Sunday, October 31, 2010

Wake Forest Team Wins Howard Case Competition

A team from the Wake Forest University Schools of Business took home the top prize last week in a case competition hosted by Howard University.
Joy Fuller, Ahkesha Murray and Talib Graves-Manns clinched victory - and a $5,000 prize - by beating teams from MIT, Georgetown and UNC-Chapel Hill in the final round. The case, sponsored by LMI Consulting, asked students to create a supply chain concept for a fence project along the border with Mexico. Georgetown came in second, while MIT Sloan was third.
"This case competition enabled us to showcase not only what we learned in the classroom but also our ability to collaborate to tackle complex business problems," Fuller said.
This is the fourth straight year that a Wake Forest team has placed in the Howard MBA Case Competition. The team's faculty advisor was Derrick Boone.

Saturday, October 30, 2010

Marketing Summit Unveils Bigger Top Prize

During Thursday’s kick-off event, the committee behind the 2011 Marketing Summit announced several “upgrades” for the case competition’s 21st year. The biggest change is an sizable increase in the top prize, which now stands at $75,000!

The Marketing Summit will also provide the winning undergraduate team with a trophy – complimenting the cracked egg award that historically goes to the winning graduate team.

Next year will also feature more networking opportunities for team members. There will be a new networking event on Thursday night before teams embark on their 36-hour sessions. Perhaps more intriguing is scheduled time on Saturday following the awards ceremony, when sponsors can identify individual case participants for one-on-one discussions.

These are just a few of the ways that this year’s committee hopes to raise the stakes next year. Stay tuned for more updates as we get closer to the event.

Friday, October 29, 2010

Walmart CEO at Wake Forest: Video Highlights

Mike Duke, president/CEO of Wal-mart Stores Inc. discusses "Leading Global Growth" on Sept. 28, 2010, at the Worrell Professional Center on the Wake Forest University campus. His presentation was part of the Schools of Business "Leading Out Loud" executive lecture series made possible by the Broyhill Family Foundation.

Elevator Competition Starts Social Media Campaign

Just months away, the creative student minds behind next year's Elevator Competition are active on the Internet. Here are ways you can get an early feel for the event via social media. And don't forget the main website, found here.

Find the Elevator Competition on

Thursday, October 28, 2010

VF Corp. to Sponsor 2011 Marketing Summit Case

VF Corp., a global leader in branded lifestyle apparel, is the case sponsor for next year's Marketing Summit!
Teams participating in the 21st annual case competition will have the opportunity to become familiar with two of VF's leading brands.
Graduate student teams are expected to develop innovative solutions for The North Face, while the event's undergraduate competitors are scheduled to work on a case involving Nautica.
"The case competition provides value to VF in several ways, including access to new ideas and perspectives and an opportunity to assess and recruit talented students well versed in marketing strategy and tactic," said Paul Mason, a company spokesman.
Mason said VF, based in Greensboro, chose The North Face and Nautica for the competition because both brands "should be familiar to the competition participants and provide compelling case studies."
VF's ties to Wake Forest run deeper than the Marketing Summit. Mike Gannaway, vice president of VF Direct/Customer Teams, has been a judge. VF chairman, president, and CEO Eric Wiseman earned a B.S. and MBA from the university and he serves on the board of visitors for the Schools of Business.
Each year, Wake Forest University attracts talented marketing minds from top MBA and undergraduate programs nationally to participate in the Marketing Summit -- a student-run competition that offers students the opportunity to apply their marketing skills and creativity to real-world marketing challenges. VF follows a tradition of landing high-quality case sponsors that have included IBM and PepsiCo.
Stay tuned. Over a short 36-hour period, teams work around the clock to craft a strategic marketing plan to address a given challenge. At the end of the competition, the sleep-deprived students present their solutions to a panel of industry-leading experts.

The Business of Cemeteries

Halloween, All Saints’ Day and Day of the Dead are celebrated with ancient rituals that help the living remember the dead – at least for a day.

For the rest of the year, we have cemeteries to memorialize lost ones. In these sacred spaces, the richest man in town rests beneath the tallest monument, the graves of little children are distinguished with nursery images and spouses remember their departed husband or wife with favorite Biblical passages or other expressions of love on their tombstones — each of these gestures a legacy to their unique lives.

But according to Wake Forest University legal scholar Tanya Marsh, these traditional and personal burial customs are increasingly being replaced with corporate-style conformity in modern cemeteries, where maximizing efficiency and profits is radically changing the look and feel of American cemeteries.

“The American cemetery is becoming a reflection of the desires of the funeral services industry rather than the wishes of the American public,” Marsh says. “The irony is that the laws that once gave great deference to families regarding burial practices, are now being used to institutionalize a commercial norm at the expense of individual choice, family custom and religious beliefs.”

For much of American history, Marsh says there were few laws governing cemeteries other than those for land use, health and safety. For example, cemeteries cannot be close to a city’s water supply. In the last 100 years, however, Marsh says the cemetery industry persuaded state legislatures to create laws regulating the creation of new cemeteries. Even for non-profit organizations, such as families and churches, the cost to build and maintain a cemetery, no matter the size, is for the most part prohibitively expensive.

“As a result, in urban areas especially, large for-profit cemeteries dominate the competition so that, for example, in Indianapolis, one company controls 56 percent of the burials,” Marsh says.

And because these cemeteries set the rules, families and individuals are given little choice. Rather than variety, the cemeteries control the size and materials used in monuments, even the wording on tombstones in some places, and many make no accommodation for environmentally friendly, or “green” burials.

Marsh says the changes in American cemeteries are starkly noticeable to anybody who has visited old cemeteries and then a new one. In new cemeteries, the deceased are buried below steel and concrete vaults and then the ground is compacted to make for a level, unbroken vista of grass. Marsh says that cuts down on lawn maintenance. The same is true for the size and variety of tombstones. Newer cemeteries require that tombstones be flush to the ground in order to make for easier mowing.

