The George Washington University

School of Business: GWSB News

October 13, 2009

Dean Phillips Announces Retirement

Susan M. Phillips, dean of The George Washington University School of Business since 1998, announced that she is retiring.

In an announcement marked with “very mixed emotions,” Phillips revealed that she plans to retire as dean at the end of the 2009-10 academic year, but will remain on the faculty – on administrative leave – through the end of 2010-11 academic year. GW will launch a national search for a successor, with the aim of naming a new dean by June 30, 2010.

Phillips said when she joined GWSB, the school was not ranked. “Being in the Top 50 was in the mission statement,” she recalled. Now, in her 12th year as dean, Phillips can point to a number of accolades.

U.S. News & World Report this year ranked GWSB 55th among “America’s Best Graduate Schools,” and the Financial Times rated the graduate school as seventh worldwide for international programs. BusinessWeek ranks nine undergraduate specialties at GWSB as among the top 24 in the nation; it says the operations management program is the best in the United States.

Beyond the outside recognition, Phillips has noticed a sea change within the ranks of the School’s faculty. “I’m particularly proud that people are now willing to serve in leadership positions in the School – as department chairs and associate deans,” she said, explaining that when she first looked for associate deans no one would take the job. The last few times the slots positions opened, several candidates came forward.

Describing her GWSB position as “the longest contiguous job I’ve ever had,” Phillips said she will remain in the Washington area but will also be shopping for a home in Florida in order to spend a few months of the year closer to her family.

Agnes Scott College, where Phillips received a B.A. in mathematics, has asked her to serve on its board. She also plans to remain active on several corporate boards and to continue her work with the Association to Advance Collegiate Schools of Business (AACSB). The dean currently sits on the board of directors of AACSB International, serving as secretary-treasurer.

Phillips, a professor of finance with a career trajectory that includes nearly seven years as a member of the Board of Governors of the Federal Reserve System, has led the School of Business through a number of sweeping changes. The most recent was the highly touted revision of the curriculum to include a Global MBA program that emphasizes ethics, leadership and international business.

“We have built more rigor into our academic programs via curriculum revisions at the undergraduate, masters and doctoral levels, as well as an infusion of ethics and globalization throughout,” Phillips acknowledged.

It was under the dean’s leadership that the School in 2008 expanded into Duquès Hall, a $56 million state-of-the-art building with such prized features as the Capital Markets Trading Room, high-tech classrooms, a computer lab and the F. David Fowler Career Center. During Phillip’s tenure, new research centers were added to School, bringing the total to 12.

“On top of an impressive resume and stature within the financial world, Dean Phillips has brought fiscal discipline and financial strength to the School of Business, as well as made significant progress in encouraging and fostering research at the school through internal investment in the faculty,” said Don Lehman, the University’s executive vice president for academic affairs.

“Dean Phillips helped GW earn a Center for International Business Education and Research (CIBER) grant – the most prestigious award for international business in the United States,” he noted. “In addition, Dean Phillips has attracted top notch faculty and led the school’s graduate-level programs to a national ranking for environmental stewardship and social impact.”

Phillips’ areas of expertise include monetary policy, regulation and supervision of financial institutions, derivatives, financial management and economic theory of regulation. Prior to her Federal Reserve appointment in 1991, she served as vice president for finance and university services and as a professor of finance in The College of Business Administration at the University of Iowa.

In 1981, Phillips was appointed to the Commodity Futures Trading Commission. She became its chair in 1983 and was reappointed in 1985, serving two more years. She currently sits on the boards of the Chicago Board Options Exchange and the National Futures Association and is a member of the Financial Accounting Foundation Board of Trustees.

Phillips holds an MS in finance and insurance and a PhD in finance and economics from Louisiana State University.

Princeton Review: GWSB is No. 2 in Nation in Opportunity for Women

In Princeton Review’s annual review of business schools, GWSB has moved up the rankings to the No. 2 spot in the nation when it comes to “Opportunity for Women.” The Princeton Review surveyed more than 19,000 students at 301 business schools, in addition to collecting data from school administrators. The Princeton Review does not name one business school as the best. Instead, it ranks the Top 10 in 11 categories. Last year, GWSB was ranked sixth in the “Opportunity for Women” category.

