2008-2009 Elon School of Business Annual Report

ELONBUSINESSMARTHA AND SPENCER LOVE SCHOOL OF BUSINESS

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transforming Students–transforming Business

Dear LSB Alumni and Friends:

Welcome to the inaugural issue of Elon Business,

an annual report for alumni and friends of the Martha

and Spencer Love School of Business. We are excited

to update you on the many programs and activities

taking place in the school, and to thank you for your

many contributions that are helping transform students into knowledgeable and responsible

business professionals and leaders.

Deciding what to include in this publication brought back memories of our busy

and productive year. We were reaccredited for five more years by AACSB International

(Association to Advance Collegiate Schools of Business). We hosted CEOs, including Dr. Jim

Goodnight of SAS and John Allison of BB&T. We rang the opening bell, along with President

Leo M. Lambert, at the NYSE in March. Students studied in China, Australia, Poland and

many other countries. And students dug in (sometimes literally) and made a difference in

their local communities. You will read about these activities and many others in the pages that

follow.

The process of deciding what to include also reminded us of the struggles and

challenges faced by so many in the wake of the financial crisis over the past year. Our faculty

used such experiences as teaching moments in their classes. We invited the university and

local community to join us for conversations about the significance of these events. The one

enduring truth we take forward from the past year is that the business world as we knew it is

no more. That knowledge challenges us to rethink how we do business education. We must

prepare our students for success and empower them to make a difference in a complex and

ever-changing global economy, recognizing that the theories and concepts we have been

teaching don’t apply in the same way anymore.

As you read our stories, we invite you to think about how you can join us in

establishing the Martha and Spencer Love School of Business as a leader in transformative

business education, something we feel that we are uniquely positioned to do. We would love

to hear from you, and we invite you to think about how you can make a difference: Become

a mentor, hire a student intern or new graduate, involve our students in action learning

projects in your organization, speak to one of our classes, enlist our services for executive

development in your company, and, of course, we welcome your contributions to the Ever

Elon Campaign to help us grow the endowment of the university. I look forward to hearing

from you, and we would love to have you visit as well!

Mary A. Gowan, Ph.D.

Dean, Martha and Spencer Love School of Business

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ELONBUSINESS

Elon University PresidentLeo M. Lambert

Dean of the Love School of BusinessMary Gowan, Ph.D.

Associate DeanCassandra DiRienzo, Ph.D.

Elon Business is published yearly for alumni and friends by the Martha and Spencer Love School of Business

EditorCallie Young

DesignerCarolyn Nelson

PhotographerGrant Halverson

Copy EditorKristin Simonetti ’05

ContributorEric Townsend

Published September 2009

Send inquiries to:Martha and Spencer Love School of BusinessElon UniversityKoury Business Center2075 Campus BoxElon, N.C. 27244-2020

[email protected]

On the Web:www.elon.edu/e-web/academics/business

Mission:

To provide exceptional learning

experiences that facilitate the

transformation of students into

knowledgeable, responsible business

professionals and leaders who

make a difference in their professions,

their organizations, and the

global economy.

Cover photo: Rachael Graham ’09 at the NYSE

AN ANNUAL REPORT PREPARED FOR ALUMNI AND FRIENDS 1

2 Love School of Business Events 2008-2009

3 Undergraduate Highlights & Accomplishments

4 Doherty Center for Entrepreneurial Leadership

4 Executive Presence

5 Business IntelligenceDr. Jim Goodnight receives the Elon University Medal for Entrepreneurial Leadership

6 Leadership in ActionLove Award recipient Miya Stodghill ‘09 puts her leadership skills to the test

7 Alumni SpotlightAldagen CEO Tom Amick ‘69 on pursuing your career passion

8 The Future of SalesThe Chandler Family Center for Professional Sales empowers students and professionals

9 East Meets West Elon’s partnership with Cisco benefits MBA students

10 Faculty Updates

12 Ever ElonThe Campaign for the Future of Our University

The Elon MBA program was ranked in the top 10 in two categories in The Princeton Review’s 2009 edition of “Best 296 Business Schools.” The annual guide ranked Elon’s MBA #7 in the category of Best Classroom Experience, and named it #6 in its list of Best Administered programs.

The Princeton Review’s rankings are determined by data provided by schools and a survey of 19,000 full- and part-time MBA students. Criteria used for the Classroom Experience category included students’ assessment of professors, incorporation of business trends and practices in the curricula, and the intellectual level of classroom discussions. Availability of classes and how well the school is run were factors in determining the Best Administered ranking.

The Princeton Review noted that Elon’s MBA program “works hard to maximize its MBA experience,” and praised it for solid preparation in interpersonal and presentation skills, and doing business in a global economy.

The Princeton Review rankings follow the 2007 BusinessWeek ranking of Elon’s part-time MBA program at #12 in the nation, #2 in the South, and the top-ranked in North Carolina.

Best Classroom Experience

#1 Indiana University–Bloomington Kelley School of Business

#2 Acton School of Business–The Acton MBA in Entrepreneurship

#3 Millsaps College–Else School of Business

#4 East Tennessee State University–College of Business and Technology

#5 Indiana University–Southeast School of Business

#6 Harvard University–Harvard Business School

#7 Elon University–Martha and Spencer Love School of Business

#8 University of Chicago–Graduate School of Business

#9 University of Virginia–Darden Graduate School of Business Administration

#10 Brigham Young University–Marriott School of Management

Best Administered

#1 Harvard University–Harvard Business School

#2 Vanderbilt University–Owen Graduate School of Management

#3 University of Michigan Ann Arbor–Steven M. Ross School of Business

#4 University of California Berkeley–Haas School of Business

#5 Northwestern University–Kellogg School of Management

#6 Elon University–Martha and Spencer Love School of Business

#7 New York University–Leonard N. Stern School of Business

#8 West Virginia–College of Business and Economics

#9 Acton School of Business–The Acton MBA in Entrepreneurship

#10 Dartmouth College–Tuck School of Business

Elon MBA receives national ranking by The Princeton Review

Table of Contents

2 AN ANNUAL REPORT PREPARED FOR ALUMNI AND FRIENDS

EVENTS 2008-2009 October>>The Third Annual Economic Summit: State of the Economy, sponsored by the Alamance County Chamber of Commerce, featured Dr. Richard Green, director of the Lusk Center for Real Estate at the University of Southern California.

