Bottom Line header
Fall 2009
In This Issue
Dean's Message
Dubai & Mumbai
Brazil
ACBSP Update
Asian Business Studies Minor
Identity Theft Presentation
New COB Building
Faculty News
Upcoming Events
November 20, 2009 - COB Senior Reception
 
December 2, 2009- Real Estate Speaker Series
 
If you have any questions or comments regarding The Bottom Line E-Newsletter, contact Editor Tracy Joyce at [email protected] or (815) 836.5991.
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Message from the Dean

Welcome to this issue of the College of Business and Graduate School of Management's e-newsletter, The Bottom Line. We have started several new initiatives this academic year. These initiatives will support our mission in providing excellent educational programs and making our programs available to more students. As part of completing the self study report for ACBSP accreditation, we are finishing the last piece -- the student assessment. We are using the Major Field Test (MFT) to help us assess students' learning outcomes and identify opportunities for improvements in our curriculum and programs. We also started a comprehensive review of the MBA program, the largest program in the college; our goal is to make it more relevant, up-to-date, and more competitive. With the support of Dr. Stephany Schlachter, Provost, we established the Academic Facilities Planning Committee, which will study the feasibility and requirements for a new College of Business building or addition. We also started offering three undergraduate programs, Business Administration, Management and Information Technology Management, at the Kirtland Air Force Base, Albuquerque.
 
You will find more details about these initiatives and other projects in this issue. I hope you enjoy reading this issue.  Please feel free to email us with your feedback and comments.

 

Rami

 

Dr. Rami Khasawneh

Dean and Professor

College of Business and Graduate School of Management

Travel Study--Dubai & Mumbai
Visit two of the world's most dynamic financial capitals - Dubai, UAE and Mumbai, India!  
 
Dubai is emerging as a trading, services, finance, transport, and leisure hub for the region.  Approximately one-fifth of the world's cranes work non-stop in this rapidly expanding metropolis that supported over 6.1 million hotel guests in 2005, with man-made islands as big as the island of Manhattan being built just offshore to accommodate even more.  Originally based on oil revenues, the economy of Dubai is estimated at $46 billion.  Numerous US corporations, including Microsoft, McDonald's, Halliburton, CNN, Oracle, and IBM, have set up shop in this booming city to take advantage of the low corporate taxes and skilled workforce.

Mumbai, formerly known as Bombay, is the financial capital of India and is home to the Reserve Bank of India, Bombay Stock Exchange, National Stock Exchange. Corporate headquarters of many Indian and multinational companies are located in Mumbai. Many information technology and software companies, business process outsourcing (BPO) and call centers of leading global companies are located in Mumbai.
 
This Travel Study program will be led by Dr. Faisal Abdullah, Associate Professor of Management Information Systems, and Rami Khasawneh, Dean and Professor of the College of Business.  The program will include visits to many corporations and offices in Dubai and Mumbai, providing an opportunity to network and discover how business is conducted in these major global business hubs. For more information click here.

College of Business Expands its International Initiatives to Brazil  

Two faculty members from the

Lewis University College of Business, Dr. Ian V. Gladding and Dr. Frank Rose spent part of July and August this summer in Brazil seeking new ways to expand learning opportunities for Lewis students and find new business opportunities for local companies. The trip, funded by a U.S. Department of Education grant, provided the Lewis faculty the opportunity to meet with Brazilian businesses, government agencies, and educational institutions, with a particular priority given to building upon existing relationships with universities in the global Lasallian university network. 

 

Following the success of last year's successful International symposium in Romeoville focusing on Japan and business travel study trip to Japan, the College of Business decided in 2009 and 2010 to expand learning opportunities for Lewis students and help develop new business opportunities for Chicagoland businesses in Brazil. Brazil was selected because of existing relationships Lewis has with other Lasallian universities, businesses, and government agencies in Brazil, as well as opportunities for long-term successful business

development in Brazil, now the largest economy in South America and sixth largest in the world. "The increasing importance of Brazil as business partners, sources of high quality goods, and as competitors, makes knowledge and understanding of Brazil increasingly important for Will County companies competing in the global marketplace and for students interested in international careers," commented Gladding.

 

"Lewis students and Will County companies cannot help but notice the growing prominence of Brazil in today's world and to the U.S. in general," added Gladding. "In politics, Brazil is increasingly influential in the G-20 group of countries that meets periodically to discuss global issues. President Obama has had several meetings with Brazilian President Lulu to discuss political and economic cooperation. The U.S. is Brazil's largest trading partner and the No. 1 foreign investor in the country.   