The limited choices and lack of variety in burial decisions is largely going unnoticed by the American public, Marsh says.

“Very few people think about this ahead of time and when the time comes, they’re constrained because they’re having to make a decision on a short timeline,” she says.

By MEREDITH DICKENSON Office of Communications and External Relations

Tuesday, October 26, 2010

Audi and Kamen to Lecture in November

Nov. 17 is shaping up to be a great day for guest speakers at the Wake Forest University Schools of Business.

Robert Audi, a professor and author, will lecture at 3:30 pm on Egoism, Altruism and Objectism as Ethical Standards in Business. He will lecture at Carswell 111 (Annenburg).

Ambition is often considered essential for success in business. Is it anything more than disguised greed? Can the right kind of ambition be a virtue? Is ambition compatible with altruism, or does altruism entail self-sacrifice that deserves the condemnation we seem to find in, for instance, Ayn Rand? Might altruism be an ideal for the religious side of life, but unrealistic in business? How are these traits-ambition, greed, and altruism, related to trust? Does leadership depend on any of them-or on trust?

Audi is the author of 13 books, including the recently published, "Business Ethics and Ethical Business," and more than 200 papers in journals and edited volumes. He is a past president of the American Philosophical Association and has served as general editor of the First Edition (1995) and Second Edition (1999) of The Cambridge Dictionary of Philosophy.

Audi's talk will end in time for the next speaker.

At 5 pm, Dean Kamen, the founder of DEKA Research and Development, will speak as part of the ongoing Broyhill Executive Lecture Series. His lecture will be at Worrell 1312.

In his talk, “Personal Passion Changes the World,” Dean will discuss his various inventions and work, including a new water purification system. Kamen is an inventor, an entrepreneur, and a tireless advocate for science and technology. He invented the “Segway,” “AutoSyringe,” a new type of mobile dialysis system for medical applications, the first insulin pump, and an all-terrain electric wheelchair known as the iBOT.

For more information, contact Joanne Davidson at

Directors Corner: Get to Know Others

I trust that you are all doing well and enjoying the fact that you are now past the halfway point of the semester! Thanksgiving and Christmas breaks are rapidly approaching. As the end of the semester approaches things can get a bit hectic and stress levels can increase. Please try to make sure that you are taking time out for yourself and getting plenty of exercise during these crunch times.
I understand that there are many intramural sports teams already set up through the graduate programs. These are an excellent way for you to have something fun to do, besides coursework of course, and to get to know others. If you are not currently involved in these activities I strongly encourage you to consider them. More teams will be forming as we move into the winter and spring so there will be plenty of opportunities for you to get involved.
I would also like to take this opportunity to update you on some important MSA events:
We'll be hosting a Town Hall meeting for all students who have recently joined us from other universities on Wed., Nov. 3rd at 5 pm. Please plan to join Jan and me and discuss the transition to Winston-Salem, Wake Forest University services, job searches, and your current course load. We want to hear how things are going for you and hope that you will be willing to share your experiences with us.
We are setting up a Town Hall meeting soon for all MSA students (those who have been here and those new to our campus). We would like to hear about program issues and concerns that relate to everyone and may not be as related to transition to a new place. Please plan to attend this event as soon as it is set.
We're still looking for MSAs to compete in the KPMG Global Case competition. Please let Dr. Cianci know if you are interested in participating in this event.
~ Yvonne Hinson

Hatch Still On ... Picnic Delayed

Due to weather conditions, the Fall Campus Picnic scheduled for today (Oct. 26) has been postponed. The picnic will now take place next Tuesday, Nov. 2, on Hearn Plaza. The picnic is free to students, faculty and staff, and their families.

President Nathan O. Hatch will still deliver his State of the University address as scheduled today, at 4 p.m., in Wait Chapel.

Monday, October 25, 2010

Wake Forest Professor to Chair Local Board

Gordon McCray (left) has been named chairman of the Southeastern Center for Contemporary Art Foundation.

McCray is senior associate dean for undergraduate and auxiliary programs and the BellSouth Mobility Technology Faculty Fellow at the Wake Forest University Schools of Business.

Other new directors at SECCA include J. Wesley Davis, a client advisor at Deutsche Bank Alex Brown; Noel L. “Skip” Dunn, president of Aon Risk Services (Holdings) of the Americas; Jean R. Irvin, retired executive director of Forsyth Futures; and Tom Tiner, regional manager of Wells Fargo Advisors.

Marketing Summit Sponsor to be Named Oct. 28

The 2011 Marketing Summit will announce this next's case sponsor at a special event scheduled for Thursday, Oct. 28. The much-anticipated sponsor announcement event will start at 5 pm. It will be held in the atrium of Kirby Hall and refreshments will be available. Additionally, the Wake Forest University MBA case team will be introduced at this event.
Who will it be?

