On November 8-9, 2012, the University of Connecticut School of Business Ph.D. Program celebrated its 25th Anniversary. Since the beginning of the Ph.D. Program there have been 164 graduates including; 35 in Accounting, 48 in Finance, 31 in Management, 26 in Marketing, and 24 in Operations and Information Management (OPIM). Continue Reading
Storrs
Teaching. Research. Outreach.
This article first appeared in the UConn Business magazine, Volume 3, Issue 1 (Fall 2012)
Dr. Karla H. Fox Reflects on Past Success, Contributions, and Continued Service
A distinguished educator and administrator at the University of Connecticut since 1976, Dr. Karla H. Fox retired from her faculty position as of August 1. Here, she reflects on her time serving the University and the School of Business, sharing some of her continuing projects and activities in her new position as Special Assistant to the Provost.
Teaching and Research
Reflecting on the past three decades, Dr. Fox proclaims, “[the University of Connecticut] is a dramatically different school than when I started [working here]. UConn has transformed into a truly research-focused institution. We’ve reversed the “brain drain” of 30 years ago, and now we’re a top school of choice for many students.”
In the 1990s, the School of Business made a strategic decision to become a technology leader among business schools nationwide. “It shows,” says Dr. Fox. “We’ve become much more professional in the way we present teaching and instruction, partly because we have access to the latest technologies.” During her time as Interim Dean, Dr. Fox contributed to this availability by implementing the latest in conference technology, enabling meetings or classes to run across campuses and to better link the undergraduate and MBA programs in Storrs, Hartford, Stamford, and Waterbury.
“Building upon the School’s history of excellent academics, we now have an expanded emphasis focused more on research and outreach,” Dr. Fox notes. Securing the approval of then Provost Peter Nicholls, Interim Dean Dr. Fox led the School in hiring 24 new faculty and staff members last year. “Hiring was critical; it enabled us to bring up new programs and strengthen others, such as the Master of Science in Financial Risk Management (MSFRM) program [in Stamford], which we were able to expand to Hartford,” she notes.
Outreach and service have entered the forefront in the last five years, according to Dr. Fox, who plans to continue efforts in this area.
Outreach: Stamford Initiatives
Dr. Fox’s involvement with the Stamford campus has come full-circle. She was one of the main individuals responsible for developing the new Stamford Downtown Campus in the mid-1990s. “That was really exciting!” she exclaims. “I can’t help but reflect on this—fast forward 25 years later, and here I am, working on the expansion of programs offered on that very campus.”
During the transitional period while she was Interim Dean, one of the initiatives Dr. Fox engaged in was the renewed emphasis of activities on the Stamford campus, including the establishment of the Stamford Learning Accelerator, new academic programs, economic development initiatives, and relationships with Fairfield County leaders. She has also dedicated time to the Digital Media Program both in Storrs and Stamford, putting the program on secure footing to facilitate approval from the Board of Trustees in 2011. Dr. Fox will continue to foster and develop these initiatives in her ongoing role.
“We minimized the vacancy of the former UConn/GE edgelab space in Stamford to just 4 months. The repurposed facility is now vibrant and thriving as the Stamford Learning Accelerator (SLA),” says Dr. Fox. “Although the funding to build out edgelab came from GE, it was originally conceptualized to be what the SLA now is—a learning accelerator where the triumvirate of students, faculty, and businesses work together on real-life projects.” She adds, “We’re now able to work on several projects for leading corporations and potential entrepreneurial ventures.”
Dr. Fox will help to implement an expansion plan at the Stamford regional campus in the areas of business and digital media. A new major in Financial Management, to begin the fall of 2013, will be considered by the UConn Board of Trustees at its November meeting. Future projects under discussion include offering undergraduate business programs in the areas of risk management and global business; increasing the academic presence of digital media; and expanding certificate programs in business and digital media.
In addition, Dr. Fox will continue to serve as Interim Director of the Connecticut Information Technology Institute (CITI) program in Stamford, which offers certification or education for both businesses and individuals in business-related technologies or specialties such as project management.
