Kelley’s Diversity Month begins with honoring first Consortium fellows, other notable alumni

Posted on April 5, 2021 by George Vlahakis

Eddie C. Brown, Milton Wilson and William G. Mays

BLOOMINGTON, Ind. – The Indiana University Kelley School of Business and its Full-Time MBA Program are kicking off Diversity Month with the dedication on April 9 of a new series of banners recognizing an accomplished group of alumni who have been part of the school’s history and efforts to be inclusive.

Students, faculty and staff and guests are invited to attend a ceremony via Zoom to dedicate the banners featuring successful alumni of color, including several fellows of the Consortium for Graduate Studies in Management, which Kelley helped to create. Those being honored, or in some cases a family representative, will be invited to speak.

“We wanted to do something visible that honored our history of diversity and the legacies of some of our notable alumni,” said Idalene “Idie” Kesner, dean of the Kelley School and the Frank P. Popoff Chair of Strategic Management. “One long-lasting impact was our decision in the 1960s to become a founding member of The Consortium, a group of universities and corporations that came together to encourage and support Black students — at the time, only men — to pursue an MBA so that we would have more diverse leadership in our nation’s companies.

“Since then, more than 900 Consortium students – men and women representing all underrepresented populations — have graduated from our MBA program, and many have given back to the program with their experience, leadership, and financial gifts,” said Kesner, who added that others being honored on banners are notable because they were “first” in some way or served the university on a larger level.

Kesner said future sets of banners will include women and alumni from other diverse backgrounds.

The theme for MBA Diversity Week will be “Unity in Diversity.” Highlights will include an alumni panel, “Becoming a Person of Influence,” and a panel event featuring several successful businesswomen, “Uplifting the Women Around You.” Chris Gardner, entrepreneur and author of the autobiographical book, “The Pursuit of HappYness,” which was adapted into a 2006 movie starring Will Smith, will speak to Kelley Full-Time MBA students on April 16. He also is the author of the 2009 book, “Start Where You Are,” and the forthcoming book, “Permission to Dream.” (more…)

‘They truly see you’: Students find family, inspiration to fight for social change in Kelley Office of Diversity Initiatives (KODI)

Posted on April 1, 2021 by Hannah Carroll

KODI advisors Carmund White, Maqubè Reese, and Jamie Gathing sit on a dock with water in the background.

From left: KODI advisors Carmund White, Maqubè Reese, and Jamie Gathing

The Kelley Office of Diversity Initiatives, or KODI, is more than an office at the Kelley School of Business. It’s often described as a family.

“The emotional support and sense of family at KODI is unlike anything I could’ve expected,” said Naomi Jackson, BS’22, a Fry Scholar who serves as Kelley Student Government’s director of equity and inclusion. “They know each student by name.”

“It’s really the one group of people that I can call, I can text, and I can rely on for anything,” says Jonah Katz, BS’21. “It’s the same way that your family at home, they’re the ones that you call for support. I feel like I have that through KODI.”

KODI supports all students in the Kelley Undergraduate Program, with a focus on recruiting, retaining, and advising historically underrepresented students. This includes students who identify as African American, Latino/Hispanic, American Indian/Native American, or Native Hawaiian/Pacific Islander.

“We’re here to support you, as you go through college, in every possible way,” says KODI Director Carmund White. “You will have an opportunity to have a mentor, you will have an academic advisor, you will have advocacy, you’ll have support.”

KODI has three advisors on staff: White, Jamie Gathing, and Maqubè Reese. They are available to help students plan their academic paths, answer questions, and explore ways to get involved with equity and diversity initiatives. Those initiatives include serving on KODI’s Student Advisory Board, becoming a mentor, planning diversity-focused events, or attending a webinar on allyship.

That support and guidance are especially important for students who don’t often see themselves represented on campus and in the business world.

“I struggle with identity,” says Marissa Munoz, BS’22, president of KODI’s Student Advisory Board. “KODI and Maqubè have been a huge help to me. I’ve learned you don’t have to fit in one bucket. There are many buckets,” she says.

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Health savings accounts often overlooked as a financial strategy for building personal wealth

Posted on March 30, 2021 by George Vlahakis

Piggy bank with stethoscope and calculator

BLOOMINGTON, Ind. – Many experts have praised health savings accounts – commonly known as HSAs – for providing a triple tax break. Money is deposited pretax, can grow tax-free and is not taxed when it is spent, as long you as the expenses are eligible. During the pandemic, they have become an important way to save for unexpected healthcare costs.

