School of Business featured news
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
The sudden death of her father was a horrible personal tragedy for Dorothy Carlone’01 MBA and her family. But for the 14 dedicated employees at General Machine Co. in Berlin, pain mixed with panic, knowing that the company Walter Grzegorzek founded might not survive without him. Continue Reading
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
Tim Folta, professor and Thomas John & Bette Wolff Chair in Strategic Entrepreneurship, was named editor for an upcoming 2016 issue of Advances in Strategic Management on the topic of “Corporate Strategy and Resource Redeployment.” Folta was also appointed to the editorial board of Strategy Science and accepted as a fellow to the University of Strasbourg Institute for Advanced Study.
Hongju Liu, assistant professor of marketing, presented a research seminar on advertising spillovers in the pharmaceutical industry on May 2 in the School of Business.
Bill Ross, professor and ING Global Chair, along with co-authors Saerom Lee (University of Texas at San Antonio) and Karen Page (Penn State), were recently published in the Journal of Consumer Research for their research on the roles of empathy and justice in charitable giving.
Data released by Academic Analytics for the 2009-2013 period places UConn’s Management Department in first place (tied with Penn State) in per capita scholarly productivity. Known as the Faculty Scholarly Productivity Index, this ranking considers the research activity of 186 universities nationwide.
The Association for Information System’s (AIS) Senior Scholars’ Basket of Journals ranks UConn’s Operations & Information Technology Department in the top 15 schools worldwide for research productivity over the last five years and 10th in the top two premiere journals alone.
Faculty members retiring from the School this year include Walter Dolde, Linda Klein, Gim Seow and Jim Sfiridis.
The MS in Business Analytics and Project Management (MSBAPM) Program has been listed among the most prominent big data and analytics degree programs by BI Software Insight.
The School was recently recognized by Insurance News Net for its adaptability to the job market in expanding business programs at UConn Stamford, as well as strengthening its ties with the business community.
Fiserv, Inc., the Savings Bank of Danbury, and Greylock Federal Credit Union have partnered with the Financial Accelerator to develop a business case for enhancing the millennial banking experience through leading-edge technology from Fiserv.
IBM is partnering with the School as part of a nationwide education initiative to help expand and launch new curricula, as well as provide students with business knowledge and IT skills for data intensive careers.
The Financial Management undergraduate major at UConn Stamford has been accepted into the CFA Institute’s University Recognition Program, offering students exclusive support from institute member companies such as Barclays, CreditSights, and Atlantic Asset Management, including access to a wide array of research and financial analytic tools.
The School’s Connecticut Information Technology Institute (CITI) at UConn Stamford has been authorized to provide project management certification training for veterans and other eligible U.S. Department of Veterans Affairs beneficiaries.
The School’s Volunteer Income Tax Assistance (VITA) Program completed its 14th consecutive year with 68 student volunteers assisting 650 taxpayers in completing their income tax returns. The IRS-sponsored program provides free tax assistance and tax return preparation services for individuals who are economically disadvantaged, as well as for international students and scholars.
UConn’s new research partnership in sustainable energy with the Technion-Israel Institute of Technology was awarded a supporting gift from the Satell Family Foundation, founded by Ed Satell ’57.
The School has joined a newly formed Military & Veterans Employer Resource Group (ERG), a collaboration of employers, institutions of higher education and veteran groups dedicated to veteran-centered topics in the workplace, including deployment, resume sharing and buddy programs.
On June 25, the Board of Trustees approved a Master of Science degree and Advanced Business Certificate in Human Resource Management beginning fall 2014.
As of July 1, the Full-time MBA Program and Graduate Career Center have officially moved from the Storrs campus to the Graduate Business Learning Center in downtown Hartford.
Two UConn teams (out of 200 entrants) placed in the 2014 Connecticut Business Plan Competition: UConn Stamford undergraduates Karlian Brown and Christian Tovar won three months of free co-working space in the Stamford Innovation Center; and Michael Maczka ’14 MBA won a $500 grant for Best Oral Presentation and $2,500 in legal services.
Doctoral student Margaret Luciano (management) was awarded a Society for Human Resource Management Foundation (in partnership with the HR Division of the Academy of Management) Dissertation Grant for 2014 to support her dissertation research.
