Kelley expert: Gift cards are a likely present this holiday season, due to supply chain issues

Posted on November 19, 2021 by George Vlahakis

BLOOMINGTON, Ind. – Amid supply chain issues resulting in emptying store shelves, the most common present under the Christmas tree this year may be a gift card, according to a retail expert at the Indiana University Kelley School of Business.

“Everything I have read says there’s plenty of demand. I wonder what it’s going to get spent on,” said John Talbott, director of the Center for Education and Research in Retailing at Kelley. “I think this is the year of the gift card for many retailers.

John Talbott

“Companies like Target, Walmart, and Amazon have been able to use their scale and influence to overcome some of the supply issues that we all are experiencing. Target’s CEO was adamant in stating the their shelves will be full and ready for customers during the most recent earnings call from the company. Still, I expect that there will still be specific items that will not be available, which makes gift cards a strong alternative to capture the consumers demand without having the specific item.

“I got on Home Depot’s website just the other day and the first thing they showed were gift cards,” Talbott added “So, I’m wondering if store management is already having these discussions, that ‘if we don’t have what they want, we’ll have it for them later. Let’s make sure they buy a gift card instead.”

Interestingly, if that is the approach of these publicly traded retail companies, they better talk to Wall Street, because gift card purchases won’t count as a sale from an accounting standpoint. Of course, stores will get that sales revenue later when consumers use the gift cards and it may be even more profitable because a significant percentage of gift cards are never used.

“If there’s a 5 or 6 percent shift to gift card purchases instead of physical items, that’s a 5 percent reduction in sales,” he said. “It’s going to be an interesting thing to keep an eye on and how the financial communications arms of these big public companies make sure Wall Street is aware that demand is being captured, just not reported as a sale.”

While adults may appreciate that a gift card represents money that can be spent at a future time, Talbott understands that message will not be cheerfully received by many children. He suggests that parents need to explain the concept of patience and perhaps consider spreading their gift giving throughout the “12 Days of Christmas” and not just on Dec. 25.

“If it were my kids, I would be managing expectations,” Talbott said.

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Sexual harassment and workplace culture is focus of next Equity Now event Nov. 8

Posted on November 2, 2021 by George Vlahakis

BLOOMINGTON, Ind. — Leora Eisenstadt, associate professor of legal studies and the Murray Shusterman Research Fellow at Temple University’s Fox School of Business, will be the next presenter in Equity Now, a national online speaker series on race, gender, and how law and policy can facilitate equality, fairness and inclusion in organizations.

Eisenstadt will lead a discussion on the topic, “#MeToo and Beyond: Sexual Harassment and the Future of American Workplace Culture,” which will begin at 6 p.m. (Eastern) on Monday, Nov. 8.

The Kelley School of Business is co-sponsoring the Equity Now series along with the business schools at the University of Connecticut, Virginia Tech University, Temple University and the Academy of Legal Studies in Business. Registration is free and open to the public.

Speakers featured in the Equity Now series are esteemed business lawyers focused on legal and policy issues and how law and policy can promote diversity, equity and fairness in organizations and society.

In 1986, the Supreme Court defined sexual harassment in a case called Meritor Savings Bank v. Vinson, which involved allegations of coerced sexual intercourse. Beginning in 2017, the #MeToo Movement again focused attention on the role sexual harassment plays in the workplace and society more generally with a flood of allegations against figures in media, government, Hollywood, and corporate America.

Now, almost five years later, we can begin to reflect on the ways in which this movement altered or left intact workplace norms and the role of the law in making progress or hindering it. Eisenstadt will review the legal history and theory of sexual harassment, explore the implications of the #MeToo Movement, discuss recent efforts to use technology to detect and prevent harassment, and provide recommendations for business leaders to create healthy workplace cultures.

Prior to joining the faculty at the Fox School, Eisenstadt spent two years as a Freedman Teaching Fellow and lecturer in law at Temple University’s Beasley School of Law. Her areas of scholarship and interest include employment law, business law, law and linguistics, work-family conflict, sex discrimination, race and the law and public policy.