But for those graduating from college and beginning a new career, health savings accounts also can be the first key to accumulating wealth, according to a new article by Greg Geisler, clinical professor of accounting in the Indiana University Kelley School of Business.

“Employees beginning their career often wonder how to gain financial freedom as soon as possible. Options for part of their monthly paycheck not allotted to spending include investing and paying down debts,” Geisler said. “Articles in the financial press often recommend getting the maximum employer 401(k) match since it is essentially free money. But after that, the recommendations vary and there is little analysis of which recommendation maximizes wealth. No one is talking about health savings accounts.”

Writing in the current issue of the Journal of Financial Service Professionals, Geisler ranked the most tax-efficient financial moves that young people should make when beginning a career. His first two steps are to put the maximum into a health savings account and put enough into a 401(k) to obtain the greatest employer match.

“Ideally, these first two moves should be made together,” he said. “Even if your HSA doesn’t have an employer contribution, if you’re in the 22 percent tax bracket, where many new college graduates find themselves in, this health savings account will actually make you wealthier than a 50 percent employer match on your 401(k).”

“Retirement accounts have two tax advantages, but an HSA is the only account that has three.”

You can only set aside money in an HSA if you have high-deductible health insurance plan coverage, which is becoming the most commonly provided coverage offered by employers.

In the last year, the list of eligible health related expenses that can be paid or reimbursed for out of an HSA has expanded, now including over-the-counter medications. On March 26, the IRS also said that face masks, hand sanitizers and sanitizing wipes purchased to prevent the spread of COVID-19 were eligible.

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Kelley Direct program ranked fifth worldwide and No. 2 in the U.S. by the Financial Times

Posted on March 22, 2021 by George Vlahakis

BLOOMINGTON, Ind. – The Indiana University Kelley School of Business’ Kelley Direct Online MBA program continues to be recognized internationally for delivering a high-quality degree, backed by top-notch career services and respected faculty, according to new rankings from the Financial Times.

The UK-based business publication has ranked the program fifth worldwide and second among U.S. institutions, up one position from third a year ago.

Kelley Direct was ranked No. 1 overall in three factors used to develop the rankings – career services, program delivery and faculty research rank.

It also scored in the top five in two other categories – online interaction and corporate social responsibility – and in the top 10 for two other factors — career progress and value for the money.

“We are pleased to again be recognized by the Financial Times for the superior experience that we strive to offer students in our Kelley Direct Online MBA program,” said Idalene “Idie” Kesner, dean of the Kelley School and the Frank P. Popoff Chair of Strategic Management. “Recognition like this is especially meaningful when it reflects the quality of our efforts to prepare students for fulfilling careers and the solid, research-based education they receive from our faculty.”

Will Geoghegan

“The fact that we have been ranked consistently among the top online MBA programs in the world is a testament to all the hard work that our students, staff and faculty put in on a daily basis,” added Will Geoghegan, interim chair of the Kelley Direct program and clinical assistant professor of management and entrepreneurship. “We are very proud of the Kelley Direct program and we believe that continuous innovation and our focus on meaningful student outcomes pushes students to create positive momentum in their own organizations.”

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Thousands become more financially literate through courses offered by the Kelley School

Posted on March 16, 2021 by George Vlahakis

BLOOMINGTON, Ind. – More than 4,500 people so far have taken advantage of a free opportunity to enhance their financial literacy and learn more about personal finance through a series of online courses delivered by the Indiana University Kelley School of Business.

In October, the Kelley School announced a partnership with edX to offer a three-course, self-paced personal financial professional certificate. The courses provide the building blocks of planning for financial security and personal success, such as managing personal cash and credit and planning for risk and retirement.

Brian D. Jellison

Last year, the Brian and Sheila Jellison Family Foundation made a generous $16 million gift to the Kelley School in support of several programs. Part of this gift is being used to support the financial literacy program which allows learners to audit the three courses at no cost.

The Kelley School will soon make the program available, without charge, to about 500 IU student-athletes.

Idalene “Idie” Kesner, dean of the Kelley School and the Frank P. Popoff Chair in Strategic Management, said the school is thrilled that so many have taken advantage of this resource at a time when there has been so much economic uncertainty due to the pandemic.

“Current economic conditions are a reminder of why it is important for everyone to have a basic understanding of personal finance,” said Idalene “Idie” Kesner, dean of the Kelley School. “Learning how to manage your finances for today and tomorrow is an essential step in building a more secure financial future for yourself and your family.