Dr. Fox will work to support academic initiatives in the University’s emerging plan for economic development with Mary Holz-Clause, UConn’s Vice President for Economic Development. She is also working very closely with The Business Council of Fairfield County and the Stamford business community. Dr. Fox concludes that “the issue now is economic development, providing good jobs for everyone in Connecticut so we can get our educated graduates to stay in the state.”
Karla H. Fox
Among her many involvements at the University of Connecticut School of Business, Dr. Karla H. Fox—professor of Business Law with specializations in the Uniform Commercial Code, employment law, and business ethics—has served as Executive Director of the Full-time MBA Program, Associate Dean, and Head of the Business Law program. Dr. Fox most recently led the School of Business through an exciting year of growth as Interim Dean.
Dr. Fox has also served as head of the Music Department in the School of Fine Arts from 2008-2010, Associate Vice President for University Affairs from 1999-2004, and Executive Director of the Office of Institutional Effectiveness. A recipient of the 2010 American Association of University Professors (AAUP) Service Excellence Award, she is also a member of the Connecticut and North Carolina Bar Associations, and is a past president of the University of Connecticut chapter of the American Association of University Professors, as well as a former member of the University Senate and Senate Executive Committee.
CCEI Holds Annual University-Wide Business Plan Competition
For the third year in a row, the Connecticut Center for Entrepreneurship and Innovation (CCEI) at the University of Connecticut School of Business held its annual business plan competition. The CCEI, led by Executive Director Christopher Levesque ’87, is an academic center within the School of Business that aims to broaden the entrepreneurial opportunities both within UConn, and the greater Connecticut entrepreneurial community at large.
“Over the last couple of years, the CCEI Business Plan Competition has blossomed into a wonderful program on many levels. Beyond the prize money — which is substantial — it is energizing hundreds of UConn student entrepreneurs to invent and create new products and services. The program gives students a platform to launch substantial businesses, creating career paths for themselves and jobs for the State of Connecticut,” notes Eric Knight ’82, President of Remarkable Technologies and Manager of the UConn Springboard program, who served as a competition judge.
The competition is university-wide – open to students of all levels, majors, and campuses, and there are no restrictions when it comes to the subject of the plan idea – any and all unique business ideas or innovations were considered. This competition is part of a broader effort by the University to grow the entrepreneurial community and spirit, and this competition attracted talented student teams from diverse backgrounds and experience, but all with a common motivation and drive.
Many of the teams were comprised of interdisciplinary students, which helps to bring a wide array of perspectives and ideas to any project. Part of the promise of this competition was that all submitted plans would be reviewed by experienced entrepreneurs, investors and UConn faculty. Additionally, the CCEI hosted multiple workshops dedicated to helping teams improve and polish their plans to help maximize their prospects for success. At the workshops, the competitor teams were given general guidance on what makes a successful business plan and were then given one-on-one time to work with experienced professional mentors.
Over 130 teams submitted their intent-to-compete, 49 teams submitted official competition entries, and 13 finalists presented their plans to a panel of judges. The finalist presentations were held April 25th, 2012 at the School of Business. The judges for this competition were: Christopher Levesque ’87, Director of CCEI; Eric Knight ‘82, President of Remarkable Technologies and Manager of the UConn Springboard program; Bruce Carlson, President of the IP Factory; Danny Briere, CEO of TeleChoice; Mary Anne Rooke, President of the Angel Investor Forum; Joe Wehr, President of DBMI; and Nat Brinn, Principal at Vital Financial, LLC.
Among the finalists, PartsTech, a team comprised JD/MBA student Gregory Kirber ’13 and MBA student Alexander VanderEls ’12, presented the most well-developed business plan, receiving the competition grand prize of $25,000. Second prize of $15,000 went to Buses2 (team members Adam Boyajian ’12 and Michael Parelli ‘12), and the third place prize of $10,000 went to Sharelogical (Max Lekhtman ‘11 , Daniel Hanley ‘12, Jay Bahgat ‘14 and Mike Lovino ‘12).