Eisenstadt received her J.D., cum laude from New York University School of Law and her B.A. in History, cum laude from Yale University. In 2003-04, she was a Fulbright Fellow in Israel studying sex equality and the development of Israeli equal employment opportunity law. She served as a law clerk to the Honorable R. Barclay Surrick in the Eastern District of Pennsylvania and spent several years in the Labor & Employment Group at Dechert LLP litigating cases and counseling clients in employment discrimination issues, general employment matters and Title IX-related litigation.

U.S. News ranks IU, Kelley faculty research activities as among most impactful worldwide

Posted on October 28, 2021 by George Vlahakis

BLOOMINGTON, Ind. – Indiana University, the Department of Economics in the College of Arts and Sciences and the Kelley School of Business rank 24th worldwide and 14th nationally in U.S. News & World Report’s rankings of “Best Global Universities for Economics and Business.”

Unlike U.S. News’ other rankings of degree programs, this ranking primarily ranks business schools on the basis of faculty research and academic reputation. Methodology included measurements of papers that are among the top 1 percent cited, regional and international research reputation and number of publications by faculty.

In addition to the overall rankings, our economics and business research ranked:

Third overall in terms of programs at public U.S. universities and No. 1 in Indiana.
Third among Big Ten universities (Michigan, 12^th; Northwestern 14^th)
12th worldwide in the number of highly cited papers that were among the top 1 percent most cited
14th worldwide in the number of publications that are among the 10 percent most cited
16th worldwide in terms of the percentage of total publications that are among the 10 percent most cited
18th worldwide in total citations
21st worldwide in normalized citation impact
23rd worldwide in percentage of highly cited papers that were among the top 1 percent most cited

Idalene “Idie” Kesner

“This ranking reflects the meaningful and remarkable contributions that Kelley School faculty make each day to broadening knowledge and understanding through their research activities and their collaborations with colleagues worldwide,” said Idalene “Idie” Kesner, dean of the Kelley School and the Frank P. Popoff Chair of Strategic Management.

“In addition to these rankings, we hear from corporate partners who comment on how often our professors across business disciplines inform their companies’ strategies and operations and contribute to their success,” Kesner said. “And because faculty members’ research often is integrated into the courses they or others teach, their work ensures our students stay on the cutting edge, preparing students to add value right away in their careers.”

Rick Van Kooten, executive dean of the IU College of Arts + Sciences and professor of physics, noted the broad scope of economic understanding fostered among faculty in the Department of Economics.

Rick Van Kooten

“The Department of Economics in the College of Arts and Sciences prides itself on the quality of its cutting-edge research and graduate education. It is internationally recognized for its frontier research in areas such as macro- and monetary economics, financial econometrics, experimental economics, and international trade,” Van Kooten said. “The department maintains close connections to the Kelley School of Business in faculty research as well as graduate and undergraduate education. These deep connections exemplify the collaborative engagement between the College and KSB.”

The new rankings of business and economics programs were issued Oct. 26 with U.S. News’ Best Global Universities Rankings and IU was ranked 141^st among 1,750 top universities across Africa, Asia, Australia/New Zealand, Europe and Latin America and from more than 90 countries. Other subject rankings of IU programs included 39^th overall for Arts and Humanities and 67^th worldwide for social sciences and public health and for psychiatry/psychology.

Remembering a remarkable Kelley alumnus, affectionately known to many as Khun Chai

Posted on October 27, 2021 by George Vlahakis

Mom Rajawaongse Disnadda Diskul

Editor’s note: This is a guest blog written by Fred Perry and Peter Boonjarern.

BLOOMINGTON, Ind. — Indiana University, its Kelley School of Business and, most importantly, the Kingdom of Thailand said goodbye to a modern-day hero, IU alumnus and friend, Mom Rajawongse Disnadda Diskul.

Affectionately known to those who knew him well as “Khun Chai,” the 1964 Kelley alumnus was and remains a part of an incredible legacy and long-lasting relationship between Thailand and IU. He died on Oct. 18. Funeral rites ran until Oct. 25 and a royally sponsored cremation ceremony took place on Oct 26.

