The Dean’s Corner

A recent Wall Street Journal article by Diana Middleton states that "a small but growing" number of companies are choosing University Executive Programs over consulting firms for "timely real-life solutions to their problems."  

For those of us in academia, this is a very encouraging trend.  In the past there was a tendency to place a somewhat lower value on the consulting outcomes produced by universities compared to those from expensive consulting firms.  In other words, the value was linked to the price, with a large price difference (of at least one order of magnitude) between consultants and executive programs.  

However, in these challenging economic times, companies must deal with a number of problems, some related to increasing efficiency and others to increasing revenue. Companies can no longer afford to spend hundreds of thousands of dollars to formulate creative and effective solutions and are now looking to the value-proposition offered by university executive and consulting programs.  

I believe that the key to university consulting success is summarized by the University of Chicago's Booth School of Business.  That is, "the school takes on clients only if the faculty members are interested in the project, or if it is relevant to their research, and if they are willing to work with the company on a follow-up.  Simple training programs are rejected in favor of programs that faculty members co-create with the client's senior executives."  Schools must recognize, just as Chicago has, the big difference between "simple training" and consulting.  Faculty members must find the projects intellectually stimulating and be interested not only in publishing results but also in a successful implementation.

At the Leeds School, consulting involves faculty, students and staff and is executed through our Business Research Division (BRD).  Currently, for instance, the BRD is engaged in an economic impact study for the possible relocation of the National Western Stock Show.  We also coordinate student projects with local companies such as Vail Resorts, Crocs and Coors, to name a few, through our Center for Business Integration.  And, we offer executive training through our Executive Education Program.

We know through successful projects and testimonials that we provided tremendous value to the companies that have engaged in projects with us.  I hope that the trend mentioned in the Wall Street Journal article continues and our consulting activity grows for the benefit of both our corporate partners and the Leeds School.

Sports-related business is an ever growing source of employment and new-venture opportunities for university graduates.  Here in our backyard, Denver is the home to five major sports teams: Broncos football, Rockies baseball, Avalanche hockey, Nuggets basketball and Rapids soccer. Jobs in the sports industry range from those within a professional sports team to sports facilities, apparel, management, marketing, media and broadcasting. Preparing students for jobs and opportunities in the sports and recreation industry is a natural fit for a specialized program within a business school.  

To that end, we are in the final stages of the approval process to offer a two-month intensive Business of Sports Certificate.  The program is a "business boot camp" for students interested in pursuing careers in the sports and recreation industry. It would combine core business training in management, marketing, finance, operations and accounting with specific topics that relate to the sports industry, such as union negotiations, venue utilization, revenue management and attendance, promotions and licensing, and information technology and ticketing.  

Classes are structured so in the morning, students will learn basic business concepts which will be integrated with industry specific sports' topics: the Economics of Sports, Sports Marketing, Sports Management and Leadership.  In the afternoon, students will be working in groups on experiential, researched-based projects. Each group will be assigned a specific project designed by one of our contributing partners: Alem Inter-national Management, CU Athletics, Denver Broncos, Kroenke Sports Enterprises (Colorado Avalanche, Colorado Rapids & Denver Nuggets), Metro Denver Sports Commission, Phoenix Mercury, USA Rugby and Vail Resorts Management. Throughout the two months, students will have opportunities to work with industry experts in these professional companies and organizations.

There are great examples of successful programs in sports management, such as those offered by NYU's Master's of Science in Sports Business, a Graduate Certificate in Sports Business, and a Bachelors of Science in Sports Management. Our program is intensive and is offered to both business and non-business undergraduate students, distinguishing it from the NYU programs, and offering us a diverse pool of students.
 
The certificate curriculum is the culmination of more than two years of planning that involved Leeds faculty, University of Colorado Athletics and partners from the sports industry.  We are very excited about the opportunity to offer this new program and believe that will be of great benefit to those who choose to enroll.
 
For more information, please contact our Interim Director of Executive Education Robin.Miglarese@Colorado.edu.

My Development colleagues and I had a busy and productive trip to New York City this past December. We met with alumni and donors, and our message resonated strongly with everyone.

