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Carlson School of ManagementUniversity of Minnesota321 Nineteenth Avenue South, Suite 4-300 Minneapolis, MN 55455-0438 carlsonschool.umn.edu
The University of Minnesota is an equal opportunity educator and employer.
The Carlson School of Management 2008 Annual Report
Creating world-class connections
1Creating world-class connections
Discovery
Opportunity
Community
Creating world-class connectionsOur world is profoundly interconnected — in ways most of us couldn’t have imagined a few years ago.
At the Carlson School of Management, we’ve been looking ahead.
By creating world-class connections, we are helping to frame the future of business — and reflecting a new worldview that is more engaging, fluid, and boundaryless. You’ll see it in the way we teach and learn: across campus, within networks, around the world. It’s how we research: across disciplines and conventional dimensions. It’s how we work together: more collaboratively, across continents and cultures.
Today, the Carlson School offers a world of opportunities to connect and engage — because tomorrow calls for leaders who can sustain the world.
2 Letter from the Dean 3 Commitment to excellence 4 Discovery 10 Opportunity 16 Community 22 Benefactors 27 Faculty, enrollment, and student profiles 28 Financial report 30 Faculty 32 Administration 33 Board of Overseers
2 3
Dear friends,As you soon will discover, it has been an exhilarating year of progressive transformation at the Carlson School of Management. This annual report highlights how we are leveraging our ever-changing and growing network to advance breakthrough research and extraordinary educational opportunities.
As a world-class business school, we are pursuing excellence in multiple arenas through our preeminent faculty, a premier undergraduate experience, an internationally prominent MBA portfolio, an excep-tional array of international study programs, innovative interdisciplinary research and teaching, and an impressive Executive Education portfolio. I am pleased to say that we are realizing success in all areas.
In a stellar hiring cycle, we recruited 13 new faculty members. Their research contributes new knowledge that will continue to extend the reach of our entire faculty to the horizons of inquiry. Our faculty continues to engage scholars, practitioners, and community leaders in essential dialogues that shape the future of work, leadership, and global collaboration.
Our world-class faculty also facilitates extraordinary learning opportunities. In a significant effort to create more opportunities to prepare tomorrow’s leaders, we expanded our undergraduate program and constructed Herbert M. Hanson, Jr. Hall, a new state-of-the-art facility dedicated to undergraduate business education. Our faculty also revitalized the undergraduate curriculum, which boldly embraces the increasingly global nature of business in part by requiring all students to participate in an interna-tional experience. We also enriched international study options for MBA students by developing new international partnerships in more global markets. New leadership in our Executive Education operation will revitalize our programming in this area and provide executive leaders with more relevant courses of study and greater access to our world-class faculty. The Carlson School is working harder than ever to provide the global leaders of today and tomorrow with access to exceptional lifelong learning opportunities at every stage of their careers, from a robust undergraduate curriculum to customized executive programming.
I invite you to actively participate in this rising community of thought leaders and engage in the discovery and dissemination of transformative knowledge. This combination of engagement with a public research university produces vibrant synergies that expand our capacity and help to make the Carlson School greater than the sum of its parts. Thanks to the help and ongoing support of loyal friends and benefactors like you, the Carlson School of Management is building world-class connections and engaging every available opportunity to contribute to a dynamic, global, economic community.
Sincerely,
Alison Davis-Blake Dean and Investors in Leadership Distinguished Chair in Organizational Behavior
1. World-class faculty
2. Premier undergraduate program
3. Internationally prominent MBA portfolio
4. Outstanding international programs
5. Interdisciplinary research and teaching
6. Nationally recognized executive education
In the past two years, we hired 20 new tenured or tenure-track faculty members, and significantly increased investments in our research infrastructure and doctoral program.
Our faculty developed a bold new undergraduate curriculum while administrative teams worked to complete the financing and construction of Herbert M. Hanson, Jr. Hall.
Students in all of our MBA programs will benefit from new investments in the Carlson School Enterprises, career services, and high-tech, high- touch classrooms.
We formed new global partnerships to meet student demand for international programs focused on key business issues such as outsourcing, emerging markets, and sustainability.
We advanced key interdisciplinary endeavors, such as our Medical Industry Leadership Institute (MILI) and Center for Integrative Leadership (CIL).
Under the leadership of a new assistant dean, we are crafting significant new custom and open enrollment programs to meet the demand for non-degree executive education.
Commitment to excellence: A strategy to achieve academic excellence
This year, the Carlson School community clarified the school’s mission, vision, and strategic goals.
The mission of the Carlson School of Management is to discover transformative knowledge about the issues faced by organizations and managers in a dynamic global economy and to create exceptional learning and career opportunities by facilitating an engaged and integrated community of scholars, students, and practitioners.
The Carlson School community is committed to pursuing its vision to engage individuals and organizations in the discovery and dissemination of transformative knowledge that enables them to make innovative, responsible, and effective contributions to a dynamic, global, economic community.
Throughout the year, we made substantial progress on six key strategic goals:
Letter from the dean, September 2008
4 5
At the Carlson School, discovery encompasses panoramic research, driven by our globally acclaimed faculty. The result might be a new patent, public policy, business, or field of knowledge. As Carlson School Professor Andrew Van de Ven says, “Big research questions tend to reside in a buzzing, blooming, confusing world. They can’t be solved with only one way of thinking.”Can scholarly research make an impact in the real world? In his recently published book, Engaged Scholarship, Andrew Van de Ven makes a strong case for the ability of collaborative, multiperspective research to solve significant real-world problems — and directly impact public policy. The book has been lauded as “a call to action and clear pathway for scholars.” It won the prestigious 2008 George R. Terry Book Award from the Academy of Management, given for the book that does the most to advance management knowledge.
Professor Van de Ven, the Vernon H. Heath Chair of Organizational Innovation and Change and a professor in the Department of Strategic Management and Organization, advocates for engaged scholarship: research that represents diverse perspectives and encourages collaboration among academics, business practitioners, clients, and other
stakeholders. Traditional academic research deals in abstractions and generalities, often yielding broad conclusions. Closing the gap between theory and practice, maintains Van de Ven, could shed light on some of the most important challenges of our times.
Discovery
Discovery
Community
Opportunity
6 7
Patent potential for clinical software Paul Johnson, professor and Curtis L. Carlson Chair in Decision Sciences, mines the medical landscape. A recipient of a Medical Industry Leadership Institute small grant award, Professor Johnson is conducting research on “Improving Chronic Disease Care Using Data Mining and Personalization Technologies.” The project unites researchers from the Carlson School, the University of Minnesota’s Department of Computer Sciences, and HealthPartners — and it could result in a software patent.
Professor Johnson’s strategies could help manage health outcomes, risk, and cost in patients with chronic illnesses such as diabetes. By applying data mining techniques to clinical databases, Professor Johnson and his colleagues hope to identify physician practice patterns that predict clinical outcomes, including the potential for treatment errors. Professor Johnson’s research group developed software to help detect the thinking patterns of physicians and generate communications recommending that doctors review critical points of care. The team’s breakthrough research is important — and unique. A patent is pending.
Insight into community stewardship Volunteers bring vision and energy to communities. The question is, what motivates busy managers to volunteer in their communities? And, are formal programs aimed at developing integrative commu-nity leadership effective? Joyce Bono, associate professor, Human Resources and Industrial Relations, investigated those questions in a longitudinal study of 1,500 community volunteers.
Professor Bono’s research showed that altruism, socializing, learning, and career advancement were among the managers’ motives for volunteering. Her research also suggests that the community leadership programs most effective at increasing participants’ altruistic motives are those focused on knowledge and awareness of the community and developing leadership skills. Professor Bono’s
research shows that programs designed to increase community involvement effectively do so. This important research could help communities frame effective leadership programs that appeal to highly motivated leaders.
Knowledge Coalition:
New marketing resource
The Knowledge Coalition, formed by
the American Marketing Association
(AMA), is a new go-to resource for
marketing professionals seeking
timely research topics, information,
and more. It’s co-chaired by Michael
Houston, Ecolab-Pierson M. Grieve
Chair in International Programs and
associate dean of International
Programs, who says, “Academics
and marketing professionals are often
working on pioneering responses to
the same marketplace issues at the
same time. Bringing their experience
together, the AMA can create and
organize a useful body of marketing
knowledge as a visible demonstration
of its leadership in the field.”
Taking a closer look at online content contributorsIf you’ve ever read a review on Amazon.com or looked up information at Wikipedia.org,
you are one of millions of people who use Public Document Repositories (PDRs), which
hold massive amounts of content submitted by voluntary contributors. Recent research
by Mani Subramani, associate professor of Information and Decision Sciences, explores
emerging issues related to these Internet resources. By studying reviews and reviewers
on Amazon.com, Subramani found that a small minority of active contributors made a
disproportionately high volume of contributions and that these contributions were more
helpful and made earlier than those made by the majority. Such research opens the door
to further insights that will benefit the growing number of PDRs and online businesses.
Discovery
Best paper awardIn the 1990s, Taiwan transformed itself from an island economy to a global competitor
— perfect conditions for studying business performance. That’s exactly what Carlson
School Professor Aks Zaheer did, with award-winning results. His study paper, entitled
“The Contingent Role of Network Hierarchy on Firm Performance,” won the Best Paper
Award at the Academy of International Business in Milan. Professor Zaheer, who earned a
doctorate from the Massachusetts Institute of Technology, is the Curtis L. Carlson Chair in
Strategic Management. The paper, co-authored with scholars from the National University
of Singapore Business School, explores how the performance of Taiwanese business
groups was affected by the structure of networks.