>>Dr. Bob Pavlik, associate professor of finance, moderated Understanding the Financial Crisis, a panel discussion on the market downturn co-sponsored by the William Garrard Reed Finance Center, Elon University members of Phi Beta Kappa, and the student Financial Management Association. Panelists included John Slayton, CEO and president, The Trust Company of the South; Chris Baker, former

CFO, Capitol Bank, and finance executive-in-residence at Elon; Kevin Kelly, former Bear Stearns analyst; and Dr. Steve DeLoach, professor of economics.

November>>The Doherty Center for Entrepreneurial Leadership hosted the inaugural North Carolina University Entrepreneurship Summit, which Elon co-sponsored with Wake Forest University’s Angell Center for Entrepreneurship. This inaugural event brought together more than 100 leaders in education, research and entrepreneurial enterprises from across the state.

February>>Stew Leonard, Jr., president and CEO of Connecticut-based food retailer Stew Leonard’s and an Elon parent, spoke to students about keeping an entrepreneurial mindset when running a business. The event was co-sponsored by the Doherty Center for Entrepreneurial Leadership and Elon Career Services.

March>>Global Supply Chain Issues, a presentation by Dr. James A. Tompkins, CEO of Tompkins Associates and an Elon parent, addressed the changing nature of globalization as it relates to supply chains and logistics.

>>Dr. Ed Moore, of Duke Divinity School, moderated a panel on Morality and Business in the Current Economy, co-sponsored by the Love School of Business, the Truitt Center for Religious and Spiritual Life, and Elon University members of Phi Beta Kappa. Panelists included Dr. Betsy Stevens, associate professor of business communications; Dr. Christy Benson,

assistant professor of business law; Dr. Scott Gaylord, associate professor of law; Dr. Jeffrey Pugh, professor of religious studies; and Dr. Anthony Weston, professor of philosophy.

>>The LSB and Business North Carolina magazine co-sponsored the Business North Carolina Roundtable, a discussion on the Piedmont Triad economy. Panelists included Elon President Leo M. Lambert; David Barksdale, executive vice president and chief banking officer for NewBridge Bancorp in Greensboro; Michael Freeman, vice president for strategic planning for Wake Forest University Baptist Medical Center in Winston-Salem; Henry Isaacson, chair of the Piedmont Triad Airport Authority and a member of Isaacson Isaacson Sheridan & Fountain, LLP law firm in Greensboro; Jim Powell, founder of Burlington-based LabCorp; and Keith Vaughan, chairman of the Piedmont Triad Partnership board and a managing member of Womble Carlyle Sandridge & Rice, PLLC law firm in Winston-Salem.

The Love School of Business received extension of maintenance of accreditation by AACSB International–The Association to Advance Collegiate Schools of

Business. Less than 5 percent of the world’s business schools have earned AACSB accreditation. In notifying the Love School of Business of its decision to continue

the school’s accreditation, the AACSB board of directors commended the school on increasing the faculty qualifications and engagement of faculty in scholarship, making effective use of the board of advisors, and the participation in and support of the faculty in the assessment process and Elon’s engaged learning model. The board also noted the Business Fellows program and the Ethical Decision Strategies Inventory used by the MBA program as particular strengths.

The Love School of Business formally adopted the Principles of Responsible Management Education (PRME), joining 219 institutions worldwide in the initiative to encourage social responsibility in the creation of a sustainable global economy.

The Love School

of Business

hosted several

notable

programs during

the academic

year:

>>

>>

Business North Carolina Roundtable

Morality and Business Panel

L O V E S C H O O L O F B U S I N E S S


>>Elon’s chapter of Alpha Kappa Psi business fraternity received the Circle of Excellence Award for increasing the number of initiates over the previous year, the Award of Achievement for outstanding improvement in fraternity performance evaluation, and the First Place Fraternity Standing designation for scoring 100,000 points on the annual chapter report at the annual Professional Business Leaders Institute in Atlanta.

>>The seventh Annual Meet and Greet sponsored by Beta Alpha Psi in September brought more than 100 accounting and finance students together with representatives from more than two dozen accounting and finance firms for networking and recruiting.

>>The junior and senior Business Fellows traveled to New York City in September and visited the NYSE, Bloomberg, Chelsea Piers, Credit Suisse, Young & Rubicam and the Metropolitan Museum Membership Office, and participated in an alumni event sponsored by Thomson Reuters. The Fellows spring semester service project involved landscaping the grounds of the United Way of Alamance County.

>>Erika Lamanna ’09 and Garrett Pittenger ’09 represented Elon in the Eller Ethics Case Competition at the University of Arizona in

November. Presenting on the hypothetical scenario of re-opening a dormant mine, Lamanna and Pittenger advanced to the semifinals and were praised by organizers for their innovative approach to the case. It was Elon’s first appearance in the prestigious invitation-only contest.

>>The freshman Business Fellows traveled to Mexico during Winter Term to study business practices in a developing economy and expand their social and cultural horizons.

>>Kyle McGrath, Jessica Connelly, Will Taylor, Amelia Henderson, and Rachael Graham, all class of ’09, joined President Leo M. Lambert, Dean Mary Gowan and several friends and alumni in ringing the opening bell for the New York Stock Exchange in March. The group also toured the trading floor. Elon parent Peter Murphy, president of Bear Wagner, sponsored the event.