Saturday, October 23, 2010

Ethics and Greed Explored in Panel Discussion

In the film Wall Street, Gordon Gekko declares, "Greed is good." But is it? More importantly, what are the ethical dilemmas faced by young and veteran managers who operate within a system that has as its foundation the accumulation of wealth? Those topics and more will be covered on Thurs., Oct. 28, at a special event at Carswell 111 (Annenburg) at the Wake Forest University campus.
Devin SmithDevin Smith, a Wake Forest Schools of Business graduate (left) who is a producer for Brave New Films and the company's business manager, will explore ethical questions inherent in self-interest through a presentation on Ethics and Corporate Greed.
20081002raheja6659 The event will also include a panel discussion with audience participation. Panelists include Business School Professor Charu Raheja (right), Business School Student Andrew Singer, and Political Science Student Austin Shrum.
Smith was also a producer at Robert Greenwald Productions where he co-produced the critically acclaimed documentaries Outfoxed: Rupert Murdoch’s War on Journalism and Uncovered: The War on Iraq. At Brave New Films, he has produced Wal-Mart: The High Cost of Low Price and was the supervising producer on two documentary TV series: The ACLU Freedom Files and The Sierra Club Chronicles.
Smith also oversees the operations and business affairs of Brave New Films and is producing Iraq For Sale: The War Profiteers. Prior to producing film and television projects in Los Angeles, Smith founded and operated a graphics company (Ideas to Images) in North Carolina. He also worked for several years for indie film company DownHome Entertainment. He received his BS degree in business from Wake Forest University’s Wayne Calloway School of Business and Accountancy. He is also a graduate of the American Film Institute (AFI) where he earned his Master of Fine Arts degree in Motion Picture Producing.
The event, set to run from 5-6:30 pm, is sponsored by BEM Professional Development Ethics Series and the BB&T Center for the Study of Capitalism.

Thursday, October 21, 2010

State of the University - and Picnic!

President Nathan O. Hatch will deliver his annual State of the University address to faculty, staff and students on Tuesday, Oct. 26, at 4 pm in Wait Chapel. Following his address, the annual fall Campus Picnic will be held on Hearn Plaza. The picnic is free to students, faculty and staff and their families. In case of rain, the picnic will be held on Tuesday, Nov. 2.

Why is DeaconLink Important?

DeaconLink is a Web-based resource the Career Management Center provides that connects students with:

  • Schools of Business events (descriptions of the events, location, time). These events include information sessions, panels, career fairs and on-campus interviews. Just this month: the Meltwater Group, Wal-Mart, PepsiCo, the Vanguard Group, Morgan Stanley, Syngenta and Red Ventures have come for information sessions. Also, Marc Cosentino visited campus to conduct mock case interviews, and there was a Finance Industry Panel and an Operations Industry Panel.
  • Who is coming on campus and sign up for interviews with them. In recent weeks Bank of America, Resurgent Capital Services, Ernst & Young, Duke Energy, and Frito-Lay have come to Worrell Professional Center to interview potential candidates.
  • Job opportunities. Many of the job opportunities on DeaconLink have a connection with the CMC; there is a relationship developed between the center and these companies.

To access DeaconLink:

1. Go to the Schools of Business Homepage

2. Click on Intranet in the top right corner of the page

3. Click on Career Management Center

4. Log onto DeaconLink in the bottom left corner of the page

Wednesday, October 20, 2010

Pumpkin Carving Next Week!

The SGA will host its first annual pumpkin carving event in the Worrell Courtyard on Wednesday, Oct. 27 from 4-7 pm. We will have food, beer, and other beverages. We will provide the pumpkins. We ask that you bring any carving tools needed as there will be a limited supply. Families are invited and we'll have a pumpkin carving contest for the children as well as the adults with prizes awarded to the winners in each category.

To prepare for this event, we need you to complete a brief survey on if you plan to attend and how many pumpkins your family will need. If possible, please complete the survey no later than 9 pm on Friday, Oct. 22.
Click here for the survey.

Career Development Day

The Working Professional and Alumni Career Development Day will be happening on Oct. 28 from 4-7 pm in the 2nd floor study rooms in the Wake Forest University Worrell Professional Center.
Thus far the companies attending are: Liberty Hardware, RMIC and Ajilon Professional Staffing
This is an opportunity for you to interview for openings the company has (perform a screening interview), or conduct informational interviews for companies you are considering after graduation. Interviews will happen in the study rooms on the 2nd floor of Worrell. You will have an opportunity to have a brief 20-30 minute conversation/interview with recruiters from several different companies.

Keep the date in mind!

Tuesday, October 19, 2010

Blackstone Exec to Participate in Panel Discussion

It is with great excitement that I announce the second event in the Demon Deacon Invest Connect Series. This program aims to engage the Wake Forest community with some of the financial industry’s most brilliant and dynamic leaders. While visiting Wake Forest, these leaders will discuss a myriad of topics including foreign exchange, private equity, and asset management.

We invite all to join us on Wed., Oct. 20, from 5-7 pm in Greene Hall (Room 145) where Doug Ostrover of the Blackstone Group will be presenting several case studies along with three team members. Ostrover is a senior managing director of The Blackstone Group and a founder of GSO Capital Partners (a Blackstone subsidiary). Before co-founding GSO Capital in 2005, he was a managing director of Credit Suisse First Boston.

Prior to that, Ostrover was global co-head of the leveraged finance group of CSFB. He was responsible for all of CSFB's origination, distribution and trading activities relating to high yield securities, leveraged loans, high yield credit derivatives and distressed securities. Ostrover was a member of CSFB's management council and the fixed income operating committee.

Ostrover received a BA in Economics from the University of Pennsylvania and an MBA from the Stern School of Business of New York University. He is on the board of the Michael J. Fox Foundation. Following the presentation, there will be a Q&A session.

It is my hope that you will think of ways these companies and leaders can be involved with your classes, and I encourage you to attend this event so we may take full advantage of their visit. Please let me know if I can be of further assistance.

Jim Dunn

Vice President and Chief Investment Officer

Wake Forest University

Monday, October 18, 2010

Director’s Corner: Why Are You On This Journey?

BooneD Now that midterms are over, I hope you took time to enjoy your fall break (albeit only one day) and while doing so, reflect on what you've accomplished thus far. As part of your reflection, think about why you began and continue on this journey called graduate business school. Are you doing it for the extrinsic rewards that come with getting a good grade, or for the lifelong benefits that come from what you learned?

