Beyond Grey Pinstripes

     

U. of Virginia (Darden)

All Participating Schools

     
U. of Virginia (Darden) 100 Darden Blvd.
Charlottesville, VA, 22906-6550
United States
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Demographic Information

Number of full-time MBA students (2011): 

309

Number of part-time MBA students (2011): 

0

Total duration of full-time MBA program: 

21 months

MBA faculty (Fall 2010): 

94

Females as percent of student body: 

29%
Who Are the Students? See what percentage of the 2010-2011 graduating class came to this MBA program from the private sector, the non-profit sector and government jobs
 
Private Sector (86%)
 
Non-profit (7%)
 
Government (7%)


Description of MBA Program: 

Founded in 1954, the University of Virginia Darden School of Business is one of the world’s leading business schools and improves society by developing complete, principled leaders for the world of practical affairs. A complete leader is analytical, intuitive, creative and ethical and is ready to act responsibly and decisively in an uncertain environment. Today, uncertainty is the greatest challenge facing businesses, governments and non-profit organizations, and Darden prepares its students to make sound decisions with limited information.



The unique Darden experience combines the case study method, acclaimed faculty whose research advances global managerial practice and business education, and a tight-knit learning community to develop principled and complete leaders who are ready to make an impact.



Integrated throughout Darden’s curriculum is the theme that while business has a financial bottom line, profitability, it must be achieved in an ethical and socially- and environmentally-responsible manner. The role of business is to create value for all stakeholders. Through the case-method, students learn decision-making frameworks applicable to complex situations involving many stakeholders.



At Darden Ethics is a core discipline of business. Darden was one of the first top-ranked business schools to establish a required, standalone First Year course in Ethics. Ethics and sustainability issues are integrated into nine of the ten required courses in the first year curriculum and numerous ethics, social responsibility, entrepreneurship and sustainability focused electives are offered. Course information is available on the Beyond Grey Pinstripes website. The Darden Faculty includes internationally-known business ethics scholars who do research, as well as develop and actively teach courses at Darden. As part of the University of Virginia, Darden students participate in the 150-year old, student-run Honor System, allowing them to put principles into practice.



Darden is home to several institutions that support research and thought leadership on ethics and sustainability issues. The Olsson Center for Applied Ethics heightens awareness of ethical issues in business and has been instrumental in helping other business schools establish effective ethics programs. Darden’s Business Roundtable Institute for Corporate Ethics is an independent entity established in partnership with Business Roundtable – an association of 160 CEOs from leading companies – focused on renewing and enhancing the link between ethical behavior and business practice. In 2009 Darden will launch with five other academic institutions the Alliance for Research on Corporate Sustainability (ARCS), which exists to provide data and networking that facilitate research on corporate sustainability.



Innovation for sustainability is a key research area for the Batten Institute, Darden’s center for entrepreneurship and innovation. The Executive Director of Batten is an expert on business strategy and corporate sustainability.



How does the MBA program 'walk the talk' of social and environmental impact?: 

In 2008 Darden set the goal to be a zero waste, carbon neutral enterprise by 2020, and a top ten business school for teaching on sustainability by 2013. This goal has served as a catalyst for us to further focus on the sustainability practices of our facility and operations. This year we are recommissioning all building HVAC systems. We have upgraded building control systems for energy efficiency and have found ways to reuse existing furnishings in recent remodeling projects. We recently formed a greenhouse partnership with a local farm to increase our local food sourcing beyond the currently estimated 60% at the height of the growing season.



We think about sustainability in terms of How We Live and How We Learn, bringing together academic learning and facilities changes for sustainability whenever possible. Darden students have initiated many actions related to achieving our goals, including conducting a trash audit, creating a voluntary program to offset the carbon footprint of their MBA education, and producing the annual Sustainability and Renewable Energy Forum. Efforts small and large enhance Darden’s learning environment and engage our community..

