Tag: Building Olin



Recording a video to introduce the Olin brand campaign that accompanies our strategic plan. Building scholarship capacity is an important piece of our strategy.

Someone supposedly once complained that Shakespeare’s Hamlet is full of quotations, and indeed, many lines from that great work have become familiar phrases in the English language, from “To be or not to be,” to “Alas, poor Yorick.”

One of my personal favourite lines from the play is, “Lord, we know what we are, but know not what we may be.”

Olin is a place that addresses the promise of that theme for students who may pass through our doors “knowing not what they may be.” With our world-class faculty, our dedicated staff and our alumni, we’re well able to help students know what they will be.

The trick, of course, is helping them pass through our doors in the first place.

That’s where scholarships come into play. WashU’s Olin Business School should be an elite institution, but never elitist. That means we want the best students in our community—regardless of their financial means. Anyone with the ability, talent and potential should be able to benefit from an Olin education.

A WashU education is by no means inexpensive, but this is not a new phenomenon. Even when National Council member Sidney Guller started earning his BSBA in 1943—and the average US income was $2,000 a year—Olin’s $250 annual tuition was a tough nut to crack.

At the time, scholarships were hard to come by. Guller worked at a local title company to make ends meet. That experience drove him to establish the Bobette and Sidney Guller Endowed Scholarship and many other gifts to the school.

Increasing scholarship support was an important component of Olin’s participation in the WashU Leading Together campaign, which closed in June. Building that support is vital to attracting talented and deserving students to our institution

Based on preliminary numbers from Olin’s campaign, I’m pleased to note that Olin supporters have contributed more than $31.8 million toward 94 new endowed scholarships—double the number from 2009, before Leading Together began. Additionally, benefactors have contributed to an additional 266 named scholarships since 2010.

I’m looking forward to meeting one of our newest scholarship recipients. One MBA student this fall will receive a new scholarship that I’ve established, the William Shakespeare Scholarship. Will was a great businessman as well as an artist, so I consider this a terrific nod to the way we think about approaching business problems from a variety of perspectives.

Now, I’ll be expecting our first recipient to join The Dean’s Players at our next “Shakespeare at Olin” event. Who knows what he or she may be?

Pictured above: Dean Taylor recording a video to introduce the Olin brand campaign that accompanies our strategic plan. Building scholarship capacity is an important piece of our strategy.




Welcome to the debut of “The Desk of the Dean,” a monthly feature of the Olin Blog by Dean Mark P. Taylor. This column will appear on the first Wednesday of each month.

A few weeks ago, I met a group of St. Louis-based Olin alumni for cocktails, all of whom now work in the healthcare industry. As one does at a cocktail party, they asked how things were going at Olin: “What are you working on?”

I have an answer to that question, which I follow with a question of my own. Sometimes, I think my question surprises our alumni, but I’ll get to that shortly.

When I’m casually asked about our plans for Olin, I’m aware nobody really wants a PowerPoint presentation or a dense review of Olin’s strategic plan over hors d’oevres and a glass of wine. They want the big picture, the 30,000-foot view: Where are we headed?

As dean of a highly ranked business school, I’m confronted with this scenario fairly often—at the gate awaiting a flight, in the queue at the cinema, even on an elevator. What kind of business school would we be if I weren’t prepared with an elevator pitch for just these moments?

Mine goes something like this: At Olin, we’re enhancing our programme to cultivate business leaders with solid analytical skills, grounded in a strong value system, who can change the world, for good. We’re creating a programme that will prepare innovative, entrepreneurial leaders with a global perspective on business. We’re taking Olin from good to great.

And that’s when the alumni get my question: What can Olin do for you?

We are not bashful about asking our former students for something—particularly their donations or their time. So, when I ask this question of our alumni, I find that they’re frequently surprised. But over the nearly 600 days since I became dean, I’ve also found this question resonates.

They want to know they graduated from an institution that has continued to produce market-ready graduates long after they earned their diplomas. So, I know we’re on the right track when I get a parent’s letter praising Konnie Henning, associate director of academic and student affairs, for how she coached a student through difficult times to see her graduate and enter a thriving career.

Alumni want to know their alma mater produces path-leading research to give them a competitive edge and help them peer around the corner ahead of emerging business trends. So, I’m confident we’re on the right track when our faculty publishes 79 papers in top academic journals in a single year. Their goal 42 percent greater than last year.

I feel the same when global agribusiness company Syngenta invites Ling Dong and Durai Sundaramoorthi to present their groundbreaking, Olin Award-winning research that will help farmers optimize their seed choices based on weather, soil and geographic conditions.