 

A highlight of the trip was when Gladding and Rose were invited to a meeting/luncheon hosted by the U.S. Ambassador to Brazil in Sao Paolo, attended by a number of large American multinationals operating in the country.  The meeting was related to the "+Unidos" effort, initiated in 2006 by the Ambassador to Brazil to promote corporate social responsibility programs in Brazil that contributed to sustainable development.  Environmentalist Jean Michel Cousteau - son of Jacques Cousteau - the principal luncheon speaker, focused on the benefits of partnering between the public and private sectors to achieve global environmental goals and sustainability.

 

The focus on Brazil this year is part of the new College of Business international initiative to provide international business services to the community and help create local jobs by leveraging faculty expertise and experience and the global Lasallian network. With a view toward facilitating the expansion of knowledge and developing relationships between the Will County companies and Brazil, Rose and Gladding met with universities and companies in Sao Paolo, Porto Alegre, and Rio de Janeiro to try to find new international business opportunities for companies and new learning opportunities and practical experience for Lewis students in Brazil. 

 

"In one of our meetings, an individual commented that Brazil presents a "gold mine" of opportunities to Brazilians and non-Brazilians, owing to its growing economy, rich resource base, stable political environment, and educated, diverse population," commented Rose. He continued, "Our short trip confirmed this for me.  Brazil is on the move and if we at Lewis want to learn more about the country and explore current and future opportunities there, our Lasallian sister institutions in Porto Alegre and Niteroi are eager to help us."

 

As a result of the positive response, the College of Business is planning to lead a group of students and companies on a business study trip to Brazil next May and to organize a symposia focusing on Brazil in Spring of 2010, focusing on topics related to the role of business in sustainable development in Brazil and the U.S., that would include speakers from Brazil and the U.S., featuring leading international experts in industries important to Will County.            

 

The travel study program and the symposium are examples of how the Lewis University College of Business can help businesses in the community strengthen international business relationships, while promoting economic development.  The College of Business offers international business research and consulting services, including international business and marketing plans, designed to identify and take advantage of international opportunities. With a focus on assisting small and medium-sized businesses access to cost-effective international business services, Lewis can help companies take advantage of export opportunities, help Will County attract foreign investment to the area, and bring American manufacturing jobs back to the region from overseas locations. The intention of initiative is to position Lewis as a place where Chicago area companies can come to exchange ideas, acquire knowledge and enhance understanding of international business opportunities with ethical responsibilities.  

 

For more information about how the Lewis University can help your business, contact Dr. Ian V. Gladding, Professor of Business Administration and Director of the International Business and Contemporary Global Studies, College of Business, Lewis University, (815) 836-5221 or [email protected].

ACBSP LogoMajor Field Testing for ACBSP Accreditation

Progress continues to be made on the College of Business' initiative to obtain ACBSP Accreditation.  The Association of Collegiate Business Schools and Programs (ACBSP) is the leading specialized accreditation association for business education which supports, celebrates, and rewards teaching excellence. 
 
The COB has implemented student assessments using ETS Major Field Test (MFT) in business.  To date, these assessments have been completed by 70 undergraduate business students, and 30 MBA graduate students.  Additional assessments will be completed in the next few weeks, with an expected total of 100 undergraduate business students, and 50 MBA graduate students being tested in the Fall 2009 term.  This assessment will be conducted every term - Fall, Spring and Summer.
 
The MFT measures student learning in eight functional business areas.  Test results enable the academic departments to refine and improve curriculum development, gauge the progress of students compared to others in the program and those in similar programs at schools throughout the country. 
 
The 2009-10 Undergraduate Catalog lists completion of the ETS Major Field Test (MFT) as a requirement for graduation for all College of Business students.  This assessment is currently scheduled as a component of the Business Communications in the Digital Age (61-300) undergraduate course, and the Marketing Management (59-568) graduate course.
                                                              
For additional information on the COB accreditation initiative, contact Marvin Bates, Director of ACBSP Accreditation, [email protected].

COLLEGE OF BUSINESS ANNOUNCES NEW ASIAN BUSINESS STUDIES MINOR

The Lewis University College of Business announced a new Asian Business Studies minor. "This new minor is part of an increasing effort by the College of Business to improve course and program offerings to help students better understand foreign markets and international issues that could directly or indirectly affect their careers," commented Dr. Rami Khasawneh, dean of the College of Business.
 
