Last visit was: 20 Nov 2025, 01:42 It is currently 20 Nov 2025, 01:42
Home
GMAT
Messages
Tests
Schools
Events
Rewards
Chat
My Profile
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 05 Apr 2024, 11:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Photo Gallery: Talking Tech in Chicago
Alumni, students, and technology experts gathered at the Microsoft Technology Center in Chicago for a recent event: Talking Tech in Chicago. Hosted on March 21 by the Wisconsin School of Business (WSB) and the School of Computer, Data & Information Sciences at UW–Madison, the tech-focused networking event welcomed over 100 Badgers, including students in WSB’s Master of Science-Business: Analytics program. In addition to one-on-one networking opportunities, guests participated in a brief panel discussion and Q&A session with tech experts from Spaulding Ridge, Microsoft, and UW–Madison. Guests enjoyed the opportunity to network with local Badgers, meet industry leaders, and of course, talk about tech.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_Z72_0664-1024x675.jpg[/img]
The networking begins! Margaret Karlen (BA ’03) and Emil Ray Sanchez (BBA ’88), chief executive officer of Phoenix International Freight Services, Inc., strike up an engaging conversation at the start of the event.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_NZ9_6893-1024x689.jpg[/img]
Cody Baldwin, director of the Master’s in Business Analytics program at WSB, keeps the pace flowing as panel moderator for the event.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_NZ9_6892-1024x683.jpg[/img]
Participants listen intently as the panelists share their tech knowledge and insights.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_NZ9_6852-1024x735.jpg[/img]
Ross Freedman (BBA ’97), co-founder of Origin, engages in a thought-provoking discussion with panelist and UW–Madison computer science student Blaine Hoak (PhD ’25), as well as Kelley Burke, Azure technical sales director for Microsoft’s West and Midwest regions.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_Z72_0996-1024x693.jpg[/img]
Panelist Kelley Burke connects with a UW–Madison student during the event.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_Z72_0715-1024x686.jpg[/img]
The in-demand event drew in over 100 alumni, students, and tech professionals.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_Z72_0906-1024x683.jpg[/img]
Blaine Hoak (PhD ’25) addresses the audience during the event’s panel discussion.

[img]https://business.wisc.edu/wp-content/uploads/2024/04/AR_Talking-Tech-in-Chicago_032024_Z72_1019-1024x664.jpg[/img]
Panelist Jay Laabs (BBA ’98), founder and chief executive officer of Spaulding Ridge, chats with UW–Madison students about the tech industry.
The post [url=https://business.wisc.edu/news/photo-gallery-talking-tech-in-chicago/]Photo Gallery: Talking Tech in Chicago[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 08 Apr 2024, 08:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Empowering Women in Supply Chain: Undergraduate Program Helps Pave the Way for More Women To Enter the Field
Breanna Schneider (BBA ’24) has experienced something not all other women pursuing a supply chain management degree have: a program where the majority of students are women. 

This year, 60% of students in the Wisconsin School of Business [url=https://business.wisc.edu/undergraduate/majors/supply-chain/]undergraduate supply chain management[/url] degree program are women. The major has continued to grow the percentage of women enrolled. Two years ago it was 56% female. 

Schneider says she didn’t think anything about the number of women in her classes until she went to an all-women’s supply chain conference in 2023 and shared WSB’s statistics. 

People were shocked, she says, and some students from other universities told her they have maybe two other women in their classes. 

“They were just mind blown because that’s not prevalent everywhere else,” Schneider says. “I walked into a classroom after I got back and looked around. It was like, ‘Wow, there is something really special here.’ Because not everyone else gets this. This is vastly different from a lot of other universities around the nation.”

Schneider says there is a strong sense of community within the program.

“It doesn’t matter who you are or where you come from,” she says. “It’s just a matter of everyone having the same passion for supply chain and helping each other learn and grow together.

A commitment to a supply chain education and career

[img]https://business.wisc.edu/wp-content/uploads/2023/03/Shadow_Kohler_masthead_2400_1600-1024x683.jpg[/img]
Undergraduate WSB finance and supply chain students participate in the job shadow event at Kohler Co. on Thursday, January 19, 2023 in Kohler, Wisc. Before starting their day at Kohler headquarters, they participated in a self-guided tour of the Kohler Design Center.

[url=https://business.wisc.edu/centers/grainger/] Grainger Center for Supply Chain Management[/url] and began developing some of the nation’s first educational programs in the discipline. Before the undergraduate supply chain major was [url=https://business.wisc.edu/news/wsb-announces-new-undergraduate-major-in-supply-chain-management/]established in 2020[/url], there was a certificate. The school also offers an [url=https://business.wisc.edu/graduate/masters/supply-chain/]MS in Supply Chain Management[/url] and a [url=https://business.wisc.edu/graduate/mba/full-time/specializations/supply-chain/]supply chain management specialization[/url] within the Wisconsin Full-Time MBA Program. All are top-ranked programs.

The Grainger Center[b] [/b]supports the school’s supply chain offerings through industry connections, networking and outreach events, applied-learning opportunities, and advisory boards. In each, there is a focus on ensuring women are well represented. 

“If students see more women in their classes and the industry, they’re going to feel more welcomed and they’re going to want to be involved,” says Blake Bishop, assistant director of the [url=https://business.wisc.edu/centers/grainger/]Grainger Center for Supply Chain Management[/url]. 

The industry is a male-dominated field, but the number of women in the industry is rising.

Women make up around 41% of the supply chain workforce compared to 35% in 2016, according to the 2023 “[url=https://business.wisc.edu/wp-content/uploads/2024/03/2023-gartner-women-in-supply-chain-survey.pdf]Women in Supply Chain Survey[/url]” by Gartner, a technology research and consulting firm that releases an annual report tracking the number of women in the field. 

“It doesn’t matter who you are or where you come from. It’s just a matter of everyone having the same passion for supply chain and helping each other learn and grow together.”
—Breanna Schneider (BBA ’24)

Bishop says the school’s strong partnerships with two all-women professional supply chain organizations play a key role in addressing the gender disparity that exists in supply chain education and the profession. 

Those two organizations [url=https://awesomeleaders.org/]AWESOME[/url]—Achieving Women’s Excellence in Supply Chain Operations, Management, and Education—and [url=https://walton.uark.edu/departments/supplychain/wise.php]WISE[/url]—Women Impacting Supply Chain Excellence—raise awareness of supply chain management as a career and help female students make national connections. Proving to be so impactful, a UW–Madison WISE chapter started at WSB this spring with Schneider’s help.

‘I could be her’

Knowing some barriers for women include a lack of representation in supply chain and awareness surrounding the variety of supply chain careers, numerous women sit on the [url=https://business.wisc.edu/centers/grainger/advisory-board/]Grainger Center’s advisory boards[/url] and six out of nine undergraduate student board of directors members are women.

Emeritus Executive Advisory Board member Claudia Knowlton-Chike spent 40 years in supply chain management. 

She started her career as a packaging engineer at IBM in 1982 and retired as the senior director of global logistics at Google in 2022. Throughout her career she advocated—and still does—for women and underrepresented groups to have more seats at the table, where she was often the only woman in a leadership position. 

She says supply chain is “a great place for women to be” and women excel with their crucial skills in collaboration, communication, problem-solving, and multi-tasking. Plus, there are a variety of opportunities that match people’s professional goals and interests. 

[img]https://business.wisc.edu/wp-content/uploads/2024/03/SCM_Grainger-Center-Advisory-Board-Meeting_1019_PLN3206-2048x1375-1-1024x687.jpg[/img]
Grainger Center Emeritus Executive Advisory Board member Claudia Knowlton-Chike.

Job growth in supply chain is expected to rise 28%, faster than the average occupation, through 2031, according to the U.S. Bureau of Labor Statistics. 

While Knowlton-Chike acknowledges the industry has a ways to go in terms of gender equity and equality, she wouldn’t change her career choice. 

[url=https://business.wisc.edu/news/empowering-women-in-supply-chain-undergraduate-program-helps-pave-the-way-for-more-women-to-enter-the-field/]Empowering Women in Supply Chain: Undergraduate Program Helps Pave the Way for More Women To Enter the Field[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 19 Apr 2024, 11:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: WSB Alum Dorri McWhorter Recognized with 2024 Chancellor’s Entrepreneurial Achievement Award
Wisconsin School of Business alum Dorri McWhorter (BBA ’95) has been recognized with a 2024 Chancellor’s Entrepreneurial Achievement Award from the University of Wisconsin−Madison for her business accomplishments and ongoing commitment to social impact.

