Annual Report Accredited Member

International Assembly for Collegiate Business Education Annual Report Accredited Member Institution: Maharishi University of Management Academic Business Unit: Business Administration Department Academic Year: 2013-2014 International Assembly for Collegiate Business Education 11374 Strang Line Road Lenexa, Kansas 66215 USA

IACBE ANNUAL REPORT For Academic Year: 2013-14 This annual report should be completed for your academic business unit and submitted to the IACBE by November 1 of each year. General Information Institution s Name: Institution s Address: Maharishi University of Management 1000 N. 4th St. City and State or Country: Fairfield, IA Zip or Postal Code 52557 Name of Submitter: Title: Your Email Address: Scott Herriott Professor and Co-Chair of Business Administration Department herriott@mum.edu Telephone (with country code if outside of the United States): 1-641-472-1113 Type of Institution: X Public Private Nonprofit Private For-Profit Date of Submission: October 29, 2014 Total Headcount Enrollment of the Institution for 2013-14: 1554 Administrative Information 1. Provide the following information pertaining to the current president/chief executive officer of your institution: Name: Title: Highest Earned Degree: Bevan Morris Telephone (with country code if outside of the United States): 641-472-8194 President of Maharishi University of Management Doctor of the Science of Creative Intelligence Email: president@mum.edu 2. Provide the following information pertaining to the current chief academic officer of your institution: Name: Title: Check here if this represents a change from the previous year. Cathy Gorini Dean of Faculty Fax (with country code if outside of the United States): Highest Earned Degree: Ph.D. Email: cgorini@mum.edu Telephone (with country code if outside of the United States): 641-472-1107 Check here if this represents a change from the previous year. Fax (with country code if outside of the United States): IACBE Annual Report: 2013-14 1

3. Provide the following information pertaining to the current head of your academic business unit: Name: Title: Victoria Alexander Herriott Co-chair and Associate Professor of the Business Administration Department Highest Earned Degree: LL.M. Email: vkalexand@gmail.com Telephone (with country code if outside of the United States): 641-472-1113 Fax (with country code if outside of the United States): 641-472-1191 Check here if this represents a change from the previous year. 4. Provide the following information pertaining to your current primary representative to the IACBE, i.e., the person who is your primary contact for the IACBE and who votes on behalf of the academic business unit on IACBE matters (if not the same as the head of the academic business unit): Name: Title: Victoria Alexander Herriott Associate Professor and Co-chair of the Department of Business Administration Highest Earned Degree: LL.M. Email: vkalexand@gmail.com Telephone (with country code if outside of the United States): 641-472-1113 Fax (with country code if outside of the United States): Check here if this represents a change from the previous year. 5. Provide the following information pertaining to your current alternate representative to the IACBE: Name: Title: Scott Herriott Professor & Co-Chair of the Department of Business Administration Highest Earned Degree: Ph.D. Email: herriott@mum.edu Telephone (with country code if outside of the United States): 641-472-1113 Fax (with country code if outside of the United States): Check here if this represents a change from the previous year. IACBE Annual Report: 2013-14 2

Accreditation Information 1. If applicable, when is your next institutional accreditation site visit? 2019 Year 2. When is your next reaffirmation of IACBE accreditation site visit? 2018 Year 3. Provide the website path to the page containing your public notification of accreditation by the IACBE: (Note: Do not provide URL addresses. Beginning with the institution s home page, describe the link on each page in the path on which someone would click in order to advance to the next page in the path. For example: 1. Click on Academics 2. Click on School of Business 3. Click on IACBE Accreditation etc.) 1. Type mum.edu 2. Click on Academics 3. Click on Business 4. Click on About Us 5. Click on Accreditation 6. 7. 8. 9. 10. 4. Provide the website path to the page containing your public disclosure of student learning results: (Note: Do not provide URL addresses. Beginning with the institution s home page, describe the link on each page in the path on which someone would click in order to advance to the next page in the path. For example: 1. Click on Academics 2. Click on School of Business 3. Click on IACBE Accreditation etc.) 1. Type mum.edu 2. Click on Academics 3. Click on Business 4. Click on About Us 5. Click on Accreditation 6. Click on annual assessment report 7. 8. 9. 10. IACBE Annual Report: 2013-14 3

5. If your accreditation letter from the IACBE Board of Commissioners contained notes that identified issues that needed to be addressed, please list the number of the IACBE s Accreditation Principle for each note in the table below. Indicate whether action has already been taken or that you have made plans to do so. (Insert additional rows as necessary.) Commissioners Notes Action Already Taken Action Planned A 2011 note on Principle 3.6. Satisfied by our 2011 annual report. IACBE Annual Report: 2013-14 4

