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Alumni Webinar Series: Thriving in Retirement [#permalink]

08 Dec 2021, 09:00

FROM Madison(Wisconsin) Admissions Blog: Alumni Webinar Series: Thriving in Retirement

Entering retirement can be a difficult adjustment. The momentum of your career doesn’t have to come to a full stop once you reach this milestone. While it may seem different, there are many ways to find rich and fulfilling opportunities outside of a full-time career. During this webinar, retired Business Badgers Nancy Ballsrud (MBA ’75), Roger Ervin (MBA ’09), and Ann Schwister (BBA ’89) offer advice for those looking for ways to thrive during their post-career stage.

Get involved on a board

Joining a board is a great way to stay involved during your post-career stage. When deciding what kind of board to get involved with, ask yourself if you want to try something new, or use the skills honed during your career to add value from your industry. Make sure you understand the time commitment between meetings, committee work, and optional responsibilities like chairing a committee. Ballsrud suggests starting small to get your foot in the door, and taking on more responsibility when you feel you’re ready. If you’re hoping to join a corporate board, Schwister stresses the importance of patience and networking. It might take a while to find the right fit.

Find a mentorship opportunity

Mentoring is a great use of time and skill during retirement. It’s a way to give back and see others benefit from lessons you’ve already learned. Before becoming a mentor, think about if it’s the right fit for you. Ervin suggests looking for mentees at community organizations, corporations you are or were involved with, or within the UW–Madison community. After finding a mentee, it’s also important to set parameters about what the mentorship entails so it can be effective for both parties.

Try your hand at guest lecturing or teaching

Guest lecturing and teaching are valuable ways to contribute your knowledge and expertise to the younger generation. To start, identify what your core competency is and determine how it can be scaled into a course. All of our panelists suggest starting small by guest lecturing first before deciding if you’d like to have a more structured teaching commitment. Ervin mentions that teaching isn’t something to take lightly. It’s a large responsibility to be in charge of what students are learning and requires significant preparation.

Nancy Ballsrud (MBA ‘75) retired in 2008 after a 34-year career with Cargill, primarily in international finance. Since retirement Ballsrud has shifted her focus to nonprofit board management, consulting, and guest lecturing on currency risk management at the Wisconsin School of Business and other universities. She has served on several boards including the Wisconsin Foundation and Alumni Association Board, the Board of Visitors at the Veterinary School of Medicine at UW–Madison, and is also a member of the UW Women’s Philanthropy Council.

Roger Ervin (MBA ’09) is an accomplished global operating executive with experience in the public and private sectors. He recently retired as president and chief executive officer of Blumont, a leading government contractor, and was secretary of the Wisconsin Department of Revenue from 2007 to 2011. Ervin is currently an adjunct associate professor of public affairs at the Robert M. La Follette School of Public Affairs at UW–Madison.

Ann Schwister (BBA ’89) served as vice president and chief financial officer at Procter & Gamble, and vice president and CFO at Global Oral Care prior to her retirement. Schwister was responsible for creating strategies to win in the rapidly changing North America digital and traditional retail environment. Her passion is helping organizations grow sustainably. She currently serves on the boards of PARTS iD (NYSE American: ID) chairing the audit committee, Haskell, and the Greater Cincinnati Foundation chairing the community strategies committee. She is also an emeritus member of the WSB Dean’s Advisory Board as well as the WSB Diversity Advisory Board.

The post Alumni Webinar Series: Thriving in Retirement appeared first on Wisconsin School of Business.

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Alumna Theresa Hammond Honored by Accounting Department [#permalink]

15 Dec 2021, 10:00

FROM Madison(Wisconsin) Admissions Blog: Alumna Theresa Hammond Honored by Accounting Department

Wisconsin School of Business alumna Theresa Hammond (MBA ’89, PhD ’90), whose groundbreaking research has focused on underrepresented minorities in the accounting profession, was named the Department of Accounting and Information Systems’ Distinguished Alumna at its annual awards ceremony this fall.

Hammond is a professor of accounting at San Francisco State University.

Theresa Hammond
“She represents us well. She’s someone to be proud of,” says Mark Covaleski, the Richard J. Johnson Chair of the Department of Accounting and Information Systems and Hammond’s dissertation chair. “Her passion is tremendous. That’s why she’s a great teacher and that carries over into her research.”

As a doctoral student at the Wisconsin School of Business, Hammond arrived with a commitment to research the experiences of the first Black CPAs and to share their stories. Her dissertation became the basis of her book, A White-Collar Profession: African-American Certified Public Accountants.

“It was a risk,” Covaleski says. “There was no such thing as DEI (diversity, equity, and inclusion) then. It was not considered a sensible research topic, but she was not going to be stopped.”

As a PhD student, Hammond traveled throughout the U.S. to find and interview early Black CPAs. She spoke with nearly half of the first 100 Black men and women who passed the CPA exam.

“She believed in it and she was going to tell their stories before they passed away,” Covaleski says.

Hammond continues to be a sought-after speaker and resource about minority underrepresentation in the accounting profession. Earlier this year, she was featured in a Journal of Accountancy podcast discussing her research.

Beyond her research, Hammond has also been honored for her teaching. She received outstanding teaching awards as a graduate student at UW–Madison and at Boston College, where she served as department chair.

“She’s doing what she got into academia for 30 years ago and has not lost sight of her commitment to her students and the profession,” Covaleski says.

The post Alumna Theresa Hammond Honored by Accounting Department appeared first on Wisconsin School of Business.

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The Business of Cheese: Experts Weigh in on Supply Chain, Sustainabili [#permalink]

16 Dec 2021, 14:00

FROM Madison(Wisconsin) Admissions Blog: The Business of Cheese: Experts Weigh in on Supply Chain, Sustainability, and Their Cheese of Choice

No industry, not even the cheese industry, is immune to the current barriers affecting business in the U.S. today. Labor shortages, supply chain disruption, and consumer buying trends were among the topics discussed at The Business of Cheese virtual event hosted by the Wisconsin School of Business on Tuesday, December 14.