Academic Department

Course Name: Accounting for Managers
Instructor: Richard Brownlee, Brandt Allen, Mary Margaret Frank, Luann Lynch & Mark Haskins

As the language of business and the cornerstone of the financial capital markets, accounting provides terminology, frameworks, and concepts with which to understand and analyze the financial consequences of business activities. As these activities have become increasingly complex and global, the task of presenting timely, relevant, and reliable financial information to interested internal and external users has become more challenging. The primary purpose of the first-year program ACC core course is to provide students with considerable financial-statement, financial-analysis, and financial-management expertise in order to enhance their decision-making capabilities. Because integrity in business practices and in financial reporting is essential for the efficient functioning of free capital markets, the issues and topics covered in this course will include on-going class and case discussions of the relevant ethical and social considerations necessary to achieve a desired level of corporate responsibility. This course consists of two complementary components: managerial accounting and financial accounting. Managerial accounting has an internal focus and pertains to the collection and analysis of financial information relevant to business operations, including costs analysis, product and service costing, planning, budgeting, and performance evaluation. Financial accounting pertains to the preparation and analysis of financial statements primarily intended for use by external constituents such as investors, creditors, and government regulators. This course takes primarily a user’s perspective rather than a preparer’s perspective. Nevertheless, it emphasizes the importance of understanding generally accepted accounting principles and practices, including the rationale for existing accounting standards and the reasons for accepted alternatives. Students will be challenged to consider the implications of alternative accounting measurements to various business decisions and various business stakeholders. Throughout the course, the topics covered are presented with the intent of being thought-provoking, managerially relevant, and facilitating decisions that are socially and ethically responsible. Class #1 studies the Pepsico Annual Report, focused on the company’s vision of “Promise with Purpose”, which is largely centered on sustainability issues. Class #31 discusses The First Mates’ Wholesale Boating Company case on the topic of ethical issues in financial reporting.

Course Name: Business and Sustainability
Instructor: Richard (Dick) Brownlee

This course is intended to provide students with a comprehensive conceptual and applied understanding of the sustainability challenges and opportunities facing corporations on a global scale with primary emphasis on environmental sustainability. Students will be exposed to a variety of pressing sustainability issues and to new techniques and approaches for successfully dealing with them. This will occur through readings, case studies, lecture-discussions, and presentations by guest faculty members, corporate executives and sustainability consultants. Because business cannot succeed in a world that fails, this course will examine some of the major factors that are contributing to the adoption of sustainability strategies as a means of gaining future competitive advantage by a number of global industry leaders. These include the inability of the public sector to meet the growing demands of a global society, the emergence of new legislation and market mechanisms that are attaching a price to environmental and social impacts, and society’s rising expectations of business in terms of health, safety, human rights, and the environment. The role of corporations in society has changed from one of creating shareholder value to one where performance is measured in terms of social, environmental and economic value added. Topics to be covered in the course include sustainability concepts and frameworks, sustainable design of products and facilities, global warming and the carbon dilemma, renewable energy, sustainable finance, and strategic sustainability implementation.

Course Name: Business Ethics
Instructor: Jared Harris, Andy Wicks, Bidhan (Bobby) Parmar, Ed Freeman, Sankaran Venkataraman

Throughout the course, students will be encouraged to think deeply about the nature of business, the responsibilities of management, and how business and ethics can be put together. Cases without easy answers that raise a range of problems facing managers in the contemporary business environment will be used. Discussions will focus on developing a framework for analyzing the issues in moral terms and then making a decision and developing a set of reasons for why the decision was justified. Students will be pushed to think carefully about how they make decisions and develop their capacity to defend their decisions to other stakeholders. This is important as a way not only to foster integrity and responsible decision making, but also to push students to take leadership roles in dealing with complex and difficult choices they will face in their careers. Operating from a managerial perspective, students will address a range of themes in the class, including basic concepts in ethics, responsibilities to stakeholders and the building blocks of markets, corporate culture, the sources of ethical breakdowns in organizations, managerial integrity, value creation, and personal values and managerial choice.

Course Name: Business Ethics Through Literature
Instructor: Gregory Fairchild

Broadens and deepens the understanding of the role of ethics in management. Building on First Year Ethics and addressing several key themes for today’s manager, discusses the definition of success in business, race, gender, the role of culture, the privileged place of the executive, and new understandings or models of human beings.

