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Once Again,Welcome to<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>’sGraduate School <strong>of</strong> Business“<strong>Chicago</strong> GSB”1
Mark E. ZmijewskiDean for Executive ProgramsDeputy DeanLeon Carroll Marshall Pr<strong>of</strong>essor <strong>of</strong> AccountingEmail: Z@<strong>Chicago</strong>GSB.edu2
Overarching Objectives <strong>of</strong> the Deans• To sustain and strengthen the School’s culture,values, and integrity.• To build a more aligned <strong>Chicago</strong> GSB that isfocused on the internal and externalrelationships that matter – our relationships ourstudents, our alumni, and other business leadersin the global business community.3
Outline• Standards <strong>of</strong> Pr<strong>of</strong>essionalism and HonorCode• <strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>• <strong>Chicago</strong> GSB• Expectations• Represent Your School Well4
Academic StandardsandPolicies5
GSB Standards <strong>of</strong> Pr<strong>of</strong>essionalism“Be Nice”<strong>The</strong> GSB community is committed to building andsustaining an environment in which its memberscan freely work together, both inside and outsidethe classroom.All members <strong>of</strong> our community must be treated withrespect, regardless <strong>of</strong> sex, race, cultural heritage,religion or sexual orientation.6
<strong>The</strong> GSB’s Honor Code• Do not represent another’s work as your own.– Academic (papers, assignments, projects,examinations, etc.)• Do not misrepresent yourself.• Sign the pledge on every examination,assignment, etc.: “I pledge my honor that I didnot violate the pr<strong>of</strong>essional standards andhonor code in completing this …”7
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>8
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>“Crescat scientia;vita excolatur”Let knowledge growfrom more to more;And so be human lifeenriched9
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>• Privately funded research university• Established in 1890 and initially fundedby John D. Rockefeller with theequivalent <strong>of</strong> $275 million ($ 2006)• Founded by John D. Rockefeller“<strong>The</strong> best investment I ever made.”10
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>• More than 75 Nobel Laureates havebeen faculty, students, or researchers atthe <strong>University</strong>– 9 in economics– 4 are still on the faculty at the <strong>University</strong>Pr<strong>of</strong>essors Becker, Fogel, Heckman, Lucas11
Accomplishments <strong>of</strong> the non-GSB Nobel Laureatesand Other Faculty and Researchers• First controlled, self-sustaining, nuclear chain reaction• Developed Carbon 14 dating• Identified REM sleep and its association with dreaming• Discovered the atmosphere’s jet stream• First measured the speed <strong>of</strong> light• First successful hormonal therapy for cancer• First measured blood glucose levels• Developed the preventive pill for malaria• Discovered a way to preserve blood and established the first blood bank• First living-donor liver transplant• Developed techniques for bone marrow transplants• Developed techniques for heart transplants• Demonstrated that airborne chemical signals have a measurable impact on brainmetabolism• Conceived the idea <strong>of</strong> Black Holes• Developed the mathematical foundations <strong>of</strong> genetic evolution• Demonstrated that cancer can be caused by chromosome abnormalities• Reshaped modern economics and finance, developed the area <strong>of</strong> law and economics12
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong>• Undergraduate – <strong>The</strong> College, about 4,600• Graduate Programs, about 9,500– Divisions: graduate programs (economics, mathematics,psychology, sociology, statistics),– School <strong>of</strong> Social Service Administration,– Divinity School,– Harris School <strong>of</strong> Public Policy,– Law School,– Medical School, and– Graduate School <strong>of</strong> Business (<strong>Chicago</strong> GSB)13
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Chicago</strong> – Privately Funded• Today, the <strong>University</strong>’s budget is over $2 billion andis funded by– Tuition is less than 25% <strong>of</strong> funding (less than 50% <strong>of</strong>non-hospital and medical funding)– Other funding sources:• Income from an endowment, value at about $5 billion• Research funding <strong>of</strong> about $250 - $300 million (annually)• Annual giving by alumni and friends <strong>of</strong> the <strong>University</strong>• Non-degree activities14
