Loyola University Chicago

Quinlan School of Business


CEOs gather at Loyola to discuss Leading for Good


Wendy DuBoe, CEO of United Way of Metropolitan Chicago, addressed the sold-out crowd at Leading for Good.

By Mary Ennis | Student reporter

Forty-five CEOs and top executives from the U.S., U.K., and Colombia recently spoke at the sold-out Leading for Good conference hosted by the Baumhart Center for Social Enterprise and Responsibility.

The leaders and 250 attendees discussed how to integrate business strategy and social purpose to advance the greater good. Below, watch key moments from the conference and read about the three major themes that emerged in the conversations.


Key takeaways

Three key themes dominated the conference's three plenary panels and six breakout sessions:

1. The boundaries are blurring.

Susan Crown, founder of the Susan Crown Exchange, observed that the U.S. has historically been divided into three distinct sectors: private (corporate), public (government), and social (nonprofit). But "we live in a world today where [these sectors] have converged," she said. Crown's observation was echoed throughout the day: Business strategy is increasingly essential to government and nonprofit leadership, and social purpose is increasingly essential to business leadership.

2. Cross-sectorial partnerships are vital to accomplishing large-scale goals.

Wendy DuBoe, CEO of United Way of Metropolitan Chicago, opened the event with a powerful vision: "When business works hand-in-hand with civic leaders and community leaders, it can have an absolutely positive and transformative effect on society."

Speakers throughout the day-including leaders from Deloitte, Edelman, ITW, JP Morgan Chase, and William Blair-unanimously agreed that businesses must work together with social and public sector partners and contribute their unique strengths to tackle today's most pressing challenges.

Lisa Morrison Butler, a commissioner of the city of Chicago, built on this vision later in the day by insisting "there is no one sector that is going to be able deliver the solution" to today's social issues.

3. "Social business" is on its way to becoming simply "business."

William Towns, executive director of Benefit Chicago and a Loyola alumnus, spoke passionately about the growing movement to "not only yield profits, but also yield purpose." In his view, the Baumhart Center is a key part of the momentum that "will have a tremendous impact on businesses around the world" and help to galvanize the entire business community behind a social agenda.

Conference photos

View photos from the Leading for Good conference in the gallery below or on Quinlan's Flickr page.

Leading for Good, 2018

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Quinlan Ramble visits leading Seattle companies


Quinlan students visited Publicis Groupe as part of the Quinlan Ramble to Seattle over spring break.

Sixteen undergraduate students spent their spring break visiting leading companies in Seattle during the fifth annual Quinlan Ramble.

The Quinlan Ramble is an annual alternative spring break trip that allows students to connect with Quinlan alumni, while learning about the business community is another part of the United States. Past trips have visited New York City, Austin, Dallas and the San Francisco Bay Area.

In Seattle, the students visited eight companies over seven days:

  • Publicis Groupe
  • Starbucks
  • The Boeing Company
  • Bill & Melinda Gates Foundation
  • Brooks Sports
  • Costco Wholesale Corporation
  • Global Seas LLC
  • West Monroe Partners

In addition to the company visits, students also explored Seattle, including visiting the Space Needle, Pike Place Market, the Chihuly Garden, and Glass and The Museum of Pop Culture.

“The Quinlan Ramble was an eye-opening experience for me not just as a Quinlan student, but as a student of Loyola as a whole. I was able to make 16 new friends in the matter of hours and that connection will last beyond the Ramble and our undergraduate careers,” wrote student Reginald Bailey in the Quinlan Ramble blog.

Quinlan Ramble photos

View photos from the Quinlan Ramble in the gallery below or on Quinlan's Flickr page

2018 Quinlan Ramble to Seattle

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Cheer on the Loyola Men's Basketball team with Quinlan


Watch the big game in the Schreiber lobby on Thursday!

Cheer on the Loyola men's basketball team as they take on the Miami Hurricanes in the first round of the NCAA tournament! This is the first time in 33 years that the team has been in the tournament.

Spirit Days

Wednesday, March 14 and Thursday, March 15

Join in SPIRIT DAYS at Quinlan! Wear your best and brightest Loyola gear to show support for the Ramblers.

Quinlan Watch Party

Thursday, March 15 at 2 p.m.

Join your friends to catch the game in between classes! Sit on the Gorman Family Great Stairs in the Schreiber Center lobby to watch the game on the big screen while enjoying pizza compliments of Home Run Inn. The watch party is open to all Loyola students, faculty, and staff.

More basketball, please!

Keep up with the team, special events, and the media coverage by visiting Loyola's March Madness page.

Kmet honored with marketing legend award


"Every strategic decision I have ever made, at every stage of my career, was informed by data," says Carolyn Tang Kmet, senior lecturer in information systems.

By Monica Sather | Student reporter

Carolyn Tang Kmet, senior lecturer in information systems, received a marketing legend award for her 20 years in data-driven marketing, including work for Groupon, Orbitz, and digital marketing agency All Inclusive Marketing.

She was honored as part of the Affiliate Summit Pinnacle Awards presented at Affiliate Summit West 2018, the largest conference for the performance marketing industry.  

Here, Kmet discusses the award, her work in marketing, and how she brings it into the classroom.

Tell me about the Affiliate Marketing Legend award.

The Affiliate Marketing Legend award is not given out every year. It is only awarded when the Affiliate Summit founders, along with an advisory committee, see that someone has distinguished themselves throughout their career. 

For me, this was the ultimate award that I could have received. I never imagined that my work would have been recognized at this level, and it is humbling to think that my colleagues recognize and appreciate my contributions to the field. 

Tell me about your work in data-driven marketing strategy.

I have been working in the performance marketing industry since the late 1990’s, when e-commerce just started taking off. I started working for a company called MyPoints.com, and helped establish affiliate advertising partnerships with online retailers. After significantly growing that particular marketing channel for them, I got the opportunity to pursue my MBA at Loyola. That was one of the best decisions I have ever made in my life.

Getting my MBA positioned me for more senior management roles, and after graduation, I went to work at numerous companies, eventually rising to a CMO position with All Inclusive Marketing, a digital marketing agency.  

As my career grew, so did the field of analytics. With e-commerce, you can track just about any consumer activity. Even before a consumer steps into your online store, you can dig into the data and see what they are interested in and what motivates them. Using that data, you can personalize your marketing, merchandising, and messaging. If you give a consumer exactly what they want, you will likely see a higher conversion rate.

Every strategic decision I have ever made, at every stage of my career, was informed by data. 

Why did you decide to enter academia?

Dr. Raymond Benton Jr., professor emeritus at the Quinlan School of Business, has always been a wonderful mentor for me. Just over 10 years ago, he asked me to teach a graduate-level marketing course over the summer.

I loved it so much that I started picking up a couple classes here and there, in addition to my full-time roles. It was almost like an outlet for me. Working with the students kept me engaged in my own field, and I loved seeing them get excited about the material. When a full-time teaching position opened up within the Information Systems department, it was a natural segue for me given my background in marketing analytics.

No one has ever succeeded in life without the help of others, and I am so fortunate to have had such a strong support network throughout my career, including Drs. Mary Malliaris and Nenad Jukić at Quinlan.

How do you bring your experience into the classroom?

A lot of best practices from the corporate world make their way into lectures. I have also had former colleagues come in as guest lecturers, and I have done short case studies based on some of my personal experiences.

I think coming in as a practitioner helps me augment the coursework with real-world, personal examples.

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Preventing future macroeconomic crises by studying the past


"Identifying fiscal and monetary policies that lead to undesirable outcomes and hurt the ability of businesses to thrive is of critical importance," says Díaz.

By Monica Sather | Student reporter

Julián P. Díaz, PhD, assistant professor of economics, recently presented at a conference organized by leading economists—including a Nobel Laurate—and hosted by the highly respected Becker Friedman Institute at the University of Chicago.

Díaz, along with researchers from throughout North and South America, were invited to explore the monetary and fiscal history of the 11 largest Latin American countries since the 1950s or 1960s. Díaz’s research and presentation focused on Ecuador.

By studying these countries—which have faced a number of macroeconomic crises, including defaults, devaluations, and banking crises—the conference hoped to strengthen the understanding of the causes of these crises.

Here, Díaz discusses the conference, his research on Ecuador, and why it is important for the business and Quinlan communities.

Tell me about the conference.

The conference was organized by Thomas Sargent (Nobel Laureate in Economics, 2011); Juan Pablo Nicolini; and Timothy Kehoe. Since I was born and raised in Ecuador, and macroeconomics is one of my research fields—with some of my papers focusing on the Ecuadorian economy—the organizers thought I would be a good fit to participate in the project. Simón Cueva, another Ecuadorian economist, is my co-author in this project.

The project is guided by a common methodological framework to analyze the sources of macroeconomic crises in the region. Although the studies follow the same broad methodology, the analysis at the country level also incorporates facts and features specific to each nation to obtain a more accurate understanding of the sources of macroeconomic instability in each economy.

Tell me about the project’s goals.

The project accomplishes two main objectives: the first one is the construction of a long, internationally comparable database that, starting in 1950, includes the most important fiscal and monetary variables of Ecuador. This data allows us to pursue the second objective: to determine whether bad monetary and fiscal policies are the main culprits of Ecuador’s poor macroeconomic performance during most of the second half of the Twentieth Century.

What are the key findings from your Ecuador case?

Before describing the main results, it is important to highlight that Ecuador is a unique case among the 11 economies in the project since it officially dollarized its economy in 2000. That means that Ecuador is the only country in the project that renounced its own domestic currency and adopted the U.S. dollar as legal tender.

Our analysis covers the 1950-2015 period. We found that until 1971, the Ecuadorian economy was characterized by a relatively healthy economic growth rate of 4.8 percent per year, and low inflation, which averaged close to 3 percent per year. In the early 1970s, Ecuador became an oil exporter, which coincided with a surge in the price of oil in the international markets. The new wealth led to a massive increase in the size of the government, which more than doubled relative to the pre-oil era.

However, growth in the size of the government was not accompanied by any kind of rainy-day saving. The surge in oil prices eventually came to a halt but, instead of adjusting to this new reality, the Ecuadorian government borrowed heavily from abroad to maintain its level of spending.

The Latin American Debt Crisis of the 1980s made this strategy unsustainable since international creditors stopped lending to Ecuador, and the rest of the region. This should have prompted a significant fiscal adjustment, which, however, never really took place in a significant manner. Instead, the government resorted to seigniorage—printing money—to finance a large portion of its spending. This in turn led to a lengthy period—almost three decades— of persistently high inflation, which averaged nearly 30 percent between 1972 and 1999.

This highly inflationary environment ended in the year 2000, when Ecuador dollarized after suffering the worst economic crisis in its history in 1999. Under the dollarization regime, the Ecuadorian government cannot print money, since the currency is now the U.S. dollar. Once the ability to print money indiscriminately was eliminated, inflation dropped dramatically and has averaged 4 percent since 2004, levels comparable to the ones we have in the U.S.

Why is this of interest to the business and Quinlan communities?

Businesses operate in environments influenced by governments’ actions. Identifying fiscal and monetary policies that lead to undesirable outcomes and hurt the ability of businesses to thrive is of critical importance.

For our students, many of the tools used to analyze the countries’ performances in this project are taught in a number of economics classes at Quinlan. This highlights the fact that the topics we cover in class are not just theoretical exercises. They are being used to understand why some countries fail, and what can be done so that such costly experiences are not repeated in the future.

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Study abroad gives grad students a taste of Southeast Asia


Nayantara Abraham (first from left, standing) with her graduate marketing class and Professor Clifford Shultz (center) in Siem Reap, Cambodia. (Photo by Jennifer Fernandes)

In January 2018, 15 graduate marketing students spent two weeks traveling through Vietnam, Cambodia, and Thailand as part of a comparative marketing class led by Professor Clifford Shultz. Read the class blog →

Below the trip photo gallery, read Quinlan graduate student Nayantara Abraham's reflections on her life-changing experiences.

Trip photo gallery

View the photos in the gallery below or on Quinlan’s Flickr page.

Southeast Asia Graduate Study Abroad 2018

Reflections on studying abroad in Southeast Asia

To be perfectly honest, it is hard to describe this trip and what we gained from it without resorting to a bunch of tired clichés and superlatives. We were 15 strangers thrown together for a brief but intense experience abroad. We did not know what to expect, apart from a whirlwind tour of Southeast Asia: visiting three countries in a little over 10 days.

For many of us, Vietnam, Cambodia, and Thailand had just been names on the map and we did not know enough to even distinguish between them. With their shared borders and history, how different could these three countries be?

Changing perspectives

Our sensory extravaganza of Southeast Asian sights, smells, and sounds officially began in Ho Chi Minh City, although several of us had taken advantage of the long New Year’s weekend to arrive a few days early and spend time in other parts of the subcontinent. We soon realized that the Vietnamese definition of “winter” was a bit different from ours. Wilting in the 100 degree heat, it was hard to imagine that at that very moment, an arctic blast was tearing through Chicago.

We were happy to meet the wonderful staff and distinguished alumni at Loyola’s Vietnam Center. It was illuminating to hear firsthand from entrepreneurs about the political and legal issues involved in managing a business in such a vastly different cultural landscape. Sightseeing at the various city landmarks and museums revealed a great deal about “The American War” from a different perspective. The early mornings and packed schedule kept us too busy to realize how jetlagged we were—until we fell gratefully into bed each night, experiencing some of the most sound sleep we have ever had.

The power of resilience

Our gastronomic adventure continued in Cambodia (or Kampuchea as it is known in the local Khmer). We dauntlessly tried new foods each night in Siem Reap while each day took us on an intrepid journey through a labyrinth of temple ruins, each with a more enchanting story than the last—the highlight, of course, being the indomitable Angkor Wat. Here, we were again confronted by the damage caused by a war that ended not so long ago. Despite the unimaginable horrors during those dark years and the regrettable fact that justice was never served, it was deeply touching to see how the Cambodian people have put it all behind them and are living fulfilling lives. It was a testament to the resilience of the human spirit and the power of granting forgiveness even when forgiveness is not sought.

Another great source of inspiration was the many non-governmental organizations (NGOs) with dedicated volunteers, both local and international, focused on improving the lives of young Cambodians by providing training in vocational skills that would lift them out of poverty.

The end of the ride

Our cultural rollercoaster finally ground to a halt in Thailand. Going from the small historical town of Siem Reap straight to the bustling metropolis of Bangkok, we immediately noticed the stark change in atmosphere. This country owes much of its unique culture to the fact that it has never been colonized by European powers. Evidence of the people’s reverence for the ruling monarchy is everywhere and the gender-fluid culture is embedded even in the lilting tones of the language.

Decidedly one of the most popular tourist destinations in Asia, Thailand’s GDP is flourishing. There were the same familiar cars and night markets that we had grown used to, but to our surprise now, the traffic was more streamlined and merchants less willing to bargain. The sheer opulence of the golden palaces harked back to the ruins in Cambodia, giving us a brief glimpse of what they must have looked like before the ravages of time and war made their indelible mark.

Not wanting the trip to end, some of us continued the celebration in other parts of Thailand while others made extended stopovers in various Asian countries on their way home. It took us less than 15 days abroad to go from 15 strangers to 15 friends who cannot go 15 minutes without texting each other—except in business school-speak, we call that networking.

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Marketing trends for football’s championship game


"From a marketer’s perspective, it is a dream to work at the championship game and be a part of it all," says Sara Gramata, executive lecturer in marketing. (Image: Getty Images)

By Monica Sather | Student reporter

With the championship football game coming up, fans are focused on the players and teams in this year’s most anticipated matchup. But what goes on behind the scenes of football’s biggest game?

Sara Gramata, executive lecturer in marketing, discusses this year’s new marketing trends and how controversies could affect the championship game.  

What are the marketing challenges for the championship game?

The biggest challenge this year is the controversy with the players protesting during the national anthem, which has been following the NFL for a while now. This has negatively affected how the NFL is viewed: They are seen as this big monster of a sports league that has been greedy with their sponsorships.

We will see how the ads and commercials change for this championship game. The NFL doing public service announcements (PSAs), for example, would be really beneficial for the perception of the league. Even if they incorporate something that’s more action prone versus what we have seen in the past and have come to expect. For example, while the NFL has made a large donation to domestic abuse related charities, there are other initiatives that would provide a more meaningful impact, such as creating an ongoing education program for the players and coaches. Like the old phrase, actions speak louder. 

Another challenge is how you refer to the game in promotional materials. With the championship game, you can’t use the official name in your marketing or advertising materials, unless you are a secured sponsor. You’ll find that advertisers now are very inventive about how they refer to “the big game” or “the game on Sunday.”

What are the new trends in 2018?

One of the new trends, especially with the championship game, is trying to become greener. The NFL is trying to make each game greener than ever before, whether it’s composting at the arena or the materials that they are printing on for their collateral or promotional material. They are trying to become much more inventive and be more sustainable overall.

Why should the business and Quinlan communities follow these trends?

Most interesting is how the green movement and social responsibility play out on a big stage. Here at Quinlan, we have strong ties to Loyola’s Institute of Environmental Sustainability, and we have a sustainability management minor. Our students are greatly interested in the way that the organizers are trying to make the big game more efficient and green, and how that could benefit the NFL as well as the planet.

What is the value of the game for marketers?

From a marketer’s perspective, it is a dream to work at the championship game and be a part of it all. I’ve been at the game, and it’s a huge event and production. The lessons that are viewed firsthand are invaluable, such as what happens when the lights go out at your event, like they did in New Orleans a few years ago. What do you do? Nobody had ever thought about having backup generators until that happened.

All of our classes talk a lot about the advertising and the commercials that are played and I think that’s always an exciting part of the game as well.

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Joint study shows small businesses are increasingly optimistic about Chicago economy


Stacey Pitts Caldwell, director of the Chicagoland Chamber of Commerce's Small Business Development Center, thanked the Quinlan marketing students who worked on the 2018 Chicagoland Small Business Outlook Survey.

Small businesses in the Chicago region have growing optimism, plus plans to expand, according to the 2018 Small Business Outlook Survey. This is important as 46 percent of Illinois’ private sector workforce–2.4 million people–are employed by a small business.

The annual survey has been conducted by the Chicagoland Chamber of Commerce and Quinlan since 2014. For the 2018 survey, Quinlan graduate marketing students under the direction of assistant marketing professor Alexander Krasnikov, PhD, were engaged during all stages of the project, from survey development to data collection and interpretation.

“We want to extend a really heartfelt thank you” to the students, said Stacey Pitts Caldwell, director of the Chicagoland Chamber of Commerce’s Small Business Development Center. “It’s one thing to do a survey, and it’s another thing to really collaborate with such great minds to do the analysis.”

Survey results

Watch a video summary of the 2018 survey results or read the key results below.

Key results include:

  • In 2018, there is a sharp 8 percent upswing in businesses that say the Chicagoland economy is getting stronger. Such confidence has been lacking in recent years. In 2015, 42 percent of small businesses said the Chicagoland economy strengthened. That figure fell to 28 percent in 2016 and was near flat in 2017 at 29 percent.
  • Confidence is especially strong locally. While confidence in the Chicagoland economy spiked 8 percent, it rose modestly at the Illinois and U.S. levels at 3 percent each.
  • Seventy-one percent of small businesses in the survey expect to see their revenues increase in 2018, a 12 percent spike from last year.
  • Sixty-two percent of small businesses plan to expand their operations within Illinois in 2018, which was another 12 percent increase from last year.
  • Eighteen percent of small businesses plan to expand internationally this year, a 5 percent rise.
  • Forty-two percent of small businesses expect to add full-time employees this year, a 7 percent increase from last year.
  • The fastest growing concern of small businesses in the survey is talent acquisition, which rose 10 percent. Sixty-six percent of small businesses now worry about accessing skilled workers to hire.
  • The cost of health care is the second-fastest growing concern in the survey. It rose 6 percent, and now worries 88 percent of Chicagoland small businesses.

“The results of the survey are very encouraging,” said Chicagoland Chamber President and CEO Jack Lavin. “Small businesses’ strong increase in confidence in the Chicagoland economy points to an environment where they’ll be investing in their operations. This creates opportunity for businesses of all sizes, and for every worker.”

Read the full survey results →

Event photos

The survey results were revealed at a reception on Wednesday, January 24, at the home of the Quinlan School of Business, the Schreiber Center on Loyola’s Water Tower Campus.

View event photos in the gallery below or on the chamber’s Flickr page.

2018 State of Small Business

Survey in the news

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Quinlan in the media


Assistant Dean Katherine Acles was featured in the Chicago Tribune discussing the high level of diversity in Quinlan's MBA program.

Quinlan faculty and staff are often quoted in local and national publications on critical issues in business.

March 2018 

February 2018

January 2018

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

  • Bankrate
    So you’ve got money in a British bank →
    Professor George Kaufman explains the impact of Brexit on the American financial industry.
  • SHRM
    As Work Is Transforming, How Will It Be Rewarded? →
    Professor Dow Scott discusses the changing nature of compensation.
  • FBNC Vietnam
    Vietnam and Me →
    Professor Clifford Shultz discusses macromarketing, sustainable business, and Loyola's program in Vietnam. Watch Part One of the report below. View Part Two and Part Three.

May 2016

April 2016

March 2016

February 2016

January 2016

December 2015

  • The Economist
    Reluctant Heirs →
    The Next Generation Leadership Institute is mentioned in this piece on getting children to take over the family business

November 2015

October 2015

September 2015

Schreiber Center Grand Opening

General Colin L. Powell, USA (Ret.) spoke at Quinlan's CEO Summit and the grand opening celebration for the John and Kathy Schreiber Center.

  • WBEZ-FM, WBBM-AM, and WFLD-TV mentioned Powell’s visit in their broadcasts. The visit was also mentioned in the AJCU Higher Ed News and the Washington Times
  • The Loyola Phoenix
    CEO Summit Features Colin Powell →
    General Colin L. Powell, USA (Ret.) on corporate social responsibility
  • Daily North Shore
    Loyola Celebrates Schreiber Center →
    Dean Kevin Stevens, General Colin L. Powell, USA (Ret.), and Chicago Mayor Rahm Emanuel all made appearances in a Daily North Shore photo gallery 

August 2015

Schreiber Center in the News

The Quinlan School of Business opened its new Schreiber Center in August 2015.

Planned US metal tariffs rattle workers at Wisconsin canning factory

Launch your career in 2018


Business Career Services can help you launch your career through comprehensive career development services and events.

Find your next internship or a career at recruiting events hosted by Business Career Services in January, February, and March 2018. For complete details or to register, visit RamblerLink →

Employer Meet and Greets

January and February
Network and learn more about recruitment opportunities at a variety of companies. Companies and their time slots will be listed in RamblerLink.

Winter Accounting Internship Fair

January 25, 2018
Build your professional network and your marketable skills with a full-time “busy season” internship in accounting.  You can even earn academic credit. Register now in RamblerLink. Open to current students.

Spring Career and Networking Fair

February 21, 2018: Finance and Accounting
February 22, 2018: All Business Opportunities
Meet with a diverse range of employers to find your next professional opportunity. Register now in RamblerLink. Open to students and alumni.

On-Campus Interviews

February-March 2018
Interview with employers looking to fill internship and full-time positions. Companies and their time slots will be listed in RamblerLink.

Learn more

Varma receives Distinguished Alumnus Award


Arup Varma, PhD, was honored at the 2017 XLRI Homecoming.

By Monica Sather | Student Reporter

Arup Varma, PhD, professor of management, was honored with the Distinguished Alumnus Award from his alma mater, XLRI – Xavier School of Management, at its annual Homecoming in December 2017.

Varma received his Master’s in Human Resources from the Jesuit school, which is located in Jamshedpur, India.

“The visit back to XLRI to receive the Distinguished Alumnus Award was very special to me,” says Varma, “Visiting the campus more than three decades after I graduated indeed brought home why the ceremony is called homecoming.”

A distinguished alum

The Distinguished Alumnus Awards are given each year to alumni who have made a significant contribution in their field of expertise. Each year, nominations are sought from alumni inviting them to nominate their fellow alumni who they feel ought to be recognized and celebrated. A selection committee then decides on the final recipients each year.   

“I have kept in touch with friends from XLRI, and they let me know that they were going to get the ball rolling and nominate me for the award,” says Varma. “I’m very honored and grateful to have their support.”

Varma was one of nine XLRI alumni recognized and received the Distinguished Alumni Award in the academic category, due to his strong research publishing record and multiple awards over the years for teaching, research, and service.  

The recognition comes on the heels of his recent Fulbright Scholarship. Varma begins his tenure as a Fulbright Scholar in Lucknow, India, in January 2018 where he will work on developing a model that can be used by multinational companies worldwide to evaluate expatriates.

“The award itself is very meaningful, as it is recognition from one's alma mater, but the warm welcome really makes it significant,” says Varma. “I have already made up my mind to go back to XLRI soon.”

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Marketing students volunteer at Chicago Ideas Week


Junior Alexander Minton (right) met fashion designer Zac Posen (second from right) while volunteering at Chicago Ideas Week.

By Monica Sather | Student reporter

Quinlan Marketing Research students gained valuable experience and created great memories as volunteers at Chicago Ideas Week 2017.

Chicago Ideas Week (CIW), which ran from October 16-22, is a festival that features talks, conversations, and hands-on labs with global thought leaders and innovators. 

“This was the first year for this collaboration, and my goal was to align CIW’s Community of Curiosity with my course’s emphasis on curiosity as an essential trait students should call upon throughout the marketing research process,” says Stacy Neier Beran, PhD, senior lecturer in marketing. 

Volunteering at CIW also is part of Neier’s commitment to engaged learning, which challenges students to engage with the community through service and outreach experiences.

Highlights of the week

For the students, it was a meaningful week that helped solidify their Loyola experience and cultivate their curiosity.

Senior marketing major Zoraidin Nina volunteered for a lab run by Univision, where she took photographs for future marketing materials of participants learning how to create commercials with a cell phone.

“I grew up watching Univision with my parents. It’s a channel that connects family, unites the Hispanic community, and serves to bring laughter, information, and opportunity to its viewers,” says Nina. “It was a pleasure to enter the studio and share conversations with the producers and news anchors. It was all so surreal, and an experience I’ll remember forever.”

Junior marketing major Alexander Minton volunteered to be an usher for a talk on streetwear and fashion. A highlight for him was meeting fashion designer Zac Posen, who, after hearing what Minton was studying, validated the importance of his major: “Marketing is very important; it’s how you tell the story of a brand.”

“Because Loyola is located in such a major city, we are given great opportunities like CIW and Quinlan grounds me in that with great connections from professors,” says Minton.

Students impress CIW

Not only did the students gain valuable experience in an inspiring environment, but they also impressed their fellow volunteers and CIW staff with their enthusiasm and respect.

“One of the best results of Quinlan students volunteering at CIW is their addition to the great diversity of ages and demographics that make up our Community of Curiosity,” says Isaac Israilevich, director of volunteers for CIW. “Quinlan students contributed an endless amount of experience and eagerness to the CIW Volunteer Team, and I hope they continue to do so for years to come.”

Meet Seth Green, director of the Baumhart Center


"The Baumhart Center serves the goals of Loyola University Chicago’s Plan 2020, which is to build a more humane and sustainable world," says Seth Green.

“To solve our most pressing social challenges, we need to harness the scale and insight of all the sectors of our economy, including business,” says Seth Green, founding director of the Baumhart Center for Social Enterprise and Responsibility.

Green began directing the Baumhart Center in August 2017, after 15 years of leading institutions at the forefront of fighting poverty and expanding opportunity. The center is a member of the Loyola Business Leadership Hub housed in the Quinlan School of Business.

Here, Green talks about the Baumhart Center and his vision for creating a better world through business.

Tell me about your first 90 days as director.

Joining Loyola has been a thrilling experience. I’ve been deeply inspired by the Jesuit mission of our University and truly moved by the dedication of my colleagues.

I’ve spent my first 90 days here collaborating with faculty, students, corporate executives, and social entrepreneurs to develop our strategic plan. We’ve now completed the planning process, and we’ve built an ambitious vision to promote social business in Chicago and across the globe.

We’ve also used these first 90 days to pilot ideas, from hosting our first student dialogue with a social entrepreneur to organizing a learning breakfast for Chicago’s foremost leaders. The level of interest and involvement from students and practitioners alike has exceeded my highest expectations and been both energizing and affirming.

What is your vision for the Baumhart Center?

The Baumhart Center serves the goals of Loyola University Chicago’s Plan 2020, which is to build a more humane and sustainable world. Our specific mission is to promote social business in the pursuit of that more just world.

Through research, education, and engagement, we seek to prepare students and leaders to tackle society’s most pressing challenges. Ultimately, my goal as the founding director is to drive measurable impact on issues such as poverty and climate change through our partnerships, thought leadership, and capacity-building efforts.

What is social business?

Social business is the unification of social purpose and business strategy to advance the greater good. Our center is exploring three distinct dimensions: 

  • Social impact: Nonprofits that leverage business strategy to do good better. Think, for example, of Feeding America applying supply chain strategy to recover and distribute food. It’s feeding the hungry (rather than feeding shareholders), but it’s using core business insights all the same.
  • Social enterprise: Businesses that apply commercial strategies to address social needs. Think, for example, of A Safe Haven’s landscaping companies that are running a market-based business and providing jobs and training to give people an entry into the workforce.
  • Social responsibility: Businesses that seek to create social value while maximizing long-term shareholder value. Think, for example, of McDonald’s recent commitment to source 100% of its coffee from sustainable sources by 2020, up from 37% today. Their commitment is improving their long-term business by ensuring they have access to high-quality, affordable coffee while transforming the industry to be dramatically more sustainable.

What is distinctive about the Baumhart Center?

Three things set us apart:

  • Interdisciplinary: Our approach at Baumhart – from who we are engaging to how we are thinking about social business – is interdisciplinary. We are leveraging the skills and knowledge of all academic disciplines, community stakeholders, and sectors of our economy. In a time where the highest-performing nonprofits and businesses are mixing social purpose and business strategy, thinking across disciplines and sectors has never been more important.
  • Practical: The Baumhart Center is forward-looking and solutions-oriented, applying our ideas in tangible ways that make a direct and measurable impact in our Chicagoland community and world. We believe in service to others and proactively seek opportunities to create social value for the greater good.
  • Mission-driven: Inspired by St. Ignatius’s call to “go forth and set the world on fire,” we go to the frontiers of thought, asking critical questions and exploring new ways of doing business. We also seek diverse perspectives, knowing that our ideas are stronger when they reflect the racial, ethnic, socioeconomic, religious, and gender diversity of our world.

What initiative are you particularly excited about?

This spring, thanks to a partnership between Quinlan and Loyola’s School of Social Work, we will launch a new course on social enterprise that will bring together MSW (Masters in Social Work) and MBA students to think collaboratively about how to design social enterprises that can impact poverty here in Chicago.

The class is based on the belief that the best social ventures will understand the social context of poverty and the business strategy to scale solutions. We are excited for how this course can bring two essential sets of expertise – social work and business strategy – to address one of our society’s most intractable challenges.

About the center
The Baumhart Center was named after Raymond C. Baumhart, S.J., a former Loyola president and one of the country’s leading business ethics scholars. An anonymous $5 million gift helped launch the center.

Learn more

Post-socialist life normalized through changes in everyday life, says professor


"We think of globalization as something new, but it’s not," says Katherine Sredl, PhD. "The current experience of globalization of neoliberalism is something new."

By Monica Sather | Student reporter

Globalization leads to massive cultural change, including in gender roles and consumer needs, says Katherine Sredl, PhD, clinical professor of marketing. Changes to social life and everyday interactions help individuals normalize this cultural shift. 

Sredl, who is of Croatian heritage, studied the recent cultural shift in Zagreb, Croatia, because she wanted to bridge the gap between people’s lived experience during socialism and afterward, when the end of socialism brought in privatization and global capitalism. In 1991, Croatia formally declared independence from the Socialist Federal Republic of Yugoslavia and began its transition from socialism to capitalism. 

Her study, titled “Gendered Market Subjectivity: Autonomy, Privilege, and Emotional Subjectivity in Normalizing Post-Socialist Neoliberal Ideology,” was recently published in the journal Consumption Markets and Culture. She was also recently appointed as a visiting scholar at the University of Zagreb, Faculty of Economics and Business, from 2017 to 2019.

Here, Sredl discusses her current research on how globalization impacts markets and why it is important to the business world and Quinlan students.

What questions are you trying to answer in your research?

In my research, I try to understand globalization and how consumers are affected by it. It’s really interesting to study how men and women are differently affected by the cultural change that happens with globalization. I ask questions such as how do work and family roles change? What does it mean to be a woman and how does it change? Cultures change with globalization, for example, as countries become part of the European Union.

In this journal article, I’m interested in how women experience the transition from socialism to capitalism in Croatia. I study women who are working class, middle class, and upper middle class, and I study women from three generations—so grandmothers, mothers, and daughters. These are Baby Boomers and Gen Xers who experienced the height of consumer culture in socialism, then its slow decline, and then Millennials, who came of age during privatization.

When I compare their experiences related to work and family meals, then I can see the differences that emerge between the past and present and understand what it means to be a woman in this global age of neoliberalism. Neoliberalism is a global political-economic arrangement that favors free markets.

We think of globalization as something new, but it’s not. Yet the current experience of globalization of neoliberalism is something new.

What are some key research findings?

The key finding was that people began to normalize the key changes of the big structure, not just through major things like voting but through changes to everyday social life.

Changes such as having lunch at a different time of the day with your family, not socializing at work as much as they used to, or not socializing after work. Social interactions changed and it normalized these huge, massive ideological shifts. It makes that new way of thinking normal. It’s just in the minutiae of everyday life.

Why is this topic of interest to business?

Globalization is important because any business that wants growth is going to have to go global. And any time there is globalization, there is immense cultural change. Marketers must understand what happens to cultures as markets change.

There’s always massive change in gender roles as women become employed in the formal labor economy and get paid. Family dynamics and women’s roles will change. Buying patterns for food will change as each family member’s activity becomes dominated by work. For children, individual activities, rather the group activities, are thought to prepare the child for living in a market that favors individualism. Consumption of education changes as women become more autonomous in a market that favors workers who are autonomous.

So for companies to sell products, they have to understand what’s going on when globalization happens. They have to ask how the selfhood changes and how can they meet new consumer needs.  

What makes your research relevant to the Quinlan community?

My research honors that we’re an international community at Quinlan, in our faculty and our student body. It also honors the Jesuit global presence.

My research can help our students understand the connection between markets and cultures, the changing consumer needs of emerging markets, and how those needs can be responsibly met through marketing.

Learn more

Intellectual property takes marketing professor around the world


Professor Alexander Krasnikov in Guatemala with (from left) Débora González, general secretary of the registry of Intellectual Property in Guatemala City, and Catalina Atehortúa García, consultant in Intellectual Property for Ruta N.

By Monica Sather | Student reporter

Intellectual property has taken Alexander Krasnikov, PhD, assistant professor of marketing, around the world and into meetings with top government, legal, and business representatives.

His work at the intersection of intellectual property (IP) encompasses copyrights and trademarks, and how brands from emerging markets can evolve, protect, and bring their products into foreign countries.   

Here, Krasnikov discusses his work with IP organizations, his research, and how he brings it into the classroom. 

How did you get involved in intellectual property?

Several years ago, the World Intellectual Property Organization (WIPO), which is a United Nations agency, invited me to seminars they organized in emerging and developing countries to help local businesses and policymakers use IP to create value for their companies and their people.

That led to a seminar for lawyers in Brazil, a conference for policymakers in Colombia, and a conference in Guatemala exploring how Central American countries can grow their economy by creating a brand within their agricultural business. I’ve also been engaged in projects based on trademarks registered in the United States Patent and Trademark Office and interacted with the IP offices in Colombia, Russia, and the European Union.

Besides that, I recently became a member in an industry organization called International Trademark Association (INTA), which unites trademark practitioners and IP legal professionals from across the world. I was asked to join the taskforce in the brands and innovation committee that tries to show the impact of the trademarks on economic development.

What is your area of expertise is within IP?

I help determine in which areas brands should protect themselves and what the optimal trademark portfolio is for the brand. To do this, I look at trademark registrations and the evolution and position of the brands, and do trademark analytics. I also integrate big data from trademarks and registrations in order to get insights on how brands evolve over a period of time.

What interests you about IP?

Branding is at the core of marketing. Products can easily be copied but a brand lasts a very long time. Unfortunately, most of the research on branding focuses on what happens in the developed world and not on the emerging markets.

The integration of IP and trademarks into the study of branding gives us a very interesting perspective, and helps us determine how brands in emerging markets evolve. Even with all the new technology that we have, trademarks are the only complete record that we have of what has happened to a brand over time.

What have you found in your research?

I use trademarks to see how brands from emerging markets diffuse across borders. I have found that companies from emerging markets like Turkey, China, Russia, and Mexico are taking a different path than companies in the developed world.

So when say Proctor and Gamble introduces a product in a developed market, they do it at a massive scale, and do a lot of advertising and product investments. But these emerging markets do it gradually and expand with very little, but the results are very impressive as well.   

The interesting finding is that contract law and the enforcement of property rights is essential for companies in emerging markets to create and bring their brands to foreign countries.

How do you bring your research into the classroom?

Quinlan faculty are engaged with not just local organizations and business, but we are also engaged with large, global policymakers, like the U.N. for example, or with organizations like INTA and WIPO. From the organizations I am in, I have a lot of interesting contacts and fascinating cases that I try to bring to the classroom.

In class, when students discuss their ideas, we talk about different branding strategies to help understand the relation between branding, trademarks, and IP. Say you have this brand, how would you grow it over the next 10 years from the IP perspective? How could you strategically use trademarks? This helps students start to think about trademarking as one of the key themes in brand management.


Fulbright Scholarship sends Varma to India


"I have been very lucky that Quinlan has been very supportive of those of us interested in pursuing research," says Professor Arup Varma, PhD.

By Monica Sather | Student reporter

Arup Varma, PhD, professor of management,will spend five months in India on a prestigious Fulbright Scholarship, beginning in January 2018. The Fulbright Program is the flagship international educational exchange program supported by the U.S. government. 

Born and raised in India, Varma will study the performance management of expatriates, and plans to develop a model that can be used by multinational companies worldwide as they develop their performance management systems.

Here, Varma discusses his research and his aims as a Fulbright Scholar.

Why focus on performance appraisal of expatriates?

For the Fulbright, I decided to combine two topics of interest to me: performance appraisal and expatriates. My PhD advisor once told me that “the best research topics come out of your personal experiences,” and both of these topics are very close to my heart.

I have been interested in performance appraisals since my masters in human resources and my work in human resources. My PhD also focused on performance management. I then developed an interest in expatriate research, being an expatriate myself. I’ve done a lot of research and published papers looking at how expatriates adjust to host countries.

There is currently no proper model in the academic literature for evaluating expatriates when they are working in other countries, and I will hopefully be successful in creating a good model that will fill a void.

Tell me about your project.

I’m going to be hosted by the Indian Institute of Management, Lucknow, which is one of the top business schools in India. I’ll collaborate with the junior faculty and doctoral candidates, as well as assist and help train them. I’m already working with one of their PhD scholars and serving on their committees.

This project involves traveling to different parts of India and meeting with top HR leaders who are in charge of performance evaluation for multinational companies – specifically, with respect to performance management of expatriates. I will also be chatting with some expatriates. How they are evaluated and managed is the focus.

Why did you apply for the Fulbright?

The Fulbright will allow me to focus on the research project fully for five months. Otherwise, it’s a little difficult to focus fully on something because you have classes, meetings, and other projects. When you are concentrating fully on something, the results are much better than when you are giving it piecemeal attention here and there.

It is also a great honor as a faculty member and for Loyola. It means we are not just a good teaching school, but we are also a good scholarship school and that continues to be reinforced. I have been very lucky that Quinlan has been very supportive of those of us interested in pursuing research. I am also very proud of the fact that I have published numerous papers and book chapters co-authored with Quinlan colleagues, and not just from the Management department.

Why India?

I decided to be a Fulbright in India as it would enable me to help my country in whatever little way I could. Since the election of Mr. Modi as prime minister in 2014, there has been renewed interest in India. The economy is doing extremely well, and the government is pushing to improve academic facilities and standards. I go to India very often to conduct research, guest lecture, and attend conferences. It is clear that academic research in India has started to improve, but is not yet where it should be. As I grew up and studied there, the least I can do is pay it back, and help the academic environment there move to the level that it needs to be and play a global leadership role.

I’m also co-founder and past president of the Indian Academy of Management, an Academy of Management affiliate, which promotes research by scholars based in India, and those interested in India. I have a lot of contacts in India, which will help me with my research. 

Quinlan Fulbrights
Varma joins Professors Maciek Nowak and Clifford Shultz on Quinlan's list of Fulbright Scholars. Nowak served as a Fulbright Scholar in Poland in Spring 2017. Shultz served as a Fulbright Scholar in Croatia in 1997 and has had multiple Fulbright assignments in Vietnam beginning in 2001.

Other Fulbrights awarded to Quinlan:

  • Professor Dow Scott served as a Fulbright Specialist at Poland's AGH University of Science and Technology in Summer 2016. Read more →
  • Alumna Riti Patel (BBA ’14) received a Binational Fulbright Internship in Mexico. Read more →

Learn more

The growing threat of data breaches


"Business students not only need to learn how to work with data, but they must also learn how to take care of data," says Kaefer.

Mega breaches – that is, data breaches involving a million digital records or more – are becoming more frequent, even as the overall number of data breaches per year have been decreasing, finds a new study by Frederick Kaefer, PhD, associate professor of Information Systems.

Kaefer’s study, co-authored with undergraduate student James Fritz, was recently published in The Journal of Applied Security Research. Professor Kaefer’s research interests include network security, data analysis, and computer networking.

Here, Professor Kaefer discusses his mega breach study, its findings, and takeaways for businesses and students. 

What is the focus of your research?

A data breach is one of the most feared disasters that can befall a company today, especially with increased attention to breaches by both consumers and regulators. In our research, we took a look at the rise of the mega breach, where the loss of data records rises into the millions. In the last several years, a number of major corporations have experienced mega breaches.

To understand the rise of these mega breaches, we examined data from 2,273 data breaches that occurred between 2005 and 2015 and that involved a confirmed loss of records. Over this 11-year period, 895 million records were involved in data breaches. Sixty-five breaches involved the loss of at least one million records, and earned the distinction of a “mega breach.” Even though these mega breaches accounted for only 3% of the data breaches in this time period, these breaches accounted for 92% of the total records lost.

Why study mega breaches?

Businesses are more sophisticated than ever in developing their defense and proactive measures against data breaches. However, only through sophisticated analysis of the cause of data breaches and their primary targets can a defense be established.

When a breach does occur, devastating consequences can result for those whose information is breached. Preparing for and learning how to best prevent data breaches is critical for both businesses and consumers.

What strategies should businesses use?

Strategies that help to improve an organization’s effectiveness in preventing data breaches include:

1. Encryption

 Encryption is an important function not only when transmitting data, but also when storing data. Through encryption, information is not readily available and adds an additional level of security.

2. Strong Passwords

Forensic investigations into cyber security have revealed that a large percentage of data breaches have involved the exploitation of weak passwords.

3. Classification of Information

Different pieces of information have different levels of sensitivity, and businesses need to implement different levels of security accordingly to efficiently protect data.

Why is your research important to Quinlan students?

Business students not only need to learn how to work with data, but they must also learn how to take care of data. This will prepare them for the responsibility they will have when they are in the workplace and work for organizations that must safeguard both organizational and customer data.

Students must also understand that new technological advances, such as the Internet of Things (IoT), bring new vulnerabilities and often require additional security measures.

Learn more

Quinlan wows once again at Teradata Partners Conference


Quinlan's two undergraduate teams traveled to Anaheim, California for the 2017 Teradata Partners Conference. (Courtesy of Teradata Partners)

By Monica Sather | Student Reporter

Two teams of undergraduate Quinlan students bested teams from around the world to emerge victorious at the 2017 Teradata Partners Conference.

Their awards build on a history of success: This is the fourth year in a row that a Quinlan team has won “The People's Choice Award for Best Presentation," and in 2014, another Quinlan team won a "Most Practical/Business Value" award.

The Teradata Partners Conference brings together more than 3,000 technology professionals from more than 900 companies in 45 countries. The conference prominently featured two student competitions sponsored by the Teradata University Network: the Data Challenge Competition and the Business Analytics Competition.

Students selected for the competition finals had the opportunity to showcase their findings through both formal presentations and poster sessions. Professors Svetlozar Nestorov, Abhishek Sharma, and Nenad Jukić advised both teams.

“The opportunity to present their work at a large professional conference such as Teradata Partners is invaluable for our undergraduates,” says Nestorov. “The interactions with technology professionals and top executives of Fortune 500 companies can boost their confidence and inspire their future careers.”  

The competition was a culmination of nine months of hard work by the students, starting in January 2017 when they began working with real world datasets provided by Rise Against Hunger and GE Transportation.

Data Challenge Competition

In the Data Challenge competition, all student teams were provided with the same datasets and questions from Teradata's nonprofit partner Rise Against Hunger. The teams analyzed the data and business question provided and presented their findings and results. The members of the Quinlan team were Teresa Davies, Alex Matheis, Robert Rice, and Justin Hopp.

The team, one of nine finalists, won the award for "Most Value to Rise Against Hunger," voted on by the members of the Rise Against Hunger organization and given to the team that comes up with the most actionable and impactful recommendations.

“The award perfectly matched the team’s goal to provide practical insights into the business of fighting hunger that can be implemented quickly and effectively,” says Nestorov.  

Watch the students describe their insights and their process below or on Vimeo.

Business Analytics Competition

In the Analytics Challenge, student teams were invited to present their analytics business research or application cases on a topic of their choice to professionals in the business analytics community. The members of the Quinlan team were Faith Hemingway, Tessa Boukal, Amelia Jerkatis, Erin Morales, and Hexianzi Zhang.   

The team, one of ten finalists chosen to present, won "The People's Choice Award for Best Presentation," voted on by all participants at the conference.  

They presented their work on analyzing sensor data for locomotive testing from GE Transportation. Read about the project →

Watch the students explain their project and outline their career goals below or on Vimeo.

Learn more

Four shortcuts for holiday giving


This holiday season, give generously and freely, and try not to burden yourself or your gift recipients, suggests Mary Ann McGrath, PhD.

By Mary Ann McGrath, PhD | Professor of Marketing

Relative prosperity combined with natural generosity motivates us to remember and give to those we value and love this holiday season.

Indeed, a survey by the National Retail Federation indicates that this will be a green Christmas for retailers. Shoppers are projected to spend an average of $967 this year, up 3.4 percent from $935 last year. This number is even higher among younger consumers aged 18 to 24.

But there are some easy and sustainable shortcuts to assure that givers, receivers, and the Planet Earth have a satisfying holiday exchange.

1. Focus on one or two special people

In searching for that perfect gift, understand that all recipients are limited in what they can love, honor, and display. So do not worry about giving special, keep-for-all-time gifts to everyone on your list. Rather choose one or two special people in your life — perhaps your significant other, a very special friend, or a parent — and find that special gift for him or her. 

2. Consider "services" or nonprofit contributions

Great gift-givers always have their radar attuned for gift ideas that fit seamlessly into an individual recipient’s life. These gifts do not have to be expensive, but they are important and communicate the giver’s care and affection. For older adults, this may be a service such as grocery shopping, driving to an appointment, or an afternoon out.  Couples with young children appreciate evenings of babysitting, perhaps combined with a restaurant gift certificate or a movie pass.

We may assume that children prefer toys as gifts, but they may enjoy a day out at the zoo, an afternoon at an appropriate theater production, or a special at-home activity such as making cookies or working on an art project. Present these services as coupons, presented in carefully wrapped packages, as you would any gift.

For those who have everything, making a contribution to a favorite charity in their name simultaneously makes the world a better place and captures the spirit of the holidays.  If you are not sure which groups your recipient favors, a charity that benefits children is always a good choice.

This is also sustainable gift giving: gifts that do not create waste. 

3. Remember co-workers and service people

Many of us have work acquaintances and service people that we want to remember in a small way. If a tip is appropriate, give that in cash. Gift cards can be tricky — sometimes they diminish in value, but they always present the receiver with a task, which is not the spirit of the gift.

Be sure to present this in a festive way in a gift bag with a small token gift such as hand cream, a candle, a tin of cookies, or a box of candy.

4. Thoughtfulness over expense

The most successful gifts are small and need not necessarily come from a store. In fact, a study I conducted asking about “the perfect gift” found that it was the handmade gift of a child.

In just that spirit, give generously and freely, try not to burden yourself or your recipients, and enjoy the company of family and friends.

About Mary Ann McGrath
Professor McGrath’s research on consumer rituals, gift exchanges, and shopping behavior is well-known and widely cited within the area of Consumer Behavior.

In recent years she has expanded her research into the international marketplace, publishing several papers related to shopping and consumer behavior in China, where she lived and taught for two years.

Read her faculty profile →

Quinlan partners with global accounting organization


"These select students can potentially earn three academic/professional credentials early in their professional careers that will be recognized throughout the world—an ACCA, CPA, and Loyola degree,” says Brian Stanko, PhD.

The Quinlan School of Business is partnering with ACCA USA to help our MSA students build their accounting careers anywhere around the world.

The partnership will enable students to earn the internationally recognized ACCA qualification in half the time, starting while they are still in graduate school. ACCA qualification is the global equivalent of a CPA in the U.S., and is sought after by employers, particularly in Europe and Asia.

Quinlan is the fifth higher education institution in the United States to partner with ACCA USA and the only partner in the Midwest. ACCA also partners with Pace University, American University, St. John’s University, and Florida International University.

Earning a globally recognized credential

Beginning in fall 2017, students in Quinlan’s MSA degree program will have to sit for only 6 ACCA exams out of the standard 14 exams that are part of the qualification process. They will have seven years to take advantage of the exam waivers.

“This is a wonderful opportunity for Loyola graduate students to not only earn a nationally ranked, AACSB-accredited accounting degree, but also to prepare for and write the ACCA examinations while working toward the completion of their graduate degree,” said Brian Stanko, PhD, chair of the Accounting and Business Law department and MSA program director.

He continues, “As a result, these select students can potentially earn three academic/professional credentials early in their professional careers that will be recognized throughout the world—an ACCA, CPA, and Loyola degree.”

Before launching this partnership, ACCA conducted a full assessment of the Quinlan MSA program’s regulations, syllabus, and assessments.

About the ACCA

The ACCA is the global body for finance professionals with 198,600 members and 486,500 students in 181 countries worldwide. They offer business-relevant, first-choice qualifications to individuals seeking careers in accountancy, finance, and management. ACCA-qualified accountants work for many leading global employers as managing partners, COOs, CFOs, executive directors, and CEOs.

“Across the globe, ACCA partners with higher education institutions to provide exceptional opportunities to prepare students for careers in finance and accounting,” said Warner Johnston, head of ACCA USA. “We are incredibly excited to begin a new chapter in Chicago with an institution as reputable as Loyola University as we continue to train the next generation of finance professionals.”

Quinlan wins regional Deloitte FanTAXtic competition


Quinlan accounting students are heading to Deloitte's national tax competition after their victory at regionals.

A Quinlan team was named as one of nine regional winners of Deloitte FanTAXtic, Deloitte’s student tax case study competition.

Nearly sixty teams representing more than 40 colleges and universities participated in the regional event on November 3-4, held at Deloitte offices across the U.S.