Your classmate, Melanie Miller, shared with me an essay entitled Now Hear This: Grades v. Learning that she wrote for Professor Lovett's management communication course:

"From my years of early childhood education … I have been trained to work hard so I may have something to show for it. Often this tangible proof of my work ethic would manifest itself in the form … [of] grade markings indicating high performance. Consequentially, we have developed such a simple logic where we assume hard work will yield high performance, which will reap rewards. Reliance on this logic could prove devastatingly disappointing when placed in an environment where it is countered…

[S]cholastic environments with the prevailing view that the only way to be successful in school is to obtain high marks force students to habitually sponge information and then regurgitate it onto examinations. The problem behind this behavior is the obsession over grades while completely forgetting that the reason [we] are in school is to learn. Students tend to consider grades to be more important than the material.  Moreover, this binge and purge learning style does not build up analytical, critical thinking, or problem solving skills for the student. Thus, the student has a high likelihood of being ill prepared for the professional environment despite [his or her] high grades. … [F]ear of failure conditions students to work for high grades rather than the actual knowledge the grade is supposed to incentivize."

Admittedly, this has been a stressful three months, filled with hard work, late nights, and more readings and problem sets than you though were humanly possible to do. But you did it. And I hope you did it for the right reasons.

~ Derrick Boone

Friday, October 15, 2010

Biz School Alum to Become Wake Forest CFO

Wake Forest has named B. Hofler Milam senior vice president for finance and administration and CFO. Milam, who will join the university in December, is the vice president for finance and treasurer at Duke University.
Prior to joining Duke in 2003, he held leadership posts at the Wake Forest School of Medicine and QualChoice of North Carolina, a health maintenance organization affiliated with Wake Forest University Baptist Medical Center. He received a bachelor of science degree in accounting in 1976 and his MBA in 1991, both from Wake Forest.
“I am excited about returning to my alma mater and being part of the Wake Forest community,” he said. “President Hatch’s vision for the education of the whole person is especially compelling, and I look forward to joining his leadership team.”
At Duke, he has overseen an array of accounting and financial functions, including administrative systems, budgeting, procurement, payroll, payables, the controller’s office, financial reporting, the bursar’s office, treasury and cash management, as well as university stores and real estate.
In addition to overseeing the University’s financial operations, Milam will assume responsibility for administrative operations such as human resources, facilities and campus services, and the University’s real estate and business operations.
Those areas presently fall under Vice President for Administration Matthew S. Cullinan, who is taking a new position as senior adviser to President Hatch. Cullinan will be responsible for special initiatives growing out of the University’s strategic plan and the upcoming capital campaign.
“Hof Milam brings to Wake Forest exceptional skills and experience, as well as a deep understanding of and appreciation for higher education and for this university,” President Hatch said. “His commitment to transparency and collaboration have been well demonstrated in his work at Duke University and are important Wake Forest values as well.”

Thursday, October 14, 2010

CFA Review Scholarship Created to Honor Wake Student

Becker Professional Education CFA Review is honoring the memory of Wake Forest University Schools of Business student Brent A. Rosenberg (09', MA '10) with a full scholarship for its Level 1 CFA Review. The scholarship will be awarded annually on Dec. 15 to a current Wake Forest student sitting for the June Level I CFA Exam.

“This scholarship honors Brent’s commitment to excellence in pursuing the Chartered Financial Analyst designation and his success as a student in Becker’s Review for the CFA Exams,” said Ally Traetto, regional manager, Becker Professional education. “Brent’s example will surely inspire others to follow in his footsteps.” Brent was a student in Becker’s CFA 1 review class this past spring and passed the exam in June on his first attempt.

After completing his degree in economics from Wake Forest University, Brent entered the Master of Arts in Management program. He was inducted into Beta Gamma Sigma, the highest honor a business student can receive in an undergraduate or master’s program at a school accredited by AACSB International. He recently moved to California to work as a financial analyst for Wilshire Associates when he died as a pedestrian in an automobile accident.

"Brent Rosenberg was a special young man. He was liked and respected by his teachers and classmates alike. He embodied the Pro Humanitate ideal: he was bright and curious, loved to learn, and was kind and generous to everyone he met. I am so pleased we can do our small part in honoring Brent and his family with this scholarship. Thank you, Ally and Becker/Stalla!" said Sherry Jarrell, Professor of Practice of Finance and Economics, Wake Forest University Schools of Business.

“Brent’s family is very pleased that Ms. Traetto and Professor Jarrell were able to feel Brent’s glowing, endearing personality and its positive effect on those with whom he interacted. We thank Ms. Traetto and her Becker Professional colleagues for creating this scholarship and Professor Jarrell and her colleagues at Wake Forest for fostering this tribute to Brent,” said Frank Rosenberg, Brent’s father.

The Brent A. Rosenberg Becker CFA Review Scholarship will be awarded based on student excellence and financial need. Students interested in applying are encouraged to contact Sherry Jarrell at

To apply for the scholarship, applicants should provide a written statement of 250 words or less describing why you should be considered for the scholarship. Recommended information includes contributions to Wake Forest University, future career goals, your decision to pursue the CFA Charter, and why purchasing the review would be a financial burden. Applications should be submitted to Ally Traetto at by Dec. 1, 2010.

Hoop Dreams With the Dean

Later this month, Dean Reinemund will sponsor the 2nd Annual "Backyard Ball with the Dean" tournament. This event is open to all graduate and undergraduate level students & faculty. Games will be played Oct. 23 from 9 am - 2 pm and Oct. 24 from 2 pm to 7 pm.

Last year was a battle among 8 teams to be #1, and we are sure that this year will be as competitive -- if not more! Prizes along with "bragging rights" will be given out to the team who manages to get the most wins. If you think your skills are up to par then please create a team of 5-6 players.

Send the name of your team and team captain to Please have you team submitted no later than 5 pm on Oct. 21.

GE Healthcare Exec to Speak at Wake Forest

Dean Cikins, a senior client executive with GE Healthcare, will be speaking in Worrell 3209 on Thursday, Nov. 4, at 4 pm, about "The Key to Effective Change."