To former IU men’s soccer coach Jerry Yeagley, he was known simply as “Chai” when he was the team captain for the first team he coached. Through all of Coach Yeagley’s NCAA Championship teams, Khun Chai set the bar for leadership and the fighting spirit that he held his players to and his legacy lives on today almost 60 years later. Coach and player had a memorable reunion in Bloomington in 2016, which was presented in a mini-documentary that can be watched online.

As a Kelley (before the school was named for another impactful alumnus, E.W Kelley), Khun Chai embodied what we say about our students today. He had the talent to succeed, the humility to grow and the tenacity to persevere.

It was here that Khun Chai said he “learned how to fail, how to win and then learned how to redo and redo and redo … (and) never ever stop. That made a fighter out of me.” (more…)

Kelley prof: Doctors should rely less on ‘mental shortcuts’ when deciding patient care

Posted on October 18, 2021 by George Vlahakis

Colby discussed findings that delivering physicians are influenced not just by the indications of the current patient but also by the outcome of their most recent previous delivery.

INDIANAPOLIS, Ind. – Algorithms and analytics are now common used by professional sports, in sales forecasts, lending decisions and by car insurance providers. Managers and other decision makers no longer simply “go with their gut.” But doctors often remain reluctant to introduce such information when making medical decisions for patients.

In an article published in Science, Helen Colby, an assistant professor of marketing at the Indiana University Kelley School of Business in Indianapolis, and a co-author note that it is time for many doctors to stop relying on their use of mental shortcuts, usually called decision rules or heuristics, when making decisions about patient care with limited cognitive resources.

Helen Colby

Colby, who researches health decision-making, and Meng Li, an associate professor and director of undergraduate studies in the Department of Health and Behavioral Sciences at the University of Colorado Denver, were invited to provide commentary on a paper also published in Science by Manasvini Singh, an assistant professor of health economics at the University of Massachusetts.

Colby and Li’s article, “Physicians’ flawed heuristics in the delivery room; Complicated childbirths can influence later decision-making,” also appears in the Oct. 15 edition of the journal.

Using electronic health records of more than 86,000 deliveries, Singh found that delivering physicians were influenced not just by the indications of the current patient but also by the outcome of their most recent previous delivery. For example, when a physician experienced a negative outcome with a vaginal delivery they were more likely to choose to deliver the next baby by cesarean section and vice versa.

“Most of the time, the heuristics do save time and resources and they produce pretty good outcomes. But in some situations, pretty good is not good enough,” Colby said. “When lives are on the line, any improvement in decision making can have life-saving consequences.”

Colby and Li highlight that a “win-stay-lose-shift” heuristic has been identified in other contexts as a learning strategy, but said it only works well in certain settings.

“In the medical context, this heuristic would be rational only if the specifics of the prior patient matched the specifics of the current patient and thus provided a useful learning experience. In that case, if one patient’s delivery went wrong, it can tell the physician that the same delivery plan may not work well with another patient with very similar characteristics and indications,” they wrote. “However, two patients who happen to have consecutive deliveries by the same physician are not expected to be highly similar.”

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Students and faculty at IU and Kelley build home with Whirlpool and Habitat for Humanity

Posted on October 11, 2021 by George Vlahakis

BLOOMINGTON, Ind. – After a year’s hiatus due to Covid-19, students, faculty and staff from Indiana University and the Kelley School of Business are building a new home with a Bloomington family through Habitat for Humanity of Monroe County, with support from Whirlpool Corporation.

This year’s Habitat build is especially meaningful and distinctive in several ways. This will be the largest house built by IU and Kelley students since Whirlpool Corporation – a key corporate supporter and recruiter of students from the Kelley School – began a partnership with Habitat for Humanity International to construct homes in Monroe County in 2010.

The 11th Whirlpool-Kelley-Habitat Blitz Build also will kick off a world tour that will provide more than $6 million in funding and home appliances to Habitat organizations worldwide. This will be one of the first Whirlpool home builds since the start of the pandemic.

In the past, the Habitat blitz builds took place across 17th Street from the IU Athletics complex. Ten single-level homes were relocated to permanent locations across Bloomington weeks after being dedicated. This year, a two-story, five-bedroom house for a family of seven will be constructed on its foundation at Osage Place, Habitat’s third neighborhood in Monroe County, located on the city’s south side.