Recipients of the 2014 Departmental Ph.D. Student Teaching Awards include: Biyu Wu (accounting); Yihong Xiao (finance); Wonseok Choi (management); Selcan Kara (marketing); and Gang Wang (OPIM). Wang also received the School’s Outstanding Ph.D. Student Teaching Award. Margaret Luciano (management) received the 2014 Outstanding Ph.D. Program-wide Student Scholar Award.
On April 8, the MS in Business Analytics & Project Management Program hosted a career fair in Hartford with representatives from 10 companies and more than 60 students participating.
On April 24, the Accounting Department hosted more than 300 guests at its annual honors banquet and awarded 157 student scholarships.
On May 1, the 12th annual Real Estate awards banquet honored 28 students, alumni, faculty and businesses for their outstanding contributions and achievements.
On May 22, UConn Stamford hosted the first International Haitian Diaspora Summit on Education and Business to promote education, business and cultural exchanges between the State of Connecticut and Haiti.
On June 18, the School, together with Vichara Technologies, hosted “How Technology Can Drive Your Performance Edge,” a 100 Women in Hedge Funds® event at the Stamford campus.
Ernest A. DiMattia, Jr. ’81 MBA, former faculty member of the UConn School of Business and president and chief executive officer of The Ferguson Library in Stamford, Connecticut, passed away on June 28, 2014.
A professor at the UConn Center for Real Estate and Urban Economic Studies was recently admitted to practice law before the United States Supreme Court. Attorney Lucy Michaud, whose areas of expertise are real estate and business law, has been working with the real estate center at the School of Business as asst. ext. professor and a liaison to the Department of Consumer Protection.
Michaud was among 14 attorneys invited to apply for the special designation by the Phi Alpha Delta Law Fraternity, International (P.A.D.). The accepted group was inducted to the Supreme Court of the United States in a ceremonial ritual on June 2, as part of the 48th annual P.A.D. Day held in Washington, D.C.
Phi Alpha Delta Law Fraternity, International is the largest co-ed professional law fraternity in the United States. Justices Samuel Anthony Alito, Stephen G. Breyer, Ruth Bader Ginsburg, Elena Kagan, and Sonia Sotomayor are all P.A.D. members. Following the swearing-in ceremony, Justices Ginsburg and Sotomayor visited with the group to individually meet the inductees.
Pictured: Lucy Michaud (front, right) and P.A.D. members pose with Supreme Court Justice Sonia Sotomayor (front, center).
We are pleased to announce the winner of the 2014 UConn School of Business Outstanding Ph.D. Program-wide Student Scholar Award.
The purpose of the program-wide award is to recognize a Ph.D. Student Scholar in the School of Business, regardless of stage in the doctoral program, for outstanding scholarly performance.
The award is determined by department nomination and vote by the department faculty coordinators and academic director.
From a group of highly-deserving doctoral student nominations from each department, the recipient of the 2014 Program-wide Outstanding Ph.D. Student Scholar Award is:
Management – Margaret Luciano
Luciano will be entering her fifth year in the Management concentration of the doctoral program in Fall 2014 at the dissertation phase.
Please join us in congratulating Margaret for her scholarly excellence.
This article first appeared in the UConn Business magazine, Volume 4, Issue 2 (Spring 2014)
* Links direct to the Business Alumni Network
Scott S. Cowen ’68, ’10H has been awarded the 2014 TIAA-CREF Hesburgh Award for Leadership Excellence. Cowen and his wife, Marjorie, were also recently awarded the Hannah G. Solomon Award by the National Council of Jewish Women.
Robert J. Genise ’75 MBA has been appointed as an independent board member at Frontier Airlines. Genise is currently chairman of the board of PCA Aerospace and chief executive officer of Aergen, LLC.
James F. Klotz ’77 has been appointed to vice president, claims strategic operations systems at Selective Insurance Group. Mr. Klotz has held positions such as senior vice president and chief information officer at PMA Insurance and vice president of information systems at Travelers.
Robert E. Schneider ’79 MBA has been appointed to second vice president, compensation at The Phoenix Companies. Mr. Schneider will manage general and executive compensation programs for the company.
Claire R. Fennessey ’86 joined Clarus Marketing Group as the chief marketing officer. Ms. Fennessey has over 20 years of marketing experience and most recently she was the president of Palm Publishing.
Daniel A. Migliaro ’88 has been named vice president, commercial business development officer, at Newtown Savings Bank. Mr. Milagro also serves as a board member of the Connecticut Business Development Corporation.
