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Wake Forest University (Babcock)

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Wake Forest University (Babcock)
Winston-Salem, NC, 27109-7659
United States
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Demographic Information

Number of full-time MBA students (2011): 

62

Number of part-time MBA students (2011): 

131

Total duration of full-time MBA program: 

21 months

MBA faculty (Fall 2010): 

92

Females as percent of student body: 

18%


Description of MBA Program: 

The Schools of Business Full-time MBA remains true to Wake Forest University’s tradition – to provide an education based on the values expressed in the university’s motto, Pro Humanitate, education for the benefit of humanity. The School continually strives to uphold this mission and make an impact through advocacy, engagement and shared learning with other organizations, both globally and locally and offers an outstanding educational experience in the context of recognized societal values.

 

Law and Ethics is a required class is the first-year core curriculum, and social, environmental and ethical issues are interwoven throughout the remainder of the core curriculum courses, as well as numerous electives. Students become active participants in advancing social and/or environmental issues through curriculum-related activities such as international study trips; participation in the Wake Forest Business Solutions, Community Law & Business Clinic, and other practicum courses; and writing original teaching cases with teaching notes, based on their social entrepreneurship internship experiences. In 2010, the Schools of Business added an international trip that is focused on renewable energy and how public policy is formed. Students traveled to Spain in the Spring of 2010 and Germany in the Spring of 2011 to study how these countries are addressing these issues. The course is designed for students to (1) compare and contrast U.S. and European governmental policies and procedures related to environmental degradation and challenges with fossil fuels, climate change and costs of energy; (2) obtain first-hand knowledge of the renewable energy technologies that are being used in Europe and (3) model the European carbon trading market and its impact on businesses.

 

Outside the classroom students have numerous opportunities to gain relevant exposure and experience through guest lectures, workshops, case competitions, student clubs, summer internships, participation in institute-sponsored activities, and community projects. The vast majority of our student body takes part in community volunteer projects such as the Financial Literacy Program, in which MBA students work with youth currently in foster care to help them prepare for life after leaving the system.

 

Also, throughout the year, students travel to Central America to share their skills with small business owners and entrepreneurs as part of Project Nicaragua, an ongoing MBA student-driven effort to educate aspiring entrepreneurs and small business owners in Nicaragua’s economically deprived areas. Wake Forest is an institutional member of the Association for the Advancement of Sustainability in Higher Education (AASHE). AASHE is an association of colleges and universities that are working to create a sustainable future by providing resources, professional development, and a network of support to enable institutions of higher education to model and advance sustainability in everything they do, from governance and operations to education and research.



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

Wake Forest students used nearly a quarter of a million polystyrene, clamshell containers for carry-out food from campus dining rooms in 2009 — about 7,000 containers per week. Containers made from polystyrene foam are not recyclable in the Winston-Salem area. To help solve the problem, reusable to-go boxes are now available for free as part of Dining Services’ “Erase the Waste” campaign. When used containers are returned, they’re washed and sanitized, and ready to use again.

 

The university’s dining services provider, ARAMARK, began using a new cleaning method that eliminates 99.9 percent of germs while cutting chemical usage by up to 65 percent. Students, faculty and staff may have seen the space-age looking cleaning tools currently used by ARAMARK employees to clean tables between uses. These glowing clean-machines, called “ionators,” zap germs with a slight electric charge and lift dirt and bacteria from surfaces using ionized tap water. This means that no chemicals are needed to clean and disinfect tables.

 

Another new green-cleaning program employed by campus dining is the use of high efficiency floor cleaning machines from Tennant. The T3 Walk Behind Floor Scrubber is equipped with Foam-Activated Scrubbing Technology designed to reduce detergent usage by 90 percent and water usage by 70 percent, compared with traditional scrubbing methods.

 

By dramatically cutting chemical usage in dining facilities, employees are exposed to lower quantities of fewer chemicals, resulting in a healthier workplace. By using ionators instead of traditional cleaning chemicals on eating surfaces, diners also enjoy a safer eating environment.

 

The University has also launched a car-sharing program, Zipcar. Two cars are available — a hybrid Honda Insight and a Honda Civic — for use on an hourly or daily basis by students, faculty and staff. It is estimated that each Zipcar on a college campus eliminates 15 to 20 student-owned vehicles, reducing traffic congestion and the need for parking. Students must register in advance to drive a Zipcar and then can reserve one online.

 

The University has also begun using a solar-electric hybrid shuttle to take students, faculty and staff around the Reynolda Campus. The 14-passenger vehicle converts direct sunlight into electricity; a series of solar cells on the roof helps generate the electrical energy needed to charge the shuttle’s 16 maintenance-free batteries. At night, an automatic charger is plugged into the vehicle to completely recharge the batteries using electricity.