Business Badgers Amy Janke (BBA ’90), corporate controller at Marathon Cheese, and Todd Koss (MBA ’95), chief executive officer of Grande Cheese, delivered insights from how supply chain disruption is affecting processes to how to balance innovation with delivering a product steeped in tradition.

The discussion wasn’t complete without a shout out to the speakers’ favorite types of cheese.

“I like it all. But, for you, I will narrow it to one—Parmesan,” says Janke.

“Burrata is a hollow fresh mozzarella shell filled with cream and fresh shredded mozzarella,” says Koss. Good Burrata is like a gift from heaven.”

The post The Business of Cheese: Experts Weigh in on Supply Chain, Sustainability, and Their Cheese of Choice appeared first on Wisconsin School of Business.

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Environmental Performance Boosts Market Value, But a Firm’s Collective [#permalink]

16 Dec 2021, 17:00

FROM Madison(Wisconsin) Admissions Blog: Environmental Performance Boosts Market Value, But a Firm’s Collective Reputation May Sink It

As it turns out, maybe you should give a darn about your bad reputation—at least if you’re a major corporation. A study on corporate sustainability by Ann Terlaak of the Wisconsin School of Business suggests that while environmental performance matters, so does whether its organizational structures are perceived to be unethical.

Terlaak, an associate professor of management and human resources, and co-authors Seonghoon Kim and Matthew Potoski of the University of California–Santa Barbara, found that while markets generally value strong environmental performance, they value it less if a firm belongs to an “organizational form” that is associated with unethical behavior.

Organizational forms are classes of organizations that audiences perceive as similar in their core features. One such organizational form is business groups, with firms that are part of a business group sharing family ties and ownership stakes that connect each firm to its business group’s founder. Samsung and Hyundai are two prominent examples of large Korean business group firms.

WSB’s Ann Terlaak

“Markets pay attention to a company’s positive environmental performance not only because it can lower firm risks or increase efficiencies but also because it may ‘signal,’ or communicate, that this company has a higher degree of integrity and holds itself to a higher standard than other companies do,” Terlaak says. “That’s an attribute that is generally a little harder for markets to decipher, so markets use more visible indicators like environmental performance instead. But if a company is part of an organizational form with a dubious reputation ethically, then that creates a signaling conflict where the markets downgrade the value they place on the firm’s superior environmental performance record.”

For the study, Terlaak and her co-authors examined publicly available data from 155 South Korean firms over a 10-year period. Their data differentiates between corporations with western-style governance structures and corporations with family ties connecting them to a business group. Due to such ties and frequent scandals, public trust in business groups and their affiliated firms is low.

Using data from Korea’s Greenhouse Gas (GHG) General Information Center, which requires firms that exceed certain levels of greenhouse gas emissions to report their information, Terlaak found that while improved environmental performance tended to increase a firm’s market value, the increase in value was smaller if the firm belonged to an organizational form reputed to be unethical. That said, for firms that are part of a poorly reputed organizational form, they may be able to undo some of the reputational damage by purposefully distancing themselves from the core image problem. For example, market discounts on improved environmental performance were smaller for business group firms that had put into place CEOs without any family ties to other business group firms.

Terlaak says the study holds important implications for both managers and policymakers, including the difficulty for managers to accurately assess financial returns for improving their firms’ environmental performance. “The business and sustainability field has long recognized that the question of ‘Does it pay to be green?’ is too simplistic,” Terlaak says. “Sometimes it pays, and sometimes it does not pay. So instead we need to examine ‘When does it pay to be green?’ Equipped with that knowledge, policymakers can set boundary conditions that better foster corporate sustainability, and managers can get a better sense of when and how improvements to their environmental performance will pay in the short run.”

Read the paper: “Corporate Sustainability and Financial Performance: Collective Reputation as Moderator of the Relationship Between Environmental Performance and Firm Market Value” published in Business Strategy and the Environment.

Ann Terlaak is an associate professor in the Department of Management and Human Resources at the Wisconsin School of Business.

The post Environmental Performance Boosts Market Value, But a Firm’s Collective Reputation May Sink It appeared first on Wisconsin School of Business.

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WSB Doctoral Accounting Student Derek Christensen Wins First-Ever FASB [#permalink]

20 Dec 2021, 10:00

FROM Madison(Wisconsin) Admissions Blog: WSB Doctoral Accounting Student Derek Christensen Wins First-Ever FASB Emerging Scholar Award

Derek Christensen (PhD ‘24), a doctoral student in the Department of Accounting and Information Systems at the Wisconsin School of Business, is the first recipient ever to be honored with the Emerging Scholar Award from the Financial Accounting Standards Board (FASB).

“Derek was selected as the winning nominee by the five judges on the Selection Committee for his dissertation thesis topic addressing lease accounting,” said FASB Board Member Christine A. Botosan. “Ideas like Derek’s are exactly the kind of high-quality research this award program was established to recognize.”

Professor Tom Linsmeier, Christensen’s dissertation committee chair, noted Christensen’s exceptional promise as a researcher in his nomination letter, writing that he is “passionate about understanding the research context deeply and motivated to provide new insights for researchers, standard setters, practitioners, and students.”

WSB’s Derek Christensen (PhD ‘24)

Linsmeier, the Thomas G. Ragatz Accounting and Law Distinguished Chair, says that Christensen’s award “recognizes that his dissertation work is consistent with the Wisconsin Idea, one of the longest and deepest traditions at the University of Wisconsin–Madison, that holds that education should influence people’s lives beyond the boundaries of the classroom. We are very pleased at this early stage of his career that Derek’s scholarship is being recognized for the potential contribution it provides to accounting policymakers in the nation and around the world.”

“We couldn’t be more proud that Derek was selected by the FASB as the first recipient of the Emerging Scholar Award,” says Christensen’s advisor, Dan Wangerin, the David J. Lesar Professor in Business and an associate professor of accounting and information systems at WSB. “For decades, the faculty and PhD students in our financial accounting group have taken great pride in research that can advance the accounting profession and make a difference. When our research helps standard setters like the FASB make better-informed policy decisions, we know our work is making an important impact. This award is a testament to the outstanding scholarly work that Derek is pursuing in our PhD program.”