She was presented with the award at a campus ceremony on April 18.

Described as a socially conscious business leader dedicated to improving the world, McWhorter is the president and CEO of the YMCA of Metropolitan Chicago. After double majoring in accounting and human resources at WSB, she held several positions and leadership roles across the private and nonprofit sectors, including CEO of the YWCA Metropolitan Chicago.

“Dorri is a veritable change-maker and a force for good—no matter where she goes,” says Vallabh “Samba” Sambamurthy, Albert O. Nicholas Dean of the Wisconsin School of Business. “Throughout her distinguished career, Dorri has been driven by the values of collaboration, innovation, and inclusion. Her vision of business success is one where everyone moves forward together. She is the perfect choice for this recognition and is a true embodiment of what it means to be a Business Badger.”

The Chancellor’s Entrepreneurial Achievement Award recognizes individuals with ties to UW–Madison who have contributed to economic growth and social good, served as entrepreneurial models for the UW community, and inspired the campus culture of entrepreneurship.

2024 Entrepreneurial Awards Winner: Dorri McWhorter

Read more about the 2024 Chancellor’s Entrepreneurial Achievement Awards.

Video courtesy of UW–Madison.

The post WSB Alum Dorri McWhorter Recognized with 2024 Chancellor’s Entrepreneurial Achievement Award appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 22 Apr 2024, 13:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Business Badgers Win KOHLER Undergraduate Wisconsin Supply Chain Cup
Grainger Center for Supply Chain Management.

Wisconsin Idea: the belief that learning extends beyond the confines of the classroom.

“We wanted to revive this competition and offer a great opportunity for Wisconsin students. Schools like UW–Superior have amazing supply chain programs and we are happy to include all our colleagues and students from across the state.”

View moments from the competition as captured by WSB photographer Paul L. Newby II:


First-place winners Team Echo stand on the stage of the Plenary Room for a picture. From left to right: Empowering Women in Supply Chain: Undergraduate Program Helps Pave the Way for More Women To Enter the Field

Championing Supply Chain Excellence: A Triumph at TCU Case Competition 2024

Ask an Expert: How Are Current Supply Chain Issues Taught in the Classroom?

The post Business Badgers Win KOHLER Undergraduate Wisconsin Supply Chain Cup appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 25 Apr 2024, 07:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: The Power of Questions: What Every Professional Should Be Asking
Questions are an important part of Arik and Derek Johnson’s lives. The brothers ask them each day. Of each other, of themselves, of others. 

They’ve led to self-reflection, helped the two grow personally and professionally, and led to launching a successful business.

“The quality of your questions determines the quality of your future,” says Arik (BA ’92), who founded Aurora WDC, a professional services firm focused on competitive intelligence, market innovation and corporate strategy, in 1995. Derek (MBA ’04) joined as director of research in 2003 before becoming CEO in 2010. 

The University of Wisconsin–Madison alumni say they have been significantly influenced over the decades by questions authors have posed in books the two consider must-reads. 

The brothers shared the questions, books, and lessons of resilience with Wisconsin MBA students, faculty, staff, and alumni as part of the M. Keith Weikel MBA Leadership Speaker Series held at the Wisconsin School of Business. 

Throughout the conversation, the Wisconsin natives discussed how their parents have shaped their decisions and pushed them to be resilient. Derek and Arik’s father died in 1999 and their mother died in 2001. 

“You look at all the good lessons that might come to us in our life and some of them might be the most difficult things you’ll ever have to cope with,” Derek says.

Below is a selection of the 15 questions Arik and Derek shared with the audience and their thoughts. 

1. Which strategic choices will have the greatest influence on our success?

This question is from Clayton Christensen’s Seeing What’s Next: Using Theories of Innovation to Predict Industry Change. It is one of three questions Arik says he has asked every day of his career and helped shape Aurora WDC. 

Choice being the operative word there. Choice is really tough inside corporations because choice implies a prerequisite sacrifice. That notion of sacrifice is a deeply human and really tough part of the choice-making process. Most corporations and executives aren’t sitting around thinking about all the sacrifices they’re going to make in order to make a selection. But that’s what it boils down to. A big part of what we have to do is expand the possibilities of options and then narrow it to the superior option, the optimal option. And that is a specific kind of intelligence we call optimality. Optimality is the process of sacrificing all of those really good options in pursuit of the one that’s the best one, that only you as the organization can exploit and enjoy a yield from. —Arik


Arik Johnson, chair of the board and founder of Aurora WDC, and his brother Derek Johnson, chief executive officer of Aurora WDC (not pictured), speak to an audience of Wisconsin MBA students during an M. Keith Weikel MBA Leadership Speaker Series event Thursday, March 7, 2024.

2. When something goes sideways in your life—personal or professional—who will you blame?

This question is from Jocko Willink and Leif Babin’s Extreme Ownership: How U.S. Navy Seals Lead and Win, a book that Derek says had a huge impact on him and is a reminder to be and remain humble. It also brings up memories of his parents. 

This book really resonated with me. When I think about things going sideways in our lives—whether that be our parents dying when we were pretty young or something not going right in our business—who are you going to blame? Are you going to take that and practice this art of extreme ownership? That’s what I’ve learned from this book. And it doesn’t mean it’s easy. In fact, it’s quite difficult to embody that mindset. But when you do, I would argue that it provides you some type of relief from this temptation to blame others. —Derek

When circumstances in your life change, listen to what they might be attempting to tell you because you might be missing a huge opportunity that you’ll never get back.
—Derek Johnson (MBA ’04)

3. How can I be sure that I’ll find satisfaction in my career? 

This question is from Clayton Christensen’s How Will You Measure Your Life? Derek says this book “will change the way you think about things for the better.” 

When their parents passed away, Derek had a career he loved. He was an account manager at Northern Capital Management, an investment management firm in Madison founded by Stephen Hawk. But then Arik and Derek began talking about working together, and Derek had to weigh his options. He says had one or both of his parents been alive at the time, he may have been convinced to stay at Northern Capital Management.

How can I be sure that I’ll find satisfaction in my career? You really can’t be but you can certainly be more than just lucky. You’re not always going to be perfect. You’re going to have those moments where you say, “I really wanted to pursue this,” or “I feel stuck to keep in this career because I’ve got a family to support.” Whatever that might be, they’re all valid reasons. But when circumstances in your life change, listen to what they might be attempting to tell you because you might be missing a huge opportunity that you’ll never get back. —Derek


Derek Johnson, chief executive officer of Aurora WDC, and his brother Arik Johnson, chair of the board and founder of Aurora WDC (not pictured), speak a to an audience of Wisconsin MBA students during an M. Keith Weikel MBA Leadership Speaker Series event Thursday, March 7, 2024.

4. How can I avoid compromising my integrity? 

This question is from Clayton Christensen’s How Will You Measure Your Life? This book emphasizes being true to yourself and not compromising your integrity, values, and morals. The question stems from the Enron financial collapse. Christensen’s Harvard Business School classmate was former Enron CEO Jeffrey Skilling.

The notion of profit being at the expense of everything else is a really important lesson I learned from this book. Meaning is not going to come from profit. Meaning is going to come from making a difference in the world that you can own and that it can be part of your identity. You get to work with people that you love and respect and they champion your cause as much as you champion theirs. Profit is a byproduct of all those other things. Profit is really important, but it’s not the main thing. —Arik

M. Keith Weikel Leadership Speaker Series at the Wisconsin School of Business enables Wisconsin MBA students to interact with and learn from accomplished business leaders and alumni. Executives from both the private and public sectors are invited to campus to address students.

The series was established in 2004 with a gift by John J. Oros (BBA ’71) and his wife, Anne Wackman. Today, the series continues as the M. Keith Weikel MBA Leadership Speaker Series thanks to a gift by M. Keith Weikel (PhD ‘66) and his wife, Barbara.

The post The Power of Questions: What Every Professional Should Be Asking appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 01 May 2024, 11:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Associate Professor Evan Polman’s Nudges Research Featured in Harvard Business Review
Could you benefit from a little extra push to make a decision—whether it’s finally booking that vacation, fitting a quick walk into your lunch hour, or picking what to defrost for dinner?