Home owners Veronica Marquez-Tecpanecatl and Javier Linares-Arizmendi and their five children

On Oct. 12 and 13, students, faculty and staff will build wall components for the house in Dunn Meadow on the IU Bloomington campus, before construction shifts to the build site on Oct. 14-16 and Oct. 26-30.

Many students participating in the build are involved with the Kelley Institute for Social Impact, which serves as a hub within the school for socially-conscious undergraduate students who want to make a difference in local and global communities through education, service, career development and leadership opportunities.

“This Blitz Build is one of my favorite events at Kelley, and I enjoy volunteering each year alongside Kelley students and staff, Whirlpool representatives, the wonderful people from Habitat for Humanity and the future homeowners,” said Idalene “Idie” Kesner, dean of the IU Kelley School of Business and the Frank P. Popoff Chair of Strategic Management.

“Whirlpool is an excellent example of a company that strives to make a difference in communities around the world. We appreciate the opportunity for our students to see Whirlpool’s model up close, providing them with a real-world experience of seeing social and environmental responsibility in action, while helping a family attain their dream of home ownership,” Kesner added.

More than 2,300 IU students, staff, faculty and alumni have come together to build the previous 10 homes alongside Monroe County families.

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Kelley professor and student social entrepreneur to discuss making business a force for good

Posted on October 6, 2021 by George Vlahakis

Sankalp Sharma

BLOOMINGTON, Ind. – What drives social entrepreneurs to make business a force for good?

An Indiana University Kelley School of Business professor who is one of the world’s leading researchers on social entrepreneurship will sit down for a conversation with a current Kelley student whose NGO focuses on sustainable development in 10 countries and involves about 9,500 “young changemakers.”

Sophie Bacq, associate professor of entrepreneurship and a faculty fellow in the Institute for Entrepreneurship & Competitive Enterprise, will speak with Sankalp Sharma, founder of the Sachh Foundation, an organization that has received the attention of the Obama Foundation and received many honors and awards

The live webinar – presented at 4 pm on Oct. 13 — is one of several events being held this fall at IU on the theme, “Business Doing Good.” After the discussion, Bacq and Sharma will take questions. Registration is free and open to the public.

Sophie Bacq

Bacq, who joined the Kelley faculty in 2019, is leading scholar in social entrepreneurship. In her research, she investigates and theorizes about entrepreneurial action aiming to solve intractable social and environmental problems, at the individual, organizational and civic levels of analysis. She has taught and conducted empirical research on the topic in Europe, the United States and South Africa and her research has been published in the top management and entrepreneurship journals.

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A lasting legacy: Kelley’s Full-Time MBA Program welcomes its 55th class of Consortium fellows

Posted on October 5, 2021 by George Vlahakis

Group photo of members of the 55th Class of Consortium Fellows

Kelley members of the 55th Class of Consortium Fellows

BLOOMINGTON, Ind. – The Indiana University Kelley School of Business this fall welcomed 18 MBA students who are members of its 55^th class of Consortium for Graduate Study in Management fellows.

Better known as The Consortium, the national organization co-founded by the Kelley School in 1966 enhances diversity in business education through merit-based support and mentoring for African American, Hispanic and Native American students. It has encouraged more than 10,000 men and women of color to earn a graduate business degree, including more than 950 who have earned Kelley MBAs with support through the Consortium.

Natalia Corredor

Among the new students at Kelley this fall is Natalia Corredor, recipient of the Consortium’s 2021 Wallace L. Jones Fellowship, which is awarded to Consortium fellows with good character, who have demonstrated abilities toward future potential. She is the eighth Kelley MBA to be so honored since the fellowship was established in 1996 in recognition of the organization’s second director.

Corredor, a native of Colombia who came to the United States as a child and is also a Forté Foundation Fellow, said that receiving the Jones Fellowship served as validation that pursuing an MBA was the right decision.