William M. Nelson ’87 MBA has been named as the manager for high income funds at Ivy Funds. Mr. Nelson is also a portfolio manager of Ivy Funds VIP High Income and Waddell & Reed Advisors High Income Fund.
Steven C. Snelgrove ’80 has been named president of Howard County General Hospital, a Johns Hopkins Medicine member institution.
Gregory J. Trudel ’83 has been appointed to president and CEO of Encision Inc. Most recently he was the global director of marketing within a division within the Surgical Solutions Group at Covidien.
Rita J. Ugianskis-Fishman ’88, ’95 MBA has been named vice president and general manager of The ASI Show. Ms. Ugianskis-Fishman was most recently managing director of Penton’s Waste Industry Group and is an accomplished trade show executive.
Anne M. Wilkins ’88 has joined AllazoHealth as an advisory board member. Ms. Wilkins has more than 20 years of healthcare experience with a long history of leadership in population health management.
Jonathan R. Collett ’95 has been elected to partner at CohnReznick in Glastonbury, Connecticut. Mr. Collett is a certified public accountant and is a member of the firm’s financial services industry practice group.
Matthew D. Danyliw ’99 has been appointed to senior vice president of Khamelon Software, Inc. Prior to his appointment at Khameleon, Mr. Danyliw was chief financial officer of Office Furniture, Inc.
Lyle T. Fulton ’94 MBA has joined Guilford Savings Bank as the vice president, commercial loan officer. Mr. Fulton is a seasoned commercial lender in northern Connecticut with over 25 years of experience.
John Y. Kim ’87 MBA has been elected a vice chairman of New York Life. Mr. Kim will now oversee the company’s technology function. He is currently the president of New York Life’s Investments Group.
Anthony A. Licata ’95 has been appointed chief operating officer by Morgan Lewis & Bockius. Prior to his appointment at Morgan Lewis & Bockius, Mr. Licata was chief operating officer at Dechert.
Luigi A. Peluso ’93 MBA has been named managing director of the enterprise improvement group at AlixPartners. Prior to his appointment at AlixPartners, Mr. Peluso served as senior vice president of operations at Hitachi Consulting Inc.
Thomas P. Trutter ’99 MBA received the 2013 Construction Industry Recognition Award from Associated General Contractors of Connecticut. Mr. Trutter is currently UConn Health Center’s associate vice president of campus planning, design, and construction.
Adam B. Camara ’03 is the co-founder of the national internet marketing firm, Network for Solutions.
Joshua J. Gopan ’02 has been appointed as director of leasing of Hutchinson Metro Center. Mr. Gopan previously worked at Colliers International where he served as a leasing specialist and managing director.
Greg Oshins ’05 MBA has been promoted to vice president of investments at National Realty & Development Corporation. Mr. Oshins has been at NRDC since 2006 when he was a member of the acquisitions and development team as well as the company’s leasing team.
Amanda H. Wallace ’07 MBA has been recognized as a 2013 Working Mother of the Year for representing the best in working motherhood as well as for her outstanding leadership ability. Ms. Wallace is the assistant vice president of strategy and planning for the U.S. insurance business at MassMutual.
Ryan G. Demadis ’11 has been appointed to vice president, associate producer at NorthMarq. Prior to his appointment at NorthMarq, Mr. Demandis was an associate broker at RM Bradley. He is also the co-founder/director of fundraising for RiseUp Leadership Development Program which provides financial support and mentoring for inner city youth.
Lauren D’Innocenzo ’14 Ph.D. successfully defended her dissertation titled, “Predicting Leader Role Occupance: An Exploration of Shared Leadership Emergence in Project Teams”. Dr. D’Innocenzo accepted a position as assistant professor of management at Drexel University.
Erin Henry ’14 Ph.D. successfully defended her dissertation titled, “The Information Content of Tax Expense: A Firm- and Market-Level Return Decomposition.” Dr. Henry has accepted a tenure-track faculty position at the University of Tennessee.
Bryan P. Schmutz ’13 Ph.D. successfully defended his dissertation titled “Essays on Life Insurance and Healthcare Finance.” Dr. Schmutz has accepted a position at Western New England University as an assistant professor of finance.
Claire Simonich ’13 received the Undergraduate Student Award at the UConn Provost’s Awards for Excellence in Public Engagement. Ms. Simonich spent her time at UConn working in the Office of Community Outreach to lead a new Alternative Spring Break trip to Appalachia focused on rural poverty and labor law. She also led an English language tutoring program for international students at UConn.
