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1 weatherheadcollection Case Western Reserve University the Weatherhead School of Management semi-annual book two: bold


3 Collage A collage is a collection of different forms borrowed from disparate sources and reassembled to form a new whole. In a collage whether it be comprised of news clippings, ideas, photographs, or theories we are called to reexamine our own perspectives on individual elements as they relate to the position and character of all other elements. A collage can challenge the traditional, express the unorthodox, or inspire unique points of view. 3 Book Three We discover how the Weatherhead School of Management s faculty, students and friends are coming together from various backgrounds, experiences, and perspectives to research and pioneer practical applications of our School themes of Manage by Designing and Sustainable Enterprise. As in a collage, these themes, along with a composition of elements from varied disciplines, combine to uniquely inspire our students the leaders of tomorrow.

4 in this Feature Stories by Weatherhead Faculty The Nature and Experience of Entrepreneurial Passion...10 Helping Behaviors Can Hurt Career Advancement Let s Envision a Future; Let s Use Design to Help Us Get There Columns Introduction Weatherhead by the Numbers...07 Events & Happenings Weatherhead in the News...14 Weatherhead by Department...17 Faculty in the Field Seasoned Faculty Take the Lead...31 Donor Focus: William Conway Visiting Committee: Steering Weatherhead into the Future The Weatherhead Edge: Executive Coaching Sustainable Cleveland Student Perspective: Global Forum Inspires Local Change Alumni Advisory Council Alumni on the Move

5 Weatherhead by the Numbers Weatherhead represents the cutting-edge of modern business education, imbibing a foundation for sustainable development driven by thoughtful design. The School challenges everyone to open their minds, be a positive influence to those around us, and to leave a large legacy with a small footprint. As a career development professional, it is a privilege for me to be able to help our students maneuver an important curve through their lives. Weatherhead is about people, an amazing collection of bright minds and warm hearts. Weatherhead is about learning, for even those who have come to teach. Weatherhead is about thoughtful change. Weatherhead is about helping to build a better world and leads by example. Weatherhead is nice, a very nice place to be. Weatherhead is a vibrant community of an intellectually diverse faculty, staff, and student body who share common interests in learning. Its aim is the discovery and infusion of insights relevant to management concerns without compromise in analytical rigor. It is a school of management with a history of excellence and the promise and means for preserving it. It s simply a fun place to work with people who like to think. 7 Academic Departments 72 Full-Time Faculty 74 Full-Time Staff 1,413 Students 15,000+ Alumni 3 Undergraduate Degree Programs 6 Masters Degree Programs 4 Doctoral Degree Programs 16 Endowed Professorships 4 Editors of Academic Journals Top 30 Design Thinking in Management School (BusinessWeek, 2009 Global) #3 Organizational Behavior Department (Financial Times, 2008 Global) #10 Small Full-Time Enrollments (Beyond Grey Pinstripes, 2009 Global) #13 Undergraduate Microeconomics Program (BusinessWeek, 2009 U.S.) Meenakshi Sharma International Development Specialist, Career Development Center Betty L. Bowers Program Manager, Multidisciplinary Professional Studies Gary Hunter, PhD Assistant Professor, Marketing and Policy Studies #14 Part-Time MBA (BusinessWeek, 2009 U.S.) #21 EMBA (BusinessWeek, 2009 Global) #24 Undergraduate Accountancy Program (Public Accounting Rankings, 2009 U.S.) #30 Undergraduate Business Program (U.S. News & World Report, 2009 U.S.) #33 Full-Time MBA (Beyond Grey Pinstripes, 2009 Global) #39 Undergraduate Business Program (BusinessWeek, 2009 U.S.) #47 Full-Time MBA (The Economist, 2009 U.S.) #53 Full-Time MBA (Financial Times, 2009 U.S.) 07

6 weatherhead collection book three: collage fall 2009 The Weatherhead Collection is published by the External Relations Department for the alumni, students, friends, faculty, and staff of the Weatherhead School of Management, Case Western Reserve University. Case Western Reserve University Weatherhead School of Management Euclid Avenue Rebecca Murphy Editor Marla Zwinggi Assistant Editor Emily Drew Rita Kueber Contributing Writers Mohan Reddy Dean of the Weatherhead School of Management and Albert J. Weatherhead III Professor of Management Sonia Winner Associate Dean for External Relations peeps creative Design We welcome your comments at events& happenings To access the complete Weatherhead event calendar visit November 28 QS World MBA Tour in New Delhi Weatherhead s Student Services Department continues its tour of Asia to promote the unique aspects of our MBA including Manage by Designing and Sustainable Enterprise. 29 Master of Science in Positive Organization Development Study Tour Master of Science in Positive Organization Development (MPOD) students will embark on a ten-day exchange with Katholieke Universiteit Leuven, Belgium and Ashridge Business School in the United Kingdom to study multi-party collaboration in mixed-culture groups and complex responsive systems models of change. December 3 Weatherhead 100 Join us as we celebrate northeast Ohio s fastest growing companies. Weatherhead 100 is a testament to hard work, commitment, innovation, and the dream to succeed. 7-8 Executive Education: Cutting Costs through Process Improvement Learn evaluation techniques to reduce costs, increase value to the customer, and boost process efficiency by percent Foundations and Frontiers in Appreciative Inquiry This three and a half-day workshop, which commences in Longboat Key, Florida and then finishes in Cleveland, Ohio in February, gives participants an opportunity to discover how and why Appreciative Inquiry transforms organizations. 11 Thirty-Sixth Annual David A. Bowers Economic Forecast Luncheon Banking and Finance Senior Lecturer Sam Thomas, PhD, delivers his economic predictions for The event is sponsored by AT&F Co., Cliffs Natural Resources, Continental Magazine, Dealer Tire, LLC, Hartland & Co., Key Private Bank, and Winfield Associates. December (continued) 17 Executive Education: Leadership Deep Dive Emerge from this transformational experience with a new realization of the power of your leadership. Join the hundreds of executives who have benefitted from our proven approach to developing influential leaders. January 11 Back to school February Dean s Weekend Outstanding MBA candidates arrive on campus for a weekend preview of Weatherhead. 27 Casino Night Try your luck at our annual Casino Night sponsored by the Graduate Business Student Association. 28 Brazilian Business Education for a Sustainable Future Weatherhead s Fowler Center for Sustainable Value will partner with Sistema FIEP, the Federal University of Paraná in Curitiba, Brazil, and a select group of faculty from several Brazilian business schools to design a national curriculum based on Sustainable Enterprise and value creation. March 5 Executive Education: Communication Skills for the Health Care Team Learn practical tools and methods for exchanging information accurately and comprehensively in the health care sector. Through a combination of self-assessments, interactive exercises, and skill-building activities, participants will develop the necessary insight and ability to become more effective communicators. 24 Executive Education: Developing Your Management Skills For those new to a management role, making the shift from doing to managing requires a different set of skills. This intensive program is designed to teach new managers how to successfully navigate the transition. 09