>>Danny Bell, Paul Benedict and Todd Cash placed second in the Best Practices competition at the regional Beta Alpha Psi meeting in Nashville in March. The team won $250 for their entry in the category of “Developing Life Skills: Helping Others Succeed.” The entry, the first for Elon, described the personal finance seminar they delivered to 50 Elon students in February.

Highlights & Accomplishments

Three Elon teams placed in the inaugural Elon Innovation Challenge in November. The contest was sponsored by the Doherty Center and held in conjunction with the Stanford Global Innovation Tournament (GIT). The Stanford GIT is a fast-paced competition that challenges student teams to solve a common global problem in just eight days, then convey their result in a short video posted to YouTube. Last year’s challenge was to use discarded water bottles to create an object or solution with as much value as possible. Colleges conduct the tournament locally, and submit their winning entries to Stanford for global judging. Winners are featured on the Global Entrepreneurship Week web site and receive a certificate of recognition from Stanford.

The team of Alan Duvall, Brent Gilmore, Katie Pietrowski, and Mike Depace devised the Waterbottle Power Car, which won Audience Favorite in the Elon Challenge and the Most Auto’dacious Award from Stanford judges.

Now in its 10th year of publication, Issues in Political Economy (IPE), the undergraduate journal co-published by Elon University, continues to support undergraduate research in the study of economics and gain prestige as one of the few journals of its kind.

Issues in Political Economy encourages undergraduate scholarship and prepares students for the challenges of graduate studies. IPE is refereed and edited by undergraduate students at Elon and the University of Mary Washington in Fredericksburg, Va. Elon students Andrea Dorrow, ’10, Chris Farnsworth, ’09 and Meredith Mosko, ’09, were editors of the 2009 volume. Elon economics professors Steve DeLoach and Tina Das are the journal’s faculty co-advisors.

U N D E R G R A D U A T E

Morality and Business Panel

NYSE Opening Bell


“BB&T Philosophy” and his advice for achieving success in work and in life. “Even if you don’t see yourself as a leader, you have to lead yourself,” Allison told the audience. Copies of the BB&T Philosophy were made available to audience members. Allison, a North Carolina native, began his career with BB&T and retired as chair in December 2008. Under his leadership BB&T expanded to 1,400 branches in 12 states.

>>In September, John Zeglis, former chair and CEO of AT&T Wireless and principal owner of the Fort Wayne Mad Ants, an NBA development league team, was featured as this year’s Legends of Business speaker. In his speech, titled “Lessons in Leadership from 30 Years in the Eye of the Telecom Hurricane,” Zeglis told students about his greatest challenges while transforming AT&T W i r e l e s s a n d offered his tips f o r s u c c e s s f u l leadership.

Dur ing h is p r e s e n t a t i o n Zeglis said, “I t ’s daunting to speak about leadership. Leadership is hard to teach, and for students, even harder to learn. The best thing you can do is to listen to others’ experiences and wisdom.”

The Legends of Business series brings retired CEOs to Elon. Former Legends of Business speakers include Robert A. Ingram, vice chairman of GlaxoSmithKline, Jerry D. Neal, co-founder of RF Microdevices, and Thomas S. Monaghan, founder of Domino’s Pizza. The series gives students the chance to interact with prominent business leaders, and is funded through a gift from longtime Elon friend and supporter Cruse Lewis.

>>In April, the Love School of Business and Elon University honored W. Eric Hinshaw, CEO of Mebane, N.C.-based Kingsdown, Inc., with the Frank S. Holt, Jr. Business Leadership Award. The Holt Award is given annually to a business leader who exemplifies leadership through his or her contributions to the community.

Kingsdown is one of the leading mattress manufacturers worldwide, with headquarters in Mebane and nine international facilities. Hinshaw is responsible for the company’s Sleep to Live

brand, which promotes the relationship between sleep science and better health.

Hinshaw, an Alamance County native, is a past advisory board member for the Fuqua School of Business at Duke, and is a member of the National Board for Duke Children’s Hospital. In 2004 he led Kingsdown in a fundraising effort for Children’s Miracle Network, raising more than $1 million for the network.

The Holt Award honors the memory of Frank S. Holt, Jr., a business leader remembered for his visionary leadership and his civic contributions to Alamance County. Mr. Holt directed the Alamance County United Way

campaign, and served on the boards of the Cherokee Council of Boy Scouts, the Hospice in Alamance County, and the Salvation Army Boys and Girls Club. Mr. Holt was also a charter member of the Love School of Business Board of Advisors.

>>John A. Allison, chair and CEO of BB&T, was featured as this year’s Business Ethics Speaker in November. Addressing a packed audience of students, faculty, and community members in the LaRose Digital Theatre, Allison shared the principles of the

The vision of the Doherty Center for Entrepreneurial Leadership, under the direction of Executive Director Gary Palin, is to cultivate entrepreneurial thinking and leadership among Elon students, positioning alumni for success in the pursuit of exceptional economic and social progress on a global scale. The center is housed within Elon’s Martha and Spencer Love School of Business.

The Doherty Center was established by a generous endowment gift from Ed and Joan Doherty, entrepreneurs from Saddle River, N.J. Their company, Doherty Enterprises, Inc., is one of the nation’s leading franchise operators of quality family restaurants, including Applebee’s Neighborhood Grill & Bar, Panera Bread and Chevy’s Fresh Mex. They are parents of Kerry Doherty ’07 and have served on the university’s Parents Council. Ed is an Elon University Trustee.