Christensen, CPA, received his Bachelor of Science in Accounting and Master of Accountancy degrees from the University of Denver. Prior to entering the PhD program at the University of Wisconsin-Madison, he served as an advisory senior consultant for Deloitte LLP in Denver. His research interests include archival-based research at the intersection of financial reporting and operational decisions with a focus on lease accounting.

Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the U.S. Securities and Exchange Commission as the designated accounting standard setter for public companies.

The post WSB Doctoral Accounting Student Derek Christensen Wins First-Ever FASB Emerging Scholar Award appeared first on Wisconsin School of Business.

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Photos: Highlights of 2021 at the Wisconsin School of Business [#permalink]

21 Dec 2021, 14:00

FROM Madison(Wisconsin) Admissions Blog: Photos: Highlights of 2021 at the Wisconsin School of Business

A moment may be fleeting, but photos captured offer lasting memories for years to come. The Wisconsin School of Business had plenty to celebrate in 2021: the return of in-person classes, a robust group of new faculty hires, a Homecoming Bash at Grainger Hall, and the largest, most diverse incoming class of Business Badgers—to name just a few hallmarks of the last twelve months. Below are some favorite photos from WSB senior photographer, Paul L. Newby II.

Frost-covered trees create a winter wonderland outside of Grainger Hall in January.

Shawn Michels (BBA ’18) is among the WSB alumni recognized in the School’s annual 8 to Watch feature in Update magazine. Michels is the Founder and CEO of the medical device company, Steady Shot. Steady Shot is an add-on to diabetics’ insulin pens that enables people to inject themselves more easily.

Eleven new faculty members with in-demand expertise joined WSB this academic year, including Aziza Jones (BBA ’13), the Jeffrey J. Diermeier Faculty Fellow and an assistant professor of marketing. Jones researches branding, community, and privacy.

WSB welcomed the largest and most diverse incoming class this fall, pictured above being greeted by Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean.

Masked and ready to learn. WSB students gather for in-person class in September.

WSB student Angie Kettleson (BBA ’21) grabs a quiet spot to study in Grainger Hall’s Learning Commons during the start of the fall semester.

Mike Schroeder (BBA ‘79), president-private wealth management at Baird, meets with the first cohort of Baird Scholars at Grainger Hall.

Kyle Nakatsuji (MBA ’11, JD ’12), founder and CEO of Clearcover, appeared in the Fall/Winter 2021 issue of Update magazine.

Marisa Palmer (BS ’99), senior lecturer in finance, teaches in WSB’s Finance and Analytics Lab in October.

WSB opened a Multicultural Center in Grainger Hall, a hub for conversation and cocurricular programming around diversity, equity, and inclusion. Students enjoyed the space during a kickoff event in October.

WSB’s traditional Homecoming Bash was back this fall after a hiatus due to COVID-19. Jason Makowski (MBA ’18) and his daughter, Ella, grabbed a photo with Bucky Badger while enjoying the activities.

Marjorie Scott (MBA ’12), and her friend Janel Gill, right, enjoyed the Homecoming Bash before watching the Wisconsin Badgers take on the Iowa Hawkeyes.

WSB graduate Dylan Koeshall (BBA ’21) celebrates with Bucky Badger and his younger brothers during WSB’s Winter Commencement Celebration in December.

The post Photos: Highlights of 2021 at the Wisconsin School of Business appeared first on Wisconsin School of Business.

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WSB’s Most-Read Stories of 2021 [#permalink]

21 Dec 2021, 15:00

FROM Madison(Wisconsin) Admissions Blog: WSB’s Most-Read Stories of 2021

From the arrival of talented new faculty to a groundbreaking entrepreneurship science lab to an innovative initiative that puts undergraduates in the driver’s seat for career success, 2021 was an exceptional year for the Wisconsin School of Business. Here’s a look at some of our top stories of the year based on readership.

The New Minds of Business: 11 Forward-Thinking Faculty Join the Wisconsin School of Business

Eleven new faculty members join WSB, bringing research expertise, innovation, and teaching excellence while building upon the School’s growing investments in STEM and data analytics.

WSB Launches Undergraduate Career Forward Program

A collaborative and innovative initiative designed to give WSB’s 3,000-plus undergraduate students the tools and experiences needed to achieve their individual career goals, the program lets students discover their own career paths, launch plans into action, and track progress through an interactive app.

Badger Startup, Vibez Golf Club, Aims To Change How the Game of Golf Is Played

Business Badger Noe Vital Jr. (BBA ’15) and his eight co-founders hope to make golf more approachable to all through their startup, Vibez Golf Club.

WSB Invests in Product Management Track and Marketing Technology Tracks, Positions Students To Address Complex Challenges Post-MBA

WSB invests in new career paths and two new specializations—marketing and product management—to equip graduate students for a bright future within the technology industry.

The New Vision for Finance at the Wisconsin School of Business

The Badger mindset, inclusive leadership, and quantitative success are some of the key characteristics that define WSB finance students out in the professional world.

WSB Faculty and Staff Honored for Excellence in Teaching, Research, Innovation, and Service

The School celebrates outstanding faculty and staff during the annual awards ceremony for teaching, research, innovation, and service.

Groundbreaking Entrepreneurship Science Lab Identifies, Fosters Student Entrepreneurs

A new lab at the University of Wisconsin–Madison is mobilizing the entrepreneurial ecosystem by identifying the conditions that create student entrepreneurs.

Spring 2021 Commencement: Business Badgers Reflect on the Wisconsin School of Business Experience

What makes one’s college career special? With graduation just days away, notable Business Badgers reflect on their time at the Wisconsin School of Business.

Net Impact Sustainability Competition Helps Wisconsin MBA Students Change the Planet, One Project at a Time

Now in its second year, the Net Impact competition offers students the opportunity to take what they are learning in the classroom and apply it to real-life green challenges: decreasing WSB’s environmental footprint, reducing its operating costs, and improving the School’s social impact.

Deep Ties and Connections to UW–Madison Bolster Creative Destruction Lab Launch in Wisconsin

WSB is home to a new partnership with the Creative Destruction Lab that positions the University of Wisconsin–Madison to further spur innovation, economic startup opportunity, and growth.

The post WSB’s Most-Read Stories of 2021 appeared first on Wisconsin School of Business.

