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WSB’s Ishita Chakraborty Named Finalist in Top Marketing Doctoral Comp [#permalink] Madison MBA and Related Blogs   31 Jan 2022, 17:00
FROM Madison(Wisconsin) Admissions Blog: WSB’s Ishita Chakraborty Named Finalist in Top Marketing Doctoral Competitions
Ishita Chakraborty, the Thomas and Charlene Landsberg Smith Faculty Fellow and an assistant professor of marketing at the Wisconsin School of Business, is a finalist in two major competitions for her dissertation, “Three Essays on the Role of Unstructured Data in Marketing Research.”


WSB’s Ishita Chakraborty

Chakraborty placed as a finalist with the American Marketing Association’s annual John A. Howard/AMA Doctoral Award Competition. The competition was open to students who completed  requirements for their doctoral degrees in marketing and consumer behavior-related topics between October 1, 2020, and September 30, 2021. The organization named the winner earlier this month.

Chakraborty is also a finalist for the Academy of Marketing Science’s Mary Kay, Inc. Doctoral Dissertation Award, sponsored by Mary Kay, Inc. and the Academy of Marketing Science (AMS). The competition is open to doctoral candidates in marketing who completed their dissertations between January 1 and December 31 of the calendar year preceding the AMS annual conference. The winner will be announced at this May’s conference.

“Overall, my dissertation illustrates the value of combining ‘engineering thinking’ underlying machine learning approaches with ‘social science thinking’ from econometrics to answer novel marketing questions,” Chakraborty says. “This philosophy still reflects in all my current work. A key takeaway from the first two chapters of my dissertation is that while there is a lot to learn from online word of mouth, there are issues of selection (who writes and why) which need more serious thought and corrections in order to drive precise insights from this noisy data.”

Chakraborty’s research interests include digital marketing, online platforms, text and video analytics, and mobile apps. She earned her bachelor’s degree in computer engineering at the University of Mumbai, her master’s in business administration from the Indian Institute of Management, and her PhD in marketing at the Yale School of Management. Prior to pursuing doctoral work at Yale, she worked in sales, brand management, and consulting with Deloitte, Accenture, and Mondelez International.

Read the paper: “Three Essays on the Role of Unstructured Data in Marketing Research”

The post WSB’s Ishita Chakraborty Named Finalist in Top Marketing Doctoral Competitions appeared first on Wisconsin School of Business.
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The Keys to Tech Product Marketing [#permalink] Madison MBA and Related Blogs   03 Feb 2022, 09:00
FROM Madison(Wisconsin) Admissions Blog: The Keys to Tech Product Marketing
Being a marketing manager in the tech world is a fast-paced role. Like their counterparts in technical product management, tech product marketers need to be flexible, agile, ready to learn, and always looking ahead to what’s next.

Technology is a constantly evolving field and companies traditionally outside of the tech arena are quickly becoming tech-enabled companies. To achieve success in the brutally competitive tech space, marketers need a vision for the future and a strategy that appeals to customers who will be quick to switch brands as the latest innovation hits the market.

So, what is a tech company today?

Manager director of venture capital firm 4490 Ventures Malcolm Thorne (BBA ’94, MS ’96) says the distinction between a tech company and a traditional goods company is quickly evaporating.

In 2022, even blue jeans are a tech-based business.

“Five years ago you made jeans in a factory in China and sold them in stores around the world. Today a computer vision scans a consumer’s body and creates a custom manufacturing specification,” notes Thorne.

“Software and data-enabled robotic manufacturing build a product to order and the product is fulfilled by modern supply chain distribution channels direct to the consumer’s home. The company then stores its customers’ measurements so they can custom manufacture any part of the product line for them going forward.”

The tech product life cycle

In tech, engineering innovations or a new idea that serves an unserved consumer need typically kick off the start of new product development. Marketers then help launch new technology-based applications and solutions to the market.

Tech product marketers often have to develop creative monetizing strategies. As examples, Netflix has a pure subscription model, Hulu has a dual subscription and advertising model, and Amazon Prime allows users to rent and buy individual titles and also subscribe for a slate of programming. All three entertainment companies are competing for our attention, and each monetizes its content differently.

Geoffrey Moore, is often where companies which are losing considerable amounts of money gain market share and start making major sales. It’s also where companies start going out of business.



Working cross-functionally to achieve marketing success

To get their product over the hump at the chasm and have it receive mainstream attention, tech product marketers need to have a very strong pulse on consumer needs and work cross-functionally to deliver them.

Successful tech product marketers are not only well-versed in the four Ps of marketing (product, price, place, and promotion), but have a holistic understanding of supply chain, operations, and finance. They work side-by-side with the research and development team to help launch a product, and gain a critical understanding of how the tech works and how it delights the consumer.

Including the voice of the consumer in your marketing planning is critical to the success of every technology.

Tech product marketers, like product managers, conduct interviews with potential customers and complete need assessments to generate ideas of how to market their products.

Learn more about the Wisconsin Full-Time MBA tech product marketing track

Data is king

Kristin Branch, director of the A.C. Nielsen Center for Marketing Analytics and Insights at the Wisconsin School of Business, believes that marketing professionals going into tech need to understand innovation is the star.

“Innovation leads product adoption,” says Branch. “At the best companies, data is constantly analyzed for indications of success.”

While the use of analytics is skyrocketing in all industries, the amount of data available from a tech product creates unique opportunities for marketers.

Part 1, an overview of the business of tech, and Part 2 on tech product management.

Learn more about earning your Wisconsin Full-Time MBA in marketing: Explore tracks in technology product marketing, marketing analytics and insights, and brand and marketing management.

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New Fintech Course Will Prepare WSB Students To Navigate the Digital A [#permalink] Madison MBA and Related Blogs   08 Feb 2022, 15:00
FROM Madison(Wisconsin) Admissions Blog: New Fintech Course Will Prepare WSB Students To Navigate the Digital Asset Marketplace
Come fall, Wisconsin School of Business undergraduate and graduate students from any discipline will be able to take advantage of a new fintech course, “Cryptocurrencies, Blockchain, and Digital Assets,” designed and taught by Brad Chandler, director of WSB’s Nicholas Center for Corporate Finance and Investment Banking.


WSB’s Brad Chandler

Fintech, a merging of “finance” and “technology,” is commonly understood as the use of emerging digital technologies like blockchain and others to streamline financial processes. Fintech is a critical area for finance students as well as students from other fields to understand in preparation for jobs in the financial sector.

“The goal is to create a premier educational offering to quickly get students up to speed on the important, leading-edge innovations in the digital asset space,” Chandler says.

With the world of technology and digital assets changing so rapidly, Chandler saw a need to deepen and expand the fintech curriculum available to WSB students. The three-credit course builds upon a cryptocurrencies course he launched in 2018. Some of the topics Chandler plans to cover include Bitcoin, Ethereum, smart contracts, alternative blockchains, decentralized finance (DeFi), decentralized applications (dApps), Web3, stablecoins, central bank digital currencies (CBDCs), non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs). The course will also give students an understanding of regulatory considerations and the criticisms of blockchain and cryptocurrencies.

“We want to slow down and study the fundamentals of these new technologies and, where possible, get our hands dirty by interacting directly with these new protocols.”