Our message was twofold: 1) we must keep moving forward and can't afford to wait for the appointment of a permanent dean and 2) our fund-raising efforts in the near future will focus on faculty support (for chair positions, professorships and faculty development), and student support (for programs, services and scholarships). I have already outlined the need for scholarship support in my previous blog post, but now I want to underline and explain the value of growing our faculty support.
 
The reputation of an academic unit is due to its faculty and the success of its alumni.  Recruiting and retaining talent is difficult in professional schools (such as business) because, in addition to the competition within academic circles, faculty have attractive employment opportunities outside academia.  The endowment of chairs and professorships is the most effective mechanism by which business schools have been able to attract and retain outstanding faculty. Accomplished full professors (i.e., faculty members with the highest academic rank) are attracted to academic positions that include endowed chairs or professorships that recognize their scholarship and that provide the financial resources to pursue ambitious research and teaching agendas. Also, the availability of endowed chairs and professorships gives large incentives for junior faculty to commit to a long term academic career within the same school. Finally, endowed chairs and professors are more likely to attract additional external resources from industry and government agencies.

While schools comparable to Leeds often have 20 endowed chairs or professorships, we unfortunately have only 6 named professorships. This low number compared to the great opportunities that come from additional endowed chairs and professorships is why we are devoting significant effort to securing additional funds for faculty support.

In a difficult economic climate, the importance of a strong scholarship program in an institution of higher education is extremely important.  With declining financial support from the state,  Universities are forced to rely more and more on tuition for operational expenses.  Tuition increases are then necessary to keep up with the rising cost of delivering high-quality programs.
 
A case in point is an announcement of the California Board of Regents approving a 32% undergraduate tuition increase over the next two years.  In some states, in-state tuition is still within reach for a significant sector of the population but out-of-state tuition has become a luxury item in most cases.  At the same time, public institutions have a societal obligation to provide access to higher education to motivated students whose situation does not allow them to afford four years of tuition and fees.  As a scholarship student in my native Mexico, I had the opportunity to attend the prestigious Monterrey Institute of Technology.  Because of the partial scholarship that I received, I accelerated my degree and finished in 3.5 years in order to contribute of my family finances instead of draining them.

In a recent issue of Newsweek, former US Education Secretary Lamar Alexander made the case for a "three-year solution" to bachelor degrees on the basis of cost-efficiency and the competitive advantage of attracting bright, motivated students.  Alexander argues that "the three-year degree could become the higher-education equivalent of the fuel-efficient car."  The counter argument is that there are benefits to the full four-year college experience.  Looking back, I would have liked to have the flexibility of attending an extra semester to take additional courses, participate in university events and interact with professors and my fellow students.
 
This is why at the Leeds School one of our primary fundraising activities is to increase our scholarship funds.  While I believe that the three-year plan has merits, the savings might not be enough to allow many students with excellent qualifications and attributes the access they deserve to higher education. We believe there is a critical need for a focused effort to secure sufficient resources to provide scholarships.

Please click here to learn more about giving to our scholarship programs.
 

Yesterday was my first day in my new role as Interim Dean of the Leeds School of Business.  I am honored to be entrusted with this position and I am planning to work very hard to meet (or hopefully exceed) the expectations of all constituents.  In the last two weeks, I have been asked a number of questions about this transition period.  Let me share information on some of the most common issues in the minds of those to whom I have spoken. 

Regarding the search for a permanent dean, Provost Sture has appointed Bill Kaempfer, Vice Provost and AVC for Budget & Planning, as chair of the dean's search committee.  The search will start this year and continue during the next academic year if needed.  Organizationally, I am planning to stay with a team of two associate deans Cal Duncan and Rich Wobbekind until the end of this academic year.  I will revisit this decision in the summer of 2010. 

I am committed to be part of key external activities to keep donors, alumni and corporations engaged.  Therefore, about 50 percent of my time will be devoted to external work.  I am planning to hold two meetings (one with the faculty and one with the staff) in the next couple of weeks to discuss short term challenges and initiatives that I believe are of interest to all of us.  I am grateful for the support that I have received from many faculty and staff, which played a crucial role in my decision to accept this great responsibility.