 

Faculty, staff and students are encouraged to “think before you ink.” If a physical copy of a document is not needed, it is distributed electronically. Networked copier devices replaced individual laser and personal inkjet printers because when not in use, they enter a hibernate mode that does not actively consume energy. Most copier devices are set to automatically print on both sides of the paper, resulting in up to a 50 percent reduction in paper use.

 

Facilities and Campus Services works year round to save energy and keep utility costs in check. Wake Forest was in its third year of the Holiday Setbacks program in 2010. It allows the temperatures of 75 percent of the university’s indoor space to float between 55 and 85 degrees with no help from heating or air condition during winter break. The university saved about $22,000 in avoided electrical use and $37,000 in avoided steam production, for a total of about $59,000 over the 11-day set back in 2009. The university saved about $7,000 in electrical and $23,000 in steam, for a total of about $30,000 over a 9-day period in 2008.

Academic Department

Course Name: Accounting
Instructor: Ken Middaugh, Ya-wen Yang

Accounting is the language of business, with its own vocabulary and rules. This course focuses on the need for users of accounting information to understand accounting systems. Accounting is studied both as a method of communication and as a decision-making tool. Topics include the structure of conventional accounting, measurement of cost and value, processing accounting data, financial analysis, control, and using accounting information in planning. This course covers the ethical treatment of customers, fair pricing concepts, and the role of political pressure and lobbying in the accounting regulation and policy setting process. Famous accounting and financial frauds are discussed in this course. The goal is to help students understand the ethical issues involved in financial accounting.

Course Name: Advanced Branding
Instructor: Michelle Roehm

The purpose of this course is to deepen students’ acquaintance with concepts, methods and tools involved in building and assessing the drivers of brand equity. The centerpiece of the work is the interpretation of results from a current survey of brand perceptions. The students are challenged to apply contemporary branding models and trends, as well as your their insights, to understand why some brands currently hold stronger positions than do others in the same category. Building on this analysis, consideration will also be given to larger trends and conclusions that the individual brand “stories” seem to suggest. These brand stories include discussions of social, ethical and environmental issues. Corporate social responsibility is specifically addressed in the context of a Habitat for Humanity case.

Course Name: Advanced Financial Management
Instructor: Ajay Patel

This course begins by discussing the role of ethics and incentives in decision making. The discussion naturally progresses to sustainability and the triple bottom line. From there, issues related to ethics, incentives, sustainability, governance and the environmental impact of decisions are brought up when appropriate during case discussions or when discussing class readings. For example, when analyzing the impact of a leveraged buyout, issues related to the impact of layoffs on the community are discussed. Also, does the desire to make decisions that benefit owner-managers in an LBO conflict with the benefits that accrue to other stakeholders? How should one think through these tradeoffs? Another example would be during a discussion of capital raising, especially initial public offerings. How have conflicts of interest affected pricing, analyst recommendations and initial allocations? How does one build systems that reduce ethical conflicts and protect society at large, and is this activity economically beneficial to society at large? Discussions include how ethical shortfalls, conflicts of interest, a failure of governance, and greed all played a role in the upheaval in the capital markets and how the impact of those shortfalls is being felt by the average person on the street.

Course Name: Advanced HRM Concepts
Instructor: Mary Kesel

The purpose of this course is to examine the important human resources management (HRM) skills that are frequently used by managers. This course examines how employment relations are influenced by cultural, economic, legal, psychological, and social forces. Human resources and managers must be prepared to implement innovative solutions to meet the challenges of a diverse workforce and customer base, both legally and ethically. Ethical issues pose challenges to organizations especially in the wake of recent scandals. The course emphasizes four fundamental topics: (1) the selection of employees; (2) the development of their skills; (3) the use of compensation and incentives to motivate workers (4) the organization of the workforce into teams.

Retaining talent is impacted by each company's work/life balance. Work/life culture is influenced by the changing societal roles of women, men and families. Business success can be directly impacted by understanding these changes and implementing programs that meet the needs of employees and their families. Developing ethical leaders is another big challenge facing business and critical to business success and societal advancement.

Course Name: Advertising Management
Instructor: Roger Beahm

MBA students whose career plans involve making marketing-mix decisions need to understand advertising management. In addition to advertising, this course addresses elements of a marketing communications program such as promotions, direct mail, publicity, packaging, and point of sale material. The objectives are: (1) to increase students' understanding of important issues in planning and executing marketing communications campaigns; (2) to introduce students to theories and models that will improve their abilities to make marketing communications decisions; and (3) to acquaint students with contemporary research in marketing communications. A portion of this course is dedicated to studying the social responsibility of advertising. Included is a study of the ethical issues confronting advertising managers, and the principles used to help guide decision-making.