Competition plan winner Greg Kirber noted how the resources surrounding this competition contributed to his team’s success: “The development processes and mentor advising helped strengthen our plan and provided new avenues for exploration.” He also commented on the sense of fellowship between competition participants, “While a competition by nature, this event has certainly led to lasting collaboration between teams as well as with mentors.”
“The popularity of this year’s competition is a perfect representation of the energy up in Storrs. There’s an incredible amount of students starting businesses and chasing their dreams, and now there are resources like the CCEI competition so students have a channel through which they can pursue their opportunities,” notes Adam Boyajian. “We just graduated, and we can look back to four years ago when there was no place for kids like us to go with ideas, and certainly no mentors or money to help us make it happen. The pace at which things are happening is incredible, and there is without a doubt some big things coming out of UConn around the corner.”
Chris Levesque is thrilled with the rapidly expanding level of entrepreneurial energy by the students at UConn. “The creativity, novelty and sophistication of the ideas presented has increased each year and the CCEI Business Plan Competition, taken in conjunction with entrepreneurship courses, Startup Weekend Storrs, Innovation Quest, and other programs is helping to put UConn squarely on the map in terms of student entrepreneurship.”
This competition was an extremely effective and successful way to tap into the burgeoning entrepreneurial spirit here at the University and throughout the State. With the success of the 2012 CCEI Business Plan Competition, the organizers are brainstorming ways to grow the competition even larger next year, perhaps adding a competition track for faculty/staff. In the meantime, the CCEI is extending an invitation to all teams who submitted a letter of intent to compete in the competition to continue discussions and guide them to take advantage of resources The CCEI can bring to bear.
“Our ultimate intent at the Center for Entrepreneurship and Innovation is to identify, mentor and help develop new businesses here in Connecticut; PartsTech, along with Buses2, Sharelogical and the other finalists, represent terrific examples of such promising firms,” stated Christopher Levesque.
“The consistent and sheer volume of ideas that emanate from the student population year over year at UConn is amazing and inspiring,” says Danny Briere. “This is exactly the type of innovation that’s necessary to power our way towards more jobs and companies in the state.”
For more information about CCEI, please visit http://ccei.business.uconn.edu.
CONTACT
Christopher Levesque, Executive Director, Connecticut Center for Entrepreneurship & Innovation (CCEI)
clevesque@business.uconn.edu, 860-486-4594
Marie LeBlanc, Manager of Marketing and Publicity, UConn School of Business
mleblanc@business.uconn.edu, 860-486-6182
WGC Names the School of Business 2012 Educational Institution of the Year
The National Black MBA Association Westchester/Greater Connecticut Chapter (WGC) named the University of Connecticut School of Business the 2012 Educational Institution of the Year. This award recognizes different organizations and businesses for their successful efforts in encouraging the development of African American students. UConn has provided commitment and resources towards both the programming and membership initiatives in relation to the WGC’s outreach to the high school, undergraduate, and graduate community in Westchester County and Greater Connecticut.
Last summer the Office of Diversity Initiatives (ODI) at the UConn School of Business hosted the National Black MBA Association’s Leaders of Tomorrow (LOT) 10th Annual National Business Case Competition. The case competition, held on the Storrs campus, challenged high school students all across the country to excel at the highest levels of analysis, public speaking, strategic planning financial analysis, marketing, and management. After being trained by members of the National Black MBA Association, Inc., the teams analyzed a graduate school Harvard-style business case. They then presented recommendations, forecasts, and implications before judges from the highest levels of business and academia. The winning teams received thousands of dollars in scholarship prizes.