There is an increasing interest and awareness about the rising economic and political importance of Asia as one of the most important and dynamic economic regions in the world. "As more U.S. companies, large and small, are creating joint ventures, licensing arrangements, financing deals, and other transactions with Asian firms, not just in China and India but also in Thailand, Vietnam, and elsewhere, people with the ability to identify, assess, and facilitate such transactions should increasingly be in demand. Employment should be available in all sectors including private manufacturing and service companies, consulting firms, nonprofits, and government," commented Dr. Ian V. Gladding, Director of the Contemporary Global Studies and International Business program.
 
He continued, "As faculty members, we are excited to share our extensive experiences in China, India, Japan, and the Middle East to assist the Asian Business Minor students in learning about the region's economic, political and cultural diversity."
 
A broad range of interdisciplinary courses are designed to provide students with maximum exposure to important global issues, concerns, and developments. Beside coursework, the program offers students several opportunities to gain international experience (study abroad, international internships, international study short courses) and develop international language/cultural skills.
 
The new Asian Business Studies minor will consist of courses in international business, history, and political science, as well as new courses specifically designed for preparing students for careers in International Business and to expand student understanding and knowledge of the fastest growing economies in the world. 
 
An important outcome of this program will be the development of international relationships between undergraduate students and companies in the Greater Chicago area, as well as relationships with their foreign counterparts as part of the Asia Travel Study experience, providing more and different kinds of learning opportunities, career opportunities, and, over time, enhance enrolment and attract new types of students and investment from the community.  
 
For more information, contact Dr. Ian Gladding at (815)836-5221 or [email protected].

Protect yourself against identity theft by learning prevention strategies at Lewis University

Todd Carroll, Special Supervisory Agent for the Chicago Cyber Squad of the FBI, presented "Protect Yourself Against Identity Theft; Strategies for Prevention and Survival," from 5-6 p.m. Nov. 3 in Sancta Alberta at Lewis University in Romeoville. The presentation was free and open to the public. Carroll's presentation addressed cyber crime, identity theft and protecting one's identity during the holiday season.

In charge of the FBI's Cyber Squad in Chicago, Carroll has been an FBI Special Agent for 11 years. Prior to joining the Federal Bureau of Investigation, Todd Carroll served as a police officer and worked in the counterterrorism and cyber crime fields as well as in the Washington, D.C., field office and the Critical Incident Response Group out of Quantico, Virginia.

The event was sponsored by Lewis University's Graduate School of Management (GSM) and Institute for Information Assurance (IIA).

For additional information, please contact Patty Perez, graduate recruitment and business relations coordinator in the Graduate School of Management at Lewis University, at (815) 836-5913.

Plans for a New COB Building

The College of Business recently formed a new committee, Academic Facilities Planning Committee, and will be doing

a feasibility study for a new COB building.  The committee members include, Dr. Faisal Abdullah, Mr. Bob Bergman, Mr. Mike Godfrey, Dr. Rami Khasawneh, Dr. George Klemic, Dr. Laura Leli-Carmine, Mrs. Bushra Malik, and Dr. Frank Rose.

 

The committee will meet every two to three weeks exchanging information about ideas for the new building.  For several months it will serve faculty in terms of their likes and dislikes of the current building, and what the current building has and does not have.   

 

The current College of Business building has a lot of limitations, especially from a technology standpoint.  Dr. Leli-Carmine stated that a new building should also have a social aspect to it; something that would make the students want to be in the building.  Students suggested having a building include the following, a restaurant, small meeting rooms for groups to meet, and more technology to practice PowerPoint presentations.  MBA students would like a place to sit and relax before their classes start.

 

According to Dr. Leli-Carmine the committee is looking to build a sustainable building.  "The goal for this committee is to plan a building that is an inspiration to others, as well as be environmentally friendly." 

Faculty News 
Frank Rose
Dr. Rose contributed an article entitled, "Investment in U.S. Futures and Options Markets; A Discussion of the Possible Impact on Commodity Prices" to the June 2009 issue of Food Outlook, published by the Food and Agriculture Organization of the United Nations.  (http://www.fao.org/giews/english/fo/index.htm)
 
On October 16, 2009, Dr. Rose attended the 39th Annual Meetings of the Illinois Economics Association at the University of Illinois at Chicago.  He participated in the session, "Issues in Financial Derivatives," discussing a paper entitled, "Using Option Pricing Models in the Real World" by Sheldon Natenberg of Chicago Trading Company.
 