Course Name: Bankruptcy
Instructor: Steve Nickles

The course examines the basic legal framework for unsecured asset-backed lending and securitization; the rights of creditors under state law against a firm in financial distress; and the preemptive relief and opportunities for corporate reorganization and other restructuring under federal bankruptcy law. The fundamental aspects of Chapter 7 liquidation are explained because they underlie reorganization law. However, the main subjects of the course are the principal contours and mechanisms of the Chapter 11 process. Social impact issues are addressed in this course through Chapter 11 bankruptcy and its role in preserving communities and culture, not just the business itself. Modern uses and misuses of Chapter 11 bankruptcy and their impact on business and society are also discussed.

Course Name: Biotechnology Law
Instructor: Mark Hall

The main focus is of this course is how law incorporates, shapes, and responds to public policy concerns in the biotech area. A broad range of legal topics is covered, including FDA regulation of drugs and devices, regulation of medical research, insurance coverage of pharmaceuticals, intellectual property, and genetics. Topics pertaining to ethics, society and the environment are interwoven into the entire course and include discussions on research ethics, intellectual property, genetics, and regulatory policy.

Course Name: Brand Management
Instructor: Michelle Roehm, Roger Beahm

The recent growth of private-label brands and the increasing use of price promotion as a competitive strategy make it essential that managers understand how to build and maintain brand equity. This course is concerned with identifying and studying strategies and tactics companies use to build and manage brand equity. Within this context students explore how cause marketing can contribute positively to brand equity. Students are then challenged to identify and recommend cause marketing programs as part of a larger annual marketing plan which they must develop for a real company. Separately, students also study brand positioning and the value and importance social responsibility plays in helping create more favorable brand positionings. The class will also discuss management practice for brand-related scandals that result from social and ethical lapses in business organizations.

Course Name: Business Plan Practicum
Instructor: Kim Westmoreland

Starting a new venture is risky and often ends in failure. A convincing business plan is an effective tool for entrepreneurs who want to reduce risks and better ensure success. A business plan serves two purposes. It acts as a roadmap for managers and helps to secure financing. This course focuses on the critical components of a business plan. The major course assignment is to prepare a business plan for a business opportunity chosen by the student. Relevant issues addressed are understanding the behavioral dimension of the entrepreneur, studying dynamic entrepreneurs, attracting and managing stakeholders, building a successful entrepreneurial team and evaluating your "fit" as an entrepreneur (leadership). Some business plans focus on social impact or environmental opportunities, and all business plans in today’s business environment must address sustainability issues.

Course Name: Buyer Behavior
Instructor: Fredrika Spencer

This course seeks to understand the influences, factors and decisions involved when consumers select, purchase, use and/or dispose of products, services, ideas, or experiences to satisfy needs and desires. Consumerism takes many forms, including individual consumers downloading music to an iPod, shopping for a pair of jeans, and/or deciding how to plan for retirement, as well as an executive in a large corporation deciding on a multimillion-dollar computer system. The intent of this course is to provide students with an understanding of the internal factors (affect and cognition) and the external factors (the environment) and their impact on consumer behavior. The assignments and readings, as well as class discussions, will address both theory and practical demonstrations of consumer behavior. Several class sessions are devoted to social and cultural influences and the ethics behind conditioning and learned behaviors.

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Type of Offering

BB&T Center for the Study of Capitalism: Ethics Passport Speaker Series

Against this background of significant turmoil in the business, economic, social, and political environments, in 2008 the BB&T Center for the Study of Capitalism was formed at Wake Forest University. The objective of the Center is to engage faculty and students – as well as the public – in serious and sustained examination of capitalism vis-à-vis competing economic systems, the philosophical foundations of capitalism, its practical impacts in society, the obligations of institutions that operate within capitalist systems, and related social and political issues.

The Ethics Passport Speaker Series is among the activities sponsored by the Center. Topics include: “Egoism, Altruism, and Objectivism as Ethical Standards in Business” “Ethics and Corporate Greed” “Integrity: A Positive Model of Morality, Ethics, and Legality” “The Role of Reason and Emotion in an Ethical Climate” “Finding the Way Back: Impacts of White Collar Crime” and “The Value of Business Ethics Outside Business.” Internationally acclaimed authors, educators, researchers, filmmakers and executives have participated as Ethics Passport Speakers.