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8 9
PAC
CEO Forum: Corporate Innovation DriversCorporate innovation — its drivers and impediments — was the topic of the day at the prestigious CEO Forum on Innovation, held at the Carlson School. The forum was in response to recommendations made by U.S. Secretary of Commerce Carlos M. Gutierrez’s advisory committee on measuring innovation in the 21st century economy, and Gutierrez was on hand to moderate the discussion.
The panel was co-moderated by the Carlson School’s Rajesh K. Chandy, the James D. Watkins Chair in Marketing and the co-director of the Institute for Research in Marketing. Panelists included George Buckley, chairman, president, and CEO of 3M; William Hawkins, president and CEO of Medtronic; and Marilyn Carlson Nelson, chairman, Carlson. Both Chandy and Buckley were members of Gutierrez’s advisory committee. The panelists discussed innovation in today’s enterprises and economies, shared their insights and experiences, and presented their thoughts on how government policies can help or hinder innovation. The forum was hosted by the Carlson School’s Institute for Research in Marketing. The institute fosters innovative research that improves the science and practice of marketing, while also providing a forum for marketing scholars and practitioners.
Top tier research Production and Operations Management Journal ranked the University of Minnesota
among the top three in research productivity within the field of service operations
management. The discipline of operations management applied to the service sector
is an emerging field. The Carlson School’s Department of Operations and Management
Science and the Joseph M. Juran Center for Leadership in Quality have played key
roles in the research of service operations management.
Carlos Torelli, brands that rate highest on the iconic scale are
those that reinforce culturally relevant associations and beliefs.
Coca-Cola is one example of an iconic brand that has the power
to affect the choices and judgment of consumers.
Resident sage
This February, Kathleen Vohs,
associate professor, Department of
Marketing and Logistics Management,
was one of the first five ever named
SAGE Young Scholars in 2008. The
award is granted by the Foundation
for Social and Personality Psychology
and SAGE Publications to recognize
outstanding academics who have
demonstrated exceptional individual
achievements in social or personality
psychology.
Vohs’ scholarly research and prolific
publication record puts her at the
forefront of her peers. Her research
on self-control and self-esteem has
appeared in Science, Scientific
American Mind, and top academic
journals in psychology and marketing.
Discovery
Do corporate political contributions help or hurt firm performance?Corporate political donations are under increasing scrutiny from shareholders who believe they are not in their companies’ best interests. A recent study by Rajesh Aggarwal, Felix Meschke, and Tracy Yue Wang of the Carlson School’s Finance Department explored these concerns by analyzing the outcomes of corporate political contributions. The researchers examined the campaign donations of all publicly traded companies in the U.S. over a 14-year period ending with the 2004 elections, and considered executive contributions, corporate funds directed to political parties, political action committee (PAC) contributions, and donations to 527 committees for issue advocacy, as well as company financial results.
During the sample period studied, 86 percent of the publicly traded firms in the U.S. made no political contributions at all. Of the firms that did make contributions, the study found that political donations often benefited managers rather than shareholders. Indeed such donations can decrease shareholder value. “For most companies, financially supporting the executive and legislative branches just isn’t that important to their bottom line,” says Professor Aggarwal.
The making of an iconic brandWhat does it mean to be an American icon? The iconic label
is frequently bandied about alongside discussions of enduring
brand names like Nike, Kodak, and Campbell’s. Turns out, brand
iconicity can be measured. According to Assistant Professor
10 11Opportunity
Candidates with business experience can leapfrog up the corporate ladder. From co-managing a multimillion-dollar growth fund to teaming on a case competition with students from Singapore, the Carlson School champions opportunities for all students.Corporate America is working to diversify its ranks, and the Carlson School is doing its part by diversifying the pipeline of business talent. In 2007, we advanced this goal when we hosted a national pre-MBA application seminar in partnership with Management Leadership for Tomorrow (MLT). MLT is a national nonprofit that has made progress in addressing the dramatic under-representation of minorities in senior business leadership positions.
MLT’s MBA Prep program prepares young professionals for successful application to leading MBA programs and helps them make the MBA career transition. “As a premier business school partner of MLT, the Carlson School leverages opportunities to create unique MBA experiences,” says Jeff Bieganek, director of admissions and recruiting, MBA programs.
Students attend mock admissions interviews and learn about the Carlson Enterprise programs, the school’s many international opportunities, and more.
Opportunity
Community
Discovery
12 13
Being there: First-person experiences in global businessThe Carlson School champions global education through multiple opportunities, including its unique new international experience requirement for undergraduates. Whether they’re participating in study abroad opportunities, global residency programs, or in the virtual team project involving our executive MBA programs in Austria, China, and Poland, students usually cite their international experience as a highlight of their education. Our global network continues to grow with new institutional partners in Taiwan, Thailand, and Australia.
This year, Carlson School MBA students traveled to Shanghai, China to work on a live case for International Dairy Queen. Students offered the company a toolbox of ideas on how to promote a new citrus drink for market success. Other MBA students presented a go-to market strategy for a new Polaroid product in Shanghai. Yet another group met with more than 20 Scandinavian corporations and organizations to discuss corporate social responsibility. Lastly, a select group of Carlson undergraduates explored the growing entrepreneurial movement in China.
Human resources humanitarian
Each year, talented MBA candidates
graduate from the Carlson School’s
Human Resources and Industrial
Relations (HRIR) program — but
Delphine Barringer Mills’ unique
life experiences stand apart. Long
interested in international humanitari-
anism, Barringer Mills worked with
the nongovernmental organization
Doctors Without Borders/Médicins
Sans Frontières (MSF) prior to enroll-
ing in the HRIR program. She traveled
from Sudanese orphanages to Haitian
trauma centers, helping recruit workers,
develop HR policies, and more. She
now has her MBA and still hears the
call of overseas work.
Examining medical tourismExperiential learning, a signature of the Carlson School, is reflected in the live business case opportunities offered through the Medical Industry Leadership Institute (MILI).
In December 2007, Carlson students teamed with OptumHealth, the country’s leading health and wellness company, and a part of UnitedHealth Group, for a live case presentation. The live case presentation initiative allowed nearly 100 MBA students to analyze the business question, “Should OptumHealth enter the medical tourism business to better serve its clients and grow its business?” Medical tourism is the rapidly growing practice of traveling to another country to obtain health care.
Student teams had two days to assess the marketplace, analyze costs and profit potential, examine risks and benefits, consider organizational fit, and create presentations to showcase their findings and recommendations to faculty members. OptumHealth executives were on hand to answer questions and review the top four presentations. “The live case presentation was a great experience for our organiza-tion,” says Anita Messal, ’03 MBA, chief operating officer of OptumHealth Care Solutions. “We have taken the information and used it in our business planning.”
Opportunity
New undergraduate curriculum: Worldly wiseBeginning in fall 2008, students enrolled in the Carlson School’s Undergraduate program
are introduced to an exciting new experience — one that’s intrinsically global, forward-
focused, and reflective of today’s broad spectrum of enterprise. With the completion
of Herbert M. Hanson, Jr. Hall, the program’s new home, we have made significant
curriculum changes that better equip students to lead in today’s global business world.
Changes include a contemporary management course for freshmen, an immersion
core for sophomores, a new public/nonprofit management major, and an international
experience requirement that is unique among public business schools.
For the five students partnering with corporate sponsor Lake
Region Medical in Chaska, Minn., the class produced a prototype
catheter-based device to facilitate treatment of a neurovascular
condition. The new device is able to travel through the narrow,
tortuous vasculature of the brain and apply treatment precisely
where it is needed. More than 30 prototypes were created in
University of Minnesota labs and tested in vitro. A comprehensive
patent will be filed for the technology.
New product design: From concept to marketThe Carlson School New Product Design and Business
Development program provides students with the opportunity
to apply their marketing, operations, and financial skills to real
product design and business development projects. Students
and instructors like Will Durfee (pictured above) work with
graduate engineering students and company representatives
to develop a product concept, a working physical prototype,
and an extensive business plan. The end result is a product
which the sponsoring company intends to market.
14 15
Success in Singapore: Two winning competitionsTwo groups of Carlson School students participated in case competitions
in Singapore over the past year. Last fall, Carlson School undergraduates
Alana Popp, Kyle Ries, Rosita Villelli, and Scott Sailer (pictured) participated
with 12 other business schools from around the world in Singapore’s
first international business case competition at Nanyang Technological
University. They gained valuable exposure to a variety of global business
approaches. This spring, a group of MBA students participated in the
Cerebration Case Competition. They prevailed as one of six finalist teams
out of 460 competing teams.
Inspiring integrative leadershipChild trafficking, housing initiatives, and regulating sovereign wealth were just a few of the topics explored through a new course on integrative leadership that was team-taught by Professor Paul Vaaler from the Carlson School and Jay Kiedrowski, a senior fellow from the Humphrey Institute of Public Affairs. Carlson School MBA students took part in the course along with graduate students from the University of Minnesota’s schools of law, public policy, public health, and liberal arts. The class illumi-nates the concept of integrative leadership with insights into strategic thinking, conflict resolution, innovation, and policy analysis. Students also tackled actual cases encountered by Minnesota businesses.