<strong>Chicago</strong> GSB is Privately Funded• <strong>Chicago</strong> GSB’s Budget is over $140 millionand is funded by– Tuition: about 67% <strong>of</strong> the annual funding– Income from an endowment, valued a bit under$200 million– Annual giving by alumni– Non-degree activities– Research funding16
<strong>Chicago</strong> GSB Academic Programs17
Full-Time MBA Programs18
Evening & Weekend MBA ProgramExecutive MBA – North America19
Executive MBA Program - Asia20
Executive MBA Program - Europe21
<strong>Chicago</strong> GSB Academic Programs• Campus MBA Program (≈ 1,100, includes IMBA)• Evening MBA Programs (≈ 1,100)• Weekend MBA Programs (≈ 300)• Executive MBA Programs (500)– for North America in <strong>Chicago</strong>– for Europe in London– for Asia in Singapore• Ph.D. Program (≈ 20 students per year x 5 years)(≈ 3,000+ students, about 1,200 graduates per year)22
<strong>The</strong> Part-Time MBAPrograms AreImportant to the GSB23
Importance <strong>of</strong> the Part-Time MBA Programs to the GSB• Part-Time MBA Alumni comprise about 45% <strong>of</strong> allGSB Alumni (40,000+), however, they comprise:– More than 50% <strong>of</strong> the GSB’s Alumni with titles <strong>of</strong> President,CEO, CFO, COO, etc.,– More than 50% <strong>of</strong> the GSB’s Advisory Council members,and– More than 50% <strong>of</strong> the GSB’s Distinguished Alumni Awardrecipients.24
<strong>The</strong> <strong>Chicago</strong> GSB Network40,000+ GSB Alumni25
40,000+ GSB AlumniSales and TradingTechnologyVC/Private EquityBusiness DevelopmentCompany FinanceConsultingMarketingEntrepreneurshipanufacturingnvestment ManagementInvestment BankingGeneral Management26
Some GSB AlumniKatherine Abbott, VP & Treasurer, Bally Fitness Holding Corp.Bob Adams, Chairman, Documentum, Inc.; former Exec VP Xerox Corp.Andy Alper, former COO, Goldman Sachs; Chairman, NYC Economic CouncilBasil Anderson, Vice Chairman, StaplesMichael Alan Baker, President & CEO, ArthroCare CorporationDavid Booth, President, CEO, Co-chairman, Dimensional Fund Advisors Inc.Bob Bordeman, CEO Safeway InsuranceCharles Marquis Brock, Chief Ethics & Compliance Officer, AbbottLaboratoriesPeter Browning, Chairman, Nucor Corp.Young DuChung Chin, Global Chief Investment Officer - Equities, GartmoreGroup27
Some GSB AlumniDennis Chookaszian, Chairman CNA FinancialGeorge Conrades, Chairman and CEO, Akamai TechnologiesRobert Cornog, Chairman, President, and CEO, Snap-on Inc.Charles J. Coronella, Retired President & CEO, Chase ManhattanJon Corzine, former CEO <strong>of</strong> Goldman Sachs and U. S. Senator, Gov <strong>of</strong> NJTom Davis, Executive VP, Merrill LynchGarrett Lee Dietz, Managing Director & Chief Administrative Officer, TowersPerrinJames Donnelley, former Vice Chairman, R.R. Donnelley & Sons CompanyWilliam Downey, President & CEO Kansas City Power & LightJohn A. Edwardson, Chair, Pres, and CEO, CDW Computers; formerPresident UAL28
Some GSB AlumniCheryl Francis, former CFO, R. R. Donnelley & SonsEric Gleacher, Chairman and CEO, Gleacher and Co.Melvin Goodes, former Chairman and CEO, Warner-Lambert CompanyKathryn Conner Gould, Partner, Foundation CapitalJudson Green, former President, Walt Disney Company; President NavtekJames Harding, former President & Chairman, Kemper Financial ServicesDavid Johnson, former Chairman, President and CEO, Campbell SoupKen G. Kabira, Vice President, Chief Marketing Officer, McDonald’s JapanEileen Ann Kamerick, Chief Financial Officer, Heidrick & Struggles, Inc.Edward Kaplan, Chairman & CEO, Zebra Technologies Corp.Karen Katen, President Pfizer Pharmaceuticals GroupDennis Keller, Chairman and CEO DeVry Inc.David Matthew Kelly, Chief Accounting Officer, KForce.Com, Inc.29
Some GSB AlumniJames Kilts, former Chairman & CEO, <strong>The</strong> Gillette Company,former President & CEO, Nabisco Inc.Glen C. Laschober, Executive Vice President and Chief OperatingOfficer, Omnicare, Inc.Pierre Leroy, President, Deere & CompanyJerry Levin, Chairman & CEO, American HouseholdMichael Lockhart, Chairman and CEO, Armstrong HoldingsJim Markey, VP & General Counsel, Kellogg CompanyHoward Marks, Chairman, Oaktree Capital ManagementPeter May, President and COO, Triarc CompaniesBob McCormack, Partner, Trident CapitalLeo Melamed, former Chairman and CEO, <strong>Chicago</strong> MercantileExchangeMeredeth Mendes, Worldwide CFO, Edelmen Public Relations30
Some GSB AlumniJean Claude Monty, Chairman and CEO, BCE Inc.Luca Moroni, CAO, FiatJoseph Neubauer, Chairman and CEO, ARAMARK Corp.James Nicholson, President & CEO, PVS ChemicalsSara Paretsky, author (V.I. Warshawski novels)Ellmore Patterson, former Chairman, J.P. MorganDonald Peterson, Commander U.S. Coast GuardPeter G. Peterson, former Secretary <strong>of</strong> Commerce, Chairman <strong>of</strong> theBlackstone GroupMichael Polsky, President & CEO, InvenergyDale Anne Reiss, Managing Partner, E&Y Kenneth Leventhal Real EstateGroupPete Rickets, EVP & COO, Ameritrade31