In short, our alumni want to know their diploma is actually worth more than it was when they earned it. I’m fond of saying a WashU education is not a bond to be cashed in. It’s an equity that can grow and pay dividends. A degree from WashU’s Olin Business School should mean something when our alumni ask for that next pay raise or apply for the next promotion.

That’s what we’re working on at Olin.

Pictured above: The reception at Third Degree Glass Factory ahead of the luncheon honoring the 2018 Olin Emerging Leaders in April 2018. Exactly the sort of event where I answer these sorts of questions about the direction of Olin Business School.

“The Desk of the Dean” appears on the first Wednesday of the month.




The Consortium for Graduate Study in Management, founded in 1966 at Washington University’s Olin Business School, has been a national leader in promoting diversity and inclusion in business education and corporate leadership. When the organization launched under the leadership of Olin professor Sterling H. Schoen, it began with just three schools—WashU, Indiana University-Bloomington, and the University of Wisconsin-Madison.

Now, the organization has announced it will add a 20th university to its membership ranks effective July 1, 2018: The University of Washington’s Michael G. Foster School of Business.

The highly ranked Seattle-based university officially joins The Consortium at the start of the organization’s new fiscal year following approval on Dec. 4, 2017, by The Consortium’s board of trustees and the signing of the university’s membership agreement on May 3, 2018. The Consortium works with top-ranked MBA programs around the country to increase the ranks of underrepresented minorities in business education and corporate leadership.

“It’s been clear from the start that Foster would be a strong, enthusiastic and energetic partner in furthering our mission,” said Peter J. Aranda III, The Consortium’s executive director and CEO. “We’re eager to begin working with Dean James Jiambalvo and the rest of his team.”

Dean James Jiambalvo

Dean James Jiambalvo

Since 2005, Jiambalvo has led the Foster School of Business, which has embraced diversity and inclusion as a hallmark of its work, weaving that commitment into its academic programs, the student experience and its community relationships through formal programming, student clubs and activities, scholarships, and internships.

“We’re excited to extend our work in diversity, equity, and inclusion through membership in The Consortium,” said Jiambalvo. “Our membership provides an opportunity to live values fundamental to the Foster School and the University of Washington, namely that commitments to diversity, equity, and inclusion in America’s classrooms and boardrooms make for resilient thinkers who have the power to lead and inspire the world toward better outcomes for all.”

UW is the second university to gain membership in The Consortium in the past year. Rice University officially joined on July 1, 2017, and will participate in its first Orientation Program & Career Forum—an annual conference for new MBA students and Consortium constituents—in June 2018.

Read the full announcement on The Consortium’s website and see the full list of Consortium member schools

 




The Bauer Leadership Fellows Program provides experiential leadership development for team leaders who lead CEL practicum teams. Recently, the BLC fellows had the opportunity to go to Creve Coeur Lake for a leadership development rowing retreat. BLC fellows reflect back on what they took away from the rowing experience.

Place Trust in the Team

BLC fellow Elizabeth Hailand, MBA ’19, described how effectiveness in crew widely paralleled effectiveness in team leadership. Like a team, a crew requires trust in all members to stay afloat. As rowing is a coordinated team activity, if one crew member is out of sync, the entire team is put at a disadvantage. Trust in each other is vital to rowing an effective boat.

Lead by Listening

Trusting the team also means allowing others to naturally take the lead. To keep the boat balanced, rowers with more practice stepped forward. BLC fellow Perri Goldberg, MBA ’18, reflected how the rowing retreat pushed natural leaders to listen, and allowed those with more experience to take the lead. This was a reminder to those in charge not to get caught up in their own status, but focus on the team vision.

Understand How to Motivate Your Team

Success in rowing is also attributed to effectiveness in coaching. As rowing is an exhausting workout, having the right motivation is essential. A fellow shared how the coach would sometimes “cold call” a single member of the boat to row.

While this fellow enjoyed this type of personal coaching, they learned that it did not suit all of their crew members. This helped the fellow appreciate the importance of a leader to understand the team dynamics. A strong leader knows how to motivate and encourage each individual team member, while not compromising the project goal.

Apart from proving its worth as a physically strenuous workout, the Creve Coeur rowing retreat was a great opportunity to reflect first hand on leadership values and implementation. As one fellow shared after the rowing experience, since January, they have grown as leaders from driving meetings to now acting as facilitators of great and healthy content within meetings.




Ben Kosowsky, BSBA ’20, wrote this post on behalf of Bear Studios LLC.