Students will also have the opportunity during the semester to interact with guest speakers, including University of Wisconsin–Madison alumni who are making significant contributions in the digital asset landscape, Chandler says.

Chandler’s expertise on cryptocurrencies and digital assets has helped the campus community understand these new technologies through timely discussions and learning opportunities. In addition to welcoming industry speakers each semester, the Nicholas Center has sponsored its own initiatives including minting its own non-fungible tokens (NFTs), sponsoring lectures from leading companies through the Badger Blockchain student organization, and helping students gain real-world experience by working with companies on blockchain solutions in Chandler’s applied corporate finance course.

The post New Fintech Course Will Prepare WSB Students To Navigate the Digital Asset Marketplace appeared first on Wisconsin School of Business.
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WSB’s Jan Heide Named American Marketing Association Fellow [#permalink] Madison MBA and Related Blogs   21 Feb 2022, 10:00
FROM Madison(Wisconsin) Admissions Blog: WSB’s Jan Heide Named American Marketing Association Fellow
Jan Heide (MBA ’82, PhD ‘87), the Michael E. Lehman Distinguished Chair in Business and a professor of marketing at the Wisconsin School of Business, has been designated a 2022 American Marketing Association Fellow by the American Marketing Association (AMA).


WSB’s Jan Heide

Fellows are AMA members who have made “significant contributions to the research, theory, and practice of marketing, and/or to the service and activities of the AMA over a prolonged period of time.”

A nomination letter signed by 19 AMA members, including Louis W. Stern, John D. Gray Distinguished Professor Emeritus of Marketing, Northwestern University, detailed Heide’s exceptional impact on the field of marketing.

“Professor Heide’s tremendous influence spans three decades during which he has pushed the boundaries of marketing thought with innovative work that has defined and sustained research on B2B and interorganizational marketing relationships. The undersigned marvel at Professor Heide’s theoretical savvy and his uncanny ability to identify, conceptualize, and deliver creative and path-breaking insights on important interfirm topics in marketing.”

The letter named Heide as “one of the most influential marketing theorists and is the most important theorist in the domain of interorganizational relationships and governance over the past 30 years. We consider Professor Heide the intellectual successor to Louis W. Stern (2015 AMA Fellow) in terms of thought leadership on numerous important interorganizational topics. Professor Heide’s key contributions include theory development, continuous innovation, impact, and relevance.”

Heide’s research avenues include interfirm relationships, marketing channels, B2B marketing, and marketing organization. His work crosses disciplines such as management, organization theory, operations research, and economics. The nomination committee stated that “as a scholar, Professor Heide continually pushes the boundaries of interorganizational relationship thought by integrating emerging trends and challenging deep-rooted assumptions and beliefs.”

A 2003 AMA study ranked Heide as the third most influential marketing scholar based on citations. Heide’s work has been cited by Nobel Laureate Oliver E. Williamson and has earned more than 26,000 Google Scholar citations, with his highly impactful papers garnering him an h-index of 33, a metric that calculates productivity and impact.

“To be named an AMA Fellow is the highest achievement recognition an academic can receive in the discipline of marketing,” says WSB’s Jack Nevin, professor emeritus and chair of the School’s Department of Marketing. “Jan is being recognized as the most important theorist in the domain of interorganizational relationships and governance over the past 30 years. The marketing department has been blessed to have him as a faculty member and mentor for both faculty and students over this entire time period.”

Heide is the recipient of numerous awards including the Lifetime Achievement Award from the AMA’s Interorganizational Special Interest Group, three Louis W. Stern Awards for outstanding and significant contributions to the literature on marketing channels and distribution, and the Harold H. Maynard Award for significant contributions to marketing theory and thought. He has also received WSB’s Erwin A. Gaumnitz Excellence in Research Award, the Erwin A. Gaumnitz Excellence in Teaching Award, and the Erwin A. Gaumnitz Distinguished Faculty Award, as well as the University of Wisconsin–Madison’s Underkofler Excellence in Teaching Award.

Heide was inducted during the AMA’s February conference.

Founded in 1937, the AMA publishes the academic journals Journal of Marketing, Journal of Public Policy & Marketing, Journal of Marketing Research, and Journal of International Marketing.

The post WSB’s Jan Heide Named American Marketing Association Fellow appeared first on Wisconsin School of Business.
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Badger Executive Talk: Kurt Kober’s Passion Is Helping Connect People [#permalink] Madison MBA and Related Blogs   21 Feb 2022, 15:00
FROM Madison(Wisconsin) Admissions Blog: Badger Executive Talk: Kurt Kober’s Passion Is Helping Connect People and Purpose



Kurt Kober (MBA ’07) likes to use the word “magic” when describing a moment that things come together in an organization. But there’s really no trick to how Kober has achieved success; it’s been understanding the key elements to make it work, connecting people to the mission, and then putting in the hard work required.

Kober is vice president of global retail and e-commerce at The Honest Company, a mission-driven consumer goods company that specializes in baby and beauty products. His is a varied career that even includes a run for Wisconsin lieutenant governor, but at the heart of it has been a leadership model based in solid communications and empathy.

“What I’ve found is that democratizing decision-making and empowering the members of the team is richer than anything I’ve experienced in my life,” says Kober, who splits his time between Los Angeles, where his company is based, and his hometown of Sheboygan, Wisconsin.

Kober shared his thoughts on leadership and his career journey during a recent Badger Executive Talk, a virtual speaker series featuring executives from the UW–Madison alumni community. Vallabh “Samba” Sambamurthy, Albert O. Nicholas Dean of the Wisconsin School of Business, led the conversation and fielded questions from alumni.

Kober’s journey is somewhat unique, moving from a well-known company to a growing startup with a political campaign in the middle. After earning his MBA in 2007, he worked at Clorox for 10 years. As he rose in the company, his commitment to his community and Wisconsin remained steadfast and he ran for lieutenant governor in 2017 with an emphasis on education and the economy. He lost in the primary but gained a further understanding of leadership, one in which he sees people not as part of a process but as citizens with their own lives, passions, and interests.

At The Honest Company, Kober is inspired by the opportunity to market to a new kind of consumer—one who is value-driven and searching for a company or products with a greater purpose beyond the brand.

It’s a topic that has been on Kober’s mind for a long time. While pursuing his MBA, Kober took a class called Systems Thinking in Sustainable Business.

“I remember thinking it looked great but it would be a lot of work,” Kober says. “The professor said, ‘It is a lot of work, but it’s worth it.’”

With Dean Sambamurthy, Kober talked about the importance of brand purpose, a better leadership model, and issues affecting the workplace today.

What do you stand for? Eighty percent of consumers today say they are looking for the purpose of any brand or product they buy, Kober says. What does it mean for them, their family, or the world? The Honest Company’s brand is about inspiring consumers to love living consciously and make choices accordingly. That can’t just be a slogan, Kober says. “What you say on the outside better be consistent with what you do inside,” he says. “There aren’t two worlds. It’s all the same.”

Political insights. Kober’s run for office provided valuable experience that has informed his leadership style. He learned how to better connect with people not as part of a process but as citizens who have their own lives, passions, and interests. “It connected the IQ part of my life and experiences back to the EQ [emotional quotient] I have as a person, the feelings and emotions that are part of you,” he says.