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WSB Launches Trusted To Lead Campaign to Inspire the Next Generation o [#permalink]

04 Jan 2022, 08:00

FROM Madison(Wisconsin) Admissions Blog: WSB Launches Trusted To Lead Campaign to Inspire the Next Generation of Business Leaders

The Trusted To Lead campaign celebrates a different way of doing business through the stories of individuals who are trusted to lead when there is no blueprint.

At a time when the stakes have never been higher, the Wisconsin School of Business is developing, celebrating, and inspiring trusted leaders.

The campaign features six Wisconsin School of Business alumni from varied backgrounds and career paths—ranging from a president at Warner Brothers, to a CFO and growth officer at Audible, to a military veteran reinventing corporate philanthropy. These individuals are innovators within some of the most recognized brands, entrepreneurs on a mission to disrupt industries, and trailblazers who are driven to have an impact far beyond themselves.

Through videos and digital content, the Trusted To Lead platform shares the stories of these leaders and their unique approaches to business. Their paths started at the Wisconsin School of Business at the University of Wisconsin–Madison.

Trusted To Lead Ambassadors

Sennai Atsbeha, VP Brand Marketing, North America, Gymshark – Shaping brands that shape the future.
Cynthia Chu, Chief Financial and Growth Officer, Audible – Leading a new era of digital media.
Kyle Nakatsuji, Founder and CEO, Clearcover – Reinventing the insurance industry.
Reena Vokoun, Founder and CEO, PassionFit – Empowering others through wellness.
Jake Wood, Founder of Groundswell and Team Rubicon – Launching companies that make an impact.
Jim Wuthrich, VP Content Distribution, Warner Media – Driving innovation in the entertainment industry.

The alumni featured in the Trusted To Lead campaign offer a clear call to individuals interested in pursuing a new path in business: “Be part of the next generation of business leaders. Do business differently. Find yourself out in front.”

Meet the Trusted to Lead ambassadors

Addressing fast-paced changes in business

Business is changing. Digital advances, industry disruptions, and the global pandemic are creating a new future. WSB aims to inspire future leaders, showing that there is not just one path into a business career.

WSB is on a mission to continuously reinvent business education programming. Over the last two years, the School has built expertise in emergent trends in machine learning, digital marketing, business analytics, and strategic management to continually evolve its curriculum to address market demands. WSB has introduced new classes and career tracks and at the same time, launched new agile programs including STEM-designated degrees, four new specialized master’s programs, a hybrid MBA, and on-demand badges.

A place where trusted leaders grow and thrive

In an ever-shifting world, there’s something uniquely consistent and differentiated in the Wisconsin way, something that influences people’s lives beyond the boundaries of the classroom. It’s a blend of Midwestern humility and global influence, along with an unwavering commitment to moving forward, together.

With this campaign, WSB champions an under-leveraged reputation as an incubator for CxOs and entrepreneurial founders. Employers benefit from a value-driven approach, strong work ethic, and entrepreneurial and leadership skills. There’s a focus on developing students to be the team member everyone seeks out. The one who is dependable and delivers, and surpasses expectations as an unrelenting seeker of a better path forward. At Wisconsin, there’s pride in choosing collaboration over competition. It is exactly why WSB graduates succeed and perhaps why the University of Wisconsin consistently ranks as a top producer of Fortune 500 CEOs.

WSB believes in empowering people of all backgrounds to thrive in business and make businesses thrive. By leaning into their passions and individual values, the alumni featured in this campaign are making contributions few others can make. Through videos and digital content, WSB is highlighting possibilities in business and encouraging the next generation of trusted leaders.

Interested students can look at undergraduate, graduate, and executive education programs by browsing the School’s website.

The post WSB Launches Trusted To Lead Campaign to Inspire the Next Generation of Business Leaders appeared first on Wisconsin School of Business.

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On Leadership: Key Takeaways from WSB’s Leadership Speaker Series [#permalink]

10 Jan 2022, 17:00

FROM Madison(Wisconsin) Admissions Blog: On Leadership: Key Takeaways from WSB’s Leadership Speaker Series

What qualities define a good leader? As legendary football coach Vince Lombardi put it, “Leaders are made, they are not born.” At the Wisconsin School of Business, developing strong leaders is a core value and driving force behind business education. Each year, the M. Keith Weikel MBA Leadership Speaker Series at the Wisconsin School of Business invites some of the biggest names in industry—many of whom are distinguished alumni—to share their career insights, business acumen, and life experience with the Wisconsin MBA student audience.

Read on for excerpts about leadership from some of WSB’s featured speakers.

Help others shine

For Adonica Randall, president and chief problem solver of Abaxent, an MBE/WBE-certified technology solutions company, management means helping others learn to shine as they pursue their own professional goals and growth. It’s about coaching others, not just leading.

“A coach assumes that ‘I see some things and together we’re going to work on optimizing you.’”

Prioritize people

If you’re a manager, your time and attention can be pulled in a million different directions if you aren’t careful. But don’t let the pendulum swing too far the other way, either, where you’re prioritizing your to-do list over people, says Chris Westfall, a business coach, U.S. elevator pitch champion, and a regular contributor to Forbes magazine.

“Put down the phone to pick up the conversation. I write about why people leave organizations, and the reason the research points to is that they don’t feel heard or understood. Take a deep dive into listening. Get curious about the people around you.”

Make time to mentor

When Kohl’s Chief Financial Officer Jill Timm started with the company over 20 years ago, she was an accountant and the brand was 200 Midwest stores with no web presence. Today, Kohl’s boasts 1,200 stores nationally and offers an omni-channel customer experience. As she grew with the company, Timm learned about leadership from key mentors like former Kohl’s CFO Wes McDonald, and she looks for those mentorship opportunities to share what she was given.

“It’s not going to be about your expertise at these levels, it’s going to be about how you mentor, how you lead, and how you decision-make.”

