Tag Archives: eller college of management

Biltmore residents Karl and Stevie Eller with University of Arizona Eller College of Management Dean Len Jessup. The Ellers' gift of $1.5 million will name the Professional Development Center, a two-story addition to the business school that will house undergraduate career coaches, recruiter meeting space, and student collaboration space.

UA Eller College receives large gifts from Valley philanthropists

The University of Arizona Eller College of Management announced on Oct. 9 three new gift commitments totaling $6 million from Shamrock Foods and Karl and Stevie Eller of Phoenix and the Diamond family of Tucson.

More than 240 people attended the celebration of Arizona NOW: The Campaign for the University of Arizona, hosted by Eller College and the UA Foundation National Leadership Council at the Musical Instrument Museum in Phoenix. The overall goal of Arizona NOW: The Campaign for the University of Arizona is set at $1.5 billion.

education

UA’s Eller College Moving to Phoenix

The University of Arizona Eller College of Management announced today that it will be moving from its satellite location in north Scottsdale to downtown Phoenix.

The Eller College will occupy classroom and office space on the campus of the UA College of Medicine – Phoenix, located at 550 E. Van Buren St. The location will be home to two of Eller’s part-time MBA programs for working professionals: the Evening MBA and the Executive MBA, which are designed for managers with 3-plus years of experience and seasoned executives, respectively.

Between the two programs, the campus will serve about 170 MBA students annually.

“We are thrilled that Eller will be a part of the exciting things happening in downtown Phoenix,” said Len Jessup, dean of the Eller College. “The College of Medicine has established beautiful facilities that will give our professional MBAs access to high-tech working classroom space and a true campus experience.”

City of Phoenix’s Mayor Greg Stanton also supports the move.

“It’s incredibly exciting that Eller is opening its doors in downtown Phoenix, where we continue to offer the highest-rated education opportunities in the state within just a few blocks of each other,” Stanton said. “Eller graduates are top-notch, and exactly the kind of professionals we want as a part of our community.”

Access to graduate management education is one of many factors that contribute to greater Phoenix’s long-term competitiveness, added Don Budinger, chairman and founding director of The Rodel Foundations and board member of Greater Phoenix Economic Council and Greater Phoenix Leadership.

“The University of Arizona’s downtown programs offer excellent options for working professionals who are considering an MBA.”

Last week, in the U.S. News & World Report ranking of graduate programs, the Eller Evening MBA rose 21 slots, from No. 46 to No. 25 nationwide. The college is recognized for its leadership in entrepreneurship and management information systems, which consistently rank in the top 10 among undergraduate and graduate programs nationally.

Applications are being accepted now for the Executive MBA program that will begin in August at the downtown campus. A new class of Evening MBA students will begin at the location in January.

“Downtown offers a central location, with easy access for those already working in the area, as well as public transportation options. Our students frequently come together for team meetings, and the medical campus offers great collaboration space,” said Hope Schau, associate dean of MBA programs.

The Eller College began offering its MBA programs in the Phoenix area in 2006, with the launch of the Executive MBA program in Scottsdale. Since 2007, the college has held classes at a satellite campus just east of the Loop 101 in the McDowell Mountain Business Park, at 16425 N. Pima Road.

The college will open its downtown Phoenix location in late August or September. The Executive and Evening MBA students scheduled to complete their programs this year will remain at the Scottsdale campus. The Evening MBA class of 2015 will relocate to the downtown campus on Sept. 1.

Placenti_Frank

Squire Sanders Partner judges ethics competition

Squire Sanders Partner Frank Placenti served as a judge in the University of Arizona, Eller College of Management’s 11th Annual Collegiate Ethics Case Competition.

The event allows local business leaders and professionals to help students from more than 30 business colleges to reason through a thought provoking business ethics case, with this competition raising students’ awareness of the importance of corporate social responsibility.

education.business

Educators say executives can increase workplace value

Despite signs of what most people view as a recovering economy, more than half of Arizona’s workforce stresses over job security.

A recent University of Phoenix survey revealed that 61 percent of working adults worry about losing their jobs in the current economic climate and 20 percent anguish over it at least once a week.

“In a challenging economic environment, workers should be doing more to position themselves as leaders in their organizations, but the survey finds that many are holding back at work, and this can have a negative effect on performance and productivity,” said Dr. Sam Sanders, college chair for University of Phoenix School of Business and a former human resources executive with more than 20 years of hiring and employee relations experience. “Those who understand the big picture and how their own skill sets help their companies achieve goals should have more confidence and can have an advantage in the workplace.”

To separate themselves from others and to create more job security, many executives are strengthening their skill sets through education.

“The trends in executive education is for shorter duration programs than those that preceded the recession, with emphases on acquiring skills that lead to promotions or career advancement and new market opportunities,” said Dr. Kevin McClean, interim dean, Ken Blanchard College of Business at Grand Canyon University. “Another key ingredient is the opportunity to network. These objectives are not really different from those that motivated people to pursue executive education in the past.”

Executive trends

Some of the shifts that educators are incorporating into graduate business programs include more emphasis on leading in turbulent times, developing organizational talent, innovation and creativity, and flexible, participative strategic planning.