Family Business Center Forums

The Family Business Center at the Wake Forest University Schools of Business offers quarterly forums featuring well-known authorities on closely held and family businesses, Wake Forest MBA faculty, and executives. Forums feature "living" case studies of closely held firms. Forum topics between August 2009 and July 2011 include: "Succession Planning: A Broader Perspective" "Generational Differences: Reality or Hype?" "Business Owner's Pathway to Maximizing and Preserving Business and Personal Wealth" "Branding the Family Name" "High Performance Leadership" "Estate and Succession Planning" "Evaluating Management: Identifying Strengths and Weaknesses" "100 Years of Bush Beans" and "Communication within the Family Business."

Tim Irwin: Authenticity, Humility, Self-Management and Courage
Date: August, 2010

Leaders are more likely to fail due to a compromise in character versus overall competence. That was the message stressed by nationally recognized consultant, author and psychologist; Tim Irwin, Ph.D. as he presented the keynote address to incoming Wake Forest University Schools of Business graduate students on Aug. 19, 2010 at Bridger Field House. “Character is about being authentic, it’s about being humble, it’s about being self-managed and it’s about being courageous,” said Irwin.

Irwin’s presentation, “What Should I Learn in Business School?” featured videos showcasing the recent career “derailments” of several high profile leaders including former BP CEO Tony Hayward, journalist Helen Thomas and professional golfer Tiger Woods. Irwin said most leaders have fine business educations. However; arrogance, a lack of self-awareness, a sense of entitlement and missed warning signals lead to catastrophic failure. Rationalization is the killing ground of character, according to Irwin. “Do you ever think of rationalize as rational lies? It’s not good to lie to someone else. What’s even worse is to lie to ourselves, saying I don’t have to follow the rules, I am entitled, I am too important to fail.”

To avoid career derailment, Irwin urged business students to develop good habits like journaling, giving and receiving frequent feedback, keeping commitments, and practicing self-discipline.

Dean of Business Steve Reinemund joined Irwin in a town hall style question and answer session in which students asked introspective questions about ethical challenges, leadership development and career advancement.

MBA Marketing Summit
Date: February, 2011

The Wake Forest MBA Marketing Summit, a case competition, gives eight teams of MBA students from the world’s top programs 36 hours to prepare a creative, strategic solution to a real-world marketing challenge faced by a real-life corporate sponsor. Case solutions are presented to a panel of expert judges and representatives of the sponsoring company.

VF Corporation was the official sponsor the 21st annual Marketing Summit, which took place on Feb. 3-5, 2011. With a strategy that focuses on the "Art and Science of apparel," VF Corporation is the world's largest apparel company with brands that include Lee Jeans, Wrangler, Nautica and The North Face, just to name a few. The winning team not only receives bragging rights, but also a cash prize of $75,000.

The 2010 Marketing Summit was sponsored by IBM and included a Diversity in Corporate America panel with Fortune 500 diversity executives and guest speaker, consultant and author Michael Silverstein’s presentation “Women Want More.”

Community Plunge: Graduate Business Students Help Grow Fresh Produce for Food Bank
Type: Community Service Project
Date: August, 2010

Fresh produce is available to less fortunate families in 18 counties in North Carolina this fall thanks to the volunteer efforts of Wake Forest University Schools of Business students.

Sixty-five Master of Business Administration, Master of Science in Accountancy, and Master of Arts in Management students took the Community Plunge on Saturday, August 21, 2010 at the Food Bank Community Garden located on two acres of land at the Children’s Home in Winston-Salem. The students spent the hot summer day harvesting remaining vegetable plants, weeding, preparing soil, and planting fall crops such as collard greens, broccoli and cabbage.

The Food Bank Community Garden is the primary source of fresh produce for the Second Harvest Food Bank. The produce is also used in the Triad Community Kitchen to help train local residents for food service industry jobs. Andrew Verga (MBA ’11), President of the WFU Schools of Business Net Impact Chapter, organized this year’s Community Plunge day with a goal of introducing classmates to ways they can make an impact on social and environmental issues throughout the school year.

Leading Out Loud: Broyhill Executive Lecture Series
Date: 2010

The Wake Forest University Schools of Business hosted several speakers addressing current social and leadership issues. The lectures contained themes of personal passion, sustainability, social issues and ethical challenges.

On Nov. 17, 2010, Inventor Dean Kamen discussed how his passion for science and technology drives him as a tireless advocate of innovation. His topics included the invention of a self-powered machine that can convert any kind of liquid into safe drinking water. Millions of people, mostly children, die from waterborne illnesses each year. He explained how this invention has the potential to save lives and improve living conditions, but has been a tough sell because the people who need it the most are in poor, undeveloped countries. He encouraged business students to support sustainable ventures that have a long term impact on humanity versus a short term profit.