Professor Vaaler presented a case based on the impact of global financial markets on the economies of developing countries. As these countries move toward democracy, global financial and political players “work together but don’t know it,” he says. By studying integrative leadership, Vaaler says, we can “create a space where unlikely people can come together and talk.”
Opportunity
Hands-on branding experience: A school trademarkWould Nike-wearers be as swift without the swoosh? Would McDonald’s be as golden without its arches? Brands are big business, and students who participate in the Carlson Brand Enterprise have one-of-a-kind opportunities to consult on actual marketing projects for multinational businesses such as Ecolab.
Ecolab, headquartered in St. Paul, is a leading global provider of cleaning, food safety, and health protection products and services. A team of six Carlson MBA candidates helped the company evaluate brand organization for one of its largest divisions — a plum branding assignment. Before recommending the best divisional brand strategy, the group reviewed thousands of brand possibilities and collected data on competitive dynamics, customer perception, and financial considerations. The students gained unique insight into institu-tional branding, and Ecolab gained all the services of a professional marketing consultancy. According to the client, “Due to the team’s focus and drive, we were able to have a dedicated team of marketers focused on this initiative, with very little interruption to our internal marketing workflow. I could not have asked for more.”
The Carlson School also offers Funds Enterprise, Ventures Enterprise, and Consulting Enterprise. The Carlson School Enterprises are the nation’s largest MBA student-driven businesses.
Net Impact: Empowering Ugandan artisansLast fall, a group of Carlson School MBA candidates participated in the Project Pyramid
national case competition in conjunction with the Net Impact conference. Net Impact is
a national organization of MBA students committed to using the power of business to
create a better world. For the competition, the Carlson School team helped an organiza-
tion representing Ugandan artisans improve its business model and marketing tactics.
The students, Ben Schein, Jennifer Frenzel, Megan Dunbar, and Adrienne Peirce, were
finalists in the competition. The Carlson School’s chapter of Net Impact has a mission
to include ethics and sustainability issues as part of mainstream business education
and business decisions.
Carlson Funds Enterprise:
$25 million at 10-year mark
The Carlson Funds Enterprise was
launched in 1998 to give students
real-world experience analyzing
companies and investing in their
securities. In 10 years, more than 200
students have honed their investment
skills in the Carlson Growth Fund or
the Carlson Fixed Income Fund —
while increasing values significantly.
Today, more than $25 million is distrib-
uted between the two funds, and the
Growth Fund consistently outperforms
its benchmark index. To commemorate
its successful first decade, the Funds
Enterprise is undertaking a fundraising
campaign to pay for lab remodeling,
a fellowship program, technology
systems, and an endowment fund for
operating expenses.
Community
16 17
At the Carlson School, we’ve broadened our definition of community. Our global perspective is wider than ever. Our connections to local and national businesses are deeper. That attitude is expanding our circle of influence, elevating our global presence, and enriching the learning experience for our students.At the Carlson School, MBA students can put their passion for public policy and advocacy to work right in their own neighborhood. West Bank CHANCE (Cedar-Humphrey Action for Neighborhood Collaborative Engagement) is a student-led initiative that aims to strengthen the relationship between the University of Minnesota’s West Bank campus and the Cedar-Riverside neighborhood. Carlson students, through our chapter of Net Impact, launched a neighborhood business fellows program in fall 2008 which gives students a chance to partner with immigrant businesses in the neighborhood to develop case studies and identify key business challenges. Last spring, CHANCE received an Outstanding Partner in Engagement Award for collaboration from the University of Minnesota Office of Public Engagement.
Community
Opportunity
Discovery
18 19
Message to graduates: Think in new waysThe 2007-08 school year was a noteworthy one for the Carlson School, with more than 450 under-graduates and over 850 graduate students receiving degrees at the May commencement ceremonies. Students, families, and friends welcomed a notable (and humorous) keynote speaker: Jeff Greenfield, senior political correspondent for CBS News and host of PBS’s “CEO Exchange.”
In his commencement speech, he shared insights from his interviews with major business leaders, saying that successful leaders listen to their customers, “something that seems so obvious but is often overlooked.” He advised graduates to “keep thinking in new ways and not assume that what was, will always be. When you impose limits on your thinking, you miss opportunities and undermine the potential of yourself and your company.”
Partnerships that expand our commitments The Twin Cities chapter of the National Black MBA Association (NBMBAA) named the Carlson School its
2007 Educational Partner of the Year in recognition of our steadfast commitment to diversity. “A diverse
community helps the Carlson School ensure a vibrant and challenging academic and social environment,”
says Dean Alison Davis-Blake. The Carlson School’s Diversity Initiatives team works closely with the
NBMBAA, National Association of Women MBAs (NAWMBA), and other affinity partners such as the
National Society of Hispanic MBAs (NSHMBA) to increase the diversity of participants within the business
and academic communities.
Students consult with Children’s Hospitals Trauma is the leading cause of death in children. But in the Twin Cities today, the only accredited treatment option for pediatric trauma patients is in the adult system. Children’s Hospitals and Clinics of Minnesota would like to change that. It enlisted the help of five Carlson School undergraduates to investigate the feasibility and costs of implementing a trauma center as part of its campus. Kari Severson, one of the students who participated in the live business case as part of a senior-level honors course on the health care marketplace, said the project was “hands down the most worthwhile academic experience of my undergraduate career.”
This challenging project required students to familiarize themselves quickly with Minnesota’s trauma landscape while acquiring a working knowledge of current legislation and regulations, Children’s internal operations, competitive forces, and more. Key deliverables included several analyses, a marketing assessment, and a business plan. The team collaborated effectively, dividing such specialized tasks as research analysis, statistical modeling, and presen-tation among its members. The project’s culmination — a formal presentation to Children’s executive leadership team — was very well received.
Community
series featured Jill Lajdziak, general manager of Saturn
Corporation, and Reatha Clark King, PhD, former president
and board chair of the General Mills Foundation.
“Inside the Boardroom” airs on Twin Cities Public Television
and is presented in cooperation with the Carlson School chapter
of the National Association of Women MBAs (NAWMBA).
Inside the Boardroom The Carlson School’s “Inside the Boardroom” speaker series
explores the leadership path of women in C-level positions at
some of America’s best companies via a CEO-to-CEO exchange
hosted by Marilyn Carlson Nelson, chairman, Carlson, followed
by a group discussion with a knowledgeable panel of thought
leaders from the school. This past academic year, the biannual
CIO Forum
The management of information is
essential to innovation. For the past
half-century, the Carlson School has
helped drive research and innovation
in management information systems
(MIS), so it was natural that we co-
hosted the CIO Executive Forum. The
event was sponsored in conjunction
with Evanta, an organization that
facilitates executive networks to
support senior leadership needs.
Dean Alison Davis-Blake spoke of
how her father, Professor Emeritus
Gordon B. Davis, played a key role in
establishing the field of Information
and Decision Sciences. The Carlson
School’s program remains one of
the top five of its kind in the world.
20 21Community
The business of nonprofitsEric Jolly, president and CEO of the Science Museum of Minnesota, spoke on, “The
double bottom line: How mission and money come together at the Science Museum,”
at the Carlson School’s First Tuesday luncheon series. Jolly discussed how the Science
Museum manages national and international business partnerships and maximizes
the margins from these diverse industries to advance its mission. He also talked about
how the Science Museum became the most-visited museum in the Upper Midwest
through a unique combination of cutting-edge technology, high-tech entertainment,
and a world-class collection of artifacts and fossils.
Strategies for successful businesswomenMore than 300 women from business, industry, and academia attended “Achieve It: Developing a Strategy for Success,” the fourth annual Women’s Leadership Conference hosted by the Carlson School and sponsored by State Farm Insurance.
The conference featured a cross section of dynamic leaders from different business perspectives, including keynote speakers Professor Linda Babcock, founder of the Program for Research and Outreach on Gender Equity in Society (PROGRESS) at the H. J. Heinz III School of Public Policy and Management, Carnegie Mellon University; and Becky Roloff, CEO of the YWCA of Minneapolis. Professor Babcock is also the well-known author of several best-selling books, including Women Don’t Ask: The High Cost of Avoiding Negotiation.
Through exclusive networking opportunities, the annual Women’s Leadership Conference, and other initiatives, the Carlson School supports the achievement of women in business.
Keeping communities aliveCan a small town maintain its vitality without an anchor business or “company store?”
How can a rural community get on the map, tap technology, and sustain its economic
future? These and other topics were part of a Leadership Education Conference on
“Making Communities Work,” presented by the Extension Center for Community Vitality
and the Center for Integrative Leadership of the University of Minnesota. Keynote
speakers were Joel Barker, futurist, and Tim Penny, president/CEO of the Southern
Minnesota Initiative Foundation and former U.S. representative.
New home for the Business Career CenterThe Business Career Center has been relocated to Herbert M. Hanson, Jr. Hall, the new state-of-the-art facility that also houses the Carlson School Undergraduate program. The new space includes 22 interview rooms, a dedicated room for information sessions, and a recruiter lounge. A skyway connects Hanson Hall to the Carlson School building.
Both the Undergraduate and Graduate Business Career Center staff are housed in Hanson Hall. The center offers events, work-shops, and mock interview programs that help students and alumni launch and advance their careers. Staff works closely with students, providing individual career counseling that helps students prepare for local, national, and international recruiting.
