HOW BUSINESS SCHOOLS CAN BE MORE ENTREPRENEURIAL

Transcription

1 HOW BUSINESS SCHOOLS CAN BE MORE ENTREPRENEURIAL DEAN STEVEN C. CURRALL UNIVERSITY OF CALIFORNIA, DAVIS GRADUATE SCHOOL OF MANAGEMENT LOWDER LECTURE SERIES CULVERHOUSE SCHOOL OF COMMERCE UNIVERSITY OF ALABAMA 13 MARCH

2 Outline Establishing financial self- sufficiency. Launching new self- supporrng program that meets demand in management educaron. InnovaRng and conrnuous improvement of curriculum. Staying nimble to establish and maintain sustainable comperrve advantages. Leveraging the strengths, resources and collaborarve opportunires of the university enterprise. Q&A 2

3 Accelera8ng Financial Self- sufficiency Long- term goal of establishing financial self- sufficiency. ParRcularly acute for business schools at larger, public research universires such as the University of California and University of Alabama, in which state funding is unpredictable and declining. Our long- term financial sustainability plans charts a course to grow revenue while slowly returning state funding to central campus to fund other units and research. In return, we will ask for greater autonomy on faculty and staff salaries and greater operaronal flexibility, which will give us even more freedom for entrepreneurial inirarves and programs How? Diversify our revenue por^olio. 3

4 Launching New Revenue- genera8ng Programs Delivery of graduate management educaron is becoming increasingly specialized and fragmented (e.g. online, shorter degrees, non- MBA). We are launching new degree programs to meet demand in specific fields, informed by market research and opportunity for growth. We need to deliver these types of high- quality programs more efficiently and innovarvely than our larger compertors. Nine- month Master of Professional Accountancy degree program launched autumn Meets new state requirement for addironal year of higher educaron to qualify for CPA exam. Charter class of 29, second was 39 and goal of 50 this year. AcRvely considering two more nine- month degree programs: Master of Business AnalyRcs and Master of Finance. 4

5 Toward Financial Self- sufficiency: Execu8ve Educa8on Custom and niche execu8ve educa8on programs. Tailored programs for major corporarons and agencies including Genentech, birthplace of biotech, and CalPERS, naron s largest public pension fund. Expanding into energy, risk management and other areas. Agribusiness in China: First Global CEO Entrepreneur Agribusiness Symposium in Shanghai in November, drawing on UC Davis and internaronal experrse. More than 80 food and agribusiness entrepreneurs. Partnering with the CHIC Group. More sessions planned. Open Enrollment Wine industry: UC Davis Wine ExecuRve Program (4- day) and Wine Packaging (2- day) Strategy Program. Since 2000, partnership with world- leading Department of ViRculture and Enology. Proximity to Napa Valley. 5

6 Staying Ahead of the Curve: MBA Curricular Innova8ons We are commiied to conrnuous improvement and innovaron in our MBA curriculum. Associate Dean regularly interviews corporate recruiters to ensure course offerings are responsive to company needs. Our new MBA curriculum further integrates globalizaron, responsible business ethics and sustainability. Anchored by IMPACT, a new, two- part capstone course. IMP = Integrated Management Projects. 20- week team projects for sponsor companies ranging from Fortune 50 firms to ultra- fast- paced Silicon Valley start- ups. ACT = ArRculaRon and CriRcal Thinking core course. 6

7 Strategic Loca8ons across Northern California As the market for management educaron changes, we must stay agile and responsive to students and employers. We must build and maintain sustainable comperrve advantages in each of our academic programs, including locaron, price, format, market niche and differenrarng factors: Full- Time MBA at UC Davis main campus Master of Professional Accountancy at UC Davis main campus Part- Rme MBA in Sacramento (state capital) Part- Rme MBA in San Francisco Bay Area (San Ramon) 7

8 Strategic Loca8ons across Northern California 8

9 Big, Ultra- compe88ve SF Bay Area MBA Market Combined Bay Area region is home to more than 7.1 million people, the 6 th largest DMA in the U.S. With a GDP of $535 billion, the Bay Area ranks 19 th in the world when compared to naronal economies. One of the two most highly educated workforces in the naron. Silicon Valley is especially affluent, professionals in the tech and engineering industries have been seeing big boosts in their average annual incomes since 2008 and have recently crossed the $100,000 mark. At $74,815, the Bay Area has the highest GDP per capita in the United States and ranks ahead of London ($56,997) and Singapore ($43,867). High- tech industry dominates the market but there is a wide variety of sectors, including health care, energy, finance, tourism and government.