Marinela Shqina ’11 has been promoted to controller at Arbors of Hop Brook in Manchester, Connecticut. Ms. Shqina is also a member of the Association of Health Care Facilities, Healthcare Financial Management Association and is a non-CPA member of the Connecticut Society of CPAs.
Tingyu Zhou ’14 Ph.D. successfully defended her dissertation titled, “Three Essays on Decision Making Strategies.” Dr. Zhou has accepted a tenure track position as assistant professor at Concordia University in Montreal.
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This article first appeared in the UConn Business magazine, Volume 4, Issue 4 (Spring 2014)
For alumnus Christopher Lafond ’87 (CLAS), service to community goes hand-in-glove with philanthropy, and he demonstrates both through a new named scholarship fund for students studying at the Stamford campus, where he is also an active volunteer.
Lafond, the CFO and executive vice president of Gartner, Inc., a leading information technology research and advisory company based in Stamford, is a common sight on UConn’s regional campus. He serves on the advisory board for the MS in Financial Risk Management (MSFRM) degree program, regularly speaks to business classes and is helping with programs in the undergraduate marketing department.
“I have a pretty clear perspective, and I’ve chosen to spend my time volunteering in a few areas, mainly around education. Everyone deserves a great education like I had, and if you don’t build a strong, educated foundation in life, it’s very difficult to get ahead.”
He first became involved with the campus when the University reached out to him with an invitation to serve on the MSFRM advisory board, a step that he sees bringing benefits to both the University and the business community in Stamford.
“We have almost 700 employees here; this is local and close to home for us. When we looked to partner with educational institutions, we quickly realized ‘Hey, there’s a great University right here in Stamford.’ It just works for everyone involved.”
Lafond started a financial development rotation program within Gartner, exposing Stamford MBA students to a variety of financial service areas, as well as taxes, business intelligence and more. He says, though, that he especially enjoys personally sharing his business experience with classes of students.
“One of the best experiences for me is making education real,” he says. “I’ll get a question like, ‘Chris, I’m studying this business situation; how would you handle it?’ and I’m able to take the theoretical and turn it into applied practice. I just get a great deal of satisfaction out of it. It takes so little of my time and means so much.”
Lafond soon decided to make a major philanthropic gift to his alma mater, and the decision to create an endowed scholarship for business students at the regional campus was an easy one.
“I know from my involvement at UConn Stamford that there are a lot of students who may not be able to go to Storrs for family or personal reasons. But I want them to look back at their time at UConn and say, ‘I had a great education right here in Stamford.’ And I want to make sure that my gift provides ongoing support, not something that goes away after a one-year period. It will be there for years, helping many students.”
He sees countless opportunities for alumni like him to make UConn stronger through volunteering or philanthropy.
“There are literally endless ways to give back, whether to UConn or whatever else you care about in life. It doesn’t have to be money! If you take an hour of your life and spend it with students, you’ll get the most amazing feedback, and you’ll feel that you’re really making a huge impact in someone’s life. When I am at UConn, I know that I’m helping those students graduate with knowledge they didn’t have before, which will help them in their own careers. So, alumni have an opportunity every day to add value to even their own education. It’s a little thing we can do to help a student that makes a big difference.”
He says that just like the impact of educating students, he wants his philanthropy to pay dividends in life for those who receive the scholarship support.
“I would hope that my scholarship allows some students to have opportunity they otherwise would not,” he says. “If I can help even a single student, that would be such a great thing to accomplish.”
This article first appeared in the UConn Business magazine, Volume 4, Issue 2 (Spring 2014)
When she enrolled in the University of Connecticut four years ago, Andrea Llivichuzhca ’14 wasn’t sure that majoring in business was the best choice for her.
Today the graduating senior, an accounting major, knows she made the right decision.
Llivichuzhca has an impressive resumé, which includes an internship at GE, participation in a corporate leadership program, and a 10-day trip to Paris sponsored by the School of Business. Her experiences also included an internship at The Hartford, where a job is waiting for her after graduation.
She credits some of her success to a choice she made the summer before college—to live in a new, experimental Business Connections Learning Community (BCLC). Located within Belden dormitory, the BCLC opened in 2010 exclusively to incoming UConn business students. Designed to foster their success, the BCLC’s goal is to make students feel like a part of the School of Business from their earliest days on campus.