Programmatic Information 1. For each of your IACBE-accredited business programs, provide the total headcount enrollment and the number of degrees conferred in the program (including each major, concentration, specialization, emphasis, option, or track) for 2013-14 (insert rows in the table as needed): Program Enrollment 2013-14 Number of Degrees Conferred 2013-14 Doctor of Philosophy in Management 9 0 Postgraduate Certificate in Lean Accounting 6 0 MBA Standard (Daytime) 31 20 MBA Standard (Evening-Weekend/Online) 15 4 MBA Standard (Distance Education, Neotel) 30 12 MBA for Accounting Professionals 122 37 Bachelor of Arts in Business 33 5 Bachelor of Arts in Business (Online) 110 27 Totals for All Programs Combined (In the totals, please do not double-count students who pursued multiple programs during the reporting year, e.g., students who double-majored in both accounting and finance.) 356 105 2. Do you offer any of your IACBE-accredited business programs outside of your home country? No. X Yes. If yes, please identify the programs and countries in the table below. In addition, if the programs are delivered in partnership with other institutions, please identify those institutions as well. (Insert rows in the table as needed.) Program Country or Countries Partner Institution(s) BA in Business Administration, Distance Education South Africa Maharishi Invincibility Institute 3. Did you terminate any IACBE-accredited business programs during the reporting year? X No. Yes. If yes, please identify the terminated programs in the table below and provide a brief description of your termination plan (e.g., plan for teaching-out the program, when last graduates are expected, etc.). (Insert rows in the table as needed.) IACBE Annual Report: 2013-14 5

Terminated Programs Termination Plan 4. Were changes made in any of your IACBE-accredited business programs during the reporting year? (Note: You do not have to identify course-level changes, e.g., changes in course names, course coding, course numbering, course content, etc.; identify only program-level changes, e.g., changes in program names, program curricula, etc.) No. X Yes. If yes, please identify the changes on a separate page at the end of this report. 5. Were any new business programs (including new majors, concentrations, specializations, emphases, options, and/or tracks) established during the reporting year? X No. Yes. If yes, please identify the new programs and the locations at which they are offered in the table below. (Insert rows in the table as needed.) Please also describe the curricular requirements for the programs on a separate page at the end of this report, and answer item 6 below. New Programs Locations Note: Any new programs (including new majors, concentrations, specializations, emphases, options, and/or tracks) cannot be listed, identified, or advertised as being accredited by the IACBE until they have undergone an accreditation review and have been granted accreditation by the Board of Commissioners. 6. If applicable, was approval of your institutional accrediting body required for any of the new programs identified in item 5 above? No. Yes. If yes, please attach a copy of the material that you sent to your institutional accrediting body. 7. Did you establish any new locations/instructional sites during the reporting year? X No. Yes. If yes, please identify the new locations/instructional sites and the IACBE-accredited programs offered at those locations/sites in the table below. Please also indicate whether you anticipate that any of the locations/sites will account for 25% or more of the total student credit hours (or contact hours as applicable) in business. (Insert rows in the table as needed.) IACBE Annual Report: 2013-14 6

New Locations/Instructional Sites Programs Offered 25% or More of Total SCH? 8. If applicable, was approval of your institutional accrediting body required for any of the new locations/instructional sites identified in item 7 above? X No. Yes. If yes, please attach a copy of the material that you sent to your institutional accrediting body. IACBE Annual Report: 2013-14 7

Outcomes Assessment 1. Do you offer any majors, concentrations, specializations, emphases, options, or tracks as part of your business programs? X Yes. If yes, proceed to item 2 below. No. If no, proceed to item 4 below. 2. Do your majors, concentrations, specializations, emphases, options, or tracks appear on students transcripts, diplomas, diploma supplements, or other official records of program completion? X Yes. If yes, proceed to item 3 below. No. If no, proceed to item 4 below. 3. Does your current outcomes assessment plan include student learning assessment information for all majors, concentrations, specializations, emphases, options, and tracks contained within your business programs? X Yes. If yes, proceed to item 4 below. No. If no, please submit a revised outcomes assessment plan with your annual report that addresses student learning assessment for all majors, concentrations, specializations, emphases, options, and tracks comprising any portion of your business programs. Information about this requirement can be found on the IACBE website at the following address: www.iacbe.org/oa-key-areas.asp. 4. Is the outcomes assessment plan that you submitted to the IACBE still current or have you made changes? The outcomes assessment plan that we have previously submitted is still current. Changes have been made and the revised plan is attached. X We have made changes, and the revised plan will be sent to the IACBE by: December 20, 2014 5. Complete the Outcomes Assessment Results form below and include it with this annual report to the IACBE. Note: Section II of the form (Operational Assessment) needs to be completed only if you received first-time accreditation or reaffirmation of accreditation after January 1, 2011. An example of a completed form can be found in a separate document that is available for download on the IACBE s website at: www.iacbe.org/accreditation-documents.asp. Section I (Student Learning Assessment) of the Outcomes Assessment Results form must be completed for each business program that is accredited by the IACBE (i.e., a separate table must be provided for each program). Add tables, and insert or delete rows in the tables as needed in order to accommodate the number of your (i) business programs, (ii) majors, concentrations, specializations, emphases, options, or tracks in the programs, (iii) intended student learning outcomes, and (iv) intended operational outcomes. In the sections of the assessment results tables entitled Summary of Achievement of Intended Student Learning Outcomes and Summary of Achievement of Intended Operational IACBE Annual Report: 2013-14 8