Some GSB AlumniTom Rickets, CEO, IncapitalRobert Rothman, President, Black Diamond Capital PartnersSteve Rothmeier, Chairman & CEO, Great Northern Capital; former CEO,Northwest AirlinesWilliam Rusnack, Pres., CEO & COO, Premcor Refining Corp.Fred Steingraber, Chairman Emeritus, A.T. Kearney, Inc.Joel Stern and Bennett Stewart, founders, Stern Stewart & CompanyPhilip Sweet, former Chairman, Northern Trust and CompanyGreg Swienton, Chairman, President & CEO Ryder System, MiamiMark Vanderploeg, Vice Chairman, Merrill LynchRoger Vasey, former Executive VP, Merrill Lynch & CompanyArthur R. Velasquez, Chairman, President & CEO, Azteca Foods, Inc.32
Some GSB AlumniDavid Vitale, former Pres. & CEO, <strong>Chicago</strong> Board <strong>of</strong> Trade; CAO<strong>Chicago</strong> Public SchoolsJohn Wadsworth, former Chairman, Morgan Stanley Dean WitterAsiaKen West, former Chairman, Harris BankcorpDonna Zarcone, Pres. & COO, Harley Davidson Financial Services33
<strong>Chicago</strong>-GSB Alumni - Jay Berwanger• GSB 1935• First Heisman Trophy winner34
Back to the <strong>University</strong> for a moment35
<strong>University</strong> <strong>of</strong> <strong>Chicago</strong>Football History• Original “Monster’s <strong>of</strong> the Midway”• National champions and the best in theCountry, Winning 7 Big Ten Titles– 7 Big Ten Titles from 1895-1939– National Champions, 1905, Stagg Field• <strong>University</strong> <strong>of</strong> <strong>Chicago</strong> is only school to dateundefeated against Notre Dame in Football36
<strong>University</strong> <strong>of</strong> <strong>Chicago</strong>Basketball History• On January 18, 1896, Coach Staggwon the first ever intercollegiatebasketball game against Iowa (13-12) at the Iowa Armory in front <strong>of</strong>400 spectators37
Back to <strong>Chicago</strong> GSB38
Expectations39
What you can expect from us:• Quality teaching that teaches sound conceptualframeworks and leading-edge ideas (not the fad <strong>of</strong> the day)• An active and energized network <strong>of</strong> alumni and corporatepartners• Lifetime career support to help you accomplish yourcareer goals• A positive and constructive relationship with the Deansand rest <strong>of</strong> the administration• A commitment to improving and to winning (it’s notinstantaneous, but we continually work to improve ourcurriculum, services, support and pr<strong>of</strong>essionaldevelopment)40
What we expect from you:• Prepare for your life’s work - stretch yourself, set thehighest aspirations and take risks• Develop and execute a career strategy – it begins today• Act with integrity.• Represent your School well• Develop your <strong>Chicago</strong>-GSB network <strong>of</strong> students, alumni,and others - a <strong>Chicago</strong> MBA will open doors• Your highest return investment available to you right now:Help your GSB colleagues accomplish these goals41
Represent Your School WellEach <strong>of</strong> us has a role in“Building the <strong>Chicago</strong> GSB Brand”42
<strong>Chicago</strong> GSB Building the Brand• Advertising Campaigns• Direct Mail Campaigns• Continually Revised Web Site• Corporate Visits• Special Events43
Media coverage <strong>of</strong> peer schoolsCites in <strong>The</strong> Wall Street Journal, <strong>The</strong> New York Times, andthe Financial Times, since 2002:500450400454350300351 350250200150194100507148 320Harvard Wharton <strong>Chicago</strong> Columbia MIT Stanford Kellogg44
Viral / Word <strong>of</strong> Mouth Marketing• Word <strong>of</strong> Mouth Marketing is important [Dye (2000)Berndt, Pindyck and Azoulay (2000)]• 66% <strong>of</strong> all product adoption and usage affected• Works best for experiential products/service anddifferentiated product categories• <strong>The</strong> size <strong>of</strong> the effect can be 8% to 50% <strong>of</strong> newcustomers• For <strong>Chicago</strong> GSB, this is one <strong>of</strong> the most importantfactors to get high quality applicants45
You have a “24/7” rolein Building the<strong>Chicago</strong> GSB Brand46
Your Role in Building the <strong>Chicago</strong> GSB Brand• Be successful with integrity• Help identify good candidates for the <strong>Chicago</strong>GSB community• Talk about the program with others anddirect them to the website for information• Distribute information in your companies orget us access to company directories• Share personal experiences and attendinformation events47
Thank You forJoining <strong>Chicago</strong> GSB50
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