Kelley School’s Fry Scholars Program marks its 10th anniversary

Posted on September 18, 2018 by George Vlahakis

Marking a 10th anniversary, Indiana University’s Kelley School of Business has announced its largest class of William R. Fry Scholars. Thirty-two incoming freshmen have been selected as Fry Scholars.

Entering freshmen who applied to IU and were directly admitted to the Kelley School were eligible. Preference is given to students who are traditionally underrepresented in the field of business.

Students receive funding toward standard tuition and fees. They also receive support in the form of an advisor and a Kelley student mentor during their time at IU. They also have the option of residing in the Kelley Living Learning Center, a residential program that focuses on personal, academic and professional development. Each program has its unique events.

The Fry Scholars program is made possible through a $15 million gift in 2008 from the late William R. Fry, a Kelley alumnus. The gift and resulting program are helping the Kelley School pursue a major initiative toward more inclusiveness and increased enrollment of underrepresented minorities.

When making the gift, Fry said that he especially liked the impact that his Kelley School gift would have on young minds.

This year’s Fry Scholars, their high schools and their hometowns are: (more…)

IU Kelley School of Business announces Dean’s Council Scholars

Posted on September 18, 2018 by George Vlahakis

Indiana University’s Kelley School of Business has announced its Dean’s Council Scholars.

Chosen from among all entering freshmen who applied to IU and were directly admitted to the Kelley School, 16 incoming freshmen are Dean’s Council Scholars. Preference is given to students who are traditionally underrepresented in the field of business.

The Dean’s Council Scholarship was created in 2015 out of a shared aspiration of the Kelley School’s dean and Dean’s Council to pool their philanthropic resources to sustain and enhance the school’s diversity efforts, which includes students from all different economic backgrounds as well as students from diverse cultural backgrounds.

The Kelley Dean’s Council is composed of over 150 CEOs, vice presidents and business leaders who represent all ranges of industry. It advises on institutional goals, school strategies, and curricula. The council is also actively involved with long-term goal planning for the school and offers input on research, fundraising and the creation of new programs.

This year’s Dean’s Council Scholars, their high schools and hometowns are:

(more…)

Journal Impact Factor ratings indicate that Kelley School’s Business Horizons journal is rising in prominence among scholars

Posted on July 9, 2018 by George Vlahakis

Business Horizons, an academic journal published by Indiana University’s Kelley School of Business, has seen a big gain in the Thomson Reuters Journal Impact Factor ratings, which measure how often academic journal articles are cited by scholars and researchers.

The Journal Impact Factor ratings are one the most widely used measures of a publication’s impact. They provide quantitative data that readers, editors, and publishers can use to discern the effect that a journal has, compared to similar publications.

The new Impact Factor rating for Business Horizons was 2.588, up from 1.088 two years ago and 0.809 in 2011, when they were established. They are calculated by dividing the number of scholarly items counted in the denominator by all of the citations that a journal has accumulated in the numerator.

“Over the past six years, the journal’s impact factors have experienced a remarkable growth trajectory,” said Dan Li, Business Horizon’s editor, the L. Leslie Waters Chair in International Business and a professor of international business at Kelley. (more…)

Eleven top students chosen as Kelley Scholars

Posted on June 12, 2018 by George Vlahakis

Eleven incoming Indiana University freshmen from across the Hoosier state have been selected as Kelley Scholars at the Kelley School of Business.

The Kelley Scholars, who intend to major in business at IU Bloomington, will receive standard tuition and fees, a stipend for living expenses and funding for academic activities such as overseas study.

The Kelley Scholars Program is funded by a multi-million-dollar gift from E.W. “Ed” Kelley and his family, made to IU in the fall of 1997. The university named its school of business for the Kelley family in acknowledgment of the gift.

This year’s class of Kelley Scholars was selected from a group of top students admitted to IU, who were invited to apply for the program because of their outstanding academic records. The application included references, a high school transcript, several personal statements on a variety of topics and an essay.