For the full list of rankings, go to: Business School Rankings

Staying Informed about Career Opportunities in a Tough Market

Gisele Holden of the National Science Foundation talks to students about careers in finance.
Finance professionals (left to right) Chris Garza, Gisele Holden, Jeremy Rohen, Wayne Perry, Val Volkau and Andrew Woolridge share their expertise.

GWSB’s F. David Fowler Career Center launched its fall series of career discussions and speakers with two great events – a panel presentation on careers in finance and an in-depth look at the hedge-fund industry.

The finance panel featured professionals from government, corporate and financial-services entities. Industry experts from AT&T, the National Science Foundation, OppenheimerFunds, Seale & Associates and Convergent Wealth Advisors shared stories about their career advancement and what they look for in prospective job candidates. Undergraduates and MBA students learned what mistakes to avoid in applying for a job and the importance of continued education in finance disciplines. The panel was moderated by Neil Cohen, associate professor of finance.

At the hedge-fund session, alumnus George Lucaci, MBA, ’76, spoke to a select group of students about the intricacies of the industry. He discussed what a hedge fund is, current trends and regulations, and the skills needed to land a job in the hedge-fund industry.

“We want our students to gain as much knowledge as possible early in their career search, so they can make informative and intelligent career decisions, and stand out in this market,” said Gil Yancey, executive director of the F. David Fowler Career Center, in explaining the importance of the career discussions. “These events bring experienced professionals to the students. It is a great opportunity to network with them and learn from their career paths.”

Career center events for October include presentations on consulting careers, international business careers and the role of government in the financial services and automotive industries. Invited speakers include William Fox, CFO of Lehman Holdings, who will talk about how he and his team assessed and confronted the challenges of the bankruptcy and restructuring of Lehman Brothers, and Chad Holliday, chairman of DuPont and recently elected board member of Bank of America. Holliday will discuss strategic corporate social responsibility in the global economy. (See the Events section.) For more information, visit Panel Discussions or call 202-994-6704. You can also follow the F. David Fowler Career Center on Facebook and Twitter.

Research Enhancement Unit Gives Faculty an Edge with Grant Applications

Dr. Leo M. Chalupa, vice president for research

GW’s new Research Enhancement Unit has been “swamped” with requests since opening for business this fall, said Dr. Leo M. Chalupa, vice president for research. The University-wide unit, designed to serve faculty in all disciplines by increasing funding opportunities, provides expert guidance and assistance throughout the grant-application process. Such entities are common at other research-intensive universities.

“My main job is to increase our research portfolio,” Chalupa explained. Toward that end, he said the recently restructured research department is doing “everything we can think of to make our faculty more competitive in getting grants.” On average, nine of 10 grant applications are rejected, Chalupa noted, adding that the margin between success and failure in the application process can be slight. Details as simple as a proposal’s formatting can mean the difference between approval and rejection.

The Research Enhancement Unit’s staff helps faculty structure grant proposals to comply with sponsor guidelines, to incorporate appropriate and cohesive elements that reviewers seek in successful submissions and to organize narratives that provide persuasive, logical and linear arguments.

With extensive experience as a member of grant-review committees for the National Science Foundation, National Institutes of Health and other organizations, Chalupa has learned from applicants’ mistakes as well as their successes.

“We want to give our grant applicants every possible advantage they can have in a very competitive game,” Chalupa said. He added, however, that faculty members are still responsible for the most important part of the grant process – while a good concept can be hurt by a poor grant proposal, a mediocre idea won’t get funding and can’t be helped by an outstanding application.

Chalupa became the University’s first vice president of research on April 1, 2009. He serves as GW’s chief research officer, charged with overseeing the strategic and operational development of the University’s rapidly growing research enterprise. He comes to GW following a 34-year career at the University of California, Davis, most recently serving as the chair of neurobiology, physiology and behavior in the College of Biological Sciences. A distinguished professor of neurobiology and ophthalmology at UC Davis, Chalupa founded the university’s Center for Neuroscience in 1992, as well as the Mind and Brain Center, the Brain Imaging Center and the Center for Visual Sciences.