“Executives are being asked to take on more responsibility and act more holistic in understanding the interdependencies of people and functions in organizations,” said Dr. Kirk Wessel, dean of Angell Snyder School of Business at Ottawa University. “This is being reflected in curricula.”

Educators are also being asked to help prepare executives and business students to deal with increasingly more complex business issues.

“For example, rather than teaching executives innovation or risk, we are talking about ‘risk-bound innovation,’” said Dennis Baltzley, Ph.D., senior vice president of executive education at Thunderbird School of Global Management. “Leaders want to know how to create an environment of innovation, while creating a ‘boundary’ of risk management. We must innovate, but more than ever, a bad decision can be fatal.”

Baltzley said Thunderbird is also seeing a dramatic interest in global global leadership.
Our customers want to know how to lead effectively across borders, cultures, different business models and philosophies,” Baltzley said. “Since 2008, growth has been slow in the U.S. and other mature markets. This led many businesses to leap into emerging markets with the promise of double digit growth whether they were ready or not, and most were not as ready as they would have liked.”

Paul Melendez, assistant dean of executive education at the Eller College of Management at the University of Arizona, said he is seeing four specific trends:
* Customization: Executive education is becoming much more tailored to specific organizations, with programs, content, and learning customized to the unique needs of the organization. While many business schools still offer one- or two-week open-enrollment programs, organizations are finding it more beneficial to develop a program that is tailored to their executives.
* Consulting: The natural extension of customized programs is a consulting model where education and problem-solving are combined into a program. “We have helped organizations develop their culture, strategically plan, and develop a wide variety of business improvement plans through programs that also provide education for leaders,” Melendez said.
* Strategic partnerships: Eller Executive Education has developed strategic partnerships with Miraval and Canyon Ranch to offer programs that join cutting-edge leadership and management principles and with world-class health and wellness programs which they have dubbed “integrative leadership.”
* Privatization: A year ago the university spun Eller Executive Education out of the UA to allow greater operating flexibility. “As a result, we are now providing many more custom program for private, governmental, and non-profit organizations,” Melendez  said. “We have seen a number of other state business schools also privatizing their executive education organizations.”

Increasing your stock

Michael Bevis, director of academic affairs at University of Phoenix, said more executives have started to approach their careers in the same way they approach business management by focusing on building their personal brands.

“When you think about a company brand, it isn’t just about what you are communicating, but how that brand addresses the needs of the intended audience,” Bevis said. “One of the things I work on with executives and other business students at University of Phoenix, is developing a personal business plan that starts with the personal mission statement. You wouldn’t run a business without a plan and the same should be true about your career. If you are not setting goals, measuring progress and making sure your knowledge stays current and relevant, your personal brand — like that of a company’s — can become stagnant.”

So what programs are out there for executives to utilize to strengthen their brand?

* University of Phoenix: Within the MBA programs, concentrations allow executives to grow specific skills. It is common for executives or business owners to have specific knowledge about an industry or certain aspects of business management, but skills or knowledge gaps in other areas. Concentrations can help professionals hone certain skills, such as people management, finance or marketing.

* Thunderbird School of Global Management: Thunderbird offers a range of options from its short programs — less than a week — to its more in-depth MBA offerings. “We have a Global MBA Online that allows you to learn global business from anywhere in the world and an Executive MBA that’s on-campus, but provides a schedule suited to the working professional. “ Baltzley  said. “We also offer online certificate programs which are designed specifically for working professionals looking to improve their marketability and gain a leading edge over their competition.

* W. P. Carey School of Business at Arizona State University: “Our executive-education programs, such as our leadership development workshops and our certificate programs in real estate, supply chain management, and service excellence, can give executives deeper skills and expose them to new ideas,” said Amy Hillman, dean of the W. P. Carey School of Business. “However, if they want to move into leadership roles beyond their current functional areas, then the MBA is the best option, though short non-degree courses that develop leadership skills are also helpful.”

* Eller College of Management: Eller Executive Education offers a variety of week-long programs and year-long programs for leaders of different types of organizations. “We are also launching a program in early 2014 that is specifically oriented toward CEOs of mid-sized to large companies,” Melendez said.

* DeVry University: Keller Graduate School of Management offers seven specialized master’s degree programs and 13 graduate certificate programs.

* Ken Blanchard College of Business: GCU offers very practical programs that include a master’s in leadership, a masters in accounting, and a masters in public administration.

* Angell Snyder School of Business: Case teaching methodologies teach executives to think critically about all internal and external factors that come into play in developing effective organizational strategies, irrespective of the industry.

Moving forward

The most important message that educators have for executives who may be worried about maintaining their position in the current economic climate is to stay current on trends in your industry, keep your brand current by understanding how your skills and experience fit into the big picture of an organization.

“This past year, we were asked repeatedly how to be effective in managing a diverse, multicultural, and geographically dispersed workforce, and how to stay relevant in a Volatile, Uncertain, Complex and Ambiguous (VUCA) world,” Baltzley said. “Without question the term ‘VUCA’ has come of age and has several implications for executives who want to remain relevant today.”