Behavioral science describes such pushes as “nudges.” These small interventions are designed and tested by researchers to better understand the when, how, and why of what we do. Marketers frequently use these interventions to sway consumers toward one of several options, like signing up for a health club or selecting a cable provider.  

A new study by [url=https://business.wisc.edu/directory/profile/evan-polman/]Evan Polman[/url], published in the Journal of Consumer Research and featured in [url=https://hbr.org/2024/04/will-your-nudge-have-a-lasting-impact]Harvard Business Review[/url], looked at participant behavior and nudges across three different tests. The study found that while nudges may influence people to commit initially, that [url=https://academic.oup.com/jcr/advance-article-abstract/doi/10.1093/jcr/ucad081/7491600?redirectedFrom=fulltext]effect may wane significantly over time[/url].

[url=https://news.wisc.edu/2019-distinguished-teaching-awards/#&gid=1&pid=6]Distinguished Teaching Awards[/url] in 2019 from the University of Wisconsin–Madison. In addition to the Harvard Business Review, his research is frequently featured in national media outlets such as The Wall Street Journal and The New York Times.

The post [url=https://business.wisc.edu/news/associate-professor-evan-polmans-nudges-research-featured-in-harvard-business-review/]Associate Professor Evan Polman’s Nudges Research Featured in Harvard Business Review[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 06 May 2024, 12:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: WSB Faculty Share Their Expertise During 2024 Business Writer in Residence Week
Wisconsin School of Business faculty shared their insights and expertise during the 2024 Business Writer in Residence (BWIR) program, an annual multi-day event where faculty, staff, and students connect with a visiting journalist of national prominence. This year, the school hosted Lauren Weber of The Wall Street Journal in the first BWIR program since the pandemic.

Weber facilitated three faculty panels on the future of business in relation to society, leadership, and the workplace. Panelists included WSB faculty and distinguished alumni in industry, with each session incorporating a roundtable discussion and audience Q&A.

The three panels were:

“The Future of Society: Reimagining Corporate Responsibility in a Rapidly Changing World”

Panelists included Fabio Gaertner, professor of accounting and information systems; Erik Mayer, assistant professor of finance; Ann Terlaak, associate professor of management and human resources; and Christopher Timmins, professor of real estate and urban land economics.


Associate Professor Ann Terlaak weighs in during a panel on society, the changing role of corporations, and sustainability.

Over the course of an hour, the panel discussed the changing role of corporations, ESG, and sustainability. When Weber asked the panel what innovation has the potential to “move the needle” on a particular issue, Timmins shared this perspective:

“It kind of depends on if you want to come at housing, for instance, from an environmental or from more of a social justice point of view. But coming at it from, let’s say, affordability and justice—the manufactured housing industry right now. Kind of specific, but that is where I see the biggest strides being made in putting up housing at an affordable price in mass quantities. … Why is it illegal in some places, with some mobile homes zoned out in a lot of communities? Part of the reason why has a lot to do with rules that were set up in the 1970s post Fair Housing Act when communities were looking for ways to prevent low-income and minority residents from moving into their neighborhoods. You see a lot of those rules are still in place today. So, there are a lot of problems there to deal with, such as the manufactured housing side, that are a barrier to technological innovation and that would be transformative if they were more collaborative.”

“The Future of Leadership: Building Agile, Engaged Teams Through Inclusive Practices”

The roundtable included Kurt Kober, WSB External Advisory Board member, general manager of apparel and vice president of commercial strategy and planning, The Honest Company; Jirs Meuris, assistant professor of management and human resources; and Chia-Jung Tsay, associate professor of management and human resources. Panelists shared their thoughts on topics ranging from leadership and inclusion to work culture and diversity in the workplace.


Kurt Kober of The Honest Company shares insights during a panel on leadership and workplace culture.

When Weber posed a question to the panel on what they think constitutes leadership versus inclusive leadership, Tsay shared an example from her own classroom experience:

“I think even 10 years ago, when conversations about leadership came up in my MBA classrooms, a lot of it was about having initiative, having agency, being assertive. But in recent years, I’ve seen some shift in what the students value—thinking about compassion and empathy, being willing to listen. It’s allowing people to reconsider ‘what is a leader’ and to change or expand views of what a leader could mean.”

“The Future of Work: How Technological and Social Disruption Impact the Workplace and Workforce”

Weber sat down with Barry Gerhart, professor of management and human resources; Katie Krueger, senior lecturer of marketing; and Enno Siemsen, professor of operations and information management. The group discussed topics ranging from emerging technologies and trends to workplace issues and rapid change.


Professor Enno Siemsen makes a point during a panel on work, technological advances, and social disruption.

In response to Weber’s question on some of the most compelling challenges in the workplace currently, Krueger shared the following:

“One of the things I think is really unique about this moment in time is that it’s one of the first times that we’ve had five generations active in the workplace at the same time. That is creating a lot of interesting challenges and opportunities for people in terms of communication and motivation. That’s something that people are talking about a lot.”

Since 1989, WSB has been a part of the University of Wisconsin–Madison’s Journalist in Residence program.

Business Writer in Residence 2024: WSB Welcomes Lauren Weber, The Wall Street Journal

The post WSB Faculty Share Their Expertise During 2024 Business Writer in Residence Week appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 07 May 2024, 09:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: UW at 175: WSB Alums Share Their Most Impactful Memories and Experiences



A UW–Madison education is about much more than just a degree…

It’s about making a difference and living the Wisconsin Idea to the fullest. The principle that education should influence people’s lives beyond the boundaries of the classroom has been UW–Madison’s cornerstone for 175 years, and will continue to define what it means to be Badger for years and decades to come.

As the curtain closes on another academic year, and a new class of graduates heads out into the world, three Business Badgers share their most impactful experiences from their time on campus—and beyond.

Humbled and Inspired

“I had the chance to represent WSB during our evening MBA international trip to Johannesburg, South Africa. Meeting and engaging with people in the Soweto neighborhood was one of the most humbling and inspiring moments of my life. I often reflect back—particularly as we met with the entrepreneurs who were building schools in that neighborhood—and think about all the privileges we’re afforded here and how we have a chance to make a difference every day through our actions.”

—Tom Lea (MBA ’19)



A Taste of Success

“My favorite memories were with Mu Kappa Tau (MKT), the professional honorary marketing society. We worked with local businesses on different marketing efforts like signage and restaurant menu descriptions. I still tell stories about my first taste of Ethiopian food—one of my favorites today. After enjoying a meal with fellow MKT members at a restaurant we were working with, we examined their menu and debated almost every word in the meal descriptions until we finalized our recommendations. I know the things we suggested didn’t make or break anything for this amazing restaurant, but two decades later, it’s still open in a great new location and the food continues to be top notch. I always get chills when I drive by.”

—Kelly Mulder (BBA ’03)

Building Something New

“My favorite memory from my time at UW–Madison was walking into the brand-new Grainger Hall after being in the Commerce building. The Class of 1994 took full advantage of the technology, the alumni visits to the new building, and of course, the education we received. We started so many organizations: Toastmasters, Student Ambassadors, and the Women in Business Council. It was truly a special time to be at UW!”

—Toni Midderhoff Miller (MBA ’94)

This story is part 5 and the final installment of our alumni memories series. You can read more from WSB alums, including their favorite football moments, academic memories, Badger love stories, and silly experiences.

You can also join the anniversary celebration on UW–Madison’s 175th anniversary website, and by using #UW175 on social media.

The post UW at 175: WSB Alums Share Their Most Impactful Memories and Experiences appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 08 May 2024, 17:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Spring 2024 Commencement: Business Badgers in Their Own Words
In ceremonies and celebrations throughout campus, more than 700 Business Badgers will graduate this commencement season. Before their next great adventure, six notable grads shared memorable moments, advice, and what they’ll miss most.

Spring 2024 Commencement: Business Badgers in Their Own Words appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 13 May 2024, 07:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Business Casual: May 2024
The Briefing



[b]Reimagined undergraduate curriculum prepares students to lead when there’s no blueprint[/b]
The Wisconsin School of Business has launched a bold new undergraduate curriculum to help students take on the complex challenges and opportunities of the rapidly evolving business landscape. The reimagined curriculum, which includes four new courses, experiential learning opportunities, and a customizable roadmap for student success, prepares Business Badgers to lead on a global stage.