“I had such a great experience there,” said Llivichuzhca. “I developed close-knit friendships, I visited interesting companies, and I figured out what I wanted to do with my life. I found my passion. I found myself.”
Whether visiting Wall Street or local companies, traveling abroad, or enjoying a lunch-time lecture on how to make the most of LinkedIn, the BCLC program caters to the needs of aspiring business students. The programs offered supplement the traditional curriculum and are a special benefit of living in the community.
The first class of students to participate in the program will graduate this year. Although the evidence so far is anecdotal (a formal study is underway), the popular program seems to be paying off with great success. Most of the BCLC participants will be leaving the university with job offers in hand.
“This program is all about helping students acquire the awareness, skills and insight they need to succeed, as soon as they arrive at UConn,” said Nathan Ives, director of alumni relations and co-director of the BCLC. “We want to instill in them from the beginning that they’re part of something special. This is a unique program, and there are many ways to fit in.”
“I like to think of it as a vitamin supplement that gives you the critical thinking tools and skills you need,” he said, “and a powerful way to secure internships and, ultimately, jobs. Our program is making a difference for these young adults.”
The BCLC program accepts about 150 students each year. The program grew out of student concerns that they didn’t feel “connected” with the School of Business until junior year when they began taking their business classes.
At the BCLC, faculty and staff are available to help students move in, give them a tour of the business school, introduce them to the Dean, and make them feel welcome. Originally designed for freshmen, the program is now open to sophomores by popular demand.
“The first day, move-in day, was a little crazy; but in a good way,” said Sydney Morrison ’17, a freshman from Trumbull. “I was nervous about what my classes were going to be like, getting around the big campus and meeting new people. But my accounting professor came by and asked how everything was going, and the sophomores, too, were very welcoming. I was more excited to start my college career.”
Llivichuzhca remembers that first impression as well. “I couldn’t believe professors helped freshmen move into the dorm! But that’s the culture of the learning community. Everyone gets involved from day one,” said Llivichuzhca of Bristol. “I always had a feeling that the people in the School of Business were looking out for us.”
Not only do students appreciate that extra attention, their parents do as well, because they feel like the University has a greater stake in their child’s success, Ives said.
The first goal of the program is to help the freshmen bond as a class. Students residing in the BCLC usually take several required classes together, including a First-Year Experience class. Because they live together, it is easy to form study groups before tests or exams.
They are also required to serve on one or more BCLC committees, including community service, international, marketing and public relations, social, sports, house and outreach, which usually leads to strong friendships.
Nick Walcott ’14 from Framingham, Mass., lived in the BCLC his first three years on campus, the latter as a Resident Assistant.
“At first I was very unsure about whether I’d want to live exclusively with business majors, but being from out-of-state and not knowing anyone, I thought it would help my transition,” said Walcott. “I met friends quickly. UConn is a huge school, so that helped it feel smaller.
“As a first-generation college student, I really didn’t know what college was about,” Walcott said. “People showed me the ropes and wanted to help me. I had such a great experience there that I wanted to offer others the same.”
Another unique component of the BCLC program is that it offers an annual business-oriented international trip. In its inaugural year, students went to Paris. The following years they went to Munich and Prague, followed by Beijing and Shanghai. This May, students will travel to Madrid and Barcelona.
Samantha Ragusa ’17, a sophomore from Cheshire, said she thinks her trip to Beijing and Shanghai will give her an edge in the workplace.
“I went to historical sites like the Great Wall, but also got to tour five or six companies while I was there. It was great to get that close-up view of international business,” she said. “When I interview, I think it will be something impressive and interesting to talk about.”
The annual trips are underwritten in part by generous alumni contributions that make them more affordable for students, Ives said.
Rebecca Smith ’14 of Niantic lived in the BCLC as a freshman and sophomore and returned as a Resident Assistant her senior year. Now planning a career in healthcare management, she was able to travel to Paris, Munich, Prague and Guatemala during her time at UConn. This summer she will travel through Europe with friends she made her freshman year in the BCLC program.
“You’re making these great connections with your peers, faculty and alumni,” Smith said. “And you know you will meet them again, professionally, at some point in your career.”
Robbie Simpson ’14 from Milford, will begin work at PricewaterhouseCoopers in January. He hopes the BCLC will continue for many years after he leaves UConn.
“UConn is a huge school with so many opportunities and so many people. You have to find a niche,” he said. “What better way than to live with other people who share your interests? By the end of the year, I knew everyone by name.”
