Loyola University Chicago

Quinlan School of Business


Meet student Kyla Hawkins


Kyla Hawkins will be the first in her family to graduate with a bachelor's degree thanks to the support of a Loyola scholarship.

Marketing major Kyla Hawkins will soon be the first in her family to earn a bachelor's degree, but her college experience almost came to abrupt end when her family's business closed during her freshman year. With the help of scholarship support, she was able to continue her education and has big dreams for her future.

Below, Kyla describes what the scholarship support meant for her and how she is using her second-chance at a Loyola education. 

Kyla Hawkins on her Loyola journey

"Three years ago, I arrived on the Lake Shore Campus, excited by all the opportunities Loyola offers and ready to fulfill my dream to be the first in my family to earn a bachelor’s degree.

"But only a few weeks into my freshman year, I thought my dream was coming to an end. My family’s business closed unexpectedly, and my family and I scrambled to pay for tuition. Then Loyola reached out to me and offered me the scholarship support I needed to continue my studies.

"I’ve turned this second chance into a busy three years. In addition to my studies, I have two jobs. For the Family Business Center at Loyola, I serve as the events and marketing intern and work directly with its member businesses. I also work nights and weekends at Nordstrom Rack. Over the summer, the Family Business Center connected me with a marketing internship for Magid Glove & Safety, a family-owned manufacturer and distributor of personal protective equipment, and I worked at Enterprise Rent-A-Car as a customer service representative. These professional experiences help support my education and have given me great hands-on marketing skills.

"On campus, I am an active member of three student organizations: Women in Business, Alpha Kappa Alpha Sorority, and Delta Sigma Pi, a professional business fraternity. I am also working with Loyola’s Wellness Center to develop a student organization dedicated to creating safe spaces for students of all races and ethnicities.

"I’m still figuring out what I want to do after graduation with my marketing degree. I’m considering building a business around the outerwear fashion line I recently started. I’m also very interested in real estate and plan to earn my real estate license before I graduate. Once I find my career path, I want to return to school for a master’s degree.

"Through all of this, the support of donors has been such a blessing for me and my family. As soon as I can, I plan to return the favor and give to Loyola’s scholarship fund, as I understand the huge difference these funds can make for a student.

"If you are able to make a gift now, visit LUC.edu/supportQuinlan. I speak for myself and for all Loyola scholarship recipients when I say, thank you!"

Alumna speaks at Obama Summit about financial literacy for women


Alumna Emily Nordquist speaking at the 2018 Obama Summit.

Emily Nordquist (BBA ’16, MBA ’18) spoke on the necessity of financial literacy among Chicago’s women at the 2018 Obama Summit organized by the Obama Foundation.

Nordquist and MBA students Jenā Thomas and Katie Levin are members of the foundation’s Community Leadership Corps. For their corps project, they are working to empower Chicago’s young women by first identifying the barriers they face when making financial decisions.

Watch the Obama Summit talk

Obama Presidential Museum Director Louise Bernard introduces Nordquist, calling her a “leader on the rise.” Watch the talk below or on the Obama Foundation’s YouTube channel.

Read the transcript of Nordquist’s remarks:

“I sit before a room of 20 young women, I begin to listen as they tell me their experiences with money. I look over at my friend Jenā and she is running around taking photos and I feel so lucky to have her on my team.

“Jenā is one of those women who doesn’t sleep. She works full time and she’s pursuing two master’s degrees at night.

“When I ask her how she possibly finds the time to also support our project in creating spaces for young women to speak candidly about money, she tells me about her 18-year-old niece, Dasia.

“Jenā was able to go to college and therefore had access to real financial literacy resources. This is what has allowed her to find the ability to live independently and to explore new careers that are in alignment with her own values.

“She tells me that it is her personal mission to see to it that her 18-year-old niece will find that same type of freedom.

“As I listen to her story, I can appreciate how both of our first understandings of money are deeply rooted in both family and identity.

“For me, I think about how important my dad and my sister were to me when we lost our family business, had to sell our home, and help each other through a remarkably tough time. This feeling of connectedness with Jenā is what allows us to talk about finance and allow other young women to do the same in a way that goes far beyond just the numbers.

“Because we have welcomed vulnerability into the conversation of money, we have been able to meet with 15 community leaders in Chicago and hear from over 30 young women. We’ve listened to their stories, their fears, their questions, and we’ve sat together and brainstormed ways in which we can help each other create tools and resources to help young people better understand and talk about money.

“Unfortunately, this kind of work is hard to find. As young women, we’ve been told that we don’t understand how to manage or invest money and we don't deserve to make as much of it and we don’t understand enough about it, so we should just step out of the conversation.

“When we collectively let go of the fear and shame around money, we step into our true power. And when we step into our true power, the world shifts.

“Thank you.”

Q Talks: Live! offered insights, ideas from three Quinlan professors


Associate Dean Pamela McCoy introduced the three Quinlan professors who spoke at the inaugural Q Talks: Live! event.

In November, Quinlan alumni and friends gathered for the inaugural Q Talks: Live! event featuring three Quinlan faculty offering unique insights and ideas based on their research. 

Featured presentations

Associate Dean Pamela McCoy moderated the event, and Dean Kevin Stevens welcomed attendees.

Q Talks is part of the Dean's Alumni Series. The second Q Talks: Live! is scheduled for April 24, 2019.

Event photos

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

Q Talks, Nov. 2018

The opioid crisis explained


Professor Tim Classen at the inaugural Q Talks: Live! event.

Professor Tim Classen unpacked the opioid crisis at the inaugural Q Talks: Live! event in November.

Classen was one of three featured speakers at Q Talks, which also featured Professor Jenna Drenten on how visual social media is changing communication and Professor Al Gini on the importance of humor. Q Talks is part of the Dean’s Alumni Series.

Key takeaways

What are opioids?

Vicodin, Percocet, Norco, and OxyContin are examples of prescription opioid painkillers. Vicodin was released 40 years ago, and OxyContin came to market in 1996. Heroin, morphine, and fentanyl are also examples of opioids.

Origins of the opioid crisis

In 2001, the Joint Commission on Accreditation of Healthcare Organizations identified pain as the fifth vital sign along with blood pressure, heart rate, respiratory rate, and temperature.

The commission argued that “we need to treat pain in a better way to reduce patients’ pain and to deal with problems stemming from patients’ pain,” said Classen. But “that really was I think in some ways a jumping-off point for the use of painkillers.”

According to Classen, between 1998 and 2010, the number of prescriptions for opioid painkillers doubled. In 2015, doctors wrote 250 million prescriptions for opioid painkillers – or one for every adult in the U.S.

Scope of the opioid crisis

  • Number of fatal overdoses: Between 1999 and 2016, approximately 150,000 people suffered fatal overdoses from prescription opioids, with 40,000 deaths from all opioids in 2016 alone.
  • Fatal overdoses by gender/race: White males from 18 to 40 years old and white females from 18 to 40 years old have seen the greatest increase of overdoses since 1999 compared to older white males/females and non-white males/females.
  • Heroin substitution: In 2010, OxyContin was reformulated so make it harder to crush and insufflate. Many people with opioid additions transitioned to heroin, and heroin overdoses subsequently increased rapidly in 2011.
  • Fentanyl effect: In recent years, fentanyl has become widely available and inexpensive relative to other opioids. This has led to higher rates of overdose overall. In 2016, 10% of all deaths among young white males and young white women were fentanyl overdoses.
  • Geography: The opioid crisis affects the entire U.S., but it is particularly acute in West Virginia, Ohio, Utah, New Hampshire, Maine, and Massachusetts. Illinois has a high heroin overdose rate, while the northeast has suffered the most from the fentanyl epidemic.

Policy responses

Several policies have been introduced to respond to the crisis, including:

  • Prescription drug monitoring programs: All states have created prescription databases to make it harder for patients to fill more than one opioid prescription a month, said Classen. This has helped reduce prescription opioid abuse, but some people have moved on to using heroin and other opioids such as non-prescription fentanyl.
  • Medication-assisted treatment: Medication-assisted treatment is the use of medication such as buprenorphine or methadone to reduce opioid cravings and withdrawal. “This has been identified as an essential remedy for those with opioid problems,” said Classen.

    “We have about 2 million opioid addicts in this country, and about 10 million people have misused opioids,” he continued. “The number of people suffering from these disorders necessitates some sort of remedy.”

    Naloxone is now available to reverse opioid overdose and is carried by some police forces.

Ethical considerations

Classen closed his presentation with a series of questions. “At Quinlan, we do focus on ethical business behavior, and here are some things to ponder,” he said.

  • How do we treat addiction and the enormous number of opioid addicts?
  • How do we respond to the role of doctors’ prescribing behavior of opioids that exacerbated this crisis?
  • How do we best treat people with chronic pain?
  • What can we learn to avoid massive unintended consequences of healthcare innovations?

Learn more

To learn more about the opioid crisis, Classen recommends these resources:

Event photos

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

Q Talks, Nov. 2018

Visual social media is changing how we communicate, says Drenten


Professor Jenna Drenten explaining the differences between these four emojis during the inaugural Q Talks: Live! event.

Emoji, animations, and other visual social media are creating a new language, said Professor Jenna Drenten at the inaugural Q Talks: Live! event in November.

Drenten was one of three featured speakers at the Q Talks event, which also featured Professor Tim Classen unpacking the opioid crisis and Professor Al Gini on the importance of humor. Q Talks is part of the Dean’s Alumni Series.

Key takeaways

Drenten offered three ways that visual social media is changing the way we communicate.

1. Visual social media is a form of language.

We use visual social media as a form of language, “and with any form of language, there is a learning curve, but unfortunately with social media, the meanings aren’t always clear,” said Drenten.

As an example, she recounted how her father used a laughing emoji with tears instead of the crying emoji he meant to use after the Loyola men’s basketball team’s Final Four loss. People also have to navigate emojis that have taken on sexualized meanings, such as the peach emoji.

Drenten added that this language of visual social media “helps us express our emotions beyond words,” adding humor and other complex emotions to our communication.

2. Visual social media provides a form of evidence.

“We are living in an era of pics or it didn’t happen,” said Drenten. “We provide this evidence in ways that express who we are and communicate something about our experiences,” from proving that you voted to showing the real experiences of people fighting cancer.

Unfortunately, “we can’t always trust what we see online,” said Drenten. “The ‘evidence’ is easily manipulated,” including through photo manipulation or simple camera angles.

3. Visual social media is a form of self-expression.

“Visual social media says something about who we are and what we find important,” said Drenten. On her own Instagram account, Drenten posts about friends, family, students, and her travel adventures.

Visual social media “allows us to say something about our identities and who we are,” she added. “This can be as easy as changing the skin tone on an emoji to match your own or even challenging gender norms in our culture such as the case of male beauty bloggers.”

Visual social media such as Pinterest can even help navigate new experiences and changing identities. In one of Drenten’s research studies, one participant turned to Pinterest to help her transition her identity from girlfriend to fiancée and then to wife.

Drenten closed her presentation with this thought: “The great thing about [visual social media] is that it’s constantly changing, and we as society get to be the ones who determine what’s next.”

Learn more

To learn more about what Drenten discussed, read her research:

Drenten is also quoted in the "Motherboard" article The iPhone Has Objectified Our Faces →

Event photos

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

Q Talks, Nov. 2018

Humor is important for navigating through life, says Gini


Professor Al Gini at the inaugural Q Talks: Live! event.

“Laughter is an expression of our essential humanity,” said Al Gini, professor of business ethics. “It is both a sword and a shield to defend ourselves against life.”

Gini shared his thoughts on humor at the inaugural Q Talks: Live! event, which is part of the Dean’s Alumni Series. The event also featured Professor Tim Classen unpacking the opioid crisis and Professor Jenna Drenten on how visual social media is changing communication.

Key takeaways

During his presentation, Gini offered three main takeaways:

1. Humor can be a form of wisdom.

Gini cited theologian Reinhold Niebuhr: “Meeting the disappointments, irrationalities, frustrations, and contingencies of life with laughter may in fact be a higher form of wisdom than we ever thought.”

Gini added that both seriousness and silliness are critical parts of a meaningful life.

2. Humor can help negotiate reality

Humor helps people cope with life, said Gini. “When we laugh at one of life’s mysteries, cruelties, or horrors, we diminish, if only temporarily, its terror in our imagination.”

Gini added that “joke telling is an attempt to keep at a distance our fear of the unknown, the unanswerable, and the unacceptable.” He later says that humor is not a cure for life, but it can be a helpful anesthesia.

3. Humor gives us a chance to pause and gain perspective

Jokes about marriage, money, death, religion, and other weighty topics may not provide definitive answers, but they can “just perhaps offer some perspective, some illumination in regard to these fundamentally insolvable problems we face every day.”

As an example, Gini read a letter from a student to her parents detailing injuries, an engagement to a convict in need of teeth, and pregnancy. In the letter’s postscript, the student admits that she fabricated the entire story. In reality, she is failing one of her courses, and wanted her parents to put this shortcoming into “proper perspective.”

Final thoughts

Gini finished his presentation by offering three pieces of advice:

  • Enjoy a joke whenever you can.
  • Never pass up an opportunity to laugh.
  • Remember, laughter is as important as love.

Learn more

For more on humor, Gini recommends these books:

Event photos

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

Q Talks, Nov. 2018

Faculty and students team up with Northern Illinois Food Bank


In 2017, Northern Illinois Food Bank distributed more than 65.5 million meals in 13 counties in Northwest Illinois.

By Mikal Muhammad | Student Reporter

Northern Illinois Food Bank recently partnered with Quinlan to serve additional food-insecure families by moving beyond traditional food delivery methods.

The project was conducted through Quinlan’s Urban Social Benefit Incubator and managed by Harry Haney, associate director of Quinlan’s Supply and Value Chain Center.

“It’s important to us to serve nonprofits and social enterprises to help make a difference in the community,” says Haney. “Plus, our students are learning the real-world side of business and gaining additional educational exposure.”

Bringing change to the Food Bank

Food-insecure families face many barriers to using traditional food pantries, including finding transportation to pantries during the hours of operation and lingering stigmas around using food pantries.

Northern Illinois Food Bank worked with Quinlan students, faculty, and staff on a new system for serving its families. The team recommended an innovative solution: an online ordering system which allows for pick-up at strategic locations in the community, such as a grocery store.

An additional benefit of online ordering is that families would be more likely to receive the food they need. The Food Bank currently uses a first-come, first-served process that does not guarantee enough food for everyone who comes to the food bank.

The team’s recommendations may soon become a reality. The Food Bank is working toward testing the concept in some of the communities it serves.

A perfect partnership

The Food Bank’s CEO, Julie Yurko, expressed her appreciation for the Loyola team’s insights and their understanding of the food bank’s work.

“The team brought great understanding and compassion to the project, and were really committed to the mission of nonprofit work,” said Yurko.

Learn More

Rogers Park and Edgewater businesses becoming more sustainable with Loyola’s help


Students from the ENVS 363 class at the cash mob in support of Edge of Sweetness Bakery.

By Mikal Muhammad | Student Reporter

This fall, Quinlan and Environmental Sustainability students partnered with two local businesses to identify ways to improve their sustainability – and then helped them raise funds for these efforts. 

The project was a central part of Professor Nancy Landrum’s Sustainable Business Management class. Students were split into two teams, with one group working with Smack Dab Chicago and the other supporting Edge of Sweetness Bakery.

From green audits to cash mobs

For the businesses, the teams performed waste, water, and simple energy audits and completed greenhouse gas inventories. These were complimented by professional energy audits from ComEd.

The teams then organized a “cash mob” – which is an event to bring customers to the business. The businesses agreed to use a portion of the extra proceeds to fund some of the improvements recommended by the ComEd and student audits.

The cash mob results were remarkable: Edge of Sweetness saw a 216% increase in sales during the cash mob, and Smack Dab Chicago saw a 51% increase.

A community partnership

Axel Erkenswick, co-founder of Smack Dab Chicago, enjoyed the partnership.

“I was interested to see how in-depth the students went into their audits, including going through our waste,” he says. “Energy conservation is important to me, because it shows customers that we are more than a McDonald’s. We are community driven and put our efforts into helping the environment.”

Kate Merrill (BSN ’96), co-owner of Edge of Sweetness and a Loyola alumna, was impressed by the students.

“I was delighted and surprised by how thorough they were during the initial evaluation,” she says. “They were also very proactive about what they wanted to do with the projects, which was very nice to see.”

For their part, the students were grateful for the opportunity to gain hands-on experience, while also supporting local businesses.

“Loyola has taught me about the importance of supporting our surrounding community. This project was a great opportunity to give back and be directly involved in making positive impact on a local business,” says student Ansley Ostiguy.

Student Andrea Wong says, “In the end, it turned out very well, because the owners trusted us and had good intentions. When you have good intentions, it leads to great results.”

This project was supported by Loyola’s Center for Experiential Learning's Communities in Solidarity program.

Learn more

Drenten receives distinguished alum award


Professor Jenna Drenten (second from the left) was honored during Mass Communication Week at Winthrop University.

Jenna Drenten, PhD, was honored by her alma mater, Winthrop University’s Department of Mass Communication, as its 2018 Distinguished Alum. She returned to the South Carolina school to receive the honor as part of the department’s Mass Communication Week in October.

“It was an honor to be able and go back to be recognized by my professors who helped me get to where I am today,” said Drenten. She earned her bachelor’s degree in Integrated Marketing Communications from Winthrop.

Distinguished Alumna

Drenten is the department’s first-ever alumni award recipient who did not pursue a business career after the program. After earning her bachelor’s degree, Drenten went into her PhD program, and focused on teaching and research.

During the Mass Communication Week, she gave a presentation of her research titled, “Emojis and Youtube and Memes, Oh My!: The Power of Visual Social Media in Cultural Communications.”

The presentation explored the use of visual representation on social media, how consumers interact with visual media, and the biases that play a part in that media.

“It’s validating,” said Drenten, “to be honored for the work you love doing and being able to show students a different path for their career.”

Learn more

Ignatian teaching methods improve learning in quantitative business classes, suggests research


Professor Gezinus Hidding (left) is leading a groundbreaking effort to incorporate the Ignatian Pedagogy Paradigm (IPP) into data-heavy courses.

Context, experience, reflection, action, and evaluation. These Jesuit pillars for teaching form what’s called the Ignatian Pedagogy Paradigm or IPP.

IPP has been a natural fit for humanities classes and qualitative business classes. The Quinlan School of Business wants to expand this by tackling a big question: How could IPP be applied to data-heavy courses like statistics and operations management?

Already, Quinlan is finding early evidence that using IPP both improves student learning in quantitative courses and increases student commitment to responsible leadership.

Gezinus Hidding, PhD, associate professor of information systems, is leading Quinlan’s efforts to promote IPP in collaboration with professors Michael Hewitt, PhD, Mary Malliaris, PhD, and Peter Stonebraker, PhD.

Below, Hidding discusses the initiative and its importance.

Why incorporate IPP into quantitative courses?

Ignatian thought should be part of every decision, especially in business. IPP introduces ethical underpinnings, including to quantitative challenges. Students will be able to see how quantitative knowledge and decision-making can serve humanity. They start asking questions like, “Who are the winners and losers if we decide this way or another?”

Integrating IPP in quantitative classes is one way that Quinlan will continue to fulfill its mission to educate responsible business leaders across all business disciplines.

Tell me about Quinlan’s IPP project.

We are striving to create a template for quantitate courses that could be used worldwide and that shows our thought leadership in this area. In 2016, professors Mike Hewitt, Mary Malliaris, and I formed a project team to work on integrating IPP into a supply chain course and a managerial statistics course. After consulting with Loyola’s Faculty Center for Ignatian Pedagogy, we did additional research and created our own rubric for applying IPP to these quantitative courses.

Prof. Peter Stonebraker also been applying key elements of IPP in his business statistics class. Students in his course worked on a real data project with Catholic Charities of Chicago. Read about Stonebraker’s class and its outcomes →

This past summer in Seattle, we presented a paper about his approach at a conference of Jesuit business faculty.

How do a standard quantitative class and an IPP course differ?

In IPP, learning is about more than just reading a textbook or completing an exercise. It is adding experiences and action. This changes what happens in the classroom.

To gauge the students’ context regarding particular topics, each week the professor asks, “What do students walk into the classroom with?” They then tie key concepts more closely into the student’s real-world experiences.  For every concept, we ask, “How have you experienced this particular concept in your life as a person?”

We introduced action – or engaged learning – into the courses, including the service projects in Prof. Stonebraker’s class, where statistics students served as consultants for Catholic Charities.

What were the outcomes?

With the Catholic Charities project, we found that students learned statistics better and had an increased commitment to social change and care for others. We’re still gathering a lot more data so we can analyze and see more broadly the effects of Ignatian pedagogy in quantitative classes.

Why is this important to the business community?

We’re suggesting that students will learn the quantitative material better with IPP, which is important in a world increasingly relying on data. They’ll also have more hands-on experience, which leads to more knowledgeable employees for companies.

The students are also on the path to becoming well-rounded, thoughtful, and ethical employees, which will benefit employers and society overall.

Something that you’ve learned along the way?

I’ve learned to never underestimate our students. They do a fabulous job when they are called upon.

Learn more

Ignite Lab hosts alumni unveiling


Katie Crocker (center), a sophomore finance major, networks after presenting her idea for a campus safety app.

By Lizzie Erftmier | Student reporter

More than a hundred Loyola alumni joined Ignite Lab members, faculty, and staff on Oct. 16 to celebrate the launch of Ignite Lab, a program that supports entrepreneurship at Loyola.

Attendees enjoyed networking and refreshments before five speakers took the microphone to begin the program.

Key takeaways

Here are four key takeaways from the event.

1. Loyola entrepreneurs are clamoring for Ignite Lab’s services.

Dean Kevin T. Stevens believes Ignite Lab is fundamental to jumpstarting the Loyola community’s business ideas. He even made a comment about the number of alumni he has spoken to that wish they would have had access to Ignite Lab when they were students.

2. Chicago’s entrepreneurial community welcomes Ignite Lab.

Kevin Willer, founding chief executive officer of 1871, is happy to see Loyola embracing the entrepreneurial spirit. Willer believes Chicago is a hub for entrepreneurship. When he originally launched 1871, Chicago’s leading entrepreneurial hub for digital startups, he faced a number of challenges, but now he says the community is thriving.

3. Even in its early stage, Ignite Lab has impacted student entrepreneurs.

Katie Crocker, a sophomore finance major, presented her idea of a campus safety app she envisioned to help keep students safe. Crocker worked with the First-Year Research Experience (FIRE) program to develop the app and utilized Ignite Lab to help with incorporation through the Business Law Clinic. Her next step is to work with Loyola Campus Safety to conduct a pilot test.

Jeffery Wagman, an entrepreneurship major who graduated in May, presented his plan for Kaathy, a business he launched in order to help families simplify the funeral process. Under the mentorship of Ignite Lab, Wagman was able to determine the scope of his business, benefit from mentors, connect with professionals, and understand how to grow his business. Most importantly, perhaps, is that Ignite Lab provided the necessary accountability he needed to help get Kaathy to the beta-testing phase.

4. Alumni are invited to get involved.

Uğur Uygur, Loyola entrepreneurship professor and founding director of Ignite Lab, encouraged alumni to help foster entrepreneurial creativity by serving as mentors, speakers, and workshop facilitators. Interested alumni should email Ignite Lab at ignitelab@luc.edu.

Students interested in joining Ignite Lab can apply here.

Event photos

View photos from the Alumni Unveiling of Ignite Lab in the gallery below or on Quinlan’s Flickr page.

Ignite Lab's Alumni Unveiling

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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.

December 2018

November 2018

October 2018

September 2018

July 2018

June 2018

May 2018

April 2018

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

  • Pacific Standard
    Geoengineering: A Dangerous Tool or Climate Control of the Future? →
    Professor of Sustainable Business Management Nancy Landrum discusses geoengineering and its future.
  • Thrive Global
    Circular Argument: Adopting nature's business model might be best investment →
    Professor of Sustainable Business Management Nancy Landrum explains why businesses should look towards nature to reduce energy waste.
  • ABC 7
    JC Penney closing up to 140 stores →
    Associate Professor Lauren Labrecque comments on the current trends regarding physical retail stores in an era of online shopping.

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.

Leaders discuss integrating impact into business

Leaders discuss integrating impact into business

Dorri McWhorter, CEO of the YWCA of Metropolitan Chicago, shares how she has brought a business mindset to energize a 140-year-old nonprofit organization.

By Brittany Grosser-Basile | Student reporter

Chicagoland leaders gathered at Leading Business for Good to discuss how business can tackle social issues and how business schools can better equip students with the skills to do well and do good in their careers.

Bob Parkinson, chair of Loyola’s Board of Trustees, began the Baumhart Center event by emphasizing “the potential that the business community in this country can play in addressing social issues.”

The panel that followed, moderated by Jennifer Griffin, Raymond C. Baumhart, S.J. Professor of Business Ethics, consisted of four executives, each making a big impact in their industries:

  • Steve Collens, CEO of Matter
  • Mike Evans, Co-founder of GrubHub and Founder of Fixer
  • Dorri McWhorter, CEO of YWCA of Metropolitan Chicago
  • Jim Nordmeyer, Vice President of Global Sustainability of O-I

Key takeaways

Among many insightful remarks and suggestions, four key takeaways emerged from the event:

1. Be intentional and define success

Evans said, “Intentionality and the personal definition of success are critical.” He recommended defining what success looks like at each stage of your life, including students defining educational success while they are in school.

He also argued that “impact businesses should have a higher than index return for whatever the index is for startups because the intentionality and the thoughtfulness of the founders outweighs any limitation in market scope.” 

Collens similarly spoke to the importance of being intentional. He said it is important to ask, “What do I have to do as the leader of this organization in order to make sure that everybody on the team understands how what they’re doing every day relates to the larger mission?”

2. Overcome the inevitable tension

The panelists agreed that there will always be tension between business and social impact work. The tension can play out in large decisions, as well as in small, tactical decision-making such as word choice.

“It’s a matter of asking the right questions, engaging in a dialogue, and understanding what the parties are looking for,” Nordmeyer said. Organizations should seek to create a win-win situation for all parties.

3. Develop strategic partnerships

McWhorter spoke about how YWCA Chicago always looks at what partnerships they can develop that will support their mission. Their business integration strategy has led them to numerous successful partnerships.

For example, YWCA formed a partnership with the rideshare company Uber to support its mission to economically empower women. YWCA drove female driver recruitment in Chicago, encouraging women to earn money through the Uber platform. Chicago now has the highest percentage of female Uber drivers in an urban market.

According to McWhorter, YWCA looked beyond the surface and saw how the partnership could help their mission. They have since replicated this strategy across a number of industries.

4. Prepare students to do well and do good

The panel emphasized the importance of integrating impact and thinking critically. McWhorter said, “You’re always making an impact,” so it is important to teach students from day one to consider whether that impact is good or bad. 

Event photos

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

Leading for Good Fall 2018

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Q Mentorship: Connecting business students and alumni mentors


Alumna Shanelle Trinidad mentored student Isabella Pradhan through the Q Mentorship Program, which helped Isabella land an internship in New York City.

Last spring, Junior Isabella Pradhan received a phone call she’ll never forget: she had earned a paid finance internship in New York City.

On the phone to share the good news was Shanelle Trinidad (BBA ’09), Pradhan’s mentor through the Q Mentorship Program and a vice president in Equity Sales at Jefferies Financial Group.

“I never would have had the opportunity to intern in New York or learn from Shanelle without the Q Mentorship Program,” says Pradhan.

Connecting students and professionals

The Q Mentorship Program is a supplement to Quinlan’s BSAD 220 Career Preparation course. Through the class, business students are paired with a mentor who is either a Loyola graduate or a business professional connected to Loyola.

For Trinidad, volunteering to be a mentor was an easy decision.

“I certainly wouldn’t have made it this far in my career if I didn’t have people who cared enough about my progress to help me build upon my skillset,” she says. “There’s great value in mentorship, and I wanted to give back.”

According to Trinidad, the most valuable aspect of mentorship is having access to people who have experience in a potential career path.

“You can discuss someone’s day-to-day, their own experience in getting their foot in the door, quality of life, etc.,” she says. “Not only that, but you can make a connection with someone who has the potential to get your foot in that door.”

Launching careers

Trinidad certainly helped open doors for her mentee: Pradham attended several events with her mentor, including flying to New York to attend Jefferies’ Inspiring Women for Finance Symposium. Subsequently, Pradham was invited back to New York to interview for an internship at Jefferies. “And she got it!” says Trinidad. 

“The Q Mentorship program is really what you make of it,” adds Trinidad. “Finance was never on Isabella’s radar as a potential career, and I’m happy that she’s considering it given the experience that she’s had with me.”

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Johnson-Scales encourages students to be resilient through detours

Johnson-Scales encourages students to be resilient through detours

Baumhart Center founding director Seth Green and Fifth Third Bank senior vice president Nicole Johnson-Scales discuss navigating careers at the intersection of purpose and profit.

By Brittany Grosser-Basile | Student reporter

Students and mentors alike packed into the Schreiber Center’s Board Room on September 24th to hear insights from corporate social impact leader Nicole Johnson-Scales.

Johnson-Scales, the vice president and head of community development for Fifth Third Bank, spoke as part of the Baumhart Center’s Fisher Family Conversation Series, which brings foremost executives in social business into dialogue with Loyola students.

Key themes

While discussing her successful career at the intersection of profit and purpose, three themes emerged:

1. Pay attention to your personal brand

Johnson-Scales spoke about being mentored by a senior executive early in her career. At one point, this executive said that he appreciated the social work expertise she brought to the team.

This was her “Aha!” moment. Johnson-Scales actually majored in communications and she wanted to be viewed as a business leader. She realized she wasn’t doing an adequate job of connecting her social impact work to the business goals of the company.

Once she understood that, she became very intentional about tying her work directly to helping the business grow. 

2. Build strong relationships

Johnson-Scales stressed the importance of building relationships up, down, and across an organization. She treats the bank’s administrative assistants and security guards with the same respect she treats the president.

After building strong relationships, she says, you can ask for feedback to better yourself. Even though that can be uncomfortable, “your greatness lies outside of what feels very comfortable.”

She emphasized that it’s important to have the emotional maturity to ask colleagues what you can start doing, stop doing, and continue doing. Doing this can help you to both build better relationships and be conscious of your personal brand.

3. Be resilient through detours

Johnson-Scales spoke about her journey from the start of college to her current role at Fifth Third Bank. Her path was filled with detours, but she did not let them stop her from achieving success.

“Your detours on your journey do not define who you are,” Johnson-Scales said. “When you get these detours along your journey, it’s for a reason. It’s to make you better, it’s for you to develop, it’s an opportunity for accountability, and it’s an opportunity to reflect. It prepares you for what is next in your career. It prepares you for greatness.” 

She encouraged the audience to remain positive and have stamina through the detours that they will inevitably face.

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Pettis Kent


"The top lesson to take from the supply chain field is that we live in a dynamic, not static, world. Almost no day, week, or month is the same," says Professor Kent.

Degree: PhD in Business Administration with a focus in  Supply Chain Management and Operations; University of Minnesota – Carlson School of Management

Occupation: Assistant Professor

What is your educational and professional background?

I went to Florida A&M University (FAMU) for my bachelor’s degree in marketing as well as my master’s degree in operations. When I was nearing graduation from FAMU, I considered pursuing jobs in either marketing or supply chain, and chose a supply chain role at The Procter and Gamble Company, where I worked for 12 years. While there, I had multiple global supply chain roles, developing and managing supply chains across the globe. Eventually, I decided I wanted to leverage my experience and ultimately become a professor, so I left P&G in 2012 and pursued my PhD at the University of Minnesota.

What drew you to supply chain management?

While completing my undergraduate degree, I had a marketing internship at Ford between my sophomore and junior year. Before my final year in graduate school, my contacts at Ford asked if I was interested in performing a supply chain internship. Through this internship, I saw the impact that effective supply chain management can have on a firm’s bottom line, especially in a heavy manufacturing environment! That experience is what really motivated me to pursue opportunities in the supply chain field. While I had several offers for marketing jobs post graduation, I felt that a job at P&G in their supply chain department would be dynamic and allow me to do business in different countries/cultures. I was right, and my time at P&G continues to impact the way I teach my classes as well as how I conduct research!

What led you to Loyola?

What attracted me to Loyola was three fold. First, I was attracted to the Information Systems and Supply Chain Management department and its desire to grow and improve an already strong department. I am excited about being a part of that growth and development! Secondly, Loyola is a close-knit community in which the faculty, staff and administration care about not only delivering a top-notch education to our students, but we also care about the making the world a better place. Lastly, I love the idea of having a business school in a business rich environment like Chicago. Having spent time in Minneapolis for my PhD, I saw firsthand how a business school and its students could benefit by interacting with a strong business community.

What is your favorite teaching style?

I am passionate about bridging the gap between academia and the “real world” via experiential learning. One of my favorite professors in grad school, Dr. Andy Van de Ven, calls it “Engaged Scholarship.” I believe that it is important to teach my students how the knowledge learned from the textbook is applied in the real world, so I assign and discuss case studies with them on a regular basis. I also bring in guest speakers who are currently addressing the issues we discuss in class for the best companies around the world (P&G, FedEx, Scott’s, Presence Health, Ritz-Carlton, etc.). I want my students to leave my classes knowing confidently that “I know how to apply what I learned in the real world.”

What is your research focus?

My research up until now has been focused on “production process moves,” which is when a company changes product manufacturing locations, whether it’s within or between countries. Many times, firms focus on various key decisions of the move, including brownfield vs. greenfield selection, current vs. new equipment, etc. but do not focus on perhaps the most elusive part of a move, which is transferring the knowledge associated with the process. My first published paper (Kent and Siemsen 2018, Production and Operations Management Journal) focuses on the use of templates and explicit knowledge, and the boundary conditions that come with using templates. This is an important topic, because there are so many firms moving their production globally, with varying degrees of success. My goal is to help those undergoing production moves to develop winning strategies for their firm.

What supply chain trends have caught your attention?

One of the biggest trends within business and industry is the changing dynamics of global supply chains and the impact these changes are having on the firm and its partners. Whether it is the declining production cost gap between the U.S. and China, the maturation of production capability within countries like India, Vietnam, and Mexico, or the impact that geopolitical decisions (e.g., U.S. tariffs on Chinese imports) are having on trade, it is important for Quinlan’s students to understand that these trends have the power to impact them and their careers for decades to come!

What is the top lesson to take from supply chain?

The top lesson to take from the supply chain field is that we live in a dynamic, not static, world. Those in marketing, accounting, and finance may say the same, but in global supply chain management, almost no day, week, or month is the same. Our goal within Quinlan is to prepare our students to perform well in any environment, so that is definitely a driving force in the way I teach my classes!

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Business Data Analytics program highlighted in Crain's Chicago Business Roundtable Discussion


Four Chicago-area universities discussed programs that help professionals take the next step in their careers.

"The need for business professionals who understand how to interpret data is growing everywhere," says Pamela McCoy, associate dean, in a Crain's Chicago Business roundtable discussion.