7 the nature and experience of entrepreneurial passion Stories and studies of entrepreneurial passion tell of an intriguing inner motivating power that sometimes overpowers reason and logic. Michael Dell, founder and CEO of Dell Inc., speaks of passion as the fire that drives your life s work, and Anita Roddick, who pioneered ethical consumerism and founded the Body Shop, left a legacy to affirm her dictum that to succeed you have to believe in something with such a passion that it becomes a reality. Indeed, dating back to Schumpeter s early writings, the idea of entrepreneurial passion has been invoked to explain why entrepreneurs defy reason with such unconventional risk taking and an unwavering belief in a dream. For many, much entrepreneurial creativity would simply not exist if passion did not stir the hearts and minds of individuals. Yet, passion is not without its dark side. Tracing its roots to the Western philosophy of mind and body separation, many argue that passion limits information search, leads to rosy forecasts, impedes reason (actfirst, think-later), and emphasizes the superiority of reason-based decisions for exploiting opportunities. Cases abound of entrepreneurs who obsess about their ventures to the point that it curbs growth, while others persist with failing ventures long after they should have moved on. Undoubtedly, entrepreneurial passion is associated with response patterns that are obsessive, blind, or misdirected. In a recent study, my co-authors, Melissa S. Cardon from Pace University, Joakim Wincent from Luleå University of Technology, and Mateja Drnovsek from the University of Ljubljana, and I aimed to understand the intriguing power of entrepreneurial passion. Our initial review of the past research on entrepreneurial passion surprised us. Although much has been written and said about the nature and experience of entrepreneurial passion, there is little to show for conceptual development and theorizing of this intriguing phenomenon. Most studies neither adequately define entrepreneurial passion nor explain its role in the entrepreneurial process and its outcomes. Lack of systematic attention and fragmentation characterize current research. The idea of entrepreneurial passion remains shrouded in mystery. The Approach We triangulated and integrated three sources of information to develop a theory of entrepreneurial passion. Published scholarly and practitioner work was reviewed and summarized to extract the meaning of entrepreneurial passion in the life experiences of entrepreneurs. These meanings were uncovered with the philosophical and psychological literature on the epistemology and neurobiology of passion. Finally, we interviewed over thirty entrepreneurs and reviewed the biographies of many others to understand the nature of entrepreneurial passion and its evolution over the entrepreneur s lifespan. We were guided in these interviews by questions such as Why do some nascent entrepreneurs who evidence high passion for entrepreneuring lose the fire of passion as the venture grows, while others continue to experience the fire of passion throughout their entrepreneurial career?, Why are some entrepreneurs who had seemed passionate about their ideas willing to give them up for others to grow the venture and extract its market value?, and Why do some entrepreneurs continue to persist, despite considerable obstacles and impediments experienced during the process of entrepreneuring, while others do not? To peel this shroud, we sought to develop a theory of entrepreneurial passion that addresses three questions: 1. What is at the core of entrepreneurial passion? 2. What does the experience of passion entail? 3. What does passion do for entrepreneurs? By Jagdip Singh, PhD H. Clark Ford Professor Marketing and Policy Studies 11

8 FIGURE 1 The Theory The proposed theory of entrepreneurial passion conceptualizes what passion is, and proposes that it influences important entrepreneurial outcomes. These outcomes include opportunity recognition, venture creation, and venture growth. The mechanism by which entrepreneurial passion affects these outcomes is complex. Specifically, entrepreneurial passion activates goal cognitions which, in turn, motivate the entrepreneur toward creative problem-solving; persistence and absorption that together positively influence outcomes (see figure 1). Moreover, the theory posits that studies of entrepreneurial passion that ask what passion is must begin by addressing passion for what. At its core, entrepreneurial passion is for one or more meaningful roles that are salient to the self-identity of the entrepreneur. It involves intense positive feelings consciously experienced by engagement in entrepreneurial activities associated with the focal role(s). My co-authors and I specifically discuss three role identities: inventor, founder, and developer. An inventor identity is relevant where the entrepreneur s passion is for activities involved in identifying, inventing, and exploring new opportunities, while a founder identity indicates that the entrepreneur s passion is for activities involved in establishing a venture for commercializing and exploiting opportunities. Finally, a developer identity is relevant where the entrepreneur s passion is for activities related to nurturing, growing, and expanding the venture once it has been created. Undeniably, some entrepreneurs may be equally passionate about all three of these identities, while others may weigh one identity as significantly more meaningful. Thus, passion is aroused not because some entrepreneurs are inherently disposed to such feelings, but rather as a result of entrepreneurs engagement in something that relates to a meaningful and salient self-identity for them. Once activated, we theorize that entrepreneurial passion catalyzes full-blown emotional experiences, complete with engagement of both the brain (e.g., goal cognitions) and the body (e.g., entrepreneurial behaviors) response. The brain and body responses triggered by passion do not appear as independent and disconnected responses, but rather as a coherent and coordinated pattern that is maintained over time. The passion experience facilitates an entrepreneur s efforts to adapt and cope with environmental challenges without presuming that the resulting adaptation and coping is necessarily functional (see figure 2). FIGURE 2 The Insights Our theory moves beyond global assertions about passion versus reason to provide a fine-grained understanding of what passion does, when it is functional, and why. This theorizing allows new insights into questions such as Why do some entrepreneurs succeed in achieving impossible goals despite the odds and failures along the way, while others burn out too quickly, resulting in grief and disappointment? Our theorizing suggests that passion may be a critical ingredient in an entrepreneur s success in achieving challenging goals and not simply because it mobilizes energy and enhances commitment. Rather, it is because passion activates heuristic cognitive processing and coordinates broaden and build mechanisms that are especially functional. As such, our theory posits that entrepreneurs like Wayne Huizenga, Anita Roddick, or Stephen Wozniak may have succeeded because they had high levels of passion for their entrepreneurial identities, in particular for the inventor identity. It was this passion that kept their energy focused on overarching, albeit challenging, goals and promoted cognitive mechanisms that were not easily hindered by temporary setbacks, impediments, or failures. Likewise, we can theorize that some nascent entrepreneurs may lose the fire of passion because less meaningful role identities are invoked as the venture grows. For example, in the early stages, entrepreneurial activities are typically linked to an inventor identity. In later stages, activities are more likely related to a founder or developer role, and are less central to the entrepreneur s self-identity. Some entrepreneurs may find identity meaning in each role and harmoniously shift from one identity to the other as the venture emerges and grows. Similarly, some entrepreneurs who appear passionate yet forego their inventions or ventures to others may have passion for the inventor or founder, but not for the developer identity. The Payoffs We expect our work to change entrepreneurs effectiveness, entrepreneurial practice, and entrepreneurial education. 1. Knowing what something is allows us to do something about it. By defining and distilling what entrepreneurial passion is, entrepreneurs would be more prone to consciously access their feelings of passion and to channel them for functional outcomes. We do not presume that entrepreneurs can necessarily be trained to feel more or less passion for entrepreneuring. Neither do we assert that passion is a panacea for successfully coping with entrepreneurial challenges. Rather, our theory can help entrepreneurs keep the fire of passion burning and create the conditions that can channel its power for effectiveness. 2. If venture capitalists bets are motivated by experience rather than wishful thinking, defining and distilling the nature and experience of entrepreneurial passion can alter entrepreneurial practice by providing a foundation for consideration of passion equity, passion dividends, and passion return. 3. There is an emergent need for understanding what entrepreneurship is and what deep passions drive individuals to creative discoveries, inventions, and solutions that better the world in which we live. Current curriculum pays little attention to matters of entrepreneurial passion, even when entrepreneurship is the focus. Our theory can change that by providing the theoretical and practical foundation for developing a curriculum and pedagogical tools for illuminating the nature and experience of entrepreneurial passion, and its contribution to successful entrepreneuring. To access additional Weatherhead faculty research visit 13