Outcomes, do not add or delete columns. Space is provided in these sections for four direct measures of student learning, four indirect measures of student learning, and eight operational assessment measures/methods. If you are employing fewer than this number of assessment instruments, simply leave cells in the unused columns blank. If you are employing more than this number of instruments, you will need to create additional summary-of-achievement tables to report your assessment information. Delete rows in the assessment results tables that do not apply to your academic business unit (e.g., if the business unit does not offer any majors, concentrations, specializations, emphases, options, or tracks in its programs, then delete those rows in the tables). In the sections of the assessment results tables entitled Summary of Achievement of Intended Student Learning Outcomes and Summary of Achievement of Intended Operational Outcomes, enter Met in a given cell of the table if the performance target for the instrument in that column was achieved for the intended outcome in that row; Not Met if the performance target for the instrument in that column was not achieved for the intended outcome in that row; or N/A (Not Assessed) if the instrument in that column does not measure the intended outcome in that row. Student learning performance targets/criteria are the measurable objectives associated with the assessment instruments and rubrics used by the academic business unit in determining whether the intended student learning outcomes have been achieved. For example, if the academic business unit is using a comprehensive project in a capstone course as a direct measure of student learning, then a performance target might be that, on the project evaluation rubric, at least 80% of the students will be rated at the highest level (e.g., proficient, exemplary, etc.) on each learning-outcome-related project evaluation criterion. Operational performance targets/criteria are the measurable objectives associated with the assessment instruments used by the academic business unit in determining whether the intended operational outcomes have been achieved. For example, if the academic business unit has identified an operational outcome pertaining to faculty teaching and is using a senior exit survey as a measure of this outcome, then a performance target might be that 90% of the students will be either satisfied or highly satisfied with various aspects of faculty teaching as identified by relevant items in the survey form. Your student learning assessment results tables need to include two or more direct measures of student learning and two or more indirect measures of student learning for each IACBE-accredited program. These measures must be used at the program level. At the bottom of each assessment results table, space is provided to identify changes and improvements that you plan to make as a result of your assessment activity. Italicized entries in the form represent areas where the academic business unit should insert its own assessment information. IACBE Annual Report: 2013-14 9

Other Issues Briefly comment on other issues pertaining to your academic business unit that you would like to share with the IACBE. None. IACBE Annual Report: 2013-14 10

Outcomes Assessment Results For Academic Year: 2013-14 Section I: Student Learning Assessment Department of Business Administration Student Learning Assessment for Bachelor of Arts in Business Administration General Program Intended Student Learning Outcomes (General Program ISLOs) A1. Students should demonstrate effective analytic problem solving using the knowledge of business functions (marketing, accounting, finance, operations, management) A2. Students should develop synthetic thinking: clarity and precision in problem formulation and creativity in identifying options for decision. B1. Students should demonstrate effective presentation skills, both written and oral. B2 Students should demonstrate critical thinking and reasoning, including the use of logic and evidence. B3 Students should demonstrate effective research skills (information literacy). C1 Students should develop the qualities associated with enlightenment: inner peace, alertness, creative intelligence, spiritual experience, balance of heart and mind, ethical awareness and behavior. C2 Students should develop clarity about their personal strengths and career goals. Intended Student Learning Outcomes: Major, Concentration, Specialization, Emphasis, Option, or Track in Area 1 ISLOs 1. There is only one track in the B.A. program Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. Written business plan 75% of the students will demonstrate an average performance at the B level ( Good ) or higher on each of the ISLOs measured by the written business General Program ISLOs Assessed by this Measure: A1, A2, B1, B2, B3 plan. 2. Fast Pitch oral presentation 80% of the students will demonstrate an average performance at the B level General Program ISLOs Assessed by this Measure: A1, B1, B2, C1, ( Good ) or higher across the 5 components of the evaluation rubric for the C2 oral presentation. IACBE Annual Report: 2013-14 11

Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. Placement statistics At the time of graduation, 90% of graduating students should have a plan for General Program ISLOs Assessed by this Measure: C1, C2 work or further study, and 70% should be have a specific engagement (job or job offer) for employment or study. 2. Survey of graduating students 90% of current graduates should rate the program as Useful or better in General Program ISLOs Assessed by this Measure: A1, A2, B1, B2, developing at least 5 of the 7 ILSOs of the program. B3, C1, C2. Assessment Results: Program 1 with a Major, Concentration, Specialization, Emphasis, Option, or Track in Area 1 Summary of Results from Implementing Measures of Student Learning: 1. 5 students submitted written business plans in MGT 432 this year at the home campus. Of these, only 3 (60%) received an average rating of B or higher. The component scores suggest that 2 students were consistently poor. The table below shows a count of students component scores at B or higher. A1. Marketing Plan 3 (60%) A1. HR and Ops Plan 3 (60%) A1. Financial Plan 3 (60%) A2. Business Concept (creativity) 3 (60%) B1. English and Form 3 (60%) B2. Critical thinking (Industry Analysis) 3 (60%) B3. Research (info literacy) not recorded Overall grade 3 (60%) 2. 5 students gave Fast Pitch presentations in MGT 432 this year. Of these, only 3 (60%) an average rating of B or higher. The component scores suggest that 2 students were consistently poor. The table below shows a count of students component scores at B or higher. B1. Written Communication Skills 3 (60%) B2. Critical Thinking and Reasoning 3 (60%) C1. Holistic development development of consciousness 3 (60%) C2. Clarity about Personal Strengths and Career Goals 3 (60%) Summary of Results from Implementing Measures of Student Learning: 1. 5 students graduated with the BA in Business this year. Of these, 4 (80%) had specific opportunities for work or further education. 2. All 5 graduating students rated the BA program Useful or better on all 5 ISLOs of the program. Summary of Achievement of Intended Student Learning Outcomes: Intended Student Learning Outcomes Learning Assessment Measures IACBE Annual Report: 2013-14 12