Course Name: Business-Government Relations
Instructor: Alan Beckenstein

In Business Government Relations, the course focuses on the interaction of business, government and other stakeholders in the public policy process. To understand those interactions we study issues where there are multiple policy issues. A number of them are environmental (climate change, large dam development). All of them involve social issues (environment, natural disasters, impact of the financial meltdown). All of them involve ethical questions because there are ethical issues associated with how businesses present their cases to government officials.

Course Name: Decision Analysis
Instructor: Robert Carraway, Phil Pfeifer, Yael Grushka-Cockayne, Casey Lichtendahl, Sam Bodily

Business decisions, both tactical and strategic, are frequently made difficult by the presence of uncertainty in the resulting consequences. Most decision analysis is focused on the economic short-term because it’s easier to quantify and measure. Anything that we do in Decision Analysis can support an ethical approach to leading people and managing institutions—we’re actually not moving the needle forward in terms of society or business unless we do that. One of the philosophical points we push for our students is that analysis is not about getting the right answer and figuring out what to do. It’s about trying to gain insights useful for designing creative solutions. Because it’s easier to measure short-term economic consequences than longer-term ethical ones, the latter can be excluded from the analysis. We ask the question: How much would the benefit have to be to make the economically correct decision to do something that is ethical, sustainable, etc.? How much would it have to be for it to be in our economic best interest? This helps break through the general notion people that ethics and short-term economic interest are opposed to each other. Often they’re not, and a win-win solution is possible. We teach student to apply analysis tools not only to themselves, but also to other parties. Often ethical issues require creative solutions, and we look at analysis as a tool for increased creativity. This course presents a philosophy for framing, analyzing, and proactively managing decisions involving uncertainty, whether the uncertainty results from general conditions or the actions of competitors. The course will focus on making the uncertainty explicit so that it can be objectively analyzed. The course will also focus on proactively managing risk by recognizing and exploiting opportunities to reduce exposure to uncertainty, for example, through contingent contracts. Tools and techniques include decision trees, the value of information, the value of control, downstream decisions, real options, and game theory. Four case discussions focus on topics of sustainability and ethical leadership: 1) Real estate decision heavily impacted by the need for wetlands conservation; 2)Power plant investment that requires either investment in pollution reduction technology or the purchase of carbon offsets; 3) Set of ethical issues inherent in certain pricing decisions; and 4) Decision whether or not to seek LEED Platinum certification for a signature headquarters building (Skanska USA).

Course Name: Entrepreneur as Change Agent
Instructor: Gregory Fairchild

Why do some communities foster economic action and grow rapidly while others do not? Why do some communities appear to build on past advantage, while others fall further behind? Why are some entrepreneurs able to create value for entire communities, while others act in ways that largely benefit themselves? Our sense is that an answer to these questions lies in the stock of entrepreneurs a community creates, and the social collectivities that entrepreneurs come together to create. We believe that entrepreneurship presents the best contemporary outlet for agents of revolutionary change, and our course examines the entrepreneur as change agent within the evolving economy.

Course Name: Faith, Religion and Responsible Management Behavior
Instructor: Andrew Wicks

This course pushes students to think about what it means to be a responsible manager and run a responsible business. The course puts special emphasis on the role of religion – both as a phenomenon that is powerful for many managers in shaping their own moral sensibilities and as a reality that they face in the global economy. We pay special attention to thinking about how students can develop a way of thinking about how ethics (and, as a part of that, religion) and business go together by looking at a range of topics all of which raise questions of values, social responsibility, and how we create a great business that is sustainable.

Course Name: Financial Management and Policies
Instructor: Robert Conroy, Marc Lipson, Elena Loutskina, Michael Schill, Ken Eades

This corporate-finance course focuses on corporate policy and the tactics that increase the value of the corporation. The course starts by stressing how managers interface with the capital markets to learn the return required by the firm’s different investors. This required return, or cost of capital, is used later as the key variable to assess whether capital-investment proposals can create value for stakeholders. Concepts of ethical decision making and corporate responsibility and sustainability, as highlighted by recent market events and the current financial crisis, are covered during course discussions and cases. This illustrates the process of the manager’s relying on the informational efficiency of the capital markets to communicate the minimum return on investment that can create value within the firm. Students explore a two-stage process for the optimal capital-structure decision, where managers must first project future funding needs for the company, after which they can turn their attention to creating the optimal mix of debt and equity to fund those needs and enhance shareholders’ wealth. Case discussions that specifically incorporate social, ethical and environmental topics include a case analysis of a pharmaceutical company decision to reformulate a drug in light of a possible purchase offer, and a bargaining exercise that acknowledges stakeholder concerns that are not easily quantified.