To stay in the game, Baltzley has three pieces of advice for executives:
1. Get your head into what it means to think globally. If you think your company is domestic and American, and it will never go global, you are wrong, global is coming to you. In fact, global is probably already there, in the form of complex supply chain issues or direct competitors, so you better get prepared.
2. A term coined in the late 1970’s is important here – “Permanent Whitewater” – That is, if you think the whitewater is going to slow down, or that a calm patch is just around the corner, you are mistaken. You have to prepare yourself for leading in constant change in scale and speed.
3. Check your personal leadership style. Are you able to influence people very different than yourself? Do you enjoy variety, the unknown, surprises? Is your self-confidence and personal energy level pretty high? Do you like to test yourself, take some risks? If you can’t answer “yes” to most of these, you have some work to do to become a more adaptive leader.

coffee beans

Phoenix Coffee Company going to 'Shark Tank'

Local entrepreneurs Connor Riley and Samantha Meis, the cofounders of MistoBox, are taking the plunge into the “tank” to pitch their business idea on ABC’s hit reality television series Shark Tank on Friday May 3rd at 7 p.m.

On the show Riley and Meis will be introduced to a panel of five wealthy millionaire and billionaire investors (“sharks”) where they will pitch MistoBox, a company aimed at revolutionizing the way people buy and discover coffee. Riley and Meis were selected among 36,000 applicants to pitch their innovative business idea in hopes of getting their venture funded.

“Getting to pitch to the investors on Shark Tank was a once in a lifetime experience. It was so exciting and terrifying all at the same time!” said Meis.

MistoBox, based out of Downtown Phoenix’s revitalized warehouse district, sends subscribers four exceptional coffees each month from artisan roasters across the country.  In order to narrow it down, each month a panel of MistoBox coffee experts taste more than 50 coffees submitted by different coffee roasters to decide which make the cut and are delivered to subscribers’ doorsteps. Subscribers can then brew each of the selected coffees and pick a favorite. When they find one they love, they can head back to MistoBox’s online shop to get up to two full bags of their favorite with free shipping.  It’s just enough coffee to tide subscribers over until their next MistoBox is delivered, and they discover their next favorite!

Local favorite Cartel Coffee, based out of Tempe, was featured just last month. “This was by far one of our most popular coffees featured ever, and it’s local which is great! We love supporting local companies,” said Meis.

You could say Riley, a Phoenix native, and Meis are two adventurers with an entrepreneurial spirit. The pair met while studying abroad in Spain where they fulfilled their need for adventure by running with the bulls together.

A year after returning back to the University of Arizona in Tucson, they were paired up in the Entrepreneurship Program at the Eller College of Management where they were given a class assignment to come up with an innovative business idea. They absolutely loved coffee and wanted to figure out a way to get delicious coffees – from the best roasters – into more people’s homes. MistoBox was born on their college graduation day in 2012 and began with funding from a successful Kickstarter project, an online platform for raising funds and gaining investors for a startup company. Since, the two have moved the company to Phoenix and are expanding their network of coffee-crazed subscribers every day!

“It is incredible the response we’re getting,” said Riley. “In the fast-paced lives we all live, it’s convenient and exciting for people to get these great coffees without having to take the extra time find them.”

Will the sharks “bite” on MistoBox? Tune in to ABC on Friday, May 3rd at 7 p.m. to find out.

coffee beans

Phoenix Coffee Company going to ‘Shark Tank’

Local entrepreneurs Connor Riley and Samantha Meis, the cofounders of MistoBox, are taking the plunge into the “tank” to pitch their business idea on ABC’s hit reality television series Shark Tank on Friday May 3rd at 7 p.m.

On the show Riley and Meis will be introduced to a panel of five wealthy millionaire and billionaire investors (“sharks”) where they will pitch MistoBox, a company aimed at revolutionizing the way people buy and discover coffee. Riley and Meis were selected among 36,000 applicants to pitch their innovative business idea in hopes of getting their venture funded.

“Getting to pitch to the investors on Shark Tank was a once in a lifetime experience. It was so exciting and terrifying all at the same time!” said Meis.

MistoBox, based out of Downtown Phoenix’s revitalized warehouse district, sends subscribers four exceptional coffees each month from artisan roasters across the country.  In order to narrow it down, each month a panel of MistoBox coffee experts taste more than 50 coffees submitted by different coffee roasters to decide which make the cut and are delivered to subscribers’ doorsteps. Subscribers can then brew each of the selected coffees and pick a favorite. When they find one they love, they can head back to MistoBox’s online shop to get up to two full bags of their favorite with free shipping.  It’s just enough coffee to tide subscribers over until their next MistoBox is delivered, and they discover their next favorite!

Local favorite Cartel Coffee, based out of Tempe, was featured just last month. “This was by far one of our most popular coffees featured ever, and it’s local which is great! We love supporting local companies,” said Meis.

You could say Riley, a Phoenix native, and Meis are two adventurers with an entrepreneurial spirit. The pair met while studying abroad in Spain where they fulfilled their need for adventure by running with the bulls together.

A year after returning back to the University of Arizona in Tucson, they were paired up in the Entrepreneurship Program at the Eller College of Management where they were given a class assignment to come up with an innovative business idea. They absolutely loved coffee and wanted to figure out a way to get delicious coffees – from the best roasters – into more people’s homes. MistoBox was born on their college graduation day in 2012 and began with funding from a successful Kickstarter project, an online platform for raising funds and gaining investors for a startup company. Since, the two have moved the company to Phoenix and are expanding their network of coffee-crazed subscribers every day!