A synopsis: Process improvements drive financial and patient care results, but do they have to take so long? A single project can take months. And why is change so stressful? Making change last seems like a constant uphill struggle. There must be a way to finish projects faster and show people how new processes enhance patient service and make work life better. Learn about General Electric’s best practice for making change stick.

This should be of interest to students with operations, change management and/or healthcare interests. Dean has presented the GE Healthcare approach to process improvement and change culture management to a variety of groups, and plans for bring colleagues from GE Healthcare to interact with attendees. They will stay after his lecture to take questions and interact with students. The Deaconlink registration will be helpful but is not required for attendance.

I hope to see you there!

Warm Regards,

Len Preslar

Wednesday, October 13, 2010

Business School Professor Joins Federal Advisory Board

Wake Forest University School of Law Professor Mark Hall has been appointed to the membership of one of the federal advisory boards that is implementing a part of the new health care reform law.
The Patient Protection and Affordable Care Act requires the Secretary of Health and Human Services to establish the Consumer Operated and Oriented Plan Program, and provides for an Advisory Board to the program. According to the statute, the purpose of the CO-OP program is to foster the creation of a nonprofit health insurance issuer to offer qualified health plans in the individual and small group markets. The advisory board helps to determine which applicants will receive $6 billion of loans and grants to establish consumer-oriented nonprofit health insurers, according to Hall.

The Act requires the Comptroller General of the United States to appoint the Advisory Board’s 15 members from among individuals with qualifications described in section 1805(c)(2) of the Social Security Act.

Hall is a professor of law and public health at Wake Forest, specializing in health care law and policy, with a focus on economic, regulatory and organizational issues. His primary appointments are in the Schools of Medicine and Law, but he also teaches in the university’s Schools of Business.

Hall is one of the nation’s leading scholars in the areas of health care law and policy and medical and bioethics. The author or editor of 15 books, including Making Medical Spending Decisions, and Health Care Law and Ethics, he is engaged in research in the areas of consumer-driven health care, doctor/patient trust, insurance regulation and genetics. He has published scholarship in the law reviews at Berkeley, Chicago, Duke, Michigan, Pennsylvania, and Stanford, and his articles have been reprinted in a dozen casebooks and anthologies. He regularly consults with government officials, foundations and think tanks about health care public policy issues.

~ Lisa Snedeker

Reynolds CEO to Discuss "The Art of Leadership"

Reynolds American Inc. chairman and CEO Susan Ivey is the next speaker lined up for Wake Forest's Leading Out Series. Her talk, set for Thursday, Oct. 21, at 4 pm is titled: "Two Ears, One Mouth: The Art of Leadership Communication at Every Level In An Organization."

Ivey's discussion promises to be an insightful look into corporate communications, as well as her own path to the top of the business world.

She is ranked No. 22 in Fortune magazine's 2010 list of the 50 Most Powerful Women in Business, No. 75 in Forbes magazine's latest World's 100 Most Powerful Women, and No. 33 in the Financial Times 2009 Top 50 Women in World Business.

The discussion will be held at Worrell 1312.

Tuesday, October 12, 2010

Need a Break: Suggestions for the Weekend

With fall break coming up this weekend, now is a good time to toss out some activities to help you get away from the past two months of seemingly non-stop work. Check these out!

  • Go hiking! There are plenty of mountains to the west in need of exploration!
  • Steve Hofstetter, a standup comedian based in New York, will be returning to the area for a special show at Open Space Theatre (4609 West Market St., Greensboro) on Sunday, Oct. 17 at 8 pm. The main thread of his standup act is a focus on education ~ so as a thank you, Hofstetter is offering anyone involved in an educational institution a $3 ticket to see his show. Normally the tickets are $20, but if you visit here and use PromoCode EduTHREE, they’re just $3!
  • On Oct. 16, local author, Gary Bolick, will be at Barnhills Books - reading from and signing copies of his books, Angel's Oracle and A Snowman in July.
  • On Saturday, Foothills Beer School is back. Tickets are $10 per person, which includes a detailed class on the brewing process, a brewery tour, and samples of all the beers we currently offer. To sign up for the “class,” just email with your name and the number of people you are bringing.
  • Sullivan Farm will host a clinic with renowned horseman Buck Brannaman Oct. 15-18, in Walkertown. Brannaman, inspiration for the main character in The Horse Whisperer, will guide riders in getting unbroken horses going under saddle each morning. He will teach a class of mounted horsemanship every afternoon. His non-aggressive training methods are based on communicating trust and respect to the horse. Admission is $25.