[b]WSB alum wins 2024 Chancellor’s Entrepreneurial Achievement Award[/b]
Dorri McWhorter (BBA ’95), president and CEO of the YMCA of Metropolitan Chicago, was recognized in April by UW–Madison Chancellor Jennifer Mnookin for her business accomplishments and ongoing commitment to social impact. “Throughout her distinguished career, Dorri has been driven by the values of collaboration, innovation, and inclusion,” says Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean.



[b]WSB faculty member discusses climate change, crowdfunding, and other research on risk[/b]
Philip Mulder, an assistant professor of risk and insurance at WSB, participated in a Q&A about his research on uncertainty. Specifically, Mulder’s research explores how households, insurers, lenders, and governments adapt to dynamic climate risk. In one of his working papers, he’s also looking at how people financially recover from wildfires.

The Ticker

  • Outstanding outcomes: Did you know that 94% of WSB undergraduates seeking employment landed a job post-graduation? Read more impressive employment outcomes from the Class of 2023.

  • Supply Chain Cup champs: Meet Team Echo, the winners of the fifth annual Kohler Undergraduate Wisconsin Supply Chain Cup.

  • Ivy League worthy: Forbes has named UW–Madison to its list of “New Ivies,” or today’s best universities for attracting high achievers and turning out hard-working, highly-regarded employees.

  • Big win for small business: The Wisconsin Small Business Development Center, housed at WSB, was recognized by the Wisconsin Small Business Administration with an award for excellence and innovation.

  • A terrific tech talk: View photos of alumni, students, and experts chatting about the latest in tech at WSB’s recent event: Talking Tech in Chicago.

  • Business Badgers just want to have fun: WSB alumni share memories of the lighter side of student life, from jokes and pranks to silly rituals with friends and classmates.



Back to School

A Minor Test of Major Knowledge

What’s your major? It’s a common question among both students and alumni. And whether you graduated five years ago or 50 years ago, it’s likely something you’ll never forget.

WSB offers a robust and market-driven portfolio of majors that not only suits students’ interests and career objectives, but reflects the needs of the evolving business landscape.

Take this short quiz to learn more about current majors at WSB. (Scroll to the bottom of the newsletter for the answers—and some majorly fun facts too!)

1. How many total undergraduate majors does WSB have? 

A. 10

B. 12

C. 14

2. Currently, which undergraduate major has the highest student enrollment?

A. Accounting

B. Marketing

C. Finance, Investment, and Banking

3. What is WSB’s newest undergraduate major?

A. Entrepreneurship

B. Information Systems

C. Supply Chain Management



Tip Sheet

You’re Hired!

Diplomas in hand, WSB’s newest graduates are heading out into the workforce to begin their careers. However, recent grads may not be the only ones searching for new opportunities. No matter the career stage or experience level, there’s an important part of every job search that all candidates must perfect: the résumé.

Polish up your résumé and stand out in the applicant pool with these tips from Brian Whitmore, career engagement manager for WSB’s undergraduate program office.

[*]Use keywords: Many employers scan and store résumés into databases, which are searched by keywords—such as ‘detail-oriented,’ ‘communication,’ and ‘teamwork’—to identify candidates with the desired skills, experience, and educational background.
[*]Keep it simple and clean: Avoid parentheses, underlining, abbreviations, graphics, borders, italics, lines, columns, or brackets.
[*]Include common jargon: Whenever possible, use common or accepted jargon, like ARGUS or Excel.
[*]Do your homework: Research the company and position for which you are applying to tailor your résumé to the specific job. If your skills match the skills listed in the position description, include those skills verbatim in your résumé.
[*]Employ action words: A bullet point on your résumé should be an action verb, followed by what you did, how you did it, and the result, purpose, or outcome. Check out this list of powerful action words to use in your résumé.[/list]

Alumni Opportunities

May 23: Register now for WSB in MKE, an in-person networking event for Brew City Badgers.

You’ve got mail: Watch your mailboxes for the latest issue of Update magazine!

Alumni Voice Panel: Join WSB’s online panel by May 24 to share your opinions and help improve the alumni and student experience.

What’s new?: Submit a Class Note to share life and career updates in the Fall/Winter 2024 issue of Update magazine.

Get connected: Network with other Business Badgers by joining the Wisconsin Business Alumni LinkedIn group.

Quiz Answers

1. B: With 12 majors and over 40 career pathways, WSB has an offering for every student’s unique academic goals and post-graduate objectives. 

2. C: Currently, there are over 1,400 students declared in Finance, Investment, and Banking.

3. A: Starting Fall 2024, students will be able to pursue WSB’s new entrepreneurship major.

About Business Casual

Every other month, alumni and friends of the Wisconsin School of Business will receive insider updates with news about our alumni, faculty, students, and programs. If you want to share Business Casual with friends, they can sign up at go.wisc.edu/wsb-biz-cas.

Questions or comments? Email businesscasual@wsb.wisc.edu

The post Business Casual: May 2024 appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 13 May 2024, 13:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Unbreakable Ceilings: (WSB) Study Reveals Startling Truth Behind Sluggish Progress on Gender Equity
(MADISON, WI) –Despite concerted efforts to promote gender diversity in traditionally male-dominated fields, progress remains sluggish. Wisconsin School of Business assistant professor of Management and Human Resources, Jirs Meuris, has found out why.

Meuris and co-author Jennifer Merluzzi, of George Washington University, pioneered a study that reveals a paradox: as organizations strive to increase female representation in male-dominated occupations, they inadvertently trigger an evaluation and reward penalty for all employees, irrespective of gender, when more women enter these workplaces.

Meuris elaborates, “Our research uncovers a perplexing trend: the presence of more women in male-dominated fields can lead to diminished recognition and rewards for all employees. This holds true even for exceptional performers, undermining the notion of merit-based evaluation.”

“Our research uncovers a perplexing trend: the presence of more women in male-dominated fields can lead to diminished recognition and rewards for all employees.”
– Jirs Meuris

Drawing from an extensive analysis of performance awards among more than 13,000 police officers over 13 years, the study found that an officer’s individual likelihood of being nominated for a performance award consistently declined when the proportion of women officers in their police unit increased. Both men and women managers enacted this penalty, with men managers penalizing men subordinates more than women subordinates. This pattern was observed for awards recognizing routine and exceptional performance, regardless of gender-typing of the unit or its work tasks.

The study also highlights the pervasive nature of this phenomenon. It transcends occupational hazards, as even high-performing officers in risky roles experience diminished recognition in the presence of more women colleagues.

“Our findings offer novel insights into the challenge of diversifying male-dominated occupations, highlighting the complex interplay between gender composition, performance evaluation, and recognition,” says Meuris.

Moreover, the study underscores the inadequacy of conventional diversity strategies, emphasizing the need for systemic change. “Mere representation is insufficient,” Meuris asserts. “Organizations must overhaul their evaluation and reward systems to ensure equity, regardless of gender composition.”

“Organizations must overhaul their evaluation and reward systems to ensure equity, regardless of gender composition.”
– Jir Meuris

This research serves as a wake-up call for organizations committed to fostering gender diversity. By addressing systemic biases in evaluation and reward mechanisms, companies can create environments conducive to equitable advancement for all employees.

For interviews with Professor Jirs Meuris, contact:

Leiah Fundell Public Relations Manager, Wisconsin School of Business
leiah.fundell@wisc.edu

The post Unbreakable Ceilings: (WSB) Study Reveals Startling Truth Behind Sluggish Progress on Gender Equity appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 14 May 2024, 08:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Donor Support Enhances Case Competition Excellence and More
Undergraduate supply chain students notch case competition victory

A team of Business Badgers recently celebrated a big win at the Kohler Undergraduate Wisconsin Supply Chain Cup, a case competition held at Grainger Hall. Competing against a handful of other Wisconsin teams, the four-person squad of WSB students aced their preparation and presentation to take home the top prize. The win further cements WSB’s status as a leader in supply chain management education—something the school has excelled at for decades. In 1991, WSB established the Grainger Center for Supply Chain Management and began developing some of the nation’s first educational programs in the discipline. These days, supply chain management is one of the fastest growing majors on campus—and is diversifying. Today, 60% of students in the undergraduate supply chain management degree program are women.