On Nov. 11, 2010, Robert Holland, Managing Partner, Essex Lake Group shared personal accounts of his life journey with Schools of Business students and faculty. Holland grew up in a racially segregated town in Michigan and became the first African-American CEO of a majority-owned franchise company when he took over the top post at Ben and Jerry’s Ice Cream. He discussed how he almost didn’t get into college due to racial barriers and gave credit to people who helped open doors for him. Holland highlighted the importance of committing random acts of kindness saying, "If you haven't helped a stranger in some small way, you have missed out on an opportunity."

On Oct. 21, 2010, Susan Ivey, Chairman, President & CEO of Reynolds American explained the value of listening and said good leaders are continual learners and should trust and solicit input from others. She encouraged her audience to take chances and recognize that failure is part of the process to truly succeed. Ivey discussed how having conversations about diversity are important. “It’s not about race or sex, it’s about perspective, and recognizing the more perspectives at the table, the better off you’ll be,” she said.

On Sept. 28, 2010, Mike Duke, President of Wal-Mart Stores, Inc. focused his message on leading global growth. He shared how he would like to see his company become a leader on major social issues in communities. Duke discussed the concept of a sustainability index to allow customers to understand the carbon footprint of products when making buying decisions. He also shared steps the company was taking to improve e-commerce and reduce costs and waste associated with transportation.

The Elevator Competition
Date: March, 2011

The Elevator Competition, which was first held in 2000, allows students from schools across the country to test their skills at making the perfect elevator pitch. Each student team is required to perform a two-minute pitch, supply a detailed business plan, and prepare a formal presentation of their business venture.

There are traditional and social competition categories. In the social category, competitors identify gaps within current social systems and create innovative solutions in society or redefine those social systems, meeting the needs of the community, the environment, or both. These entrepreneurs measure their success based on the triple bottom line: economic, environmental, and social.

Energizing the Future Conference
Date: February, 2010

Wake Forest University hosted the Energizing the Future conference on Feb. 10 & 11, 2010. It was designed to create a dialogue with innovative business leaders, leading researchers, and policy makers to discuss energy use and policy in their current and future forms.

Speakers included:

•NY Times columnist and bestselling author, Thomas Friedman (“Hot, Flat and Crowded”)

•Secretary of Energy Dr. Steven Chu via pre-recorded video

•James Rogers, CEO of Duke Energy

•Aubrey McClendon, CEO of Chesapeake Energy

•Academic specialists in energy technology, legislation and economics

•Entrepreneurs who are developing alternative technology businesses

The BB&T Center for the Study of Capitalism at the Wake Forest University Schools of Business and the Graduate School of Business along with several other campus programs helped provide financial support for the conference.

Healthcare Lecture Series
Date: 2010

In 2009, the Wake Forest University Schools of Business began offering an MBA with a healthcare concentration. Some of the students in the program formed the Healthcare Club. This Club has organized and sponsored a Healthcare Lecture Series focusing on business and social issues impacting the field healthcare.

On Sept. 9, 2010, Larry Hughes, member-in-charge of the Healthcare Services Group for Dixon Hughes discussed reform legislation implications to labor and supply chain management. Hughes explained how healthcare in the United States is undergoing monumental changes and the industry needs bright minds to meet the challenges. But with the challenges come many career opportunities for business students. Healthcare organizations are looking for people and products to improve value while eliminating errors.

Dean Cinkins, Senior Client Director for GE Healthcare, came to campus on Nov. 4, 2010 to present “Initiating, Leading and Managing Change.” Cinkins stressed that only organizations that consistently deliver quality will survive. He said that the human aspect of healthcare cannot be underestimated and that leadership is quite different from management. Cinkins shared models for shaping a vision, mobilizing commitment and making change last.

Career Management Center (CMC)

The Career Management Center (CMC) works individually with students to help them attain a position in their desired field of interest by assessing career options, refining goals and networking with well-placed corporate contacts and alumni. Beyond the immediate job search, the CMC works with students to develop skills that will enhance lifelong career progression.

CMC staff members have corporate experience in various functional areas that they use to benefit students, and each student is assigned a counselor based on areas of interest and degree program. If student interest lies in the realm of social impact and/or environmental management, the CMC will work to identify companies for the student to pursue during a one-on-one counseling session, arrange for professionals from related firms to participate in the annual career symposium, and pair the student with a mentor from his/her field of interest.

Additionally, all students have access to the alumni career networking database, which is searchable by job function, company, industry or location.