Course Name: Global Business Experience-Brazil
Instructor: Peter Rodriguez, Sherwood Frey, Jeanne Liedtka,, Various Faculty Members

A key element of the Global Business Experiences (GBE) is cross cultural exposure. Courses last 1 week and are taught in the participating county. GBEs enable students to study business and culture firsthand in an international setting. Students take classes at partner business schools, visit companies, and meet with prominent political and business leaders.

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Type of Offering

People + Planet = Profit and More

The very active Net Impact Club and the Energy Club together represent over one-third of the student body. They organize annual conferences and career development opportunities for students such as the 2011 People + Planet = Profit: Rewriting the Business Equation featuring over 35 speakers, The Energy 101 Series and the Renewable Energy Job Trek. Other conferences and events offered at/sponsored by Darden over the past two years have included The Car of Future/Future of the Car Symposium, the Tibet Social Business Conference, speakers such as William McDonough, The Walmart Better Living Business Plan Competition, and the Aspen Institute Business and Society Case Competition. The latter two events allowed students opportunities to present their business plan or case responses to external judges.

Career Development Center

Students are increasingly interested in sustainability-related careers. Darden’s Career Development Center has a Career Consultant with expertise in this area. Darden’s annual Industry Immersion programs include one on Corporate Responsibility, Sustainability and Non-profit Careers.

Center for Global Initiatives
Business School Housing? Yes
Number of Faculty: 7
Contact Name: Peter Rodriguez, Ph.D
Contact Email: rodriguezp@darden.virginia.edu

The Tayloe Murphy International Center develops and implements educational programs and research projects that enhance both student and executive understanding of international issues, enabling them in turn to take advantage of international opportunities. The Center aims to increase global awareness of Darden and of the University of Virginia by promoting interaction between Darden and the rest of the world. It achieves this goal by supporting international programs with partner business schools in Argentina, Australia, Belgium, Brazil, China, France, Holland, Hong Kong, India, Italy, Japan, Mexico, Spain and Sweden.  In addition, the Center brings overseas faculty and business leaders to the University and the Commonwealth of Virginia to share their experiences, knowledge and perspectives. Currently, half of the Center's resources are committed exclusively to Virginia, and the other half to globalization efforts.

Business Roundtable Institute for Corporate Ethics
Business School Housing? No
Number of Faculty: 21
Contact Name: Dean W. Krehmeyer
Contact Email: krehmeyerd@darden.virginia.edu

The Business Roundtable Institute for Corporate Ethics is an independent entity established in partnership with Business Roundtable-an association of 160 CEOs from leading companies-to renew and enhance the link between ethical behavior and business practice.


The Institute brings together leaders from business and academia to fulfill its mission of embedding ethics into the everyday business decision-making and practice of organizations through its executive education programs, practitioner-focused research and outreach efforts.

In partnership with Business Roundtable and 18 leading faculty from 13 top business schools, the Business Roundtable Institute for Corporate Ethics is an organization dedicated to making a lasting contribution to business ethics. The Institute provides a unique opportunity for leading educators, business practitioners and students alike to merge the theory and practice of business together in a seamless enterprise for the common good. The Institute was established on January 14, 2004.

Alliance for Research on Corporate Sustainability (ARCS)
Business School Housing? No
Contact Name: n/a n/a
Contact Email: n/a

In 2009 Darden will launch with five other academic institutions the Alliance for Research on Corporate Sustainability (ARCS), which exists to provide data and networking that facilitate research on corporate sustainability.

The Olsson Center for Applied Ethics
Business School Housing? Yes
Number of Faculty: 23
Contact Name: Edward Freeman
Contact Email: freemane@darden.virginia.edu

The Olsson Center for Applied Ethics was established at Darden to heighten awareness of ethical issues in business. Among its many activities, the Olsson Center produces academic seminars called the Ruffin Lectures, and also publishes the Ruffin Series on Business Ethics. It has been instrumental in helping other business schools establish effective ethics programs. In 1966 the Elis and Signe Olsson family of West Point, Virginia, founded an agency to focus on "efforts to improve standards of behavior in both public and private business" at the University of Virginia's Darden Graduate School of Business Administration. Over the past three decades, the Olsson Center has helped heighten the awareness of ethical and moral issues in business.