“Many freshmen don’t know what to select for a major and this program challenges you to explore new avenues,” he said. “At the same time, it doesn’t consume your whole life. Students still have time for sports or Greek life. I think it works so well because the people in charge really care about it. They made the BCLC really special with all the effort they put into it.”
Through his connections in the BCLC, Walcott got a job working in the School of Business. One day he was asked to give a tour to a potential student. At the end, he gave her his contact information and said to text him with any questions. It turned out the future student’s mother was a high-ranking executive at Deloitte, where Walcott has now accepted a full-time job.
“Thanks to the BCLC, you just have so many connections as soon as you walk in the door,” he said.
Fran Graham, manager of alumni relations for the business school, said her favorite part of the BCLC program is simply the students.
“You see them transform rather quickly. They enroll in the First-Year Experience classes and they just come alive. They visit the School of Business and they serve on one of the committees and they come out of their shells.”
“Many of them come in not knowing what their concentration will be. Some change their major five times! But they soak in everything that’s offered to them. On the international trips, they are in awe. ‘I could work here!,’ they say. They start thinking like business people. They are a joy to work with.”
Without a question, the connection between students, faculty and School of Business staff has strengthened enormously because of the program, Graham said.
“It’s so fulfilling to see them grow and understand the opportunities that are available to them. It’s phenomenal,” she said. “Commencement is going to break our hearts. But we’re so happy for them.”
This article first appeared in the UConn Business magazine, Volume 4, Issue 2 (Spring 2014)
No one can dispute the vital role that doctors, nurses and other medical specialists play in the functioning of a hospital.
But insiders know that the reliability of the transportation team—that takes people to the operating room, the birthing center, or to their waiting cars—is also vital to a hospital’s success.
At Middlesex Hospital, the transport team has increased its case load from 500- to 1,400- trips per week, not by adding staff but by creating efficiencies, according to Gary Havican, vice president of operations.
“That’s one of the changes that has helped us decrease the average patient length-of-stay by one day,” said Havican. And that’s making everyone happy—from patients to physicians to health insurers.
Middlesex is always looking for ways to improve customer service and efficiency, and to that end Havican enrolled in a two-day, Hands-On Lean Business Process Improvement workshop at UConn’s Graduate Business Learning Center in downtown Hartford.
Some 15 participants from various industries, including healthcare, insurance/financial services, creative services and higher education, took part in the inaugural “open enrollment” Lean Business seminar offered by the business school’s Executive Education program.
“Lean Business Processing is particularly important for Connecticut companies where the cost of doing business is one of the highest in the country,” said Colleen McGuire, director of UConn’s School of Business in Hartford.
Once the domain primarily of manufacturing companies, the Lean concept is growing in popularity among other sectors eager to streamline business processes, reduce waste and improve customer satisfaction.
Companies today are facing enormous challenges as they fight to remain competitive and survive, said David A. Burn, Ph.D., an adjunct instructor at UConn who taught the course. The workshop gave participants a “road map” and simple tools to improve business processes by eliminating waste and improving services to enhance value for customers and stakeholders, said Burn, who also works as chief statistician and Six Sigma Fellow in corporate operations with Boston Scientific Corporation.
“We aren’t offering any one-size-fits-all solutions,” he said. “But this is a guide that does work.”
Ann Swanson, director of project management at Prudential, attended the program with three colleagues. “I enjoyed this course because it was hands-on,” she said. “I’m leaving with ideas that I can use right away.”
Swanson said she enjoyed an exercise in which the participants were required to organize a radiology department and were presented with confusing and incomplete information.
“I think that’s typical of what happens in companies when tasks become ‘siloed’,” she said. One of the important messages that Burn emphasized was that employees need to share knowledge and not rely solely on one specialist to address a particular issue.
Peggy Thomsen, business analysis manager for CIGNA, said the class was very helpful. Managing her company’s IT department is like running a small business, she said. She is returning to the insurance giant with new techniques to improve consistency across all areas of the department.
Alicia Huckle, director of financial services for UConn’s West Hartford campus, said she’s eager to try new ideas that will improve work flow. “We all want the same thing, which is a better experience for our students,” she added.
“This is something any business can use,” said Vikki Hampton, assistant director of loan programs in the Office of Student Financial Aid Services at UConn in Storrs. “Across many industries, people are looking to do more with less.”
The School of Business plans to offer the Lean Business program again in the fall, as well as other short-term classes, including Finance for Non-financial Managers, to meet the needs of the business community.