Former Minnesota governor:
“Are we on course?”
Arne Carlson, former Minnesota gover-
nor, addressed the state of the state’s
future when he spoke to a group of
Carlson School alumni at the school’s
“First Tuesday” luncheon series. In
his address, “The Roman Empire
Revisited: Are we on course?,” Carlson
discussed his belief that Minnesota
must decide on a set of values that
will allow the state to regain its status
as a nationally recognized leader in
the fields of health care, education,
and innovation. “First Tuesday” pro-
vides an opportunity for alumni to
hear top-notch executives address
hot topics in business and leadership.
22 23Benefactors
To our generous benefactorsWe are deeply grateful to those who gave cash gifts or made new pledges between July 1, 2007 and June 30, 2008. Although space allows limited listing in this report, we thank all of the alumni, friends, corporations, and foundations whose generosity supports the Carlson School of Management each year.
Corporate Associates
Distinguished Associates $100,000 and above3M Company / 3M FoundationBest Buy Purchasing LLC /
Boker’s IncC H Robinson Worldwide IncCarlson CompaniesChevron CorpCisco Systems IncG & K ServicesGfK Custom Research IncGopheropolyGreater Kansas City Community
FoundationGreater Twin Cities United WayHubbard Broadcasting
FoundationHutchinson Technology, IncKraft Foods Global IncMedtronic Inc /
Medtronic FoundationNorthwestern Mutual
FoundationPenn State UniversityPresto Foundation
Business Associates $5,000 - $9,999ConAgra Foods IncEmerson Charitable Trust /
Bennett PAGreat Clips IncLand O’Lakes IncLommen Abdo Cole King &
Stageberg PAM A Mortenson CoMarvin Windows & DoorsMaslon Edelman Borman &
Brand LLPMesserli & Kramer PARosen’s DiversifiedSmead Manufacturing CoSparboe Farms IncSt. Jude Medical IncTastefully SimpleU-Guide LLCUniversity of Alberta
Individual Benefactors
$1,000,000 or moreAnonymous +Duane L. & Susan E. Burnham +Curtis L. Carlson Family
Foundation + #
$500,000 - $999,999Jean S. C. Ip & the late Po T. Ip +
$100,000 - $499,999Anonymous (2)+Sharon L. & Thomas L. Auth + Robert E. & Gail Buuck + Carmen D. &
James R. Campbell + Charles W. &
Elizabeth C. Mooty + John & Jane Mooty +Arthur B. Schultz +Karin L. Van Dyke + William G. Van Dyke +H. William & Judy D. Walter +
$50,000 - $99,999Jesse J. & Britta Bergland + Kay & Glenn W. Hasse + Lee C. & Barbara G. Kopp + Susie & Duane L. Ottenstroer + Carol L. & Frank D. Trestman + Roy G. & Emily Wetterstrom +
$25,000 - $49,999Thomas E. &
Donna Q. Brady + # Arline B. Dimond + Kay E. Dobbs + Timothy E. &
Valerie K. Doherty + Marlys A. & John C. Gray + Estate of Phyllis E. &
Harold J. Gulde Richard E. & Sandra M. Juntilla + Joy J. Lindsay + Marilyn C. & Glen D. Nelson + # *Jeffrey J. &
Christine D. O’Donnell + Jeffrey G. & Mary S. Scott + # *Brian K. & Megan A. Slipka + *George A. Smith +
Marjorie L. & Donald E. Sveen + Helen H. & Burt E. Swanson +
$10,000 - $24,999Jason R. & Mary A. Ballsrud + # *Karen J. & Brent G. Blackey + # Hugh J. & Kelly Bonner *Newman M. & Lillian Bortnick + Stephen C. Daas + Kenneth J. & the late
Lois M. Drost + # Jane & William H. Dudley + Steven J. Eilertson Lee Ann M. &
Jeffrey M. Ettinger *Michael J. & Karen D. Frey Barbara A. & Edwin C. Gage + *Thomas F. Grose + # *Larry J. & Beverly J. Hinman + # Neil R. Hoagland + Michael J. & Tamara R. Hoffman *Clifford W. Hoffman + # *Catherine E. & Patrick A. Hopf C. Charles Jackson FoundationMark Z. & Judith S. Jones + Robert A. Kierlin &
Mary B. Burrichter Karen A. & Robert J. Knoll + *Robert J. Kueppers + *James A. & Mary G. Lawrence + Richard A. &
Margaret A. Lidstad + Richard P. &
Margaret M. Linnell + Carol F. & Terence R. McTigue + *Jerry & Marilyn E. Mitchell + Francine Y. & Louis V. Nanne + Robert D. & Judy G. Potts + *Patrick T. & Connie J. Prunty + *Jane M. Rademacher Clyde M. & Mary M. Reedy + Bruce A. Richard + Joan T. Smith + John D. & Phoebe M. Stavig Kerry S. &
Christopher A. Swanson + *Terry L. & Virginia M. Tranter + #
$2,500 - $9,999Mark D. Albrecht *Arthur A. & Judy C. Anderson + Gerald E. & Mary E. Anderson + *
Anonymous Christopher G. & Ann Aristides David K. & Mary C. Ashpole + Lee W. Bachman + Margaret M. & Mark T. Bakko Martin O. Bakko Ronald B. Barthell Paul R. Beltz + # Travis A. Boisvert Ryan L. Broshar James E. & Suzann Brown Gerald R. & Jane A. Brown Kathleen M. & John C. Burke Peggy P. & Ralph W. Burnet Patrick B. Callahan & Patricia A.
O’Gorman-Callahan *Jon R. & Susan M. Campbell Carlson Fund — The New York
Community TrustAndrew & Kathleen Cecere + Joseph P. Collins Kristen M. Copham James B. & Sandra A. Dagnon *Jo Ann H. & David A. Dent + Carolyn D. & Alan R. Diamond Robert L. & Judith H. Duffy +Jonathan F. Eisele + # *David L. Estenson + Timothy J. Forstad Lorraine H. &
Donald A. Freeberg + George J. Frey + # *Jeffrey R. & Justine S. Fritz *John E. & Jean G. Geisler *Jeffrey J. & Cathy M. Gendreau Nancy J. & Kenneth C. Glaser + Stanley M. &
Luella G. Golberg + # *Richard S. & Susan Goldman + Matthew D. Haller Gael & Theodore E. Hanson + # *Robert A. & Esther M. Helvig + *John A. & Roberta Henrickson + *Mark J. Heurung *Paul A. Holte + *Mark J. Hornung *Shirley A. & David R. Hubers + Adam T. Jennings Matthew C. Johansen Kevin H. Koehler &
Mary K. Doty Tracy & Adam J. Krasnoff *Ryan M. & Amy C. Kroll *Mary L. KurthGerald A. & Dina Leener + *Scott A. Loveless *Carol A. & Harvey B. Mackay + Jeffrey J. Manderfeld *Malcolm S. &
Sonia R. McDonald + Michael D. McKee &
Jodi M. Dolezal McKee Mary M. Merrill Roger F. & Sarah F. Meyer + Janice L. & Russell V. Michaletz + *
Ronald A. & Marcia Everson + *Brian A. Falk *Leonard D. & Janet Falkingham *Dana Feigel Vivian K. & Jeffrey O. Fink *Travis E. Finstad *Robert W. & Cynthia L. Fleming N. J. & Woodson M. Fountain *Alan J. Freeman Dave Frohn Carol S. & Glen F. Fuerstneau + # *Michael W. & Carol A. Garbisch + Gegax Family FoundationZachary A. Gens Brian K. Gerhardson Chris Geyer David E. Gilmore *Joseph W. Glenn *I. J. & Rolland E. Glessing + # *Joyce & Jerry Golden *Kevin M. Gromley &
Nancy J. Scott *Stephanie C. Grossman John D. Grupe *Ronald P. & Julie K. Hafner *John H. Hammergren Michael J. Hanson Thomas Harjes Kristina K. &
Thomas J. Hauschild # George V. Head Michael A. & Jennifer B. Hecht *Matthew Heimermann Russell B. & Linda S. Heise *Marjorie J. & Donald A. Helmer # Donald E. &
Joanne R. Heltner + # *Drew M. Hensel Margaret G. Heppelmann &
Michael Wacek Merle Hilliard
Roland G. Barrett Jamie Lyn J. Bartlett *Daniel R. Bauer *Ryan Bavery Bruce W. & Mary A. Beckman *Frank B. & Carol J. Bennett John C. Bergstrom + Jeanne L. & Kullen J. Birkeland *Robert A. & Beth J. Bjork + Norman P. &
Constance L. Bjornnes + Mary Pat Blake +Janet K. & John E. Bohan + *Paul D. Borseth *Michael W. Bowman *David H. Brainer *John R. Brennan Wayne Brown Juliet R. Bryan *Wallace G. Carson *Hollie J. & Robert D. Caughey *Alex E. Chamberlin Zachary H. Cohen Donald J. Conlin Jeffrey D. & Melinda Cotton *Dwayne D. Daugaard *Randolph K. Davison *Scott N. & Ann C. Dayton Jeff Deyoung Ryan D. Dibrito Jacqueline A. & Jay A. Dobbs Donna J. Dobbs Daniel Dryer Matthew B. & Vickey Dudley Todd A. & Dana W. Dye *Scott Ebert Barbara R. Eiger # Bruce W. Engelsma Peder C. Erickson Scott R. Erickson *
Scott E. Miller *Cindy S. & Lawrence H. Mohr Bruce W. & Ann T. Mooty + Patrick & Kristina Morton *Joseph R. & Kathleen K. Mucha + Pamela & Lynn A. Nagorske Joyce I. & Justus D. Naumann Jay D. Nibbe # *Jeffrey & Linda Noddle Jennifer Novak FoundationLaureen M. O’Brien *Charles M. &
Victoria L. Osborne + James R. Otieno Maureen E. Pechacek + *John R. Peirson *Debra A. & Gregory A.
