Summer Villanova Business Magazine 2011

Villanova magazine of the villanova school of business

Business

summer 2011

owing the pursuit of scholarly greatness

Meeting Warren Buffett Students Work for a Unified Goal

Villanova Business

The Helen and William O’Toole Dean James M. Danko Associate Dean for External Relations Madonna Marion-Landais MA ’81 Editor Liz H. Field Director of Communication Contributors Mariana martinez Chris Nicholson Leigh Tobin Brendan E. Cummings A&S ’13 Design & Production Moiré Marketing Partners Cover Illustration rachel ann lindsay

Villanova Business magazine is published twice a year by the Villanova School of Business.

Villanova Business welcomes inquiries, opinions, and comments.

Liz Field Villanova Business 800 Lancaster Avenue Villanova, Pennsylvania 19085-1678 Tel: 610-519-5424 Fax: 610-519-7864 Email: liz.field@villanova.edu www.villanova.edu/business

22 Helping the Gulf Coast, One Semester at a Time Students travel to Mississippi to help build houses after Hurricane Katrina devasted the area.

2 villanova business | summer 2011

Cert no. SW-COC-1551

VSB’s Villanova Business was awarded the 2010 MarCom Platinum award from the Association of Marketing & Communication Professionals.

32

14

contents SUMMER 2011

from the dean

40

02 Transitions Features 08

VSB-Week

14 Growing Excellence 24

Meeting Warren Buffett

Departments 03

Momentum

11 VSB in the News 12 A Lifetime of Business Lessons 22

Helping the Gulf Coast

26

Students Across Programs Work for a Unified Goal

30

Business Leaders Forum

32

Jeff Immelt, 21st Century Leadership

34

Faculty Research

36

Faculty Achievements

38

Student Achievements

40 In Closing: Alumni Spotlight

summer 2011  |  villanova business

1

MESSAGE FROM THE DEAN

Transitions

“VSB has attained national status as a top-ten business school, and your support becomes critically important.

”

your convenience. Your gift will support VSB’s priority initiatives and help to increase the value of your degree. VSB has attained national status as a top-ten business school, and your support becomes critically important—now so much more than ever—as we compete with schools that have far greater resources than we.

I thank you for all your support and will watch the school with great pride from my new home in Indianapolis. Know that Villanova University has been a very, very special part of my life, just as it has been for you, and I do hope our paths cross again in the future.

James m. Danko The Helen and William O’Toole Dean Villanova School of Business

2

villanova business

|

summer 2011

PHOTO: BARBARA JOHNSTON

“As I wrIte thIs letter, It Is wIth very mIxed emotions. As many of you know from the April announcement, I will be leaving VSB to serve as the next president of Butler University. While I am extremely pleased with the exciting news and progress occurring at VSB during my time here—and featured in our latest edition of Villanova Business—I am also personally sad to be leaving this great University, business school, and community.

During such moments of transition, I cannot help but to reflect upon the accomplishments that have taken place under my tenure, as well as those challenges that remain in place for the future leaders. I think back to my own expectations when I arrived at Villanova six years ago.

As I consider this last point, the experience as dean of VSB far exceeded my initial expectations. While I was certainly aware of the excellence of the University and the business school in many areas when I arrived on campus in the summer of 2005, I had not fully appreciated the passion that so many faculty, staff, students, and alumni had for the place. And it was that passion that allowed us to flourish, especially with the support of outstanding alumni—the best network I have ever experienced.

Through it all, it is important to keep progress in context. The expression “standing on the shoulders of giants” seems to fit perfectly here, as it aptly describes how the current success of VSB is occurring only because those deans who served before me had the vision to provide the foundation necessary to build a great, top-ten business school. The Clay Center, which opened in 2007, is an appropriate recognition of Dean Emeritus Al Clay whose care and concern for this school and its students is legendary.

If not for Dean Tim Monahan and his leadership in contemporizing the facilities and developing new programs, VSB would not be where it is today. Just as with those former deans, it was my responsibility to leave the business school better today than when I arrived.

The stories within this issue of Villanova Business represent the positive momentum and success of VSB today as reflected through the accomplishments of our faculty, students, and alumni. If I could leave you with one parting message it would be—support Villanova financially.

It is imperative that the school increase its funding base. If you have never given before, make that first gift. If you are a consistent donor, please continue to give. I have provided an envelope within this magazine for

momentum The Villanova School of Business is ranked consistently among the country’s best business schools by publications like Bloomberg Businessweek, U.S.News & World Report, and the Financial Times. We strive to deliver a world-class education that prepares students for the social, environmental, and ethical complexities of modern-day business.

VSB 2011 Rankings Bloomberg Businessweek

Best Undergraduate Business Schools • #7 in the nation • #2 in the nation for “Overall Academic Quality”

PARADE Magazine

College A-List for Undergraduate Business Schools • Among the top seven schools in the nation for business and accounting

• A+ in “Teaching Quality” • A in “Job Placement”

Financial Times Executive MBA

• #34 among U.S.-Based Programs

U.S.News & World Report

• #11 among U.S.-Based Programs in Career Progression

• #1 rank for Villanova University among regional universities in the North Region

Aspen Institute Global 100

Best Business Programs by Specialty

The Villanova MBA

• #24 in the nation for accounting

• #55 worldwide in the Global 100 list of business schools, which recognizes schools that have integrated social, environmental, and ethical issues into their MBA programs

Wall Street Journal Executive MBA

• #1 for classmates’ contributions to the learning experience

BusinessWeek

The Villanova MBA • Consecutively ranked among the top 10 in academic quality

summer 2011 | villanova business

3

momentum

MBA Students Travel to Dubai, United Arab Emirates In an effort to enhance understanding of the consistently evolving culture of the Middle East, Professors of Management and Operations Sohail and Peggy Chaudhry were eager to bring a group of Villanova MBA students to Dubai during winter break. The 10-day trip gave 31 students not only the opportunity to learn in the classroom, but also to explore the country in a way that would change their perspectives.

According to Professor Sohail Chaudhry, the three-credit multidisciplinary international practicum had a real impact on the vast majority of student participants. In fact, some are considering work in Dubai upon graduation, and even more will be adding an International Business specialization to their diplomas.

While in United Arab Emirates (UAE), students took courses at the Institute of Management Technology (IMT), Dubai, which is the sister school of IMT, Ghaziabad, one of the top-ranked private business schools in India. There they spent time learning from IMT professors, as well as business associates, about the cultural, religious, and business practices of the area.

The delegation gained firsthand knowledge about the transformation of the UAE into a growing economic superpower and an important player in regional and international affairs by visiting the Dubai International Financial Center (DIFC). There they met

Top: Students traveled to the Dubai International Financial Center for a presentation by Nasser Saidi, PhD, chief economist of DIFC Authority.

Bottom: Professor Sohail Chaudhry and students visit the Dubai Chamber of Commerce.

Nasser Saidi, PhD, chief economist of DIFC Authority, who spoke about the strategic importance of Dubai as a financial center.

culture of business also is very different. Deals are made on trust.

Other visits included the Dubai Chamber of Commerce, Ducab

The country is full of incredible religious and cultural diversity,

(Dubai Cable Manufacturing), and DUBAL (Dubai Aluminum). The

which was great for our students to witness.”

As with every opportunity, VSB tries to connect classroom

facturing and refurbishing of oil rigs by Lamprell. During this visit,

lessons to the workplace, and this experience proved no different.

some of Lamprell’s top executives gave presentations on the

“The lessons learned here can immediately be implemented into

history and current status of the company.

“Dubai is a 24/7 country,” says Professor Sohail Chaudhry.

their careers,” Professor Sohail Chaudhry says. “What they learn on the streets one day about culture will ultimately help them in

“Business, such as construction industries, runs nonstop. The

their own business environments.”

Members of the Camden Diocese To Pursue Church Management Degree

PhD, professor of economics

VSB and the diocese of Camden will offer an online Master of Science in Church

VU President Fr. Peter M. Donohue, OSA, PhD, A&S ’75 signs agreement with the Diocese of Camden to offer MSCM degree.

Management (MSCM) degree

Upon completing the

and statistics and director of

30-credit program, which

VSB’s Center for the Study of

focuses on business skills

Church Management, partici-

and professional ethics as

pated in a signing ceremony

they relate to pastors, parish

at the Camden Diocesan

business managers, dioc-

Center to commemorate

esan department heads, and

the agreement.

others in church management

“You can go to a lot of

positions, participants will

places to learn management

receive the MSCM degree.

skills, but learning them in a

The majority of courses for

for both lay Catholics and

University; James M. Danko,

faith-based context doesn’t

this program are offered

ordained priests. Fr. Peter

The Helen and William O’Toole

always happen,” says Zech.

online and are intended to be

M. Donohue, OSA, PhD, A&S

Dean of the Villanova School

“We work very hard to make

completed in two years, at

’75, President of Villanova

of Business; and Charles Zech,

sure that does happen at VSB.”

a part-time status.

4 villanova business | summer 2011

Photos: Kristy Irwin

students traveled outside of Dubai to Sharjah to see the manu-

Undergraduate Students Practice Interviewing With the Pros While traditional

in the Wall Street Journal,”

mock interviews are common

says VSB Associate Dean

at the Villanova University

of Undergraduate Business

Career Center, VSB students

Programs Melinda German.

wanted an even greater level

Two graduating students

of preparation when they

found the experience to be

stepped in front of a poten-

especially rewarding. As a

tial employer. In response to

result of their mock inter-

the students’ requests for

views with Abercrombie &

a realistic, industry-specific

Fitch and American Eagle

opportunity to practice busi-

Outfitters, the seniors secured

ness interviewing skills, the

full-time jobs. “While the

Clay Center at VSB launched

intent of the ‘Practice with the

“Practice with the Pros.”

Pros’ program is to provide

The program, which is open

opportunities to enhance the

to all undergraduate business

business-interviewing skills of

majors, provides an opportu-

our students, it is rewarding

nity for students to enhance

that we also can help connect

and refine their interviewing

them to professional oppor-

skills while also spending

tunities,” says German.

valuable time with high-level

“The program provides

about a specific industry in

this case, actually secures

executives from top firms

a chance for students to

a non-pressured environ-

a position, that exceeds

including Vanguard, Credit

test their understanding

ment. If a student or two, in

our expectations.”

Students meet with seasoned executives to practice business-specific interviewing skills as a part of the Clay Center’s new “Practice with the Pros” program.

Suisse, AgileCat, and AT&T. Participants included executives from professions and industries that are of strong interest among VSB students.

During one-on-one

Michael Levin Introduces the ICE Center to Undergraduate Business Leaders

sessions, company representatives simulated industry/

VSB Junior Michael Levin was selected to attend

profession-specific interviews

and present at the Undergraduate Business School Leadership

with students. Participants also

Conference (UBSLC), held at the Goizueta Business School at

were given the opportunity

Emory University in Atlanta, GA.

to ask questions and received

Levin received the invitation after submitting his description

candid feedback they can use

of a unique event or program within the school of business.

through the beginning stages

His proposal, one of ten selected, focused on the unique value,

of their careers.

importance, and multi-disciplinary approach of VSB’s Center

“Our goal was to design a program where students

for Innovation, Creativity, and Entrepreneurship (ICE Center).

Michael Levin VSB ’12 introduces the ICE Center to attendees of the UBSLC.

The annual conference, in its 12th year, is designed to create a collaborative forum for student

would be asked real-life ques-

leaders from top universities around the world. Undergraduate student attendees also are

tions. Instead of common

exposed to leading business thinkers and practitioners, workshops in leadership development,

questions, such as ‘what are

cases, and other interactive exercises. Participants include students from the top 25 undergrad-

your strengths and weak-

uate business school programs in the United States as ranked by Bloomberg Businessweek, as

nesses?,’ these sessions

well as from leading international institutions.

challenged the candidates’

During the conference Levin also participated in small-group sessions with executives who

knowledge of current events

provided students with the opportunity to learn about a wide variety of industries while engaging

in banking or finance indus-

in interactive dialogue with many well-known entrepreneurs. The participating business students

tries, for example, or asked

not only developed heightened leadership skills and insights, but also built a social network with

them to predict the implica-

promising future business professionals.

tions of an article published

summer 2011 | villanova business

5

momentum

VSB Offers a New Financial Services CoOp in NYC Spring 2011 saw the

During the course of the

the student in his or her daily duties as well as with the overall transition into the company. CoOp students

launch of the pilot Financial

CoOp with Morgan Stanley,

also work closely with full-

Services Operations coop-

participating students live

time colleagues, helping

erative education program

in New York City, work for

them carry out all of the

(CoOp) with Morgan Stanley.

Morgan Stanley full-time, and

responsibilities of the opera-

A CoOp is a six-month, full-

earn a salary. “I’ve been given

tions sector. In doing so, the

time work experience offered

challenging work that goes far

students obtain a compre-

to full-time undergraduate

beyond what is taught in the

hensive understanding of the

students enrolled in VSB or

classroom,” says Joseph Lavin

industry and get a taste of the

a business minor program.

VSB ’12, who is a member

challenges and opportunities

Students who choose to

of the first Morgan Stanley

they can expect from a career

participate in a CoOp retain

CoOp class. “Because I will be

within the company. “Morgan

their full-time student status,

with the firm for six months,

Stanley makes sure that

earn six free elective credits

I have been given the oppor-

your experience as a CoOp

informal discussions with and

for the successful completion

tunity to lead projects that

is worthwhile,” says Lavin.

receive advice from officers

of the CoOp, and graduate

are important to the business.

“If I ever have a problem, I

of the firm and to learn more

in the standard four years

But most importantly, I am

can turn to my peer mentor

about various career paths.

by completing coursework

held accountable for the work

or my senior mentor, two

before, during, and after the

that I produce; high expecta-

people whom I’ve developed

evaluation of the time he

CoOp. With the new Financial

tions are the norm, and results

nice relationships with.” The

spent at Morgan Stanley. “My

Services CoOp, interested

are expected.”

company also invites the

experience,” he says, “has

CoOp participants to their

been awesome. I will never

students can now choose

Each CoOp student is

The Financial Services Operations CoOp allows undergraduate students to work in New York City at Morgan Stanley.