The Doherty Center For Entrepreneurial Leadership

Executive Presence: Love School of Business hosted notable CEOs

John A. Allison

Eric Hinshaw and President Leo M. Lambert

John Zeglis


As CEO of Cary, N.C.-based software developer SAS, Dr. Jim Goodnight has earned global renown for his visionary leadership, entrepreneurial focus and commitment to building a quality

workplace for his employees. He exemplifies Elon’s values of integrity, passion for lifelong learning and commitment to building a dynamic community. Elon University honored Dr. Goodnight and his significant accomplishments with the inaugural Elon University Medal for Entrepreneurial Leadership in April. The award will be given annually by the Doherty Center for Entrepreneurial Leadership.

Elon President Leo M. Lambert presented the medal to Goodnight in front of a full crowd of students, faculty and other guests.

“[Dr. Goodnight] nurtured an idea from a spark to a reality. His leadership has resulted in the recognition of SAS as one of the world’s most respected companies. He’s a legend,” said Lambert.

Dr. Goodnight, who holds a Ph.D. in statistics, created the original SAS software with colleagues from North Carolina State University to analyze agricultural research data. Since co-founding SAS in 1976, he has served as the company’s chief executive officer. Today, the company is the world’s leader in business analytics software, with more than 11,000 employees in 54 countries. The company marked its 33rd consecutive year of growth in 2008, with revenues of $2.26 billion. In 2004, Harvard Business School named Dr. Goodnight to their list of the “20th Century’s Great American Business Leaders,” recognizing his impact on “the way people have lived, worked, and interacted in the 20th century.” He speaks internationally on leadership, education and innovation.

Dr. Goodnight shared with the Elon audience the conditions that have led to that success.“I’ve never been a really hands on, top down manager. I don’t really believe in it,” Goodnight said. “What I like to do is find really good people, give them the ball and let them run with it.”

His vision for creative freedom is fostered on SAS’s Cary campus, which boasts several landscaped acres, energy-efficient buildings and contemporary sculpture in offices and on the grounds. Fortune named SAS No. 20 to its 2009 “100 Best Companies to Work For” list.

“Everything that we create comes out of the minds of the developers. It’s a situation where you want to figure out, what’s the best environment for these kinds of creative people?” Goodnight said. “One of the best things to do is have an environment that’s extremely enjoyable for people to be in.”

For business students, especially those interested in entrepreneurial development, the chance to hear Dr. Goodnight talk about fostering innovation in the workplace was an invaluable experience. Alex Trevisan, a senior business administration major and a 2008-2009 Doherty Scholar, was impressed by Goodnight’s presentation. “It was great to see that such a widely respected leader in the world of business was willing to contribute his time to speak with college students and staff,” said Trevisan. “The chance to hear and learn from Dr. Goodnight makes me feel very proud of all the work that the Love School of Business is doing to turn its students into dynamic business leaders.”

“What I like to do

is find really good

people, give them

the ball and let

them run with it.”

— Dr. Jim Goodnight

Dr. Jim Goodnight and President Leo M. Lambert

Business IntelligenceThe Doherty Center honors one of this century’s greatest entrepreneurial leaders


What does traveling to India and volunteering at a girls’ orphanage have to do with pursuing a career in business? For Miya Stodghill ’09,

it was an opportunity to broaden her global perspective and put her leadership skills to the test. The 2008-2009 recipient of the Love Award for Excellence in Business Leadership witnessed firsthand the social inequalities facing the girls in the orphanage. Completing this service-learning project has fueled Miya’s desire to find ways to give children a chance at education.

Stodghill, of Decatur, Ga., is the second recipient of the Love Award for Excellence in Business Leadership, given to business students who demonstrate promise for further development in intellect and leadership. The award provides resources for recipients to participate in a project involving

service-learning, an internship, study abroad, leadership development, undergraduate research or a combination of these.

Stodghill traveled to India in January 2009 with the nonprofit Institute for Field Research Expeditions (IFRE). She spent three weeks at Arya Kanya Sadan, a girls’ orphanage outside New Delhi, teaching and helping the girls with projects around the orphanage, as well as doing field research.

Her service-learning project and field research at the orphanage resulted in a paper, “Women’s Education and its Effects on Developing Nations: A Collaboration of Research and International Service,” which focuses on the factors driving inequalities and obstacles to educating women and girls in developing countries. She presented her work at Elon’s Spring Undergraduate Research Forum in April.

“Her depictions of life at the orphanage in India and of her daily activities were very vivid and engaging,” said Dr. Susan Manring, faculty chair of the award committee. “She explored important questions about the significance of an orphanage for girls in a culture where girls are not highly valued.”

Larry Vellani, director of corporate and foundation relations, works closely with the Love Award’s donors and also had praise for Stodghill. “Miya has set a very high bar for future recipients of the award,” he said.

Beyond her Love Award work, Stodghill served as an Elon Student Ambassador and executive vice president of the Alpha Kappa Psi professional business fraternity. She also traveled to Ghana to work with the Impact Movement, a ministry whose stated mission is “producing leaders of African descent who are spiritually focused, financially responsible and morally fit.”

In August, Stodghill began her postgraduate career with Teach for America, a national education corps, teaching kindergarten in the Charlotte area. After completing her Teach for America commitment, Stodghill hopes to establish and manage daycare centers. She credits the Love Award for making it possible to conduct her service-learning project in India, and for broadening her global perspective and helping her start on a career path.

“We believe these awards will inspire some of Elon’s best business students to further develop their leadership skills,” said Charles Love, president of the Love Foundation, which endowed the award. Love is the son of Martha and Spencer Love, for whom the business school is named. “Students who receive these awards will have excelled not only as students, but outside the classroom as citizens who are committed to improving their communities.”

Leadership in ActionA Love Award scholar’s experience in service-learning

“I fell in love with

the opportunity to

change the life path

of my students.”

— Miya Stodghill ’09

Stodghill and friends at Arya Kanya Sadan


Tom Amick graduated from Elon College in 1969, never imagining his journey would one day bring him back full circle. Besides achieving

success as a biotech executive, Amick is a member of the Love School of Business Advisory Board, chair of the board of advisors for the Doherty Center for Entrepreneurial Leadership, and now an Elon parent.