The Batten Institute
Business School Housing? No
Number of Faculty: 10
Contact Name: Michael Lenox
Contact Email: batten@darden.virginia.edu

The Batten Institute is dedicated to the creation of knowledge about the transformative power of entrepreneurship and innovation and to the cultivation of principled, entrepreneurial leaders. Innovation for sustainability is a key research area for the Batten Institute. The Executive Director of Batten is an expert on business strategy and corporate sustainability. Batten Institute also engaged a sustainability-focused Batten Fellow in 2008, who taught students and collaborated with Faculty on research. We believe that entrepreneurship and innovation are powerful mechanisms for addressing society’s most pressing issues and that economic and social advancement requires leaders who embrace an entrepreneurial outlook and a commitment to innovation of all kinds.

We support a diverse portfolio of research projects that have clear, practical implications for managers and for society. Our current initiatives examine the role of entrepreneurship and innovation in four areas: growth, emerging markets, sustainability, and healthcare.

We engage leaders through books, articles, reports, teaching cases, curricula, conferences, and workshops. Through the Institute’s active involvement in Darden’s MBA and executive education programs, we help train the next generation of entrepreneurial leaders.

We foster a dynamic community of scholars, practitioners, and students, who come together through such programs as Batten Fellows, Batten Scholars, Batten Innovators Council, Darden Incubator, and the Innovation Lab. We reach out beyond the Darden School to engage people through activities such as lecture series, informal colloquia, and competitions.

Darden African Business Organization (DABO)

The Darden African Business Organization's mission is to contribute to the learning environment, diversity, and global leadership initiative at Darden in addition to providing students and faculty an opportunity to learn more about African businesses, economies, cultures, and politics.

DABO holds events that cover the African business climate, food, fashion and films. The organization intends to bring its members and all Darden students to an understanding of the African heritage in its diverse manifestations, by promoting and supporting programs that foster interpersonal and intercultural awareness as well as academic excellence.

Net Impact

Net Impact at Darden is dedicated to using the power of business to positively impact social, environmental, and economic concerns across the world. With over 120 chapters at top business schools, Net Impact seeks to spread knowledge of social and environmental sustainability, ethics, and values-based leadership to business school students at Darden and beyond. We believe that business can both earn a profit and create positive social change. Net Impact enables us to transform this idea into measurable results. Members share a passion for exploring the interdependence of business and social responsibility while in business school and throughout their professional careers. In 2008, Net Impact sponsored sustainability speakers from Cargill, Duke Energy and GE.

Also in 2008 Darden Net Impact Students won University of Virginia’s Service, Organization, and University Leadership (SOUL) award. Darden students won for Most Outstanding Graduate Contracted Independent Organization (CIO). A CIO is the title for the legal relationship between student-run organizations and UVA.

In November 2008, Net Impact sponsored The Darden Carbon Footprint "DCF" Challenge, a challenge that encouraged students to take actions every day to invest in a carbon neutral future for Darden.

National Association of Women MBAs

The National Association of Women MBAs (NAWMBA) is an organization that provides a forum for students, alumni, faculty and female professionals to discuss the issues and challenges women face in their careers and offers activities that build awareness of women in leadership positions. NAWMBA sponsors social and professional activities as well as providing volunteer opportunities within the community.

NAWMBA sponsors Shelter for Help and Emergency (SHE) Fundraising Auction, Womens Leadership Week, and numerous volunteer activities throughout the year.

Latin American Student Association (LASA)

LASA is a student-run organization that gathers not only Latin American students at Darden, but also students, faculty, and Charlottesville community members interested in learning more about Latin America. Ultimately, our main purpose is to provide students interested in Latin American cultures with a forum to pursue cultural, professional, and social opportunities. LASA is not only a resource for its members - especially for first year students - in terms of academic, social, and career development support. LASA also works as an enhancer to Darden's international perspective by contributing to the diversity of its student body by organizing events that showcase the mosaic of different cultures within Latin America.