Lavin is unabashed in his

from seven CoOps in a wide

assigned a peer mentor at

Senior Speaker Series, giving

forget my work here and the

range of industries.

Morgan Stanley, who supports

them the chance to have

lessons I have learned.”

MBA Students Work for Non-Profit Villanova MBA students presented to top

With Professor Kozup guiding the way, the students worked

executives this past fall, and their good work earned them a trip

together to create a complete marketing plan, conducted

to West Palm Beach, FL, to present to the Board of Directors.

demographic and industry research, and developed a presenta-

The 30 MBA students in Professor of Marketing John Kozup’s

tion for NIAF executives.

Strategic Marketing Management class were assigned to create

The class presented their findings and recommendations

a marketing plan for the National Italian American Foundation

to NIAF executives on the last day of class. Their work was

(NIAF). The students were tasked with looking at ways to

so impressive that NIAF asked them to share it, in person,

develop new revenue streams, to increase membership, and to

with the Board of Directors at its next meeting in West

enhance member activity. NIAF was particularly interested in

Palm Beach.

tracking their younger members.

“NIAF relies on its annual gala for most of its revenue,”

Armed with PowerPoint, Bagnall and her classmate Daeen Salam MBA ’12 presented to the NIAF board later that month.

says Angela Bagnall MBA ’11. “We wanted to provide them

“It was a great opportunity to conduct a presentation in front

with ideas about how to create alternative income streams.” In

of very senior level individuals,” says Salam. “Not only was it

order to accomplish this and their other recommendations, the

a huge honor, it felt amazing to be in front of that caliber of

class conducted research and developed a new membership

people.” Bagnall agrees, “It was a privilege to be there, to repre-

fee structure.

sent Villanova University, and to present our work on behalf of

Most of the students in class had not worked with a non-

the class.”

profit organization before, but they found the experience very

The pair received very positive feedback from the board

rewarding. “We learned about a new type of industry and were

and anticipates many of their suggestions will be implemented

able to help them solve some important problems,” Bagnall adds.

soon by the association.

6 villanova business | summer 2011

VSB students, accompanied by Professor David Nawrocki, learned about financial markets from investment professionals at the first Global Asset Management Education (G.A.M.E.) Forum.

G.A.M.E. Forum Unites Business

It also offers workshops on the job outlook for graduating

More than 90 business professionals from

Forum’s attendees.

students. VSB students composed more than half of the

almost 70 companies, including Bloomberg News, Wells Fargo,

“The G.A.M.E. Forum brings together students, faculty,

and NASDAQ, shared their knowledge with students from

and investment professionals to discuss the different chal-

universities around the world at Quinnipiac’s inaugural Global

lenges, trends, and opportunities that exist within the financial

Asset Management Education (G.A.M.E.) Forum. A new annual

markets,” says David Nawrocki, PhD, the Katherine M. and

event, the G.A.M.E. Forum offers students and faculty, as well

Richard J. Salisbury Jr. Endowed Professor of Finance. “It

as professionals from the region, the opportunity to hear from

is also a very interactive conference. Our students had the

and network with industry leaders who currently guide the

chance to hear presentations from many high-level speakers

financial markets. The Forum focuses on the economy, stock

addressing a wide range of issues, opportunities, and chal-

markets, alternative investments, and corporate governance.

lenges facing the financial industry.”

VSB Mourns Loss of Beloved Professor Andrea L. DeMaskey,

and compassion,” says

Curricular Review

PhD, associate professor of

Dean James M. Danko.

committee in 2007-08.

finance at VSB, passed

“Her kindness, talent, and

“Andrea was a special

away on Sunday, April 3,

devotion to educational

friend and colleague to us

after a courageous battle

excellence will long

all and an important part of

with cancer.

be remembered.”

the Villanova community,”

DeMaskey, who was born

In addition to the

says David Shaffer, chair

in and lived in Germany

positive impact she had on

of the finance department.

Jessica. She was the sister

before moving to the United

so many students during

“She was a caring mentor

of Conny Fox and Marcus

States, had been a professor

her time at VSB and the

and teacher, always willing

and Christian Achenbach.

at Villanova University for

contributions she made to

to share her expertise

She also is survived by her

the past 19 years. “Andrea

her field through scholarly

and experiences. She will

aunt, Melitta Nothnagel.

was a well-respected

research, DeMaskey served

be missed.”

Donations in DeMaskey’s

and beloved member of

in key administrative

the Villanova community

roles, including chairing

beloved wife of Mikle K.

the Chester County SPCA,

since 1992, known for her

the finance department

DeMaskey and the mother

1212 Phoenixville Pike, West

dedication, hard work,

and VSB’s Undergraduate

of Cristopher, Oliver, and

Chester, PA 19380.

DeMaskey was the

memory can be made to

summer 2011 | villanova business

7

events

Students network with VSB-Week corporate sponsor representatives while learning about proper etiquette for business dinners.

Wil Reynolds, founder of SEER Interactive, leads a workshop on how to use Google tools.

The Inaugural VSB-Week

“VSB-Week will bring positive attention to the school, focus on academic initiatives, encourage students’ professional growth, and build a sense of community among business students.

8 villanova business | summer 2011

”

With support from the Clay

of 18 students and the Clay Center

Center at VSB, the Business Society

staff—created and prepared for the

Leadership Council launched the inau-

week, which consisted of 20 events

gural VSB-Week in March. VSB-Week

presented in a wide range of formats,

will be an annual event intended to

including networking breakfasts, round-

celebrate and showcase Villanova

table discussions, keynote speakers,

School of Business initiatives, as well as

and social/community building events.

expose the greater Villanova community to emerging business trends. The main goals of this student-driven event are to

Monday: “B-Global”

bring positive attention to the school of business, to focus on VSB’s academic

VSB students enjoyed an

initiatives, to encourage students’

international networking breakfast and

professional growth and acquisition

a dessert fair with many different sweet

of new skills, and to build a sense of

treats from all over the globe. Ann Marie

community among business students.

Sabath, founder of At Ease Inc. Business

For its debut year, the week focused

Protocol & Etiquette, led an interactive

on VSB’s strategic areas of business

dinner discussion called “How To Dine

excellence, and each day’s programs and

& Act Fine: Business Etiquette Dinner.”

activities were dedicated to highlighting

Sabath guided students through an

one of VSB’s four pillars of excellence:

actual business dinner, along the way

global mindset, technology/analytics,

explaining how to eat each course,

ethics, and innovation.

addressing differences in international

Co-Chairs Derek Ferguson VSB ’11

etiquette, and asking students to share

and Robert Hanlon VSB ’11—with

what they had learned. Students also

support from a steering committee

had the opportunity to mingle, network,

Carol Lloyd, assistant director for employer services for Villanova University’s Career Center, presents opportunities for students to creatively learn about Career Center programs and services during the Career Carnival.

Entrepreneurs share advice and lessons learned during a roundtable lunch.

and dine with VSB-Week corporate

career fair. Three VSB staff members

Anthony Ziccardi, vice president of

sponsor representatives, including

were on hand to act as representa-

development for Brandywine Realty

Brendan Cox VSB ’92, partner of busi-

tives from PricewaterhouseCoopers,

Trust; and Libby Bernick, leader of retail

ness tax services for Ernst & Young, and

Goldman Sachs, and Google. Student

and consumer packaged goods for

Christopher W. Bell, a specialty tax

participants then took turns introducing

Five Winds International. The panel-

associate for PricewaterhouseCoopers.

themselves, giving their pitches, and

ists took turns responding to questions

asking questions. At the conclusion of

about why their business decided to

the exercise, the students gave feed-

go green, how they implemented green

Tuesday: “B-Tech Savvy”

back on their experience, while the

initiatives, and how their decision to go

Students participated in a

“professionals” shared their thoughts

green has proven to be cost effective.

workshop on how to use Google tools,

on their performance.

The panelists discussed the challenge

took part in tours and demonstrations of the Applied Finance Lab, and attended

of competition: with more and more

Wednesday: “B-Ethical”

organizations becoming green, the cost of green products is decreasing

a panel discussion on careers in IT and analytics. Kevin Grubb, assistant director

The day began with a career

and there is greater pressure to offer

of student services for the Villanova

carnival, hosted by the University Career

green options.

University Career Center, conducted an

Center, and a “Fair Trade” coffee break.

interactive workshop titled “Working

It ended with a viewing of the movie

the Room,” designed to help students

Wall Street and a discussion of ethical

practice networking skills. Grubb shared

issues in the business world. At a midday

During a roundtable lunch

a few key steps to expanding one’s

panel discussion titled “Saving Green

students heard success stories, lessons

network, which is the source of 75

by Going Green,” attendees heard from

learned, and words of wisdom from a

percent of jobs. After explaining how

panelists John Olson, PhD, associate

group of entrepreneurs. The event was

to create an “elevator pitch,” Grubb

professor of biology and chair of the

followed by a presentation by Sseko

had the attendees write their own,

President’s Environmental Sustainability

Sandals, a business started by two

which they then practiced in a mock

Committee at Villanova University;

young entrepreneurs that combines

Thursday: “B-Innovative”

summer 2011 | villanova business

9

10

VSB-Week

On the final day of VSB-Week, the Clay Center hosted a breakfast for students, with opportunities to meet with Clay Center advisors and staff.

Creator of the “For Dummies™” brand John Kilcullen spoke with students about innovation, creativity, and entrepreneurship.

their passion for making an impact with

he said. “You can’t predict the future,

students and allowed those students

their passion for business.

so invent it.”

an unprecedented opportunity to meet

A highlight of the week was a presen-

one on one or in small groups with a

Friday: “B-Glad It’s Friday!”

high-level executive. A dozen execu-

confessed that he had been a novice at

The clay center at vsb hosted

Nearly 100 students took advantage of

everything he has done in his career. He

a breakfast and coffee break. This

the program and received advice and

emphasized innovation, creativity, and

forum served as an opportunity to have

answers to specific questions without

entrepreneurship and praised as a great

informal dialogue with Associate Dean

any pressures or requirements. Richard

concept the ICE Center at Villanova,

Melinda German and Clay Center advi-

Furtek VSB ’91, principal, Furtek &

which is designed to provide students

sors. Students gave feedback, asked

Associates; Ron Cline, senior VP, Bank

with educational and experimental

questions, and learned the inside scoop

of America-Consumer Products Direct

learning opportunities to increase their

about what’s happening at VSB. Finally,

Marketing Optimization; and Michael

understanding and preparedness for

the Villanova community gathered to

Petrane VSB ’93, partner/assurance

entrepreneurial careers.

watch the basketball team compete in

services, Ernst & Young, were a few of

the NCAA tournament.

the most sought-after executives.

Executives in Residence

A special thank you to all the sponsors

tation by John Kilcullen VSB PA ’14, creator of the “For Dummies™” brand.

Daring students to be different,

tives from a variety of companies lent their time and skills to the program.

The dynamic and humorous entrepreneur

Kilcullen encouraged them to “follow who made VSB-Week a resounding

to the beat of a different drummer.”

He cited his own experience when

Throughout the week, VSB

success: Bloomberg, Crowe Horwath,

discussing the pitfalls of listening to nay-

offered the Executive-in-Residence

Deloitte, Ernst & Young, FTI Consulting,

sayers and urged students to eliminate

(EIR) Program, a new, unique, profes-

GE, Grant Thornton, Gregory FCA

such individuals from their lives. He

sional development opportunity for

Communications, KPMG, ParenteBeard,

closed with a challenge to the audience:

students. The program enabled alumni

PricewaterhouseCoopers, Rothstein Kass,

“Define the market to your advantage,”

and business leaders to connect with

and Veris. V

villanova business | summer 2011

PhotoS: Paola Nogueras

your guts, have courage, and listen

VSB in the News Faculty, students, and staff at VSB are frequently called upon by national and international news media to serve as experts and to provide insight on current issues. The following is a list of highlights from print, broadcast, and online media featuring a selection of our experts.

FOX 29 News

CBS MoneyWatch

December 29, 2010

May 10, 2011 Job Search: Interview

February 9, 2011

City Consolidation: Interview

Questions New Grads Should

When Should a Soccer

with David Fiorenza

Ask and Answer

March 15, 2011

Manager Insert His Subs?

Featuring: David Fiorenza,

Featuring: The Clay Center

Fed Meets as Economic

Featuring: Bret Myers,

Department of Economics

at VSB

Risks Widen

Department of Management

and Statistics

Featuring: Victor Li,

and Operations CNBC Squawk Box

Department of Economics Wall Street Journal

December 23, 2010

February 9, 2011

Retail Surprises Under the Tree

April 18, 2011

The Science of

Featuring: Eric Karson,

10 College Classes That Impact

Soccer Substitutions

Department of Marketing and

the Outside World

Featuring: Bret Myers,

Business Law

Featuring: The Villanova

Department of Management

School of Business

and Operations

and Statistics

The Philadelphia Inquirer

December 14, 2010

April 13, 2011

March 6, 2011

How Foreclosure Is Like

Top Schools Face

February 8, 2011

Claims Sex Abuse Cover-up

a Disease

Globalization Challenge

Super Bowl Ads Star a Chip-

Featuring: Charles Zech,

Featuring: Paul Hanouna,

Featuring: Jonathan Doh,

loving Pug and a Little Darth

Department of Economics

Department of Finance

Department of Management

Featuring: Charles R. Taylor,

and Statistics

and Operations

Department of Marketing and

Wall Street Journal

Knights of Columbus Suit

Business Law

March 25, 2011 How To Get a Promotion at

Forbes

Your Tech Job

February 3, 2011

Featuring: Stephen

February 23, 2011

Super Bowl Ads You Can’t Miss

Andriole, Department of

Apple After Steve Jobs?