The roundtable featured leaders from four Chicago-area universities discussing innovative programs for professionals.

McCoy focused on Quinlan's MS in Business Data Analytics and how the one-year program is preparing skill upgraders and career changers to be data-driven business leaders.

Below are highlights from McCoy's comments for the roundtable.

What distinguishes Quinlan's MSBDA program

McCoy identified several distinguishing features of Quinlan's business data analytics program:

  • One-year program
  • Taught by leading academics and practitioners
  • Hands-on, experiential client projects
  • Builds both critical analysis and the technical skills needed to build models, work with databases, perform data visualization, write code, and analyze data statistically
  • Cohort model, where students take first six foundational courses together as a group and build strong professional relationships
  • Night and weekend classes compatible with students' work and life obligations

How to pick an MSBDA program

"The best way to evaluate a program is to talk to faculty and students, and even visit campus if time allows," says McCoy. "These personal interactions will give potential students a strong sense of the program and if it’s the right fit."

For a business analytics program, students should consider if the program provides the skills needed and an opportunity to apply them.

According to McCoy, too many other programs teach a skill, but don’t have the structure to help students retain and apply it beyond one course. In contrast, courses in Quinlan's MSBDA program build on each other and culminate in a capstone real-world consulting project that brings all the learned skills together.

Read the full roundtable discussion →

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Information systems and supply chain alumni honored


Alicia Carlson (BBA '14) (center) received the Rising Star in Supply Chain Management award during the 2018 ISSCM Alumni Awards.

Earlier this year, the department of Information Systems and Supply Chain Management (ISSCM) presented its first annual alumni awards during a reception for alumni and friends. 

The awards recognize up-and-coming and established professionals in supply chain and information systems management who reflect the Ignatian spirit in their daily lives.

2018 award winners

Rising Star
in Supply Chain Management
Alicia Carlson (BBA ’14)
Senior Consultant, CGN Global
Rising Star
in Information Systems
Joseph Gendusa (BBA’14)
Data Analyst, Expeditors
Alumnus of the Year
in Supply Chain Management
Patrick Larmon (MBA ’79)
CEO, Bunzl
Alumnus of the Year
in Information Systems
Nishant Upadhyay (MSISM ’04)
Vice President, Information and Data Management, American Family Insurance

Event photos

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

ISSCM Alumni Awards 2018

About the award winners

As a Loyola student, Alicia Carlson was in the Interdisciplinary Honors Program, as well as a participant in Enactus and APICS. After her graduation, Alicia worked at PepsiCo in a variety of roles in manufacturing and warehousing, maintenance and engineering, and supply chain capability and continuous improvement, and process improvement engineering. She is currently a senior consultant with CGN Global and works on projects related to supply chain management.

Joseph Gendusa double-majored in information systems and finance and graduated summa cum laude. While a student, he was a member of the Quinlan Honors program and Beta Gamma Sigma. After graduation, Joseph joined Expeditors, a global logistics company, as a business intelligence analyst on the Network Management Center team. In 2017, he was promoted to data analyst on the Enterprise Data and Analytics team where he does intensive work with databases and data warehouses.

Patrick Larmon has been a part of Bunzl since 1990 after they acquired the company that he owned, Packaging Products Corporation. Patrick held a number of senior management positions at Bunzl before becoming president of North America in 2003 and chief executive officer in 2004. In recent years, he has championed the reduction of environmental impacts at Bunzl by focusing on sourcing and finding green packaging alternatives for customers.

Nishant Upadhyay joined American Family Insurance in 2007 as a data warehouse designer in the Business Intelligence group. He also served as a metrics manager in the Claims area and director of Business Intelligence. In 2017, he was appointed vice president of information and data management. He is focusing on executing a strategy to migrate data assets to the cloud and build a foundation to leverage data across the enterprise.

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Entrepreneurs: Find resources at Loyola's new startup incubator


Ignite Lab gives Loyola students, faculty, and staff from all disciplines the resources to start their entrepreneurial dreams.

Biology students with ideas for an app. Philosophy faculty mulling a new business.  Residence Life staff excited to launch a consulting practice. If you're unsure how to start, help is here!

All Loyola students, faculty, and staff can now access resources to make their ideas a reality.

Ignite Lab is the new virtual startup incubator at Loyola. It helps jump start the entrepreneurial ideas of the Loyola community through mentorship and other support.

Support and services for entrepreneurs

Ignite Lab hosts events and provides individualized services for its members. The free membership is open to anyone curious about working at a startup or founding a new venture.

The incubator organizes resources from across Loyola. Partners include the Quinlan School of Business, College of Law, School of Communication, and Department of Computer Science.

Services available to members can include:

  • Faculty and professional mentorship
  • Legal services and support
  • Workshops by industry experts
  • Financial support

Members also receive access to:

  • 1871, Chicago’s leading community for startups and corporations
  • CME Group Foundation Business Analytics Lab within Quinlan

Apply for Ignite Lab membership →

Your accountability partner

Student Stephanie Lancz is excited by the accountability that the lab offers.

“Starting a business on the side, especially as a full-time student, is difficult,” says Lancz. "The factor of accountability through Ignite Lab helps keep ideas moving.”

The lab's student members also appreciate help moving their business forward. In a recent survey, they ranked accountability and mentoring as the most valuable resources offered by Ignite Lab.

Skills that benefit everyone

Uğur Uygur, a Quinlan professor and director of Ignite Lab, encourages the entire Loyola community to get involved. He also invites students to consider the entrepreneurship courses in Quinlan.

“In our courses, students develop technical knowledge that only amplifies over their lifetime,” says Uygur. “Students find that they benefit from these skills regardless of their career path.”

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Graduate students study global supply chain in Rome


Eighteen MBA and supply chain graduate students studied abroad in Rome in summer 2017.

Beginning in May 2017, a group of 18 MBA and Supply Chain graduate students led by Quinlan professors John Nicholas and Michael Hewitt traveled to Rome for a class on global supply chain management. 

The first and last class sessions were held in Chicago, and the other four sessions held in Rome. While in Rome, the class visited the pasta production facility of Barilla Foods in Ascoli Picento and the nearby wine production facility of Paolini & Stanford Winery. The visits included tours of production facilities, talks with company managers, and samples of the products. 

Students also visited the Vatican Museum and other historic sites, restaurants, and trattorias, and experienced the festive local nightlife, which was made easy by the Loyola Rome Center’s proximity to downtown Rome and nearby bus routes.  

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Five leaders selected as Social Impact Scholars

Five Leaders Selected as Social Impact Scholars

From left: Social Impact Scholars Meg Lassar, Katie Welge, Daisy Fedt, Rachel Graham, and Liz Summy meet with philanthropist Art Mollenhauer (middle).

By Brittany Grosser-Basile | Student reporter

The first cohort of the Baumhart Center’s Social Impact Scholars program began on September 10 with five extraordinary social impact leaders who were selected from a large pool of talented applicants.

The program, generously supported by a philanthropic gift, offers half scholarships to established leaders from high-performing nonprofits to participate in Quinlan’s 10-week Mini-MBA program.

The students meet one evening per week to engage in business topics and strategies that can be implemented at work the next day. The Baumhart Center then hosts a special eleventh workshop exclusively for the scholarship recipients that focuses on how to leverage the Mini-MBA knowledge and skills toward advancing impact at their nonprofit organizations.

The scholars are already off to a strong start. Here’s why they are excited about the program in their own words:

Daisy Feidt

Executive Vice President of Access Living

“I am thrilled to be a Social Impact Scholar through the Baumhart Center for Social Enterprise. The Loyola Mini MBA program will give me a framework to lead Access Living with focus and clarity as we tackle some important challenges in the coming year, including the launch of our first for-profit initiative.”

Rachel Graham

Director of Programs of Lefkofsky Family Foundation

“I believe that this mini-MBA will help me build the skills needed to feel confident in what has to date felt like a foreign world. Cultivating a solid foundation in leadership, strategy, and business models will help me move at a quicker pace and give me the competitive edge, both in my current role and as I continue on in my career.”

Meg Lassar

Senior Vice President of Strategy & Advancement at Bright Pink

“Participating in the mini-MBA program will provide me with the business acumen I need to help my organization successfully execute against a new and ambitious strategic plan and demonstrate meaningful growth and impact in the women’s health space.”

Liz Summy

President/CEO at Human Resources Mgmt Assn. of Chicago (HRMAC)

“This timing of this program is great and the content lines up perfectly against my work plan for the coming year. I’m so excited to learn from the faculty and interact with others in the cohort. I was inspired on the first night!”

Katie Welge

Managing Director of Aspire CoffeeWorks

“As the managing director of Aspire CoffeeWorks, a growing social enterprise coffee company that employs adults with disabilities by selling coffee to businesses, I am in a unique position to impact lives in a positive way. The Quinlan Mini-MBA will help me become a well-rounded business leader who can successfully effect change in the community by raising awareness of inclusion for people with disabilities.”

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Undergrads study abroad at top business school in Finland


Sixteen information systems students from Quinlan worked on real-world projects with Aalto University School of Business students in Finland.

In August 2018, 16 sophomores and juniors studying information systems at Quinlan traveled to Helsinki, Finland, for a class at Aalto University School of Business, a top business school in Finland. The class was jointly organized by Quinlan professor Nenad Jukić and Aalto University professor Laura Sivula. 

During the class, Quinlan students and Aalto students worked on data and technology projects for Finnish corporate and government organizations, visited Helsinki-based tech companies, and enjoyed cultural experiences, including a trip to Tallinn, Estonia. 

"Our students represented Loyola in the best possible fashion, and they received very positive feedback both from Aalto students and faculty and the local partner organizations," said Professor Jukić.

This was the ISSCM Department's first-ever study abroad course for undergraduates. Due to its success, the class is scheduled again for summer 2019.

Trip photos

View photos from the study abroad class in the gallery below or on Quinlan’s Flickr page.

Undergrad Study Abroad in Finland, 2018

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The Baumhart Center’s impactful year


Baumhart Center events and initiatives reached across the Loyola campuses and throughout Chicago during the 2017-18 academic year. (Image: Getty)

The Baumhart Center for Social Enterprise and Responsibility is laying the foundation to be a leading global center in advancing the practice of social business.

During the 2017-18 academic year, the center welcomed Director Seth Green, developed six new learning and capacity building initiatives, and involved thousands of leaders and students. Download Baumhart Center annual report →

“This first year has been a dream come true,” says Green. “At the outset of the year, we wondered, ‘If we build it, will they come?’ The response was an overwhelming yes.”

By the numbers

The numbers illustrate the successful year in the Baumhart Center:

  • 4,000+ leaders and students participated in Baumhart Center learning gatherings and presentations
  • 100+ speakers visited the center to enrich the curriculum and to give students exposure to real-world examples
  • 12 nonprofits and social enterprises received capacity-building support through student-led consulting projects and applied research

“We were awed to see thousands of students and leaders play a meaningful role in our programs and activities this past year,” says Green.

Baumhart Center approach

The center has a three-prong approach to advancing social business:

  • Education
    Support academic concentrations, courses, and workshops that prepare individuals to be leaders in social impact, enterprise, and responsibility. This year, the center helped develop a new graduate course in social enterprise and a new minor in nonprofit management will launch in 2019.
  • Engagement
    Involve students and leaders through learning gatherings that explore how to integrate business strategy and social purpose to advance the greater good. Marquee events include Leading for Good, Tyrrell Conversations, and Do Well and Do Good.
  • Research
    Study what works in social business and consult with companies and organizations seeking to apply these practices. Read more →

“Most exciting of all has been to see the impact the center is making on campus and in Chicago,” says Green. “Many students engaged in our efforts envisioned new goals for their future and even connected with new jobs through our network. And many nonprofits, social enterprises, and businesses enhanced their strategy and impact through our partnerships.”

Partnership makes it possible

More than a dozen partners co-sponsored programming with the Baumhart Center in 2018. Examples include:

  • Future of social entrepreneurship
    Loyola Limited and Baumhart hosted keynote remarks by Kickstarter co-founder Charles Adler. Read more →
  • Philanthropy in America
    The Alford Group, Lipman Hearne, and Baumhart hosted a leadership breakfast exploring the latest innovations and trends around philanthropy. Read more →
  • Business of social impact
    Wintrust and Baumhart hosted a panel featuring Chicago Cubs owner Tom Ricketts, Wintrust CEO Ed Wehmer, and Seth Green.
  • Chicago’s B Corp community
    Forefront and Baumhart hosted an evening of fun, networking, and learning.

Join Baumhart in 2018-19

The Baumhart Center has an exciting 2018-19 planned, including:

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Impact investing blurs boundaries, says leadership panel


Leaders from throughout the impact investing field discussed the latest industry trends.

By Brittany Grosser-Basile | Student reporter

Leaders discussed the latest trends in the impact investment field at Investing for Global Impact, a standing-room-only breakfast on September 6 hosted by the Baumhart Center for Social Enterprise and Responsibility.

The breakfast event featured four panelists:

  • Kate McAdams, Managing Director, Arabella Advisors
  • John O'Shaughnessy, CEO, Franciscan Sisters of Mary
  • Priya Parrish, CIO, Impact Engine
  • John Weakliam, CEO, Vita

Seth Green, founding director of the Baumhart Center, moderated the panel.

Three trends in impact investing

Three themes emerged during the event:

1. Sectors are converging to accelerate impact

Impact investing brings together people from various professional backgrounds and sectors to accomplish more with their money. Impact investors are making intentional investments focused on outcome. “Impact investing calls for cross-sector collaboration and partnership,” Parrish said. “I think in the financial and investment industries, some of the best minds gravitate to the impact investing world because we operate in a different way and there is something deeper there.”

2. Impact investing is not black and white

There is no “one size fits all” strategy in impact investing. The motivations for investing are multifold, and funders have varying risk tolerances and degrees to which they desire to align their impact investing strategy with their philanthropic mission. O’Shaughnessy emphasized that investors should “never compromise on the process you go through to determine how you might actually integrate something [into a portfolio] that produces positive returns. Understand it, be informed, make really good informed decisions.”

3. Everyone can participate in impact investing

Impact investing isn’t limited to professional investors. People of all ages and backgrounds can engage in impact investing. As O’Shaughnessy pointed out, the average person can invest through platforms such as Swell Investing or through ESG funds managed by financial services companies.

Role model for impact investing

At the end of the panel, Weakliam discussed the Vita Green Impact Fund. An example of all three event themes, the fund combines climate action with delivery on the UN Sustainable Development Goals and has a vision to leave no one behind. The fund provides sustainable and affordable water and energy to rural people in Eritrea and Ethiopia and generates carbon emission savings that are sold on voluntary carbon markets with the income used to repay investors.

“Impact investment offers the potential for scale,” Weakliam said. “It’s sustainable. Grants are utterly unsustainable, and sustainable finance is what we have to generate."

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Quinlan ranked as top undergraduate business program in Chicago


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

Quinlan's undergraduate business program is the best undergraduate business program in Chicago, according to the latest round of U.S. News & World Report rankings. The 2019 rankings place the program at No. 79 in the nation.

Several of Quinlan's undergraduate programs also ranked:

Also, Loyola University Chicago was ranked No. 89 in National Universities and No. 60 in Best Value Schools.

The 2019 U.S. News & World Report Best Colleges rankings were released on September 10, 2018, and rank undergraduate programs. Graduate program rankings are released annually in March.

See the full list of rankings for Quinlan →

Illinois family business of the year award winners announced


The 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 is pleased to announce the winners of its 25th 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 to 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 Thursday, November 15 at 6:30 p.m. at the Four Seasons Hotel Chicago. Purchase tickets →

2018 Award Winners

The 2018 Illinois Family Business of the Year Awardees are:

  • Small Family Business of the Year Winner: Cushing
    A. Perry Homes, Batavia Enterprises, Daprato Rigali Studios Inc.
  • Medium Family Business of the Year Winner: Devon Bank
    Digital Check Corp., FONA International, West Side Tractor
  • Large Family Business of the Year Winner: Elkay
    Carl Buddig & Co., Ed Napleton Dealership Group, Handi-Foil
  • Community Service Award Winner: Stenstrom Companies
    Devon Bank, Ed Napleton Dealership Group, Elkay, Fellowes Brands, Rabine Group, Two Brothers Brewing
  • Dean’s Award Winner: Nielsen-Massey Vanillas
  • Century Award Winner: Follett

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. 

“The Loyola Family Business Center has been recognizing the best family businesses in the state for 27 years and shining a spotlight on the importance of family business to our economy,” said Anne Smart, director of the Loyola Family Business Center. “These businesses deserve to be recognized for their job creation, long-term, sustainable economic value, and commitment to the 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, William Blair, MassMutual, Hoopis Financial Group, MB Financial Bank, Oxford Financial Group, Perkins Coie, U.S. Bank Private Wealth Management, Abbot Downing, Crain’s Chicago Business, and Eli’s Cheesecake.

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Meet employers at the Quinlan Career Fair


Launch your career at our Career and Networking Fair on September 10 and 11.

Find your next internship or a career at our Career and Networking Fair 2018, hosted by Business Career Services. The fair is open to undergraduate students, graduate students, and alumni.

Fall Career and Networking Fair

September 10, 2018 | 3-6 p.m. | Finance & Accounting
September 11, 2018 | 3-6 p.m. | All Business Opportunities

LinkedIn Photo Booth | 3-5:30 p.m. | Both Days

For complete details or to register, visit RamblerLink →

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Supply chain students from Jesuit university in Mexico learn from Quinlan and local companies


Students and professors from ITESO, a Jesuit university in Guadalajara, Mexico, visit C.H. Robinson as part of an intensive supply chain seminar hosted by Quinlan.

In July, Quinlan hosted 21 graduate students and three professors from ITESO, a Jesuit university in Guadalajara, Mexico, for a one-week intensive supply chain seminar led by John Caltagirone, executive director of Quinlan’s Supply and Value Chain Center and founding director of the Loyola Business Leadership Hub.

The graduate business students work for leading companies in Mexico and are specializing in topics ranging from supply chain to marketing. 

The seminar consisted of morning lectures and afternoon tours of Chicago-area supply chain operations. The students toured four corporate members of the Supply and Value Chain Center:

  • Yaskawa
  • Hu-Friedy
  • C.H. Robinson

The seminar focused on understanding supply chain management and logistics and how it can create customer value, identifying issues and challenges critical to supply chain managers in today's business environment, and analyzing and resolving supply chain problems.

Seminar Photos

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

ITESO Study Abroad 2018

About the Supply and Value Chain Center

The Supply and Value Chain Center provides a solutions-focused platform for industry leaders and academics to develop applicable, effective solutions in the face of increased supply chain challenges.

The center is a member of the Loyola Business Leadership Hub within Loyola University Chicago's Quinlan School of Business.

From Croatia's World Cup run to the marketing classroom


Croatia's World Cup run inspired marketing professor Katherine Sredl, PhD, who is of Croatian heritage, to reflect on the "indescribable feeling" that motivates her research on privatization and the relationship between sustainable peace and markets. (Photo: Getty Images)

After the Croatian national team lost to France in the World Cup 2018 final, Croatians enthusiastically welcomed the team home to Zagreb. 

Below, Katherine Sredl, PhD, clinical professor of marketing, who is of Croatian heritage, draws a connection between Croatia's support for its team and what fuels her research.

Reflecting on an indescribable feeling

By Katherine Sredl | Clinical Professor of Marketing

Indescribable (Neopisivo). That's the title of the official Croatian World Cup fan song. It's the feeling of almost every Croat in the Diaspora, from Chicago to Buenos Aires to Cape Town to Sydney to Berlin.

Ok, maybe it's just my feeling, but from what my Instagram, Twitter, and Facebook feeds tells me, it's the feeling of most of the Diaspora. When I am in Croatia, sometimes I can't believe that Croatia beat all the odds and exists.

It's a feeling I have, even when I am checking bags at O'Hare and the luggage tag says ZAG, even when I am lecturing as a visiting professor at the University of Zagreb, Faculty of Economics and Business. Even when I am doing something mundane, like walking to meet a friend for ice cream at Vincek, or something cool like meeting Loyola's men's basketball player Bruno Skokna and family for coffee at my favorite cafe, Pif, near the statue of Nikola Tesla, or when I am walking on the ancient stones in the main square in Hvar, or hiking up Sljeme with a cousin.

Still a little surprised that it's all real, and I get to be a part of it.

Welcoming the team home

Then a day like this comes along to tell us, it's all real, and the feelings are, indeed, at least from my perspective, indescribable. Similar to following social media during Loyola's historic men's basketball Final Four this year, I can join in on social media and share my feelings and spend time, virtually, welcoming the team.

About half a million people came to Zagreb to greet our national soccer team, in a country of about 4.2 million people. There were so many people lining the streets, that it took the team over 7 hours to drive 18 miles from the airport to the main square. I need about 25 minutes for the trip by car.

You might wonder why such a turnout for the World Cup's #2 team — because we did it in spite of our small size and the strength of our competition — France is a country of about 66.9 million people — and our joy and pride is indescribable.

From indescribable to world-changing

And that indescribable feeling is what motivates me in my research: I want help theoretically understand privatization (some also call it marketization) and the relationship between sustainable peace and markets, and I want to tell the stories of the people of the region, from the most to the least powerful and those in-between, women who worked in factories and are now unemployed, men who fought in the war and are now working to sustain peace.

In the classroom at Loyola, sometimes my students are from Croatian, Serbian, and Bosnian families. I hope to serve them by showing them that they can take that "Indescribable" feeling they might have — be it about the place they love or anything else — and reflect on how they can use it to “Go forth and set the world on fire," as St. Ignatius inspired us and as we say at Loyola.

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Alumni and clients bring real-world connections to marketing research course


Alumna Tyler Monroe (BBA '15) offers career advice to the marketing research students.

By Monica Sather | Student reporter

To celebrate ten years of teaching Quinlan's marketing research course, Stacy Neier Beran, PhD, decided to throw a party. But it wasn’t a typical party. Her “party” invited her network of Quinlan alumni into her Marketing Research course to connect with students as the students worked on client projects.

Beran’s marketing research course integrates clients into the classroom to give students hands-on experience with real-world research challenges and to provide insights to the client organizations. Course clients have included Hoy, BMO Harris and the Magnificent Mile Association, Epic Burger, the Loyola athletics program, and 25 other Chicago clients.

But in fall 2017, Beran introduced Quinlan alumni into the equation.

All-star alumni

Over the course of the 2017-18 academic year, 38 of Beran's former students—who she affectionately calls her "all-star alumni"—answered her "party" invitation. These alumni are actively engaged and thriving within the marketing research industry across the U.S.

"I wanted our students to see who they may become in this industry," says Beran. "A Loyola education is not as much about what you do in the classroom; it is about what you do outside of a classroom, beyond graduation. It is about the person you become."

Building the team

The alumni served as another resource for the students: they coached, guided, and challenged the students to approach their work in different ways.

The students communicated with alumni—who live in three different U.S. time zones—solely through Slack, a team collaboration and communication tool, during class sessions. Alumni answered student questions in the classroom in real-time.

"The alumni not only gave my team valuable feedback related to our marketing research class project, but were also more than willing to answer any questions we had," says Nicole LoDuca, BBA ’18. “They helped me better understand the industry and its potential career paths."

Beran sees the alumni as her colleagues and co-hosts of the party, co-educating the marketing research industry’s future all-stars.

"Combining my Loyola education and work experience, I am able to help the students bring real-world solutions to the classroom," says Sara Schaeffer, BBA '14, one of Beran’s All-Star Alumni and a quantitative researcher at Grubhub. "It makes me extremely proud to be a part of the Loyola community and to be able to give back to current students."

Celebrating milestones

Beran plans to continue the project and incorporate more alumni into the experience after she conducts a research project of her own, collecting data on what did and did not work for the students and alumni.

"Seeing the careers that the alumni from this class now have achieved in such a short amount of time is profound and remarkable," says Beran. "They have passed through so many milestones I never could have dreamed for them when they were sitting in the classroom. This proves the extraordinary lives that our students are preparing to live. It is something to celebrate."

Taking stock of market uncertainty


"Understanding analysts’ underlying incentives is necessary for interpreting and utilizing analysts’ forecasts and recommendations," says Choi.

By Monica Sather | Student reporter

Investors should be careful about how to use and interpret financial analysts’ forecasts, suggests research by Hae mi (Amy) Choi, PhD, assistant professor.

Here, Choi discusses her research on macroeconomics and market uncertainty and why it is important to the business and Quinlan communities.

Tell me about your research.

One major area that I study is macroeconomic conditions, specifically market uncertainty, and how that impacts investors and financial analysts. I believe that they are the most important participants in financial markets, and specifically the stock market.

One of my recent papers titled "Analysts’ Optimism and Incentives under Market Uncertainty" was published as a lead article in the Financial Review. In the paper, I examine how the financial analysts’ incentives and their forecasting performances are affected by this macroeconomic condition of market uncertainty. Market uncertainty is when investors have difficulty assessing the current and future market conditions because there is a lot of volatility within the market.

This specific paper looks at whether analysts’ incentives to be more opportunistic increases if there is a lot of volatility in the stock market. For instance, I found that financial analysts tend to issue more favorable and optimistic earnings forecasts for firms because they are penalized less for being inaccurate. They can attribute their inaccuracy to the volatile market conditions—it is not their fault; it is the market that’s uncertain.

On the other hand, the analysts are rewarded for this opportunistic behavior of optimism. Optimistic forecasts generate more trading activity, and if there is more trading, more trading commissions go to the brokerage firm that the analyst works for. So their incentives to issue optimistic forecasts are significant. What we found is that financial analysts who should be unbiased and should be working in the favor of the investors are not actually unbiased. They exhibit this opportunistic behavior that varies across different market conditions, and one market condition is market uncertainty. So investors should be careful about how to use and interpret these analysts’ forecasts, especially during these recent times of high market volatility.

Why is studying this area important?

Financial analysts are some of the most important information intermediaries in stock markets. Their earnings forecasts and stock recommendations have a great impact on stock investors, and hence, stock prices. Therefore, understanding analysts’ underlying incentives is necessary for interpreting and utilizing analysts’ forecasts and recommendations. My study is the first to look at how analysts’ incentives change with macroeconomic conditions—i.e., market uncertainty—over time.

In my studies, I view whether we are in a recession or an expansion as the average—the mean values of the economy or the market—whereas market volatility or market uncertainty are the variants.

So regardless of the mean, if there is a high variation in market conditions, how the variants impact participants in financial markets is an important question that has not been examined previously compared to the averages, like recessions versus expansions.

Everyone is interested in whether the economy will enter a recession, if the market level is low, and if the S&P 500 Index is lower or higher than last year. So I think this makes a contribution by looking at the variants in addition to the averages, and we find that these variants have an important effect on both investors and analysts.

Why is your research important to Quinlan students?

If you want to be a good investor, you need to not only understand what’s going on within a firm, but also the macroeconomic conditions and the stock market conditions in general.

Once a student graduates and gets a job with their first full-time salary, a part of their salary will go towards their retirement account. The majority of this account is invested in the stock market. So regardless of your major, everyone working will be a future investor at some point.

Understanding how other investors in the stock market process information and how financial markets function is fundamental, as it impacts the wealth of us all.

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Alumnus reflects on mentorship role


"When I heard that Loyola was looking for those who have career advice, I thought that this was something I could really contribute to," says Jim Dempsey, BBA ’81.

By Monica Sather| Student reporter

Alumnus Jim Dempsey, BBA ’81, vice president at Associated Bank, wanted to give the gift of time to his alma mater – and found the perfect fit serving as a mentor in the Q Mentorship Program. 

The Q Mentorship Program supplements Quinlan’s required career preparation course by pairing current business students with Loyola alumni and friends like Dempsey.

Here, Dempsey talks about his involvement in the program, his experience, and why other alumni should get involved.

Why did you get involved in the mentorship program?

About five years ago, I looked at myself and thought, "Why haven’t I contributed more to Loyola?" When I heard that Loyola was looking for those who have career advice, I thought that this was something I could really contribute to. I thought it was high time that I got involved more readily, and therefore I did.

What is the best thing about being a mentor?

The best thing is the feeling of helping someone. I’ve mentored two people, and I really feel students get something out of it and ask great questions. I also feel that the students appreciated my time, which I think is really important. Knowing that the time, effort, and advice that I am giving is appreciated helps motivate me.

For many years, I wasn’t really contributing to the institution from a physical point of view, i.e., my time. As I have a child of my own in college, giving physical time is much easier for me than monetary gifts, and I am more than happy to do that. And comparing those two—monetary to physical—the soul enhancing is a much more direct benefit of the physical.

What would you say to people considering becoming a mentor?

I think if someone is looking at how they can contribute, sometimes it’s monetarily, sometimes it’s actions, and sometimes it’s both. If you can, do both, and if you haven’t done the action part yet, then absolutely try it. I can almost guarantee that you will feel that much better as a person.

For those who have been in a career for a while, like myself, you know the challenges of it, and if you can help someone avoid a pothole or a hiccup, go for it.

Everyone has something to contribute. Whether it is two years, five years, or 20+ years of career experience, all are different, all are important, and all are pieces to a big puzzle. It is helpful to students to have somebody to put some of those pieces together. Every one of those experiences is important.

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Explore the new Loyola Business Leadership Hub website


The Loyola Business Leadership Hub's new website has launched.

The Loyola Business Leadership Hub launched a new website at LUC.edu/leadershiphub.

The new site helps organizations connect with the resources of the Quinlan School of Business, Loyola University Chicago, and the global Jesuit network of colleges and universities.

Underpinning all of the hub’s services is a commitment to doing well in business, while also doing good for stakeholders, communities, and the environment.

What the hub offers

  • Education: Develop key skill sets through the hub’s professional development, custom training, conferences, and webinars.
  • Research: Tap into research-fueled insights, industry experience, and local and global connections.
  • Networking: Connect with professionals and organizations who are facing—or have conquered—the same challenges as your organization.

Member centers

Each of the hub's member centers also has a new digital home:

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Alumna leads through service


Iliana Alvarenga in South Africa on a volunteer trip with UNICEF.

By Monica Sather | Student reporter

At Loyola, alumna Iliana Alvarenga (BBA '14, BA '14) honed her business skills—and found a passion for giving back at the global level.

Here, Alvarenga discusses her career advancement since graduation, her volunteer work with the United Nations International Children’s Fund (UNICEF), and how Quinlan has prepared her for her professional and volunteer work. 

Tell me about your new position.

I just accepted a new job opportunity at JPMorgan Chase, an investment bank and financial services company, where I am a competitive intelligence senior associate. I focus on supporting the business in understanding emerging consumer behavior trends, the changing payments landscape, digital and mobile initiatives in financial services, and new developments in financial technology.

Before that, I was a trends analyst for North America for Mintel, a market intelligence agency. I did consumer behavior research, and I was constantly monitoring what was happening across all categories, from health and consumer packaged goods (CPG) to financial services and technology.

My role at Mintel certainly prepared me for my new position at JP Morgan Chase. I look forward to taking my professional experience to the next level.

Tell me about your volunteering with UNICEF.

I’m the Chicago chair of UNICEF's Next Generation initiative. UNICEF is the largest humanitarian organization in the world. It works to protect and save children in over 190 different countries. The Next Generation initiative that I’m a part of brings together young professionals across the world to further UNICEF’s efforts, whether that’s through fundraising, advocacy, or community engagement.

I got started with UNICEF as a freshman at Loyola. When I was a senior, I was part of the UNICEF National Council, which is where you serve as a liaison with UNICEF USA in New York and manage different campus clubs across the nation.

Then, this year, I went to South Africa with UNICEF with a team of eight to experience UNICEF's work on the ground. UNICEF South Africa wanted to talk with my Next Generation colleagues and me about how they can leverage technology to help with programs to stop illness through increased handwashing, help girls excel in STEM-based careers, and more. They asked for our insight with different technologies that we use in the U.S., and how that could apply to their different programing.

The best thing about UNICEF is that even as a volunteer, you feel like you are a part of the organization. There are so many different projects and things to be working on.

How has Quinlan helped prepare you for your work?

When you’re a student at Loyola, you always hear that the education is based on service and service leadership, which I think is at the heart of my work for UNICEF. It was at Loyola that I strengthened my love for giving back.

I remember that in every Quinlan class, there was always this real-world aspect. I truly felt that every professor, instead of just going by the textbook, took a step back and helped us understand how what they were teaching us was going to impact us in our learning outside of the classroom.

There are so many different projects and presentations that I did in my time at Loyola that I still like to reference or think back on, and apply some of those concepts to what I am doing now.

For me, Quinlan strengthened a foundation of being strategic, but also encouraged us to always keep in mind what’s good for our communities.

Colleen Reaney named to Crain's Chicago's Notable Women in Education list


Colleen Reaney is the director of Executive Education at Loyola University Chicago.

Colleen Reaney, director of Executive Education at Loyola University Chicago, was named to Crain’s 2018 Chicago's Notable Women in Education list.

The inaugural list features 17 women who represent an impressive cross-section of Chicago-area colleges and universities, many of whom have served with distinction for decades. The honor is given to individuals for whom nominations were submitted.

Reaney joined Loyola in 2017 and has transformed the University's executive education offerings.

To see the full list of honorees, please visit Crain’s Chicago.

About Executive Education

Executive Education provides innovative solutions for a variety of professional development needs through open-enrollment courses, custom education, and global immersion experiences.

Executive Education is a member of the Loyola Business Leadership Hub within Loyola University Chicago's Quinlan School of Business.

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Business and the cycle of nature


What can business learn from nature's example? Nancy E. Landrum, PhD, outlines how nature can teach business to be more sustainable.

If a business wants to sustainably survive, it must take notes from nature’s 3.8 billion years of survival, says Nancy E. Landrum, PhD.

Below, Landrum, professor of sustainability management with an appointment in both Quinlan and Loyola’s Institute of Environmental Sustainability, outlines how businesses can learn from nature’s example.

How nature can teach business to be more sustainable

By Nancy Landrum | Professor of Sustainable Business Management

Spring is all around us: the flowers are blooming, the leaves are budding, and the grass is growing. From a cold snowy winter, the bounty of nature is blossoming before us.

We are familiar with this cycle. In predictable fashion, the flowers, leaves, and grass will reach mature abundance in the summer; they will begin to die and fall to the ground in the fall; they will be dormant during the winter; and they will become a nutrient to continue the life cycle again in spring. Each one has a purpose that contributes to ongoing life; this is the cycle of nature.

What can business learn from this example? 

Business as usual

Businesses don’t often think of using resources like the cycles of nature. Instead, businesses generally use resources in a more linear fashion: we take resources from nature—water, plants, animals, minerals—and we transform them into products to sell. The products are then used and discarded. This has led to a depletion of resources and an abundance of waste. We are faced with peak oil, peak energy, peak water, and more that communicates the fact that resources are being pushed beyond their limits of availability.

The growing awareness of environmental limits has led businesses to increasingly adopt actions that reflect an obligation to care for the environment: reduce carbon emissions, reduce waste, reduce packaging, use more eco-friendly materials, and the list goes on. The options are dizzying, and it can seem overwhelming to manage them all. 

