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Revision as of 04:11, 24 October 2019

Stephen M. Ross School of Business at the University of Michigan
File:Ross School of Business logo.png
MottoDeveloping leaders who make a positive difference in the world
TypePublic
Established1924
Parent institution
University of Michigan
Endowment$435 million[1]
DeanScott DeRue[2]
Academic staff
210[3]
Undergraduates1,422
Postgraduates1,873
Location, ,
U.S.
Alumni46,000
AffiliationsUniversity of Michigan
WebsiteMichiganRoss.umich.edu
File:Ross School of Business, University of Michigan.png

The Stephen M. Ross School of Business (Ross) is the business school of the University of Michigan. Numerous publications have ranked the Ross School of Business' Bachelor of Business Administration (BBA), Master of Business Administration (MBA) and Executive Education programs among the top in the country and the world.[4][5][6][7][8]

The school offers bachelor's, master's, and doctoral degrees, as well as an executive education program.

Ross also offers dual degrees with other University of Michigan colleges and schools.

History

Early history (1900–1923)

Edmund Ezra Day was the school's first dean.

The first business courses were offered at the University of Michigan in 1900. Economics Department Chairman Henry Carter Adams oversaw growing practical courses to prepare students for business careers, including industry, manufacturing, accounting, finance, and marketing. The need for a dedicated business education program became increasingly clear, an idea that emanated from the Economics Department.[9]

In 1918, a Certificate of Business Administration became available through the College of Literature, Science, and the Arts. In 1923, University President Marion LeRoy Burton hired Edmund Ezra Day to serve as the founding dean of a new business school.[9]

Founding (1924–25)

The University of Michigan School of Business Administration was founded in 1924. The school was based in Tappan Hall on South University Avenue just east of State Street. The only degree provided was a two-year Master of Business Administration (after three years of general studies). There were 14 faculty members, including one woman, Margaret Tracy, who was one of the earliest women to be part of a business school. In 1925, the Bureau of Business Research was founded to facilitate and coordinate faculty research, as well as publish research monographs and case studies.[9]

Clare Griffin era (1926–1943)

In 1926 after serving three years, Dean Edmund Ezra Day was replaced by Clare Griffin, who initially came to the university to teach marketing. The same year, faculty member William Andrew Paton founded The Accounting Review. In 1935, a PhD in Business Administration was added as a degree offering. In 1938, the first evening Master of Business Administration (MBA) classes were offered. In 1940, school enrollment reached 200 students. Between 1942 and 1943, the Bachelor of Business Administration (BBA) degree was introduced.[9]

Russell Stevenson era (1943–1959)

In 1943, Russell Stevenson became the school's third dean. In 1947, enrollment exceeded 1,000 students, reaching 800 BBA students and 400 MBA students by 1949. In 1948, a new business school building opened at the corner of Tappan and Monroe streets. It cost $2.5 million and had a nine-story tower. The same year, Paul McCracken joined the faculty. From 1950 to 1959, the school introduced the Public Utility Executive Program, its first stand-alone, non-degree program for continuing education of business executives.[9]

Floyd Bond era (1960–1978)

In 1960, Floyd Bond became the school's fourth dean. The same year, the school launched its first international effort through a joint venture in Taiwan, and Dean Bond appointed an International Business Committee to better integrate global business into the school's curriculum. In 1966, Dean Bond established the Ad Hoc Committee on Educational Programs in Business Administration for Negroes, which tried to attract more African-American students. However, the initiative was not successful, and a number of student strikes and other protests in the following years demanded more minority enrollment. In 1971, the school broke ground for a $1.5 million expansion of the school's physical facilities, Assembly Hall. By 1971, total enrollment surpassed 1,300, more than three-quarters of which were graduate students, with 370 in the Evening MBA Program. In 1972, the school's first two alumni clubs, in New York and California, held their first meetings. In 1974, Alfred Edwards joined the faculty as a professor of business administration and director of the research division, eventually becoming known as the school's ambassador for diversity.[9]

Gilbert Whitaker era (1979–1990)