Lean heavy vs. lead heavy. An early job in Kober’s career was a family company where decisions rested with one top individual. Leaning in with a team is much harder, he says, but can be more effective. “It’s as much about listening and understanding where people are coming from and then triangulating that with what we need to get done as a company and how we’ll get it done.”

Purpose can be a perk. As a mission-driven organization, The Honest Company has some built-in advantages in a competitive environment for attracting and retaining talent, Kober says. If team members are connected to the mission in their everyday work, it’s a powerful draw. Combine that with flexibility and understanding what is most important to people and a company can draw and retain top talent, Kober says. “It’s that magic combination for every person that you engage with rather than this stamped out version that’s the same for everyone. The old playbook is evolving really quickly.”

The next Badger Executive Talk on April 12 will feature Dorri McWhorter (BBA ’95), president and CEO of YMCA Metropolitan Chicago. The Alumni Events page features more information about the talks and links to view past conversations.

The post Badger Executive Talk: Kurt Kober’s Passion Is Helping Connect People and Purpose appeared first on Wisconsin School of Business.
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Announcing the New Marketing Leadership Institute [#permalink] Madison MBA and Related Blogs   24 Feb 2022, 16:00
FROM Madison(Wisconsin) Admissions Blog: Announcing the New Marketing Leadership Institute
The Wisconsin School of Business is pleased to announce another step forward for its investment in marketing education—creation of the Marketing Leadership Institute. 

Focused primarily on serving the [url=https://business.wisc.edu/graduate/mba/full-time/]Wisconsin Full-Time MBA Program[/url], the #3-ranked marketing MBA in the country (Princeton Review, 2022), the new institute combines knowledge from many corners of the School, bringing diverse marketing expertise together to deliver students with the career-ready skills they need to succeed in today’s cross-functional marketing world. 

The institute merges Wisconsin’s established marketing knowledge centers, the [url=https://business.wisc.edu/centers/ac-nielsen/]A.C. Nielsen Center for Marketing Analytics and Insights[/url] and the [url=https://business.wisc.edu/centers/brand-product/]Center for Brand and Product Management[/url], and adds additional leadership in the area of technology product marketing. Each discipline will have its own hub in the new institute, laying out [url=https://business.wisc.edu/graduate/mba/full-time/specializations/marketing/]three defined marketing paths[/url] for students to follow as they begin their MBAs.

The Marketing Leadership Institute aims to facilitate industry connections, offer expanded experiential learning opportunities, and help all marketing students gain the tools they need in marketing’s wide-ranging career paths. 

WSB looks ahead to growth in the number of MBA marketing students with students having increased flexibility and control over their individual career journeys. 

There will additionally be strong collaboration with corporate partners, giving students the ability to connect with leading companies during their MBAs, focus on their specific goals, and hone agile marketing skills fit for tech, consulting, health care, and CPG industries for companies like Amazon, Intuit, Procter & Gamble, and Adobe. 

[url=https://business.wisc.edu/graduate/masters/business-analytics/]MS in Business Analytics program[/url], which has a dedicated digital marketing track.

The institute will launch in July and a new external advisory board will be established to guide it forward. WSB and the MLI will also host a [url=https://www.wsbmarketingsummit.com/]biennial marketing summit[/url] September 29 and 30, 2022 to bring marketing industry professionals together and facilitate networking and idea-sharing with Wisconsin students, faculty, and staff. 

The post [url=https://business.wisc.edu/news/announcing-the-new-marketing-leadership-institute/]Announcing the New Marketing Leadership Institute[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
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My Brand is Moving Away from Me: When Product Upgrades Leave Consumers [#permalink] Madison MBA and Related Blogs   25 Feb 2022, 10:00
FROM Madison(Wisconsin) Admissions Blog: My Brand is Moving Away from Me: When Product Upgrades Leave Consumers Behind
Product improvements and updates, particularly in the ever-changing world of tech, seem like a win-win for consumers and brands alike: Consumers get the latest and greatest edition of a product, while brands can stay competitive in the marketplace. So why might consumers feel put off when a brand introduces the upgraded version of a product they already own?

As it turns out, those upgrades can leave current owners feeling left behind. That was the experience of Wonsuk Jung, a doctoral student in marketing at WSB, when buying a new road bike. He made this connection between consumers and brand upgrades, which resulted in our joint study that he led. Along with our co-authors Mauricio Palmeira of the University of South Florida and Kyeongheui Kim of Sungkyunkwan University, we found that while product upgrades increased brand preference among prospective consumers that did not yet own the item, they decreased brand preference for those who were current owners. Surprisingly, current consumers reported negative feelings towards the brand based on a perceived sense of emotional distance between themselves and the brand—that the brand was leaving them behind.

But it’s not all bad news for brands. We also found that the distancing effect could be reduced if product owners were given an additional means of connection with the brand, such as through a shared identity or having the owners provide advice to the brand.

Study design

Our study included five different studies, each with a separate product that was strongly associated with a particular brand. Studies one through four examined the release of upgrades against current ownership of a tablet computer, Apple iPhone, digital camera, and Bluetooth speaker, respectively. In all cases, brand preference decreased due to the perceived distance on the part of current owners, a sense of the brand moving away from them.

Going back to that silver lining of the distancing effect mentioned above—that an added connection to the brand can make the consumer feel closer again after feeling left behind by the upgrade—in studies three and four, we manipulated the study design to test this theory. Study three’s product was a camera brand whose name was the same as the university where it was founded as a startup. The camera company was still managed by students from this same university, which fostered a sense of familiarity and kinship. Similarly, in study four, participants were able to give advice to the Bluetooth speaker brand. In both of these studies, this additional connection to the brand essentially “repaired” the relationship: It successfully lessened owners’ sense of being left behind by the brand post-upgrade. They felt closer.

In study five, we used real-world secondary data on car ownership to test whether consumers would be more likely to switch car brands when confronted with newer models of a car they already owned. Our data analysis showed that consumers were indeed more likely to jump brands in this scenario, reinforcing our finding that product upgrades can negatively affect brand preference.

Consumer connection is everything

While research exists on the effects of product upgrades, our study is the first to examine how a consumer’s ownership status of a product—whether a consumer owns a current version of the product or not—can create an unintended effect of distance between the current owner and the brand. Brands can use this data to better understand consumers and product ownership, confident in the knowledge that they can still debut enhanced products without inadvertently pushing away current brand owners.

So, what does this mean specifically for managers? Creating a sense of connection among current consumers is key. Promotions, such as offering exclusive opportunities to existing customers who purchase the new upgrade, is one way to build a reassuring bond. Other ways to reinforce a sense of strong connection include offering trade-ins for current consumers to trade in their product as a partial payment for a newer version (Okada 2001), and managing and utilizing a brand community (Muniz and O’Guinn 2001) that builds loyalty and brand commitment (Keller 2020; Muniz and O’Guinn 2001).

Our study also suggests a spillover effect that may be helpful to brands with multiple product lines: Current consumers unhappy with the upgrades may refrain from buying any other products from that particular brand given their negative experience.

Future research avenues

There is still much to learn about current consumers and brand product upgrades.