Team Echo of UW–Madison took first place after participating in the Kohler Undergraduate Wisconsin Supply Chain Cup on Friday, February 23, 2024. From left to right: Lilly Polakott, Lily Peterson, Ryan Drew, and Zach Halter.

A record-setting Day of the Badger

On April 16 and 17, alumni, parents, and friends came together to support UW–Madison on Day of the Badger. Over the record-setting two days, more than 7,200 gifts were made across campus, resulting in $1.7 million raised for a wide assortment of causes and initiatives. At the Wisconsin School of Business, nearly 300 donors raised more than $118,000 to support experiential learning opportunities like case competitions, job shadows, and career treks. UW–Madison parents Jeff and Kathleen Lawrence, as well as Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean, came forward with generous participation matches to support the school’s efforts and inspire philanthropy from the Business Badger community.

Coming soon: WSB’s redesigned executive MBA

Starting in Fall 2024, the first cohort of students in WSB’s redesigned executive MBA program will embark on a path that combines a new curriculum, experiential learning, and an emphasis on skills like executive communication through co-curricular residencies. The goal of the degree, which can be completed in 18 months, is to put today’s business professionals on an accelerated path to the C-suite while offering unprecedented flexibility and value.

WSB alum receives prestigious entrepreneurship award

Congratulations are in order for Wisconsin School of Business alum Dorri McWhorter (BBA ’95), who was recently recognized with a 2024 Chancellor’s Entrepreneurial Achievement Award from the University of Wisconsin−Madison. This recognition is awarded to individuals with ties to UW–Madison who have contributed to economic growth and social good, served as entrepreneurial models for the UW community, and inspired the campus culture of entrepreneurship. McWhorter is the president and CEO of the YMCA of Metropolitan Chicago, and also serves on WSB’s External Advisory Board.

The Donor Digest is a quarterly round-up of stories made possible by gifts to the Wisconsin School of Business (WSB) Fund. Contributions to WSB help the school implement transformative learning experiences and curricula that uniquely prepare students for post-graduation success. Read past stories about donor impact and the power of philanthropy.

The post Donor Support Enhances Case Competition Excellence and More appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 21 May 2024, 08:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Business Students Gain Hands-On Experience in Generative AI Strategy
Generative AI is changing the nature of business. To be at the forefront, students need to prepare to be innovators who use this rapidly evolving technology to improve business. 

During an applied-learning workshop, Wisconsin School of Business graduate students spent a day learning from leaders with the consulting firm McKinsey & Company and getting hands-on experience creating marketing strategies with generative AI tools. 

Alex Singla, senior partner at McKinsey and co-leader of QuantumBlack, AI by McKinsey, led the activity and was joined by several McKinsey colleagues who shared their expertise during a panel discussion. 

The panelists discussed how companies can build and deploy generative AI to drive value, solve problems, and create unprecedented efficiencies.

“The panel shared valuable insights into the ethical considerations and best practices for using generative AI responsibly,” says Barbara Trujillo (MBA ’25), a full-time MBA student who participated in the workshop. “It sparked interesting discussions about the potential impact of generative AI on different industries and society. It prompted us to look at the importance of legal and risk management within the growing field of generative AI.”

As a consulting firm, McKinsey’s role is to help companies understand the value they can extract from AI effectively and responsibly, and how to sustain it. McKinsey also helps clients experiment, test, adopt, and scale AI quickly.

“With generative AI, we are talking with clients about where and how to play,” Singla says. “But in many ways, it’s also about helping mankind and humanity. The value that AI can deliver is exponential; that is the most inspiring part. So we are really investing in that topic.”

A few pieces of advice from Singla and Stephen Xu, associate partner at McKinsey: Experiment with AI. Learn what’s possible. Work as a team. 

“Think about it as a team sport,” Xu says. “I still read all the articles and develop my own knowledge, but I also surround myself with people who can go deeper than I can. Don’t feel like you have to learn everything. Do your part and surround yourself with others.”


Yugandar Caparala and Michael Rosplock laugh as they look at images that AI software produced during the applied-learning workshop with consulting firm McKinsey & Company on Feb. 9, 2024.

Students were able to draw on the panelists’ expertise in the interactive consulting activity where, working in teams, they used AI tools to create a marketing strategy and campaign for a new product. 

“I particularly appreciated the emphasis on ‘prompt engineering,’ stressing the need to collaborate with generative AI, not just rely on it. The dedicated activity on crafting effective prompts solidified this point,” says Smriti Luthra (MBA ’24).

Fellow student Johnny Gomez (MBA ’24) also shared this takeaway. “The workshop was both fascinating and inspiring. … This technology is poised to significantly enhance customer experiences and operational efficiencies, marking a new era of innovation and competitive advantage.”

The partnership with McKinsey and its leaders highlights WSB’s continued investment in the AI space and the school’s long history of collaborating with corporate partners in providing meaningful and innovative applied-learning experiences for students. 

The post Business Students Gain Hands-On Experience in Generative AI Strategy appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 22 May 2024, 13:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Wisconsin School of Business Hosts AI in Marketing Symposium
The Wisconsin School of Business recently hosted its first-ever symposium on artificial intelligence (AI) in marketing, a joint initiative of AI@WSB and the school’s Marketing Leadership Institute.

The national conference, “Symposium on Artificial Intelligence in Marketing,” was a “one-of-its-kind AI conference that focuses on modern AI methods and its implications for marketing research,” said Ishita Chakraborty, Thomas and Charlene Landsberg Smith Faculty Fellow and assistant professor of marketing. Chakraborty co-chaired the event with fellow WSB faculty member, Remi Daviet, assistant professor of marketing.

The two-day symposium featured keynote speaker Xiao Liu, an associate professor of marketing with New York University’s Stern School of Business.

“The AI symposium was attended by more than 60+ faculty and PhD students from universities all over the world: Wharton, Yale, Ivey Business School (Western University, Canada), Carnegie Mellon University, Harvard Business School, Purdue, Columbia, University of Texas at Dallas, Monash University (Australia), to name a few,” Chakraborty said. “The research presented included diverse topics like generative AI applications, new advancements in AI methods, AI and online platforms, and multi-modal data analytics. We had great participation from internal WSB departments as well.”

WSB’s investment in the AI space aligns with the University of Wisconsin–Madison’s RISE-AI, the Wisconsin RISE Initiative.

The post Wisconsin School of Business Hosts AI in Marketing Symposium appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 27 May 2024, 22:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: New, Standalone Entrepreneurship Major Allows for Deep Domain Expertise
Come Fall 2024, for the first time ever, Business Badgers will be able to major in entrepreneurship.

Since 2006, Wisconsin School of Business students were able to study it only as a named option under the larger management and human resources (MHR) major. Now, students can declare entrepreneurship as a standalone major. Management and human resource management will become standalone majors as well.

While this move will help “raise the profile of entrepreneurship and grow all three majors,” says Dan Olszewski, Goldberg Family Director of the Weinert Center for Entrepreneurship, the real benefit is for the students.

“The new entrepreneurship major is designed to be a good option for a double major,” Olszewski says. “It allows students to combine entrepreneurship with another functional expertise such as marketing or finance. This allows students to obtain deep domain expertise in a field but also augment that with knowing they want to start a business in the future, which makes for a really powerful combination.”

The entrepreneurship major includes a new class, “Strategic Innovation and Corporate Entrepreneurship,” designed by WSB faculty member Florence Honoré. After a successful pilot in Spring 2023, the course will be incorporated permanently into the curriculum.

“We’ve found that big companies are now valuing the entrepreneurial mindset so much more than they used to because they want the students, their future employees, to have that perspective. They realize that they need to be an innovative company to survive in the future, so firms are seeking that out.”
—Dan Olszewski

“This new class, with the focus on corporate entrepreneurship, will benefit the majority of students who are planning on using these tools at graduation in a larger company, versus starting their own business,” says Olszewski. Many students take roles in areas like product management, new product development, financial analyst, or marketer, he says, and graduates have joined high-profile companies ranging from Google to Goldman Sachs.

Olszewski says the entrepreneurial thinking taught at WSB—skills and mindsets characterized by curiosity, ambition, and creativity—is in high demand among employers.

“We’ve found that big companies are now valuing the entrepreneurial mindset so much more than they used to because they want the students, their future employees, to have that perspective. They realize that they need to be an innovative company to survive in the future, so firms are seeking that out.”

