Teaching & Learning

Global Masters in Finance are hitting Wall Street this week for a close up look at the world of finance. This is the first blog post in a series from the GMF students during their New York and Washington DC immersion weeks.


Four students in the Olin Business School Class of 2020 have been selected for the prestigious Kemper Scholars Program. The James S. Kemper Foundation of Chicago, Illinois has been supporting Kemper Scholars since the program’s inception in 1948.

Tiffany Chiang, Maria de Figuerdo, Angelica Harris, and Charlyn Moss were selected from a group of national finalists as four of the 16 members of this year’s incoming class of Kemper Scholars.

The Kemper Scholars Program mission is to develop the next generation of business leaders, with a special focus on the insurance industry. By identifying high-potential undergraduate students and supporting them with a comprehensive program of scholarships, mentorship and internships, the Kemper Scholars Program helps students develop both practical and professional skills to become the next generation of effective business leaders.

“Kemper Scholars are a select group of undergraduate students from top colleges and universities around the country,” explains Jerry Fuller, Executive Director of the James S. Kemper Foundation. “They are selected because they are committed to their studies, serve their communities, and because they have exhibited leadership and well-rounded, ethical character. Throughout the over six decades of the program, scholars have gone on to make outstanding contributions as leaders in organizations around the world.”

Recent research reports that employers rank real world experience in internships and work while in college as a primary criterion in hiring recent graduates. The Kemper Scholars Program helps students apply their academic education to the world of professional careers, making connections between the classroom and the workplace.

Kemper Scholars receive scholarships during their sophomore, junior, and senior years of college. During the summer following their sophomore year, Scholars live in Chicago, where they intern at Chicago’s top nonprofits and participate in weekly educational seminars. Following junior year, scholars secure paid business internships at for-profit businesses across the country. Every summer, all current Kemper Scholars attend the Kemper Career Institute in Chicago, where they discuss their summer work and experience, meet with former Kemper Scholars, and consider topics in management, leadership and business.

“In our time of rapid change and globalization and the need for complex problem-solving and innovation skills, we at the James S. Kemper Foundation are proud of our role in helping shape the next generation of leaders,” said Joe Lacher, Chairman of the Foundation’s Board of Directors. “Kemper Scholars’ strong academic background and real-world experience will help successfully launch them into the business world.”

 




Jackson Nickerson, Frahm Family Professor of Organization & Strategy, has developed a series of training seminars to help business school faculty develop leadership skills. Developed in conjunction with the AACSB International, Leading in the Academic Enterprise® (LAE) is providing training that many business school deans say is needed for faculty who are asked to take on leadership roles.

Jackson Nickerson

Nickerson who is also a Brookings Non-resident Senior Scholar in Government Studies and Associate Dean and Director of Brookings Executive Education, developed the training series after extensive interviews with business school deans and administrators, and a survey of more than 400 experienced and new deans.

In an article in the current issue of BizEd, Nickerson outlines the areas identified in the survey where faculty require training before taking on leadership roles:

  • ability to lead organizational change
  • ability to think strategically and solve problems creatively
  • ability to develop new leaders and communicate effectively

“These themes appeared whether their schools were public or private; large or small; in Europe, the U.S., or anywhere in the world,” according to Nickerson.

Too often faculty are thrown into the deep end of the pool and expected to swim or sink in the turbulent waters of leadership—an expensive way to develop new leaders. — Survey Response

Leading in the Academic Enterprise® (LAE), the three-part series developed by Nickerson and offered by AACSB International, was launched in the summer of 2014. Nickerson says the need for effective leaders within academia is crucial at this time and attainable.

“Perhaps the most important lesson we learned from our research is that while many academics do not have the skills to lead successfully in challenging environments, this does not mean they cannot develop them. Our interviewees agreed that schools that invest in training, mentoring, and development are likely to see great returns, both for their leaders and the larger academic enterprise.”

Link to article.




Of all the classes you take at business school, you might not expect Intro to Accounting to have a dramatic, life-altering effect on you. But that’s exactly what happened to Louis G. Hutt, Jr. when he was an undergrad at WashU in the mid-1970s. He clearly remembers the moment in his first accounting course when Prof. Bob Virgil mesmerized him with his introduction to the profession. Hutt went on to earn his CPA, law degree, and found The Hutt Company in Baltimore, MD, a tax and financial advisory.

Hutt shared another memory of an influential professor when he was an undergrad at the business school:

“I remember being in a class with Dr.Lyn Pankoff. He taught a class entitled, “Quantitative Business Analysis.” I think it was probably the toughest class in the undergraduate business program – it was statistics and economics and math all jumbled together.”

At the end of the semester, before exams, Hutt could not find his notes from the class.

“I looked everywhere, can’t find the notes. I go to see Dr. Pankoff and I say, “I don’t know why I’m here, but I can’t find my notes. I don’t know what I’m going to do.

Professors Bob Virgil and Lyn Pankoff

Dr. Pankoff looked at me calmly and said, ‘Louis, rely on your conceptual understanding and analysis and re-create your notes.‘  ‘What?’ I asked. He said, ‘Go back through the text and re-create your notes based on your own conceptual understanding of the material.’

“That was the most cherished B-plus I got in business school. It taught me a lesson that I could rely on a conceptual analysis and understanding of information to solve a problem. And I use that same technique, that same principle, in my practice today to solve business problems.”

Here’s the kicker:

“The funny story is that three years later when I proposed to my wife and we were about to be married, we were packing up our respective apartments and she found my original Quantitative Business Analysis notes. I hadn’t lost them!”

Thank you, Lou Hutt, for sharing these wonderful memories!




For Anheuser-Busch InBev, it’s difficult enough to manage the most efficient beer supply chain in the U.S. As they acquire an ever-growing number of craft breweries, the complexity of their distribution increases dramatically. But with extremely accurate production planning and time-tested transportation methods, the largest brewer in the world is able to spread the joy of delicious craft beer to the farthest corners of the earth.

Chris Pickett, Senior Director of Tier 1 Warehousing & Transportation, paid a visit to The Boeing Center to talk about his role in AB InBev’s operations. He shared insights on effectively integrating craft beers into a macro beer supply chain, as well as managing load complexity and shipment quantities across brands.

Product mix complexity is managed by AB InBev using three main strategies. First, they use rigid cycle production to maximize output for each SKU. Second, they plan pallets using optimized order quantity, which helps them to meet wholesaler demand using the fewest number of shipments. Third, they build pallets using proprietary technology in the warehouse environment, ensuring the most beneficial product stacking patterns. All of these techniques allow AB InBev to manage an efficient supply chain, while maintaining an extremely high service level for their craft beer offerings.

For more supply chain digital content and cutting-edge research, check us out on the socials [@theboeingcenter] and our website [olin.wustl.edu/bcsci]

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A Boeing Center digital production

Supply Chain // Operational Excellence // Risk Management

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