For more information on Executive Education courses or customized programs, please see our website at execed.business.uconn.edu or call 860-728-2400.
This article first appeared in the UConn Business magazine, Volume 4, Issue 2 (Spring 2014)
When a teenage boy asked if he could buy a World Wrestling Entertainment t-shirt, then-CEO Linda McMahon came up with a quick response.
“Not yet,” she told him. His question helped launch the WWE’s highly profitable consumer products division, adding toys, books, video games and apparel to the growth of what was already a global empire.
“Be open to new ideas, no matter where they come from,” McMahon advised almost 200 people who attended a “CEO Evolution” roundtable discussion on UConn’s Stamford campus.
“Treat every day like it’s your first day on the job. Look at things with fresh eyes,” said McMahon, who grew her company from 13 employees to more than 700. “Don’t do something just because it’s the way it’s always been done.”
Co-sponsored by the UConn School of Business; Citrin Cooperman, an accounting, tax and consulting firm with an office in Norwalk; and the Fairfield County Business Journal, the CEO Evolution program was held on the Stamford campus in January.
The event tapped the expertise of four executives whose companies are among the most successful in Connecticut—and beyond. Coming from industries as diverse as healthcare, technology, service and entertainment, a common theme involved recruiting and hiring outstanding employees.
Dr. John Votto ’73 (CLAS), CEO of the Hospital for Special Care in New Britain, said the key to running a successful organization is finding the right people and trusting them to do what is best.
“So often in today’s hectic work environment we lose sight of that one very simple thing,” said Votto, who has overseen a $65 million hospital expansion and the development of programs enhancing the physical rehabilitation, respiratory care and medically complex pediatric programs.
“It’s not uncommon for successful workplaces to have their fair share of inflated egos, so I’m very up-front with my employees: I respect you, I believe in you—but no one is irreplaceable. You should always be working your hardest and striving to secure your job.”
The idea for the panel discussion originated with Mark Fagan, the Connecticut managing partner of Citrin Cooperman and the author of a popular series of CEO advice columns titled “The CEO Evolution” published in the Fairfield County Business Journal.
“A CEO’s ability to manage effectively is probably the most important factor in driving a company’s growth,” Fagan said. Too often the top executive gets mired in petty details.
“One common thread expressed by each panelist was the need to identify talent and enable talent, which ultimately allows the CEO to devote the majority of his or her time to looking toward the future and determining where the company is going,” Fagan said. “That enables the CEO to concentrate on developing the next product or brainstorming the next acquisition.”
Jud Saviskas, executive director of the UConn School of Business in Stamford, said the executives’ honest and insightful answers made for an informative evening.
“What CEO, or future CEO, wouldn’t relish the chance to spend two hours learning the strategies, challenges, missteps, opportunities, ideas, and wisdom of four incredibly successful business owners?” Saviskas said.
“All four panelists were fascinating. And because they represented industries as diverse as healthcare and entertainment, they gave comments that you might not expect,” he said. “Each one stressed the importance of hiring great talent. I think that was the biggest take-away message.”
Paul Senecal, president of United Services of America, a $35 million cleaning and maintenance company based in Bridgeport, said an organization’s mission needs to be clear. “We are not in the cleaning business to make money,” he said. “We are in the cleaning business to have clean buildings, because if we do, our valued customers will allow us to make a reasonable profit.”
Running one of the largest commercial cleaning companies in the Northeast, Senecal discussed the challenges of managing 1,700 employees, dispersed in different locations.
The culture of his organization is one in which all employees share the same goals, objectives and vision, he said. “We tell each other, and most importantly ourselves, the truth, and conduct ourselves in the same manner as we want to be treated,” Senecal said.
Panelist Austin McChord is the founder and CEO of Datto Inc. of Norwalk, whose company offers data backup service for disaster recovery and business continuity. In 2013, the company marked its fourth year of 300 percent annual growth and has received industry recognition for excellence and technical support. The audience was intrigued when McChord, 28, explained that he recently turned down a $150 million buy-out offer because he believes he hasn’t yet maximized the company’s potential.
After the program, McMahon noted that only 22 women are CEOs of Fortune 500 companies, indicating that many talented people could benefit from others who can “light the path” to the corner office. “We get no benefit keeping what we’ve learned to ourselves,” she said. “The wisdom we developed over years—or in my case, decades—of experience can be relevant to just about any entrepreneur.”