General Program ISLOs Measure 1 Measure 2 Measure 3 Measure 4 Measure 1 Measure 2 A1. analytic problem solving Not Met MET A2. synthetic thinking Not Met Not Met MET B1. presentation skills Not Met Not Met B2 critical thinking and reasoning Not Met Not Met MET B3 information literacy MET C1 C2 Enlightenment (personal development) personal strengths and career goals MET Not Met MET Not Met Not Met MET Proposed Courses of Action for Improvement in Learning Outcomes for which Targets Were Not Met: Measure 3 Measure 4 1. Modification of the Capstone Experience. Although it is very encouraging that all of the students felt that the Business Plan project helped them apply or learn what they studied in their business courses, only 1 out of 5 students taking Entrepreneurship Project reported that it was very likely that he would implement his business plan, and another 1 said it was possible. The two students who did poorly showed a distinct lack of interest in the business plan as a capstone experience. We will experiment next year with using a business simulation as an integrative experience in the capstone course. 2. Admission and Academic Advising. Compared to last year, this year s business plans showed lower quality in 2 of the 5 business plans submitted. This is not a reflection on the quality of courses taught but a direct result of the quality of students enrolled in this course. On the one hand, we had a student who wanted to get away with minimum of work and on the other hand we had a student who wanted to do well but did not have the necessary skills. As mentioned earlier, the student had been given a waiver for courses she had completed in China. Consequently, this student mentioned to me several times that she felt inadequate in her knowledge. We have to be more careful in evaluating the competence of our students when they have taken courses elsewhere. Additionally, English writing skills was another area of concern with the two international students in this class. One of the two students was organized. She finished all her work on the various sections of the project ahead of time and was able to get help with her English writing. This was not the case with the second student who was struggling with remembering concepts, and filling the business plan template for the first time. She had difficulty completing her project on time let alone getting help with her writing. IACBE Annual Report: 2013-14 13

Outcomes Assessment Results For Academic Year: 2013-14 Section I: Student Learning Assessment Department of Business Administration Student Learning Assessment for Master of Business Administration General Program Intended Student Learning Outcomes (General Program ISLOs) G1. Communication skills (writing, speaking, presentation using technology) G2. Research skills (information literacy) G3. Leadership and Teamwork skills G4. Personal Development (time management, health, happiness, clarity on personal strengths and career goals) G5. Professional Advancement (movement toward career goals) A1. Demonstrate a knowledge of general management A2. Demonstrate a working knowledge of US accounting principles Intended Student Learning Outcomes: Accounting Professionals MBA Track A3. Demonstrate a knowledge of US business culture and the ability to work effectively in the US (job readiness) Intended Student Learning Outcomes: Standard MBA Track S1. Exhibit knowledge of the concepts and analytic techniques used in one s area of specialization S2. Effectively interact with a client in the process of a consulting assignment S3. Design an implementation plan for the recommendations from a consulting assignment Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. Consulting Project Report (alt., Business Practicum Report) 1-All. For each relevant ISLO, the Consulting Project Report (or the Business Practicum Report) should indicate that students on average achieved a General Program ISLOs Assessed by this Measure: G1, G2, G3, G4 Good rating on their performance (3.0 grade points or higher) Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: A1, A2, A3, S1, S3 IACBE Annual Report: 2013-14 14

2. Consulting Project Client s Evaluation General Program ISLOs Assessed by this Measure: none Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: S2, S3 2-S2, S3. The Client Surveys should indicate that students on average achieved a Good rating on their performance (3.0 grade points or higher) 3. Foundation Simulation report and results 3a-All. For each relevant ISLO, the Foundation Simulation Report should General Program ISLOs Assessed by this Measure: G1, G2, G3, G4 indicate that students on average achieved a Good rating on their performance (3.0 grade points or higher) Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: A1 3b-All. When compared to other teams nationally, the MUM MBA students as a group should perform above average. 4. Mock Job Interview 4-All. For each relevant ISLO, the Mock Job Interview should indicate that General Program ISLOs Assessed by this Measure: G1, G4 students on average achieved a Good rating on their performance (3.0 grade points or higher) Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: A1, A3 5. Professional Examination results 5-A2 & G5. At graduation, at least 50% of the Accounting Professionals General Program ISLOs Assessed by this Measure: G5 students should have passed at least 1 part of the CPA or CMA exam. Major, Concentration, Specialization, Track ISLOs A2 Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. End of On-campus Study Student Survey (AccMBA only) For each ISLO in the General MBA objectives, the survey should indicate General Program ISLOs Assessed by this Measure: G2, G4 that at least 80% of the students found the program Useful or better in the student s development on that objective. Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: none 2. End-of-Program Student Survey For each ISLO in the General MBA objectives and the Track objectives, the General Program ISLOs Assessed by this Measure: G1-G4 survey should indicate that at least 80% of the students found the program Useful or better in the student s development on that objectives Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: A2, A3, S1. 3. Job Placement 4a. In the Accounting Professionals MBA program, at least 50% of students General Program ISLOs Assessed by this Measure: G5 leaving campus for CPT should find a job within 90 days, or at least 80% of students leaving campus should find a job within 180 days. Major, Concentration, Specialization, Emphasis, Option, Track ISLOs Assessed by this Measure: A2, A3, S1 4b. In the Standard MBA program, at least 50% of graduating students should have specific plans (a job offer, internship, realistic entrepreneurial IACBE Annual Report: 2013-14 15