A Conversation With Ann Scales

Our neighbors in the Law School hosted professor Ann Scales last week, yielding a very interesting session. We thought we would post a report, given a career that overlaps with corporate America. Enjoy! Also, an audio version of her talk can be found here.
By Audrey Fannin
Ann Scales’ career has come full circle. She began her career with a Wall Street law firm defending corporations in product liability lawsuits, became known for work on pivotal feminist and civil rights cases, and is now developing a product liability law that will protect victims.
The daughter of former Wake Forest University president, Ralph Scales, she grew up on a college campus and has spent the past 30 years teaching law.  She is currently a law professor at the University of Denver Sturm College of Law.
In a wide-ranging “Conversation with…” session on Oct. 5 punctuated by applause and laughter, Professor Shannon Gilreath invited Scales to share stories from her career and her groundbreaking work in feminist jurisprudence.
After graduating from Harvard Law School, where she founded the Harvard Women’s Law Journal, Scales took a job with a New York product liability law firm. There she helped defend the Ford Motor Company against liability suits over its notoriously explosive Pinto automobile.
“I had to question myself when I began to feel sorry for the Ford Motor Company,” Scales said.  “Here I was, looking through photographs of charred bodies and telling myself, that’s not so bad.”
Scales said she had an epiphany when she received party favors from Ford including a cigarette lighter with a Pinto on it.  “You know, it’s an incendiary device!  I had to quit.”
Scales joined an all-female law firm in Beverly Hills, which funded its race and sex discrimination cases by taking on movie star divorces.  It was a bizarre way to learn family law, she said, where the stars ran up the other side’s bills just to torture each other.  But Hollywood clients pay their lawyers bills, so that allowed them to continue their civil rights work.
When Scales was invited to teach law at Iowa she found her true calling as a professor and has never looked back.  She announced proudly that she hasn’t had a paying client since 1980.
“I have a salary so I can be picky about what cases I participate in, so I never have to charge the client – but I am always representing clients.”
Why teach?  “The hours are better,” she laughed, “but the teaching part of it is a sacrament to me.  I love the law and I love teaching.  I believe that education is not something that has to be endured; it’s the best time in your life.  So I try to participate in that by making it a happy, singing, dancing time – in my product liability class!”
Scales has been involved in several groundbreaking cases on equality.  Scales noted that “for all intents and purposes, the right to abortion was lost in 1980” when the U.S. Supreme Court ruled that states are not obligated under Medicaid to pay for abortions for indigent women.  In 1992, while teaching at the University of New Mexico, Scales worked on a precedent-setting case involving public funding of abortions for poor women.  The New Mexico Supreme Court was the first to uphold public spending on abortion.  But what was important about it, Scales said, is that was it was decided under New Mexico’s Equal Rights Amendment.
“It was the first time you see a court unanimously saying that reproduction has historically been used as a sword against women.  It’s since been taken up by many other states – it was a biggie.”
Scales was later involved in a Canadian case involving pornography, harm to women and free speech, which rocked the feminist movement.  The Canadian Supreme Court embraced the view that pornography was not simply a matter of free speech but of harm to women and those treated as women, and that it could be legally defined and regulated on the basis of women’s equality.
The case she worked on took the issue one step farther, with the court ruling that if homosexual pornography doesn’t meet the definition of harm, that it cannot be discriminated against and banned from import into Canada.
Scales said the pornography decision was the first time feminists were no longer “all on the same team,” and it caused a dreadful split in the movement.  Even so, she said, it was worth it, because the understanding of equality developed in that case made it possible to expand the idea of equality into so many areas of American law, including the definition of sexual harassment in the workplace.  Ultimately, Scales said the feminist movement is stronger for it.
“Since the 1970’s, feminism has been the most successful jurisdictional movement.  The post-modern critics of feminism have nothing to show for their work,” she said, “so I’m very pleased with our continuing legal achievements.”
As a recent breast cancer survivor, Scales is now turning her attention to companies that develop cosmetics and pharmaceuticals that cause sex-specific cancers and signature diseases, including those that target men.  She is exploring causation-shifting legislation that would require chemical companies to show what they knew and when they knew that their product was dangerous.
“So now I’m working on a statute with California legislators to require chemical companies to prove their way out of causation,” she said, “because it’s impossible for a plaintiff to prove their way in.
Scales’ advice to law students was emphatic: “Don’t do work you hate!  When I found myself feeling sorry for Ford, I had the wherewithal to quit.  I learned a lot, but if you find yourself in a job you hate, or at some deep level you know it’s corrupt, don’t do it anymore.”
And she encourages lawyers to swing for the fences.  Scales has a history of taking on cases nobody thought she could win.  When she took the University of Colorado football gang rape case, she was told she couldn’t win against a football giant.  When she represented feminists who filed suit to prevent the Olympics from going forward in Los Angeles, the headlines read “Uppity women sue sacred cow.”
“How delicious!” said Scales, “And we won!  It was my legal team that got the Olympics to bring back the women’s marathon and now we have equity in number of events, because it was just in 1980 that women had 40% fewer events.”
Scales challenged the Wake Forest law students, “Go ahead and sue the Olympics!  And if you win, what a gas!”
Photo courtesy of Wake Forest University

Monday, October 11, 2010

Director’s Corner: Embodying the Spirit of Wake Forest

WFU Business School Headshots 8-20-09 What could be better?  There is a nip in the air, the football season is in full force (though our Deacs are not doing so well), and everybody is knee-deep in coursework and job searches. For returning students, I hope that your summer went well and that you are focused on getting everything you can from your "concentration year."

The CMC office should be abuzz as you meet with your coaches and prepare to find that perfect job! For first-year students, hopefully the "what did I get myself into?" feeling has subsided and you are settling into a regular, though challenging, routine. I checked the fire hose yesterday and it was still turned on, full force!

I have just spent much of the last four weeks having one-on-one meetings with every first-year student. It has been a pleasure getting to know each one of you and to learn about your experience at Wake thus far. I have heard good feedback which will help us improve our program. I have heard about new friendships, successes, disappointments, speeches, favorite classes, challenging classes and teamwork. I am confident that you are all off to a solid start!

Of all the things I’ve heard during these meetings, there is one which makes me very proud. Over and over, the first year MBA students have spoken about the support which they’ve received from second-year students. It has taken various forms. Second-year advisors are providing excellent advice and support to their first-year teams and individuals within those teams. Second years are actively reaching out to first years to participate in clubs, organizations and activities. Second-year leaders are offering great leadership opportunities to first-year students. In short, there appears to be a concerted, intentional effort from second years to reach out to first years in every way possible. I can’t tell you how happy this makes me and how much I appreciate these efforts.

This is the spirit and the culture we promote at Wake Forest and you guys are doing a great job of embodying that spirit!

~ Sherry Moss

Friday, October 8, 2010

Bilas Wants to Reform the NCAA

Don’t expect Jay Bilas to lead a full-court press for reforming college athletics by advocating for more rules. Instead, the former Duke University basketball star and current television basketball analyst said it’s college athletics’ governing body, the NCAA, that needs to be reformed.