The University of Connecticut continues to show its support of the WGC and its dedication to helping encourage higher education in the youth of our community. The Office of Diversity Initiatives enhances the School of Business’ outreach to high-quality student applicants and prospective faculty through its initiatives with high schools, colleges, universities, and minority business/professional organizations. ODI’s goals include outreach and service excellence. This is accomplished by increasing the admissions of high-quality minority students at the undergraduate and graduate levels in the School of Business, and by providing scholarships, fellowships, mentors and role models to help foster high retention rates and success within the University of Connecticut and the School of Business.
Future Potential in IT Careers
Sponsored by: Department of Operations and Information Management, and Central CT Chapter of the Society of Information Management
University of Connecticut students were given the opportunity to ask career questions and prod the minds of senior IT leaders at a special presentation in the Rome Commons Ballroom at South Campus on Thursday, October 20th, 2011. This presentation, titled, “Future Potential in IT” was sponsored by the Department of Operations and Information Management (OPIM) and the Central CT Chapter of the Society for Information Management (SIM). It was a unique occasion for students to talk to senior IT leaders and recent graduates in the field. Continue Reading
Leaders of Tomorrow (LOT) National Business Case Competition to be held at UConn
The University of Connecticut, School of Business, Office of Diversity Initiatives is hosting the National Black MBA Association’s Leaders of Tomorrow (LOT) 10th Annual National Business Case Competition at the Storrs campus on June 24-26, 2011. Continue Reading
The MS in Accounting Kicks Off Another Banner Year
The MS in Accounting Program at the University of Connecticut School of Business welcomed over a hundred new students last week. This new class converged on Storrs for the week- in-residence class, “Understanding the Responsibilities of an Accounting Professional,” and infused the campus with their enthusiasm and learning. The students left excited about starting summer classes next week.
The popularity of this program reflects the growing reputation and demand for this acclaimed online program. Out of 133 admitted for the current semester, 123 accepted the admission offers with four deferring until next year. The incoming class represents 44 different undergraduate universities from 17 states and the country of Lebanon. 54% of the students come from undergraduate programs other than UConn.
The School of Business would like to extend congratulations to the Accounting Department, especially Andy Rosman, Marg Sweeney and Linda Petrofsky, for recruiting another outstanding MS in Accounting Program class.
Undergraduate Commencement Keynote 2011
It has been almost twenty years since I last sat in this auditorium and listened to a speaker telling us not to do anything stupid. But most of us, including myself, ignored the advice. This time around, the roles have been reversed. I am now the one standing here with the task of giving out words of wisdom. I am honored to be here today.
This invitation gave me a moment to reflect upon how UConn has influenced my career since the very first day I stepped foot on this campus. The professors who taught and advised me along with the many great individuals I have encountered here at UConn have helped me to become who I am today.
Over the next couple of minutes, I would like to share with you my experiences as an academic turned chief executive, and offer my opinion on the characteristics necessary to succeed in any of the fields you may find yourself in.
The first piece of advice I would like to offer you is that life is unpredictable.
My decision to attend UConn was out of sheer coincidence. I used to work in the semiconductor industry in Taiwan, but my wife wanted to pursue her academic career, so we found our way to Storrs.
Initially, my family and I had a difficult time adjusting to the sudden change in scenery. Before we came to Storrs we lived in Taipei, a bustling metropolitan city. The plain but friendly New England country side was unlike anything we had ever encountered. But after six years, with the help of numerous great Professors and friends, I successfully completed my Ph.D.
Upon graduation, I returned to Taiwan and my career quickly flourished. I spent many years as a Professor but eventually left to pursue a career in the financial world.
I am deeply connected to UConn and view it as my second home, a place where many extraordinary things happened for me. With that being said, four years ago, I asked my son to enroll in UConn for his bachelor’s degree. Although he was at first reluctant and shocked by all the cows, trees, and more cows here in Storrs – like his father, he quickly embraced the new environment.
I believe God led me to Storrs for a reason. I am grateful for everything that has happened to me and my family during my time in Storrs. This is proof that sometimes life is unpredictable—and if you are willing to embrace your new environment and the challenges that it brings—then fantastic things will happen.