The jury is out on whether product upgrades will affect consumer brand preference in the long run. It’s possible that even if current owners are unhappy with the upgrades and disinclined to try another product from the same brand, they may change their tune down the road if they decide the new upgrades actually add value after all.

One area for further research involves better understanding that distance “gap” that occurs between consumer and brand and whether a consumer’s choice to downgrade affects brand preference. Another area might explore what practical reasons are behind a consumer’s resistance to an upgrade. It could be unrelated to the brand itself but connected to the consumer’s personal circumstances, such as a sense of stress or irritation over “money lost” when the product still works well at the time of the new rollout.

Future studies could also explore variables around the consumer’s sense of being shortchanged by an upgrade, such as the strength of the relationship between consumer and product category.

While our analysis focused on the “flagship” product of a brand (such as the iPhone for Apple) in relation to upgrades, future work might explore whether there is a similarly negative consumer response when tested with a brand’s lesser-known or less identifiable product.

Read the paper: “,” (PDF) published in Journal of Marketing Research.

Joann Peck is the Irwin Maier Professor of Business and a professor of marketing in the Department of Marketing at the Wisconsin School of Business.

Wonsuk Jung is a doctoral student in marketing at the Wisconsin School of Business.

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The Business of Beer: Business Badger Brewers Tap In To Trends, Tradit [#permalink] Madison MBA and Related Blogs   03 Mar 2022, 09:00
FROM Madison(Wisconsin) Admissions Blog: The Business of Beer: Business Badger Brewers Tap In To Trends, Tradition, and Innovation




With a market projected to grow to more than $146 billion by 2025, the beer industry continues to captivate consumers and brew masters alike. The same was true for viewers who tuned in to The Business of Beer hosted by the Wisconsin School of Business on Tuesday, March 1. 

The live virtual discussion featured Badgers Dan Abel (BBA ’10), co-founder and chief executive officer of Pilot Project Brewing in Chicago, and Steve Holle (MS ’88), founder of Kansas City Bier Company. The conversation covered trending topics in the malted brew industry including beer types and flavors, sustainable production and packaging practices, and best tips to break into the industry.

Coming from two different business models—one steeped in the tradition of German-style beer production, and one helping brewers innovate to creatively break into the industry—Holle and Abel regaled guests with their vast insights into the U.S. beer market.

The beer industry was not immune to the economic fallout of the pandemic. With microbrewers struggling to keep taps open over the last two years and the rising inflation costs for every aspect of production and distribution, consumers should be prepared to see their favorite microbrew prices go up this year.

“I think there was some level of hope that it would return to some level of normalcy, but the reality is that it won’t,” says Abel. “This is the new norm.”

Despite the effects on the pocketbook, Holle and Abel said microbrewing isn’t going anywhere.

“I believe the microbrew industry will continue to grow, but it will be in small tasting room focused breweries,” said Holle. “And that mostly has to do with the fact that most people who work in this industry love beer and work in it because they love it.”

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Ask an Expert: Why Do Global Events Cause Gas Prices To Rise in the U. [#permalink] Madison MBA and Related Blogs   03 Mar 2022, 12:00
FROM Madison(Wisconsin) Admissions Blog: Ask an Expert: Why Do Global Events Cause Gas Prices To Rise in the U.S.?
Q: What are we seeing right now with gas prices and the crisis in the Ukraine? Why are gas prices so intertwined with global events?

A: The price of gas has risen considerably since the Russian invasion of Ukraine: It’s not an uncommon phenomenon when there’s political turmoil—and, even worse, war—that may disrupt the supply of oil. Interestingly, in this case Ukraine is not the oil producer; Russia, the aggressor, is. But as governments around the world are looking for other suppliers (like Canada did, stopping all imports of Russian crude oil), as oil companies divest from Russia (like BP and Shell did), as Russian oil companies suffer the brunt of sanctions (like Gazprom, the parent company of the inoperative Nord Stream 2 pipeline), as Russian ships are barred from ports and Russian banks are excluded from the payment system that makes international trade possible, the price of oil—and subsequently the price of gas—is affected. 

Part of the reason prices are affected is an actual supply disruption, but the other part is due to the hoarding of crude oil by oil companies willing to pay a premium price to stockpile it just in case there’s a future, even more severe or long-term supply disruption. It’s not unlike the reason some people bought 100 double rolls of toilet paper in April 2020 “just in case.” In the short run, those jitters mean higher prices at the pump and even higher inflation driven by higher energy prices. But even those increases will vary geographically; some European countries, for example, are far more dependent on Russian energy than others (and should count themselves lucky that winter is just about over and the demand for heating oil will plummet). The U.S. will see even smaller increases in the price of gas, and they will likely be short-lived unless the war escalates further.

This is a good time to put things into perspective: No one likes to pay more at the pump or at the grocery store, and lower-income people are hit harder by such increases. For some of us, it’s just an inconvenience, and for others, it’s a real hit to their already tight household budget. But none of us in the U.S. is dealing with foreign troops and tanks rolling down our neighborhood streets. We’re not afraid of a cruise missile hitting the local children’s hospital and our teachers, accountants, and bus drivers haven’t had to pick up an anti-tank missile and assault rifle and prepare to die as they defend themselves from Russian invaders. If punishing sanctions on Russia mean paying more at the pump, it’s well worth the sacrifice. After all, it’s nothing compared to the blood sacrifice of the brave ordinary citizens of Ukraine. Let’s have empathy, support those whose lives and freedom are in peril, and let’s count our blessings.   

—Moses Altsech is a lecturer in the Department of Marketing at the Wisconsin School of Business and the president of Moses Altsech Consulting. Watch Altsech’s recent interview with Channel 3000 on gas prices and the Ukraine.

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International Womens Day 2022: What Can Business Leaders Do To Break t [#permalink] Madison MBA and Related Blogs   07 Mar 2022, 14:00
FROM Madison(Wisconsin) Admissions Blog: International Women’s Day 2022: What Can Business Leaders Do To Break the Bias?
Tuesday, March 8, is International Women’s Day. In keeping with this year’s theme, we asked members of the Wisconsin School of Business community what current and future business leaders can do to #BreakTheBias and create a world with greater gender parity. Here’s what they said:

“I believe that much of the gender bias out there against women is based on outdated views of what leadership looks like. More and more research shows that emotional intelligence, empathy, and relationship building are top skills needed by leaders to support the modern day workforce. These are skills that women are often socialized to learn; if business leaders recognized that value and promoted women with those skills, that would help to #BreakTheBias.”

—Julie Duffstein, director of student life, undergraduate program

“To break bias, you need to measure it, then acknowledge its size, depth, and association with outcomes businesses care about like productivity and value creation. Like a doctor detecting a tumor, quantifying it, and telling you how it can hurt you.

“I have been recently working on a project looking at how signaling gender and race identity by small business owners impacts their subsequent custom. I want to know as digital platforms let people signal who they are and what their businesses represent, do they generate long-term measurable benefits or attract more bias?”

—Yash Babar, assistant professor, operations and information management

“I believe that women must actively contribute to the conversation of ideas and not wait to be asked.  We can show others that our compassion, support, and nurturing are valuable assets to emulate, and not ones to be encouraged to change. We can show that diversity of thought and approach brings new perspectives that enhance the workplace culture and productivity. We want to be ourselves; to be respected and valued as people, role models, and thought leaders.”