“Life can only be understood backwards; but it must be lived forwards.” — Soren Kierkegaard

Take a moment and think about yourself five years ago—or even just one year ago. Consider the day-to-day issues you were facing and your near-term worries. I would bet that you cannot remember most of your troubles. And even if you can, they are likely not the same as those that bother you today.

Contemplate your attitudes and outlooks and reflect upon how different they are from your current perspective. If you are anything like me, it borders on absurd to think that you were the same person who had those thoughts and took those actions just a short while back.

Now, recognize that much of what you are concerned with and think about today will likely seem petty in five years’ time—or even just one year from now. The appreciation that you always have grown and always will grow is certainly important, yet it is only the first step in orienting your mindset toward personal growth.

Before I continue, let me introduce myself. My name is Ben Kosowsky and I am a sophomore at Olin Business School triple majoring in finance, economics and strategy, and philosophy. I consider myself to be a growth-oriented person. What follows are some of the strategies I use to maximize my personal growth.

Self-Reflection

Self-reflection can and should be different for everyone. For me, the most successful strategies have been documentation, meditation, and rebuke.

I became inspired to keep a journal after an interview with a “brother” in Delta Sigma Pi during my pledging process freshman year. Since then, I have spent at least 15 minutes every night reflecting on my day, focusing on what and how I can improve.

At first, meditating even for five minutes was very hard for me, but I have now reached the point where I can meditate for 30 minutes at a time. This contemplative time has trained me to let go of unproductive thoughts, focusing intensely instead on critical matters.

Finally, the strategy of rebuke, derived from the Jewish concept of Tochacha, involves inviting your closest friends to criticize you and explain how you can improve. This requires a tremendous amount of trust, but hearing your flaws from those closest to you can open your eyes to issues that documentation or mediation won’t bring to light.

Openness

Throughout your life, the vast majority of your thoughts and beliefs have changed, and they will continue to change. To embrace the inevitability of this change, you should actively seek out new ideas by exposing yourself to as many different perspectives as possible.

Everyone has things you can learn from them and taking the time to listen will help you truly understand their vantage point. Realize that you already know any potential things you will say, so you can maximize learning and growth by listening to what others have to say, and then determining what is valuable.

Perspective

While it is critical to be open to new ideas, it is equally as important to not care too much about other’s perceptions of you. Reflect on how much you cared about what the cool kids in middle school thought about you, and how little you care about their perceptions now.

On a more macro level, realize that societal definitions of success are sometimes just as arbitrary as “coolness” was in middle school. Additionally, notice how large of a role randomness plays in life and allow yourself to take some of your accomplishments and failures with a grain of salt.

This should help you realize how important it is to live your life only according to your own value system and not according to anyone else’s.

Challenge

One thing most people try to avoid is the feeling of being uncomfortable. My objective throughout college has been to challenge myself with a set of goals that push me beyond my comfortable limits, while still giving myself a chance at success.

In my first semester at WashU, I challenged myself to join as many on-campus organizations and to take on as much leadership and responsibility as possible. In my second semester at WashU, I challenged myself to think outside the box in terms of my career path and began to pursue opportunities in growth equity, instead of a more traditional path.

Last semester, I challenged myself to eat meals one-on-one with as many people as possible in order to deepen my relationships. My challenges this semester have been to meditate, to work-out, and to read at least one hour of philosophy every day.

None of these tasks were (or are) easy for me, but the key to growth is pushing your limits by setting your mind to overcome what makes you uncomfortable.

Failure

Embracing failure is not about being content with losing or not caring about success; instead, it is realizing that every struggle is an opportunity for learning and growth. Everyone struggles through failures in life. Learning to deal with and bounce back from them is the true test of one’s character.

One way I think about struggle is through the lens of what I call Type 1 versus Type 2 situations. A Type 1 situation is one you enjoy during the moment and will remember as a positive experience. A Type 2 situation is one where you are struggling during the moment and will likely remember it as a negative experience.

If you train yourself to recognize the potential growth opportunities of a Type 2 situations while in the midst of one, you can focus on how you can learn and grow from the struggle instead of dwelling on the struggle itself.

These strategies should be continuous processes that push you and keep you from becoming complacent. If you make a “wrong” decision, don’t dwell on your mistake (the “right” answer always seems obvious in 20/20 hindsight), but focus on how you can learn and grow from it.

If you consistently learn about yourself through self-reflection, open yourself to new ideas, take other people’s perceptions less seriously, push your comfortable limits with challenging goals, and learn to embrace failure, then you are well on your way to achieving personal growth.

Guest blogger: Ben Kosowsky, BSBA ’20, is a triple major in finance, economics and strategy, and philosophy; he is a strategy fellow at Bear Studios LLC.


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