“I could not be prouder of this group,” says Kent Foutty, Quinlan's FanTaxtic team advisor and executive lecturer. “Not because they won, but because they worked hard, worked together, and represented Loyola in the best way possible.”

Team members are students Aidan Crehan, Julie Grembi, Nicholas Harazim, Theodora Lakic, and Andrew Newcomb.

Heading to nationals

In January 2018, the Quinlan team will compete for more than $50,000 in individual scholarships and institutional awards at the Deloitte FanTAXtic national competition taking place at Deloitte University, Deloitte’s national learning and leadership development center near Dallas, Texas.

Sponsored by Deloitte Tax LLP and supported by the Deloitte Foundation, Deloitte FanTAXtic is designed to educate and prepare the next generation of tax talent for a career in business and tax.

The interactive program includes case simulation, role playing, and presentations which provide students with insights and perspectives on challenges facing the profession today, future trends, and the overall changing business tax marketplace. Deloitte Tax LLP professionals participate in the event and offer the students support and guidance throughout the competition.

Three ways to integrate business and social purpose


Panelists discuss top tips for successfully integrating business and social purpose in today's business environment.

Nearly 150 business leaders explored the concept of “social business” at the November Leading Business for Good breakfast hosted by Quinlan’s Baumhart Center for Social Enterprise and Responsibility.

In social business, business strategy and social purpose are unified to advance the greater good, explained Seth Green, founding director of the Baumhart Center.

Three panelists represented three forms of social business: a nonprofit that drives social impact, a social enterprise, and social responsibility efforts at a corporation: 

  • Evelyn Diaz, President of Heartland Alliance
  • Ashish Shah, CEO & Founder of PreparedHealth
  • Robert Parkinson, Chairman Emeritus of Baxter International, Inc. and Chair of Loyola’s Board of Trustees

Three tips for social business

The panelists offered their top tips for successfully integrating business and social purpose in today’s environment.

1. Live and breathe the mission as a leader

“Social purpose cannot be delegated to someone else,” said Ashish Shah. As the leader, you must live the social purpose every single day as people look to you to express this, he continued.

Additionally, selecting the right set of partners becomes critical. It’s not a simple task, but if “you are aligned on a core mission and purpose, that will get you through some very difficult times,” said Shah.

2. Marry business strategy and the social sector

The social sector must think differently, said Evelyn Diaz. “We need to marry business strategy and the social sector to find the sweet spot where we are able to pursue our mission and do a better job of it by using these strategies,” she said.

The social sector is beginning to adopt business strategies such as data-based decision making, continued Diaz, but more investment is needed. Funders need to invest in business tools for nonprofits, and nonprofits need to invest in the required internal cultural change.

3. Create a compelling rationale for all stakeholders

All stakeholders can find value in social responsibility, said Robert Parkinson.

An organization’s social values contribute to its reputation in the community and to employee retention, recruitment, and motivation. “You need to connect with people’s hearts as well as their heads,” he said. Parkinson has even found that many young professionals are more interested in a company’s sustainability report than its annual report.

Investors are also increasingly looking for companies with strong social values, including diversity, inclusion, and sustainability.

“Benefiting all stakeholders creates value for shareholders,” said Parkinson.

Doing business for good

Paul Fisher, chair of the Baumhart Center advisory board, wrapped up the breakfast by expressing how excited he was to see so many business leaders at the breakfast interested in social business. 

“In my 40-year career, I have never been so inspired,” he said. He continued, saying that he sees the Baumhart Center as a unique opportunity to advance the core values of Loyola and to make a true difference in the world through business.

In early 2018, the Baumhart Center will launch three new initiatives:

  • Leading for Good conference
  • Social Responsibility Essentials
  • Nonprofit Leadership for Business Professionals

Learn more about upcoming Baumhart Center programs and events →

Breakfast photos

View event photos in the gallery below or on Quinlan’s Flickr page.

Leading Business for Good, Nov. 2017

Illinois Family Business award winners announced


The 24th Annual Illinois Family Business of the Year Awards recognize leading family businesses for their contributions to industry and community and for innovative business practices and strategies.

The Family Business Center at Loyola University Chicago’s Quinlan School of Business is pleased to announce the winners of its 24th Annual Illinois Family Business of the Year Awards.

Presented in six categories, the awards recognize companies with exceptional commitment to family and family business. The center continues to recognize deserving family businesses and celebrate the family enterprise as it has for more than two decades.

An awards gala honoring the winners and finalists, as well as the tradition, dedication, and success of the family enterprise, was held on Thursday, November 16, at 6:30 p.m. at the Four Seasons Hotel Chicago.

2017 award winners

The 2017 Illinois Family Business of the Year Awardees are:

  • Small Family Business of the Year Winner: Drapery Connection
    Watch Video →
    Finalists: A. Perry Homes, The Tranel Financial Group 
  • Medium Family Business of the Year Winner: Golub & Company 
    Watch Video →
    Finalists: Digital Check Corp., Devon Bank
  • Large Family Business of the Year Winner: Antunes 
    Watch Video →
    Finalists: Baird & Warner, Rabine Group
  • Community Service Award Winner: Handi-Foil Corporation 
    Watch Video →
    Finalists: A. Perry Homes, Abt Electronics, Rabine Group
  • Dean’s Award Winner: Carl Buddig & Company 
    Watch Video →
  • Century Award Winner: Superior Graphite 
    Watch Video →

Gala photos

View gala photos in the gallery below or on Quinlan’s Flickr page.

Illinois Family Business of the Year Awards, 2017

About the awards and gala

The awards drew nominations in six categories: Small (companies with fewer than 50 employees), Medium (50 to 250), Large (more than 250), Community Service, the Dean’s Award, and the Century Award. Those recognized have demonstrated positive family/business linkage, multigenerational family business involvement, contributions to industry and community, and innovative business practices and strategies.

The center’s inspiration for the awards program comes from its numerous nominees: successful and dedicated family businesses whose generosity, innovation, and community involvement have left powerful and lasting impressions. 

“For 24 years, the Loyola Family Business Center has been honoring and celebrating the importance of family business,” said Anne Smart, director of the Loyola Family Business Center. “From job creation to long-term, sustainable economic value—family businesses contribute to the success and vitality of our economy and communities. On behalf of our generous sponsor organizations and Loyola University Chicago, we wish to congratulate this year’s winning businesses and the families who lead them.”

This year’s sponsors include BMO Harris Bank, Katten Muchin Rosenman LLP, Wipfli LLP, MassMutual Hoopis Financial Group, MB Financial Bank, Oxford Financial Group, Perkins Coie LLP, U.S. Bank Private Wealth Management, Abbot Downing–Wells Fargo, Crain’s Chicago Business, and the Eli’s Cheesecake Company.

More information on the Illinois Family Business of the Year Awards →

Securing the future


"I think the sense of community at Quinlan is very beneficial to students," says James Fritz.

By Monica Sather | Student reporter

Quinlan senior James Fritz is a man of action. A triple major in finance, information systems, and music, he has already completed a cyber security internship at Uptake in Chicago, begun to lay the foundation for his future career at his own startup, and co-authored a research paper as an undergraduate.

Here, Fritz shares his research on the rise of the mega breach, why cybersecurity is important, and how Quinlan has aided his success.

What are you working on right now?

I just completed a cyber security internship at Uptake, a predictive analytics firm in downtown Chicago that was named the hottest startup of 2015 by Forbes Magazine. Cybersecurity is the body of technologies, processes, and practices taken to protect a computer or computer system against unauthorized access or attack.

While there, I constructed multiple data dashboards to measure various security metrics and I participated in threat exposure management training sessions in which we covered various cyber security applications. I also met the CEO, Brad Keywell, and I networked with countless people at Uptake across multiple teams.

Now I’m focusing on trying to create my own startup called SearchLight, which is a research startup that will conduct research services, including into cyber security, for other companies in the form of white papers, research papers, or data dashboards, and so on.

And then alongside that, I am practicing piano two to three hours a day.

Tell me about your research paper.

I was a research assistant for Professor Fred Kaefer and when I started out, he thought it would be a cool objective to have something published. I was interested in publishing something on cybersecurity, because it’s a topic that has been really interesting to me as of late.

Professor Kaefer and I co-wrote an explanatory paper that was published in the Journal of Applied Security Research in July on the rise of the mega breach and what can be done about it. A mega breach is an intentional or unintentional leak of sensitive information such as usernames, passwords, credit card numbers, social security numbers, etc. More importantly, a mega breach encompasses one million or more records lost.

The paper incorporates data from Privacy Rights Clearinghouse (PRC), a nonprofit that collects data on data breaches. We were able to figure out which types of data breaches have been increasing, which have been decreasing, how many records have been lost, and so on.

Our research suggests that mega breaches have become more frequent and that they have resulted in the loss of more records than ever before.

We found that from 2005 to 2015, cyber thieves have been able to access nearly 900 million records in 2,273 data breaches. Chances are, your records will be compromised at some point in your life, if they haven’t already been. 

Why is this research important?

Cybersecurity applies to every single company in the world, whether it's financial institutions or healthcare institutions.

At the individual level, if you don't take steps to protect yourself and your data, then you’re going to be a statistic in another paper that will be written in a few years. So if you're interested in protecting yourself and your personal financial information, then I think cybersecurity is something you should be worried about.

How has Loyola and Quinlan supported you in your endeavors?

Loyola is a great community in which it’s really easy to find employment to improve your communication skills, writing skills, or any other transferable skills that can be brought to work when you graduate. Loyola does a great job at helping you find work with your professors or for local Chicago employers.

What I like about the business school in particular is that faculty members are always willing to help you out and take the time to meet with you to talk. I think the sense of community at Quinlan is very beneficial to students.

Learn more

Read Fritz’s Weekend of Excellence profile →

Victory at global supply chain competition


“The win is really the pinnacle of not only our supply chain education, but our education as a whole at Loyola University,” says team member Sam Mulroe.

A Quinlan team is celebrating a major victory: taking home first place in the International Student Team Competition at the 2017 APICS conference in San Antonio, Texas.

APICS, the international association for supply chain and operations, sponsors an annual case competition that challenges students to solve complex supply chain problems.

Only 14 teams worldwide qualified for the global competition after winning their respective regional and continental competitions. Teams participating in the global competition came from the U.S., Asia, South America, Europe, and Canada.

“The original field consisted of more than 300 teams worldwide, and these Loyolans came out on top,” says Mike Hewitt, PhD, associate professor of supply chain management and the team advisor.

This was the second time Quinlan’s delegation has reached the international competition. In 2015, the Quinlan team also advanced to the global round.

Members of the 2017 winning team are Hussam Bachour, Lu Chang, Nonyelu Chukwuogo, Susan Dittmar, Jie Wie Lo, Sam Mulroe, and Hongzhe Zhang.

Journey to victory

The Quinlan team won the Chicago-area case competition in October 2016 and then the regional competition in early 2017. This qualified them to advance to the international round of the competition in October 2017.

At the international competition, teams solved a complex supply chain problem that was presented to them in the form of a computer simulation. Teams spent two days developing their solutions and then presented their work to a panel of judges.

To win, the team had to show a strong understanding of various technical aspects of supply chain management, as well as present their results in a meaningful and insightful manner to a panel of judges.

“The global competition had more rounds; rounds that were far more challenging” than the previous levels of the competition, says team member Sam Mulroe. “During the global competition, we had to interview people to gain knowledge to support our submission, and our presentations were expected to be twice as long.”

Pinnacle of their Loyola education

For Mulroe, the experience made a lasting impression.

“The win is really the pinnacle of not only our supply chain education, but our education as a whole at Loyola University,” he says. “Through the hard work of the team and the support of Professor Hewitt and other Quinlan faculty, we were able to achieve this.”

Learn more

Business Data Analytics graduate degree program welcomes first class


Students enrolled in the M.S. in Business Data Analytics program engage in group work in Professor Mary Malliaris' statistics course.

This fall, Quinlan launched a new graduate degree program in Business Data Analytics (MSBDA). Through the one-year cohort program, students are prepared to become responsible leaders in the fast-growing field of big data.

The MSBDA provides specialized, hands-on knowledge of techniques and software used to analyze data, as well as an understanding of the practical business applications of these skills.

“Our goal is to give managers who are making decisions at firms, tools and techniques to leverage data and make better business decisions,” says Steven Todd, PhD, associate dean and MSBDA program director.

Here, Todd shares some additional insights on the new program.

Who should consider this degree program?

This program is ideally suited for someone with 3 to 5 years of professional experience, with a background in a variety of subjects. People with a business, arts and sciences, or engineering degree will definitely benefit from the program.

Data is being used by all types of companies, so professionals in many industries can benefit from this degree program. Those who are currently working in groups that analyze data, or groups that make decisions related to launching new products and developing strategy, such as R&D, would find value in this program.

Why is understanding data analytics critical for today’s businesses?

Businesses have always relied on data, but today there is just so much more data and more sophisticated ways to use it to make well-informed decisions. With this reality, it’s important for individuals to have a grasp of how to work with data and how data can be used to solve problems.

What makes Quinlan’s MSBDA program stand out?

Our program sits in the business school, and is oriented towards business decision makers. This program could have been in the engineering school and oriented towards scientists, or in the Computer Science department and oriented towards programmers, but we chose to put it in the business school and hone in on business decisions. All elements of the curriculum incorporate that approach, including a capstone course where students work on a business project where real decisions are being made.

Also, the program is structured using the cohort model. By taking classes with the same 20 people, a student’s relationship with others in the program is more meaningful. We think that those network effects have value and that’s definitely another distinguishing factor of Quinlan’s program.

What are Business Data Analytics courses like?

As a full-time program, students are required to take three courses a quarter, beginning with six foundational courses, such as statistics, programming and ethics. Following the core courses, students select five elective courses based on their interests.

Our program is structured so students who are working full time can still fit this full-time program into their schedules. Each quarter, two of the three courses are on Saturday, while one course is during the week, in the evening.

Are companies hiring people with analytical skills?

We definitely know that companies are looking for these skills. Companies want employees that can work with data, analyze data, and can make decisions using data. They often even have specific software needs based on the field. For example, in the area of data visualization, companies want candidates with Tableau expertise, and these are the skills that we help students develop.

We’ve spoken to employers and have surveyed the marketplace, and we’ve seen that there’s a massive shortage of talent in the market today and a high demand for these skills.

Learn more


Supply Chain Summit explores future of industry and honors leaders


Betsey Nohe, vice president of supply chain for Morton Salt, was a featured speaker at the 2017 Chicago Supply Chain and Sustainability Summit.

Supply chain professionals from 70 Chicagoland organizations attended the 6th annual Chicago Supply Chain and Sustainability Summit on October 16, 2017.

Held at the Four Seasons Hotel in Chicago, the summit featured industry leaders from organizations including McDonald's, Morton Salt, the U.S. Department of State, and Massachusetts Institute of Technology discussing supply chain operations, sustainability, social enterprise, economic development, and other critical issues in supply chain management.

In addition to the presentations and panels, supply chain professionals and Loyola students were recognized during the summit.

  • The annual Supply and Value Chain Center Awards recognized one individual and two teams for excellence in supply chain. Read more →
  • The Supply and Value Chain Center recognized the summit’s three featured speakers by creating $1,500 student scholarships in each of their names.
  • The Loyola Business Leadership Hub awarded $2,000 scholarships to two Loyola University Chicago students thanks to the generosity of Dan Brutto. Read more →

Following the formal presentations, attendees enjoyed a reception in Wintrust Hall in the Schreiber Center, the new home of the Quinlan School of Business in downtown Chicago.

The summit is hosted by Quinlan’s Supply and Value Chain Center, a member of the Loyola Business Leadership Hub.

Event Photos

View summit photos in the gallery below or on Quinlan’s Flickr page.

Supply Chain Summit 2017

Presentation Highlights

Highlights from the summit presentations included:

  • Morning Keynote Speaker
    Kevin M. O’Reilly, Director, Office of Brazilian and Southern Cone Affairs, U.S. Department of State
    Kevin got our day started with a terrific overview of the opportunities and challenges that the United States faces with Brazil and the “Southern Cone,” which encompasses Argentina, Chile, Paraguay, and Uruguay. Kevin deftly put these into context, noting the potential impact on global supply chains.
  • Luncheon Speaker
    James B. Rice Jr., Deputy Director, MIT Center for Transportation and Logistics
    Jim presented a particularly engaging discussion about supply chain innovation — what it is, what it isn’t, and the keys to successfully initiating and implementing innovation. Among the key takeaways were that successful supply chain innovators experiment a lot (“fail fast”) and collaborate up and downstream.
  • Afternoon Keynote Speaker
    Betsey Nohe, Vice President, Supply Chain, Morton Salt
    Betsey wrapped up the presentations with a very candid and informative session on the transformation of Supply Chain at Morton Salt. She took us through their journey, from creation of the supply chain function to network restructuring, and technology implementation. She also discussed Morton’s efforts to help people through the transition, illustrating how training and encouragement enabled people to assume new roles in the organization.

Supply and Value Chain Center Awards

During the summit, the Supply and Value Chain Center recognized the outstanding performance of individuals and teams in the supply chain industry.

The 2017 Supply and Value Chain Center Award winners are:

  • Leadership Award
    Gary Rabine, CEO, Rabine Group
  • Supply Chain Excellence Award
    GEA Farm Technologies, Inc., accepted by Darrell Vander Bloomen, Vice President and Head of Supply Chain NAM and LAM
  • Supply Chain Sustainability Award
    Beef Supply Chain Team, McDonald’s Corporation

Student Scholarships

The Loyola Business Leadership Hub awarded $2,000 scholarships to two Loyola University Chicago students who plan to contribute to sustainability and supply chain improvements through their career. The scholarships are supported by the Dan Brutto Scholarship Fund.

The 2017 recipients are:

  • Susana Dittmar Fernandez, MSSCM ‘19
    Susana is in the master of science supply chain management program. She is a board member of the Quinlan Graduate International Club, as well as a member of the Quinlan Business Graduate Association and APICS Loyola Chapter.
  • Tessa Boukal, BBA ‘18
    Tessa is an undergraduate business student majoring in information systems and sports management and minoring in marketing. She is particularly interested in the use of data analytics to make better business decisions. In addition, she has an interest in using the ethical and social justice perspectives that she has gained at Loyola in her future career.

Save the Date

Join us next year on October 9, 2018, for discussion of critical issues in supply chain, as well as an expanded focus on emerging business topics. For details, join the center mailing list →

Learn More

Leading social entrepreneur visits Quinlan


Mark Hanis engaged Quinlan students in a conversation about social entrepreneurship and how to create change.

Students from across the Quinlan School of Business engaged in a lively and interactive dialogue with leading social entrepreneur Mark Hanis as part of a leadership conversation series hosted by the Baumhart Center for Social Enterprise and Responsibility.

Social Enterprise Journey

Hanis began the dialogue with students by sharing the highlights of his social enterprise journey, which originally started when he was a college student himself.

Hanis is the grandson of four Holocaust survivors and grew up hearing the mantra “never again.” Then, during his senior year, the U.S. government formally recognized the genocide in Darfur, but took no clear actions to stop it. Hanis described sitting in his college cafeteria with friends, discussing the tragedy and ultimately deciding to take action to address it.

With his peers, Hanis co-founded United to End Genocide (originally Genocide Intervention Network and Save Darfur), a movement that mobilized nearly a million supporters behind ending genocide. As Hanis described it, “A lot of people discounted us because we were young and idealistic. We wanted to show that we could lead change and make a difference on these issues as young leaders.”

After seven years leading the anti-genocide movement, Hanis went on to co-found Organ Alliance, an organization that saves lives by promoting organ donation, and the Beeck Center for Social Impact & Innovation at Georgetown University, a center that seeks to prepare leaders to drive social change at scale.

Mapping Civic Activism

Hanis’s entrepreneurial journey is still underway and he asked students for their help with his current venture. Hanis is starting a new social enterprise called Action Map, which he described as “a centralized citizen-centric platform for easy and effective action across multiple issues.”

Comparing the idea to a well-known travel website, Hanis called it “a Kayak for civic activism.” Looking out at the audience as a focus group, Hanis sought input on the idea and wanted to know if and how students might use it to enhance their social change efforts.

Students Respond to the Conversation

Students described being both engaged and energized by the conversation.

“Having the opportunity to hear directly from someone like Mark Hanis, a true entrepreneur with a focus on creating social change, was more than inspiring,” said Emily Nordquist, an MBA student at Quinlan. Nordquist went on to express her excitement for future conversations that will be organized by the Baumhart Center.

“I think events like this going forward can bring students together and provide a platform for discussing issues they care about and get to the meat of how to tackle them together.”

Learn More

Name our entrepreneurship center


Help us choose the name for Quinlan's new entrepreneurship center. Voting ends Sunday, October 22.

Help us find a name for Quinlan’s new entrepreneurship center and be entered into a raffle.

The center will provide Loyola students, staff, and faculty who have start-up business ideas the resources and guidance they need to turn their ideas into reality.

Vote or suggest a name

Vote or suggest a name on the center website, or cast your vote at the locations below:

  • Information Commons: October 17, 10:30 a.m.–12:30 p.m.
  • Schreiber Center: October 19, 12:45 p.m.–2:25 p.m.
  • Damen Student Center: October 20, 12 p.m.–3 p.m.
  • Stritch School of Medicine: October 18, 11:30 a.m.–1:30 p.m.

Everyone who votes or suggests a name will be entered into a raffle for gift cards to major establishments in Chicago. Voting ends Sunday, October 22. 

About the center

Starting a new business can be a daunting task. The new entrepreneurship center will offer 1-on-1 advising to the Loyola community and provide a mentor to help with goal-setting and accountability. Mentors will include Loyola faculty, staff, and alumni, as well as Chicago-area entrepreneurs. 


Center resources include:

  • Financial services: Explore options for financial support for startup ideas.
  • Legal services: The center will partner with Loyola’s Law School to provide legal services.
  • Access to 1871: The center will enable you to become a member of 1871, one of the premier shared office spaces in Chicago. 
  • Informational workshops: The center will offer workshops run by industry experts.

Take the next step toward launching your business idea. Start by helping name the new entrepreneurship center!

Learn more

Students honored at international marketing competition


The “ALIS” team from left: Lea Oedzes, Anna Tonarely, Irene Huang, and Shelby Koch.

By Monica Sather | Student reporter

Quinlan undergraduate and graduate students were recently recognized for their strong marketing skills in the Collegiate ECHO Marketing Challenge hosted by Marketing EDGE, an educational nonprofit committed to helping college students prepare for careers in marketing.

Two teams of Quinlan undergraduates, mentored by Professor Jenna Drenten, PhD, and a graduate team, mentored by Professor Mary Ann McGrath, PhD, bested over 200 other international teams to advance to the competition’s semi-final round, in which both Quinlan undergraduate teams earned recognition among the top five undergraduate teams.

“Their success in this year's competition is a testament to the caliber, commitment, and creativity of our Quinlan marketing students,” says Drenten. “Doing so well in an international marketing competition is an incredible and well-deserved honor for my students, and I could not be more thrilled.”

The teams build on the many awards and recognitions that Quinlan has earned over the 32-year history of the Collegiate ECHO Marketing Challenge. 

Creating a pitch

The aim of the Collegiate ECHO Marketing Challenge is to create and pitch a marketing campaign to a leading brand. In past years, sponsors have included Facebook, Microsoft Bing, and DIRECTV.

This year, the participants were tasked with crafting a marketing campaign for travel company Collette targeting Generation X consumers. The students were given a theoretical budget of $5 million.

Professor Drenten challenged all of the students in her Integrated Marketing Communications (IMC) course in spring 2017 to participate in the competition, and Professor McGrath’s students competed as a part of her IMC Campaigns class.

The students interviewed Gen Xers, analyzed tourism industry trends, developed key consumer insights, designed campaigns, and created three-minute pitch videos summarizing their campaigns.

The students submitted their pitches along with campaign reports in May, and then over the summer, senior professionals from across the marketing industry served as judges to determine the finalists from more than 200 entries. From the semifinalists, judges from Collette selected the top awardees, which were announced in July. 

Among the top awardees were undergraduate team “X Markets the Spot,” which received an honorable mention in the Market Research, Executive Summary, and Visual Summary category, and their classmates on the “ALIS” team, which received an honorable mention for Market Research, Marketing Strategy and Creative Strategy.

Testament to Quinlan’s caliber

For the students, participating in the challenge was an exciting opportunity to apply what they have learned in the classroom about developing strategy-driven IMC campaigns. 

“Each step of the way, we gained new skills including proper research methods, creative tactics, and video production,” says Margret Sittig, a member of the X Markets the Spot team. “Competing against schools across the world was an incredible opportunity made possible through an amazing professor and business school.”

The competition was a positive experience for both the students and the mentors.

“This was the first time I have ever mentored students for this competition,” says Drenten. “Without a doubt, these students have set the bar extremely high.” 

Learn More

Crain’s Chicago Business Roundtable highlights Quinlan’s Executive Education


Crain's interviewed representatives of three Chicago-area universities on how to select an Executive Education program.

Lifelong professional development through executive education benefits both professionals and organizations, says Colleen F. Reaney, Quinlan's director of Executive Education, in a recent Crain’s Chicago Business roundtable discussion.

She explains that continued training contributes to employee satisfaction, a highly educated workforce equipped to handle a variety of tasks and issues, and career advancement.

Also as part of the roundtable, Reaney and representatives from two other Chicago-area universities discussed the value of executive education programs and how to select a program. Below are excerpts of Reaney's remarks.

The right career stage for Executive Education 

“All stages,” says Reaney. "Our approach at Loyola is that anyone who's looking to advance their career portfolio with new tools and tricks should look at taking programming offered via Executive Education." She also encourages prospective students to consider executive education when looking enhance their resume or gain a new skill set.

How to pick an Executive Education program

Student should take into consideration how courses will “contribute to their professional goals and success, the convenience that course provides them in terms of time commitment and location, the program fees, and the quality of the content provided,” says Reaney. Each university representative emphasized the importance of selecting a program that is the right fit for each individual and the individual's goals.

What distinguishes Quinlan’s program 

Executive Education at Loyola offers a world-class faculty within a nationally ranked business school, says Reaney. Beyond that, the program is part of the Loyola Business Leadership Hub, which means clients can tap into the expansive global network of experts available only at a Jesuit university.

She also stressed that Quinlan’s Jesuit identity and focus on social justice produces leaders that are socially conscious. At Quinlan, there is an innate focus on “why the triple bottom line (social, environmental, financial) must be considered an essential component of all business decisions, not an afterthought,” says Reaney.

Learn more

Getting the Amazon Deal Right


Amazon’s second headquarters is a pivotal opportunity to reshape and revitalize the Chicago economy, but requires a thoughtful incentive package, writes Quinlan's Seth Green. (Image: Getty Images)

Landing Amazon's second North American headquarters would be a major victory for Chicago—but only if the incentive package is structured thoughtfully by policymakers.

Seth Green, founding director of the Baumhart Center for Social Enterprise and Responsibility, provided his insights on Chicago Tonight, WTTW's nightly news and public affairs program. Below, he offers further thoughts on the top considerations for policymakers.

Chicago Tonight Interview

Watch on the Chicago Tonight webpage or below.

Top Considerations for Policymakers

by Seth Green, Founding Director, Baumhart Center

Luring Amazon’s second headquarters to Chicago is widely viewed as the most pivotal opportunity in a generation to reshape and revitalize the Chicago economy. So it’s not surprising that the City of Chicago and State of Illinois are working together to develop the most persuasive incentive package in recent history to entice Amazon to invest here. As the bidding war gets under way, three considerations should be top of mind for policymakers.

1. Tailor the Incentives

First, policymakers need to craft a deal that is carefully and narrowly tailored to Amazon to avoid setting new precedents for other corporate deals in the future. Offering incentives to one corporation inherently risks what economists call a “race to the bottom,” where other corporations demand similar tax breaks and, before long, the government’s role in equitable and fair taxation is upended. The best way to avoid such a downward spiral is for policymakers to directly tailor incentives to the unique needs of Amazon and to tie the overall package to the unique value Amazon will deliver. The more the deal focuses on distinct needs and benefits of Amazon, the less likely another company can credibly come forward to request similar treatment.

2. Be Transparent

Second, policymakers need to ensure that all key features of this deal are communicated transparently. Ultimately, the incentives that Chicago and Illinois will be offering Amazon—such as reduced taxes—are public goods. Citizens of Chicago and Illinois have a right to fully understand the tradeoffs being made with their taxpayer dollars and resources.

3. Manage the Undersides

Third, policymakers need to develop a strategy for how to manage the undersides of having Amazon’s second headquarters in Chicago. Amazon’s overall impact would be decidedly positive, with initial estimates that Amazon would bring 50,000 jobs at an average salary above $100,000. But the gains would not be distributed equally. For example, housing prices in the Chicago region would likely to go up if Amazon came to town, displacing lower income residents. Given the City is taking dramatic action to make the deal happen, it needs a formal strategy for supporting residents adversely impacted by its intervention.

Learn more

Insuring success


"Regardless if I stay in Aon or work elsewhere, these connections will help my career in the long run," says Nicole Becker.

By Monica Sather | Student reporter

Quinlan senior Nicole Becker may still be a student but she is already benefiting from the strong professional network she has created. With the help of her network, she spent the summer in Chicago as an intern at Aon, a leading global professional services firm providing a broad range of risk, retirement, and health solutions in the world. While there, she found what might become her professional calling and expanded her network even further.

Here, Nicole shares her internship experience and how what she learned will help her succeed in her career.

How did you learn about this internship opportunity?

When I interned for the Chicagoland Chamber of Commerce, I attended their big annual event called the Burnham Dinner. At this dinner, the director of sales for Aon Risk Solutions came up to me and told me about some opportunities at Aon so I followed up with him. I went through the interview process and ended up coming into the office right before spring break last semester, and had a formal interview with about five people. I got the call with the offer two days later.

What excited you about this internship?

I didn’t know much about Aon before I learned about the internship opportunity. I did some research and found out they are the number one company in what they do. Plus, Aon is an international company, and there are a lot of opportunities to grow internally, domestically, and internationally. I decided to give it a try. It's been a huge learning process.

What did you work on at Aon?

At Aon, I was an account management intern in Aon Risk Solutions. In account management, we are basically the middleman between a client and the insurance markets. We get our clients prices on their insurance for essentially every line of coverage, including property, casualty, and cyber. It was interesting getting to learn about each policy for each line.

What have you learned at Aon?

I think the biggest takeaway for me is learning about relationships in the workforce, and learning how to create them within the industry, with clients and brokers. Learning not to burn bridges, because insurance is a very small industry. Even though it seems huge, it’s very small. You’ve got to keep those connections with everyone.

I also learned a lot about insurance. The first thing I did was read every single policy that there is and learn what an insurance policy looks like. Aon has about, I want to say, 18 to 20 coverages so I’m learning about each one of those coverages, what they offer, and what is important to our client.

What’s something you are proud to have accomplished there?

I’m really proud of my networking. Aon sets up networking with senior brokers and other personnel from each coverage line for its interns, and then I set up separate meetings as well to deepen my networking, including with the chief of staff for the CEO of Aon. I think I created some monumental connections with really cool people. Regardless if I stay in Aon or work elsewhere, these connections will help my career in the long run.

How do you think this internship will help you with your career?

In the grand scheme of things, having Aon on my resume is going to help no matter where I go. It’s an amazing company and even just getting the chance to intern there says a lot, as it is such an internationally known company. Working at Aon also definitely helped me learn how to navigate working in offices. Aon was such a positive environment for me as a woman of color, and I am now much more comfortable addressing any challenges that come my way.

With this opportunity, I also got to see a different field that I might want to pursue. I’m considering going into cyber insurance in the future because I like what it is about. It’s a new coverage line that has emerged in the past 15 years and so much is happening in cyber such as driverless cars and data breaches. 

I can’t really see myself going into anything else besides insurance. It keeps your brain working. At Aon, you always have to learn on the job; you aren’t just going through the motions. Six years in the business and you are still learning new things that are coming in. 

Quinlan ranked as top undergraduate business program


Quinlan's undergraduate business program is ranked among the top 20% in the nation and top in Chicago.

Quinlan's undergraduate business program is ranked No. 78 in the nation in the latest round of U.S. News & World Report rankings. The school is tied as the best undergraduate business program in Chicago.

Several of Quinlan's undergraduate programs also ranked well:

Also, Loyola University Chicago was ranked No. 103 in National Universities and No. 58 in Best Value Schools.

The 2018 U.S. News & World Report Best Colleges rankings were released on September 12, 2017, and rank undergraduate programs. Graduate program rankings are released annually in March.

See the full list of rankings for Quinlan →

Strengthen your alumni network at our Alumni Reception Series


Quinlan faculty and leadership will be in Deerfield, Oak Brook, and Arlington Heights this fall.

Network with fellow business alumni at our fall 2017 series of suburban Chicago receptions. Quinlan leadership will share the latest news from the Quinlan School of Business during an evening of good drinks, food, and conversation.

Deerfield Alumni Reception

Thursday, October 19 | 6 to 8 p.m.
Warehouse Eatery, 833 Deerfield Rd., Deerfield, IL 60015


  • Kevin Stevens, Dean
  • Faruk Guder, Professor, Information Systems and Supply Chain Management
  • Amy Kyhos, Senior Lecturer, Management, and Director, Quinlan Honors Program

Register now →

Oak Brook Alumni Reception

Thursday, October 26 | 6 to 8 p.m.
Ditka's, 2 Mid America Plaza, #100, Oak Brook Terrace, IL 60181


  • Kevin Stevens, Dean
  • Abol Jalilvand, Ralph Marotta Endowed Chair in Free Enterprise & Professor, Finance
  • April Lane Schuster, Clinical Professor, Entrepreneurship
  • Clifford Shultz, Charles H. Kellstadt Chair & Professor, Marketing

Register now →

Arlington Heights Alumni Reception

Tuesday, November 7 | 6 to 8 p.m.
Cooper's Hawk Winery, 798 W. Algonquin Rd., Arlington Heights, IL 60005


  • Kevin Stevens, Dean
  • Mike Hewitt, Associate Professor, Information Systems and Supply Chain Management
  • Sukhun Lee, Department Chair & Professor, Finance
  • Brian Stanko, Department Chair & Professor, Accounting and Business Law
  • Thomas Zeller, Professor, Accounting

Register now →

Nominate a suburb

Would you like us to host a reception in your suburb? We're taking recommendations. Email us at busalumni@luc.edu.

Quinlan students create business plan for Syrian catering business


“With the refugee crisis, perhaps it is easy to sit by and watch it on the news and feel helpless, but these students wanted to take action,” says Professor Linda Tuncay Zayer, PhD.

By Amanda Friedlander | Student reporter

Don’t be surprised if the next big Chicago foods trend have names like “baklawa,” “harisi,” and “atayef.”

For the past six months, a group of Quinlan students has been working closely with the Syrian Community Network, a nonprofit that helps Syrian refugees acclimate to their new home in Chicago.

With the help of Quinlan Professor Linda Tuncay Zayer, PhD, the students formed “Serving Hope,” an informal combination of leaders from Graduate Women in Business (GWIB) and Quinlan Graduate Marketing Association (QGMA), as well as students from Zayer’s consumer behavior classes.

All the students brought their own unique knowledge, fields of study, and special skills to the project, which would later become “The Sweet Syrian” catering business.

Called to action

Zayer first witnessed the effects of the Syrian refugee crisis in February 2016 while delivering humanitarian aid with marketing faculty member Eve Geroulis in Lesvos, Greece. After the trip, she attended an event at Loyola’s Lake Shore Campus, where she met Suzanne Sahloul, the executive director of the Syrian Community Network.

Sahloul shared that a group of female entrepreneurs in the network were interested in creating a catering business using their baking talents.

“I mentioned the possibility of the project to some of my students in class and to the GWIB, and the response was amazing,” said Zayer. “Students were very enthusiastic about working on a business plan for these women entrepreneurs—particularly because they were part of the Chicago community.”

Zayer made the connection with Associate Professor of Entrepreneurship Ugur Uygur, PhD, as well as student leaders:

  • Patty Shin (MSF ’17)
  • Neal Mahoney (MSIMC ’17)
  • Ashanti Tejuosho (MBA ’17)
  • Anushi Shrivastava (MSIMC ’17)
  • Hadeel Alhendi (MSIMC ’17)
  • Meghna Sharma (MBA ’18)
  • Janell Oudenhoven (MS ’17)
  • Quynh Chi Nguyen (MBA ’17)

Shin headed the operations team, which planned the logistics of creating a business in Chicago.

“There are specific restrictions and rules we needed to abide by,” Shin said. “The rules are a bit complicated.” Given their research, Shin concluded that the refugees’ best option was to work in a shared kitchen, which would provide some flexibility if they decided to grow the business or support delivery through apps like UberEats and Grubhub.

“Delivery was the hardest part to figure out because the refugees themselves were scattered throughout different areas, which made it difficult to deliver all over the Chicagoland area,” said Bana Ahdab, DDS, who serves on the Syrian Community Network board. Ahdab was the liaison between the Syrian refugees and the Quinlan students working on the marketing plan. “We also only had one or two delivery guys because most refugees don’t have cars.” 

A second team, led by Mahoney and Shrivastava, focused on the marketing aspect of the business plan. They worked to identify the current market for similar products and identify current advertising trends.

“We uncovered quickly that it’s more than just a food or dessert, it’s a story that we wanted to tell,” Mahoney said. “We recommended a kind of integrated marketing approach … going to mosques where people were already familiar with the products, but coming back to the story aspect...Making it personalized and shareable.”

The two groups worked together to create an integrated business plan which provided recommendations on operations, legal and marketing strategies. The entrepreneurs enjoyed showing off their culinary talents, which is a central part of their culture, so the students focused on making sure their business plan allowed the refugees to stay true to their roots.

Moving forward

A tense U.S. political climate in early 2017, combined with the increasingly desperate refugee crisis, added a layer of urgency to the project. “I remember when we first started in January, the travel ban was going on,” said Tejuosho, who worked with Shin in the operations group. “The day that we had our very first meeting to discuss this project, one of the [refugees] had just landed at the airport. She had gotten through the travel ban.”

Once the business plan was completed, the students presented their work to Sahloul and Ahdab, who then worked with the refugees to determine next steps. Shin says that the presentation, when they showed mock-ups for packaging and logos, is when the project became “really real.”

“When you go somewhere new, the thing that helps you most adjust is working and finding a purpose,” Shin said. "It’s got to be really scary, sitting [in their new home], wondering where their future is taking them. I’m excited that I could be a part of planning a future for them and helping them find a purpose here.”

This passion for helping others is what makes Quinlan students stand out, according to Zayer.

“With the refugee crisis, perhaps it is easy to sit by and watch it on the news and feel helpless, but these students wanted to take action,” she said. “We are grateful to SCN for working with our students in creating this learning experience and trusting us to provide our business recommendations.”

The gratitude is mutual, said Ahdab.

“We at SCN would also like to extend our thanks to the business students at Loyola. They were very helpful and definitely put the business on the right track moving forward. We are very grateful for all their work!”

“The Sweet Syrian” is en route to officially open for business by Spring 2018.

Get involved

For more information or to get involved, visit the SCN website

Dean Kevin Stevens named to Crain's 2017 Who's Who in Chicago list


Quinlan Dean Kevin Stevens

Quinlan Dean Kevin Stevens was named to the 2017 Who’s Who in Chicago Business list created by Crain’s Chicago Business. 

The annual list highlights 605 Chicago leaders doing innovative work—from Fortune 500 CEOs to civic leaders to philanthropists.

This is Stevens's second time on the list since joining Loyola University Chicago in Fall 2015, and is a testament to his hard work and dedication to the students, faculty, and staff of Quinlan.

To see the full Who's Who list, please visit Crain’s Chicago

Quinlan Career Week: September 2017


Launch your career at Career Week 2017.

Find your next internship or a career during Career Week 2017, hosted by Business Career Services. Career Week, which runs from September 6 to 21, is open to undergraduate students, graduate students, and alumni.

For complete details or to register, visit RamblerLink →

Employer Meet and Greets

September 6-15, 2017
Meet a variety of employers and recruiters from top companies, firms, and industries. Companies and their time slots will be listed in RamblerLink.

Employer Practice Interviews

September 11, 2017| 4-6 p.m.
Practice your interviewing skills in 20-minute mini-interview sessions with employers who recruit Quinlan students. Register now in RamblerLink.

Career Week Featured Speakers and Reception

September 12, 2017 | 4:30-6 p.m.
Ryan White (MSA '11), Loyola alumnus and senior manager at Deloitte Consulting, and other alumni and leaders will share meaningful insights about their individual paths in both life and career. Learn more in RamblerLink.

Extended Walk-In Hours

September 14, 2017 | 11 a.m.-1 p.m.
September 18, 2017 | 2-4 p.m.
September 19, 2017 | 2-4 p.m.
Bring your resume and meet with a Business Career Services professional during extended walk-in hours. No appointment required.

Career Fair Preparation Workshop: Branding Yourself in the Marketing Place

September 19, 2017 | 4:30-5:45 p.m.
Learn directly from a recruiter how to effectively showcase your skills, enhance your communication with employers, and dress for success. Also discuss employer research you should complete before the fair. Register now in RamblerLink.

Fall Career and Networking Fair

September 20, 2017 | 3-6 p.m. | Finance & Accounting
September 21, 2017 | 3-6 p.m. | All Business Opportunities
Meet with employers to find your next professional opportunity. Register now in RamblerLink.

On-Campus Interviews

September-November 2017
Apply for on-campus interviews with employers looking to fill internships and full-time positions. Companies and their time slots will be listed in RamblerLink.

Undergrads provide GE Transportation with invaluable insights


“This project was a great collaborative effort and a great success for both the students and GET,” says Professor Nenad Jukić, PhD. (Image: Getty Images)

By Monica Sather | Student reporter

After analyzing 14 million rows of data, Quinlan undergraduate students made two important discoveries for GE Transportation (GET) – discoveries that will help the company return its train engines back to service in significantly less time.

The breakthroughs came as part of a data visualizations and analytics project testing GET’s locomotives. GET is the largest manufacturer of locomotives for both passenger and freight trains in North America.

In recent years, several Quinlan students have been selected to participate in GE’s internship programs. GET turned to Quinlan students for this project as well, given GET’s positive experiences, says Ben Doud, a recent graduate of the Digital Technology Leadership Program at GET.

“What transpired was an exceptional effort from the students and professors to deliver visualizations and insights that gave our manufacturing teams the ability to run more effectively, efficiently, and of course, more brilliantly,” says Doud.

Partnering with GE stakeholders

Professors Nenad Jukić, PhD, and Svetlozar Nestorov, PhD, handpicked the 10 students who participated, splitting them into two groups of five divided by class year: seniors and juniors.

Beginning in January 2017, the students analyzed GET data to determine early indicators of success and failure within the engine testing data, as well as to identify how to shorten the testing process. Integral to the project was the students’ work to transform sensor data timestamps into an adjusted timeline that allowed them to compare engines based on the elapsed time of the test.

Students had weekly conference calls with GET engineers, project managers, and other related personnel to present new findings and determine where to focus their inquiry. The project concluded in April 2017, with student presentations broadcast to GE offices across the nation.

Positive experiences on both sides

Members of the GET team were impressed by the students’ drive and engagement.

“The students came with a hunger to learn and an eagerness to ask questions that resulted in a stronger, more informative product for the business,” says Doud.

According to the students, the opportunity to work with a major corporation like GE was both a resume builder and a great learning experience.

“I gained real-world experience consulting a company on their data,” says Faith Hemingway, a senior Information Systems and Marketing major who participated in the project. “It was very challenging, but I feel that it is indicative of what you would experience in your career.”

Concrete outcomes

Students offered two insights that could help GET optimize the testing process for their locomotives.

“The first result, which is something GET was unable to do before, is that we were able to visually represent the percentage of sensors within their parameters at any given time throughout the testing process,” says Hemingway. “This allows GET to monitor the engines and individual sensors for failure in real time.”

The second result the students found will help shorten the testing process. In order to do this, the students aggregated the averaged values of each individual sensor to create a moving average calculation over the timeline. They then did analysis to determine the earliest time results could be taken, which they discovered is on average 33 minutes earlier than GET originally took it, thus saving GET 501 hours a year and increasing their capacity by 15%.

Currently, GET is able to analyze approximately 912 engines a year, meaning that an increase of 15% would result in them servicing an additional 132 engines a year.

“This project was a great collaborative effort and a great success for both the students and GET,” says Jukić.

Winners in competitive analytics challenge

After the GET project ended, the student team submitted its work to the highly competitive Teradata University Network Analytics Challenge and was selected as one of ten finalists chosen to present.

The students emerged from the competition victorious: the team was selected as "The People's Choice Award for Best Presentation," voted on by all participants at the conference.   

Watch the student team explain their project and outline their career goals below or on Vimeo.

More about the victory at the Teradata Partners Conference →

The power of transformation


“I don’t think I learned anything until the moment I chose to change,” says Irene Huang, BBA '17.

By Monica Sather | Student reporter

For alumna Irene Huang, success at Loyola meant transformation.

The 2017 business graduate and native of Shanghai struggled in her first semesters at Loyola. But at the beginning of her junior year, something connected for her. She realized that she had to make a change and decided to recommit herself to school.

“I don’t think I learned anything until the moment I chose to change,” says Huang.

This transformation included her learning to use the resources Loyola offers students such as the writing center, the career center, and the library. Huang also reached out to professors for feedback and to build strong relationships that would help her excel.

Below, Huang shares the story of her transformation to inspire others to make the same positive change in their lives, especially other international students who might be struggling with living in a foreign country.

“Our time here is limited and you can’t wait,” says Huang. For her part, Huang plan to pursue a graduate degree in Integrated Marketing Communications and hopefully remain in Chicago.

Reflections by Irene Huang

Today, I share three life lessons that I learned from my college life.

I want to start off with one of my favorite quotes from Mark Lewis, who is a remarkable psychologist. He said, “The person who you’re with most in life is yourself, and if you don’t like yourself, you’re always with somebody you don’t like.” And personally, I learned this the hard way.

I'm from Shanghai, China. When I first transferred to Loyola, to be honest with you, I felt like I was a very irresponsible student. I couldn't really understand lectures and I would always get lost in class and on our Lake Shore Campus, since I was new. I didn’t put a lot of effort into my studies in my sophomore year and that was a miserable time for me.

After three semesters here at Loyola, I gradually noticed that everyone around me was growing stronger and becoming more capable of doing all kinds of things. I started to realize how awful I was to waste time here by doing nothing. I was regretful and mad at myself, so in one single moment in my junior year, I decided to begin my transformation, and I’ve made great progress along the way with a lot of professors’ help.

I’m truly grateful to all of my marketing professors, especially one who is always energetic to teach class: Professor Stacy Neier Beran. What an honor to learn from you and work with you. And one of my proudest moments was in Professor Dawn Harris’s strategic management class when our business simulation project related to travel was praised and recognized by the chief marketing officer of Airbnb.

In the end, after so many late-night papers, fun and tiring group projects, stressful exams and all kinds of challenges, I figured out that I enjoy the feeling of being excellent, of being a leader and someone who wants to make a change. Ultimately, I want to be the owner of my life. I believe we all do.

The second thing I learned is giving back. Thank you, Loyola, for giving me such plentiful experiences to learn about this world. From my engaged learning course, I learned to care about my friends, my community, and the earth we are living on. That’s what Jesuit education has taught me, too.

The third thing I learned is to pay attention to the things around you, to embrace perfections and imperfections and cherish them. I still remember the sacramental principle I learned from my theology class, “That which is always and everywhere true must be noticed, accepted and celebrated someway, somewhere, and sometime.” Here, we have the chance to recognize our accomplishments, accept the imperfections, and celebrate our transformation.

I’m lucky to be part of this open and free community. Loyola shows its commitment to us by welcoming all individuals, regardless of their faith, tradition, national origin, or immigration status. It allows me to make mistakes, make changes, and become a better person. All of the generations before me in my family didn’t have the chance to study abroad and learn things from a different perspective. I’m the fortunate one to enjoy the privilege of higher education.

I encourage my fellow graduates to be someone that you like, remember to give back, and pay attention to things around you. Even as we start a new chapter of our life, we should never forget to utilize what we learned and seek to improve ourselves. It’s time to take the next steps in the journey and begin to build our futures.

Fulbright Scholar helps Polish post office design efficient systems


Fulbright Scholar and Associate Professor Maciek Nowak (third from left) in Gdansk, Poland, with (from left) Dean Kevin Stevens and Professor Dow Scott from Quinlan, and Professor Jacek Grodzicki from the University of Gdansk.

By Monica Sather | Student reporter

Fulbright Scholar and associate professor Maciek Nowak recently returned from Poland, where he spent six months working alongside faculty at the Warsaw School of Economics to improve the logistics network of the Polish Post.

While in Poland, Nowak also co-organized the Route Optimization/VEhicle Routing (ROVER) workshop, a first-of-its-kind gathering that brought together 20 of the top North Americans and Europeans in transportation science.

Here, Nowak discusses the workshop, his research with the Polish Post, and his experience abroad.

What was the ROVER workshop?

The workshop was jointly hosted by Quinlan and the Warsaw School of Economics. We focused on some of the future research directions of the transportation science community, such as real-time vehicle routing, autonomous vehicle fleet operations, and service network design. We had 15 talks over the course of the day-and-a-half workshop.

When I was applying for the Fulbright, I envisioned this workshop as a way to draw attention to Poland and the work that is being done there. In many ways, Poland has become the logistics hub of Europe. Many people don’t realize that it is in the geographic center of Europe, affording easy access to most of the population on the continent. This has helped make Poland one of the strongest economies in the European Union, with sustained growth that is built on manufacturing and logistics. I also saw the workshop as a way to connect more of the international community with academics in Poland.

Tell me about your project with the Polish post office.

Since communism fell in Poland 30 years ago, the post office has made changes to its network, but it is still an enormous, slow-moving government institution and the biggest employer in Poland. In the last five to ten years, they have felt an increase in competition from foreign companies, like UPS, DHL, and so on. To remain competitive, they realized that they have to become more agile and efficient.

For this project, we are looking at their entire logistics network, focusing on where facilities, drivers, and trucks would best be located given the current demand on the system, while also considering potential future demand.

I had access to virtually any data I needed. I know how much they are transporting down to the letter, where it's going, how it was transported, how many people they are employing as drivers or in the warehouse, and how much all of this costs them.

It was really incredible, making my way through all of this data and matching it to the algorithm that we’ve developed to solve the problem. We’re taking into consideration things like differences in driver wages between Warsaw and Krakow, and the varying costs for the different types of trucks they use, and looking at how these impact where you locate your resources.

I’m still working on this project with a colleague at the Warsaw School of Economics and my colleague here at Loyola, Mike Hewitt.  We hope to have our initial recommendations in the next couple of months, and plan to continue this project as the Polish Post makes adjustments based on our results.

What were some key outcomes of your project?

Even though we don't have comprehensive results yet, we’ve shown the post office that there are many redundancies in their system, including instances where trucks are traveling at five percent of capacity. They need to figure out how to better utilize these capacities and resources.  

How was your experience in Poland as a Fulbright?

Incredible. It was a life-changing experience, both professionally and personally. Making the professional connections and working on this project was invaluable.

I also had the opportunity to visit quite a few universities in Poland and throughout Europe, learning how each school does things differently. For example, they use different methods to foster collaborative research between faculty within the department or university. I hope to apply some of those ideas in our department here as they could provide some great opportunities for our faculty.

