2016

Stories related to "Alumni". http://www.chicagobooth.edu/magazine/fall-2016/rss

feature

Paper Work

It’s a humble brown and white pamphlet, no bigger than the size of a small notebook. Its pages are few, but its contents bear witness to a landmark in the history of business education: the world’s first executive MBA program. The pamphlet, labeled “Executive Program Directory,” was distributed to the students of this new, innovative curriculum when it debuted in 1943 at Chicago Booth, then known as the School of Business. A one-stop info shop, the book answers many questions a new student would have had: Where is my accounting professor’s office? When is the library open? And where is the designated smoking room? This special piece of Booth’s history had been stored with the rest of the XP program archives until recently, when Deb Fallahay, associate director of operations for the program, brought it to the attention of Russ Maki, ’95 (XP-64). This encounter gave the 73-year-old document a new lease on life. “This is incredible,” enthused Maki, as he showed off the pamphlet before its restoration, its pages stained and wrinkled with age. “I mean this is XP-1. This is the origin. This was the first executive program ever.”

conversations

Getting Personnel

The Challenge: How do you go about creating the first diversity and inclusion strategic plan for the Department of Homeland Security, the third-largest and newest US federal government department? With 240,000 employees, not only is the DHS large, it includes long-established agencies such as the Coast Guard and newer agencies such as the Transportation Security Administration, all with their own policies, priorities, and cultures. When Nimesh Patel joined the DHS in 2011 as executive director for diversity and inclusion, the department had no cohesive strategy or oversight of diversity and inclusion, which sometimes resulted in significant challenges for senior leaders when briefing members of Congress about diversity efforts. “We couldn’t even clearly identify our successes, challenges, or the strategies to address the challenges,” said Patel, who recently left DHS to lead diversity and inclusion at WilmerHale, a large international law firm. The Strategy: Patel relied on his experience consulting with Fortune 200 companies regarding their diversity and inclusion efforts, as well as his relationship building, consensus forming, and negotiating skills, to create the department’s strategic plan. He established a task force including representatives from all of the major agencies to create a collaborative process, enable different perspectives, and gain buy-in from all key stakeholders.

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How Can You Take a Smart Approach to Student Loan Debt?

My initial principal loan balance was about $28,000. I didn’t get any correspondence from my loan provider until I was a senior in college. When I got an email that said I had accrued $3,500 in interest, it felt huge to me. I definitely made more than that through on-campus jobs and paid internships during school, and I could have put that money toward my student loans. If the provider had been sending notices, maybe I would have been sending in money sooner. Many students don’t understand that interest is accruing on your loans from your first day of college. Once the grace period expires, that interest is added to your balance, so then you’re paying interest on the interest.<br/>

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Fund and Games

Manish Kothari, ’90, is general manager of institutions for Edmodo, a social learning platform, as well as a senior advisor in Cisco’s Entrepreneurs in Residence program. Thanks to a gift Kothari and his wife, Carmen Saura, made to the Polsky Center for Entrepreneurship and Innovation, the Kothari Saura Internship Fund provides participants in the Entrepreneurial Internship Program (EIP) with a living stipend, so they can focus on entrepreneurial endeavors. Andi Hadisutjipto—a Full-Time student and the founder and CEO of Chicago-based retail technology company Riviter—participated in the EIP in the summer of 2015 and benefited from the Kothari Saura fund. Bound together by their passion for the start-up scene, Kothari and Hadisutjipto joined a conversation with Chicago Booth Magazine to discuss diversity, funding, and the future of entrepreneurship.

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The View from London

It’s a natural fit—graduates of a business school renowned as a finance powerhouse thrive along the banks of the Thames, making their mark in the world’s preeminent financial and banking hub. More than 800 Chicago Booth alumni live and work in the United Kingdom, home to one of the school’s overseas campuses at Woolgate Exchange, in the heart of London’s financial district. It serves as the headquarters of the Executive MBA Program Europe, anchoring the Booth community as a gathering place for students, faculty, and graduates alike.<br/>

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A Head Start

No matter how successful they have been in their paths to Booth, incoming Executive MBA students enter the program with questions, uncertainties, and often even anxiety over the vaunted rigors of the curriculum, the uniform brilliance of their new classmates, and the imposing intellect of the faculty. As a part of the student’s LEAD experience, the Leadership Development team partnered with about 55 distinguished Booth alumni for the inaugural Executive MBA 20/20, where roughly 250 students in these new cohorts listened as the alumni panelists addressed queries, allayed fears, empathized with doubts, and offered guidance on getting the most out of Booth.

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New Life for Normandy Orders

“It was a sight that is hard to describe,” Stanhope Mason recalled. “As far as I could see, both to the east and to the west there were ships.” Years later, as the retired major general looked back on one of the most crucial turning points of World War II, he confessed, “I had expected not to live through the day.” Then the chief of staff for the US Army First Infantry Division, Mason was among the Allied troops who stormed Omaha Beach on D-Day, June 6, 1944. The sheer scale of the operation required advance planning down to the most minute of details—and Mason had a 140-page set of field orders to do just that.<br/>

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Who Was XP-1?