“It is incredible the response we’re getting,” said Riley. “In the fast-paced lives we all live, it’s convenient and exciting for people to get these great coffees without having to take the extra time find them.”

Will the sharks “bite” on MistoBox? Tune in to ABC on Friday, May 3rd at 7 p.m. to find out.

University Of Arizona

The University Of Arizona Celebrates Innovation

The University of Arizona (UA) hosted its ninth annual Innovation Day on March 6.  The event, attended by over 300 people, celebrated the UA’s success in technology development and innovation by highlighting the research achievements of students, staff, and faculty.

Innovation Day opened with UA at the Leading Edge, which showcased the cutting edge research of leading UA faculty members.  The session was chaired by Dr. Len Jessup, Dean of the Eller College of Management.

This year’s Leading Edge researchers included:

  • Eric A. Betterton, Ph.D. focuses on atmospheric and environmental chemistry exploring an atmospheric model to forecast wind-blown dust from natural and man-made sources.  This research supports the development of dust forecasting technology for health and traffic advisories.
  • Leslie Gunatilaka, Ph.D. explores novel compounds synthesized by exotic plants from the arid zones of Asia, S. America and the Sonoran desert, and evaluates these compounds for medicinal value.
  • Larry Head, Ph.D. specializes in systems and industrial engineering.  His research on priority based traffic signals is working to save the lives of fire and rescue first responders.
  • Sharon Megdal, Ph.D. concentrates on state and regional water resource management and policy.  Her work on environmental water needs, aquifer recharge and assessment, and planning to meet future water needs of growing, semi-arid regions contributes to improved development and understanding of state water management strategies.
  • James T. Schwiegerling, Ph.D. is developing a design for an accommodating intraocular lens, which behaves just like the flexible human lens in the eye, which can be used as a replacement in cataract surgery.

The celebration of University of Arizona innovation continued with the Technology Innovation Awards Luncheon, which honored an outstanding faculty member and student for their achievements in translating original ideas from the laboratory to the marketplace.

This year’s faculty Technology Innovation Award recipient is Ronald S. Weinstein, M.D.  Dr. Weinstein has pursed a wide variety of projects in his medical career.  He has pioneered original research in cancer diagnostics and the human-computer interface, championed the translation of his inventions into commercial products, and founded companies in the technology-based sector to market their products.  Dr. Weinstein is an internationally acclaimed academic physician who invented, patented, and commercialized “telepathology” a transformational healthcare delivery system that leverages the power of broadband telecommunications.  He is the founding director of the award-winning Arizona Telemedicine Program (ATP).

Alexandra Armstrong, a final-year PhD candidate in Veterinary Sciences and Microbiology, received the student Technology Innovation Award.  Alexandra Armstrong is a leading force in the area of preventing bacterial food borne diseases. Ms. Armstrong’s doctoral project resulted in a novel, reproducible, effective vaccine to reduce Campylobacter jejuni. The commercial potential of this vaccine is enormous.

The UA also recognized the extraordinary accomplishment of Michael Drake (1946-2011), a leader in the cosmochemistry scientific community.   He was the guiding force in the Phoenix Mars Mission and the recently announced OSIRIS-Rex mission.

A special video titled “Thinking the Impossible” premiered during the luncheon and highlighted how the University of Arizona has been a global leader in scientific and technological innovation for over a hundred years.

Following the luncheon, the Innovation Showcase provided an opportunity for participants to interact with UA departments, start-up companies from the Arizona Center for Innovation, as well as get an early glimpse at the business plans of students from the McGuire Center for Entrepreneurship.

The Innovation Showcase Awards recognized student teams who developed business plans from the McGuire Center for Entrepreneurship at the Eller College of Management.  The companies were judged on various aspects of their business presentation.  The People’s Choice Award was presented to the business venture that received the most Innovation Bucks from showcase attendees.  Mindful Monkee, received the People’s Choice award and $200 cash prize.  Top student ventures overall were selected by a panel of judges comprised of angel investors and entrepreneurs.  Two student teams won booth appeal.  First place winner for booth appeal, OnwardPacks, received $250 cash prize and second place winner, Advanced Armor Applications, won $150 cash prize.  Two student teams won communication and fluency awards.  First place winner, MistoBox, received $250 cash prize and second place winner, Testab, won $150 cash prize.

Innovation Day at the UA was organized by the Office of University Research Parks and the Arizona Center for Innovation in partnership with the UA’s Senior Vice President for Research, UA External Relations, Office of Technology Transfer, and the McGuire Center for Entrepreneurship.

Innovation Day’s title sponsor was Research Corporation for Science Advancement.  Other sponsors included: Arizona Commerce Authority, Arizona Tech Council, BizTucson, Hecker and Muehlebach, PLLC., Tucson Electric Power and Strategy 1.

Innovation Day at the UA was an official Arizona Centennial Event as well as a signature event of the Arizona SciTech Festival.

AA035979

The University of Arizona Brings Online Education To Entrepreneurs

As the state pulls itself out of the recessionary hole, small business owners and entrepreneurs have to re-think how they get things done. Getting advice from experts is critical, but who has the time?

The University of Arizona’s McGuire Center for Entrepreneurship at the Eller College of Management is making it easy for entrepreneurs and small business owners to expand their knowledge.