Building Goodness in April (BGiA)

Building Goodness in April (BGiA) was founded as Christmas in April-Charlottesville in 199. In 2007, a name and organization affiliation change was made to ensure that the Charlottesville community benefited as much as possible from the efforts of this organization. BGiA is managed independently by Darden students who have complete responsibility for all fundraising needs, community partnerships, and home rehabilitation efforts.

Every year in April, BGiA volunteers rehabilitate homes in the Charlottesville community. Our mission is to rehabilitate the homes of low-income, elderly, and disabled families. We keep people living in warmth, safety and independence, to prevent homelessness, and to revitalize our neighborhoods. We achieve this sustainable impact by partnering with individuals and businesses in the local community. Building Goodness in April is a committee within the Building Goodness Foundation, an organization powered by skilled volunteers from the construction trades and our community.

Black Business Student Forum

The Black Business Student Forum (BBSF) at Darden is focused on bringing together the past, present and future Darden African-American communities. In that pursuit, the BBSF develops programs that promote academic excellence, provide safe environments for the discussion of issues surrounding race, support professional development and encourage social and community service activities.

The BBSF is committed to building a strong community in and around Darden for all stakeholders involved. We achieve our goal of building a strong community through activities including study groups, social events, academic & advising sessions, community outreach, and everyday interaction with and learning from one another. We encourage the building of relationships within Darden and outside Darden with other graduate and undergraduate programs as well as in the Charlottesville community.

Outreach at Darden

Outreach is Darden’s umbrella community service organization. Members and friends participate in a wide range of volunteer activities that positively impact neighboring communities. Darden students, partners, faculty and staff take a personal interest in community outreach. Sponsored activities offer opportunities to get involved in seasonal, monthly, or weekly volunteer work and community service that takes place outside Darden’s classrooms. Tutoring at local elementary schools, volunteering for special Olympic events, and helping others build job skills and resume coaching are some of the activities offered through Outreach. Students volunteer for many reasons, citing opportunities to make a positive impact on the world outside of Darden, to build upon their leadership skills through service work and to help others by giving back to the local community.

Can Stakeholder Theorists Seize the Moment
Author(s): Ed Freeman

The recent global financial crisis has generated a groundswell of public and political opinion about the state of business around the globe. Clearly there are multiple causes of the global financial crisis. Unfortunately, the public debate and the political action that will surely result are both based on a faulty understanding of the essence of business and capitalism. This old and shopworn model of business suggests that the secret to capitalism is that business people can maximize the returns to the owners of capital. While there are many unsettled questions in stakeholder theory, it provides a better starting point for understanding the global financial crisis than the alternative. One of the key insights of stakeholder theory has not been well understood, and it is that the intersection of stakeholder interests is more interesting than the conflict of stakeholder interests. Indeed, exactly where interests conflict, there is an opportunity to redefine those interests so that all can win.

Journal Title: Journal of Corporate Citizenship Volume: Edition: 26 Page Numbers: 21-24
Ethics and Entrepreneurship
Author(s): Jared Harris

As the study of entrepreneurship and the study of business ethics become increasingly established, the intersection of entrepreneurship and ethics is receiving increasing scholarly attention. In this paper, we review the research connecting ethics and entrepreneurship, classifying the literature into three broad themes; we also identify and integrate the key themes that emerge, and we offer suggestions for future research. We conclude by introducing the articles in this special issue.

Journal Title: Journal of Business Venturing Volume: 5 Edition: 24 Page Numbers: 407-418
Intergenerational Ethnic Enclave Influences on the Likelihood of Being Self-Employed
Author(s): Gregory Fairchild

How does the experience of living in an ethnic enclave during formative years influence the propensity to be self-employed? This study examines the intergenerational influence of exposure to self-employed, co-ethnic neighbors on the likelihood that racial or ethnic minorities will become self-employed. The paper develops a model of factors that influence self-employment likelihood, including intergenerational co-ethnic predictors, and tests them through an analysis of respondents to the 2000 U.S. Census long-form survey (i.e., IPUMS). Results show that higher levels of exposure to entrepreneurial co-ethnics in the parent's generation have a strong impact on self-employment likelihood.