And then personally, I learned more about my background, as I was born in Poland but moved when I was very young. Spending six months in Poland gave me a much better sense of what daily life is like and allowed me to experience many of the traditions that I had taken part in on a much smaller scale while growing up in the U.S. It was just awesome.

I would encourage any faculty member or student to apply to the Fulbright program. Through the Fulbright, you have the opportunity to serve as an ambassador of the U.S., connecting to such a broad range of people of different backgrounds and nationalities while being a part of a group that represents some of the best our country has to offer.  

Learn more

Leaders of Tomorrow prepare for college and beyond at Quinlan


High school students from the Central Florida Chapter of the National Black MBA Association won the case competition held at the Quinlan School of Business and a $15,000 scholarship.

This summer, high school students from 20 cities nationwide met at Quinlan for the 2017 National Black MBA Association Leaders of Tomorrow Leadership Summit.

The summit is an annual, four-day youth leadership training event, culminating with the National Business Case Competition.

“The success of this year's program was due in large part to our academic partner, Loyola University Chicago’s Quinlan School of Business," says Jesse Tyson, president and CEO of the National Black MBA Association. “They brought a holistic approach to the engagement and delivered a comprehensive pre-college experience for the students.” 

The association, which serves more than 9,000 members across 45 professional chapters, works to create educational and career opportunities for black professionals.

Four productive days

During the summit, teams of students representing their home chapters competed in the National Business Case Competition for a combined total of $30,000 in scholarship awards.

The teams presented a formal analysis of the selected MBA-level business case to a panel of corporate executives, who grilled them on business fundamentals, as well as the merit of their specific recommendation.

“Quite simply, I was blown away by the teams’ presentations,” says Geraldine Rosa Henderson, PhD, associate professor of marketing at Quinlan. “They had incredible poise and deep preparation, and presented very innovative ideas.”

Also during the summit, the students were welcomed by Quinlan dean Kevin Stevens, listened to inspiring guest speakers, participated in leadership sessions and team building activities, and took college and career tours, including a tour of the Chicago Board Options Exchange (CBOE). They experienced living on a college campus, as they lodged at Loyola’s Baumhart Hall, an apartment-style student residence on the Water Tower Campus.

“Loyola—and the Quinlan School of Business—believe in the transformative nature of education,” says Katherine Acles, Quinlan's assistant dean of graduate programs. “We are honored to help these talented students prepare for college, their careers, and perhaps even an MBA.”

In addition to the Quinlan School of Business, summit sponsors were FedEx, State Farm, and Starbucks.

Summit video

Watch a recap of the summit below or on the association’s YouTube channel.


Learn more

Research explores behavioral characteristics of Iranian investors


"There is a serious need to improve financial literacy among individual investors in Iran," says Abol Jalilvand, PhD, professor of finance.

Investors in Iran are not homogenous, exhibiting different behavior across demographic, psychological, and economic factors, says Abol Jalilvand, PhD, the Ralph Marotta Endowed Chair in Free Enterprise and professor of finance.

And like in other emerging economies worldwide, individual investors in Iran need greater financial literacy to encourage economy-strengthening investments.

These findings come from his most recent research on the behavior of Iranian investors, co-authored with M. Rostami (PhD student from Azad University, Iran) and Jeannette Switzer, PhD. The research examines the underlying behavioral and economic factors influencing Iranian investors’ decisions regarding buying and selling stocks at the Tehran Stock Exchange (TSE).  It further makes policy recommendations to improve the availability of risk capital in the Iranian economy.

For the past 30 years, Jalilvand’s research on key areas in finance such as corporate financing and investment behavior, innovation and financial strategy, risk management, and emerging economies’ performance, has been published in notable peer-reviewed journals including the Journal of Finance, Journal of Banking and Finance, Financial Management, Issues in Accounting Education, and Financial Markets, Institutions and Instruments.

Here, he discusses his current research, its findings, and its implications for industry.

Why research investors’ behavior at the Tehran Stock Exchange?

Two years ago, I was approached unexpectedly by an Iranian finance graduate student from one of the leading universities in Iran, Azad University. He had collected a large questionnaire-based data on investors’ behavior at the Tehran Stock Exchange and was thinking of testing several hypotheses on how their decisions are formed and implemented. But the work was incomplete, needing a considerable level of new empirical analysis, re-positioning, and re-writing in order to turn it into a publishable paper.

Although I was born and raised in Iran, I had not previously investigated Iranian capital markets. Also, as Iran’s overall economic prospects was showing signs of improvement, partly due to the removal of trade and economic barriers recently negotiated with major global economies, I got very interested in working on the project.

The timing of this project coincided with a serious deterioration in my mother’s health. She was 88 years old at the time. As the only child of the family, I ended up traveling frequently to Tehran to care for her medical and emotional needs before she passed away last August.

As I spent more time in Tehran, I began developing a much better and clearer understanding of the challenges and opportunities Iranian academic institutions and public and private sectors were facing. I made connections with different corporate organizations and academic institutions. I gave academic and professional seminars and workshops to universities, corporations, banks, and insurance companies.

What were your findings?

My co-authors and I wanted to find out the influence and the role behavioral and economic factors were playing in forming investors’ decisions in Iran. Specifically, are Iranian investors’ decisions formed following factors prescribed by rational economic theory or is the behavior influenced by psychological and demographic factors such as sentiments, personality, culture, gender, and age? Further, we wanted to know whether such behavioral observations are any different from those observed in other emerging and developed stock markets.

We find investors in Iran are not homogenous and their behavior are significantly affected both by economic and psychologically-related factors. Informed investors’ (fund managers and brokers) behavior appears to be consistent with the general recommendations of economic theory. They view investment knowledge and economic-related variables more importantly than uninformed (individual) investors who are more significantly influenced by behavioral variables such as sentiment and personality.

Uninformed investors’ behavior in Iran corresponds to the general profile of investors in other emerging markets. Informed investors’ behavior does not.  

The research paper is under third revision at the Journal of Business and Economics

Why is your research of interest for industry?

The recent agreement between Iran and major global powers has opened an unprecedented opportunity to encourage new start-ups, increase public and private sector investment, and forge partnerships with global industries. One of the key impediments to such an ambitious economic undertaking is individual investors’ reluctance to participate in capital (equity and bond) markets and, as a result, their overindulgence in short-term bank certificates of deposit and real estate investment. Policymakers are concerned that investors’ limited participation in capital markets will likely cause systemic bank failures, a real estate bubble, or both.

Our results show that investors in Iran are not homogenous. Individual (uninformed) investors view behavioral variables more importantly than cash flow-based measures of performance. In addition, individual investors lack the required financial knowledge and skills to properly assess their investments. An unbalanced reliance on behavioral drivers of investment will likely not lead to stable and growing public participation in the securities markets.

There is a serious need to improve financial literacy among individual investors in Iran. Financial literacy problems are not unique to Iran. It is indeed a major problem in emerging economies worldwide, exacerbated because of the recent financial crisis and markets’ continuing volatility.

From a public policy perspective, more effective regulation of products, sales, and advisory services, coupled with some basic financial education both at pre-and-post-secondary levels could improve the quality of individual investors’ decisions, increase investor confidence and participation in capital markets, provide companies with cheaper access to risk capital, and, ultimately, advance the overall economy in Iran.

How was working with a graduate student?

I enjoyed working with this young enterprising man. I found him to be a very smart, ambitious, and driven individual who cared deeply about high-quality research and his doctoral education. His work was meticulous, and his positive and forward-looking demeanor was contagious. Working with him during the past several years, I can honestly say that he has a bright future ahead in the field of finance.

Our professional relationship has since continued. I am now chairing his doctoral dissertation on the topic of value and growth firms’ behavior in adverse economic environments.

Learn more

Predictive analytics key for marketers, says professor


"Brands can use predictive analytics to determine consumer wants, preferences, and uncover early warning signs attributable to consumer unhappiness," says Professor Krasnikov. He is pictured speaking at a Quinlan event.

By Whitney Critten| Student reporter

Alexander Krasnikov, PhD, assistant professor of marketing, was a featured speaker on the "What's Next for Predictive Analytics After the Data Fails of 2016" panel at the annual Holmes Report In2 Innovation earlier this year.

The panel focused on the failure of predictive analytics to accurately forecast the winner of the 2016 presidential election has impacted the current media landscape. Krasnikov’s remarks focused on the value of social media and predictive analytics for brands in the current era of media convergence.

The panel also included Bob Pearson, president of W2O Group; Rebecca Haller, director of audience insights for Politico; and Mark Strouse, CEO of Proof.

According to SAS, predictive analytics works by using data, statistical algorithms, and machine learning techniques to ascertain the likelihood of future outcomes based on historical data. During the 2016 president election, voter sentiment or attitude towards a particular candidate was greatly impacted by the unprecedented rise of “fake news.”

Here, Krasnikov talks consumer trust in brands, how brands are using social media to track sentiment, and the value of predictive analytics for brands.

Declining consumer trust in brands

After the election, the effect that fake news had on consumer-servicing brands wasn’t felt immediately, as it took a few months for it to negatively impact consumer trust related to the content that brands were pushing through advertising and marketing initiatives on social media.

Prior to the election, consumer trust in brands on social media was already in decline as evidenced by these figures from a 2016 study by Censuswide for the Chartered Institute of Marketing.

  • Facebook: 30% of consumers say they now have little or no trust in brand content on Facebook.
  • Twitter: 25% of consumers say they now have little or no trust in brand content on Twitter.
  • Instagram: 23% of consumers say they now have little or no trust in brand content on Instagram.
  • Pinterest: 21% of consumers say they now have little or no trust in brand content on Pinterest.
  • LinkedIn: 20% of consumers say they now have little or no trust in brand content on LinkedIn.

As more consumers use social media to interact with brands and ultimately influence purchase decisions, marketers should be aware of the impact that fake news has had on brand trust and work to find creative ways to gain needed credibility that helps to repair consumer trust in brands on social media platforms.

Social media and brand sentiment

Prior to the advent of social media, brands tracked sentiment through consumer panels, focus groups, and telephone outreach among other initiatives aimed at gaining honest consumer feedback. Now most brands are using social media, more specifically social listening platforms such as Brandwatch and Meltwater to track and measure online brand sentiment.

Social media and social listening tools provide good insights and metrics for brands on consumer sentiment related to an advertisement, new product, or service. However, social media and platforms that track sentiment have certain limits and restrictions because they only measure short-term impact, and in order to accurately determine true brand sentiment the long-term impact must also be included.

Value of predictive analytics for brands

Brands can use predictive analytics to determine consumer wants, preferences, and uncover early warning signs attributable to consumer unhappiness. The key to this is continuous audience segmentation in real-time on digital and social media platforms.

Brands that are continuously segmenting audiences online will in time be able to predict consumer behavior in different situations, whether it be online or in traditional brick and mortar locations. These insights will be very valuable for brands as it allows them to be prepared for diverse scenarios, while also being able to respond to consumer demand.

Learn more

Marketing class pitches ideas to L'Oréal Spain executives, studies global branding


Students met with top executives at Grupo Ogilvy, L'Oréal Spain, and Osborne Winery during a whirlwind study abroad class in Spain.

In March 2017, graduate marketing students from Quinlan and Universidad Loyola Andalucía spent a week in Madrid and Seville, Spain, as part of a global branding class led by Professor Linda Tuncay Zayer.

While there, the class worked directly with L’Oréal Spain executives to develop and pitch ideas and a marketing plan for the L’Oreal Men Expert brand. Students also met marketing executives at Grupo Ogilvy, one of the top advertising agencies in Spain, and Osborne Winery, one of the oldest family businesses in the world.

Along the way, the class visited notable landmarks including Prado Museum, Real Madrid Stadium, and the royal palace Real Alcázar.

Trip photo gallery

View the photos in the gallery below or on Quinlan’s Flickr page.

Madrid & Seville Spain, Graduate Spring Break Study Abroad 2017

Trip video

Watch students reflect on the life-changing experience of studying in Spain below or on Quinlan’s YouTube channel.

The video was created by undergraduate student Harrison Swanson.

Learn more

Congratulations, Class of 2017!


Quinlan students celebrated their Commencement at Gentile Arena on May 11, 2017.

Experience Commencement 2017 — from Quinlan's Commencement Celebration through the Commencement Ceremony — through the photo galleries and video below.

On May 11, 750 students graduated from the Quinlan School of Business. Edward J. Wehmer, president and chief executive officer of Wintrust Financial Corporation, delivered the keynote address, and Miguel Angel Ruiz was the student speaker. This year, the first group of undergraduate students graduated from the U.S./Europe double degree program with Universidad Loyola Andalucia in Spain.

The ceremony was preceded by a multi-floor celebration at the Schreiber Center on Wednesday, May 10. 

Commencement Ceremony Photos

2017 Quinlan School of Business Commencement Ceremony

Photo gallery: View the photos in the gallery above or on Flickr.

Commencement Ceremony Video

Video: Click here if you are having trouble playing the video.

2017 Commencement Celebration 

The Great Schreiber Takeover was held at the Schreiber Center on May 10.

Event Photos

2017 Commencement Celebration

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Action Photo Booth

Quinlan Commencement Celebration 2017: Magic Moment Photo Booth

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Quinlan Honors and Awards Ceremony

On May 10, the 66th Annual Honors and Awards Ceremony was held in Corboy Law Center. Award recipients included:

Candidates for the degree Bachelor of Business Administration, Honors: Scott Blajszczak, Aaron Carlson, John Dwyer, Kevin Gadel, Jordan Goodmanson, Alaia Gorostiaga, Adam Hepp, Tosha Kadakia, Garrett Larsen, James McHugh, Allison Merkle, Derrick Morgan, Amanda Morley, Craig Paulson, Julie Putis, Mitchell Ruley, Kristen Rusbarsky, April Skillings, Conor Smith, John Ulrich


Alpha Kappa Psi Key: Colleen Ahern
Delta Sigma Pi Key: Robert Bloise

Accounting: Robert Bloise
Economics: Hannah Sawyer
Entrepreneurship: Bradley Techow
Finance: Patrick Marcoux Jr.
Human Resources: Robert Hall
Information Systems: Colleen Ahern
International Business: Silvia Fabian
Management: Christie Kochis
Marketing: Austin Tolentino
Sport Management: Jordan Goodmanson
Supply Chain Management: Caleb Kennedy
U.S. Europe Double Degree: Ignacio Garrido Cruz and Francisco De Santiago Ruiz

DEAN’S KEY: Aaron Carlson

Click here to download the full awards program.

2017 Quinlan Honors and Awards Ceremony

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Business course provides students an opportunity to work with Loyola alumni


Thomas Niman (EMBA ’09) serves as a client for Quinlan's Requirements Analysis and Communication (ISSCM 349) business course.

By Adriana Geday  |  Student reporter

Alumnus Thomas Niman (EMBA ’09) has found a good reason to return again and again to Quinlan: the current students offer “remarkable value” and “fresh insights” into issues his employer faces.

Niman, who is director of business operations and systems integration for Snap-on Credit, has served for the past three years as a client for Requirements Analysis and Communication (ISSCM 349). Taught by professors Gezinus J. Hidding and James McGee, this engaged learning class produces a report and an executive presentation about solution recommendations and detailed requirements for a particular system in a business.

In each of the three undergraduate classes, Snap-on Credit was assigned a team of students who researched requirement specifications for a Snap-on Credit project, prepared a report, and presented to Niman and his colleagues on what the particular system should do.

According to McGee, a key project goal is to provide actionable insights to client companies. Hidding adds that in the process, the students gain valuable real-world experience and an opportunity to put into action what they are learning, both of which are important aspects of the Jesuit approach to teaching called Ignatian Pedagogy.

“All of the information that has been provided by the students and all of the work that was done by the class has been extremely beneficial,” says Niman. “The students provide in-depth information and make it easy for our management team to make a decision.”

Here, Niman reflects on the valuable partnership between Quinlan and Snap-on Credit and his time at Loyola—both as a student and now as a client.

Why do you come back to Quinlan as a client?

I have great respect for the professors and the people I interacted with as a student, and this opportunity is a way of giving back to Loyola and bringing a “real” business application to the course work.

I take pride in providing students with this ongoing real-world experience—textbook theory is one thing, but how to apply it in the workforce is a different story. Anything that I can do to help make the business school experience even better and more meaningful for the current students makes my job all that more worthwhile.

How have the students helped Snap-on Credit?

This is our third time working with Professor Hidding and Professor McGee and the Requirements Analysis and Communications course. In the previous courses, we worked on an address standardization (Zip+4) project that is moving to production in February 2017, and a human resources “automated performance review” system that is under senior management consideration at this time.

The “Zip+4” project will improve the quality of our address data on a global basis, which in turn will help improve our effectiveness and reduce costs. The HR project has the potential to streamline a very manual process, and provide the opportunity for data analytics that presently does not exist.

The current project deals with improving customer service, around the world, as our customers move from one locale to another, while accounting for currency translation across six different currencies. The project touches on multiple disciplines and has a number of stakeholders both inside and outside of the organization. It allows students to pull in skills from all Quinlan coursework and apply them to this project.

How would you describe partnering with Quinlan students?

It has been an absolutely beneficial and positive partnership. The students at Quinlan are bright, inquisitive, and really dive in to try and understand from a business perspective what the project is how and how they can help our organization move forward.

Students gain invaluable hands-on experience through the partnership, and it’s tremendously beneficial for Snap-on Credit, too. Given the amount of research students do for the project, they provide insights on strategies we may have not realized. It also provides me with some understanding of who’s coming into the workforce and how equipped they are.

We will continue to partner with Quinlan as often as we are asked.

How many Quinlan graduates work with you?

At Snap-on Credit, Andy Tressler, vice president of finance, and John Watters, vice president of operations and IT, both earned their Executive MBA at Quinlan. There are many more Quinlan graduates at Snap-on Incorporated, our parent company.

Quinlan students take first place in national market research competition

Quinlan students win national market research competition

Quinlan Senior Lecturer Stacy Neier Beran, far left, stands with GfK NextGen competition winners Patricia Zhang, Maddie Doering, and Meghan Adams during their visit to GfK's offices in New York.

By Amanda Friedlander | Student reporter

Not only are Meghan Adams (’17), Maddie Doering (’17), and Patricia Zhang (’17) just the second Loyola team to take first place in the GfK "NextGen" competition, they’re the first all-female team from Loyola to win.

The competition, which is in its seventh year, is sponsored by market research firm GfK. Each year, GfK releases a list of pre-approved research topics on its website that are available for any student to pursue. Projects revolve around original market research that the students conduct using their own resources. Students can work individually or in teams, and must submit a research proposal by mid-November to be considered. If selected, the students spend the next four months creating a report of 10-25 pages, as well as a comprehensive presentation that recommends a strategy to solve a marketing problem based on their selected topic.

Any student can independently participate in the competition, but many learn about the opportunity and develop the skills they need to compete by taking Senior Lecturer Stacy Neier Beran’s market research course. The course allows students to work with real clients to understand how to design proposals, collect data for exploratory questions, understand what the clients’ needs are, and find ways to meet them. Understanding data and being able to interpret it to solve problems is especially important in “the year of the mobile,” Neier Beran says.  

This year’s winners met in the business fraternity Alpha Kappa Psi, and they decided to work together to capitalize on their strengths and varied experience levels. Adams and Zhang both fell in love with “bringing data alive” through analysis and storytelling, while Doering and Zhang were fascinated with marketing in the fashion industry. Since Zhang had participated in the competition during her junior year, she had some insight into the process of submitting a successful proposal.

After discussing the various marketing briefs outlined on the GfK NextGen website, the women decided to explore how cobranding and brand loyalty affect each other in the context of omnishopping. They investigated whether consumers reacted better to cobranding online or in-store, and predicted how that would affect brand loyalty in the long-run.

To answer this question, they created a survey to determine big-picture perceptions about shopping behaviors. They then asked 10 people to participate in a simulation game, which required participants to shop at a store of their choice and take pictures of their experience. Finally, the students sat down with participants and had an extensive in-person interview to learn more about how they felt during and after the experience.

The students found that cobranding and brand loyalty programs influence each other, and that consumers are much more responsive to cobranding efforts in-store than online.

“[We found that] cobranding was very effective in traditional brick-and-mortar stores, but cobranding efforts online are just not as strong as you would anticipate them to be,” says Doering. “Most of the time when people would online shop, they weren’t paying attention to cobranding efforts at all, but in-store it was really important to bring in new people.”

Though the proposal took less than a month, the extensive research and finalization process proved to be difficult at times. Finding correlations in the data, sticking to a strict schedule, and finding time as busy second-semester seniors to fit in a meeting were crucial to their success. At some points, they even briefly considered quitting.

It became especially challenging to work over winter break when all three women were in different corners of the world—Zhang in her hometown of Beijing, Doering in Arizona, and Adams in a remote town in Ireland.

“I had to go to my aunt’s house for wifi,” Adams says. “We did a lot of FaceTime calls, lots of Facebook messenger. Because we were all in different time zones, we had to schedule in advance what days and times were best.”

Their careful planning and hard work paid off when they received the call they’d been waiting for. Coincidentally, they were all in different places when they found out they’d won. Doering and Adams remember hearing of Zhang’s reaction from others who were sitting in Schreiber Center and witnessed Zhang and Neier “jumping up and down, hugging and screaming,” Doering says.

As part of their prize, Neier Beran and the team received an all-expense-paid trip to New York’s financial district, where they met with NextGen mentors from some of the largest corporations in the country, including Eli Lilly and Nestle. The mentors provided valuable feedback on the team’s final paper, as well as industry insights and experiences.

Adams, Doering, and Zhang credit their success to Neier Beran’s class, which laid the foundation for them to compete in NextGen, and to the values they’ve learned at Loyola.

“It comes down to curiosity and empathy,” Neier Beran says. “They are curious enough to ask questions and gain multiple perspectives, and empathetic enough to treat subject as humans rather than clinical survey-takers. I call it ‘breaking the mirror’: if you’re not digging into someone else, then you’re not digging deeply enough.”

When asked for advice for students who may be deciding whether or not to compete next year, Adams, Doering, and Zhang seem to be on the same page: “Do it.”

Chicago-based senior executive brings real-life experience to graduate business course


Brian J. Cook, top executive at USG Corporation, teaches Organizational Behavior and Human Resource Management (HRER 417) to graduate business students.

By Adriana Geday  |  Student reporter

Graduate students enrolled in Brian J. Cook’s introductory course have the opportunity to learn and apply concepts from an industry expert with more than 35 years of experience in human resources.

Cook is executive vice president and chief administrative officer of USG Corporation, a manufacturer and distributor of high-performance building systems.

This spring, Cook was welcomed to the Quinlan School of Business as an instructor, where his extensive and successful career serves as an invaluable resource for students in Managing and Motivating in the Workplace: Organizational Behavior and Human Resource Management (HRER 417).

“While I pursued my MBA I was a graduate assistant for Professor Dow Scott. It was a relationship that evolved over many years and eventually brought me to Loyola to share my experiences and teach my own HR class. I am honored by the opportunity and really enjoy teaching at Loyola,” Cook says.  

Here, Cook shares his take on current industry trends, the increasing importance of a career in HR, and the hard-working spirit of Quinlan students.

What is your take on HR trends that you’ve developed throughout your career?

My role at USG has grown from solely HR and now includes communications, marketing, USG foundation, and environmental health and safety. Similarly, I think HR has also evolved over time. Many of the things that were once done in HR are no longer done, the routine administrative tasks, for example, are now increasingly done with technology or outsourced. So, to me HR is evolving towards a focus on talent management.

This is a great thing for the industry. The HR field is more focused on what it should be: finding the right people, developing them in the right way, turning them into leaders, and helping them grow their contributions.

What do you think you can offer to the classroom at Quinlan?

My hope is to bring real-life examples to the classroom. If we are discussing certain concepts in HR that require deeper thought, I am able to show students how it’s done in a real company today. In adding practical application of the concepts, students are able to grasp the information and more deeply understand it.

What is your perception of Quinlan students?

Quinlan students are hard-working. I’m truly impressed with what I’ve seen so far in terms of how people are managing the demands of the class and testing themselves to earn this degree. I have a special appreciation for my students because class is held during the evening.  From personal experience, I know there is an added difficulty to working and studying later in the day. I really admire them for their determination.

Why do you think students should get degrees in HR?

For those interested in pursuing a degree in HR, I think it’s a central strategic component of a company’s success. Anyone who works in a large or medium-sized company can benefit from understanding fundamental HR concepts about how to manage people and correctly develop them. It’s a great career whether you are the HR person in charge or navigate a company, understanding these concepts is very helpful.

Learn More:

BBA in Human Resources

Master of Science in Human Resources

Retiring Faculty at Quinlan


Pictured from far left: Professor Jasmine Tata, Professor James Zydiak, Professor John Boatright, and Professor George Kaufman. Images courtesy of LUC Archives.

Four distinguished Quinlan professors are set to retire at the end of the semester. They are listed as follows:

  • Jasmine Tata, associate professor of management
  • John Boatright, Raymond C. Baumhart, S.J., professor of business ethics
  • James Zydiak, associate professor of information systems and supply chain
  • George Kaufman, John F. Smith professor of economics and finance

Read on to learn more about them and their individual contributions to the Quinlan School of Business. 

Jasmine Tata

Start date: 07/06/1995

Professor Tata has taught management courses such as organizational management, gender and diversity, and team management. Throughout her time at Quinlan, she’s made it a priority to establish valuable connections with her students and fellow colleagues.

Her research on key topics in management has been published in notable peer reviewed journals such as the Journal of Management, the Journal of International Business, and the International Journal of Entrepreneurship. Upon retirement, Tata hopes to travel and continue exploring different cultural and organizational systems.

Tata holds a PhD in Organization and Management from Syracuse University.

John Boatright

Start date: 08/17/1994

Professor Boatright says his proudest moment in his career came back in 1994, when he received the inaugural appointment of the Baumhart Business Ethics Chair, named in honor of Father Baumhart who was president of Loyola from 1970 to 1993. And for the past 23 years, he has served the business school and its students and with a strong commitment to ethics and always doing what is right.

Boatright has also served as the inaugural director of Quinlan’s Baumhart Center for Social Enterprise and Responsibility. His work was formally recognized back in 2012, when he was honored by the Society for Business Ethics for a “career of outstanding service to the field of business ethics.”

Outside of the classroom, he’s authored two textbooks: Ethics and the Conduct of Business and Ethics in Finance, and serves on the editorial boards of Business Ethics Quarterly, the Journal of Business Ethics, and the Business and Society Review. Upon retirement, Boatright says he will continue his life’s work in business ethics as it brings him great joy and fulfillment.

Boatright holds a PhD from the University of Chicago.

James Zydiak

Start date08/18/1988

Professor Zydiak has taught supply chain courses including Management of Service Operations, Logistics in the Global Economy, and Operations Management.

His research on key topics in supply chain has been published in notable peer reviewed journals such as the International Journal of Production Economics, the Journal of Business logistics, and the Engineering economist. And back in 1998, he was named the Undergraduate Faculty Member of the Year for the Quinlan School of Business.

Zydiak holds a PhD in Industrial Engineering and Management Sciences from Northwestern University.

George Kaufman

Start date: 01/01/1981

Professor Kaufman is the John F. Smith professor of economics and finance at Loyola University Chicago and a consultant to the Federal Reserve Bank of Chicago. And while at Quinlan, he’s made a lasting impact on the field of finance, his students, and former colleagues as evidenced from the heavily attended Public Policy and Financial Economics Conference back in November that was held in honor of his forthcoming retirement.

From 1959 to 1970, he was at the Federal Reserve Bank of Chicago, and after teaching for ten years at the University of Oregon, he returned as a consultant to the Bank in 1981. He has also been a visiting professor at Stanford University, University of California, Berkeley, and University of Southern California, as well as a visiting scholar at the Reserve Bank of New Zealand, Federal Reserve Bank of San Francisco, and Office of the Comptroller of the Currency.

He has served as the deputy to the assistant secretary for economic policy at the U.S. Department of the Treasury. He is co-editor of the Journal of Financial Stability; a founding co-editor of the Journal of Financial Services Research; past president of the Western Finance Association, Western Economic Association, Midwest Finance Association, and the North American Economics and Finance Association; past director of the American Finance Association; and co-chair of the Shadow Financial Regulatory Committee.

He has been published widely in academic journals and books. Kaufman holds a PhD in economics from the University of Iowa.


Course engages with Chicago’s microenterprise community


ACT Yoga, a previous client of the class, visits the current consulting teams and provides a concrete example of how impactful their business plans can be to small businesses — and shares some yoga poses along the way!

By Adriana Geday  |  Student reporter

For almost 25 years, students in Quinlan's Microenterprise Consulting course have been helping businesses and nonprofits in economically disadvantaged areas of Chicago succeed through tailored consulting and business plan development.

The course has cast a wide net in the Chicago business community. More than 150 organizations—ranging from organizations committed to combating food insecurity to a nonprofit beauty salon primarily serving African American women—have served as course clients.

“The true value of this course is representing Quinlan through outreach towards the community,” says Stacy Neier Beran, senior lecturer in marketing. “This course works in sync with Quinlan’s values and social justice mission.”

Neier Beran began teaching the course this semester and builds on the legacy of the previous instructors: Mike Welch and Jill Graham, course founder and professor emeritus, both from Quinlan’s Department of Management.

Learning an invaluable skill set

Each semester, student teams with an equal mix of undergraduates and graduates form a consulting team and work directly with a client organization to assess their needs. By the end of the semester, the students deliver a complete business plan and presentation.

This semester, clients include:

  • My African Toy Puzzle Truck: A company that designs, manufactures, and sells environmentally friendly durable wooden toys.
  • Karla’s Kitchen: A restaurant business centered on Belizean food.
  • Mindful Baking: A wholesale bakery serving gluten-free vegan pastries, and baked goods.
  • Revive Consignment: A women’s clothing shop designed to bring affordable new and gently used women’s and maternity clothing to Rogers Park.
  • Iconic Staff Solutions: A startup interested in providing staffing solutions for certified information technology professionals.

“At the end of the day, anybody can learn how to prepare a cash flow statement, but understanding the nuances of a consultative partnership is the core and hallmark of this class,” says Neier Beran.

Sadia Anees (BBA ’14), an alumna who participated in the course in 2014 and now works as a management consultant at West Monroe Partners, LLC, agrees.

“There's a core set of skills that this class taught me: project management, external communication, critical thinking, and teamwork,” says Anees. “It also gave me a sense of what entrepreneurship is like and the work it takes to turn an idea into a plan.”

While in the course, Anees worked with the Hair Artisan, a startup salon seeking to offer specialized services for African American hair and educational programs for young girls on how to care for and maintain their hair. Anees’ team developed a comprehensive business plan and gave their client details on the current environment, operational information, a marketing strategy, and a financial analysis.

“Each part of the business plan was carefully crafted and very detailed to fit our client's business,” she says.

A course rooted in engaged learning

The microenterprise course exemplifies the importance of engaged learning as it invites students to be in the field, working directly with the client, and making a difference in the lives of these small business owners.

“The course introduces students to the unfortunate reality of unfulfilled dreams and unsuccessful business ventures and allows them to apply their knowledge and skill set to make those dreams come true for these small businesses,” says Neier Beran.

Anees adds, “It's deeply rewarding. It's more than just a class that I took in college. The clients that are chosen for this class are people within the community that have found a need and have a vision—our role was to make that vision achievable while aligning our values at Quinlan.”

Vision for the future

As the course continues toward its third decade, Neier Beran has two major goals:

“My first goal for this course is to expand Quinlan’s relationship with the Rogers Park and Edgewater communities, which is also a key goal in Loyola’s strategic plan, Plan 2020,” says Neier Beran. “Quinlan students should be out in the Loyola community helping small businesses thrive while also establishing lasting relationships.”

“I also want to help maintain and foster the relationships with entrepreneurs we’ve helped in the past and the alumni of the course.”

Prescription drug monitoring reduces doctor shopping suggests research


"Anything that kills this many people merits strong attention from those with the ability to bring about a change," says Tim Classen, associate professor of economics.

By Whitney Critten| Student reporter

A new research study co-authored by Tim Classen, PhD, associate professor of economics, finds a strong correlation between the implementation of state managed prescription drug monitoring programs (PDMPs) and a reduction in doctor shopping for prescription opioid painkillers. The study was recently featured in Reuters and is forthcoming in the June 2017 edition of the Addictive Behaviors Journal.

Since joining Loyola in 2006, Classen has studied the economic causes and the consequences of adverse health behaviors such as obesity, suicide, and drug abuse. His current research examines whether state-based PDMPs are associated with a reduction in the abuse of prescription opioids. He is also studying whether PDMPs are responsible for the recent increase in heroin use due to the lack of access to prescription opioids— as people who are addicted to prescription opioids are 40 times more likely to use heroin.

Here, Classen discusses the study, its findings, and implications for further research.

Why study opioids and PDMPs?

In 2015, over 30,000 people died as a result of opioid overdoses— both prescription and street forms such as heroin, and since 2000, the overdose rate from opioids has more than tripled according to a 2016 study by the Centers for Disease Control and Prevention. Consequently, I feel that anything that kills this many people merits strong attention from those with the ability to bring about a change.

And so being aware of how pervasive the current opioid crisis is and how it has really devastated communities, I was interested in seeing whether PDMPs have the effect of mitigating or at least reducing, to some extent, the potential for the abuse of prescription opioids.

PDMPs are state-run electronic databases created to track the prescribing and dispensing of prescription drugs that are classified as controlled substances such as Dilaudid, Vicodin, OxyContin, and Percocet.

It’s important to note that not all physicians are as diligent as they should be when it comes to entering prescriptions into PDMP databases. This ultimately impacts the effectiveness of PDMPs as a public health and law enforcement tool.

What were your findings?

My co-authors and I hypothesized that if a link did exist between PDMPs and an overall reduction in the number of nonmedical prescription opioid users, PDMPs could be another public health tool for federal and state agencies to use in the current fight against prescription opioid abuse.

 For this study, we used data from the National Survey of Drug Abuse and Health from 2004-2014. The findings of the study are as follows:

  • PDMPs were found to have a significant effect on reducing the number of patients who engaged in doctor shopping— which is defined as seeing more than one medical provider for the sole purpose of obtaining multiple prescriptions.
  • PDMPs were found to have no effect on nonmedical use of prescription opioids that can lead to abuse, dependence, and initiation, but evidence suggests they are associated with a reduction in the number of days of opioid abuse in the past year.
  • PDMP implementation was not associated with an increase in heroin use or initiation, but was associated with an increase in number of days of heroin use in the past year. 

What are the implications for further research?

I think it would be interesting to research PDMPs as they continue to evolve. If I were to continue with this research, I would like to characterize the most beneficial features of the various state-level PDMPs, such as how frequently data should be collected in order to reduce prescription opioid abuse.

Currently, PDMPs are in every state except Missouri and function differently depending on the state and its guidelines on data collection and mandated reporting. I would look to Oklahoma as a model for PDMPs as the state happens to have a well designed data collection system.

I also think that it would be interesting to study street opioids such as heroin and illicitly made fentanyl as overdoses from these drugs are on the rise when compared to prescription opioids, which have begun to level off as of late.  

Obviously heroin is not within the scope of a pharmaceutical product, but the expanded availability and the demand for it, due to substantial decreases in the price of heroin, would be something to be studied. 

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Quinlan celebrates commencement on May 11


New graduates celebrating after the May 2016 commencement ceremony.

Congratulations to the Class of 2017! This academic year, 478 undergraduates and 310 graduate students applied for graduation.

Graduates and their guests will travel to the Lake Shore Campus for the commencement ceremony on Thursday, May 11, with an alumni reception afterward. In the evening, they are invited to return to the Schreiber Center for Quinlan's commencement celebration.

Commencement Details

Thursday, May 11 at 10 a.m.

Gentile Arena at the Lake Shore Campus

All ceremonies will be broadcast live online.

More on the 2017 Commencement Ceremony →

Social Media: #LoyolaChicago and #LoyolaQuinlan

Celebrate commencement with us on social media! Use the #LoyolaChicago and #LoyolaQuinlan hashtags to follow along and share your photos.

Follow Quinlan on Facebook, Twitter, and Instagram for news and photos.

Quinlan Commencement Address

Edward J. Wehmer will deliver the Quinlan commencement address. As the founder, president, and chief executive officer of Wintrust Financial Corporation, he oversees day-to-day operations and strategic initiatives.

Founded in 1991, Wintrust is a financial services holding company based in Rosemont, Illinois, with banking assets of approximately $26 billion— the second-largest bank group headquartered in Illinois.

Study abroad in Mexico immerses students in local business culture


A class photo in Guadalajara, Mexico.

In March 2017, 13 graduate students spent two weeks immersed in the business culture of Mexico as part of a global and comparative employment relations and human resources management course led by professors Peter Norlander and Arup Varma.

Here, Quinlan graduate student Alexandra Hanson, MSHR ‘17, discusses her time abroad.

Reflections on our study abroad trip

When I initially signed up for this trip, I was a bit hesitant as to how the trip would go due to the current contentious relationship between the United States and Mexico. However, upon arriving I must say that my fears never materialized.

Once we arrived at our host university—Iteso, Universidad Jesuita de Guadalajara—we quickly met the students, faculty, and staff there. And they definitely went out of their way to make us feel welcome, as they hosted delicious lunches, dinners, and scheduled on-site visits with local companies. I can honestly say that these rich interactions exposed me to the local culture in Guadalajara, Mexico.

On-site visits

Prior to this trip, I had never been aware of the prevalence of engineering in Mexico, as their density is higher than that of the United States. And so after we got settled, I was excited to learn that we would be touring Intel, Continental, and Sophia—leading global corporations with excellent recruitment and talent development practices.

One of the first things I remember about touring these local companies was being really amazed by the design and overall scope of their facilities. I had no idea that Mexico had some of the largest design centers in the world. I was also really enamored with the natural beauty of each company we visited--they were so nice that sometimes I forgot I was actually in a work environment.

The three on-site visits provided insight on the different approaches to business in Mexico with regard to employment relations and human resource management. After these on-site visits, in class we would discuss what was different and what was similar to gain a better understanding of the global landscape of employment relations and human resource management

Host University

The ITESO campus was so unlike college campuses in the United States, it’s actually a botanical garden and is one of the main attractions of the school. The picturesque scenery, along with the copious amount of open outdoor space designated for students make the environment seem way less stressful than that of a traditional college campus.

The professors were also extremely willing to go out of their way to work with students and in our case their guests. They happily took time out of their schedules to give us extra lectures, invite us into their classrooms, and attend events to get to know us one on one. I do not think that they could have been more welcoming than they were to us, and I would not hesitate to go back to Guadalajara in the future—whether it be to attend school there, go for work reasons, or to simply visit as a tourist. 

Final thoughts

This trip really opened my eyes to the hidden side of Mexico, and really made me change my worldview, which is especially important given the current relationship between our two countries. 

Trip Photo Gallery

View the photos in the gallery below or on Quinlan’s Flickr page.

Guadalajara, Mexico Spring Break Study Abroad 2017

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Nonprofit created by MBA student supports Colombian public education


Founder Emanuela Rossi, BBA '16, in Colombia last summer.

By Whitney Critten |  Student reporter

Inspired by childhood summers spent in her mother’s home of Colombia, graduate student Emanuela Rossi, BBA ’16, founded 1064 Givers— a nonprofit organization that seeks to support Colombian public schools’ efforts to offer K-12 students a safer and more sustainable environment where they can thrive.

Rossi first became involved with public education in Colombia after volunteering as an English teacher at Institucion Educativa Enrique Olaya Herrera in 2013.

“This first-hand experience showed me how the Colombian school system worked and also showed me how the lack of infrastructure negatively impacted how students learned,” says Rossi. In addition to founding 1064 Givers with Genta Mecolli, BA ’16, in fall 2015, Rossi is the president of the International Business Society within Quinlan’s Center for International Business while Mecolli is a graduate student at the University of Chicago.

Here, Rossi discusses 1064 Givers, public education in Colombia, and how support from Quinlan is helping 1064 Givers achieve its mission.

How does 1064 Givers work?

1064 Givers is a 501(c)(3) nonprofit organization that raises funds primarily through public donations and occasionally through special events. All funds go to public schools in Colombia to improve the environments in which students learn, through actions such as installing solar panels so students can have electricity at school.

In addition to founding 1064 Givers, Rossi and Mecolli created 1064 Co., a benefit corporation to raise capital for 1064 Givers through the selling of unique, handmade goods such as bracelets, bags, and purses online and at special fundraising events. 1064 Co. is allocating 20 percent of profits generated from sales to further the mission of 1064 Givers.

Currently, e-commerce operations are on hold due to a successful fundraising event at Quinlan back in February, in which 1064 Co. sold out of its inventory. However, founders Rossi and Mecolli say they hope to have more inventory very soon.

What’s the significance of the name?

The name comes from Colombia’s education law 1064, which was passed in July 2006. This law guarantees all Colombian children the right to a technical education that equips them with labor skills upon graduation of high school. These job skills will help millions of low-income Colombian students pull their families out of poverty.

And while the law made improvements to public education in Colombia, 1064 Givers intends to help more students achieve their dreams by improving classroom conditions that might otherwise distract students from learning such as lack of electricity and overcrowding.

Rossi adds, “While access to a technical education is wonderful, we believe that Colombian students also need access to a professional education so that they can become doctors, lawyers, or engineers.”

What are the next steps for 1064 Givers?

Rossi and Mecolli have been in consistent communication with a few Colombian schools, their students, and the parents of the students.

“We have made this a priority because in order to have a lasting impact in Colombia, we need stakeholder engagement and strong community support to solve the issues facing Colombian public schools,” says Rossi.  

Recently, 1064 Givers received formal approval from the State of Illinois to operate as a 501(c)(3) nonprofit organization. Currently, Rossi and Mecolli are in the process of organizing next steps, but remain very excited and hopefully about their organization.

How has Quinlan helped 1064 Givers?

Rossi and Mecolli have received input and guidance from multiple Quinlan professors, including Ugur Uygur, John Caltagirone, Peter Norlander, Dawn Harris, and Eve Geroulis.

“Their input allowed us to see and think with different views and perspectives, and helped to develop our strategic strategy, reflect on mistakes, and ultimately how to make the necessary adjustments to improve 1064 Givers,”  says Rossi.

Rossi adds, “We’ve also received assistance with fundraising initiatives from Professor Mine Cinar, the International Business Society, the Quinlan Graduate Office, as well as The Graduate International Club.”

New partnerships with CFA and CAIA bridge gap between academia and industry


“For the students who do take full advantage of these new partnerships, the sky’s the limit on where they can go in their careers,” says Abol Jalilvand, PhD, professor of finance.

By Whitney Critten |  Student reporter

On March 28, 2017, the Quinlan School of Business held a signing ceremony to commemorate new partnerships with the CFA and CAIA—two leading professional organizations in the finance and investment industry. As part of these new partnerships, the CFA and CAIA vetted the curricula of Quinlan’s undergraduate and graduate finance programs to ensure that it adequately prepares students to take their challenging external certification exams. 

“It’s our responsibility as a leading business school to make sure that our students are not only trained conceptually, but are also trained professionally for the practice of business and finance,” says Abol Jalilvand, PhD, professor of finance and Ralph Marotta Chair of Free Enterprise at the Quinlan School of Business.

“These partnerships will help us bridge the theory-practice gap and prepare the next generation of women and men equipped with the highest ethical responsibility and financial acumen,” Jalilvand says.

In addition to the CFA and CAIA partnerships, Quinlan is one of 35 graduate finance programs officially designated as an academic partner of the Global Association of Risk Professionals (GARP). Learn more about Quinlan’s finance partnerships →

The need for professional certification in finance

According to Jalilvand, in the past, companies would hire students with limited practical knowledge, and invest time and resources to help and train them on professional standards required to work in business. However, companies have generally stopped providing such training in recent years primarily due to cost consideration.

Graduates are now turning to respected external certification exams, like those offered by CFA and CAIA, to increase their practical knowledge and differentiate themselves.  

Benefits of professional certification

Students applying to take the CFA or CAIA external certifications exams will receive mentoring and additional support from Quinlan faculty. And those who earn these external certifications can expect increased employability, and a better understanding of business standards in the investment and finance industry.  

“For the students who do take full advantage of these new partnerships, the sky’s the limit on where they can go in their careers,” Jalilvand says.

Leadership from the CAIA and CFA

“Loyola University Chicago and its Quinlan School of Business are among the finest institutions of higher learning in this country, and we could not be more pleased to be partnering with them as they help their students not only keep pace but also help dictate the course of the next phase in the development of the alternative investment industry,” said William Kelly, CEO, CAIA Association.”   

Peter Mackey, head of examination development at the CFA Institute adds, “The CFA is interested in working with world-class business schools, such as Quinlan to produce the next generation of ethical and honorable investment analysts, with a strong understanding of industry. Therefore, this partnership is essential to reach these students during peak learning opportunities.”

Both Kelly and Mackey look forward to the partnership and working with Professor Jalilvand and Quinlan’s finance department for years to come.

Event photos

View the photos in the gallery below or on Quinlan's Flickr page

The Future of Business Education

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Climate change in poor countries negatively impacts tourism


"Economic development and the formation of small-scale business is an essential tool needed to resolve problems associated with poor countries and emerging markets," says Cinar.

By Whitney Critten |  Student reporter

“The world has over 190 countries, and most, if not all of them, are experiencing the negative side effects of climate change,” says Mine Cinar, PhD, professor of economics at the Quinlan School of Business.

However, poor or developing countries such as India, Guatemala, and the Philippines have it worse because climate change is destroying the natural landscape and scenery of these countries, which ultimately impacts tourism revenue. And for most developing countries, the tourism industry employs its people and brings much needed revenue to support social programs.

Over the past 30 years, Cinar has used her research as a tool for change by bringing attention to issues, which otherwise would have received little to no recognition in academia or industry. Currently, she’s researching two topics: the first being the economic impact that climate change has had on poor countries.

The second being analyzing attitudes toward work and job creation in the European Union with regard to the recent immigration of North African migrants to the region. 

Here, she discusses her two current research projects, her teaching style, and her love of Quinlan students.

Why focus on climate change and the European Union crisis?

Both are highly publicized current events in dire need of effective practical solutions. My research examines the impact climate change has had on coral reef and pollution across the world, and how it effects poor countries that rely on tourism.

In poor countries, tourism revenue is needed, but the environment is destroyed. I used game theory to come up with actionable solutions to help the people of these countries. One of my published research studies related to climate change in poor countries examined the damages and benefits of the environment to stakeholders in Indonesia and the Philippines.

My research on the European migrant crisis attempts to find out why young males from North Africa are migrating to rich European Union countries in mass quantities. Is it for employment or for political asylum? If the cause is derived from lack of employment, my research looks into what economic policies can be introduced in North Africa to stimulate small-scale employment to create needed jobs for young, male migrants there. 

Why is this of interest to businesses?

Economic development and the formation of small-scale business is an essential tool needed to resolve problems associated with poor countries and emerging markets. Small-scale business generates around 90-95% of jobs in the world and 70% of new jobs in the United States.

Therefore, it’s critical for businesses to realize the power they hold in combating global poverty by employing members from local communities. 

What makes your research relevant to Quinlan students?

Quinlan students want to find business solutions to the world’s current greatest challenges, such as poverty, inequality and income, and terrorism, and so do I. My research, along with my teaching style, is rooted in providing winning business solutions to current real-world global challenges. In the classroom, I use my research, along with textbooks and lectures from alumni, to show students how they can find practical business solutions to the world’s greatest challenges. Sole reliance on textbooks isn’t sufficient.

How would you describe Quinlan students?

They have good hearts, and want to solve the fundamental problems of the world. I truly adore them!

Leaders spoke to corporate responsibility at inaugural event


Alain Turenne, division vice president of corporate social responsibility and product integrity for Walgreens Co., presents at the Baumhart Center's 2017 Leadership Series.

By Adriana Geday  |  Student reporter

Corporate, government, and Loyola leaders headlined the inaugural Leading Business for Good speaker event hosted by the Baumhart Center for Social Enterprise and Responsibility.

The Baumhart Center brings together top leaders to bridge the theory and practice of progressive social responsibility.

Nearly 80 people attended the breakfast event exploring how to succeed in business while being socially responsible. Featured speakers were:

  • Alain Turenne, Division Vice President of Corporate Social Responsibility and Product Integrity for Walgreen Company.
  • Lisa Morrison Butler, Commissioner of the Chicago Department of Family and Support Services (DFSS)
  • Rev. Michael J. Garanzini, S.J., Loyola’s Chancellor and Secretary for Higher Education for the Society of Jesus

Quinlan as a hub for socially responsible entrepreneurship and business practices

John Caltagirone, Founding Director, Loyola Business Leadership Hub, and Kevin Stevens, Dean of the Loyola Quinlan School of Business, welcomed attendees and described Quinlan’s role in leading innovation, research and education in developing and supporting socially responsible business practices and market based strategies to resolve social and environmental issues.

“The launch of this leadership series demonstrates to enterprises in Chicago and around the world that partnering with them is a key part of Loyola’s mission as a business school,” says Stevens. “You are welcome here.”

Loyola President, Jo Ann Rooney, JD, LLM, EdD, added,“The Center’s mission underscores our institutional commitment here at Loyola to build a more just, humane, and sustainable world. Together, we have much to do.”

New role for Jesuit higher education

The Rev. Michael J. Garanzini S.J., discussed corporate responsibility and the role of Jesuit education in a world that he describes as “increasingly fragmented and contentious.”

He suggests that Jesuit universities have long prepared men and women to enter this world with a moral compass, where the truth exists and can be discovered.

“Our job now is to discover the truth of both sides and bring both sides together, so that together, we can work on solutions,” says Garanzini. “It’s a new way for us to think.”

“At the Baumhart Center, we have the ideal situation for bringing together those with different agendas and concerns to explore their positions with an open mind and to work through solutions. This Center may be the best thing the business school could do in these times.”

Social responsibility at the center of business

Alain Turenne outlined Walgreens’ approach toward corporate social responsibility, touching on the corporation’s key goals, partnerships, and strategies.

“Our CSR mission is built around the community, the environment, the market place, and the workplace,” says Turenne. “We aim to be a responsible neighbor, to protect our environment for future generations, to do business fairly and with integrity, and to treat our people with loyalty and respect.”

“As a large organization, we operate in a world where social corporate responsibility is a way of doing business, it’s not an option anymore,” he says. “We do good by doing good business.”

The final speaker, Lisa Morrison Butler, Commissioner of the Chicago Department of Family and Support Services (DFSS), challenged corporations to move beyond their mission to improve the lives of those they touch.

“At DFSS, we’re not attempting to solve or package or deliver solutions. We are instead sitting with, listening to, and partnering with people,” says Morrison Butler. “We have had to embrace the idea of complexity to be able to make a difference in the lives of those in need.”

Event photos

View events photos in the gallery below or on Quinlan’s Flickr page.

Leading Business for Good, Feb. 2017

Future events

The Leading Business for Good leadership series will continue on August 1 and November 7, 2017.

Event details will be announced on the Leadership Series event page. For more information or to partner with the Baumhart Center, contact Carolyn Ogrey at cogrey@luc.edu.

Academic Innovation Team encourages new programs at Loyola


"The only way to attract and retain top tier students is to create in-demand and purposeful academic programs that meet the needs of society and the marketplace," says Phillips.

By Whitney Critten |  Student reporter

“As a university, it’s our job to challenge our students to think critically about the world’s greatest problems—such as poverty, climate change, terrorism, and healthcare—and how they can use what they’ve learned at Loyola to become leaders and effect real change in the world,” says Joan Phillips, PhD, Quinlan professor and associate dean.