“We are grateful to the Jellison Foundation for supporting this initiative. Their support makes this the gift that keeps on giving by helping all of us learn how to build a more secure financial future.”

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American Association for Physician Leadership partners with IU Kelley School of Business

Posted on March 15, 2021 by George Vlahakis

New partnership will deepen access to business knowledge for physician leaders

A new partnership between the American Association for Physician Leadership and the Indiana University Kelley School of Business aims to provide physician leaders with deeper access to business acumen that drives effective change in healthcare.

The American Association for Physician Leadership (AAPL) is the only association solely focused on providing professional development, leadership education, and management training exclusively for physicians. The Kelley School of Business is the only top-ranked business school offering a rigorous MBA exclusively for physicians. Together, the two are committed to training physicians in the business of medicine and equipping physicians to better strategize the best course forward for their patients, their healthcare organizations and their clinical teams.

“It is more important now than ever for physicians to be the driving force behind change in our healthcare system,” said Peter Angood, MD, President and CEO of AAPL. “This partnership provides a pathway for AAPL physician leaders to combine the practical knowledge we offer through coursework and conferences with the Kelley School’s national reputation, in-depth expertise and world-class faculty through the graduate-level curriculum offered in the Physician MBA Program.”

“We are thrilled to partner with AAPL, an organization whose mission so closely aligns with our own,” said Idalene “Idie” Kesner, dean of the Kelley School of Business and the Frank P. Popoff Chair of Strategic Management. “As more physicians seek to advance their business training, this partnership elevates the importance of educating physician leaders in the language of business. When they can speak to the business of healthcare—as well as the science of medicine—our alumni are prepared to lead effective change for their organizations, their patients and the wider U.S. healthcare system.”

The partnership provides new opportunities for both current and future AAPL members, including a reduction in Kelley Physician MBA course tuition for physicians who’ve completed AAPL’s Master’s Prerequisite Curriculum and access to the AAPL Capstone, the final requirement in fulfilling Certified Physician Executive (CPE) certification.

For more information on the partnership, as well as courses offered through AAPL and the Kelley Physician MBA Program, head here.

This announcement originally was announced by the IU Kelley School of Business at IUPUI.

Study of auto recalls shows carmakers delay announcements until they can ‘hide in the herd’

Posted on February 22, 2021 by George Vlahakis

BLOOMINGTON, Ind. – Automotive recalls are occurring at record levels, but seem to be announced after inexplicable delays. A research study of 48 years of auto recalls announced in the United States finds carmakers frequently wait to make their announcements until after a competitor issues a recall – even if it is unrelated to similar defects.

This suggests that recall announcements may not be triggered solely by individual firms’ product quality defect awareness or concern for the public interest, but may also be influenced by competitor recalls, a phenomenon that no prior research had investigated.

Researchers analyzed 3,117 auto recalls over a 48-year period — from 1966 to 2013 — using a model to investigate recall clustering and categorized recalls as leading or following within a cluster. They found that 73 percent of recalls occurred in clusters that lasted 34 days and had 7.6 following recalls on average.

George Ball

On average, a cluster formed after a 16-day gap in which no recalls were announced. They found 266 such clusters over the period studied.

“The implication is that auto firms are either consciously or unconsciously delaying recall announcements until they are able to hide in the herd,” said George Ball, assistant professor of operations and decision technologies and Weimer Faculty Fellow at the Indiana University Kelley School of Business. “By doing this, they experience a significantly reduced stock penalty from their recall.”

Ball is co-author of the study, “Hiding in the Herd: The Product Recall Clustering Phenomenon,” recently published online in Manufacturing and Service Operations Management, along with faculty at the University of Illinois, the University of Notre Dame, the University of Minnesota and Michigan State University.

Researchers found as much as a 67 percent stock market penalty difference between leading recalls, which initiate the cluster, and following recalls, who follow recalls and hide in the herd to experience a lower stock penalty.

This indicates a “meaningful financial incentive for auto firms to cluster following recalls behind a leading recall announcement,” researchers said. “This stock market penalty difference dissipates over time within a cluster. Additionally, across clusters, the stock market penalty faced by the leading recall amplifies as the time since the last cluster increases.”

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Kelley School hosts Big Ten event to encourage female and underrepresented professionals to pursue academic careers in business

Posted on February 18, 2021 by George Vlahakis

Jason Brown, left, is an associate professor of accounting at Kelley.