9 Using Manage by Designing to Inspire Innovative Thinking at Cleveland s University Circle Institutions The wide variety of institutions in Cleveland s University Circle area have a new way of collaborating, dealing with challenges and capitalizing on opportunities utilizing the newly-created approach Manage by Designing, which is being spearheaded by the Weatherhead School of Management. The local institutions are now using design concepts to reevaluate and reframe their individual and collective roles and impact, which will enable them to design better experiences for their stakeholders. One of the fundamental tenets of Weatherhead s Manage by Designing initiative is to adopt a design mindset to reframe challenges and imagine fresh solutions. Good management is not just about choosing the best alternative; it is also about designing new and better ones. Manage by Designing is built on the premise that our corporations and our institutions need leaders who observe with fresh eyes, conceive and model new possibilities, experiment with alternatives, implement and refine best ideas, and continue to question existing conditions, said Fred Collopy, PhD, chair of Weatherhead s Information Systems Department, who leads the school s internationally recognized Manage by Designing charge. Through this approach, we believe the art, design, and management capabilities of University Circle institutions can strengthen each other to make the region a center of innovation. To begin the process for University Circle, Weatherhead recently sponsored Reshaping Boundaries in Art, Design, and Management. The three-day workshop drew forty-five participants from nineteen University Circle institutions, including several academic departments at Case Western Reserve University, Cleveland Institute of Art, Cleveland Museum of Art, Cleveland Playhouse, Museum of Contemporary Art Cleveland, Karamu House, and the Cleveland Clinic. The workshop involved a series of interactive group exercises, and the creation of two- and three-dimensional representations of go-forward ideas. It was facilitated by Lucy Kimbell of the Saïd Business School at Oxford University and Youngjin Yoo of Temple University in Philadelphia. BusinessWeek Confirms Weatherhead as One of the World s Best in Design in Management A September 30, 2009 special report by BusinessWeek listed the Weatherhead School of Management as one of the world s thirty best university programs for teaching both business and design, emphasizing design s strategic role in business, and significantly bridging disciplines such as design, business and technology. Weatherhead s MBA curriculum includes a two-semester course on Managing Design Opportunities, course work in systems and design thinking, and the development of hands-on skills such as sketching and prototyping. The School is internationally recognized for Manage by Designing as an emerging theme in management education. Visit for more information. MBA Program Ranks Thirty-Third Worldwide, Celebrated by the Aspen Institute The Weatherhead School of Management has demonstrated significant leadership in integrating social, environmental, and ethical issues into its MBA program, according to the Aspen Institute s Edition of Beyond Grey Pinstripes, a biennial survey and alternative ranking of business schools. The school has ranked thirty-third on a list of the Top 100 business schools worldwide. Sustainable Enterprise is an overarching theme at Weatherhead, said Mohan Reddy, Weatherhead Dean. With the inception of our newly formed Fowler Center for Sustainable Value, we continue to take the lead in researching and teaching sustainable business practices. While many MBA rankings exist, only one looks beyond reputation and test scores to measure something much more important: how well schools are preparing their students for the environmental, social and ethical complexities of modern-day business. This year, 149 business schools from twenty-four countries participated in an eighteen-month effort to map the landscape of teaching and research on issues pertaining to business and society. Relevant data collected in the survey, as well as the entire Global 100 list of business schools, is available at: Mr. Weatherhead Captivates Audience with Life Story Albert J. Weatherhead III, benefactor of the Weatherhead School of Management, enjoyed an hour-long chat with The Plain Dealer Columnist Regina Brett on the Sound of Ideas, a daily show featured on Cleveland s NPR affiliate, WCPN 90.3 FM. Weatherhead reflected on his life and career, his new book, our school, and his outlook on the economy. Read his biography and download the complete Sound of Ideas interview on our website at: At the Thirty-Sixth Annual David A. Bowers Economic Forecast Luncheon, Banking and Finance Senior Lecturer Sam Thomas, PhD, will examine current business and financial news while presenting an unbiased, academic viewpoint to explain the state of our economy. Dr. Thomas will make predictions for 2010 s economic outlook and discuss implications on business and policy. Tickets are $50. Register online at Thank you to our 2009 sponsors. Sponsorship investment opportunities are still available. For more information, please contact: 14 To access additional Weatherhead news visit Angela Weaver Director of Donor Relations, Operations, and Special Gifts

10 Weatherhead Partners with the Aspen Institute to Help First Movers Blend Business Success with Societal Well-Being This past spring, the Aspen Institute Business and Society program announced the inaugural class of First Mover Fellows, a group of sixteen diverse individuals who have been chosen for their desire and ability to implement breakthrough strategies that create profitable business growth and, at the same time, contribute to a sustainable society. In collaboration with the Aspen Institute, the Weatherhead School of Management, along with MasterCard; IDEO, a global design consultancy; Babson College; and the Fetzer Institute, has helped craft a program that will help the First Mover Fellows develop their passion and skills that will make their innovations a reality. The fourteen-month program is built around three core themes reflection, innovation, and leadership. Fellows will have time to reflect on their own values and make explicit the personal convictions that underpin their decisions. They will also develop skills used by successful innovators and explore strategies to develop their personal capacity to lead. As part of the program, each Fellow will commit to complete a project that has clear business and social impact objectives. Char and Chuck Fowler RECEIVED 2009 AFP Leadership Award On Friday, November 6, 2009, Char and Chuck Fowler received the prestigious Association of Fundraising Professionals (AFP) 2009 Philanthropist Leadership Award. The award was presented in concert with the AFP s 26th National Philanthropy Day Celebration at Signature at LaCentre in Westlake, Ohio. The Fowlers, who were conominated by Case Western Reserve University, the Weatherhead School of Management, and University Hospitals of Cleveland, have made an overwhelming impact on the achievements of Weatherhead students and alumni, the development of our faculty, and the legacy of future generations. Their most recent support comes in the form of a $7.5 million gift to establish the Fowler Center for Sustainable Value. The Center is an important component of Weatherhead and will serve to advance extraordinary business innovation and social entrepreneurship by discovering how the social and global issues of our day can become bona-fide business opportunities. B. Charles Ames Business Plan Competition Winners Selected Congratulations to the team of Sameer Patel, Surabhi Pilgaonkar, Kevin Hartman, Nidhi Syan, and Tejas Maniar, winners of the first annual B. Charles Ames Business Plan Competition. The students, now Weatherhead alumni (MBAs 09), competed as part of a year-long course directed at developing a viable business plan for a small to mid-sized northeast Ohio company. Six teams presented their detailed management strategies to a panel of industry judges, and the winning group was awarded a cash prize. This competition was made possible through Ames financial support and vision to position Weatherhead as a driver for economic growth in the region. Placing second was the team of Bishoy Gad, Nikhil Khanna, Jay Shah, Anand Singh, and Lee Steinbock. Accountancy Assistant Professor Gregory Jonas, PhD, Featured as a Presenter at Several Conferences Dr. Jonas presented at the Ohio Regional Meeting for the American Accounting Association on Textbook Websites: User Technology Acceptance Behavior, and Corporate Social Responsibility Reporting: Effects of Voluntary Disclosure Using Global Reporting Initiative Standards. Jonas also presented his work The Hand That Rocks the Cradle: Disciplinary Socialization at the American Accounting Association s Doctoral Consortium, (co-authored with Weatherhead School of Management Professor Timothy Fogarty, PhD) at the University of North Carolina at Greensboro. Professor Gary Previts, PhD, Lends Expertise to AAA Panel This past August, the E. Mandell de Windt Professor in Leadership and Enterprise Development and newly named Accountancy Department Chair, Dr. Previts served as a panel member at the 2009 AAA Annual Meeting in New York to discuss developments in federal financial regulation. Professor Mark Taylor, PhD, Joins the Accountancy Department Dr. Taylor comes to Weatherhead from Creighton University, where he was a member of the faculty since Additionally, he has held appointments at Brigham Young University, the University of South Carolina, and the University of Nebraska-Lincoln. Taylor s research interests focus primarily in the area of auditing. He has performed studies in auditor independence, audit pricing, auditor industry specialization, and forensic auditing. As a current member of the Auditing Standards Board, Taylor s work has appeared in the top auditing research journals, including Contemporary Accounting Research, Auditing: A Journal of Practice and Theory, Accounting Horizons, and the International Journal of Auditing