Phillips is chair of the new Academic Innovation Team at Loyola, which will support faculty and staff in the creation of new and innovative academic programs. Specifically, the team helps faculty and staff create strong proposals for new academic programs by coordinating existing resources at the University. After the proposals are written, the team evaluates them and submits funding recommendations to the Office of the Provost.  

Phillips has been a member of Quinlan’s marketing faculty since 2008, including serving as a graduate program director and department chair, before being appointed associate dean in 2016. Prior to her appointment, Phillips spent the 2015-16 academic year as an American Council on Education Fellow, where she studied change management as she shadowed top leadership at Purdue University Calumet and Purdue University North Central as these two universities merged to become the new Purdue Northwest.

It was during this appointment that she also had the opportunity to travel to interview over 135 senior leaders at more than 35 diverse higher education institutions.

Here, she discusses how the Academic Innovation Team will serve Loyola.

What is the Academic Innovation Team?

The Academic Innovation Team will help Loyola’s academic leaders create programs that directly meet the needs of a changing, more diverse world and the problems that come along with it. Experts from throughout the University will provide a holistic review of program proposals in key areas critical to academic program development such as market analysis, enrollment projections, diversity and inclusion, budgeting, and staffing requirements.

Central to this team is a focus on how Loyola can best educate the next generation of college students and help them meet market needs and become change agents, regardless of their profession. By doing this, the university hopes to stimulate innovation.

When is the team involved in a proposal?

The process starts with ideas generated by faculty members who have insights into what students want to learn and what the market needs in terms of another academic program.

Next, faculty members present their program idea to the dean of their school for approval. If the dean approves, he or she will refer the faculty members to the Academic Innovation Team for further help in developing a strong proposal.

What makes a good proposal?

Proposals that have a strong rationale and do a good job of explaining how the proposed new program is different from others currently offered at Loyola is key. We’re really looking at the market analysis, program outcomes related to knowledge and skills gained, and what resources, such as faculty and staff, are needed to make a program come to fruition.

The Academic Innovation Team is also looking at how the proposed program aligns with the goals of Plan 2020, the University’s strategic plan for building a more just, humane, and sustainable world.

Why is the team’s mission important?

This initiative is very important for current and especially future students of Loyola as we look to attract those with a strong commitment to innovation, social justice, and faith.

The only way to attract these students and propel Loyola into the future is to create in-demand and purposeful academic programs that meet the needs of society and the marketplace. 

Learn More

Graduate marketing association gives back to non-profit organization based in Kenya


QGMA team from left: Karl Kullathawat, Wenhan Yu, Nicole Lawrence, Icela Marie Diaz. Not pictured: Keegan De Silva, Anushi Shrivastava and Ava Chen. (Photo by Duo Yu)

By Adriana Geday  |  Student reporter

The students in Quinlan’s Graduate Marketing Association (QGMA) are committed to giving back to the community. 

This year, their commitment took the form of providing branding and marketing assistance to two education clients—School of Hope and Senn High School—under the guidance of Associate Professor Lauren Labrecque, PhD.

School of Hope is a Chicago-based organization that raises funds for St. Aloysius Gonzaga High School in Nairobi, Kenya. The school provides a holistic education for children who have been affected by AIDS or have a family member that has been directly affected.

“We knew this would be a great opportunity for QGMA members to get hands-on experience and at the same time aid a non-for-profit organization, whose values are very aligned with the Quinlan brand and everything we do as a business school,” says Icela Marie Diaz graduate student and project lead.

A project turned passion

School of Hope needed a comprehensive communications and rebranding plan to announce an organizational name change and let people know they still supported St. Aloysius Gonzaga, explains Diaz.

Eight graduate students were tasked with developing a brand recognition and communications strategy and presenting their positioning proposal to School of Hope last December at 1871, Chicago’s leading hub for tech startups. The organization’s regional director, Jeff Smart, was so pleased he gave QGMA a call for further assistance.

The team is now working on the School of Hope’s visual identity, online presence and creating their communication plan. Next steps include creating a marketing and tactical plan on how to consistently communicate with their audiences, says Diaz. This includes a new website, a logo, and other marketing materials.

“Our goal is to make the entire communications plan for this organization amazing,” says Diaz. “We don’t have the pressure of finances, because this is much bigger than money. We are trying to help children in need go to school, and there is nothing more rewarding than helping others.”

A humbling partnership

GQMA’s partnership with School of Hope has been rewarding for both parties. Jeff Smart and the Rev. Terry Charlton, SJ, a Jesuit from Chicago running the school in Kenya, have both expressed their gratitude to the student group.

“It has been a pleasure to collaborate with the Quinlan Graduate Marketing Association to rebrand our School for AIDS orphans and vulnerable children,” says Smart. “With their help, we will be in a better position to share our story with a broader audience.  I am very grateful.”

Diaz adds, “We’re so happy to be working together with this organization and have the opportunity to work with real people and making a real difference. We work hard to make the School of Hope proud.”

The QGMA also partnered with Senn High School to create a brand logo and virtual identity. Recently, the student group joined with the Graduate Women in Business and Entrepreneurship clubs on a project to create a business plan for a food company being started by Syrian refugees in Chicago.

Get involved

For more information or to get involved, visit the QGMA website or contact Neal Mahoney or Icela Diaz.

EMBA program highlighted in Crain's Chicago Business Roundtable Discussion


Crain's turned to four Midwestern universities for advice on how to evaluate EMBA programs and how to choose the best program.

A quality Executive Master of Business Administration (EMBA) program provides "an educational experience that's fueled by emerging business trends, rigorous real-world academics, and collaborative learning," says Pamela McCoy, associate dean, in a Crain's Chicago Business roundtable discussion of EMBA programs.

Through the roundtable, McCoy and representatives from three other Midwest universities discussed the value of EMBA programs and how business professionals can select the program best suited to their career goals.

How to pick an EMBA program

"We recommend evaluating programs on six points: reputation, fit with personal goals, fit with professional life, connections, affordability, and return on investment," says McCoy. She also encourages prospective students to consider nuances including structure, culture, curriculum, and student-faculty interaction.

What is different about a Quinlan EMBA?

McCoy stressed what makes a Quinlan EMBA different: a real-world focus with a unique educational framework derived from a 500-year Jesuit tradition of teaching excellence.

She also highlighted the convenience of the program structure for working professionals. Quinlan's EMBA is the only program in Chicago delivered in a hybrid format that integrates in-person and online instruction. Quinlan also offers a Health Care Management program that is the only industry-specific EMBA in Illinois tailored for working healthcare professionals.

Quinlan graduates are "innovative problem solvers who understand good business practices and have the personal intellect, skill, and courage to deliver them," McCoy adds.

Read the full roundtable discussion →

Learn more

Technology decreased wages of unskilled workers in Central and Eastern Europe, says research


"My research helps students understand the actual benefits of trade liberalization and also comprehend the challenges of living in a globalized world," says Díaz.

By Whitney Critten |  Student reporter

Trade tends to be beneficial for countries that engage in it, says Julián P. Díaz, PhD, assistant professor of economics. At the same time, it generates distributional effects that cause some people to win, while others lose.

His research on international trade and macroeconomics assesses the impact that trade has had on the transition economies of Central and Eastern Europe countries (CEE) that joined the European Union in 2004 and 2007. These countries transitioned from communist systems to market-oriented capitalist economies in a short span of time.

Díaz’s research on trade has been published in notable peer-reviewed journals, such as the Journal of Comparative Economics, the Southern Economic Journal, Economic Inquiry, and the Journal of International Money and Finance.

Here, he discusses his current research and why his findings are important for industry and Quinlan students.

What are you currently researching?

I am currently working on two projects with Sang-Wook (Stanley) Cho, a senior lecturer at the University in New South Wales in Sydney, Australia.

Our first project looks at what factors have impacted the recent changes in the skill premium—the difference between the wages of skilled and unskilled workers—in CEE economies, and determine whether trade has played a substantial role in its rise.

Our second project examines how trade increased in the three Baltic States: Estonia, Latvia, and Lithuania after they and their fellow CEE countries joined the European Union. In particular, we investigate what types of goods dominated the trade increases and how these countries were able to outperform other CEE countries.  

What are some key findings from your research?

One of the main findings from our first project is that the most important factor in the decline of the wages of unskilled workers is technological change in the form of computerization and automation.

Regarding our second line of work, we’ve found that the three Baltic States implemented aggressive and comprehensive trade liberalization reforms that greatly benefited their trade operations. We’ve also found that these countries increased their shares of  goods that were traded in very low volumes before opening, vastly outpacing the performance of other CEE economies in that dimension.

Similarly, the three Baltic States also experienced large increases in least-traded imports, which in turn benefits Baltic consumers because they now have a wider variety of products at their disposal.

Why is your research on trade of interest to the business community?

Our findings on the way trade expands after trade liberalization occurs showcases how it creates significant opportunities for producers to sell their products in new markets.

Why is your research important to Quinlan students?

My research—and the research of other prominent economists that I present in my classes—helps students understand the actual benefits of trade liberalization and also comprehend the challenges of living in a globalized world.

Moreover, given the findings that technological change seems to disproportionately benefit skilled workers (and hurt unskilled ones), I emphasize that the best way to prepare themselves for the future is to acquire a diverse and broad set of skills.

Quinlan ranked as Top 3 part-time MBA in Chicago


The latest U.S. News rankings placed Quinlan's part-time MBA program among Chicago's top 3 programs and 57th in the nation.

Quinlan's part-time MBA program continues to be ranked among Chicago's top 3 programs in the latest rankings from U.S. News & World Report.

For 2018, Quinlan's part-time MBA comes in at No. 57 out of 301 programs. Meanwhile, Quinlan's supply chain master's program was ranked No. 20 in the nation and graduate accounting program was ranked No. 28.

The 2018 U.S. News graduate programs rankings were released on March 14, 2017.

See the full list of rankings for Quinlan →

Quinlan Ramble visits leading New York City companies


Quinlan students attended the New York Stock Exchange opening bell and toured the trading floor as part of the Quinlan Ramble over spring break.

Sixteen undergraduate students spent their spring break visiting leading companies in New York City during the fourth annual Quinlan Ramble.

The Quinlan Ramble enables students to connect with Quinlan alumni and learn about the business community in another part of the United States. Previous trips visited the San Francisco Bay Area, Seattle, and the Texas cities of Austin and Dallas.

In New York City, the students visited nine companies in five days:

  • The Blackstone Group, LLC
  • Bloomberg
  • KPMG
  • Macy’s
  • Madison Square Garden
  • New York City Mayor's Office
  • New York Stock Exchange
  • Revolt Media
  • Time Inc.

In addition to the company visits, the students explored New York City, including taking a cruise around Manhattan Island and past the Statue of Liberty. They also attended the Broadway production of The Lion King and a live taping of The Late Show with Stephen Colbert.

"We were all sad to leave this beautiful and lively city of New York and our fellow Loyola classmates and faculty who have all made this trip an extraordinary and unforgettable experience!" wrote student Tessie Li Ruo Lin (’19) in the Quinlan Ramble blog.

Quinlan Ramble photos

View photos from the Quinlan Ramble in the gallery below or on Quinlan's Flickr page.

Quinlan Ramble 2017 to New York City

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Recent graduate launches career at innovative digital agency


"Growth is the most important thing to me, so I am focused on developing all the skills necessary to help me succeed in the digital field," says Peter Archibald, BBA ’16.

By Whitney Critten |  Student reporter

Recent graduate Peter Archibald, BBA ’16, launched his career with the hands-on support of his Quinlan instructors and the practical skills he gained in the classroom.

While a student at Loyola, Archibald established a strong bond with Senior Lecturer Stacy Neier Beran, who helped him land a social strategy and activation internship at Hyatt. It was Neier Beran who encouraged him to apply and sent a letter of support to the hiring manager: her former student, James Geiger, BBA ’13.

During Archibald’s internship, his team won the annual summer intern competition, which challenges interns to increase customer satisfaction and retention by improving existing digital processes and products. He and his team were then invited to present their pitch to Hyatt’s chief marketing officer.

Shortly after graduation, Archibald joined Performics, a top digital agency in Chicago, as an associate media manager. 

Here, he reflects on his time at Hyatt and Performics, his future career goals, and his advice to students.  

How did Hyatt prepare you to work in digital?

At Hyatt, I gained valuable experience working on different digital projects that affirmed my commitment to working in the digital field. It was an amazing opportunity at a great company, with a great culture and great people.

Coming into the internship, I had skills gained from working on class projects throughout my time as a student at Quinlan, but I was lacking real-world experience. At Hyatt, I was able to own projects and work with a group of impressive colleagues that really helped me to foster and grow my skills throughout the summer.

I also had an amazing boss, James Geiger. He taught me essential concepts needed to be successful in the digital industry, while also being a strong mentor and great friend. I left my internship at Hyatt feeling very confident in my abilities and excited to enter the workforce.

How did you land a position at Performics?

When I began looking for a job, I researched digital agencies in Chicago and made a list of where I could see myself working with assistance from Professor Neier.

When I interviewed at Performics, I made sure to ask questions to make sure the job was not only a fit for me, but that I was a fit for the company. Overall, it took me about a month to find a job and I started my current role at Performics in July 2016.

At Performics, I’m involved with multiple aspects of a clients’ account including performing keyword and website research, ad copywriting for search campaigns, tracking analytics and data, and creating engaging visual presentations for both the client and my team. I’m constantly learning new skills and building upon what I learned at Loyola, and I love it!

What are your future career goals?

Growth is the most important thing to me, so I am focused on developing all the skills necessary to help me succeed in the digital field. There’s always a new platform or new technology to be learned—it’s never mundane work! 

James left me with a great piece of advice last year: “When you stop learning in a role, that’s when you need to leave.” I plan to always be moving forward and seeking greater opportunities.

What advice do you have for students?

Utilize Quinlan’s Business Career Services to get help with your resume, and attend the fall and spring career fairs. Recruiters are there to find students to fill entry-level roles and internships.

It’s all right to be nervous; recruiters are most likely also nervous to meet you. Focus on engaging with them through conversation and ask questions. I would strongly urge anyone to take business cards and use those to add recruiters on LinkedIn. It’s a wonderful tool that will help you in the future. 

New Colombia study examines marketing’s role in facilitating peace


Colombian coffee plantation. (Courtesy of Getty Images)

By Whitney Critten |  Student reporter

Macromarketing—marketing activities and systems used for social good—can help achieve peace and repair damaged countries, says Quinlan marketing professor Clifford Shultz.

Shultz has studied macromarketing for more than 25 years, researching how macromarketing initiatives can be used as a peacemaking tool in war-torn countries including, but not limited to, Cambodia, Lebanon, Thailand, and Vietnam. He also serves as president of the Macromarketing Society, an international group of scholars examining the interactions among markets, marketing, and society.

Recently, Shultz co-authored Marketing as a Means to Transformative Social Conflict Resolution, which was published in the American Marketing Association’s Journal of Public Policy & Marketing in Fall 2016. The study examines how the growing fair-trade coffee network in Colombia has played a key role in helping to transition the country’s war economy.

Here, he discusses the role and importance of macromarketing research, as well as the Colombia study and its findings.

What does macromarketing research examine?

Macromarketing examines marketing systems to determine what policies and business practices are—or can be—effective and efficient, which goods and services help to improve quality of life, and what in the marketing system needs to be eliminated or improved to enable a more just and sustainable society. Essentially, macromarketing research is focused on improving the quality of life and social justice for as many stakeholders as possible.

Macromarketing researchers explore issues such as how to ensure that:

  • An economy or marketing system not only provides goods and services, but also is inclusive
  • Competition and pricing are fair
  • Workers throughout value-chains are treated well
  • Products are safe
  • Peace, prosperity and societal well-being are enhanced and sustained by marketing activities

The overarching concern is wellness for society and people—rather than simply “selling” products to consumers—and the marketing processes to make a community, country, region, or the entire planet a better, fairer, safer, and more sustainable place.

Why study Colombia?

Colombia was a good place to conduct a study using concepts and methods that have emerged from macromarketing. The country was then involved in 50-year civil war that has caused the deaths of more than 200,000 people and displaced many more Colombian citizens. The economy was under-performing, fueled by drugs—mainly cocaine—and violence. War had fractured society, eroded faith in government and other institutions, and generally made life very difficult, if not impossible, for most Colombians.  

Despite these challenges, our research team thought agribusiness presented some unique opportunities, particularly high-quality fair-trade coffee. The process of developing this sector, while trying to eradicate or at least reduce the activities of cocaine producers and traffickers, was difficult. It required inclusive negotiations and a systemic analysis, along with a plan to involve key stakeholders who ranged from local producers to global consumers. It also required equitable sharing in the fruits of labor, literally.

Fortunately, since the completion of the initial study, the government and the Revolutionary Armed Forces of Colombia (FARC) have reached a peace agreement, which presents even more opportunities in Colombia, a remarkably promising and dynamic country.

What were your findings?

My co-authors and I identified three markets in the Colombian war economy—combat markets, shadow markets, and coping markets. The combat and shadow markets were directly related to illegal activities of the war such as kidnapping, extortion, and drug trafficking, while the coping markets consisted of those in society engaged in legal activities such as farming and education.

Marketing systems can promote peace through communication and empowerment, working to build stronger communities where wealth is distributed fairly, and committing to better regulatory practices, higher wages for workers, and good and safe products for consumers.

Moving forward, we’re hopeful some of our ideas might provide a model for future initiatives in Colombia and elsewhere.

Why is macromarketing needed?

Marketing is a provisioning technology that should be used to make people’s lives better. Think about the fact that we have about a billion people on this plant who live in abject poverty. There are approximately 40 countries currently engaged in war, and there are many other countries supplying materials and capital needed to execute these wars to the cost of trillions annually.

As a macromarketer, I believe it’s our responsibility to do all that we can to apply tools and ideas of marketing in ways to improve the lives of people around the world who are suffering from poverty, disenfranchisement, war, and despair.

Good marketing research can be used as a transformative peacemaking tool for local and global governments, multilateral organizations, NGOs, universities and businesses to create actionable plans that inspire and empower people to do good while they do well.

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New Governance Institute launched by Family Business Center


Governance Institute participants and instructor Andrew Keyt, clinical professor of family business at Quinlan, will learn together over the 18-month program.

“Effective governance is needed to hold leadership accountable for the strategy and management of family businesses," says Anne Smart, director of Loyola’s Family Business Center, "particularly as they go through developmental cycles as the business transitions from one generation to the next and grows in size and complexity.”

To support this, the Family Business Center recently launched the Governance Institute, a unique 18-month program to help family members develop the skills they need to be effective directors, to help participants to understand the work and processes of high performing boards, and to provide resources to strengthen participant’s governing boards of directors or advisors.

The first group of institute participants includes representatives of six middle-market family businesses from the Midwest.  

Here, Smart discusses the institute and the importance of peer support and experiential learning in family business.

Tell me about the Governance Institute.

Over the course of 18 months, participants will complete 12 sessions led by Andrew Keyt, clinical professor of family business at the Quinlan School of Business. The institute has two overall learning objectives for participants—the acquisition of practical skills by family members resulting in effective contributions to their own and other family business boards, and a deep understanding of the functions of high-performing, effective boards.

These objectives are broken down into individual modules and provide a comprehensive understanding of family business governance. Topics include:

  • Managing emotions
  • Communication
  • Understanding the role of the board in a family business system
  • Creating policies and procedures for key transitions in family businesses
  • A basic understanding of business disciplines

Boards are the most effective when they’re able to teach, advise, and challenge leadership to make the best decisions that will benefit both the business and its shareholders.

How will the topics be taught?

Like all our institutes, we designed it so participants can take what they have learned, implement it, and at the next session discuss and share their experiences with one another. This cycle of knowledge, reflection, and action is a key characteristic of experiential learning in Family Business Center institutes, as well as in education at Jesuit institutions such as Loyola.

In class, live case studies or subject matter experts will illustrate each topic. The cases selected represent healthy and positive examples of board leadership for a family business. The subject matter experts will talk openly and honestly about their experiences to help build participants’ knowledge of the major competencies and principles in family business governance.

Why incorporate peer support and hands-on learning?

Peer support, in the context of family business, is extremely important because families who work in a business together are often very isolated. They don’t talk about the business with non-family members, and they don’t talk about the family for fear of harming either one. Essentially, they end up in this sort of closed loop of only knowing what they know.

Knowing this, the Governance Institute places participants in a peer setting so they can interact with and learn from one another. We want them to build strong relationships with their fellow classmates, while also learning in a trusting environment. 

The hands-on activities during the sessions encourage participants to engage with one another and discuss past experiences to reflect on what could’ve been done differently to change the results.

We believe that this environment and approach will effectively prepare our participants to contribute to and lead highly effective boards—and in the process, help their family businesses grow.

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Stonebraker receives innovative education award


“I am tremendously grateful to be able to work on [advances in education] for our students and for Quinlan as a whole,” says Stonebraker.

By Adriana Geday  |  Student reporter

Clinical Professor Peter W. Stonebraker, PhD, CFPIM, was recently recognized for the “Best Paper in Innovative Education” by the Northeast Decision Science Institute (NEDSI), an organization dedicated to improving managerial decisions in support of global progress.

This is his third Innovative Education award from the Decision Sciences Institute.

Stonebraker’s most recent award honors his paper “Active Learning: Enhancing the Outcomes of Virtual Pedagogies,” which examined the differences in learning outcomes of traditional and online business statistic courses with a particular emphasis on the impact of engaged learning.

“In writing this paper, I’ve learned a tremendous amount about how to teach both traditional and online courses, including all of the supportive technology advances” says Stonebraker. “These advances have really helped me to provide the high-quality online courses at Quinlan that engage students and facilitate the creation of better courses.”

Stonebraker will be formally recognized at the 2017 NEDSI Annual Conference during the gala dinner and award ceremony on March 25. 

Here, Stonebraker discusses the objectives and results of his paper, the importance of engaged learning, and what this honor means.  

What were your paper’s objectives?

The paper is based on a survey questionnaire that was given to students of six undergraduate business statistics courses that I taught during the 2015–16 academic year. The surveys, given at the start and on the final day of the course, compared student understanding of business statistics concepts and models, and was approved by the Loyola Institutional Review Board.

Those courses were a mix of:

  • Web-facilitated traditional course: Some electronic delivery
  • Hybrid/blended virtual course: Combination of traditional and virtual course activities

My initial objective was to determine whether hybrid or blended virtual courses resulted in the same degree of student learning as the web-facilitated traditional courses.

The second objective was to determine whether an engaged learning component would enhance the learning outcomes of either the traditional or the virtual course.

What were the conclusions of your research?

The first conclusion was that the delivery method of the course—traditional versus virtual—doesn’t make a difference. The learning outcomes of these two groups were not different.

The second conclusion was that if you add an engaged learning component and engage the students in the topic though a real-life application, students learn more due to that engagement.

What do students gain from engaged learning?

My engaged learning course required students to serve as consultants for the Homelessness Prevention Call Center, a component of Catholic Charities, which offers assistance to people who are at risk of being evicted or have their heat or lights turned off due to a recent personal financial difficulties.

The students were given access to the HPCC database of some 140,000 observations. They were then were tasked to diagnose the data on the type of person who calls for support, the efficiency of the HPCC processes, and sources of money that is dispersed to the needy. Students operated as a consultancy, and at the end of the course they give a presentation on their conclusions from that data to the senior managers of the HPCC.

As part of the engaged learning process, students also met with homeless people and thus gained a much broader realization of the Loyola mission to understand the consequences of injustice and to be active in resolving it. This engagement put statistical theory database analysis into a real-world application, giving students a better understanding of the concepts and how to apply them.

What does this award mean to you?

This paper took a lot of years of teaching and research and has taught me how to be more conscious of my teaching, especially the processes of communicating with online students.

So, to see this work acknowledged is a great honor. I certainly appreciate the support that Mary Malliaris, chair of the Information Systems and Supply Chain Management Department (ISSCM), has given me, particularly her support of my efforts to teach online and to enhance the courses that I teach.

My goal is to learn to better use the available online technologies and to teach these courses at Quinlan. I am tremendously grateful to be able to work on such advances for our students and for Quinlan as a whole.

Quinlan excellence recognized by AACSB re-accreditation


The Quinlan School of Business was re-accredited by AACSB, which is a mark of excellent business education.

The Quinlan School of Business recently received re-accreditation from the Association to Advance Collegiate Schools of Business (AACSB) for both business and accounting.

AACSB accreditation is a mark of excellence in business education, and has been earned by fewer than 5 percent of the world's business schools. Quinlan is among the 780 business schools in 53 countries and territories that have earned AACSB accreditation for business, and one of the 185 institutions that hold additional specialized AACSB accreditation for accounting.

“We are pleased by this continuing recognition of our programs,” says Kevin Stevens, Quinlan's dean. “And we’re pleased by what this means for our students: Many employers find that graduates from accredited schools are more highly skilled and more desirable than graduates from non-accredited schools.”

Quinlan has been accredited by AACSB for undergraduate business since 1955 and for graduate business programs since 1980. The accounting program has been accredited by AACSB since 2001.

Rigorous accreditation process

Achieving accreditation is a process of rigorous internal review, engagement with an AACSB-assigned mentor, and peer review. AACSB’s accreditation standards require excellence in areas relating to:

  • Strategic management and innovation
  • Student, faculty, and staff as active participants
  • Learning and teaching
  • Academic and professional engagement

To achieve accounting accreditation, schools must first earn AACSB business accreditation. Accounting accreditation then requires meeting an additional set of standards specific to the discipline and profession of accounting.

Value of AACSB accreditation

Watch how AACSB connects students, businesses, and business schools to accelerate innovation and make a difference in society.

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Information Systems student wins big with music app idea


Information systems student Jonah Murray hopes to roll out his award-winning concert-review app this summer in time for the Lollapalooza music festival.

By Gabrielle Barnes | Student Reporter

Senior information systems major Jonah Murray spends a lot of time on techie gadgets like most young adults. But there’s one big difference—he’s setting out to create an app that he hopes will become a trend.

Murray’s idea for Emurse came to be after he spent a summer going to alternative, lesser-known artist performances. He discovered the lack of artist variety in music-rating apps such as Songkick.

“I was going to a lot of concerts and I wanted something I could just go to and see what people think [about an artist], and I could not find that. If an artist wasn’t incredibly well-known, they just wouldn’t have that data at all,” said Murray, whose app will give concert goers a chance to scope out venues and artists before buying tickets to performances. “I decided a lot of people would value this.”

Although Murray said he wouldn’t consider himself a tech mastermind, he has always been interested in learning more about how technology affects the world. He chose to go into information systems because “it’s a place where business and technology meet," and to minor in computer science.

Ideas to actions

It wasn’t long before one of his computer science professors encouraged him to enter in the Chicago Innovation Challenge to put his ideas into action.

The competition, hosted by the Jules F. Knapp Entrepreneurship Center of the Illinois Institute of Technology, invites qualifying Illinois high school and college students to solve a real-world consumer need and demonstrate their inventiveness and originality at solving their chosen problem. Participants compete for prize money, along with 6-weeks of free rent at mHub Co-Working Space to work on the invention.

Murray was chosen as a finalist and was given the opportunity to present his concept to a panel of independent judges. His idea and execution of Emurse awarded him third place in the university/college division.

“Emurse really won based on the value of its creativity and usefulness as there were other app competitors but not in the music space,” said Donna Rockin, executive director of the Jules F. Knapp Entrepreneurship Center.

Turning passion into a career 

Murray is proud of his accomplishment and grateful to have had the opportunity to test his idea in a competitive, but innovative environment.

“Taking [my] idea and presenting it to the judges was satisfying and fulfilling, with or without a win,” he said.

After graduation, Murray will start his “dream job” in a tech position at Discover Financial Services. However, he doesn’t plan on abandoning Emurse. He plans to share a portion of his $500 prize with the people who helped him. Then, he will use the remaining money to put the final touches on Emurse.

Murray’s goal is to have a skeleton prototype of the app by spring 2017, and hopes Emurse will be available to consumers in time for Chicago’s biggest music event, Lollapalooza, in August.

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Marketing professor honored for engaged teaching


Provost John P. Pelissero, PhD, presents the Kolvenbach Award for Engaged Teaching to Quinlan senior lecturer Stacy Neier Beran, PhD.

By Adriana Geday  |  Student reporter

Stacy Neier Beran, PhD, senior lecturer of marketing, was recently honored with the Kolvenbach Award for Engaged Teaching.

Named after the Rev. Peter Hans Kolvenbach, S.J., the 29th superior general of the Society of Jesus, the award recognizes Loyola faculty who promote active and collaborative learning and the application of classroom theory to real-life situations through hands-on, service learning, and outreach experiences.

“Kolvenbach talked about the importance of bringing the gritty reality to our students, of engaging them with humanity,” says Neier Beran. “The truly important answers can’t be looked up in the back of the textbook but require deeper engagement. I believe that is the true value of engaged learning.”

Neier Beran received the award in January 2017 at the Focus on Teaching and Learning Conference, sponsored by Loyola’s Center for Experiential Learning, the Faculty Center for Ignatian Pedagogy, and the Provost’s Office.

Here, she discusses the importance of engaged learning in the classroom, the benefits students gain from this teaching style, and the great honor of being recognized.  

Why do you practice engaged teaching?

It is our role and our obligation as educators to create meaningful collaborations with students. This way, students will have a better foundation to go outside of the classroom and return the good somebody else has given them as a part of their educational experience.

To me, having students engage in our community becomes more important than the restrictions of a class syllabus.

What do students gain from this approach of teaching?

The three key benefits for students are curiosity, grit, and empathy.

Curiosity is essential as students will encounter situations that do not play out how they assumed they would. Students must have that spark of curiosity to ask questions and dive in deeper.

Grit is having the resilience and perseverance to push through an unexpected scenario, knowing that someone else’s passion is on the other side. This also means having the discipline to focus on holding yourself accountable to commitments to the community.

As students progress through courses that involve engaged teaching, they develop a stronger sense of empathy towards the community they support. Through empathy, students feel enthusiasm to take that extra step that makes the difference to many stakeholders, including both clients and participants in research projects.

Why should the business community care about engaged teaching?

If we can honor the humanity that is a part of all business activity, we can begin to develop the civically engaged leaders that we need in this world. Our business leaders must connect to this humanity. Practicing engaged teaching and learning through service and research leads us in that direction.

At Quinlan, we talk about being the business school that the world needs. That statement—and the idea of having a head for business and a heart for the world—is something that has really stuck with me.

What does this award mean to you as a professor?

I am at a loss for words. It is a tremendous honor to be recognized, especially under Kolvenbach’s name. I will always cherish it, as the award recognizes the genuine love I have for my students and for Loyola.

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Business Analytics Lab equips students with in-demand skills


The 56-seat space provides students with hands-on training in financial services and business analytics across disciplines.

By Whitney Critten |  Student reporter

An innovative lab in the Quinlan School of Business enables students across business disciplines to gain the hands-on, in-demand skills they need—and reinforces Quinlan’s position as a thought leader in Chicago’s business and academic communities.

The CME Group Foundation Business Analytics Lab opened in fall 2015 in the Schreiber Center, Quinlan’s new home, with the support of a $1 million gift from the foundation.

The mission of the lab is three-fold: facilitate educational and research activities, while supplementing course work through experiential learning opportunities. 

Research and learning

The 56-seat space provides students with hands-on training in financial services and business analytics across sectors, including finance, marketing, healthcare, and supply chain management. Approximately 200 students use the lab each week; it is open 15 hours each day during the week and 10 hours on both Saturday and Sunday.

Among other things, students are learning to analyze and interpret streaming data into actionable business insights.

“With the advent of big data, students who are comfortable working with data and have a strong portfolio of how they’ve used data to derive the actionable insights have an impressive competitive advantage in the job market,” says lab director Fady Harfoush.

In addition to classroom time, students run the Rambler Investment Fund, a global macroeconomic fund worth almost $1 million. This experiential learning opportunity provides students with real-world experience in investment and portfolio management. The fund uses the lab to conduct meetings, host guest speakers, and research companies, markets, and investment opportunities. Read the fund’s Market Analysis and Outlook for 2017 →

Faculty are also benefiting from the lab’s diversified services by receiving hands-on training on industry software, which they then bring into the classroom. They are also using the lab to aid in gathering data for their own research projects.  

Tools and resources

The lab features industry-leading financial services tools such as Bloomberg Terminals, Thomson Reuters Eikon, Morningstar Direct, and S&P Capital IQ platform. Live financial market indicators running in the lab help immerse students in the markets.

The lab also offers in-depth user guides and access to top modeling tools and visualization software such as SAS, SPSS, Tableau, and RStudio.

And through Quinlan’s partnership with Bloomberg for Education, students have the option to become Bloomberg Market Concepts certified.

“Students who dedicate themselves to understanding the data, learning the software and go the extra mile to attain this certification are landing impressive full-time jobs and internships at leading companies in the industry such as JP Morgan, Wells Fargo, and William Blair,” says Harfoush.

Designed for collaboration and creativity

The lab’s flexible design fosters collaboration, creativity, and innovation among Quinlan students and faculty across all disciplines. Classes held in the lab include finance, information systems, business analytics, entrepreneurship and management, and marketing.

The lab’s setup can be easily modified for various activities: From the tables to the chairs, everything in the lab is mobile and can be arranged for different configurations needed for effective teamwork and discussion. A series of white boards on wheels also support brainstorming and collaboration.

“The lab is a place where everyone gets together for in-depth discussion and friendly collaborations,” says graduate student Franklin Angevine, MSF ’17. “And thanks to my trainings at the lab, I’m very comfortable using RStudio and the Bloomberg Terminals in my current position at DSC Quantitative Group.”

Lab photos

View photos of the lab in the gallery below or on Quinlan’s Flickr page.

CME Group Foundation Analytics Lab

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Quinlan students place third at International Case Competition


From left: Adam Hepp '17, Hannah Kern '18, Jack Bobruk '18, and Nicole Karwowski '18.

By Whitney Critten |  Student reporter

A team of Quinlan students took home a hard-earned third place at the NU-CUIBE International Business Case Competition in fall 2016, the highest finish since Quinlan began competing four years ago.

The international business case competition at Northeastern University in Boston brings together 16 of the nation’s top undergraduate business programs—including Quinlan, American University, James Madison University, and the Villanova School of Business—to examine a real-world business case and provide recommendations for a company and its stakeholders. 

The Quinlan undergraduate students—Hannah Kern ’18, Nicole Karwowski ’18, Jack Bobruk ’18, and Adam Hepp ’17—called themselves Four the Win, and worked with Professor Mine Cinar to prepare for the competition. 

These students were extremely dedicated to this competition, and put in the time to learn essential concepts that would help them perform well. This third place finish demonstrates that Quinlan is educating its students to become the next generation of responsible business leaders,” says Cinar, who is also the director of Quinlan’s Center for International Business.

The case for Unilever in India

At the competition, they had just one day to develop a strategic plan that would help Unilever implement sustainability goals to combat diarrhoeal disease in India, find new suppliers, increase brand awareness, and reach new consumers for its LifeBuoy soap in either rural or urban areas.

“We were given a lot of background data on Unilever, and we needed to come up with a plan to increase sales of the soap aggressively,” says Karwowski.


The team recommended three major strategies for Unilever:

  • Incorporate educational programs on hand washing in elementary schools in India
  • Switch to fair-trade suppliers of palm oil—which is used in manufacturing soap—in order to reduce its environmental footprint
  • Launch marketing campaigns at large, religious festivals in India to reach the target audience of families

After impressing a panel of first-round judges with their recommendations, the Quinlan team was one of four to advance to the semifinals. In the semifinals, the team presented to a different panel of judges and answered questions on their strategy for Unilever's LifeBuoy soap in India.  

Presentation is everything, so it was a great learning experience for my team to present our ideas and solutions to an esteemed group of professionals,” says Kern.

Preparation is key to success

The undergraduates did extensive preparation for the competition, including studying film of cases from previous years and reviewing different models and ratios they could implement when analyzing their own case at the competition. The team also prepared by revisiting key concepts learned from their time at Quinlan.

“I was able to understand consumer behavior and forecast what trajectory Unilever should take thanks to my introduction to marketing class taught by Professor Jenna Drenten,” says Karwowski. The students then worked to refine their presentation skills to ensure that their message was delivered convincingly.

“We met with Professor Cinar before leaving to go over case expectations and the importance of slide presentation,” says Kern. “Her feedback really helped our team deliver a strong and detailed presentation to the judges that we were very proud of.”

A powerful learning experience

After the competition, the students reflected on the value of their experience.

“My team and I were excited to see how what we learned in the classroom could be applied to real-world problems,” says Karowaski. “Our third place finish makes us optimistic that Loyola is preparing us well for the future.”

The team agrees, however, that the best part of this experience was working as a cohesive group and learning from one another.

“We really bonded as a team and pulled out each others' strengths,” Karwowski adds.

The business behind football's big game


"It’s not about who is throwing the pass; it’s about the marketing and the operations of the sporting event," says associate professor Keith W. Lambrecht, PhD. (Image: Getty Images)

By Adriana Geday | Student reporter

With this year’s championship football game around the corner, what are some of the things football fans and commercial lovers can expect to see?

Keith W. Lambrecht, PhD, associate professor and director of Quinlan’s Sport Management program, discusses prominent trends surrounding the big game and the direct impact politics will have.

What are the new trends in 2017?

The first is the commercials. This year, companies are more competitive than ever, attempting to buy the best slot to air their commercials. The cost of a 30-second commercial is between $5 and $5.5 million, so it has doubled since 2007.

However, there’s another side to that question. Commercials this year don’t seem to be as important to fans as in years past, and I think that has a lot to do with the political arena right now. In the last 5 to 7 years, commercials were released prior to the game on the Internet so companies could gain exposure for their brand.  This year, there is access to only a limited number of commercials before the game.

Companies are not airing the commercials ahead of time, but are spending more in hopes that fans will tune in to see them on game day. I believe the delay is because of the presidential election and the issues happening around the country and world. People seem not to be as involved in football this year, especially if their team is not involved in the game.

There seems to be a disconnect between the price of attending a game for the average family or FCI (Fan Consumer Index) and what an average American can afford. Game tickets are becoming more and more expensive and may not be an option for average fans.

Another interesting trend is the NFL’s strategy to market towards women. This has been a trend for the past few years, where commercials are targeted to women and attracting them in order to increase viewership of and attendance at football games.

What marketing/advertising challenges does the NFL face this year?

One of the big issues this year is the relationship between politics and sport. Viewership of the game is expected to be down this year. It has becomes even more of a challenge to get people involved due to the political situation.

There are two main fan scenarios. First, the avid football fan who either loves the sport or whose team made it to the championship. In this case, the fan is likely to tune in and watch the entirety of the game and its commercials. Scenario two is the more casual fan may be more interested in what’s going on elsewhere. This is someone who is more likely to be switching from the game to the news for updates on what’s going on with protests and other news headlines.

One of the challenges the NFL is facing this year is walking the politically correct line while not upsetting or offending their conservative fan base. That’s got to be a tough job.

Why should the business and Quinlan communities follow these trends?

Sports is big business. The sport industry is over a $489 billion industry and the 4th largest growth industry in the U.S. It is part of the entertainment industry.  

As educators and students, we need to understand the “business behind the game.”  It’s not about who is throwing the pass; it’s about the marketing and the operations of the sporting event. Students and business professionals can find many career opportunities in the field of sport management, but they need to understand the latest trends in the business of sport. 

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Study abroad in Southeast Asia challenges and inspires students


Study abroad trips reinforce Quinlan's commitment to furthering social justice through business, writes graduate student Marcy Harman. Harman (right) is pictured with Jasper Lam and Michael Diaz visiting Vietnam's Mekong Delta. (Photo by Anna Gaynor)

In January 2017, 17 graduate students spent two weeks traveling through Vietnam, Cambodia, and Thailand as part of a comparative marketing class led by Professor Clifford Shultz.

Here, Quinlan graduate student Marcy Harman reflects on her experiences.

Reflections on our study abroad trip

Understanding global markets—and yourself

Every January since 2010, students in Quinlan’s Comparative Consumer Behavior and Marketing in Emerging Southeast Asia have embarked on what has become a rite of passage in the MBA program. The class is an incubator for great relationships among students and also an opportunity to come to know yourself better, expand comprehension of global markets, and challenge how far out of your comfort zone you are willing to stretch.

As a tourist, I have visited many other countries, but as a tourist I never got the same depth of understanding as I did from studying and working abroad. I could see that this class would be a uniquely rich opportunity to understand differences between cultures and economies at more than just a superficial level.

A few of the unique experiences we had were:

  • Discussing Vietnam’s political economy with FBNC, Vietnam’s only private news television station
  • Touring a massive Nike factory outside of Ho Chi Minh City, which provides some of the choicest jobs in the country
  • Touring Cambodia’s floating villages on Lake Tonle Sap where fishing is the only industry and people live (and die) off the rising and falling water

These experiences are the reason I went. They embody Quinlan’s commitment to furthering social justice through business. It was plain as day to see how free markets help people thrive through better access to goods and services and through paid work. These experiences also illuminated the intricacies behind government policies and how they can help or harm the distribution of wealth.

How far is Southeast Asia?

On the way home I visited my brother’s family in Tokyo where he lives and works as an expat attorney. My Japanese in-laws surprised me with a question: “Do you think Japan is very far?” they asked. What they meant was that to some people, the distance is very far, and to others who have the resources to travel the distance does not seem so far.

Our Cambodian guide had echoed similar sentiments. At one point, as we were passing through the floating villages, he paused and told us about his children, and that he earnestly wished his daughters “could be like you.” At that moment, the distance between our worlds seemed sadly and unjustly far. Why shouldn’t his children have every opportunity and security that we students enjoy?

Only a small fraction of the world’s people could even dream of taking a trip like this. We students passed through national borders seamlessly, shuttled by luxury buses and staying in 4 and 5 star hotels. Travel is recreation to us, but for most of the world it is unthinkably privileged.

Quinlan calls students to commit their learning to the good of society and the betterment of others. This is one course that will challenge you to think about how you can answer that call, and help bring other parts of the world nearer in distance, in understanding, and in opportunity.

Trip photo gallery

View the photos in the gallery below or on Quinlan’s Flickr page.

MARK 561: Study abroad in Vietnam, Cambodia, and Thailand

Trip video

Watch students reflect on the life-changing experience of studying in Southeast Asia below or on Quinlan’s YouTube channel.

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Small business survey conducted by Quinlan students for Chicagoland Chamber


From left: Quinlan alumna Melissa Ballate, Dean Kevin Stevens, Theresa E. Mintle of the Chicagoland Chamber of Commerce, and Provost John Pelissero

By Whitney Critten |  Student reporter

For the third year, the Chicagoland Chamber of Commerce and Quinlan School of Business partnered to learn more about Chicago’s small businesses.

The two groups collaborated on the Chicagoland Small Business Outlook Survey, which collects information on small businesses, what they need to succeed, and their outlook for the future.

This year’s survey revealed that 77 percent of small business owners in the Chicagoland area plan to grow their businesses, despite a national decreased confidence in the economy.

The survey also shows that taxes and rising healthcare costs remain areas of concern for small business owners; with 79 percent being most concerned with rising taxes and 82 percent being concerned with rising healthcare costs and how these factors will continue to impact revenue growth and plans for expansion.

Notable key takeaways from the 2017 Chicagoland Small Business Outlook Survey include:

  • Business confidence in the economy—local and national—decreased by an average of 13 percentage points over last year.
  • Business owners’ additional concerns include state and local economic conditions (85 percent), regulatory requirements (64 percent), and access to capital (64 percent).
  • Only 29 percent of those surveyed believe Chicago’s economy will improve in 2017, and 17 percent think that Illinois’ economy will improve.
  • Business owners indicated their needs for expansion included marketing assistance (59 percent), business planning (48 percent), and technology advancements (45 percent).

Read the full survey results 

“While business owners are worried about the financial states of Chicago and Illinois, they are optimistic about the chance to expand and in their ability to run successful businesses,” says assistant marketing professor Alexander Krasnikov, PhD, who oversaw the survey implementation by a Quinlan graduate marketing class.

Krasnikov continues, “The results of this survey are important because they give us a better understanding as to what is top of mind in the business community, as well as a chance to find new ways to support it.”

The 2017 survey results were announced on January 26 at the Schreiber Center at an event attended by more than 100 entrepreneurs. Melissa Ballate, Quinlan alumna and president of branding and strategy firm Blue Daring, presented the study findings.

A strong partnership

Quinlan graduate marketing students were engaged during all stages of the project, from survey development to data collection and interpretation.

“The Chicagoland Chamber and the Quinlan School of Business at Loyola University share a passion for investing in Chicago's business community," says Theresa E. Mintle, president and CEO of the Chicagoland Chamber of Commerce. "Our three-year partnership in producing the State of Small Business Survey gives voice to small businesses and drives the support the Chamber and Loyola provide to entrepreneur and neighborhood businesses."

Loyola’s Office of Corporate Engagement facilitated the partnership between the Chamber and the Quinlan School of Business.

Event photos

View event photos in the gallery below or on Quinlan’s Flickr page.

Small Business Survey 2017

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Launch your career in 2017


Business Career Services can help you launch your career through comprehensive career development services and events.

Find your next internship or a career at recruiting events hosted by Business Career Services in January, February, and March 2017. For complete details or to register, visit RamblerLink →

Winter Accounting Internship Fair

January 24, 2017
Learn more about winter accounting "busy season" internships. Hear from a panel of former interns currently working in accounting, and then interact with employer representatives in a career-fair type setting. Register now in RamblerLink. Open to current students.

Employer Meet and Greets

January 30-February 3, 2017
Network and learn more about recruitment opportunities at a variety of companies, as they come for an informal meet and greet in the first floor of the Schreiber Center. Companies and their time slots will be listed in RamblerLink.

Spring Career and Networking Fair

February 7, 2017: Finance & Accounting
February 23, 2017: All Other Business Majors
Meet with a diverse range of employers to find your next professional opportunity. Register now in RamblerLink. Open to students and alumni.

Spring On-Campus Recruiting

February-April 2017
Interview with employers looking to fill internship and full-time positions. Companies and their time slots will be listed in RamblerLink.

Living an examined life


With age and experience, I've come to realize that the examined life is not a one-time affair, writes Professor Al Gini in Loyola Magazine.

By Al Gini
Professor of Business Ethics and Management

I've been a student of philosophy all of my life. I fell in love with the discipline the very moment I read the Socratic adage, "An unexamined life is not worth living!" What Socrates meant is that for life to be authentic, to be lived well, and to be one of integrity and honesty, it has to be questioned, challenged, and confronted head on, without false pretense or illusion.

With age and experience, I've come to realize that the examined life is not a one-time affair. It isn't a permanent condition, a fixed state, or an unchanging point of view. Occasional reflection or casual meditation is not a sufficient method of dealing with the booming, buzzing confusion that we call life.

In life, as they say, "stuff happens." We are constantly confronted with unexpected change, crippling mistakes, unanticipated maladies, and mischievous miscalculations. The reality is, no matter how well prepared (or well examined) we think we are, life can challenge us, change us, and make cowards and fools of us all.

The examined life is a process, not a static phenomenon. As the facts, data, and experiences in life evolve and change, we too must evolve, reconsider, reanalyze and, when necessary, reconfigure our beliefs, standards, and affiliations.

Life continuously confronts us with challenges and questions, but it rarely offers us easy answers. Living the examined life is simple to state but difficult to master. We try, try again, fail again, and keep trying. To paraphrase the words of Aldous Huxley: Wisdom (or the examined life) is not just what happens to a person. It is what a person does with what happens to them.

This article appears in the Winter 2017 issue of Loyola Magazine. Read more →

Marketing professor receives international award from leading journal


Assistant Professor Jenna Drenten was named "Reviewer of the Year" for her impressive work in a leading marketing education journal.

By Adriana Geday  |  Student reporter

Assistant Professor Jenna Drenten was recently named “2016 Reviewer of the Year” for Marketing Education Review, a leading international scholarly journal on marketing education.

The award is given to the journal’s top reviewers each year. Reviewers for Marketing Education Review are faculty members who volunteer to review paper submissions from other academics.

“I always hope that my research will be impactful, and somebody will use it in a practical sense and make a difference in some way, whether it’s pushing forward theory in the field of marketing or introducing new academic innovation that we can use in the classroom,” says Drenten. “By channeling my efforts toward the improvement of the work of others, I am one step closer to achieving my goals as a professor.”

Here Drenten discusses the importance of the award and her own research on gamer girls and the “hashtaggable body.”

What does this honor mean to you as a professor?

I take the peer-review process very seriously as I do my own research. Therefore, being honored and recognized is amazing because the entire premise of the work we are doing is to contribute to the field of marketing and academia. Peer-reviewed journals help ensure that scholars are publishing top-notch articles. The process of reviewing your peers’ work can be tedious, but it’s absolutely worth it to help the authors create better research for the field.

What are you researching currently?

There is always something new to learn with constantly emerging trends, and I love to leverage what’s happening now with potential research topics. The two main projects I am working on right now are on the topics of “gamer girls” and the “hashtaggable body.”

The gamer girl research centers around the gendered experience of gaming as it is typically seen as a man’s world. I am researching how girls who game assert themselves and how they navigate instances when they feel vulnerable as customers.

The other focuses on the cultural branding of body parts online. Particularly, one of my colleagues and I are studying the topic of the “thigh gap,”, and how consumers create these sort of trends around body parts. Further, how from a cultural branding perspective does social media play a role in creating a consumer-driven trend around a body part or specific body image.

What do you hope to accomplish through your own research?

There’s two sides to this for me. Producing really influential research that will positively contribute to future generations and make a difference is one of my main goals.

The other is just getting ideas out there. It’s important to me that my voice is heard and my research is published in front of an audience. Research can take years to get published and you really have to do it for your own intrinsic motivation of really valuing research and intellectual curiosity, so having my voice heard is a privilege.

Why is this research of interest to Quinlan students?

The students, whether they realize it or not, are usually partners in our research. Whether they’re participating in our research projects or they prompted an idea, I think that it’s important that our students know their faculty members are actively pursuing research outside of the classroom. Academic curiosity doesn’t just end with graduation.

The award that I won is from a journal that focuses on academic innovations within the classroom. The research in the journal is always done in a way that better prepares us to serve our students and understand how to handle different situations that might arise in the classroom.

We want to ensure that students are learning what they need to be successful in their future careers and that we as professors are keeping up with the dynamically changing field of marketing. Essentially, the research helps us push the field of marketing in business and come up with new groundbreaking ideas to reach students and consumers and support their well-being.

Airbnb changing business through disruptive innovation, says professor


Professor Arup Varma and his research partners studied Airbnb’s groundbreaking business model in a paper published in Tourism Management Perspectives.

By Adriana Geday  |  Student reporter

Airbnb’s groundbreaking, technology-fueled business model is changing the entire playing field for business, says management professor Arup Varma.

Airbnb’s model of “disruptive innovation” inspired Varma and his co-authors to study the increasingly popular service that enables travelers to lodge in homes rather than a traditional hotel room.

The resulting paper, titled "Airbnb: Exciting Innovation or Passing Fad,” was recently published in Tourism Management Perspectives, a highly respected refereed journal. The co-authors are Quinlan professors Arup Varma, Nenad Jukić, Clifford Shultz, and Svetlozar Nestorov, as well as Almir Pestek, a Fulbright scholar from Bosnia.

“At Quinlan, we do cutting-edge, current research. Airbnb is absolutely current: it’s happening now and it’s still evolving,” says Varma. “As faculty, we are immersed in the business world in the traditional sense but also want to expand to topics that are relevant and timely for our students.”