—Margie Rosenberg, professor, risk and insurance

Julie Duffstein is the director of student life and the undergraduate program office at the Wisconsin School of Business.

Yash Babar is an assistant professor of operations and information management at the Wisconsin School of Business.

Margie Rosenberg is the Assurant Health Professor in Actuarial Science and a professor of risk and insurance at the Wisconsin School of Business.

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Alumni Webinar: Effective Intercultural Communication in Business [#permalink] Madison MBA and Related Blogs   08 Mar 2022, 10:00
FROM Madison(Wisconsin) Admissions Blog: Alumni Webinar: Effective Intercultural Communication in Business




International business is defined as transactions between two or more parties located in two or more countries. Firms and multinational corporations engage in international business for many reasons—to gain new markets and customers, enhance profitability, access talent and innovations, and more. Communication between parities isn’t always clear, and might take some getting used to. During this webinar, Sachin Tuli (BBA ‘98, MS ‘00), director of the undergraduate international business major the Wisconsin School of Business, explains what pieces play a role in intercultural communication in business.

What is culture?

Culture at the most basic level is the system for living in a society. History, traditions, geography, and social institutions make up culture. There are different ways that culture can create barriers in the business world, but there are ways to work through them while working towards understanding one another. It’s important to realize that cultural differences can exist, but they may not always be an issue as to why communication doesn’t work. In a diverse and interconnected world it’s wise to understand how to face certain barriers while being respectful.

Deep vs. surface culture

Culture includes both surface level elements and deep or unobservable elements. Those who study intercultural communication view culture as an iceberg to visualize these differences. The visible things at the top are elements like food, clothing trends, and hair styles. But underneath the surface lies elements like values, attitudes, and beliefs. This is where greater differences can exist, so companies and their employees need to learn to understand these differences.

International mindset matters

Unfortunately, humans’ brains are wired to discriminate. They are wired to take in new information and assign that information as different. A global mindset is extremely valuable when paired with experience abroad. Having an international mindset can help elicit skills that can be learned, but not taught, such as relationship development skills, empathy, and a non-judgmental interpretation of others behaviors.

High context vs. low context communication

Different cultures prefer different levels of context in communication. Good communication in a low context setting is precise, simple, and clear. Messages are expressed and understood at face value. Repetition is often appreciated if it helps to clarify. Quality communication in a high context setting is sophisticated, nuanced, and layered. Messages are often implied but not blatantly expressed. Understanding where business partners across cultures fall on this scale can ensure messages don’t get lost in translation.

Sachin Tuli is the director of the International Business major at the Wisconsin School of Business. Tuli brings over 15 years of teaching experience to his courses in international business and global marketing, which include Business in the Global Economy and Global Marketing Strategy. He has developed, taught, and led international business seminars to China, Cuba, India, Thailand, United Arab Emirates, and Vietnam for graduate and undergraduate students, as well as for other faculty.

As director of the international business major, he oversees curriculum, advises students on academics and careers, and collaborates with other professionals to ensure that the department is well represented at UW-Madison and its communities.

Tuli holds a BBA in marketing and an MS in higher education administration, both from the University of Wisconsin-Madison.

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WSBs Anita Mukherjee Named TIAA Institute Fellow [#permalink] Madison MBA and Related Blogs   18 Mar 2022, 09:00
FROM Madison(Wisconsin) Admissions Blog: WSB’s Anita Mukherjee Named TIAA Institute Fellow
Anita Mukherjee, an assistant professor of risk and insurance at the Wisconsin School of Business, has been named a TIAA Institute Fellow.

Per TIAA’s website, “Institute Fellows are nationally recognized scholars and higher education administrators with deep expertise in the areas of financial security (including lifetime income and retirement security, retirement plan design, and financial literacy and capability) and higher education leadership (including innovation and financial sustainability, academic workforce trends, and institutional governance and risk management).”

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Crowdfunding For Equity Financing Helps Gender Equity, Too [#permalink] Madison MBA and Related Blogs   21 Mar 2022, 11:00
FROM Madison(Wisconsin) Admissions Blog: Crowdfunding For Equity Financing Helps Gender Equity, Too
Crowdingfunding may level the traditionally male playing field of equity financing, a recent study by Martin Ganco, professor of management and human resources at the Wisconsin School of Business, suggests.

In the entrepreneurship world, equity financing is when investors buy into a startup venture with the understanding that although the venture’s financial future is uncertain, there will likely be some monetary gain or payout at a later date, such as an initial public offering. Research has shown that investors tend to select male founders over female and that women founders have a harder time overall in raising equity capital.

Gender Gaps in Equity Crowdfunding: Evidence From a Randomized Field Experiment,” published by Management Science.

Martin Ganco is the Robert Pricer Chair in Enterprise Development and a professor in the Department of Management and Human Resources at the Wisconsin School of Business. He is the academic director for the Weinert Center for Entrepreneurship.

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What Workers Gain in Efficiency, They May Lose in Creativity, AR Manuf [#permalink] Madison MBA and Related Blogs   21 Mar 2022, 12:00
FROM Madison(Wisconsin) Admissions Blog: What Workers Gain in Efficiency, They May Lose in Creativity, AR Manufacturing Study Suggests
Imagine you’re visiting a major city like Los Angeles for the first time. By the time you pull out of the parking garage after a full day of sightseeing, it’s after dark and the streets all look the same. Deciding to forego your own navigation skills and just use the GPS, you’re relieved to see the signs for the interstate ramp up ahead. But what if you had to backtrack for some reason? Could you repeat your steps without the help of the GPS?

A new study by Enno Siemsen, a professor of operations and information management at the Wisconsin School of Business, finds that when we take away the use of augmented reality (AR)—like the GPS—we’re more than a little lost.

Siemsen’s study assessed two groups of manufacturing company workers completing a task—one using AR smart glasses and the other using only step-by-step paper instructions. The AR group was initially significantly faster than its paper instruction counterparts. However, when both groups had to repeat the task a second time without any instructions, the paper control group performed much faster than the AR group. Similar to the GPS scenario, a version of which is mentioned at the outset of the study’s paper, the AR group reached the finish line faster initially, but had not mentally absorbed the task’s steps in the same way that the paper instruction group did when the tools were taken away. Without the glasses, the AR group floundered.

“I think the GPS example gives us a quick, intuitive sense for what the paper is ultimately about, which is this level of processing or of building a mental model,” Siemsen says. “If I have a map, it forces me to really create a mental model of how the city works: What are the key traffic lights? Where do I find my orientation?”

No GPS means step-by-step instructions, and a different level of task understanding, he says. “That’s in some sense exactly what we observe in the experiment. The people who use AR are very productive initially compared to the people who have to apply pen and paper instructions.”

Study genesis and design

Siemsen says his study, with co-authors David Wuttke and Ankit Upadhyay of Technische Universität München and Alexandra Wuttke–Linnemann of the Center for Health in Old Age in Mainz, Germany, grew in part out of observing how technology was changing standardization and the nature of work.

“I had followed AR closely with the introduction of Google Glass and then the removal of Google Glass,” he says. “I knew that sort of a separate world existed in the B2B space where AR was used quite frequently.”