Featuring: Charles R. Taylor,

December 9, 2010

Management and Operations

Shareholders Press, But the

Department of Marketing and

Cigarette Pack Warnings

Board Pushes Back

Business Law

Scarier in Other Countries

Featuring: Patrick Maggitti,

Featuring: Jeremy Kees,

Department of Management

The New York Times

Department of Marketing and

and Operations

January 26, 2011

Business Law

Fed To Continue

March 25, 2011 Syrian Troops Fire on

The Philadelphia Inquirer

Bond-Buying Program

Protesters

February 16, 2011

Featuring: Victor Li,

Featuring: Christopher

Elementary Economics

Department of Economics

Kilby, Department of

Featuring: Peter Zaleski,

and Statistics

Economics and Statistics

Department of Economics

December 8, 2010

and Statistics

Citi Regains Some Stock Mojo

Philadelphia Business Journal

Featuring: Michael S.

March 18, 2011

The New York Times

January 17, 2011

Pagano, Department

Course Helps Students Dial

February 9, 2011

Local TV Stations Should

of Finance

Into the Mobile App Industry

German Börse in Talks To Buy

Expect Revenue Slides in 2011

Featuring: The Villanova

the Big Board

Featuring: Ronald P. Hill,

School of Business

Featuring: Michael S.

Department of Marketing and

Pagano, Department

Business Law

of Finance

summer 2011 | villanova business

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curriculum

Left: Jennifer Truex MBA ’11 (standing far right) and her group discuss the team’s recommendations for the non-profit organization MANNA. Right: Matthew Barbieri MBA ’11 and his team members make their pitch as the final component of the Non-Profit Consulting Practicum.

Learning a Lifetime of Business Lessons MBA students find unexpected ways to serve and learn Jennifer Truex MBA ’11 has

with eating during treatment can be

disciplines. The second, and I think this is

always had an interest in helping others,

very severe.”

the really important part, they learn how

Truex told her fellow students about

to give back to their community, which

in a new MBA course at the Villanova

the campaign that had impressed her

is already part of our students’ mindset.

School of Business titled “Non-Profit

years before, and they, too, were inter-

A lot of MBA students want to serve, but

Consulting Practicum,” in which students

ested. The group then spent the next few

they figure that’s something they can’t

seek out a non-profit organization (NPO)

months applying what they learned in

do until they’re 50 or 60 or 70 years

and then find a way to help the organiza-

the classroom to a real-life situation.

old. We want to illustrate that they have

tion function more effectively.

Truex didn’t need to search for long.

“Once Villanova MBA students have taken their basic courses in the func-

valuable assets to offer these types of organizations now.”

Working in groups of three to seven,

When she moved to Philadelphia six

tional areas of accounting, marketing,

years earlier, she had heard about a

and finance,” says Ronald P. Hill, PhD,

students choose an NPO in the Delaware

charity campaign called “Pie in the Sky.”

the marketing & business law professor

Valley to approach. If their assistance

The program is a Thanksgiving fund-

who taught the course and who was a

is accepted, the group meets with the

raiser run by the Metropolitan Area

member of the committee that created

organization, learns about its mission and

Neighborhood Alliance (MANNA),

it as part of the recently revamped MBA

values, and determines a particular issue

which provides food to nutritionally

curriculum, “we want them to recog-

they can help resolve. The students’ roles

at-risk medical patients who face

nize the ways those areas interrelate. So

might range from helping with branding

life-threatening illnesses.

we spend some time getting them to

to organizing a better management

“They serve a really specific need

understand how to think across these

structure. Hill also teaches the students

in the community,” Truex says. “I found

disciplines to make good decisions as

how to give an executive-level presenta-

it fascinating because they cater to

managers. Then they apply this concept

tion, a skill they later use to pitch their

many people who are living with HIV/

to a non-profit organization that’s trying

plan to the organization itself.

AIDS, cancer, or other life-threatening

to do good things in our community.

illnesses. I think we all know someone

“The course has two goals,” he

The work is in the students’ hands— Hill guides them throughout the

who has gone through chemotherapy, for

continues. “The first is that students learn

semester, but the class meets formally

example, and the challenges associated

how to synthesize across all the different

only three times. The remainder of their

villanova business | summer 2011

PHOTOs: Barbara Johnston

and so she was especially excited to enroll

the deliverable are open to the team

already had an impact on the community.

to decide, which can cause anxiety

“In our first year,” Hill says, “every one of

because of the intrinsic gray areas they

the clients came away thinking they got

need to navigate. They’re learning how

something of real value.” Additionally,

to do meaningful work in teams, and the

many of the students have completed

whole dynamic that comes with that:

the course with no intention of leaving

communication, delegation, account-

their projects behind. “At least 20 to 25

ability, and time management. In some

percent of the students wanted to offer

cases, students have other classes,

their services into the future to help

full-time jobs, and families to balance,

these organizations,” Hill says.

so these also are valuable soft skills

One of those students is Truex. “I

they learn in this course and in the MBA

learned that I actually had a lot more to

program overall.”

offer than I thought I did,” she says. “I

Mattingly also likes that the students

realized that I could make a difference in

undertake this project with community

non-profit organizations without doing

organizations that really need assis-

typical volunteer work, and that there are

tance, and not with traditional for-profit

a lot of business aspects these organiza-

businesses. “This project is even better

tions need help with. Being able to apply

because they’re not doing it to make

my talents in those areas was a great use

money,” he says. “The people who work

of my time.”

for NPOs do it because they love their

Truex continues to work with MANNA.

mission. To give back in this way is

She was invited to be part of the advi-

hopefully going to resonate with more

sory committee for their new campaign,

guidance comes from another reliable

and more not-for-profits, and I hope it

“Meals that Matter,” which directly uses

source: VSB alumni. A former Executive

gets to a point where they start seeking

some of the strategies and tactics she

MBA student advises each group.

Villanova out.”

and her group recommended.

“The Executive MBA alumni are a

In just a short time, students have

The impact of this one class, however,

resource,” Hill says. “They’re not holding

assisted a wide variety of area NPOs,

is broader than just her own intentions.

the students’ hands; they are truly

including Monster Milers, Animal Lifeline,

“Now that we’ve initiated relationships

internal consultants. They tend to interact

Mutt Match, Love146, the Players Club

with some of these organizations, there’s

with the students on a weekly basis and

of Swarthmore, Community Partnership

an opportunity to continue to work with

help them resolve any issues they have

School, and the Philadelphia Hispanic

them in the future—not just myself, but

related to group dynamics, scheduling

Chamber of Commerce.

the students and staff at the Villanova

with their clients, resolving disputes,

“On the day of the final presenta-

School of Business now have a connection to them,” she says.

and so on. This support is valuable for

tions last semester, the buzz from the

the students because they learn how to

clients who attended was overwhelm-

utilize experts as consultants rather than

ingly positive,” Hill says. “Most were

the course has been a success for

bosses, coworkers, or employees.”

blown away with what the students

everyone involved.

One of those internal consultants

prepared—one was already thinking

Hill sees that as exactly why

“We wanted to get students excited

is Chris Mattingly EMBA ’06, an asset

about how they could hire someone to

about two things,” he says. “One is to

manager for the Portfolio Management

begin putting the plans in place, one

see that non-profit organizations need

Division of the U.S. General Services

asked the students to come and present

that kind of management help, and my

Administration. Mattingly has advised

their findings to the mayor of Chester,

hope is that some of them will consider

three groups since the course began and

PA, and one even remarked that they

non-profit work as part of their vocation

sees the experience as invaluable to MBA

have had students consult with them

as well as their avocation. The second

students. “It’s not like a case study—the

before but that the output was nothing

part is for them to realize that they can

problem isn’t identified for you, but you

like that which the MBA students

be very passionate about something that

still have to solve it,” he says. “You have

produced. One group member was even

isn’t their job, and they can provide value

to develop a relationship with a customer,

able to get his company, Clear Channel

to that something. If they start this kind

figure out what the problem is, and then

Communications, to provide a billboard

of work when they are 25 or 30 years

come up with a solution.

on which the non-profit could advertise

old, there’s a lot of good they can do

for free.”

throughout their lives.”

“This is very challenging,” he continues, “because the solution and

Two semesters of the course have

—by Chris Nicholson

summer 2011 | villanova business

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villanova business  |  summer 2011

owing THE PURSUIT Of SCHOLARLY GREATNESS Villanova School of Business has grown in many respects over the past five years—in enrollment, in the quality of its undergraduate and graduate students, and in stature. by mark walsh

illustrations by RachelAnnLindsay

summer 2011 | villanova business

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W villanova business | summer 2011

hile VSB has long been known for its strong teaching tradition, Dean James M. Danko knows that another characteristic is of critical importance as the school aspires to rise among the ranks of the nation’s premier business schools: the pursuit of scholarly excellence. A key strategic priority for the business school is to attract, develop, and retain faculty members who are both outstanding teachers and leaders in research.

“At a great business school, at the end of the day, you have to put great faculty with great students,” Danko says, repeating one of his favorite mantras. “As we continue to gain in recognition, that has clearly occurred here. Applications to the business school have doubled over the last five or six years, and the quality has increased significantly.

The other side of it is that you really have to ensure you are attracting and retaining a quality faculty.”

VSB must continue to find ways to support its commitment to teaching and scholarship, the dean says.

“We’re not the University of Michigan, and we’re not Dartmouth,” Danko says. “Those institutions have more resources.”

The school’s six Centers of Excellence and 10 endowed chairs and professorships provide the means to offer greater stature to faculty members and provide them an outlet for cutting-edge research.

“The centers are entities by which we are helping to energize the faculty and attract some new ideas,” Danko says.

Betting on Analytics The dean points to VSB’s newest Center of Excellence as indicative of the school’s commitment. The Center for Business Analytics was elevated in 2010 from a “strategic initiative group.”

Businesses use analytics to price their products, keep tabs on inventory, and manage personnel, using data and analysis to boost efficiency, customer loyalty, and profits while reducing risk.

Matthew Liberatore, the director of the Center for Business Analytics, has been pushing to integrate analytics throughout the VSB curriculum.

“We’re trying to tie in to things that executives are talking about,” Liberatore says. “With the revolution in analytics occurring in industry, we’re trying to give our students a better leg up on these topics.”

One adept user of business analytics is Harrah’s Entertainment, the giant casino and gaming concern.

“Their whole business revolves around analytics, from the way slot machines are organized on the floor to how they market their rewards cards for frequent customers,” Liberatore says.

Ronald Baumann EMBA ’05, the senior vice president and general manager of Harrah’s Chester Casino, is on the Center for Business Analytics advisory council. He says his company relies on analytics to make every business decision.

“We learn what Jim or Sally from the Main Line area do, if they visit us once a month or twice a month, whether they spend $60 or $80,”

“With the revolution in analytics occurring in industry, we’re trying to give our students a better leg up on these topics.”

Baumann says. “We have models to help us understand that, and we craft offers targeted to them.”

Baumann says Harrah’s traditionally has recruited from business schools such as Harvard, University of Chicago, Stanford, Northwestern, and Vanderbilt for analytical positions. In recent years, it has added VSB to that list.

“Villanova tends to deploy some of the same training we look for in systems and analyst competencies, so it’s a good match for us,” Baumann says. “Villanova is now in the game for these positions and it’s really because of the concentration and curriculum of business analytics. We’re a company founded upon analytical rigor.”

The Business of the Church Another VSB Center of Excellence studies a very different kind of business enterprise—one that many people don’t even think of as a business. Since 2004, the Center for the Study of Church Management has been offering educational programs and research in administration, financial management, and human resource management, specifically geared toward the Catholic Church.

“We have a shortage of priests, yet we ask them to do everything,” says Charles Zech, the center’s director and a professor of economics and statistics. “Nobody entered the seminary because they wanted to run a small business, yet that’s what a church is.”

This center offers a Master of Science in Church Management, based on online classes and a one-week, on-campus residency, as well as one-week certificate programs. But the center reaches even more clergy and lay people with one-day seminars and webinars on topics such as parish technology.

“We might be addressing 250 people in an onsite seminar, but reach 2,000 in a webinar,” Zech says.

Financial management and internal controls are central to many of the center’s offerings.

“Every church has problems with internal financial controls,” Zech says. “No one would think church workers would steal, but it happens.”

The center’s advisors working with these churches “are astonished by the lack of routine controls,” Zech says. “There is often an unwillingness to thoroughly evaluate the performance of church workers. To some church leaders, it seems un-Christian to do that.”

The center’s research projects have included surveys of Catholic parishioners on financial accountability issues, surveys on Catholic donor attitudes, and best practices in parish stewardship.

All About Location Meanwhile, the Daniel M. DiLella Center for Real Estate deals with some very down-to-earth issues. The center is focused on educating Villanova students about commercial real estate.

This is no night class for the budding neighborhood home realtor.

The center has a high-powered advisory council made up of representatives of commercial real estate giants such as Blackstone Real Estate Advisors, CB Richard Ellis Inc., and Cushman & Wakefield Inc. The center also oversees a minor in real estate with courses in Real Estate Investments, Real Estate Law, and Real Estate Development.

And it aggressively seeks to place students in internships in the field.

“We’re probably the center least focused on research,” says Shawn Howton, the academic director. “Our center is more focused on developing students and educating them in the area of commercial real estate.” summer 2011 | villanova business

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“Students have been involved in consultancies for corporations and non-profit organizations, ranging from single evenings to semesterlong projects.”

A highlight for the center is its annual Villanova Real Estate Challenge, a case competition in which teams from about 10 colleges and universities tackle a development challenge. In 2010, the competition asked teams to propose mixed-use plans for a parcel of land near a new public-transit spur in suburban Washington, D.C. “I write the case, they get it on a Monday morning, and they turn it in with their solution on Thursday evening,” says Howton.

Villanova’s team of four students and an advisor came in third that year.