Here Varma discusses key insights from the research and why disruptive innovation is important to the business world and Quinlan students.

What questions are you trying to answer in your paper?

The idea behind this paper was to analyze the experiences of people who are using Airbnb. It is a novel concept—obviously, nobody else thought of it before—and even if folks did think of this, they did not execute until Brian Chesky and his team launched Airbnb. So, we were very intrigued at how fast this has caught on, and were interested in understanding why the consumer is choosing to go to Airbnb versus a traditional hotel.

The two main questions we attempted to answer in our paper were “What are the factors that motivate people to use Airbnb versus traditional hotels,” and “What impact has Airbnb had on the hotel industry as a whole?”

In our study, we found that the main factors that seemed to guide people that use Airbnb were price, image, the peer-review system that Airbnb offers, and location. Most of what we found in our research was along the lines of our predictions—people like convenience and usability. That being said, we thought that hotels’ loyalty programs would hamper Airbnb’s popularity. However, they did not. Price trumped loyalty programs!

We also found that Airbnb has begun to diminish the demand for traditional hotel rooms, and this is starting to have a financial impact on the hotel industry as a whole.

What drew you and your co-authors to this question?

My co-authors are experts in marketing, information systems, and tourism management, and I study human resource management. We all got involved because the concept of Airbnb is completely new and an exciting area for study. We were individually and collectively keen on understanding this intriguing aspect of consumer behavior—what would drive people to stay at someone’s home rather than a hotel room.

It’s such a groundbreaking realm in the world of business, and we’re interested to see where else this might lead. We’re staying in other people’s homes and travelling in other people’s cars, so what’s next?

Why is this topic of interest to business?

The Airbnb business model is unique take on a phenomenon called “disruptive innovation.” If you think about manufacturing over the centuries, you realize that there have been huge changes but everything has been very gradual. Here, something like Airbnb comes along and disrupts the natural flow of things. It’s not gradual; it happens all at once. I remember a quote that seems to apply here—the electric bulb was not invented by the continuous improvement of candles!

Clearly, innovations like Airbnb (and Uber or Lyft) are of huge interest to the business world, because a lot of companies might have to change the way they run their business. It’s the notion of innovation, but not in the traditional sense—it’s more disruptive, and it is going to force us to change the way we’ve been thinking.

What makes your research relevant to the Quinlan community?

My research is designed to be current, and of interest to society. I am not interested in doing research strictly for the benefit of the corporations, but for people, and that of course includes the students at Quinlan. As a Jesuit school, Loyola emphasizes care for the person—and this fits very well with the focus of my research.

When students come to Quinlan, we want to offer them something different—something that makes us stand out in comparison with any other business school. One example of that is our faculty actively conducting research on cutting-edge topics like Airbnb and Uber in order to understand trends and practices that affect the societies in which we live and work. We prepare our students to be outstanding professionals, we also want to make sure that they are also outstanding citizens.

Five tips for entrepreneurs in the new year


"There are a plethora of entrepreneurial support groups that you can leverage for guidance that are often free or low cost to help start your business," says clinical professor April Lane.

A new year equals a new start, and now is the time to fulfill your dream of starting your own business, says Quinlan clinical professor April Lane.   

In addition to teaching entrepreneurship at Quinlan, Lane is the executive director of Catapult Chicago, a collaborative co-working space for digital startups that have demonstrated business traction.

Here, Lane provides five expert tips to guide the prospective entrepreneur on the right path:

1. Read, Read, Read

What you think you know about starting a business is most likely out of date. Business plans? We don’t really write those anymore. Instead, it’s time to get up to speed on how we start businesses now. Get familiar with the terms: business model canvas, lean startup, and customer development. Read anything by Steve Blank, Ash Maurya, and Eric Ries. Take Steve Blank’s course on Udemy. Find some blogs or books on starting a business and get reading.

2. Solve a Problem

We all have ideas, but what you really want is a good problem. Look around. What problems do you encounter at home or work? Also, think about the lives of your friends and family—what problems are they facing? Get out and talk to people about the problems they encounter and how they go about solving them. Pay close attention for gaps, inefficiencies, outdated technologies, etc. Think about how you could do it better. 

3. Leverage Available Resources

There are a plethora of entrepreneurial support groups that you can leverage for guidance that are often free or low cost. Make it a priority to connect with local universities, small business development centers, or SCORE for help. Look for online courses on sites like Udemy and iTunes, honest informational videos on YouTube, and even great podcasts like Tech in Chicago, Bootstrapping in America, and The Full Ratchet. The key here is to use free or low-cost options online, while also connecting with like-minded people at events through Meetup.com, Chambers of Commerce, industry associations, and Built In Chicago.

4. Get Involved in Startup Community

Surround yourself with entrepreneurs. Starting a business is hard and a lot of people can’t relate. Find others who are at your stage or further along for help. They can share experiences to help cut through the noise of what works or doesn't, and can offer "therapy" to keep you sane when things get tough. Concerned about someone stealing your idea? Don’t be. Seriously. Ask for help, introductions, referrals, capital, etc. Startup communities are incredibly helpful and supportive.

5. Just Start. Now.

Most people spend their time talking about starting a business and never actually get around to doing anything because “now’s not a good time.” Well, there is never a good time, so you might as well just do it. Today. Not tomorrow. Not next week. Today. 

Learn More

Helping Syrian refugees motivates professor and her marketing students


The life vest project—which seeks to improve life for Syrian refugees by repurposing discarded life jackets—relied on Quinlan marketing students using their skills to address a real-world problem. Photo: Getty Images

By Whitney Critten |  Student reporter

As the daughter of Greek refugees, Senior Lecturer Eve Geroulis says she can no longer watch the events happening in Greece, with the large influx of Syrian refugees to the Greek island of Lesvos, and not challenge herself and her students to use their skills as marketers to help.

“I constantly tell my students that as marketers, it’s not just about how fast you can reach consumers to sell a product or service, it’s also about how can you use your skills to help solve the world’s greatest problems such as the Syrian refugee crisis,” says Geroulis.

Providing needed clothing

In spring 2016, she put her words into action after learning that underwear is one of the Syrian refugees’ most urgent needs. Geroulis placed a Project Underpants collection box in the lobby of Quinlan’s Schreiber Center and challenged students to donate underwear for men, women, and children.

At the end of the drive, 1,500 pairs of underwear were collected. Geroulis and marketing professor Linda Tuncay Zayer then traveled to Lesvos to deliver the underwear and better understand the situation on the Greek island.

Life vest to marketable product

After Project Underpants, Geroulis wanted to continue challenging her students to help Syrian refugees.

Geroulis saw an opportunity with the more than 800,000 discarded life jackets from the Syrian refugees’ journey to Greece. In addition to clean clothing, the Syrian refugees need jobs to be able to provide for their families.

Geroulis says, “The life vest project aims to teach refugees how to repurpose old life jackets into trendy marketable products such as handbags, iPhone cases, and backpacks, while providing them with employment. The proceeds would then go back to the refugees and their families and hopefully a school in Athens.”

Over the summer, students in Geroulis’ international marketing class worked on marketing plans for the life vest project to determine the best target demographic for the repurposed products and how to market and reach them.

The life vest project is seeking funding currently, but Geroulis remains hopeful that the project will soon become a reality. 

Social justice in the classroom

In all of her marketing courses, Geroulis challenges her students to not only evaluate what they want to get out of the course, but also how they can help those struggling with poverty.

“I tell my students to pay attention to what’s happening throughout the world and find a cause that they’re truly passionate about,” says Geroulis. “And then use that passion, along with their skills as a marketer, to respond to the needs of the poor, fight inequality, and ultimately help solve the world’s greatest challenges.”

She adds, “I hope my passion for helping the Syrian refugees in Greece inspires my students to do the same in various regions of the world and in their own communities, because imaginative and innovative new models of economic development that create opportunities are desperately needed in our world today.”

Supply chain students take home first place


Quinlan supply chain students hold their first place awards from the APICS-Chicago Business Case Competition. Team members are (from left) team captain Hongzhe Zhang, Hussam Bachour, Nonyelu Chukwuogo, Samuel Mulroe, and Lu Chang.

Update: We're going to the international competition!

Quinlan supply chain students qualified to compete in the 2017 APICS International Student Case Competition, following first place finishes at both the APICS-Chicago and APICS Great Lakes District business case competitions.

The article below describes their top finish at the APICS-Chicago Business Case Competition in late 2016.

By Adriana Geday  |  Student reporter

A team of five graduate and undergraduate Quinlan students finished in first place at the annual APICS-Chicago Business Case Competition, which explores how businesses can drive overall improvement through supply chain management.

Six local universities formed teams, but only three schools—Loyola Quinlan, Northern Illinois University, and Illinois Institute of Technology—completed the three rounds of competition, which were based on The Fresh Connection, a cross-functional business simulation.

In October 2016, the three finalist schools competed in the final round at the APICS national headquarters in Chicago. The teams had one hour to complete the final simulation and make a presentation covering assumptions and actions. A panel of supply chain experts then judged their presentations.

“Winning first place in this competition against a strong field of Chicago-area universities shines a light on the caliber of Quinlan students and our programs,” says Professor Michael Hewitt, who guided the team throughout the process. “First and foremost, the team won because of their tremendous work ethic and combination of analytical and communication skills. I also believe our educational curriculum played a big role in preparing them for success in this competition.”

A Learning Process

Quinlan’s team has competed in APICS case competitions since 2015, finishing first at the regional competition in 2015 against more than 20 teams and fourth in a regional completion in early 2016. Motivated to do even better this fall, the team buckled down during its preparations for the APICS-Chicago Business Case Competition.

“We worked directly with Professors Michael Hewitt and Maciek Nowak, discussing strategies, guidelines, and applying theories that we learned in class,” says Hussam Bachour, a graduate student who recently completed his master’s degree in supply chain management. “They served as a fresh set of eyes and guided us to consider specific aspects we were overlooking.”

Bachour continues, “The competition simulates real life, like a real company, so you have these decisions you have to make regarding regulations, inventory, and purchasing that will potentially affect your company. We stayed up late nights discussing our final decision and it paid off.”

A Rewarding Experience

The students attribute their success to teamwork, cooperation throughout the competition, and their ability to work in unison.

“I see huge progress from the last competition to this one—everybody worked together as entrepreneurs and we were cohesive,” says Hongzhe Zhang, graduate student and president of Loyola’s student chapter of APICS. “Every individual demonstrated dedication and devotion to this case and committed as much time as needed. In the end, we took home the first place and created an invaluable bond amongst the team.”

Bachour adds, “Our team members have a passion for the topic. Overall, we wanted to positively represent Quinlan and make Loyola proud.”

Heading to the Regional Competition

Four of the students from the winning team are set to compete in the APICS Great Lakes District Business Case Competition in February 2017. Bachour, who recently graduated, will now serve as the team coach.

Marketing classes partner with Chicago’s famed Lights Festival


Quinlan students surveyed attendees of the BMO Harris Bank Magnificent Mile Lights Festival on Chicago's Michigan Avenue. The hands-on marketing research helps the festival improve the attendee and sponsor experience.

By Adriana Geday  |  Student reporter

Three Quinlan classes started the holiday season with a festive task: collecting marketing research at the BMO Harris Bank Magnificent Mile Lights Festival.

For 25 years, the Magnificent Mile Lights Festival has kicked off the holiday season. For the last eight of these years, Quinlan marketing classes have partnered with the Magnificent Mile Association and BMO Harris Bank to collect real-time data from attendees.

“The BMO Harris Bank Magnificent Mile Lights Festival absolutely needs this data to help renew its many sponsor relationships and continue to draw attendees,” says Stacy Neier, Quinlan senior lecturer. “We brought a new approach to the festival that helps them better understand how attendees were involved with each sponsorship.”

Experiential learning at the Lights Festival

This year, some 110 Quinlan students—the largest number of students to date—attended the festival on November 19 and 20 to conduct surveys. Over the course of six hours, they walked Michigan Avenue, asking festival attendees about their experience, the sponsors, and the programming.

But their preparations began well before the festival. Beginning in August, Neier’s classes met with decision makers from BMO Harris Bank and the Magnificent Mile Association to understand both the festival’s goals and the sponsors’ goals, discuss programming ideas, and develop the attendee questionnaire.

“We’ve been working on this project since the first day of class,” says Quinlan student Taylore Gray. “We’ve learned how to use data software, prepared to talk to our clients, and crafted research proposals. It’s amazing to see how we’ve progressed over the months and how beneficial all of our hard work can be for our clients.”

Neier adds, “This project is pure experiential learning. The students are engaged in hands-on learning about the process and value of marketing research in creating the ultimate experience for the attendee.”

Data collection to actionable findings

At the Lights Festival, the students collected data from almost 1,300 attendees. They integrated technology into the data collection process, using apps and iPads to capture information. According to Neier, the technology helps students better understand the fundamentals of collecting data and how to code data for analysis.

Senior Lea Oedzes adds, “This experience definitely pushed us out of our comfort zone, but that’s exactly what made it so valuable. We learned to engage with consumers on a personal level and now better understand sponsor engagement—those are skills any business student can benefit from.”

The students now return to the classroom, where they will spend the rest of the semester analyzing the data before presenting the findings to The Magnificent Mile Association and BMO Harris Bank research representatives.

A true partnership

“This endeavor is a true partnership between BMO Harris Bank, The Magnificent Mile Association, and students from Loyola’s Quinlan School of Business to uncover the sentiment behind this family friendly event,” says Pam Hunt, senior market research manager, BMO Harris Bank. “The data that is captured is instrumental as we come together with our partners to recap the event and start planning for the following year, and we couldn’t be more thrilled to work with a great team of professionals.”

MBA students create study abroad course in Croatia


From left, graduate students Emily Schroeder, Magi Zlatkova, Abby Annala, and Amanda Schaumann with Professor Mike Welch at a meeting with their client, Stemi.

By Whitney Critten |  Student reporter

Four ambitious Quinlan MBA students created their own study abroad course using the Ignatian Pedagogy framework—a model for teaching and learning with emphasis on experience, reflection, and action—as a guide for their time abroad.

In June 2016, students Abby Annala, Magi Zlatkova, Emily Schroeder, and Amanda Schaumann and management professor Mike Welch spent 12 days in Croatia. There, they consulted with two major Croatian companies and provided market trend research, industry analysis, and information on the American consumer.

Professor Welch advised the students and worked with them to apply the Ignatian Pedagogy framework to their time in Croatia.

“I really admired how the students took ownership over the course and their learning,” said Welch. “They successfully used the Ignatian Pedagogy framework to maximize their time in Croatia and provide their client with an actionable business plan.”

The students also relied on the international connections and insight of information systems professor Nenad Jukić. A native of Croatia, Jukić introduced the group to one of their clients and helped them navigate Croatian culture and customs.

Gaining insights in Chicago

Classwork began well before the June trip. Months beforehand, the students began working with their first client, Kraš, a Croatian company specializing in chocolate. The students researched the company to determine its market share in Croatia, while also analyzing American market trends from the confectionery industry. The result was a SWOT analysis of potential U.S. distribution and operations.

“Our detailed SWOT analysis showed Kraš how serious we were, and it made them open to scheduling Skype meetings with us and sending additional documents to help us better serve them,” said Annala. Ultimately, the students chose to write a business plan for opening a Kraš retail storefront in Chicago.

For an additional perspective on retail operations in Chicago, the students visited World’s Finest Chocolate and toured its local manufacturing facilities. This was made possible thanks to Anthony Gargiulo (MS ’87), a Quinlan alumnus and vice president of human resources at World’s Finest Chocolate.

Hands-on experience in Croatia

Once in Croatia, the students met with representatives from Kraš and their second client, Stemi.

“During the company visit, we met with several members of the supervisory board of Kraš in the marketing, exports, and manufacturing departments,” said Schroeder. “The meetings were extraordinarily useful for us to gain a deeper understanding of the company and the cultural differences of operating a business in Croatia versus in the U.S.”

The students also visited several Kraš retail stores and toured its facilities, which came with the added perk of eating freshly made chocolate.

Their second client, Stemi, is a start-up company focused on educating women and children about STEM. Stemi requested insights on the American education market and consumer, as they are looking to market a build-your-own hexapod robot to American consumers.

The robot kit teaches STEM in a fun and interactive way, as it challenges the consumer to assemble its various parts. However, the students identified a major challenge for marketing the robot to American consumers: a 10-month wait to receive it.

Providing value to their clients

While in Croatia, the students provided Stemi with research on the U.S. education market. They also advised Stemi to shift its marketing focus from individual consumers to educational institutions, such as schools and libraries. These institutions are more likely to wait up to 10 months to receive the hexapod robot. 

Following the trip, the students provided Kraš with an actionable business plan to help the organization bring retail operations to Chicago. The plan relied on knowledge gained pre-trip, their experiences during the trip, and group reflection.

“I’m very proud of what we accomplished in Croatia and our deliverables for Kraš and Stemi,” said Zlatkova. “At times it was challenging for us to balance both full-time school and work, on top of creating a study abroad course from scratch, but in the end it was all worth it!”

Group reflection

An important part of the class—and of Ignatian Pedagogy—is reflection. After each meeting, the students created time for focused group reflection and discussion. This time enabled them to brainstorm ideas and work together to meet the expectations of their clients.

"Each of us on the trip came from a different field of study, which meant we all came away from each meeting with a different perspective,” said Schaumann.  “Having the opportunity to reflect throughout the trip helped me to develop a broader business understanding."

Sharing the lessons learned

In August 2016, the students presented at the Focus on Teaching and Learning Conference, a Loyola conference on effective teaching and learning practices. They discussed their experiences and how this model can replicated by business students and others interested in international experiential learning.

The students all agree that creating their own study abroad course and spending 12 days in Croatia working with international clients were life-changing experiences for them, both individually and as a group.

“This has been a self-actualizing experience,” said Annala. "Our time in Croatia allowed me and my classmates to directly apply skills from the classroom to solve a real-world business problem for a company."

Accounting alumna integral to nonprofit tax practice


Bridget Roche, BBA ’06 (center) and her nonprofit tax team at Grant Thornton. Roche stands with (from left) Gabriel Marsal (BBA '16), Shazeen Sayani (BBA '15), Emily Biller (BBA '12), and Shannon Armstrong (BBA '13).

By Whitney Critten |  Student reporter

For more than a decade, Quinlan alumna Bridget Roche, BBA ’06, has been working in Grant Thornton’s nonprofit tax business line, which provides tax and consulting services to nonprofit organizations. Currently she serves as a tax director, and has carefully built a five-person nonprofit tax team of Quinlan alumni.

“My team and I attribute our desire to work in the not-for-profit tax area to Loyola’s impression on us about the importance of giving back to organizations that serve communities in need,” says Roche. “We really enjoy working for clients that have a mission."

As the team looks to expand for the future, Roche and the firm will be doing on-campus interviews at Quinlan in early spring 2017 to look for interns and full-time associates.

Here, she discusses what she looks for in a new hire, the importance of internships, and her advice to students.

What does Grant Thornton look for in new hires?

At Grant Thornton, company culture is very important to us. We want to know someone’s career goals and help them achieve it. And I think as an organization we’re looking for a person that’s a team player and is willing to grow with us—long term.

Senior Tax Associate Emily Biller (BBA '12) hard at work. 

In interviews, I tend to ask both behavioral questions to gauge personality type and skill set questions to gauge technical skills. More emphasis is given to behavioral questions, because a person’s skill set will grow and develop over time. I can teach and train new hires how to do the job, but I can’t teach them how to have presence with clients and other team members. 

I also look at how you speak to someone. Do you make and sustain eye contact throughout a conversation? How are your writing skills on your resume, and do you know professional email etiquette in your follow-up email to your interviewer?

These are important skills that students need to have when entering the job market because technical skills will grow with time, but having a good attitude, presence, and writing skills will help young professionals land wonderful jobs with inventive companies.

Why intern and volunteer?

When it comes to internships, you have to determine what’s important to you in terms of what you’re getting out of it.

Do you want a resume-builder type of internship with a large organization where you’ll work on really large clients or task-based projects, or an internship where you can feel challenged by the organization beyond one aspect, and gain invaluable working experience?  

Both look wonderful on resumes, and there is nothing wrong with either one, but students should have a pretty good idea of what they want before starting to interview for internships.

Secondly, for students seeking out other resume-building opportunities, I recommend they supplement paid internships by volunteering with a nonprofit or look at unpaid internships opportunities with nonprofits. Nonprofits are always looking for volunteers to help their organization do everything from communications work to bookkeeping.

For example, keeping the books once a month at a nonprofit is going to be a skill-building experience because you will be learning how to keep financial records and statements for audits. It can also turn into a long-term relationship with the organization with a potential opportunity to help serve on the board.

What advice can you offer students?

Being exposed to different areas outside of your major makes you a well-rounded individual, and this is important no matter where you go on to work, because well-rounded people are able to hold engaging conversations.

I had multiple internships, and none of them were related to what I’m doing now. I just wanted different experiences to be certain that pubic accounting was what I wanted to do with my career.

And finally, don’t be afraid to go out there and make things happen for yourself, always try to give back, and make your career your own. 

Quinlan alumna Bridget Roche, BBA '06

Quinlan Honors freshmen win fifth Quinlan Case Competition


The Five Marketeers (from left) Nick Damato, David Kwok, Rachel Phan, Justin Hopp, and Jorge Figueroa.

By Whitney Critten |  Student reporter

For the first time, an all-freshman team emerged triumphant at the Quinlan Case Competition, a contest that puts undergraduate students’ problem-solving skills to the test before a panel of Loyola alumni and business leaders.

The group of Quinlan Honors freshmen, who called themselves the Five Marketeers, believed they had the talent to win, but knew they had to overcome their lack of classroom and internship experience to do so.

The team—Nick Damato, Jorge Figueroa, Justin Hopp, David Kwok, and Rachel Phan—spent their fall break working around the clock to prepare for the competition. Participants were given just four days to create a real-world business solution for a case focused on self-driving autonomous vehicles for Google.

“We were inexperienced compared to other teams,” says Nick Damato. “But by conducting extensive research and working well together, we were able to compete against upperclassman with more experience and win.”

The Five Marketeers competed against more than 60 students from 17 teams during two rounds of judging by Quinlan alumni and members of the dean’s board of advisors.

Participants spanned all years from freshman to senior, and included students from the Quinlan School of Business, College of Arts and Sciences, School of Communication, and Marcella Niehoff School of Nursing.  

The following teams were awarded cash prizes for their insights and recommendations.

First Place The Five Marketeers
Nick Damato
Jorge Figueroa
Justin Hopp
David Kwok
Rachel Phan
Second Place Think Tank
Wajiha Alikhan
Aimun Naeem
Madina Yusupova
Third Place Business Majors
Nick DiNardi
Carolina Fernandez Piedrahita
Laura Friend
John-Michael Li
Lawrence Metzger Award for Excellence
Given to the highest scoring team made up of all first-year or second-year students.
The Five Marketeers

The case for the Google Car

Case competition organizers intentionally selected a very current case for students to work on.

“We knew that students already had a relationship with Google, and they were interested in the technology behind the autonomous car,” says Amy Kyhos, senior lecturer and faculty lead for the Quinlan Case Competition.

Kyhos adds, “This case challenged them to think through the external environment and Google’s internal priorities, while also being prepared to offer in-depth analysis on a wide range of topics including strategy, privacy, and legal issues surrounding a self-driving vehicle.”

Teams were asked to determine if the self-driving autonomous vehicle was worth Google’s investment, considering competition from auto manufacturers already developing self-driving cars, and the legal and ethical concerns around self-driving cars.

Based on their recommendations to continue or cease development for the autonomous car, students determined how the car aligned with Google’s corporate mission of organizing the world’s information. 

“When the case was announced, our team decided to split up and conduct individual research,” says Rachel Phan of The Five Marketeers. “Once we reconvened and discussed our findings, we were able to analyze the situation and make the best business decision for Google, while also being mindful of potential risks and exposures.”

The teams in action

After the preliminary round of competition, three teams remained—The Five Marketeers, Think Tank, and Business Majors.

The three finalist teams presented their cases to the panel of judges in a Wintrust Hall packed with students, faculty, and staff.

The teams had 10 minutes to present their final recommendations to the judges. After the presentations were done, the teams had a 10-minute Q&A session from the judges.

All three teams were confident in their recommendations for how Google should proceed with plans for a self-driving autonomous car.  But the judges felt one team rose above the rest—the Five Marketeers.

A confidence-building experience

The Case Competition teaches business skills, as well as soft skills necessary for professional success.

“This experience is very similar to situations that students will face in their careers, but provides a safe environment where students can hone their skills,” says Alex See, student services coordinator and staff lead for the Quinlan Case Competition. 

The Five Marketeers agree, and encourage others to participate in case competitions to further develop the communication, presentation, problem solving, and critical thinking skills needed in business.

“This experience has given my team and me the confidence to get involved on campus and express our ideas about the issues facing the business community,” says David Kwok.

Photo Gallery

View event photos in the gallery below or on Quinlan's Flickr page.

Quinlan Case Competition 2016

Learn More

Read about previous Quinlan Case Competition winners:

Award-winning business case to be used nationwide in marketing classes


Professors Stacy Neier (left) and Mary Ann McGrath were honored at a national marketing competition for their business case, which will be used by educators nationwide.

By Adriana Geday  |  Student reporter

A business case study authored by two Quinlan marketing professors—and featuring a social enterprise with a unique connection to four Quinlan alumni—recently received the bronze medal at a national competition.

Professors Stacy Neier and Mary Ann McGrath presented their case study at the annual Jacob’s & Clevenger Case Writer’s Workshop, a selective competition sponsored by Marketing EDGE to strengthen marketing education.

The award-winning case will soon be published in the IMC Handbook and used nationwide by educators in integrated marketing communications classes.

“It is a great honor to be counted among the top marketing cases in the country,” says Neier. “Even more special was that three Quinlan marketing classes had hands-on roles in strengthening the case and helping develop marketing strategies for a social enterprise.”

From Class Assignment to Award Winning

The case asks students to develop a marketing plan for BowTie Cause, an organization that raises awareness and funds for worthy causes by selling bowties.

According to Neier, she found the inspiration for the case in 2012 when Quinlan presented its Emerging Leader award to four alumni who helped BowTie Cause expand in Chicago. Read their story →

The next year, Neier reached out to the Amanda Williams, BowTie Cause’s CEO.

“BowTie Cause sounded like an amazing organization, and their team was excited to collaborate with Quinlan on class projects and brainstorming different ways of increasing awareness and community partnership,” says Neier.

With the help of Williams, Neier outlined a marketing plan for BowTie Cause. This plan was then assigned to a Quinlan marketing class to assist in building a retail audit. Later, this audit was given to a marketing research class where students were tasked to collect and analyze data about the successes of some of these strategies. Based on the results of these class projects, Neier created the first draft of the case study.  

Neier then asked McGrath to join her in revising the case statement for the writer’s workshop competition. The pair assigned the revised case to a graduate marketing course to develop additional marketing strategies for BowTie Cause and strengthen the case study.

“Because of the students’ work, we had all of these insights into BowTie Cause, and we worked hard to honor the students’ contributions in our writing and our recommendations to the organization,” says Neier.

A Case for a Good Cause

Quinlan’s partnership with Bowtie Cause fits well with Quinlan’s mission to educate students to do well—and good—in business.

Neier explains that marketing social enterprises has its unique challenges, which Quinlan students experienced in the hands-on class projects. Additionally, by featuring Bowtie Cause in the case, students nationwide will be encouraged to engage with an organization and a sector that might not otherwise be part of their experience.

For her part, CEO Amanda Williams has seen great value in partnering with the Quinlan School of Business.

“The impact students at Quinlan have had on our organization is huge,” says Williams. “The students and the professors really took our project and ran with it. Especially valuable has been the marketing analytics that Loyola provided, as we as a nonprofit don’t have the resources to invest in that critical data.”

Neier adds, “There’s a very concrete and explicit impact that our students make by engaging with an organization in a real-world setting.” 

MS programs gain STEM designation


The STEM designation “is a concrete sign of the quality of our program," says Katherine Acles, assistant dean of graduate programs.

Four graduate business programs in the Quinlan School of Business are now STEM designated.

The programs are:

  • Master in Business Data Analytics (MSBDA)
  • Master of Finance (MSF)
  • Master of Information Systems Management (MSISM)
  • Master of Supply Chain Management (MSSCM)

The STEM (science, technology, engineering, and math) designation encourages international students to study STEM fields in the USA.

Under this STEM designation, international students can extend their training in the USA by working in their field of study. Students can qualify for a 24-month OPT (Optional Practical Training) Extension, bringing the total OPT time granted to 36 months.

“Strengthening talent in STEM fields ensures that the U.S. remains competitive on the global stage,” says Katherine Acles, assistant dean of graduate programs. “This is a concrete sign of the quality of our program. In addition, this designation will help us recruit more international students and ensure that all our students enjoy a global experience while studying with us.”

About the STEM Designated Programs

  • Master of Business Data Analytics (MSBDA)
    Offers specialized, hands-on knowledge of software tools and techniques for analyzing big data, statistical models, and their practical business application. Learn more →
  • Master of Finance (MSF)
    Emphasizes solving complex finance problems with a suite of quantitative and technological tools, including a requirement that all MSF students learn coding. Learn more →
  • Master of Information Systems Management (MSISM)
    Provides theoretical and practical knowledge in the technology area. Learn more →
  • Master of Supply Chain Management (MSSCM)
    Emphasizes solving critical supply chain problems with a suite of quantitative and technological tools. Learn more →

MS Program Structure

Our MS classes are held weekday evenings and Saturdays on Loyola's Water Tower Campus, which is conveniently located in downtown Chicago, as well as online. The program is on a 10-week quarter system, and for most programs, you can begin in any quarter.

The Quinlan School of Business is a top-ranked business school in the USA. Rankings and reputation →

Resources for International Students

Supply Chain Summit hosts industry leaders and recognizes students


Chicago Supply Chain and Sustainability Summit attendees fill the room at the Four Seasons Hotel in Chicago.

More than 300 people from 100 organizations attended the 5th annual Chicago Supply Chain and Sustainability Summit on October 17, 2016.

Held at the Four Seasons Hotel in Chicago, the summit featured industry leaders from organizations including The Home Depot, Mattel, and A Safe Haven Foundation discussing supply chain operations, sustainability, social enterprise, economic development, and other critical issues in supply chain management.

In addition to the presentations and panels, supply chain professionals and Loyola students were recognized during the summit.

  • The annual Supply and Value Chain Center Awards recognized five individuals and teams for excellence in supply chain. Read more →
  • The Supply and Value Chain Center recognized the summit’s three featured speakers by creating $2,000 student scholarships in each of their names.
  • The Loyola Business Leadership Hub awarded $2,500 scholarships to five Loyola University Chicago students. Read more →

Following the formal presentations, attendees enjoyed a reception in Wintrust Hall in the Schreiber Center, the new home of the Quinlan School of Business in downtown Chicago.

The summit is hosted by Quinlan’s Supply and Value Chain Center, a member of the Loyola Business Leadership Hub.

Event Photos

View summit photos in the gallery below or on Quinlan’s Flickr page.

Supply Chain Summit 2016

Presentation Highlights

Highlights from the summit presentations included:

  • Morning Keynote Speaker
    Michelle Livingstone, Vice President, Transportation, The Home Depot
    Livingstone shared how The Home Depot’s transportation team has adapted to support the explosive growth in their business including on-line channel. She candidly described what she believes is at the heart of The Home Depot’s success: the “inverted pyramid” approach that puts customers and the store-level associates who help them first, while the role of everyone else is to support those efforts. Livingstone then challenged attendees to increase diversity across all levels of the supply chain.
  • Afternoon Keynote Speaker
    Philippe Lambotte, Senior Vice President, Global Supply Chain, Mattel
    Supporting products including Barbie, Hot Wheels, and the newest toys tied to major movies calls for a very segmented and flexible supply chain that can ramp up production quickly. Lambotte described the unique supply chain challenges in the toy and fashion industry and shared solutions, including a mix of automation and manual manufacturing.
  • Luncheon Speaker
    Mark Mulroe, COO and Executive Vice President, A Safe Haven Foundation
    Mulroe discussed the work of A Safe Haven, a social enterprise that provides individuals who are homeless opportunities and coaching to enable them to transition to self-sustaining, productive lives. In addition to the social benefits, this provides a critical source of labor given the current and anticipated talent shortages in the supply chain.

Supply and Value Chain Center Awards

During the summit, the Supply and Value Chain Center recognized the outstanding performance of individuals and teams in the supply chain industry.

The 2016 Supply and Value Chain Center Award winners are:

  • Leadership Award
    Mike Romano, CEO, Associated Solutions
  • Supply Chain Excellence Award—Team
    PepsiCo North America Nutrition, Visual Analytics Center for Excellence
  • Supply Chain Excellence Award—Individual
    Cheryl Harris, Senior Vice President and Chief Procurement Officer, Allstate Insurance
  • Supply Chain Innovation Award
    Jake Crampton, CEO, MedSpeed
  • Supply Chain Sustainability Award
    Reuben Slone, Senior Vice President, Supply Chain, Walgreens

Read more about the winners →

Student Scholarships

The Loyola Business Leadership Hub awarded $2,500 scholarships to five Loyola University Chicago students who plan to contribute to sustainability and supply chain improvements through their career.

The 2016 recipients are:

  • Taylor Bradshaw, Economics major
  • Emma Kautz, Finance major
  • Bridget Randazzo, Environmental Science major
  • Bruce Sakindi, Political Science major
  • April Skillings, Finance major

Learn More

Quinlan undergrads honored at global data analytics conference


Two undergraduate teams traveled to Atlanta for the 2016 Teradata Partners World Conference student competitions. Professor Svetlozar Nestorov is pictured in the center of the first row. (Courtesy of Teradata Partners)

By Adriana Geday  |  Student reporter

Two teams of Quinlan undergraduate students were chosen as finalists to attend the competitive 2016 Teradata Partners World Conference–and one team took home a top prize.

The data analytics conference brings together more than 4,000 participants from Fortune 500 companies, technology startups, research labs, and universities.

The conference prominently featured two student competitions sponsored by the Teradata University Network: the Business Analytics Competition and the Data Challenge Competition.

Two student teams began the competition in late April 2016 and were chosen as finalists in June. Quinlan’s teams—which were the only two finalists comprised of undergraduate students—went head-to-head with 14 teams of graduate students at the international conference, proving their hard work to the judges through presentations and poster exhibitions.

“For the students, it’s a great opportunity to experience a real-world problem, and it’s really amazing how far these projects have come along,” says Professor Svetlozar Nestorov. “The main goal has always been to get students thinking more in depth about data analytics and to continue to develop their leadership and career skills.”

Nestorov traveled to Atlanta with the students for the final round of the competition. He and fellow professors Nenad Jukić and Abhishek Sharma worked with the students throughout the process.

Business Analytics Competition

The Quinlan team in the Business Analytics Challenge received the “Best Presentation” award, which was determined by a vote from conference attendees—a “People’s Choice” award. Teams were judged by conference participants on their presentation and the poster boards displayed in the exhibitor’s hall. Oklahoma State University received the award for “Overall Winner.”

For the competition, teams were tasked with finding a dataset and presenting analytical insights on their topic. Quinlan’s team focused on a dataset revolving around kidney transplantation. The dataset was provided by the United Network for Organ Sharing (UNOS), a U.S. government entity, working alongside the Organ Procurement and Transplantation Network.

Team member Mit Patel says that once they received the data set, the team immediately began preparing the proposal for the competition. From sending updated visuals to validating a model, the team communicated through group chats and in person to develop a coherent strategy.

“Given that 70 teams applied for this year’s competition, the most Teradata has ever received, succeeding would require us to function as a unit. As a group we met throughout the summer, when internships and jobs permitted,” says Patel.

He adds that the award is truly a testament to the quality of Quinlan and receiving it has been much a lesson in management as it has been in data analytics.

Data Challenge Competition 

The Data Challenge Competition tasks students to process information and generate recommendations for a nonprofit organization. This year, the organization was Hire Heroes, which helps veterans find jobs.

The team decided to take a marketing and development approach and analyzed how social media’s relation to registration data, donation trends, and post activity times had the potential to give the organization an immense boost in marketing reach, says student Tayva Vollan.

“The most rewarding part of the entire competition was when the chief programs officer of Hire Heroes said that they had already implemented some of our suggestions and had seen a positive impact in their marketing reach,” says Vollan. “It was so rewarding knowing that our work was going toward a good cause, and hearing how appreciative he was of our suggestions definitely made the eight months of hard work worth it.”

A rewarding experience

Patel from the Data Analytics team agrees that all the work was worthwhile.

“Attending the competition and the conference overall has been the most rewarding experience as a student of the Quinlan School of Business,” says Patel. “So thank you, Quinlan, for making my Loyola experience so engaging.”

Strengthen your alumni network at our Alumni Reception Series


Quinlan faculty and leadership will be in Park Ridge, Naperville, and Evanston this fall.

Network with fellow business alumni at our fall series of suburban Chicago receptions. Quinlan leadership will share the latest news from the Quinlan School of Business during an evening of good drinks, food, and conversation.

Park Ridge Alumni Reception

Wednesday, November 30 | 6 p.m. to 8 p.m.
The Harp & Fiddle

  • Host: Kevin Stevens, Dean
  • Co-Host: John Kostolansky, Associate Professor

Register now →

Naperville Alumni Reception

Thursday, December 1 | 6 p.m. to 8 p.m.
Sullivan's Steakhouse of Naperville

  • Host: Joe Gregoire, Vice Dean for External Relations
  • Co-Hosts: Rocco Martino, Dean's Board of Advisors, and Dennis Nirtaut, Lecturer
  • Guest Speaker: Al Gini, Professor and author of The Importance of Being Funny: Why We Need More Jokes in Our Lives

Register now →

Evanston Alumni Reception

Wednesday, December 7 | 6 p.m. to 8 p.m.
Found Kitchen and Social House

  • Host: Kevin Stevens, Dean
  • Co-Hosts: Mike Hora, Dean's Board of Advisors, and Mary Malliaris, Department Chair, Information Systems and Supply Chain Management

Register now →

Meet Anne Smart, director of the Family Business Center


Anne Smart (right), the new director of the Family Business Center, believes passionately in her work with member businesses and family business education.

By Adriana Geday  |  Student reporter

“What excites me is to be able to retain the best of the past and look forward to a broader future,” says Anne Smart, the new director of the Family Business Center at Loyola.

In June 2016, Smart was named director after serving as the Family Business Center’s membership director for six years. She succeeded Andrew Keyt, who led the center for 18 years before becoming a clinical professor in family business within the Quinlan School of Business.

Here, Smart discusses her vision for the Family Business Center, and its importance to its members and the Quinlan community.

Tell me about your first 90 days as director.

It’s been a time of assessment, celebration, and change. As we celebrate the center’s 25th anniversary this year, it’s a very appropriate time to celebrate our past and look forward to future.

As we look at the past, we see that our outgoing director, Andrew Keyt, did a beautiful job of growing the center and really making our mark in the world of family business. We’re proud to say that the Family Business Center is an internationally recognized leader in family business development and education, and has nearly 100 member businesses, ranging from more than $12 billion to $10 million in annual sales. Over the past 90 days, I’ve enjoyed reaching out to our very supportive member community, and listening to their hopes for the center.  We remain committed to our focus on building and supporting the family business community at Quinlan.

Another change is that the Family Business Center joined the new Loyola Business Leadership Hub over the summer. This new entity within the Quinlan School of Business serves as a point of contact for organizations looking to tap into the resources of Loyola and the global Jesuit network of colleges and universities.

As part of the Hub, five centers within Quinlan are now working more closely together than ever:

I’m excited by the resources and opportunities the Hub will bring to Family Business Center members and to Quinlan.

What excites you about serving as the new director?

It really is the opportunity to expand the Family Business Center mission to include Quinlan students. We’ve created a powerful community of family-owned businesses and will integrate that with an expanded focus on student education in family business at the undergraduate and graduate level. My dream is for the center to eventually teach a course or two at the graduate level, offer a three-credit class at the undergraduate level, and support a Family Business Club for students.

All of us in the Family Business Center believe passionately in our work with member businesses. We know it makes a difference and that the impact of our engaged member community has a positive and long term impact on the families, their businesses, employees and communities. We’re excited by Quinlan’s strong support of our mission and commitment to family business education and sustainability.

Why have a family business center within Quinlan?

Privately held businesses are the economic engine that drives the country’s economy. More people are employed by privately and family-owned businesses than any other form. It is the central organizing unit for business. So, Quinlan students may at some point in their career work for a family-owned firm. Equally important, many of our students may come from families that own their own businesses and operations. Quinlan and the Family Business Center are giving them the tools they need to succeed.

For the members of the Family Business Center, Quinlan serves as an important resource in effectively running and sustaining ownership of their businesses generation to generation. We have the opportunity to present these family run businesses with all of the opportunities that Quinlan offers. Quinlan’s faculty members partner with business owners to share expertise on subject matters, and many of our families have some sort of affiliation with Loyola. Several are even alumni. By sitting within Quinlan, the Family Business Center is able to improve these natural partnerships. 

Learn more

Innovation at Quinlan


Innovation is part of Quinlan, from our new building to the unique partnerships we have with business.

At Quinlan, innovation means unique partnerships with the business community.

From student-run business consulting agencies to our new business leadership hub, Quinlan is giving students hands-on experience, while also strengthening local and mission-focused organizations. Read about some of our newest innovations:

Loyola Business Leadership Hub

The Loyola Business Leadership Hub connects businesses, nonprofits, and government agencies to the experts, research, and resources of the Quinlan School of Business, Loyola University Chicago, and the global Jesuit network of colleges and universities.

The hub includes the following five centers:

Read more →

Urban Social Benefit Incubator

Launched in spring 2016, the Urban Social Benefit Incubator creates innovative solutions to help marginalized communities in the fight against poverty.

The incubator is staffed with students, staff, and faculty from all schools at Loyola and is overseen by the leadership of the Loyola Business Leadership Hub in Quinlan. Services include providing counsel, organizing resources, and creating strategic businesses plans to help better serve target audiences.

In the last six months, the incubator has counseled social enterprises including A Safe Haven, EATS Groceries, Greater Roseland West Pullman Food Network, and Top Box Foods.

Read more →

Rambler Consulting Group

The student-founded and student-run Rambler Consulting Group was created in fall 2015 to provide businesses with new insights and Loyola students with additional hands-on experience.

Rambler Consulting Group works with businesses and government agencies on supply chain management, information systems, marketing, finance and accounting, and business plan strategy and development.

Student teams are drawn from within Quinlan and other schools at Loyola, and are advised by senior Loyola faculty and staff.

Read more →


InQbate, a student-run and -staffed integrated marketing communications agency, launched in spring 2016.

InQbate offers marketing, advertising, and branding services in the greater Chicago area, with a focus on the Edgewater and Rogers Park communities surrounding Loyola’s Lake Shore Campus.

Read more →

An innovative, sustainable home

When our faculty, staff, and students aren't working in the field, they are learning in the Schreiber Center, our new home on Loyola's Water Tower Campus in downtown Chicago. Our 10-story glass facade illustrates that we both invite the community into Quinlan and go out into the community.

Read more →

More innovation at Quinlan

These are just some of our innovative partnerships with business. Read more Quinlan news →

Quinlan’s anti-poverty incubator partners with social enterprises


The incubator is staffed with students, staff, and faculty from all schools at Loyola and is overseen by the leadership of the Loyola Business Leadership Hub within the Quinlan School of Business.

By Whitney Critten |  Student reporter

The statistics are startling: 14 percent of Chicago’s residents live below the federal poverty line, which is currently defined as an income of $24,300 for a family of four.

“When we saw the impact poverty was having on Chicago-area families, we realized that we could—and should—use the expertise within our business school to help,” says John Caltagirone, founding director of the Loyola Business Leadership Hub within the Quinlan School of Business.

Launched in spring 2016, the Urban Social Benefit Incubator joins social entrepreneurs and business leaders to create innovative solutions to help marginalized communities in the fight against poverty.

The incubator began in the Supply and Value Chain Center—part of the Quinlan School of Business—but will housed in the Baumhart Center for Social Enterprise and Responsibility, one of the centers in the newly created Loyola Business Leadership Hub

How it works

The incubator is staffed with students, staff, and faculty from all schools at Loyola and is overseen by the leadership of Quinlan’s Loyola Business Leadership Hub. Services include providing counsel, organizing resources, and creating strategic businesses plans to help better serve target audiences in marginalized communities.

Incubator partners to date

The incubator aligns well with Loyola University Chicago’s commitment of service to others and to social justice. In the last six months, the incubator has counseled social enterprises including:

  • A Safe Haven—social enterprise dedicated to fighting homelessness in Chicago
  • EATS Groceries—grocery supermarket dedicated to providing fresh and healthy food in food deserts
  • Greater Roseland West Pullman Food Network— A coordinated network to combat food insecurity on Chicago’s South Side
  • Top Box Foods—social enterprise providing healthy and affordable grocery boxes to food-insecure neighborhoods 

For A Safe Haven, projects included creating marketing and operational plans, and consulting on the structure and implementation of lean management techniques to improve the profitability of the landscaping operations that employ many of the organization’s residents.

Mark Mulroe, MBA’15, COO and executive vice president of A Safe Haven, says, “Loyola students approach their assignments professionally and with an understanding that the quality of their work would have a direct impact on the lives of many homeless individuals throughout the city.”

Social enterprises or entrepreneurs interested in joining the Urban Social Benefit Incubator should contact Seth Green for more information.

Supply and Value Chain Center award winners announced


“We are pleased to honor these dedicated individuals and teams as part of the annual Supply Chain and Sustainability Summit,” said John A. Caltagirone, executive director of the Supply and Value Chain Center.

The Supply and Value Chain Center at Loyola University Chicago’s Quinlan School of Business is pleased to announce the winners of its annual Supply and Value Chain Center Awards. The awards recognize outstanding performance of individuals and teams in categories including Leadership, Supply Chain Excellence, Innovation, and Sustainability.

2016 award winners

The 2016 Supply and Value Chain Center Award winners are:

  • Leadership Award
    Michael Romano, President and CEO, Associated
  • Supply Chain Excellence Award—Team
    PepsiCo North America Nutrition - Visual Analytics Center for Excellence
  • Supply Chain Excellence Award—Individual
    Cheryl Harris, Senior Vice President and Chief Procurement Officer, Allstate Insurance
  • Supply Chain Innovation Award
    Jake Crampton, CEO, MedSpeed
  • Supply Chain Sustainability Award
    Reuben Slone, Senior Vice President, Supply Chain, Walgreens

Awardees will be honored Monday, October 17, at 11 a.m. at the Four Seasons Hotel Chicago as part of the fifth annual Supply Chain and Sustainability Summit. The awards will be presented by Dwight Hotchkiss, SIOR, from Colliers International. He serves as president of Brokerage Services, USA, and national director, Industrial, USA. Colliers International is also sponsoring the awards.

“The Annual Supply and Value Chain Center Awards gives us the opportunity to celebrate the incredible contributions of individuals and teams in supply chain to their companies, their communities, and our economy,” said John A. Caltagirone, founding director of the Loyola Business Leadership Hub and executive director of the Supply and Value Chain Center. “We are pleased to honor these dedicated awardees as part of the annual Supply Chain and Sustainability Summit.”

For more information and to register for the Supply Chain and Sustainability Summit, please visit LUC.edu/quinlan/scm/summit.

About the award winners

Leadership Award

Michael Romano, President and CEO, Associated

This award recognizes an individual who has demonstrated the values-based leadership espoused by our founder, St. Ignatius of Loyola. Awardees are responsible leaders with a consistent focus on personal integrity, ethical behavior, and a balance between justice and fairness.   

Mike Romano is a 35-year industry veteran with a long history of dedication to people, his company, and the industry. He has championed mentoring and training at all levels of his organizations. For example, in 2012 Mike implemented a manager training program that is still active today and includes skill-building workshops, one-on-one coaching and a personality profile to help the management team develop as leaders, communicators, and collaborators.

Mike is very committed to the industry and has served on the Board of Directors of the Material Handling Equipment Distributors Association (MHEDA) for 10 years, including holding the role of president in 2002.

Supply Chain Excellence Award—Team

PepsiCo North America Nutrition, Visual Analytics Center for Excellence

PepsiCo’s North America Nutrition Customer Supply Chain Team has shown excellence in supply chain through their innovative program, Visual Analytics Center for Excellence. This team leads the division’s reporting and analytical delivery strategies across its core supply chain teams as well as sales and finance partners. It established the Visual Analytics Center for Excellence to improve the process of examining and providing insights to complex business problems through data analytics.

By leveraging new, dynamic, and innovative visualization software, the team retired the use of limiting spreadsheets and manual ad hoc reports to introduce interactive dashboards. The dashboards have dramatically improved overall employee engagement while accelerating organizational decision-making and knowledge creation. The team has created more than 150 dashboards and analytical tools accessible to leaders and tacticians within the PepsiCo Supply Chain. These state-of-the-art resources cover customer collaboration and VMI forecasting, customer POS and DOH inventory tracking, forwarding-looking views of open order details, WMS real-time data and supply chain productivity analysis.

These efforts have also enabled the PepsiCo team to become specialists in the field and unlock valuable employee resource time by quickly identify risks and opportunities for the business. By optimizing, simplifying, and stabilizing the many supply chain processes that occur daily through innovative and effective new processes, the PepsiCo team continues to demonstrate excellence in the industry.

Supply Chain Excellence Award—Individual

Cheryl Harris, Senior Vice President and Chief Procurement Officer, Allstate Insurance Company

Cheryl Harris led Allstate’s Sourcing & Procurement Solutions team through a review of existing supplier management processes and practices, resulting in the construction and rollout of a new, industry-leading, supply management framework, covering more than 1,300 suppliers.

This enhanced model addressed supplier segmentation, refined the supplier scorecard, and created new processes to audit supplier management effectiveness and evaluate longer-term supplier management technology solutions.

Cheryl and her team also updated operating model roles and responsibilities, as well as the process for aggregating the new scorecard and performance data. They developed a communication and change management strategy in support of the new program directing the commodity managers and respective business leads. The new processes identified additional risk areas, including those beyond financial risk, and created a roadmap that outlined the vision and gaps ahead. Cheryl’s success in guiding her team through this extensive transformation is a testament to her leadership and excellence in the industry. 

Supply Chain Innovation Award

Jake Crampton, CEO, MedSpeed

Jake Crampton formed MedSpeed 16 years ago using a business model he devised in response to a business school case challenge as an alternative to the traditional courier model. The company does not simply execute a series of stops from points A to B. Instead, the MedSpeed team investigates the details behind all transportation activities to build a solution that satisfies those collective needs in the most efficient manner possible. This approach allows MedSpeed to rebalance the current transportation network without impacting service to patients, remove redundant service, eliminate waste, and bring down costs.

Their proprietary technology produces actionable insights: MedConnect, MedSpeed’s robust technology platform, facilitates higher quality service, improved chain of custody, efficient and effective business process integration, and smarter decision making for their customers.

MedSpeed is dedicated to improving the health of individuals in the communities it serves. Its corporate culture and strategic goals are directly aligned with this objective. All of the MedSpeed staff are company employees and, as such, have access to a comprehensive suite of benefits and are part of a strong, clear culture that drives performance. Jake’s leadership and vision is a testament to his commitment to innovation in supply chain and logistics.