Peterson + Dwight A. & Marjorie S.
Peterson + # *Estate of Esther M. &
Burton J. Plehal Carl & Eloise Pohlad
Family FoundationLynn M. & Jeffery L. Radunz + *Gary B. & Susan H. Rappaport Tim Ribbens Marian A. & Curtis A. Sampson + Martha R. & William J. Saul + Wayne Schiferl Kurt C. Schmid *L. James & Claire Schoenwetter + *Judi C. & Allan L. Schuman + Jon Seltzer Phillip G. Semmer * #Craig S. & Mary T. Siiro Michael R. & Barbara B. Sill + Chantal & Robert J. Simon + *Jesse C. Slocumb Mark J. Spartz &
Kimberly K. French + Melanie & Thomas O. Staggs Robert C. Steiner + # *Ron Szarzynski Derek J. Tamm *Patricia R. Thayer + Angela M. Vikesland Chris Wahrman Winston R. & Maxine H. Wallin + Renae L. Welder *Jean E. Wicks # Scott A. Wolf *William D. Zollars Terri L. Zuraff *
$1,000 - $2,499Elizabeth W. & Alden A. Abraham David H. & Helen J. Abramson *Peter W. Ahn # Alton FoundationKarolyn S. Anderson # Hector R. & Lois M. Anton # *Andrew D. Bailey *Timothy R. & Kathryn Ball *Richard E. & Diana L. Ballsrud
Best Buy makes $1 million gift to Learning LabWhen Herbert M. Hanson, Jr. Hall opened this fall, undergraduate business students were the first to use an innovative new facility: the Best Buy Learning Lab. Best Buy donated $1 million toward the lab, which is a state-of-the-art technology study center featuring wireless capability, individual workstations, collabora-tive work spaces and laptop lockers.
“Hanson Hall’s new Learning Lab is the perfect place to help students connect with technology and facilitate collaboration and the informal exchange of ideas,” says Paula Prahl, Best Buy’s SVP for Communications, Public Affairs and Corporate Responsibility.
“Sponsoring it was a good fit with our corporate goals of helping foster an entrepreneurial environment and sup-porting the pivotal role that universi-ties play in communities.”
Benefactors whose gifts were matched are indicated by an asterisk ( *). If your gift was not matched within the fiscal year, it will be noted in next year’s Annual Report. Benefactors who have contributed for 10 consecutive years are denoted by a pound sign (#). Members of the Presidents Club are indicated with a plus sign (+).
24 25Making connections with the Carlson School Parents FundWhen their son started at the Carlson School three years ago, Frank and Carol Bennett were eager to get involved but unsure about the opportunities for parents. After talking with faculty and staff, they uncovered a unique option: teaming with the school to launch a special Carlson School fund for parents.
“The Parents Fund provides monies that directly sup-port undergraduate student activities, programs, and services,” says Carol. “It allows parents to contribute in their own way at any level that’s comfortable for them. It’s satisfying to know that your contributions are mak-ing a difference for your child and for other students.”
Starting the Parents Fund was a natural for Frank and Carol whose connections to the
University go deep. They — and both sets of their parents —
are University of Minnesota alumni. Additionally, both have stayed involved over the years on various alumni
committees and boards.
Benefactors
William A. & Suzanne H. Hodder +
Bryson D. & Cathryn A. Hollimon +
David N. Holtze *Timothy A. Huebsch *John D. & Katherine R. Hughes # Dawn M. Hukai Hilda E. & Keith E. Jacob # Jeffrey T. & Stacy R. Janiak *Holli & Michael Johander George & Deborah R. John David B. Johnson *Daniel P. & Brittney K. Johnson Haseong Joo *Dean A. Jorgensen *Paul J. Jungquist # Pamela J. & Stephen E. Kairies + *Wayne A. & Robyn Kaul *Richard L. Kelsey Donald C. & Julie R. Kemp *David J. Klein *Stephen R. & Margaret C. Klick William Harmon &
Marjorie A. Komp *Mark S. Konings &
Paige Chernow *Jessica Kosmowski *Roger H. & Mary Ann Krinke *Michael Krueger Steven C. & Sarah J. Kumagai + Jacob J. Laabs Steven W. & Nancy J. Laible + *Ann M. Larson Janet B. Larson Lenora Y. & Chak Chi Lau Patrick T. Lee *Matthew J. Lenertz & Stephanie
Streit Lenertz *Mary E. & Anthony Leone *John Lindell Richard T. & Lois I. Lindgren Daniel B. & Claudette J. Luitjens Christian F. Lundsgaard Jon Mammen Ruth S. &
C M. Mandery + # *Brian J. Matthews *Robin & Paul Maynard *Ruth M. &
Christopher R. Mayr + *Leah McGillis &
Zachary G. McGillis *Denny M. &
Lynne J. McNamara # Charles H. Meyer *Gregory S. Mickelson *Jason T. Micks *Rebecca J. & Norman E. Miller *Jennifer M. Miller Pamela K. & Carlton E. Mix Moret Family Charitable FundRoss Munson Jim Murray Terry Nelson Dowlan R. Nelson *
Donald M. Nicholson Terry R. Nygaard # *Doreen H. O’Brien &
Jeffrey D. Engel Howard V. O’Connell + Kevin R. Ondracek Margaret A. Osborne # Katherine M. & Mark R. Pacyna *Holly A. & Jeffrey A. Parker # Grace C. Parsons + Rhonda L. Paulsen Benjamin Pearson Patrick L. Pechacek *Adrienne B. Peirce Gary P. & Sharon M. Peterson # *Erin A. & Donald J. Phillips Robert R. & Joan H. Piche Kevin D. & Julie Pike Lyndsey K. Primus Kenneth E. & Patricia J. Puffer + Tyler J. Purdy Kathleen M. Pytleski Paul J. Quast Mickey & Ronald Radakovich + Sandra & Michael M. Radtke Maureen B. & Eric S. Rangen Joanne W. & Lars A. Reierson *William J. Rennicke *Giselle M. Restrepo John B. Richardson David J. & Janice L. Ring Ryan Rogers Stacy D. Rubsam &
Elizabeth F. Draxten + # *Alan K. Ruvelson + #Hee C. Sagong Carolyn J. Sampson &
Kathleen A. Connelly *Wendy Sasaki Benjamin H. Schein Douglas J. &
Margaret J. Schmalz + *Charles H. & Kimberlee A. Self + Gary R. Semmer Paola A. Serrate Vineet Shukla Howard E. & Wendy R. Slagter *Jennifer M. Sliwinski Lennie R. & Kenneth A. Slocumb Samuel J. Smith John B. & Rebecca J. Soebbing *Frederick D. Spencer Frances H. Sprouse # Mary S. & Josh S. Stahl Mark F. Steen Lynn M. & F. D. Steiner *Stephen & Susann Stenbeck *Steven Stensrud Charles H. & Lois D. Stoddard *John B. Stone Kurt L. Strand *Patricia K. &
Robert W. Strickland # *Stephen Stroup Wawa & Alice Sulaeman
Best Buy Company IncRobert A. & Beth J. BjorkBrent & Karen BlackeyBruce G. BlackeyMary Pat BlakeDale E. Lindquist &
James C. W. BockTravis A. BoisvertHugh & Kelly BonnerKevin & Carrie J. BorenPaul D. BorsethMichael W. BowmanDavid BrainerGerald BrownSuzann BrownWayne BrownJuliet R. BryanJohn & Gwen BuddMerrill C. BurgstahlerJohn C. BurkeRobert J. BuscherPatrick Callahan &
Patricia O’Gorman-CallahanJim & Carmen CampbellJon & Susan CampbellCampbell FoundationCargill/Cargill FoundationGary L. CarlsonKathryn J. CarlsonWallace G. CarsonJoAnn CatalanoHollie J. & Robert D. CaugheyAndrew & Kathleen CecereTerry ChildersWarren G. ChristiansonCitizens of MinnesotaBrian J. ClarkChristopher P. CorbeyJeffrey D. CottonCurtis L. Carlson Family
FoundationStephen DaasJames DagnonDwayne D. DaugaardGordon B. & LaNay F. DavisAlison Davis-Blake &
Michael L. BlakeJanice I. DeGrossMike & Geri DelaneyDeloitte/Deloitte FoundationDeluxe Corporation FoundationJeff DeYoungCarolyn D. & Alan R. DiamondIn Honor of Joseph &
Marie DiBritoArline B. DimondMildred M. DoeringDonaldson Company/