At the Intersection of Policy and Marketing The Center for Marketing and Public Policy Research is one of VSB’s largest and most established Centers of Excellence. This center examines the impact of government regulation on business, consumers, and society. It publishes two journals and operates “strategic business units” on domestic policy, financial services, healthcare, marketing and advertising practices, and political science.

“We’re an international think tank located within VSB,” Director John Kozup says. “Our faculty contribute to policy debates in the United States in a very significant way.”

The range of the center’s work is far-reaching, with Professor Michael S. Pagano, the Robert J. and Mary Ellen Darretta Endowed Chair in Finance, studying electronic stock trading, risk management, and financial institutions, while Professor Jeremy Kees publishes research on nutrition labeling on restaurant meals, health warnings on cigarette packages, and dietary information on packaged foods. villanova business | summer 2011

Professors Michael Capella, Aronte Bennett, and Lan Chaplin are key researchers in the areas of policy and consumer welfare. Kozup is an associate editor of the International Journal of Advertising, a prestigious scholarly publication based in Great Britain.

The center also is the academic home to the Journal of Public Policy & Marketing, a scholarly publication that covers a range of issues such as health labels on cigarette and food packaging, marketing foods and beverages in schools, and product placement of pharmaceuticals in films and TV shows.

With an impressive advisory board, including Congressman Jim Gerlach, Congressman Pat Meehan, and Brett Loper, the senior policy advisor for House Speaker John Boehner, the center hosts major international marketing conferences, including the American Marketing Association Marketing and Public Policy Conference in Washington, D.C. Faculty work with the U.S. Treasury, Food and Drug Administration, Federal Reserve, and many corporate and legal partners in the examination of the intended (and unintended) consequences of government policies.

The center also has championed curricular innovation. One example is the course “Brand Valuation and Government Relations.” This course, taught jointly by Kozup and Manager of Government Affairs for GE Capital Stephen Albrecht A&S ’95, introduced students to the positive or negative impacts of government intervention to corporate valuations and growth. Albrecht served as senior counsel under U.S. Treasury Secretary Henry Paulson during the 2008 economic crisis. Guest speakers included Chief Regulatory Officer for PNC Robert Hoyt (former General Counsel of the U.S. Treasury under Paulson) and president and CEO of GE Capital Corporate Finance Tom Quindlen.

“Students have been involved in consultancies for corporations and non-profit organizations, ranging from single evenings

Villanova School of Business

Centers of Excellence to semester-long projects,” Kozup says. One example involves the YMCA in Washington, D.C., which was looking for some marketing help in the face of a growing competition from newer, zippier fitness centers and community facilities.

“Our students formed teams covering branding and business mission, entrepreneurial programs, corporate partners and sponsors, private donors, and communications,” Kozup says. “They also did a competitive benchmarking analysis with several sports clubs and organizations in the D.C. metro area.”

An Application of Lessons Another Center of Excellence with a broad portfolio is the Center for Innovation, Creativity, and Entrepreneurship, or ICE Center.

Like many business school entrepreneurship programs, the ICE Center aims to support budding student entrepreneurs.

“But our center is more about entrepreneurial thinking as a skill that all of our students will need, whether they work for a startup or for Ernst & Young,” says Professor Patrick Maggitti, the ICE Center’s Carmen and Sharon Danella Director. “At its core, entrepreneurship is having an innovative idea to create value and taking action on it.

Thus, we have a lot of students on campus who would never think of themselves as entrepreneurs, but when they do something creative to increase the impact of initiatives, such as the annual Special Olympics weekend, they are thinking like entrepreneurs.”

Maggitti notes that some companies, such as Google and W.L. Gore, the maker of Gore-Tex, encourage their employees to spend as much as 20 percent of their time to think entrepreneurially about new products or business ideas.

The ICE Center, while housed at VSB, has a focus that extends across the University. It supports the principle that students from the Arts and Sciences, Engineering, Nursing, Business, and Law schools can become more well-rounded innovators and creative thinkers.

Maggitti cites a course conceived and supported by the ICE Center as an example. Called Mobile Application Development, the course is taught by Frank Klassner, an associate professor of computing science in Villanova’s College of Liberal Arts and Sciences; Sarvesh Kulkarni, an associate professor of electrical and computer engineering in the College of Engineering (COE); and William Wagner, an associate professor of accounting and information systems in VSB. Ten students from each of these three colleges were enrolled in the inaugural course this spring. Working in teams of three—one student from each college—the students had to develop a mobile application for a smartphone and devise a marketing and business plan to address its commercial viability.

Verizon Wireless became a sponsor for the course when ICE Center advisory council member and VSB alumnus Jamie Drobile VSB ’83, MBA ’92, an executive in the mobile industry, made contact with COE alumnus Anthony Melone EE ’82, Verizon’s chief technology officer and a COE Dean’s Advisory Council member. The company

Center for Business Analytics Director: Matthew Liberatore, PhD A leader in the development of analytical capabilities for students, the center also engages cross-disciplinary faculty in analytics education, practice, and research.

Center for Global Leadership Director: Jonathan P. Doh, PhD Dedicated to promoting cross-cultural awareness, ethical international business relationships, and responsible global leadership, the center pursues these objectives through educational programs, research, and service and outreach activities.

Center for Innovation, Creativity, and Entrepreneurship (ICE Center) Carmen and Sharon Danella Director: Patrick Maggitti, PhD A driver of scholastic, educational, and professional development opportunities within VSB, center initiatives are focused around research, curriculum, and practice in the areas of creativity, innovation, and entrepreneurship.

Center for Marketing and Public Policy Research Director: John Kozup, PhD Supporting research and scholarship on marketing and public policy issues, the center examines the impact of regulation on the business community, consumers, and society. Its mission is to produce cutting-edge research that influences sound policy at the local, state, and national levels.

Center for the Study of Church Management Director: Charles Zech, PhD Created to serve the Catholic Church in the United States through education and research, the center offers programs and conducts research in the areas of administration, professional financial management, and human resource management as they apply to the Catholic Church and its institutions.

Daniel M. DiLella Center for Real Estate director: Shawn Howton, PhD Established to provide outstanding academic and professional development opportunities to students in the field of real estate, the center supports faculty research and teaching, ensuring relevance in the curriculum through the incorporation of site visits, experiential learning projects, industry-standard tools, and the perspectives of industry experts.

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provided several state-of-the-art Droid X phones, service, technical support, and guest speakers.

“It was validating when we heard from Verizon that they knew of only one place that was doing something similar,” Maggitti says. “That was the University of California-Berkeley.”

Examples of apps being developed by the student teams were the Homework Organizer, the Mobile Inventory Manager, and the Gift Grabber, which would allow consumers to use their phone to scan products onto a wedding or other gift registry.

Perhaps even more impressive is the impact the course had in helping the students land jobs and internships at companies including Google, Apple, SAP, and Verizon.

“Recent surveys indicate the ability to be creative is the most sought-after quality by today’s leading organizations–60 percent of Fortune 500 CEOs rank it more important than intelligence,” Maggitti says. “Courses like this enable our students to demonstrate experience working on creative new ideas with a group of people from different disciplines–like what happens in the real world. This provides them with a powerful competitive advantage in the job market.”

A Worldly Perspective While several of VSB’s Centers of Excellence work on issues that go beyond U.S. borders, a worldly outlook is the focus of the Center for Global Leadership.

VSB students have an impressive rate of participation in foreign study. While the proportion is down somewhat from a high of 52 percent two years ago, some 40 percent of 2011 VSB graduating seniors engaged in overseas programs. Some 28 percent of these seniors have an International Business co-major or minor.

Jonathan P. Doh, the center’s director and the Herbert G. Rammrath Endowed Chair in International Business, notes that a number of business schools have achieved at least a modest degree of globalization by encouraging multilingualism and opening campuses overseas. And they require students to spend a portion of their student years in other countries, though usually in advanced economies.

Even at VSB, Doh says, “most students opt for a relatively familiar European experience. For most students with little prior international exposure, that’s great.”

But through a new program called Global Leadership Fellows and the center’s overall global strategy, Doh says, “we are encouraging the more adventurous and committed students to consider more challenging and unfamiliar locations, especially those, such as China, that play and will continue to play an increasingly prominent role in global economic affairs.”

The Global Leadership Fellows program, commencing in fall 2011, will include participation in the existing Global Citizens program, which centers around a semester in London; an additional semester or other study abroad; a specially designed section of a new VSB course on global corporate responsibility; and a special section of the required Global Strategic Thinking course. villanova business | summer 2011

“The impetus for the program grew out of three observations,” Doh says. “First, the Global Citizens program, which brings VSB and other Villanova students to London for a semester during their freshman year, was not being fully leveraged. It provided some of our most talented and globally oriented new students with an incredible learning and living experience which included both academic coursework and an internship, but there was little follow-up and few opportunities for this cohort to continue their global learning together as a group. Second, we noticed that some of our International Business co-majors were going above and beyond the requirements of the major and studying abroad multiple times in various locations, and we wanted to respond to that demand by providing a structure to these ‘super globalists.’”

Finally, Doh adds, “VSB has experimented with an honors program for our most intellectually outstanding students, with mixed success.

This program would provide us with another approach to challenge our most gifted students.”

VSB senior Meredith Altenhofen exemplifies the students who embrace international opportunities. She served as president of the International Business Society, a student group closely affiliated with the Center for Global Leadership. During her sophomore year, she spent a semester in Hong Kong, interning for Citigroup Inc. “That really gave me more of a passion for globalization,” says Altenhofen, a Minnesota native who majored in Economics, Finance, and International Business. She also participated in overseas service trips to Cambodia and India through campus ministry.

Altenhofen also held an internship with a global focus right in Philadelphia. At PricewaterhouseCoopers LLP, she worked for the global transfer pricing group.

“I interacted with our global offices every day,” she says.

“Once you have an overseas experience, even if it is in London, you can translate that into a passion for international affairs, and for learning everything you can about the country you’re in,” says Altenhofen. “One thing I’ve learned from Professor Doh is that without focusing on the culture of a country, there is no point to knowing its business market. There’s no point to being an accountant in India if you don’t know what’s going on culturally in India.”

Taking a Chair As their titles reflect, Doh and one other center director, Matthew Liberatore, also are endowed chair holders. VSB has 10 endowed chairs and professorships, which are part of a commitment to funding focused on the recruitment, retention, and promotion of top scholars.

Thomas Monahan, a former dean of VSB who is now the John M. Cooney Professor of Accountancy & Information Systems, says that while the Centers of Excellence are meant to drive research, endowed chairs and professorships help keep strong connections between faculty and students. They also keep the connection to the business community open.

Villanova School of Business

E ndowed Chairs and Professorships “One of the themes is to really drive this initiative to make the classroom more tied to the real world,” says Monahan. He cites VSB’s Executive MBA program as an example.

“I teach Performance Measurement in our Executive MBA program, which involves working with executives to ensure that what we are studying is closely connected to real world business issues. “My work as a consultant to many large companies in the United States, Europe, and Asia has helped me appreciate how important it is that our students—both at the graduate and undergraduate levels—can understand the business implications of what they learn in the classroom.” Each faculty member attempts to do this based on their own experiences. For example, Monahan points out that his work as the chair of the audit committee for Ariba Inc., a publically held software company located in the Silicon Valley in California, is invaluable in working with his auditing students to better understand new developments in the auditing field.

“We are really interested in supporting both research and consulting opportunities for our faculty that will enable them to help students strengthen their understanding of the connection between book knowledge and business practices,” Monahan adds. Endowed chairs and professorships are providing support for faculty in accomplishing this goal.

Another endowed chair who likes to keep his research and classroom lessons relevant is Charles R. Taylor, the John A. Murphy Endowed Chair in Marketing at VSB. Taylor speaks to conferences and groups worldwide about marketing and advertising, usually about cutting-edge topics such as digital advertising or self-disclosure of information on the Internet.

“These same topics resonate with students,” says Taylor, who is a past president of the American Academy of Advertising and is an editor of the International Journal of Advertising. “In a basic accounting course in business school, some of the problems that a professor presents don’t change that much over time. But in marketing and advertising, you can’t be putting up slides that are three years old.”

Taylor notes that VSB has only a handful of advertising courses, but he believes the school overall is preparing students to function well in marketing.

“With all of our students, we work hard to give them a cross-functional understanding of business,” the professor says. “Today’s students who go into advertising are going to have to deal with corporate budgets, and they’re going to be asked, ‘What’s the ROI [return on investment] of this expenditure down the road?’ They’re going to have to be able to respond to that.”

Dean Danko says there is no debate about the return on investment that the Villanova School of Business is getting from its commitment to endowed chairs and professorships and Centers of Excellence.