The 2018-19 Kelley Scholars are:

(more…)

Opioid misuse costs Indiana over $4 billion annually, or $11 million daily, IU study finds

Posted on May 14, 2018 by George Vlahakis

Backlit white pills - Opioid and prescription medication addiction epidemic or crisis - concept

BLOOMINGTON, Ind. — Over the past 15 years, the number of opioid overdose deaths in Indiana has risen by more than 500 percent, while misuse of these drugs has cost the state a total of $43.3 billion, according to research from Indiana University.

In addition to the human cost, economic damage from the misuse of opioids in Indiana cost $4.3 billion last year and will exceed $4 billion again this year — or about $11 million each day.

Direct costs are expected to top more than $1 billion in Indiana in 2018. Gross state product losses from the accrual of deaths in Indiana will likely exceed $1.25 billion, and another $1.75 billion will be lost due to underemployment attributed to misusers.

Kayla Freeman

Ryan Brewer, associate professor of finance at Indiana University-Purdue University Columbus, and Kayla Freeman, a doctoral candidate in finance at the IU Kelley School of Business, studied the opioid epidemic’s impact on state and local economies, the labor market and health care providers in a special issue of the Indiana Business Review, published by the IU Kelley School of Business’ Indiana Business Research Center.

Their research includes recommendations for future actions by state officials. Most of the findings in this release come from their article, “Cumulative economic damages from 15 years of opioid misuse throughout Indiana.”

More than 12,300 state residents are estimated to have died from 2003 to 2017 due to opioid overdoses — nearly the same number of people who live in Pike County in southern Indiana.

Opioid addiction can hinder or prevent misusers from finding employment or being part of the labor market, which then leads to reduced gross state product. Lost gross state product has gone from zero in 2003 to $1.72 billion in 2016 — nearly double the $926 million loss from the year before.

Potential lost wages due to opioid misuse totaled $752 million in 2016.

“While it is true the entire nation has been mired in the crisis, only a handful of states — including Indiana — have been struggling with the epidemic while also facing an increasingly tight labor market, which challenges our hopes of realizing strong post-recessionary growth in an economy where labor is increasingly difficult to find,” Brewer said.

Brewer and Freeman examined opioid-related costs to families, hospitals and government agencies across Indiana. Among their findings:

Non-lethal opioid overdoses cost over $224 million in hospitalization costs in 2016 alone, with an additional $297 million in other opioid-related hospital stays.
More than $40 million is spent annually for rehabilitation costs.
The cost of drug arrests and court costs exceeds $13 million annually, and costs of incarceration have reached more than $70 million each year.
The previous health care costs do not include the state’s 578 youngest victims: infants born with neonatal abstinence syndrome, who experience withdrawal symptoms after losing access to their mother’s drugs after birth. The researchers estimate that total marginal costs for neonatal abstinence syndrome births totaled more than $36 million in 2016.
As of 2016, an estimated 5,243 Hoosier children were in foster care due to parental opioid misuse (a more than 600 percent higher increase from 2003).
Total funeral costs for victims of opioid overdose deaths rose from $1.2 million in 2003 to $7.1 million in 2016.

“Indications from national and local sources suggest communities across the country and within Indiana continue to experience worsening conditions and increasing numbers of misuse cases,” Brewer and Freeman write.

This research contributes to IU’s efforts to address the addictions crisis. IU’s Grand Challenge initiative Responding to the Addictions Crisis brings together its world-class faculty, as well as its business, nonprofit and government partners to create a comprehensive plan to reduce deaths from addiction, ease the burden of addiction on Hoosier communities, and improve health and economic outcomes. This collaborative, statewide initiative is the nation’s largest and most comprehensive university-led response to the opioid addiction crisis.

Kelley professor’s new book ‘actively’ advocates the role of economics within today’s analytics boom

Posted on March 27, 2018 by George Vlahakis

Over the last 15 to 20 years, companies have bought into the notion that they could use computing power, data and analytics to discern more about their customers, operational efficiencies and the markets. But, as they say, numbers don’t always tell the story.

Jeffrey T. Prince, professor and chairperson of business economics and public policy at Indiana University’s Kelley School of Business, says reasoning and logic are often left out of the equation.