Donaldson FoundationMatthew & Vickey DudleyWilliam H. & Jane DudleyRobert L. & Judith H. DuffySotheary C. DuongColleen & Jim DurdaBlake & Britta DurtscheScott Ebert
Patrick G. Thielen *Steven R. &
Colleen M. Thompson *Marcia K. Townley + Wei-Chi Tsai Mohamed M. Turay Anthony D. & April L. Wagner + *Steven N. Wander &
Tara M. Sabby *Margaret A. &
William C. Watson *Elizabeth & Richard B. Weigel + Juliet A. & Jeffery M. Weirens *Vaughn T. Welling *James M. Whisler *Edwin M. White & Liz Fasciana *Philip H. Whittaker William R. & Anne Wight Margaret L. & Duane D. Wiita *John A. Wilgers *Angela J. Williams Robert M. Wiseman James V. Wittich *Sarah M. Yates Akbar & Srilata Zaheer Fredrick D. Zahn *Wade A. & Alison A. Zander *David B. Ziegler *
Hanson Hall Benefactors
(all gifts of $500 or more toward the construction of Hanson Hall)Anonymous3M Company/3M FoundationAbbott LaboratoriesDavid H. AbramsonAlbert C. Neufeld Charitable
Lead TrustMark D. AlbrechtLloyd A. AmundsonElmer L. & Eleanor J. AndersenIn Honor of Frayne &
Eleanore AndersonRoger & Alicia AndreGuneet ArnejaDavid S. AronicaAssociated BankLee W. BachmanMark BakkoMartin BakkoTimothy & Kathryn BallDavid F. BalstadRoland BarrettRonald B. BarthellJamie Lyn J. Bartlett &
Katherine YoutsosDaniel R. BauerBruce W. & Mary A. BeckmanEsayas Yilma BedasoRita & Mark Benassi
Ecolab/ Ecolab FoundationSteve & Irene EdgettM. Nazie EftekhariJonathan F. EiseleAmy C. EklundJeffrey K. EricksonPeder C. EricksonScott EricksonErnst & Young LLP/
Ernst & Young FoundationAllison B. EvansGordon C. EverestBrian A. FalkEdwin M. & Liz Fasciana WhiteSara J. Fenlason & Trisha KirkAudrey A. FenskeLisa A. FerrisJohn L. FeslerRobert L. & Jocelyn C. FindorffElaine & David Fink FamilyVivian K. & Jeffrey O. Fink FamilyN. Jean FountainAlan J. FreemanRyan K. FrenchJeffrey & Justine FritzJames M. & Mary J. FroislandLynn M. Fussy &
Timothy B. HamerEdwin C. & Barbara A. GageGage Family FoundationSonny GanYu Gao & Shuming LuoJohn E. GeislerJeffrey J. & Cathy M. GendreauGeneral Mills/
General Mills FoundationDavid E. GilmoreChip & Nancy GlaserDennis J. GoetzStanley M. & Luella G. GoldbergJoyce & Jerry GoldenNeil & Barb GoodwinGraco Inc/Graco FoundationGraduate Business Career
Center StaffKevin Gromley & Nancy ScottGTM ServicesVinod P. & Mary K. GuptaThomas A. & Shelley C.
Gustafson FamilyRonald P. & Julie K. HafnerMatthew D. HallerJan Hallstrom & Les LeiderJohn HammergrenBarbara N. &
Herbert M. Hanson Jr.Michael J. HansonSteven R. & Pamela M. HansonTom HarjesChristopher James HaslingKristina & Thomas HauschildLisa HauserHB Fuller Company/
HB Fuller FoundationDavid W. HegewaldEmily & Matthew
Gregor Heimerman
Anne M. McDonaldMalcolm S. & Sonia R. McDonaldDon & Stephanie McFarlingZach & Leah McGillisMichael D. McKeeTimothy P. McKeeverCarol F. & Terence R. McTigueMedtronic/
Medtronic FoundationKarine M. MenschMary M. MerrillRuth K. & Roy J. MeyerRussell V. & Janice M. MichaletzIn Honor of Julie A. Mickelson In Memory of
Marie A. MickelsonJason T. MicksMicrosoft CorporationPhillip J. & Michele MillerScott E. MillerLawrence H. MohrLaurence & Arlene MontanCharles W. &
Elizabeth C. MootyJohn W. & Jane N. MootyLaura Moret & Patrick RooneyMoret Family Charitable FundBennett & Sharon MorganTracey MostaertBarbara MowryRoss MunsonRyosuke MurayamaJim MurrayLynn A. & Pamela NagorskeDavid & Monica NassifDavid & Joyce NaumannWilliam G. & Donna A. Neale
Patrick T. LeeGerald & Dina LeenerJohn & Dianne LeisenMatthew J. &
Stephanie Streit LenertzSteven Lensing & FamilyVera J. LikinsJohn LindellRichard T. & Lois I. LindgrenRichard LinnellMarcia & Jim LockmanBarbara J. LokenScott LovelessDaniel & Claudette LuitjensCurtis M LundLurie Besikof Lapidus &
Company LLPJohn O. & Elizabeth LyngstadIn Honor of
Stephen John LyngstadIan MaitlandBrian MallaroManagement Information
Systems QuarterlyManagement Information
Systems Research CenterJeffrey J. ManderfeldAlfred A. & Judy MarcusJarad A. MargolisHerbert & Lesle MargolisMarsh & McLennan CompaniesAnita B. MattsonMary Anne & John J. Mauriel Jr.Maxwell Bay Limited LLCPaul MaynardChristopher R. & Ruth M. MayrMBA Programs Staff
Benefactors whose gifts were matched are indicated by an asterisk ( *). If your gift was not matched within the fiscal year, it will be noted in next year’s Annual Report. Benefactors who have contributed for 10 consecutive years are denoted by a pound sign (#). Members of the Presidents Club are indicated with a plus sign (+).
Kay Crandall HelgersonLacey Scott HennenJohn A. & Roberta HenricksonHeath & Lisa HertelMark J. HeurungLarry J. & Beverly J. HinmanWilliam A. & Suzanne H. HodderClifford HoffmanMichael J. & Tamara R. HoffmanHarriet Thwing HoldenBryson & Cathy HollimonPaul A. HolteSue HooperHormel Corporation/
Hormel FoundationMark J. HornungDavid R. & Shirley A. HubersNatalie & Andrew HunterIBM International FoundationInformation Technology StaffIngersoll-Rand Charitable
FoundationInternational Dairy Queen IncInternational Programs OfficeBurton J. IversonMike & Kim JackelenJeffrey & Stacy JaniakMichael & Holli JohanderGeorge & Deborah JohnTodd S. JonesEdward J. JoycePaul J. JungquistStephen E. KairiesEric D. KaphingstWayne & Robyn KaulJeremiah KeehnDonald & Julie KempBrad KennedyJoel KilloranPaul Y. KimSusan KimmelRoger L. & Jean L. KingWilliam J. KingNarendra N. & Sarika KirpalaniVictor W. KirschDavid J. KleinRobert J. KnollKevin H. KoehlerMatthew P. KollingWilliam H. & Marjorie A. KompMary Maus KosirJessica KosmowskiAdam J. KrasnoffKari M. KrausIn Honor of Harold H. &
Helen J. KrinkeRoger H. & Mary Ann KrinkeRyan M. & Amy C. KrollMichael KruegerRobert J. KueppersMary L. Kurth FamilyDale & Kathryn LampsonPatrick M. LarsonLarsonAllen LLPJames A. & Mary G. LawrenceGwanhoo Lee
26 27Benefactors
Glen D. & Marilyn C. NelsonSteven M. & Christine D. NelsonTerry NelsonJohn NeterDonald M. NicholsonJanusz NiwinskiJeffrey & Linda NoddleNorthwestern Mutual
Financial Network: Columns Resource Group
Northwestern Mutual FoundationBruce F. NoyesSteve NygrenJudd T. NystromDoreen O’Brien &
Jeffrey D. EngelLaureen M. O’BrienPeter R. OffenhauserJeffrey R. OheDale R. & Nancy OlsethTimothy H. & Patricia R. OlsonOperations and Management
Science FacultyCharles & Victoria OsborneA. Bernhard OstbyPaula OsterDuane L. & Susie OttenstroerKatherine M. & Mark R. PacynaPam Hanson Agency IncIn Honor of Marc PartridgeSteven N. PattisonPatrick L. PechacekJohn R. PeirsonShannon PeloquinPentair Inc/Pentair FoundationHeather PerlaGreg & Deb PetersonRobert R. PichéPiper Jaffray CompaniesRachel PolsonRobert & Judy PottsRichard F. PowersPricewaterhouseCoopers
FoundationMara ProellPatrick T. & Connie J. PruntyArtur M. PruszkoKen & Pat PufferNicolas A. & Brandy L. PyleJess & Bethany QuamNii-Ayite A. QuayeJeff & Lynn RadunzEric RangenJudy & Gene RayburnFrancesco RedivoBarbara Pearson Refling &
Owen A. ReflingJames Reilly FamilyLarry RemingtonWilliam J RennickeTim RibbensJerry & Peggy RinehartAllison & Bernard J.
