I AM HONORED to report that in January, University of Chicago
president Hugo F. Sonnenschein and the GSB dean search committee
asked me to accept another term as dean of the Graduate School
of Business. I accepted with enthusiasm.
Why am I enthusiastic about the next five years? There are a number
of reasons, but four stand out. First, I look forward to extending
our global presence with a degree program in Asia.
As most of you know, in my first term building lifetime partnerships
with alumni and globalizing the GSB were my high priorities. The
centerpiece of our efforts thus far is the International Executive
M.B.A. Program, now firmly established in Barcelona with participants
from 25 countries and waiting lists for the 80 slots in each class.
What really makes the Barcelona and North American programs work
is the transcontinental networking that occurs when the programs
merge for joint sessions. Now, in my second term, I would like
to move on to establishing the natural next step–an Asian component
to the IXP program . I envision a three-way networking exchange
when we add Asia as the third leg of our program.
In spite of the currency crisis at the moment, we all know that
in the long run, business prospects in Asia are enormous. The
region offers tremendous opportunities for business leaders–not
to mention business scholars. That is why for the last six to
eight months, we have been investigating sites for a program in
Asia. We have been talking with various financial partners about
ways in which our small but very visible program could be financially
successful. Alumni have been very helpful in the exploratory process,
and I feel confident that within five years the third leg of our
program will be in place.
My second cause for enthusiasm is the opportunity literally to
build the school’s future. We face a clear need for a campus student
building. Just about all of our competitor schools have recently
built or are building new facilities, and we are as overcrowded
as any of them. Consider just for a moment the challenges of teaching
almost 1,200 student in only six major classrooms.
We are discussing plans for a structure of 120,000 square feet
with state-of-the-art classrooms, computer access, a lounge and
lunch area, and space for all student services and organizations.
Conceptualizing and designing this new building will be a terrific
vehicle for ensuring that we will be equipped to train leaders
for the high-tech information age.
The question on everyone’s mind is Where will that building be?
The answer will evolve out of a university-wide process to create
a master plan for campus growth and development. Deputy Dean Robin
Hogarth is working with the master plan committee to make sure
our needs and wishes are heard and incorporated. Meanwhile, we’re
doing some significant planning on our own to make sure that as
soon as we have a site, we can move forward with design.
Third, we have begun to conduct market research on launching a
capital campaign. If the research tells us that we can go forward,
financing the student building will be a centerpiece of the campaign.
In addition, we must build up our endowment. In one recent survey,
the GSB ranked 12th among 13 peer schools in size of endowments.
Additional endowment funds will be used to support more professorships
and scholarships as well as centers to study entrepreneurship,
marketing, international business, and other key business issues.
Finally, I want to spend my next term making sure the GSB will
be a major player in business education in its second century.
We are on the cusp of a technological revolution that changes
the traditional flow of information and knowledge a bit every
day. Clearly, this revolution will change how education is delivered
as well.We don’t yet know what modes of delivery will work best–in
person, over distance, via technology–or who the key players will
be. I do know that I would like the GSB to be involved at the
center of the revolution of business education.
Each of these four prioirties are substantial issues that I will
no doubt elaborate upon in the future. Of course, I’ll also continue
to develop initiatives started in my first term, such as the marketing
program under Tessa Burton’s leadership, revamping LEAD, and more.
I am eager to take all this on because I want to leave the school
in the strongest possible position for the next century.
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