“As a career switcher, I have a lot of insecurities when it comes to selling myself as the professional the MBA will help me become versus what I can contribute today,” she said. “Receiving the Wallace L. Jones Fellowship means that the Consortium sees ‘evidence of talent, achievement, and good character’ in me, and that gives me the extra confidence boost I needed to tackle both the MBA program and recruitment.

“My goal is to work for a technology-forward company that provides leadership opportunities and puts people before profit. I’m unsure about the specific function I’m targeting, but I’m interested in exploring business transformation roles, product management roles, and leadership development programs,” she added. “I know that the Kelley program plus my determination to excel equals a recipe for success.”

A Kelley graduate encourages other Consortium fellows to pay it forward

At the Consortium’s annual orientation in mid-June, Corredor was introduced to just one Kelley example of this recipe’s outcome. Darrell Farlough, a global procurement leader at a leading multinational energy company, was one of the presenters.

Darrell Farlough

A Louisiana native and the son of a carpenter and a stay-at-home mom, Farlough graduated from Kelley with an MBA in marketing and international business in 1993 and was a Consortium fellow. Before, he had been working as a business process control engineer at IBM and had earned a bachelor’s degree in physics from Dillard University, an HBCU based in New Orleans, and a bachelor’s degree in mechanical engineering from Columbia University.

“I started taking graduate business courses part-time after a year at IBM,” Farlough said. “Then I heard about the Consortium and I applied and was accepted. I’ll never forget that day.”

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Five Kelley School alumni being honored for their professional achievements on Oct. 9

Posted on September 30, 2021 by George Vlahakis

BLOOMINGTON, Ind. – Five alumni of the Indiana University Kelley School of Business will be honored for professional achievement during the 2021 Kelley Alumni Awards Ceremony on Oct. 9 at IU Bloomington.

“It is always an honor to recognize accomplished Kelley alumni who have left their marks in their communities and at their companies,” said Idalene “Idie” Kesner, dean of the Kelley School and the Frank P. Popoff Chair of Strategic Management.

“These five people have distinguished themselves in their careers through their personal talents and their professional achievements, and they have helped distinguish our school as well,” Kesner added. “Thanks to their various means of support, we are able to offer the best educational experience inside and outside the classroom and remain among the most innovative business schools in the world.”

Being named to the Kelley School of Business Academy of Alumni Fellows are: (more…)

Kelley professor to discuss ‘racial equity in a colorblind world’ at Equity Now event

Posted on September 28, 2021 by George Vlahakis

BLOOMINGTON, Ind. — Goldburn P. Maynard Jr., assistant professor of business law and ethics at the Indiana University Kelley School of Business, will be the next presenter in Equity Now, a national online speaker series on race, gender, and how law and policy can facilitate equality, fairness and inclusion in organizations.

Goldburn Maynard

Maynard will lead a discussion on the topic, “Biden’s Push for Racial Equity in a Colorblind World,” which will begin at 6 p.m. (Eastern) on Tuesday, October 12.

On his first day in office President Joseph Biden issued an executive order to advance racial equity in communities through the federal government. As part of those efforts, the American Rescue Plan Act of 2021 directed the Department of Agriculture to implement a loan forgiveness program for farmers who had been harmed by decades of systematic discrimination.

Justice advocates applauded the move — which Maynard saw as major racial policy shift — but their hopes were quickly dashed when federal courts put a stop to the program.

“Despite the intent of the legislative and executive branches, courts have signaled that any race conscious efforts to remedy past injustices are on shaky ground,” said Maynard, who will discuss whether racial equity can be achieved with these limitations in place.

Maynard, who joined the Kelley faculty in 2020, teaches classes in business ethics. He previously served as an associate professor (untenured) at the University of Louisville Brandeis School of Law. He is a graduate of the University of Chicago Law School, and also received an LL.M. in Taxation from the Northwestern University School of Law. His research focuses on issues of wealth distribution and inequality, tax policy, and America’s aging population. He is also interested in how the brain works and how best to approach teaching.

He also has been a visiting assistant professor at Florida State University College of Law and Washington University School of Law. Before entering law teaching, he worked as an estate tax attorney for the Internal Revenue Service. He began his career as a tax associate at Skadden, Arps, Slate, Meagher & Flom, at its Chicago offices.

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