Robichaud Jr.Peter W. & Sharon Robinson
David A. ThueToro Company/Toro FoundationTravelers/Travelers FoundationJames B. & Cheryl TreleavenMatthew TrokUndergraduate Business Career
Center StaffUnion Pacific CorpUPS Foundation IncUS Bancorp/
US Bancorp FoundationKarin Van DykeWilliam Van DykeDon M. VandeWalleVirchow Krause &
Company LLPKirsten VosenAnthony D. WagnerBruce I. WallerMaxine H. & Winston R. WallinDavid E. WalstadH. William & Judy D. WalterAndrea & John WamboldSteven N. Wander &
Tara M. SabbyWilliam C. WatsonBrandon & Jodi WayneScott A. &
Martha Massopust WeichtRichard & Elizabeth WeigelJuliet A. & Jeffrey M. WeirensRenae WelderVaughn WellingWells Fargo Bank NA/
Wells Fargo FoundationRoy G. Wetterstrom
Richard W. WeyrauchJames M. WhislerWhitney FoundationJean E. WicksJoshua & Carolyn WielandFrederick & Rachel WightJohn A. WilgersHugh N. WilliamsNathan A. &
Shelly Sangalang WindomAndrew Winton & Judi LambleRobert L. & Olive J. WisemanScott A. WolfLinda W. WooJohn G. WoodWoodbury District
Network OfficeFumio YamadaLinda & David YimLoran C. YoungSri & Aks ZaheerMahmood A. ZaidiShariffah ZamoonDavid Brian ZieglerWilliam D. ZollarsTerri L. Zuraff
While we make every effort to ensure the accuracy of our benefactor listing, we occasionally find errors. If you note a problem or omission, please accept our apologies, and contact Roberta Collins (612-624-5256 or [email protected]) so we may correct our records. Gifts in this listing were cash gifts and pledges made between July 1, 2007 and June 30, 2008.
Wayne A. RoswickIn Honor of Robert RuekertT. Eileen RussellScott & Jill RyndaMinoru SadayasuRobert J. SallmanCurtis A. SampsonWayne SchiferlJoel A. & Diane M. SchleicherKurt C. SchmidCraig C. SchmidtAric W. SchroederParker J. SchultzDale Schumacher &
Deborah HawkinsAllan L. & Judi C. SchumanDavid L. SchwartzHoward W. &
Jeannie M. SchwartzJeff & Mary ScottSteve & Rena SearlSecurian FoundationCraig L. SeitelGary R. SemmerPhil G. SemmerStacy Marie SendenBob & Pam SenklerJ. Myles ShaverPreet SidhuLisa & Scott Sieling FamilyVernon SielingCraig S. SiiroRaj SinghHoward E. & Wendy R. SlagterBrian & Megan SlipkaKen & Lennie SlocumbTed & Missy SmithJason D. &
Barbara J. Sorensen FamilyRobert D. Sparboe FamilyJohn SpoonerH. Barry SpragginsGreg & Andrea StackThomas O. & Melanie StaggsMark F. SteenStephen & Susann StenbeckSteven StensrudGerald W. StilesAnne & Brad StonebergJames C. StordahlKurt StrandRandy & Michelle StrobelWawa SulaemanSUPERVALU FoundationChristopher A. SwansonRon SzarzynskiRasmus Jon TallaksenDerek J. TammTarget CorporationTCF FoundationDavid TerryPatrick G. ThielenDavid M. & Lane A. ThompsonSteven R. Thompson
Creating a legacy of opportunity Glenn, BSB ’63, and Kay Hasse created the Kristine Kay Hasse Undergraduate Scholarship last year to financially help business students and to honor the memory of their daughter.
Glenn, a Carlson School graduate and former Alumni Advisory Board member, is a strong advocate of the value of an undergraduate business education. When he and his wife Kay decided to create a legacy for their daughter, they thought of the Carlson School.
“Our daughter never had a chance to attend college,” Glenn says. “She was a great student with good business sense and I believe she would have thrived in the business world. To ensure that another student has the opportu-nity to prepare for a career in business, we created a
scholarship for an undergraduate from outstate Minnesota.”
Glenn and Kay recently received a thank-you note from the first scholarship recipient. “It’s satisfying to know that she will benefit from our help while
furthering her education.”
Faculty, enrollment, and student profiles
Full-Time MBA (92 students)Male 73%Female 27%Students of color 8% Geographic representation Minnesota 39% Other U.S. 32% International 29%Average years of work experience 4.5
Average undergraduate GPA 3.37
Average GMAT 661
Part-Time MBA (316 students)Male 62%Female 38%Students of color 16% Average years of work experience 5.8
Average undergraduate GPA 3.36
Average GMAT 622
Carlson Executive MBA (59 students)Male 60%Female 40%Students of color 6%Average years of work experience 15.4
Average undergraduate GPA 3.2
Accepted employment offers 90 days after graduation (Spring 2008):Bachelor of Science in Business 94%Master of Business Administration (Full-Time) 91%
Carlson School statistics2007-2008 faculty composition:107 tenured and tenure-track faculty, including 20 endowed chairs
28 full-time instructional faculty
2007-2008 school-wide enrollments by degree program:Bachelor of Science in Business 1,866
Master of Business Administration programs 2,201
Global Executive MBA 218
Master of Arts in Human Resources and Industrial Relations 228
Master of Business Taxation 96
Master of Accountancy 30
PhD in Business Administration 79
PhD in Human Resources and Industrial Relations 21
Total enrollment 4,739
2007-2008 incoming class profiles by program:
Undergraduate Freshman (435 students)Male 50%Female 50%Students of color 14% Geographic representation Minnesota 72% Wisconsin 17% Other U.S. 10% International 1%Average high school class rank 94th percentileAverage ACT 27.9
2928 Financial report
Statement of financial position (In thousands of dollars)
Year ended June 30, 2008 FY07 FY08 % change
Revenues
Tuition, fees, and executive education $54,939 $61,986 13%
Financial reportThe Carlson School of Management made significant strides in fiscal year 2008 (July 1, 2007 through June 30, 2008) toward securing a financial foundation for excellence. Our strategic plan includes three goals specific to the school’s financial health: 1) Diversify the school’s revenue streams to reduce dependence on any single revenue source; 2) Achieve operational excellence within the Carlson School and maximize operational efficiencies; and 3) Develop clear, consistent mechanisms for promoting engagement (through gifts of time, talent, financial, and other resources) among our applicants, students, parents, alumni, and business and community leaders and practitioners.
To drive a future of excellence throughout the Carlson School we must develop a balanced financial portfolio. Tuition continues to be our most significant source of revenue, followed by state funding, endowment earnings and gifts, and consulting and training contracts. Grants for sponsored research typically are an insignificant source of revenue for business schools. With state support for the school flat or declining and tuition rates at or near the market maximum, we must be increasingly creative in funding our academic infrastructure and operations.
This year saw moderate tuition increases across all programs while student enrollments increased to record levels in several programs, including the part-time MBA and undergraduate programs. While increasing enrollments generate additional revenue for the Carlson School, it also obligates us to increase expenses for services and programs necessary to support a growing student body in a superlative learning environment.
Increasing enrollments amplify the pressure on our most finite of resources — our faculty. Our most pressing financial needs are for recruiting and retaining world-class, tenure-track faculty. Tenure-track faculty are essential to academic excellence in every dimension of our mission, and the school’s last significant strategic investment in tenured faculty was made in the 1960s. Today, we are making major investments in competitive faculty compensation, endowed chairs and professorships, and the research infrastructure to support faculty and doctoral student productivity. It will require a sustained annual effort to achieve visible progress toward growing the faculty, but it is an investment that truly will pay superior dividends for the next 50 years.
Executive education and private philanthropy hold opportunities to relieve the pressure on tuition and the historical dependence on state support. Private philanthropy made several key initiatives possible this year. Chief among these were: 1) The completion of Herbert M. Hanson, Jr. Hall and the start of renovations of the existing Carlson School of Management building; and 2) A dramatically larger number of undergraduate scholarships, including scholarships designated for international study.
As the Carlson School grows and expands, we are mindful of being good stewards of the University’s institutional assets. We continue to participate in University cost-saving initiatives such as consolidation of information technology infrastructure and energy-saving programs in our buildings, as well as leveraging University services to support faculty teaching excellence.
Sources of revenue
• Tuition, fees, & executive education $62.0 M
• State funding 13.6 M
• Endowment earnings and gifts 8.1 M
• Consulting and training 2.3 M
• Grants and contracts 0.5 M
Expenditures
• Personnel $48.2 M
• Central administration services 17.6 M
• Operating expenses 11.2 M
• Research salaries and expenses 4.5 M
• Scholarships 2.9 M
71%
16%
9%3% 1% 4%
57%
21%
13%
5%
30 31Faculty
Faculty (as of September 2008)
Accounting
Asst. Professor Ming DengPhD, Columbia Univ.
Assoc. Professor Gordon DukePhD, Univ. of Georgia
Asst. Professor Clayton ForesterPhD, Univ. of Iowa
Asst. Professor Yu GaoPhD, Univ. of Chicago
Professor Frank GiglerPhD, Univ. of MinnesotaCurtis L. Carlson Chair in Accounting
Assoc. Professor Zhaoyang GuPhD, Tulane Univ.
Asst. Professor Tom IssaevitchPhD, Columbia Univ.
Professor Edward JoycePhD, Univ. of Illinois, Urbana-ChampaignAssoc. Dean of MBA Programs
Professor Chandra KanodiaPhD, Carnegie Mellon Univ.Arthur Andersen & Co./ Duane R. Kullberg Chair in Accounting & Information Systems
Professor Judy RayburnPhD, Univ. of IowaDepartment Chair
Assoc. Professor Pervin ShroffPhD, Columbia Univ.