Take decisive action

Many might say they’ve traversed some corporate battlefields, but former Marine and Business Badger Jake Wood (BBA ’05) has experienced the literal ones, too: he served in Afghanistan, received the 2018 ESPY Awards’ Pat Tillman Award for Courage, and was named a CNN Hero. Wood, now founder and CEO of Groundswell, also founded Team Rubicon, a global nonprofit that assists in disaster zones. He shares how a ‘bias for action’—being action-and solution-oriented and not easily deterred—helped the early members of Team Rubicon make a difference when disaster struck in Haiti.

“We didn’t have much of a plan. We certainly didn’t have many resources. But what we did have was a bias for action, the training and the experience that we brought with us from the Marine Corps and our time overseas, and this deeper desire to help people.”

CALLOUT BOX:

The M. Keith Weikel Leadership Speaker Series at the Wisconsin School of Business enables Wisconsin MBA students and alumni to interact with and learn from accomplished business leaders. 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 On Leadership: Key Takeaways from WSB’s Leadership Speaker Series appeared first on Wisconsin School of Business.

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Merging Art and Finance, WSB’s Brad Chandler Demystifies NFTs During L [#permalink]

12 Jan 2022, 15:00

FROM Madison(Wisconsin) Admissions Blog: Merging Art and Finance, WSB’s Brad Chandler Demystifies NFTs During Latest UW Now Livestream

Not everyone knows what NFTs actually stand for—non-fungible tokens—but most remember hearing about an artist known as “Beeple” (former Wisconsinite Mike Winkelmann), who made a mind-boggling $69 million for the sale of his NFT digital collage to prestigious auction house, Christie’s, in 2020.

NFTs are a new type of digital asset built on the blockchain and have been around since 2017, says Brad Chandler, director of the Nicholas Center for Corporate Finance and Investment Banking at the Wisconsin School of Business.

“I think they’re interesting because they bring together these two worlds that were rarely brought together before—art and finance. Anything that can bring together art and finance, for me, is something that I’m really curious about.”

Chandler shared these and other insights—including the Beeple story—during the virtual event, “The UW Now Livestream: Blockchains, Cryptocurrencies, and NFTs.” He walked the audience through one of the modules from his WSB cryptocurrency course that he has taught since 2018.

Chandler was joined by Grant Yun (BS ‘18), a cancer researcher and digital artist specializing in non-fungible tokens.

The live YouTube event was hosted by Mike Knetter, president and CEO of the Wisconsin Foundation and Alumni Association (WFAA) and former WSB dean. Watch the full video and read a Wisconsin Alumni Association article in which Chandler discusses NFTs:

The post Merging Art and Finance, WSB’s Brad Chandler Demystifies NFTs During Latest UW Now Livestream appeared first on Wisconsin School of Business.

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Whether Trial by Fire or Priceless Opportunity, WSB Study Highlights V [#permalink]

13 Jan 2022, 14:00

FROM Madison(Wisconsin) Admissions Blog: Whether Trial by Fire or Priceless Opportunity, WSB Study Highlights Value of Accounting Interns’ ‘Lived Experience’

Accounting is not the only profession that uses an apprentice-based model of learning; many fields— such as medicine and law—understand the value of learning by doing and mastering skills in a real-world environment through the student internship experience.

But pervasive shifts have buffeted the accounting profession over the last four decades, resulting in labor market tensions and interns’ unabashed willingness to challenge previously held norms. Within this changing reality, accounting firms engage in intense competition to ensure a robust talent pipeline, and interns engage in sometimes sophisticated cost-benefit calculations about what firms offer and expect, and what they as employees must endure to obtain a coveted line item on their résumés.

A recent study by Mark A. Covaleski, the Richard J. Johnson Chair of the Department of Accounting and Information Systems and the Robert Beyer Professor in Accounting, and Karla M. Zehms, the Ernst & Young Professor in Accounting and the associate dean of research and PhD programs, both of the Wisconsin School of Business, examines the lived reality of public accounting interns within firms, as well as the perceived costs and benefits.

WSB’s Karla M. Zehms

Along with co-author Professor Christine Early of Providence College, the study suggests evidence of four primary formative experiences for interns: ethical dilemmas, pressures to conform and perceptions of fairness (or lack thereof), gender challenges for female interns, and unpleasant reality shocks.

“Our evidence shows that benefits include knowledge acquisition for interns and readily available labor for firms,” Zehms says. “Costs include ethical dilemmas, pressures to conform, reality shocks, and shared suffering for interns, along with training investments and turnover for firms.”

Study context and parameters

Zehms says the study provides details on a replicable internship model that has been sustainable for over 20 years at the University of Wisconsin–Madison, and represents a detailed example relevant to understanding the apprenticeship model of public accounting. The socialization process—the journey of student to intern to professional—begins with Wisconsin’s unique Masters of Accountancy (MAcc) program. A faculty subcommittee interviews every applicant and qualifies students for conditional acceptance, pending Graduate School admissions procedures and a successful ‘match’ with a participating internship firm. The result of this process is that the internship is set up to succeed in terms of careful planning, screening, and mutual assessments of intern-firm fit.

For the study, Zehms and her co-authers collected survey evidence from 257 students who completed a ‘busy-season’ internship in the semester immediately prior to starting the MAcc program

(January-April of 2014, 2015, and 2016). After reflecting on insights from that evidence, they then interviewed another 30 MAcc students who had returned from their internships following the busy season of 2017 to gain in-depth qualitative evidence about the ‘lived reality’ of the internship experience, focusing on insights about anticipatory socialization, formative experiences and assimilation, along with differential expressions of both success and painful instances of failure.

The Lived Reality of Public Accounting Interns” published in Journal of Accounting Education

Karla M. Zehms is the Ernst & Young Professor in Accounting at the Wisconsin School of Business.

Mark A. Covaleski is the Richard J. Johnson Chair of the Department of Accounting and Information Systems and the Robert Beyer Professor in Accounting

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The Vision, Skills, and Mindset You Need for a Career in Tech [#permalink]

18 Jan 2022, 13:00

FROM Madison(Wisconsin) Admissions Blog: The Vision, Skills, and Mindset You Need for a Career in Tech

Technology has redefined communication, reimagined the parameters of work and home, and changed the way we travel, shop, and organize our lives. It’s made our lives so much easier, and yet the future impact of tech on society is unknown.