“We want a business school that is on the leading edge of business education,” Danko says. “To do meaningful and groundbreaking research really does take time. Our centers provide us the opportunity to coalesce resources around integration, curricular innovation, and cutting-edge research.” V

Stephen Andriole, PhD Thomas G. Labrecque Endowed Chair in Business

David Nawrocki, PhD Katherine M. & Richard J. Salisbury, Jr. Professor of Finance

Jonathan P. Doh, PhD Herbert G. Rammrath Endowed Chair in International Business

Michael S. Pagano, PhD Robert J. and Mary Ellen Darretta Endowed Chair in Finance

Ronald P. Hill, PhD Richard J. and Barbara Naclerio Endowed Chair in Business

John Pearce II, PhD VSB Chair in Strategic Management & Entreprenuership

Matthew Liberatore, PhD John F. Connelly Endowed Chair in Management

Charles Raymond Taylor, PhD John A. Murphy Endowed Chair in Marketing

Thomas Monahan, PhD John M. Cooney Professor of Accountancy & Information Systems

Stephen Stumpf, PhD Fred J. Springer Endowed Chair in Business Leadership

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Service

Helping the Gulf Coast, One Semester at a Time In August 2005, the 175-mph

leaders of other organizations helping to

University to develop a relationship with

winds of Hurricane Katrina blew across

plan the rebuilding efforts, then moved

a New Orleans community.

the Gulf Coast, swept inland, and

on to New Orleans. They surveyed

reduced 275,000 homes and countless

the damage, assessed the needs, and

various locations, they now focus on

lives to shambles.

determined how to help. Then they flew

one town: Picayune, MS. “I don’t know

Though the first few trips were to

home to make their report. The next

if they’ve adopted us or we’ve adopted

PhD, professor of management and

semester, Nydick led a group of two

them,” Nydick says. “When we first went

operations at the Villanova School of

dozen student volunteers to Slidell, LA,

there, they had built two houses in 10

Business, had an idea: Take students

to help build homes.

years. In the eight trips we’ve made

Immediately after, Robert Nydick,

to the affected region to see how the

They went again the next semester.

since, the community has added nine

University can help. “At that point there

And the next. And the next. And they

houses in four years. We really feel like

were no planes going into New Orleans,”

are still going, every semester, heading

we’ve made a connection and made a

he says. “So I told my class, ‘I don’t know

south to help communities rebuild. This

difference in this town.”

how we’re getting there, and I don’t

past March marked their 12 trip, and

know where we’re staying, but let’s

Nydick plans to keep taking students

contingent has made such an impression

commit to doing this.’”

to the region for as many semesters as

that the Picayune Item has published at

they are willing to go.

least five articles on the students, and

Fourteen students volunteered to join him—at no expense to the University

th

The dedication to helping just one

That is an understatement. The VSB

during the last trip the local television

or to any charity. They each agreed to

affected area is important, Nydick

news station covered their visit as the

pay their own way.

says. It helps teach that people remain

lead story.

Three weeks later, the group flew to

in need even when their plight has

Vincent Solano VSB ’11, a double

Gulfport, MS. There they met with one of

fallen out of the news cycle. Moreover,

major in Economics and International

the heads of Habitat for Humanity and

the consistency has allowed Villanova

Business, has joined the team on seven

villanova business | summer 2011

Robert Nydick, PhD, and Daniel Wright, PhD, (right of group shot) join students in Picayune, MS. Nydick has taken students to the Gulf Coast every semester for the last six years to build homes.

trips during his time at the University.

professor of operations and supply

part of my job and Professor Nydick’s

The only semester he missed was when

chain management and chair of

job is trying to get people to actually

he was studying abroad in Ireland. “The

the Department of Management

leave the site and go get rest.”

whole experience has been extremely

and Operations, has helped Nydick

rewarding,” he says. “What started as

on 11 of the trips. James M. Emig,

houses. They also receive an educational

an empty street my freshman year is

PhD, professor of accountancy, has

benefit. After all, there is a business

now a small neighborhood. Each time

helped on four. Both agree that the

element to this project. Between trips

I go back, it’s great to see the families

success and longevity of the project

students work on a volunteer basis to

who are living in homes that Villanova

are, in a large part, due to the dedi-

raise funds (almost $50,000 to date),

students had a huge part in building.”

cation of Villanova students. Each

and Nydick ties all this into his Business

semester more students volunteer

Decision Making course. “I teach my

people they have helped, which is part

than the semester before. More than

students a methodology of how people

of the experience. “I think what has kept

300 students now have made the

and organizations make decisions, and

me going back is the appreciation of the

trip. Some still go even after gradu-

how they apply them by talking, doing

people in the community,” Solano says.

ating: one recent alumnus flew in

research, and communicating,” Nydick

“The way it breaks down for a lot of us

from Chicago, two more from New

says. “Many organizations that are

who go on the trips is that we recognize

York City. The most recent trip, in

helping to rebuild after Katrina still need

that by sacrificing one weekend we can

March, included a record 56 students

help. So the students use this method-

help change an entire family’s lives for

and alumni.

ology to decide where to donate the

The students often interact with the

the better.”

money they raise.”

students accomplishing what is called

Connecting theory to practice and

community. The broad impact of the

a Blitz Build. “We show up to find only

giving back to the community are two

students’ work is apparent each time

a foundation,” Nydick says. “When

important tenets of Villanova’s mission,

Nydick returns to Picayune. “On one trip

we leave, there’s a whole house there,

and they shine here in a single, monu-

I went to get coffee at a local shop, and

and we hand over the keys to the new

mental effort.

when we walked in everyone there knew

homeowner. The first we did in 44

all about us,” he says. “Then the next

hours, the second in 40 hours.”

That change has spread through the

day they showed up and volunteered to PHOTOS: Colleen Breslin

The last two projects entailed the

Still, the students do more than build

Wright is not surprised by that feat.

“I strongly feel that these trips symbolize what a VSB student should strive to be,” Solano says. “While being

help. It’s a special experience to see our

“The students’ energy and commitment

a good student is important, if you want

students work beside the people who

is a force to be reckoned with—they

to have a future in business, then being

are going to be moving into the house

just won’t stop working,” he says.

a good citizen is important as well.

that we’re working on, or with previous

“During the 40 hours, one student slept

Now, more than ever, we need business

homeowners who come to volunteer.”

for only five hours. He was absolutely

leaders who are looking out for others.”

on task the whole time. The hardest

— by Chris Nicholson

Daniel Wright, PhD, VSB associate

summer 2011 | villanova business

23

24

VSB Students Meet Warren Buffett

“I did not leave Omaha with more money to my name, but the experience of speaking with and learning from Mr. Buffett made me a richer human being.

”

With more than 100 business

applied to be entered into the lottery

students awaiting his arrival, the “Oracle

system to attend one of these sessions.

of Omaha” walked into the boardroom

Forty-eight schools were ultimately

to an eruption of applause. Twenty

invited to Omaha, including VSB.

Villanova School of Business students,

participation in this opportunity was the

The Katherine M. and Richard J. Salisbury,

Equity Society, a student-run organiza-

Jr. Professor of Finance, and instructor

tion that manages a portfolio of equity

of finance James Jablonski, were among

securities that expose students to real-

those eager to share their day with the

world investment experience. The Equity

business legend.

Society, with guidance from Nawrocki,

A VSB group of 13 undergraduate members of the Villanova Equity Society

initiated the application process.

The day’s events began with a tour

and seven undergraduate and graduate

of the Nebraska Furniture Mart, where

students from the student managed

students met Bob Batt, executive vice

funds (SMF) classes traveled to Nebraska

president of the store. Batt, whose

for the chance to meet Warren Buffet,

grandmother originally founded the

primary shareholder, chairman, and

furniture mart, led a tour of the store’s

CEO of Berkshire Hathaway Inc. The

expansive furniture and electronics selec-

visit included a two-hour question-

tions and discussed its business model.

and-answer session, tours of Berkshire

Then it was on to meet Buffett at

Hathaway-owned businesses, and a sit-

Kiewit Plaza, home to the Berkshire

down lunch with Buffett.

Hathaway offices.

Buffett hosts several of these events

villanova business | summer 2011

The driving force behind VSB’s

accompanied by David Nawrocki, PhD,

Buffett impressed the students not

each year, giving students from different

only with his business acumen, but also

universities the opportunity to ask candid

with his sense of humor. He began by

questions and seek advice on an array of

making jokes about his own wealth

topics. This year, more than 200 schools

before encouraging the students to

important a management team is, Buffett

another two hours taking pictures

tionships. When a student asked “What is

with all of the students. Buffett was at

the most important decision one makes?”

times playful with the students during

Buffett responded by saying, “The

this photo session, even asking them

person you marry.” He also reminded the

to pose pretending to take his wallet

students that it is essential to be a role

from him.

model to your children, saying, “My dad

“Warren Buffett was, as advertised,

was my hero. I still think about what he

an incredibly humble and modest man,

would do.”

whose thoughts, not just on finance-

When it came to career advice,

Ishnad Antik MSF ’11 is unsuccessful at wresting away Warren Buffett’s wallet at a photo session during VSB’s visit to Omaha, Nebraska.

When lunch was over, Buffett spent

also addressed the significance of rela-

related issues, but also on leadership

Buffett encouraged students to do what

and people, were simple, but at the

they could to “get ahead of the game,”

same time, remarkable,” said Robert

and he told them they would have to

Haderer VSB ’11, co-president of the

work hard to find and recognize oppor-

Villanova University Equity Society.

tunities. In addition, Buffett stressed the

The group’s visit concluded with a

importance of strong oral and written

trip to Borsheim’s jewelry shop, where

communication skills, sharing that

they met Susan Jacques, president and

he took classes early in his career to

CEO of the Berkshire subsidiary since

confront his fears of public speaking.

1994. Jacques emphasized the store’s

“I thought that the stress he placed

commitment to ethical behavior, telling

ask questions. Buffett spent two hours

on public speaking was important. As

students they do not accept diamonds

responding to inquiries that ranged from

he said, it is a message very few busi-

from a specific mine in Zimbabwe

investing to personal matters. No topic

ness schools send to their students,”

because, although it is one of the

was off-limits, he assured the students.

Nawrocki said.

largest mines, the diamonds it produces

“Not only did Buffett talk the talk, he

Buffett also challenged students to

are used to fund violence and conflict.

walked the walk,” said Amanda Leggio

imagine which of their classmates they

Nevertheless, the store boasts an exten-

VSB ’12, secretary of the Villanova

would want to “buy” 10 percent of. He

sive inventory, enabling them to offer a

University Equity Society. “He had a

then asked them to list the personal

large variety of jewelry at low costs.

noticeable glimmer in his eye and spring

qualities that would compel this deci-

in his step as he entered the room; we

sion, and encouraged them to try to

and photos—from one of the world’s

were all hypnotized by his energy.”

adopt those qualities. “Why not be like

most renowned businessmen and

the person you’d buy 10 percent of?”

philanthropists, these 20 students had a

he asked.

once-in-a-lifetime experience. “I did not

One key piece of advice offered during the session was to recognize the importance of the management team

At the close of the extensive Q&A

Armed with a full cachè of advice—

leave Omaha with more money to my

one chooses. Buffett used himself as an

session, Buffett invited the students to

name, but the experience of speaking

example to explain this recommendation,

lunch at one of his favorite local estab-

with and learning from Mr. Buffett made

saying that he attempts to determine

lishments, Piccolo Pete’s. Proving to

me a richer human being,” said Mark

whether the person at the head of a

be down-to-earth despite his current

Thompson VSB ’12. “My interaction with

company loves the business or loves

status as third-richest man in the world,

him enabled me to better use what

the money.

Buffett offered to drive four students in

I’ve learned as I pursue my career in

his own car. “During our ride to lunch,

finance. As Mr. Buffett said, ‘It’s always

to paint my own painting,” Buffett

he was telling us about the books he

about staying ahead of the game. You

continued. Believing that positive

likes and people he respects,” said Anna

can never start too soon. One way or

attitudes can make a good company

Farbiszewska VSB ’11. “His message was

another, you want more capital than

into a great company, he strives to hire

always the same: to pursue your passion,

you’ve started with.’ Whether in life or in

managers and employees who feel the

or to find one through reading books or

business, I intend to follow and closely

same way about their work.

learning about other people’s success

live by this advice.”

stories. And we just learned from him.”

— by Mariana Martinez

“I tap dance to work because I get

In addition to emphasizing how

summer 2011 | villanova business

25

26

Curriculum

Students Across Programs Work for a Unified Goal

“We see poverty in pictures, but to be in houses with no floor and see people cooking over an open fire pit put what we have in the United States in perspective.

”

“No matter how much I was

teaches students to examine a situ-

told about the conditions of the

ation with all of its complexities and

community, I was not prepared for

simplify it in order to make more

what I saw when I got there,” said

informed decisions and become effec-

William Charlton EMBA ’10, who

tive executive leaders.

recently visited Arenas Blancas, a

This group of five knew that in

remote town in Nicaragua, to help

order to have an impact, they needed

bring electricity to the town for the

to engage fully and directly with the

first time.

system and the town’s people. The

The idea behind the trip was born when a group of Villanova under-

Jamshid Gharajedaghi, encouraged

graduate engineering and business

them to travel to Arenas Blancas to

students, working to set up micro-

immerse themselves in the culture

hydro electrification in Arenas Blancas,

and experience. In January 2011, they

spoke to Executive MBA students

made the trek to Nicaragua to learn

about their project.

more about the area and to begin

A group of Executive MBA students—Charlton, Phillip Grinnell, Kimberly Joyce, Michael Miller, and

applying their classroom lessons to real-world challenges.

Although the Villanova Executive

Daniel Waits—began to discuss how

MBA faculty supported their mission,

they might help the undergraduate

Charlton, Grinnell, Joyce, Miller, and

students sustain the project over time.

Waits were on their own when it came

The Executive MBA group decided

to the travel itself. “It was not a hand-

to make the project in Arenas Blancas

holding trip, which was both scary and

the Capstone Project of their Systems

exciting,” said Waits.

Thinking course.

Systems Thinking, on which the Executive MBA’s curriculum is based,

villanova business | summer 2011

group’s Systems Thinking professor,

No one in the group was fluent in Spanish, and so the first priority was to recruit an interpreter to accompany

proved to be valuable. “The trip to Nicaragua was the best experience I’ve ever had,” said Grinnell.

Back at Villanova for their final module, Charlton, Grinnell, Joyce, Miller, and Waits are now collaborating with the undergraduate engineering and business students to formulate a sustainability plan for Arenas Blancas, based on the information they gathered from their trip. They hope that their plan will be applicable for other similar systems in the future.

William Charlton EMBA ’10, Phillip Grinnell EMBA ’10, Daniel Waits EMBA ’10 (kneeling), Michael Miller EMBA ’10, Kimberly Joyce EMBA ’10, and Mausi Kuhl (second from right),owner of Selva Negra Coffee Estate. Kuhl uses a turbine to generate electricity from the water source on the property for parts of the coffee plantation.