Asst. Professor Ivy ZhangPhD, Univ. of Rochester
Finance
Assoc. Professor Rajesh AggarwalPhD, Harvard Univ.
Professor Gordon AlexanderPhD, Univ. of MichiganJohn Spooner Chair in Investment Management
Asst. Professor Santiago BazdreschPhD, Yale Univ.
Asst. Professor Frederico BeloPhD, Univ. of Chicago
Professor John BoydPhD, Univ. of PennsylvaniaFrederick Kappel Chair in Business & Government Relations
Professor Robert GoldsteinPhD, Univ. of California-BerkeleyC. Arthur Williams, Jr./Minnesota Insurance Industry Chair
Asst. Professor Jeremy GravelinePhD, Stanford Univ.
Professor Murray FrankPhD, Queens Univ.Piper Jaffray Chair in Finance
Asst. Professor J. Felix MeschkePhD, Arizona State Univ.
Professor Timothy NantellPhD, Univ. of Wisconsin
Assoc. Professor Stephen ParentePhD, Johns Hopkins Univ.
Assoc. Professor Paul PovelPhD, London School of Economics
Asst. Professor Doriano RuffinoPhD, Boston Univ.
Assoc. Professor Rajdeep SinghPhD, Carnegie Mellon Univ.Curtis L. Carlson Professor of Finance
Asst. Professor Tracy Yue WangPhD, Univ. of Maryland- College Park
Professor Andrew WhitmanPhD, Univ. of Wisconsin
Professor Andrew WintonPhD, Univ. of PennsylvaniaMinnesota Chair in Banking & Finance Department Chair
Asst. Professor Jianfeng YuPhD, Univ. of Pennsylvania
Human resources and industrial relations
Assoc. Professor Ross AzevedoPhD, Cornell Univ.
Professor Avner Ben-NerPhD, State Univ. of New York- Stony Brook
Assoc. Professor Joyce BonoPhD, Univ. of Iowa
Professor John BuddPhD, Princeton Univ.Industrial Relations Land Grant Chair
Assoc. Professor Michelle DuffyPhD, Univ. of Arkansas
Assoc. Professor Theresa GlombPhD, Univ. of Illinois, Urbana-ChampaignCarlson School Professor of Human Resources & Industrial Relations
Asst. Professor Lisa LesliePhD, Univ. of Maryland
Asst. Professor Colleen ManchesterPhD, Stanford Univ.
Professor John RemingtonPhD, Univ. of Michigan
Professor Jason ShawPhD, Univ. of ArkansasCurtis L. Carlson Professor of Industrial Relations
Professor Connie WanbergPhD, Iowa State Univ.Industrial Relations Faculty Excellence ChairDepartment Chair
Professor Yijiang WangPhD, Harvard Univ.
Information and decision sciences
Professor Carl AdamsPhD, Purdue Univ.
Assoc. Professor Gediminas AdomaviciusPhD, New York Univ.
Assoc. Professor Ravi BapnaPhD, Univ. of Connecticut
Professor Norman ChervanyDBA, Indiana Univ.Carlson School Professor of Information & Decision Sciences
Professor Shawn CurleyPhD, Univ. of Michigan- Ann ArborPhD Program Director
Professor Alok GuptaPhD, Univ. of Texas-AustinCurtis L. Carlson Chair in Information ManagementDepartment Chair
Professor Paul JohnsonPhD, Johns Hopkins Univ.Curtis L. Carlson Chair in Decision Sciences
Asst. Professor Gautam RayPhD, Ohio State Univ.
Asst. Professor Yuqing RenPhD, Carnegie Mellon Univ.
Assoc. Professor Mani SubramaniDBA, Boston Univ.
Marketing and logistics management
Assoc. Professor Rohini AhluwaliaPhD, Ohio State Univ.
Professor Mark BergenPhD, Univ. of MinnesotaCarolyn I. Anderson Professorship in Business Education Excellence
Professor Rajesh K. ChandyPhD, Univ. of Southern CaliforniaJames D. Watkins Chair in Marketing
Asst. Professor Tony CuiPhD, Univ. of Pennsylvania
Asst. Professor Jane Jenkins EbertPhD, Harvard Univ.
Asst. Professor Vladas GriskeviciusPhD, Arizona State Univ.
Assoc. Professor Robert HansenPhD, Univ. of Wisconsin
Professor Michael HoustonPhD, Univ. of Illinois, Urbana-ChampaignEcolab-Pierson M. Grieve Chair in International MarketingAssoc. Dean, International Programs
Professor Deborah Roedder JohnPhD, Northwestern Univ. Curtis L. Carlson Chair in Marketing
Professor George JohnPhD, Northwestern Univ.General Mills/Paul S. Gerot Chair in MarketingDepartment Chair
Professor Barbara LokenPhD, Univ. of Illinois, Urbana-Champaign
Professor Joan Meyers-LevyPhD, Northwestern Univ.Margaret J. Holden & Dorothy A. Werlich Professor of Marketing
Asst. Professor Prokriti MukherjiPhD, Univ. of South Carolina
Assoc. Professor Om NarasimhanPhD, Univ. of Southern California
Professor Akshay RaoPhD, Virginia Tech.General Mills Chair in Marketing
Asst. Professor Joseph ReddenPhD, Univ. of Pennsylvania
Professor Kenneth RoeringPhD, Univ. of Iowa
Professor Robert RuekertPhD, Univ. of Wisconsin-MadisonAssoc. Dean of Undergraduate Programs
Asst. Professor Carlos TorelliPhD, Univ. of Illinois
Assoc. Professor Kathleen VohsPhD, Dartmouth Univ.McKnight Land Grant Professor
Operations and management science
Professor John AndersonPhD, Univ. of Minnesota
Assoc. Professor Robert ConnorPhD, Univ. of Pennsylvania
Assoc. Professor Karen DonohuePhD, Northwestern Univ.
Assoc. Professor Susan Meyer Goldstein PhD, Ohio State Univ.
Professor Arthur HillPhD, Purdue Univ.John & Nancy Lindahl Professorship for Excellence in Business Education
Assoc. Professor William LiPhD, Univ. of Waterloo
Assoc. Professor Kevin LindermanPhD, Case Western Reserve University
Professor Chris NachtsheimPhD, Univ. of MinnesotaCurtis L. Carlson Professor of Operations & Management ScienceDepartment Chair
Assoc. Professor (Manus) Johnny RungtusanathamPhD, Univ. of Minnesota
Professor Roger SchroederPhD, Northwestern Univ.Frank A. Donaldson Chair in Operations Management
Asst. Professor Rachna ShahPhD, Ohio State Univ.
Asst. Professor Enno SiemsenPhD, Univ. of North Carolina, Chapel Hill
Professor Kingshuk SinhaPhD, Univ. of Texas-AustinCurtis L. Carlson Family Foundation Professor of Management Science
32 Faculty
Strategic management and organization
Assoc. Professor Stuart AlbertPhD, Ohio State Univ.
Professor Alison Davis-BlakePhD, Stanford Univ.Dean, Carlson School of ManagementInvestors in Leadership Distinguished Chair in Organizational Behavior
Professor Norman BowiePhD, Univ. of RochesterElmer L. Andersen Chair in Corporate Responsibility
Professor Bruce EricksonPhD, Michigan State Univ.
Asst. Professor Daniel ForbesPhD, New York Univ.
Asst. Professor Sophie LeroyPhD, New York Univ.
Asst. Professor Arik LifschitzPhD, Columbia Univ.
Professor Ian MaitlandPhD, Columbia Univ.
Professor Alfred MarcusPhD, Harvard Univ.Edson Spencer Endowed Chair in Strategy & Technological Leadership
Professor Mary NicholsPhD, Univ. of Kansas
Professor Harry SapienzaPhD, Univ. of MarylandCurtis L. Carlson Chair in Entrepreneurial Studies
Assoc. Professor Pri ShahPhD, Northwestern Univ.
Professor Myles ShaverPhD, Univ. of MichiganPond Family Chair in the Teaching & Advancement of Free Market PrinciplesDepartment Chair
Asst. Professor P.K. TohPhD, Univ. of Michigan
Assoc. Professor Paul VaalerPhD, Univ. of Minnesota, Carlson School of Management
Professor Andrew Van de Ven PhD, Univ. of Wisconsin-MadisonVernon H. Heath Endowed Chair of Organizational Innovation & Change
Asst. Professor Gurneeta VasudevaPhD, George Washington Univ.
Professor Akbar ZaheerPhD, Massachusetts Institute of TechnologyCurtis L. Carlson Chair in Strategic Management
Professor Srilata ZaheerPhD, Massachusetts Institute of TechnologyElmer L. Andersen Chair in Global Corporate Social ResponsibilityAssoc. Dean, Faculty & Research
Professor Shaker ZahraPhD, Univ. of MississippiRobert E. Buuck Chair in Entrepreneurship
Assoc. Professor Mary Zellmer-BruhnPhD, Univ. of Wisconsin-Madison
Alison Davis-BlakeDean
Michael HoustonAssociate Dean, International Programs
Edward JoyceAssociate Dean, MBA Programs
Robert RuekertAssociate Dean, Undergraduate Programs