Executive Partners Mentorship Program

The Executive Partners Mentorship Program pairs members of the business community with first-year MBA students. Mentors, established business professionals who serve as advisers, counselors and friends, share their expertise with students and offer new perspectives and guidance. Students are matched with a mentor based on a personal interview and a computerized assessment tool. The pairs often find they have a common bond with career interests, hobbies and communication styles. Mentors and students meet regularly and follow a structured program to maximize the time spent working together. Students have opportunities to visit their mentor’s workplace, attend meetings and participate in training activities to familiarize themselves with managerial responsibility and corporate culture.

Flow Institute for International Studies
Business School Housing? No
Number of Faculty: 1
Contact Name: Jon Duchac
Contact Email: duchacje@wfu.edu

The Flow Institute for International Studies helps students develop their understanding of other countries’ economies, businesses and cultures through study tours, speakers and seminars. Students may choose from several summer international study tours. T

Angell Center for Entrepreneurship
Business School Housing? No
Number of Faculty: 6
Contact Name: Stan Mandel
Contact Email: stan.mandel@mba.wfu.edu

The Angell Center's mission is to unite the talents of entrepreneurs, students, and faculty as stewards in the pursuit of excellence within entrepreneurial outreach, curriculum and research. The Angell Center features several programs that foster entrepreneurship, including the Elevator Competition, the Kauffman/Angell Center National Entrepreneurial Case-Writing Competition, and the Family Business Center (Triad and Charlotte Metro).

The Elevator Competition is one of the country's premier MBA venture capital competitions, and is hosted by students. Entrepreneurial teams from the best universities across the country take two, two-minute elevator rides with venture capitalists in hopes of selling them on a business plan. Winning teams are invited to make more detailed presentations to venture capitalists interested in funding projects and receive $50,000 in cash and consulting services. The 2008 competition marked the first time a second set of elevators was added specifically for socially minded entrepreneurs. Teams competed against each other, pitching ideas that solve a pressing social need based on the triple bottom line: economic, environmental and social.

The Kauffman/Angell Center National Entrepreneurial Case-Writing Competition features students who prepare and present original teaching case studies with teaching notes based on their internships in traditional or social entrepreneurship.

Family Business Center
Business School Housing? No
Number of Faculty: 3
Contact Name: Kathy Baker
Contact Email: kathy.baker@mba.wfu.edu

The Family Business Center was established in 1999 to address issues faced by closely held and family firms. It was the first program initiated under the Angell Center for Entrepreneurship at Wake Forest University. Utilizing the capabilities and educational resources available at Wake Forest, in our community and nationally, the Family Business Center provides closely held and family firms the assistance they need to grow and succeed from generation to generation.

The significant growth of the Family Business Center Triad generated extensive interest in opening an office to address the needs of closely held firms in the Charlotte Metro area. Wake Forest University, with its array of MBA program offerings, has served the Charlotte community since 1995 from the school's facilities at One Morrocroft Center in the city's South Park area.

The Family Business Center recognizes the many facets of closely held firms-- the multiple roles people can fill in family businesses, the multiple generations that often exist in family firms and the importance for closely held firms to connect with those within their company, as well as with other firms facing similar issues.

BB&T Center for the Study of Capitalism
Business School Housing? No
Number of Faculty: 3
Contact Name: Page West
Contact Email: westgp@wfu.edu

The purpose of the BB&T Center for the Study of Capitalism at Wake Forest University is to engage the university community and the public in a serious and sustained examination of capitalism and the many ways in which it impacts our lives. We will do this by encouraging the study of capitalism vis à vis competing economic systems, the philosophical foundations of capitalism, its impacts on society, and its relation to current social and political issues. Through improved understanding of these facets, the goal is to promote informed decision-making in business, government and society.

The BB&T Center for the Study of Capitalism at Wake Forest University was established in 2008 through a grant from the BB&T Charitable Foundation.

Black Business Students Association (BBSA)

BBSA club activities focus on increasing awareness of issues unique to students of different cultural, racial and ethnic backgrounds. Its members support diversity by sponsoring speakers and networking events, promoting community involvement and outreach, and remaining committed to excellence in both the business and academic environment. Through its affiliation with the National Black MBA Association, members can participate in conferences and case competitions. BBSA also organizes service projects and tutorial sessions for students. The BBSA has an ongoing relationship with Big Brothers/Big Sisters and coordinates participation of student teams in the annual Big Brothers/Big Sisters fundraiser for kids.