Journal Title: Journal of Business Venturing Volume: 3 Edition: 25 Page Numbers: 290
Outcome-Driven Supply Chains
Author(s): Edward Davis; Robert Spekman

Managers are increasingly recognizing that the benefits of traditional supply chains -- reduced cost, faster delivery and improved quality -- are no longer sufficient by themselves for the modern marketplace. A new paradigm is emerging of a more sophisticated supply chain, one that also serves as a vehicle for developing and sustaining competitive advantage by delivering specific outcomes. So concluded participants in the Supply Chain Management 2010 and Beyond research initiative -- a four-year set of surveys and workshops on which this article is based. The authors report that the "supply chains of tomorrow" should achieve varying degrees of six basic outcomes, depending on their specific customer base and its set of needs. They are: cost, responsiveness, security, sustainability, resilience and innovation.

Journal Title: MIT Sloan Management Review Volume: 2 Edition: 51 Page Numbers: 33-40
Private Environmental Activism and the Selection and Response of Firm Targets
Author(s): Michael Lenox

Environmental activists are increasingly resorting to private strategies such as boycotts and protests focused on changing individual firms' behavior. In this paper, we examine activists' use of such "private politics" to engender firm compliance with activist objectives. We begin by developing a simple theoretical model of an activist campaign from which we develop a set of empirical hypotheses based on a set of observable features of firms. We test our hypotheses using a unique dataset of environmental activist campaigns against firms in the United States from 1988 to 2003. This paper fills an important need in the literature as one of the first empirical attempts to examine the private political strategies of activists and has important implications for the burgeoning literatures on industry self-regulation and the nonmarket strategies of firms.

Journal Title: Journal of Economics & Management Strategy Volume: 1 Edition: 18 Page Numbers: 45-73
Public Trust' and Trust in Particular Firm-Stakeholder Interactions
Author(s): Jared Harris; Andrew Wicks

Trust is a well-established facet of organizational life, and one that can have a profound effect upon the performance of business organizations. In this paper, we develop a theoretical model that accounts for different aspects of trust, differential stakeholder views of trust, and how these differences impact a stakeholder's trust in a particular business. In turn, we theorize about the connection between this particularized stakeholder trust and the trust one has in business as an institution, accounting for the role of institutional influences and societal accounts (ie, 'narratives') about business. We discuss implications of the model and directions for future research.

Journal Title: Corporate Reputation Review Volume: 2 Edition: 13 Page Numbers: 142-154
Racial Segregation in the Public Schools and Adult Labor Market Outcomes: The Case of Black Americans
Author(s): Gregory Fairchild

Residential segregation has played a central role in theories of minority entrepreneurship and in the diversification of the U.S. labor market. Racial diversity in public accommodations, including schools, has been an issue of continuous public policy debate at least since the U.S. Supreme Court’s Plessy versus Ferguson decision (1896). This study applies theory from the literature on social capital to an examination of the role of racial segregation in the public schools of blacks during childhood on their adult likelihood to become self-employed and their level of occupational status. The model results indicate that, after controlling for a number of individual, household and metropolitan-area factors, lower rates of segregation during public schooling results in higher likelihood of wage-salary employment and self-employment among a cohort of black Americans that attended public schools during the 1960s.

Journal Title: Small Business Economics Volume: 4 Edition: 33 Page Numbers: 467-484
Related debates in ethics and entrepreneurship: Values, opportunities and contingency
Author(s): Saras Sarasvathy; Edward Freeman

In this paper, we review two seemingly unrelated debates. In business ethics, the argument is about values: are they universal or emergent? In ntrepreneurship, it is about opportunities – are they discovered or constructed? In reality, these debates are similar as they both overlook contingency. We draw insight from pragmatism to define contingency as possibility without necessity. We analyze real-life narratives and show how entrepreneurship and ethics emerge from our discussion as parallel streams of thought.