11 Banking and Finance Economics INFORMATION SYSTEMS Marketing AND Policy Studies Professor J.B. Silvers, PhD, Weighs in on Health Care Banking and Finance Department Chair and Elizabeth M. and William C. Treuhaft Professor of Management Dr. Silvers appeared on the national PBS show, NewsHour with Jim Lehrer, to discuss the $2,000,000,000 in federal stimulus funds that have been set aside for nearly 1,200 community health care centers around the country. C.N.V. Krishnan, PhD, Collaborates with Weatherhead Faculty on Several Articles Dr. Krishnan has several works forthcoming in the Journal of Financial Intermediation. Krishnan co-authored Predicting Credit Spreads with Peter Ritchken, PhD, the Kenneth Walter Haber Professor, and an outside co-author. Krishnan also collaborated with Associate Professor Ajai Singh, PhD, and outside co-authors on Examining Bank SEOs: Are Offers Made by Undercapitalized Banks Different? His article, Law Firm Reputation and Mergers and Acquisitions was accepted for presentation at the 2009 Conference on Empirical Legal Studies at the University of Southern California, and was listed in the top ten journal download list in Social Science Research Network for October Professor Susan Helper, PhD, Speaks Out About the Auto Industry The AT&T Professor in Economics and auto industry expert Dr. Helper, who was recently named chair of the Economics Department, co-authored the article, Can Price Hikes Save GM? in The Daily Beast, and was also quoted in the Washington Post and on Earlier this summer, Helper appeared on a panel with MSNBC s Ed Schultz to discuss the government s investment in GM. You re the Boss Congratulations to the A. Malachi Mixon III Professor of Entrepreneurial Studies Scott A. Shane, PhD, who recently began blogging for the New York Times small business and entrepreneurship blog called You re the Boss: The Art of Running a Small Business. Dr. Shane is also writing a new column series for BusinessWeek online. His first piece is titled Tougher Access to Credit Cards Benefits Entrepreneurs. Shane s series will focus on challenging commonly-held myths about entrepreneurship. The New Business of Doing Business In a special appearance on WCPN s Sound of Ideas, Fred Collopy, PhD, and David Cooperrider, PhD, discussed Weatherhead s central themes, Manage by Designing and Sustainable Enterprise, and the importance these topics play in the development and preparation of tomorrow s business leaders. Weatherhead Professor Named to Design Jury Fred Collopy, PhD, was recently named to the European Design Management Award Jury for Dr. Collopy was the only professor chosen from North America. The Award is a business accolade that recognizes the skills and leadership of management to implement design in business for commercial success. Richard Buchanan, PhD, Speaks in Denmark on Design Theory Dr. Buchanan visited Denmark to speak about design theory and take a closer look at developments within design research at the Danish Centre for Design Research s annual research rally. According to Buchanan, there is critical mass for a successful Danish design research community with just enough diversity to make the future a lively prospect of new thinking. Kalle Lyytinen, PhD, Recives NSF Grant Dr. Lyytinen, the Iris. S. Wolstein Professor of Management Design, received a National Science Foundation Grant for his study on VOSS-Collaborative Research: Virtualization of Work Capabilities in Project-Based Design Organizations. The goals of the study are: how project-based design organizations virtualize their work capabilities by entangling both virtual and physical materiality, and how design control and environmental volatility affect the virtualization process. Marketing and Policy Studies Adds a Member Rakesh Niraj, PhD, joined the Marketing and Policy Studies Department as an assistant professor. He comes to Weatherhead from the Marshall School of Business at the University of Southern California. Prior to completing his PhD at Washington University, Dr. Niraj worked at Larsen & Toubro Ltd. in India. His research interests include retailing and distribution, customer relationship management, and consumer choice models. Niraj s work has been published in the Journal of Marketing, Management Science, Marketing Science, and the Journal of Marketing Research. Research at the Boundary Between Medicine and Marketing Andrew Gallan, PhD, joined the Marketing Division in 2008 as an assistant professor and has hit the ground running with research at the intersections of specialized health care and marketing. Patient care has been a focal point of concern for leading organizations like the Mayo Clinic and Cleveland Clinic, each of which specializes in tertiary care, and relies on business models that require referrals from primary care physicians outside their organizations. This intersection between specialized health care and marketing provided the context to Dr. Gallan s dissertation research. Gallan has leveraged insights to contribute to both new and ongoing joint research between Weatherhead and Case Western Reserve University s School of Medicine, including multiple efforts that have earned grants to support their continuation. Moreover, he has secured an appointment as assistant professor of Medicine through the School of Medicine. 19

12 Operations Organizational Behavior Article Becomes Seventh-Most Downloaded in Past Twelve Months An article co-authored by the H. Clark Ford Professor of Marketing, Jagdip Singh, PhD, is the seventh most downloaded article over the past twelve months on the Journal of Marketing website. Consumer Trust, Value, and Loyalty in Relational Exchanges appeared in the January 2002 edition of the Journal of Marketing. The Journal has remained one of the most impactful resources in the marketing discipline for more than seven decades. Professor Takes on Lead Role at the AMA Conference Gary Hunter, PhD, chaired the Sales and Relationship Marketing track for the American Marketing Association s Winter Educators Conference in Tampa, Florida. Reflecting a surge of interest in professional selling and relationship marketing, his track was one of the largest, drawing thirty-two competitive papers and six special session proposals which generated reviews from 115 marketing scholars and doctoral candidates from many top international business schools. Professor Matthew J. Sobel, PhD, Presents Paper at Annual Meeting Dr. Sobel, the William E. Umstattd Professor of Industrial Economics, presented the paper Risk Aversion and Supply Chain Contract Negotiation for the annual meeting of the Manufacturing and Service Operations Management Association in Cambridge, Massachusetts. Sobel co-authored the work with Danko Turcic, a Case Western Reserve PhD recipient who is on the faculty of the Olin School of Management at Washington University in St. Louis. Professor George Vairaktarakis, PhD, Leads Executive MBA Students Abroad A group of thirty EMBA students traveled to Istanbul and Athens with Dr. Vairaktarakis to study Microsoft Corp., the Istanbul Stock Exchange, the Bursa Chamber of Commerce, Yesim Textiles, Coca-Cola Hellenic, ALBA University, Titan Cements Corp., and INOS Automation as part of their management curriculum. Operations Article to Appear in Prestigious Journal The article Coordination of Outsourced Operations to Minimize Weighted Flowtime and Capacity Booking Costs, co-authored by Vairaktarakis and Tolga Aydinliyim from the University of Oregon, will appear in the next issue of Manufacturing & Service Operations Management. The authors show that work-in-process costs in supply chains can be reduced by an average of 32 percent if the various members agree to coordinate their production operations. Professor David Cooperrider, PhD, Delivers Keynote Address on Positive Institutions Fairmount Minerals Professor of Social Entrepreneurship Dr. Cooperrider was the keynote speaker at the inaugural First World Congress on Positive Psychology in Philadelphia. Positive Psychology investigates the strengths and virtues that make individuals and communities thrive. This discipline has been strengthened by pioneering work at Weatherhead through the Master of Science in Positive Organization Development program and Appreciative Inquiry. Cooperrider s speech, titled Discovery and Design of Positive Institutions, discussed how organizations can magnify not just products or services, but are vehicles for bringing courage, love, wisdom, and humanity into society. New Assistant Professor Named to the Department Corinne Coen received her PhD in 2001 from the Ross School of Business at the University of Michigan. She comes to Weatherhead from SUNY Buffalo where she was a member of their faculty for eight years. Dr. Coen s research interests include multiple team interactions with a focus on dynamic decision processes involving cooperation, competition, influence, and organizational resilience. She has explored these topics using laboratory experiments, agent-based modeling, and complex systems framing. In 2008, Coen was awarded the Outstanding Leadership and Contribution Award by the Academy of Management. Her work has been published in Organizational Behavior and Human Decision Processes, Simulation Modeling Practice and Theory, and Computational and Mathematical Organization Theory. Diana Bilimoria, PhD, Receives NSF Grant This September, Dr. Bilimoria received a three-year grant from the National Science Foundation called Institutions Developing Excellence in Academic Leadership (IDEAL). Bilimoria is a Co-PI on the grant; Lynn Singer is the PI. The award is an NSF Advance Paid Grant to transform universities by improving the recruitment, advancement, and retention of women and underrepresented minority faculty in the sciences and engineering. IDEAL will create a unique learning community and partnership among Case Western Reserve University and five other public research universities in the northern Ohio region seeking to adapt successful equity and inclusion practices and models to educate and empower faculty and administrative leaders. David Cooperrider, PhD, Collaborates with Costa Rican President Dr. Cooperrider recently worked with Nobel Laureate and Costa Rican President Oscar Arias on an Appreciative Inquiry summit for the Global Alliance for Building Ministries and Departments of Peace. According to Cooperrider, President Arias is interested in looking at the profound economic benefits of peace, and the economic absurdity of war. 21