‘Nation Brand’ Can Help Countries Overcome Negative Stereotypes and Media Coverage

Dr. Hassan speaks at the International
Symposium on Cultural Diplomacy in

“Nation branding” can overcome negative national or regional stereotypes, Professor of Marketing Salah S. Hassan told participants at the International Symposium on Cultural Diplomacy in Berlin. The July event was organized in cooperation with the U.S. Embassy to commemorate the 20th anniversary of the fall of the Berlin Wall.

In his presentation, “Breaking the Cycle of Bad News: How to Build Your Nation Brand,” the chair of the GWSB Department of Marketing explained that with the support of political leadership and a sound nation-branding strategy – using both traditional and non-traditional media – nations can offset negative media attention and revitalize foreign investment, tourism and public diplomacy.

For natives, nation-brand associations include pride, security and home. For visitors, the associations are more likely to signal excitement or a novel experience. Because of this, Hassan said, a nation-brand program must be both harmonious and neutral if it is to effectively reach both internal and external stakeholders

He cited Switzerland as an example. That country has multiple cultural groups and four national languages: French, German, Italian and Romansh. In marketing the “Swiss” brand – domestically and internationally – a message tagline was presented in the four languages so all the groups represented could be proud of the brand.

In addition to transparency and truthfulness, Hassan said representation is a critical element in nation branding. He explained that a dominant culture should not tell the nation’s story on behalf of others. A few years ago, Australia integrated into its Aboriginal people into its nation-branding campaign with the message: “We are proud of our roots, and the Aboriginal culture is part of this great nation.”

Hassan noted that some of the most powerful brand builders are not-for-profit organizations such as the Goethe-Insitut, which recently launched a campaign to spotlight the element of design in German brands. The campaign, “From the Iconic Product to the Designer Brand – Design from Germany,” directed public attention to sophisticated design as a German cultural trait. Among other things, the campaign aimed to overcome the negative image of “insensitive” Germans.

Tourism and Hospitality Management Students Win National Scholarship Awards

Three GWSB tourism and hospitality management majors, Jamie Faulkner, Claire Shields and Ying Zhu, won scholarship awards from the American Society of Travel Agents’ (ASTA) Tourism Cares charitable organization. The GWSB students were among only 20 nationwide to receive ASTA scholarships this year.

“ASTA is delighted that, thanks to our educational scholarships, these students will now have the opportunity to continue their education and eventually share their newfound knowledge with their peers. When travel professionals take the time to learn more about their profession and expand their business horizons, the entire industry benefits by association,” said ASTA CEO William Maloney. “Thanks to the management of Tourism Cares, we are able to reach even more students aspiring to join the travel and tourism industry.”

The Tourism Cares ASTA Scholarship Review Committee, made up of travel, tourism and hospitality educators from across the country, selected the scholarship recipients from among hundreds of applicants.

“Awarding three scholarships to our MTA students clearly reflects the outstanding caliber of our students and the quality of the MTA program,” said Larry Yu, professor and chairman of the Department of Tourism and Hospitality Management.

GWSB student Clarice Casamina’s prize-winning entry

Marilyn Liebrenz-Himes, associate professor of global marketing, discovered that climate change is a marketing area engaging her students’ attention – even after the class work is long over.

During a spring marketing strategies course, Liebrenz-Himes had students prepare submissions for a poster contest sponsored by the International Advertising Association (IAA) and Japanese ad agency Dentsu, with support of the United Nations. “Climate change” was the theme.

One of Liebrenz-Himes’ students, Clarice Casamina, claimed first prize among all North American submissions. Three other students from the same marketing class received recognition for their participation: Andrea Gunning, Dexter Kim and Jodi Richards.

“We looked at all the posters and our students voted – with Dr. Mark Starik acting as a guest judge – to narrow it down to five submissions,” explained Liebrenz-Himes. Starik is the chair of the GWSB Department of Strategic Management and Public Policy. “The biggest hurdle was that the students had to have full rights to the artwork in their posters. So some ended up with an impressive academic enterprise but didn’t qualify for the contest.”

A total of 145 entries from 13 countries were judged by a panel of advertising executives from Austria, Ghana, Japan, Mexico and the United States and a representative from the United Nations. A student from Universidad Argentina de la Empresa in Buenos Aires was declared the world champion.