What the cycle of nature teaches

But it can be quite simple if approached from the lessons of the cycles of nature: everything operates on renewable energy, produces no waste that is not reused for another purpose, and produces conditions that allow others to live and flourish. 

The Plant is a Chicago food-based small business incubator in a 93,500-square-foot former meat processing facility. It is also a local example of companies working together to create a circular model of resource usage and operations:

  • The building’s planned anaerobic digester will provide biogas to offset natural gas use for the HVAC and brewing operations.
  • The kombucha and beer brewing operations will provide carbon dioxide to grow plants in indoor growing operations.
  • The aquaponics facility fertilizes the plants with nitrates from fish, and the plants filter the water to return to the fish.
  • Plant Chicago, the nonprofit housed out of The Plant, conducts research on the economic and environmental potential of closing waste loops, in partnership with the food businesses co-located with them. For example, spent brewers grains have been used in the bakery for use in bread, to create bio-briquettes for the wood-fired stove in the bakery, as a substrate for mushroom farming, as fish food for the aquaponics farm, and as compost for outdoor farm operations.

Though these and other efforts, The Plant will divert over 10,000 tons of food waste per year from the landfill.

Another example can be found at Eileen Fisher, the women’s clothing retailer.  The company implemented a take-back program that will repair, resell, or remake items for a second life and therefore prevent waste. Since moving to this model, the company has taken back over 800,000 garments accounting for 3% of its products, but the goal is 100% recovery.

Nature’s rules for resource usage are simple: renewable, without waste, and conducive to life. If every company's actions followed these simple guidelines learned from nature's 3.8 billion years of survival, then it becomes clear that the company is creating conditions for its own survival.

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Examining corporate impacts beyond the financial


Prof. Griffin speaks at the Melbourne Business School in 2016, as part of the annual Melbourne Institute held by the Australian Centre for Corporate Public Affairs.

By Monica Sather | Student reporter

A Quinlan professor is cementing her position as a thought leader in business through her award-winning book on how corporations create value for business and society.

Jennifer J. Griffin, DBA, the Raymond C. Baumhart, S.J., Professor of Business Ethics, and Professor of Strategy, proposes a new narrative about business: a narrative emphasizing mutually beneficial relationships. These relationships are inclusive of employees, prospective employees, suppliers, distributors, shareholders, and contractors, as well as the many stakeholders impacted by corporate activity.

This narrative is explained in Griffin’s book, Managing Corporate Impacts: Co-Creating Value, which won the 2017 Best Book Award from the Academy of Management’s Social Issues in Management Division. The Academy of Management, which is the top professional association for management and organization scholars, honors books that have made the greatest contribution to the field.

Here, Griffin talks about her book, her research on corporate impacts, and why her research is important for the business and Quinlan communities.

Tell me about your book.

My book receiving recognition was an incredible honor and very humbling. It validated connecting business theory with what is happening worldwide to improve both theory and making a difference in practice. 

The book starts to systematically examine corporate impacts, which are points where corporate policy creates or destroys value, and how companies can manage these impacts to create enduring value in coordination with its stakeholders for the business and society.

In the management field, we frequently talk about economic or financial impacts of corporations. In the book I also delve into three additional types of non-financial impacts:

  • Employees in the workplace: You start by asking questions such as: who are you hiring? How do you train and develop employees? What is the succession plan? What are the safety, health, and education capabilities in the workplace?
  • Products and the value chain: Product impacts include both the manufacturing of the products and the supply chain and distribution chain. Organizations make many disparate, individualized decisions having a significant impact on products: from procurement and choosing ethical suppliers; to distributors and retailers and how to label and advertise goods/services; through the reuse or recycling of products at the end of its life.
  • Social impacts: This is probably the most difficult but the most important impact that organizations are focusing on now: building trust. Social impact highlights tangible evidence of organizations being part of the solution by making a significant contribution outside of the business boundaries. The impact might be with local neighborhoods or communities, through the local, state, or federal political system, or through partnering with multinational, international, or inter-governmental organizations. Impacts might be specific social issues such as hunger, poverty, homelessness, or based on company-specific capabilities such as location, ability to alleviate HIV-AIDS, disaster recovery, or potable water distribution.

The overarching question for business executives then is, is our organization trusted? Might it be asked to be at the table to talk about, to shape policy, to take action, convene forums, or provide leadership at the neighborhood, community, state, federal, or international level about some of these issues? Is it a trusted player, thinking about and taking action on these financial and non-financial impacts that only organizations can tackle? Is your business part of the solution, and not part of the problem?

How are ethics a part of the Quinlan experience?

I was honored to be named the Raymond C. Baumhart, S.J., Professor of Business Ethics when I joined the Quinlan faculty in fall 2017. One of the things that attracted me to Quinlan is its mission of social justice, which is one important aspect of social impact. I am ecstatic to be in this university to see this mission come alive, because not only is social justice being talked about among faculty, staff, students, and alumni; we are having thoughtful discussions about how businesses can be a force for good, with clear evidence of businesses doing well and doing good in many different ways.

For example, at Quinlan, through our course curriculum and co-curricular activities we are purposefully developing responsible business leaders who simultaneously create net positive impacts for employees, for investors, and within communities. In so doing, responsible leadership can make a positive difference in the world.  

Why is this of interest to the business community?

Businesses are a part of the solution to many social issues and social justice challenges. They play a part in helping to solve or lessen the injustices and create opportunities for a more level playing field. If you look at any number of different social issues that tie in with social justice, such as inequality, homelessness, poverty, as well as access to education, access to opportunities, or access to capital, a lot of these problems can be addressed, in part, through creative partnering with businesses. Or, creating businesses to solve these social ills.

How we think about businesses, how we construct and operate our businesses, and how we educate our future business leaders about the purpose of business, being a force for making a net positive difference, ties into finding solutions to social justice issues.   

For me, Father Baumhart's vision of and inspiration to meaningfully combine ethical thinking and values-based decision-making unleashes the potential for businesses to make a real difference in the world. His leadership in ethics-in-action continues to be a daily inspiration to me.

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Quinlan faculty and staff award winners


Several Quinlan School of Business faculty and staff members were recognized by the business school and by Loyola for excellence in teaching, research, and service during the 2017-18 academic year.

Quinlan Faculty and Staff Awards, 2017-18

Quinlan recognized eight faculty and staff members through the annual Quinlan Faculty and Staff Awards. This year's winners were announced on April 25, 2018.

Undergraduate Teaching & Student Engagement
Jenna Drenten
Graduate Teaching & Student Engagement
Theodora Bryan

Researcher of the Year
Swasti Gupta-Mukherjee
Geraldine R. Henderson
Dean’s Faculty Service Award
Mine Cinar

Lifetime Achievement in Teaching and Service
Al Gini
Ellen Landgraf
Staff Service Award
Victoria Valentine

Loyola's Excellence Awards Ceremony

Kenton Foutty received the Faculty Member of the Year Award given at Loyola's Excellence Awards Ceremony during the 2018 Weekend of Excellence. This is the only award given solely by the Loyola student population to a faculty member.

The award honors a faculty member who has supported and guided students in their personal and leadership development during the past academic year.

Congratulations to all the honored faculty and staff!

Congratulations, Class of 2018!


Quinlan students celebrated their Commencement at Gentile Arena on May 10, 2018.

Experience Commencement 2018 — from Quinlan's commencement celebrations through the Commencement Ceremony — through the photo galleries and videos below.

On May 10, more than 800 students graduated from the Quinlan School of Business. Nicki Pecori Fioretti (MBA '96), Director of Community Affairs, Illinois Housing Development Authority, delivered the keynote address, and Demitra Giannaras was the student speaker.

The day before the commencement ceremony, Quinlan celebrated graduating students at the Great Schreiber Takeover, a multi-floor commencement celebration at the Schreiber Center, and at the Annual Honors and Awards Ceremony for undergraduates.

Commencement Ceremony Photos

Commencement Ceremony 2018

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

Commencement Ceremony Video

Video: View the video above or on YouTube.

Commencement Ceremony Speaker

Video: View the video above or on YouTube.

Commencement Celebration Photobooth Photos

Quinlan Commencement Celebration 2018: Photo Booth

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

Commencement Ceremony on Social Media

Scroll below to see Commencement highlights from social media.

Quinlan Honors and Awards Ceremony

On May 9, the 67th Annual Honors and Awards Ceremony honoring top undergraduate students was held in the Corboy Law Center.

2018 Quinlan Honors and Awards Ceremony

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

Honorees included:

Candidates for BBA, Honors

Erin Barnier, Jack Bobruk, Tessa Boukal, Cormick Breslin, Cassandra Cumberland, Jacquelin Farquhar, James Fritz, Lukas Gilius, Faith Hemingway, Alexa Jackson, Amelia Jerkatis, Dmitriy Kalin, Hannah Kern, Benjamin Kilberg, Joshua Krause, Jessica Mendez, Robert Millman, Erin Morales, Julia Schweizer, Rachel Taylor, Sezim Zamirbekova, and Dylan Zernich

Quinlan Business Honors Key

Cassandra Cumberland

Delta Sigma Pi Key

Anna Wassman

Major Key Awards

  • Accounting: Julia Schweizer
  • Economics: Angela Mejia Garces
  • Entrepreneurship: Jeffrey Wagman
  • Finance: Patrick Wischerath
  • Human Resources: Michelle Libby
  • Information Systems: Faith Hemingway
  • International Business: Nicole Karwowski
  • Management: Samantha Pitts
  • Marketing: Lauren Holstad
  • Sport Management: Tessa Boukal
  • Supply Chain Management: Ryan Schmitz
  • U.S./Europe Double Degree: Paula Pujadas Perez

Dean's Key

Anna Wassman

Four essential characteristics for working across sectors


Loyola President Jo Ann Rooney (center) said that the ability to keep going and "be a perpetual, lifelong student" is necessary for a strong leader.

By Mary Ennis | Student reporter

Every seat was filled at the Baumhart Center panel Do Well and Do Good, which featured four leaders who have served at the highest levels of the private, public, and social sectors. 

The panelists were:

  • Fran Edwardson, retired CEO, American Red Cross of Chicago and Northern Illinois
  • Helene Gayle, President and CEO, Chicago Community Trust 
  • Jo Ann Rooney, President, Loyola University Chicago
  • Susan Sher, Senior Adviser to the President, The University of Chicago

After sharing their individual career journeys, the panelists examined what it takes to be a successful leader across sectors and how experiences in multiple sectors helped them advance in their careers and make a social impact.

Essential leadership characteristics

As part of the discussion, each leader named the leadership characteristic she thought was essential for thriving across sectors:

1. Vision

To help the people around you put their best work forward, Fran Edwardson said it’s important for a leader to be able to effectively describe their vision. She indicated that having a precise vision enables leaders to maintain the “accountability of having to own [their] decisions” throughout any process.

2. Translation

Helen Gayle spoke of the often overlooked importance of being able to "boil down information into bite sizes." She explained that passionate people generally have a “tendency to want to say everything, but [leaders] need to be as simple as possible and synthesize large amounts of information” to get their message across. In addition, Gayle noted how useful it is to learn the languages of other sectors so you can work well across them.

3. Resilience

Jo Ann Rooney added that resilience is an indispensable characteristic every leader must have. Rooney addressed the young leaders in the audience, telling them “you are going to mess up—sometimes really publicly— and definitely more than once.” When this happens, “figure out what it is going to take to get up and move again.” She added that the ability to keep going and “be a perpetual, lifelong student” is necessary for a strong leader.

4. Adaptability

Susan Sher, a former chief of staff to First Lady Michelle Obama, asserted that leaders need to be able to “accept things in a culture” that they are not used to. To do this, Sher explained that aspiring leaders should develop a strong set of “transferrable skills” that can be applied across several different settings and cultures—thus increasing their ability to effectively “speak in executive summary” to a wide array of groups.

Baumhart Center director Seth Green, who moderated the panel discussion, noted that helping develop these four leadership characteristics are part of the center’s mission. “We are already planning events for fall 2018 that will help students and leaders develop these skills and accelerate their social impact,” he said.

Event photos

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

Do Well and Do Good

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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 at Loyola University Chicago’s Quinlan School of Business is seeking nominees for its 25th annual Illinois Family Business of the Year Awards

The awards recognize companies that have demonstrated a 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 award categories are:

  • Small Family Business Award (companies with fewer than 50 employees)
  • Medium Family Business Award (50 to 250 employees)
  • Large Family Business Award (more than 250 employees)
  • Community Service Award
  • 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 11, 2018, 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.

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 Thursday, November 15, 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. 

This year's sponsors include BMO Harris Bank, Katten Muchin Rosenman LLP, Wipfli LLP, Hoopis Group–A member of the MassMutual Financial Group, MB Financial Bank, Oxford Financial Group, Perkins Coie LLP, U.S. Bank–The Private Client Reserve, and Abbot Downing.

For more information on the Illinois Family Business of the Year Awards, visit LUC.edu/Quinlan/fbc.

Student research on the portrayal of women accepted at two marketing conferences


Quinlan senior Anna Pristach researched the portrayal of women's bodies by fast fashion brands.

By Foram Patel | Student Reporter

Quinlan senior Anna Pristach is passionate about promoting body image positivity, or being self-accepting, comfortable, and happy in one’s body.

During her Loyola experience, Pristach co-created the student organization BIEDA, or Body Image and Eating Disorder Awareness, to raise awareness and encourage people to think positively about their bodies. In three years, BIEDA has grown to 47 members on campus.

She also studied the portrayal of women’s bodies on the social media of fast fashion brands, such as Forever 21, H&M, and Zara, with the support of Quinlan Assistant Professor Jenna Drenten, PhD, and a Johnson Scholarship from Loyola’s Gannon Center for Women and Leadership. Pristach will present this research later this year at the Marketing Management Association Conference and the Marketing and Public Policy Conference.

Here, she shares her research, its importance, and how Quinlan has aided her success.

Tell us about your research.  

We know from research that traditional advertising can influence how women view their bodies. However, this research does not account for the popularity of social media among young adults today.

With the mentorship of Dr. Drenten, my research focused on exploring the representations of women’s bodies on Instagram, a visual social platform, for fast fashion brands in both Eastern and Western cultures. We wanted to see how women’s bodies are portrayed through social media marketing images targeted toward female consumers.

Our research indicated two distinct themes across the sample of nine brands:

  • Lack of diverse body types
    A lack of diversity exists among the female body types represented within branded fast fashion posts across cultures. Of the 900 images sampled, less than .05% featured plus-size or curvy models. We found that only four models of diverse female body types on a single Western-influenced brand.
  • Objectification and sexualization
    The second theme was that particularly among Western brands, the portrayal of female models’ bodies reinforce objectification and sexualization. Although Western-influenced brands, such as Forever 21, tend to be slightly more inclusive of diverse body types, the female models portrayed tend to be more sexualized in nature, whereas Eastern-influenced brands, such as Uniqlo, tend to display models more conservatively.

Why is this research important?

Our study suggests online platforms reproduce traditional objectifying and idealized standards for women’s bodies, which reinforces women’s internalization of these expectations. 

As social media advertising may eventually take over traditional media advertising, it’s important to be aware of the messages brands are sending to young consumers through their visual portrayals of the female body.

How has Loyola and Quinlan supported you in your endeavors?

I’m grateful for the support of both the Quinlan Marketing Department and the Gannon Center. In particular, my mentor, Dr. Drenten, has been a driving force behind my research.

In the classroom, I've learned a lot at Loyola than I perhaps would not have at a different institution that did not embody the Jesuit ideals and mission and that did not emphasize on a well-rounded education. This focus has taken my interests beyond the classroom, and manifested in opportunities like this Johnson Scholarship.

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

A supply chain success story

Supply chain scholar
Natalie Miknaitis won a $2,000 scholarship from the Council of Supply Chain Management Professionals.

With an undergraduate degree in English, Natalie Miknaitis found herself in unchartered waters in February 2011 when she began her MBA at Loyola’s Quinlan School of Business.

But the introductory classes in operations management struck a chord, and now, just a little more than a year later, Miknaitis, 24, has won the Future Supply Chain Stars graduate-level scholarship from the Council of Supply Chain Management Professionals.

To compete for the $2,000 award, Miknaitis submitted an essay that focused on the benefits of a “green” supply chain management—moving products from one place to the next in the most economical, environmentally friendly, and efficient way possible.

“The supply chain contains the greatest potential for sustainable change within a business since it manages many of the business processes that use natural resources and also because the nature of supply chains stretches beyond the company itself, allowing positive changes to be implemented with partnering suppliers,” her paper stated.

The essays were judged on several criteria, including coherence of arguments presented, evidence of critical thinking and analysis, and relevance and poignancy of topic, says Charles Slutz, chair of the Chicago CSCMP’s Education Committee, which bestowed the award.

Sustainability is a subject that is near and dear to Miknaitis’s heart. She researches sustainability issues outside of class and did an independent study of sustainability and operations management as part of her coursework last winter. She is also a huge proponent of green living.

“Every decision I make, I try to consider the impact that it has on the planet and other people,” Miknaitis says. “The reason I push this so frequently in my projects at the business school is that I think corporations and businesses are also duty-bound to preserve the planet.”

With the rise in fuel and gas prices and environmental regulations, the issue is gaining the attention of industry leaders.

“I think sustainability is crucial to a business’s survival,” Miknaitis says. “Addressing these issues and finding alternative solutions is really going to be an asset when it comes to competition.”

This is the third time in four years that a Loyola student has taken home the CSCMP award, says Maciek Nowak, PhD, director of Loyola’s Master of Science in Supply Chain Management program, which will be the only such accredited program in Illinois when it debuts this fall.

“Chicago is one of the premier international supply chain hubs, but there have been no formal supply chain management programs,” he says. “Loyola saw a vacuum in the supply chain world.”

Since announcing the program, the feedback from industry leaders in search of supply chain talent has been extremely positive, Nowak says.

After she receives her MBA with a concentration in operations management/sustainability in May and gets married in July, Miknaitis plans to look for a position in the supply chain field. With her scholarship—which includes a free, one-year membership in the CSCMP and distribution of her resume to all who attended the council’s spring seminar—she’s off to a great start.

Where we work

By the numbers

Quinlan students represent some of the largest companies in the world. In fact, of the 31 Fortune 500 companies based in Illinois, 28 have at least one employee who has earned or is earning a degree from our school. Here is just a small sample of where we work and what we do.

Investing time abroad

Investing time abroad

Business Brigades students Taylor Dahlgren and Cyryl Jakubik teach a workshop in Panama. 

Eight Loyola students recently traveled to Panama to help drive economic development in a rural community and improve the financial sustainability of businesses run by local families. The undergraduate students represented Loyola’s chapter of Business Brigades, which is part of Global Brigades, an international student-led organization that provides business consulting and strategic investment to support under-resourced microenterprises around the world.

The trip took place in January, with the volunteers providing educational, financial, and organizational resources to help community members develop new businesses or improve businesses they already run. The students met with families to learn about their business background, their challenges, and their ideas. The students then came up with a workshop that developed suggestions for helping the families improve business practices, such as customer service, marketing, and efficiency of operations.

For example, a family that raised chickens discovered that they were losing $75 a month because they hadn’t been accounting for all of the costs related to caring for the chickens. The students and the family then worked to develop different possibilities.

“Family members decide how they want to apply the information we share,” says Business Brigades Loyola chapter president Gabi Wilewska, a sophomore who is majoring in finance and international business. “A new Brigade from a different university arrives a few weeks after we leave and picks up where we left off, so they can help a family take the next step.”

Each Business Brigades volunteer also donates $100 to the community. Wilewska gave half of her donation to the bank to put toward loans to help community members set up or improve their businesses. The other half went into a savings account. A Brigades volunteer matches every dollar a community member saves.

Business Brigades came to campus in 2011, after Raveen Shah (BS ‘11) met one of the founders of Global Brigades and realized that the organization would fit well with Loyola’s focus on international and social justice initiatives. He organized the first trip to Panama last year. “We taught marketing and accounting techniques to make their shopkeeping businesses more competitive in the local area,” he says.

Shah, currently an MBA student, says the immersion experience is valuable for the Brigade students, some of whom have not traveled much.

Loyola’s chapter of Business Brigades is planning to take its next trip to Panama in January of 2013. The organization also is considering a visit to Honduras in May of that year.

Wilewska says it would be beneficial to have a business professional with “real-world knowledge,” and she encourages alumni who might be interested in participating to send an e-mail to loyolagbb@gmail.com.

Story courtesy of Loyola magazine (Spring 2012).

Birds of a feather

Quinlan alumni atop a 10th floor aerie in Chicago's Loop


Quinlan experts in their craft—both beer and business—enjoyed a Taste of Goose Island on Wednesday, Aug. 8, in Chicago's Loop.

In all, 53 alumni gathered atop the historic Helene Curtis Building overlooking the Chicago River for a feast that included Sofie-poached salmon, friseé salad with lemon-caper vinaigrette, and Sofie caramel apple tart, all paired with Goose Island Pere Jacques. A portion of the proceeds from this annual, end-of-summer networking opportunity went to support scholarships.

"It was a great night for alumni at a quintessential Chicago location—with the perfect combination of conversation, food, and drink," says Lauren McLean (MBA '12). "As a recent grad, I realize how proud I am of my school. And I'm not the only one. Everyone at the event was excited about the future of Quinlan."

The school's next big event will be Celebrating Excellence, a Sept. 15 gala at the Trump International Hotel and Tower. Registration is now open.

Are you a typical dude?

Zayer profile

Probably not. But most advertisers think differently.

It’s time for those advertisers to face reality, researchers say. In fact, some men will actually avoid ads that depict them in an unrealistic or unflattering light.

“There’s a misconception that men are always tough and that they are not impacted by these advertisements,” says Linda Tuncay Zayer, a Quinlan professor of marketing who co-authored the research with her colleague, Cele Otnes, of the University of Illinois. 

But what Zayer and Otnes found was that some men are offended by the hyper-masculine stereotypes portrayed in certain ads, while others say the ads can leave them feeling inadequate or vulnerable. So much so, Zayer says, that some men may ignore the ads altogether.

Zayer has been studying consumer behavior for more than a decade. But while scores of studies have been done on how women react to advertisements, few researchers have focused on men.

“I wanted to know how men respond to these idealized depictions of masculinity in advertising,” Zayer says.

So she and Otnes interviewed Gen-X males (men born between 1965 and 1981) to find out what they thought about print ads pulled from magazines such as Sports Illustrated, ESPN Magazine, Maxim, and Playboy. Many of the men said the ads were so unrealistic—Six-pack abs! Bikini models! Hot tubs!—that they simply ignored the message. And that can spell big trouble for companies.

“Advertisers need to be conscious of the images they’re putting out in the marketplace,” Zayer says, “because sometimes it can have a negative effect on men.” 

What can companies do to reach men?

“They really need to find positive messages of masculinity that resonate with the consumers,” Zayer says. “Something like fatherhood can be a really powerful message that connects with men.” 

Zayer recalls the Volkswagen commercial from 2011 in which a young boy, dressed as Darth Vader, tries to use “the Force” to start his dad’s car. After trying for a few seconds with no success, the boy suddenly gets the car to fire up—much to his amazement. The camera then cuts away to show the father inside the house, holding the car’s remote starter and winking at his wife.

That, Zayer says, is a great example of an advertiser moving beyond stereotypes.

“Men are multifaceted and fulfill lots of different roles,” she says. “So let’s see them in lots of different roles.”


Linda Tuncay Zayer

Hometown: Grew up in Northwest Indiana, now lives in Wicker Park

Professor at Quinlan since: 2005

Courses taught: Consumer behavior to graduate (MARK 467) and undergraduate students (MARK 310); research practicum seminar to business honors students (BHNR 353)

Quinlan Case Competition

10.08.2012—Monday marked the culmination of hours of work for the 17 student teams competing in the inaugural Quinlan Case Competition. More than 80 undergraduate business students and 24 alumni judges participated in the competition. Teams were challenged to take lessons from the classroom and apply them to a real-world business situation.

In this case: CEMEX, a Mexican cement company that dedicates a portion of its business to helping lower income families build their homes. Among the recommendations: Take the company global or turn its social responsibility entity into a not-for-profit.

The following teams were awarded cash prizes for their standout suggestions:

First Place


Davi Aragao
Steven Koblinski
Austin Nugent
Robert Ruder
John Schmidt

Second Place

Team Sigma Alpha Epsilon

James Green
Rob Jackson
Stew Lamke
Mike Miller

Third Place

Team Madelaine and Company

Madelaine L'Esperance
Dilraj Sekhon
Harris Shaikh


Lawrence Metzger Award for Excellence

Given to the highest scoring team made up of all first-year or second-year students.

Team Prestigious Regis:
Jakub Grab-Lucki
Jacob Guise
Danica Villanueva
Anthony Galan

Many thanks to all the faculty and staff who made the first Quinlan Case Competition a success (especially Alex See).

Why attack ads work


If you’re sick of all those negative political ads that run on television before Election Day, well, you’re out of luck. Those ads—which many people say they hate—run for a reason: They work.

So says Joan Phillips, a Quinlan professor of marketing who has researched how voters react to negative political ads. But if so many people say they can’t stand the ads, why are they so effective?

It’s the same reason why people are more likely to watch the weather when a hurricane is coming than when it’s sunny and 70 degrees outside, Phillips says.

“We pay more attention to negative information,” she says. “It’s more salient, it scares us, and we’re more likely to remember it.”

To see why negative ads work, Phillips and two colleagues developed a field study in 2004 using real TV advertisements from the George W. Bush and John Kerry presidential election. The researchers asked college students to rate their level of support for the candidates on a seven-point scale, from “definitely Bush” to “definitely Kerry” (with five points in between).

They then showed the students one of four political ads and asked them to re-rate their levels of support. Roughly 14 percent of the students said the attack on their candidate made them support him even more, the researchers found. But an equal percentage of students said the advertisement weakened their support and caused them to move closer to the opponent—the one who ran the negative ad.

Although no one jumped from “definitely Bush” to “definitely Kerry,” some students who were leaning toward one candidate did switch to the other side. And in a tightly contested race, like this year’s presidential election, getting even a few people to change their vote can make all the difference in the world.

“That’s a huge, huge gain for a candidate,” Phillips says.

Negative ads tend to work best when people are passionate about the campaign, such as a presidential election where the stakes are high, Phillips says. The ads, however, become less effective as you move down the political ladder and into smaller races.

“The voter may just discount it,” she says. “They’ll think: ‘I don’t know who to believe, I don’t care, it doesn’t really matter to me.’ ”

So what’s the bottom line?

 “We’re not saying positive ads aren’t good,” Phillips says. “It’s just that negative ads are effective.”

  mug of Quinlan professor Joan Phillips

Joan Phillips

 Hometown: Grew up in New York, now lives in the Gold Coast

 Professor at Quinlan since: 2008

 Courses taught: Marketing strategies to undergraduate students (MARK 390) and research methods in marketing to graduate students (MARK 461); also teaches two courses for Quinlan’s Executive MBA program

Introducing Chicago's first Supply and Value Chain Center

Supply and Value Chain Center


At a conference today, Loyola's Quinlan School of Business announced the launch of the city's first and only Supply and Value Chain Center

The center, to be located at Loyola's Water Tower Campus (820 N. Michigan Avenue), will provide a centralized venue for academics and industry leaders alike looking to network, share their insights, and produce cutting-edge research with immediate, practical implications for the discipline of supply and value chain management. 

Offering strategic alignment with Mayor Rahm Emanuel's citywide initiative, the center fills a critical gap for Chicago as an international hub for transportation, distribution, and logistics. 

"We see this as a niche for our school," says Dean Kathleen A. Getz. "No other educational institute in the area specializes in supply and value chain research, education, and practice. We hope to be a resource for other academic leaders as well as our growing list of professional partners." 

The announcement came at the culmination of Quinlan's daylong symposium, the State of Chicago in the Global Supply Chain, which featured a keynote address by Rosemarie Andolino, of the Chicago Department of Aviation. Other guests included John Caltagirone, of NTT Data; Joe Shacter, of the Illinois Department of Transportation; Ann Drake, of DSC Logistics; and, Craig Espevik, of Yaskawa. 

The center builds upon the distinction of Quinlan as the only accredited school in Illinois to offer a Master of Science in Supply Chain Management, a program that launched earlier this fall.

Human resources: 7 tips for hanging on to your top talent

Dow Scott Research

Economic recovery usually represents a positive: Manufacturers step up production, companies see their profits rise, and more people start landing jobs. But for human resource professionals, that can be a double-edged sword.

“The one thing that’s keeping chief HR officers awake at night is trying to retain key employees as the economy improves,” says Dow Scott, PhD, human resources professor at Loyola’s Quinlan School of Business. “This is particularly true of industries that don’t recover as quickly. The ones that come out of the recession the quickest can grab up all the talent.”

This challenge prompted Scott, along with Tom McMullen and Mark Royal of the Hay Group management-consulting firm, to examine how some organizations retain their top talent—an effort that greatly impacts the bottom line. 

“It generally costs organizations 200 percent of an employee’s base salary to find a suitable replacement,” Scott says. “But for high-talent individuals, the costs are almost impossible to calculate because disruption in those jobs can have a tremendous impact on the organization.”

To determine best practices, what causes top talent to quit, and incentives for keeping the best and brightest on board, Scott and his team surveyed 600 reward professionals, WorldatWork Association members, and Hay Group registered website users. 

Based on theses responses, the team came up with the following list of recommendations for companies looking to hang on to high-performing players:

  • Develop clarity around what defines “key employees” and identify the specific employees you consider top talent.
  • Have a plan for developing and managing key employees.
  • Ensure that the organization’s reward system is relevant, differentiated, and fair.
  • Have development and succession planning processes in place for each key employee.
  • Keep key employees apprised of their development and advancement opportunities.
  • Monitor voluntary turnover among key employees to understand why they leave.
  • Put counteroffer policies in place and identify those individuals or positions where counteroffers will be made.

The team presented these findings at a Nov. 1 conference at Loyola’s Water Tower Campus. The work will be published soon in WorldatWork Journal.

Dow Scott

Dow Scott

Hometown: Grew up in and around the Nez Perce National Forest in Idaho

Professor at Quinlan since: 1996

Courses taught: Compensation, Incentive Pay and Employee Benefits, Human Resource Development, and Human Resource Management

Quinlan’s Day of Service

Day of Service

By Ashton Mithchell
Inside Loyola

Saturday, November 10, marked the first-ever Day of Service for the Quinlan School of Business. More than 40 undergraduate and graduate students, faculty, and staff came together to volunteer at A Safe Haven Foundation, a shelter program with 16 locations around Chicago, to help those who have been homeless find jobs and housing.

Brian Rowland (BBA ’89) and Neli Vazquez-Rowland (BA ’85) started A Safe Haven Foundation in 1994. They developed a holistic program to serve the needs of those recovering from addiction and those who have fallen into homelessness.

Alex See, student activities coordinator for the Quinlan School of Business, co-organized the event along with Mark Law, academic adviser in the graduate programs office, with the support of Quinlan Dean Kathleen A. Getz.

See says partnering with A Safe Haven was a natural fit due to the founders’ connection to the University.

“A Safe Haven is a leader in social enterprise, and it has a strong business model that has attracted attention locally and as far away as China,” he says.

See also noted that November was the perfect time to hold the service event because of Ignatian Heritage Month.

“We are proud of our Jesuit heritage and wanted a way to celebrate our commitment to service, values, and responsible leadership,” he says.

During the Day of Service, volunteers worked side by side with people who had benefited from A Safe Haven, planting tulips for troops, cleaning out the organic garden bed, and cataloging old files.

“Their stories of how their lives were impacted by A Safe Haven were touching and inspiring,” See says. “The experience also reminds us that everyone can make a difference. Neli and Brian were successful in the financial field; they saw a need in the community and decided to take action.”

The Rowlands see drug addiction as something the country needs to shift its perception of. Because users, statistically speaking, go through detox six times a year, there is often no type of aftercare offered, and most addicts end up back on the street. The program at A Safe Haven is designed to capture addicts before they can derail from recovery. The guiding principles of the program teach them skills to cope with addiction so they can sustain a livelihood and avoid falling back into homelessness.

The Rowland’s mission seems to be working. About 80 percent of those in A Safe Haven’s training program secure job placements, which gives them a shot at building a solid foundation to support their recovery and establish an independent living situation.

Carly Stevens, 19, business major, says the Day of Service was eye opening.

“I would participate in this event again and really encourage others to help this awesome organization,” she says. “I enjoyed myself. I like doing service work, and this organization in particular was for a really good cause.”

For more information on A Safe Haven and programs available for the homeless, underserved, and veterans, visit ASafeHaven.org.

$5M gift leads to new Center for Social Enterprise and Responsibility

By Akanksha Jayanthi
Inside Loyola

An anonymous donor has given $5 million to the social enterprise and responsibility initiative at Loyola's Quinlan School of Business. Funds will be used to support the new Raymond C. Baumhart, S.J., Center for Social Enterprise and Responsibility.

The Baumhart Center will provide faculty, staff, students, and alumni with opportunities for growth—including research, community outreach, and professional development—according to Kathleen A. Getz, Quinlan’s dean.

Social enterprise and responsibility is a burgeoning field in business, with companies now seeing it as vital to both the community and the bottom line.

“Over the past 20 years, there has been a real growth and appreciation that business ought to operate with a sense of appreciation and social responsibility,” says Timothy O’Connell, professor of business ethics at Quinlan.

O’Connell says social responsibility involves making sure all the stakeholders in a business are taken care of, not just the investors. These stakeholders include the employees, customers, suppliers, and financiers. Social enterprise refers to businesses whose central purpose is to help others.

“The second step beyond social responsibility involves bringing the skills of business to the organizations that explicitly are there to do good for society,” O’Connell says. “We have core competencies in the business school that could be particularly beneficial to nonprofits.”

Getz says the Baumhart Center exemplifies what Loyola stands for as a university.

“When you think about transformative education and the Jesuit approach to education, the words social justice, equality, responsibility, and community service immediately come to mind,” she says. “That’s what this is about.”

Getz says that the $5 million gift itself is a testament to the school’s belief that business can be a force for good.

“We couldn’t be doing this without our donors,” Getz says. “It shows they believe in what we are doing here. They believe in our community and want to make the future of this school even brighter. They believe in the students and want to support them.”

Per request of the anonymous donor, the Baumhart Center is named after the former dean of Loyola’s business school and former president of the University, Raymond C. Baumhart, S.J. Baumhart is one of the country’s leading business ethics scholars.

The announcement of the Baumhart Center comes just a month after Quinlan launched a Supply and Value Chain Center, the first in Chicago.

Getz says the generosity from the donors and their commitment to this school will continue to benefit and transform Loyola.

“The response has been overwhelming,” she says, “and the momentum is building.”

Master of wine online

Master of wine online

Winestyr.com co-founder John Wilson (right) works with chief technology officer Mark Glenn at the company's offices.

Buying a nice bottle of wine can be intimidating.