In 1979, Gilbert Whitaker became the school's fifth dean and established an enlarged Office of Development & Alumni Relations. In 1980, total degree-program enrollment reached 2,000, including about 600 BBA students, while the number of faculty members exceeded 100. From 1980 to 1989, Dean Whitaker increased the multidisciplinary focus of the school, establishing 17 joint-degree programs with other U-M units. In 1982, he announced a $15 million fundraising campaign for three new buildings, including a library. The campaign raised $17 million, and the buildings opened by 1984. In 1983, the school joined the Consortium for Graduate Study in Management. The same year, it began offering a Master of Accounting degree. In 1990, the school received a federal grant to establish a Center for International Business Education.[9]

B. Joseph White era (1990–2001)

B. Joseph White was the school's sixth dean.

In 1990, B. Joseph White became the school's sixth dean. In 1991, Dean White and Associate Dean Paul Danos introduced a major MBA curriculum overhaul by initiating a program called the Multidisciplinary Action Project (MAP), a full-time, seven-week project that allowed teams of students to work on real-world business challenges for sponsor companies. After a pilot run, it became part of the MBA core curriculum in 1993. In 1995, an international MAP option was created as a separate program. In 2015, MAP became an option in the undergraduate curriculum.[9] It has continued to be a hallmark of Michigan's MBA program.[10]

In 1992, the William Davidson Institute was founded as "the brainchild of a 1947 Business School alumnus whose success as a Detroit manufacturer—and his frustrating attempts to expand in the former Soviet bloc—led him to envision efforts to help emerging nations embrace free markets". In 1995, the Tauber Institute was founded as a joint project with the College of Engineering. In 1996, the Global MBA Program is introduced, allowing students to study abroad in one-month terms. The same year, the Frederick A. and Barbara M. Erb Environmental Management Institute was established. In 1998, the Master of Accounting degree became a stand-alone program. In 1999, the Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies was founded. In 2000, Sam Wyly Hall opened at the corner of Hill Street and East University Avenue to house Executive Education and other programs. The same year, the number of members faculty approached 200. In 2001, the school introduced an Executive MBA Program, which targeted business leaders in supervisory positions.[9]

During Dean White's tenure, other initiatives, such as research on how to supplement the GMAT, helped cement the school's reputation for innovations that produce business leaders who are not only smart, but highly effective.[11] White's approach built on a historical strength of the school, which was known for producing hard-working, practically-oriented graduates. In addition, White added a focus on corporate citizenship to the school's MBA training program, moving aggressively to globalize the school.

Robert J. Dolan era (2001–2011)

Exterior of the Stephen M. Ross building

In 2001, Robert J. Dolan became the school's seventh dean. In 2002, the John R. and Georgene M. Tozzi Electronic Business and Finance Center was established. In 2003, several faculty members published "Positive Organizational Scholarship: Foundations of a New Discipline", a groundbreaking study on how to create positive organizations. The school would later found the Center for Positive Organizations. In 2004, alumnus Stephen M. Ross donated US$100 million to the school, which was renamed the Stephen M. Ross School of Business.[9] At the time of the donation, this had been the largest gift ever to a U.S. business school, and the largest ever to the University of Michigan. The Ross gift funded a campus overhaul; the school demolished 180,000 square feet (17,000 m2) of existing building space and renovated or added 270,000 square feet (25,000 m2).[12]

In 2006, the Ross Leadership Initiative (later renamed the Sanger Leadership Center) was established to improve the leadership development of MBA students. In 2009, the school's Master of Supply Chain Management degree program was introduced. The same year, the $145 million Stephen M. Ross building opened. In 2010, a Weekend MBA Program was introduced, allowing students to complete an MBA in two years while still working full-time.[9]

Alison Davis-Blake era (2011–2016)

Alison Davis-Blake was the school's eighth and first female dean.