13 can hurt career advancement She is the one going out of her way to help colleagues with heavy workloads. She is skilled at passing along information to others, orienting new employees, sharing expertise, listening to personal problems, taking action to prevent dilemmas, and voluntarily doing more than her job description requires. In her entirety, an organizational wife takes on the invisible helping activities that assist colleagues, the department, and the organization the outcome is that the entire system is more successful. By Diane Bergeron, PhD Assistant Professor, Organizational Behavior The thought of this nurturing figure at work sounds comforting, but for the women playing this part, being an organizational wife comes with a cost. The title organizational wife doesn t necessarily increase a female s work productivity or help advance her career. According to the U.S. Department of Labor, women currently hold about 50 percent of managerial positions. Yet, at senior levels, women comprise less than 12 percent of corporate officers and board director roles, and only 5 percent of the highest title holder positions in the Fortune 1000 companies (Catalyst, 2001). A number of reasons have been put forth to explain the scarcity of women at these senior management levels. Attempts to explain this occurrence have focused primarily on racial and gender discrimination, stereotypes, a lack of mentors, heavier domestic responsibilities, and a lack of line experience. Many women in the private sector report that one of the main glass ceiling issues they face is that their contributions are not recognized or valued (Catalyst, 1998). This may point to the fact that women s contributions in the workplace, similar to the traditional wifely contributions in the home, are not properly appreciated or rewarded. Many times women engage in these activities because they have more of a relationship focus or because of others expectations. The important thing to note is that, despite the potential career drawbacks, the helping behaviors organizational wives provide are important. The organizational wife classification is not gender specific. Men also engage in helping behaviors. The research trends that are seen most with males, though, is that their helping activities are often more visible and less time-consuming, and include tasks such as challenging the status quo and making constructive suggestions. Men aren t discussed nearly as much, or at all in the organizational wife conversation because typically there is more expectation from and attention focused on women who fall into this category. 22

14 Research shows that the existence of organizational wives improves the performance of a group and an organization. Their helping behaviors result in positive outcomes including high product quality, a high level of production, better team effectiveness, increased operating efficiency, and higher customer satisfaction. Many of these maintenance activities are needed by the organization but are not found in anyone s job description. This is where organizational wives carry the weight; their extra efforts resulting in overall company success. The results were fascinating. Female faculty members were, in fact, engaged in more helping activities than their male counterparts. They also had fewer publications, and were promoted more slowly from the associate level to the full professor rank than male faculty. Variables such as hours worked, domestic responsibilities, and experience were controlled. As a result, helping behaviors were a cause of women s lower research productivity and slower career advancement. My research has heightened my interest in replicating this type of work in an organization that has an outcome-based reward system (e.g., sales) or in a professional services firm. I believe that the same dynamics are at play in these types of work environments. On the individual level, it is true that helping behaviors exhibited by organizational wives contribute to positive performance evaluations and rewards, including salary increases. However, the same research shows that job behaviors carry more weight than helping behaviors in determining these evaluations and rewards. My research focuses on resource allocation in the form of time. For example, a common complaint of managers and professionals is that they do not have enough time. In reality, time is a 24-hour-a-day fixed resource something that cannot change no matter who we are or where we work. In a specified time interval, individuals make certain resource allocation decisions as to where to spend their time. Within the period allocated to work, organizational wives choose to participate in two main activities that constitute job performance: in-role activities (what is part of their job) and helping activities (tasks that go beyond their job but that help make the department or their colleagues more effective). Because there is a fixed amount of time, any time spent on helping activities comes at the expense of in-role activities. Thus, a tradeoff exists. Since research shows that in-role job activities are more rewarded, spending time on helping activities can come at a cost to women s own productivity and, ultimately, their career advancement. I conducted a similar study for my dissertation, but instead of researching corporate America, I chose to explore the field of academia. I sampled more than 600 faculty at seventy research universities for two key reasons. First, the reward system is similar across research universities. Faculty are rewarded based on the number of articles they publish and are generally promoted every seven years. Second, the number of publications and career advancement were both easily quantifiable outcomes. These institutions use the same up or out system as many consulting, accounting, and legal firms. Ultimately, this research can give both employees and organizations a new perspective on barriers to female career advancement. In many cases, organizations may be unintentionally encouraging activities that negatively impact women and lead to an increase in turnover. If companies become aware of the problem, they have the ability to change the reward system or work to more equitably distribute helping activities between men and women. They can also be aware of their expectations that women should do more of these helping behaviors. Organizations can also heed specific advice for coaching women. And for professional women, particularly the ones who fall into the organizational wife category, these findings may show empirically what most already knew intuitively. Enlist the help of a mentor or a manager to more evenly distribute the burden of helping activities. Or simpler yet, choose to spend time differently. In the broad framework, the time required by helping activities may seem trivial, but over a distinct period, relatively small differences in dayto-day behavior can lead to major differences in long-term outcomes, such as career advancement. To access additional Weatherhead faculty research visit 24

15 Grow Your Ideas Richard J. Boland, Jr., PhD Professor, Information Systems Seed is a software tool for complex reasoning designed by Richard Boland, PhD, and Dr. Tanvir Goraya, a senior associate of the Weatherhead School of Management s Information Design Studio. It enables people to model their ideas by drawing diagrams of the cause and effect relationships in a complex situation. The models are theories, and Seed helps test theories by simulating a model s behavior under different assumptions about the causal relationships among its elements. Students in the SAGES seminar on System Thinking (USSY 204) taught by Dr. Boland share their ideas about many types of complex systems in a website community named Theory Garden. It includes theories ranging from childhood obesity to alternative energy, and from managing diabetes to the effects of altruism on stress and well-being. There are several key concepts behind the design of Seed and Theory Garden. The first concept is System Thinking, which views the world as multilayered sets of systems, or relatively stable wholes, formed by recurring patterns of causal relationships among a set of elements. Systems are multi-layered hierarchies; viewed from above they are layers of wholes composed of parts, and viewed from below they are layers of parts organized into wholes. By modeling and testing their ideas about the everyday systems that interest them, students gain insight into public policy issues and the design of socio-economic solutions. The second concept is the Scientific Method. Seed encourages you to think like a scientist, making your theory about some aspect of the world visible so that you can manipulate it, share it, and test it. Theory Garden is, in a sense, a community of everyday scientists: something that is increasingly needed in today s world. The third concept is Visual Thinking, which emphasizes the importance of creating images during the thought process. Drawing images and manipulating them is a valued form of thinking in its own right. Drawing and revising a model of our theories both prompts and reflects changes in our thinking about its elements, relations, and values. For more information on this software, visit The fourth and final concept is Distributed Cognition, which holds that thinking is not something that takes part solely inside our heads. Instead, thinking involves an active engagement with things in the world. Theory Garden is designed to integrate your actions and your thinking in complex situations. The creation and movement of elements, the drawing of relationships, the animation of models, and the exploration of their cycles and networks of influence are all part of developing your theory and guiding your action in the world. The Geography of Executive Compensation Christa Bouwman, PhD Assistant Professor, Banking and Finance Various papers have recently documented that distance matters in economic transactions. There are several reasons to believe it could matter in executive compensation as well, in the sense that CEO compensation (salary and cash compensation) may depend on how much geographically-close CEOs earn. These include: 1. The force of local labor market competition for CEOs 2. The effect of leading firms in the vicinity as suggested by the literature on social interaction 3. Envy among geographically-close CEOs endowed with relativeconsumption preferences In 2008, Christa Bouwman, PhD, assistant professor of Banking and Finance, first examined whether geography does, in fact, matter for CEO compensation, and then explored the possible reasons for this relationship. What Dr. Bouwman found was strong evidence that CEO compensation is positively and significantly related to the level of compensation of CEOs of firms headquartered within a one-hundredkilometer or 250-kilometer radius. For example, her research results suggest that if CEOs within a onehundred-kilometer radius enjoyed a one dollar salary increase in the previous year, the CEO will experience a twenty-nine cent increase in salary this year ceteris paribus. According to the 2006 CNN. com article How to End CEO Pay Envy, Every company that wants to stay competitive needs to be able to advertise that it pays its execs as well as the next company. These results were obtained while controlling for previously-documented factors that affect CEO compensation, including CEO age, CEO tenure, firm size, growth options, and firm performance. All regressions also include the average CEO compensation at similar-sized industry peers, and proxies for local market conditions to help ensure that the results are not driven by differences in per-capita income or the cost of living. Year and industry fixed effects are included in all regressions; the results are similar when state fixed effects are added or when firm fixed effects are used instead of industry fixed effects. The results are robust to using a variety of alternative specifications, including the addition of corporate governance proxies, excluding New York and California from the sample, restricting the sample to electric utilities, and the use of log-transformed variables. An examination of what drives this relationship between geography and executive compensation reveals that the results are most consistent with envy. Robustness checks were conducted to deal with issues related to potentially omitted variables and endogeneity, and the results survived these checks. 26 To access additional Weatherhead faculty research visit