The CEO Evolution program was so successful that Saviskas said he expects it to become an annual event. “It fits well with the School of Business’ mission,” he said, “not only to educate future business leaders but to also provide learning and networking opportunities for the existing business community.”
This article first appeared in the UConn Business magazine, Volume 4, Issue 2 (Spring 2014)
Professor Katherine Pancak always wanted to teach a course on sustainable real estate, but didn’t know if she had enough expertise.
After taking a University of Connecticut-sponsored faculty education trip to Australia, she came back ready to tackle it. This spring she led a one-credit course on sustainable building principles and practices that gave students the core knowledge needed to become a certified green building professional.
“From a real estate perspective, we are on the verge of an enormous change,” said Pancak, a professor of finance and real estate. “From new construction to retrofitting older buildings, everyone is concerned about sustainability. It is not just an environmental issue, either. It is driven by economic and social needs as well. This is the wave of the future.”
The University of Connecticut is one of only 33 institutions of higher education in the country to house a Center for International Business Education and Research (CIBER) program, which is funded by the U.S. Department of Education, according to Managing Director Kelly Aceto. The “Green Business: Australia” program is also open to faculty from other colleges, and this year professors from seven universities participated.
“Australia is on the forefront of incorporating sustainability into business,” Aceto said, and learning from their experts was the purpose of this trip. “The people we’ve met there are not only extremely knowledgeable but also are genuinely interested in sharing their approaches with our faculty.”
“We’ve received excellent feedback about the trip,” she said. “In fact, almost universally the professors asked if they could return a second time!”
The 11-day program is a balance of academic and cultural activities. Faculty spent considerable time learning about real estate development, construction and property management in Sydney. They also visited with a local Aboriginal community, Muru Mittgar, and learned about the indigenous people’s land-stewardship philosophy. Other speakers discussed everything from responsible mining to Australian health care. Participants visited manufacturing facilities, a brewery, and the Brisbane City Council.
Another highlight is a trip to the University of Queensland in Brisbane, where Andrew Griffiths, dean of the Business School, goes out of his way to make sure the Americans have a memorable trip.
“We hope that the participants leave generally better informed on a range of sustainability concepts, and that they are able to translate this passion into a range of direct outcomes for themselves, their communities and their students,” Griffiths said.
Griffiths, one of the first scholars in the world to study corporate resilience and adaptation to long-term global climate change, offered perspectives on industry sustainability and strategies for integrating topics across the business school curriculum.
“The key points of the program are understanding that there does not exist a ‘one best way’ approach to sustainability,” he said. “We try to engage our guests with key individuals who are running sustainable business – to demonstrate the innovation and creativity at work.”
This year’s program included the introduction of the faculty from both Australia and the United States. “From this exchange it appears that our colleagues are talking about collaborations, not all sustainability based, but also about exciting opportunities in their own fields of research and teaching,” he said.
Sue White, a finance professor and distinguished teaching fellow from the University of Maryland’s Robert H. Smith School of Business, said the experience was remarkable.
“We toured firms that were dedicated to sustainability. For example, we visited firms that have incorporated nature into their high rise buildings, while being very energy efficient,” she said.
“We toured Perfect Potions, which manufactures organic shampoos and lotions, and learned about their commitment not only to their environment in Australia but to the countries where they obtain their supplies.”
Back at UConn, Pancak’s Sustainable Real Estate course taught students the techniques, approaches, materials and technologies used in the internationally recognized Leadership for Energy and Environmental Design (LEED) green-building rating systems. Students also learned how buildings can be designed to improve sustainability, promote water and energy efficiency, and minimize environmental impacts. After completing the course, students are eligible to take the U.S. Green Building Council LEED Green Associate exam.
The course is already paying dividends for UConn junior Austin Smyth, of Guilford, who is planning a career in commercial real estate. When interviewing for a coveted summer internship in New York City, he told his interviewers about his plans to take the Sustainable Real Estate course and he ultimately got the offer.
“Sustainability is a really big deal with all the companies I was applying to,” Smyth said. “They are all trying to get buildings LEED certified, so it was certainly a good talking point.”
“I think it is something extra that UConn offers that other universities don’t,” he said. Based on what he learned in the course, he is planning to take an exam to become LEED certified.
“These exams are normally taken by real estate professionals. To be able to take it as students, definitely puts us at an advantage,” he said. “It is one of the best opportunities I’ve had.”