After graduation, Amick worked for Proctor & Gamble in sales but soon realized that his real career interest was pharmaceuticals. Following his passion, he joined the world’s largest healthcare company, Johnson & Johnson. When in the late 1980s the company ventured into the biotechnology business, Amick got in on the ground floor and moved quickly through the ranks. He became president of Janssen Ortho Canada with responsibility for all of Johnson & Johnson’s pharmaceutical and biotech business for Canada. Amick then moved to Europe as president of Ortho Biotech Europe, where he was charged with building the biotech business in western Europe.

With offices in England, Germany, France, Italy, and Spain, Amick and his family experienced many different cultures. At the end of his European assignment, he moved back to the U.S. and joined Johnson & Johnson Development Corporation, the venture capital arm of the company, where he worked closely with many of the leading venture capitalists in the U.S.

Retirement in 2004 to his beach house in Emerald Isle, N.C., was shortlived. A month into retirement he was asked to join the board of directors of several biotech companies, and he began to serve in advisory roles for Quaker Bioventures in Philadelphia and Intersouth Partners in Durham, N.C., both venture capital firms. He now serves as chairman and CEO of Durham, N.C.-based Aldagen Inc., a portfolio company of Intersouth that focuses on regenerative medicine. Amick is also chairman of the board of directors of Discovery Labs in Philadelphia, and recently became the company’s acting CEO.

In an interview, Tom shared insights on his career in biotechnology and encourages Elon students to “have a passion for what they study.”

Q: You moved to a start-up environment after years as a corporate executive at a Fortune 100 firm. What has that

experience been like for you?

A: Johnson & Johnson is unique in that it is very decentralized, so you have the opportunity to employ an entrepreneurial spirit in running your businesses.

I built the oncology business at Ortho Biotech, began and built the biotech business in Europe, and turned the Canadian operation from being flat to having one of the strongest year-on-year growth rates in the industry in Canada. The biggest difference between my experience at Johnson & Johnson and starting new biotech companies is the limited resources available to you. Therefore, your responsibilities are broader than those at a large company where you have unlimited resources, but it’s also more exciting.

Q: What are the greatest opportunities and challenges you face as a biotech entrepreneur?

A: The challenges are recruiting quality people for both your scientific and overall management team as well as raising enough capital to support your

research and development. The opportunities are being involved in cutting-edge science and technology from all stages of development. From a healthcare perspective, these technologies have the potential to transform medicine as it’s performed today. That’s where being an entrepreneur in this field is fun and exciting.

Q: What advice would you offer to students pursuing an undergraduate degree in business and/or an MBA degree?

A: I think it’s important that students have a passion for what they decide to study. I would recommend that they work very closely with the faculty and

administration of the LSB and the Doherty Center to ensure that they have exposure to entrepreneurs and their businesses, internships at successful businesses, and international experience. All of these avenues are available to students at Elon, but students have to take advantage of them. It’s really important for students to know and understand that they will face adversity and roadblocks in school, personal life and careers. It’s the passion and willingness to keep working through the tough times that will make them successful.

Q: Your daughter is an incoming freshman. How do you think her experience at Elon will differ from yours?

A: Let me start out out by saying how thrilled I am that Christine (Conti) has chosen Elon. It makes me very proud. Elon has changed significantly since

I went there and it was named Elon College. Through Leo Lambert’s leadership it has grown into a university that is on par with some of the best private universities in the country. Elon truly cares about its students and offers the support needed for them to be successful. I have no doubt that Christine will take advantage of all of the opportunities that Elon has to offer, and that Elon will become a part of her life forever.

Tom Amick ‘69 and daughter Christine, class of 2013

Alumni Spotlight:

Tom Amick CEO, Aldagen


Thanks to a generous gift from longtime Elon supporters Thomas and Lynne Chandler, the new center at the Love School of Business that bears their name will make sales education possible

for students and area firms. The Chandler Family Professional Sales Center, established through an endowment from the Chandler Family, is scheduled to open in fall 2009.

The center’s purpose is to promote professional selling and sales management, provide instruction to students and sales executives, and conduct research that advances the field of sales. When asked about the importance of the new center for the LSB, Dean Mary Gowan commented that “The Chandler Family Center allows Elon to join a select group of about 40 universities nationwide that have centers for professional sales. We are very grateful to the Chandler family for making the center a reality and are appreciative of Dr. Earl Honeycutt’s leadership in this initiative.”

Thomas Chandler is owner of Chandler Concrete, a Burlington-based company that operates in N.C., Virginia, and Tennessee. A member of Elon’s Board of Trustees since 1999, Chandler is also a member of the Board’s executive committee, and serves as chair of the development committee and vice chair of the campaign leadership committee. The center is named for the Chandler family, which includes daughter Louise Cox and sons Thomas

Jr. (Ted) and Bob, who is vice president of sales and marketing for Chandler Concrete and also sits on the Sales Center advisory board.

“More and more, people need good sales training today, and we feel that the sales center will give Elon business students that experience,” says Thomas Chandler of his commitment to the Sales Center. Dr. Earl Honeycutt, director of the center, agrees. “Approximately half or more of our students begin their careers in some form of sales,” he notes. Coursework will focus on preparing students to begin their professional careers with a competitive edge by studying topics such as negotiation and customer relationship management. Workshops led by sales professionals, internships, and opportunities to attend national sales conferences and participate in Pi Sigma Epsilon, the national sales fraternity, will complement the coursework.

The Chandler Family Center isn’t just for Elon students. Professional development for sales executives will be another key component. The Center will be a local clearinghouse for periodicals, reference books, and research assistance, and will also sponsor training seminars for local firms led by high-profile sales experts. Dr. Honeycutt also is developing a short course on professional selling for regional companies. An additional goal for the Center is to increase the level of interaction between LSB students and companies in the area, whether through more internships or by bringing MBA or undergraduate student teams to local firms to work on projects.