10 Major San Francisco Bay Area MBA Compe8tors A: Babson B: Cal State East Bay, Hayward C: Cal State East Bay, Oakland D: Cal State East Bay, San Ramon E: Presidio/AIU F: Saint Mary's, Moraga G: Saint Mary's, San Ramon H: Saint Mary's, Santa Clara I: SF State University J: San Jose State K: Santa Clara L: UC Berkeley EWMBA (Berkeley Campus) M: UC Berkeley EWMBA (Santa Clara Campus) O: UC Davis Bay Area MBA P: USF, Presidio Q: USF, San Francisco R: Wharton West More than 30 total MBA programs

11 Ultra- compe88ve SF Bay Area MBA Market UC Davis Bay Area MBA AdmiQed Students Employment Loca8ons ( ) Consistently successful at airacrng high- caliber students from across the 9 county area. Leveraging GSM and UC Davis campus alumni base in Bay Area. Increasing our visibility and Res to the business community of the world s innovaron hub. 11

12 Be the Catalyst on Campus Leverage the strengths, resources and collaborarve opportunires of the university and surrounding region. Fill the white space in between disciplines and disparate units to create the networks that add value and help bring research to market or provide business experrse where needed. 12

13 Entrepreneurship Academies: Bring researchers at UC Davis and globally together with mentors and investors to explore lab- to- market paths for their discoveries. Business Development Cer8ficate: Year- long program for graduate students and post- docs to learn to grow new business ventures. Big Bang Business Compe88on: Teams of entrepreneurs compete for seed cash to fund their start- ups. Record 66 entries this year. Ignite Conference: InnovaRve MBA students learn from successful entrepreneurs and VCs in Silicon Valley and regionally. Angels on Campus: Mentoring program for students and faculty to receive feedback on their ventures from angel investors. 13

14 Child Family Ins8tute: Impact by the Numbers 1,000+ alumni from all programs. 75 Business Development Fellows. 50+ companies launched or supported. 22 Entrepreneurship Academies. $90 million in funding raised from affiliated start- ups. Enabled by what I learned at UC Davis, I felt I could conquer the world. - - John Bissell, Alumnus Green Technology Entrepreneurship Academy CEO, Micromidas 14

15 Be the Catalyst on Campus Financial sustainability shiving from grant to philanthropic endowment. UC Davis ranked No.1 worldwide in agriculture. Sustainable AgTech Innova8on Center: We established the center with a $1 million i6 Challenge Grant from the U.S. Economic Development AdministraRon. CollaboraRon with the region s leading nonprofit devoted to tech commercializaron. Workshops, seed funding, networks to support the commercializaron agricultural science and technology. 15

16 Our Recent Accomplishments Raised the largest giv ever from a UC Davis alum: $10 million. In 2011, reached highest ranking of full- Rme MBA program: No. 28 (USN&WR) in U.S. Fastest rising b- school in that year. 19 consecurve years in top 10% U. S. MBA programs. No. 40 currently (USN&WR). Fastest rising b- school in U.S. based on alumni ROI (Forbes, 2013). Two years in a row, part- Rme MBA ranked No. 19. Now at No. 25 (USN&WR). No. 1 in the world in OrganizaRonal Behavior (Financial Times, 2007). No. 6 in the world in faculty quality (The Economist, 2011). No. 13 worldwide in faculty research producrvity (Financial Times, 2014) was highest GMAT score in our history; 2012 was highest salary. Completed a $25 million fundraising campaign in January

17 Thank you. Your Ques8ons 17