venture, or further education) Assessment Results: MBA for Accounting Professionals Summary of Results from Implementing Measures of Student Learning: 1. Business Practicum Report G1. Communication. The Business Practicum Reports submitted by the AccMBA students had an average grade of 3.2 (on a 4-point gpa scale) for their written English. A1. General management. The Business Practicum Reports submitted by the AccMBA students had an average grade of 3.12 (on a 4-point gpa scale) for their description of the context of the problem. A2. US accounting. The Business Practicum Reports submitted by the AccMBA students had an average grade of 3.16 for their use of appropriate concepts in the solution of the problem and 3.35 in their use of appropriate analytic techniques. A3. US business practices and culture. The Business Practicum Reports submitted by the AccMBA students had an average grade of 3.25 for their report of results from their solution of the problem. 2. Consulting Project Client Surveys Not used for the Accounting Professionals Program. 3. Foundation Simulation Reports G1. Communication The oral presentations of each team s experiences and results in the Foundation Simulation showed that 7 of the 8 teams (87.5%) received scores of B or better on the presentation of their work. On the written reports about the simulation, 8 of the 8 teams scored B or better. G2. Research. Seven of the eight teams (87.5%) scored B or better in their use and analysis of data from the simulation. G3. Leadership and Teamwork. Data for students analysis of the organization and dynamics of their team were not scored this year, but in an end of course feedback session, a significant number of students acknowledged that their team skills in collaboration and consensus-building had grown significantly. G4. Personal development. The written reports required students to acknowledge their mistakes and their lessons learned. These are graded by the faculty on their completeness and on the quality of their analysis. Six of the 8 team reports addressed this issue and were graded B or better on this dimension. The other two teams forgot to address this issue as thoroughly as we expected. A1. General management knowledge. The written reports revealed students ability to identify key performance indicators for their firm, describe the team s strategy and tactics, their identification and analysis of data, and their interpretations of their results. All (100%) of the reports demonstrated this ability at the level of B or better. 4. Mock Job Interview. Ten AccMBA students took the Mock Interviews in July 2013, and six took them in March 2014. Four interviewers evaluated them on 8 attributes using a grade-point scale. G1. Communication (2 items) Students had an average grade of 3.3 on the elevator pitch and quality of speech. G4. Personal development. Students had an average grade of 3.55 on speaking with confidence. A1. General management. Students had an average grade of 3.35 in their ability to express a case study in STAR format. IACBE Annual Report: 2013-14 16

A3. US business practices. Four items in the Mock Interview Evaluation Rubric address US business practices: the greeting, appearance, the close and questions asked of the interviewer. Students averaged 3.7 (very good) on greeting and appearance. They averaged 2.8 (below good ) on the close and questions. 5. Professional Exam Results G5. Professional advancement. For the 10 respondents among the 18 Accounting Professional MBAs graduating between December 2013 and May 2014, six (60%) had passed 1 or more parts of the CPA or CMA exam. G5. Professional advancement. Of the 17 student who finished their on-campus study in 2013-14, all 17 (100%) passed the national exam for XBRL certification, which gave them a special advantage in the accounting job market. A2. US accounting. For the 10 respondents among the 18 Accounting Professional MBAs graduating between December 2013 and May 2014, six (60%) had passed 1 or more parts of the CPA or CMA exam. Summary of Results from Implementing Measures of Student Learning: 1. AccMBA End-of-Campus Student Survey. Of the 17 students who finished their on-campus study in the AccMBA program in July 2013 or May 2014, 15 (88%) responded to the end-of-campus-study survey. G1. Communication skills. All (100%) of the respondents reported that the program was Useful or better in helping them develop presentation skills. G2. Research Skills. 93% of the respondents reported that the program was Useful or better in helping them develop research skills. G3. Leadership and teamwork. All (100%) of the AccMBA students leaving campus in 2013-14 felt that group projects in the program had helped them develop teamwork skills. G4. Personal development. Across five dimensions of personal development, 93% of the respondents indicated some improvement in their personal development during the time on campus. Also, all (100%) of the respondents reported that the program was Useful or better in helping them develop clarity about their personal strengths and career goals, and all (100%) reported that the program was Useful or better in helping them with the holistic development of consciousness. 2. End-of-Program Student Survey. The Graduation Survey was sent electronically to Accounting Professionals MBA graduates from December 2013 and May 2014 classes, yielding 10 responses (53%) from the 19 graduates. G1. Communication. The Accounting MBA graduates uniformly (100%) rated their program very effective or better in developing presentation skills. G2. Research. Among the Accounting MBA graduates (100%) rated their program as adequate (50%) or very effective or better (50%) in developing research skills. G3. Leadership and Teamwork. The AccMBA survey did not have a question for this objective. G4. Personal development. In the Accounting MBA 90% rated their program adquate or better in personal development (development of consciousness.) A2. US accounting. The Accounting MBA graduates uniformly (100%) rated their program very effective or better in developing analytic problem solving. IACBE Annual Report: 2013-14 17