“The responsibilities and role of a sales person have changed over the years and will continue to change. I think it is very important for business graduates to have a foundation or at least an introduction to the role of a sales person in today’s business environment,” says Bob Chandler. “Our family is passionate about the Sales Center and the opportunity it has to help prepare people for a future in sales.”

The Future of SalesA new center in the Love School of Business empowers students and professionals in the field

“People need good sales

training today… The

Sales Center will give

Elon business students

that experience.”

— Thomas Chandler

Thomas and Lynne Chandler


Imagine sitting in a room in Beijing and having a conference in the “same room” with colleagues in San Jose, Calif., and Shanghai. MBA students participating

in the January 2009 study abroad experience were able to do just that during their visit to Cisco’s Customer Briefing Center in Beijing. Students traveled to China with Dr. Kevin O’Mara, professor of management, Dean Mary Gowan and Judy Dulberg, Elon MBA program coordinator. In addition to Cisco, the group visited Thomson Reuters, Volvo Truck Group and Li Ning Company Limited in Beijing, and in Shanghai visited Baosteel, RFMD and the Port of Shanghai.

The Cisco visit provided students a unique opportunity to use the company’s new virtual meeting technology, TelePresence. Following a tour of the Cisco offices, students participated in a discussion with company principals about ways of doing business in the China market, then joined a virtual meeting with Cisco managers based in Beijing, Shanghai and San Jose to continue the conversation. TelePresence is a collaborative technology that integrates advanced audio, high-definition video and interactive elements to deliver a real-time meeting experience. The Cisco employees in Shanghai and San Jose sat in a room identical to the Beijing meeting space and appeared life-size, enhancing the perception that all were participating in the same meeting.

The exposure to TelePresence gave students a preview of how new platforms may change the way firms will conduct business, especially when employees are located in different parts of the world. Dr. O’Mara noted the technology opens up many possibilities for better collaboration on projects.

“Brief updating meetings could not be held without this technology. The cost and time involved in travel make such meetings impractical. And, while some of the information could be conveyed by e-mail, the information exchange would have been much less rich,” he said. “This aspect really resonated with me since project coordination typically needs a lot of brief, quick interactions that clarify next steps, address unplanned minor hurdles and keep the momentum going.”

Students also found the demonstration enlightening. “What impressed me about the TelePresence technology was how seamless it was,” said Trent Williams, a new product integration engineer at Gilbarco in Greensboro, N.C. “With companies like mine doing business globally, I can see how this technology would prove essential. It really was like being in the same room with someone hundreds, if not thousands, of miles away.”

The visit to Cisco’s Beijing headquarters was facilitated by Paul Sutherland, Cisco account manager for the North Carolina public sector. “Elon University sets the bar for private higher education customers in North Carolina,” Sutherland said. “Hosting Dr. O’Mara’s MBA group was a simple gesture and something that, as a strategic business partner, we are happy to do.”

East meets WestElon’s partnership with Cisco benefits the MBA program

“With companies like

mine doing business

globally, I can see how

Cisco’s TelePresence

would prove essential.”

— Trent Williams, Gilbarco engineer and MBA student

Yuyuan Garden, Shanghai

Cisco Customer Briefing Center, Beijing


New FacultyAccounting

>>Dr. Anthony A m o r u s o , A s s i s t a n t P r o f e s s o r o f Accounting . Dr. Amoruso earned his Ph.D. in accounting from the University of Georgia . Dr.

Amoruso has been a senior manager with an international accounting firm focusing on auditing and professional standards, served as a technical manager with the International Auditing and Assurance Standards Board, and a faculty member at Appalachian State University. His research focuses on financial accounting, auditing, ethics, and accounting and the public interest, and has been published in a variety of accounting journals.

>>Dr. Catherine Chiang, Assistant P r o f e s s o r o f Accounting. Dr. Ch iang ear ned h e r P h . D . i n accounting from Baruch College-City University of

New York. Prior to pursuing her graduate degree, she worked as an auditor. She has been on the faculty at North Carolina Central University. Her research interests focus on capital markets, especially in the areas of accounting for intangible assets and financial reporting quality. She has published articles in the Journal of Accounting and Public Policy and Review of Quantitative Finance and Accounting, among others.

>>Dr. Karen Nunez, Assistant Professor of Accounting. Dr. Nunez earned her Ph.D. in accounting at the University of Oklahoma. Her work experience includes various financial planning and analysis positions at The Pillsbury Company and The Pepsi-

Cola Company. She joined Elon from the faculty at North Carolina State University. Dr. Nunez has received multiple grants and awards in the past eight years. Her

research interests are in the areas of financial reporting, financial statement analysis, and managerial accounting, and her work has been published in numerous accounting journals.

Economics

> > D r . M a r k Kurt, Assistant P r o f e s s o r o f Economics. Dr. Kurt completed his Ph.D. at the University of Iowa where he worked a s a r e s e a r c h

assistant on the Iowa Electronic Markets. His research interests focus on labor economics, macroeconomics and health economics. Prior to entering graduate school, Dr. Kurt was employed at Lockheed Martin.

Entrepreneurship

>>Gar y Palin, E x e c u t i v e Director of the Doherty Center for Entrepreneurial Leadership and Senior Lecturer in Entrepreneurship. Palin joined Elon

University from North Carolina State University where he had served since 1992 as executive director of the Entrepreneurship Education Initiative and as lecturer. A graduate of the MBA program at Bryant University, Palin has extensive experience as an entrepreneur having founded several successful business ventures. Palin’s

areas of expertise include new venture development, social entrepreneurship, intrapreneurship and venture growth. He is a frequent keynote speaker at international entrepreneurship programs and is the creator of the Entrepreneurship and Education Network, a social and information networking site.