Similarly, experiential learning—applying what is learned in class to a problem or project—is an important component of the entrepreneurship major. Sample electives include courses from the Creative Destruction Lab and the Venture Creation class, where students learn to build and assess their own startups.

Experiential learning is a key WSB strategy across all undergraduate majors, and for good reason, Olszewski says. “Where you get the best learning is when you actually have to try to go do it.”

The new entrepreneurship major’s introductory course will include students from both the business school and students from across the rest of the campus. Most startup teams have a mix of different skill sets so this will provide new opportunities for students to work on cross-functional teams.

Management and human resource management majors prepare students for diverse professional pathways

As a result of the move to three separate majors, management and human resource management benefit from increased visibility.

The management major “sets students up to be promoted,” says Russ Coff, Thomas J. Falk Distinguished Chair in Business and chair of the Department of Management and Human Resources. “Students who are great at solving sales, finance, accounting, or operations problems eventually need to learn how to manage people. This major also prepares students for management training or rotational programs that recruit on campus.”

Coff says that with the new majors plus the growth of the consulting certificate, more courses are being offered in consulting, leading change, leading teams, strategic management, and people analytics.

On the human resource management major side, “we have deepened the HR knowledge base,” says Coff. “Our graduates are increasingly SHRM certified—ready to hit the ground running in an HR career.” The Society for Human Resource Management (SHRM) is the preeminent professional membership society for human resource management, and Business Badgers learn and have access to opportunities from WSB’s Strategic Human Resource Management Center that is SHRM-aligned.

In their courses, students in the major build human resource knowledge and know-how including on compensation, staffing, people analytics, negotiation, and diversity, which are all “essential to be successful HR professionals in modern organizations,” Coff says.

5 Student Entrepreneurs to Keep an Eye On

Gilson Family Fund Advances Mission of UW–Madison’s Entrepreneurship Science Lab

Distinguished Entrepreneurs Lunch Connects Students With Industry Experts

 

 

The post New, Standalone Entrepreneurship Major Allows for Deep Domain Expertise appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 30 May 2024, 12:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Mission-Oriented Leadership: The Benefits, the Challenges, and the Questions to Ask
If you ask Peter Faricy, a career shouldn’t just be about working. It should be about working toward something.

Faricy boasts an impressive résumé, which includes stints as an engagement officer at McKinsey & Company; two vice president positions at Amazon; and chief executive officer, direct to consumer at Discovery Channel. While he enjoyed his work with these companies, he couldn’t help but feel something was missing. He wanted to feel like he was really “making a contribution to the world.”

It was this desire that led him to become chief executive officer at SunPower Corporation, a residential solar power company.

“If you’re going to work so many hours, which all of us will the rest of our lives, it does feel rewarding to work on something that can make a real positive difference in the world,” he said.

At SunPower, Faricy embraced mission-oriented leadership. He recently shared his perspective on this strategy with MBA students, faculty, staff, and alumni as part of the M. Keith Weikel MBA Leadership Speaker Series at the Wisconsin School of Business.

What is mission-oriented leadership?

As the name suggests, mission-oriented leadership puts a company’s mission and values at the center of its operations.

“Mission-oriented leadership is when you focus on something in addition to just the financial results of the company,” Faricy explained. “It’s something that goes above who the leader of a company is. And it’s something that really focuses on … what’s the goal, what’s the dream of what you’re trying to go do.”

“Mission-oriented leadership is when you focus on something in addition to just the financial results of the company. It’s something that goes above who the leader of a company is. And it’s something that really focuses on … what’s the goal, what’s the dream of what you’re trying to go do.”
—Peter Faricy

This way of thinking resonates particularly with the younger generations of leaders, Faricy said—and its relevance is only growing.

“I think this mission-oriented leadership is becoming a more important part of being a great business leader.”

The pros: Why mission-oriented leadership works

Faricy shared his observations about why a mission-first approach to work isn’t just fulfilling—it’s also a smart business decision.

Employees are engaged.

Employees at mission-oriented companies are passionate about what they do, empowering leaders to build stronger teams.

“We had incredible engagement scores at SunPower, much better than any other company I’ve ever been a part of,” Faricy explained. “People love being part of a company that has a mission—they’re very proud of it. They wear it on their sleeve; they think about it when they’re not working; they think about it when they’re working. And so this employee engagement is a big asset.”

It attracts talent.

Mission-oriented leadership is an effective tool for recruiting, developing, and retaining talent. Sometimes, people are even willing to earn a smaller salary than they would at other companies.

Faricy recalled a time that he was recruiting an outstanding candidate, who also happened to have offers from Goldman Sachs and Amazon.

“We’re just this humble residential solar company—we couldn’t afford to pay this guy probably 50% of what he could have made at Goldman and 75% of what he could make at Amazon. But we ended up getting him to come to SunPower. And it was really because of this mission orientation.”

Employees are resilient in the face of adversity.

Faricy noted that even when the business environment is challenging, employees retain their focus on the mission.

“When you’re committed to something in your heart, in your life, you’ll work through tough times,” Faricy said. “I feel like mission-oriented companies really over-index on people that are strong and persistent. And when you hit tough times, they’re still with you, because they really see the bigger picture of a mission.”



The cons: Why mission-oriented leadership can be challenging

For all the advantages of mission-oriented leadership, Faricy admitted there are drawbacks too.

People can take on a nonprofit mindset.

At times, mission-oriented leadership can breed friction between the mission and delivering financial results. For instance, Faricy recalled fielding questions like: Why doesn’t SunPower put all the money in its foundation and give everyone in the U.S. free solar power?

“A lot of times, mission-oriented companies do attract people who love the mission, but may not love the financial part of it,” he said. “I think one of the critical parts is, is there a way for you to link those two things together?”

He continued, “What I would constantly try to say to people is, ‘Listen, the reason it’s a good idea for us to make money is we get to invest in the kinds of technologies that will make this problem easier and easier to solve over time, or it’ll allow us to expand the number of financial offerings we have, so that more and more people can afford residential solar over time.’”

There’s no place for egos.

Sometimes, it can be tricky to balance the needs of a company’s mission while recognizing individual performance.

“Mission-oriented companies, they don’t really respect the ego,” Faricy said. “If someone tries to pop up and pretend they’re king or queen of the of the company, everyone else is like, ‘Sit down.’ … You have to figure out a way to attract the right people—and people who have a need to have their ego as part of their role, these are often the wrong companies for them.”

“I feel like mission-oriented companies really over-index on people that are strong and persistent. And when you hit tough times, they’re still with you, because they really see the bigger picture of a mission.”
—Peter Faricy

There are limited opportunities for advancement.

Because employees at mission-driven companies are so engaged, they often want to stay long-term. That means fewer promotion opportunities exist.

“I think most people in human relations would say, ‘Way to go—low turnover is positive,’” Faricy said. “And it can be a positive for sure. But it can also be a challenge. Because if you want people to be able to grow and advance in their career, you need to create opportunities for them.”

Reflection: What mission-driven leadership means for you

Faricy challenged his audience to consider how mission-oriented leadership might impact their careers. To help them get started, he provided a series of reflection questions.

Does your company mission matter to you?

Should you think about that question as you explore opportunities? Will it influence which company you choose? Do you look at the mission statement before you interview with a company?

Should you incorporate the company mission into how you lead?

Whether or not the mission matters to you, does it matter to the people on your team? Would you be a more effective leader if it did matter to you and if you could speak to your team about the mission? Is there a way to bring the company together by collectively considering the mission?

How can you take advantage of the mission while minimizing any downsides?

Are there strategic steps you can take to help ensure being a mission-oriented leader ends up being positive?

M. Keith Weikel Leadership Speaker Series at the Wisconsin School of Business enables Wisconsin MBA students to interact with and learn from accomplished business leaders and alumni. Executives from both the private and public sectors are invited to campus to address students.

The series was established in 2004 with a gift by John J. Oros (BBA ’71) and his wife, Anne Wackman. Today, the series continues as the M. Keith Weikel MBA Leadership Speaker Series thanks to a gift by M. Keith Weikel (PhD ’66) and his wife, Barbara.

The post Mission-Oriented Leadership: The Benefits, the Challenges, and the Questions to Ask appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 06 Jun 2024, 12:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Wisconsin School of Business Announces 9th Annual “8 to Watch” Alumni Honorees
Madison, WI – The Wisconsin School of Business (WSB) proudly announces the latest cohort of exceptional alumni recognized as the “8 to Watch,” marking the ninth year of honoring outstanding Business Badgers making waves in their respective industries and beyond.

