CBC Radio – Jeffrey Cohen, a professor at the University of Connecticut’s School of Business, has been researching the benefits of bringing addiction and mental health treatment facilities near public transit routes. His research project ran between 2013 and 2018 is currently a working paper under peer review.
Morgan Darby started her UConn career by commuting to the Waterbury campus and eventually arrived at the Storrs campus. Morgan is pursuing a Dual Degree of a Bachelor of Arts in Psychological Sciences and a Bachelor of Science in Marketing. Balancing this 145-credit course load in 4.5 years required the ability to be malleable and pivot as necessary. The choice to pursue a Dual Degree erupted from a desire to gain a holistic perspective. Morgan understands the value of emotional intelligence in the workplace, explaining that “emotional intelligence or EQ is not only a required skill for life but necessary for effective teamwork and leadership. Now more than ever it’s clear that business doesn’t operate in a vacuum.”
Over the years, Morgan has totaled 7 part time jobs in different industries: retail (clothing, food & beverage), government/nonprofit, education, residential construction, environmental remediation, and research/academia. She explains that learning how to work under various management styles has been beneficial in her understanding of the governance of corporations. She states, “Recognizing where the decision-making power and funding trickles down from has allowed me to more effectively implement feedback as necessary.” One of Morgan’s most standout opportunities was serving as a Project Intern for Shelton Economic Development Corporation. “In a very fast paced environment, I had the privilege of learning how to perform the act of effective grant writing from the President himself.” Morgan recalls, “During my first two weeks, we had a 9-day deadline to successfully earn the city a $410,000 Small Cities Grant for their Sensibaugh Heights project. Seemingly learning on the spot how to acquire and produce 50 supporting exhibits/permissions was a learning curve. This effectively laid the groundwork for future projects which require tight-deadline management. This experience ultimately offered me know-how into navigating cross-departmental communication between the Connecticut Department of Energy and Environmental Protection (CT DEEP), the Mayor’s office, and the local municipality’s Housing Authority. This experience ultimately offered me know-how into navigating cross-departmental communication.” These projects gave Morgan insights into the function and allocation of not only city planning, but an introduction to the expansive world of environmental remediation. As graduation approaches, she is seeking a Marketing position in branding or a role that sits in the realm of ESG/Corporate Responsibility. For students interested in these topics, she recommends the following courses: MKTG 3208 on Consumer Behavior; MKTG 3253 on Sustainability, Markets, Society; MGMT 4900 on Strategy, Policy and Planning.
As a first-generation college student, one challenge Morgan found breaking into the professional world was attaining networking skills. She advises students to discuss their career with everyone, even if it’s just to gain knowledge of a specific industries’ systems. She describes how this exposure can give you a competitive edge on landing your next role. “Being able to bring value to a brand through personal experiences can only benefit consumers and society on a macro level.” She states, “At first, I felt this pressure to fit a certain ‘mold’ of the standard corporate intern, but I found more success by bringing my personality to the forefront of every discussion. Critical problem solving requires thinking outside of the box. Ask questions and try everything!”
UConn Today – Professor Craig Calvert, co-Director of the MEM Program, a top-rated professor, and a champion of students pursuing their job searches, will be honored with the UConn AAUP Teaching Excellence/Early Career Award in April.
UConn Today – The School of Business’ second annual Global Business Leadership in Sustainability Summit offered a blend of optimism and stark reality about the future of business and the planet to a passionate group of students, alumni, faculty, and industry experts.
The event addressed a variety of topics, including how some 90 percent of Connecticut’s food supply is imported. Other speakers warned about companies ‘greenwashing’ their track records and environmental efforts. Even U.S. President Teddy Roosevelt entered the discussion, as he was an early adopter of electric vehicle technology, riding in an electric motorcade during a 1902 visit to Hartford.
UConn Today – Dennis Nash ’04 MBA, the CEO of Control Station in Manchester, a software company that serves a rapidly growing portfolio of leading and multinational manufacturers, has been named Connecticut’s 2023 Small Business Person of the Year by the U.S. Small Business Administration.
UConn Today – On a blue-sky day in the northern region of Jordan, Peter Goggins ’21 (CAHNR) ’23 MEGE, striding through a sprawling field of alfalfa, was reminded of just how much he loves agriculture.
In a navy-blue shirt with the ubiquitous UConn Husky logo emblazoned on the back, Goggins traversed that inspiring alfalfa field as part of a 10-day trip to the Middle Eastern country in January, where he toured farms and aquaculture facilities, met the farmers who operate them, visited agricultural research facilities and import warehouses, and even lunched with a sheik.
Hartford Business Journal – When Aria Penna enrolled at UConn as a finance major she was eager to begin her coursework, but also knew she wanted to get more out of college life than just books and lectures. So she signed up for a relatively new program called Hillside Ventures, a student-led venture fund that invests in early-stage startups. She’s one of six women in the 31-student program.
UConn Today – The School of Business is hosting its second annual Global Business Leadership in Sustainability Summit, addressing issues and ideas shaping sustainability in business, both locally and globally.