While standardizing work reduces errors, it also reduces how much people are learning—a tradeoff known as the “productivity dilemma,” Siemsen says. “I think for us the immediate question was, do we see this productivity dilemma reappearing under augmented reality? If you look at it objectively, it’s a form of standardization.”

The study setting was a German manufacturing company where factory workers had already been introduced to AR, yet were also still using paper instructions to complete production tasks. The company was increasing production, and 50 employees were divided into two groups—one given smart glasses that directed each step for the wearer while the other used paper instructions—to assemble an actual standardized product for the first time.

Seeing the Bigger Picture? Ramping Up Production With the Use of Augmented Reality,” published in Manufacturing & Service Operations Management.[/b]

Enno Siemsen is the Patrick A. Thiele Distinguished Chair in Business and a professor of operations and information management in the Department of Operations and Information Management at the Wisconsin School of Business. He is the associate dean of the MBA and Master’s Programs, and the executive director of the Erdman Center for Operations and Technology Management.

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Wisconsin School of Business Headlines April Badger Talks Live Series [#permalink] Madison MBA and Related Blogs   29 Mar 2022, 12:00
FROM Madison(Wisconsin) Admissions Blog: Wisconsin School of Business Headlines April Badger Talks Live Series
The Wisconsin School of Business will be featured prominently throughout April as part of University of Wisconsin–Madison’s Badger Talks Live Series, a virtual program that sparks conversation and extends the Wisconsin Idea by sharing the latest discoveries and insights from the university’s faculty, staff, and graduate students.

Supply Chain Disruptions During Pandemic Times
Tuesday, April 5 at noon
WSB’s Greg DeCroix, Grainger Professor in Supply Chain Management and a  professor of operations and information management, and Jake Dean, director of the Grainger Center for Supply Chain Management, will present “Supply Chain Disruptions During Pandemic Times.”

Talk Description: “It’s hard to escape hearing about ‘supply chain issues’ these days. How did we get here, and more importantly, what happens next?  Jake Dean and Greg DeCroix will share their industry and academic thoughts to put things in perspective.”

Dean is also a featured guest on the Badger Talks Podcast, “Shifts in Supply Chains with Jake Dean.” Listeners can access the podcast through the Badger Talks website as well as streaming platforms such as Spotify and Google podcasts.

Small Business and Entrepreneurship Development
Tuesday, April 12 at 1 p.m.
WSB’s Michelle Somes-Booher, director of the Wisconsin Small Business Development Center, and Dan Olszewski, director of the Weinert Center for Entrepreneurship, will present “Small Business and Entrepreneurship Development.”

Wisconsin School of Business: A Visit With Dean Samba
Tuesday, April 19 at noon
Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean, will share his strategic vision for the school, reflect on WSB’s response to COVID-19, and discuss trends in business education.

No registration is required to attend the Badger Talks Live series; viewers can access the talks directly by going to the Badger Talks Facebook or YouTube channel. The talks will remain available on both channels after each episode.

The Badger Talks Live series is made possible in part by a grant from the Wisconsin Foundation and Alumni Association.

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WSBs Emaad Manzoor Wins Prestigious Psychology of Technology Dissertat [#permalink] Madison MBA and Related Blogs   01 Apr 2022, 15:00
FROM Madison(Wisconsin) Admissions Blog: WSB’s Emaad Manzoor Wins Prestigious Psychology of Technology Dissertation Award
Emaad Manzoor, an assistant professor of operations and information management at the Wisconsin School of Business, is one of only three scholars worldwide to receive the 2022 Psychology of Technology Dissertation Award from the Psychology of Technology Institute.

Manzoor received the award based on his research on persuasion in technology-mediated communication, “Persuasion in Text-Based Communication.”

The Institute’s annual award recognizes current doctoral students and recent graduates in fields including psychology, management, marketing, economics, and computer science. Per the organization’s website, “This initiative is in line with the Institute’s mission of connecting and supporting scholars from multiple scientific disciplines who conduct research examining the factors that shape people’s attitudes about new technologies (e.g., social media, smartphones, algorithms, self-driving cars, robots, artificial intelligence), and how the adoption and use of these technologies are transforming how people live, work, play, and interact.”

“With AI and other advanced digital technologies becoming increasingly ingrained in business and daily life, the importance of rigorous scientific inquiry at the interface of technology and psychology has hardly been greater,” says Nicholas Petruzzi, the Michael E. Lehman Distinguished Chair in Business and a professor of operations and information management at WSB. “This prestigious dissertation award is a testament to the value that Emaad and his research bring to the fore of the discussion.”

Manzoor’s dissertation has also garnered numerous accolades from other organizations including as runner-up for the 2021 Institute for Operations Research and the Management Sciences (INFORMS) ISS Nunamaker-Chen Dissertation Award; a 2021 Psychology of Technology Best Paper Award at the Association for the Advancement of Artificial Intelligence’s Workshop on Behavioral Change for Social Good, and a 2019 Best Paper Award nomination at the INFORMS Annual Meeting.

In addition to text-based communication, Manzoor’s research avenues include machine learning and online human behavior. In 2021, he was recognized as a rising star in data science by the University of Chicago. Manzoor joined WSB in 2021 after receiving his PhD from Carnegie Mellon University.

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WSBs New Multicultural Center Builds Community [#permalink] Madison MBA and Related Blogs   14 Apr 2022, 14:00
FROM Madison(Wisconsin) Admissions Blog: WSB’s New Multicultural Center Builds Community
The Wisconsin School of Business has launched a new Multicultural Center—encompassing two spaces in Grainger Hall designed to promote diversity, equity, and inclusion throughout the school. 

The center is much more than physical spaces, however. It’s a student-led initiative designed to promote cultural change, the result of hard work from a school community that yearns to build WSB into a more inclusive and supportive place. It’s an investment in people and possibilities for those who are too often marginalized, and the continuation of a decade-plus of work that WSB has put in to make the business world more equitable. 

The center’s mission is to support students from historically underrepresented backgrounds, particularly students of color, and provide them with opportunities for connection, collaboration, and belonging. 

It launches with two mentoring programs established and several events in the works. 

Led by students, built through collaboration

The idea for the center started with a petition written by student Nalah McWhorter (BBA ’22), president of the Wisconsin Black Student Union. She opened up about her experience as a person of color at the school and the redesign WSB needed to further include students of color. 

The WSB community listened to what McWhorter and her fellow students said, and interest from across the school emerged in making McWhorter’s idea a reality. 

The school then created a committee of students, staff, and outside stakeholders to review ideas of how the center would function and then developed a plan. The center had a soft opening in Fall 2021 and will be in full swing starting in Fall 2022. 

One of the center’s early successes was a Black History Month event that drew huge attendance. It was there that McWhorter’s dream for the space was realized. 

“It feels so surreal,” says McWhorter. “This was literally an idea two years ago. And now it’s a real space, and I’m seeing faces I’ve never seen before: Black business students, Asian business students, business students from all over that I’ve never seen before, and that’s really, really cool.”

“The space is just so welcoming,” continues McWhorter. “You walk in and everybody is like, ‘hi, how are you?’ It’s just a very welcoming, inclusive space that feels good to sit down in and study, and feels good to go to and meet up with other students and work on projects.” 