A3. US business practices. The Accounting MBA graduates uniformly (100%) rated their program very effective or better in developing their understanding of the US business environment. 3. Job Placement G5. Professional advancement. Of the 17 students in Groups 15 and 16 of the Accounting Professionals MBA that began job search in 2013-14, nine (53%) found employment within 180 days. In the Standard MBA, with 23 of 45 students responding, 31% had specific plans for work at the time of graduation. Summary of Achievement of Intended Student Learning Outcomes: MBA for Accounting Professionals Intended Student Learning Outcomes Learning Assessment Measures General Program ISLOs Measure 1 Measure 2 Measure 3 Measure 4 Measure 5 Measure 1 Measure 2 Measure 3 G1. Communication skills MET MET MET MET G2. Research skills MET MET G3. Leadership and Teamwork skills MET MET G4. Personal Development MET MET MET G5. Professional Advancement MET Not Met Intended Student Learning Outcomes: Accounting Professionals MBA Track Measure 1 Measure 2 Measure 3 Measure 4 Measure 1 Measure 2 Measure 3 Measure 4 A1. General management MET MET A2. US accounting principles MET MET A3. US business culture, job readiness MET MET MET Proposed Courses of Action for Improvement in Learning Outcomes for which Targets Were Not Met: 1. G5. Job Placement. The students in our MBA for Accounting Professionals are all foreign nationals. Their placement in jobs in the USA for curricular practical training continues to be a challenge. We have taken the following actions. (1) We have raised the standards for admission, reducing the size of our intakes by favoring applicants who have a Chartered Accountant certification or similar professional qualification. (2) We added XBRL certification training to our curriculum, which has helped in the placement of several students. (3) We will increase staff time given to advising students on the job search process. IACBE Annual Report: 2013-14 18

Assessment Results: Standard MBA Summary of Results from Implementing Measures of Student Learning: 1. Consulting Project Report G1. Communication. The Consulting Project reports submitted in MGT 509 Business Process Improvement had average grades of A in both written and oral presentation. The Consulting Project reports submitted in MGT 5312 MBA Capstone by sustainable business students had an average grade of 3.39 in written presentation. G2. Research. The Consulting Project reports submitted in MGT 509 Business Process Improvement had an average grade of A in research. The Consulting Project reports submitted in MGT 5312 MBA Capstone by sustainable business students had an average grade of 3.53 in research. G3. Leadership and Teamwork. The peer evaluations submitted by fellow students in MGT 509 Business Process Improvement had an average grade of A for teamwork. There were no peer evaluations in MGT 5312. G4. Personal development. In MGT 509 Business Process Improvement, a supplement to the Consulting Project report asked students to link 3 of the 5 Lean Management principles to specific aspects of personal development. The average grade on these supplements was A. S1. Specialized knowledge. The Consulting Reports submitted by the business process improvement students in MGT 509 had an average score of 3.8 across four measures of content (identifying a process, creating a mapping, measuring performance, and designing process flows). The Consulting Project reports submitted in MGT 5312 MBA Capstone by sustainable business students had an average grade of 3.56 across 4 measures of content knowledge (problem identification, context, concepts, and analysis), of which the lowest was analysis (3.34). S3. Implementation plan. The 8 sustainable business projects in MGT 5312 had an average grade of 3.54 for their implementation component. All grades were at 3.3 or higher. 2. Consulting Project Client Surveys S2. Consulting process.. The Client Surveys evaluating projects in MGT 509 Business Process Improvement gave the students all grades of A+ for effective interaction with the client. S3. Implementation plan. The Client Surveys evaluating projects in MGT 509 Business Process Improvement gave the students an average grade of A for their implementation plans. 3. Foundation Simulation Reports Given only to the Accounting Professionals MBA track. 4. Mock Job Interview Given only to the Accounting Professionals MBA track. Summary of Results from Implementing Measures of Student Learning: Standard MBA 1. AccMBA End-of-Campus Student Survey. Given only to the Accounting Professionals MBA track. 2. End-of-Program Student Survey. The Graduation Survey was sent electronically to the 45 Standard MBA graduates yielding 24 responses (53%). G1. Communication. 80% reported that their MBA program was Useful or better in helping develop communication skills. IACBE Annual Report: 2013-14 19