On Aug. 15, the McGuire Center launched three unique online certificate courses that offer entrepreneurs a “practical university education,” said Randy Accetta, mentor-in-residence and communications mentor at the center, a top-tier university-based center for entrepreneurship.

The three areas of study are commercializing an innovation, starting a small business and growing an existing venture. The courses go along with the UA’s land grant mission, and are funded in part by a United States Department of Labor Workforce Innovation in Regional Economic Development (WIRED) grant. The courses are offered through the non-credit arm of the UA’s Outreach College.

The UA is still marketing the courses, and online classes haven’t started yet, Accetta said.  Credit-bearing versions of the courses will most likely be offered during the spring 2011 semester at the UA.

What makes these online courses different is the amount of hands-on, one-on-one work students will do with Eller College of Management mentors and faculty members, Accetta said. Currently, the classes are structured as mentor-based and comprised of small cohorts.

Since the courses haven’t started yet, their structure can be modified and could range from small cohorts, as originally planned, to an independent study, according to what the market needs.

However the structure of the courses turns out, Accetta, the UA and the McGuire Center are committed to a high-quality educational experience that is focused on interaction between student and professor.

The UA and the McGuire Center wanted to provide entrepreneurs in the Southwest region with a university-type education in which students can end the course with a comprehensive understanding of the theories and concepts behind growing a business, Accetta said.

He added that the UA has been slow to offer distance learning and online courses, and these programs are part of the university’s effort to enter the world of online-based education. Distance learning is important, because the UA is pushing to “extend the intellectual quality of the university throughout the region,” Accetta said.

“Our long-range vision is to grow a more educated, more motivated entrepreneur community,” he said.

In these difficult times, courses like these can have an impact beyond the classroom, or computer screen in this case, Accetta said, adding that building a business community that can identify and act on opportunities to stimulate entrepreneurial growth will result in a stronger economy for Southern Arizona.

The State’s Economic Forecast For The Rest Of The Year - AZ Business Magazine Jul/Aug 2010

The State’s Economic Forecast For The Rest Of The Year Calls For An Agonizingly Slow Recovery

Ready to heave a sigh of relief over Arizona’s economy? Go ahead — but don’t get carried away. Some observers expect the second half of this year will bring positive signs that the economy is recovering, turning the dial toward even stronger growth in 2011 and 2012. Others aren’t so sure the state’s recession is in the rear-view mirror yet, and that a quick rebound is in the cards. Two of Arizona’s leading economists, Marshall Vest and Lee McPheters, disagree on how this year will shake out and how quickly a full recovery will be reached.

Half full

Vest, an economist at the University of Arizona’s Eller College of Management, believes Arizona’s economy hit bottom at the end of 2009. He forecasts retail sales will increase 5 percent this year and 10 percent in 2011. Home builders are buying back land they sold a few years ago and preparing for new construction. The housing market is improving “fairly rapidly,” with sales of existing homes up and housing prices stabilizing.

“Housing prices will continue to move up because they are well-below trend,” Vest says. “New-home permits are off the bottom, but I don’t see a whole lot of upward potential until we have absorbed all the vacant houses.”

He estimates inventory at 120,000 homes statewide.

As for that other troublesome spot in the economy, jobs, unemployment dropped to 9.5 percent in April, and may already have peaked.

“I think we’ll see slow improvement in the number of unemployed,” Vest says. “But it probably will be two or three years before we get the (unemployment) rate below 6 percent.”

He expects the hospitality industry, wholesale trade, and the professional and business services sector to show employment gains the second half of this year. New jobs will attract more people to Arizona and Vest predicts the state’s population will grow by 2.5 percent in 2012.

“I don’t expect to see the 4 and 4.5 percent growth from the last expansion because the population base is so large now,” Vest says. “But a 2.5 percent increase is a lot of people.”

Although he says it will take years to repair the damage, Vest sees better days ahead, with the economy in full recovery by 2013.

“This year simply sets the stage for much stronger and broad-based growth in 2011,” he notes. “We should see some significant growth in most sectors of the economy in 2011 and 2012. The areas growing fastest likely will be professional and business services, trade, hospitality, health care and residential construction.”

However, commercial real estate and the public sector will continue to be a drag on the economy, according to Vest.

“Tax revenues lag at least a year behind an economy that is recovering,” he says. “It will be at least a year, maybe two or three, before state and local government regains its footing.”

Half empty

McPheters, research professor of economics at the W.P. Carey School of Business at Arizona State University, thinks Arizona’s recession is still in play as measured by employment. Reaching 2.7 million jobs, the peak of employment in 2007, indicates a full recovery, McPheters says. More jobs may be lost this year — perhaps 24,000 — and 2010 could close out with 2.4 million people employed.

“So 2010 is another recession year,” he notes.

McPheters sees recovery in three to four years. Full recovery could come in 2013 if Arizona averages 3.7 percent job growth between now and then, McPheters says. Three percent job growth means recovery in 2014.

Arizona’s economy likely will creak along at its trough through the second half of the year but “2011 should be a year when home prices, population and jobs show modest improvement,” McPheters says.

He forecasts a gain of 48,000 jobs next year, a 2 percent increase over 2010. Population should grow 1.8 percent, a nudge of 0.3 percent. Homebuilders will take out 17,800 single-family housing permits this year and 28,480 next year, but “you would expect Arizona to generate 40,000 to 50,000 permits in a ‘normal year,’ ” McPheters says. “The housing recovery really hasn’t unfolded the way I thought it would.”