Entrepreneurship Club

The Entrepreneurship Club at the Wake Forest University Schools of Business exists to provide networking opportunities for business students interested in the following areas: New Venture Creation; Internal Corporate Venturing; Venture Capital; and Family Business. The club’s activities serve to foster an entrepreneurial spirit within the Schools of Business community and encourage the development of entrepreneurial skills that are important in all industries and career tracks. Club members may choose to participate in various regional and national entrepreneurship competitions, many with an emphasis in social and environmental impact such as Wake Forest’s own Elevator Competition.

Student Government Association (SGA)

The SGA is an elected student group formed to represent the student body. The Community Involvement Committee organizes volunteer events and fundraisers that allow students to make an impact in the local community. Highlights of annual SGA sponsored activities include a blood drive, holiday toy drive, spring charity auction and tutoring in local schools. Schools of Business students, faculty, and staff have a strong tradition of community service and each year donate thousands of dollars and countless hours to charitable causes.

Finance Club

Finance Club members are easing the difficult transition for youth leaving foster care to begin independent living. The Finance Club hosted four financial literacy sessions with the North Carolina Foster Care Independence LINKS program in 2010. LINKS helps teens successfully move from foster care to self-sufficiency. Budgeting, credit and interest rates, and taxes were among the financial literacy topics covered by the Finance Club.

Wake Graduate Women in Business (WGWIB)

Wake Graduate Women in Business (WGWIB) promotes and encourages the development of women as leaders and professionals. WGWIB sponsors activities throughout the school year to facilitate interaction between students, provide opportunities to network with alumni and working professionals, and encourage an environment of support and camaraderie among women at the Wake Forest University Schools of Business.

The group hosts an annual Women's Weekend at Wake Forest, bringing together students, alumni, women executives and potential students. In April of 2010, Women’s Weekend activities included a keynote address by Sandra Miller Jones, president and CEO of Segmented Marketing Services, Inc. Jones was one of the first African-American women to receive a MBA from Northwestern University and the first African-American woman manager at Quaker Oats.

Work-Life Balance was the topic of a panel discussion presented by Wake Forest alumni and local executives. Women’s Weekend also included a trip to the River Run Film Festival to see “Soap & Water” a documentary about women working at a dry cleaning operation in Hamburg, Germany. It concluded with “Cupcake Wars” - a casual, but competitive activity to foster teamwork and networking.

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A Closer Look at Trust Between Managers and Subordinates: Understanding the Relationships of Both Trusting and Being Trusted to Subordinate Outcomes.
Author(s): Holly H. Brower

Despite previous calls to examine trust from the perspectives of both the manager and subordinate, most studies have exclusively focused on trust in the manager. The authors propose that rust in the subordinate has unique consequences beyond trust in the manager. Furthermore, they propose joint effects of trust such that subordinate behavior and intentions are most favorable when there is high mutual trust. Findings reveal unique relationships of trust in manager and trust in subordinate to performance, organizational citizenship behavior (OCB), and intentions to quit. Furthermore, the interaction of trust in manager and trust in subordinate predicts individual-directed OCB in the hypothesized direction.

Journal Title: Journal of Management Volume: 35 Edition: 2 Page Numbers: 327-347
Accounting educators as the accounting profession's trustees: lessons from a study of peer professions
Author(s): Jack E. Wilkerson, Jr.

The past decade has been perhaps the most difficult period in the history of the accounting profession in the U.S. This challenging environment provides an opportunity for the accounting academy, acting as “trustees” for the integrity of the profession, to play a significant role in sustaining and enhancing the profession’s status as a profession. Generally, accounting educators play this role in two ways: through our practice-related scholarship and through our teaching. This paper draws on a recent comparative study of peer professions to offer insights to accounting educators as we seek to sustain the accounting profession specifically through our teaching. One key insight is that accounting education, as professional education, must be broadly formative, encompassing three broad spheres of professional preparation: technical knowledge, practice skills, and, of critical importance, normative purpose and professional identity. Other insights relate to the use of “signature images” of professional identity and “signature pedagogies.” Two specific recommendations are made: First, accounting students should be required to experience and reflect on the meaning and demands of professional accounting practice as a central, continuing feature of their accounting studies. And second, they should be required to participate in significant clinical learning experiences as part of their accounting studies.