For this group of five, the significance of the trip and this project is great. Not only are they helping the people in the remote community improve their quality of life, but they are seeing how they have benefitted

them to Nicaragua. Once they arrived,

area’s local water sources, and spoke

translator in tow, they traveled over

with as many of the locals as they could.

unpaved dirt roads to the town of

Amongst conditions far less comfort-

every other weekend away from

Matagalpa for an overnight stay.

able than those they were accustomed

Villanova’s main campus, gained the

to, the Executive MBA group found the

unique opportunity to work with

nity, it proved to be in great need of

Nicaraguans they met to be warm and

undergraduate engineering and busi-

aid and infrastructure improvement.

welcoming. During town visits, families

ness students, when they otherwise

“It was very different than any other

would cook for the group of students,

would not have been able to interact

place I’d been,” said Joyce. “We see

and many invited them into their busi-

with them.

poverty in pictures, but to be in houses

nesses. Because businesses are often

with no floor and see people cooking

connected to homes in this region,

Executive MBA students to partici-

over an open fire pit in their kitchen

the group often found themselves in

pate in experiential learning, living the

put what we have in the United States

people’s homes, sharing in family rituals

kind of problem-solving and analysis

in perspective.” The group slept in

and feeling a part of their community.

they learn about in the classroom and

Along the way, the Executive MBA

applying it to the real world. Likewise,

As for the Arenas Blancas commu-

open dormitories, on cots protected

These students, who attend classes

The experience also enabled the

with mosquito netting, and truly found

students asked the individuals they met

they were able to enhance their educa-

themselves immersed in the community.

why they wanted or needed electricity.

tion and business acumen through the

The reasons shared by the families

experience and were able to bring that

Nicaragua, the students visited the site

were, for the most part, simple, such

knowledge back with them to their

of the student-designed hydro-electric

as wanting to be able to use an iron. “It

own companies.

plant and had the opportunity to meet

seemed that would not be a priority,”

with the lead engineer, who shared

said Joyce, “but it clearly was, because

trip, and the support they received

with them the details of the plant. They

we heard it many times.” Additionally,

from the administration and faculty

also went to another site, where they

the group noted how much everyone

exemplify what makes VSB special.

witnessed the potential problems asso-

they spoke with was open to sharing

Says Miller, “It speaks to the program

ciated with a micro-hydro plant and

their stories.

and to the caliber of people who

During their week-long stay in

PHOTOS: Matthew McFadden

from the experience as well.

learned how to avoid them.

They visited remote towns, hiked the

Overall, the visit to Nicaragua, which the group agrees was “eye-opening,”

To these students, this project, their

come here.”

— by Mariana Martinez

summer 2011 | villanova business

27

28

donor spotlight

Enriching the Student Experience commitment to the study of finance through research and curriculum

Robert J. Darretta vsb ’68

Mary Ellen Darretta

villanova business | summer 2011

The Villanova School of Business is fortunate to house one of the most talented and knowledgeable faculties in the world of higher education—an asset reflected in VSB’s rise in reputation and rankings during the past six years.

In April 2010, one of the professors who helped bring VSB to the forefront of business education nationally was recognized for his contributions. As the inaugural Robert J. and Mary Ellen Darretta Endowed Chair in Finance, Michael S. Pagano, PhD, will help advance the finance department to an even higher level. Robert and Mary Ellen Darretta, who have long been affiliated with Villanova, created the endowment to enhance the study of finance through applied research and cross-disciplinary curricula.

An endowment like that underwritten by the Darrettas can make a big difference in the life of a school.

“The biggest change for me is that now I have greater ability to travel and network more extensively,” Pagano says. “I can attend more conferences, I can interact with more professors, and I can really immerse myself in the world of business and business academics. Then I can bring all that back to VSB to share with other faculty, and to help enrich our students’ educational experiences.”

The benefits also work in the other direction—not only is Pagano bringing more to Villanova, but he also is bringing Villanova’s name out

PHOTOs: Paul Crane

Michael S. Pagano, PhD, accepts the inaugural Robert J. and Mary Ellen Darretta Endowed Chair in Finance.

to more people in the business and political arenas. “Now VSB can reach a greater audience both nationally and internationally,” he says. “This goes for the academic point of view, to be sure, but it helps in other ways, as well. I will be able to attend the Security Traders Association meeting, which I could not do before. I will be able to meet more industry folks directly, and go to Washington, D.C., more often and speak with the SEC commissioners and congressmen. I always use the Wall Street Journal in the classroom, but now I can actually meet and talk to the people we read about, and bring those experiences back to the students.”

Pagano expects that his improved access to industry also will help him assist graduating students in their transition to the business world.

“Because I will be directly connected with a wider range of people, I should be able to have my finger on an increased number of opportunities, and thereby be able to make an increased number of introductions,” he says. “I want to get even more industry leaders thinking about Villanova when they are hiring young professionals, and then I can connect them with our best students.”

Pagano joined the Villanova faculty in 1999 after a decade of working in the financial services industry. The endowed chair position is just the latest in a long line of successes and professional acknowledgements.

Pagano serves as an associate editor of The Financial Review, as well as on the editorial boards of two other finance journals: Advances in Quantitative Analysis of Finance and Accounting and the International Journal of Managerial Finance. In 2009 he became the first-ever finance academician appointed to the Financial Industry Regulatory Authority’s Market Regulation Committee. Also in 2009, he was featured in the Wall Street Journal for his investigative look at the correlation between U.S. terror alert levels and activity within financial markets. As a VSB professor, Pagano has achieved a national reputation in finance through his research on market microstructure, financial markets, and financial institutions. His research has been featured in

25 refereed publications and top-tier journals, and has been cited extensively by scholars in his field.

Since his official appointment in April 2010, Pagano has organized two timely and relevant finance symposia, won an Outstanding Paper in International Finance award for his research on equity trading costs around the world, and presented research on the impact of large capital issuances by financial institutions and the effect of bond ratings pre- and post-crisis.

While the details of Pagano’s career may not be forefront in his students’ minds, the advantages of his background are. Ishnad Antik MSF ’11 sees Pagano as one of the most knowledgeable and effective professors with whom he has ever taken a course. “When you walk out of a class in college or graduate school, you usually know you learned something important, but you don’t usually know what until you have to apply it someday,” Antik says. “But straight out of Professor Pagano’s class, I knew I had gained a skill set that I could use right away. We never had courses like this in my previous school.”

Christopher “Dain” Hall, a senior finance major and a second baseman for the Villanova baseball team, says that it doesn’t take long to know Pagano is a special professor. “After about the third or fourth class into the semester, I mentioned to a friend that I felt I learned more about real-world trading in the markets than I had learned in the previous three years of being at Villanova. Professor Pagano just seems really wellconnected to what’s going on in the business world on a day-to-day basis.”

And there it is, The Darretta Endowment at work Robert Darretta VSB ’68 is the former vice chairman and chief financial officer of Johnson & Johnson. His expertise in corporate governance, the health care industry, direct consumer markets, technology/business process, and financial/capital markets has proved invaluable to VSB throughout the years. He was chair of the Dean’s Advisory Council and now serves on the President’s Leadership Circle for the University. The Darrettas’ son Colin is a 2006 graduate of VSB, and their son Nicolas A&S ’12 is a current student.

“The Villanova School of Business has always been dear to me,” Darretta says, “not just because of my personal ties to the University, but also because of the school’s unyielding dedication to nurturing young men and women to be leaders in both business and community. I am positive that Professor Pagano is the perfect person to lead the charge offered by this endowment and to enhance even further Villanova’s ability to prepare its students for the world that awaits them.”

Pagano relishes that challenge and looks forward to the work ahead of him. “I have more access than ever before to inside knowledge and new and current information,” he says. “Now I can do an even better job of tying theory to practice.” —by Chris Nicholson summer 2011 | villanova business

29

30

EVENTS

VSB Hosts Inaugural Business Leaders Forum

D

uring a time of frequent and unexpected change in the

business world landscape, the relationships we build can prove to be critical.

With that in mind, the Villanova School of Business hosted its first-ever Business Leaders Forum, where more than 100 executive leaders who serve on VSB’s nine advisory councils came together for two days to network and learn more about the University’s and the business school’s strategic plans.

The Forum was a resounding success.

In a survey sent to all participants, over 66 percent of attendees made new business contacts from the advisory councils and 54 percent of attendees became

Daniel H. Bathon, Jr. VSB ’76, general partner and chairman, Windspeed Ventures, LLC and member of the Dean’s Advisory Council, participates in the Q&A.

more interested in participating in or supporting the University’s and VSB’s

endowment to the level of other schools

for business leaders committed to VSB’s

strategic plans.

of our size and caliber as ambassadors of

mission to get together to hear from

the strategic plan.”

Fr. Peter and other University leaders

“I didn’t realize the large number of people involved,” said one respondent. “I

William K. Bacic VSB ’78, managing

regarding the University’s future direc-

like the direction the University is moving

partner of the New England area with

tion, goals, and needs. I particularly

in and think VSB is doing many of the

Deloitte and Touche LLP and chair

enjoyed learning more about VSB’s

right things. My interest continues to

of the VSB Dean’s Advisory Council,

Centers of Excellence and meeting other

build concerning the future and direction

commented, “The Business Leaders

Villanova alumni who are contributing

of the University.”

Forum provided a unique opportunity

their time and talents back to Villanova.”

The program, which is the only one of its kind hosted by VSB, helped to give the attendees a broader understanding of how Villanova could engage with the business community and other alumni and parent business leaders.

“It was a great opportunity to interact

Advisory Councils

T

he advisory councils, consisting of nearly 200 members, provide professional expertise and advice, feedback on undergraduate and

with those who have a similar passion for

graduate curricula, assistance with student recruitment and internships, and financial

the University and its mission—whether

support to VSB.

parents, alumni, or others that have

Making up the nine advisory councils are VSB’s six Centers of Excellence—the

come to appreciate the impact Villanova

Daniel M. DiLella Center for Real Estate; the Center for Marketing and Public Policy

business leadership has,” said attendee

Research; the Center for Innovation, Creativity, and Entrepreneurship; the Center for

Christine James, CFA, managing director,

Global Leadership; the Center for the Study of Church Management; and the Center

Wells Capital Management. “I learned the

for Business Analytics—and the Dean’s Advisory Council, the CIO Advisory Council,

importance of translating our enthusi-

and the Accounting Advisory Council.

astic alumni support into meaningful

While VSB’s Centers of Excellence support faculty research, teaching excellence,

contributions to the school to ensure

and curriculum development and are designed to focus attention on critical busi-

future generations continue to benefit

ness issues and to leverage the expertise of faculty in a cross-disciplinary way, the

from what we did. We need to meet

advisory council members help provide the centers with practical knowledge, infor-

the competitive challenge to build the

mation on current trends and issues, and an update on business practices.

villanova business | summer fall 20102011

The Rev. Peter M. Donohue, OSA, PhD, A&S ’75; William J. Donnell VSB ’77; Manuel Nunez MBA ’03; Dean James M. Danko; and Robert Byrnes VSB ’76, president, Villanova University Alumni Association.

Two Alumni Honored with the Bartley Medallion for Service and Commitment to VSB

N

amed after the Rev. Joseph C. Bartley, OSA, and established in 2010, the Bartley Medallion is an annual award that recognizes alumni who

have distinguished themselves in their career and provide extraordinary service to

his spirit and the motivation behind all that he has done and continues to do for Villanova.

Manuel Nunez MBA ’03

the Villanova School of Business. During the Business Leaders Forum, the Bartley Medallion was presented to William J. Donnell VSB ’77 and Manuel Nunez MBA ’03

International Marketing

at an event attended by Villanova University community members.

Manager, Merck & Co., Inc.

Through the recipients’ efforts and involvement, VSB is able to deliver a relevant business education and enhance job opportunities for VSB students while embodying

Manuel “Manny” Nunez

the Augustinian values of veritas, unitas, and caritas (truth, unity, and love).

has distinguished himself in his career, demonstrated service to

William J. Donnell VSB ’77

Another of Donnell’s contributions

his communities, and provided

includes the creation of the Villanova

extraordinary service to VSB. He has

Private Wealth Advisor,

University Financial Club summer

been a frequent guest lecturer in various

internship initiative. Donnell has an

classes, member and contributor to

Investment, Merrill Lynch

extraordinary passion for Villanova that

the Graduate Programs Review task

is focused on helping students succeed

force, and on-site executive faculty,

William “Bill” Donnell

in the workplace. Donnell is both an

accompanying the Executive MBA ’10

has served Villanova in many ways over

alumnus of Villanova and a friend of the

students on their immersion trip to

the past several years. One of his most

school. His efforts have focused on how

Malaysia and Vietnam. Nunez has gone

significant areas of impact has been

he can help the school of business, the

above and beyond in his service to

in helping VSB develop a presence on

University, current students, and alumni

VSB and the broader community. He

Wall Street in the financial services

make connections and advance within

possesses knowledge, skills, capabilities,

community and connecting students

the financial services industry. The phrase and values that are consistent with the

with internships and job opportunities.

he coined, “Think ‘Nova First,” captures

PHOTOs: Jim McWilliams

Senior Vice President -

mission of Villanova and VSB.

summer fall 2010 2011 | villanova business

31

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Executive Speaker Series

21st Century Leadership at GE

P

ick a path that is your passion. Dedicate yourself to

that path. Be a learner. Be good on teams. Have perseverance. According to Jeffrey R. Immelt, chairman and chief executive officer of GE and chairman of the Council on Jobs and Competitiveness for President Obama, these are important lessons along the path to success.

Immelt spoke about his life and career to an enthusiastic crowd of VSB students, faculty, and staff as part of the VSB Executive Speaker

Jeffrey R. Immelt speaks about his career as chairman and CEO of GE.

Series. Nearly 1,000 attendees, all eager to hear career advice from the ninth chairman of GE, filled both the

manager, in the appliances business,

hard work, and a decent sense of

Villanova Room and the Connelly

where he managed service people, and

humor, he added.