“Wisconsin School of Business alumni are known for their relentless drive to make an impact, and this year’s ‘8 to Watch’ honorees are no exception,” says Betsy Lundgren (BA ’03, MA ’05), director of alumni relations. “Each alum’s story captures their unique passions and dreams, and collectively, they exemplify the creativity, trustworthiness, and leadership that have become the hallmark of the Business Badger community. ”

“Each alum’s story captures their unique passions and dreams, and collectively, they exemplify the creativity, trustworthiness, and leadership that have become the hallmark of the Business Badger community. ”
– Betsy Lundgren (BA ’03, MA ’05)

Among this year’s distinguished honorees are:



Keith Agoada (BBA ’08) is helping to reshape the global agricultural supply chain, focusing on sustainability and social impact. His progression from campus greenhouse experiments to founding Producers Trust highlights the entrepreneurial opportunities available at WSB.

Read more…



Marcus Alston (MBA ’19) uses his human resources experience to build inclusive workplace cultures at Cisco. His transition from music studies to HR leadership reflects personal resilience and professional growth.

Read more…



Charlotte Du (MBA ’19) is a leader in alternative real estate investments at Nuveen with a commitment to impactful investing. Her diverse experiences, spanning from China to Wisconsin and beyond, underscore the valuable perspective she brings to the industry.

Read more…



Kelly Goldthorpe (MBA ’15) plays a significant role in product management at Peloton, contributing to the company’s growth and introducing new features. Additionally, Goldthorpe is dedicated to community service, as evidenced by her involvement in initiatives like Girls on the Run—a nonprofit aiming to enhance girls’ social, emotional, and physical skills to successfully navigate life experiences.

Read more…



Jenna Herr (MBA ’19), senior director of risk management and insurance at Equity Residential in Chicago, demonstrates dedication to ensuring safety and security in residential settings. Her personal journey from first-generation college student to leadership roles in risk management serves as a testament to perseverance and determination.

Read more…



Anders Larsen (BBA ’19) is at the forefront of technological disruption at Spotify—and is scaling new heights in leveraging artificial intelligence for global impact. His strategies have propelled Spotify’s growth in video podcasting and audiobooks, showcasing his prowess in product innovation.

Read more…



Kevin Pickett (BBA ’14) is a key player at Google, demonstrating a diverse skill set and strategic capabilities. His path from Onalaska, Wisconsin, to leading market strategies at Google highlights the power of a WSB education.

Read more…



Aleja Ross (BBA ’16), a dynamic leader in consulting at EY, stands out for her transformative work in redesigning and reinvigorating workforces to foster employee growth and success. Spearheading initiatives like Skills Foundry, Ross exemplifies the spirit of innovation and impact.

Read more…

The 8 to Watch honorees are announced annually in WSB’s biannual publication, Update magazine. For more information about the 8 to Watch program and past honorees, visit WSB’s website.

Forward media requests to:

Leiah Fundell Public Relations Manager, Wisconsin School of Business
Leiah.Fundell@wisc.edu

Leiah Fundell

Wisconsin School of Business Announces 9th Annual “8 to Watch” Alumni Honorees appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 12 Jun 2024, 15:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Marketing Professor Jan Heide Wins Fourth Louis W. Stern Award
Jan Heide, Michael E. Lehman Distinguished Chair in Business and a professor of marketing, is the recipient of the 2024 Louis W. Stern Award from the American Marketing Association’s (AMA) Interorganizational Special Interest Group, his fourth such award from the organization. The Stern Award recognizes an exceptional article published in a reputable refereed marketing journal that has made a significant contribution to the literature on interorganizational marketing or channels of distribution.

The Temporary Marketing Organization,” was published and ran as the lead article in the March 2019 issue of the Journal of Marketing.

The committee noted that the group’s paper is “highly original, breaking new ground in how we think of marketing organization broadly. Where past work focused on permanent organizations or long-term relationships, a significant, and growing, number of activities such as new product development, IT projects, events, or construction do align closely to either permanent organizations or long-term relations, for example because these activities are one-offs and due their distinct starting and endpoints.”

Four Stern Awards for Jan Heide, wow! A model colleague and an icon of the academy, Jan continues to amaze. He is a tremendous role model for all of our young faculty.
—Chair Michael D. Johnson

The committee also observed that the authors, “built new theory, for example by showing that Temporary Organizations consist of three different forms, each having their own unique characteristics, challenges, and benefits. They also advance a number of propositions to help others work in the area…the paper is conceptual, a rarity that raises significant potential to shape the field’s understanding.”

“Four Stern Awards for Jan Heide, wow! A model colleague and an icon of the academy, Jan continues to amaze,” said Michael D. Johnson, chair of WSB’s Department of Marketing. “He is a tremendous role model for all of our young faculty.”

Heide and co-authors will be formally recognized at the 2024 AMA awards luncheon in Boston this summer.

Heide has been the recipient of multiple AMA awards throughout his career. Most recently, he received the 2022 Mahajan Award for Lifetime Contributions to Marketing Strategy Research and was named an American Marketing Association Fellow, also in 2022. Upon receiving the Mahajan Award, the AMA wrote, “Heide is one of the most recognized marketing scholars in the world in the domain of B2B relationships. His seminal work on interorganizational governance spans many decades and has won many accolades, inspiring a generation of students and other scholars to pursue research in the domain. He has also guided several doctoral students who continue to impact the field significantly.”

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.

WSB’s Jan Heide Receives AMA Award for Lifetime Contributions to Marketing Strategy Research

WSB’s Jan Heide Named American Marketing Association Fellow

Jan Heide’s Pioneering Research Took the Business-to-Business Relationship From Niche to Mainstream

The post Marketing Professor Jan Heide Wins Fourth Louis W. Stern Award appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 25 Jun 2024, 16:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: Same-Sex Couples Find Challenges in a Wedding Industry Still Married to the Script
While stress and wedding preparation tend to go hand in hand, same-sex couples desiring a traditional wedding often encounter planning hurdles that couples who align with a gender binary—female bride, male groom—don’t, says Amber Epp, the Wilbur Dickson-Bascom Professor in Business and an associate professor of marketing at the Wisconsin School of Business.

Even though the number of same-sex couples choosing to legally wed continues to grow, same-sex couples find a void in the current traditional wedding marketplace, because “the wedding industry never had them in mind,” says Epp, whose research focuses on what happens when fields are disrupted.

“The wedding market has these gender ideals engrained into it, but it’s a gender binary,” Epp says. “When that gender binary is challenged, there’s a sense of disorientation about what’s coming next—what will be valued, what will be accepted, what will be legitimate. As consumers move through that space, they sometimes do feel out of sync, like their bodies, their gender roles, their gender expression just do not fit with the script. So, our study looks at the ways they try and resolve that and seek alignment for themselves and a positive experience of acceptance and fit.”

“The wedding market has these gender ideals engrained into it, but it’s a gender binary. When that gender binary is challenged, there’s a sense of disorientation about what’s coming next—what will be valued, what will be accepted, what will be legitimate.”
—Amber Epp

Epp and her study co-author Sunaina R. Velagaleti noted that while there’s no shortage of niche LGBTQ wedding resources and planners, the participants they spoke with “didn’t want to be in separate spaces,” says Epp. “It was very important to them that this was seen by the mainstream as a legitimate wedding in the mainstream space.”

Over a two-year period, Epp and Velagaleti conducted depth interviews with 30 same-sex couples across different areas of the U.S., as well as observed the wedding industry market itself, such as bridal expos, publications, and event planning businesses. Based on what they uncovered in the data, Epp and Velagaleti created a four-strategy framework that reflected how same-sex couples navigated the disrupted traditional wedding marketplace.

Here are the four strategies with excerpted (and de-identified) participant insights:

1. Confronting

Participants using a confronting strategy took advantage of a “teachable moment” to educate the wedding provider and/or address the lack of understanding by advocating for themselves on what they envisioned for their wedding.

Engaged couple Paul and Nick attended one of the premier bridal shows in a major U.S. city and were dismayed at how much it was still geared toward a gender binary.