G2. Research. 78% of graduates responding said that their MBA program was Useful or better in helping develop research skills. G3. Leadership and Teamwork. 78% of graduates responding said that their MBA program was Useful or better in helping developing leadership and teamwork skills. G4. Personal development. 70% of graduates responding said that their MBA program was Useful or better in helping developing clarity on personal strengths and career goals. S1. Specialized knowledge. 74% of graduates responding said that their MBA program was Useful or better in helping developing analytic problem solving skills using the knowledge of business functions. 3. Job Placement G5. Professional advancement. In the Standard MBA, with 23 of 45 students responding, 31% had specific plans for work at the time of graduation. Summary of Achievement of Intended Student Learning Outcomes: Standard MBA Intended Student Learning Outcomes Learning Assessment Measures General Program ISLOs Measure 1 Measure 2 Measure 3 Measure 4 Measure 5 Measure 1 Measure 2 Measure 3 G1. Communication skills MET MET G2. Research skills MET MET G3. Leadership and Teamwork skills MET MET G4. Personal Development MET Not Met G5. Professional Advancement Not Met Intended Student Learning Outcomes: Standard MBA Measure 1 Measure 2 Measure 3 Measure 4 Measure 1 Measure 2 Measure 3 Measure 4 S1. Specialized knowledge MET Not Met S2. Effective interaction with clients MET S3. Implementation plan for recommendations of consultation MET Proposed Courses of Action for Improvement in Learning Outcomes for which Targets Were Not Met: IACBE Annual Report: 2013-14 20

1. G5. Job Placement. We will work more closely with MBA students in their final semester of study to help them find opportunities for jobs, internships, or entrepreneurial activities. 2. G4. Personal Development. Related to the point above, if we help students get greater clarity on their personal strengths and career goals through career counseling, their perception of personal development during the MBA will improve. IACBE Annual Report: 2013-14 21

Outcomes Assessment Results For Academic Year: 2013-14 Section I: Student Learning Assessment G1. Graduates will be able to critique a scholarly research paper. Department of Business Administration Student Learning Assessment for Doctor of Philosophy in Business Administration General Program Intended Student Learning Outcomes (General Program ISLOs) G2. Graduates will be able to define a suitably scoped topic for study and conduct a literature review on that topic. G3. Graduates will be able to work conceptually within the theory of sustainable business and organizational change. G4. Graduates will be able to design and implement a research project that yields results of publishable quality. G5. Graduates will be effective teachers using the principles and practices of Consciousness-Based Education. G6. Graduates will tend to pursue a career in collegiate research or teaching. Intended Student Learning Outcomes: Major, Concentration, Specialization, Emphasis, Option, or Track in Area 1 ISLOs There is only one track in the Ph.D. program. Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. Comprehensive Exam 75% of the students attempting these components of the Comprehensive General Program ISLOs Assessed by this Measure: G1, G2, G3, G5 Exam will receive a passing grade on the component. 2. Dissertation Research 75% of the students presenting a dissertation defense will successfully General Program ISLOs Assessed by this Measure: G1, G2, G3, G4 defend their dissertation, meaning that they can complete minor revisions within one semester of their defense. 3. Teaching Evaluations In 80% of the instances where a PhD student instructs a course, the General Program ISLOs Assessed by this Measure: G5 instructor will be rated Good or better on the Teaching Practicum Evaluation and on the students end-of-course evaluations. 4. Publication Record of Graduates More than half of the graduates of the MUM Ph.D. in Management will IACBE Annual Report: 2013-14 22

General Program ISLOs Assessed by this Measure: G4, G6 publish a peer-reviewed article, chapter, or book within 6 years of graduation. Assessment Instruments for Intended Student Learning Outcomes Measures of Student Learning: Objectives (Targets/Criteria) for Measures: 1. Job Placement 1a. At the time of graduation, all graduates should have an academic job General Program ISLOs Assessed by this Measure: G6 offer or a plan for self-employment as a consultant. 1b. The majority of our graduates in the past 6 years will have a career in collegiate teaching or research. Assessment Results: Ph.D. in Management Summary of Results from Implementing Measures of Student Learning: 1. Comprehensive Exam G1. Research Critique. 5 of 7 students attempted this. All passed. G2. Literature Review. 2 of 7 students attempted this. All passed. G3. Management Theory. 4 of 7 students attempted this. 3 passed (75%), and 1 failed. G5. Teaching Exercise. 5 of 7 students attempted this. 4 passed (80%), and 1 failed. 2. Dissertation Research. No students sought to defend their dissertations this year. 3. Teaching Evaluations. The evaluation of Graduate Instructors teaching will begin in 2014-15. 4. Publication Record of Graduates. Of the 12 graduates in the past 6 years, 3 (25%) have at least one peer-reviewed publication. Summary of Results from Implementing Measures of Student Learning: 1. Job Placement. There were no graduates in 2013-14. Of the 12 graduates since 2009, 5 have full-time university teaching positions, 1 is semiretired an holds an adjunct faculty position, 1 is a university administrator, and 5 are working in business. Summary of Achievement of Intended Student Learning Outcomes: Intended Student Learning Outcomes Learning Assessment Measures General Program ISLOs Measure 1 Measure 2 Measure 3 Measure 4 Measure 1 Measure 2 Measure 3 Measure 4 G1. Critique of a scholarly paper MET n.a. G2. Literature review MET n.a. IACBE Annual Report: 2013-14 23