In your life, you will always have the opportunity to make your own decisions. I offer my life experience as proof. I started my academic research in Mathematics at UConn, but ended up graduating from the Business School with a doctorate in Finance. I joined academia after graduation, but am now a successful executive. Life is not a race, but a journey to be chosen and savored each step of the way.
The second piece of advice I would like to offer you deals with the characteristics you should possess upon entering the business world.
Traditionally, MBA programs have taught students that the core principal of business is to maximize corporate value for shareholders.
However, in the real world, this dogma has been corrupted into maximizing stock prices for corporate managers, instead of maximizing corporate value for shareholders. This distortion of values is especially evident in the financial industry. Having witnessed three major financial crises in my lifetime, I am convinced that the unethical measures taken by top executives to pursue their personal wealth were contributing factors to the crises. Therefore, I strongly believe in taking ethical actions to maximize firm value.
What other lessons can we learn from these crises? I believe most of you are still dreaming of joining big name firms on Wall Street in hopes of a life filled with riches. But sometimes we are blinded by these dreams and do not take time out of our lives for self-reflection.
After we succeed, we easily become arrogant and fail to appreciate the efforts of our team members. Do not be conceited, but be self-confident and humble. Humility is the one and only trait that all great leaders have. Pursue your goals with this in mind.
Lastly, but most importantly, do not set your goals based on what others deem important, but set them based on what you, as an individual, believe to be important. Instead of concerning yourself with the compensation offered by companies or stocks, you should focus on creating your exclusive value by tackling every obstacle that you may encounter in your career.
Lastly, I would like to convey my sincere gratitude to a person who has made a profound influence both on my academic life and my business career.
Gene Sellers, my mentor and teacher when I was at student at UConn, is the man I am deeply indebted to and will always remember with fondness. He provides students not only with academic knowledge, but with ethical knowledge as well. He is a great man who is always generous and amiable to students, but treats himself with stern discipline.
Being a doctoral candidate, I spent much of time conversing with him during my studies. One day, I think it was the summer of 1989, he and I walked through campus discussing my future.
He asked me what I would like to do if I became successful after leaving school. I told him I would like to do many things. But most importantly, I would give back financially to the school to fund future talents. As such, by taking this great moment and regarding UConn as not only my alma mater, but as my second hometown, I would like to make my regular donation to my beloved school. Hopefully, it will allow talented individuals to discover their own true value and change the world.
Finally, as a parent attending my son’s commencement ceremony later this evening, I am deeply touched and extremely grateful for all that this institution has done for my family. As a father, I am very proud of him and would like to thank UConn for its part in making my son who he is today.
One day, when I have a grandson or granddaughter, I would hope that he or she might one day step foot on this campus as a student.
Best of luck, every one of you, and congratulations my fellow UConn graduates!
University of Connecticut
Storrs, CT
April 28, 2011
About the Speaker
Gwo-Duan “David” Jou ’89, ’92 Ph.D.
Founder and Chairman, Bigrock Asset Management Company
Dr. Gwo-Duan “David” Jou is the Founder and Chairman of Bigrock Asset Management Company. The company focuses on direct investments, providing consulting services to major life insurers in Taiwan and property development. Prior to Bigrock, Dr. Jou served as Chairman and Chief Executive Officer of Hontai Life Insurance Company, Ltd. in Taipei, Taiwan from 2005 to 2010 where he successfully turned the company around during his first year of service. Under his leadership, Hontai Life enjoyed a buoyant asset growth with CAGR over 20% and a decline in funding costs from 5.1% to 3.9%. Dr. Jou has over 20 years of experience in the Taiwan life insurance industry and plays active roles in regulatory entities, including Chairman of the Taiwan Insurance Institute, Commissioner of the National Pension Fund and Commissioner of the Financial Institution Reform at the Republic of China. He is also on the boards of TaiKang Life China, Taiwan Life Insurance Company, and is Chief Advisor in the Greater China Market for the Zurich Financial Group as well as the Chief Advisor for the Taiwan Insurance Market at Credit Suisse. In 2004, he served as Chairman of the Insurance Anti-Fraud Institute and as Director of Taiwan Life Insurance Company and the Bank of Overseas Chinese. During Dr. Jou’s term as Chairman of the Taiwan Insurance Institute, he successfully conducted the first ever case of liquidating a local insurance company: Kuo Hua Property and Casualty Insurance Company. Dr. Jou earned a Master of Science in Mathematics from the University of Connecticut College of Liberal Arts and Sciences in 1989 and a Ph.D. in Business Administration from the University of Connecticut School of Business in 1992. Dr. Jou and his wife, Frances ’90 MS, are International Alumni Ambassadors for the UConn Alumni Association and live in Taipei, Taiwan. Their son, Geoffrey, is graduating at this year’s Commencement from the University of Connecticut School of Business with a degree in Finance.