The NCAA has far too many rules that don’t make sense and create problems where none existed before, said Bilas, speaking at Wake Forest University as the latest speaker in the University’s “Voices of our Time” speaker series.

“The NCAA has got to change,” he told a large audience in Brendle Recital Hall Thursday night. Otherwise, he said, major athletics conferences and schools could start their own post-season basketball tournament – depriving the NCAA of most of its revenue — and shut down the NCAA.Jay Bilas

The NCAA must start over by giving up two of its guiding principles — fairness and the sanctity of amateur athletics, Bilas said in his speech, “College Sports Inside and Out.”

That effort has resulted in a byzantine set of rules that are unnecessary and impossible to enforce. If every rule was followed, most college athletes would be ineligible, he said.

One rule specifies what schools can provide in locker rooms — fruits, nuts and bagels — and what they can’t provide — peanut butter. “If it sounds ridiculous, it’s because it is ridiculous.”

Rules that limit coaches’ contacts with recruits have had the unintended consequence of making the process more difficult for coaches and recruits and opened the door more to agents and others influencing the process.

The effort to regulate fairness in competition is fatally flawed, he said. “It’s impossible to create a level-playing field.”

Bilas also said the NCAA should get out of the business of setting eligibility requirements for student-athletes; instead each school should decide who is right for their institution. The NCAA also should stop setting graduation requirements, he said. “The emphasis on graduation rates is misplaced, it should be on education.”

Bilas, who also graduated from Duke University’s law school and is an attorney in Charlotte, said that it’s time to begin compensating college athletes and forget the quaint notion of amateur athletics. There’s nothing amateur about college athletics, he said, because “everybody gets paid except the athletes.”

He stressed that he wasn’t advocating paying college athletes a salary, but rather allowing them stipends and other benefits, including endorsement deals. “It’s a mental hurdle to get over the purity of college athletics,” he admitted. But allowing extra benefits would remove much of the corruption in athletics, he said.

After his speech, Bilas was joined on the stage by Wake Forest Director of Athletics Ron Wellman; Professor of Law Tim Davis, a leading sports-law scholar; and Ben Sutton (’80, JD ’83), founder of International Sports Properties, for a question-and-answer period.

~ Kerry King

Thursday, October 7, 2010

Historic Donation Announced for Schools of Business

Dear Faculty, Staff and Students,

I am pleased to announce that former Wake Forest parents Mary and Mike Farrell of Summit, N.J., have made a historic $10 million commitment to Wake Forest. Their gift will be used toward construction of a new home for the Schools of Business.

The gift is the largest cash commitment ever by living individuals to the University and the largest commitment ever to the Schools of Business. Construction on the new building will begin in the spring and is scheduled to be completed in the summer of 2013. The building, to be called Farrell Hall, will be located at the intersection of Wake Forest Road and Wingate Road. It will include state-of-the-art technology and a unique “living room” design to foster interaction between faculty, staff and students.

The Farrells have said that they decided to make this gift in appreciation for the outstanding experience that their son, Michael Edward Farrell (¹10), had at Wake Forest. That means that each of you who contribute to the Wake Forest experience in different ways -- as teachers, staff members and fellow students -- helped secure this commitment.

Additional details about the gift and the new building can be found on the Wake Forest website, by clicking here, and an article in the Wall Street Journal.

Nathan O. Hatch

Editorial note: Mike Farrell also played an instrumental role in Wake Forest’s appearance on Wall Street over the summer. To read more, click here.

Wednesday, October 6, 2010

Wake Forest Showcased at Table Top Trade Show

Wake Forest University Business and Enterprise Management students had the chance to showcase their valuable internship experiences to local business leaders, faculty and fellow students during the 2nd Annual Table Top Trade Show on Sept. 22 in the Benson Center.

The show included 102 different displays created by students who completed internships in a wide variety of fields such as: consulting; fashion and retail; finance and banking; government; manufacturing; marketing, public relations and advertising; non-profit; professional sports; sales; service; and telecommunications. Internship locations were diverse as well, encompassing cities throughout the U.S. and international locations of Dublin, Shanghai, and Cape Town.

"We encourage the students to discover an internship that makes their heart sing," said Dr. Holly Brower, director of internship development for the Business and Enterprise Management program. "We hope the Table Top Trade Show helps the interns develop and showcase the ability to tell their achievements and experiences in a succinct and professional way."

Three students took home awards for their Table Top Trade Show presentations.

Janice Szeto ('11) earned the Showstopper Award along with a $500 check. She was an intern in the branding department at Diesel in New York. "I learned a lot about brand management and how much it takes to put on an event, down to the tiny details," Szeto said. Her display included sticky notes of daily "to-do" reminders, samples of Diesel clothing, and a book showing the planning, timing and distribution of the Diesel's branded New York City activity guide.

Alexander Campbell ('11) and Linleigh Hawk ('11) earned the two Spotlight Awards which come with $300 prizes.

Campbell was an intern at 22squared, an advertising agency in Atlanta. He focused on new business development and brand planning. "After spending the summer with 22squared, I figured out that finding the right corporate culture is not only important but an absolute necessity when deciding on a workplace,” he said. “We accomplished an unbelievable amount of work this summer, but because we all were such great friends, the work never felt like a chore. I can honestly say that not once this summer did I wake up and not look forward to going into the office -- it was truly such a blessing.”

Hawk's internship was also in the advertising field. She served as a business development intern at Blue Ocean Ideas, a brand development agency in the greater Baltimore area. Towards the end of her internship was promoted to a lead social media strategist position. “I experienced firsthand what it is like to be passionate about what you do, and what significant value resides in that opportunity,” Hawk said. “I came to appreciate the ability of a company to incorporate and uphold such strong, unique, and honest values into every aspect of its daily operations and interactions.”