Journal Title: Journal of Busness Ethics Volume: Edition: Page Numbers:
Residential Segregation Influences on the Likelihood of Ethnic Self-Employment," Entrepreneurship Theory and Practice
Author(s): Gregory Fairchild

Geographic and environmental influences on economic action have a long history in managerial research. This paper develops and estimates a model of the potential of a broad set of U.S. racial minority groups to enter self-employment based on individual-level, household-level, and metropolitan area-level factors. The model allows for an analysis of two distinct residential segregation processes on self-employment likelihood. Results indicate that clustering by race has group-specific influences, increasing the likelihood of self-employment for some groups and diminishing for others. Higher levels of racial exposure raise the likelihood of entrepreneurial careers for all groups, but especially for Blacks.

Journal Title: Entrepreneurship Theory and Practice Volume: 2 Edition: 33 Page Numbers: 373-395
Sustainable Development and Entrepreneurship: Past Contributions and Future Directions
Author(s): Michael Lenox

This article discusses the emerging research concerned with sustainable development and
entrepreneurship, which is the focus of this special issue of the Journal of Business Venturing.
Entrepreneurship has been recognized as a major conduit for sustainable products and processes,
and new ventures are being held up as a panacea for many social and environmental concerns.
However, there remains considerable uncertainty regarding the nature of entrepreneurship's role
and how it may unfold. We begin with an overview of sustainable development and the role of
entrepreneurship and outline recent contributions exploring this role. We then summarize the
papers presented in this special issue and conclude with suggestions for further research.

Journal Title: Journal of Business Venturing Volume: 5 Edition: 25 Page Numbers: 439-448
The entrepreneur-environment nexus: Uncertainty, innovation and allocation
Author(s): S. Venkataraman

We build upon a recent stream of research that has proposed entrepreneurship as a solution to, rather than a cause of, environmental degradation. Our proposition is that under certain conditions entrepreneurs are likely to supplement, or surpass, the efforts of governments, NGOs and existing firms to achieve environmental sustainability. Entrepreneurs can contribute to solving environmental problems through helping extant institutions in achieving their goals and by creating new, more environmentally sustainable products, services and institutions. Our model illustrates how entrepreneurs 1) address environmental uncertainty, 2) provide innovation and 3) engage in resource allocation to address environmental degradation.

Journal Title: Journal of Business Venturing Volume: 5 Edition: 25 Page Numbers: 449-463
Too Good to Be True? The Unintended Signaling Effects of Educational Prestige on External Expectations of Team Performance
Author(s): Melissa Thomas-Hunt

In this paper we report the results of two experimental studies designed to test how demographic characteristics affect outsiders' assessments of a firm's top managers. We draw on theories of evaluation and status characteristics to examine the interactive effects of managers' racial characteristics and educational prestige on external perceptions. In the first study, we find that top executives' educational background and race affected analysts' valuation of a firm's stock. Outside analysts made the highest stock price projections for firms led by white executives who had highly prestigious educational backgrounds but made the lowest valuations for firms led by African Americans with the same prestigious education. We posit that the moderating effect of executives' racial characteristics stems from outsiders' assumptions that African American managers received preferential treatment in the admissions process for high prestige universities. In the second study, we find that when we explicitly removed the possibility of preferential selection, analysts gave the same stock valuation to firms led by white and African American executives with high educational prestige. We discuss the implications of these findings for theory and management.

Journal Title: Organization Science Volume: 5 Edition: 21 Page Numbers: 1108–1120
What's Wrong with Executive Compensation
Author(s): Jared Harris

I broadly explore the question by examining
several common criticisms of CEO pay through both
philosophical and empirical lenses. While some criticisms
appear to be unfounded, the analysis shows not only that
current compensation practices are problematic both from
the standpoint of distributive justice and fairness, but also
that incentive pay ultimately exacerbates the very agency
problem it is purported to solve.

Journal Title: Journal of Business Ethics Volume: Edition: 85, supplement Page Numbers: 147-156
Why Firms Engage in Corruption: A Top Management Perspective
Author(s): Peter Rodriguez

This study builds upon the top management literature to predict and test antecedents to firms' engagement in corruption. Building on a survey of 341 executives in India, we find that if executives have social ties with government officials, their firms are more likely to engage in corruption. Further, these executives are likely to rationalize engaging in corruption as a necessity for being competitive. The results collectively illustrate the role that executives' social ties and perceptions have in shaping illegal actions of their respective firms.

Journal Title: Journal of Business Ethics Volume: 1 Edition: 87 Page Numbers: 89-108