Paul: “I actually filled out a form where in the notes section I said, ‘Do not ever call either of us the bride.’ I probably had more attitude about it than was necessary, but it was something that we had been dealing with so much…the guy responded, ‘I totally get it, I’ll never call either of you the bride, I should probably update my website.’ So I was really happy that I was able to call someone out on it and really hopefully get someone to realize that they could change their way of looking at their business.”

2. Masking

The polar opposite of confronting, participants employing a masking strategy chose to conceal their identity as a couple, often because they anticipated confusion or a negative reaction.

Frequently, masking took the form of couples shopping separately or shopping together as if they were friends instead of disclosing their relationship.

Lisa and Demi’s wedding fittings went on for months without ever revealing to the vendor that they were in fact marrying each other.

Lisa: “We had to get our dresses fitted. We went to the same place.”

Demi: “Oh, yeah! But we never.”

Lisa: “But we never told her that we were [a couple]—”

Demi: “You’re right. And we must’ve been going there for two months…she never said anything. She never asked, and we never said anything. And we didn’t go get fitted together. I said, ‘Oh, I’m sending somebody to you to get fitted.’…I don’t know why I didn’t say anything. I don’t know…It was the weirdest thing. Why didn’t I say anything? I don’t know.”

“I actually filled out a form where in the notes section I said, ‘Do not ever call either of us the bride.’ I probably had more attitude about it than was necessary, but it was something that we had been dealing with so much…”
—Paul, study participant

3. Collaborating

Participants who chose a collaborating strategy tried to work together with vendors and planners while simultaneously “discovering their desired gendered expressions,” the study noted.

Jake and Bruce worked with a jeweler to create their own rings; it was new territory for all, given there was no precedent for male engagement bands.

Bruce: “When you think about traditions, it’s always typically like the guy who proposes to his girlfriend, right? And then, you know, she gets an engagement ring…So when I was proposing to Jake, I thought it was really important though that I get a little sentiment on my finger, too. So, talk about being able to write your own rules…he [Jake] got a bling ring…[and] I always wanted a diamond.”

4. Experimenting

Participants employing an experimenting strategy both adhered to the traditional wedding script but felt free to depart from it, trying conventional wedding elements on for size and discarding them if they didn’t feel right.

Jocelyn was unsure about whether she really wanted to wear a dress in her wedding to Violet, and if so, what it might mean.

Jocelyn: “I think that there’s clearly an affirmation of fitting the norm in society… my guess would be on a subconscious level that we wanted to have that same affirmation of normalcy, of the process that everybody else probably does. I mean, any bride in a heterosexual marriage has certain things they go through and get into – bridal magazines and dah, dah, dah, dah, dah…I think that those decisions are…an operational thing going on behind my brain, but I would hope that I was not feeling that I needed, your, uh

[Violet: “Approval.”]

Jocelyn: “Yeah. Approval. But at the same time, everybody kind of wants to fit in. You know, have some normalcy of things that you feel are legitimate.”

VIDEO: Associate Professor Amber Epp on Family Decision-Making and Outsourcing Parenthood

The Power of Choice: What WSB Research Says About Decision-Making

Associate Professor Amber Epp: Family Decision-Making and Outsourcing Parenthood

The post Same-Sex Couples Find Challenges in a Wedding Industry Still Married to the Script appeared first on Wisconsin School of Business.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
User avatar
newsMadison
User avatar
Joined: 22 Nov 2013
Last visit: -
Posts: 448
Own Kudos:
1
Schools: AGSM '18
Schools: AGSM '18
Posts: 448
Kudos: 1
Madison MBA and Related Blogs 27 Jun 2024, 12:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
FROM Madison(Wisconsin) Admissions Blog: New Research from Wisconsin School of Business Highlights Severe Economic and Health Impacts of Hospital Mergers
(MADISON, WI) Stuart Craig, assistant professor of risk and insurance at the Wisconsin School of Business, has co-authored an illuminating study revealing the profound consequences of rising health care prices due to hospital mergers, as[url=https://www.wsj.com/health/healthcare/hospital-healthcare-prices-increase-employee-layoffs-9a4b90f6] recently featured[/url] in The Wall Street Journal.

“The majority of Americans get their health insurance through an employer-sponsored plan.  This creates an important link between the costs of healthcare and how workers are employed. Most people focus on a small part of their insurance premiums, but the reality is that their employers contribute most of it. That changes how they set wages and who they decide to employ,” said Craig. 

Namely, a 1% hike in healthcare prices:

[list]
[*]Reduces both payroll and employment at non-healthcare firms by approximately 0.4%.[/*]

[*]At the county level, a 1% hike slashes per capita labor income by 0.27%, drives up unemployment by 1%, decreases federal income tax receipts by 0.4%, and raises unemployment insurance payments by 2.5%.[/*]
[/list]

The study, “[url=https://stuartcraig.github.io/files/who_pays_for_rising_prices.pdf]Who Pays for Rising Health Care Prices? Evidence from Hospital Mergers[/url],” conducted by Craig alongside Zarek Brot-Goldberg (University of Chicago), Zack Cooper (Yale University), Lev R. Klarnet (Harvard University), Ithai Lurie (US Department of Treasury), and Corbin L. Miller (US Department of Treasury), underscores how middle-income workers outside the health care sector bear the brunt of escalating healthcare costs. 

Craig emphasized, “Rising health care costs represent tangible hardships for middle-income families, resulting in job losses. This also results in lost tax revenue and places strain on businesses that have to adjust their employment practices. We also know that losing your job can be very bad for your health, and tragically, we see that approximately one in 140 workers who lost their job because of these price increases dies from an opioid overdose or suicide within a year of separation.”

“Rising health care costs represent tangible hardships for middle-income families, resulting in job losses.”
– Stuart Craig

Moreover, these effects are borne unevenly across workers – concentrated among those making between $20,000 and $100,000 per year. 

“The fact that these price increases hit the middle of the income distribution hardest suggests that health care costs contribute to rising inequality in a meaningful way,” said Craig.

Additional findings include:

– Escalating healthcare prices lead to job losses, diminished tax revenue, and heightened federal spending on unemployment insurance.

– A hospital merger raising prices by 5% results in significant economic losses: $32 million in wages, 203 job losses, a $6.8 million reduction in federal tax revenue, and one death from suicide or overdose among affected workers.

– Between 2000 and 2020, over 1,000 hospital mergers occurred in the US, with minimal regulatory intervention, potentially overlooking substantial negative economic impacts.

“We also know that losing your job can be very bad for your health, and tragically, we see that approximately one in 140 workers who lost their job because of these price increases dies from an opioid overdose or suicide within a year of separation.”
– Stuart Craig

In a complementary study, “[url=https://www.aeaweb.org/articles?id=10.1257/aeri.20230340]Is There Too Little Antitrust Enforcement in the US Hospital Sector?[/url]“, published earlier this year in AER: Insights, Craig delves into the regulatory landscape. Despite a surge in hospital mergers, the Federal Trade Commission (FTC) has intervened minimally, blocking only 13 out of over 1,000 mergers from 2002 to 2020. This disparity raises urgent concerns about the effectiveness of current antitrust regulations.

Rigorous analysis of insurance claims data exposes how hospital consolidations lead to substantial post-merger price hikes, burdening consumers with an estimated annual increase of $204 million in hospital spending among privately insured individuals. These findings underscore the critical need to reassess antitrust enforcement practices, particularly in health care, where market consolidation can severely impact affordability and access to essential services.

“Our research underscores the need for more stringent antitrust enforcement to safeguard not only the economy but also the lives and livelihoods of American workers.”
– Stuart Craig

“Unchecked hospital mergers have profound implications that extend well beyond the health care sector,” said Craig. “Our research underscores the need for more stringent antitrust enforcement to safeguard not only the economy but also the lives and livelihoods of American workers.”

For more information on these studies and their implications, or to arrange an interview with Professor Stuart Craig, please contact:

Leiah Fundell Social Media & Public Relations Manager, Wisconsin School of Business
[email=leiah.fundell@wisc.edu]leiah.fundell@wisc.edu[/email]

The post [url=https://business.wisc.edu/news/new-research-from-wisconsin-school-of-business-highlights-severe-economic-and-health-impacts-of-hospital-mergers/]New Research from Wisconsin School of Business Highlights Severe Economic and Health Impacts of Hospital Mergers[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
   1  ...  13   14   15   16