Faculty Awards> > D r . E a r l Honeycutt was named the 2008-2009 Distinguished Scholar for Elon Uni-versity. He gave a presentation on the value of academic research and schol-

arship in April as part of the Distinguished Scholar program.

>>Management professor Dr. Matt Valle received the Dr. Gerald L. Francis Award for Excellence in Teaching. The Elon SGA presented the award to Dr. Valle at a banquet in March.

The award was recently renamed in honor of Dr. Francis, who before taking on the role of executive vice president of the university served as vice president for academic affairs and provost for 15 years.

>> D e a n M a r y G o w a n w a s honored by the Triad Business Journal as one of the Triad’s 2 0 0 9 W o m e n in Business at a luncheon on May 1. The paper praised

Gowan’s efforts to enhance volunteer opportunities for students, expand internship opportunities, and bring national business leaders to Elon.

Faculty UpdatesThe Love School of Business welcomed several new faculty for the 2008-2009 academic year, and recognized other faculty and staff for their teaching, scholarship and service.

Elingburg Gift Endows ProfessorshipDr. Art Cassill was named the first Wesley R. Elingburg Professor in October 2008. He joined the Martha and Spencer Love School of Business in July 2002 as chair and professor in the Department of Accounting. Cassill has worked with undergraduates on research projects, developed and led Winter Term study abroad trips, mentored junior faculty, collaborated on research projects with colleagues, and led executive education programs. Among his most significant contributions to the LSB and Elon is the greater visibility he has brought to the accounting program in the local and national accounting communities.

Wesley R. Elingburg and his wife Cathy are longtime supporters of Elon University and the Love School of Business. Their recent gift of the Wesley R. Elingburg Professorship provides an important resource to assist Elon with attracting and retaining excellent faculty for the Love School of Business.

Wes Elingburg is a 1978 graduate of Western Carolina University. In 2005, after a 25-year career

with LabCorp, Wes retired from the position of chief financial officer, a position he had held since 1996. He serves as chair of the board of Hospice of Alamance and

Caswell counties, and is a managing partner of the Greensboro Grasshoppers minor league baseball team. Cathy Elingburg graduated from UNC–Chapel Hill in 1975 with a bachelor’s degree in English. Their son Nolan is a member of the Elon class of 2011.

Elingburg’s contributions to Elon and the LSB go back many years. He served on the LSB Board of Advisors for five years before joining the Elon University Board of Trustees in 2005. While at LabCorp, Wes helped establish a summer internship program for LSB students. He also was involved in the early planning of Elon’s executive education program, which has provided leadership development for many LabCorp executives. Wes is co-chair of the Elon University Strategic Planning Committee. The Elingburg’s gift is a part of the Ever Elon Campaign.


Love School of Business Awards

Several faculty and staff were honored during the annual LSB awards ceremony in April.

Dr. Buck McGregor, associate professor of accounting, received the Dean’s Award for Excellence in Teaching.

Dr. Steve DeLoach, professor of economics, received the Dean’s Award for Excellence in Scholarship

Dr. Susan Manring, associate professor of management, was given the Dean’s Award for Exemplary Service–Faculty.

Rob Springer, Elon University Director of Institutional Research, was recognized with the Dean’s Award for External Exemplary Service.

Brenda Crutchfield, assistant in the Love School of Business, was honored with the Dean’s Award for Exemplary Service–Staff.

Faculty Members Publish Textbooks with Pearson Prentice Hall

Dr. Earl Honeycutt co-authored a new textbook, “Sales Management: Shaping Future Sales Leaders.” The textbook focuses on designing and leading a sales organization based on the strategic approach of the firm. Honeycutt is a professor of marketing and director of the Chandler Family Center for Professional Sales.

Dr. Mary Gowan co-authored a new textbook, “Human Resource Management: Managing Employees for Competitive Advantage.” The textbook uses a strategic framework focused on managing employees within the context of organizational demands and environmental influences. In addition to her duties as dean, Gowan teaches courses in human resources management.

Susan Manring Rob Springer

Buck McGregor Steve DeLoach

Art Cassill

Cathy and Wesley R. Elingburg

Brenda Crutchfield


LSB 2009

Class Notes Policy Class notes must come firsthand from the graduates who have news, a birth or marriage to report. Please send in your news as soon as you have something to share. We welcome news that is no more than a year old.

Photo acceptance policy Photos will be accepted in these formats: slide, print or digital. You may e-mail your Class Notes photos to [email protected] or mail them to the address at the bottom of this form. We reserve the right to deter-mine the quality of your images. Poor quality images will NOT be used.

TURN Youself in online at www.elon.edu/classnotes

CLASS NOTE: Please fill out completely. Birth Marriage News/Promotion Address change Name Class of first middle last maiden Spouse’s name Alumnus? No Yes: Class of first middle last maiden Address street city state ZIP

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Birth: son daughter Child’s name Birth date

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Help us keep you in touch with your classmates and Elon. If you have moved, send us your current address and telephone number.Return this form with your news or story idea to the following address: Elon Office of University Relations/2030 Campus Box/Elon, North Carolina 27244-2020 Fax: 336-524-0100 Phone: 336-278-7415 E-mail: [email protected]

n Bill and Frances Creekmuir P’09’10, have established The Creekmuir Family Scholarship for Business Fellows. Bill and Frances are members of the Elon Parents Council, and Bill also serves on the LSB Board of Advisors.

n David Stevens ’81, a member of the LSB Board of Advisors, has established an endowment to support student internships.

n Samuel Burke ’89, a member of the LSB Board of Advisors, has established an endowed fund to support engaged learning opportunities for accounting majors.

n Harry and Carol Rose P’96, parents of Jason Rose ’96, have endowed a fund to underwrite internships for business students.

n Ashton Newhall ’98, a member of the Elon University Board of Trustees and former member of the LSB Board of Advisors, has created an endowed lecture series in entrepreneurship.

n Donald S. Galante P’08, father of Greg ’08, and a member of the LSB Board of Advisors, has endowed a fund for business student internships.

n An anonymous 2005 graduate has established an endowment to support engaged learning in the economics program.