Center Cinema, where the presentation

in the healthcare business, which he

was simulcast. Dean’s Advisory Council

ran before becoming CEO. However,

GE, Immelt attributed his appointment

member Thomas M. Quindlen VSB ’84,

even the man who has been named

in part to the fact that his peers liked

president and chief executive officer of

one of the “World’s Best CEOs” three

and supported him. For Immelt, success

GE Capital Corporate Finance, intro-

times by Barron’s has weaknesses,

was due to his hard work, his ability

duced his friend and colleague to the

which Immelt admitted as he shared

to build friendships and trust, and his

standing-room-only group. While his

anecdotes about the mishaps he

knowledge of how to work on teams.

speech addressed the current economic

experienced when he attempted to fix

climate, Immelt also identified the

refrigerator compressors during his

from audience members and covered

unique challenges that today’s gradu-

time in the appliances division of GE.

topics from how to better engage

As he revealed his own path to

Immelt also responded to questions

employees to what keeps him up at

of his company, and included advice

success, Immelt reflected on the

night, and from how sports and other

on how VSB students can distinguish

lessons he learned along the way and

team activities contribute to one’s

themselves in their careers. He also

offered insight into how VSB students

career and success to what he considers

jokingly revealed why he would never

might build their own careers and

to be his biggest mistake. While no

make a good refrigerator repairman.

achieve their own successes. His

topic was off limits, the candid session

advice was simple: do what you want

allowed for great dialogue and idea

Immelt worked at Proctor & Gamble

to do, because most people who are

exchange between one of the world’s

and earned an MBA from Harvard

successful enjoy what they do. Be

most successful leaders and more than

Business School. When he joined

broad, but learn how to be good at

1,000 future business leaders.

GE in 1982, Immelt moved through

one thing in particular. Always be

—by Mariana Martinez

different departments and experi-

willing to learn. Immelt says he looks

enced the many sides of the company

to hire people who are good raw mate-

To learn more about Immelt’s

he would eventually lead. He spent

rial, but who also possess a thirst for

leadership and career at GE, visit

time in corporate, in plastics as a sales

learning. Success is about persistence,

http://tenyears.geblogs.com.

Prior to beginning his career at GE,

villanova business | summer fall 20102011

PHOTO: Jim McWilliams

ates face, divulged the top priorities

When asked about becoming CEO of

VSB’s Executive Speaker Series 2010–2011 Six Thoughts on Leadership As part of his presentation, Jeffrey R. Immelt described the six things that he, as CEO of GE, works on every day. Each item, he hoped, could be adapted to VSB students as they prepare for their own careers and as they determine and refine their own leadership styles.

1 - R&D (research and development), technology, and innovation No matter what career you choose, understanding technology and having the ability to innovate and come up with great products will be critical.

2 - Software and services The ability to have a good understanding of analytics and the ability to measure and monitor technology also are important, no matter what you do. He urged students to be comfortable with software and analytical activities.

3 - Globalization Immelt explained that companies are growing by extending outside of the United States, and that an organization has to be a good local company in order to be a good global partner over time.

4 - Redefine and expand To stay successful GE constantly redefines and expands its core competencies, introducing $20 billion in new businesses every decade. He encouraged the audience members to experiment, think about new business ideas, be entrepreneurial, and take risks.

5 - Make GE Capital Corporate Finance a leading financial services company GE Capital lends to small- and medium-sized companies, as an investment in their growth. The company, Immelt explained, is designed to be a customerdriven lending organization that focuses on creating economic value.

6 - Make a great profit by solving problems for customers and for society Immelt stressed the importance of using innovation and technology to create solutions, and he used GE’s efforts in clean energy initiatives and affordable healthcare as examples.

S

ince its inception in 2009, the Villanova School of Business Executive Speaker Series has welcomed several prominent guests. The vision and purpose of the Executive Speaker Series is to provide a venue for industry leaders to discuss current business issues related to ethics, innovation, analytics, and a global mindset. The series is open to all University students, faculty, and staff. VSB extends its appreciation to our 2010–2011 speakers for sharing their time and talent with the Villanova community.

• Jeffrey R. Immelt, chairman and chief executive officer of GE, and chairman of the President’s Council on Jobs and Competitiveness: “21st Century Leadership at GE” • Mark Ford VSB PA ’13, president and group publisher of Time Inc. News Group: “Your Career: Rules of the Road: His ‘Roadmap’” • John Kilcullen VSB PA ’14, creator of the “For Dummies™” brand: “Innovation for Dummies” • Patrick F. Meyer VSB ’74, president of Sourcebits: “Business 3.0: Mobile and Social Fusion” • Bill Rasmussen, founder of ESPN: “The Creative Genius Behind ESPN” • Jane Sarkin, features editor for Vanity Fair magazine: “The Business & Show Business of Vanity Fair ” • Francine LeFrak, award-winning producer, entrepreneur, and philanthropist; founder of SAME SKY: “Passionate Pursuits” (part of the Joseph F. Azrack ’69 Distinguished Speaker Series)

summer fall 2010 2011 | villanova business

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34

faculty Research

How Women Can Beat the Wage Gap Trap higher pay for both men and women. With respect to bosses, it is beneficial to initiate contact and to be a provider of information.

In the case of peers, there is a benefit to relationships that allow for the exchange of information. Finally, individuals who have close, trusting, and open relationships with their subordinates earn higher pay.

Interestingly, not only do women have greater potential to raise their pay through these effective network relationships, but other research seems to indicate they may be better equipped to do so.

Three ways WOMEN MAY increase pay: Motivate and get to know your team

Women are thought to be better than men at establishing group consensus and managing teams. Drawing upon this strength, they should focus on building stronger and closer relationships with subordinates.

T

he wage gap between women and men continues to be a troubling fact in the U.S. workplace. While it is clear that issues such as discrimination remain, recent research from the Villanova School of Business (VSB) offers some suggestions about how women can manage their network relationships to help narrow the gap. The original intent of VSB Professors of Management and Operations Kevin Clark and Patrick Maggitti and co-author Holly Slay of Seattle University was to examine how network relationships in an organization affected pay. They found that the nature of these relationships matters for all employees; however, to their surprise, women appeared to have more of an opportunity to increase their pay by effectively managing those relationships.

The study of 315 early career, whitecollar professionals enrolled in part-time MBA programs examined the influence of three distinct corporate networks to determine which was the most influential in increasing compensation for both men and women: subordinate networks (those

villanova business | summer 2011

working below you), peer networks, and networks with superiors.

Perhaps not surprisingly, the results confirmed that the relationship an employee has with his or her boss can have a positive effect on an employee’s pay. Interestingly, Clark, Maggitti, and Slay found it is actually the subordinate networks that matter the most—despite the fact that study participants and conventional wisdom indicated they believed the relationship with their boss was the most important factor driving compensation.

These findings are critical for anyone tempted to advance their careers only through ingratiating themselves with the boss—it appears that treating your team better and providing leadership is a surer path to a bigger paycheck. In some ways, this makes perfect sense: If you connect with those below you, they will perform well, making you look good to your boss, and you get a raise.

In addition to substantiating the relative importance of subordinate networks, the study found specific factors that are linked to

Find out what your friends know

Since women have a strong awareness of their work community and groups, they should try to make an increased effort to obtain information specific to work and job opportunities from their peers.

Influence your supervisor

Make chance run-ins meaningful with your boss by always having something in your pocket that is a value add-on. Instead of chatting about the weather, bring up a recent project or accomplishment or suggest solutions to problems instead of seeking answers to questions. Over time, your boss will come to view you as a thoughtful and effective person—one who needs to be rewarded and retained.

The researchers emphasize that these tactics will not eliminate the wage gap but, given the abundance of attention focused on the persistent existence of the gap, it is good to see studies that provide women with suggestions about what they might do proactively to increase their pay.

Playing the Winning Percentages

T

he pace and flow of soccer generally make it difficult for managers to affect the outcome of a match once it begins. Since soccer has almost no stoppages for coaches to draw on clipboards or strategize with their players, a manager’s most critical in-game decision may be choosing when to use his or her three substitutions.

According to VSB Professor of Management and Operations and former professional soccer player for the Richmond Kickers Bret Myers, managers can obtain significant lift from their team if they sub earlier when behind. Unlike other sports where coaches can call a timeout mid-game and diagram a play, soccer managers use substitutions as one of the major ways they can influence play. As soccer fans know, a set of fresh legs on the field can be enough to change the dynamics of the game.

Myers used data collected from more

than 1,500 observations from four different European Leagues (English, Italian, Spanish, and German), Major League Soccer in the United States, and the 2010 World Cup. He found that if teams are behind, managers should make their three substitutions at the 58th minute, 73rd minute, and 79th minute, according to his “Proposed Decision Rule.” Teams that follow these guidelines improve—i.e., score at least one goal—roughly 36 percent of the time. Teams that do not follow the rule improve only about 18.5 percent of the time. In soccer, managers tend to delay substitutions when ahead, but hasten substitutions when behind.

If the “Proposed Decision Rule” is followed when a team is behind, managers have a .4227 probability of success in gaining advantage in goal differential. If the rule is not followed, they have a .2052 probability

of success. Professor Myers found that the timing of substitutions does not matter when a team is tied or ahead nor does it matter what league they are playing in. Whether the game is home or away also has minimal impact on substitutions.

Foreclosure Contagion: Coming to a Neighborhood Near You?

illustrationS: Joyce Hesselberth

T

he news reports of the past two years have made it clear—the current foreclosure crisis is the worst the nation has seen in more than 60 years.

But one little-known fact is how foreclosures can spread like a disease, making once-proud homeowners willing to abandon their homes and walk away from their mortgages, seemingly unfazed by the consequences.

Recent research by VSB Professor of Finance Paul Hanouna at the Center for Financial Research at the FDIC (Federal Deposit Insurance Corporation), with Carlos Ramirez and Christof Stahel of George Mason University and Ryan Goodstein of the FDIC, shows that homeowners who are underwater on their mortgages are far more likely to “strategically default” and walk away from their homes if other homeowners in the neighborhood have done the same.

According to the research, “it’s all about who you know,” says Professor Hanouna.

Homeowners are up to 24 percent more likely

“channels” that make foreclosures contagious

1 2 3

The Learning Channel: Neighbors who default on their mortgages help potential strategic defaulters navigate the process with credible information. Learning through the experience of others when it relates to foreclosures is more powerful and more cost effective than learning through the media, accountants, or lawyers.

The Social Capital Channel: As more people default, the less morally objectionable it becomes to homeowners. When defaults become widespread in a neighborhood, the stigma declines with the proportion of people defaulting.

The Social Network Channel: A significant factor is a homeowner’s willingness to make payments on an underwater mortgage. The loss of social networks and the degradation of public infrastructure and security caused by high neighborhood foreclosure rates give homeowners further reasons to “strategically default.”

to walk away from their homes in a ‘strategic default’ if a neighbor within a five-mile radius has done the same thing.

This contagion effect is much stronger among borrowers who are severely underwater on their mortgages and do not appear to

be financially distressed. “Borrowers with current Loan-to-Value (LTV) ratios of above 120 percent and FICO scores above 720 are six times more likely to be influenced by surrounding area foreclosures than borrowers with lower ratios and scores,” says Hanouna. summer 2011 | villanova business

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Faculty Achievements

William Wagner Receives Meyer Innovation and Creative Excellence Award The Center for Innovation, Creativity, and Entrepreneurship (ICE Center) at VSB awarded the third annual Meyer Innovation and Creative Excellence (Meyer ICE) Award to William P. Wagner, PhD, associate professor of accounting & information systems.

Wagner was chosen for his commitment to providing students with the tools necessary to be competitive and effective in the marketplace by developing innovative courses that address the ever-changing technological landscape. In the 2010-2011 academic year, Wagner co-developed and taught the Mobile Application Development course. The cross-college course

Dean James M. Danko presents the Meyer ICE award to Professor William P. Wagner.

featured faculty from the Colleges of Engineering and Liberal Arts and Sciences and was designed to give students a technical

This fall Wagner will offer a version of the Mobile Application

and business view of the multi-billion-dollar mobile application

Development course to Villanova MBA students.

market. Verizon Wireless sponsored the course and provided

Inspired, designed, and endowed by Patrick Meyer VSB ’74,

Android phones, service, and guest speakers. Wagner also coor-

the award highlights VSB’s focus on innovation, creativity, and

dinated timely in-class presentations from numerous industry

entrepreneurship. It was created in honor of the Meyer family

insiders, including Brad Blumberg, CEO of Smarter Agent,

of Villanova graduates, including Patrick’s father, C. Paul Meyer

and Chuck Sacco, vice president of client strategy at Movitas.

’30, and his brother, Edward Meyer VSB ’86.

Three Teaching Excellence Awards Presented to VSB Faculty

Gunita Grover, PhD, assistant professor of finance, was presented with the 2011 Gerald A. Dougherty Endowed School of Business Faculty Award for excellence in teaching.

Recipients of the award are VSB professors at the undergraduate level who exhibit outstanding talent, dedication, and a unique ability to connect with students. Professor Grover

villanova business | summer 2011

was recognized for her passion and enthusiasm as well as for her ability to lead students through a difficult required core course at VSB. Students commended Grover for being their guide, not just their instructor. “Receiving the Dougherty Award was a most humbling experience,” said Grover. “I was overwhelmed by the comments of my students.

They inspire me to continue loving what I do—teaching, advising, and mentoring.”

This award was created in honor of one of VSB’s most beloved professors, Gerald A. Dougherty VSB ’58. It is made possible through the generosity of many VSB alumni, including John Surgent VSB ’80 and his wife, Elisa; Bruce Peacock VSB ’73; Cathy Peacock VSB ’78; and John Gilbert VSB ’72.

Noah P. Barsky, PhD,

associate professor of accounting & information systems, received the inaugural Daniel J. O’Mara Villanova School of Business Faculty Award. This award, which is named after a popular VSB professor who retired at the end of the 2009-2010 academic year, honors an outstanding teacher at the graduate level.