He won’t forecast retail sales until he has more data in hand.

A labor shortage?

Dennis Hoffman, professor of economics at the W.P. Carey School of Business, sees more questions than answers in Arizona’s immediate future.

“If you look at any kind of model about Arizona, you see significant growth coming in 2011 and 2012,” Hoffman says. “But that is nothing more than a reflection of history. The question is, are the dynamics that drove (economic) bounces in the past in place this time? This one may be different.”

Arizona’s rapid-paced recoveries from prior recessions “were fueled by the immediate availability of an abundant supply of undocumented cheap labor,” Hoffman says. “With Arizona’s attitude toward undocumented laborers, it’s pretty clear that abundant undocumented workers may be a headwind for us.”

With much of their assets tied up in real estate, Arizonans suffered “wealth erosion of massive proportions” as home prices slid 40 percent to 60 percent, Hoffman adds. Personal spending cratered and tax revenues plunged. Hoffman says the country’s household wealth fell 3 percent from December 1928 to December 1929 during the Great Depression. National wealth deteriorated 17 percent from December 2007 to December 2008 during the current recession, and Arizona was at least twice that bad, he notes.

“If we could regain consumer confidence and begin consuming close to historical norms, you’re talking between $14 billion and $16 billion in taxable spending,” Hoffman says. “That would do a lot to cure the ills of our very wounded economy.”

Arizona must become a magnet for new residents again, according to Hoffman, because in-migration fuels tax receipts as new arrivals buy homes, cars, furniture and other goods and services.

Residents needed

Indeed, economist Elliott Pollack, CEO of Elliott D. Pollack & Company, says Arizona will recover only if more people relocate to the state.

“We won’t need another square foot of housing, we won’t need another square foot of office space if people don’t move here,” Pollack says. “I expected population inflows to slow, but I never dreamed it would come to a screeching halt.”

Arizona’s total population growth (in-migration, plus births, minus deaths) was 3.1 percent in 2007 and 0.8 percent in 2009, Pollack says, noting that population will pick up slowly over the next four or five years.

He adds that Arizona’s recovery will be gradual and painful because the national recovery will be sluggish.

“Consumers are not nearly as able to spend as they have coming out of past recessions because they have to pay down debt and increase savings,” Pollack says. “That is not something they had to do in past recoveries.”

Becoming business friendly

Don Cardon, director of the Arizona Department of Commerce, sees “significant things happening in invisible areas.” He is bullish on the re-emergence of investment capital in Arizona this year.

“I am sincerely positive about what’s anticipated for the third and fourth quarters,” Cardon says. “I think we will see a re-engagement of capital streams, a softening of the ability of large investors to be interested in Arizona industry.”

Large investors will “beta test” the state and then secondary investors will decide they “have been out of the water way too long,” Cardon says. He sees Arizona businesses gaining traction over the next year. He also believes new capital will flow to energy-related industries, particularly renewable energy, the technology sector, small business and entrepreneurial ventures.

Last year, Gov. Jan Brewer appointed a commerce advisory council to identify an economic development model for the state and, following the group’s recommendations, has proposed scrapping the Commerce Department and replacing it with a so-called public-private commerce authority. Cardon says the authority would give Arizona a vital ingredient for improving the economy — focus.

“(The authority) has received unparalleled favor across party lines and in all sectors of business because it represents a sense of focus,” Cardon says. “We’re saying that at the state level, we haven’t been focused and we lost our connection with legislative support and confidence.”

Once necessary laws are passed to establish the authority, it “will create a tool for the private sector to say, ‘I understand this. We can count on them.’ We will go from an intangible entity to something that is specific and highly energized,” Cardon says.

The authority will emphasize energy and business attraction, retention and expansion, he says.

A boost to Arizona’s competitive position is critical to an economic recovery, and a statewide economic development program backed by a supportive tax policy is overdue, says Barry Broome, president and CEO of the Greater Phoenix Economic Council. In the meantime, he believes Arizona’s economy will bounce back “quicker than people realize, that it will be strong and that it will result in a faster rate of job recovery than economists are projecting for Phoenix and Arizona.”

Over the next year and a half, Broome says, Arizona will develop a full-fledged, renewable-energy cluster and transform itself into a solar energy hub; health care will experience a strong expansion with emphasis on information technology and telemedicine; and the aerospace market will hold its own. In addition, Broome expects an uptick in regional headquarter activity.

www.azcommerce.com | www.ebr.eller.arizona.edu |www.elliottpollack.com | www.gpec.org | www.wpcarey.asu.edu

Arizona Business Magazine Jul/Aug 2010

University of Arizona Customized Executive Education - AZ Business Magazine Jul/Aug 2010

University of Arizona Targets Niche Markets For Customized Executive Education

The Eller College of Management at the University of Arizona has a customized executive education program that targets highly skilled professionals with advanced degrees in the industries of medicine, bioscience and engineering, and who are called upon to lead key divisions within the company.