Each of these endowments supports the mission and goals of the Love School of Business, and helps secure the future of Elon University.

Ever Elon: The Campaign for the Future of Our University is designed to secure Elon University’s excellence by building its endowment. By engaging alumni, parents, faculty and staff, and friends, and by attracting new donors, the university seeks to raise $70 million in new endowment and a total of $100 million for all purposes by the year 2011. The Ever Elon Campaign will provide funds for student scholarships, engaged learning opportunities, and excellent teaching and faculty scholarship, as well as campus preservation and expansion. To date, the campaign has raised $67 million, of which $39 million is designated for the endowment. Several donors have stepped up and made campaign gifts that directly benefit the students and faculty of the Love School of Business.

Peter L. Tourtellot, Chair of Board of AdvisorsAnderson Bauman Tourtellot Vos

W. Thomas AmickAldagen, Inc.

Samuel L. BurkePricewaterhouseCoopers, LLP

Britt W. CarterFleishman-Hilliard, Inc.

Charles R. ClohanDittmar Company

William S. CreekmuirSimmons Bedding Company

John G. Currin, Jr.Alamance Regional Medical Center

Donald A. DibbleDelaware Investments

Victoria DixonElon MBA Representative

Donald S. GalanteMF Global Securities Inc.

Michael T. GannawayVF Corp.

Charles D. GreeneAT&T North Carolina

Captain Thomas J. Harper

William B. HayesLabCorp

Jim HilboldtPfizer Inc.

Frank S. Holt IIIHolt Sublimation Printing and Products Co.

Victor Hughes

Nicholas IgdalskyMattco, Inc./Pocono Raceway

Robert R. LaneKeyBank

Jeffrey W. LeRoseResearch Triangle Software, Inc.

Thomas K. ManningFidelity Bank

John R. MaynardTarheel Research, Ltd.

Judy C. MillerRSVP Communications, Inc.

James A. Moncure IIIBM

Igor PavlovMorgan Stanley

Annabelle C. PowellOmni Resources

Louis M. RiccioLa-Z-Boy Incorporated

J. Karl Sherrill, Jr.Senn Dunn Insurance

John H. SlaytonThe Trust Company of The South

Bernadette M. SpongRex Healthcare

David A. StevensWachovia Bank, N.A.

Philip D. StuartStout Stuart McGowen & King LLP

Linda T. WeavilElon University

Mac WilliamsAlamance County Area Chamber of Commerce

Elmer D. YostYost & Little Realty, Inc.

BoArD oF ADviSorS 2009-2010

Traci ButlerLabCorp

Bob ChandlerChandler Concrete

Michael T. GannawayVF Corp.

Kevin KellyUBS

James McCarthyBritish Telecom

J. Karl Sherrill, Jr.Senn Dunn Insurance

ADviSorY BoArDS 2009–2010

CHANDLER FAMILY PROFESSIONAL SALES CENTER

DOHERTY CENTER FOR ENTREPRENEURIAL LEADERSHIP

W. Thomas AmickAldagen, Inc.

Raj AnanthanpillaiInfoZen, Inc.

Greg ChabonWomble Carlyle Sandridge & Rice, PLLC

Ed DohertyDoherty Enterprises, Inc.

Joan DohertyDoherty Enterprises, Inc.

Mitch JavidiCatevo Group

John R. MaynardTarheel Research, Ltd.

Duffie McKeeCapital Bank

Joan Seifert RoseCouncil for Entrepreneurial Development

Linda AldridgeStout Stuart McGowen & King, LLP

Greg AllenderMcGladrey & Pullen, LLP

Michele CashBlue Cross Blue Shield of North Carolina

Neil BoswellIBM

Ed DodsonLabCorp

Susan EzekielCobb Ezekiel Loy & Co. PA

David JohnsonApple Bell Johnson & Co. PA

Jonathan KraftchickCherry, Bekaert & Holland, LLP

James Mitchell, IVSmith Leonard

Karla D. MundenLincoln Financial Group

Phil PetrosPricewaterhouseCoopers, LLP

Hugh ReynoldsCrowe Chizek and Company, LLC

David ShermanSealy Inc.

Rhonda SkilesBernard Robinson & Co., LLP

C. Thomas Steele, Jr.Wishart Norris Henninger & Pittman PA

Gary SmithGlen Raven Mills

Ted SzottCogent Communications

Bill WilkinsonGilliam Coble & Moser

DEPARTMENT OF ACCOUNTING

M A R T H A A N D S P E N C E R L O V E S C H O O L O F B U S I N E S S

Homecoming 2009

Nonprofit org.U.S. Postage

PAIDElon, NCPermit 1

2075 Campus BoxElon UniversityElon, NC 27244-2010

336-278-6000www.elon.edu/e-web/academics/business/

Change Service Requested

Homecoming 2009 Love School of Business alumni are invited to return to Elon the weekend of Oct. 23-25 for Homecoming. The Alumni Association and campus partners have planned a number of opportunities to reconnect with classmates and faculty.

The LSB faculty, staff and students are excited to host returning alumni on Friday, Oct. 23 for the following events: 3 p.m. Martha and Spencer Love School of Business Alumni PanelLarose Digital Theatre, Koury Business Center

4 p.m. LSB Alumni and Student Networking ReceptionWallace L. Chandler Fountain and Plaza (rain Location: Koury Business Center Atrium) For a full schedule of events and to pre-register, visit www.elon.edu/homecoming.

2008-2009 Elon School of Business Annual Report

Documents

Transcript of 2008-2009 Elon School of Business Annual Report