Business will undoubtedly play a massive role in that impact—the [url=https://companiesmarketcap.com/software/largest-software-companies-by-market-cap/]top ten companies in the world today[/url] are tech-based businesses, and tech job postings are experiencing rapid growth. To support tech businesses that flourish and provide the world with useful and beneficial services, the right approach and right leadership are needed.

“Technology companies depend on leaders with a vision for a better future,” says Vallabh “Samba” Sambamurthy, Albert O. Nicholas Dean at the Wisconsin School of Business. “We need business professionals who can transfer their desire to create a better world into products and services—business professionals who can mirror the ingenuity of technologists and develop companies that truly inspire positive change.”

So what do you need to prepare for a tech career?

To Kristin Branch, director of the [url=https://business.wisc.edu/centers/ac-nielsen/]A.C. Nielsen Center for Marketing Analytics and Insights[/url] at the Wisconsin School of Business, you need to be willing to fail—and fail fast. The tech landscape is constantly changing, and you have to be OK with rapid agility, and have the mindset that you will be able to learn from mistakes, pivot, and move forward with better ideas.

[url=https://business.wisc.edu/spotlight/cynthia-chu/]Cynthia Chu (BBA ’99)[/url] is a great example of a collaborative tech leader who has taken her business knowledge and inspired growth as the CFO and growth officer at Audible. She took her skills rooted in finance and her passion for people and developed into a data-driven company leader who has helped make Audible a vital player in the growing audio space.

“I think problem-solving, being analytical, and not being afraid to raise my hand for an ambiguous assignment are what have helped me succeed. That’s what brings me to work every day—the chance to problem-solve,” says Chu.

Enacting real change and transforming the way we interact with technology

Business professionals at companies like Audible or Microsoft, where recent [url=https://business.wisc.edu/graduate/mba/full-time/]Wisconsin Full-Time MBA[/url] graduate Rodrigo Stabio (MBA ’19) works, have the ability to enact real change in society and shape the way people and technology interact. “I love that I am working on tech that has the power to affect and empower the whole world,” says Stabio, a product marketing manager for Microsoft’s Surface products.

In the past decade, dependence on technology has grown wildly, and working in the tech space allows you to paint the future of what cultural shift will occur next.

“I think one of the things that we’re seeing is that any industry, any company is trying to adopt that technological mindset. Everyone is getting that desire to be more agile and more experimental and more fast-acting.”

Kristin Branch, director, A.C. Nielsen Center for Marketing Analytics and Insights

And beyond flashy companies in B2C spaces, there’s tremendous growth to be had in areas like cloud computing, the Internet of Things, and technology to help our health, our finances, and our planet’s sustainability.

“I think one of the things that we’re seeing is that any industry, any company is trying to adopt that technological mindset,” says Branch. “Everyone is getting that desire to be more agile and more experimental and more fast-acting.”

Tech investor and Wisconsin MBA alumnus Malcolm Thorne sees the future of business being led by companies which are in part software, data, and analytics companies, no matter what goods or services they provide.

“In my view a large majority of companies are becoming tech enabled companies,” says Thorne. “Look at what business model innovations like Harry’s have done to a traditional CPG category like shaving. Look at what is happening in delivery. What does CPG look like if you no longer step in a grocery store?”

Rewriting societal troubles and crafting a better future

Tech is clearly a powerful force for change, and the direction that business professionals take tech is vitally important. With misinformation, extremism, privacy concerns, and supply chain dysfunction major issues within tech today, tomorrow’s tech leaders will have to think critically about how to make businesses that reflect society’s growing cries for justice, inclusion, sustainability, and better health.

Innovation will charge ahead and the way business professionals respond and nourish that innovation will impact the world generations into the future.

“Technology leads innovation and change in our society so dramatically, and that’s extremely attractive to a lot of young professionals as they think about having an impact in their career. It’s about having meaning and driving action,” says Branch.

Business professionals in tech are well positioned to turn their desire for meaningful careers into accessible solutions to universal problems. The world needs forward thinkers who can build companies that make a positive difference.

Are you ready to join the next generation of tech leaders?

This story is Part 1 in our three-part series on the business of tech. Check back next week for Part 2: Product Management in Tech.

Read more about business tech education at the Wisconsin School of Business in our [url=https://business.wisc.edu/news/wsb-invests-in-product-management-and-marketing-technology-tracks-positions-students-to-address-complex-challenges-post-mba/]press release about new tracks in the Wisconsin Full-Time MBA Program[/url].

The post [url=https://business.wisc.edu/news/the-vision-skills-and-mindset-you-need-for-a-career-in-tech/]The Vision, Skills, and Mindset You Need for a Career in Tech[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].

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Alumni Webinar Series: Professional Goal Setting: Navigating Your Care [#permalink]

18 Jan 2022, 14:00

FROM Madison(Wisconsin) Admissions Blog: Alumni Webinar Series: Professional Goal Setting: Navigating Your Career Journey

Setting long-term professional goals is essential to advancing your career and feeling fulfilled by your job. Your career is a constant and evolving process of learning, risk taking, evaluation, and planning— and movement can be inevitable. It’s important to maintain your value throughout the journey of your career with successful goal setting and achievement. During this webinar, Betsy Hagan, an instructor at the Wisconsin School of Business Center for Professional & Executive Development, examines both the opportunities and barriers associated with three common career routes: occupational, organizational, and boundary-crossing.

Occupational

Occupational career routes are clearly defined by requirements or professional standards that one has to meet to advance. This career path is often fulfilling, but there are many barriers. There are times when you won’t be in control of how you move up in this kind of career path. Other deterrents may include a certain level of performance, the money required to achieve these careers, and the willingness to put in the effort.

Organizational

Organizational career routes are based on the kind of organization you wish to be in. Valuing an organization’s mission can influence your decision to stay there. For example, a medical sales professional may want to stay in that field based on how the products they support positively affect the medical field and contribute to world health. In organizational career routes, you can find new opportunities based on expertise, but the drive is more focused on the organization. A barrier in this career route can be the limited number of available roles in any given organization. The roles you’re looking for and qualified to fulfill won’t always be available. Unfortunately, organizational politics can also play a role in how you advance.