In her submission, Casamina said the goal of her poster was to show that involvement in the climate-change movement could be as easy as a phone call.

“Climate change is one of the most critical global challenges of our time,” said Kiyo Akasaka, United Nations under-secretary-general for communications and public information. “We need urgent action now. Young people are critical to making a difference. We need their energy, their creativity and their passion.”

Getting to Know: Hein Bogaard

Name: Hein Bogaard

Title: Assistant Professor of International Business

Job duties: Teaching (currently microeconomics) and research. My primary interest is in foreign acquisition of banks in emerging markets and the expansion patterns of multinational banks.

Years at GW: Two months.

Best part of working at GWSB: That would be a tough choice between the location in D.C. and my colleagues.

What co-workers do not know about me: I am not sure if I should advertise my skills as a cook and mixologist.

Family: Married.

Favorite things to do on the weekend: Hiking, kayaking.

Favorite vacation spots: Iceland and Argentina – two places I have not been yet.

Favorite book: Staying within my field of expertise, The Undercover Economist by Tim Harford has to be high on the list


Fall 2009 Career Panel Events

GWSB’s F. David Fowler Career Center will host a series of career panels in October. Panelists will include industry experts who will discuss their careers and provide insight into how to compete and succeed in the turbulent job market. This is a great opportunity for juniors and seniors to learn about different careers and network with professionals. Each event will be followed by a reception and a chance to speak with the panelists one-on-one. For details, visit panel discussions web site or call 202-994-6704.

International Business Careers Panel (Co-Sponsored with the International Business Club)
Wednesday, Oct. 14, 6-8 p.m.
Duquès Hall, Room 652
Open to: All GWSB students

Do you have an interest in traveling overseas? Wondering about international development jobs? How about global consulting opportunities?

6-7 p.m. – Introduction and Panel Discussion
7-7:15 p.m. – Questions and Answers
7:15-8 p.m. – Networking Reception with Panelists at 6th Floor Lobby (light food and soft drinks)

Note: Seating is limited. Please arrive early. The panel discussion will begin promptly.

Speaker Series: William Fox, Lehman Holdings

Friday, Oct. 16, 2009
10-11:30 a.m.
Funger Hall, Room 223
Open to: All GWSB students

Speaker Series: Charles O. Holliday, Jr., chairman, DuPont Board of Directors

Wednesday, Oct. 21, 2009
6:45-8:15 p.m.
Funger Hall, Room 103
Open to: All GW students

The F. David Fowler Career Center at the George Washington University School of Business welcomes all GW students to attend this special event dedicated to corporate social responsibility and strategic management. Charles O. Holliday, Jr., Dupont Board of Directors chairman and GW executive-in-residence, will speak about sustainable development and corporate responsibility.

GAO Inspector General Frances Garcia to speak at GWSB Latino Heritage Month Event

GWSB, the Multicultural Business Student Association and the Multicultural Student Service Services Center will present the first-ever Latino Heritage Celebration Business Speaker: Frances Garcia, inspector general of the U.S. Government Accountability Office (GAO). The event takes place on Wednesday, Oct. 14, at 7 p.m., in Duquès Hall, Room 651. A reception will follow in the Crain Center (Duquès Hall, Room 150).

Garcia was the first female Hispanic CPA in the state of Texas, the first Hispanic woman hired as an audit manager at Arthur Andersen in Dallas and first the female national president of the Association of Latino Professionals in Finance and Accounting (ALPFA). In 2009, she was named Hispanic Woman of the Year by Hispanic Business Magazine. For more information, contact Jessica Ortiz, GWSB undergraduate adviser, at 202-994-8314.

GWSB Authors at Gelman Library Signing Reception

GWSB’s Anna Helm, visiting assistant professor of international business, and Charles Toftoy, associate professor emeritus of management science, will share the spotlight with two other GW faculty authors at a signing reception on Thursday, Oct. 15. The reception takes place from 3-4:30 p.m. at Gelman Library, Room 207.