There are so many options—Cabernet, Chardonnay, Riesling, the list goes on and on—that people often get overwhelmed and simply give up. Who needs to worry about all that fancy wine stuff when you can just grab some beer and call it a night?

Well, thanks to a Quinlan graduate, buying quality wine just got a whole lot easier.

John Wilson (JD/MBA, 2009) and his brother Bob launched Winestyr.com in January 2012 to help folks navigate the tricky world of wine. The Chicago-based company sells wines from more than 40 small wineries around the United States, giving people access to top-notch wines that they can’t find at the corner market.

“Every single wine on our website is excellent,” Wilson said, adding that everything they offer is chosen by his brother (a certified wine specialist) and another member of the Winestyr team who has competed in international wine tastings.

But what really sets Winestyr (pronounced wine-ster) apart is how it connects buyers with boutique wineries around the country—wineries that until recently had no good way to sell their wines directly to consumers who live in other states.

For decades, wineries had to go through a three-tier sales system: They made the wine, then sold it to a wholesaler, who sold it to a retailer, who—finally—sold it to consumers. Wineries often made little profit from this setup, Wilson said, and many were locked out of the system entirely.

A 2005 U.S. Supreme Court decision changed all that. Forty states now allow direct-to-consumer wine sales. But as is often the case with liquor laws, the regulations are complicated and vary from state to state.

So Wilson set out to make sense of all the rules, studying statutes to find out which wineries can sell to certain states and ZIP codes—in essence becoming an expert in direct-to-consumer wine law.

“There are only a handful of people in the country that know this stuff,” he said, “and I’m one of them.”

Winestyr also stands out in how it pitches its wines to people. Gone are the snooty reviews that make little sense to the average drinker. In their place are suggestions for which wines to buy for certain occasions: For instance, buy this wine as a gift to impress your boss. Or buy this wine to drink with spicy foods or for a girls’ night in.

When Winestyr launched in early 2012, it was set up as a daily deals site. But by the end of the year, the site switched to a direct marketplace that lets wineries and their customers bypass the middleman. So far, Winestyr’s new formula is paying off.

"We have grown significantly over the course of 2013 and just finished a very strong fourth quarter," Wilson said. "Growth has been solid."

The wineries are loving the new setup too.

“We had one winery tell us they sold more wine in two days on our website than they had sold in the six months before that—from all their sales, not just from us,” he said.

So what’s next for Wilson and Winestyr?

The company plans to add more wineries to the site and create a section for user reviews and suggestions. They also plan to unveil a wine quiz that will help first time users get started picking their wines. As for Wilson, he and his wife just had their first child, and he’s looking forward to spending time with his new son.

Now that's an occasion worth celebrating.

Baptism by hire

Winter Accounting Program

Quinlan launches accounting internship during tax season

Starting next spring, 19 Quinlan students will hit the ground running, working at some of Chicago's biggest accounting firms—right at the peak of tax season. The program, a collaboration between Quinlan's Accounting and Business Career Services departments, will be held January through mid April.

Because of the heavy workload during this time, or what is known as "busy season" to tax and audit professionals, students typically take the spring semester off. But for those on the fast-track to earning the 150 credit hours needed to take the Certified Public Accounting (CPA) exam, that simply isn't an option.

Quinlan’s new program eliminates that dilemma, allowing students to remain in school part time by offering six credit hours for ACCT350 (Accounting Internship) and three credit hours for a condensed version of ACCT308 (Accounting Information Systems).

Alyson Ryan, a former KPMG recruiter who now heads up Business Career Services, sat down to discuss the program's specifics. Here is what she had to say.

Why did Quinlan launch this program?
We want more of our students to intern during the busy season—the experience is better, and they earn and learn more. They get a true picture of what it's like to work in public accounting. Our location means that students do not have to relocate during the school year to work busy-season internships. We knew if we launched this program, more firms would consider Quinlan students. Dean Getz was supportive. Professors Brian Stanko and Tom Zeller made the program work from the academic side by allowing students to register for ACCT350 to get six credit hours for the internship and creating the condensed version of ACCT308 to allow students this experience and the opportunity to earn nine credits.

What companies are participating?
Firms interviewing on campus include Deloitte, Grant Thornton, KPMG, McGladrey, PwC, and WTAS. CliftonLarsonAllen, Crowe Horwath, and Steinberg Advisors have internships posted in RamblerLink.

When does it run?
Most interns start working full-time in early January 2014. Firms have various end dates, usually mid-March to mid-April.

What kind of work will students be doing?

Interns are typically hired into either the audit or tax practices. Interns during busy season do the same entry-level work as first-year associates.

What are the requirements?
Firms usually recruit about 10 months in advance for winter internships. Students should be earning their 150 credit hours by December 2014 or May 2015 to work as interns during the 2014 busy season. Firms require that applicants be accounting majors planning to sit for the CPA exam, and the GPA minimums range from 3.0 to 3.3.

Please contact Business Career Services for more information. 

Top 3 part-time MBA in Chicago

Quinlan jumps 16 spots in rankings

The part-time MBA at Loyola's Quinlan School of Business has jumped 16 spots in the latest round of rankings from U.S. News & World Report. For 2014, Quinlan comes in at No. 43 out of 325 programs surveyed, up from No. 59 a year prior, placing it in the nation's top 50 and Chicago's top 3.

Meanwhile, Quinlan's graduate marketing program climbed six spots, up to No. 18, as its graduate accounting program rose three spots, up to No. 24.

For a full list of rankings from Quinlan, click here.

Vefa Tarhan making waves in financial world

Vefa Tarhan

At Loyola University Chicago's Quinlan School of Business, Professor Vefa Tarhan is known primarily as a corporate finance specialist. But in his native Turkey, he has achieved something of a rock star status. During visits to the country, where his expertise places him frequently in the media, Tarhan is often approached on the street, at airports, or in restaurants.

And word is spreading.

In early March, Tarhan was the featured speaker at the British House of Commons, where he delivered a 90-minute address, “The Turkish Economy at the Crossroads: Its Recent Past and Future Vulnerabilities,” to an audience that included the Labour Party, the shadow minister of the economy, think-tank leaders, economists, and the media. Organized by the Labour Friends of Turkey and the Centre for Policy Analysis and Research on Turkey, the event gave Tarhan an opportunity to speak not only about the Turkish economy—the world's fastest growing, just after China’s—but also about what other countries still face after the mortgage crisis of 2007.

“People want to know, why is it taking the world’s economies this long to recover?” says Tarhan, who attributes ongoing challenges to corporate fear over global instability. “It’s what’s preventing firms all over the world from making investments. If you don’t build factories, you don’t hire people—and the economy doesn’t improve.”

Tarhan addressed this issue further at the London School of Economics, during a talk on “Global Uncertainties and the Future of the Euro.”

But his views aren't always met with delight. In fact, he has gained notoriety for his sometimes controversial arguments in favor of dismantling the eurozone (with each of the 17 eurozone countries returning to their former currencies) because of what he sees as systemic flaws and the constant threat of countries in need of rescue—Cyprus being the latest.

“The system is bound to collapse because it wasn’t designed correctly, and the negatives of the euro system far outweigh the benefits,” he says. “They’re better off saying, ‘We made a mistake’—and the sooner the better.”

Still, Tarhan, who was honored this year with the Scientist with a Strategic Vision award from the Turkish Asian Center for Strategic Studies, prefers solutions to criticisms.

It’s that sort of creative thinking that has made him an in-demand speaker, news source, and adviser to Turkish leaders, which pays off at home as well.

“I bring back the preparation I make for a speech and use it as well in my teaching and research,” he says, “thereby advancing the cause of Quinlan.”

Recognizing student scholars

Scholarship Dinner

On Wednesday, March 27, 2013, the Quinlan School of Business hosted its second annual Scholarship Dinner at Loyola's Water Tower Campus. More than 100 students, faculty, alumni, and donors were in attendance. Dean Kathleen A. Getz opened the evening with a welcome to the "Quinlan family" and spoke of the enriched student experience made possible by the school's generous benefactors.

Later, Professor Tassos Malliaris introduced a video highlighting the scholarship recipients and recognized recently retired Professor John O' Malley Sr., for whom the general endowed business scholarship fund has been renamed. Bill Kistner (BBA '72) delivered the closing remarks, expressing his hope that these same students would be able to return to this event later in their lives as alumni continuing the tradition of scholarship support.

11th chapter in Dean's Speaker Series tackles social concerns

DSS 2013

On April 8, the Quinlan community gathered for the 11th chapter in the biannual Dean’s Speaker Series, which focused on building bridges between the public, private, and nonprofit sectors to address social concerns. With Dean Kathleen A. Getz serving as moderator, here is what our panel of experts had to say.

"What we're facing is going to take all of us to introduce a paradigm shift."
—Neli Vazquez-Rowland, president of A Safe Haven

"Developing human capital feeds education. We are not educators, but we want to have an impact."
—Robert Parkinson Jr., CEO of Baxter International

"None of us can get everything we want, but we can all get something if we work together."
—Patricia Van Pelt, Illinois state senator

The next Dean's Speaker Series will take place this fall. For pictures from the latest gathering, which attracted nearly 100 guests to the University Club of Chicago, click here.

'Best paper' award a sweet victory for Suzy Fox

Winning a “best paper” award from a professional journal is an achievement for any researcher. But for Suzy Fox, professor of human resources and employee relations in Loyola’s Quinlan School of Business (as well as colleague Paul E. Spector and three others who recently earned that distinction), the victory is particularly sweet. Their paper, which challenged conventional thinking in the field of voluntary work behavior, was submitted to several journals over five years before it was finally published.

So having the Journal of Occupational and Organizational Psychology single it out as its best paper of 2012 has been especially gratifying.

“The award is a validation that the top people in the field recognized this as an important contribution,” Fox says. 

The paper, titled “The Deviant Citizen: Measuring Potential Positive Relations Between Counterproductive Work Behavior and Organizational Citizenship Behavior,” calls long-held assumptions and empirical findings into question. For 15 years, researchers—including Fox and Spector themselves —have found that counterproductive work behavior (which harms or intends to harm organizations) and organizational citizenship behavior (which helps or intends to help organizations) are inversely related, so that a person who demonstrates more counterproductive work behavior shows less organizational citizenship behavior.

Fox’s team’s paper refutes that model, in part because they found that the scales typically used to measure such behaviors are flawed—and that work behavior itself is more complex. After devising a new organizational citizenship behavior scale that measures purely positive citizenship behaviors (and no counterproductive work behavior, as previous ones did), and testing it in several studies, they turned previous research on its head.

“What we found, to our surprise, was that when we used really distinct scales, counterproductive work behavior and organizational citizenship behavior were often positively related,” she says.

As an example, she cites a stressful work environment that might prompt an employee to put in extra hours but then also feel anger toward coworkers who don’t do the same.

Now, with an award under her belt and her new scale in use by others, Fox is philosophical about the sometimes frustrating journey to getting research published. 

“It’s the typical process for critical or innovative work,” she says. “And the result is an improved paper.”

The businessman's survival guide

Abol Profile

With all the change in today's world, businesses must adapt quickly—or be doomed to fail.

That was the resounding salvo of a keynote address delivered by Abol Jalilvand to the Financial Executive Institute’s Chicago Chapter in March.

Jalilvand, Ralph Marotta Professor of Free Enterprise and Professor of Finance at Loyola’s Quinlan School of Business, has developed some strategies to guide businesses toward success. His talk, “Flexibility, Innovation Strategy, and Performance under Turbulent Environments: Evidence from a Multi-Industry Sample”—based on research he has conducted with Quinlan Associate Professor of Management Sung Min Kim—underscores that few companies are highly profitable, only a small fraction of firms (just 0.1 percent in a sample of six million) live to age 40, and many industries are in need of major restructuring if they want to prosper.

“This requires three key elements of leadership,” Jalilvand says. “1) Strong and pro-innovation management, 2) a balanced financial strategy, and 3) the ability to effectively manage both in a turbulent environment.”

In an effort to provide organizations with a “how-to” for responding to changing environments, Jalilvand and Kim have developed a model for corporate adaptability. Successful firms, they say, are those that simultaneously pursue investments in core efficiencies and future growth opportunities by maintaining a match between their slack resources type and the nature of investment opportunities they are facing.

Jalilvand and Kim’s research is unusual in that it brings together principles from both finance and strategy. And it has spurred Jalilvand to develop a new Quinlan course, Financial Strategy and Strategic Change, which will be offered next spring. 

“What we’re trying to do is develop some guidelines so we can look at an industry and highlight how it can improve strategic and financial decision making to react more smoothly and appropriately to change,” Jalilvand says. “We predict as more adaptable companies achieve higher profitability over time, others will be pressured to better manage the balance between their resources and investment strategies to become more adaptable and responsive to the changing environments.”

Managing disease—from your smartphone

Diabetic app

What inspires a great business idea? For many entrepreneurs, it starts with wanting to make life a little easier.

That was the case for Brian Bowden (BBA ’11) and James Fleischmann (BBA ’11), who have come up with a smartphone app that helps diabetics monitor their blood glucose levels and administer insulin. 

A diabetic himself, Bowden knows the awkwardness of having to sneak off to give himself an insulin shot. Diabetics who rely on insulin pumps (rather than injections) face a similar quandary: remove their pumps now and administer higher doses of insulin, or wait—sometimes longer than recommended—until they’re in private? 

“We’re trying to eliminate that type of dilemma,” says Bowden, who sparked the idea with Fleischmann during a capstone course at Quinlan. 

Once fully developed, the app, dubbed DAFFLE (Diabetes Application for Furthering Life Expectancy), will be downloadable to any smartphone, which will then communicate with a diabetic’s glucose insulin pump to monitor and dose insulin levels in real time.

Targeting a potential market of 2.5 million insulin-pump users in the US, the app acts as an interface for insulin-pump users and is the first of many disease-management concepts that Bowden and Fleischmann hope to develop through Health Application Technologies Inc. (HAppTech), the company they incorporated in November 2011.

Now the two are working on a prototype (the details of which are being closely guarded) to show to potential investors. The next step will be marketing the software to insulin-pump manufacturers, which Fleischmann says is the fastest way to get it into the hands of consumers.

As the plan moves forward, the two entrepreneurs say they can see how everything they learned at Quinlan—accounting, finance, marketing, management, economics—is coming together. 

“We don’t have money for consultants,” Bowden says. “We couldn’t have gotten where we are without the help of everyone at Loyola.”

The main source of that support, Clinical Professor Leonard Gingerella, couldn’t be prouder. 

“It’s the goal of the Quinlan entrepreneurship program to prepare students to enter the business world either as a new business owner or as a corporate employee,” Gingerella says. “Entrepreneurial thinking is what every business is looking for today. Innovation, problem-solving, and the insight of how business really works are more valuable than a single academic discipline.”

Ban telecommuting?

Arup Varma

There’s a new sheriff in town (or, why change isn’t always good, or necessary)

By: Arup Varma, professor of human resources

Recently, the CEO of Yahoo! stirred up a lot of controversy by banning telecommuting and mandating that all employees show up at work.

As one might expect, almost immediately, there has been strong reaction on both sides of the issue. There are those who strongly support this decision, arguing that face-to-face interactions with colleagues foster a sense of community and help generate ideas—something that cannot happen when people work remotely. While this seems like a valid reason to have people work out of an office (i.e., the same office), this argument suffers from some rather obvious flaws.

First, by definition, a cohesive group comprises a small number of people. So, while the argument of the importance of face-to-face interaction may make sense for small companies, it really does not hold up when we talk about large companies. I mean, how many colleagues do most of us really interact with, and know well enough, to hold spirited debates?

Next, technology has fundamentally changed the way we interact with each other. It is becoming increasingly common for colleagues sitting in adjacent cubicles to e-mail each other (or send an SMS, etc.) instead of actually getting up and walking over to each other’s desks. So, why not just include those who are sitting on a different floor, or at home for that matter, in such communication? Further, what about companies that have more than one office—perhaps in the same city or in other cities? For that matter, what about companies that operate all over the globe? How exactly are companies going to promote informal interactions between employees in different countries in the way it is being argued (at the watercooler, at the coffee machine, and so on)?

One final argument that is being presented against allowing remote work is that many employees take advantage of this policy and are not as productive as those who are sitting in an office. As someone who studies performance management and other HR topics, I find this argument rather weak. If people were productive simply because they were at work, then most companies would be doing fabulously well and economies around the world would be growing at incredible rates. After all, very few companies actually allow remote work and only individuals in certain types of jobs lend themselves to working remotely.

The solution is not to herd everyone into the office; instead, companies need effective performance management systems that help managers set specific goals with deadlines, clearly communicate expectations and standards, and reward good work accordingly. Of course, this means companies would need excellent (or at least good) managers who truly understand what it takes to manage people.

Of course, as some have argued, the requirement that everyone work from a designated office might simply be a way to reduce headcount, since many people who have been working remotely would find it very difficult to change their lifestyles overnight and would leave the company voluntarily.

Whatever be the real reason behind this announcement, what is true is that this is a common occurrence—almost every time a new leader is brought in to turn a company around, he or she tries to shake things up. Sometimes, it is done just to send a message that there is a “new sheriff in town, and things will be different henceforth.” Other times, the change may be needed because a particular product line has run its course or a strategy isn’t serving the company well. But anytime the proposed change involves the company’s employees, it behooves the leader to tread carefully, especially when it is likely to affect thousands of employees. Not only do such changes negatively impact the productivity of those directly affected, the potential spillover effect on the other employees should not be discounted (What will he/she change next? How will it affect what I do?).

This article first appeared in the February 2013 journal of the National HRD, India's premier association for human resource professionals.

Student lands 'No. 1 internship'

Google Internship

Seek and ye shall find. That was Andrew Fenske's objective—and it's landed him a summer stint at Google, rated the best place to intern for 2013 by Glassdoor.com

So how did this senior marketing major make it to the top of the company's search?

"I did all this research and ended up making a study guide about their CEO, their products, and their services," Fenske says, adding that he also crafted a cover letter using pictures to gain attention.

Piqued with interest, the company was just as unconventional in its approach, asking him questions like "What is the current soundtrack of your life?" during the interview process.

They liked what they heard.

Fast-forward four months later, and Fenske will be working as an associate account strategist in the company's Ann Arbor, Michigan, office.

So what exactly does the job entail?

"I will act as a middleman between Google and their clients, helping them use services, such as AdWords and Analytics, to maximize their business output," says Fenske, a cross country, track, and field star who's already won numerous accolades for being quick on his feet.

Now that's an optimal match.

Connect with Andrew on LinkedIn.

Oiling the wheels


Three Quinlan students struck black gold early this summer while participating in the annual BP Sophomore Experience.

The five-day, all-expenses-paid program acquaints students with the energy industry through lectures, simulations, games, and case studies. This year’s Experience was held June 10–14 in Chicago and attracted 30 students from top national universities, including Princeton and NYU-Stern.

The three from Quinlan—Adam Jaber, Hans Hvide, and Daniel Brasic—represented Chicago particularly well, earning first-place spots in two out of six competitions.

“The best activities were definitely the trading simulations and experimenting with commodity price differentials,” says Hvide, a finance and information systems major. “These simulations are used to train real traders, so they proved to be very realistic.”

But it wasn’t all work and no play. On the first day, students went to a Cubs game. On the final day, they met Tim Morehouse, an Olympic silver medalist in fencing. And every evening, they enjoyed a meal together.

Jaber’s advice for students next year?

“Apply. BP needs all kinds of people—not just engineers—and every dinner was a chance to make a connection.”

A student's dozen

Quinlan Ambassadors

Senior Sadia Anees is one of 12 students chosen to serve as a Quinlan Ambassador this fall.

Quinlan students soon will have another place to turn when they need advice—to a newly formed fleet of “Quinlan Ambassadors.”

A dozen students in all—sophomores through seniors, representing eight undergraduate majors—were chosen for the program. Starting this fall, each will serve as a resource for other students as well as a representative for the school. 

“We want to give students more of a voice,” says Elizabeth Globke, assistant director for employer relations and special events, who developed the program with Quinlan’s student services coordinator, Alex See.

See says he hopes the program will “build community and engage other students.”

Whether it’s about studying abroad or getting an internship, the ambassadors will offer “real, true advice,” he says.

Among a host of other duties, the ambassadors will help coordinate events, gather student feedback, and promote school services.

Sadia Anees, a senior information systems major, has signed on to be one of the ambassadors. As an intern with Quinlan’s Family Business Center, she’s very familiar with the school.

“Quinlan has so much to offer, and I hope this program will help students use those resources,” she says.

To learn more about the Quinlan Ambassadors, visit their home page.

6 places you can expect to see our ambassadors this semester

Water Tower Campus Block Party August 29
Quinlan Transfer Welcome September 3
Career Week September 16-20
Career Fair September 24
Quinlan Case Competition October 7
A Quinlan Ambassadors-planned event November

Step in, stand out

Career Week

Do more than find a job­—start your career.

Quinlan will lay out all the tools you'll need during Career Week, September 16–20. The events, ranging from résumé tune-ups to dining etiquette, are designed to help you put your best foot forward.

But Career Week is not all about the training and the seminars. It’s also the perfect opportunity to network with employers and alumni, including members of the Loyola Women’s Leadership Council.

“It’s still a tough market out there, and networking is extremely important these days,” says Carly Vadnais, a recruiter for McTigue Financial Group. “You can have a wonderful standout résumé, but knowing people within the company you’re interested in can help you stand out in an even greater positive light.”

McTigue Financial Group will also be conducting on-campus interviews on October 1.

To see a complete list of Career Week events and to RSVP, visit RamblerLink.


Quinlan Career Week Events


Keynote speaker Laureen Cassidy
Reception with Women's Leadership Council


Real Time with Employers
Polish Your Professional Image


Career Fair Prep Workshop
Extended walk-in hours with Business Career Services 
Quinlan Etiquette Dinner


Real Time with Alumni
Positioning Yourself for Success (speed networking)


Emerging Careers: Doing Business with a Social Mission
Extended walk-in hours with Business Career Services

Go global: Vietnam, Cambodia, Thailand, and Greece

Graduate Study Abroad

Angkor Temple, in Cambodia

Be a traveler, not a tourist.

Through Quinlan’s graduate study abroad programs, you will do more than just see the world—you will learn how to take an active role in it. Led by some of Quinlan’s top instructors, these short-term study abroad programs will teach global business concepts in real time.

Learn how to make your debut on the global stage by visiting the graduate study abroad page for more information. 

2014 graduate study abroad courses

Course Location Professor Term Dates
MARK 561: Comparative Consumer 
Behavior in Emerging Southeast Asia
Clifford Shultz Winter January 2–12
MARK 569 Special Topic: European Union Marketing in Crisis Athens Eve Geroulis Spring March 2–8

A special case (competition)

Case Competition 2013

Team Zeitgeist, first place winners of the 2013 Quinlan Case Competition

Eighteen teems, 20 judges, one real-world business issue.

On Monday, October 7, the Quinlan School of Business hosted the Second Annual Quinlan Case Competition. Seventy-seven undergraduate business students and 20 alumni judges participated. The competition was the culmination of hours of work, challenging students to demonstrate what they have learned in the classroom and apply it to a real-world business situation. 

Congratulations to our top teams!

Place Team Members
First Zeitgeist Selay Demir
Emily Edkins
Katherine Geusz
Madelaine L'Esperance
Second Sigma Alpha Epsilon James Green 
Stewart Lamke 
Mike Miller
Third Team Capitalism Harry Hutchins
Paul Lawate
Ryan Shreibak

Lawrence Metzger
Award for Excellence*

BA Squad Adam Hepp
Garrett Larsen
Hannah Sawyer 

*Given to the highest scoring team made up of all first-year or second-year students. 


Continuing construction

Construction Update

Demolition at 14–16 E. Pearson began this summer and will continue until November.

The final phase of demolition continues, as Quinlan lays plans for a new building. The remaining demolition at 14–16 E. Pearson will continue by hand.

Due to an unforeseen mechanical failure with the drilling rig, construction will take place on Saturdays from 8 a.m.–8 p.m. throughout the month of October to ensure that the team remains on schedule.

After November 1, the south parking lane will closed to the public and foot traffic will be restricted to the north side. Structural work is also scheduled to begin in November, with sheet piling beginning at Chestnut and moving south. The construction team will push the sheets into the ground to minimize vibration.

Enron reporter coming to speak

Bethany McLean story

Bethany McLean, the Fortune magazine reporter who broke the Enron scandal, will be speaking at the Sofitel (20 E. Chestnut St.) this Thursday, Nov. 7, at 5:30 p.m.

McLean joined Fortune’s reporting staff in 1995 and wrote the story “Is Enron Overpriced?” in March 2001. She was the first reporter to question the corporation’s business practices, and the more McLean investigated, the further Enron’s ethical façade decayed.

The Smartest Guys in the Room, written two years later with coauthor Peter Elkind, recounted the 2001 collapse of Enron, one of the largest business scandals in American history. In 2010, McLean coauthored her second book, All the Devils are Here, a history of the 2008 financial crisis. McLean is also a contributing editor to Vanity Fair.

As part of the Dean’s Speaker Series, McLean will reflect on the circumstances that lead to enormous corporate failures, discuss the lessons we have learned, and consider the risks of future failures. To register, click here.

Two ways to give back this November

November represents a month of giving thanks by giving back. Here are two great ways to do just that at Quinlan.

  1. Lawrence Metzger Memorial Blood Drive: Monday, Nov. 11, 10:30 a.m. to 4:30 p.m., Kasbeer Hall, Corboy Law Center.

    Accounting Professor Lawrence Metzger (BBA’77) served the Loyola community for nearly 40 years. He died of pancreatic cancer in October 2012. Living with a rare blood type, Professor Metzger frequently talked about the importance of donating blood to help those who need it most.

    Sign up to save a life at http://www.lifesource.org, using sponsor code 768. Follow the prompts to create your donor profile. For more information, contact Howard Knaizer of LifeSource at hknaizer@itxm.org. Appointments recommended. Walk-ins welcome. Free T-shirt for everyone who signs up.

  2. Quinlan Service Day: Saturday, Nov. 16, 8 a.m. to 2 p.m., St. Procopius School (1625 S. Allport St., Chicago, IL 60608).

    Join Quinlan graduate and undergraduate students, faculty, and staff for a morning of community service. We will be cleaning classrooms at St. Procopius Elementary School, Chicago's only Catholic dual language school, located in Pilsen. Bus transportation from LSC and WTC campuses and lunch will be provided.

    RSVP at LUC.edu/Quinlan/serviceday or contact Alex See at QuinlanEvents@LUC.eduFree T-shirt to the first 40 who register.

Carmen Santiago named 'Person for Others'

Carmen Santiago Award

Santiago has served the Loyola community for 40 years.

On Thursday, November 14, friends and colleagues burst into applause, as Carmen Santiago, a 40-year Loyola veteran, won the Kay Egan Person for Others Award at the University's annual staff recognition ceremony.

The award is designed “to distinguish a staff member with five years or more of University service, who has consistently made a significant positive impact within their department, fostering the mission of the University.”

For the past decade, Santiago has worked as an administrative assistant for the Undergraduate Programs Office at Quinlan, putting both a professional and personal touch on her work.

“Carmen is often baking her famous cakes for Quinlan folks and anyone at the University who asks,” says Susan Ries, assistant dean of the Undergraduate Programs Office. “She is without a doubt a very deserving recipient of the Kay Egan Person for Others Award.”

Charles Evans to speak at Quinlan

Evans has been leader of Chicago's Fed for six years.

Who better to talk about the economy than the people who manage US monetary policy?

Charles Evans, president and CEO of the Federal Reserve Bank of Chicago, and other representatives of the Fed from across the country will speak to the Quinlan community on Friday, December 6, from 2 to 5:30 p.m. in Beane Hall at Loyola's Water Tower Campus. Their discussion, aptly named "The Federal Reserve at 100," will take place as the banking system celebrates its centennial.

With the upcoming change of management in the Federal Reserve system, the panel will focus on past performances as well as how well the Fed is doing in attaining its goals of full employment, high economic growth, and price stability.

For more information, visit the event's registration page or e-mail Andrea Brault at busalumni@LUC.edu.

Defining 'social enterprise'

Social Enterprise

Professors Uğur Uygur and Alexei Marcoux at work.

TOMS Shoes has a simple mission: For every pair it sells, another is donated to a child in need. This model might not seem like the best for the bottom line, but it's what most people consider a “social enterprise.”


Quinlan Professors Uğur Uygur and Alexei Marcoux set out to answer that question in their latest paper, The Added Complexity of Social Entrepreneurship: A Knowledge-Based Approach, recently published by the Journal of Social Entrepreneurship.

Theirs is a philosophical examination, looking at what separates socially driven businesses from the rest of the pack.

“It’s something more than having a social benefit flowing from business,” Marcoux says, “because just about all businesses have some kind of social benefit flowing from them.”

After poring over scores of business models, Uygur and Marcoux settled on the distinction that social enterprises must consider knowledge sharing an essential part of their missions, lest they be deemed chiefly self-serving.

In order to earn the moniker of a “social enterprise,” then, a company must ask itself what matters more: keeping information proprietary to benefit the bottom line or sharing it with anyone committed to advancing its cause.

“Once social entrepreneurs finds a novel way to solve a social problem, it’s difficult for them not to share that knowledge with others who want to solve a similar problem,” Uygur says.

In the case of TOMS Shoes, the one-for-one model has largely been replicated, placing it squarely in the “social enterprise” camp. That's one foothold, according to Uygur and Marcoux, that it shouldn't have to share with just anyone.

Striking a smart balance


“A lot of companies have great products, but we’re going to bring purpose to all that we do,” Satkiewicz says.

For Mark Satkiewicz (MBA ’95), corporate social responsibility is less 21st-century buzzword and more real-world action.

As the president of SmartWool, one of the globe’s top outdoor brands, the Glenview, Illinois, native directs an organization hailed as a shining example of how profits and purpose can stand side by side in today’s corporate world.

“A lot of companies have great products, but we’re going to bring purpose to all that we do,” says Satkiewicz, who credits his MBA experience with inspiring him to blend his passions for business and outdoor recreation with vibrant corporate culture and sustainability principles.

SmartWool’s mission statement champions comfort, quality, and lasting value as well as contribution to the communities that sustain the organization. The company’s core values—humanity, humility, and integrity among them—guide Satkiewicz’s decision making, particularly as it relates to SmartWool’s 120 employees.

In August, Outside magazine named SmartWool one of its “Best Places to Work,” an annual tally recognizing American companies that foster a positive work-life balance. It was the Colorado-based company’s sixth consecutive year on the list.

When Satkiewicz arrived at SmartWool in 2006 following an 11-year career at Nike, the upstart brand had just been acquired by Timberland and claimed about $40 million in sales. It was, he says, transitioning from an entrepreneurial venture to a professional company.

“SmartWool looked great from the outside—quality products and a loyal consumer following—but it was not a great work environment. It was disorganized, and communications were inefficient,” Satkiewicz says.

As the vice president of sales, Satkiewicz helped shift SmartWool’s culture with its customers, personally visiting the brand’s 500 biggest accounts, and its employees.

“When people can like who we are and what we stand for, that’s powerful stuff,” says Satkiewicz, who ascended to SmartWool’s presidency in 2009.

The company directly integrates employees into decision making, including elected employee committees formed around sustainability, service, culture, and advocacy, the latter of which has sparked SmartWool to donate more than $1.6 million to organizations encouraging outdoor recreation for kids.

Employees receive 40 paid hours away from work each year to volunteer, and SmartWool closes its office twice a year for service work. Dozens of employees, including Satkiewicz, annually bike more than 300 miles from the company’s Steamboat Springs, Colo., headquarters to the Outdoor Retailer Summer Market trade show in Salt Lake City, cheering for one another at the end of each day’s ride.

All of this, Satkiewicz says, promotes an engaged workforce, unified movement, and a vibrant corporate culture, critical elements as the enterprise grows and hustles toward $150 million in annual sales, a near four-fold increase from Satkiewicz’s arrival.

“If we didn’t do it this way, we wouldn’t be where we are today,” Satkiewicz says. “It’s the hard way, but it’s the right way… and we’re committed to running the business this way no matter how big we get.”

This story appeared in the winter edition of Loyola magazine.

Zero to Big 4

Xin Min profile

Xin Min’s involvement in student activities led to a Big 4 job.

Xin Min came to the US two years ago—no family, no friends, no job. When she graduates this June, she will be working at one of the Big 4 audit firms.

“I started at zero,” Min says. “I built up everything in three months.”

How did she do it? First and foremost: getting involved in student activities. Beta Alpha Psi, volunteer opportunities, and events sponsored by Business Career Services helped her improve her English, make friends, and build a network. Min also always made time to stop by Professor Lisa Gillespie’s during office hours, which led to a job as a teaching assistant.

“I saw, firsthand, her very strong work ethic,” Gillespie says. “She displayed a level of honesty and integrity that is very rare. She has the exact characteristics I desire in a fellow coworker. When I realized I needed a new TA, it was a no-brainer.”

With a supportive Quinlan network, solid extracurricular experience, and a solid work ethic, it's no wonder Min landed a Big 4 job upon graduation.


Min's advice for making it to the Big 4:

  1. Attend networking events, such as Real Time with Employers. The Big 4 firm that Min will be working at in the fall? It started with a 10-minute chat with a recruiter, set up by Business Career Services.

  2. Send followup e-mails if you don’t hear back for a while. After a Big 4 networking event, Min sent an e-mail and heard nothing for four months. Then, she sent the recruiter a Merry Christmas e-mail and got a reply, with an interview a week later.

  3. Get second (and third and fourth) opinions about your résumé. Business Career Services, alumni, professors, and MBA students all looked over Min’s résumé. Remember, a résumé is always a work in progress.

  4. Use career fairs as opportunities to follow up with, not just go shopping for, employers. “Go to RamblerLink, and apply for the position you want for the company you want before the career fair,” Min says. “Then when you go to the fair, say that you applied to that position, and chat with the employer. Afterward, of course, send a followup e-mail.”

  5. Explore workshops through Business Career Services. They offer great networking opportunities and easy-to-follow tips wrapped in one convenient event.

  6. Visit professors during office hours. “I didn’t talk much the first few months at Loyola,” Min says. “International students are often shy about their English ability. But after a while, I visited Professor Gillespie’s office a lot, and she eventually offered me a teacher’s assistant position.”

Connect with Xin Min on LinkedIn.

Quinlan rises in rank

Quinlan jumps six spots in rankings

School up 22 spots since 2013

Quinlan's part-time MBA has jumped six spots in the latest round of rankings from U.S. News & World Report. For 2015, the school comes in at No. 37 out of 453 programs surveyed, up from No. 43 a year prior, securing its position among Chicago's top 3 MBA programs and earning a place among the nation's top 40 MBA programs. Since 2013, the school has climbed a total of 22 spots.

Meanwhile, Quinlan was ranked for the following MBA specialties:

  • Accounting: No. 21 nationally
  • International: No. 21 nationally
  • Supply Chain/Logistics: No. 15 nationally

For a full list of Quinlan's rankings, click here.