The event, from 9 a.m. to 1 p.m. on Friday, March 24, will provide students the opportunity to speak with young alumni, business professionals, and other friends of UConn who share enthusiasm for “business for good.’’
UConn Today – Mark Shenkman ’65 (CLAS), H ’07, an emeritus member of the UConn Foundation Board of Directors, received the Museum of American Finance’s Lifetime Achievement Award during a gala celebration in New York City on Monday, March 13. Shenkman, founder and president of Shenkman Capital Management, was honored for his outstanding career in the investment industry.
School’s Second Annual Sustainability Summit on March 24 Open to Alumni, Friends of UConn
We often do not think deeply enough about the domain of education. It is certainly about reading, writing, and arithmetic taught to our youngest learners as tools to enable them to learn more and explore more and grow more. As they move through their lives, the intellectual challenges evolve and the depth of their study and understanding grow apace. It has been my privilege to work in university settings for most of my adult life, among colleagues pursuing the next big idea and challenging received wisdom, while incorporating their innovations into writing, textbooks, and teaching.
In the Business School at UConn, we are constantly rethinking and revising our curriculum to focus on what is important. An example of a long-term evolution is the Friedman Doctrine. In 1970, University of Chicago professor Milton Friedman published an article in the New York Times declaring that a business does not have any social responsibility to society beyond serving its shareholders. The notion was that profit maximization arose from the most efficient use of resources and as the profits were realized and distributed to the shareholders, the shareholders had the ability to use these returns as they wished to support socially important needs. This idea was embraced in business schools and became a foundational principle for finance. It also drove a bit of a wedge between the schools of business and scholars at their universities.
Triple Bottom Line Embraces Profits and More
Over the ensuing 50 years, many challenges to this doctrine emerged. Today there is the notion of a “triple bottom line” that suggests value maximization is not just about profit, but also includes people and the planet. Corporate social responsibility (CSR) and investing based on environmental, social, and governance (ESG) outcomes have emerged as a growing area of interest for our students and the companies who recruit them. Educators and employers know that the younger workforce of today cares about how their employer serves its community and the planet.
At UConn, our students are passionate about our planet and preserving it for their children and grandchildren. The Aspen Institute ranks UConn among the Top 10 universities addressing environmental issues, but our students want more. UConn President Radenka Maric recently responded by pledging carbon neutrality for the campus by 2030. The clock is ticking.
For our part, the School of Business is convening our second annual Global Business Leadership in Sustainability Summit on March 24 for students to learn more about this rapidly growing area and to meet alumni and corporate partners. Alumni and friends of UConn are welcome to attend.
Critical Thinking, Cultural Awareness Key to Business Education
The School of Business is often thought of as Milton Friedman’s apostles, where the profit motive rules supreme. Not true. Our colleagues in Arts and Sciences sometimes forget that half of undergraduate coursework in the business school is in the arts and sciences and many of our courses mandate both critical thinking and cultural awareness. Moreover, in the last several decades CSR, the environment, human rights, and other balance points for profit maximization have moved to the forefront of our curriculum. But they are balance points. The core notion that efficient allocation of resources to produce goods and services at low cost is one we embrace and we educate students in how to accomplish that.
For example, UConn has a Business and Human Rights Initiative, something that is unusual in higher education. The business school partners with the University’s Gladstein Family Human Rights Institute to develop and promote programs and activities that raise attention and awareness to global abuses of human rights. We will soon be launching a master’s degree and a set of certificates built around CSR. We expect many of our MBA students to make a subset of these experiences part of their education. In fact, our new MBA Now courses will offer a special series of elective courses in 2023-24 focused on sustainability and the supply chain. At the university level, in response to student interest, we have changed the common core that everyone must take to include an environmental course.
Humanitarian Benevolence Varies Greatly
In educating our students, one important objective is perspective. They must be able to evaluate “doctrines” thoughtfully and dispassionately. “Doctrines” by the nature of the word are belief systems that are extolled by groups, often religious or political. This notion is antithetical to the university. The Friedman Doctrine is appealing and simple. But it misses a great deal. It is built on an assumption of perfect markets and informed, benevolent citizens.
The perfect market assumption fails because of positive and negative externalities. Companies seeking to maximize profits make self-serving decisions when the costs of their polluting activity do not fall on them—a negative externality produces positive profit for the enterprise. The neighborhood bears the cost of bad water, etc. Informed benevolent citizens is also a failed assumption. In the USA today, we have familiar examples of people who have pledged the majority of their extreme wealth to nonprofits. Buffett, Gates (Bill and Melinda), Bloomberg, and Bezos follow in the path of Carnegie, Ford, Morgan, and Vanderbilt. But other uber-wealthy individuals have no apparent social conscience. So, the Friedman Doctrine is built on shaky ground that fails to incorporate externalities and overstates a shared humanitarian objective for those who benefit from (and influence) government policy.
The School of Business is committed to providing a curriculum that explores these important ideas, requires students to evaluate the nuances of ideas and opportunities, and gives them license to learn what they want to learn to enhance their future. We have launched a series of new programs that give students more license to choose their path. And we seek to engage them in open dialogue about not only efficient allocation of resources but also thoughtful investment in the future of our economy.