CBM takes a closer look at the very first Executive MBA cohort. Follow along as pamphlet distributed to these students in 1943 is restored in this issue’s feature “Paper Work.” Whether or not they knew it, the 52 students who made up XP-1 blazed a new trail in business education. Their course of study, now known as Booth’s Executive MBA Program, was the first of its kind anywhere in the world. The program’s creation in 1943 dovetailed with the wartime demand for skilled administrators, according to Taking Stock: A Century of Business Education at the University of Chicago, a 1998 chronicle of Booth’s history up to that point. <br/>

perspectives

The Book of Booth: David Booth, ’71

In recognition of the largest gift to any business school in the world, the GSB became Chicago Booth in 2008. David Booth, ’71, serves as a lifetime member of the school’s business advisory council and on the Board of Trustees of the University of Chicago. A true path breaker, Booth this year made Forbes’s list of the 40 “Money Masters: The Most Powerful People in the Financial World,” and Institutional Investor honored him with the Manager Lifetime Achievement Award. CBM sat down with Booth in Austin, Texas, at Dimensional’s home office, for his take on leadership, impact, and the value of an MBA. How did Eugene Fama, MBA ’63, PhD ’64, help shape your career? I went to the University of Chicago for the PhD program. I was going to be a professor. After taking Fama’s class and then working for him, I realized I probably didn’t have what it takes to be a leading academic. I decided that my strength was in applying the concepts rather than necessarily trying to think up the next great idea.<br/>

perspectives

This is Working for Me: Carla Dunham, AM ’98, MBA ’03

Carla Dunham first arrived in Hyde Park not to study business but with the intention to graduate from the University of Chicago art history department with a PhD and become a professor. After completing a master’s degree in art history, Dunham switched gears and applied to Booth. “I was intrigued by the opportunity to take my career out of the library and into the larger world,” recalled Dunham, vice president of global brand strategy at Kate Spade New York. After Booth, Dunham tackled successively bigger roles at Target, Henri Bendel, Saks Fifth Avenue, and Amazon before moving to Kate Spade New York. Based in Manhattan with her husband and son, Dunham leads the team responsible for driving brand awareness across all marketing channels globally.<br/>

perspectives

A Workday With Todd Connor, ’07

According to Todd Connor, ’07, about 25 percent of the 250,000 active duty service members who get out of the military each year want to start their own business. In March 2013, Connor cofounded Chicago-based Flank 5 Academy, a personal incubator aimed at helping people launch a new career or business. The following year, he founded Bunker Labs, a Chicago-based organization that helps military veterans start and grow businesses. Military veterans and entrepreneurs like Connor now helm the 12 active Bunker Labs chapters throughout the United States, focused on expanding an ecosystem to support military veteran entrepreneurship in their communities.

perspectives

Booth 101: An Introduction to Beer Pairing

In the back of an Illinois-based taproom, Jamie Hoban, ’02, stands next to a cluster of wooden pallets. Heavy-duty shrink-wrap envelops each of the pallets, which are stacked in rows as high as a basketball hoop in order to protect their fragile contents: thousands of empty beer bottles. These vessels won’t be empty for long. Hoban and his business partners, Brian Schafer and Andy Smith, will soon fill them with Angry Dragon Pale Ale, Pink Tie Saison, Milk & Cookies, and other wildly inventive (and wildly tasty) beers made by their growing business, Ten Ninety Brewing Company.

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The Courage of Conviction

There’s nobody who can’t be wrong, and I know that from what the University of Chicago taught me. As a student, I earned a sense of confidence that you could point out something you might disagree with. Attending my 50-year reunion reminded me of the life skills I learned while earning an MBA. In my second year of the program, I was taking a class from George Stigler, PhD ’38 (Economics), who would go on to win the Nobel Memorial Prize in Economic Sciences in 1982. I wrote a paper that was good but only five pages long. I couldn’t turn in such a short paper, so I added another 13 pages of whatever I could. He returned my paper and summarized my work in two sentences: he liked it, but the first 13 pages were worthless. He was recognizing the paper for what it was, and I liked him for that. <br/>

perspectives

Carving His Niche

There’s a crowd in the living room at the upstate New York farmhouse of artist John Cross, ’60. Next to an opera star, there’s a woman playing a viola. Nearby are two swimmers, one in a swan dive. Of course, these figures are all sculptures that Cross, a retired advertising executive, has carved from soft Sugar Pine wood. “They’re poised, getting ready to act,” Cross said of his creations. “I like that about carving, as opposed to trying to create a gesture of running or speed.” The passion that started with Cross’s childhood hobby of whittling has evolved into a successful art career. Having exhibited in numerous galleries in New York and beyond since the 1970s, Cross has a new show opening December 20, 2016, at the National Arts Club in Manhattan.<br/>