Supply Chain Sustainability Award

Reuben Slone, SVP Supply Chain, Walgreens

Reuben Slone has been a champion for people with disabilities in the workforce, upholding Walgreens’ commitment to a sustainable and responsible corporate supply chain. Reuben led the strategic implementation to design Walgreens facilities and training programs so that they create more job opportunities for people with disabilities.

The strategy for the program was built on three pillars. First, jobs and expectations would be the same whether an employee had a disability or not. Second, all Walgreens employees would be held to the same work standards for the same pay; and third, the model should be sustainable and fit operational, human resource, and other critical standards.

There are two facilities currently using this model, both of which are 40% more efficient than the traditional model, and there are plans for more. Under Reuben’s leadership, Walgreens has become a leading employer for those with disabilities. Across the Walgreen’s distribution center network today, people with disabilities comprise about 12% of the workforce, almost twice the federally mandated utilization goal of 7%. Reuben’s leadership in this area is a testament to his commitment to sustainability and responsibility in supply chain.

Undergraduate students launch business consulting group


To date, Rambler Consulting Group has completed projects for clients in cost analysis, logistics and product innovation, and business and financial planning.

By Whitney Critten |  Student reporter

In fall 2015, undergraduate Sam Mulroe, BBA ’18, identified two complementary needs: businesses need new insights, and Loyola students were looking for additional hands-on experience.

Three months later, he and a team of fellow students launched Rambler Consulting Group to bring these two together.

The student-run group works with businesses and government agencies in the greater Chicago area on projects including supply chain management, information systems, marketing, finance and accounting, and business plan strategy and development. Student teams are drawn from within Quinlan and other schools at Loyola, and are coached by Loyola faculty and staff.

“The projects are true career experiences for our students,” says Quinlan’s John Caltagirone, who oversees the consulting group with colleague Harry Haney. “These are not academic cases or exercises, but practical work engagements that organizations are depending on the outcomes and deliverables from us.”

Laying the Groundwork

Rambler Consulting Group exists because of Mulroe’s unique perspective on student-led business. Previously, he served as director of operations for Loyola’s student-run guesthouse, The Flats at Loyola Station, and as a managing consultant for Quinlan’s Supply and Value Chain Center.

Once Mulroe identified the need for the consulting group, he developed a business plan with the help of Loyola Limited, which oversees the University’s student-run business enterprises, and gained approval and support from Quinlan administration.

Mulroe now serves as the managing director of Rambler Consulting Group and is helping recruit student consultants. Interested students should apply through Ramberlink

“My experience with Rambler Consulting Group has been the most integral and transformative part of my college education,” says Mulroe.

“Each day my team and I face new challenges and learn new skills that transform us into well rounded and experienced business professionals."

Committing to Social Justice

Rambler Consulting Group is committed to even more than quality business solutions. The group has pledged to donate 25% of all revenues to provide pro bono consulting services to local nonprofits and social enterprises.

“We are growing rapidly and taking on more clients, but it’s very important to me that we stay grounded in Quinlan’s mission by donating a portion of our time and talent to organizations that support the community,” says Mulroe. 

Serving Clients Throughout Chicago

To date, Rambler Consulting Group has completed projects for clients in cost analysis, logistics and product innovation, and business and financial planning.

One client is EATS, a supermarket concept that promotes healthy food choices in food deserts.

“Rambler Consulting Group has assisted my organization in preparing financial projections and summarizing that information into digestible presentations,” says EATS founder Thom Alcazar. "I consult RCG as the business climate changes and I need to adjust my financials.”

For more information on the Rambler Consulting Group, please visit their website

Marketplace diversity research honored with prestigious award


Associate Professor Henderson studies why and when multicultural people are not included in the global marketplace.

Seven years ago, associate professor Geraldine Rosa Henderson, PhD, struck up a surprisingly productive conversation at a conference. Common interests among the group members quickly led to a published paper – and a major award.

The paper, “Beyond Poverty: Social Justice in a Global Marketplace,” which was published in the Journal of Public Policy and Marketing, received the prestigious Kinnear Award in 2015 for significant contributions to the fields of marketing and public policy.

“We were very surprised, and we were very happy,” Henderson said of receiving the honor.

Social justice in the global marketplace

In the paper, Henderson and her co-authors focus on inclusion and exclusion in an increasingly diverse marketplace.

Henderson and her group used a form of marketing scholarship called transformative consumer research (TCR) to share ideas for their winning paper. She says that TCR is different from other approaches because “it’s all about consumer well-being and what marketers can give to consumers.” 

Inspired research for a changing marketplace

Before starting her career in marketing, Henderson worked at IBM by day and pursued an MBA at night. It was in a multicultural management class in the 1990s that she first heard about the concept of Workplace 2000: the expectation that by the year 2000, 85 percent of all new entrants into the workplace would be women and ethnic minorities.

“What I was interested in was ‘What impact does the Workplace 2000 have on the Marketplace 2000?’ These new entrants are now going to have new levels of disposable income they’ve never had. So what do they do with that? And that’s where I started,” Henderson said.

This newfound curiosity about research centered on an evolving marketplace led Henderson to study marketing full-time and eventually co-write her award-winning paper. It is also pushed her to finish her forthcoming book, Consumer Equality: Race and the American Marketplace, which she wrote with two others.

Henderson’s book concentrates on multicultural exclusion, or what she describes as “why and when multicultural people are not included in the global marketplace.”

This social justice-oriented research is, according to Henderson, increasingly important in today’s society. She urges marketers and consumers to think about the chaotic events happening throughout the country.

“A lot of these violent activities that are happening are either in or around a marketplace,” she said. “People sometimes belittle the marketplace because they think it’s frivolous. But it’s a part of our everyday experience. The marketplace is central to what is happening today.”

Henderson’s book on multicultural marketplace exclusion is set to be published later this year.


Dean Kevin Stevens named to Crain's Who's Who in Chicago list


Quinlan Dean Kevin Stevens in the new Schreiber Center on Loyola's Water Tower Campus.

Quinlan Dean Kevin Stevens was named to the 2016 Crain’s Who’s Who in Chicago list. 

The annual list highlights 557 Chicago leaders doing innovative work—in areas such as education, entertainment, and healthcare—from executive leadership at Fortune 500 companies to devoted life-long humanitarians.

For Stevens, this is his first time being featured on the list as Quinlan’s dean, and is a testament to his hard work and dedication to the students, faculty, and staff of Quinlan.

Stevens joined Loyola University Chicago in Fall 2015.

To see the full Who's Who list, please visit Crain’s Chicago

Expatriates need social and workplace support, says professor


Companies must select expatriates not only based on job performance, but their attitude and overall personality, says Professor Varma.

By Whitney Critten |  Student reporter

Most companies select employees to work abroad primarily on job performance alone, yet do not provide continued support for workers and their families. This often leads to negative experiences for expatriates and their families during their time abroad, says Arup Varma, PhD, professor of human resources.  

For the past 15 years, Varma has studied expatriate work issues, specifically looking at the importance of support from host country nationals and how organizations can better prepare and support their workers once they’re abroad.

His research on expatriate issues has been published in notable peer-reviewed journals including the Journal of Managerial Psychology, the International Journal of Human Resource Management, and the European Journal of International Management.

Here, Varma discusses what drew him to his current research area, key insights from his research, and offers some words of advice to students interested in working abroad.

Why study expatriate issues?

I myself am an expatriate. I came from India to get my PhD from Rutgers in engineering in the early 90s, and I’ve been in the United States ever since then. My transition from a collectivist culture in India to the individualist culture in America would not have been possible without my professors and classmates. They taught me how to address them, where to hang out for fun, and key places in the neighborhood to shop.  

Without their support, it would have taken me months to figure this out, and I wouldn’t have enjoyed my time at Rutgers as much as I did. This is why for the past 15 years, I’ve been dedicated to finding out what motivates locals to help expatriates assimilate into local cultures and thrive.

Any notable key insights from your research?

Expatriates need both social and workplace support from host country nationals if they are to succeed on their assignments abroad. Social support helps expats thrive outside of the workplace and immerse themselves into the local culture. Workplace support shows expats how to interact in the workplace because this can vary significantly from country to country–even in the same organization.

With regard to the motivation of locals to help expats, we’ve found they help based on personality type and perceived values similarity. That is, is the expat nice, humble, and willing to learn, and do the local and expat share similar values?

Once we’re better able to understand the motivations of locals to help expats, then we can work with companies to train and better prepare expats for life in a new country. But one thing is certain: When you go to a new country, try to learn the culture first.

How can companies better select and prepare expats?

Companies, specifically human resources departments, must select expats not only based on job performance, but their attitude and overall personality. Are they open-minded? Do they like to travel? These are key factors in selecting the right person to work abroad.

Once a potential expat is selected, companies need to bring the family into the interview process to determine how they feel about moving to a new country. They too need to be open-minded and willing to try new things. It is my recommendation that if the family isn’t on board, then don’t send that employee, because an unhappy home life in a new country has the potential to make the overall experience negative for an expat.

Companies must also encourage potential expats to conduct research on a country before they leave to determine if they need to learn the language. At the same time, it is the company’s responsibility to ensure that there is a support plan in place for the expatriate.

Advice for students who want to work abroad 

I get so excited when students come to me for advice about working abroad, because it’s the way of the world. My advice for students:

  • Study abroad while they’re still in school. It provides students with a glimpse into the life of an expatriate, and also opens them up to other exciting opportunities.
  • Do their research and think about the type of work they want to do, where it’s happening, and the companies that operate there.
  • Find out the types of jobs companies are hiring expats for, and determine if they meet the qualifications for these jobs.
  • Take a deep look at themselves. Do they have the social skills to go out, meet new people and form relationships? This is essential for an expat to survive and enjoy their time abroad.

 In closing, I recommend that if students are presented with the opportunity to work abroad, they must take it, and it least try it out. Give the world a try, and you may surprise yourself. Immerse yourself in different cultures, and let the cultures change you. It will be for the better; I guarantee it!



Color and font affects online behaviors, says professor’s research


Labrecque is currently working on various research projects, two of which marry her interests in design and digital marketing.

By Whitney Critten |  Student reporter

Sensory elements such as color, sound, scent, or touch help shape consumer perceptions about brand personality, likeability, and purchase intent, says Lauren Labrecque, PhD, associate professor of digital marketing.

And as a result, marketers should be aware of how these elements influence the consumer experience, both online and offline, because small changes may result in huge differences.

Over the past ten years, Labrecque has focused her research efforts on understanding the consumer experience on digital and social media platforms, and how sensory elements impact consumers. More recently, she has combined her interest in digital media and sensory marketing in two new research studies.

Her research has been published in notable peer-reviewed journals including the Journal of Marketing, Journal of Interactive Marketing, and the Journal of the Academy of Marketing Science.

Here, she discusses what drew her to her research area, her current research, and why businesses and marketing students should care about academic research.

What drew you to sensory marketing and digital media? 

Growing up, I was very into the arts and being creative—I actually spent some of my time during undergrad studying art and art history at Parsons School of Design and The American University of Paris, which explains my continued interest in color and design. 

While studying at The American University of Paris, in the early 2000s, my brother was getting his master’s in digital media studies at the University of Denver. He would email me links to websites, games, and other digital media. This fascinated me, and I realized that digital media was the future, so I soon joined him in Denver to pursue my master’s degree in digital media studies.

After graduation I spent a few years doing web development and digital marketing. While working in this area, my interest in digital marketing grew, and I continued my education as a PhD student at the University of Massachusetts Amherst. Again, I saw digital media as the future, and my PhD program allowed me the opportunity to better understand this growing area and how it affects both people and businesses.

What are you currently researching?

I’m working on a few different research projects right now, two of which marry my interests in both design and digital marketing. One examines how different typefaces influence consumers’ perception of how a company will protect their online information—specifically looking at privacy policies. Currently there’s no regulation as to how privacy policies online are supposed to look, and recently many brands are designing them to be colorful and graphic driven instead of being text heavy like they were in the past.

This research is being conducted with a Loyola undergraduate student. I love the fact that Loyola encourages research collaboration at the undergraduate level. It’s very unique and offers a great experience for both parties.

Another project looks at online reviews and examines how color impacts the credibility of an online rating. For example, with Yelp, I’m looking at the color of the stars that reviewers use to rate their experience, and I’ve found that with negatively rated products, consumers lend more credibility to reviews with red stars, as opposed to blue.

The color red has been shown to heighten arousal and serves as an alert mechanism. This is due to our biological and learned associations of the color red with danger, risk, warning, etc.

Why should the business community pay attention to academic research?

Academic research provides marketers with key insights on how to get a consumer to complete desired actions on their website, have a better experiences on their website, increase loyalty, and overall result in more revenue generated. And understanding how and why something is occurring is at the heart of academic research. Once we understand something we can then take this and apply it to our marketing efforts.

A practitioner may experiment with changes to his/her site and see positive results, but oftentimes they don’t understand why something is happening and that makes it hard to duplicate and build upon. Academic research offers a deeper understanding into why something is occurring so practitioners take this knowledge and apply it across many situations.  

How are you using research in the classroom?

In my classes, I teach my students both theory and real-world application, along with the importance of always learning new ideas and concepts after they’ve left the classroom. I discuss academic research findings in my classes and sometimes involve my students in research projects.

I stress to them that research, both academic research and practitioner research, is really key to being a highly effective marketer. 

Research reveals local governments have significant fraud exposure


"Fraud in local governments, specifically asset misappropriation, is a problem," says Professor Ellen Landgraf.

By Whitney Critten |  Student reporter

How is a government official in Dixon, Illinois, able to embezzle $54 million over a 20-year period? According to Quinlan professor Ellen Landgraf, massive thefts like this could have been prevented.

Landgraf’s research on anti-fraud measures in local governments highlights their considerable fraud exposure, and suggests they can combat this problem by implementing established internal controls meant to detect and prevent fraud. Later this year, this research will be published by the Journal of Forensic and Investigative Accounting.

Landgraf’s other research interests include accounting education, corporate governance and social responsibility, corporate disclosure and reputation, and ethics. Her research has been published in notable peer reviewed journals such as the Journal of Forensics Studies in Accounting and Business and the Journal of Business Case Studies.

Here, Landgraf discusses what attracted her to anti-fraud, why there was a need for her research, and how her survey can help non-governmental organizations prevent and detect fraud.

What attracted you to anti-fraud?

When I was an undergraduate student at Loyola, I had a co-op job with the Internal Revenue Service in the Criminal Investigations Division. Here, I assisted the IRS coordinator of Strike Force in investigations involving organized crime and political figures. Strike Force consisted of coordinators of various federal agencies—such as the Secret Service, FBI, and ATF—that worked closely with the U.S. Attorney’s Office.

My time at the IRS was a catalyst for my lifelong passion for studying fraud. That, coupled with the ethical values inherent to a Jesuit education, led me to this interest in anti-fraud research.

Why was there a need for your research?

Fraud in local governments, specifically asset misappropriation, is a problem. Money is leaking from local governments and taxpayers deserve to know how this is happening, and what local governments are doing to prevent it.

In 2013, COSO—a collaboration of five professionals societies representing accounting and finance professionals—released an updated framework on internal controls, which is widely used in corporate America. Following the release, my research partner and I decided to examine how local governments prevent fraud.

Thanks to a generous grant from the Institute of Fraud Prevention, we surveyed close to 100 city finance directors on their preferred anti-fraud practices. Prior to our survey, there had never been a comprehensive study on fraud risk awareness and mitigation in local governments.

What were the key findings?

Most city finance directors were not familiar with or interested in COSO 2013. Only 18 governments had implemented it, and seven more intended to implement.

There was very little interest in the use of anonymous fraud hotlines. In my opinion, anonymous fraud hotlines are one the most effective practices for fraud prevention and detection. My research partner, and I also were very surprised that none of the governments had compensation for whistleblowers.

The survey revealed that finance directors consider the most effective anti-fraud measures to be internal audits, management review, surprise audits, and external audits. Based on these findings, local governments have a long way to go to prevent fraud.

Why is this of interest to businesses?

Executives need to understand the importance of having in place internal controls that are employee friendly, such as an anonymous hotline. Such measures detect errors early, and help to protect a company and its bottom line. 

Why is this important to Quinlan students?

Students who go on to work for local governments will already be knowledgeable about anti-fraud prevention and how to mitigate risk through internal controls. Others should read the study to stay informed on how their tax dollars are being spent.  

Quinlan ranked as top undergraduate business program in Chicago


Quinlan's undergraduate business program jumped 3 spots this year to No. 77 in the nation.

Quinlan's undergraduate business program jumped 3 spots this year to No. 77 in the nation from No. 80 in 2016, in the latest round of U.S. News & World Report rankings.

Quinlan is tied as the best undergraduate business program in Chicago.

Also, Loyola University Chicago was ranked as #99 in National Universities, #47 in Best Value Schools, and #64 in Best Colleges for Veterans.

The 2017 U.S. News & World Report Best Colleges rankings were released on September 13, 2016.

See the full list of rankings for Quinlan →

Anti-homelessness nonprofit partners with graduate marketing class to increase awareness


Sherri Ajdini (right), Neli Vasquez-Rowland (center), Michael Anderson, and Amie (Yajuan) Zhu (right).

By Whitney Critten |  Student reporter

This summer, a class project for a social enterprise resulted in creative marketing campaigns to raise awareness of homelessness, and a unique learning opportunity for students.

A Safe Haven, a Chicago nonprofit dedicated to transforming the lives of the homeless, tasked students in MARK 464, a graduate Integrated Marketing Communication course, to create campaigns that would help the organization increase public awareness and financial support.

Diving in to create targeted marketing

Under the direction of adjunct instructor Brendan Shea, the graduate students spent the entire quarter dedicated to the project. Among the highlights was visiting A Safe Haven and meeting with the organization’s president and co-founder, Neli Vazquez Rowland, BBA ’85, to learn more about the organization and its mission.

Student Mike Anderson says the visit to A Safe Haven heavily influenced the direction of his group’s campaign.

“After visiting the facilities and hearing about all of their amazing and successful programs, it was immediately apparent to us that it was a disservice to call A Safe Haven a 'homeless shelter' because they were so much more than that,” said Anderson. “Therefore, we framed our campaign around the premise 'more than a shelter' to differentiate it from all others and validate them as a successful enterprise."

Another group focused its campaign on the hopes and dreams of Chicago’s homeless children to avoid the stigma associated with adult homelessness.

“By focusing on homeless children, our campaign avoided having to explain the causes and realities of homelessness in Chicago,” said group member John Lawrence.

“Instead, we focused on how A Safe Haven is helping homeless children and their families secure a brighter future.”

Instructor Brendan Shea was impressed by the depth and insights of each campaign.

“The students really dug deep to uncover key insights into the minds of potential donors, as well as the perceptions and often misperceptions around homelessness,” said Shea. “Each campaign took a different angle, aimed at attracting a different donor audience, so collectively, A Safe Haven received a rather comprehensive program to drive both brand awareness and, eventually, donor participation.”

Pitch Night  

At the end of the quarter, the student groups presented their campaigns to Vasquez Rowland as competing agencies trying to secure A Safe Haven as a client.

Vazquez Rowland was very impressed with the quality of the presentations and the preparedness of the students. “Each group presented thorough plans that could realistically be implemented on a limited budget,” she said.

At the end of the night, she selected the team of Sheri Ajdini, Michael Anderson, and Amie (Yajuan) Zhu and their “more than a shelter” campaign as the winning agency. 

Vazquez Rowland adds, “Without any reservation, I wholeheartedly recommend a partnership with the top-notch students of the excellent Quinlan School of Business.”

The students also found inspiration in the project. MBA student Emanuela Rossi said, “A Safe Haven does important work for the homeless community in Chicago, and I’m honored to have created a campaign for them.”


Women may be more effective corporate sustainability leaders, suggests research


Professor Anne Reilly (center) is joined in her research by students Taylor Bradshaw (not pictured), BBA ’17, Deanna Cabada (left), BS ’17, and Anna Chudzinski (right), BBA ’18.

By Whitney Critten |  Student reporter

Corporate sustainability initiatives offer the opportunity for new approaches and new leadership, opening the door for female executives to make a key contribution, says management professor Anne Reilly.

This spring, Reilly was awarded a 2016 Faculty Fellowship from Loyola’s Gannon Center for Women and Leadership. The fellowship is funding her analysis of the gender composition of executive leadership and its impact on sustainability in firms ranked highly in Newsweek’s global “Green Rankings.”

Reilly is joined in her research by students Taylor Bradshaw, BBA ’17, Deanna Cabada, BS ’17, and Anna Chudzinski, BBA ’18.

Preliminary Findings

While the study is not yet complete, the research team has already been able to draw some conclusions.

Most striking, according to Reilly, is that while the proportion of women corporate leaders remains small, preliminary findings indicate women leaders are highly visible in key sustainability executive roles, perhaps due to their greater concern over issues related to sustainability and corporate social responsibility when compared with their male counterparts.

They’ve also found that green firms in the food industry and media firms are more likely to have female leaders in sustainability driven roles. Software, specialty retail, healthcare, and insurance companies have few women in sustainability or executive leadership roles.

The research team is also examining global sustainability by exploring European Union legislation on sustainability and gender.

While research is expected to continue through academic year 2016-17, the first paper—The Evolving Role of the Chief Sustainability Officer: Responsibilities, Attributes, & Impacts—has already been accepted by the European Institute for Advanced Studies in Management’s workshop on Talent Management.

Implications: Sales, Risk Management, and Supply Chain

“Sustainability is the future of strategic business and will only continue to grow in importance as consumers seek out eco-friendlier brands,” says Reilly. “Businesses should adapt or risk losing customers to more sustainable brands.”

Reilly adds that sustainability is also an area of risk management and ignoring it can turn into a supply chain issue. For example, food companies need to support sustainable agricultural practices to ensure the continued availability of key ingredients.

Students Gain Hands-On Experience

The three student researchers describe working with Professor Reilly as a great collaborative experience because she’s open to their ideas and values their opinions.

“As a young woman who someday aspires to lead, having the opportunity to study sustainability and female leadership was something that I was very interested in,” says Cabada. “Working with Professor Reilly has only improved my ability to synthesize data and draw valuable conclusions from it.”

Chudzinski adds, “The chance to improve my skills as a researcher, while highlighting opportunities for women to lead is an experience that will stay with me. I truly believe that we’re doing important work that will hopefully bring about change in corporate America.”

High failure rates in project management are avoidable, says professor


Associate professor Gezinus J. Hidding, Ph.D.

By Whitney Critten |  Student reporter

Organizations lose $122 million for every $1 billion invested in projects and programs due to project failure, according to a 2016 Project Management Institute study

Associate professor Gezinus Hidding seeks to end this financial drain through a new framework for project management called Value-Driven Change Leadership, or VDCL. Hidding’s research on VDCL and other topics has been published in notable peer-reviewed journals including the Journal of Business Strategy and the International Journal of Management and Information Systems.

Here, Hidding discusses the high failure rates of projects within information technology groups, why there’s a need for his research, and the implications of his research for the business community.

How many projects fail and why?

According to a 2015 study by the Standish Group, only 29% of software development projects were delivered on time, on budget, and fulfilled predetermined requirements. Nineteen percent failed, and 52% were completed but over budget, late, or did not meet predetermined goals and objectives.

High failure rates can be attributed to a lack of general agreement on project goals, inadequate technology or software, variance from previous projects, constantly changing goals and objectives, and leadership from project managers.

How can Value-Driven Change Leadership help?

Most project managers follow the traditional Project Management Body of Knowledge (PMBOK) framework for project management. PMBOK focuses on activities, resources, and on-time and on-budget completion of project deliverables.

However, by only focusing on the steps to project completion, project managers miss the opportunity to add business value to projects and focus on the organizational change that is involved in managing projects. These factors are a part of the Value-Driven Change Leadership framework.

What does your research suggest?

In examining whether project success can be attributed to the traditional PMBOK framework or the new VDCL framework, we found that both frameworks contributed to success.

Project success factors from PMBOK are executive sponsorship, communications/expectations management, scope management, time/schedule management, and cost/budget management.

From VDCL, the factors include managing value outcomes (agreement on the project’s purpose), human change (good people-to-people relations and overall project communication), and architecture of the end-item (establish what success is early for project team and have it done by the first release).

What are the implications for business?

The PMBOK framework is an effective tool for project management, but has its limitations when it comes to adding business value and addressing change management. And sole reliance on PMBOK by project managers can attributed to high failure rates in project management.

However, by educating project managers on the importance of Value-Driven Change Leadership, project management success rates will start to improve.

The first step lies with executives with the authority to delegate training on VDCL to project managers.

Why is this important to Quinlan students?  

At some point in time, students will be a part of team or project managers themselves and have to meet predetermined goals and objectives from high-ranking leadership. To be successful, they must know what frameworks are the most effective in project management.

Fighting gender injustice drives professor's marketing research

Fighting- gender- injustice- drives- professor’s- marketing- research

Professor Zayer argues that marketers and advertisers must create campaigns that are inclusive.

By Whitney Critten |  Student reporter

Marketing and advertising has power far beyond promoting sales, says associate professor Linda Tuncay Zayer. It shapes consumers’ perceptions of gender and identity, and can both contribute to and ease gender-based inequalities around the world.

In her research, she argues that marketers and advertisers must create campaigns that are inclusive and reflect the evolving perception of gender. Doing so will move the needle toward social justice and acceptance.

Zayer’s research on gender and identity has been published in notable peer-reviewed journals, including the Journal of Advertising and the Journal of Consumer Research, and she has co-edited a book entitled Gender, Culture and Consumer Behavior.

Here, she discusses her current research, what she hopes it accomplishes, and why it’s relevant to Quinlan students.

What drew you to this research area?

Gender is such a critical part of one’s identity, and one of the most prominent discourses in advertising and marketing. From childhood, we learn about gender roles and gender norms through advertising, interactions in the marketplace, the products and services we encounter.

However, the market can perpetuate inequalities faced by women and men due to inaccurate and often stereotypical perceptions. In our 2015 Journal of Advertising paper, my coauthor and I discuss how it is critical to examine advertising professionals’ perceptions of gender to identify how it influences the advertisements they create and disseminate.

The hope is to create awareness and move towards action in advertising agencies that then influences societal perceptions.

What are you currently researching?

I recently completed work with an international group of scholars to formulate a framework to study gender issues as it relates to marketing. In this research, which is forthcoming in the Journal of Public Policy & Marketing, we look to prominent theories on resolving gender-based inequalities.

Specifically, we examine four sites of injustice—health care, domestic and childcare, sexual violence and rape, and sex tourism. The hope is to provide a way for marketing scholars (and more broadly scholars in business) to identify ways to move towards resolving injustices when it comes to gender as well as put forth implications for public policy.

These are complex issues so this research is just one small step in addressing the injustices men and women face globally with regard to gender issues.

What do you hope advertisers and marketers learn from your research?

Marketing and advertising can help address gender inequalities and practitioners can make a difference. For example, in advertising agencies, once there is more awareness of gender-based biases, creatives will hopefully showcase diverse imagery that represents various forms of masculinity and femininity and contribute to sustained social change.

What makes your research relevant to Quinlan students?

Students face issues related to gender and marketing every day—whether that is in their jobs, while shopping in a store, or watching a television commercial—so it’s useful for them to have a way to frame these issues. It also sheds light on the fact that gender issues are not specific to women, and that men need to be included as well.

Quinlan students are also passionate about making the world a better place, so discussing the intersection of gender, business, and social justice in the classroom is well received. These discussions help prepare them to be ethical leaders in the workplace and more mindful individuals.


Fulbright Specialist program sparks partnership of Quinlan and Polish university


"I really enjoyed having the opportunity to build a stronger academic relationship between the human resources program at AGH and Loyola," says Scott.

By Whitney Critten |  Student reporter

This summer, Professor Dow Scott served as a Fulbright specialist, consulting with Poland’s AGH University of Science and Technology on its human resources program.

The Fulbright specialist program places distinguished U.S. faculty and professionals from various industries in short-term collaborative projects at eligible institutions in over 140 countries worldwide.  

Here, Scott, a member of Quinlan’s management faculty, discusses why he went to Poland, what he did, and what he accomplished as a Fulbright specialist.

Why Poland and AGH University?

I was selected by AGH University through Assistant Professor of Human Resources Ewa Beck-Krala, who is a former student of mine. She applied through the university to have me come and help the faculty improve their research skills, develop a strong relationship with industry, and create a partnership with Loyola to teach a joint global human resources course.  

What did you do while in Poland?

I really enjoyed having the opportunity to build a stronger academic relationship between the human resources program at AGH and Loyola’s Institute of Human Resources and Employment Relations.

First, I held a faculty seminar on how to conduct quality research on management topics related to human resources that could be accepted for publication by peer-reviewed management journals.

Second, I presented to the business alumni association and select university administration on how AGH—and specifically the business school—could strength its relationships with the business community. The key to this is creating a strong network that offers mentorship opportunities to former and current students throughout their careers.

After my presentation, representatives from the university expressed strong interest in creating centers of excellence, similar to those that we have here at Loyola, to highlight faculty efforts, leadership, research, and engage industry sponsorship.

I plan to continue working with AGH on the mentorship program and centers of excellence, if they decide to continue these efforts. Professor Beck-Krala and I also started researching how we could contribute to each other’s human resources classes via online tools, and hopefully in the future create a joint study abroad course focusing on global human resources.

How will your work with AGH benefit Quinlan students?

The joint study abroad program will be particularly valuable. Studying abroad in Poland will allow my students to observe and interact with different cultures, which is a key skill for global human resources professionals. My research with Professor Beck-Krala hopefully will make significant contributions to the field of management and will become part of my classes.  

Why you need a vacation


Vacations are a chance to reevaluate—and possibly redefine—who we are, says Professor Al Gini

By Al Gini
Professor of Business Ethics and Management

Ours is a culture whose mythology is steeped in the “ethics of work.” I’m convinced that we need to work, want to work, and find fulfillment and purpose in our work. But I’m also convinced that we need to play hard and vacation hard in order to fulfill ourselves as persons.

The word “vacation” is derived from the Latin word vacare, meaning to be empty or unoccupied, to suspend activity, or simply to do nothing. On vacations we turn aside, go in the opposite direction, and vacate ourselves from our usual course or purpose. The psychologist Wayne E. Oates believes that vacations offer us an opportunity to “empty ourselves of our multiple roles in life.”

Vacations are seen as an antidote to work. They are medicine, a remedy for counteracting the effects of labor. Vacations allow us to be away from the job, to change the patterns of our day, to alter our routine, to reconfigure our actions and habits, and to rediscover ourselves.

Although it is not true for everyone, we commonly associate vacations with travel. In traveling, we take ourselves outside our normal lives and our usual patterns, seeking delight, diversion, and difference. Travel gives us the opportunity or potential for solitude and speculation, for wonder and awe.

Chinese philosopher Lin Yutang said the true purpose of travel is not rest or recovery but rediscovery and renewal. In travel, he said, we “should become lost and unknown.” For Lin, vacations are opportunities to rediscover our basic humanness apart from our accustomed personas and roles in life.

To have no fixed hours, no e-mails or phone calls, and no inquisitive neighbors offers us a chance to expand our horizons. It is a chance to reevaluate—and possibly redefine—who we are. 

This article appears in the Summer 2016 issue of Loyola Magazine. Read more →

Quinlan Career Week: September 6-14, 2016


Launch your career at Career Week 2016.

Find your next internship or a career during Career Week, hosted by Business Career Services. Career Week, which runs from September 6 to 14, is open to undergraduate students, graduate students, and alumni.

For complete details or to register, visit RamblerLink →

Employer Meet and Greets

August 31 through September 6, 2016
Network and learn more about recruitment opportunities at a variety of companies, as they come for an informal meet and greet in the first floor of the Schreiber Center. Companies and their time slots will be listed in RamblerLink.

Employer Resume and Cover Letter Critique

September 6, 2016 |  2-5 p.m.
Improve resume and cover letter during 10-minute sessions with recruiters representing a variety of industries. Register now in RamblerLink.

Employer Mock Interviews

September 7, 2016 | 2-5 p.m.
Practice your interviewing skills in 20-minute mini-interview sessions with employers who recruit Quinlan students. Register now in RamblerLink.

Keynote Speaker

September 8, 2016 | 4:30-5 p.m.
Valerie Bowman, Loyola alumna and author of Anatomy of a Paycheck, will share insights from her career in public accounting, financial services, corporate America, and entrepreneurship. Register now in RamblerLink.

“You Matter” Program and Workshop

September 8, 2016 | 5-6 p.m.
Facilitated by Hassan Akmal, Director, Business Career Services, and the career services team
Discover your passion, purpose, and motivation at this new interactive workshop. “You Matter” will challenge you to “innerview” yourself and become more mindful in your educational and career choices. Register now in RamblerLink.

Book Signing

September 8, 2016 | 6 p.m.
After the workshop, Valerie Bowman will sign copies of her book, Anatomy of a Paycheck. The book helps readers move beyond an initial paycheck to financial independence.

Career Fair Preparation Workshop

September 12, 2016 | 5-6 p.m.
Learn how to showcase your skills, enhance your communication with employers, and identify research to complete before the fair. Register now in RamblerLink.

Fall Career and Networking Fair

September 13, 2016 | 3-6 p.m. | Finance & Accounting
September 14, 2016 | 3-6 p.m. | All Other Business Majors
Meet with more than 70 employers to find your next professional opportunity. Register now in RamblerLink.

Fall On-Campus Recruiting

September-November 2016
Interview with employers looking to fill internship and full-time positions. Companies and their time slots will be listed in RamblerLink.

U.S./Europe double degree program opens career opportunities, says student Steve Hornik


Hornik, who just returned from a summer in Rome (pictured), begins his studies in Seville, Spain, this fall.

Quinlan student Steve Hornik knows what he wants to do after college: launch a business career in Europe or at an international company based in the United States.  

Quinlan’s U.S./Europe Double Degree Program is helping him get there. The program is designed to help students maximize their marketability and serve as an entry point into international business.

Students earn two bachelor’s degrees in four years: one from Loyola University Chicago and one from Universidad Loyola Andalucía in Spain. Along the way, students spend two semesters in Seville, Spain, one semester in Rome, and the remaining semesters in Chicago.

Hornik, who just returned from a summer in Rome, will begin his studies in Seville, Spain, this fall. While in Spain, he is blogging about his experiences.

Here, Hornik talks about his experiences in the program to date.

Why join the double degree program?

I started at Loyola as an international business major, but once I learned of Quinlan’s double-degree program, I changed my major.

The most appealing aspect of the program has to be the opportunities that open up when you graduate through international experience gained by studying in Europe. 

With a European Union degree, you'll have an understanding of how business works in Europe, and a competitive advantage over other applicants with no international experience when applying for jobs.

Tell us about your time in Rome

Academically, I studied ancient Roman architecture and learned how it greatly advanced architecture throughout the world.

My time in Rome also allowed me to explore the beautiful and historical churches immortalized in time by photographs and movies. I learned why the churches were formed and the stories of the saints from the churches.

I also learned the importance of living in the now and creating great memories to share with my family and friends back home in Chicago. Often young people, myself included, obsess over their future and miss out on what’s in front of them.

Why should students read your blog?

I know for most students, certainly myself, the decision to study abroad isn’t an easy one to make. A lot goes into the decision such as cost, safety, and how time abroad can best benefit you as a student and emerging professional.

My blog is a platform to share my study abroad experience with students at Loyola, and hopefully it encourages others to study abroad and gain valuable international business experience, while having a once in a lifetime adventure with friends.

Learn more

Illinois Family Business award winners announced


The Illinois Family Business of the Year Awards recognize multi-generational family business involvement, contributions to industry and community, and innovative business practices and strategies.

The Family Business Center at Loyola University Chicago’s Quinlan School of Business is pleased to announce the winners of its 23rd annual Illinois Family Business of the Year awards.

Presented in six categories, the awards recognize companies with exceptional commitment to family and family business. The center continues to recognize deserving family businesses, and celebrate the family enterprise as it has for more than two decades.

An awards gala honoring the winners and finalists, as well as the tradition, dedication, and success of the family enterprise, will take place on Wednesday, November 16, at 6:30 p.m. at the Four Seasons Hotel Chicago.

2016 award winners

The 2016 Illinois Family Business of the Year awardees are:

  • Small Family Business of the Year
    Winner: Henry Bros. Co.
    Finalists: A. Perry Homes, Kopicki Family Funeral Homes
  • Medium Family Business of the Year
    Winner: Regis Technologies
    Finalists: Edlong Dairy Technologies, MidCo, Inc.
  • Large Family Business of the Year
    Winner: Steiner Electric
    Finalists: Alpine Bank, IDEAL Industries
  • Community Service Award
    Winner: Alpine Bank
    Finalists: Garvey’s Office Products, Handi-Foil
  • Dean’s Award
    Winner: Jelmar
  • Century Award
    Winner: IDEAL Industries

About the awards and gala

The awards drew nominations in six categories: Small (companies with fewer than 50 employees), Medium (50 to 250), Large (more than 250), Community Service, the Dean’s Award, and the Century Award. Those recognized have demonstrated positive family/business linkage, multigenerational family business involvement, contributions to industry and community, and innovative business practices and strategies.

The center’s inspiration for the awards program comes from its numerous nominees: successful and dedicated family businesses whose generosity, innovation, and community involvement have left powerful and lasting impressions. 

“Illinois family businesses, big and small, have a huge impact on our state economy, and they make a very big difference in our local communities, as well,” said Anne Smart, director of the Loyola Family Business Center. “It’s a privilege to shine a spotlight on these committed families and their businesses, and celebrate them through the Illinois Family Business of the Year Awards.”

This year’s sponsors include BMO Harris Bank, Katten Muchin Rosenman, Grant Thornton, MassMutual Hoopis Financial Group, MB Financial Bank, Oxford Financial Group, Perkins Coie, The Private Client Reserve of U.S. Bank, Crain’s Chicago Business, and Eli’s Cheesecake.

For more information on the Illinois Family Business of the Year Awards and to purchase tickets for the awards gala, please visit LUC.edu/ILFBOYGala.


New book examines psychology behind the 2008 financial crisis


"As an economist and professor, it’s my responsibility to examine what caused the global financial crisis," says Professor Malliaris.

The instability of the human mind led to the formation and sheer magnitude of the 2008 global financial crisis, according to a new book co-edited by Quinlan professor A. G. (Tassos) Malliaris, and published by Oxford University Press.

This unprecedented hypothesis is explored through 21 chapters written by leading thinkers, including Federal Reserve Chair Janet Yellen, behavioral finance pioneer Hersh Shefrin, and Nassim Taleb, author of the New York Times best-seller Black Swan: The Impact of the Highly Improbable.

The book, The Global Financial Crisis and Its Aftermath: Hidden Factors in the Meltdown, focuses on three factors that intensified the meltdown—economic, psychological, and social values.

Here, Malliaris talks about the book and his belief that businesses should ground their success in doing the right thing.

Why write a book on the global financial crisis?

As an economist and professor, it’s my responsibility to examine what caused the global financial crisis and how economies should function to prevent another crisis of this magnitude.

With funding from the Chicago Mercantile Exchange Group, my colleagues and I organized an April 2013 conference that brought together experts to investigate the global financial crisis from the perspective of behavioral finance and ethical values. At the urging of the Oxford University Press, my colleagues and I decided to use 11 papers from the conference as a starting point, and continue our research to create an innovative book about the crisis.

What caused the global financial crisis?

The origin of the global financial crisis is rooted in irresponsible mortgage lending in America by major banks due to excitement created in the housing market from builders, buyers, and sellers. In the preceding years before the crisis, the American economy was booming and Americans wanted new houses, so builders built them to comply with the demand and banks granted outrageous mortgage loans to people with no long-term method to pay the loan back.

Everyone got too excited, and thought the “good times” would last forever, but they didn’t. If banks, builders, and homebuyers and sellers had practiced moderation, the crisis could have been avoided or not as intense as it was. In this context, moderation combats excitement and allows for the economy to operate within a normal continuum instead of extremes.

Why is this book of interest to businesses?

I recommend that business executives read this book to gain necessary insight on the financial conditions that may lead to crises such as the formation of asset price bubbles, the role of monetary policies, and waves of overconfidence in economic growth. They also need to understand the psychology behind financial and economic crises. By knowing what causes economic crises, business can take proactive steps to protect the company, employees, and customer base.

What advice would you give to business students and professionals?

The most important advice is the general belief that we follow at Quinlan, which is to do well by doing good. Most young people are told to measure career success and enjoyment by salary and bonuses, but if they correlate money with success, the idea of doing good gets neglected.

I tell my students that ethical business professionals should always give the loan when it’s deserved, but not give the loan when appropriate financial requirements are not met—even if by not giving the loan, you may not get the bonus. This advice will help students moderate challenges throughout their life and become successful by doing the right thing. 

Illinois Family Business of the Year Award finalists announced


Family businesses celebrated their Illinois Family Business of the Year award nominations at a recent reception. Pictured is Katie Kohler of Henry Bros. Co., a finalist in the Small Business award category.

The finalists for the 2016 Illinois Family Business of the Year Awards were announced on Tuesday, July 26 by the Family Business Center at Loyola University Chicago.

Presented in six categories, the awards recognize companies with a strong commitment to family and family business. Professionals in a variety of fields, including family-owned business leaders, served as judges to review all applications and determine the winners.

2016 Finalists

Small Business

Companies with fewer than 50 employees

  • Henry Bros. Co.
  • Kopicki Family Funeral Homes
  • A. Perry Homes

Medium Business

Companies with 50 to 250 employees

  • MidCo, Inc.
  • Regis Technologies
  • Edlong Dairy Technologies

Large Business

Companies with more than 250 employees

  • Alpine Bank
  • IDEAL Industries
  • Steiner Electric

Community Service

  • Garvey’s Office Products
  • Alpine Bank
  • Handi-Foil

The Family Business Center will also recognize exemplary family businesses with the Century Award and Dean’s Award.

Awards Gala

All the winners will be honored at an awards gala on Wednesday, November 16, 2016, at The Four Seasons Hotel Chicago. The gala attracts professionals from throughout the Chicago area, as well as previous Family Business of the Year winners and finalists and members of the Family Business Center.

This year’s gala sponsors include BMO Harris Bank, Katten Muchin Rosenman, Grant Thornton, MassMutual Hoopis Financial Group, MB Financial Bank, Oxford Financial Group, Perkins Coie, The Private Client Reserve of U.S. Bank, Crain’s Chicago Business, and Eli’s Cheesecake. 

For more information on the Illinois Family Business of the Year Awards gala, please visit LUC.edu/fbc.

Quinlan panel encourages Arrupe students to enter business


LeRoy A. Chalmers (BBA '14) greets an Arrupe students at a career panel hosted by the Quinlan School of Business and Arrupe College of Loyola University Chicago.

A diverse panel of Quinlan alumni, students, and friends described their paths to business careers during an event for Arrupe College students on June 20, 2016.

The panelists detailed their professional challenges and successes, and encouraged the nearly 60 Arrupe students in attendance to continue on their path of higher education and a fulfilling career in business.

After the event, Arrupe student Isaac McKeever commented, “I got to talk to Jasmine Shells after the panel and she gave me a lot of advice: advice on how to start up a business, what are different ways to get your name out, things I could do now to start building a foundation for myself, and the finances of it all — business school in general and being an entrepreneur."

Arrupe College is a two-year college of Loyola University Chicago that continues the Jesuit tradition of offering a rigorous liberal arts education to a diverse population, many of whom are the first in their family to pursue higher education.

Event photos

View the photos in the gallery below or on Quinlan’s Flickr page.

Arrupe-Quinlan Career Panel

Event video

Watch the panel below or on Quinlan’s YouTube channel.

The panelists were:

  • Gonzalo Borges
    MBA Student, Quinlan School of Business, Loyola University Chicago
    Business Sectors: Finance and Business Administration
  • LeRoy A. Chalmers
    Executive Director, Greater Roseland West Pullman Food Network
    Degree: B.B.A., Management, Loyola University Chicago
    Business Sectors: Financial Services; Nonprofit
  • Icela M. Diaz
    Marketing Intern and Research Assistant
    MBA Student, Quinlan School of Business, Loyola University Chicago
    Business Sector: Marketing
  • Nicole Lawrence
    MBA Student, Quinlan School of Business, Loyola University Chicago
    Business Sectors: Pharmaceuticals, Product Quality, and Compliance
  • Jasmine Shells
    CEO and Founder, Five to Nine
    Degree: B.B.A., Accounting and International Business, University of Notre Dame
    Business Sectors: Information Technology & Risk Advisory, Nonprofit
  • Flor Torres
    Associate, Client Service, Evanston Capital Management, LLC
    Degrees: B.B.A., Finance and International Business, and B.A., Global and International Studies, Loyola University Chicago
    Business Sector: Financial Services

Steve Katsouros, SJ, Arrupe's dean and executive director, and Kevin Stevens, Quinlan's dean, co-moderated the panel.

Learn more

A decade later, study on women in leadership still holds true


Professor Dawn Harris encourages business to do more to support women in executive positions of leadership.

By Whitney Critten |  Student reporter

Ten years ago, Professor Dawn Harris and her co-authors published a groundbreaking study that examined the pipeline of women in line for leadership positions at major Fortune 1000 firms. Even a decade later, her findings are still relevant for women seeking advancement to the C-suite.

The study, which was published in the Academy of Management Perspectives, was featured in the Harvard Business Review, The New York Times, and CNN International.

Here, Harris discusses her groundbreaking research on women and leadership, and why it’s still important to Quinlan students and businesses. 

What are you trying to accomplish with your research?

At Fortune 1000 firms, there is a noticeable scarcity of women in executive positions of leadership; these companies say that more women CEOs are “in the pipeline.” I was not convinced of this argument, so I wanted to get accurate data through a comprehensive research study to determine the amount of female representation in the pipeline to the C-suite.

“The Pipeline to the Top” provided numerical estimates of the percentage of CEOs that were likely to be women in 2010 and 2016. Estimates suggested that if current trends at the time, 2000-2006, continued, perhaps six percent of CEOs from Fortune 1000 companies would be women by 2016.

According to the 2016 Fortune 500 data, four percent of CEOs in the Fortune 500 are women. I suspect our prediction of six percent for the Fortune 1000 is not too far off. The study also found that nearly half of the Fortune 1000 firms still had no women executives in the pipeline, while the other half of the firms were actively recruiting and promoting women to the top executive ranks. 

Why is this topic of interest to businesses?

Innovative businesses want to attract diverse, top-tier talent. Businesses should have women and minorities in executive positions of leadership to effectively attract and retain a diverse workforce. Businesses should know that although progress has been made, it’s still not enough for adequate representation of women in executive positions of leadership.

To fix this, businesses can provide sponsorship and mentorship programs, as well as address work-life balance concerns.

What makes your research relevant to Quinlan students?

At least half of my students are women, and I’m looking to help create opportunities for both men and women to succeed, now and in the future. I use the findings from this study, along with current events, to advise my students on what to look out for when they’re interviewing for jobs. I tell them to do research and see how many women in the company are in top positions of executive leadership. This will most likely indicate how open a company is to having a more diverse workforce. 

What are you currently working on?

I am currently writing an article that looks at the “best practice” firms with respect to having women in the pipeline. The 2006 article, "The Pipeline to the Top: Women and Men in the Top Executive Ranks of U.S. Companies," uses data from 2000. The new article that I am working on uses data from 2010 to make a comparison with the best practice firms. 


Mentorship program launches in Fall 2016


Alumni and students: Join Quinlan's exciting new undergraduate mentorship program, which launches this fall.

In fall 2016, the Quinlan School of Business is launching a unique mentorship program that will connect undergraduate students and alumni champions who have similar interests and careers aspirations.

This mentorship program is one of the first of its kind in the nation, as soon all undergraduate business students will be connected with a professional mentor.

The program begins in the fall in one section of the required career preparation course, BSAD 220, before expanding to all sections of the course in future semesters.

Alumni: Become a Champion

Give back to Loyola and expand your professional network by becoming a champion! By signing up, you'll be eligible to be matched with a current undergraduate student in BSAD 220. Champions meet twice with their mentees during the semester to discuss the business industry. Meetings can be in person, over the phone, or via Skype.

You'll also have the opportunity to network with other mentors and with business students outside of this class.

Sign up now by contacting Aminatu Rubango at nrubango@luc.edu or 312.915.7907.

As part of the registration process, you'll need to register on LUConnect. Read the Frequently Asked Questions (FAQ).

Once an Alumni Champion form is completed, a member of the Career Development Center team will contact you in about one business week with your Champion Account username and password.

Students: Register on LUConnect

You can connect with alumni at any time through LUConnect, Loyola's program to connect students to alumni for career conversations. The Quinlan Mentoring Program will also use LUConnect to match BSAD 220 students and alumni, so sign up now!

Quinlan professors published in top journal for entrepreneurial business


Assistant Professor Ugur Uygur leads a discussion at Loyola's entrepreneurial space in 1871. (Photo: Steven Abriani)

Assistant professor Ugur Uygur and professor Sung Min Kim are set to publish their latest paper in the Strategic Entrepreneurship Journal, one of the top journals for entrepreneurial business. 

The research looks at the cognitive behavior and judgment of entrepreneurs, and seeks to understand how and why an entrepreneur chooses to focus on certain factors.

In his own words, Uygur discusses the findings and what they mean for the business world. 

What question did the study answer?

This study is about how entrepreneurs make judgments and how those judgments evolve over time. In an entrepreneurial situation, the environment is so uncertain. When you have a new business idea—the company doesn’t exist. The customers don’t exist. The product or the service doesn’t exist. You have to make so many decisions, and it can become a little overwhelming.

It’s too uncertain. And in this uncertainty, entrepreneurs have to decide on a smaller set of questions to answer. Out of the hundreds of decisions they have to make, how do they decide which to focus on? We looked at how they make that decision. And then asked, “Does that change over time?”

What did you discover?

We found that people who have been working on their idea for a while have a very sharp, narrow subset they focus on.

They build a causal map—a map that represents causal relationships such as the actions connected to expected outcomes—in their minds about what factors will influence the success of the company. For instance, will it be price? Or the quality of the product? Or having an innovative business model? Out of these potential factors that might make a difference, they form a causal map of what’s important.

What was another interesting finding?

We observed entrepreneurs with high uncertainty toward their customers or other factors. In those situations, the causal map is stronger. So the conviction is stronger when there’s high uncertainty. 

And that was our theory, because we believe that in a new business situation, the entrepreneur will make up for this uncertainty by focusing on their own judgment. In this environment, they believe their judgment will be a good guide. So they strongly believe in their own thinking.

What are the implications of the results?

If an entrepreneur believes location is important, they will allocate their limited resources toward location, instead of, say price. It will guide their financial allocations. And it will guide most of their decisions. They will spend their time on finding a good location. They will spend less time on securing intellectual property, because they think location is more important.

So having a narrow subset of success factors will help them focus their efforts and time on these factors. If they don’t have that, then their resources will also be randomly or equally dispersed among different things they need to do. Their effort and time will not be focused.

Learn more

Damen Award Recipient 2016: Steven D. McCullough


McCullough earned his degree in operations management in 1989. After 10 years in the private sector, he switched career paths to community development work.

Steven D. McCullough (BBA ’89), a leader in community development and Quinlan alumnus, received the Damen Award during Loyola's annual Founders' Dinner on June 18, 2016.

The prestigious award is granted to distinguished alumni from each of Loyola’s schools and colleges at the dinner. The alumni who are honored exemplify the leadership and service that are the hallmarks of a Jesuit education. 