Journal Title: Issues in Accounting Education Volume: 25 Edition: 1 Page Numbers: 1-13
Cultural Influences on Entrepreneurial Orientation: The Impact of National Culture on Risk Taking and Proactiveness in SMEs
Author(s): Pat H. Dickson

This study utilizes data from 1,048 firms in six countries to assess the impact of national culture and certain institutions that are representative of national culture on two key dimensions of entrepreneurial orientation: risk taking and proactiveness. Eight hypotheses are developed specifying the expected relationships between four cultural dimensions and levels of risk taking and proactiveness within SMEs. Additionally, two hypotheses are developed to explore between-country differences in the relationship between risk taking and proactiveness and a range of institutional variables. Uncertainty avoidance and power distance are both found to have a significant negative influence on risk taking; uncertainty avoidance, individualism, and power distance are found to negatively influence proactive firm behaviors. A number of institutional factors are also found to be significantly linked to between-country differences in both risk taking and proactive behaviors. This research contributes to existing theories of national culture by suggesting that the various dimensions of cultural values and several of the institutions that are representative of national culture impact the willingness of entrepreneurial firms to display risk taking and proactive behaviors.

Journal Title: Entrepreneurship Theory and Practice Volume: 34 Edition: 5 Page Numbers: 959-983
Independents' Day? Analyst Behavior Surrounding the Global Settlement
Author(s): Ajay Patel

In this paper, we examine the impact of NASD Rule 2711, NYSE Rule 472, and the Global Research Settlement on the recommendation performance of independent, affiliated, and unaffiliated analysts. We find that analysts from all three types of institutions issued fewer strong buys following these regulations designed to separate investment banking and equity research. Affiliated analysts were less likely to issue innovative recommendations. While downgrades became more prevalent following the regulations, they were significantly less informative. Independent research firms set up after the Global Research Settlement are of inferior quality; they issue more optimistic and less innovative recommendations that generate lower announcement period returns than independent firms existing prior to the Settlement. Our overall findings question whether investors will be better served via the shift in equity research to analysts at independent research firms.

Journal Title: Annals of Finance Volume: Edition: Page Numbers: Online First™ (only available in electronic print thus far)
Law and Executive Compensation: How the Legal System Affects the Equity Mix in Executive Compensation
Author(s): Ajay Patel; Rob Nash

We examine variation in relative use of equity-based compensation (equity mix) across firms from different legal environments by studying 381 non-U.S. firms from 43 countries during the 1996-2000 period. These firms are from countries that provide varying degrees of legal protection for shareholders. The data indicate association between equity mix and the degree of legal protection of shareholder rights. Specifically, firms use relatively more equity-based compensation if in a legal environment where shareholder rights are more strongly protected and where laws are more effectively enforced. These findings add to the literature demonstrating a relationship between institutional factors and financial decisions.

Journal Title: Financial Management Volume: 39 Edition: Spring Page Numbers: 393-418
Let the Response Fit the Scandal
Author(s): Michelle Roehm

A full-blown scandal can cause a company great turmoil, even if the organization isn't at fault. Crises easily extend beyond the original perpetrators, spilling over to other businesses along the value chain - and to those apart from the chain that resemble the guilty parties in some central way. For instance, the dairy, pet food, and toy-manufacturing scandals in China over the past few years have in many consumers' minds rendered all Chinese products suspect. Drawing on more than 10 years of research, marketing professors Tybout and Roehm have developed a framework for crafting just-right, just-in-time responses to scandals. They outline four important steps: assess the incident, acknowledge the problem, formulate a strategic response, and implement the response. The most effective approaches are carefully calibrated to the characteristics of the brand, the nature of the event, and the company's degree of seeming culpability. They can minimize brand damage and even, on occasion, provide firms with opportunities to deepen connections with customers.

Journal Title: Harvard Business Review Volume: 87 Edition: 12 Page Numbers: 82-88
The Impact of Organizational Climate on Reporting Behaviors in Information Systems Projects
Author(s): Ronald L. Thompson; Charles Iacovou

Without complete and accurate status information, a project manager's ability to monitor progress, allocate resources effectively, and detect and respond to problems is greatly diminished, and this can lead to impaired project performance. Many different factors can contribute to intentional misreporting of status information by project members to the project manager. In this study, the impact of organizational ethical climate was assessed through the analysis of responses from 228 project members drawn from a variety of ongoing information systems projects. Our results revealed that project members who perceived their organization to be one in which rules are followed strictly tended to misreport less, while those operating in an environment dominated by personal self-interest tended to misreport more. Somewhat surprisingly, the existence of a caring, team-spirited environment did not appear to have an impact on misreporting behaviors. Implications for researchers and project managers are discussed.

Journal Title: Journal of Business Ethics Volume: 90 Edition: 4 Page Numbers: 577-591
What IPO order flow reveals about the role of the underwriter in IPO aftermarkets
Author(s): F. H. Harris (Rick)

This article is in part about the duties of underwriters to disclose with integrity and not take advantage of one client at the expense of another.

Journal Title: International Journal of Managerial Finance Volume: 5 Edition: 1 Page Numbers: 16-49