On November 4-6, 2009, Dr. Rose participated in meetings of the Committee on Commodity Problems of the Food and Agriculture Organization of the United Nations.  The meetings were held in Santiago, Chile.  He was invited to speak at the "Special Session on Market Uncertainties" focusing on the changing world economy.  His specific topic related to the role of speculators in the global derivatives markets and their impact on commodity prices.  After the FAO conference, Dr. Rose met with officials of the Chilean government to further discuss this subject.
GKlemicDr. George Klemic, Assistant Professor of Business Administration, and Dr. Eveann Lovero, Chair of Business Administration, participated in an assessment for the  IUPUI Institute in Indianapolis at the workshop, "Results of Assessment of Student Use of Quantitative and Qualitative Models."  In the session they shared the efforts and results in assessing the use of quantitative and qualitative models by undergraduate students at Lewis University, what was learned in the assessment process, and the steps taken to adjust courses and curriculum in light of the findings.
Dr. Klemic will also present his paper, "Online Faculty Learning and Communities of Practice," at the Ubiquitous Learning International Conference in Boston, in December 2009.
Bob AtraRobert J. Atra, Ph.D., CFA, Professor and Chair of the Department of Finance at Lewis University, has co-authored three chapters in a new book published by Wiley, one of the premier publishers of business books.  The Valuation Handbook: Valuation Techniques from Today's Top Practitioners was released in October and includes insights on a wide variety of valuation topics.  Authors in the book are from prestigious firms and universities such as Morningstar, Stern Stewart, Massachusetts Institute of Technology, and Carnegie-Mellon University.
 
Atra co-authored three chapters with the book's co-editor, Rawley Thomas.  The chapter Developing and Automated Discounted Cash Flow Model describes how investment firms can formalize the process of building a discounted cash flow valuation system as well as innovative ways to compare multiple model performance. 
 
The second chapter by Atra and Thomas, The LifeCycle Returns Valuation System, illustrates how to translate accounting information into economic performance and, ultimately, the value of a firm.  Additionally, it connects valuation to behavioral finance by examining how far a stock price can stray from its intrinsic value before migrating back toward that value.
 
The chapter Lower Risk and Higher Returns: Linking Stable Paretian Distributions and Discounted Cash Flow, (co-authored with Thomas and Dandan Yang) demonstrates that an accurate valuation model may actually produce portfolios with lower risk as well as higher returns.  Risk in the chapter is not computed in the traditional manner, but in terms of the likelihood of extreme events.  Ignoring those extreme events may have contributed to the recent financial crisis, thus making the topic extremely relevant in today's financial environment.
Roberto GamarraDr. Roberto Gamarra, Assistant Professor of Business Administration, presented the following papers at the following conferences:
"Green Segmentation and Location Strategies" at the Annual Meeting of the Academy of International Business San Diego, California, June 30-July 2, 2009; "New Challenges for International Management" at the Annual Meeting of the Academy of Management, Chicago, Illinois, August 8-11, 2009; Servant and Transformational Leadership Approach to Teaching Scholarship of Pedagogy Symposium, at Lewis University, October 17, 2009.
 
Dr. Gamarra also presented three papers, "International Strategies of Korean Multinationals: 1960-2008," "The Mechanisms of International Technological Learning," and "Sustainability and Location Strategies" at the Midwest Academy of Management Annual Conference "A Time for Building: Structuring for Tomorrow's Leaders."  He also participated as a discussant in the Rugman Global Business Seminar at the University of Saint Louis on September 26, 2009.
COB hires new faculty member
The COB welcomes one of its newest full-time members, Dr. Mark Nolan, Assistant Professor of Business Administration at the Albuquerque Campus. He received his bachelor's degree in Accounting and master's degree in Planning and Policy from University of New Mexico. Dr. Nolan received his Doctoral degree in Business Administration from New Mexico State University.  Before joining Lewis he worked as an Assistant Professor in the department of Management Sciences at St. Bonaventure University in New York.
If you have any questions or comments regarding The Bottom Line E-Newsletter, contact Editor Tracy Joyce at [email protected] or (815) 836.5991.
                                 Belltower