BLOOMINGTON, Ind. – A frequent issue facing American business education is a critical shortage of academically trained faculty members from underrepresented populations. To help address this issue, the Indiana University Kelley School of Business is hosting a webinar on Feb. 25 with the 14 business schools of the Big Ten.

The consecutive three-session virtual event, “Shape the Future of Diversity with a PhD,” will begin at 6:30 Eastern Time.

Dionne Nickerson

Nine faculty members and five doctoral students from underrepresented groups at Big Ten schools, including Dionne Nickerson, an assistant professor of marketing at Kelley, will discuss what it is like to pursue an academic career and the impact one can make on today’s students and tomorrow’s business leaders. In addition to Nickerson, another participant is associated with the PhD Project.

The three 30-minute sessions will focus on the benefits of pursuing a career in academia, what the academic career path entails and the steps to take for those who are interested. Those interested can attend any or all of the sessions. Registration is free and available at the program site at gokelley.iu.edu/phd.

Participation by women and those from underrepresented backgrounds is strongly encouraged.

The planning group for the event includes Rebecca Slotegraaf, chair of doctoral programs, professor of marketing and the Neal Gilliatt Chair. She notes that those who attend will learn how a career in academia can enable people to shape the future of business and how it can be multifaceted and fulfilling.

“One of the challenges we face is generating awareness and familiarity with a PhD in Business and an academic career. While people are generally aware of PhDs in the life sciences or social sciences, many are unaware that you can pursue a PhD in Business,” Slotegraaf said. “Most students earning a Bachelor’s degree in Business or an MBA seek employment in industry rather than academia. For many, the path toward a PhD and a career in academia remain opaque. (more…)

Pritzker Private Capital launches PPC University with IU’s Kelley School of Business

Posted on February 16, 2021 by George Vlahakis

CHICAGO – Pritzker Private Capital (PPC), a leader in family direct investing, today announced the launch of PPC University, a series of customized, graduate-level business education courses developed and presented in partnership with Kelley School of Business Executive Education at Indiana University.

PPC University courses will support the professional development of emerging leaders across the PPC family of companies. The program is guided by PPC’s longstanding commitment to partner with its companies, invest in its people and culture, and build successful businesses for the long term. PPC University is scheduled to begin instruction in March 2021.

“PPC University embodies our commitment to support the growth of our companies and invest in our talented team,” said David Gau, Partner and Head of Operations at Pritzker Private Capital. “As a family-owned business, we understand the importance of providing high-quality educational and professional development opportunities as we build a culture that upholds our core values of honesty, integrity and loyalty. We are pleased to launch PPC University alongside the exceptional educators at the Kelley School of Business.”

“We’re honored to work with Pritzker Private Capital in developing this important initiative,” said Idalene Kesner, dean of the Kelley School and the Frank P. Popoff Chair of Strategic Management. “The business world is always evolving, and we’ve been an experienced leader in helping businesses and professionals grow along with it for more than 40 years. It’s always exciting to see where the extra momentum takes people, and we’re looking forward to working with the future leaders in the PPC family.”

PPC University will offer tailored courses designed and taught by Kelley School faculty. Courses will focus on five specialty areas: modern marketing, finance, operations, and data analytics, leadership and people management. Each course will feature eight virtual lectures over the course of a month, taught by Kelley School professors with select PPC leadership participating as guest lecturers. At the conclusion of the program, participants will receive a certificate for their participation. (more…)

Prebys Scholar is first IU student chosen for prestigious program for African American men

Posted on February 12, 2021 by George Vlahakis

Zachary Harper

WASHINGTON — Zachary Harper, an accounting major at the Indiana University Kelley School of Business and a Conrad Prebys Scholar, been chosen by the Institute for Responsible Citizenship to participate in its prestigious program during the summers of 2021 and 2022.

The Institute is an intensive two-summer program for some of America’s best and brightest African American male college students. The scholars live together in a residence hall, work at internships in their fields of interest, participate in a rigorous seminar on economic and constitutional principles, meet privately with prominent public and private sector leaders, participate in personal and professional development workshops, and enjoy a variety of social activities.

Admission into the Institute is extremely competitive. The newly-selected scholars represent a range of backgrounds and interests and attend a variety of colleges and universities, including Harvard and Yale universities, the University of Chicago, Howard University and New York University.

Harper is the first IU student ever selected to participate since the Institute was established in 2001.

(more…)

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