16 FIRST, DO NO HARM TO SMALL BUSINESS? A Blog Entry from the New York Times You re the Boss: The Art of Running a Small Business Scott A. Shane, PhD A. Malachi Mixon III Professor of Entrepreneurial Studies, Economics First, do no harm. Evidently those words don t apply to Congress and health care reform, at least not as it pertains to small business. Under the legislation introduced in the House of Representatives as America s Affordable Health Choices Act, Businesses that do not offer health coverage to their workers would pay an 8 percent payroll tax to help subsidize coverage What will this mean for small business in this country? Coming up with an estimate isn t easy because the Census Bureau and the Internal Revenue Service haven t released the most current data they have on American businesses, but here is my best guess. If enacted, the law will eat into smallbusiness profits severely. It won t affect most small businesses, just the ones with bigger payrolls. That s because employers with payrolls of less than $250,000 are exempt under the proposed law, and only about one-quarter of small businesses in the United States are employer firms. Moreover, 75.3 percent of the businesses with at least one employee employ only one to nine people, and these firms have average payrolls of only $102,025. Because firms with less than $250,000 in payroll are exempt from providing coverage, the tax penalty will be concentrated on only about 5 percent of businesses. (It won t affect businesses with 200 or more employees because 99 percent of them provide health insurance for their employees.) But those affected the 5 percent of U.S. businesses that employ 10 to 199 employees, who, in 2006, provided jobs for 37.9 million Americans are going to get walloped. To give you a sense of the impact on these businesses, take a look at some of my back-of-the-envelope calculations: According to 2006 census data, the average payroll of the 647,000 firms with 10 to 19 employees is $436,000. That s just above the $400,000 cutoff where the full tax penalty will kick in. The Kaiser Family Foundation reports that 62 percent of businesses with three to 199 employees offer employee health coverage. And a White House study released over the weekend said that 22 percent of companies with 10 to 24 employees don t offer health insurance to their workers. If we take the White House numbers, that s roughly 142,000 firms sized 10 to 19 that will be charged a penalty, which will average $34,880 per firm. According to the Census Bureau, the average revenue of firms of this size was $1,768,000 in So these businesses will pay about 2 percent of their revenue as a penalty under the new law. That doesn t sound like a lot, but it actually is. If we look at the data from the I.R.S. Statistics of Income on corporations of similar size, we find that net income averages only 1.3 percent of revenue. If we add in the cost of the penalty for the 22 percent of businesses that don t offer health care, we get a rough estimate that the proposed tax penalty will wipe out 38 percent of the profits at the average firm with 10 to 19 employees. Of course, the profits might not actually disappear. The companies might do what economists find they often do in response to rising health care costs: reduce wages to preserve profit margins, or at least some of them. But either way, the plan will take a sizable amount of money away from the owners of the businesses or the people who work in those companies, and that s going to hurt the smallbusiness sector. The numbers aren t much better for businesses with 20 to 99 employees. According to 2006 census data, the average payroll of the 536,000 firms with 20 to 99 employees was $1,385,000. Firms of this size that don t offer employee health coverage will be charged a penalty, on average, of $110,800. According to census data, average revenue of firms of this size was $5,675,755 in Thus the tax penalty is, again, roughly 2 percent of revenue. While I don t have the data to calculate an estimate of the impact on profits for businesses with 20 to 99 employees, it won t be trivial. The I.R.S. Statistics of Income shows that net income as a share of sales for all corporations (including big businesses which tend to have higher margins), averages only 2.9 percent. Adding in the average penalty of $111,000 for the businesses with 20 to 99 employees that don t provide health care will substantially erode these margins. Some numbers from Sageworks, a Raleigh, N.C., company that compiles data on private companies, also show substantial estimates of how much these health care penalties will hit. Sageworks data cover firms with $10 million in sales bigger small businesses than the ones I just described. According to Sageworks, the average American small business with $10 million in sales that doesn t offer employee health insurance will pay 1.7 percent of its revenue or 29.1 percent of its profits in penalties, ranging from a low of 16.2 percent in mining to a high of 47.4 percent in accommodation and food services. Now consider what might happen if small businesses tried to make up for the 8 percent of payroll that they will be charged as a penalty by, say, cutting payrolls. If the 22 percent of companies with 10 to 24 employees and the 10 percent of companies with 25 to 199 employees that don t provide employee health insurance cut their payrolls by 8 percent, we would lose another 415,000 jobs. Of course, not all businesses would cut employees to make up for the penalty. I don t know how many would, but in the current economic environment, I think doing anything that risks more job loss is a bad idea. While my previous post showed that small business is being hurt badly by rising health care costs, the House s solution doesn t meet the standard of first doing no harm. Before it rushes to pass this legislation, Congress should ask the statisticians and economists at the Congressional Research Service to estimate the share of small-business profits that the proposed health insurance penalty will eat up, and the potential job loss that could occur as companies try to deal with these penalties. Then Congress should tell the American people the numbers. To me, this would be the equivalent of looking to see if it s the left or the right foot that has gangrene before starting to hack one of them off. Read blog updates at 28