“And that really should be the foundation for all of this,” said Prince, author of the new book, “Predictive Analytics for Business Strategy: Reason From Data to Actionable Knowledge,” published by McGraw-Hill.

He noted that predictive analytics frequently is used to track consumer patterns and then evaluate data to determine future consumer behavior. “That’s the creepy part of analytics, where we can see what you’re up to and make accurate predictions about what’s going on or what you’ll do,” he said.

It’s what Prince calls “passive prediction.”

(more…)

New $14 million Conrad Prebys Career Center actively being used by students, including Kelley Direct Online MBAs

Posted on March 12, 2018 by George Vlahakis

The Conrad Prebys Career Services Center won’t be formally dedicated until March 23, but it’s been an active place for all students in the IU Kelley School of Business and corporate guests since the beginning of the spring semester.

This includes the 102 second-year Kelley Direct Online MBA students on campus March 3-9 for Kelley Connect Week, who met there with their Graduate Career Services coaches and took advantage of other resources offered at the school’s new $14 million Prebys Center.

The sessions were part of Kelley Direct’s comprehensive professional development program, which helps distinguish it from other online MBA programs. Having the new Prebys Center adds to the students’ experience, said Stephanie Gray, associate director of career services and professional development and one of the career coaches at Kelley.

“We have a wonderful facility,” Gray said. “I think the main differentiator between us and other online degree programs is that we are not taking the online student population and putting them aside. They are in the same building. They go to the same front desk. They go to the same coaches that our in-residence students go to.”

Spencer Hickman, of Chicago and a senior associate brand manager for a beverage company, agrees. “Having this as a resource as part of the online MBA has the opportunity to be extremely helpful,” he said. “Anything that can be done to integrate the online program with the residential program has the potential to increase the impact for Kelley Direct students.” (more…)

Kelley Direct Online MBA ranked second in the U.S. and fourth worldwide by the Financial Times

Posted on March 5, 2018 by George Vlahakis

The Financial Times, the world’s leading global business publication, today provided further proof of why more professionals are seeing value in the Kelley Direct Online MBA, ranking the program fourth worldwide and second among U.S. institutions.

The program, one of several top-rated offerings of the Indiana University Kelley School of Business, moved up three positions in the Financial Times’ overall rankings – from seventh a year ago.

In addition to academic quality – the Financial Times ranked the Kelley school No. 1 in terms of research – students are attracted to the program’s relevance, flexibility, and personal approach, said Ramesh Venkataraman, chair of Kelley Direct MBA and MS programs and the John R. Gibbs Professor of information systems.

“These rankings are just one indication of Kelley Direct’s commitment to deliver high-quality courses and content while providing value to students in many ways,” said Venkataraman, who also serves as the Kelley School’s associate dean of information and instructional technologies. “While most coursework is done online, we provide our students with many opportunities for collaboration that offers them with a practical worldview and with global connections that are essential in business today.

“For example, many of our students choose to take advantage of our Accelerating Global Immersion Leadership Education (AGILE) program, which takes them abroad to work with a fledgling company in an emerging economy, giving them a more global perspective,” he said. “Our students have told us that their experiences in Thailand, South Africa, Cuba, and elsewhere help to distinguish them from others when seeking further career advancement.” (more…)

New MS in Finance degree meets the needs of professionals with liberal arts, science, engineering and informatics backgrounds

Posted on February 20, 2018 by George Vlahakis

A new master’s degree from IU’s Kelley School of Business is designed to meet the needs of many young professionals with backgrounds in the liberal arts, engineering, informatics, the sciences and other careers featuring technical analysis and critical thinking skills.

Kelley’s new Master of Science in Finance degree builds on a strong foundation laid by their undergraduate studies in these and other disciplines and provides a unique focus that will be applicable to their chosen profession.

“Top employers recognize that students who have learned to think critically to address problems in mathematics, economics and the sciences can also think critically about business strategy, once they’ve gained the skills imparted through our specialized program,” said Bipin Prabhakar, program chair for the +Kelley program, which creates pathways into the full-time Master of Science in Finance and the Master of Science in Information Systems degree programs. (more…)

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