G3. Theory paper MET n.a. G4. Research projects n.a. Not Met G5. Effectiveness in teaching MET n.a. G6. Career in teaching or research MET Proposed Courses of Action for Improvement in Learning Outcomes for which Targets Were Not Met: 1. Scholarly Activity of Graduates. We need to do more to help our graduates transform their dissertation research, or some extension of it, into publishable papers. Recent graduates Langwell (2013) and Sawhney (2012) each have papers nearly ready for submission, and Sanchez (2010) has good possibilities. Our doctoral faculty can work with these recent graduates to help them get their papers ready and submitted to appropriate outlets. IACBE Annual Report: 2013-14 24

Section II: Operational Assessment (Note: Complete this section only if you received first-time accreditation or reaffirmation of accreditation after January 1, 2011.) Intended Operational Outcomes: 1. Intended Operational Outcome 1 2. Intended Operational Outcome 2 3. Intended Operational Outcome 3 4. Intended Operational Outcome 4 5. Intended Operational Outcome 5 6. Intended Operational Outcome 6 7. Intended Operational Outcome 7 8. Intended Operational Outcome 8 Assessment Measures/Methods for Intended Operational Outcomes: Name of Academic Business Unit Operational Assessment Objectives (Targets/Criteria) for Operational Assessment Measures/Methods: 1. Operational Assessment Measure/Method 1 Objective (Target/Criterion) for Measure/Method 1 Intended Operational Outcomes Assessed by this Measure: Outcomes List 2. Operational Assessment Measure/Method 2 Objective (Target/Criterion) for Measure/Method 2 Intended Operational Outcomes Assessed by this Measure: Outcomes List 3. Operational Assessment Measure/Method 3 Objective (Target/Criterion) for Measure/Method 3 Intended Operational Outcomes Assessed by this Measure: Outcomes List 4. Operational Assessment Measure/Method 4 Objective (Target/Criterion) for Measure/Method 4 Intended Operational Outcomes Assessed by this Measure: Outcomes List IACBE Annual Report: 2013-14 25

5. Operational Assessment Measure/Method 5 Objective (Target/Criterion) for Measure/Method 5 Intended Operational Outcomes Assessed by this Measure: Outcomes List 6. Operational Assessment Measure/Method 6 Objective (Target/Criterion) for Measure/Method 6 Intended Operational Outcomes Assessed by this Measure: Outcomes List 7. Operational Assessment Measure/Method 7 Objective (Target/Criterion) for Measure/Method 7 Intended Operational Outcomes Assessed by this Measure: Outcomes List 8. Operational Assessment Measure/Method 8 Objective (Target/Criterion) for Measure/Method 8 Intended Operational Outcomes Assessed by this Measure: Outcomes List Summary of Results from Implementing Operational Assessment Measures/Methods: 1. Summary of Results for Measure/Method 1 2. Summary of Results for Measure/Method 2 3. Summary of Results for Measure/Method 3 4. Summary of Results for Measure/Method 4 5. Summary of Results for Measure/Method 5 6. Summary of Results for Measure/Method 6 7. Summary of Results for Measure/Method 7 8. Summary of Results for Measure/Method 8 Summary of Achievement of Intended Operational Outcomes: Operational Assessment Measures/Methods Intended Operational Outcomes Operational Assessment Measure/ Method 1 Operational Assessment Measure/ Method 2 Operational Assessment Measure/ Method 3 Operational Assessment Measure/ Method 4 Operational Assessment Measure Method 5 Operational Assessment Measure/ Method 6 Operational Assessment Measure/ Method 7 Operational Assessment Measure/ Method 8 1. Intended Operational Outcome 1 IACBE Annual Report: 2013-14 26

2. Intended Operational Outcome 2 3. Intended Operational Outcome 3 4. Intended Operational Outcome 4 5. Intended Operational Outcome 5 6. Intended Operational Outcome 6 7. Intended Operational Outcome 7 8. Intended Operational Outcome 8 Proposed Courses of Action for Improvement in Operational Outcomes for which Targets Were Not Met: 1. Course of Action 1 2. Course of Action 2 3. Course of Action 3 4. Course of Action 4 IACBE Annual Report: 2013-14 27

Appendix 4. Were changes made in any of your IACBE-accredited business programs during the reporting year? (Note: You do not have to identify course-level changes, e.g., changes in course names, course coding, course numbering, course content, etc.; identify only program-level changes, e.g., changes in program names, program curricula, etc.) No. X Yes. If yes, please identify the changes on a separate page at the end of this report. We reduced the Postgraduate Certificate in Lean Accounting from post-masters to within-masters, so our MBA students could take its courses. 5. Were any new business programs (including new majors, concentrations, specializations, emphases, options, and/or tracks) established during the reporting year? No. X Yes. If yes, please identify the new programs and the locations at which they are offered in the table below. (Insert rows in the table as needed.) Please also describe the curricular requirements for the programs on a separate page at the end of this report, and answer item 6 below. Post-Graduate Certificate in Lean Higher Education Administration This 12-16 credit certificate is available to applicants who have a masters degree in business or a businessrelated subject. IACBE Annual Report: 2013-14