In 2011, Alison Davis-Blake became the school's eighth and first female dean.[9][13] She introduced a new mission statement for the school: "We develop leaders who make a positive difference in the world."[9] In 2012, the Executive MBA Program was expanded to a second campus in Los Angeles.[14]

In 2013, Stephen M. Ross made a second $100 million gift as a part of a larger fundraising effort. The gift aimed "to help complete the vision of a unified business school complex, including one new building, one fully renovated building, and other improvements".[9] The same year, a Minor in Business is offered for non-business undergraduate students.[9][15] In late 2013, the school launched a major fundraising campaign, part of the broader Victors For Michigan campaign.[16]

In 2014, a new 10-month Master of Management degree was introduced.[9][17] The same year, the school began sponsoring the annual Positive Business Conference.[18] During Davis-Blake's tenure, the school broadened its global presence, increasing the number of overseas experiences for students and beginning a partnership with Shanghai Jiao Tong University.[19][20] The Desai Accelerator for startup businesses—a joint effort between Ross and the University of Michigan College of Engineering—opened in downtown Ann Arbor in 2014.[21] The same year, Davis-Blake oversaw a large, donor-funded construction project[22] that includes the new Jeff T. Blau Hall,[23] featuring classroom, administrative, and study space, as well as renovations to several older buildings on the business campus.[24]

In 2015, Davis-Blake announced that she would step down at the end of her five-year term in 2016 to pursue a broader role in higher education.[25] In 2016, the Jeff T. Blau Hall and the renovated Kresge Hall opened.[9]

Scott DeRue era (2016–present)

In 2016, Scott DeRue became the school's ninth dean. He joined the Michigan Ross faculty in 2007 and had been an associate dean. In 2017, enrollment exceeded 3,000 students, including about 1,600 BBA students and 800 full-time MBA students. Nearly 40% of incoming BBA students are women, and about half are from out of state.[9]

Facilities and institutes

Upon its establishment in 1924, the business school was initially located in Tappan Hall, the oldest extant classroom building on campus. The original 1894 wing was designed by the Detroit firm Spier & Rohns, and the south wing was designed by Luckenbach / Ziegelman & Partners.[26]

The school moved to its current site in 1948. Authorized by the Regents in July 1945, the site was in the block surrounded by Monroe, Tappan, Hill, and Haven streets and was purchased at the time construction was begun, the building occupying approximately the north half of the block. Ten private dwellings were removed for its construction, which began in August, 1946. The business school was the first skyscraper on campus and was designed by architects Lee and Kenneth C. Black, of Lansing, Michigan.[27]

New York City real estate developer Stephen M. Ross (BBA '62) gave a gift of $100 million to the business school, the second largest donation ever to a U.S. business school (after David Booth's $300 million donation to the University of Chicago Booth School of Business) and the largest gift to the University in its history. In recognition, the Board of Regents met in special session on September 9, 2004, to rename the school the Stephen M. Ross School of Business. In 2013, Ross announced a second gift to the school of $100 million, bringing his gifts to the school to $200 million, and his gifts to the broader university to $313 million. The second gift is being used for facilities upgrades, including high-tech classrooms, a new career services space, and additional areas for practical research; as well as student scholarships.[28] In September 2017, Ross donated an additional $50 million to the school bringing his cumulative gifts to the business school to $250 million.

The William Davidson Institute

The William Davidson Institute (WDI) is a not-for-profit, independent, research and educational institute. WDI was created in 1992 when Guardian Industries Corp. made a 20-year financial commitment to establish an institute at the University of Michigan Business School and was named in honor of Guardian Industries' chairman, president and CEO William Davidson.

WDI supports international activity at the University of Michigan by funding research, hosting visiting scholars, organizing seminars and speaker series, sponsoring summer internships, and creating dynamic and current teaching materials.[29] In the past thirteen years, more than 1,800 MBA students have participated in more than 450 international projects. WDI's publication initiative houses one of the best collections of international business and social impact teaching materials anywhere.[29]

A publishing subsidiary named WDI Publishing was founded in 2007.[30]

The Erb Institute for Global Sustainable Enterprise

Created in 1996 by a donation from Frederick A. Erb (BBA ’47) and his wife, Barbara, the Erb Institute for Global Sustainable Enterprise is a partnership between the Stephen M. Ross School of Business and the School of Natural Resources and Environment (SNRE) to provide professional education, as well as opportunities for research and engagement to sustain and accelerate business sustainability. The Erb Institute's iconic Dual-Degree MBA/MS Program, wherein students earn a Master of Business Administration from the Ross School and a Master of Science from SNRE in 2 1/2 to 3 years has received many accolades. In 2013, Michigan Ross (Erb Institute) received the top ranking for MBA programs with a Sustainability specialty (Bloomberg Business MBA Rankings)