Greater risk, bigger reward

Enterprise risk management is emerging as a vital focus area for senior managers, with corporations seeking new perspectives on how to leverage risk management as a competitive advantage. With a new certificate from Quinlan's Center for Risk Management, you will gain this indispensable knowledge. Hosted at our downtown Chicago campus, the all-new Enterprise Risk Management certificate program offers interactive classroom discussions and faculty lectures, the latest research and best practices in risk management, and a built-in network of accomplished peers throughout Chicago.

During this three-day session, March 18–20, you will learn to: 

  • Use risk management as a competitive advantage
  • Raise awareness of risk management within your organization
  • Implement processes to manage internal and external risks by cooperating with other functions
  • Find the balance between operational targets and risk management as a strategic tool for growth


Silk Road scholars

Silk Road Conference

Scholars will analyze the Silk Road's past, present, and future economic implications at a conference on March 29.

If you think the Silk Road is only relevant in your history books, it’s time to go back to school.

The trade route that connected Europe and Asia was critical to the development of the modern globalized world, facilitating the exchange of goods, culture, and technology between East and West. As trade along the Silk Road declined, many of the countries along these routes fell behind the rest of the world in terms of economic development and global trade. Now, many of these countries, most notably China, are returning to lead roles on the world stage.

As an international business professional, you have your role to play, too, and Quinlan’s Center for International Business will help prepare you with our Land and Marine Silk Road Countries workshop. With globally focused academics from diverse fields, leaders who are engaged in business in Silk Road countries, and experts on sustainable business practices, Quinlan’s Mine Cinar, PhD, will lead you through the twists and turns of the modern-day Silk Road.

It’s a complex topic, but luckily, Professor Cinar has provided some background—a pre-departure briefing, if you like. Below are her insights.

Why does the Silk Road matter for global business?
Major proportions of trade are conducted along the marine Silk Road, with inherent security risks. Persons interested in global business, trade, or looking to invest abroad should be aware of the major trends driving trade with these countries.

What are the biggest opportunities and challenges to practicing international business along the Silk Road?
Risk has been a major challenge to international business along the Silk Road, both historically and in the present. Companies doing business in these countries often face significant risk associated with political instability and security. While these risks are a challenge, we also hope to emphasize the potential opportunity that it brings for companies that can successfully manage this risk. This will involve discussions from practitioners on how companies manage security along the Marine Silk Road, and discussions from academics on how companies can incorporate risk management into their supply chains.

What is the goal of the workshop?
The goal of the workshop is to create an understanding of the trends that are driving trade along the Marine and Land Silk Roads. Because these trends are complex, the workshop will be interdisciplinary and will bring together individuals from many different backgrounds. These include academic researchers from the fields of finance, economics, marketing, management, and supply chain management as well as leaders and consultants from companies that currently do business in the Silk Road countries.

How does this workshop relate to Quinlan's focus on sustainable business practices and corporate social responsibility?
Presenters on sustainable tourism along the Silk Road and on the extraction of energy and mineral resources will discuss many of these issues. Many of the countries along the Silk Road face significant environmental problems, so we will emphasize how sustainable business practices can benefit both the Silk Road countries and the companies that do business with them in the long term.

What future trends do you anticipate for business along the Silk Road?
We expect trade and business with these countries to become much more important in the future. While many of the countries along the Silk Road remain underdeveloped, many of them are also taking steps to invest in their infrastructure and integrate into the global economy. The workshop will give attention to economic development programs in these countries, and speakers will discuss topics such as the Mega-Suez project in Egypt and microcredit enterprises in India. 

What is the structure of the workshop?
The morning portion of the workshop is a multi-academic point of view of the historical and present day Silk Road. The afternoon sessions emphasize risk management on the Silk Road for practitioners.

We’re looking for someone to share in an adventure.
Join us for our workshop on Land and Marine Silk Road Countries: Past, Present, and Future.
Saturday, March 29, 8 a.m.–6:30 p.m.
Regents Hall, 111 E. Pearson St., Chicago, Illinois, 60611.

How to register:
The conference fee is $50 and includes breakfast, lunch, and dinner as well as drinks and snacks. To learn more, visit the conference webpage. To sign up, click here.

Financial advice

The finance department officially has its very own panel of experts.

The graduate and undergraduate finance programs announced the formation of an advisory board on March 18. Its purpose is threefold: to get continuous feedback and ideas for new finance courses, to offer potential avenues for students to get internships, and to provide students with networking opportunities.

“To ensure that we remain on the cutting-edge of this quickly evolving industry, we will look to the advisory board to assist in the development and refinement of our curriculum to see that it remains rigorous,” says Tom Nohel, associate professor and director of Quinlan’s MS in Finance program. 

The board’s first meeting is scheduled for the end of April. The first item on the agenda is getting feedback on two ideas for new courses. One is a potential graduate course on fixed income security. The other is a potential undergraduate course on trading strategies.

Nohel, along with Steven Todd, associate professor of finance and chair of Quinlan’s Finance Department, will soon be coordinating with board members on internship and networking opportunities.

“While Business Career Services focuses more on professional development, the advisory board will focus more on new relationships specific to the field of finance,” Todd says.

The advisory board is made up of the following 14 business leaders and industry executives. Asterisks denote Quinlan alumni.

  • Jorge Aseff, Head of Fixed Income Quantitative Research, Brown Brothers Harriman (NY)
  • Tim Fitzgibbon, MD, Wealth Management, JPMorgan Chase*
  • Patrick Galley, Chief Investment Officer, River North Capital
  • Corey Gallon, Partner, Roark Labs*
  • Michele Gambera, Head of Quantitative Analysis, GIS Global Investment Solutions, UBS
  • Fotis Giannakoulis, VP and Lead Maritime Analyst, Morgan Stanley (NY)*
  • Susan Gulotta, VP of Operations, OptionsHouse LLC*
  • Robert Gyorgy, VP Client Solutions Group, Northern Trust Asset Management*
  • Gene Huang, Corporate Vice President and Chief Economist, Abbott Labs
  • Alex Koh, MD, Head of Global Credit Technology, Citigroup (NY)
  • Edward Provost, President and COO, CBOE*
  • Stephen Rhee, COO and MD, AON eSolutions*
  • Joe Rizzi, Consultant, Macrostrategies LLC
  • Christopher Vincent, CFA, Head of Fixed Income, William Blair

Peeks and perks

Quinlan Ramble: Seattle

Seattle, one of Quinlan's many classrooms.

Quinlan students spend a week in Seattle,
for just the price of a plane ticket

April 2014

This spring, 16 Quinlan undergraduates jetted off to Jet City to see how the West Coast does business—and all for just a nominal fee, thanks to some very generous donors. The now-annual trip, known as the Quinlan Ramble, connects students with alumni, business professionals, and civic leaders in a popular US destination (and as such, serves as an alternative spring break immersion). For this year's inaugural journey, led by Lecturer Stacy Neier and Student Services Coordinator Alex See, students got a behind-the-scenes look at some of the world's most famous corporations, including Boeing and Starbucks. Dan Salganik (BBA '14) gives us a snapshot of what it was like.

Boeing can be hard to access. Take us inside.

This was one of the most enticing visits. We received a VIP tour of the Boeing manufacturing facility, where the most well-known airplanes in the world are built. This had been a completely unique experience for all of us because this kind of tour is not available to the public and visitors are not allowed to take any photographs. We were completely in awe of the sheer size of the facility, which we were told is larger than Disney World.

After a quick rundown of the history of the factory, we were each given a pair of our own goggles and were ready to explore the factory floor. As an operations management major, I learned quite a bit about how Boeing streamlines its plane manufacturing process as well as how it is able to build the 777 (its most popular plane) in under four weeks.

It felt great to be able to apply what I learned in class within a real-life setting. This was definitely my most memorable experience due to the enormous size of the plant and the impressive way that the airplanes are built.

Starbucks is a little more ubiquitous, but what's it like aboard the mothership?

The Starbucks headquarters was also among my favorites due to the fact that Starbucks is so relevant in many of our lives—especially considering there are so many near Water Tower Campus. During our visit to the headquarters, we spoke to an individual who told us how they design and plan each Starbucks store, depending on the environment and “feel” that they are going for. It is mind-blowing how much time and energy goes into every detail (good thing they have so much coffee around them). They assess every aspect and feature of a variety of chairs, tables, lights, floors, music playlists, windows, pictures . . . everything. We then were able to do a taste test and split up into small teams to talk to team members with roles that matched our majors.

So, Seattle in a nutshell?

I had an absolutely fantastic time getting to experience Seattle, a city that I have been wanting to visit for a very long time. The friends I made on this trip will be the friends I retain for years to come, and the companies that we visited were extremely inviting, generous, and informative. This trip has provided me with a clearer insight as to what I want to do when I graduate. I just hope they allow alumni to come back on this trip in the future!

To see pictures from the Quinlan Ramble to Seattle, visit our albums on Facebook and Flickr

Building corporate chops at some of Chicago’s top shops

Michael Palarz

Junior Michael Palarz has built a résumé that many would envy.

When Michael Palarz came to Loyola two years ago, he “went crazy” looking for a job. 

He now has an accounting internship at Sidley Austin LLP and was selected for the Deloitte training program this summer. 

His secret? He made good use of Quinlan’s resources from Day 1.

Office space

Palarz had a job when he started attending Loyola but decided he wanted something different. So he went job-hunting on RamblerLink and eventually landed an internship at Sidley Austin LLP, one of Chicago’s top law firms. 

There, his tasks vary from being a runner in the internal delivery system to helping file month-end reports, with special accounting projects on the side.

“With an internship, it’s not just what you do or what tasks you have that makes it valuable,” Palarz says. “Just by going into the corporate world, you learn so much. They are the smallest things that you would take for granted, like how to communicate properly with your boss, but they are crucial in navigating the corporate world.”

Palarz is gaining real-world experience in more than just his internship. He competed in the 2013 Deloitte FanTAXtic Case Study Competition, where student teams tackle a reality-based tax case. At the suggestion of a recruiter at the competition, Palarz applied for the 2014 Deloitte Chicago Leadership Program and was accepted to the summer conference.

With honors

Last February, Palarz also completed the PwC Honors Program, which holds select workshops covering three areas of accounting: tax, advisory, and audit.

“I didn’t go into college thinking, ‘I have to take advantage of every opportunity,’” Palarz says. “But when people suggested that I should apply for things, I did.”

Palarz is also involved in events at Quinlan. As vice president of Beta Alpha Psi (the honors accounting, finance, and information systems organization), he is responsible for managing professional events and firm presentations.

“What makes Michael so successful are his strong organizational skills, his attention to detail, and his outgoing personality,” says Brian Stanko, chair of accounting. “He managed the outreach, promotion, and event day activities for close to 15 professional events over 15 weeks for Beta Alpha Psi. Each of them was a complete success.”

Be like Mike

So when in doubt of your next career move, Palarz has some advice: “Take advantage of the Quinlan School of Business and of Chicago. Professors at Quinlan have so much experience in the field, and the best firms in the city want to educate and recruit you.”

Connect with Michael Palarz on LinkedIn.

A standout by all accounts

Darcia Jinkerson

Darcia Jinkerson (BBA '12) has been named one of the nation's top CPA test-takers for 2013.

The American Institute of CPAs recently announced the winners of the 2013 Elijah Watt Sells Award. This year, Darcia Jinkerson (BBA '12), a graduate of Quinlan's accounting program and an employee with Deloitte Tax in Houston, was one of 55 recipients nationwide to earn the prestigious distinction. The award is bestowed upon candidates who have obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, completed testing during the 2013 calendar year, and passed all four sections on their first attempt. More than 94,000 candidates sat for the exam in 2013.

Learn about Quinlan's BBA in Accounting.

One year, one startup, one MBA

Eric Johnson

MBA candidate Eric Johnson runs his own business, The Johnson Organization, a full-service real estate firm specializing in asset management, brokerage, construction, and investment services.

Work while getting your MBA? Eric Johnson will see that ambition and raise you one.

Johnson began his own real estate company, The Johnson Organization, just as he was starting his MBA at Quinlan in August 2013.

“I had always wanted to start my own business,” Johnson says. “Then I lost my mom to cancer a few years ago, and I said, ‘Life is too short.’ I didn’t want to wake up 20 years later, wishing I would have tried to start my own business or to get my MBA.”

Family business

Real estate is in Johnson’s blood, with his father having 30 years of experience as a senior vice president for CB Richard Ellis. Following in these footsteps, the younger Johnson worked for a contractor right out of college and interned with big companies to gain experience.

Starting his own business was much more trial-by-fire, and that is where getting an MBA came in. Johnson was able to take classes that would help his new company, concentrating on entrepreneurship and business strategy.

“Those classes are my bread and butter,” he says. “Business is not black and white, and at Quinlan, they help you with the grey area.”

Hometown glory

Besides starting his own business and working toward his MBA, the Orland Park native is also working on deepening his connection to the Chicago community. Earning his MBA at a university with a quality entrepreneurship curriculum and a strong alumni network was the first step. Now, he is reaching out everywhere, from church bulletins to Crain’s Chicago Business.

His philosophy in a nutshell: Hard work pays off.

“The best part of being an entrepreneur is having the ability to create my own destiny,” Johnson says. “But there’s no more 9 to 5. The alarm goes off at 4:45 in the morning, and I can have a conference call that ends at 10:30 at night. But you should do what you have to do now so you can do what you want to do later.”

Connect with Eric on LinkedIn and view the Johnson Organization’s portfolio.

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.

Learn More


Route this way

Supply Chain Workshop

Supply chain leaders gather at Loyola's Water Tower Campus.

August 2014

How do you move goods and services through your supply chain when the road ahead gets bumpy? That was the central question asked on June 30–July 2, as supply chain leaders from around the globe gathered at Loyola’s Water Tower Campus.

The annual workshop organized by the Transportation Science and Logistics Society, and hosted this year by Quinlan professors Maciek Nowak and Michael Hewitt, focused on operations and transportation planning during times of uncertainty. The result was the society’s largest gathering to date, with 48 research talks delivered to 68 attendees from 11 countries. Among those speaking were John Birge, of Chicago’s Booth School of Business, and Warren Powell, of Princeton, who touched on emerging areas and applications for logistics researchers while highlighting energy distribution.

The event solidifies Quinlan’s position as a leader in supply chain management—a strategic area of focus for the school, given its central location in a major logistics hub.

“This workshop not only showed that Quinlan has become a pivotal resource for the Chicago supply chain community, but it strengthened our reputation in the international academic community, as well,” Nowak says. “This will go a long way as we continue to recruit the best and brightest faculty.”

Learn more about Quinlan's supply chain management focus.

No. 1 in Chicago, and rising

Quinlan's undergraduate program—ranked No. 1 in Chicago—has jumped seven spots on the national stage. In the latest rankings from U.S. News & World Report, Quinlan comes in at No. 79 out of 429 programs surveyed, up from No. 86 a year prior. Meanwhile, Quinlan's undergraduate accounting program is ranked No. 31 in the nation.

For a full list of rankings, click here.

Jukić named Faculty Member of the Year


“At Loyola, you sit on top of a diamond mine,” Quinlan Professor Nenad Jukic, the 2014 Faculty Member of the Year, says of his students. “I simply mine that talent.” (Photo: Natalie Battaglia)

By Drew Sottardi  | Senior writer

Quinlan School of Business Professor Nenad Jukić wasn’t sure what to expect when he took his first programming class as a high school student in Croatia.

“I thought computer programming was this strange and mysterious thing,” he said. “I remember I took my first test and got a B+, which I couldn’t believe. I really thought I was going to get an F.”

His teacher, however, was less than impressed.

“He told me: ‘You’re not a B+ student. You can do better than this,’ ” Jukić said. “It gave me such motivation that someone believed in me—and that’s what I try to do with my students.”

It’s clearly an approach that’s working.

Jukić (pronounced You-kich) was named Loyola’s Faculty Member of the Year on September 14 as part of the University’s Eighth Annual Faculty Convocation. This latest award caps off a string of impressive accolades for Jukić, who also was named Quinlan’s Outstanding Undergraduate Teacher of the Year for 2014 and has twice been recognized as the business school’s top researcher.

“It’s very humbling to win,” Jukić said. “But like all of my colleagues here, I don’t teach to win awards. I teach to help students learn and succeed in life.”

Jukić, who joined the Loyola faculty in 1999, said the students at the University make his job easy.

“At Loyola, you sit on top of a diamond mine,” he said. “If you just scratch under the surface, you will not believe the talent, enthusiasm, and dedication of our students. I simply mine that talent.”

Creating data detectives

As a professor of information systems and database management, Jukić teaches students how to make sense of all the data that businesses collect. And there’s plenty of data to dig through.

Every online purchase, credit card transaction, or “like” that people post to Facebook becomes part of a massive data set that businesses examine to find trends to improve their operations, Jukić said. If a grocery store, for instance, can discern a pattern—say, milk sales spike on days when a coupon is sent out for a loaf of bread—and if the store can get that coupon into the right hands at the right time, profits should increase.

“Every large retailer does this,” Jukić said. “The only ones that don’t are the ones that are out of business.”

Jukić teaches several graduate and undergraduate classes at Quinlan, but he makes it a point to teach at least one course every semester for first-year students.

“I always teach a freshman class,” he said, “because I love meeting new students and telling them about all of the opportunities they’ll have with an information systems degree.”

The numbers back him up.

In the Class of 2014, Jukić said, more than 90 percent of the information systems majors at Quinlan had a job before they graduated or within three months after graduation—and most of them landed at Fortune 500 companies or large consulting firms.

“Very few people go to college to study information systems, so we have to reach out to freshmen,” he said. “Once they see the job opportunities, we get plenty of people into the program.”

Right where he belongs

Jukić, who studied computer science and electrical engineering as an undergraduate at the University of Zagreb, went on to receive his master’s degree and PhD from the University of Alabama.

And how did someone who grew up playing soccer in Croatia like living in a state that eats, sleeps, and breathes college football?

“I didn’t know what football was when I came to the United States,” he said. “But they must put something in the water down there. After two months, I was a rabid fan.”

Living in the South, however, did more than teach Jukić how to yell “Roll Tide!” It also taught him what life can be like at an American university.

“College in Croatia is very different from college here,” he said. “It’s work, work, work—all the time. In the States, of course students work, but they also get a chance to live and learn outside the classroom.

“Once I got a taste of that, I knew that I wanted to spend the rest of my life teaching,” Jukić said. “I belong here at Loyola. It’s honestly one of the best jobs a person could have.”

About the professor

Hometown: Grew up in Zagreb, Croatia; now lives in Glen Ellyn with his wife and three children

Professor at Loyola since: 1999

Courses now teaching: Business Information Systems (INFS 247); Database and Data Warehousing Systems (INFS 346); Health Care Information Systems (HCMT 510)

Fun fact: Jukić has an identical twin, Boris, who is also a college professor —and they both teach information systems. “We did everything together growing up,” Jukić said, “and I even do some research with him now. His kids and my kids are very close.” 

Leader of the pack


The 2014 volleyball team hoists the NCAA trophy after winning the championship at Gentile Arena. “Being there in the Final Four—it was one of the best moments of my life,” Head Coach Shane Davis says.

Note: This story first appeared in the Fall 2014 edition of Loyola magazine. It is being re-run here as volleyball season approaches.

By Anastasia Busiek  

Shane Davis (BBA ’03) was 23 years old when he took over as head coach of Loyola’s men’s volleyball team. He had just graduated with a degree in marketing.

“I said I wasn’t that interested in it,” Davis says. “I didn’t know if I wanted to coach. And I had no idea what I’d be doing if I did. I said I’d take it for a year until they could find someone qualified to do it.”

• The Ramblers kick off their regular season Jan. 9 in Palo Alto, Calif.
See the complete 2015 season schedule here.

In 2014, after 11 consecutive seasons as coach, Davis led the Ramblers to their first-ever NCAA volleyball championship—in their home stadium, no less. It wasn’t the first time a change of plans had worked out well for him.

“My first love was football,” Davis says. “I come from a small town in Iowa. The whole town shuts down to watch a game. I played every sport, just so we’d have enough players to make a team, but I really wanted to play football. And I was pretty good.”

Colleges started recruiting Davis, but he became interested in volleyball and thought he might have a brighter future in that sport. He redshirted at Loyola his first year and then played for the Ramblers for four years. When he took over as head coach, he had three years of experience as team captain under his belt.

“The AD said, ‘Here are the keys. You know where the office is,’” Davis recalls. “I unlocked the office and sat on the other side of the desk. In front of me was the chair I sat in for many years as a player. The old coach had given me a running list of what I should be doing and getting together and planning, and I jumped in.”

Many of Davis’s players were also his former teammates, but the transition wasn’t as difficult as one might think.

“These guys were my best friends, and now I was coaching them,” Davis says. “I did have to create some separation. I moved out of the area. I didn’t spend time with them off the court. But I was a three-year captain, so I was used to leading. That didn’t change much. Giving them instruction, telling them how to do something, finding the right wording—that came naturally.”

What didn’t come naturally was recruitment. Davis, who had been immersed at the college level for years, was unused to evaluating high school players.

“It wasn’t what I was used to,” Davis says. “I thought no one was talented. I couldn’t believe where people were going. That was the biggest challenge. And when I did get kids on campus, and their parents are sitting across the desk from a 23-year-old, that was another challenge.”

But he got the hang of it. He talked to other coaches. He watched more kids play, and got a better sense of what to look for. He watched old recruiting tapes from previous coaches, remembering where those players eventually went and comparing them to what they looked like then.

Davis, and the volleyball program, grew stronger. The 2013 team advanced to the national semifinals. The 2014 team went all the way.

“I knew we were good,” Davis says. “I knew we had a shot. My moment of grasping it was the first weekend when we played UC-Irvine, BYU, and USC. We lost to USC, but I knew if we kept improving, we’d be tough to beat. It was all part of the plan, from 2011 when [senior associate athletics director] Carolyn O’Connell put the bid in to host the tournament. All I had to do was get the right guys.”

The Ramblers played a great season, and on May 1, the NCAA tournament kicked off in Gentile Arena.

“Being there in the Final Four—it was one of the best moments of my life,” Davis says. “It was a wild week.”

Assistant Coach Mark Hulse was named Assistant Coach of the Year. Davis was named Coach of the Year. The Ramblers beat Penn State in the semifinals, and went on to drop Stanford for the championship.

Two days later, Davis’s wife Andrea gave birth to their second daughter. “I tried to name her Natty Champ,” Davis jokes. It didn’t fly.

The couple, who met playing volleyball at North Avenue Beach, named their daughter Jordyn, joining her older sister, Sydney.

For Davis, there’s no complicated formula for success.

“Win,” he says. “And not just on the court. Be the best in the classroom or at whatever you’re doing that moment. Do volunteer work and community service.”

Naturally, success is a team effort. Davis is quick to praise his players, assistant coaches, and staff, in whom he places the same confidence that allowed him to thrive in his role as head coach.

“From day one, I’ve been afforded a tremendous amount of responsibility and freedom in doing my job despite not having the longest coaching résumé,” says Assistant Coach Mark Hulse. “That’s putting a lot of stock and trust in potential, but I imagine someone felt the same way about Shane when he was offered the head coaching position 12 years ago. Sometimes the best way to learn is just to dive in headfirst.”

And, of course, there are the fans. “We couldn’t get it all done without the support of our fans and administration,” Davis says. “We appreciate it.”

On the heels of victory, Davis is gratified and excited for the next season. “Every once in a while a great team comes along. You win a national championship,” Davis says. “It takes a while to get back to that, but we’ve reloaded. I don’t see us taking steps back. We’re trying to build a sustainable powerhouse.”

Extraordinary Alum Xiaoling Ang

Xiaoling Ang

Xiaoling Ang (BS' 05, MS '05), PhD, spoke at Loyola about student loans in October.

Xiaoling Ang (BS ’05, MS ’05), PhD, works as an economist in Washington, DC.

Why economics? • In high school I was interested in public policy, and I was really interested in math, but I didn’t know how they could come together. Then, my junior year, I took an economics class.

Number cruncher • Before my freshman year, Professor (David) Mirza gave me great advice—he said that top economics programs recruit heavily on math ability. Anyone who wants to be an economist working in public policy should major or minor in math. That’s what I ended up doing at Loyola, although I took classes in economics as well.

The day-to-day • It’s all over the place. I read a lot of research articles and white papers; I do data analysis. If a policy is implemented I may use theory to figure out what possible outcomes are, using supporting evidence from similar policies. I quantify the results of actions. I dedicate time to work on independent research. I’m never short on questions, and I’m never short on data. A lot of my research has focused on student loans, mortgages, and disclosures. I’ve taught classes as an applied microeconomist.

Unlike the rest of us • I use calculus and statistics every single day.

Solid foundation • Really, what I do is a lot of writing and analysis as well as working in interdisciplinary teams where everyone’s an expert. Loyola’s Jesuit education has helped a lot in my role—it prepared me to speak to people with different worldviews and vocabularies.

Off the clock • I’m fairly involved in yoga, I hang out with friends and family, and I entertain at home a lot. This is probably overanalyzing it, but entertaining at home is a relic of dinners I had with friends at Loyola.

Back in the fold • When I came back to campus [to speak on students loans], I didn’t realize it would be such a big deal. What I really liked is a lot of students came up afterwards and asked questions. I couldn’t believe how warm the reception was.

What’s the big idea? Contests help students pitch their plans


The Whiteboard Competition gives students valuable hands-on experience to pitch their business ideas and inventions. “I like to call the program an entrepreneurship boot camp,” says clinical Professor Leonard Gingerella. (Photo: Christopher Jones)

By Chase DiFeliciantonio  |  Student reporter   

A knife-proof bike bag. A smart fuel filter for gas pumps. A beverage-dispensing couch. These are just some of the ideas that have percolated out of the Quinlan School of Business’s annual Whiteboard Competition since its inception in 2010.

Run by clinical Professor Leonard Gingerella of Quinlan’s undergraduate entrepreneurship program, the Whiteboard Competition gives students three minutes with a whiteboard and felt pen to pitch their ideas and inventions to local entrepreneurs. The winners receive cash to continue developing their ideas and possibly find investors.

The competition, Gingerella said, tests the value of ideas and encourages students of all majors to participate.

“Whiteboard is based upon the commercial and social impact value of the idea,” said Gingerella, who came to Quinlan in 2009. “What’s the idea? Is it unique? Does it fill a need? If the answer is yes, then students are encouraged to take the idea to the planning stage and explore its business potential.”

This year’s winning idea was a product called Saddlebag. Created by a team of undergraduates, it is a wire-mesh fabric bag that can attach to the back of a bicycle and withstand everything up to and including a knife slash. The idea was launched after a team member’s saddlebag was cut open and someone took off with tools, money, and a phone. Team Saddlebag received $500 for the idea and hopes to put it through the paces of business development.

Previous Whiteboard success stories include a smart phone app that communicates with a diabetic’s glucose monitor to provide real-time control. The idea received recognition from Microsoft’s business development division, and the software giant is considering offering it as a mobile app.

Still, despite these successful pitches, there are hurdles for students with bright ideas.

“The biggest thing that hurts undergrads is their age,” Gingerella said. “A lot of times because they’re so young, they aren’t taken seriously by equity players.

“So we try to drill home the notion that their ideas must be financially sustainable and have the ability to grow. It doesn’t matter if the idea is for a non-profit or a commercial venture, it has to pass the financial test of time and growth. That’s why I like to call the program an entrepreneurship boot camp.”

Whiteboard isn’t the only competition of its type at Quinlan. This April, the school’s entrepreneurship program will launch the Start-Up Challenge, a contest that asks students to present a business plan and pitch it to real investors. With a first prize of $2,000, Gingerella sees the Start-Up Challenge as an opportunity for all Loyola students to take their ideas to the next stage.

The Whiteboard Competition and the Start-Up Challenge are examples of Loyola’s thriving entrepreneurship program. Along with the student-run Loyola Limited, the University’s entrepreneurship program is increasingly asserting itself on the national stage—and it was recently ranked one of the top programs in the country by U.S. News & World Report.

Ultimately, Gingerella sees the entrepreneurship program as an opportunity to encourage students to develop ideas that have a positive social impact on the world.

“At Quinlan, we often talk about doing well and doing good at the same time,” Gingerella said. “And I hope that this program teaches students that they can do exactly that.”

#KindnessForKristen message strikes a chord in classroom


“The idea behind Kindness for Kristen is that it’s not about people having these hardships, but making a difference in some way because of it,” says Jenna Drenten, an assistant professor of marketing.

By Jacob Voss  |  Student reporter

Late last fall, when most professors were handing back papers to their students, one Loyola instructor did something a little different: She gave out money.

Jenna Drenten, an assistant professor of marketing in the Quinlan School of Business, filled dozens of envelopes—each with a crisp $5 bill—and passed them out to the students in her Marketing 201 class. On the outside of the envelopes, Drenten put a rainbow sticker and the words #KindnessForKristen. 

It was Drenten’s way of honoring her late sister Kristen, who passed away in November 1997 at age 15 after a long battle with osteogenic sarcoma, a form of bone cancer that affects roughly one in a million teens. But it also was Drenten’s way of showing her students that she’s more than just a professor—and that small gestures can, in fact, make a big difference.

“Sometimes professors and students don’t really share the personal things going on in their lives,” said Drenten, who started teaching at Loyola in 2014. “But I like to think that students appreciate seeing another side of their professors outside of just giving them exams and projects to do.”

Kristen’s impact on others

In the last few months before she died, Kristen didn’t want to dwell on her cancer. So instead of focusing on the negative, she decided to create something positive.

Gathering up $200 of her own money, she started a college scholarship for students at her South Carolina high school. Kristen’s initial goal was to raise enough money to distribute one or two scholarships in 2001, the year she would have graduated.  But thanks to several donations, the Kristen Julia Drenten Memorial Scholarship was awarded to seven graduating seniors in 2001—and has been awarded annually ever since.

That message of helping others is the driving force behind the envelopes Drenten handed out to her students.

“The idea behind Kindness for Kristen is that it’s not about people having these hardships, but making a difference in some way because of it,” Drenten said. “That is a big part of Kristen’s message and how she lived her life. The cancer was not something that defined her. It’s the impact that she had on other people that really defined who she was.”

A motivational message

Drenten was not able to spend the anniversary of Kristen’s death with her family, so last semester she decided to honor her sister with a Kindness for Kristen campaign. Along with the $5 she handed out, Drenten told her students about Kristen’s message of spreading kindness and asked them to do the same.

For the next few weeks, Drenten received e-mails from her students about how they spent their money. Ashley Bennett bought hot chocolate for the homeless; Charity Driggs bought coffee for a random stranger at Starbucks; and Lynsey Patlan donated it to bone marrow research.

“It was really nice that not only was it something to acknowledge my sister and celebrate her life, but also allow my students to give back in a way that was personal to them,” Drenten said.

And it gave at least one student something to think about beyond homework and tests.

“We have that time that Kristen doesn’t have,” Lauren Rasch said, “and this experience that Professor Drenten gave us motivated me to make something out of it.”

Click here to learn more about the Kristen Julia Drenten Memorial Scholarship.

Geraldine Henderson: mentoring for a diverse faculty

Geraldine R. Henderson


By Emilio Bermeo | Student reporter

In the film Mr. Holland’s Opus, a music teacher comes to realize that his former students represent his legacy. They are, in other words, his masterpiece. 

“That’s how I feel about my students,” says Quinlan Associate Professor Geraldine Henderson, who recently received a multicultural mentoring award from the American Marketing Association Foundation. It was an honor that helped her realize—just like Mr. Holland—that her students are her heritage. 

“At the awards ceremony, they played this slideshow that had pictures of most of the students that I’ve mentored over the years,” Henderson says.

When Henderson was a student, she noticed there weren’t many faculty members that looked like her. So when she became a professor, she made it a point to mentor young students from various backgrounds. And she’s been an inspiration for many of them.

Mecca Johnson is one of those students. When she started her MBA at Quinlan, she wasn’t sure if she wanted to concentrate on marketing. But after taking one of Henderson’s multicultural marketing classes, Johnson was motivated, she says, “to follow the avenue that would allow me to help with the branding of multicultural America.”

“Professor Henderson doesn’t mind being a mentor and taking an additional role,” Johnson says. “She always talks about PhD students who she’s helped, or who she’s mentoring at the moment. She doesn’t mind connecting us with any of her peers, or any of her friends that are in the same area that we are professionally. She genuinely cares about the students and watching us succeed in life.”

From engineering to business

Henderson took a roundabout path to her career in marketing. She studied engineering as an undergraduate and took part in a co-op program with IBM, working on semiconductor fabrication and testing. But before her final year of school, Henderson was recruited by a manager in the sales division of IBM, despite not having any experience in that department. 

“I wasn’t interested in sales because engineers don’t do sales,” Henderson says.

Still, she took the position. And she loved it.

While working there, Henderson wanted to learn more about business and completed the first half of her MBA in a part-time program. “One of the ways I transitioned to business was through getting an MBA at night,” she says.

She became so involved in her new field that she wanted to study it full time. She asked for a leave of absence and applied to the top business schools in the country. Her boss was supportive and transferred her to Chicago, where she completed her MBA.

Then, inspired by her father, who was a teacher, and by the realization that academia could offer her many benefits, she decided to get her PhD. The only reason why she hadn’t considered it before was because she thought it wasn’t lucrative.

“But I realized that I could have my cake and eat it, too,” she says. 

Bringing diversity to the classroom 

Just before finishing her doctorate, Henderson attended the very first PhD project conference, in Chicago. The PhD Project, which began in 1994, is a non-profit organization that works to increase the diversity of business school faculty—and by extension, create a more diverse student body and workplace.

Although Henderson never was on the student’s side of the PhD Project, she took an active role in the mentoring side from the beginning. Two decades later, the project is still going strong.

“We are five times the number of professors that we were before," says Henderson about the increase of university faculty members who are minorities. “The main thing is getting the information out, knowing what PhDs do.”

Making sense out of chaos

In addition to advocating for more diverse faculty, Henderson also conducts research on multicultural marketing.

“If I had one word to describe my research, it would be diversity. Two words: marketplace diversity. Three words: global marketplace diversity. And five words: global marketplace diversity and inclusion,” she says.

But for Henderson—who also received an award from students at the PhD Project—it’s the interaction inside the class that matter most.

Quinlan student Laura Martini says Henderson has been a big influence on her life. In an e-mail, Martini described Henderson as a rare combination of brilliance and enthusiasm. “Not only do I admire her intellect and knowledge in the field of marketing, but also the way she engages the classroom and brings discussions to life,” Martini writes. 

Henderson’s recent honors show how devoted she is to her field—and her students.

“I’m not married, and I don’t have any children, so I like to think of my students as my children,” Henderson says. “I want them to be able to see a lot of chaos and then be able to make sense out of it.

“I tell them: ‘I’m not going be at work with you. You have to learn how to deal with messy data and information because life is messy, the world is messy.’ ”



Students conduct groundbreaking survey of local small businesses

Chicagoland Chamber

By Emilio Bermeo | Student reporter 

When the Chicagoland Chamber of Commerce wanted to conduct market research for its members last fall, it turned to a unique source: graduate marketing students at the Quinlan School of Business.