About Steven McCullough

McCullough has led community development efforts in Chicago and on the east coast. He currently serves as the chief operating officer of Communities In Schools (CIS), the nation’s largest dropout prevention organization. Based in Arlington, Virginia, CIS works with nearly 200 affiliates across the U.S. to help kids achieve in school, graduate, and go on to bright futures.

Previously, McCullough served as vice president of community impact at the Greater Chicago Food Depository, and the chief operating officer of the Safer Foundation, which helps individuals with criminal records successfully re-enter society.

Watch McCullough reflect on why he has dedicated his career to helping the less fortunate:

Founders' Dinner Video: View the video above or on Quinlan’s YouTube channel.

McCullough is appreciative of his Loyola education.

"I am very proud and fond of my experience at Loyola," he said. "Loyola gave me a strong sense of purpose. The Jesuit education actually means something out in the world. Had I gone any other place than Loyola, I wouldn't have that same kind of balance. I wouldn't be the person I am because of it. I love the place."

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Family Business Center names new director


Anne Smart (left) was named director of the Family Business Center. Andrew Keyt (right), the outgoing executive director, joined the Quinlan faculty as a clinical professor in family business. (Photo: Mark Patton)

Anne Smart has been named the director of the Family Business Center at Loyola University Chicago, effective June 1, 2016. For the past six years, she has served as the center’s membership director.

She succeeds Andrew Keyt, who led the center for 18 years. Keyt will remain an integral part of the Family Business Center as a clinical professor in family business within Loyola’s Quinlan School of Business. He leaves the executive director role to focus on working in-depth with families as they set the course for their businesses.

“The Family Business Center is in great hands,” says Kevin Stevens, dean of the Quinlan School of Business. “Given Anne’s many years of close work with member families and her dedication to the success of family businesses, she is a natural successor to Andrew.”

Keyt adds, “Anne is uniquely qualified to take on this new role with her deep and personal understanding of family business and her commitment to the Jesuit ideal. I am excited to work with Anne as a clinical professor and to continue the center’s reputation for thought leadership.”

Center members also voiced their support.

“Anne was and is an integral part of the Taylor Family’s relationship with the Family Business Center,” says Bruce Taylor, vice chairman of MB Financial Bank, N.A., and member of the Family Business Center’s board of advisors. “Her advice and counsel are always on target, as she understands the unique characteristics of our family and individual members’ needs.”

Leadership in family business

This year, the Family Business Center is celebrating 25 years of leadership in family business program development and research for family businesses in the Chicago area and around the country.

Keyt played a key role in the center’s success, including by building Quinlan’s national and international reputation as a leader in family business education and research. In the last 10 years, he led his team to tripled revenues, doubled membership, doubled offerings of the Next Generation Leadership Institute, and the launch of the Family Business Stewardship Institute.

As a clinical professor, Keyt will continue to help guide the Family Business Center’s strategic planning and teach in the Family Business Center’s Learning Institutes. He will also oversee the launch of the center’s newest Learning Institute, the Governance Institute, in Spring 2017.

Smart will build on this momentum as director. She began working with member families in 2009 and subsequently became the membership director. Prior to joining the Family Business Center, Smart served for more than eight years as a career and human resources consultant. Her experience in higher education also includes fundraising leadership roles at Loyola University Chicago and the University of Illinois at Chicago.

Learn more

Hu-Friedy awards scholarships to four supply chain students


For the class project, students visited Hu-Friedy's manufacturing plant. The winning team included Tom Scanlan (third from left) and Jie Wei Lo (fourth from right).

This spring, a class project for a Chicago-based manufacturer resulted in $1,000 scholarships for four Quinlan graduate students.

Hu-Friedy, a dental equipment manufacturer, tasked students in a Supply Chain Analytics course to evaluate alternative shipping strategies to move materials from their suppliers to their manufacturing facilities. The manufacturer was so impressed with the students’ work, it awarded scholarships to the winning team of Mike Larocco, Jihong Liu, Jie Wei Lo, and Tom Scanlan. 

“The partnership was a great experience,” said Luke Durand, 
global procurement manager for Hu-Friedy. “Once the students had the data and information in their hands, we were essentially ‘hands off’ and at the mercy of their experience, knowledge, and education during the class to come up with solutions to our problem statement.”

Hu-Friedy is a member of Quinlan’s Supply and Value Chain Center, and first approached Quinlan about partnering during the Center’s annual Supply Chain and Sustainability Summit last year.

Thinking outside the box

Students spent the entire quarter focused on the project, studying different aspects of the problem. All five groups in the class presented a unique solution, said Professor Maciek Nowak

“I think Hu-Friedy chose the winning team because they went outside the box,” he said. “They addressed all the concerns of the company, but came up with an alternative that allowed for easier implementation with significant cost savings.”

MBA student Tom Scanlan said his group approached the project from two angles. First, they looked into how much it would cost for Hu-Friedy to purchase a truck to handle their transportation needs, accounting for insurance, maintenance, and the like. But he also credits his group’s win with their second angle.

“We did something that no other group did,” he said. “We went out and we got real quotes from 3PL [third party logistics] companies. Basically, with a 3PL, you just outsource it completely. So we put together a cost analysis of how much it would cost Hu-Friedy to buy a truck versus how much it would cost to outsource it to a 3PL. Ultimately, we recommended for them to outsource their shipping.”

A real-world case study

At the end of the quarter, the student groups presented for six Hu-Friedy representatives in the Schreiber Center’s Wintrust Hall. Further, the presentations were webcasted so additional staff could watch from the Hu-Friedy offices.

“It was a great experience,” Scanlan said. “It was great to work with a real company. We weren’t just working on a generic case study from a book. This was a real life Chicago-based company case study that we got to interact with. We visited their manufacturing plant and met with their senior leadership. It was cool to present an actual solution to them.”

Nowak said the company is likely to implement aspects from every group’s suggestions.

“When the students completed their proposals and presented them to us, we were blown away by the thorough analysis and due diligence they put into considering all of the variables that made this project challenging,” Durand said. “The whole Hu-Friedy team was pleased by the results of the partnership with the class and Professor Nowak.”

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Quinlan Executive Education wins silver from Chief Learning Officer magazine


Catherine Jones (right), director of Executive Education, along with Kristi Hodges, accepts the silver award for their custom partnership with DuPage Medical Group.

A Quinlan executive education program was recently awarded a Silver Learning in Practice Award for Excellence in Academic Partnerships by Chief Learning Officer magazine.

Created in partnership with DuPage Medical Group, the program was designed to transform the group’s physicians into strategic business leaders. The highly customized program, drawing from resources across the university, led to their recognition.

Catherine Jones, director of Executive Education, shares her thoughts on developing the DuPage program, and the work of her department.

Why do healthcare systems seek Quinlan out for these programs?

We have worked with some of the largest healthcare systems in Illinois, and we have become known for our work in the industry.

We understand the rapid change happening now in the healthcare sector. It’s largely around legislation. But what we’re finding is that physicians were trained in one way—to be physicians and to focus on the patient.

Now with changes in legislation and the Affordable Care Act, they’re expected to be not only a physician, but also a businessperson. Care has become more outcomes based, more collaborative and driven by metrics that weren’t as critical before.

Can you describe the custom program for DuPage Medical Group?

We put together a mini-MBA curriculum for physician leaders and offered the sessions at one of their medical facilities. Each of the sessions had a different topic, such as leadership, communications, project management, finance, or accounting.

The program included an embedded capstone project, so participants actually had a chance to use the skills they were learning in the classroom to solve a strategic challenge inside the organization. And they worked in teams to accomplish that.

Once a program is designed, how is it executed?

It’s very much a partnership between the client and Loyola. Faculty members bring their subject matter expertise, and the executive education team brings our knowledge of the client and understanding of instructional design for adult and executive audiences. And so together, we craft the learning experience for our clients.

We draw from resources across the university. For example, Quinlan offers an MBA in Healthcare Management. A Quinlan alumnus is the CEO of a healthcare system in Tennessee. We accessed his industry expertise in combination with Quinlan’s faculty, to create a learning opportunity that would resonate with the physicians.

What makes Quinlan’s Executive Education program distinctive?

In this case, it was our ability to listen to what our client really needed and provide a customized solution. We don’t tell a client what they need. We sit down with them, and together, we determine the direction that we should go. And that really sets us apart.

A lot of people think of Quinlan in terms of degrees—undergraduate and graduate—but even after earning a degree the need to build additional skills continues. Just because you have your degree or license, learning doesn’t stop. Executive Education plays a primary role in the effort of providing access to continuing education.

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Graduate students study emerging markets in Southeast Asia


While traveling in Southeast Asia, students mixed educational visits with sightseeing adventures. Here, they spell "Loyola."

For many Quinlan graduate students, academic breaks are an opportunity to study abroad. One class took some time to share their collective reflections about their time spent in Southeast Asia.

In early 2016, a class of 20 graduate students took the plunge and enrolled in Professor Clifford Shultz’s study abroad marketing class—Comparative Consumer Behavior and Marketing in Emerging Southeast Asia. The group spent two weeks traveling through Vietnam, Cambodia, and Thailand.

For many, the main draw of the trip was the promise of cultural immersion in some of the most compelling emerging markets in the world. This is in line with Loyola’s values of immersion, engagement, discernment, reflection, and transformation.

“Dr. Shultz has been perfecting these objectives and facilitating student-learning on iterations of this this trip since 1994,” student Ben Smith said. “This year, we enjoyed many learning experiences, capturing the minds, hearts, and senses of each student along the way.”

Trip Photo Gallery

View the photos in the gallery below or on Quinlan’s Flickr page.

Southeast Asia Study Abroad 2016

“Just go”

This signature line was Shultz’s own “marketing plug” for students on the fence about studying abroad. Further, the testimony from former classmates and advisors alike supported his suggestion. But beyond referral, students cited a number of reasons for studying abroad:

  • Experience Southeast Asia through a well-guided and -rounded educational lens
  • Improve international business acumen and establish new business networks
  • Build deeper relationships with fellow classmates
  • Knock out an MBA class in just 20 percent of the time
  • Treat their taste buds to some savory Asian dishes
  • Escape the wintery Chicago weather

Lasting memories and new reflections

Each student was challenged to maintain a journal while on the trip to document epiphanies and reflections, which were shared in one final class meeting. A few highlights include:

“The Vietnam War was personified for me on this trip through various perspectives. I gained a whole new level of respect for those involved and impacted by this war.”

“People are people. One expatriate shared this point as a seasoned business veteran of over 100 countries and resident of over 14 countries. We all respond well to honest work. Most of the time people desire improvement, the issue lies in training.”

“Western influence and connectivity was quite evident. Even in socialist countries, the capitalistic focus and passion for entrepreneurialism was eye-opening.”

“As a supply chain student, I was amazed at the varying degrees of infrastructure and foreign investments to support public and private business growth. We too easily take for granted our accessibility to goods and resources here in the U.S. Also, global warming and water power plant development have a major impact on the fishing industry and general transportation, which I never really appreciated.”

Parting words

After traveling halfway across the globe, students agreed the Loyola network is strong—and international.

And to prospective students, they suggested focusing on the overall benefit of studying abroad. Instead of thinking about the costs or time spent away from home, think instead, “When will I have the opportunity to do this again?”

Learn more

Human resource degrees receive SHRM stamp of approval


Clinical professor Dennis Nirtaut talks with human resources students. He joined Loyola full time in 2011 after a long career in human resources.

Quinlan’s human resources degree programs recently received an important stamp of approval from the world's largest professional society for human resources.

The Society for Human Resource Management acknowledged that Quinlan’s Master of Science in Human Resources continues to fully align with SHRM’s suggested guides and templates for human resources curriculum. Additionally, Quinlan’s undergraduate human resources degree program was recognized by SHRM for the first time.

The guidelines are part of a SHRM initiative to define human resources education standards taught in business schools.

Here, Dennis Nirtaut, clinical professor in human resources, discusses the merits of SHRM alignment and the growing human resources industry.

What does it mean to be aligned with SHRM?

It’s a real plus to say we’re aligned with SHRM’s standards, which are pretty high. For the HR professional, the distinction definitely means something—it’s a highly sought after recognition. Because even beyond education, the HR industry looks to SHRM for professional certifications. 

SHRM has recognized our graduate program for many years. But this was the first year we put our undergraduate program—which is probably one of the better programs in Chicago—up for review. We were thrilled to see SHRM acknowledge that our program meets their standards.

How does SHRM determine whether a program is aligned with its standards?

Essentially, they’re looking to make sure a person graduating from Quinlan with a degree in human resources has the competencies to work in the field.

They take a look at what we’re teaching and what courses we offer to students majoring in human resources. They review the entire business curriculum. 

What does the job market look like for human resources?

The market is looking up. The projected growth for HR managers through 2020 is 11 percent, where on average, the projected growth for managers is 7 percent. So for the most part, the demand for jobs in human resources is above the norm. 

Most of our students have their choice of employers. I spent a long time in the corporate side of HR, so I have a lot of connections in the business community and so do our professors. We get calls all the time, because people are looking for HR majors. We have more jobs than we have students. It’s frustrating, but it’s a nice problem to have. Things are looking very good.

How do you explain the growing demand for human resources?

The U.S. no longer has a manufacturing economy. In a manufacturing economy, a lot of the investments are capital—manufacturing plants and equipment. Today, we’re in a service economy. And if you want to distinguish yourself as an organization, hopefully your organization hires the best people. That’s your competitive advantage. 

Regardless of your major, you’re going to be involved with HR activities such as training and development, performance management and review, and compensation and benefits. So whether you are in HR or not, you’re going to be dealing with people and HR management.

What opportunities do Quinlan HR students have outside the classroom?

We have the Human Resources Student Association (HRSA), which is a combination of both undergraduate and graduate students. I think it really exposes students to different activities and different interactions in the human resources field. In 2015, we won a SHRM Outstanding Student Chapter Award.

We host five or more programs each year, including company visits. We visited Mercer Consulting, as well as Morningstar, and learned first-hand what it’s like to be an HR consultant. 

Learn more

Quinlan alumna receives Binational Fulbright Internship


Riti Patel (BBA ’14) will spend a year with a Mexican corporation, gaining valuable business experience. (Photo: Mark Patton)

This spring Riti Patel (BBA ’14) received a Binational Fulbright Internship in Mexico, joining the ranks of numerous other Ramblers to gain the distinction.

The prestigious Fulbright U.S. Student Program fosters international understanding through research, study, and teaching opportunities abroad for recent graduates and graduate students.

Beginning in August, Patel will spend a year with a Mexican corporation to dissect the cross-sectional functions among Mexican culture, business economics, and policy to understand how all the pieces influence internal strategies.

A Quinlan alumna, she earned bachelor’s degrees in global and international studies and finance. In her own words, she shares her thoughts on her upcoming Fulbright experience.

What’s involved with a Binational Fulbright Internship?

The program is designed for students who want to have more integration within a company. I won’t necessarily be doing research; rather, I’ll be working with a company for a year, gaining more hands-on business experience.

I’ll have interviews in the beginning of June. After that, I’ll be matched up with the business I’ll be working with. There is a range of possible companies, from nonprofit social enterprises to the Big Four accounting firms like EY. I’ll also be taking business courses part time at a local university.

What sparked your interest in Mexico and international studies?

As an undergraduate, I studied abroad in Chile for about a month, and then I spent about six months in Colombia. That got me really interested in Latin America and helped me realize how different all these countries are.

A lot of times we box them into one section of the world, but it’s not necessarily like that. These countries have different histories and different economic backgrounds. They’re all unique. And that’s something you really have to understand if you want to do business, since they all have their own ways of operating.

Without a doubt working in Mexico I don’t want to deny the fact that we have a huge immigration and migration issue between Mexico, Central America, and the U.S. While I don’t expect myself to change it completely, it is important to learn the impact of trade agreements and business decisions that ultimately affect the livelihood of people in other countries. I’m excited to be able to start those conversations while working there.

How did your Quinlan education help prepare you for this experience?

I had Theodora Bryan while I was in the honors program. She’s a business ethics professor. She’s really been one of those people that have been very impactful—helping me pave a path toward a career I’m passionate about. She’s always telling students that business is supposed to make an impact, it’s not just about profitability. She’s definitely been someone who’s been inspirational.

And other Quinlan professors—like Mike Welch, Mine Cinar, Suk Hun Lee, and Eve Geroulis —helped me develop into a socially conscious business leader.

How does it feel to be selected for this program?

I’m super excited, but a little bit nervous. It’s a new setting, and it’s going to be a mind-opening and life-changing experience.

I’m not fluent in Spanish, but I did use it in school and while I was studying abroad. Of course, it’s a different experience when you’re working in an office. The year in Mexico will help my fluency, and allow me to have a greater understanding of the Mexican culture and business atmosphere.

Learn more

Researcher Profile: Vefa Tarhan, Finance Professor


A paper co-authored by Quinlan finance professor Vefa Tarhan was recently published in the Journal of Financial Economics, which is one of the top three finance journals in the world.

High-quality research makes faculty better educators, says the native of Turkey, as it helps faculty teach the subtleties of complex financial issues. Tarhan adds that research also contributes to the reputation of Quinlan.

Tarhan has a wide range of research interests, including financing decisions, monetary policy, capital market constraints, mergers and acquisitions, share repurchases, and bank portfolio management.

Here, he discusses his Journal of Financial Economics paper and explains why research is important for the academic and business worlds.

What questions are you trying to answer in your paper?

The most important decision businesses have to make is about which investments to make and which ones to avoid. Firms make these decisions by comparing the cost of the investment to the future benefits it may provide. To calculate this, firms often use discount rates based on the cost of the financial and operational capital needed for an investment.

When compared to financial theory, the firms in our sample were using discount rates that were on average substantially higher than they should be and were potentially passing on projects that they should undertake. We wanted to find out what causes this.

Similar research papers state that firms can’t find enough money for their investments, but our research proved that this isn’t true. The constraint in our sample is that companies don’t have enough good managers. Management talent is a scarce resource, apparently, because firms have expressed a lack of quality human capital to oversee as many good investment projects as they could have undertaken.

Our conclusion is that successful firms are the ones that invest in great products and ideas and have the ability to say no to mediocre investment opportunities. These firms use high discount rates to forego some good projects and pursue even better opportunities. 

Read the paper →

What drew you to this research area?

When you’re a finance student, you’re taught the theoretical issues and concepts. However, students frequently complain about a disconnect with the real-world application of these theories. This, primarily, motivates me to see to what extent the content we’re teaching at Quinlan is true in the real world. I want to see whether the world works in the manner textbooks claim it works.

More specifically, there are numerous research papers that are trying to find the answers to the same question about discount rates. Yet, there wasn’t a true explanation for it; it was a mystery.

Why is this topic of interest to businesses?

In theory, businesses should undertake all investment projects when the benefits exceed costs. But, when it comes to investments, no one can predict the future. So it’s especially important for firms to make investment decisions with discount rates to bring these future benefits to the present, in order to compare it with the money they have to spend today. Especially since firms have operational constraints due to a lack of good management to oversee investments, evaluating and choosing only the best investment project will help businesses move forward.

What makes your research relevant to Quinlan students?

In my case, I like to teach application-oriented courses. Since I’ve done the research, I’m able to go beyond teaching at the textbook level; beyond the obvious. Quinlan students are heavily interested in applying what’s learned in the classroom to current events in the world.

For example, in my research, theory states that companies should act on all investments that provide benefits that exceed all costs of capital, but this simply isn’t true in the real world. What we’ve found doesn’t mean that textbooks are wrong; it’s just that they don’t talk about management talent. The types of research that interest me are those that explores issues beyond textbook version of how things work.

Why do you submit your research to top journals?

I go for quality by trying to write papers that would make significant contributions to our understanding of financial issues.

My goal has never been – even when I was a young faculty without tenure – to maximize the number of research papers. My goal has always been to try to work on research projects that may make significant contributions to the finance field. In other words, when it comes to research, I have been willing to sacrifice quantity, in hopes that perhaps I may be able to produce high-quality articles.

How else do you partner with the business community and policy-makers?

I’ve always wanted to get my hands dirty and do something of significance.

In my younger days, I began by consulting for firms. But now I try to give back some of my human capital to the country I was born in by consulting with political parties in Turkey on economic and financial issues. I also have good relations with the business community. Now, I get together with CEOs of major corporations 2 to 3 times a year in Turkey.

Congratulations, Graduates!


All smiles at Quinlan's Commencement Ceremony on May 12, 2016.

More than 600 undergraduates and graduate business students graduated from Loyola University Chicago on May 12, 2016, at Loyola’s Gentile Arena.

Keith Cienkus (BS ’89, MBA ’95), division vice president of global operations at Abbott Laboratories, delivered the keynote address, and Vincent L. Johnson (BS ’88, MD ’93) was the student speaker.

Experience Commencement 2016 through the photo galleries and video below.

Commencement Ceremony Photos

Commencement Ceremony 2016

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Commencement Celebration Photos

Commencement Celebration 2016

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Action Photo Booth Photos

Quinlan Commencement Celebration - Action Booth

Photo gallery: View the photos in the gallery above or on Quinlan’s Flickr page.

Commencement Ceremony Video

Video: Click here if you are having trouble playing the video.

Quinlan celebrates commencement on May 12


New graduates celebrating after the May 2015 commencement ceremony.

Congratulations to the Class of 2016! This academic year, 366 undergraduates and 307 graduate students applied for graduation.

Graduates and their guests will travel to the Lake Shore Campus for the commencement ceremony on Thursday, May 12, with an alumni reception afterward. In the evening, they are invited to return to the Schreiber Center for Quinlan's commencement celebration.

Commencement Details

Thursday, May 12 at 10 a.m.
Gentile Arena at the Lake Shore Campus
All ceremonies will be broadcast live online.

More on the 2016 Commencement Ceremony →

Social Media: #LoyolaChicago and #LoyolaQuinlan

Celebrate commencement with us on social media! Use the #LoyolaChicago and #LoyolaQuinlan hashtags to follow along and share your photos.

Follow Quinlan on Facebook, Twitter, and Instagram for news and photos.

Quinlan Commencement Address


Keith Cienkus (BS ’89, MBA ’95) will deliver the Quinlan commencement address. As the division vice president of global operations for Abbott Laboratories Diagnostics Division, he works to elevate healthcare worldwide.

Cienkus earned an undergraduate degree in biology and an MBA at Loyola University Chicago. Read more about Cienkus →

Quinlan Graduate Profile

Recent college graduates face fierce competition for jobs. See how a Quinlan degree helped Ashley Pradhan (BBA '16) stand out and succeed. Read more about Pradhan →


Major: Information systems
Job: Associate consultant at Aptitive in Chicago

The perils of ambition


By Al Gini
Professor of Business Ethics
Chair of the Department of Management

Although 2016 is a presidential election year, candidates for arguably the most important elected leadership position in the world started actively campaigning as early as 2013. At one point—if I can keep all the names and numbers straight—there were 14 Republicans and six Democrats seeking their party’s nomination. But the question for me is both a practical and philosophical one: Why would anyone want the job?

America has a staggering array of economic, political, and social problems. The state of international politics and finances is confusing and ever-changing. And the world faces emerging problems like global warming, overpopulation, and terrorism. Why would anyone want to spend four, or possibly eight, years trying to address these problems?

Candidates on both sides of the aisle share one common attribute: ambition. Our job as voters is to try to figure out how each candidate views and defines ambition.

Ambition in leadership can be a virtue or a vice, a driving force or a destructive preoccupation. It can result in enthusiasm and efficiency or in self-indulgence and selfishness. And, to add insult to injury, misfocused ambition can easily degenerate into obsessive arrogance. Roman statesman Marcus Tullius Cicero distrusted and disliked the young Julius Caesar because he thought Caesar’s ambition for power was too crude and personal. Cicero believed Caesar did not just wish to rule Rome but that Caesar wanted to be Rome.

True political ambition should manifest itself in wanting to develop one's talents not in the service of self but in the service of others. Great leaders always put the organization’s success ahead of their own. Leadership is never about the leader—the first and final job of a leader is to serve the needs and the well-being of the people they lead.

Authentic power is about service, duty, and responsibility. True leaders don’t ask, “What do I want to do?” They ask, “What needs to be done?”

This article appeared in the Spring 2016 issue of Loyola Magazine. Read more →

Undergraduate honored for marketing research


Tolentino (right) presents his research at Loyola’s Weekend of Excellence in April 2016.

During the 2016 Weekend of Excellence, marketing and economics student Austin Tolentino received Loyola's Outstanding Undergraduate Researcher Award.

Stacy Neier Beran, senior lecturer, described her experience working with Tolentino as “second to none” and stressed Tolentino’s impressive “curiosity and grit” as a researcher.

“Austin impresses me on a daily basis,” she said. “His acumen and intellect influence my activities to be more purposeful and disciplined in my own teaching and research.”

Professors Anne Reilly and Linda Tuncay Zayer also recommended him for the distinction.

In his own words, Tolentino describes his time spent at Quinlan:

What is your research focus?

My research is focused on marketing and sociology. Originally, I was an economics student, but after taking Dr. Neier Beran’s introduction to marketing class, I added marketing to my major because both the micro- and macro-intersections of consumer behavior were really interesting to me. 

I came to Loyola with an appetite for storytelling, and Dr. Neier Beran — as well as other Loyola professors and marketing academics at last year’s Macromarketing Conference — opened my eyes to the sort of powerful stories that can be told through research.

This summer, I’ll be participating in the Research Mentoring Program at Loyola, assisting a PhD candidate in his study on community organizing in Chicago. From that, my goal is to not only refine my research skills but also learn what I can about civic engagement to build off my research in next year’s Social Innovation/Social Entrepreneurship Fellowship, which will be focused on the relation between social discourse and civic entrepreneurship.

What research did you present at the Weekend of Excellence?

My research for the Social Innovation/Social Entrepreneurship Fellowship sought to explore new opportunities and obstacles for online engagement between artists and audiences. The purpose was to validate whether a connected business model could integrate the goals of public art. Instead of products leading a culture of consumers, I wanted to know how culture could lead the development of products. I specifically focused on how such engagements leveraged trends in collaborative consumption, from crowdsourcing to crowdfunding.

What are some of your accomplishments at Loyola?

Three friends and I participated in the Quinlan Case Competition last fall and won first place. Other than that, I am excited to be a part of the first chapter in inQbate’s story at Loyola Limited.

Outside of Loyola, I also participated in the Campus 1871 Startup Competition last year, where I helped a seed-stage startup team develop a marketing strategy. In the following summer, I participated with the same team in the Center for Neighborhood Technology’s Urban Sustainability Apps Competition to help refine the pitch presentation, and we won first place. 

What’s your favorite Loyola memory?

In a single moment, my favorite Loyola memory is having witnessed the epic dunk made by Montel James in the first game of the CBI championship series against Louisiana-Monroe last year. Loyola would go on to win the championship.

How has your time here helped shape you as a person?

Exciting as that moment was, it pales in comparison to the summation of my Loyola experience so far. I cannot be thankful enough for the Loyola community, including the friends, professors, and mentors who have all shaped me as a person. Without them, I wouldn’t have learned to be intentional in the activities I engage in so that I can better serve humanity. To me, the lessons from those experiences are personal accomplishments I take more pride in than the competitions above.

What do you hope to be doing 10 years from now?

Ten years from now, I hope to be contributing to research on economic development, whether at a university or business. Especially given today’s circumstances, or even that of this century, I hope to be a part of the story (or stories) that reduce inequality and uphold social justice.

Quinlan offers new graduate certificate in Information Systems


Professor Nenad Jukić directs the Information Systems Graduate Certificate program. He has taught at Quinlan since 1999.

This year, Quinlan launched a new graduate certificate in Information Systems, which offers the opportunity for intense immersion in the field without committing to a full-time graduate program.

In this five-course program, students learn how to translate business goals to technology solutions. The certificate can be a stand-alone credential or be applied later to a Quinlan MBA with an information systems concentration.

Quinlan’s information systems students have historically enjoyed “extremely high” job placement rates in the field, according to Professor Nenad Jukić.

“If you’re a serious student with interest, aptitude, and dedication, you’ll have job offers by the time you graduate, if not sooner,” he says.

Here, Jukić shares some additional insights on the new certificate program.

Who’s this certificate for?

The target is people who are looking to learn the skills necessary for managing projects related to information systems. You have to have some inclination and aptitude for the field of data and information.

You don’t need a background in computer science or information systems. This program is for those with background in accounting, finance, economics,  marketing, statistics, math, psychology, or other fields. We’re looking for students who are either looking to change paths or supplement their existing career.

What makes Quinlan’s Information Systems program stand out?

I would say we’re second to none in our instruction. We have top-notch instructors.

We’re well connected into a sizeable alumni network. And I think our location in Chicago is a tremendous advantage, offering numerous opportunities with local companies in this high-growth industry.

What are the Information Systems courses like?

We have great courses. We continuously monitor what skills are necessary. And even though our field changes a lot faster than any other field, not everything in the required skill set changes from year to year. So we have an excellent balance, of changing when we need to change and not being too reactionary to the latest trends.

With what we teach in our courses, our students leave with a competitive advantage. And a great faculty teaches all our courses. I’ve worked for a long time on this program, and I’m really proud to say that every one of our core classes is taught very well.

Are companies hiring for Information Systems?

Silicon Valley, Seattle, and even Chicago—all these cities are experiencing shortages of talent. For example, we just had a visitor from Amazon, and he told us they have a staggering amount of unfilled jobs in the field. It’s really not difficult at all for a brand new graduate to get a job. It’s to the point where companies end up poaching talent after two or three years. At that point, you’re golden. Growth is showing no signs of leveling off, much less declining.

Learn More

Expert panel discussed economy and environment in final Signature Series event


French economist Gaël Giraud, S.J., (from left) discusses economic inequality with Professor Michael Schuck and Monsignor Michael M. Boland of Catholic Charities of Chicago.

Quinlan’s 2015-16 Signature Series concluded on April 21, with nearly 120 business leaders, faculty, staff, students, and alumni converging on Quinlan to explore the intersection of business and social justice.

Speakers sought to answer the question, “Can business help create a just world?” in light of Pope Francis’s harsh critiques of modern capitalism.

Experience the event
Watch the event video →
Listen to the event podcast →

Leading French economist Gaël Giraud, S.J., was the featured speaker, with a panel comprised of Monsignor Michael M. Boland, president and CEO of Catholic Charities of Chicago, and Michael Schuck, professor of theology at Loyola.

Kevin Stevens, Quinlan’s dean, and Michael J. Garanzini, S.J., Loyola’s chancellor, delivered the opening remarks.

“We here at Loyola are firmly committed to social justice,” said Stevens. “Faculty and staff at Quinlan live this mission by partnering with social enterprises—organizations that do good and make money at the same time.”

Garanzini then called attention to the international Society of Jesus report, “Justice in the Global Economy: Building Sustainable and Inclusive Communities,” and the issues highlighted in the report.

“The political and social instability caused by the careless and inhuman acts of tyrants and fanatics has its consequences, not only in faraway places, but sometime in our streets as well,” he said. “We’re foolish to think we can do nothing about it or that the causes of these phenomenon are not interrelated with the way we live, the way we eat, and the way we work on this side of the globe.”

Economy and environment intricately connected

Giraud’s address, “Pope Francis’ Integral Ecology: The Viewpoint of a Jesuit Economist,” touched on a variety of topics, including Pope Francis’s statements about the need to steward the environment, the environmental impact of developing economies, and the need to reduce our carbon footprint.

Energy drives economic growth, Giraud said, but when developing countries increase their carbon output, it has repercussions across the globe.

“Climate change is a serious problem we can’t ignore,” he said. “If we don’t do anything, major cities will be underwater by the end of the century.”

Even if carbon emissions cease globally, the Earth is still on a warming trajectory. Giraud said scientists suggest an increase of more then two degrees would have dire consequences for communities around the world, especially in Africa. 

Schuck used the trope of a papal serial novel to describe the story of economic justice, as told by papal encyclicals. The “novel” begins in the 1890s, with Pope Leo XIII’s Rerum Novarum, which tells the story of the conflict between workers and industrial business owners in a market economy. The novel’s latest installment is Pope Francis’s Laudato Si’ and the theme of unprecedented environmental deterioration and the need for a sustainable model of production.

“It’s been wonderful to see Pope Francis speak so deeply and so passionately about the concerns of the poor,” Boland said as he closed out the event. “One out of three people in Chicago come to Catholic Charities for help every year. So we realize that the church’s social teachings are lived at Catholic Charities every day, and we have the privilege of working with Loyola, which has done so much over the years.”

In the evening, another 65 students and others gathered for a panel discussion on redressing economic inequality. The panel featured Giraud, Nicki Pecori Fioretti, MBA ’96, of the Illinois Housing Development Authority, and Quinlan professors Timothy Classen, Tassos Malliaris, Linda Tuncay-Zayer, and Clifford Shultz.

Quinlan’s Signature Series will continue next year, with a continued focus on economic inequality.

Event photos

View photos from the event in the gallery below or on Quinlan’s Flickr page.

Business of Social Justice


Learn more

Announcing inQbate, a student-run integrated marketing agency


Students Alexandra Ofori-Atta (from left), Bianca Galan, and Austin Tolentino, members of inQbate, meet at Lake Shore Community Partners office in Loyola's Granada Center.

In the fall of 2014, seven Quinlan students saw an opportunity: the inactive marketing club could be refashioned into a unique hands-on business.

Over the course of 18 months, the undergraduate students collaborated with Senior Lecturer Stacy Neier to rebrand and reposition the student organization. This spring, their hard work led to the launch of inQbate, a student-run and -staffed integrated marketing communications agency.

“Students were eager for an organization where they could think through real marketing problems and apply it to their undergraduate education and career paths,” said Neier.

inQbate joins the Loyola Limited family of student-run business enterprises, which includes a restaurant, pub, guesthouse, and bicycle shop.

“We wanted to rebrand and reposition this new organization so that future students would be provided with an organization to wrap their arms around for career development, to have real-world exposure to clients, and to serve the needs of our community,” said Neier.

Although not a traditional advertising agency, inQbate provides students with an experience similar to marketing and communications consulting.

“By working in an integrated agency, not only am I developing closer relationships with clients through research, but I am also involved more strategically by collaborating with fellow peers who bring their unique experiences and skills from PR to graphic design to videography,” said sophomore Austin Tolentino, marketing assistant for inQbate.

A Unique Learning Experience

InQbate offers marketing, advertising, and branding services in the greater Chicago area, with a focus on the Edgewater and Rogers Park communities surrounding Loyola’s Lake Shore Campus.

“The vision is to act as an incubator of ideas, and provide students studying advertising, marketing, graphic design, and public relations with a comprehensive, relevant, and unique experience,” said Neier.

inQbate is guided by an advisory board of alumni who worked for Loyola Limited in creative, marketing, communications, and advertising. inQbate students pitch ideas to the advisory board for feedback before presenting final materials to clients.

Commitment to Social Justice

inQbate brings a social justice lens to all of its work, beginning with the clients it serves: Loyola Limited businesses, social enterprises, entrepreneurs, and nonprofit organizations.

“We’re looking for companies or entrepreneurs in any industry that are already on their way to building businesses that improve communities, yet need that extra consultative team to make the biggest impact it can,” says Neier.

Learn more by visiting the inQbate website.

Quinlan rises in Bloomberg rankings


“Our faculty and staff are always working to increase the value of our programs, and it’s gratifying to receive this external validation of our work,” said Quinlan Dean Kevin Stevens.

Quinlan's undergraduate business programs jumped 54 spots in Bloomberg's "Best Undergraduate Business Schools" rankings. For 2016, Quinlan comes in at No. 63 out of 114 programs, up from No. 117 the previous year.

“Quinlan is certainly on the move,” said Susan Ries, assistant dean for undergraduate programs. “This ranking illustrates the high value that employers place on our degree and reinforces Quinlan’s strong reputation in the business community.”

The Bloomberg ranking is based on employer and student surveys, starting salaries, and internships.

The ranking was released on April 19, 2016. See the full list of rankings for Quinlan →

Quinlan hosted 4th annual Social Enterprise Competition


The competition winner, sharEd, provides low-income schools in India and Bangladesh with educational materials.

Quinlan awarded $10,000 to business plans focused on social enterprise at the fourth annual Social Enterprise Competition on April 9.

The competition, headed by Quinlan senior instructor Michael Welch, encourages an entrepreneurial spirit focused on the common good.

“More and more, companies are looking for the opportunity to provide some social good in their community as an integral part of the business,” Welch said. “The Social Enterprise Competition is consistent with and furthers Loyola's mission of social justice and Quinlan's mission of using business to ‘do well by doing good.’”

The competition also allows those interested in social enterprise to come together and share their thoughts and experiences in trying to expand this concept into more kinds of businesses and locales.

2016 winners

From all the submissions, first-round judges narrowed the field down to five finalists. The remaining groups then presented their business plans to a new panel of judges, who asked questions about their organizations and their plans for implementation.

For both rounds, judges came from across the business community. All the first-round and final-round judges were Loyola alumni. Nin Desai, NinVentures LLC CEO and Quinlan alumna, served as a finalist judge and keynote speaker.

Top Finalists
First Place ($5,000) sharEd provides low-income schools in India and Bangladesh with educational materials
Second Place ($3,000) Kulisha manufactures commercial grade aquafeed to enable farmers to supply food insecure individuals in the region with healthy animal protein
Third Place ($2,000) Movimuestras implements a medical test sample transportation system for health centers and laboratories in Peru

An international competition to do good

The competition had a distinct international flair. 

“Most of the plans had a national or international scope, and among the finalists, the plans described organizations that would work in countries including India, Kenya, and Peru,” Welch said.

Business plans were also submitted from around the world. Kulisha, the second place winner, included students from Brown University, the University of Michigan, UCLA, and the University of Nairobi. 

Event photos

View photos from the event in the gallery below or on Quinlan's Flickr page.

2016 Quinlan Social Enterprise Competition Finals

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Nowak becomes Quinlan's latest Fulbright Scholar


Professor Maciek Nowak will spend six months in Poland, working to improve the country's supply chain.

Associate Professor Maciek Nowak has become Quinlan’s latest Fulbright Scholar. The Fulbright Program is the flagship international educational exchange program supported by the U.S. government. 

Fulbright Specialist

Nowak, a member of Quinlan’s supply chain management faculty, will spend six months in Poland, beginning in January 2017, and work alongside faculty with the Warsaw School of Economics, the leading business school in Poland.

While abroad, he will focus on two projects: improving the network design of the Polish post office and studying how the Polish supply chain can better support the country’s economic expansion.  

Here, Nowak discusses his research and his goals while representing Quinlan on a global stage.

Why focus your research on the Polish postal system?

Poland is on the forefront of the Central European economic and political rebirth, but is still recovering from fifty years of Communist rule. That system was completely inefficient, and even after the fall of Communism, a lot of the same mentalities stayed in the system. It’s hard to change the culture.

But in the last few years, due to competition in the package delivery market, the Polish Post really had to make changes. They’ve done a lot of good things to improve their operations.

I hope my work helps establish the Polish Post as an international benchmark for governmental efficiency and contributes to Poland’s economic resurgence.

What else will you focus on?

My research on the developing Polish supply chain system will build off of my work in two other emerging markets: Vietnam and Tunisia. Central Europe, particularly Poland, has become a production hub for Europe and beyond. I hope to provide a snapshot of the components the country has in place to allow for domestic and foreign business to grow.

I’ll also focus on developing relationships abroad. At the Warsaw School of Economics, I will have the opportunity to talk up Loyola’s program, and see what opportunities there are for Polish students to come to the U.S.

Why did you apply for the Fulbright Scholarship?

The Fulbright program was established to create stronger academic connections between the U.S. and other countries, and to promote those countries within the U.S. That’s always been my goal, to cultivate deeper connections with Poland, to improve relationships, and to help Polish academics gain more prominence. The Fulbright program really allows for that.

Chicago obviously has a very large Polish community, and it would only make sense for us to partner with a school in Warsaw. It would be great to have more students coming over from Poland to study at Loyola. I think developing stronger ties is win-win for everyone.

What’s your connection with Poland?

I was born in Poland, and I speak Polish, but my family moved when I was two years old.

I’m looking forward to just experiencing day-to-day life. I’ve visited many times, and most of my family is still over there. But my trips have always been these week or two-week visits. This will be very different. I’m a little nervous about the winter—their winters are supposedly harsher than Chicago winters.

Quinlan Fulbrights
Nowak joins Professor Clifford Shultz on Quinlan's list of Fulbright Scholars. Shultz served as a Fulbright Scholar in Croatia in 1997 and has had multiple Fulbright assignments in Vietnam beginning in 2001.

Two other Fulbrights were awarded to Quinlan this year:

  • Professor Dow Scott will serve as a Fulbright Specialist at Poland's AGH University of Science and Technology in Summer 2016.
  • Alumna Riti Patel (BBA ’14) received a Binational Fulbright Internship in Mexico. Read more →

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Startups benefit from Loyola expertise


Corporate Engagement hosted a celebration and networking event for the startup companies who participated in Loyola's 1871 mentoring program. (Photo by Natalie Battaglia)

A small group of Chicago startups recently completed an intense Loyola mentorship program conducted in collaboration with 1871, Chicago’s entrepreneurial hub for digital startups.

Over the course of 10 weeks, the startups met weekly with an interdisciplinary team of Quinlan and School of Law faculty to work through key business issues.

From startup to success

One of the startups was TraknProtect, an inventory-tracking platform providing real-time location of properties and resources. In February 2016, TraknProtect signed a deal to provide Hyatt Regency McCormick Place with beacons on the hotel's equipment, including rollaway beds, cribs, and fridges.

Sagar Patel, COO and co-founder of TraknProtect, appreciated the outside, big-picture perspective that Loyola faculty members provided, as well as the hands-on assistance.

“They were helpful toward long-term planning,” said Patel, “and the legal side helped us draft documents we eventually ended using for our contract with Hyatt.”

TraknProtect also benefited from Loyola’s marketing expertise.

“Most of our contacts have little time to connect or even sit down for a meeting,” Patel said. “We had to really structure our communication to be short and to the point, to get our message across. Quinlan’s Eve Geroulis really understood that dynamic, and helped us craft a compelling message and target the appropriate people.”

Loyola’s interdisciplinary team of faculty mentors included:

Eve Geroulis Quinlan (Marketing)
Fady Harfoush Quinlan (Information Systems)
Svetlozar Nestorov Quinlan (Information Systems)
Ugur Uygur Quinlan (Management)
Shelley Dunck  School of Law
Mary Hanisch School of Law

Recruiting the next cohort of startups

The mentorship program will resume in fall 2016 with its third cohort of startups.

Assistant Professor Ugur Uygur points to a number of factors that can determine a startup’s success in the mentorship program.

First, the company should be developed to the point to where they have a clear product. Startups should be ready to find and increase their customer base. 

Uygur adds, “Startups that benefited the most from the mentorship program have open minds and are eager to have an ongoing relationship with us. And they have to be looking for something specific, as this helps us determine what support we can provide them with.”

Fady Harfoush, director of the CME Group Foundation Financial Services and Business Analytics Lab, assisted the startups with issues related to technology and data analytics.

“I would definitely look at this as an important relationship between Quinlan and 1871—one that should be nurtured and built upon,” he said. “And with 1871 constantly expanding, it will hopefully lead to new opportunities.”

Loyola’s Office of Corporate Engagement manages the University’s partnership with 1871, including the dedicated LUC @ 1871 Suite onsite, which is open to Loyola students, faculty, and staff.

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Nominate a family business for an Illinois Family Business of the Year Award


The Illinois Family Business of the Year Awards recognize multi-generational family business involvement, contributions to industry and community, and innovative business practices and strategies.

The Family Business Center in Loyola's Quinlan School of Business is seeking nominees for its 23rd annual Illinois Family Business of the Year Awards.

Presented in six categories, the awards recognize companies with a strong commitment to family and family business. The center continues to recognize deserving family businesses, and celebrate the family enterprise as it has for more than two decades.

The award categories are:

  • Small (companies with fewer than 50 employees)
  • Medium (50 to 250)
  • Large (more than 250)
  • Community Service
  • Dean’s Award
  • Century Award

Nomination forms are available at LUC.edu/fbc/nomination or by contacting the Family Business Center at 312.915.6490 or ilfboy@luc.edu. Nominations received by Friday, May 20, 2016, will be considered.

Any family-owned business headquartered in Illinois is eligible to win, with nominations coming from internal and external sources. Professionals in a variety of fields, including family-owned business leaders, will serve as judges to review all applications and determine the winners.

Those recognized will have demonstrated strong commitment to family and family business, positive family/business linkage, multigenerational family business involvement, contributions to industry and community, and innovative business practices and strategies. The center’s inspiration for the awards program comes from its numerous nominees: successful and dedicated family businesses whose generosity, innovation, and community involvement have left powerful and lasting impressions.

Awards Gala

This year’s winners will be honored at an awards gala on Wednesday, November 16, 2016 at The Four Seasons Hotel Chicago. The gala attracts professionals from all over the Chicagoland area, including previous Family Business of the Year winners and finalists and members of the Family Business Center. See past winners.

This year’s gala sponsors include BMO Harris Bank, Grant Thornton, Katten Muchin Rosenman, KPMG, MassMutual Hoopis Financial Group, MB Financial Bank, Perkins Coie, and U.S. Bank.

For more information on the Illinois Family Business of the Year Awards, please visit LUC.edu/fbc.

Blackstone creates scholarship in honor of John Schreiber


The Blackstone gift honors the leadership of alumnus John Schreiber. Quinlan's Schreiber Center, which opened in 2015, was named in honor of John and Kathy Schreiber.

Leaders from Blackstone, one of the world’s leading investment firms, gave more than $1 million to the Quinlan School of Business at Loyola University Chicago to create the Blackstone Scholars at the Quinlan School of Business.

The gift, which was announced in February 2016, honors Loyola alumnus John Schreiber and his many years of leadership and service to Blackstone.

“John Schreiber co-founded our real estate business and has been instrumental in its success,” says Jon Gray, global head of real estate and a member of Blackstone’s Board of Directors. “We could think of no better way to honor John on the occasion of his retirement than establishing the Blackstone Scholars at the Quinlan School of Business.”

Scholarships support the greatest need

The Blackstone Scholars at Quinlan, created with a $1,025,000 gift from John’s friends and colleagues at Blackstone, will establish an endowment at the Quinlan School of Business to support students with the greatest financial need. The scholarships will be awarded annually and will significantly reduce student loan burdens on the scholars.

“The Blackstone Scholars at Quinlan will be an important new program at the Quinlan School of Business and will continue the Loyola legacy of making a world-class education affordable,” says Kevin Stevens, Quinlan’s dean. “On behalf of the Quinlan community, I would like to thank John Schreiber for his lifelong commitment to Loyola and thank Blackstone and the Gray Foundation for their generosity.”

The Quinlan School of Business is located in the new Schreiber Center, an innovative and sustainable 10-story facility located on Loyola’s Water Tower Campus. The Schreiber Center was named in honor of a $10 million gift to Loyola University Chicago by John and Kathy Schreiber.

“It has been a wonderful opportunity to be a part of Blackstone,” says John Schreiber. “I am honored by the extraordinary support of my colleagues, and I am thrilled that the Blackstone name will become synonymous with promising young students at Loyola.”

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Master of Finance recognized as ideal preparation for leading risk management credential


"The Quinlan MSF curriculum maintains strong relevancy in today’s changing financial markets, and students pursuing this degree should find themselves well prepared for the rigors of the FRM certification program," said Dr. Chris Donohue of GARP.

Quinlan's Master of Science in Finance is now one of only 35 graduate finance programs officially designated as ideal preparation for the Financial Risk Manager (FRM) designation, which is the leading professional credential in the fast-growing profession of risk management.

The designation is administered by the Global Association of Risk Professionals (GARP).

Leading credential in risk management

FRMs are employed at nearly every financial services institution, government regulator, and consulting firm around the world. The FRM designation signals to employers that a potential employee has the knowledge and ability to anticipate, respond, and adapt to critical issues in risk management.

Quinlan formed an academic partnership with GARP to help prepare our students to advance in their careers through both rigorous academic instruction and professional certification.

"GARP is pleased to welcome Loyola University Chicago to the GARP Partnership for Risk Education," said Dr. Chris Donohue, managing director and head of research and educational programs for GARP.  "The Masters of Finance program offered by the Quinlan School of Business provides its students with an excellent opportunity to enhance their modeling and analytic skills."

He continues, "Given the strong stewardship of the program’s Financial Advisory Board, the Quinlan MSF curriculum maintains strong relevancy in today’s changing financial markets, and students pursuing this degree should find themselves well prepared for the rigors of the FRM certification program and ready to embark on a career in the global risk management profession."

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Alumnus combines supply chain and social justice


Jonathan Wittig (center) works with a faith-based group to prepare food boxes. (Photo: Natalie Battaglia)

Loyola completely changed how Jonathan Wittig defined professional success.

“Loyola encouraged me to explore my passions and apply my energy to address social issues that exist,” says Wittig (BBA ’06).

After years of service in the nonprofit sector, the Quinlan alumnus recently became the supply chain manager of Top Box Foods, a community-based nonprofit that sells healthy and affordable grocery boxes to food-insecure neighborhoods. Supply chain is a field Wittig naturally gravitated toward, as he has always enjoyed exploring how systems work. 

Here, he talks about how his work at Top Box combines his interest in supply chain with his commitment to social justice.

How did Loyola prepare you for your career?

The Quinlan School of Business helped give me the tools and confidence to go into any business situation and feel great about the work I was doing. But the larger Jesuit mission of service and justice really changed the focus on the work I wanted to be doing in my life. Loyola completely changed my trajectory, and I wouldn’t be working with Top Box Foods if I hadn’t gone to Loyola.

What about social justice appeals to you?

I’ve seen a lot of injustice that exists internationally, as well as in the States. There are systemic issues that lead to a lot of people living with modern disadvantages that I don’t personally live with. So I feel a deep passion to address those in as many ways as I can. This is also a big part of the values at Top Box.

What’s the biggest challenge as a supply chain manager?

My biggest challenge is coordinating so many variables. At Top Box, we rely heavily on the generosity of our individual and corporate partners which push the mission forward. From a logistics perspective, I’m coordinating multiple schedules that are not within my control, which is challenging.

It’s not as simple as us contracting a company to provide a product to be delivered on a certain day and time. A lot of it is asking people to help out and understanding how much I can ask from them while maintaining their enthusiasm. So, trying to balance all these variables that you don’t have complete control over is very challenging and time consuming. This is also a reason why building relationships is so important. The better you understand what they need, or what they have and what you need, the easier it is to encourage people and the whole process forward.

What’s your favorite part about the supply chain industry?

My favorite part about working in this industry is meeting new people. I strive to build deep relationships with each of our vendors with the goal of building a partnership that benefits both parties. I also like to meet them face-to-face and see the operation first hand so I can better understand them and how they operate. Information tends to get lost in translation, especially via email. So meeting vendors is always a positive experience and both parties end up leaving with a better understanding of the relationship.

Any advice you would give to someone looking to enter the supply chain industry?

My advice is to first find out what interests you, and keep working in that area. Always ask your boss if there is more you can do. Learn it, ask questions, and figure it out. That, for me, has been a great way to go farther in this field and learn more about it as well as expand my responsibilities. Having the curiosity and willingness to go above and beyond, without always asking for a raise, will separate you. Higher management will always appreciate that, and, in time, you will be rewarded for your work.

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Quinlan faculty aids in Stritch research


From left to right: Professor Joan Phillips, medical student Marissa Marcotte, Assistant Professor Gopal Gupta, Assistant Professor Alexander Krasnikov, and medical student Dan Grace (Photo: Natalie Battaglia)

A recent study by Quinlan School of Business and the Stritch School of Medicine sought to better understand the impact of price when patients need to choose between different medical procedures related to cancer detection.