“You walk in and everybody is like, ‘hi, how are you?’ It’s just a very welcoming, inclusive space.”

—Nalah McWhorter (BBA ’22)

Although she will only get a chance to use the center in its soft opening year, McWhorter says that she didn’t develop the idea for the center for herself, but the Black and Brown students that will follow in her footsteps at WSB. She hopes that having that inclusive space will give them, as well as faculty and staff of color, opportunities to connect and simply have a place to hang out.

Olivia Asare (BBA ’24), a student on the center’s planning committee, hopes the center can be a place where students of color feel comfortable being their 100% authentic selves, while furthering their education and professional development. 

“If the center becomes a place that students can walk away from and say they furthered their career or found an amazing opportunity because of the resources available to them, I believe it would be an incredible accomplishment,” says Asare. 


Students, staff, and faculty enjoy the new Multicultural Center during its soft opening in October. Photo by Paul L. Newby, II

Building on WSB’s portfolio of DEI programs

The launch of the center expands upon WSB’s diversity, equity, and inclusion work, which includes the BEL Program; student affinity groups; a DEI advisory committee; Business Badger Badges; partnerships with The Consortium, the Forté Foundation, and The PhD Project; and equity and inclusion principles increasingly being embedded into the curriculum. Diversity, equity, and inclusion have been key priorities for WSB since 2009 when the school launched its DEI office, headed by Chief Diversity and Inclusion Officer Binnu Palta Hill. 

As workplaces have demanded more diversity and equity, WSB has continually looked at how it could better serve its students, faculty, staff, and the greater business world. 

“There’s a great diversity, equity, and inclusion infrastructure in place here, and we’re elevating it,” says Palta Hill.

Center for Professional Development additionally offers a DEI certificate for campus and corporate partners.

Since Vallabh “Samba” Sambamurthy joined the school as Albert O. Nicholas Dean in 2019, the DEI office has grown, with Palta Hill taking on a major strategic role and Siri Pairin (BA ’15) and Patty Cisneros Prevo joining in school-wide and undergraduate DEI capacities. The latest DEI leader to join is Arturo “Tito” Diaz (BS ’15), the new Kemper Director of the Multicultural Center.   

Tito Diaz leads the way as center director

Diaz is building on his experience as a UW–Madison alum in his role leading the center. A 2015 grad, Diaz brings experience from UW’s campuswide multicultural center, a degree in community and nonprofit leadership, and most importantly, lived experience as a student of color on campus. Diaz understands that students of color can have varied experiences in college. 

undergraduate business program on multicultural development opportunities, with Cisneros Prevo using the center for meetings with student affinity groups. 

With the help of students like McWhorter and the guidance of passionate connectors like Diaz, the school is en route to a better—and more inclusive future. 

The Multicultural Center spaces

Grainger Hall 2250 and 2256

2250: The Multicultural Commons

This is the main hub, with a front desk, artwork from a student-run competition, a large TV, and lounge furniture. This space will be multifunctional, used by people who want to study, groups who want to meet, and events. The large TV can be used for presentations, with speakers and alumni calling in. 

2256 

This space houses two offices, a conference room, quiet study space, and a meditation/prayer/wellness room. The conference room will be set up to host smaller meetings, and the meditation/prayer/wellness room will be used by students and others who need to take a moment for themselves.

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Business Badger Thomas Costellos Legacy Lives On Through Alumni Award [#permalink] Madison MBA and Related Blogs   18 Apr 2022, 07:00
FROM Madison(Wisconsin) Admissions Blog: Business Badger Thomas Costello’s Legacy Lives On Through Alumni Award
“Bettering myself isn’t what I do, it’s who I am.”

This was a mantra that WSB alumnus Thomas A. Costello (BBA ’19) lived by each day before his tragic passing after an accident in June 2021. Tommy, which his friends and family fondly called him, epitomized what it means to be a Badger through his unrelenting desire to achieve his fullest potential and to help those around him do the same, personally and professionally.

To honor Tommy, the Thomas A. Costello Legacy Foundation has been established to serve as a hub for people to celebrate his memory through their support of causes important to him, including scholarships for UW–Madison students. In addition, through a generous donation from WSB alumni, the Thomas A. Costello Memorial Alumni Award is being established to celebrate a member of the Badgers in Finance alumni network who goes above and beyond to help others.


Tommy Costello

Originally from Chaska, Minnesota, Tommy was intelligent, had an unparalleled work ethic, and a zest for living life to its fullest. In high school, he survived a six-month battle with stage 3 Hodgkin’s lymphoma and made it a priority to stay committed to his education because he knew it would one day enable him to achieve his dreams. As a cancer survivor, Tommy became a speaker for both the Make-A-Wish Foundation and the Leukemia/Lymphoma Society, sharing his story and inspiring his community to support these very important causes.

As a Business Badger, Tommy was highly engaged in student organizations, including the Wisconsin Investment Banking Club, and founded two organizations: Insights Wisconsin and The Federal Reserve Challenge. He graduated with a triple major in finance, economics, and risk management and insurance. He dreamed of becoming a Wall Street investment banker and realized his goal when he accepted positions as a summer analyst and a full-time analyst with Rothschild & Co.’s New York office in the Restructuring Group.

“For Thomas, it was never the easy route but rather the path that would give him the most fulsome understanding of how to grow and apply ideas for a greater impact,” says his roommate and WSB alumnus Ryan Ruth (BBA ’19).

Giving back and helping others maximize their potential was Tommy’s purpose. As a student and in his two years as a WSB alumnus, Tommy mentored hundreds of students and peers to help them achieve personal and career success. He inspired confidence in them and helped them understand that they could achieve their goals if they gave their best effort. According to Brad Chandler, director of WSB’s Nicholas Center for Corporate Finance and Investment Banking, “A number of our alums on Wall Street right now gladly recognized a debt of gratitude they owe Thomas for his help in getting them to NYC.”

Tim Hotchandani (BBA ’04), Rothschild & Co.’s managing director, saw that firsthand.

“He was the pounding heart and soul of our recruiting team. Fast forward to today, UW–Madison is a strategic advantage (‘core’) school for Rothschild & Co., and we have just finished recruiting the largest class of summer interns to a single investment bank ever,” says Hotchandani, who attributes much of this success to Tommy’s advocacy and support.

“He truly was the perfect example of how to live out the Wisconsin Idea and use your education and strengths to help others,” says Tommy’s sister and WSB alumna Ashley Costello (BBA ’18).

Tommy’s zest for life is captured in a TED Talk he gave in 2017 while in college. The talk, “Maximizing Your Life Coefficient,” centers on making the most of each day.

“His selflessness was unmatched and his constant joy for the world is a reminder to us all to live as Tommy would have,” says WSB alumna and fellow Rothschild & Co. investment banking analyst Anna Grote (BBA ’20).

Contributions can be made in support of Tommy’s legacy through these sites:

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Wisconsin Investment Banking Case Competition Puts Undergraduate Stude [#permalink] Madison MBA and Related Blogs   21 Apr 2022, 08:00
FROM Madison(Wisconsin) Admissions Blog: Wisconsin Investment Banking Case Competition Puts Undergraduate Students in the Driver’s Seat
A household name synonymous with summer barbeques and family get-togethers, this consumer brand has enjoyed decades of market dominance with its outdoor grills thanks to quality workmanship and Midwestern roots. But now, Company X is a rumored target for acquisition. Senior management and the board of directors need some answers—and they need them fast. What is Company X’s value as a standalone company? What is the profile of a front-running acquirer? Would this be a positive strategic deal for Company X? What about maximum buyer prices? Should Company X just stay independent?