The Joel D. Tauber Institute for Global Operations

Joel D. Tauber donated $5 million in 1995 to establish the Joel D. Tauber Manufacturing Institute, which trains graduate engineering and business students in operations management. The program is run jointly with the University's College of Engineering. In 2007, the Institute was renamed to the (Joel D.) Tauber Institute for Global Operations to recognize expanded interest from non-manufacturing (service, healthcare, IT, retail) organizations. In 2012 the Institute was honored with the first UPS George D. Smith Prize from INFORMS[31] for its effective and innovative preparation of students to be practitioners of operations research, management science or analytics.

The Zell-Lurie Institute

The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies provides the curriculum, program initiatives, community involvement, and alumni outreach activities that deliver exclusive resources for future entrepreneurs of the Ross School of Business at the University of Michigan. In 1999, a $10 million donation from Samuel Zell and Ann Lurie on behalf of her husband Robert H. Lurie, established the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the Business School.

The Wolverine Venture Fund

The Wolverine Venture Fund (WVF) is a multimillion-dollar venture capital fund operated directly out of the Ross School of Business at the University of Michigan.[32] The fund was started in 1997 by Karen Bantel.[33] The Fund invests with the active involvement of MBA students, faculty assistance, and an advisory board composed of professional venture capitalists and entrepreneurs.[33] The WVF invests primarily in early-stage, emerging growth companies.[34] The Fund typically provides US$50,000 to $200,000 in seed and first-stage funding rounds[33] in syndication with other venture capital funds and angel investors.[citation needed]

The Wolverine Venture Fund, the oldest such U.S. venture, earned $1 million when IntraLase Corp., a U-M spin-off technology company, went public.[35]

The Zell Lurie Commercialization Fund

The Zell Lurie Commercialization Fund (ZLCF), formerly the Frankel Fund, is a student-led "pre-seed" investment fund.

The goals of the ZLCF are to:

  • Accelerate the commercialization of research and ideas generated within the University community.
  • Create a financially self-sustainable process of research commercialization, by which successful past investments will provide the funds needed to make new ones.
  • Provide a stimulating, hands-on educational experience for students, thus reinforcing the Ross School of Business’ commitment to action-based learning.
  • Build excitement within the University community about the prospects of research commercialization.

The Fund is made up of Ross MBA and Michigan PHD students ("ZLCF Fellows") selected because of their domain knowledge of the health care or technology industries and their experience and interest in early-stage company formation. ZLCF Fellows are divided into four teams, specializing in health care, clean tech, consumer, and technology investments. Additional information is available at www.ZLCFund.com

The Social Venture Fund

The University of Michigan Social Venture Fund (SvF) is the first student-run Social venture fund in the United States.[36] Established in 2009 by four Ross School of Business MBA students and overseen by professor Gautam Kaul, the Social Venture Fund invests in innovative and mission-driven social enterprises.[37][38] The Fund's mission statement reads, "We are committed to providing strategic and patient capital to early-stage social enterprises led by outstanding entrepreneurs that contribute to the proliferation of the new generation of socially-minded business leaders."[39][40]

The Center For Positive Organizations

Founded in 2002 as the Center for Positive Organizational Scholarship, the center’s mission is ‘to inspire and enable leaders to build high-performing organizations that bring out the best in people.’ It conducts and disseminates research on topics such as positive leadership, meaning and purpose, ethics and virtues, and relationships and culture in an organizational setting. Starting in 2014, it sponsors an annual Positive Business Conference.[41]

The Sanger Leadership Center

The Sanger Leadership Center at Michigan Ross seeks to build a more connected, creative, and prosperous world, one leader at a time. Named for a gift by Steve and Karen Sanger in 2015,[42] the center offers a wide range of leadership development programming for all University of Michigan students. Its signature initiatives open to U-M students include the Leadership Crisis Challenge, Impact Challenge, Story Lab, Legacy Lab, and more.[43]

Sanger uses leadership development theories and tools developed at Michigan Ross, such as the Michigan Model of Leadership.[44]

Student life

U.S. Senator Debbie Stabenow meeting with students from the business school in 2016

Students publish their own newspaper called the Monroe Street Journal, named after the main street leading to the school entrance. The school is also home to The Michigan Journal of Business, the first undergraduate-level academic journal in the field of business.