These leaders frequently have had little or no formal training in essential business concepts and strategies. This “gap” between technical expertise and business training is widely recognized by the executives affected. Customized executive education can be designed to successfully bridge this gap, and specifically target an organization’s unique learning goals and performance objectives. The Eller College business of medicine, business of bioscience, and business of technology programs present topics and address issues specific to the client organization.

All executive education certificate programs are categorized as non-degree. Many Eller College business of medicine programs qualify for Category 1 Continuing Medical Education (CME) credit for physicians, in partnership with University of Arizona Health Sciences.

Step 1: Exploratory meetings
The director of executive education meets with the organization’s executives and key stakeholders to review the company’s strategic goals and objectives. A preliminary needs assessment facilitates a better understanding of the company’s challenges, which leads to the identification of specific learning objectives. Based on the outcome of these meetings, a proposal outlining the suggested curriculum is presented for discussion and review. Once the proposal has been refined and the contract executed, the project moves into the development phase.

Step 2: Program development

The proposed curriculum is fleshed out in detail using Eller’s 3-Cs of customized executive education development: content, context and critical mass. The content of each session, or module, must be results-driven, i.e. what action, behavioral change or deliverable is the ultimate goal? Next, how can the material be given context through embedding unique/specific corporate data, projects or activities into the module design? The third C is critical mass. The college believes that in order to effect behavioral change, or create momentum strong enough to enhance and influence actions beyond the classroom, there must be sufficient participation to create consensus, as well as critical mass within that organization.

Eller executive education programs are designed for a minimum of 15 participants and a maximum of 50. Faculty and industry experts are selected based on their formal areas of expertise, as well as specific industry knowledge or experience particularly relevant to the audience. The client’s key stakeholders or planning team collaborates with the executive education team and UA faculty in developing the curriculum. Optimal results are achieved when instructors have ready access to key personnel within the organization during the development process for purposes of discussion and feedback. Also needed is access to pertinent data and internal reports relevant to the topics covered, and the overall learning objectives of the company. To ensure confidentiality, a non-disclosure agreement is put in place at the beginning of the development process.

Step 3: Program delivery

Custom programs are a minimum of one day in length and may be considerably longer based on the needs of the organization. Typical programs consist of multiple sessions or modules, with each module being one-and-a-half days to two days in length. Classes are dynamic and participatory; attendees engage in inter-session activities and exercises designed to transfer knowledge back into the organization after formal sessions are concluded. Participants are expected to complete advance readings prior to each session, and may be asked to complete specific activities following the module or between (multiple) modules. Classes may be conducted at either of the Eller College locations in Scottsdale or Tucson, or at a client-designated facility.

Step 4: Program feedback, evaluation and review

Following the conclusion of each module, program participants and other key stakeholders are asked to complete an evaluation designed to rate the process, instructors, content and deliverables. All evaluations and feedback, both formal and informal, are jointly reviewed by the Eller executive education team and the company’s management team. Specific activities or follow-up sessions are frequently assigned at the conclusion of each module to reinforce content, action items and deliverables.

Executive education as an investment

Customized executive education is an investment in a company’s single most important asset, its people. Every company is faced with the challenge of successfully developing, motivating and retaining top employees. This applies equally to current executives and high-potential individuals who are key to the company’s future success. An investment in executive education can pay significant dividends in many different ways, whether it is adding value that visibly impacts the bottom line or one that substantively enhances a company culture that believes in promoting excellence through continuing professional development.

Arizona Business Magazine Jul/Aug 2010

Accelerated MBA programs

Accelerated MBA Programs Increasingly Appeal To Out-Of-Work Professionals

Grad school has always been a safe haven for out-of-work professionals in a down economy. Now, as economic indicators suggest the economy has bottomed out and the long recovery has begun, those workers face a tough decision: try to stick it out in a brutal job market or invest in retooling their skills and re-enter the market on the upswing.

For many, the decision comes down to timing.

Accelerated MBA programs are an increasingly appealing option for professionals who want to earn an advanced degree quickly — and affordably — and time their returns to the work force to coincide with the economic recovery. Along with a two-year program for full-time students seeking an immersive experience, the Eller College of Management at the University of Arizona has developed three accelerated MBA program options.

The 18-month evening MBA meets once a week and is aimed at working professionals.

The 14-month executive MBA is designed for high-level professionals with extensive work experience.

The newest program, a 12-month Accelerated MBA, is a full-time experience beginning in summer 2010. The program is designed for professionals with an undergraduate business degree and a few years of experience. After completing a summer boot camp experience, the students step into the second year of the full-time program and focus on elective coursework.

The 18-month and 14-month programs also are offered in Phoenix at Eller’s Scottsdale campus.

“Beyond timing, a traditional, two-year MBA program just isn’t the right fit for everyone,” says Trina Callie, assistant dean of Eller MBA programs. “Workers with significant professional experience will be more at home in an accelerated program, like our Executive MBA. Business professionals who are three to five years out of college will get the most out of our 12-month MBA, where they can focus on elective coursework.”

Hoon Choi, a student in the 14-month Eller Executive MBA program, spent months unsuccessfully looking for a job and networking before realizing that “most of the employers were looking for the total package: MBA plus experience. Now I am expanding my network through an opportunity to work on an innovative, exciting project with my peers, who are all experts in their fields.”

Katherine Tunsky entered the traditional, full-time program this fall and sees it as a way to build skills in industries she hasn’t yet explored.