It was a way for the Chamber to learn more about the issues that small businesses face—and at the same time, a way for students to gain valuable hands-on experience. It was also groundbreaking work.

“This is the first small business economic outlook survey in this area,” said Professor Joan Phillips, who chairs the marketing department at Quinlan and also supervised the Chamber project.

Twenty-eight graduate marketing students worked with a handful of graduate statistics students to develop, distribute, and process responses to an Internet survey sent to more than 30,000 small business managers. The goal of the survey was to identify how to help small businesses improve their bottom lines.

The project started when a delegate from the Chamber visited Phillips’s Research Methods in Marketing class (MARK 461) to explain the organization’s needs and goals. Students translated that information into researchable questions and then designed a study, which included creating a questionnaire, finding participants, and soliciting responses.

Working together

After the surveys were returned, the marketing students teamed up with their peers in the M.S. in Applied Statistics program from the Department of Mathematics and Statistics, who helped them wade through the data.

“It allowed the marketing students, who have strong analytical skills, to ask and answer even more rigorous questions,” Phillips said.

Quinlan student Nicole Lobo said she and her classmates enjoyed working with students from another Loyola department.

“Having the statistics students was very helpful to understand the statistical analysis software we were using,” she said. “We wouldn’t have been able to complete it without them. And it was a great opportunity to work with other departments, just like it is outside of the University.” 

The survey results were released at a Chamber event held at Loyola in February. At the unveiling, Katie Hamilton, Director of Small Business for the Chamber, stressed how important small businesses are to the Chicagoland economy.

“They comprise 99 percent of the businesses, and they employ half of the workforce here,” Hamilton said. “So their success has an enormous impact on Chicago’s success.”

Key findings from the survey

From their work, the Loyola students produced pages of valuable information. Among the highlights of their 2015 Chicagoland Small Business Outlook Survey: 

Small businesses are most concerned about revenues, the economy and taxes:

  • 87 percent are concerned with revenue/sales growth       
  • 84 percent are concerned about uncertainty of economic conditions   
  • 81 percent are concerned with taxes

Small businesses most need additional assistance in marketing and technology:

  • 53 percent would benefit from additional help/training in conducting marketing research and developing marketing plans
  • 45 percent would benefit from additional help/training in using technology

And it’s information that the Chamber plans to use going forward.

“We learned a lot from the survey, and we’re trying to use that information to become a better organization and better serve small businesses,” Hamilton said.

The research findings also validate the goal of better understanding the small business community: to know their concerns, needs, and ambitions.

“More than 95 percent of startup businesses fail,” Phillips, the marketing professor, said. “So this project enables the Chamber to protect them and assist them to make better business decisions.”

A win-win for all

The project, everyone agreed, was a great collaboration that helped all sides.

“The Chamber was very impressed by the quality of the work that was done,” Phillips said. “We learn about concepts and theories in the classroom, but where the real learning takes place is in practice and applying it.”

Lobo, the marketing student, agreed.

“This is an authentic need that a real organization faced,” she said. “It was a real market research atmosphere. I definitely learned a lot.”

As for the Chamber, Hamilton hopes the organization will continue to work with Quinlan students.

“It was a wonderful experience, and we couldn’t have afforded to do this without Loyola,” she said. “On the other side, the students had a real-world experience, because they really did treat the Chamber like a client, so it was a win-win for both organizations.

“This is our first partnership of this kind and on this scale. We are thrilled with the results and we hope to continue this on an annual basis.”

>> See a copy of the survey on the Chamber’s website.


A lesson from the heart


“What I try to teach students is that society is a stakeholder and the environment is a stakeholder,” says Quinlan Professor Linda Tuncay Zayer, who had her class create public service announcements for an organ donation program after her nephew needed a heart transplant. (Photo: Emilio Bermeo)

By Emilio Bermeo | Student reporter

When Quinlan Professor Linda Tuncay Zayer received news that her infant nephew had been put on a waiting list for a heart transplant, she took the issue to where she knew she could have the most impact: her classroom.

Students in Zayer’s consumer behavior class (MARK 310) were eager to help. With Ashton Scorza, 10 months old, on the waitlist at C.S. Mott Children’s Hospital in Ann Arbor, Michigan, Zayer called on her class to create public service announcements, or PSAs, for Gift of Life Michigan, an organ and tissue donation program.

By collaborating with real-world clients, Zayer puts business theory into practice and exposes her students to various stakeholders—in this case, a group charged with an explicit social mission.

“What I try to teach students is that society is a stakeholder and the environment is a stakeholder,” Zayer says. “They also get to see how they can use their skills to make society a better place.”

Two of Zayer’s classes, composed of 10 teams each, participated in the organ donation project, with representatives from Gift of Life Michigan picking their favorite spots.

“It was a unique opportunity,” says Jennifer Tislerics, special events and partnerships coordinator at Gift of Life Michigan. “It seemed helpful to get the perspective from current students and find out what speaks to them—what kinds of things get their attention.”

Making a difference

For senior Lucy Glaser, that means using business as a force for good.

“Sometimes marketing is seen as very pushy, manipulative, and sales oriented,” Glaser says. “So it is good to be able to use the skills we’re learning in class to really make a difference in someone’s life.”

Glaser’s team, Lifesavers, was among the winners. For its spot, the team used animation software to produce a message that appealed emotionally to parents and their children.

Senior Fran Homan narrated the Lifesavers’s PSA and, like many of her classmates, says the project motivated her to become a registered organ donor herself.

“We talked with a lot of people who weren’t organ donors and didn’t know why or how to sign up,” Homan says.

Then, midway through the semester, unfortunate news came.

More than a month into waiting for a donor, Ashton was in declining health. After several professional opinions, the family opted to take Ashton off the list in Michigan to move him to Boston Children’s Hospital for heart surgery.

Sadly, while Ashton’s surgery was successful, he died from an infection on October 21, just eight days shy of his first birthday.

A project to remember

In spite of her loss, Zayer has not given up hope for others.

“We came up with this project with the hope of getting as many people in Michigan to register to be organ donors,” Zayer says. “I guess I just hoped that maybe one of those people would be the one. One person’s donation can save up to eight lives, and of course, their tissues can help many more, so each person who is an organ donor has a big impact.”

Zayer’s lesson has had a similar effect.

“Professor Zayer’s story had a very strong impact on the entire class,” Glaser says. “In the first day of class, she made the note that she really wants us to appeal both with our minds and our hearts. This project certainly did that.”

To register to become an organ donor, visit donatelife.net.

Introducing the Baumhart Center

Introducing the Baumhart Center

By Akanksha Jayanthi
Inside Loyola

An anonymous donor has given $5 million to the social enterprise and responsibility initiative at Loyola's Quinlan School of Business. Funds will be used to support the new Raymond C. Baumhart, S.J., Center for Social Enterprise and Responsibility.

The Baumhart Center will provide faculty, staff, students, and alumni with opportunities for growth—including research, community outreach, and professional development—according to Kathleen A. Getz, Quinlan’s dean.

Social enterprise and responsibility is a burgeoning field in business, with companies now seeing it as vital to both the community and the bottom line.

“Over the past 20 years, there has been a real growth and appreciation that business ought to operate with a sense of appreciation and social responsibility,” says Timothy O’Connell, professor of business ethics at Quinlan.

O’Connell says social responsibility involves making sure all the stakeholders in a business are taken care of, not just the investors. These stakeholders include the employees, customers, suppliers, and financiers. Social enterprise refers to businesses whose central purpose is to help others.

“The second step beyond social responsibility involves bringing the skills of business to the organizations that explicitly are there to do good for society,” O’Connell says. “We have core competencies in the business school that could be particularly beneficial to nonprofits.”

Getz says the Baumhart Center exemplifies what Loyola stands for as a university.

“When you think about transformative education and the Jesuit approach to education, the words social justice, equality, responsibility, and community service immediately come to mind,” she says. “That’s what this is about.”

Getz says that the $5 million gift itself is a testament to the school’s belief that business can be a force for good.

“We couldn’t be doing this without our donors,” Getz says. “It shows they believe in what we are doing here. They believe in our community and want to make the future of this school even brighter. They believe in the students and want to support them.”

Per request of the anonymous donor, the Baumhart Center is named after the former dean of Loyola’s business school and former president of the University, Raymond C. Baumhart, S.J. Baumhart is one of the country’s leading business ethics scholars.

The announcement of the Baumhart Center comes just a month after Quinlan launched a Supply and Value Chain Center, the first in Chicago.

Getz says the generosity from the donors and their commitment to this school will continue to benefit and transform Loyola.

“The response has been overwhelming,” she says, “and the momentum is building.”

Joan M. Phillips named American Council on Education Fellow

Joan Phillips fellow


When Quinlan professor Joan Phillips, PhD, MBA, learned that she had been selected to be the University’s nominee for The American Council on Education (ACE) Fellows Program, she felt deeply honored.

And more so when she found that she’d been selected as an ACE Fellow for the 2015-16 academic year.

“This is a tremendous honor,” said Phillips, who is also the chairperson of the marketing department.

“As an ACE Fellow I will have the opportunity to learn the best practices of higher education administration from today’s university leaders. I look forward using my new skills to help advance Loyola’s strategic priorities upon my return." 

The ACE Fellows Program is designed to strengthen institutions and leadership in American higher education by identifying and preparing emerging leaders for senior positions in college and university administration.

Forty-seven Fellows, nominated by the senior administration of their institutions, were selected for this academic year following a rigorous application process. 

“It’s a long process, just like applying to graduate school: five essays, transcripts, letters of recommendation, and interviews,” Phillips said. “It’s very selective.”   

This year, the ACE Fellows Program is celebrating its 50th anniversary. Over that time, nearly 2,000 higher education leaders have participated, with more than 300 Fellows having served as chief executive officers of colleges or universities, and more than 1,300 having served as provosts, vice presidents, and deans.

The last ACE Fellow from Loyola was Richard Holz, PhD, in the 2010-11 academic year. He served as department chairman of chemistry and biochemistry, and as associate dean for resources and planning in the College of Arts and Sciences—before leaving to become dean of the College of Arts and Science at Marquette University.

Loyola computer science professor Chandra Sekharan, PhD, was also an ACE Fellow in 2009-10, as was Loyola’s Graduate School Dean and incoming Interim Provost, Samuel Attoh, PhD, who was a member of the 2003-2004 ACE Fellows class.

About Professor Joan Phillips 

Phillips joined Loyola in 2008 after serving on the faculties at University of Notre Dame, University of Kentucky, and Michigan State University. She holds a BA from State University of New York at Albany, an MBA from The University of Virginia’s Darden School of Business, and a PhD from University of Illinois at Urbana-Champaign.

Her research explores consumer decision-making, brand strategy, and the impact of marketing on society, and she teaches at the undergraduate, MBA, and executive levels.

As an ACE Fellow, Phillips will go through a combination of retreats, interactive learning opportunities, campus visits, and placement at another higher education institution to condense years of on-the-job experience and skills development into one year.

While working closely with a college or university president and other senior officers at a host institution, Phillips will focus on an issue of concern to Loyola.

"I’m particularly interested in identifying opportunities between a university’s business school and its other professional schools and how to form partnerships with local organizations to create experiences that help students to learn and also benefit the university's community."

“I care a great deal about higher education and its success for the future,” Phillips said. “I’m the first in my family to go to college, so I know about the transformative experience that higher education can have on someone’s life.”

Big data, big champions


Clockwise from standing: Natalie Perkins, Vasyl Ilchyshyn, Matt Soroczak, Nenad Jukić, Rory Dayton, Emily Edkins, Laura LeBeau, Madeline Mills, Naznin Larya, Sarah Mucerino.

November 2014

Everyone loves a good underdog story.

For a handful of Quinlan students competing at Data Driven: Teradata 2014 Partners Conference and Expo in Nashville this past October, underdog is an understatement. 

The two Quinlan teams, composed mostly of undergraduate students, took home two out of three awards at one of the nation's largest data analytics and technology conferences—beating out teams of MBA and PhD candidates from Oklahoma State, Maryland, Emory, Georgia Tech, and Cornell, to name just a few of the many universities competing. Best of all, it was a completely democratic process, with the audience of several hundred, including Fortune 500 executives, voting via a smartphone app. 

"Our teams presented flawlessly," says Professor Nenad Jukić, who served as the coach. "They pitched professionally and answered every question shot at them as the well-studied, cool-demeanored professionals that they are. The audience responded to that." 

The first team—made up of Rory Dayton, Vasyl Ilchyshyn, Madeline Mills, and Natalie Perkins—analyzed Felice's, Loyola's student-run pizzeria, to win the "Most Practical/Business Value" award. The project was a study in data consolidation—an analysis and restructuring of the database system used in tracking Felice's finances. Ultimately, the yield was extra savings and a realistic waste-minimization plan for the organization, with an outlook as far as 2017.

"We focused on how our implementation would be a value-add for Felice's," says Dayton, the team's captain. "While our analysis also touched on the theory and methodology behind our work, we knew that the judges would be evaluating us as if we were consultants, and you can't win a client if you don't show how the business will benefit the organization long term and as a whole."

The second team—made up of Emily Edkins, Naznin Larya, Matt Soroczak, Laura LeBeau, and Sarah Mucerino—examined how to maximize marketing and funding for Kids With Autism Can, for which the Quinlan students won “Best Presentation.”

“We asked stimulating questions about issues that go beyond business and data analytics,” says Edkins, who served as her team’s captain. “They’re questions about society and using creativity to solve social challenges. I knew the implications of our work and the mission of Kids With Autism Can were important, and I wanted to do justice to our team’s work.”

Needless to say, Jukić—named Loyola Faculty Member of the Year this September—was thrilled with the students’ success. Moreover, the news follows the latest rankings from U.S. News & World Report, which places Quinlan as the No. 1 undergraduate business school in Chicago.

“This competition really sheds light on the kinds of young professionals we’re preparing here at Quinlan,” Jukić says. “We focus on making sure our students get the knowledge and skills to be highly competitive in the job market while making sure they also understand not just business practices but also the importance of ethical conduct and responsible leadership.”

Stevens joins Quinlan as dean


Kevin T. Stevens joined the nationally ranked business school on July 1.

Kevin T. Stevens became dean of the nationally ranked Quinlan School of Business on July 1. Stevens, who received his Bachelor of Arts in Political Science from the University, returns to Loyola from DePaul University where he served as professor of accounting, director of the School of Accountancy and Management Information Systems, and director of global initiatives in the College of Business.

Stevens comes to the school at a time of growth and movement. In March, Loyola kicked off The Campaign for Quinlan, a $100 million fundraising campaign to benefit student scholarships, the school’s renowned leadership centers, and Quinlan’s new 10-story, state-of-the-art home, the Schreiber Center, which will open this fall. To date, $70 million of that goal has been raised.

“Quinlan is building momentum with a renewed focus and commitment to business education, research, and partnerships, and we are pleased to have found the right person to lead the school during this critical time,” said John Pelissero, PhD, provost of Loyola University Chicago. “We need a leader who is knowledgeable about Chicago, has strong connections to the local business community, and has the ability to strategically position Quinlan for success over the course of the next decade. We have found that leader in Kevin.”

An accomplished scholar and teacher, Stevens has held a number of faculty positions in his more than 25 years with DePaul, including the KPMG Distinguished Professor of Accountancy from 2005–2012. He also led the largest major within the university, the School of Accountancy and Management Information Systems, which in his time as director grew from approximately 800 undergraduates to more than 1,200, while also securing more than $12 million in funding for the program over the past five years. His work as the director of global initiatives included responsibility for multiple masters programs in Bahrain and Qatar, the development of certificate programs for executives from China, Mexico, France, and Qatar, and the recruitment of international students.

Returning to Loyola as dean is an honor. The broad-based Jesuit education I received was instrumental in whatever success I have had in my career, and I am delighted to join a faculty and staff committed to the values-based leadership that business today is demanding,” said Stevens. “Understanding global business and having the ability to analyze and communicate the uses of ‘big data’ to make decisions will become increasingly important. But, producing leaders with a strong moral compass is what Catholic universities are particularly well-equipped to do, and upon which we should continue to focus and grow.”

In addition to his Loyola degree, Stevens attended Loyola’s John Felice Rome Center, and he earned a Master of Accounting Science from the University of Illinois at Urbana-Champaign, a Master of Science in Taxation from DePaul University, and a Doctor of Business Administration (accountancy) from the University of Kentucky. He is an ardent believer in education in the Catholic intellectual tradition and his personal experience with, and commitment to, Jesuit, Catholic education is one of the many reasons he is returning to Loyola. Stevens’s family has deep Loyola roots. His wife, Marietta, is an alumna of Loyola and the Rome Center, and the University counts the couple’s two sons as Rome Center alumni.

Next for Quinlan

Looking ahead, the Quinlan School of Business will move into the new Schreiber Center this fall. To celebrate the opening, the school will host a CEO summit and gala on September 15. The summit will also kick off the Quinlan Signature Event Series, a group of panel discussion events focused on today’s top business issues and the critical role of responsible leadership. The series will run through the 2015–16 academic year. More details will be available in the coming months.

We built it, and they have come


May 2014

Just a few months after launching, Quinlan’s Supply and Value Chain Center had exactly one member. Much has changed in the two years since then, with the center increasing its membership by more than 50 percent in the past month alone.

“I spent most of 2013 going to businesses and seeing what they wanted from us,” says John Caltagirone, the center’s director. “I built the center based on what these companies said they needed. Once that was done, I felt that we were ready to take members.”

To date, Quinlan’s Supply and Value Chain Center has 27 members—and counting.

Expert insight

Caltagirone, a supply chain leader himself, has been the main attraction for many, bringing with him nearly 40 years of experience in the field—25 as a practitioner running supply chains and 15 at his own supply chain consulting practice. Prior to joining Quinlan, he served as vice president and national practice leader of global supply chain strategy for The Revere Group, an NTT Data company. Before that, he was senior vice president/chief logistics and operations officer for Peapod Inc. Caltagirone has also held several senior management positions with Rand McNally, RR Donnelly, and Ryder Logistics.

“I had relationships with companies that were clients of mine when I was consulting, and they were my first call,” he says.

Caltagirone focused on household names as well.

“We got Abbott first, then McDonald’s and Walgreens,” he says. “Then all of a sudden, other companies that I had been in talks with for months started coming to me and committing.”

Customized care

Caltagirone approaches each organization with a personalized plan of action, putting to use his extensive knowledge and experience in distribution services, inventory management, purchasing, transportation management, logistics engineering, and customer service.

“It takes months of research,” he says.

This customized care—matched with Quinlan’s status as the only school to offer an actual physical center where members can meet and the only school to focus on end-to-end supply chain management—is a major draw.

Sound solutions

So what does a supply and value chain center actually do?

“Whatever its members need,” Caltagirone says.

For example, Fellowes Inc., a company that manufactures office supplies, recently received a request from Walmart, one of its customers, to work on new guidelines for sustainability. Quinlan’s Supply and Value Chain Center partnered with Fellowes on the project, helping draft recommendations on how to comply with new manufacturing standards.

Similarly, the center’s advisory board wanted to know if American manufacturing companies should leave China, and if so, where to go. Caltagirone and his team launched a study, dubbed Where’s the Next China?, to find out. It’s too early to reach a definite conclusion, but Caltagirone says that Vietnam looks promising. This is the sort of insight that (typically) only members receive.

“In order for the center to be of use to its members, we have to know what’s keeping them up at night,” Caltagirone says. “That way, we can deliver.”

Academic support

Students are benefiting too. In fact, the center works closely with Quinlan’s Master of Science in Supply Chain Management and MBA programs to connect budding business professionals with established industry leaders on an array of real-world research projects. Meghan Maloy, a current MBA student, just completed a study for the center that looks at the viability of the funding model for Chicago’s recently launched Digital Manufacturing Lab. Maloy’s study is set to be released soon; stay tuned to the center’s website for more details.

Interested in partnering with Quinlan's Supply and Value Chain Center for insights unique to your company? Click here for information about membership.

For a sample of what membership looks like, join us for the Third Annual Chicago Supply Chain Summit on Thursday, October 30, 2014, at the Sofitel Chicago Water Tower.

What's in a name?

When Michael R. Quinlan (PhB '67, MBA '70), former chairman and CEO of McDonald's, announced he was giving $40 million to our school, we knew it would forever change the course of our history. We didn't realize by how much—and how soon. As we celebrate our one-year anniversary of becoming the Quinlan School of Business, we look back on all that has been accomplished in that short time.

Quinlan Banner Secondary

Student Activities
For our undergraduates, we started the Quinlan Case Competition, allowing them to tackle a real-world business challenge for the chance at cash prizes. Along the same lines, we reimagined theQuinlan Social Enterprise Competition (formerly the Loyola Business Plan Competition), primarily for our graduate students, with involvement from our alumni.

Our faculty has been infused with a new vitality, receiving numerous accolades, leading groundbreaking research, and being seen as a constant source of expertise in the media.

We brought back our annual gala. We also brought our alumni back to campus, with events like Real Time with Alumni, offering students the chance to gain insight from some of Chicago's most successful business leaders. Meanwhile, alumni giving is up across the board.

Business Career Services
We more than doubled the number of employers at our fall career fair, while increasing our on-campus interviews by 38 percent. This coming year, we will have 19 students taking advantage of our revamped winter accounting internship program, when historically it has been about four.

New Programs
Our MS in Supply Chain Management got off the ground with much success. We are now seen as the go-to source for supply chain recruiters—to the point that we have more job opportunities than students (2:1). Likewise, our Intercontinental MBA cohort will be taking off this fall, with students traveling to four continents; much of this was made possible through scholarships.

New Centers
We launched the city's first and only Supply and Value Chain Centerin concert with a representative from the mayor's office. We also formed the Raymond C. Baumhart, S.J., Center for Social Enterprise and Responsibility.

Undergraduate enrollment is up from 1,546 to 1,959, while graduateadmissions are up from 317 to 418 for the fall.

Our MBA jumped 16 spots in the latest round of rankings by U.S. News & World Report, placing us in the nation's top 50 (and Chicago's top 3) part-time programs. Meanwhile, our graduate marketing program climbed six spots, while our graduate accounting program rose by three spots—placing both in the nation's top 25.

The Brand
Everywhere you go—whether walking through the halls of Maguireor taking a cab to the airport—the Quinlan name can be seen and heard. As a result, we have received an onslaught of new media attention, not just at the local level but also on a national scale.

Indeed, the power of a naming gift far exceeds its monetary value.We are so thankful for Mr. Quinlan's generosity—as much as we are proud of our community—and we look forward to the year ahead.

A suite space for Loyola


Assistant Professor Ugur Uygur, PhD, leads a discussion at Loyola’s new space in 1871. “Entrepreneurs have to wear a lot of hats,” Uygur said. “Our partnership with 1871 provides a great opportunity for our students to learn how to wear all those hats.” (Photo: Steven Abriani; flag photo on Loyola home page courtesy of 1871.)

By Anna Gaynor

A creative space for young startups? Check.

Networking opportunities with programmers, marketers, and even venture capitalists? Check.

The chance for Loyola students to participate in all of it? Check, check, and check.


Learn more about Loyola’s partnership with 1871 (including how to reserve the University’s suite) at LUC.edu/1871.

As Loyola settles into its new partnership with 1871, a digital hub for tech startups in the city’s Merchandise Mart, students and faculty at the University are finding countless ways to get involved. And at 1871—often called “the Silicon Valley of Chicago”—those opportunities are everywhere.

“You walk in there, and the energy is palpable,” said Janet Deatherage, PhD, executive director of the Office of Corporate Engagement at Loyola. “There’s a common space with people working and there are conversations going on all around you. Over here someone is talking to an investor, and over there someone else is talking to a mentor.

“They have pitch sessions and ways to help you learn code. Just about anything you can think of to get your ideas off the ground and get them running is there for you.”

Campus 1871

 In April, the space at 1871 was filled with eager, entrepreneurial-minded college students from across the Chicago area.

Starting on a Friday night and running through Sunday, students at the second annual Campus 1871 competition broke into teams to develop and pitch a new app. This year’s ideas ranged from developing a more social way to learn a language, creating seamless access to WiFi networks, and even building a new investment platform.

The prize? A full-year membership to 1871 for the winning team and a six-month membership for the runners-up.

“I walked into the 1871 competition wanting to meet other students who are interested in the entrepreneurial community,” said Loyola sophomore Jessica Chitkuer, a marketing and finance major who was part of a team of eight students (not all from Loyola) that took first place with their Languallama app. “I’ve actually developed really great relationships working with my team members as well as the people who were also involved in the competition.”

Over the course of the long weekend, Chitkuer and her peers heard speeches on crafting the perfect pitch and the challenges of building a startup—plus they got some words of advice from Howard Tullman, the CEO of 1871. Besides meeting other students, Chitkuer came to the competition to learn more about the venture capital industry. She hopes to use her year membership to do exactly that.

“I’m so excited,” she said. “1871 has a ton of incredible opportunities for students as well as its members. Just having access to those opportunities and to meet the entrepreneurs, residents, and the venture capitalists who also work out of the space is kind of cool.”

Innovation, outside the box

Campus 1871 is not the only way Loyola students are getting involved with the tech world.

A few weeks after Chitkuer and her teammates left victorious, two other teams of Loyola students and alumni came to the 1871 space to compete. This time, they were there for INTXHACK, a 24-hour hackathon that challenges teams to develop an app, idea, or hack from scratch using the latest technology.

Both Loyola teams made the finals, with one taking home the third-place prize of $3,000 for its VShare idea, which allows users to watch videos while video conferencing with friends.

“It’s opening our students up to a whole new technology business community,” Deatherage said. “I’ve been amazed by the amount of resources and people who are interested in this and are looking for new ideas and new technology. It’s this incredible other world, basically.”

Deatherage is quick to point out that 1871 isn’t just for business or computer science majors. The space is open to anyone with an idea: from those in the Health Sciences Division to students like Marina Peric of the School of Communication. Peric said she participated in Campus 1871 because it sounded like a great opportunity.

“To me it doesn’t matter what your major is,” said Peric, who graduated in May. “I’m always trying to learn anything that interests me. And 1871, which I hadn’t heard of before, sounded interesting.”

Once there, however, she realized she was the only communications student in the competition. While she might not have been able to code, she proved to be an asset in developing her team’s three-minute pitch and bringing in social media, public relations, and customer engagement angles. 

“We think about the technology, and we think about people building the actual app,” Deatherage said. “But they all need public relations and communications and marketing. They need all of that.

“And then you look at the business: How do you create a profit/loss statement? How do you work a spreadsheet? Where’s the marketing data to tell you that this is a great idea? All of that comes into play.”

A suite space for Loyola

Thanks to the University’s new partnership, students, faculty, and staff at Loyola will now have access to a small space at 1871. Loyola’s new suite will allow six student-entrepreneurs to work alongside one another in a collaborative environment, either as part of a group or on completely different projects—making it an ideal place for creativity and networking. 

After going through an approval process, students will be able to reserve a space at the table to work on their ideas—and, just as importantly, to sit in on classes and attend events. It’s that opportunity to be around like-minded entrepreneurs that appeals to many students.

“It’s a place you can go and dream about something,” said Fernando Russo, whose team took home second place at Campus 1871. “It’s great, but they also tell you that dreams without work mean nothing.”

Russo, who recently graduated with an MBA from the Quinlan School of Business, already considers himself an entrepreneur. A few years ago he joined Mobile Bigfoot, a company that develops WiFi networks for music festivals, including Lollapalooza Chile.

Beyond the networking and the educational opportunities, the 1871 environment holds another draw for Russo, too.

“Everybody that you see there working either at the community tables or in their private tables, you know what they’re doing,” Russo said. “You don’t know exactly what they’re doing, but you know what they’re after. So if they’re believing it and they’re doing it, I can do it with my team and my people.”

Making a name in the tech world

While faculty and staff at Loyola will have access to the new 1871 space, some have already jumped into the tech world—from mentoring startups to joining in on the action.

Five members of the Stritch School of Medicine are working with a new company, 30Second Mom, based out of 1871. Created by Elisa All, an award-winning media entrepreneur, the free website and app are designed to give mothers quick, informative, and accurate tips from professionals and regular moms.

“We are doing the medical portion of it,” said Josephine Dlugopolski-Gach, a medical internist and pediatrician as well as an assistant professor at Loyola. “There’s a few physician moms at Loyola, and we were asked to participate. If we came across ideas with patients during the day or even our own kids and we thought we could provide some good medical tips, we would write about them.”

Gach and the other faculty members—who are all mothers—have become a part of the community that’s grown around the app and website, even doing a Q&A over Twitter. At this point, Gach has covered everything from frostbite to sunburns, iPad usage to picky eaters.

Gach is excited to put her knowledge and expertise to use in new ways, but she’s also proud to be a part of a female-owned company. And she’s not the only one at Loyola playing a hand in transforming the look of the entrepreneurial field.

Mentoring a new field

Ugur Uygur, PhD, an assistant professor at the Quinlan School of Business, has used 1871 companies for real-world exercises in his marketing classes. But this spring, he helped create a mentoring program for non-Loyola 1871 businesses.

He and five other faculty members from the Quinlan School of Business and the Business Law Clinic spent six weeks advising four startups. The mentorship is in tandem with 1871’s diversity scholarship to promote more inclusiveness in the tech world.

Each week, Uygur and his fellow mentors would spend an hour with a company to discuss its business and any issues it was facing.

“The first hour, the very first time you meet, is always spent on, ‘Well, tell me about your business,’ ” Uygur said. “After the second or third time, we can go into details of their business and what challenges they are having, so I can offer solutions. We have much more fruitful and productive conversations.”

Each company is in a different stage of development—some have been running for a few years while others are just beginning. They range from an online training course for commercial driving instructors to a nonprofit focused on finding jobs for the long-term unemployed.

For these entrepreneurs, 1871 provides resources to help launch their startups. Now with the University’s new partnership, Loyola students will have access to those same benefits.

“Entrepreneurs have to wear a lot of hats,” Uygur said. “Our partnership with 1871 provides a great opportunity for our students to learn how to wear all those hats, increase their knowledge across all disciplines, and connect with some of the brightest minds in Chicago.”

Students shine in research competition


Jose Luis Rodriguez, who graduated in May, won first place in GfK’s annual NextGen Competition, which is open to undergraduate college students across North America. A team of four Loyola students finished second.

By Ana Plefka  |  Student reporter

Five Loyola students recently took home the top two prizes in a marketing research competition—and with it, an all-expense paid trip to New York City to learn from some of the industry’s biggest players.

Jose Luis Rodriguez, who graduated in May, won first place in GfK’s annual NextGen Competition, which is open to undergraduate college students across North America. A team of four Loyola students finished second.

GfK, one of the world’s largest market research firms, has hosted the competition for the past four years. Students work individually or in teams to conduct market research and write a paper highlighting their findings. For the first time ever the top two finishers were invited to the company’s North American headquarters in New York; ordinarily, only the first-place winner receives an invite. 

Quinlan School of Business senior lecturer Stacy Neier Beran, PhD, introduced the competition to her engaged learning Marketing Research (MARK 311) classes in 2013. Beran uses the competition as an outlet for students who want to expand their research skills beyond the classroom.

“I really want students who want the extra experience, who want the immersion in this process to supplement their coursework,” Beran said. “They were driven to understand how a classroom concept does fit into a real-world, non-academic setting.”

Winning research

First-place finisher Rodriguez, a mathematics and computer science major, didn’t know much about market research—let alone GfK’s competition—before entering Beran’s class.

“I was just really interested in learning more about market research,” said Rodriguez, who also received $1,000 for his winning entry. “I really wasn’t sure what to expect.”

For his research proposal, which was sponsored by Loyola’s Center for Experiential Learning, Rodriguez surveyed smart phone owners about how they use their devices and created profiles based on patterns he found in the data. Some example profiles include “reads The New York Times” or “watches MTV.” The overarching goal of Rodriguez’s research was to discover how different user groups depend on their smart phones.

The competition has motivated Rodriguez to keep pursuing research and analytics. He is now working as a data analyst at Quinlan’s Financial Services and Business Analytics Lab, which will move with the business school into the new Schreiber Center this year.

Beran wasn’t the only Quinlan instructor to help Rodriguez. Clinical lecturer Fady Harfoush, PhD, also made suggestions, Rodriguez said.

“He was crucial in helping me shape my ideas,” he said. “He’s a great mentor.”

The second-place team’s research delved into how to incorporate digital marketing in the fast-casual restaurant industry. Emma Anderson, Hannah Toohey, Samantha Simone, and Jennifer Wzorek held focus groups, administered surveys, and studied social media trends for their research proposal.

Anderson, a 2015 Quinlan graduate, said one of the most interesting insights her team uncovered was how women are more selective than men in engaging with brands on social media.

“There was a huge disconnect between how genders interact with brands over social media,” she said.

New York City experience

All five students traveled to GfK’s North American headquarters in New York to present their findings to company executives in May. During their trip, they worked with new marketing software, attended seminars, and met company executives. GfK experts also critiqued the students’ proposals and gave them tips to improve future projects.

“They were able to ‘talk shop’ with seasoned industry professionals,” Beran said. “It was a cue that they have a place at the table, even as junior, entry-level students.”

By the time the winners boarded their flight back to Chicago, they had acquired some valuable industry insights. One such lesson came from David Krajicek, CEO of GfK Consumer Experiences North America, who has a degree in psychology and took an unconventional path into market research. 

“It’s interesting to see how, in this industry, you don’t necessarily have to come from a strict business or market research background,” runner-up Anderson said. “They are really just looking for people who can think. That’s the crux of this industry.” 

Introducing the Schreiber Center

Introducing the Schreiber Center

$10M gift will transform Quinlan School of Business

Loyola University Chicago announced March 19, 2014, that alumnus John G. Schreiber will give $10 million to the University’s Quinlan School of Business. The gift from John and Kathy Schreiber will go toward the construction of a new facility for the business school. The facility, located on Loyola’s Water Tower Campus, will be named the John and Kathy Schreiber Center.

“We are very grateful to John and Kathy Schreiber for their extraordinary gift to support our new home for the Quinlan School of Business,” said Loyola University Chicago President and CEO Michael J. Garanzini, S.J. “Their generosity will lead to a state-of-the-art, environmentally sustainable building that will allow for collaboration, learning, and great debate; it will truly transform the way we deliver—and our students benefit from—Loyola’s world-class business education.”

The 10-story facility will feature advanced classrooms, innovative social spaces, and a presentation and gathering area on the first floor that will promote collaboration in and out of the classroom. A system of atria will harness natural ventilation and harvest daylight to provide energy efficiency and light throughout the building, in keeping with Loyola’s commitment to sustainability.

In addition to serving the needs of undergraduate and graduate business students, the building will be home to several signature centers, including the school’s renowned Family Business Center, the Center for Risk Management, and the new Supply and Value Chain Center. Loyola’s Executive Education programs also will be housed in the center.

The Schreiber Center is expected to be completed by August 2015—in time for the 2015–16 academic year.