One important tradition among the Ross MBA community is the Ross MBA college football tailgate, which takes place at "The Bus" before and after every home game. "The Bus" is a 1985 Ford school bus that is painted in Michigan's colors, maize and blue, and is decked out with both a dance floor and DJ on the roof and couches in the interior. On every game day, The Bus is parked in Fingerle Lumber Yard and serves as the centerpiece for the Ross MBA tailgate. The tailgate costs $10 to attend and attracts over 500 students, alumni, and friends. This tradition has been intact for the last decade (as of 2013).[45] After the bus "died" in 2013, a group of MBA students started a crowdfunding campaign on Tilt.com to purchase a new mobile tailgate bus.[46]

Michigan Journal of Business

Michigan Journal of Business
DisciplineBusiness
LanguageEnglish
Edited byRoger Zhong, Kabir Sodhi
Publication details
History2007-present
Publisher
FrequencyBiannually
Yes
Standard abbreviations
ISO 4Mich. J. Bus.
Indexing
ISSN1941-5745
LCCN2008214414
OCLC no.644450557
Links

The Michigan Journal of Business is a biannual peer-reviewed open access academic journal published by undergraduate students at the Stephen M. Ross School of Business (University of Michigan). It was established in 2007 by William Moon and publishes theses, empirical research, case studies, and theories relating to areas of accounting, economics, finance, marketing, management, operations management, information systems, business law, corporate ethics, and public policy. The editorial staff is composed of students from various schools within the University of Michigan.

Abstracting and indexing

The journal is abstracted and indexed in EBSCO's Business Source Complete database.[47] Archival issues are available at the MJB's website.[48]

Rankings

Business School
International Rankings
U.S. MBA Ranking
Bloomberg (2024)[49]18
U.S. News & World Report (2024)[50]10
Global MBA Ranking
QS (2024)[51]19
Financial Times (2024)[52]28


U.S. News & World Report,[53] in their 2019 rankings of top MBA programs, placed Michigan Ross among the top 10 business schools in the United States, tied with the University of California at Berkeley's Haas School of business for the #7 slot; in the same publication and year's BBA rankings, Michigan Ross was ranked 4th. In the most recent U.S. News & World Report[54] specialty rankings for 2019, Michigan Ross's full-time MBA program was ranked at #3 in the Management and Production/Operations categories, #4 in Marketing and Accounting, #5 in Nonprofit and International, #6 in Supply Chain/Logistics, #7 in Entrepreneurship and #10 in Finance. In 2014 BusinessWeek ranked the MBA program #9 overall. In 2015, U.S. News & World Report rankings of the best U.S. undergraduate business programs ranked Ross at No. 1 in the management category. Also in 2015, the BBA program ranked in the Top Five in the following business specialties: marketing (No. 2), finance (No. 3), international business (No. 4)[Although now ranked 12th in 2017], productions/operations management (No. 4), and accounting (No. 5). In the 2015 QS Global 200 Business Schools Report[55] Ross School was placed as the 8th best Business School in North America. In 2011 the Masters in Supply Chain program was ranked no.2 in Supply chain in the US by Gartner. In the 2015 Bloomberg BusinessWeek rankings of undergraduate business schools, Ross placed 12th. In 2016, Ross moved up to 8th.[56]

The Ross School of Business was ranked #3 worldwide in 2011 for research output,[57] and #1 in 2013 for sustainability by Bloomberg Businessweek.