In the end, results showed patients desire and are more willing to pay for testing that will give them a higher rate of cancer detection. Further, they value tests that assure them that they do not have cancer.

“Multidisciplinary research like this to determine a patient’s willingness to pay for medical intervention has never been done before in prostate cancer,” said Gopal Gupta, M.D., an assistant professor of urology at Stritch. “It was very interesting, and it gave us an insight into what patients really value when it comes to prostate cancer detection and willingness to pay for new technologies.”

Finding Expertise Across Loyola

Recently, the Department of Urology at Stritch began performing a new biopsy procedure to detect prostate cancer. When a doctor suspects a patient has prostate cancer, the current practice is to perform 12 random needle biopsies of the prostate with ultrasound (US) guidance. As part of Stritch’s new procedure, doctors perform a multi-parametric magnetic resonance imaging (MRI) of the prostate first. 

This imaging is interpreted by expert radiologist and gives highly detailed information on the likelihood of cancer and where the cancer is. Gupta and his team then fuse this information to ultrasound to essentially perform a guided biopsy to accurately pinpoint areas at increased suspicion for prostate cancer shown on the MRI. This technology is called a MRI/US fusion biopsy.

“This gives us a lot of information, and we’re able to put needles in the areas of interest—not just randomly,” said Gupta. “In addition, if this new biopsy technique comes back negative for cancer, the negative predictive value is extremely high.”

Based on changes in healthcare spending by patients, Gupta and his colleagues wanted to better understand how his patients perceived this new technology and what they were willing to pay for it, so they reached out to Quinlan’s marketing faculty. They partnered with Quinlan marketing faculty Joan Phillips, professor, and Alexander Krasnikov, assistant professor, to perform a conjoint analysis.

“Conjoint analysis is used widely in marketing to understand the trade-offs customers make when choosing between products or services. It allows us to quantitatively represent how consumers weigh different combinations of attributes,” said Phillips.

Krasnikov adds that a conjoint analysis takes a more holistic and customer or patient-oriented approach than the traditional cost/benefit analysis done in medical studies. The analysis asks patients, “What’s really important to you?”

Determining Patient Wants and Needs

The Quinlan faculty helped the Stritch team design a conjoint study similar to those used by marketers. Two medical students, Dan Grace and Marissa Marcotte, also joined the team and were were instrumental in obtaining quality patient data, said Phillips.

The researchers first conducted 20 structured interviews to determine important attributes, then followed up with a survey of 149 patients who were presented with a series of choices between the most important attributes.

According to Gupta, the study overall showed that patients can be advocates for their health care in a consumer-driven market. Their willingness to pay more money for a better product could factor in when crafting new health care policy.

“They were willing to pay $2,000 for the MRI based on the fact that it would improve the chance of a true negative biopsy,” he said.

However, patients were not willing to pay more for a biopsy intervention that improved the chance the test would detect high-risk cancer alone, versus any low-risk cancer.

Future Interdisciplinary Efforts

Gupta said this project sets a great example for collaborative research.

“We were real excited about this being a true interdisciplinary approach,” he said. “We know medicine, and we know we have great colleagues who understand marketing and consumer-driven health care. It was eye opening to collaborate with the Quinlan faculty on such an interesting project.”

The results have been accepted for presentation at a conference, and the team is preparing a paper for publication.

Quinlan offers new sustainability management minor


Loyola's new sustainability minor explores how businesses can make a positive social, environmental, and economic impact for all stakeholders.

In fall 2016, Loyola is launching a new sustainability management minor for students who want to learn more about sustainability in business and industry.

The new minor is spearheaded by Professor Nancy Landrum, who holds a joint appointment between the Quinlan School of Business and the Institute of Environmental Sustainability.

Here, Landrum shares her thoughts on Quinlan’s new course offerings and what it means about the future of business practices.

Why should businesses pay attention to sustainability?

As populations and economies grow, demand for resources continues to grow despite limited resources. Businesses are beginning to understand they must conduct business within the confines of limited resources—our planetary boundaries—and shift to renewable resources. 

Consumers are also demanding more responsible, ethical, and sustainable behaviors and products from companies. Businesses need to have a better understanding of the impacts of their activities. Perhaps a business has too much waste. Or perhaps they’re trying to reduce green house gas emissions or conserve resources and operate more efficiently. Or use less toxic inputs into their products. Or perhaps they’re concerned about human rights in their supply chain, in regards to sweat shops. These are all impacts businesses should consider and manage.

Finally, businesses are recognizing new product and market opportunities, increased innovation, and improved financial performance.

How does sustainability fit in with Loyola’s and Quinlan’s mission?

The mission of each is to improve community engagement and improve social impact. Some of the classes in the sustainability management minor allow for community engagement. But overall, the nature of sustainability is about monitoring and improving your impact, and this minor speaks directly to that. 

How marketable is this minor when students enter the workforce?

In higher education, the Chronicle for Higher Education listed "sustainability" as one of the top five emerging majors in 2009 and it continues to rank among the hottest majors that lead to jobs. The interest in sustainability education has continued to grow. Sustainability courses are quite common in business schools and, in fact, are now identified as a "knowledge area" by Association for the Advancement of Sustainability in Higher Education that should be integrated into the curriculum.

What classes are part of the new sustainability management minor?

The minor requires some of the core business classes, such as Marketing 201 and Management 201. And then there are three advanced sustainability classes. There’s a sustainable business management class, an environmental marketing class, and an environmental economics class.

There are also a few new courses we are developing, such as industrial ecology (sustainability and the supply chain); social, economic, and environmental sustainability (radical changes to help us preserve the planet for the future); and sustainability management in the global context (short-term study abroad experience to learn about sustainability in another country).

How will the minor change a student’s perspective?

Students will be exposed to new perspectives on the role of business and how it is possible to use a business to make a positive social, environmental, and economic impact for all stakeholders. Students who complete the courses consistently report that they now have a new way of seeing things and are optimistic about how business can be used to change the world for the better.

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Sustainability Management Minor→

Quinlan team performs well in CFA competition


Team members Trung Nguyen, Robert Englert, Rick Osty, and Bryan Madding (Photo courtesy CFA Society Chicago)

Quinlan’s CFA Institute Research Challenge team made school history after placing second at their regional competition, which is the highest a Quinlan team has ever placed.

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis.

The Quinlan team, composed of undergraduate and graduate finance students, placed ahead of teams from DePaul, University of Illinois at Chicago, University of Illinois Urbana-Champaign, and other area schools.

Members included Master of Science in Finance students Bryan Madding and Trung Nguyen, and undergraduate finance students Robert Englert and Ricky Osty. Associate dean and finance professor Steven Todd led the team.

Preparing for competition

“The competition is a very intensive case study,” said Professor Steven Todd. “And the students spend a huge amount of time researching the equity report they eventually write. I would estimate the winning team puts in more than a thousand man-hours. It’s really demanding.”

This year, the equity report was based on Mead Johnson, a company that produces goods for infants, children, and expectant mothers. Company executives initially presented for all competing teams, but the Quinlan team eventually worked with Charles Fishman of Morningstar, their assigned industry advisor.

“They’re looking at materials from the company, which include all their financial statements,” Todd said about the equity report. “They’re using databases that Quinlan subscribes to, including Compustat, which contains historical data on financial statements. And they’re doing their own analysis by writing Excel spreadsheet code.”

Based on their analysis of the company and related market, the students make a recommendation on the stock, like “buy,” “sell,” or “hold.”

“We really did the bulk of the work during Christmas break,” team member Ricky Osty said. “The report was due in early January, and once it was submitted, it went through a week-long grading process. I believe the top five reports were chosen, and then we went on to a presentation round in mid February.”

After the written reports were graded, the team was in third place. After the presentation round, they moved up to second place—the highest ranking for a Quinlan team.

Real-world experience and expectations

“This gave us great exposure to the field,” Robert Englert said. “We presented at Morningstar’s office and met a lot of very high-level people, which was a great experience. It was a good primer of what I could expect if I enter the industry.”

But, he said, the experience also meant working long hours throughout the winter.

And while it wasn’t an easy task, Trung Nguyen said the competition was “eye-opening” to what the industry actually expects of students. He and his teammates read through dozens of professional equity reports—each 30 or 40 pages long—to emulate their thoroughness and thoughtfulness.

“We wanted to see where the bar was,” Nguyen said. “And it raised our expectations of what we should produce for our own report.”

Future work with the CFA Institute

Professor Abol Jalilvand, Chair of the Finance Department and former Quinlan dean, said a Chartered Financial Analyst (CFA) designation is the most important designation in finance, equivalent to a Certified Public Accountant (CPA) designation in accounting. 

“We felt it would be great if we prepared the students both at our Master of Science in Finance and undergraduate finance majors programs to get their CFA designation,” Jalilvand said. “Although some local Chicago business schools are covering CFA-based material, we’re the only one that’s pursuing a formal certification by the CFA Institute.”

In addition to aligning our content and coverage with the learning objectives of the CFA designation, Quinlan will create additional modules and experiential opportunities for students, to enhance their chances of passing the CFA exams. Professors will also ensure to align their teaching as much as possible to the requirements of the CFA.

“Essentially, we’re enhancing our value proposal,” Jalilvand said. “When you’re coming to Quinlan to earn a Master of Science or a an undergraduate major in Finance, you are also being prepared to sit down for a CFA designation exam.”

Shultz selected for prestigious Australian research fellowship


Professor Shultz sees the fellowship as the first step in research that will grow in size and scope, well beyond Perth and Australia.

Professor Clifford Shultz recently began a research partnership focused on underserved communities around the world and how businesses can enhance the communities' well-being.

His work began with his selection as a BHP Billiton fellow. The program brings international high-profile researchers to Australia to undertake research, collaborate with academics, and participate in public lectures, teaching programs, and other activities.

In February, Shultz spent two and a half weeks at the University of Western Australia Business School, as a BHP Billiton Visiting Professor.

“It’s truly an honor to be associated with the many people with whom I am working on this project and all the ensuing projects made possible by the BHP Billiton fellowship,” says Shultz, the Kellstadt Chair of Marketing at Quinlan.

Here, Shultz talks about his experience in Australia and how the fellowship creates opportunities for him and for the entire Loyola community.

What were your responsibilities as a visiting professor?

I worked with colleagues and doctoral students in the business school, and stakeholders in various communities in Perth and around the state of West Australia. We want to research some of the world’s most pressing problems, from multiple perspectives, and seize new opportunities.

Some of the collaborations, I am happy to report, require key tenets of Jesuit education: immersion, engagement, discernment, reflection, and transformation.

The charge was a bit daunting, given that West Australia is three-and-a-half times larger than Texas and comprises the western third of the country, most of which is truly off the grid, but we saw this visit as the first step in a long and evolving march that will grow in size and scope, well beyond Perth and Australia.

What were your research goals?

The primary foci on this visit included sustainable practices and corporate social responsibility in the excavation industries; initiatives to enhance community quality-of-life through constructive engagement, particularly among underserved and disenfranchised communities such as refugees and indigenous people; and explorations of possible institutional cooperation around shared interests.

We are hopeful that our findings will help to improve business practices, government policy and community well-being — again, throughout Australia, and beyond.

Now that you’re back at home, what is your favorite part of teaching at Quinlan?

My favorite parts are the people — students, colleagues, staff — with whom I get to work while teaching, either at the Water Tower Campus or in the various countries where I lead immersion studies, and the myriad opportunities Quinlan provides for — indeed, encourages — faculty and students to engage in that lead to transformative experiences for everyone involved.

I’ve already got a flood of ideas about the possibilities for students, faculty, and alumni at Quinlan and Loyola University Chicago, “Down Under."

Quinlan ranked as Top 3 part-time MBA in Chicago


The latest U.S. News rankings placed Quinlan's part-time MBA program 43rd in the nation and in Chicago's top 3 programs.

Quinlan's part-time MBA program jumped 9 spots in the latest round of rankings from U.S. News & World Report, placing it in the nation's top 50 and Chicago's top 3.

For 2017, Quinlan comes in at No. 43 out of 296 programs, up from No. 52 the previous year. Meanwhile, Quinlan's supply chain master's program was ranked No. 22 in the nation.

The 2017 U.S. News graduate programs rankings were released on March 16, 2016.

See the full list of rankings for Quinlan →

Quinlan Ramble visits leading San Francisco companies


Google's headquarters in Mountainview, Calif., was one of the 10 stops during the Quinlan Ramble.

Fourteen students spent their spring break visiting leading companies in the San Francisco Bay Area during the third annual Quinlan Ramble.

The Quinlan Ramble enables students to connect with Quinlan alumni and learn about the business community in another part of the United States. Previous trips visited Seattle and the Texas cities of Austin and Dallas.

In the San Francisco Bay Area, the students visited 10 companies in five days:

  • Adobe
  • Clif Bar and Company
  • Just Business
  • Gap Inc.
  • Google
  • Port of Oakland
  • Salesforce
  • Stryker Endoscopy
  • Survey Monkey
  • Uber

"The Quinlan Ramble San Francisco trip has been an extraordinary and life-changing experience," wrote student Azaria Urbiola ('16) in the Quinlan Ramble blog. "It was amazing meeting Loyola alumni that work in the Bay area, as well as other business professionals in all the different companies. The people in these companies were happy to welcome us, willing to share their experiences, and give us advice, and for that, I could not be more grateful."

Quinlan Ramble photos

View photos from the Quinlan Ramble in the gallery below or on Quinlan's Flickr page.

2016 Quinlan Ramble to the San Francisco Bay Area

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Capacity crowd listens to the case for kindness in the workplace


Chicago Tribune columnist Rex Huppke made the case for kindness in the workplace at Quinlan's March 11 Signature Series event.

Kindness in the workplace is more pleasant and has a greater return for businesses' bottom line, said Chicago Tribune columnist Rex Huppke, at a Quinlan Signature Series event on March 11.

Nearly 125 Quinlan students, alumni, and human resource professionals attended the event held in Quinlan's Wintrust Hall.

In addition to Huppke, the event featured the annual Institute of Human Resources and Employment Relations award ceremony.

The 2016 honorees included:

Alumnus/a of the Year Amy Best, MS '91
Senior Vice President & Chief Human
Resources Officer, Exelon
Faculty Member
of the Year
Dennis Nirtaut
Clinical Professor in Human Resources,
Quinlan School of Business
Alumni Mentors John Anderson, Senior Director of Executive Compensation, USG Corp (retired)

Devon Byrne, Director of Global Employee Relations, Gap Inc.

Jennifer Mounce, Program Director, Global Leadership Development, ThoughtWorks

Karen Murphy, Human Resources Director, Make-A-Wish

Gerard Sison, Senior Manager of Employee Relations, Avant

Susan Vece, Partner, 21st Century Leadership Consultants
Graduate Students
of the Year
Seth Middleton, MSHR '17
Kasia Przednowek, MBA-HR '17
Undergraduate Student of the Year Casey Ryan, BBA '17
Undergraduate Scholarship Recipient Erica Sobecki, BBA '16

The event was sponsored by Loyola’s Institute of Human Resources and Employment Relations.

Event photos

View photos from the event in the gallery below or on Quinlan's Flickr page.

The Workplace: A Case for Kindness

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Quinlan advertisement wins gold award


A Quinlan ad declaring the new Schreiber Center "open for business" received a gold award from the largest U.S. educational advertising awards competition.

Loyola University Chicago received a Gold Award in the 31st Annual Educational Advertising Awards for an ad celebrating the opening of Quinlan's new Schreiber Center.

Sponsored by the Higher Education Marketing Report, the Educational Advertising Awards is the largest educational advertising awards competition in the country. This year, more than 2,000 entries were submitted from more than 1,000 colleges, universities, and secondary schools from all 50 states and several foreign countries.

Gold awards were granted to 335 institutions, and silver awards were awarded to 208 institutions. Fifteen institutions were recognized as a “Best of Show” winner.

Award-winning ad

The award-winning ad ran in RedEye Chicago on September 15, 2015, as part of the opening celebrations for the new building.

The ad was designed in-house by Loyola. Click on the image below to view a larger version of the ad.

View larger version.

Supply and Value Chain Center opens second office at Cuneo Mansion


“With our second office in Vernon Hills, we’ll be right in the middle of business in the northern suburbs,” says John Caltagirone, director of Quinlan’s Supply and Value Chain Center.

Quinlan’s Supply and Value Chain Center is opening a second office at the Cuneo Mansion and Gardens in Vernon Hills, with the grand opening celebration scheduled for April. 

“Our new office is great resource for Chicago’s northern suburbs and southern Wisconsin,” says John Caltagirone, director of the Supply and Value Chain Center. “Instead of coming downtown, you can connect with us near where you live and work.”

Opened in 2012, the Supply and Value Chain Center is Chicago's academic hub for supply chain management and logistics. The center provides a common platform where more than 70 member companies, industry leaders, and academics can exchange ideas and advance knowledge.

The office complements the center’s main office at the Schreiber Center on Loyola’s Water Tower Campus in Chicago.

Supply and Value Chain Center at Cuneo

The Supply and Value Chain Center’s Cuneo office will be open every Tuesday. Staff will also be available by appointment throughout the week. Eventually, the office will also be staffed on Thursdays and Fridays to provide more flexibility.

The office joins other Quinlan business programs in Vernon Hills. Students can complete their entire MBA program at Cuneo, and starting later this year, students can earn a graduate certificate in supply chain fundamentals at Cuneo.  Cuneo Mansion and Gardens is also available for corporate events and training.

“It’s a great place to get out of your company and do some strategy work,” says Caltagirone. “The grounds are so beautiful, and the mansion is convenient for many manufacturers, distributors, and other companies in that corridor.”

For more information on the Supply and Value Chain Center, please contact John Caltagirone at jcaltag@luc.edu.

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Quinlan teams impress global data conference attendees


Quinlan's two students teams emerged victorious in the final round of the prestigious international business data competition. (Courtesy of Teradata Partners)

Two teams of Quinlan undergraduates were recognized for their presentation work during the 2015 Teradata Partners World Conference, an international gathering on how companies use data.   

Quinlan went head-to-head with schools from around the world in two contests sponsored by the Teradata University Network: the Business Analytics Competition and the Data Challenge Competition. At the end, Quinlan was the only school to be honored in the final round of both competitions. And both teams were the only undergraduate teams to make it to the final round.

Business Analytics Competition

Overall Winner

 Oklahoma State University

Best Use of Analytics and Visualization Tools

California State University, Fullerton

People’s Choice—Best Presentation

“Visualization as a Tool in Analysis of Employment-Status Data”

Loyola University Chicago

Colleen Ahern, Ashley Pradhan, Cierra Kwan, Rachel Preikschat and Hannah Toohey



TUN Data Challenge

Overall Winner

National Institute of Development Administration (Bangkok)

Most Value to Cultural Data Project

Carnegie Mellon University

People’s Choice—Best Presentation

Loyola University Chicago

April Skillings, John Dwyer, Rachel Babbits, Jordan Goodmanson and Demetri Vlahakis


Quinlan received the “Best Presentation” awards, which were determined by a vote from conference attendees—a “People’s Choice” award. Teams were judged on their presentation and the poster boards displayed in the exhibitor’s hall.

“Our students were complimented in person on their work by the representatives of dozens of corporations at the conference, and they did an amazing job at representing Quinlan and Loyola,” said Professor Nenad Jukić. He and Professor Svetlozar Nestorov worked with the students and traveled with them to Anaheim, California, for the final round of the competition.

Business Analytics Competition

According to its website, the Teradata University Network “gives students a taste of corporate reality through hands-on software experiences and case studies on some of the world’s largest companies.” The competition began in March 2015, and six finalist teams were chosen in July. 

For the Business Analytics competition, teams were tasked with finding a dataset and presenting analytical insights on their topic. Quinlan’s team focused on employment data from the Census Population Survey.

“To begin, we submitted a proposal and a poster,” team member Colleen Ahern said. The group chose “Visualization as a Tool in Analysis of Employment-Status Data” as their topic. “This summer we learned that we were accepted, and that’s when we really started kicking it into high gear.”

Ahern said once the team was back on campus, they began a series of late nights and long weekends at Loyola’s Lake Shore Campus to strategize on how to best visualize the economic data. To accommodate the roughly 19 million data points they were working with, the team decided on a motion chart.

“Since we were dealing with so much dynamic information, the only way we could adequately represent that was with a dynamic visualization,” Ahern said. “The motion chart was our biggest benefit, while also being our biggest challenge. It definitely set us apart from the competition” 

But for Ashley Pradhan, the poster board aspect of the competition was the most exciting part. She said only two team members were allowed to give the main presentation, but the whole team could take part in presenting their poster board to visitors in the exhibitor’s hall.

“A lot of people said it was the most interesting thing they’ve ever seen,” Pradhan said. “One of them said he was going to go back to his company to show his employees what the level of work students are doing these days.”

The presentation even led to direct job offers for several team members—no interview necessary.

Data Challenge

The Data Challenge followed a similar format to the Business Analytics Competition, but all the teams had to work from the same data from the Cultural Data Project, which deals with arts and nonprofits in the U.S.

The Quinlan team examined nonprofit financials for the past 15 years to see how they were affected by the recession.

“I think ours was really good about being clear about our findings,” April Skillings said. “We had a really good presentation, so that helped. But it was also just about people skills at the end of the day. We had a lot of chances to talk to everyone about what our presentation was about, and everyone was really intrigued by it.”

Now in her junior year, Skillings said the competition helped move her toward a future career as a data scientist. With data becoming more accessible now than ever before, she said it’s a rapidly changing and growing industry she hopes to join.

Quinlan students showcase 'FinTech' knowledge


Senior Lan Nguyen and junior Richard Osty represented Quinlan at the showcase. (Photo: Trading Technologies)

Two Quinlan undergraduate students put their "FinTech" talents on display at Trading Technologies' 2016 Algo Showcase.

Students from area business schools (including DePaul, the University of Illinois Urbana-Champaign, and the Illinois Institute of Technology) presented their financial technology savvy in front of an audience of local industry leaders.

The student showcase was sponsored by Trading Technologies, a Chicago-based company that develops financial technology for electronic trading. With the classic trading pits becoming a symbol of the past, this also synergizes with Quinlan’s focus on training students on the trading strategies and equipment of the future.

The Benefits of Participation

Senior Lan Nguyen and junior Richard Osty were the representatives from Quinlan, working with Fady Harfoush, director of the CME Group Foundation Financial Services and Business Analytics Lab. The finance majors worked for two months on their presentation.

“Through this academic partnership, we have access to Trading Technologies software in our business analytics lab,” Harfoush said. “Students are able to use that software to simulate different trading ideas. And the whole purpose of this showcase is to present their ideas in front of the industry leaders. They’ll get the chance to talk with them, and it’s really nice because in the end they’re really talking to future employers.”

Creating a Winning Formula

According to Nguyen, the pair began with a “top-down macro view” to determine the products they would most likely make money on. Once those factors were settled, they put pen to paper and designed their model.

“Two months ago, we had no background with this software,” Osty said. “So the beginning of our process was rocky, but we learned as we went along. Then, our strategy was broken down into four steps—configuration, order management, screening, and the actual trade.”

After some experimentation with soybeans, the pair eventually settled on trading crude oil. Later, they tested their model across different markets. When Nguyen was in his home country of Vietnam, they were able to easily run their model during Asian trading hours.

“Financial markets are complex,” Osty said. “There’s a lot of theories that say ‘This, that, and the other are true.’ And ultimately we picked a strategy that would get in and out of the market as quickly as possible with the highest amount of profitability.”

For Osty, it was his first experience in the realm of quantitative finance and developing a systematic trading strategy. He said working on the Trading Technologies showcase helped to “clear some of the haziness” when it came to high-speed trading.

Further, it wasn’t just a matter of numbers. Success at the showcase depended on presenting their findings to an audience of industry professionals. And the latter half of the showcase gave Nguyen and Osty the chance to network, explain the finer details of their work, and hear specific feedback.

Trading Technologies and Quinlan

“The CampusConnect program is a really important program to us,” said Trading Technologies CEO Rick Lane. “It’s been around for over 10 years, providing training opportunities and experience with the same tools that professional traders use on a day to day basis.”

Trading Technologies CampusConnect Manager Leo Murphy said their relationship with Quinlan is off to a “good start.” He credits Quinlan’s financial services and business analytics lab with giving its students an opportunity to learn the necessary skills and tools of the marketplace. 

Marketing trends at football's big game


Throughout the past five decades, marketers have changed their approach toward football's big game, says associate professor Keith W. Lambrecht.

With the upcoming championship football game, what are the new marketing trends? Associate professor Keith W. Lambrecht, director of the Sport Management Program, says to brace for the rise of more family-friendly commercials, such as “dadvertising,” and increased social media engagement.

What are the challenges in regards to marketing around the championship game?

First, attending a football game is mostly intangible. You can’t touch it. You spend your money on a ticket, but you don’t leave with anything. These days, you don’t even have a physical ticket to frame or save as a keepsake. Second, it’s unpredictable. The game might not be very good. From a football perspective, most of the championship games have not been as exciting as predicted. That’s why most try to place their ads toward the beginning of the game. 

Those are things marketers think about. They spending millions of dollars, and they just want to meet the needs and wants of their customers. But it’s hard. Using a football game is a challenge, as media usage and demographics change.

What are the new trends in 2016?

Five or 10 years ago, commercials were hidden until their big Sunday debut. These days, they’re released weeks early—or at least teased out—on YouTube. When you spend 4.5 million for a 30 second commercial, you want to get the most bang for you buck. 

And marketers are starting to use social media more and more, because it’s less expensive than doing a $4.5 million commercial. So you see a lot of smaller or minor-league teams use social media to help drive ticket sales. Fans want a more intimate relationship with their teams and social media provides that. The Chicago Bears are on Twitter and Facebook as a general service to their fans. But the Chicago Wolves use social media to help boost attendance.

For the upcoming big game, we’re seeing more and more interaction on social media than what we’ve seen in the past.

What should people expect to see this weekend?

I think they’ll be some advertising playing on the “50th Anniversary” theme. CBS, who broadcasted the first game, has been relying on that nostalgia as they’re set to air the 50th game. Why wouldn’t they?

Years ago, when the games first started, no one was paying attention to the commercials. About halfway through, the commercials started to get more exciting. Then the commercials started to become a bit more brash. You started to see sexualized ads, like with GoDaddy. But in the past few years, there’s been a transition to the family-friendly ads that make people feel good. 

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Quinlan students conduct groundbreaking small business survey with Chicagoland Chamber


Chicago treasurer Kurt Summers, Chicagoland Chamber of Commerce president and CEO Theresa E. Mintle, and Loyola interim president John Pelissero, PhD, were on hand for the release of the Chicagoland Small Business Outlook Survey results. (Photo: Natalie Battaglia)

For the second year, the Chicagoland Chamber of Commerce and Quinlan School of Business partnered to learn more about Chicago’s small businesses.

The two groups collaborated on the groundbreaking Chicagoland Small Business Outlook Survey, which collects information on small businesses, what they need to succeed, and their outlook for the future. 

The 2016 survey revealed similar and growing concerns relative to the previous year’s survey:

  • Small businesses are significantly less confident than last year in the economy at the local, state, and national levels
  • More than three in four respondents plan to grow their business
  • 38 percent expect to hire additional workers
  • 52 percent plan to expand within Illinois (up from 45 percent last year)
  • Nearly one half of respondents feel negatively impacted by local taxation
  • The top three areas small businesses need support are marketing, technology, and business planning

Read the full survey results 

Quinlan graduate marketing students were engaged during all stages of the project, from survey development to data collection and interpretation, says assistant marketing professor Alexander Krasnikov, PhD.

“Through this survey, we were able to get very good insights on what’s going on in Chicago, from the perspective of small businesses,” he said. “But we had also had more tangible objectives, like helping the Chamber better target its resources and identify the areas where they can support small businesses.”

The benefits of partnership

The 2016 survey results were announced on January 19 at a Chamber networking event attended by more than 100 entrepreneurs.

At the event, Theresa E. Mintle, president and CEO of the Chicagoland Chamber of Commerce, said the third-party validation by Quinlan helps her organization better serve the needs of small businesses.

“My staff and I had the opportunity to attend one of the classes, where the students’ interpretation of the statistics were presented,” she said. “And it was really eye-opening to see how people who aren’t in this every day interpreted the data. It gave us some ideas on how to move forward.”

The partnership was facilitated by Loyola University Chicago’s Office of Corporate Engagement. Executive Director Janet Deatherage said her office is always looking for educational opportunities for students and faculty.

“The Chamber has been pleased with the way the students have gotten involved, and they appreciate partnering with Quinlan,” Deatherage said. “They know the data gathering is as good as you can get, and they’re happy to provide real-world experience to the students.”

Event photos

View event photos in the gallery below or on Quinlan’s Flickr page.

2016: Small Business Survey Event

Survey in the news

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Instructor Eleanor Sweet honored at 'Influential Women in Business Awards'


Award-winner Eleanor Sweet shares insights on her career and on marketing.

Eleanor Sweet, an adjunct instructor at the Quinlan School of Business, was honored at the Daily Herald Business Ledger’s 18th Annual Influential Women in Business Awards.

According to the Daily Herald, the awards are presented to outstanding suburban women executives based on the business and professional achievements and the challenges they have met in building their careers. Sweet was recognized at a November 2015 ceremony for the 18 award winners.

“We are all real-life role models for young women and girls who often might think that success is measured by the number of friends they may have on Facebook," said keynote speaker Diane Middlebrooks in the Daily Herald article. “If we don’t talk about our values, views of the world, or why we enjoy our work or our causes, or what we accomplished, we rob them of a vision of what is possible in their own lives. They are listening, but we often don’t realize it.”

In her own words

Sweet, CEO of Corporate Success Partners, teaches Principles of Marketing at Quinlan. Below, she shares some insights on marketing and on Quinlan:

What do you see as the greatest challenge and greatest opportunity for business (or marketing) students as they launch their careers today?

As a veteran marketing executive, I would advise all business students to be authentic, and to remember to increase and impact the value for every organization (and end user) they work for. Also to be aware of working on their own "brand" throughout their professional career.

What is the most exciting thing happening in the marketing industry now? 

The age of social media, combined with being authentic and the challenge of getting noticed and being heard above all the "noise.” If you are genuine and naturally authentic, it really puts you at an advantage, business-wise. Also great in-person followup is still really where the deals are closed, not via email. People make their business decision based on how much they trust, know, and like the person they are interacting with.

Your biography describes you as “The Executive Job Search Expert.” What’s the connection between executive search and marketing? 

Today's executive is constantly marketing for their organization internally and externally on an ongoing basis, in addition to "marketing" themselves throughout their professional career.

What is your favorite part of teaching at Loyola’s Quinlan School of Business? 

Loyola has a high level of passionate students that have wonderful core values. They are committed to making a difference while being aware of their legacy to help others. I love that. It is very near to my heart. 

Anything else you’d like to share?

I personally believe that we are all here to make a difference and help others. We always have to be conscience to see beyond ourselves and our world. 

One of the lessons I learned while working on cause marketing with American Cancer Society Relay for Life was to ask. It was such a large campaign that it forced me to ask for help beyond my normal network and contacts. We are better when we ask for help. I had a strong group of supporters, but we still have to stretch and sometimes go through the process of going for an uncomfortable ask to help a good cause. If you engage with the "market's" heart emotionally first, the support and engagement will follow naturally.

Launch your career in 2016


Business Career Services can help you launch your career through comprehensive career development services and events.

Find your next internship or a career at recruiting events hosted by Business Career Services in January, February, and March 2016. For complete details or to register, visit RamblerLink →

Employer Meet and Greets

January 19-22, 2016
Network and learn more about recruitment opportunities at a variety of companies, as they come for an informal meet and greet in the first floor of the Schreiber Center. Companies and their time slots will be listed in RamblerLink.

Winter Accounting Internship Fair

January 28, 2016
Learn more about winter accounting "busy season" internships. Hear from a panel of former interns currently working in accounting, and then interact with employer representatives in a career-fair type setting. Register now in RamblerLink.

Spring Career and Networking Fair

February 10, 2016: Finance & Accounting
February 11, 2016: All Other Business Majors
Meet with more than 70 employers to find your next professional opportunity. Register now in RamblerLink.

Spring On-Campus Recruiting

February-March 2016
Interview with employers looking to fill internship and full-time positions. Companies and their time slots will be listed in RamblerLink.

Success through service


The Holiday Heroes celebrations for hospitalized children include Christmas, Halloween, Fourth of July, and superheroes. (Photo: Heather Eidson)

By Anna Gaynor

Michael Stark fully admits to having his “Jerry Maguire moment.” After earning both his JD from the School of Law and MBA from the Quinlan School of Business in just three years, Stark lasted about four months at an IT consulting firm. But then on a nondescript Wednesday, he decided to quit.

“I’ve never looked back,” the now 28-year-old says. “If you had asked me two years ago what I’d be doing, I don’t even know how I could’ve pictured this.”

Stark found his path in early 2014. Brandt Kucharski, the corporate controller at GrubHub, asked Stark to be the first full-time executive director for Holiday Heroes, a nonprofit that works with hospitals to throw parties and events for its youngest patients. Kucharski approached Stark after learning about his position on the board of directors at Aspire of Illinois, an organization that assists those with developmental disabilities. To Stark, it all seemed serendipitous.

“It was just one of those life tapping you on the shoulder things,” he says. “When I was looking at Holiday Heroes, I was doing my diligence, and I saw in their filings they had actually gotten 501(c)(3) status on my birthday. There was something just in my gut that was saying go do this.”

Bringing joy to hospitalized kids

Since 2009, Holiday Heroes has brought festive parties and crafts to kids with critical and chronic health issues. These themed celebrations, which include Christmas, Halloween, Fourth of July, and—Stark’s personal favorite—superheroes, bring joy and excitement to the often dreary day-to-day activities in a hospital.

“That first year at Holiday Heroes I was the only staff person, so I was doing everything from admin to fundraising to planning these hospital parties to coordinating with the board of directors,” Stark says. “It was just one of those things that was really challenging, but it was incredibly rewarding, too.”

In 2015 alone, Holiday Heroes helped more than 1,000 kids in the Chicago area, but Stark doesn’t want to stop there. He also sits on the Campaign for Quinlan Leadership Committee and is one of the founders of the Chicago Leadership Alliance, which promotes social change and supports local entrepreneurs, businesses, and nonprofits.

“In 10 years, I aspire to be one of Chicago’s leading social entrepreneurs,” Stark says. “My ultimate goal is to prove that one can do well by doing good—to inspire others, bring people together, and instill this ethos into the fabric of our city and its communities.”

Quinlan academic advisor wins 2015 Student Service Award


Award winner Matthew Rombach sometimes meets with as many as 14 undergraduate students in one day, due to his popularity with Quinlan’s ever-expanding student population.

Matthew Rombach, academic advisor for Quinlan undergraduate students, was recognized with the 2015 Student Service Award by the Staff Council of Loyola University Chicago.

This year, Staff Council considered more than 150 staff members for its six Staff Recognition and Excellence Awards. The nominations pointed to countless acts of kindness, generosity of spirit, and stories of notable staff members consistently going above and beyond the call of duty. More on the awards→ 

“I am so pleased that the university has recognized Matt for his initiative, creativity, and continuous improvement to Quinlan undergraduate student services,” said Assistant Dean Susan Ries. “He is truly deserving of this award.”

Rombach joined the undergraduate advising office in December 2011, after serving as a graduate assistant in 2008 and 2009.

Q&A with Matthew Rombach

Here, we asked Rombach to talk about Loyola and his work with students.

What is your favorite thing about working at Loyola?  

More than anything, I enjoy working with students each day—from quick check-ins on academic requirements and degree progress, up to solving bigger problems like helping them get back on track after a difficult semester.

What is your most memorable achievement as a Loyola employee?

Being honored with the Student Service award certainly stands out, especially considering my fellow nominees this year and the amazing work they do.

I also have a big milestone coming up: The first group of incoming first-year students I presented to at their orientation back in 2012 will be graduating this coming May. Though I work with most students only two out of their four years at Loyola, it means a lot to me that I’ll have been there from day one of their Loyola experience through to Commencement.

What does Loyola's mission mean to you?

What stands out most to me is the fact that we are a community. It’s unique that a university of our size in a city like Chicago can feel like home to students, staff, and faculty. And that’s important to me. I always feel a strong sense of community whether I’m in my usual space at the Water Tower Campus or at Lake Shore for a meeting, an event, or orientation. Even prospective students I’ve met with, who have spent maybe just a few hours on campus, are impressed by the atmosphere at Loyola and everyone’s willingness to help.

What motivates you to succeed each and every day?

Student success is my number one concern, and I feel like I succeed when I can provide students with guidance and resources to be successful in their education. My colleagues in Quinlan set a high standard that motivates me every day, and the opening of the Schreiber Center this year has brought a lot of new energy to campus that keeps me excited to see where we’ll go from here.

Tell us how you show your Rambler pride.

As an alum of Loyola’s MEd in Higher Education program and a member of the Quinlan team, I have a lot to be proud of! I’m far more likely to wear Loyola or Quinlan gear than University of Illinois (my undergraduate alma mater), even when I’m visiting Champaign-Urbana. I’ll take every opportunity I can to brag about Loyola, whether it’s to prospective students or higher education professionals at other schools.

Tell us something most people at Loyola would be surprised to know about you.

I have a pretty eclectic taste in music—one of the hardest decisions I’ve had to make was whether to see a Japanese heavy metal band or Toad the Wet Sprocket, who were playing on the same night. (I went with the metal band.) This past January I traveled to Colorado with my brother to see one of my favorite bands play a show in the supposedly haunted Stanley Hotel, the inspiration for The Shining.

Entrepreneurial marketing class partners with new restaurant


In November, restaurant startup BBox hosted a pop-up location in Chicago's Merchandise Mart.

By Travis Cornejo  |  Student reporter

Quinlan’s entrepreneurial marketing class recently tackled an intriguing real-world project: how to market a startup company seeking to revolutionize breakfast.

In fall 2015, the class partnered with BBox, an innovative new “restaurant” seeking to break into the Chicago market, and by the end of the term, delivered two very different marketing plans.

Finding an Innovative Partner

Assistant Professor Ugur Uygur found BBox through Loyola University Chicago’s partnership with 1871, the Chicago hub for entrepreneurial startups.

“What I was looking for was somebody who has an idea—a service or product—and didn’t understand their customer fully,” Uygur said. “And the class chose to work with Greg Becker and his company BBox.”

BBox plans to sell breakfast sandwiches prepared by a machine. With almost zero human involvement, fresh ingredients will automatically be prepared when a customer orders a sandwich.  

“The invention is the most striking innovation,” Uygur said. “But Becker also designed an app that will track everyone’s location and prioritize orders according to how close they are. It ensures maximum freshness and ease of delivery. When you arrive, you tap your phone to the machine, a box will open, and your sandwich will be ready.”

The entrepreneurial marketing class was divided into two groups. Each was tasked with creating a full marketing plan—identifying who the customer is, how to communicate with them, and what the message is.

“We didn’t divide work,” he said. “They were competing in that way. However, it’s a very creative class. I spent a lot of time on how to come up with new ideas and how to create an authentic message for the customer.”

He said both teams went through the experience and ended up creating “really different” marketing agendas for the customer. Even though both teams were working on the same company, given the loose guidelines, they ended up in different directions.

Rethinking Traditional Restaurant Marketing

According to MBA student Lavina Phulwani, the uniqueness of BBox created some additional hurdles when developing a marketing plan.

“There were a couple of objectives that we had,” she said. “One was erasing the negative stigma of vending machines. The other was how to engage customers around a vending machine, because it’s not like a restaurant where you can have a conversation with them.”

Because many potential customers would think, “How can I trust a machine to make my sandwich?” her group sought to humanize the machine. And she said they received strategic guidance from Uygur.

“One of the key elements to success has been his involvement,” Lavina said. “He has been mentoring us from the beginning. He’s always encouraged us to be more creative and to think about problems from different perspectives. He was crucial to our ability to apply classroom concepts to this real-world marketing plan.”

Implementing The Results

Overall, Becker said the experience was “very enjoyable” as both teams were motivated and provided fresh approaches to the problems BBox was trying to solve.

“One of the teams identified two customer personas—Techie Tracey and Healthy Harry,” Becker said. “Healthy Harry is very into fitness and gyms. So based on the marketing plan’s suggestion, we’re looking into partnerships with gyms to promote a healthy lifestyle. Getting free coffee for completing a certain number of pushups, and other similar incentives.”

In the end, Becker had two 20-page marketing plans. And throughout the process, both teams were responsive to his feedback, easily dealing with the challenges and constraints unique to the startup environment, said Becker.

“I just think these types of collaborations are awesome,” he added. “The students get real-world business exposure, and we’re provided with marketing ideas. It’s a win-win situation. This is an awesome program that Dr. Uygur has created—one that I would recommend to other startups.”

Quinlan undergraduates land Federal Reserve internships, major grant


The students trained in Kansas City before beginning their internship. (Photo: Federal Reserve Bank of Kansas City)

By Travis Cornejo | Student reporter

When the Federal Reserve Bank of Kansas City needed help collecting data for a new data mining software for economic researchers, it turned to five undergraduate Quinlan students. 

The work was so successful, Quinlan was awarded a two-year, $207,000 grant by the Arthur P. Sloan Foundation to continue the research efforts on an even larger scale. Assistant Professor Svetlozar Nestorov will serve as the principal investigator.

The team of students— Taytum Grove, Daniel Krapu, John Dwyer, Kelly Bryant, and Sabrina Minhas—was recommended for the summer project by Professor Nenad Jukić. They represented a cross section of students, from freshmen to juniors, with majors including economics, finance, and information systems.

The Technical Aspect

Earlier in 2015, the bank’s Center for the Advancement of Data and Research in Economics (CADRE) began working on timesaving software targeted to economic researchers. When fully developed, the software will create a search function with the ability to analyze economic papers and identify which datasets the research is based on.

Currently, when a researcher is interested in using any particular dataset, there’s no automated method of finding related academic publications. The new software will cut down on the time it takes researchers to search through economic papers.

“Soon, you’ll make one little query and then, ‘Boom!’ You’ve got it. And that’s a big deal for researchers,” said Jukić.

CADRE Associate Director Sandra Cannon, who previously worked with Jukić, reached out to him when she realized the project needed additional help. Her team needed interns to read through and categorize hundreds of economics papers. Their work would form the basis of the search algorithm CADRE was developing. 

“The students read through employment-related academic papers and found out ‘How did it use Current Population Survey (CPS) data?’ and recorded their findings,” Jukić said. “And what they did manually, will later be done automatically. There will be a text mining-based software that can eventually perform those searches.”

Results Exceed Expectations

The students moved quickly through the papers, exceeding the Federal Reserve Bank’s expectations.

“We had originally hoped to be able to get through about 350 papers but they succeeded in creating 586 entries for 423 unique papers which gives us sufficient coverage and enough overlap to get a good start on the research work,” Cannon wrote in an email.

She said the project broke new ground in terms of subject matter (categorizing statistical methodologies), approach (applying metadata tags to research articles) and employment practices (remote internships)—making it a “great success.”

“The work done this summer will greatly advance the work done here at the Federal Reserve Bank of Kansas City’s CADRE to support data-related research,” Cannon said.

And the students considered it a great success as well.

“I gained an in-depth understanding of how data, methodologies, and clear organization contribute to an excellent paper,” said Sabrina Minhas, an economics major. “I am no longer intimidated by lengthy papers or econometric techniques. Now they are a source of motivation and passion for me.”

And according to Kelly Bryant, an economics major, it was a fantastic opportunity to read articles relevant to her interests and work with people passionate about their fields of study.

A Remote Internship

While many Quinlan students spent their summers donning their best business casual for the daily 9-to-5 grind, that wasn’t quite the case for these students. After an “amazing” training session in Kansas City, John Dwyer said the group spent the next six weeks working from home.

“Once we got back, it was just a matter of getting into a rhythm,” Taytum Grove said. “And I started off slow, but then all of a sudden I was doing 10 papers a day. And if I did have questions, the [Federal Reserve] provided plenty of resources.”

Daniel Krapu, an accounting, and information system major, said that knowing the work he did would be used to create an algorithm that would later be applied to 19,000 documents, kept him motivated while working at home.

And it was exactly that sort of thinking that Jukić was banking on.

“I hand picked these five because they were quick studies and had good business fundamentals,” he said. “But I knew they also had the punctuality and attention where they could handle this.”

Grove said it helped that the five were in communication—it kept up a competitive spirit.

“If you’re slacking off, and then you hear that everyone else is way ahead of you, you’re not going to slack off,” said Grove. “Especially because I think we were all the kinds of students who want to be successful. We want to succeed and do a good job.”

New graduate certificates to advance your career


The new graduate certificates from Quinlan provide an intense immersion in key business topics — and can all be completed in five courses.

Loyola’s Quinlan School of Business is launching three new graduate-level certificates to better meet the needs of business leaders.

The three new certificates join our existing Business Ethics certificate program.

About the Graduate Certificates

The new certificate programs can help take your career to the next level, as you will refresh and expand your knowledge and experience under the guidance of leading academics and practitioners. All three programs focus on the challenges you face today and the opportunities of tomorrow. 

The new certificates are designed for working professionals. They will be taught on Loyola's Water Tower Campus and online — and all can be completed in five courses. Each certificate can serve as an introduction to a degree program, a stand-alone credential, or an addition to your MBA or other degrees.

Take the Next Step

Ready to learn more? Contact our Enrollment Advisor Lauren Griffin at lgriffin3@luc.edu or 312.915.58908, or request more information below.

Request Information

Quinlan alumnus seeks restaurant success


Kaushik Guha's entrepreneurial spirit led him to open his own restaurant—Hakka Bakka. (Photo: Natalie Battaglia)

By Travis Cornejo  |  Student reporter

“If you want something done right, you have to do it yourself.”

It was that line of thinking that led Quinlan alumnus Kaushik Guha (MBA '07) to open Hakka Bakka, a restaurant offering his take on fresh Indian street food.

While working at EY (formerly Ernst & Young), he always avoided the nearby Indian restaurants. The available options were always “too heavy” and not something he could eat on the go. He wanted an option similar to Chipotle or Panda Express, but for Indian food.

And that’s when his entrepreneurial spirit kicked into high gear. He decided to leave his job as an economic consultant, earn a certificate in culinary arts, and enter the restaurant business.

What inspired you to open a restaurant after getting your MBA? 

Throughout my career as an economic consultant, a lot of my clients were food clients. And it seemed like when dealing with multimillion-dollar projects, restaurants could do no wrong. So I thought, “Why do small restaurants not do well? Why do 95 percent of them fail?”

So in addition to wanting a better Indian food option, I was inspired by professional curiosity about the restaurant business. I kept doing more research and kept getting more intrigued and excited about opening my own restaurant. Soon everything was pointing in the right direction. I saved enough money and raised enough capital and then I took the plunge. I quit my job, earned a Certificate in Culinary Arts from Kendall College and concentrated on my restaurant full time.

And why do 95 percent of restaurants fail? I still don’t have an answer. We’re only two months old. I’ll let you know in five years.

How did Loyola prepare you for your career in the food industry?

In my MBA program, there was a focus on entrepreneurship. And I remember Professor Michael Welch would get speakers—people who were extremely successful in their industries—to talk about the importance of entrepreneurialism and small business. That really influenced me. It really instilled the whole idea of being an entrepreneur.

More directly, Quinlan helped me get my first job at a firm that normally only hires Ivy League graduates, and I was able to save up enough money to start my restaurant. Without my MBA, I wouldn’t have landed my first job, so if it weren’t for Loyola, I wouldn’t be here. Moreover my program at Loyola gave me enough credits to become a CPA. I run the books. I don’t need an accountant to do that for me. I don’t need to hire someone. That’s cost savings right off the bat.

Kaushik Guha

What’s your favorite part of owning your own business?

My favorite part is every time I worked for someone else, I thought things were overly bureaucratic. There were so many layers to decision making. Now my wife and I call most of the shots. We’re more nimble in decision-making, and it’s a lot less bureaucratic. Also, I can see an immediate impact of my decisions whether they are good or bad. Working for large corporations, that’s hard to see.

What’s the biggest challenge in the small business industry?

Capital is a challenge. For small businesses, money is always tight. Maybe I’m just too numbers oriented, with my background, but that’s the biggest stress factor. How many people are coming in and out? Day to day? Hour to hour?

Another challenge of having your own business is working 18 hours a day. It’s a change in lifestyle when you are a business owner. There are no vacations and evenings off. Even when you’re not at the restaurant, you are doing things—entering invoices, thinking about marketing strategies, or paying credit cards. Time is a big issue. But as the business grows, it will even out.

Any advice you would give to someone looking to get into the same field?

I think my biggest advice is you really have to jump into it—there’s never really a right time, so you have to jump in and do it.

Obviously have a plan, but know things will never pan out the way you expect. I think I had a wonderful business plan, but there were still issues. So it’s important to always have contingency plans and contingency funds.

APICS team makes first appearance at international competition


From left to right: Taylor D’Amore, Hussam Bachour, Justin Stuck, Steve Taylor, and Jing Zhao.

By Travis Cornejo  |  Student reporter

A group of Loyola students showcased Quinlan on an international stage as they advanced to the final round of the 2015 APICS International Student Case Competition in Las Vegas.

APICS, or the American Production and Inventory Control Society, sponsors the annual student case competition to test classroom knowledge against real-world inventory management situations. Adding to the realism, representatives from the company featured in the case competition were on hand to serve as judges.

To advance to the international round, colleges and universities first competed at the regional level. And in a school first, Quinlan won the Great Lakes regional competition, placing first out of 25 teams. Competing teams were from Indiana University, University of Illinois Urbana-Champaign, and the University of Michigan-Dearborn, among others.

Team members included Hussam Bachour, Taylor Damore, Samantha Duft, Sarah Mucerino, Anna Slover, Justin Stuck, Stephen Taylor,
and Jing Zhao. Associate Professor Maciek Nowak served as the team adviser.

Winning the regional

“The challenge is that you can’t really prepare for this kind of competition, since you’re given the case on the day of the regional competition,” Bachour said. “They gave it to us at 7 p.m., and by 9 a.m. the next day, we had to submit everything. We had to work overnight.”

Bachour continued, “I also believe we performed well because Quinlan has a pretty strong program in inventory management. We were so lucky to have Professor Michael Hewitt’s class right before the competition. With some creative thinking, we were able to apply what we learned in class to the case study.”

He also credited Nowak with being a great advisor and mentor to the team.

“His support and guidance was invaluable, and all of us are so grateful to him for giving us this opportunity and helping us represent Loyola at such great events,” Bachour said.

But Nowak said it also helped that the students were “really engaged.” Even if they couldn’t prepare for the case competition in the traditional sense, he said they were interested in what they were doing and ready to go when it came time to compete. While other teams took time for nice dinners, the Quinlan students buckled down and worked through the night.

Competing at the international level

“After winning regionals, five of our students were allowed to take part in the international competition,” Nowak said. “So our local chapter paid to send them to Las Vegas, where they put one heck of a showing.”

At the international level, the competition changed formats, tasking the team with using a new simulation software—Fresh Connection. Bachour said the software allows one to see the dynamics between every part of supply chain and how components interact with each other.

“We did a couple of practice rounds, and even if we didn’t feel too knowledgeable about the software, it was still great,” Bachour said. “We went to Las Vegas to get more experience. We met