“My passion is real estate finance, but while here at Eller, I plan on focusing on sustainability and I will be applying for the dual-degree program in hopes of earning a master’s in environmental planning,” she says.

The Eller MBA program also recently introduced new focus areas that help students build skills in specific growth industries, such as energy and health care.

“For example, all of our programs include an international component, which we believe is vitally important in today’s global business environment,” Callie says. “But we also offer students access to consulting projects and career services to help them build their resumes and better position themselves for their coming job searches.”

Liz Warren-Pederson is the marketing and communications manager at the University of Arizona, www.eller.arizona.edu.

Students involved in cheating are more likely to engage in unethical practices such as insider trading.

University Of Arizona Program Teaches Undergrads The Importance Of Good Ethics

In the 21st century, incidents of corporate malfeasance have become commonplace. America witnessed the implosion of the onetime energy wonder Enron, the fall of telecommunications giant WorldCom, and the collapse of mortgage miracle Countrywide, just to name a few.

Not surprisingly, questions were quickly raised about the role business schools played in such scandals, the implication being that B-schools encouraged the blind pursuit of profit maximization and a “winner-take-all” mentality. While such fiery rhetoric is provocative, it’s important to point out that such pursuits run counter to the basic tenets of long-term, sustainable business practices taught in business classes.

While B-schools certainly have a role to play in promoting ethical practices, such a tremendous responsibility can’t fall squarely on the shoulders of B-schools. It is our families and institutions in society that must also demonstrate and reinforce personal and professional ethics.

Even though a host of ethics initiatives, centers, and/or institutes bubbled up across the nation in response to highly publicized cases of corporate corruption, nearly all are situated at the graduate level among MBA students and centered on matters related to corporate governance. The Eller College of Management at the University of Arizona launched its ethics program in 2003, and it was met with interest and enthusiasm for being markedly different.

The Eller ethics program, E-tegrity (Eller Integrity), is aimed at undergraduate business students and is focused on connecting academic integrity in the classroom with future behavior in the workplace. As research suggests, student behaviors demonstrated in the classroom can carry over into careers. Put differently, students involved in cheating are more likely and at-risk to engage in unethical practices such as insider trading.

From the onset, E-tegrity was supported by Eller College Dean Paul Portney. Leadership from the top is always imperative to begin and maintain any program. Equally important is the buy-in from faculty and students. Faculty affirmed that the college had a responsibility to promote ethics and were invigorated with the prospect of establishing a culture of strong ethics. Students also proved deeply interested. With this broad base of support, E-tegrity began.

Prior to the start of the fall 2003 semester, faculty were asked to take three simple, but important measures in their classes: (1) include a college-adopted student oath statement on syllabi that addressed both academic dishonesty and academic misconduct, (2) formally handle all academic integrity cases, and (3) use the anti-plagiarism software (Turnitin.com) purchased by the college.

The code of conduct statements on syllabi would help ensure that faculty sent a consistent message to students. Formally handling cases would encourage that due process would be followed and cases would be officially reported. The anti-plagiarism software would help deter and detect plagiarism, which accounted for 70 percent of university academic integrity violations in 2002-2003. By adopting these measures, the faculty would take on the primary responsibility for the enforcement component of the program.

Because E-tegrity called for a cultural change in the college that centered on student involvement, in the same fall 2003 semester, students were invited to apply for membership to a new student organization known as the Eller Board of Honor and Integrity (EBHI). EBHI would ultimately be charged with the educational component of the program, working with students on a variety of innovative programs to help raise awareness. Members of EBHI would: (1) Develop a student oath that would be administered to students upon entry to the college; (2) offer presentations to students on the importance of ethics, whereby they not only promoted, but were expected to exemplify personal integrity and ethics among their peers; and (3) assist with the organization and delivery of a series of new and innovative programs that have come to define E-tegrity on a national scale.

Ultimately, the programs of E-tegrity are aimed at three levels: K-12, collegiate and executive. At the K-12 level, there is the High School Ethics Forum. EBHI members facilitate discussions among the city’s top high school students on matters related to personal and professional ethics. At the university level, there is the Eller Ethics Case Competition, in which top B-schools from around the country send their very best students to compete in a three-day event that challenges the ethical reasoning of students. At the executive level, there is the partnership with the Tucson Chapter of the Better Business Bureau (BBB) where students from EBHI comprise a single vote in the BBB’s Annual Business Ethics Awards process. In the near future, EBHI members will also serve as teaching assistants in the college’s first ethics course. In this capacity, EBHI members will assist with the course objective of promoting ethical decision-making.

Over the past five years, E-tegrity has gained traction and matured as an ethics program. By connecting academic integrity in the classroom with future behavior in the workplace, the college motivates students to examine their personal values and consider all stakeholders in their decision-making.E-tegrity has been the recipient of various awards for excellence, and innovation has provided meaningful guidance to B-schools around the country looking to address and support ethical behavior on the part of undergraduate students and future business leaders. The real payoff will come in several years, when we begin to graduate students whose entire college career will have taken place in an atmosphere of high standards that are clearly articulated, widely honored, and vigorously enforced.

Paul Melendez is the founder and director of the ethics program at the Eller College of Management at the University of Arizona. For more information on E-tegrity, visitugrad.eller.arizona.edu/etegrity