Entrepreneurial or Boundary-Crossing

Entrepreneurial or “boundary-crossing” career routes are not defined by a single employment setting. Individuals interested in taking this route are looking to apply their skills in multiple ways. This could mean hiring yourself out freelance, or starting your own business. Before moving to this route, ask yourself whether it is better to be less attached to an industry or organization. During “the great resignation,” this is an option that more people are starting to explore. Boundaries include giving up a fair amount of security. This career route may mean less consistency in work, and it doesn’t come with the benefits that many organizational or occupational careers do.

It’s important to remember that ascent isn’t the only direction to go when changing career paths. The idea that “up” is the only direction is usually rooted in the idea of growing compensation. There is some truth to that, but try to look at career movement as a lattice rather than a ladder. Hagan is an independent consultant specializing in organizational effectiveness and talent development. She is an instructor at the Wisconsin School of Business Center for Professional & Executive Development. Her background includes 15 years of senior leadership experience in corporate human resources and program management with Hewitt Associates LLC, a $3 billion HR consulting and outsourcing company located in Lincolnshire, Illinois.

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My Thoughts on the Best Business Jobs [#permalink]

18 Jan 2022, 14:00

FROM Madison(Wisconsin) Admissions Blog: My Thoughts on the Best Business Jobs

WSB’s Trusted to Lead platform showcases alumni who have made their own way in business.

As we start 2022, I’ve seen a few reports on the best business jobs, the best companies, and a lot of coverage about “the great resignation” or reevaluation.

Attitudes toward work and careers are clearly changing. How could they not given the significant disruptions that we are seeing all around us?

Some reports list specific roles as the “best business jobs.” (According to U.S. News & World Repor t, financial manager is #2 and market research analyst is #4—areas where the Wisconsin School of Business excels and places a lot of students). However, I want to offer some expanded perspective on business careers.

It’s not about the job, the company, or the skills—it’s about you. I hope that you’ve learned through our business programs that, beyond your knowledge and skills, your values and passion will be the essential drivers of your long-term career success. If not, let me emphasize their criticality.

Yes, that first job or internship experience is a jumping-off point that opens up significant possibilities. However, if you find what truly motivates you, you’ll have the power to affect meaningful change for the rest of your career. So, as you start this semester, as you meet with your advisor, or consider your next career move—don’t look past what innately drives you; listen to that inner voice.

You are at the Wisconsin School of Business because you have significant potential. We are here to help you find those possibilities, develop your confidence, and highlight how your values can match up with essential business skills to have an impact beyond yourself.

At Wisconsin, business and leadership preparation are more than a set of courses. It’s about discovering the unique set of skills and values that can change the world for good. It’s about being trusted to lead.

We’ve seen grit, humility, and hard work propel careers more than anything else. We know our Midwest values and global mindset take us far.

Change is constant, and while we’ll provide you with the right set of technical skills, your ability to constantly learn, adjust, work with others, and make sound decisions will be your greatest assets.

This month, we launched a platform to share the stories of WSB alumni who made their own way in business. I encourage you to read about their journeys and find inspiration in the possibilities.

Of course, there’s no magical solution to finding your place in business. It doesn’t come instantaneously. In the stories of these six individuals, you’ll see that each one of them had a unique path.

You might pursue your areas of specialization throughout your career like Cynthia Chu (BBA ’99), who double majored in finance and marketing and now leads these two functions for Audible. Or, your career might take some twists and turns before you find a place of purpose. Kyle Nakatsuji (MBA ’11) started as a football player, then a lawyer, and now is the CEO of a tech startup.

You might already have a passion that you want to pursue like Sennai Atsbeha (MBA ’09), who uses his understanding of culture to lead brand marketing at Gymshark. Or, it may take time to find the best way to harness your passion, like Reena Vokoun (BBA ’98) who started her own wellness company after having worked at Google and Reebok for over 10 years.

You might realize that you have a unique ability to thrive in a specific environment, like Jim Wuthrich (BBA ’86) who has been an intrapreneur within one of the world’s most-watched entertainment brands. Or, it could very well be a specific moment that inspires an entire career based on service, like Jake Wood (BBA ‘05) who founded Team Rubicon and Groundswell.

No matter how you define yourself, we offer many opportunities to set you up for career success. The Career Forward program for undergraduate students lets you explore career paths and develop a customized approach. Our master’s and MBA degree programs position you to advance your career as a specialized expert or general business leader. However, only you can make your career come to life in a way that’s uniquely your own journey.

So, do keep an eye on your grades, your internship, global opportunities, or your job after graduation. But, know that there’s a bigger driver fueling your passions, shaped by your values and uniqueness. Use those to find your place in business, to see where you specifically can make the biggest impact.

It’s clearly not one-size-fits-all, and there is no ‘best business job.’ But there is a best business job for you. And at WSB, we’re committed to helping you find it.

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WSB’s Karla M. Zehms Named Outstanding Auditing Educator by American A [#permalink]

21 Jan 2022, 11:00

FROM Madison(Wisconsin) Admissions Blog: WSB’s Karla M. Zehms Named Outstanding Auditing Educator by American Accounting Association

WSB’s Karla M. Zehms

Karla M. Zehms (MAcc ‘91), the Ernst & Young Professor in Accounting and the associate dean of research & PhD programs at the Wisconsin School of Business, is the recipient of the Outstanding Auditing Educator Award from the American Accounting Association’s Auditing Section.

The American Accounting Association (AAA) award is conferred annually and recognizes outstanding achievements in research or teaching in the field of auditing. The award recognizes exemplary contributions in research and/or teaching over a sustained period of time as evidenced by publications, educational innovations, guidance to graduate and undergraduate students, or excellence in teaching.