Such was the financial valuation challenge posed to Wisconsin School of Business finance students this January during the first-ever WSB-wide Wisconsin Investment Banking Case Competition, hosted by WSB’s Department of Finance, Investment, and Banking and the Wisconsin Investment Banking Club. Students competing in the real-life consumer retail case were tasked with analyzing and synthesizing data on the company, creating actionable recommendations and a proposal, then pitching it live to a panel of faculty and industry judges and receiving their feedback.

Ryan Burnett (BBA ’24), a finance and economics major with a data science certificate, says the competition was a fantastic experience. “I was able to not only apply everything I had learned in my various finance classes, but also explore my interest in investment banking. The case competition has given me an applied investment banking experience not many other students may have.”

Teams received valuable input and coaching during the review stage from Brad Chandler, director of the Nicholas Center for Corporate Finance and Investment Banking , and Marisa Mackey Palmer, senior finance lecturer. The competition was judged by WSB alumni and industry leaders Adam Taetle (BBA ’90), senior managing director with Evercore and a WSB Dean’s Advisory Board member, and Benjamin Riback (BBA ’97), managing director of consumer and retail with William Blair. The winner and the two top placing teams received monetary awards thanks to the Nathan S. Brand Award for Excellence in Finance.

The competition offers students the chance to learn by doing, building key skills in the solving of real-world business problems that will help position them for investment banking success. WSB’s Finance Program Director, Jamie Macias, says alumni and recruiters almost always comment that WSB students are “very well prepared.”

“They have the accounting, the finance, the holistic business acumen to be successful on the job. I think our students also have this element of grit and work ethic that on Wall Street is unparalleled, and that opens up a lot of great doors for career progression down the road,” she says. “But the flip side of that Wisconsin work ethic and Wisconsin spirit is that they tell our students that they’re too humble and not confident enough at times. That’s why we’re trying to do more of these applied experiences at scale.”

Macias is also an advisor to WSB’s Wisconsin Investment Banking Club, a role which sparked the idea for a revamp of the case competition tradition. “The club has, for many years, run an internal case competition open to all of its sophomores, which was about 25,” she says. “It was a great learning experience for them to work on a real-life case, present, and then get feedback. So, we decided to expand the case competition: We partnered with the club and made it the first Wisconsin Finance Investment Banking Case Competition. We ended up having 60 students sign up—we tripled the size of it.”

The club also assigned junior and senior year mentors to each of the eight teams. “It was a privilege to serve as a mentor for this incredible group,” says Amit Kumra (BBA ’22). “As an incoming investment banking analyst, it was a very unique experience reviewing work instead of generating it for the client.”

Transforming the undergraduate finance degree

The restructured competition integrates well into what is a larger vision already underway for the finance program—transforming the undergraduate degree. Macias says that process is taking place in the following ways:

Diversifying the student body: “The finance industry is really striving to become a more inclusive, diverse place. They’ve invested a lot in trying to create opportunities for more women, underrepresented minority students, and other historically underrepresented identities within the finance industry including LGBTQ plus, disability, and veteran status.”

Career readiness and pathway skills: Macias says that investment banking recruiting timelines have shifted earlier over the last five to six years, and students need to be prepared with interview skills and via applied experiences.“We want to make sure that they have the academic and the professional skills preparation to get them ready for their desired career pathway.” Burnett says the competition also strengthened his interview skills. “It has allowed me to better understand the material I study for technical interviews, to sound more knowledgeable when discussing recent finance trends, and it has given me a great team experience to elaborate on in behavioral interviews.”

Alumni and employer networks: Equitable access to the WSB network is critical, Macias says. Even in an extremely competitive environment, “our network is what has allowed us to be successful. We have many passionate alumni, parents of Badgers, and people working in industry that have advocated hard for Wisconsin students within their organizations. And that has allowed us to build some really strong, sustainable pipelines at certain firms where we’re placing numbers of students each year.”

Along with these key areas, the finance program aims to increase its current 93 percent job placement rate to 98 percent by 2025. Macias says the program is also interested in assessing student satisfaction with their job placements.

“The successful delivery of this competition has inspired Wisconsin Finance to look into other signature experiences at scale,” says Macias. “This is just the beginning of our great transformation efforts to make sure our finance students and alumni are ready for the future of finance.”

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WSB Alumni Survey Points to Importance of Community Connection, Qualit [#permalink] Madison MBA and Related Blogs   25 Apr 2022, 08:00
FROM Madison(Wisconsin) Admissions Blog: WSB Alumni Survey Points to Importance of Community Connection, Quality Experience
The Wisconsin School of Business values the connection to its alumni network, which is more than 45,500 people strong. As such, it is important to WSB to use data-driven approaches to track how the school is meeting alumni needs and to identify opportunities to better serve alumni. WSB formally receives this feedback through its biennial Alumni Pulse Survey. The 2021 survey was fielded to approximately 30,000 WSB alumni in November 2021 and garnered 700 complete responses.

Similar to the results from the 2019 survey, the majority of WSB alumni have a positive opinion of the school and are proud to be an alum. Many agree that an engaged alumni network is important and participate in a variety of activities offered by WSB—from attending events, volunteering on boards, joining the Alumni Voice Panel, giving financially, and participating in professional development webinars.

Connection

Connecting to other Business Badgers is also a high priority for alumni. More than one-third of respondents said that they want to connect with alumni in their field of work. WSB understands the high value of networking and has opened up several channels for alumni to build a robust business network. The LinkedIn Wisconsin Business Alumni Group is a growing platform for thought leaders to find other Business Badgers, post job opportunities, and share updates, best practices, and more. In addition, WSB has hosted several successful alumni-to-alumni and alumni-to-student virtual networking events with plans to continue to offer more of these events both in-person and virtually.

Event Opportunities

More than 60 percent of alumni now work at least partially from home from more than 40+ states or regions around the world. WSB has pivoted toward providing several new online initiatives that are more accessible, including sending Business Casual, a bi-monthly e-newsletter, and launching two new successful virtual events, The Business Of… and Badger Executive Talks. WSB is increasingly curating flexible learning opportunities such as webinars, courses, certificates, and badges to provide the highest level of accessible professional development content for alumni.

Staying Informed

Finally, with more than two-thirds of alumni reading communications, WSB strives to provide relevant and important information on school news, faculty research, alumni stories, and market trends. WSB does this through a variety of communication channels including the alumni magazine Update, WSB’s annual Report to Investors, alumni news blog, and Business Casual e-newsletter. WSB’s recent brand refresh and associated brand campaign showcases the stories of several alumni that illustrate the many ways that Business Badgers are trusted to lead. Alumni are invited to keep their contact information up to date and opt in to any of these communications by submitting an updated contact form.

The valued feedback shared by alumni in the 2021 Alumni Pulse survey helps the school to proactively identify opportunities to better serve the Business Badger community. Visit the detailed summary of the 2021 survey results for more information.



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