Global thinking
If events in the global economy have taught us anything in the past
year, it is that the world’s economic health is indelibly interconnected
and interdependent. Jerry Hass remarked on this at the
3rd Annual Alumni Awards Recognition Dinner in New York in
January, when he discussed diversification strategies investors can
employ to minimize volatility in stock portfolios. “In bad times,
stocks tend to go down together,” he said, adding, “The benefits of
international diversification are minimal in today’s global economy
and financial system.”
This interconnectedness means today’s corporate leaders cannot
operate effectively without understanding differences in business
practices and cultures around the world. It also underscores the importance
of incorporating a global outlook into an MBA education.
In the decision making they’ll encounter in their careers, MBAs not
only must be able to run the numbers; they also have to think
about socio-political impacts and developments in different
parts of the world.
Recognizing this, the Johnson School has built an
international outlook into its curriculum and culture.
International full-time and exchange students
contribute unique experiences and perspectives to
class discussions and team projects. International
study trips enable students to visit a variety of
industries, meet with alumni, and, even collaborate
on projects with students abroad. Exchange
programs for residential MBAs enable them to
experience other cultures directly, as do global
projects for our Executive MBA students.
Our new global faculty have augmented our
international course roster by adding Emerging
Markets Finance and Cross-Cultural Management.
This spring, we have been proud to
welcome distinguished global speakers Andreas
Degenhardt, global CEO of application management
at Siemens AG - IT Solutions & Services;
James Bond, COO of the Multilateral Investment
Guarantee Agency (MIGA); and Joe Saddi, global chairman of Booz & Co.
We also emphasize the importance of molding
“global” thinkers in the broader sense: We lay the
groundwork by making sure they have the basics
covered at the outset — marketing, accounting,
statistics, finance, economics, and strategy. Together,
through performance learning, they apply these tools to complex, real-world problems and situations. By the time they
graduate, they’re ready and eager to meet the challenges inherent in
leading and managing.
Our alumni know how well prepared our graduates are; that’s
why so many of you rolled up your sleeves in 2009 to help them
find jobs in this challenging economy. On graduation day in May
2009, we were significantly below our typical employment rates at
graduation. We remained committed to working with the class and
by January, thanks to the direct involvement of our Advisory
Council and the efforts of so many alumni, that figure was
up to 94 percent. Although 2010 is similarly challenging,
we are taking new and aggressive action and expect employment
for the Class of 2010 to be over 90 percent by
September 2010, a return to our usual high rates. Thank you for telling us about job openings and
mentoring our students through JS-Coaches.
We also continue to focus on job opportunities
for alumni in this difficult period.
I’m proud to report that the Johnson
School continues to attract stellar students
to all four programs; our incoming classes
are outstanding. In spite of this economy, as
of March, our Annual Fund was well ahead
of last year both in terms of donations and
participation, allowing me to add resources that
are needed right now, to improve the academic
program and our placement activities for resident
students and EMBAs.
Thank you for all that you do for the school
and for each other. Please stay in touch with news
about yourself and your ideas for us, and best wishes
for health and success.
L. Joseph Thomas
Anne and Elmer Lindseth Dean
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