17 MORAL HAZARD AND ADVERSE SELECTION IN THE ORIGINATE-TO-DISTRIBUTE MODEL OF BANK CREDIT 30 Anurag Gupta, PhD Associate Professor, Banking and Finance The historic credit crisis of brought an important question sharply into focus to what extent should bank credit be allowed to evolve from its traditional relationship banking model to the transaction-oriented model that has largely emerged over the last two decades? This fundamental shift in banking has been due to the explosive growth in the secondary syndicated loan market. The presence of this market transforms bank credit to an originate-to-distribute model, where banks can originate loans, earn their fees, and then distribute them to other investors in a largely opaque manner. This shift to the originate-to-distribute model of bank credit has important implications for all market participants, including the originating banks, the participating loan investors, the borrowing firms, and the regulators. The banks superior information about their borrowers gives rise to concerns about adverse selection are the banks selling off loans about which To access additional Weatherhead faculty research visit they have negative private (unobservable) information? In a perfect market, this should lead to a breakdown of the secondary loan market due to the classic lemons problem. The issue of adverse selection is important from the perspective of the participating loan investors as well can they trust that the bank selling the loan is doing so due to legitimate motives (like capital relief and risk management) rather than due to negative private information? Alternatively, does it lead to moral hazard in terms of impairment in the monitoring function of banks, thereby having a negative effect on the borrowers? Associate Professor of Banking and Finance Anurag Gupta, PhD, shows that the borrowers whose loans are sold in the secondary market underperform their peers by about 9 percent per year (risk adjusted) over the three-year period following the initial sale of their loans. As a result, either banks are originating and selling loans of lower quality borrowers based on unobservable private information (adverse selection), and(or) loan sales lead to diminished bank monitoring that affects borrowers negatively (moral hazard). Based on their findings, Dr. Gupta and his collaborator, Antje Berndt from Carnegie Mellon University, propose regulatory restrictions on loan sales, increased disclosure, and a loan trading exchange/clearinghouse as mechanisms to alleviate these problems. Gupta s research received extensive media coverage including an article in the Wall Street Journal, a live television interview on CNBC s Squawk Box, and coverage on NPR s Marketplace, among others. The Weatherhead School of Management is proud to announce the appointment of three new faculty chairs in the departments of Accountancy, Banking and Finance, and Economics. Gary Previts, PhD (Accountancy), J.B. Silvers, PhD (Banking and Finance), and Susan Helper, PhD (Economics), assume these respective leadership roles, and together, bring a combined seven-plus decades of experience to their positions. Dr. Previts has been a distinguished member of the Weatherhead faculty for the past thirty years. His accounting credentials are extensive, having served as president of both the Ohio Society of Certified Public Accountants (OSCPA) and the American Accounting Association (AAA). He is also a member of the American Institute of Certified Public Accountants (AICPA) Board of Directors, the Accountability Advisory Council of the U.S. Government Accountability Office (GAO), and the Advisory Committee on the Auditing Profession of the U.S. Department of Treasury. At Weatherhead, Previts is involved in groundbreaking research that investigates the origins and events that shape contemporary accounting practices. Along with his colleagues, he has conducted studies for the AICPA Special Committee on Financial Reporting, and the Financial Accounting Standards Board s (FASB) Business Reporting Research Project. Previts is the editor of Research in Accounting Regulation and co-author of A History of Accountancy in the United States. In addition to being named the Accountancy Department Chair, Previts holds the prestigious E. Mandell de Windt Professorship in Leadership and Enterprise Development. Dr. Silvers, another thirty-year veteran of Weatherhead, is the Elizabeth M. and William C. Treuhaft Professor of Health Systems Management, and the newly named Banking and Finance Department Chair. Before coming to Weatherhead in 1979, he was on the faculty at Stanford, Harvard, and Indiana University. He served as a CEO of an insurance company, an adviser to Congress, and most recently, as a member of the board of the Joint Commission, the organization that accredits and measures the quality of over 15,000 health care providers across the globe. Silvers has been published widely in the Journal of Finance, the Journal of the American Medical Association, and Medical Care. His research centers on how expensive medical treatments are chosen and how value in health care is created, distributed, and destroyed. Completing the newly-appointed department chair trio is Dr. Helper, AT&T Professor in Economics and member of the faculty since Helper is widely recognized by the national media as an auto industry expert. She has appeared in The Wall Street Journal, Washington Post, and the New York Times, and her work has been published in the American Economic Review, Sloan Management Review, and the Journal of Economics and Management Strategy. Helper s research focuses on the causes and consequences of long-term, informationrich relationships between suppliers and customers, and management and labor. Current projects include studying the development of renewable energy supply chains, the off-shoring of automotive design and engineering to India, and the development of supplier capability in the U.S. and Mexico. Helper is also a research associate of the National Bureau of Economic Research and of the MIT International Motor Vehicle Program. Each of these faculty members brings distinctive expertise to their departments, said Weatherhead Dean Mohan Reddy. We are fortunate to have them on board in these key leadership roles, guiding our programs forward this academic year and into the future. 31

18 Let s envision a future. Actually, lots of futures. Futures in which business is an agent of positive change. Let s use design to help us get there... Peter Coughlan Partner, IDEO A Report from the 2009 Global Forum for Business as an Agent of World Benefit One of the world s most respected designers, IDEO s Peter Coughlan, opened the design sessions at the 2009 Global Forum for Business as an Agent of World Benefit (BAWB) and got to the heart of what the entire event was about: learning to use design principles to help business do good in the world. From June 2-5, 2009, 600 leaders of design, sustainability, business, policy, and management came together in action-oriented work that married two of the Weathehead School of Management s core exploration areas: Manage by Designing and Sustainable Enterprise. Over the Forum s three days at Case Western Reserve University s Veale Center packed with Appreciative Inquiry (AI) collaboration, group discussions, breakout panels, plenary speakers and keynotes, and evening events participants envisioned and designed ways to enhance their fields and meet today s pressing social and environmental needs. The crowd was diverse, with more than a dozen countries represented, a dozen leading business schools in the room, and stakeholders present from IBM, P&G, Dow Chemical, Accenture, Herman Miller, Ford Motor Company, Cisco Systems, WorldBlue, Patagonia, Walmart, and Fairmount Minerals, among others. At the end of day one, Global Forum participant Ed O Bryan Tweeted: First day, met people that ended two wars in Africa, trained 17,000 election workers in Bosnia, and started microfinance in Mozambique! 33

19 Inspiring Stories The Global Forum for BAWB allowed participants to share stories of businesses and designs working as agents of world benefit. Here are some of their favorites: XR3 is a three-wheel car that gets mpg, based on high-efficiency diesel/li-ion batteries. The design is open-source, so anyone can buy the plans for $200 and build their own car. Anyone can make changes and improvements to the car and share them with other owners. Cleveland Carbon Fund is a regional fund for carbon footprint reduction. Sunflower Solutions is a Cleveland-based company whose manual solar panel adjuster allows for a cheap, highly-efficient collection of solar power especially designed for third-world use. Harlem Children s Zone, Inc. is an organization that deals with multiple issues in one community in an integrated way (education, health care, jobs, the environment, etc.) bracnet is an organization that enables people in remote areas of Bangladesh to have Internet access and WiMax (broadband wireless). Dean s Beans is a fair-trade, living-wage paying, organic coffee company that advertised that they would send a free pound of coffee to anyone adversely affected by economic downturn. The Reckoning is a Cleveland-based organization that offers microloans to individuals and families. is an non-governmental organization that uses all types of media outlets, especially social networking, to raise awareness, support, and financing to become self-supporting in its efforts to help Ugandan children from being victimized. As a partner at the design firm IDEO, Coughlan was well suited to guide the forum s versatile, and sometimes novice, designers. He regularly organizes teams and processes that shape the daily lives of hundreds of millions of people; think of the gummy grip on your toothbrush or the water pumps used by entrepreneurial projects in the developing world. Integrating Coughlan s design expertise into the AI process helped accelerate creative action at the summit, according to AI co-creators and Global Forum facilitators Ron Fry, PhD, and David Cooperrider, PhD. During all three days of the Forum, Coughlan, Fry, and Cooperrider called on participants to imagine and create practical solutions to today s business challenges. Participants were asked to contemplate: What if business leaders thought more like Coughlan and his team at IDEO? What if designers like Coughlan sought business opportunities in the world around them? What if our most pressing social and environmental needs could be solved by such efforts? How might design thinking be used to enliven management education and reinvigorate business around the world for the benefit of all? Talks by architect Bill McDonough, economist Jeffrey Sachs, Professor Peter Senge, designer Bruce Mau, and others expressed a need for great change in the fields of design and business. As GreenBlue designer Jason Pearson noted, We re becoming victims of the unintended consequences of our own design. While recognizing the gravity of today s global business and environmental climate, the Global Forum for BAWB emphasized the opportunity within those challenges, Sustainability is the business opportunity of the 21st century, said Cooperrider during his opening remarks. Janine Benyus, co-founder of the Biomimicry Guild, also gave a hopeful call to Forum participants at her June 4 evening talk on the urgent need to learn from nature and its design principles. It s not the time to dream small, said Benyus. With themes like Biomimicry, Cradleto-Cradle design, Systems Thinking, AI, and Sustainable Value in mind, participants explored Global Forum subthemes in their design work by inventing projects related to one of four recognized needs: a Nobel-like prize for business as an agent of world benefit; a process to help firms become a source of sustainable value; a World Learning Architecture to advance business and societal innovation; and a new theory of the firm to advance the Principles of Responsible Management Education (PRME, a United Nations initiative and an output of the 2006 Global Forum for BAWB). Participants designed an expansive collection of potential initiatives that are currently being developed, explored further, and implemented post-summit, in participants communities, offices, board rooms, and schools. Specifically for the theme of World Learning Architecture to advance business and societal innovation, an eclectic set of possible initiatives emerged during the Forum and included: smart games about sustainability for video game consoles (PlayStations, Wii, etc.); iphone Eco Applications that track your carbon footprint; Eco-Impact indicators on Google maps; and Sesame Street for sustainability. Any of these ideas could take flight, but as Coughlan, through his presentation and work, explained at the summit, it will take a designerly approach to make the ideas practical or satisfying enough to find a place in our day-to-day lives. Explore the Global Forum for BAWB today at Co-Conveners and Sponsors The Global Forum was hosted by Case Western Reserve s Weatherhead School of Management; the United Nations Global Compact, with its 4,000 corporations from around the world; and the Academy of Management, with its 19,000 business school professors from over ninety countries. The Global Forum was made possible by the Forum s consortium: Fetzer Institute, SESI/Brazil, and Fairmount Minerals, and by other Global Forum sponsors: Accenture and the Cuyahoga County Planning Commission. The Virtual Global Forum As an ongoing initiative, the Global Forum for BAWB will reconvene June 6-8, In the meantime, work continues through a Virtual Global Forum, where more than 500 participants can connect with others, share their related work, watch videos of Global Forum speakers, panelists, and design sessions, and explore papers and presentations on Global Forum themes. The Aniruddha Upasana Trust is an organization in India that designed a thirteen-point program that helps villagers become self-sufficient and engaged in their economies with respect to food, education, and standard of living. 35