Several students had the chance to experience the internal operations of their favorite professional sports teams. Alex O'Connor ('11) went back to his hometown for the summer to complete a sports marketing internship with the Chicago Bears. "It was behind the scenes of training camp and events that the Bears had in August. I helped set up, take down, do customer service and worked to keep corporate sponsors happy," he said. "It really made me appreciate all of the work that goes into every football game. It gives you a different point of view."

Afton Vechery ('11) was able to combine her passions for science and business during an internship at KeraNetics in Winston-Salem. She focused on the commercialization of research and spent time in the lab, learning how to test ideas. "In order to be a successful biotech business, you have to understand the science that is going on and be able to articulate it in business terminology," she said. "You have to have an idea of what is going into your product so you can make decisions from that point.”

The chance to use his finance skills in the music industry attracted Stephen Chuckray ('11) to an internship position at EMI Christian Music Group in Nashville. He worked in the accounting department, dealing with album sales forecasting, distribution of other labels, invoices, and returns. Chuckray also had the chance to explore other areas of the business. “It’s amazing, I got to see the whole process from the talent scouting to how they are developed, to how they are connected to writers, record their music and get music to stores."

The Business Enterprise Management Internships include a minimum of 200 hours over a minimum of five weeks. Students keep a weekly journal highlighting tasks and challenges encountered along the way as well as reflecting on what they are learning and how it is linked to their coursework. They also write an organizational analysis of the host organization and finish with a portfolio that captures their accomplishments and personal growth during the experience.

Tuesday, October 5, 2010

More Speakers Lined Up for ‘Family Name’ Forum

Wake Forest University’s Family Business Center has announced several companies that will join Yuengling executive Wendy Yuengling Baker at the upcoming forum on family owned businesses.

Brad Bennett of Wildfire Ideas will moderate a panel that will include executives from Cheerwine, Neese Country Sausage, TW Garner, Carswell Distributing Co., and The Monaghan Group. Panelists will share the strategies behind their marketing communications.

Baker, a member of the sixth generation of the Yuengling Brewery business, will share with her family's history and what has contributed to the company's success in becoming America’s oldest brewery. Founded in 1829, this family owned company has been in continuous operation for more than 180 years.

Finally, Wake Forest professor Roger Beahm will discuss the pros and cons of using the family name in developing a brand. From the Bush's Best baked beans to the Ford Motor Co. and SC Johnson:  A Family Co., branding the family name comes with it's own unique set of challenges.  Join us as we learn about the distinct differences in the psychology behind utilizing (or not) one's "family-ness" in advertising and marketing.

The event will be held Tuesday, Nov. 2, at the Graylyn Conference Center at 1900 Reynolda Road in Winston-Salem. A meet and greet breakfast will begin at 8 am with presentations running from 8:30 am to 1 pm. Register by Tuesday, Oct. 19, at, "FBC Events." For more information, contact Kristen Solis at

Need a Break? Here’s Your Chance

I have been telling all the first-year MBA students that it is important to find breaks amid the chaos that is the October academic calendar. The Wake Forest Guitar Series is a perfect opportunity to do just that! The series kicks off its second season on Sunday, Oct. 10. Pat Dixon, who teaches guitar at the University, focuses on bringing national talent to campus.

Even if a pesky accounting midterm prevents you from going this weekend, keep an eye out because there will be other chances to go and de-stress. Click here if you want to learn more about the series.

Monday, October 4, 2010

Schools of Business Homecoming Calendar

The Schools of Business is thrilled to be hosting several events Oct. 8-9 in conjunction with the University’s Homecoming activities.

Please join us for the following:

                “Back to the Class Room” with faculty members Rick Harris and Rob Nash

                Friday, Oct. 8, 1:30–3 pm, Worrell 3209

                Hosted by the MBA Class of 2010


                “Homecoming Reception” - All students, faculty, alumni, staff and families are welcome.

                Friday, Oct. 8, 5-6 pm, Kirby Atrium

                Hosted by the Schools of Business Board of Visitors


                Wake Forest University Homecoming Tailgate

                Saturday, Oct. 9, 3:30 pm, Baity Street (behind Deacon Blvd.)

                Hosted by Wake Forest University

                (Look for the Schools of Business section inside the main tent)


                Schools of Business Student Tailgate

                Saturday, Oct. 9, 3:30 pm (NW corner of Student/Green Lot)

                Hosted by SGA 2010-2011

Biotech Case Team Scouting for Members

The Wake Forest team is looking for individuals who are interested in the biotechnology industry and want to be challenged by some of the top minds in the country. The team will consist of five members and an alternate. The only restriction is that there must be one MBA student on the team. The hope is to construct a team from varying disciplines such as MBA, Law, or PhD, that will leverage their knowledge to create a winning presentation.

Wake Forest’s Team for the Biotechnology Case Competition will take submissions until Oct. 15.

What do I need to submit? Email the following to

  • Resume
  • One-page summary statement – no more than 500 words to the following question: What one issue do you think will have the most impact on the biotechnology and pharmaceutical industries in the next five years and why?

What is the Biotechnology Conference and Case Competition?

The 2nd annual Wake Forest MBA Biotechnology Conference and Case Competition will be held Feb. 18-19 on the campus of Wake Forest University. The Wake Forest MBA Biotechnology Conference will bring together some of the brightest and most creative minds. Those involved with the competition will be represented by outstanding MBA and graduate programs in the region, as well as guests and judges from various companies related to the industry.

We are pleased to announce that Targacept is this year's case competition sponsor. Targacept, named one of The Scientist magazine's "Best Places to Work in Industry," is a biopharmaceutical company with a therapeutic focus on central nervous system diseases and disorders. The company has used its research results with neuronal nicotinic receptors (NNRs) to establish strategic alliances with AstraZeneca and GlaxoSmithKline. Competing teams will have the opportunity to offer real world solutions to a current business problem Targacept is facing.

If you have further questions about the event or the team, please email them to

We look forward to your submissions!

~ The Healthcare Club