Mr. Schreiber graduated from the Undergraduate Quinlan School of Business in 1968. After graduating from Harvard Business School in 1970, Mr. Schreiber went on to a 20-year career in real estate investment management as a partner in Chicago-based JMB Realty Corporation. He retired from JMB in 1990 and in 1992 founded the New York-based Blackstone Group’s real estate investment management business.

Today Mr. Schreiber is an active partner in Blackstone Real Estate Advisors and continues residing in the Chicago metropolitan area where he and Kathy have raised a family of eight children and have 12 grandchildren. The Schreibers have been significant supporters of many educational institutions in the Chicago area, including Loyola University Chicago, where they established a scholarship endowment fund in 2008 for students from Lake County, Illinois. This $10 million donation for a new facility constitutes a special gift to Loyola University Chicago.

“Loyola’s School of Business played a big part in my development as a student and in my career in business,” said Mr. Schreiber. “Contributing to the construction of the new business school building gives me a way to acknowledge Loyola’s importance in my life.”

The gift comes a year and a half after Loyola alumnus Michael R. Quinlan made a $40 million gift to support the business school. In honor of that gift, the school was renamed the Quinlan School of Business. Since that gift and naming, the school has enjoyed a period of significant growth and progress.

“We are forever grateful to the Schreibers for a gift that will advance Loyola’s distinctive approach to educating future business leaders,” said Kathleen A. Getz, PhD, dean of the Quinlan School of Business. “Quinlan has outstanding faculty and staff, highly engaged students, and an active alumni network around the globe. This new home, in the heart of downtown Chicago, symbolizes the growing strength of our community and complements our nearly 100-year legacy of promoting business as a force for good.”

More online

John Schreiber talks about his time at Loyola—and the mentors who helped guide him—in this Chicago Tribune story.

9 tips to kick-start your career

9 tips to kick-start your career

Hassan Akmal knows how to build a résumé. Over the course of his nearly 20-year career, he's been a professional athlete, an international ambassador, a researcher, a financial advisor, a banker, and a professor—to name just a few of the many hats he's worn. He even started his own nonprofit to help refugees.

This combined experience, however, makes him more than a standout candidate when it comes to the job hunt. It makes him uniquely qualified to understand the various types of careers that students are seeking, which is sure to be an asset to his new role as director of Quinlan's Business Career Services.

Shortly after making the move from New York to Chicago this past May, Akmal sat down with us to distill his broad background into a short list of must-knows for college students looking to kick-start their careers. Here are his top tips:

  1. You should first ask yourself, "Why am I pursuing this new path?" One of the biggest concerns students have when switching or trying to start their careers is fear of the unknown. As the Boy Scouts say, "Be Prepared." It's important that you fully understand what the new career path truly entails before sending résumés in every direction.

  2. Many students look for jobs with résumés that are not career- and/or major-specific for long periods of time and have little luck. Thus, they give up or get discouraged, then begin looking for alternatives. Connect early on with alumni and employers via LinkedIn, take advantage of on-campus programming that combines career exposure and networking, and participate in off-campus employer site visits.

  3. Job shadowing, also known as an externship, is underrated. Externships are similar to internships but for a much shorter duration. These opportunities range from one day to several weeks and offer participants a glimpse into what it's actually like working in a particular career field. They also provide professional contacts for future networking.

  4. You are always more marketable to employers when you are working and have strong references. By leaving a position prematurely, not only do you jeopardize your organization with a lack of a succession plan, but you may also burn bridges. Additionally, you may create gaps in your employment.

  5. You must discover and uncover "career readiness," the hidden skill set that helps students develop employment-seeking competencies that better prepare them for the competitive job search. This skill set of career readiness, combined with a quality degree program, will better position you for a meaningful career outcome.

  6. Students want jobs that are meaningful but often don't have a clue where to begin. Focus on finding a career, not simply a job. There is a larger framework that must be understood. Consult the three steps of the career development process: 1) self-assessments, "Who am I?"; 2) career exploration, "Where am I going?"; and 3) action plan, "How do I get there?"

  7. Success means something different to every individual. Ask yourself the question "Who is managing your career?" If the answer is that you are, then the next question is "How?" Do you have  a next step in mind, and if not, why not?

  8. Students don’t have to start at the bottom if they switch career paths. Leverage and focus on your transferable skills. Many professional skills are transferable and will entice employers because they can be leveraged in many ways.

  9. It's important to understand how social media can impact your career aspirations. Consider how it relates to your career profile and brand—how it provides opportunities and challenges for you as you strive to create a personal brand that is both authentic and professional.

Want more career insights? Visit the Business Career Services website or schedule an appointment with a career advisor.

Connect with Hassan Akmal on LinkedIn.

Students examine the sustainability of McDonald's supply

October 2014

On Monday, October 6, Loyola hosted the third annual Quinlan Case Competition. In all, 49 undergraduate business students teamed up to put their problem-solving skills to the test before a panel of judges.

The jury was comprised of 25 Loyola alumni and business leaders who evaluated the students' ability to translate their classroom knowledge into a real-world business solution. This time, the case focused on managing a sustainable supply chain for McDonald's.

The following teams were awarded cash prizes for their expert insights and recommendations:

First Place

The ROI's

Callum McCann
William Steffek
Alex Szabo
Adam Zimmerman 

Second Place

Team BA Squad

Adam Hepp
Garrett Larsen
Hannah Sawyer 

Third Place

Team Business Casual

Zane Carmean
Dominique Ritvo
Wesam Shahed

Lawrence Metzger 
Award for Excellence*

Team BA Squad

Adam Hepp
Garrett Larsen
Hannah Sawyer


Congratulations to all the winners, and thanks to everyone who participated to make the Quinlan Case Competition a success.

Click here to see photos of the competition in action.

Quinlan hosts international Macromarketing Conference


Arash Kordestani from the Luleå University of Technology in Sweden at the Macromarketing Conference's opening reception. He presented a paper later in the conference.

By Anna Gaynor

At first blush, social justice and business might not seem compatible. Yet the 40th annual Macromarketing Conference, hosted in June by Loyola’s Quinlan School of Business, illustrated that the two can be complementary, and indeed should be.

The conference brought together nearly 200 scholars from around the globe to analyze how marketing affects economies and societies—both positively and not. The ultimate goal is to identify how the marketing industry and policy makers can help address some of the world’s worst problems.

“No one can solve a complex societal problem, whether it’s at the Water Tower Campus or whether it’s in Darfur, without looking at history, at systems, at social philosophies, at various economic models and forms of governance,” said Cliff Shultz, Professor and Kellstadt Chair of Marketing in the Quinlan School, and one of the conference’s chairs. “It’s simply not possible, and that’s why macromarketing is so important.”

His own research looks at how marketing can encourage peace and prosperity in regions affected by failed political systems and chronic warfare. In addition to spending the last 25 years working in and out of Vietnam, Shultz has spent time in Cambodia, the Balkans, Colombia, and the Middle East.

Yet, his work only touches on a part of what the macromarketing field encompasses.

“Macromarketing research should address everything that makes life worth living,” said Gene Laczniak, the president of the society, during the opening reception. “Our vocation compels us to widen the marketing system and its wellness, and to fearlessly debate it. This involves establishing things like what conditions create social justice, how can trade-offs between market efficiency and societal welfare be better proportioned.”

The four-day conference featured panels and sessions on a wide range of topics including the FIFA World Cup, poverty, fashion, education, ethics, conflict and failed states, life-quality, and sustainability.

International scholars converge on Loyola

More than half of the conference’s attendees traveled to Loyola from outside the US. Among them were Arash Kordestani and Setayesh Sattari. Originally from Iran, the pair has been researching at Swedish universities for the past several years.

The two were excited for the opportunity for some feedback on the paper they were presenting on corporate social responsibility. Even just attending the conference as an observer, however, gave them plenty of reasons to be there.

“For me, it’s first networking,” Sattari said. “The second one is to know about the trends in research and what are the areas that are most researched during the past year or the coming year. I was surprised to read the new phenomena or very new areas of research that I didn’t know of.”

Showcasing social justice at Loyola

The Loyola community had a prominent role at the conference. Several Quinlan School of Business faculty members served as session chairs and presented their own research. Loyola students and alums also presented their own work during the opening reception’s poster sessions, in addition to volunteering and attending conference discussions.

“To have the opportunity to host the Macromarketing Conference and to see the symbiotic missions play out was fun,” Shultz said. “I think it was a great value for a lot of our students who attended, our colleagues who participated, and the people from six continents who attended. It was just a meaningful event, and we were very proud to showcase that Quinlan may be the only business school that has social justice as one of its core pillars ”

25 family business legends offer insights into leadership transitions


A new book by Andrew Keyt of Quinlan's Family Business Center provides a blueprint for next-generation family business leaders to successfully negotiate the leadership transition and engage everyone with their vision for the business.

In Myths and Mortals: Family Business Leadership and Succession Planning, Keyt interviews more than 25 successors of family business legends including Massimo Ferragamo, Bill Wrigley Jr., Christie Hefner, and John Tyson to identify common obstacles and missteps during the transition. This forms the basis for the strategies presented in the book to help new family-business leaders lead more effectively right out of the gate.

More about Myths and Mortals

Meet Kevin Stevens, the new Quinlan dean


Kevin Stevens understands challenge. The fifth of 12 children of a Chicago police officer and a special education teacher, Stevens worked his way through his Loyola undergraduate education over nine years. Among his jobs: CTA ticket agent, gas station attendant, and janitor.

Nearly everything he saved went toward his education, but even then, he had to drop out of college for several years before saving enough to return.

“I experienced firsthand how easy it is—and how discouraging it is—to fall behind. It’s crushing,” said Stevens. “A lot of hard-working, smart kids end up dropping out of school, because they are juggling so much. I had teachers and administrators who believed in me and that made all the difference.”

After earning his degree in political science, Stevens taught American and English literature and grammar at Mount Carmel High School on Chicago’s South Side. Soon, he was back in school to earn two master’s degrees and a doctorate in business administration, specializing in accountancy.

Degrees in hand, Stevens taught at DePaul University for 26 years and most recently served as the director of DePaul’s School of Accountancy and Management Information Systems, and as the director of global initiatives in the College of Business. On July 1, he returned to Loyola as the dean of the Quinlan School of Business.

Here, Stevens talks about his journey to Loyola and his vision for Quinlan.

Finishing your undergraduate degree wasn’t easy. What motivated you to keep going?

Stevens: I always wanted to be a teacher and needed the degree to do that. Teaching is really a vocation, a calling. Not everyone can do it. The word “education” comes from the Latin “educere,” meaning “to draw from.” That’s what really good teaching is: it’s the teacher asking the student, “What do you think?” and “What’s holding you back from understanding this?” Just trying to transfer knowledge to a student doesn’t work.

A great teacher’s job is to find the kernel of interest in any subject and inspire students. Nothing is intrinsically dull, even in accounting. There’s a story behind everything.

What excites you about serving as Quinlan’s dean?

Stevens: Loyola’s chancellor, Father Garanzini, offered a really intriguing challenge. He asked, “What should a great Catholic, Jesuit business school look like?” Quinlan is already a great school, but what can we do better? With our mission in mind, how can we best serve our students and the business community? I really believe that the business world is looking for well-rounded people who think critically and have a strong moral compass. Catholic schools aren’t the only place to develop these skills, but we are uniquely positioned to do so.

From your vantage point, what makes Loyola’s Quinlan School of Business different?

Stevens: When businesses hire a Quinlan graduate, they gain a talented worker with distinctive skills. Every decent business program provides its graduates with the technical skills they need. But Loyola graduates have a broad liberal arts education and a targeted business education. They know how to think critically and to be responsible leaders.

We are also committed to partnering with our alumni and the business community. We want to provide the education you need for yourself and your employees, from degree programs to executive education and beyond.

And finally, what hobbies do you have outside of the University?

Stevens: My family and I are outdoorsy people. I used to run marathons before my arthritic hip put a stop to that. I ran 10 marathons, including Boston twice. Now I ride my bike a lot with my sons. I love to travel and am unafraid to try to communicate with anyone using my little phrase book. Often it’s disastrous, but it’s a lot of fun. And of course, I’m a huge White Sox fan, as befits the son of a Chicago policeman.

Read the announcement of his appointment

Schreiber Center ribbon cutting and building blessing on August 27


Join Loyola faculty, staff, and students for the ribbon cutting and building blessing for the John and Kathy Schreiber Center, the new home of Loyola’s Quinlan School of Business.

Schreiber Center Ribbon Cutting and Building Blessing

Hosted by John P. Pelissero, Interim President, Loyola University Chicago, and Kevin Stevens, Dean, Quinlan School of Business.

16 E. Pearson Street, Chicago
Thursday, August 27, 2015 | 10:45 a.m. to 11 a.m.
Tours and Water Tower Campus Block Party immediately follow

The innovative, sustainable Schreiber Center is the future of business education, located just steps from the heart of Chicago. The Schreiber Center features some of the latest thinking in business education and sustainability, and connects Loyola with Chicago’s business, nonprofit, and government leaders.

Explore the new home of the Quinlan School of Business, and see how the new facility enhances our work to educate responsible business leaders.

Learn more about the Schreiber Center →

Coworking in the community


Nicole Vasquez (MBA ’11) is an entrepreneur who rents space to mobile workers in blocks as short as four hours.

Nicole Vasquez (MBA ’11) knew two things in 2008: she wanted to open her own business, and Loyola would provide her with the knowledge and tools to get started. “I was attracted to Loyola’s all-star reputation and how easily it fit into my schedule,” Vasquez says.

Vasquez applied to Loyola while working in a traditional 9–5 desk job, which she described as isolating and frustrating. Her initial frustration led her toward a new career path in sales and marketing, where she was able to work from home most mornings and meet with clients in the afternoon. However, Vasquez soon discovered that the “kitchen table office” was equally detached from the working world.

This led to the creation of her first company, BLEND, during which time she began attending communal events at 1871, an entrepreneurial hub and coworking space located in the Merchandise Mart. Coworking is a style of work that involves a shared working environment, often an office, where self-employed people or people working for different companies can rent and share work space.

“When I first visited 1871, it literally caused me to stop in my tracks,” Vasquez recalls. “After that initial visit, I started going to other coworking spaces, and I fell in love with the concept.”

Armed with an MBA and inspired by the productivity, creativity, and community that coworking spaces offered, Vasquez opened her own coworking space, The Shift, in Chicago’s Uptown neighborhood. “Everyone works from home or a coffee shop up here,” Vasquez says, “and I thought, why are these shared spaces only downtown?”

The Shift’s mission is to offer an affordable space that caters to individual schedules, encourages collaboration, and fosters community. Customers can reserve a four-hour time block, or one shift, for $16 on weekdays and $15 on weekends, or opt for a membership. Membership benefits include networking events, access to networking communities, and classes taught by industry experts.

“My business is here to help support other people’s businesses and passions,” says Vasquez.

This article appeared in the Summer 2015 issue of Loyola Magazine. Read more →

Loyola celebrates new business school building


The future begins in Quinlan's innovative, sustainable new building. The Loyola community gathered on August 27 to celebrate the Schreiber Center.

The Loyola community celebrated the opening of the Schreiber Center, the new home of the Quinlan School of Business, with a ribbon cutting and building blessing on August 27. About the Schreiber Center →

“This is an exciting day for the University, as we dedicate the state-of-the-art, game-changing Schreiber Center,” said John Pelissero, PhD, Loyola’s interim president.

“This building is the physical realization of our strategic goals for the Quinlan School of Business. With the leadership of Dean Stevens and the completion now of our Water Tower Campus facilities, we are poised to leverage our world-class education and to benefit from a solid financial foundation to become a leader in business education.”

Dean Kevin Stevens added, “I believe we have the best business building in the city of Chicago and probably in the United States. What strikes me the most about the building is that the only thing between our students and faculty and the community of Chicago is a thin pane of glass. The building invites people in and challenges us to move out into the business community.”

Marketing Department Chair Mary Ann McGrath, business student Peter Hutz, and Sr. Jean Dolores Schmidt, BVM, also spoke at the ceremony. Frank LaRocca, S.J., Quinlan’s assistant dean for international initiatives, performed the building blessing.

In addition to members of the Loyola community, the ceremony was attended by members of the Quinlan Dean’s Board of Advisors and The Campaign for Quinlan Leadership Committee, as well as representatives of architectural firm Solomon Cordwell Buenz and Power Construction.

Ceremony photo gallery

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

Schreiber Center Ribbon Cutting

The pursuit of happiness

Al Gini Ethics

By Al Gini
Professor of Business Ethics
Chair of the Department of Management

As a society, we seem obsessed with the quest for happiness. Go online or into any bookstore, and you will find hundreds of quick-fix self-help books dedicated to finding and acquiring happiness. Most, but not all, suggest that happiness is a particular physical thing. That is, just lose weight or run 10 miles a day or switch to a vegan diet or do hot yoga, and all will be well. Other texts argue for more cerebral endeavors such as meditation or psychoanalysis or biblical studies.

Of course, beyond the self-help texts, the predominant message of our modern consumer society is that happiness is a thing or an experience that can be purchased or possessed. In a consumer society, we are what we possess; and, the more we possess and the quality of our possessions determine both our status in society and our personal level of happiness. And ultimate happiness in a consumer society is “being able to want and get that which we don’t yet have!”

After much reflection, I am convinced of only two things: happiness is a process, and happiness is made up of many different elements. Process: I think Aristotle was right when he said, “Never judge a person happy until they are dead.” For Aristotle, happiness was not an all-or-nothing state of affairs; it’s a continuum, a living event. Happiness has to be judged in the aggregate and not on any individual moment. Money is not the defining factor, but it is a necessary ingredient. So, too, is health, friendship, meaningful work, love, etc. Each one is critical, but each individually may not necessarily be enough.

Added to all of this are three vital factors. One: there is no single “recipe” that works for everyone. Two: happiness only comes to those who know when to be satisfied. Three: an obsession with happiness thwarts the actual achievement of it.

The moral to this essay is a modest one: seek happiness, but proceed cautiously!

This article appeared in the Summer 2015 issue of Loyola Magazine. Read more →

WGN Radio broadcasts live from Quinlan


Tune into WGN Radio (AM 720) on September 15 to hear its live broadcast from the new home of Loyola's Quinlan School of Business.

Update: Listen to the highlights from the WGN Radio broadcast, including a love song to Loyola and interviews with Interim President John P. Pelissero, PhD, and other Loyolans. Listen to the broadcast.

Loyola University Chicago is taking to the airwaves of WGN Radio, a top source of Chicagoland news, information, entertainment, and sports.

On September 15, WGN Radio's morning and early afternoon shows will be broadcast live from the lobby of the Schreiber Center, the new home of the Quinlan School of Business. More about the Schreiber Center →

Listen throughout the shows for special appearances by representatives of Loyola faculty, administration, alumni, and friends. See the schedule below.

Catch the show—in person or on the radio

Current Loyola students, faculty, and staff are invited to the Schreiber Center at 16 E. Pearson to join the fun, have a snack, and watch the broadcast in person from the Gorman Family Great Stairs in the lobby. From 8 a.m. to 10 a.m., we are serving donuts and coffee. From 12 p.m. to 1 p.m., come for cookies.

The entire Loyola community—and the city of Chicago—is invited to listen at AM 720, online at wgnradio.com, on the WGN Radio app, iTunes, and TuneIn.

Schedule for Tuesday, September 15

6 a.m.–10 a.m.

Steve Cochran Show
There’s no better way to start your day than the Steve Cochran Show, hosted by a hilarious radio legend. You’ll get news, sports, traffic, and weather, plus big names in politics appearing regularly and the best guests.

6:48 a.m. Pam McCoy, Associate Dean, Executive Degree Programs
Listen as Pam McCoy puts Steve Cochran through an admissions interview. Will he make the cut?
7:50 a.m. John Pelissero, Interim President, Loyola University Chicago
9:40 a.m. Troy Davis, Loyola Limited

12 p.m.–1 p.m.

Wintrust Business Lunch with Steve Bertrand

12:50 p.m. Kevin Stevens, Dean, Quinlan School of Business

1 p.m.–3 p.m.

Bill & Wendy Show
The Bill & Wendy Show is just the right combination of fun and serious, safe and dangerous, controlled and chaotic. It’s an informed conversation about the relevant and irrelevant topics of each day.

1:35 p.m. Eve Geroulis, Director, Integrated Marketing and Communication Program, Quinlan School of Business
2:05 p.m. Sean Connolly, Loyola Limited

Day of celebration

The WGN Radio broadcast on September 15 kicks off a full day of celebrations for the Schreiber Center. That afternoon, the Quinlan School of Business will host a CEO Summit and a Grand Opening Celebration, both featuring remarks by General Colin L. Powell, USA (Ret.). More →

Quinlan alumni are also invited to Alumni Open Houses this fall.
Undergraduate Alumni Open House →
Graduate Alumni Open House →

Quinlan named "Hidden Gem" for recruiters


College Recruiter recently recognized the Quinlan School of Business as one of the 12 “Hidden Gem Index” winners for 2015. This distinction identifies the top colleges and universities that employers look at for potential hires.

“They surveyed different employers and asked about which universities they preferred working with and why,” said Hassan Akmal, Business Career Services director. “Based on that feedback, Quinlan School of Business was identified as one of those universities that had something special about them, when it came to their recruiting methodology and experience with employers.”

Separating from the Rest

Akmal said it was a real honor for his team to be honored in such a competitive field. As part of the recognition, he and Wren Donofrio, assistant director of Business Career Services, participated in a webinar to discuss what differentiates Quinlan from other colleges and universities.

They covered topics ranging from career readiness to the dos and don’ts of recruitment. Watch the webinar below.

“One of our goals is to foster a university-wide career culture that celebrates success,” Akmal said. “And we can’t do that unless we know the success of our students. We want to hear about their stories. We want them to come back and talk with students and faculty.”

Another reason for his team’s success is programming. He said attractive programming pieces allow students to stay engaged. View the Quinlan events calendar.

Fall Business Career Programming

“We have, at the beginning of the school year, meet-and-greets with employers,” Akmal said. “And that’s part of our career culture. A student will walk onto campus and see employers from various industries setting up tables, just to meet and greet students.”

The meet-and-greets ran till mid-September. And that leads into Career Week, which is employers’ first opportunity to get a glimpse at Quinlan students.

“Career Week is an opportunity for students to hear from employers that are working in the various industries,” Akmal said. “We also have mock interviews and cover letter reviews, by employers. Students can hear feedback directly from employers.”

It’s also an opportunity for employers to get an idea of the students they’ll be meeting. Akmal said sometimes it’s easy for a student to overlook a particular company, so Career Week gives employers a chance to make more connections with students.

Following Career Week is the Career Fair, which begins Sept. 24. Last year’s fair had almost 80 employers with 500 students in attendance. According to Akmal, it was the biggest one in Quinlan history.

“This year we’re using the space in our new Schreiber Center,” he said. “And we’ve already registered enough employers to fill the room.”

Leading into November, employers will work with students—accepting resumes, holding interviews, and potentially extending offers for internships and full-time positions. And then the whole process is repeated in the spring.

“It’s a very robust schedule, which not every university has,” Akmal said. “Some universities are pushing just to get employers on campus. Luckily we have a full schedule, and we’re trying to do more events throughout the year.”

Want to register for career events or look for a job or internship? RamblerLink provides a one-stop shop for job searches, recruiting and more.
Visit RamblerLink →

CEO Summit puts focus on corporate responsibility


Paul La Schiazza, AT&T Illinois president, addresses the crowd at Tuesday’s CEO Summit on corporate social responsibility. “How we do business is just as important as what we do,” he said. (Photo: Natalie Battaglia)

Nearly 100 of Chicago’s corporate leaders attended a CEO Summit featuring General Colin L. Powell, USA (Ret.), and a panel of executives early Tuesday evening.

The summit kicked off Quinlan’s Signature Series of events

In addition to Powell, CEO Summit panelists were Shaun Budnik, KPMG, LLP, partner; Robert L. Parkinson, Jr., Baxter International chairman and CEO; Paul La Schiazza, AT&T Illinois president; and Edward Wehmer, Wintrust president and CEO. AT&T Illinois was the CEO Summit Investor.

The panel and guests discussed the impact of corporate social responsibility on business, government, and education, and the benefits to balancing shareholder and stakeholder interests.

“This is the core of Quinlan’s Jesuit-inspired commitment to social responsibility and ethical leadership,” said Kevin Stevens, Quinlan’s dean, during his welcoming remarks. “Discussions like this distinguish Loyola.”

2015 CEO Summit

Photo gallery: View the photos in the gallery above or on Loyola's Flickr page.

Panel ties responsibility to business success

In his remarks, La Schiazza said the summit’s focus on corporate social responsibility was important, timely, and to him, inspiring.

“That’s because how we do business is just as important as what we do,” he said. “Living up to the highest standards of honesty, integrity, and respect is the most important commitment we can make—to each other, our customers, our business partners and our shareholders.”

According to La Schiazza, good corporate governance is a necessary foundation for ethical and responsible business practices and directly relates to business success.

Powell focused on purpose, saying that every business needs to think beyond its business goals and consider how to improve the community around them.

“It can’t just be about making profits,” he said. “You have to embed corporate social responsibility in the DNA of the company. It has to be part of the lifeblood of a company, and it starts at the top.”

He stressed the importance of continued involvement, challenging businesses to “Get involved and stay involved.” To drive home the idea, Powell recounted the story of US Senator Ted Kennedy volunteering an hour of his time each week to read to elementary students.

Panel moderator Pamela McCoy, a Quinlan associate dean, asked panelists to discuss how industry, government, and academia can collaborate to positively impact the common good of our local and global communities.

“Schools need to focus on that social responsibility is just good business,” Wehmer said. “Your reputation takes years to build, but it can be lost in a second due to one bad decision.”

Parkinson, (BBA ’73, MBA ’75) and chairman of Loyola’s Board of Trustees, stressed that conversations between the different entities are critical, and he encouraged more dialogue among them. Budnik said there are many challenges to collaboration, including how government decisions on spending can negatively effect educational institutions.

A day of celebration

The CEO Summit was part of a full day of celebrations for the Schreiber Center, Quinlan’s new home on Loyola’s downtown campus.

  • Nearly 500 people attended the Schreiber Center Grand Opening Celebration, which also featured remarks by Powell. Read the story.
  • Among those in attendance at Tuesday evening’s gala were Chicago Mayor Rahm Emanuel and benefactors John and Kathy Schreiber. See the pictures.
  • WGN Radio hit the airwaves from the Schreiber Center. Hear a love song to Loyola—plus interviews with Interim President John P. Pelissero, PhD, and other Loyolans. Listen to the broadcast.
  • An advertising blitz declared Quinlan's new Schreiber Center "open for business." See the ads.

Hundreds come out to celebrate grand opening, honor alumni

2015 Schreiber Center Gala

Photo gallery: View the photos in the gallery above or on Loyola's Flickr page.

On September 15, nearly 500 people joined the Quinlan School of Business to celebrate its new home—the John and Kathy Schreiber Center—and to support scholarships for business students.

The Schreiber Center Grand Opening Celebration featured several special guests. General Colin L. Powell, USA (Ret.), gave the keynote remarks, and Chicago Mayor Rahm Emanuel offered his congratulations.

Two alumni—Ryane Bohm (BBA ’10, MBA ’12) and Benjamin Korallus (BBA ’12)—received Quinlan’s Emerging Leader award for their ethical leadership and commitment to improving society. (Watch the video below to learn more about Bohm and Korallus.)

All told, the event has raised a net total of $390,000 to support Quinlan and its students.

“The mission of our University, transforming students into men and women for others in the great Jesuit tradition, would not be possible without leadership from deans like Kevin Stevens, our expert and dedicated faculty, or the support of generous investors,” said John P. Pelissero, PhD, Loyola’s interim president.

Grand Opening Videos

The future begins at the Schreiber Center. Watch how Quinlan's new home encompasses innovation, community, and sustainability.

See why Quinlan honored young alumni Ryane Bohm and Benjamin Korallus with the Emerging Leader Award.

Speakers reflect on ethical leadership and new building

Quinlan dean Kevin Stevens welcomed guests to the Grand Opening Celebration by noting that the Schreiber Center “is no ordinary business school building,” as it supports innovative, collaborative, and cutting-edge education for the future’s responsible business leaders.

General Powell reflected on what makes a great leader and a great building.

“Great leaders give their people everything they need, and that’s what you’ve done here at Quinlan: you’ve given students everything they need.” said Powell. “The new facility gives you a great opportunity to realize your vision for the business school.”

A day of celebration

The Grand Opening was part of a full day of celebrations for the Schreiber Center, Quinlan’s new home on Loyola’s downtown campus.

  • Nearly 100 of Chicago’s corporate leaders attended a CEO Summit to discuss corporate social responsibility. Read the story.
  • Among those in attendance at Tuesday evening’s gala were Chicago Mayor Rahm Emanuel and John and Kathy Schreiber. See the pictures.
  • WGN Radio hit the airwaves from the Schreiber Center. Hear a love song to Loyola—plus interviews with Interim President John P. Pelissero, PhD, and other Loyolans. Listen to the broadcast.
  • An advertising blitz declared Quinlan's new Schreiber Center "open for business." See the ads.

Quinlan advertising blankets Chicago

Advertising blankets Chicago

Quinlan's new Schreiber Center was declared "open for business" in recent print, radio, digital, and television ads.

As part of the opening celebrations for our new Schreiber Center, ads for the Quinlan School of Business  appeared throughout the Chicago market on or around September 15.

Take a look at the ads below, which were all created or designed by Loyola. Click on the images to view a larger version.


Watch on YouTube.

WGN Radio Ads

 Dean Kevin Stevens on the Quinlan School of Business.

Dean Kevin Stevens on business ethics.

Crain's Chicago Business Ad

View larger version.

Chicago Tribune Ad

View larger version.

RedEye Ad

View larger version.

CTA: Chicago/State ‘L’ Station Takeover

Loyola University Chicago was the featured advertiser at the Chicago/State Red Line 'L' station, with all Loyola colleges and schools included on platform displays. The Quinlan School of Business ad is below.

View larger version.

A day of celebration

The advertising blitz was part of a full day of celebrations for the Schreiber Center, Quinlan’s new home on Loyola’s downtown campus, on September 15.

  • Nearly 500 people attended the Schreiber Center Grand Opening Celebration, which featured remarks by General Colin L. Powell, USA (Ret.). Read the story.
  • Among those in attendance at the celebration gala were Chicago Mayor Rahm Emanuel and benefactors John and Kathy Schreiber. See the pictures.
  • Nearly 100 of Chicago’s corporate leaders attended a CEO Summit to discuss corporate social responsibility with General Powell. Read the story.
  • WGN Radio hit the airwaves from the Schreiber Center. Hear a love song to Loyola—plus interviews with Interim President John P. Pelissero, PhD, and other Loyolans. Listen to the broadcast.

Listen to highlights from Loyola on WGN Radio


Interim President John P. Pelissero, PhD, was one of the featured Loyolans on the WGN Radio broadcast.

On September 15, WGN Radio's morning and early afternoon shows broadcast live from the Schreiber Center, the new home of the Quinlan School of Business.

Listen to the highlights:

  • Hear a rockin’ love song for Loyola, set to The Kinks classic ‘Lola.’ Listen
  • Interim President John P. Pelissero, PhD, talks about the new Schreiber Center. Listen
  • WGN’s Steve Cochran is looking to complete his degree, perhaps at Loyola. Listen
  • WGN’s David Kaplan comments on the state of Ramblers basketball. Listen
  • What did TV great Bob Newhart have to say about his alma mater? Listen
  • Loyola’s Pam McCoy interviews Steve Cochran for the Executive MBA program. Listen
  • Think you know Jesuit university trivia? Take Steve Cochran’s quick quiz. Listen
  • Junior Troy Davis discusses the student-run Loyola Limited businesses. Listen
  • Learn more about Loyola Limited from Sean Connolly and Ryan Kelly. Listen
  • Loyola’s Eve Geroulis answers the question: Is college worth the debt? Listen

View broadcast photos in the gallery below or on Loyola's Flickr page. 2015 WGN Live Broadcast from the Schreiber Center

A day of celebration

The WGN Radio broadcast was part of a full day of celebrations for the Schreiber Center, Quinlan’s new home on Loyola’s downtown campus, on September 15.

  • Nearly 500 people attended the Schreiber Center Grand Opening Celebration, which featured remarks by General Colin L. Powell, USA (Ret.). Read the story.
  • Among those in attendance at the celebration gala were Chicago Mayor Rahm Emanuel and benefactors John and Kathy Schreiber. See the pictures.
  • Nearly 100 of Chicago’s corporate leaders attended a CEO Summit to discuss corporate social responsibility with General Powell. Read the story.
  • An advertising blitz declared Quinlan's new Schreiber Center "open for business." See the ads.

A career kick-starting capstone

A career kick-starting capstone

Graduate student Dan Kreiser spent his summer interning at Abbott’s Chicago headquarters. (Image courtesy of Abbott)

By Kelsey Cheng | Student Reporter

Last spring, students in the capstone course for the MS in Supply Chain Management, were presented with a real-world challenge from a Fortune 500 company: help pharmaceutical and health care product company Abbott find a location for a manufacturing facility in Southeast Asia. 

The students knew that the graduate program had prepared them for this supply chain challenge, but they had no idea that the course would quickly kick-start several of their careers. Following the presentation, Abbott both followed the students’ suggestions and asked for their resumes for Abbott’s internship program. 

The global necessity 

John Caltagirone, executive director of Quinlan’s Supply and Value Chain Center and a Loyola alum, said no school in the Chicago area was doing end-to-end supply chain a few years ago. So he went to Father Michael J. Garanzini, S.J., who was the University’s president at the time, and recommended they create such a program—and from there the MS in Supply Chain Management was born. A year later, in 2013, the Supply and Value Chain Center was created. 

Caltagirone believes supply chain management must be thought of on a global scale, and when done properly, it can have a huge positive effect on countries around the world. “That’s why it’s important we have the right people doing these jobs,” he said.

In his courses, Caltagirone makes sure that sustainability and social responsibility are an integral part of the learning experience. He has his students look at the triple bottom line, also known as the three P’s.

“It is caring about people, which correlates to social sustainability; planet, which is linked to environmental sustainability; and profit, which is economic sustainability,” Caltagirone said.

A socially responsible classroom

The capstone course—and the Abbott project—drove home Caltagirone’s emphasis on socially responsible business practices. 

“Abbott told us over and over again how they are not interested in the most cost efficient method,” said graduate student Dan Kreiser. “They were interested in the methods that provide the best quality, so they can continue serving customers.”

Caltagirone gave his 16 students an overview of the project and provided some guidance, but the students determined roles for themselves and completed their tasks on their own. It was a teaching method that stood out to Kreiser. 

“It honestly is one of the most beneficial courses I took,” he said, “because Professor Caltagirone left it up to the student.” 

The class was divided into two teams, and each student had a peer in a parallel role on the other team. One team looked at Abbott manufacturing in Southeast Asia, and the other looked at outsourcing in Southeast Asia. 