20 William Conway Chairman and Founder, Fairmount Minerals Mr. William Conway s story began in Cleveland, raised in a family where he was one of thirteen children. The eventual founder of Fairmount Minerals, Conway learned the value of hard work and education from an early age by watching his father. Despite not matriculating past the eighth grade, his father had a knack for numbers and a good way with people. This passion allowed his father to work his way up the corporate ladder and eventually become president of Fisher Brothers and Company. Under his father s tutelage, the company became the largest grocery chain in Cleveland until it was sold in the 1960s. Because Conway s father was unable to take advantage of advanced formal education, he promised his children that they would always have the opportunity to attend the best schools and universities. Taking his father up on this pledge, Conway attended and graduated from Yale. After graduation, he moved to Minnesota to begin a career in the iron ore mining business. Conway s career spans many decades and includes a large number of highlevel positions. He rose to be the Executive Vice President of Pickands Mather & Co. for twenty years, and then as the Executive Vice President of Administration at Diamond Shamrock, and in 1974, Conway joined the Midland Ross Corporate as Group Vice President of Capital Goods. After a lengthy tenure in corporate business, Conway made the decision to purchase and run his own company. In 1978, with the support of friends and family, he invested in Best Sand Corporation, headquartered in Chardon, Ohio. The company produced high-purity silica sand and silica gravels. Through the industry association, Conway became acquainted with Chuck Fowler, now the CEO of Fairmount Minerals. Fowler was running a large industrial sand plant in Illinois owned by Martin Marietta at the time of their acquaintance. Their friendship quickly grew and the two men came together to form Fairmount Minerals, Limited, now one of the largest producers of industrial sand in the United States, with operations in Ohio, Illinois, Michigan, Wisconsin, Oklahoma, Texas, Mexico, and China. Today, the company prides itself on its culture one that has been built on Appreciative Inquiry (AI), an organizational development method of change co-created by Weatherhead School of Management s David Cooperrider, PhD, and Ron Fry, PhD. The AI process was first introduced to Conway during the late 1980s when Fowler enrolled as a student in the Weatherhead Executive MBA (EMBA) program. Fowler s course of study allowed him to engage in AI practices and bring these ideas back to Fairmount Minerals. To me, the ideas that Dr. Cooperrider has put into a systematic format are something I ve always believed in, said Conway. By treating human beings with respect and giving them the opportunity to grow and express themselves, you are helping develop their positive traits. They will be more productive because of it. Conway s support of AI led him and Fowler to introduce and reinforce this method in Fairmount Minerals every-day business operations. Believing in, and using AI was a great perspective to have for the company. Once it was introduced and systematically spread throughout the organization and has become the way Fairmount operates, commented Conway. In addition to his support of AI, Conway has a rich and long history with Weatherhead. B. Charles Ames, a friend and early investor in Best Sand Corporation, was head of the Weatherhead Visiting Committee during Dean Theodore M. Alfred s tenure. Ames asked Conway to join the Committee. Once he accepted, a solid relationship blossomed with both Alfred and his wife Catherine. I really admired Ted s approach, reflected Conway. His ability to build up the faculty and create an enduring legacy was outstanding. Many of those faculty members are still at Weatherhead including the current Dean, Mohan Reddy. Ted had a wonderful ability to bring people together and make Weatherhead a true part of the business community. Weatherhead is currently in the process of developing a chaired professorship to commemorate Dean Alfred s legacy via the Theodore M. & Catherine C. Alfred Fund. During the fiscal year, Conway became one of the first individuals to lend his generous support to this cause. He has also been a long-time supporter of the Weatherhead Annual Fund. Conway believes that Weatherhead has many assets and is positioned well for the future under its current leadership. The Weatherhead School has truly become reinvigorated under Dean Reddy and President Synder, said Conway. The school has a tremendous role to play in the growth of business in this region. Conway holds Weatherhead s EMBA degree in the highest light. We continue to reap enormous benefits from the EMBA program, and are firm believers in contributing to our employee s educational endeavors, he said. Several Fairmount Minerals employees including Chuck Fowler, CFO Jenniffer Deckard, and most recently Kristin Lewis, manager of Sustainable Development Communications and Engagement, have completed the program. Service to the community is another focus for Conway. He was president of the Cleveland Botanical Garden Board of Trustees during the construction of their glass house in University Circle. He is also an active member of the Cleveland Clinic board, the Harvard Business School Club of Northeast Ohio, and a member of University School s Board of Trustees. Additionally, Conway is involved with the Geauga United Way and chairs a group called the Geauga Community Impact Study. Conway and his wife Mary French have four children; two girls, Anne and Jane, and two boys, Peter and William. Each of his children, at some point in their careers, has served as teachers. His son, Peter, was the director of University School s lower school, while his daughter, Anne, is the president of Laurel School. His eldest son, William, is a screenwriter and film producer in Santa Fe, New Mexico, and his youngest daughter, Jane, is a certified nurse practitioner and lives in Breckinridge, Colorado. Mr. and Mrs. Conway have also been blessed with ten grandchildren. Conway s commitment to Cleveland, Weatherhead, and AI has remained steadfast throughout his career. His generosity and success in these endeavors is applauded by the many individuals with whom he has worked, and the many companies in which he has helped make a difference. There are a couple of sayings that I like to use when looking at life and my career, laughed Mr. Conway. No matter what, always look at the glass as half-full, especially when you re dealing with people. In my view, people want to do their best. If you treat them right, you ll help develop their best traits and they will be happier and more productive for the organization. 37

Postgraduate Prospectus 2014/15

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