Notable alumni

Activists

Advertising/marketing

Arts and entertainment

Athletics

Banking/financial

  • Ms. Catherine P. Bessant (BUS: BBA), called the most powerful woman in banking; has been the Chief Operations and Technology Officer at Bank of America since July 22, 2015; and serves as its Member of Executive Management Team
  • William S. Demchak, (BUS: MBA), President and Chief Executive Officer of PNC Financial Services Group.
  • Haluk Dinçer (BUS: MBA), President of the Retail and Insurance Group of Sabancı Holding, one of the two largest industrial and financial conglomerates of Turkey
  • David Kellermann, (BUS: BSBA), Chief Financial Officer of Freddie Mac
  • Shailesh Kumar (BUS: M.B.A.), writer, entrepreneur, private investor, and founder of Value Stock Guide, a financial website providing information about investing
  • Herbert "Bart" H. McDade III, President and COO of Lehman Brothers at the time of its bankruptcy
  • Euh Yoon-Dae (BUS: Ph.D.), Chairman of KB Financial Group and of the Presidential Council on Nation Branding, Korea

Consulting/accounting

  • Gary Hamel (BUS: MBA PhD 1990), co-author of The Core Competence of the Corporation; selected "Number One Guru" by The Economist magazine in 2003

Education

Entrepreneurs

  • Sam Belnavis (BUS: MBA), executive in automobile racing; as an African-American, one of the few minority persons to have owned a NASCAR racing team
  • Donald Hicks, businessman, author, and expert in supply chain management; president and CEO of LLamasoft, Inc., a supply chain design software company
  • Shailesh Kumar, businessperson; founder of Value Stock Guide
  • Frank Legacki, former President and CEO of Kaepa, Inc., an athletic footwear company based in San Antonio, Texas.
  • Sam Wyly (BUS: MBA 1957), serial entrepreneur; owner of the Bonanza Restaurants chain; founder of computer companies acquired by Computer Associates, SBC Communications, and Datran; chairman of Sterling Software

Federal Reserve/FDIC/OCC/Treasury

Government and judiciary

Healthcare

Industrials

  • H. David Burton (BUS: MBA), the thirteenth Presiding Bishop of The Church of Jesus Christ of Latter-day Saints (LDS Church) from 1995 to 2012.
  • Charles "Chuck" Conaway (BUS: MBA), businessman best known for having been the CEO of Kmart; former President and Chief Operating Officer of CVS Corporation
  • John DeLorean (BUS: MBA 1957), General Motors Group Vice President and Designer of the DeLorean
  • Dave Deno (BUS: MBA), former CEO of Quizno's and former COO of Yum! Brands
  • John V. Faraci (BUS: MBA 1974), CEO of International Paper
  • Frederick Henderson (BUS: BBA 1980), former Chairman of GM Europe and a GM group vice president; named GM Vice Chairman and Chief Financial Officer in 2005
  • Donat Leclair (BUS: MBA), former chief financial officer and executive vice president of Ford Motor Company
  • Archie McCardell (BUS: MBA), American business leader; former chief executive officer, president, and chairman of the board at the International Harvester
  • Michael Roney (BUS: MBA 1981), CEO of Bunzl
  • Roger B. Smith (BUS: 1947, MBA 1953), former Chairman and CEO of General Motors
  • David N. Weidman (BUS: MBA 1980), CEO of Celanese; member of the Board of Celanese (2004–, as chairman, 2007–); Society of Chemical Industry Chairman

Information technology

  • David Bohnett (BUS: MBA 1980), founder and CEO of GeoCities
  • Bharat Desai (BUS: MBA 1981), co-founder, President and CEO, Syntel Inc.
  • Donald Hicks (BUS: MBA), founder of LLamasoft, Inc., a software and services company that develops and markets technology to model and optimize supply chain networks
  • Warren Lieberfarb (BUS), Chairman of Warren N. Lieberfarb & Associates, LLC.; serves on the board of directors of Hughes Telematics, Inc.; board member of Sirius Satellite Radio and thePlatform
  • Paul Saleh (BS, MS; BUS: MBA 1985), CFO, Nextel Communications Inc.
  • Richard Snyder (BA 1977, BUS: MBA with distinction 1979, LAW: JD 1982, Certified Public Accountant), Chairman of the board of Gateway Inc., venture capitalist, and Governor of Michigan (2011–2019)

Journalism

Real estate & Infrastructure

Venture capital

Current and former professors

See also

References

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42°16′21.8″N 83°44′15.2″W / 42.272722°N 83.737556°W / 42.272722; -83.737556