In his nomination letter, AAA member, Wisconsin alumnus, and Kennesaw State University Professor Dana Hermanson (PhD ’93) had this to say about Zehms:

“Since earning her PhD in 1997, Karla has been a true leader in the academic auditing profession through her teaching, mentoring of doctoral students and junior faculty, building of a remarkable body of rigorous and relevant research, co-authoring a leading auditing textbook, and serving in a broad range of leading service roles. Karla excels in all facets of academic life, and she serves as a great inspiration to those around her … Karla’s greatest teaching passion likely is her doctoral students. She has served on 17 dissertation committees and has been the chairperson of nine of those. Her students’ accomplishments while working with her include serving as a Public Company Accounting Oversight Board Economic Research Fellow, receiving a Deloitte Foundation Accounting Fellowship, receiving the AAA/Grant Thornton Doctoral Dissertation Award, receiving the Gil Geis Memorial Ph.D. Scholarship, and being recognized for the Auditing Section Best Paper Co-Authored with a Ph.D. student. These accomplishments would not have been possible without Karla’s direction, support, and guidance.”

Terry Warfield, senior associate dean at WSB, adds the following about Zehms:

“Karla embodies all of the excellence attributes of many of our Wisconsin School of Business faculty. Her recognition in this prestigious award attests to her distinguished contributions as an educator and scholar in the best traditions of the Wisconsin Idea. We are proud to count her as our colleague.”

Zehms has been active in serving the AAA, having recently served as president of the Auditing Section. She is also a 2016 recipient of WSB’s Erwin A. Gaumnitz Distinguished Research Award, a peer-nominated award based on research quality, significance, and productivity.

Her research interests include auditor decision-making in relation to risk assessment, corporate governance, auditor client acceptance and continuation decisions, auditor-client negotiation, and accounting curriculum effectiveness.

Zehms received the award at the Auditing Section’s midyear meeting this month.

Founded in 1916, the AAA is the largest community of accountants in academia. The organization serves to further the discipline and profession of accounting through education, research, and service.

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What is a Product Manager? [#permalink]

26 Jan 2022, 10:00

FROM Madison(Wisconsin) Admissions Blog: What is a Product Manager?

In popular culture, the tech workplace is often lampooned as a dark room full of sleep-deprived developers feverishly writing code. In reality there’s more to developing a tech product, and the business side of a tech company plays a major role. So, who are the people who help turn technological inventions into real-world products?

The answer is product managers. They are the overseers of a company’s products and the technological innovation behind them, and the stewards of that innovation’s role in meeting the customers’ needs in the marketplace.

“Product managers in tech are the shepherds of the product management lifecycle process,” says Peter Commons, senior lecturer in the [url=https://business.wisc.edu/graduate/mba/full-time/]Wisconsin Full-Time MBA Program[/url] and former business leader at Zendesk, Amazon, and Groupon. “They will generally lead a product all the way from the ‘what the heck do you want to build?’ through to the product launch.”

[url=https://business.wisc.edu/centers/erdman/]Erdman Center for Operations and Technology Management[/url] at the Wisconsin School of Business, Steve Boeder helps develop tech business leaders. He says having a balanced skill set in soft and hard skills sets you up for success as a product manager.

[url=https://business.wisc.edu/news/the-vision-skills-and-mindset-you-need-for-a-career-in-tech/-skills-and-mindset-you-need-for-a-career-in-tech/]Read Part 1: The Vision, Skills, and Mindset You Need for a Career in Tech[/url].

Interested in changing your career and becoming a product manager?

[url=https://business.wisc.edu/graduate/mba/full-time/specializations/tech-product-management/]Learn more about earning your Wisconsin Full-Time MBA in technology strategy and product management[/url].

The post [url=https://business.wisc.edu/news/what-is-a-product-manager/]What is a Product Manager?[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].

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WSB Doctoral Student Srinivas Tunuguntla Wins UW–Madison’s Genevieve G [#permalink]

27 Jan 2022, 14:00

FROM Madison(Wisconsin) Admissions Blog: WSB Doctoral Student Srinivas Tunuguntla Wins UW–Madison’s Genevieve Gorst Herfurth Award

Srinivas Tunuguntla (MS ’17, PhD ‘22), a doctoral student in the Department of Marketing at the Wisconsin School of Business, is the recipient of the University of Wisconsin–Madison’s Genevieve Gorst Herfurth Award. The award recognizes a doctoral student in the social sciences who has demonstrated outstanding research and scholarly writing accomplishments while a graduate student at UW–Madison. The winner is selected by campus’ Social Sciences Divisional Committee and receives a cash prize of $1,000.

WSB’s Srinivas Tunuguntla

Qing Liu, UW Foundation Chairman Orr–Bascom Professor and an associate professor of marketing, wrote in her nomination letter that Tunuguntla “demonstrated outstanding research and scholarly writing accomplishments” via his sole-authored paper, “Display Ad Measurement Using Observational Data: A Reinforcement Learning Approach.” The paper is currently under review with Marketing Science, one of the field’s leading academic journals.

Liu observed that “Srinivas’ research contributes to the literature in marketing and social sciences by developing a novel inference framework that integrates the fields of causal inference and machine learning. Recent research has shown that the modeling assumptions implicit in standard econometric approaches can significantly bias parameter estimates, especially in dynamic settings such as online advertising. Machine learning methods address these biases by remaining agnostic to the data generating process. However, because their objective is prediction, off-the-shelf versions of these tools cannot directly evaluate the causal impact of marketing decision variables. Srinivas’ research focuses on resolving this tension between prediction and inference, developing methods that preserve the causal relationships between variables while remaining agnostic to the underlying probability distributions.”

Liu noted that Tunuguntla’s framework—which is based on theories from psychology, statistics, and microeconomics—is generalizable and applicable to multiple contexts, and holds implications for fields beyond marketing, including health care, education, and energy management.

Tunuguntla’s research pipeline is robust. It includes a first-authored publication in the Journal of Marketing Research, a co-authored publication in the Association for the Advancement of Artificial Intelligence, and three working papers (one co-authored, two sole-authored) in progress to be submitted in the next 12 months. He has also presented his research at various conferences and symposiums, including the Informs Marketing Science conference, Marketing Dynamics Conference, and the Haring Symposium.

Tunuguntla received his bachelor’s degree in electrical engineering from the Indian Institute of Technology Madras and a master’s degree in computer science from UW–Madison.

Tunuguntla will join Duke University as an assistant professor of marketing following his graduation in May.

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WSB Doctoral Student Srinivas Tunuguntla Wins UW–Madison’s Genevieve G [#permalink]

27 Jan 2022, 14:00