UConn Team Places Second in 2010 Travelers IT Case Competition
A team of four undergraduate students participated in the 2010 Travelers IT case competition. This year’s team consisted of four exceptional students:
Jose Cabanero (Finance, senior, Storrs)
David Pyne (MIS, senior, Storrs)
Silvana Sina (MIS, juinor, Storrs)
Joseph Thibeault (CS, junior, Storrs)
The team has put forward tremendous amounts of effort and time for the project. Over 40 hours were devoted to research, meetings, and presentation rehearsals.
On Friday, November 19, the team presented its final work in front of a panel of 8 judges. This team stood out at the presentation, impressed the jury and was awarded Second Prize. The participating schools for this year’s competition included UConn, WPI, University of Minnesota, Central Connecticut State University, and Quinnipiac.
Pictured: Prof. Wei-Kuang Huang with the Travelers IT case competition team.
A Letter from the EBV Coordinator
My dear friends,
Spring is upon us already in New England. The semester is rapidly winding to an end as we shake off the long winter, and of papers and presentations and final exams. This semester has seen a flurry of activity at the EBV program at UConn. The graduate assistants have been working to collect data and assist veterans start their ventures. Planning is already under way for next year’s program. We are working hard on expanding our public engagement and outreach to realize our vision of becoming the New England center for veteran business education and transition.
It’s amazing how far we’ve come since we began the online phase of the program in August. In just the 6 months since we parted company at the Storrs campus we’ve gone from exploring ideas and doing market research on a chosen industry, to acquiring and developing the skills necessary to start a business, to starting the business! Eight of you have started businesses, and one of you has enrolled in a full-time MBA program! It’s incredibly edifying for all of us to be part of the solution, helping veterans start businesses and forge a new identity as an “entrepreneur.”
As the seasons change, though, so we will see some personnel changes in 2011. First, Melissa Martin will be leaving us. She has landed a prestigious and high-profile internship with a well-known NY public relations firm. She did an amazing job for us as an administrative assistant and will be sorely missed. I know she will be phenomenally successful in her new endeavor.
Second, Kathy DeChant has announced she will be retiring in May. Kathy was the moving force that made the EBV happen. I owe her a debt of gratitude larger than I can articulate for offering me the chance to be part of the EBV. I wish her all the best and know she will always be a friend of the program.
Finally, Lane Barrow has agreed to join the EBV as the faculty advisor. All of you remember Lane’s incredible devotion and energy in helping us prepare for the final pitch competition. This is truly a labor of love for Lane, himself a veteran of the Viet Nam war, and we are very lucky to have him formally involved. I thank him for his service, and welcome him aboard.
To wrap up, let me congratulate all of you as you continue to meet the dual challenges of post-combat and post-military transition and of starting a new career and venture as an entrepreneur. I have gotten far more out of being a part of the program than I have put into it.
To our friends, supporters, graduate assistants, veterans, and the UConn community, I wish each of you and your families health and happiness and every success in 2011.
Semper fidelis
Mike Zacchea