Professor Barsky earned this award for his contributions in curriculum development, and for introducing innovative teaching tools that maximize the impact of his lessons and

enhance the learning experience for graduate students. Students praise Professor Barsky for his teaching style and organization of topics, which has allowed him to translate complex concepts into applicable and comprehensible business situations. “I am honored to be the first recipient of this award,” said Barsky. “I am grateful for the opportunities to participate in the educational experiences of our wonderful students and to enjoy the immeasurable rewards of seeing their learning and success.” Barsky requested that the award money be donated directly to the trust fund established for the young children of the late Tom Daniel, a revered VSB technology coordinator who passed away suddenly in May 2011.

Professors Newbert and Kees named VSB’s First Emerging Scholars

Instructor of Management & Operations James J. Reaves received the Villanova School of Business Outstanding Instructor Award, presented to an exceptional adjunct faculty member. Reaves has more than 30 years of operational, supervisory, and management experience and has held positions at QVC for the past 16 years. He was recognized for utilizing his experience and connections to enrich student learning. During his time at VSB, Reaves, who teaches Business Operations in the 21st Century and Global Crisis Management, has consistently demonstrated his dedication and enthusiasm in the classroom.

The Emerging Scholars program, which launches in fall 2011, includes the creation of two term professorships to support early and mid-career faculty members making exceptional contributions to the national scholarly reputation of VSB. Scott Newbert, PhD, associate professor of management & operations, is the Harry Halloran Emerging Scholar in Social Entrepreneurship.

“I am honored to fulfill this professorship,” said Newbert.

“I plan to use this opportunity to continue to create and disseminate knowledge about social entrepreneurs—who they are, what drives them, and how they can effectively scale their impact.”

VSB Emerging Scholars awardees Scott Newbert with Harry Halloran and Jeremy Kees with Richard and Barbara Naclerio.

Jeremy Kees, PhD,

assistant professor of marketing, was named the Richard Naclerio Emerging Scholar in Public Policy. “I am thankful to the Naclerio family for their continuing support of VSB,” said Kees. “This professorship will support my research on nutrition and tobacco marketing, issues that have important implications for business, government, and

society. It is because of generous supporters like Richard and Barbara that VSB has been able, and will continue, to achieve a very high level of success.”

As recipients of these titles, Newbert and Kees will initiate and encourage scholarship in social entrepreneurship and public policy among faculty and students, and will be actively involved in promoting the integration of theory and practice.

Two Marketing Professors Receive McDonough Family Faculty Award Charles R. Taylor, PhD, the John A. Murphy Professor of Marketing, and John Kozup, PhD, associate professor and director of the Center for Marketing and Public Policy Research, received the McDonough Family Faculty Award for excellence in academic research. Taylor and Kozup were recognized for publishing a series of research papers in top journals.

Taylor’s research topics include branding, international advertising and marketing, and marketing and public policy issues related to advertising and promotion. His work has appeared in such publications as the Journal of Advertising, Journal of Public Policy & Marketing, and Journal of International Marketing.

Kozup’s

research

focuses

on

consumer

information

processing, such as consumers’ perceptions, knowledge, and

Photos: Paul Crane

evaluation of food and dietary supplement product labeling

Professors of Marketing Charles R. Taylor and John Kozup accept the McDonough Family Faculty Award for excellence in academic research.

as well as financial and pharmaceutical information disclo-

The McDonough Family Faculty Award was designed

sure. His work has been published in the Journal of Marketing,

and endowed by Donough McDonough VSB ’81 and his wife,

Journal of Public Policy & Marketing, and Organizational

Victoria, to support the advancement of academic research at

Behavior and Human Decision Processes.

the business school.

summer 2011 | villanova business

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STUDENT Achievements

VSB Team Ranked Second in the Aspen Institute International MBA Case Competition four MBA students won second place in the Aspen Institute Business & Society International MBA Case Competition and took home a prize of $10,000.

“The Aspen Case Competition was the absolute greatest part of my entire MBA experience. It is an incredible feeling to know that we can compete with the top MBA schools in the world,” says Christy Calabro MBA ’11.

Calabro, along with fellow MBA students Evan Taylor MBA ’14, Judy Underwood MBA ’11, and Ulana Chabon MBA ’11, competed against six other teams during the first round, which was held on campus, and then went on to face the top teams from 24 other universities nationwide in the second round of the case competition.

After being notified that they were one of the top five finalists, the four students had one week to convert their submission into a PowerPoint presentation, which they delivered to a panel of judges in New York City. “Completing this case study and presenting our recommendations was a tremendous amount of work,” says Calabro, “but it was so rewarding, and the support we received along the way from VSB was overwhelming. Our goal as a team was to deliver the best presentation we could, and we were so proud of our performance. To hear our names called as the

Aspen Institute International MBA Case Competition second place winners Evan Taylor MBA ’14, Judy Underwood MBA ’11, Ulana Chabon MBA ’11, and Christy Calabro MBA ’11

second place team was just the icing on the cake. That was a moment I will never forget.”

The competition challenges participants to analyze a case study and come up with corporate social responsibility and sustainability initiatives for a major organization, encouraging students to be innovative while taking into consideration corporate profitability and environmental, social, and ethical issues.

Business Without Borders Named Chapter of the Year

Kayleigh Huang VSB ’12 and Daniel Newell VSB ’13 accept the Net Impact Chapter of the Year award on behalf of Business Without Borders.

villanova business | summer 2011

One year after its first meeting, VSB’s Business Without Borders (BWB) student group was named Net Impact Chapter of the Year for 2010. VSB students accepted the prestigious award at the Net Impact Conference, held at the Ross School of Business at the University of Michigan. VSB’s BWB community is one of 48 Net Impact undergraduate chapters in the United States.

Net Impact, which has more than 260 chapters worldwide, is an organization for professionals, graduate students,

and undergraduates that aims to use business to create a socially and environmentally sustainable world.

The mission of BWB is to provide a platform where business students can utilize knowledge from their classroom experience and apply it to the real world. The club organizes special events, recruits visiting speakers, and creates opportunities for students to work both locally and internationally using their business acumen to address social needs.

“We’re thrilled and proud to have won the Net Impact Chapter of the Year Award,” says Robert Hanlon VSB ’11,

co-president of BWB. “It’s a testament to the hard work of our members. This recognition affirms VSB’s strong support of corporate social responsibility.”

“The award highlights the progress our organization has made during its first year. We are very excited to celebrate this achievement and we are also looking to further improve upon our work. We hope that the foundation our organization has built will help stress the importance of sustainable and socially responsible business on Villanova’s campus,” adds co-president Derek Ferguson VSB ’11.

BWB was recognized for its international work in Nicaragua, Kenya, and the Philippines, where the group engaged in international development

projects. Locally, they have been collaborating with the IRS and a nonprofit to help low income clients with tax returns.

Additionally, the group, in collaboration with the Center for Global Leadership and the International Business Society, brought TOM’s Shoes founder Blake Mycoskie to campus.

Taussig Award to VSB Student Kelley Bergsma VSB ’09, MSF ’11 received the Frank W. Taussig Article Award for her paper, “Does Offering Microsavings Make Sense for Microfinance Institutions?” The award, sponsored by Omicron Delta Epsilon (ODE), the

international honor society for economics, is presented to an undergraduate student or recent graduate with the year’s best article on economics.

Bergsma’s paper was submitted for the Taussig Award after she won the Adam Smith Contest, the student research paper competition held annually by VSB’s Department of Economics & Statistics.

Bergsma claimed the first place prize in the 2010 Adam Smith Contest and won $2000.

For winning the Taussig Award, she received a cash prize of $1000 and an opportunity to publish the article in The American Economist, the official journal of ODE. As part of the award, the Villanova chapter of ODE received $200, which was donated to Bergsma’s favorite microfinance organization, Opportunity International.

“Winning this award is very important to me because it will be my first publication in an academic journal. I aspire to become a professor after I complete my PhD studies,” says Bergsma, “so I hope that this publication will be the first of a number of future publications.”

Bergsma is the third Villanova student to win the Taussig award in recent history.

MSF Students Advance in Competition Five Master of Science in Finance students won the local segment of the CFA Institute Global Investment Research Challenge and are advancing to compete in the regional level of the competition. William Albertus MSF ’11, James Keane MSF ’11, Aron Hooks MSF ’11, Robert Singer MSF ’11, and Michael Mack MSF ’11 represented VSB in the CFA Society of Philadelphia’s challenge and beat out teams from five other schools.

For the competition, the teams researched Urban Outfitters, Inc., a publicly traded company, and wrote an equity research report that complied with the standard of the CFA Institute Code of Ethics and Standards of Professional Conduct. Four teams were invited to present their findings to a panel of three experts. After announcing the Villanova group as the Philadelphia winners, the judges and event coordinators took them out to dinner, during which the students received feedback on their presentation, learned about the next stage of the challenge, and networked with

The MSF team of Aron Hooks, Robert Singer, Michael Mack, James Keane, and William Albertus win the Philadelphia competition.

industry professionals.

As local champions, these MSF students will move on to

valuation skills developed during our coursework in the MSF

the regional competition in the Americas, which will culmi-

program, and it was an exciting, fun way to finish the year,” says

nate in a global finale competition. “The Global IRC Challenge

Albertus. “We’ve had an excellent experience throughout the

was the perfect platform to apply the qualitative analysis and

entire process.”

summer 2011 | villanova business

39

40

In Closing

Community Matters—On and Off the Court In the world of professional sports, expansion teams are the equivalent of start-up ventures in the world of business. Alex Martins VSB ’86 has guided four of these athletic start-ups through their birth and growth. His entrepreneurial spirit, first developed as a student at the Villanova School of Business, has flourished during his career and has helped his teams succeed on and off the court.

In 1989, Martins started as director of publicity/media relations with the newly formed Orlando Magic. While working with the Magic, he was integral in the launch of a new minor league hockey team and a new WNBA team. He left the Magic in 1998, to help launch the reborn

Alex Martins VSB ’86 is the president of the Orlando Magic.

Cleveland Browns of the NFL. “For a Accomplishing that goal meant more

while I thought I wasn’t going to get off

future,” he says. “The work ethic that you

of the expansion-team carousel,” he jokes.

show in any relationship is very impor-

than tickets and dollars. It even meant

tant. I wouldn’t be sitting in the role I am

more than winning games on the court.

his first foray into the business of profes-

today if I didn’t work hard in the Villanova

It meant re-igniting DeVos’ commitment

sional athletics, however, he did. In 2005,

office for someone who opened the door

to community throughout all levels of

Martins returned to the Magic to serve

for me to go work for the Magic.”

the organization. “We’ve been getting

as executive vice president of marketing

Now Martins oversees the Magic’s

back to being an important part of our

and franchise relations. A year later, he

day-to-day business operations,

community and giving back in signifi-

was named chief operating officer, and

including corporate marketing, ticket

cant ways. We’ve also been bringing

in 2010 he became the franchise’s new

sales, season-ticket services and opera-

in players of the right character who

president. Martins also now serves on the

tions, community relations, broadcasting,

are committed not only to winning,

NBA Team Presidents Advisory Council.

corporate partnerships, communications,

but to teamwork and the community,”

government relations, arena develop-

Martins says.

As do so many success stories, Martins’ started at the Villanova School of Business. “I got into this sports business

ment, and business strategy.

While the business skills he honed at

The hard work and investment have paid off. Since Martins’ return to the

without the intent of getting into this

VSB are the foundation of his job with

team, the Magic have increased the

business,” Martins says. As a freshman

the Magic, the core values instilled in him

number of season-ticket holders while

from Kearny, NJ, he noticed that the

while on campus have brought Martins—

making the playoffs for five straight

Wildcats’ Sports Information office had

and his team—success beyond the

years, advancing to the NBA Finals in

an open work-study job. “I ended up

bottom line. He is dedicated to the soul

2009. The players and the organization

working there for all four years I was at

of the organization, through everything

are respected in the community and seen

Villanova, and even got to work at the

from ensuring employee satisfaction to

as leaders. Martins recently served as

National Championship basketball game

leading the franchise in giving back to

the chairman of the board for the team’s

when we won in 1985.”

the community. These values, cultivated

Orlando Magic Youth Foundation, which

during his time at VSB, were further

has distributed nearly $17 million to local

by a former assistant sports information

reinforced through working with Magic

non-profit organizations.

director for Villanova who had moved

owner Richard DeVos.

After graduation, Martins was hired

on to the NBA’s Philadelphia 76ers. That

When Martins returned to the

“I think we’re doing some things right, but it takes a lot of hard work,”

same mentor later recommended Martins

Magic in 2005, the season-ticket base

Martins says. “You have to have strong

for his first job in Orlando. “I underes-

was the lowest in the team’s history.

values wherever you are, whether it’s at

timated how strong the ’Nova network

“It was a major rebuilding project,”

a university, in a business, or in a profes-

could be and realized that people I inter-

he says. “We really had to re-engage

sional sports franchise, and stick to them

acted with in college could help me in the

the community.”

and live them every day.” V

villanova business | summer 2011

PHOTO: John Welsh

More than a decade and a half after

I AM A TYPE V PERSONALITY The Top Ranked Villanova MBA Now in Center City.

mba.villanova.edu

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VILLANOVA SCHOOL OF BUSINESS 800 Lancaster Avenue Villanova PA 19085

Villanova University Wayne, PA Permit No. 501

Villanova School of Business

Ranked #7 in the Nation!

Thank You and Congratulations to our Students, Faculty, Staff, Alumni, and Friends!

Contact Madonna Marion-Landais, Associate Dean for External Relations, at 610-519-3109 or madonna@villanova.edu to find out how to get involved with VSB.

Join Fr. Peter Donohue for his “WHAT’S NEXT?” Tour. Visit www.whatsnext.villanova.edu for information, dates, and locations.