As project manager, Kreiser served as the “go-between” to fill in the blanks as the project progressed. 

“My peers provided me with a unique opportunity to be a leader and they took their roles responsibly, and I’m proud to be a part of the program,” he said. 

A true Loyola experience

The students interacted with high-level management, including alum Keith Cienkus, vice president of Abbott’s diagnostic division. 

Abbott saw a bright future for Kreiser. Shortly after the capstone course ended, he interviewed and began an internship in Abbott’s Chicago headquarters. 

“Everyone is excited to work on projects and do their best,” Kreiser said, “and I think the capstone was the epitome of the Loyola experience because it was an opportunity to be a leader and apply that experience in the world.”

Quinlan Case Competition sees record number of participants


2015 Quinlan Case Competition Winners: Team Coast to Coast (Photo: Trung Nguyen)

By Travis Cornejo  |  Student reporter

“We came to win.”

That’s what Quinlan sophomore Rachel Taylor had to say at the end of the Quinlan Case Competition, an annual contest that puts undergraduate students’ problem-solving skills to the test before a panel of Loyola alumni and business leaders.  

Her team, Coast to Coast, returned for a second year of competition on Monday, October 5, and emerged victorious over a record-breaking 90 students from 23 teams.

The students had only four days to translate their classroom knowledge into a real-world business solution for a case focused on a sustainable supply chain for IKEA. 

The following teams were awarded cash prizes for their insights and recommendations:

2015 Results 
First Place Team:
Coast to Coast
Spencer Christensen
Jessica Mendez
Rachel Taylor
Austin Tolentino
Second Place Team:
Adriana Robles
Daniel Kong
Patricia Zhang
Third Place Team:
Alpha Team
Alexander Anagnostopoulos
Murat Aruta
Juan Martinez
Abigail Perez
Jonathan Skodras
Lawrence Metzger 
Award for Excellence*:
Case Closed
Philip Holle
Angelo DeMarco
Joanna Duda
Kevin McKay

* The Lawrence Metzger Award for Excellence recognizes the highest scoring team made up of all first-year or second-year students.

Preparing Tomorrow’s Business Leaders 

Quinlan’s case completion is unique as it is open to undergraduate students from every school and discipline. Quinlan Student Services Coordinator Alex See, who coordinated the competition, said that competitors ranged from one of the 11 business majors that Quinlan offers to students with majors in psychology, math, and English.

But the competition is especially valuable for business majors, as case analysis is quickly becoming a standard practice in job interviews.

The competition officially began on Wednesday, September 30, when students were provided with a 22-page Harvard Business School case study. Teams had to analyze IKEA’s growth in relation to a sustainable wood supply chain, and present their solution to the judges the following Monday.  

“We pick cases around themes that are strengths of the Quinlan School of Business,” See said. “This year, the case focused on sustainability, which is a university strength, and also around supply chain, which is an area where Quinlan excels.”

Competition Comes Full Circle

The Case Competition teaches business skills, as well as soft skills necessary for professional success. Asked what helped her team win, Taylor credited teammate Austin Tolentino’s leadership. 

“We had a fearless leader, who kind of pushed us to be the best we could,” said Taylor. “He was kind of the glue to the group. So when we wanted to give up, we didn’t. And the fact that we’ve worked together before really helped. I feel like most groups under this pressure would want to quit.”

For his part, Tolentino credits his team’s win to the feedback and support of last year’s judges. He said last year’s judges encouraged team Coast to Coast to participate again. 

Also returning to competition this year—but on the opposite side of the table—were judges Austin Nugent (BBA ’13) and Davi Aragao (BBA ’14). The duo was part of the winning team in the inaugural Quinlan Case Competition in 2012. Nugent is now a credit portfolio manager with Northern Trust, and Aragao is a FX trader with HC Technologies.

During the competition, the judges focused on the thinking and analysis behind the solutions presented by the students.

“When you’re judging, you see the people being nervous and just think, ‘It’s no big deal. We’re not actually here to judge you. We’re just here to hear your ideas,’” Aragao said. “Had I known that in 2012, I wouldn’t have been so nervous. It probably would have been a lot easier.”

Nugent noted that the discussion segment of the competition is a particularly valuable experience for students. 

“The Q&A portion is probably the most hated part by the participants, but that’s what the real world is,” Nugent said. “You’re going to come up with an idea, and people aren’t just going to look at you blankly and accept it. They’re going to challenge your theory, and they want you to be able to defend it. And that robust discussion is how new ideas are formed and how companies move forward.”

Photo Gallery

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

Quinlan Case Competition 2015

MBA students help develop new immersion course

MBA students help develop new immersion course

From left: Quinlan MBA students Lisa Marks, Kate Kasch, Justine Petcoff, Greg Lizak, Aggeliki Gikas, and Sarah Haque.

By Travis Cornejo  |  Student reporter

Six Quinlan MBA students went south for spring break—to the South American country of Colombia, to be exact.

But their spring break wasn’t a vacation. Instead, they crafted their own immersion trip to study Colombia’s developing economy, with the guidance of Professor Cliff Shultz, Kellstadt Chair of Marketing. And following the success of the trip, they’ve opened the door for future Quinlan students to participate in the development of immersion-style courses.

“Our tagline here is ‘Preparing students to lead extraordinary lives,’” Shultz said. “Well, I thought, why don’t we actually give students the opportunity to co-create the class and to actually go lead an extraordinary life.”

A Class from Scratch

The six students—Aggeliki Gikas, Sarah Haque, Katherine Kasch, Gregory Lizak, Lisa Marks, and Justine Petcoff—first got a taste for immersion-style learning after taking Shultz’s class, MARK 561, Comparative Consumer Behavior and Marketing in Southeast Asia, in 2014.

In the class, the students learned about the emerging and developing economies of Vietnam, Cambodia, and Thailand. Following their time abroad, a subset of those students asked Shultz to develop another immersive learning course to continue their studies.

Soon, Shultz was meeting with the students on a regular basis for discussions on developing and emerging economies. While back in Chicago, the students met more than two dozen times to discuss related books, journal articles, and government documents.

“We assembled readings, links and other materials, organized guest lectures, and discussed various challenges, opportunities, commonalities and differences pertaining to emerging economies,” he said. “Eventually I said, ‘You know what? You’ve impressed me with your commitment to this. If we can collectively decide on a country, we’ll go there.’”

They looked at countries from Myanmar to Kenya, before eventually agreeing on Colombia, for a number of reasons. One such reason was classmate Pedro Navas, a Colombian national enrolled in the Quinlan MBA program, and his professional connections within the country.

“Pedro was a real champion for Colombia,” Shultz said. “He had a good network on the ground. And I felt to go to this place, we would want some reliable contacts, some network on the ground, to make our time there efficient and productive.”

Shultz also had contacts in the country that helped facilitate a successful trip. Haque said once the pair put word out that they were interested in researching Colombia’s economy, they received an “incredible, overwhelming” response.

“I think the idea that a group of six MBA students wanted to visit and to study their country, somehow incited a great amount of excitement from everybody,” she said.

And for Marks, she said the content of the course they created was amazing.

“But the other thing that was a fantastic experience was how we truly created this from scratch,” she said.

A Full Agenda

The students wanted to choose a country in the Western Hemisphere so they wouldn’t lose any research time to jet lag. Once they arrived in Colombia, they hit the ground running, often scheduling themselves from 5 a.m. until midnight.

According to Marks, the group met with scholars from universities including Pontificia Universidad Javeriana, leading economists in the Colombian National Federation of Coffee Growers, and Colombia’s official brand manager.

“We were able to be upfront and talk to everybody about what changes are taking place and how things need to improve,” Haque said. “We also talked about what kinds of things Colombians would like to see for their country and what their existing struggles are.”

According to Marks, visiting Colombia and learning directly from its people was a fantastic opportunity. After working throughout their entire spring break, the group presented Shultz with a synthesis of their trip, discussing what moved them personally, intellectually, and emotionally.

Further, the group presented their findings for the Faculty Center for Ignatian Pedagogy and at the international Macromarketing Conference in June.

A Blueprint for Success

“In its current form the ‘course’ is entered into the students’ records as ‘Independent Study,’ Shultz said. “We want to go forward based on this general model of giving our best and brightest the opportunity to create, to design, and to conceptualize another immersion-type course; the location could be Colombia, or it could be someplace else, based on the interests among faculty, students, and people on the ground.”

“It’s the kind of course, or honors seminar, that not many people or institutions could pull off,” Shultz said. “But because we’re a Jesuit university, with some exceptionally talented students, and we’re part of a strong international network of Jesuit universities, we think we have that network in place and a set of shared values that could enable similar transformative experiences to happen regularly and very well.”

MBA student wins diversity leadership award


Quinlan MBA student Marvin Mathelier (Photo: Natalie Battaglia)

By Travis Cornejo  |  Student reporter

This summer Quinlan MBA student Marvin Mathelier was selected for Diversity MBA’s Graduate Student Leadership Award, picked from a pool of 100 qualified candidates.

“Marvin has demonstrated exceptional leadership skills and truly epitomizes the leadership characteristics [this] award seeks to recognize,” said Quinlan Assistant Dean Katherine Acles, in a letter to the selection committee. “We believe he is worthy of this recognition.”

As one of the five award recipients, his profile will be published in Diversity MBA’s “Fall Leadership” issue, and he was honored at the 9th Annual Leadership Conference & Awards Gala in Oak Brook, Illinois.

Choosing Quinlan

Mathelier, the son of Haitian immigrants, was born and raised in Brooklyn. As an undergraduate, he attended Norwich University, a small military college in Vermont. Following graduation, he joined the United States Marine Corps, deploying to Afghanistan.

“Once I got back, the Marine Corps gave me an opportunity to come to Chicago to be a recruiter,” he said. “During those two years as a recruiter, I thought it would be a great opportunity for me to look at getting my master’s degree.”

He then decided to apply for business school and quickly found Loyola University Chicago and Quinlan School of Business were the right fit.

“Loyola fit my values,” Mathelier said. “The biggest thing about the military is we need ethical leaders. You can be proficient as a leader, but once you compromise your values and once your integrity is being questioned, that can hurt you for the rest of your career. I love how Loyola focuses on being an ethical leader. That’s why I decided on Quinlan.”

Student Involvement

He began at Quinlan in November of 2012, and he later became involved with the Quinlan Graduate Business Association, serving as president of the organization last year. According to Acles, the QGBA is the focal point for student interaction at Quinlan, hosting monthly networking and social events, sponsoring speaker forums, and other student activities.

“His leadership skills are exemplary and his results were outstanding,” Acles said. “Under Marvin’s leadership, student engagement has grown significantly.”

Assistant Director Mark Law adds, “On a personal level, Marvin is a warm and caring individual who seeks to connect with and collaborate with others. Marvin is the type of person that others look up to. He is dedicated to whatever endeavor he is pursuing. We are proud to have him part of the Quinlan community and celebrate his achievements with others.”

Mathelier’s quick to give credit to other members of his QGBA executive team, including Vice President of Events Emmanuelle Escandar and Executive Vice President Melissa Krot.

“They did a phenomenal job,” he said. “I had the guidelines and vision, but they just ran with it and pushed things through. They are great leaders as well.”

He said he also appreciates the support he received from Acles and Law. They gave his executive team the chance to take risks and try out new ideas.

“That gave me a whole new respect for Quinlan,” Mathelier said. “Because that’s what business school is about. If you have a new product or plan, and it’s a sound plan, you’re hoping your boss will say, ‘I’ll give you a chance to run with it and take that risk.’ That’s a sign of mutual respect.”

Looking Ahead

And that mutual respect from administrators is part of the long list of things he’ll miss about Loyola and Quinlan when he graduates this November, after three years of classes and working full-time.

“When I realized this was my last quarter, I was good to go,” he said. “But I was sitting in class the other day, thinking about the quality of the professors and facilities, when I realized I’m going to miss it. Quinlan has a great future, and I’m jealous I won’t be able to take classes past November.”

Accounting for fraud in Back to the Future


Marty McFly faces the consequences of participating in an illegal transaction. View the video below.

By Nitin Bhojraj, Quinlan Instructor

Most auditing and forensic accounting courses feature class time devoted to examining cases like Enron, Bernie Madoff, etc. However, there is one fraud that I have been studying for over 25 years which is rarely featured in class discussions. Perhaps the reason behind this is that, as of the publication of this article, it theoretically has not even occurred yet.

In the classic film Back to the Future II, we see a glimpse into Marty McFly’s future, when on October 21, 2015, he faces an ethical dilemma.

His co-worker, Douglass Needles, applies some verbal pressure and promises of wealth if Marty participates in an illegal transaction. Sure enough, Marty gets caught by his supervisor and immediately gets fired. Despite occurring in a fictional universe, this fraud is one that new accounting graduates can apply to their first few years of real world experience.

While it is important for recent accounting graduates to study what went wrong at Enron and with Bernie Madoff, it is unlikely that they will need to verify the existence of special purpose entities, or analyze the ratio of options used to the worldwide availability of those options in a $50 billion hedge fund scheme. Many individuals with years of experience in forensic accounting have never even done this type of work.

Handling Forceful Pressure

What everyone has likely faced, especially early in their careers, is some type of forceful pressure. In the previous example, Marty is coerced into participating in the illegal transaction. A beginner municipal auditor may be told by a manager to ignore cost overruns for the construction of a new clock tower to keep local politicians happy. The inexperienced tax preparer may be instructed by a dominant boss to declare a certain amount of gambling winnings, even though he or she knows that the client must have won more.

All of these are pressures, in some way, shape or form, that a new accounting graduate are much more likely to face, as compared to the Enron-type scandals. Pressures like this are not easy to handle, especially for a new graduate who may have tons of student debt and does not want to go through another round of a months long job search. But what decision would a new graduate make when it turns out that complacency or participation will lead to committing a fraudulent act, and what happens when that fraud is ultimately discovered?

All too often, when we see news stories related to corporate misdeeds, it seems like companies do their best to protect those in the highest echelons of the company structure while placing blame on those at the very bottom. If a company is going to spend thousands of dollars on legal representation, it only makes sense that those lawyers will defend those at the managerial level, and not the first year employees who inadvertently got caught up in something. After all, how often does an intern get blamed for some type of financial malfeasance that must have involved some type of managerial approval?

Documenting Fraud

So what should young people in these situations do to protect themselves? Unfortunately, like many things in life there is no one size fits all checklist, as each situation will involve a unique set of facts. Their first instinct may be to run out of there at 88 miles per hour. In some cases, this may be the correct course of action. On the flip side, perhaps no action is required at all.

Before choosing either of these alternatives, or something in between, the individual needs to take time to assess as much information as possible. Maybe he or she should ponder the following questions:

  • Who are the potentially affected parties involved?
  • What are the dollar amounts involved, if any?
  • Are there any laws, standards, or codes of conduct that are being broken if I choose a certain course of actions?
  • Is this course of action ethical, both in fact and appearance?
  • Has this happened before, either at the same company or elsewhere? If so, what were the results and can I speak with someone who was involved?
  • Would I feel comfortable telling this to my mother, my father, or even my Uncle Joey?

These questions are not an exhaustive list, but more of a starting point. In some cases, the individual may not be able to come up with all the answers. That is okay. If that happens, then it is important for the individual to seek advice from another individual, such as a trustworthy person within the company, an independent third party, or even an attorney. As scary as attorney fees may seem to a recent accounting graduate, an hour-long meeting may cost you years of fees, stress, and heartache if it turns out they had any type of role within a fraud.

Upon collecting all possible information, from asking the above questions and seeking the advice of others, it is important to weigh and reflect upon all possible outcomes. What repercussions will be faced with each alternative? Will one course of action result in getting his or her name published in the local paper with the word “commended,” while the other course of action result in the same picture in the same paper next to the word “committed”? Assimilating all this knowledge will hopefully result in a well thought out decision that is best for all parties involved.

Finally, no matter what course of action the individual chooses, it is important to document anything and everything. Like many things in the accounting world, it is good to have the mindset that every assertion made needs to be supported, especially if it could potentially come up in a courtroom setting. If there was an e-mail where a supervisor attempts to apply pressure, then save a printed copy. If there was a conversation where a seemingly unethical course of action was suggested, document it by writing the date, time, location, people present, and what was said.

However, if things have reached this point that it appears necessary to document such things, consult with an attorney to verify that keeping records of this information does not violate any laws. Furthermore, if the documentation may be needed in litigation, ensure that steps are taken so it is admissible in court.

Unfortunately, taking advantage of the naiveté of new employees is nothing new. It happened in 1885, just like it happens in 2015. If you are new to the workforce and find yourself at an ethical crossroads, remember that unlike Marty McFly, you cannot go back in time to change your future.

When Nitin Bhojraj, CPA, CFE, is not teaching Forensic Accounting and Fraud examination at the Loyola University Chicago Quinlan School of Business or for the Becker CPA Review, he enjoys hover boarding over water.

New Quinlan degree program spans continents


Ignacio Garrido Cruz (second from left) is part of the first cohort of Universidad Loyola Andalucía students in the Double Degree program.

By Travis Cornejo | Student reporter

Two business degrees, two continents, three countries. All in four years.

That’s the promise of Quinlan’s newest undergraduate degree program. The U.S./Europe Double Degree program offers students the unique opportunity to earn a U.S. bachelor’s degree from Loyola University Chicago and a bachelor’s degree from Universidad Loyola Andalucía in Spain.

Students in the program will gain a deep understanding of both American and European business through two semesters in Seville, one semester in Rome, and five semesters in Chicago

Work in the European Union

Loyola University Chicago is one of the only U.S. universities that offer this degree option.

“This program is for students who think they may want to work in the European Union,” said Susan Ries, assistant dean for undergraduate programs. “This degree is their credential from the get go. Without sponsors, it may take an American years to become credentialed and fully employable in Spain. The double degree gives a student the ability to work in the EU right after graduation.”

Ries said the double degree program is also a good option for students who think they want to study abroad for more than the typical single semester. An added perk of the program is that students will have guaranteed admission into the John Felice Rome Center for the semester they’re scheduled to study in Italy.

Loyola’s Quinlan School of Business is now recruiting the first cohort of students from the current freshmen class, and for the second cohort of students from the fall 2017 applicants. Students do not need to know Spanish at the outset of the program. However, if a student does not have the level of fluency of at least one full year of college study in Spanish, they may have to go through a Spanish language immersion program prior to studying in Spain.

Susan Ries with Andalucia students

Assistant Dean Susan Ries addresses the cohort of students from Universidad Loyola Andalucía. (Photo: Mark Patton)

The Student Perspective

While Quinlan recruits its first cohort, the first 16 students from Universidad Loyola Andalucía arrived in Chicago this fall. Among those students is Ignacio Garrido Cruz.

“I think the Double Degree program is a great opportunity both for Loyola Chicago students and Loyola Andalucía students,” Cruz said. “It’s a mind opener. In four years, you get degrees recognized by both continents. I know when I finish I’ll have a wide range of possibilities. I’ll probably work in the States for a few years, as I’d like to experience the U.S. work culture.”

But that’s not the only benefit, he said. A student will be exposed to three different languages in four years.

“I bet that if you’re living with a host family in Spain, totally immersed in the culture and language, you’ll probably know a lot of Spanish by the end of the year,” Cruz said. “And if you know Spanish, Italian is really easy. So in four years, you get two degrees, three languages, and three countries.”

Although American students won’t head to Universidad Loyola Andalucía until the fall of 2016, Quinlan did send a trial balloon last spring when senior Ally Ryder became the first Loyola Chicago student to study abroad at Universidad Loyola Andalucía.

Ryder, an International Business & Finance major, spent a semester taking classes alongside the Universidad Loyola Andalucía students who are now in Chicago. For her time abroad, she wanted a truly immersive experience. She said it was a great chance to not only “drastically improve” her Spanish and learn more about international business, but it was also an opportunity to travel across Europe.

“And, if anything, I’d say I felt more connected to the Jesuit values while abroad,” Ryder said. “We as individuals made the choice to come to a Jesuit school. So when you’re having everyday conversations with the [Universidad Loyola Andalucía] students, you always end up mentioning some social justice issue or how you want to make a difference in the world around you.”

Apply now! Incoming Loyola students and current Loyola freshmen are encouraged to apply to the program. Contact Susan Ries at Sries@luc.edu to learn more.

Quinlan students win big at national marketing competition


“Oriental Pearl” (pictured), which included Ruimin Gong, Xiaoqi Lu, Lingfan Ni, and Fan "Rachel" Pan, and team “3 and ONE,” which included Xuanrui “Connie” Chen, Lauren Lakomek, Jianghui Wen, and Shuwei Zhao, took home national marketing honors.

By Travis Cornejo | Student reporter

Several Loyola students took top honors at a national marketing competition over the summer.

The 2015 Collegiate ECHO Marketing Challenge asked students to create an integrated marketing campaign promoting DirectTV’s Refer-a-Friend program. The budget: $1 million. Hundreds of students from dozens of universities competed for top honors and recognition.

At the end, two Quinlan teams rose to the top: Team “Oriental Pearl” placed second among the field of graduate student teams. Team “3 and ONE” received an honorable mention for their creative strategy.

Both teams of students were in professor Mary Ann McGrath’s Integrated Marketing Communications Campaigns class. 

“It’s a national competition, and when we participate in it, we do very well,” McGrath said. “The contest challenge utilizes all the expertise they have developed throughout their MSIMC degree program.”

“3 and ONE” team member Xuanrui “Connie” Chen agreed that Quinlan prepared her team to succeed in this competition—and the business world.

“What I really like about Quinlan is we got a lot of opportunities to work with real companies and solve real problems,” she said. “Nearly all of my assignments were proposals like this. What I’ve learned in different classes all empowered me in different aspects of marketing.”

Winning Ideas

The “Oriental Pearl” team targeted costumers 35 to 50 years old, who live in urban centers, and earn between $50,000 and $100,000 annually. Their strategy emphasized personalized offers and a social media effort directed at customers.

Team “3 and ONE” proposed a “Click Clique, Catch Cash” program. The campaign included an online contest, a direct-mail campaign, and a television commercial.

“I think what worked was it was cutesy and catchy,” Lakomek said. “It was something that would stick with you. And the way our video worked, there were a lot of auditory cues. People won’t forget it when they see the commercial.”

She credits an earlier class in media planning with helping her team craft a successful presentation. To show DIRECTV what their return on investment would be, they used a media-forecasting funnel, a tool she learned about in an earlier Quinlan class.

Teamwork and a Tight Turnaround

According to McGrath, because Quinlan’s graduate winter quarter begins in mid February, students had to “hit the ground running” to do well in the competition. Most teams start in January to meet the competition’s April deadline.

“The hard part was the lot of different components of the campaign,” Lakomek said. “It wasn’t just creative or a media plan—it was all encompassing. But as a team we thrived under the pressure of a looming deadline.”

Team “3 and ONE” relied on online collaboration to put together their presentation, as most team members also had full or part-time jobs on top of their normal course load.

“Imagine the four of us, from different places with different characteristics, sitting there talking to each other and throwing out different ideas,” Chen said. “But the next always improved the one before, so it got more and more effective, and creative, and we got more and more excited.”

“To run with this huge campaign and be successful, that’s a testament to the preparation we get in this program.”


Managing a $800,000 portfolio—as a student


Joseph Caucas, a finance major and member of the Rambler Investment Fund, works on a Bloomberg Terminal at Quinlan. (Photo by Heather Eidson)

By Anna Gaynor | Copywriter

Investment and portfolio management isn’t just for Quinlan School of Business students anymore. Or at least that’s what the Rambler Investment Fund hopes Loyola students take notice of.

RIF gives students real-world investment experience by allowing them to invest actual money in financial assets. What originally began as a class officially became a student organization in spring 2015, but unlike most clubs, RIF manages an endowment of roughly $800,000 specifically designated for students to invest with.

“That’s what’s great,” Rick Osty, a finance major and co-founder of RIF, said. “I wouldn’t call this simulation. It’s the real thing. It’s live ammunition.”

Open to undergraduate and graduate students across Loyola, RIF puts students in the roles of portfolio managers. This position bestows many of the same responsibilities including developing equity research reports on company stocks and opportunities worth investing in. Students then deliver a pitch to their advisors, Steven Todd, associate dean of faculty and research at Quinlan, and Eric Jones, treasurer and chief investment officer at the University.

“We saw it as an opportunity to share that with other Loyola students—creating a student-managed investment fund, where they can come in, do the research, generate ideas, pitch those ideas, and be a little competitive and comparable to other top universities,” Joseph Caucas, a finance major, said.

That type of independence is something Todd plans to keep fostering in the organization as faculty advisor. Not only is the club giving students the chance to stand in the shoes of a portfolio manager, but they also get something else—the opportunity to fail.

“I feel it’s really important that the students learn from their mistakes and actually experience what it’s like as a portfolio manager to make a bad choice—or to make a good choice—and to track that through time.”

Firsthand Experience

This past semester, he and Jones heard about 20 equity pitches from students, some good, some not quite as good. When it came time to decide which would get the funding they asked for, the two decided to give it to all of them.

“I can’t guarantee that every year I will fund every pitch,” Todd said. “But we did want to do this the first year to get them invested in the idea that it’s important they work hard because if they don’t work hard and they make mistakes, the fund will suffer.”

While Todd admits that he will try to persuade students away from bad investments, he hopes that down the road he will be able to take a step back from the decision-making process and allow the student executive committee to choose what gets funded and what doesn’t.

If it sounds like a lot of responsibility for students, it turns out to be a welcome one. For many, this is their first introduction to investing and finance.

“When you’re a student coming to an organization like this and you start actually doing things and pitching ideas—if your ideas don’t really work out the right way, you can be grinding your teeth a little bit,” Osty said. “Meeting with Todd and Jones, it’s just like any type of internship or job. They’re very serious individuals when you meet with them. ”

The reports take more than just figuring out profits and earnings, according to Dan Yara, an accounting major and member of the fund.  It also means understanding what all that information means. Something like the number of locations a store shutters might be relevant and affect a stock negatively, or it could mean nothing at all.

Firsthand Responsibility

For him, it’s this very real accountability that sets RIF apart from other clubs.

“It’s not like your normal club, where you go to a monthly meeting and then you kind of just forget about it,” Yaras said. “It’s not a resume filler. It’s just a very different club in the way it’s structured.”

That structure, as well as the networking events and workshops led by Todd, is giving Caucas, Yara, and Osty invaluable experience for their careers down the road. Yet, even those who aren’t looking for a professional life in the portfolio management world will still be able to find something worthwhile.

“If you gave me any major right now, I could probably find a way to plug them into the investment club and give them a route they could do that would be extremely beneficial to the club,” Osty said. “Even for medical majors, biotech is a huge industry. We’re always interested in anybody who has an interest in their passion as well as investing in financial markets. We’d love to pair them up.”

Illinois Family Business award winners 2015


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 22nd Annual Illinois Family Business of the Year Awards. The awards program recognizes exceptional Illinois-based family businesses that demonstrate a strong commitment to business development, family, and the greater Illinois community.

An awards gala honoring the winners and finalists, as well as the tradition, dedication, and success of the family enterprise, will take place on Thursday, November 19, at 6:30 p.m., at The Four Seasons Hotel Chicago. The gala is also part of a yearlong celebration of the Family Business Center’s 25th anniversary.

2015 award winners

The 2015 Illinois Family Business of the Year awardees are:

  • Small Family Business of the Year: Carl Becker & Son Ltd.
  • Medium Family Business of the Year: Flood Brothers Disposal & Recycling
  • Large Family Business of the Year: O’Neil Industries Inc.
  • Community Service Award: Mariani Enterprises
  • Dean’s Award: Dot Foods Inc.
  • Century Award: Matot Inc.

The annual awards drew nominations in six categories: small (companies with fewer than 50 employees), medium (50 to 250), large (more than 250), community service, dean’s award, and century award. Award winners have all demonstrated positive family/business linkage, multi-generational family business involvement, contributions to industry and community, and innovative business practices and strategies.

“The Illinois Family Business of the Year Awards program gives us the opportunity to celebrate the incredible contributions of family business to our communities and our economy,” said Andrew Keyt, executive director of the Loyola Family Business Center. “We are pleased to honor these dedicated families and their businesses as part of the Family Business Center’s 25th anniversary celebrations.”

Sponsors for this year’s awards gala are: BMO Harris Bank, Katten Muchin Rosenman LLP, Grant Thornton, KPMG, MassMutual Hoopis Financial Group, MB Financial Bank, Oxford Financial, Perkins Coie, U.S. Bank Private Client Reserve, Crain’s, and Eli’s Cheesecake.

For more information on the awards, including a list of past recipients, and to purchase tickets for the awards gala, please visit LUC.edu/fbc.

About the award winners and finalists

Small Business Category: Carl Becker & Son Ltd.

For many luthier (people who make or repair string instruments) passion, skill and talent have been passed down through families, from generation to generation. Carl Becker & Son Ltd., originated in the early 1800’s by Herman Macklett, and has since grown and thrived in the hands of five generations of Beckers. Most recently, the daughter of current president Paul Becker is eager to learn the luthier trade.

Lake Forest Sportscars

Medium Business Category: Flood Brothers Disposal & Recycling

Founded in 1930 by Joseph Simon Flood, and offering customized waste removal solutions for both residential and commercial customers, Flood Brothers Disposal & Recycling started with just one truck, just one employee, and just one simple philosophy: “Provide a great service at a fair price.” Eighty-five years and five generations later, this family-owned and operated organization has updated its trucks and technologies, and expanded its operations. Today, Flood Brothers boasts a base of more than 100 employees who, guided by Joseph’s founding philosophy, provide cost-effective, solution-specific services to over 150 communities in the Chicagoland area.

FONA International
The Resicom Group

Large Business Category: O’Neil Industries

William E. O’Neil founded W.E. O’Neil Construction Co. in 1925 to be a Chicago and Northern Illinois builder. Soon after its inception, the company was asked to construct five buildings for the Chicago World’s Fair Century of Progress. Now in its fourth generation of family management, O’Neil Industries is a nationally recognized company, with subsidiaries in six states. Staying true to the company motto, “Building Great Relationships,” O’Neil Industries places the utmost value on their people, their customers and their shareholders.

Graycor Inc.
Mariani Enterprises

Community Service Award: Mariani Enterprises

Mariani Enterprises has had deep roots in the landscaping industry since the early 1900s. Formally established by Vito Mariani, Sr., in 1958, the organization is now led by its second generation, and is comprised of three separate companies and 600 employees. Keeping family as their foundation, they pursue perfection in themselves, their projects, and their processes.

Capannari Ice Cream
Imagineering Inc.
Louis Glunz Beer Inc.

Dean’s Award: Dot Foods

Robert Tracy founded Dot Foods with the support of his wife Dorothy in 1960. Since then, Dot Foods has operated by the same set of values: trusted values, innovative solutions, and shared growth. These values have helped Dot Foods become the nation’s largest food redistributor, with more than 109,000 products delivered in less-than-truck-load quantities to distributors in all 50 states and 25 countries.

Century Award: Matot Inc.

In 1888, a master carpenter named Duffy Matot founded Matot Inc. on the north side of Chicago. Duffy’s vision was to provide refrigeration equipment and functional dumbwaiters to the many taverns and shops throughout the area. As the years passed, Matot grew along with the city, meeting the demands of the rapidly burgeoning population and productivity. Today, Matot’s modern facility houses the latest in lift solution technology and the company services clients in the U.S. and worldwide.

Supply Chain Summit draws a crowd


Supply chain professionals and leaders explored how to build sustainable and socially responsible supply chains at Quinlan's Chicago Supply Chain and Sustainability Summit in October 2015.

About 400 guests and more than 100 companies attended the 4th Annual Chicago Supply Chain and Sustainability Summit hosted by the Supply and Value Chain Center at Loyola's Quinlan School of Business.

Speakers ranged from U.S. government officials to leaders of multinational companies. Topics included sustainability communication, optimal supply chains initiatives, financial advantages to sustainable operations, supply chain education, and international logistics.

The event ended with a networking reception in Quinlan's new home, the Schreiber Center.

2016 Summit: Mark your calendars for Monday, October 17, 2016, in Chicago. For details, join the Center mailing list →

Event photos

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

Supply Chain and Sustainability Summit 2015

Learn more

Quinlan study affirms growing trend toward sustainability


A recent study found 51 percent of North American supply chain executives currently consider developing a sustainable supply chain as a strategic priority. The study was conducted through a partnership of Quinlan’s Supply and Value Chain Center, West Monroe Partners, and BearingPoint. 

The study also found that improved competitive advantage and brand image are key motivators for the companies planning to implement sustainability initiatives. Of the companies questioned in the study, 36 percent have plans to incorporate sustainability into their operations. And of that group, 22 percent plan to do so in the next one to three years. Download the full study here. 

The Supply and Value Chain Center consulted with West Monroe on the survey design and helped drive respondents to the survey. West Monroe became a member of the Center in 2014.

Sustainability driven by consumers

According to John Caltagirone, executive director of the Supply and Value Chain Center, sustainability and social responsibility are topics on everyone’s mind and are key areas for every modern business. For him, it’s important for Quinlan to have a finger on the pulse of business, which spurred him to participate in the study.

“The study validated some of my thinking about sustainability,” he said. “Ninety percent of my job has me out in the field, talking with companies and listening to what’s important to them. The results match what I’ve been hearing informally about the importance of sustainability.”

A prior West Monroe sustainability study found more than half of North American consumers were willing to pay higher prices (at least 5 percent higher) for products ordered online, if they were delivered sustainably. And 76 percent would allow an extra day of shipping if it meant including climate-friendly transport.

In order to better understand how North American companies incorporate sustainability practices, the results were compared against European data from a prior BearingPoint study. The numbers showed 59 percent of European companies placed a strategic priority on developing a sustainable supply chain.

And like their North American counterparts, European supply chain executives cited “brand image improvement” as their key motivator. However, European executives place a higher importance on the economic impacts of sustainability, versus North American executives, who place a higher importance on environmental impact.

However, some companies find that sustainability can be difficult.

“It’s telling that more companies aren’t implementing sustainable business practices in their operations given the demands of customers,” said Yves Leclerc, managing director at West Monroe Partners. “Most supply chain teams are struggling to manage the complexities of globalization, the war for talent, and increasing demands so allocating budget and resources towards sustainability doesn’t seem feasible unless companies can put together a business case for the return on the investment.”

Learn more

Press Mentions

The study was featured in several supply chain publications:

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 great business professionals at the conference. And attending the conference itself was a great opportunity.”

Nowak said the team will be ready to return next year for a win.

“This year we had double the interest of any other year,” he said. “It’s been great, and I think part of it is because the supply chain program is growing and people are more interested in it. We’re expecting that we should be able to field two teams next year.”

Learn more

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.

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 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.”

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 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.

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.”

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.

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.

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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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 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. 

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.

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 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.

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 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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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 →

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 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.

Learn More

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.”

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 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.

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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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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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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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.

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.

Learn more 

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


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 →

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.

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


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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.

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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.

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 →

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

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.

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 tal