Helm’s book, The Intersection of Material and Poetic Economy: Gustav Freytag’s Soll und Haben and Adalbert Stifter’s Der Nachsommer, examines how the main poetical strategies of the two novels are defined by economic themes, structures and forms. Toftoy’s novel, It’s in the Eyes, is a murder mystery featuring crime-solving college professor Lars Neilsen.

Helm and Toftoy will be joined by Ann Romines, professor of English, who penned an essay and explanatory notes for Sapphira and the Slave Girl (Scholarly Edition), Willa Cather’s 12th and final novel; and George Squires, professor of sociology and of public policy and public administration, co-editor of The Integration Debate: Competing Futures for American Cities.

For more information, contact Sadie Duncan, or 202-994-1704.

CFEE Presents Donna Fenn on Oct. 20

GWSB’s Center for Entrepreneurial Excellence (CFEE) will host a Howard Hoffman Lecture series event featuring speaker Donna Fenn, GW graduate and an award-winning author and journalist, on Tuesday, Oct. 20 at 6 p.m., in Funger Hall, Room 103.

Fenn has published multiple books and serves as a contributing editor at Inc. magazine. Her most recent title is Upstarts! How GenY Entrepreneurs are Rocking the Business World and 8 Ways You Can Profit from Their Success. The book examines the different leadership and entrepreneurial styles of Generation Y.

Fenn’s lecture will cover the book and also include a discussion of the next generation of business leaders with local GenY entrepreneurs. The event is co-hosted by CFEE and the Greater D.C. chapter of the National Association of Women Business Owners (NAWBO). A reception will follow the lecture.

Alumni Career Networking Night on Nov. 18

The School Alumni Relations officers and the George Washington Alumni Association (GWAA) will host the first “All GW Alumni Career Networking Night” on Wednesday, Nov. 18. The event will give GW alumni and graduate students an opportunity to network with alumni from various industries and to meet representatives from the GW career centers. Participants will have a chance to learn about the resources provided by GWAA and how they can make the most of being part of the GW community. For more information and to register for this event, click here.


Miguel Lejeune, assistant professor of decision sciences, presented his paper “Disjunctive Normal Form Representation of Probabilistic Constraints” at the International Symposium on Mathematical Programming in Chicago in August.

Alexandre M. Baptista, associate professor of finance and Dean’s Scholar, presented his paper, “Bank Regulation, Risk Management and Financial Stability,” at a symposium on “Advances in Risk Management – Theory and Practice” at the Risk Management Institute, National University of Singapore. The paper was co-authored by Gordon J. Alexander (MIT and University of Minnesota) and Shu Yan (University of South Carolina).

D. Christopher Kayes, associate professor of management and Dean’s Research Scholar, presented his paper “Learning and work satisfaction in Japanese, Chinese and Malaysian managers” at the Academy of Management Conference (Division of International Management) in Chicago in August. The paper was co-authored by Yoshitaka Yamazaki at the International University of Japan.


“Our man in Dubai” – GWSB’s Jelani Bynoe (left) and his friend Hatim.

“Trini student learns from wealth and wonder of Dubai,” an article by Jelani Bynoe, a GWSB senior majoring in tourism and hospitality management and native of Trinidad and Tobago, was published in his hometown newspaper, The Trinidad Guardian. In the article, Bynoe recounts his experiences during a summer internship at the Jebel-Ali International Hotel in Dubai. “I was eager to embrace not only the work experience but also as much as possible of everything else in Dubai,” Bynoe wrote. “Dubai has many marvels. It boasts the only seven-star hotel in the world, the Burj-Al-Arab; the man-made Palm and World islands; the tallest building in the world with 162 floors, the Burj Dubai; the world’s largest mall with 1,200 retail stores; the highest water fountain, shooting 275 meters high; and Ski Dubai, the world’s largest indoor ski facility.”

Getting Ink

Lisa Delpy Neirotti, associate professor of sport management and tourism, appeared on WTTG FOX 5 television news to discuss the International Olympic Committee’s (IOC) selection of Rio de Janeiro, Brazil, as the site for the 2016 summer games. Neirotti said that she was “not surprised” by the choice of Rio over Chicago, citing a long history of turbulent relations between the IOC and the U.S. Olympic Committee.

An Olympics scholar, Neirotti has attended 14 consecutive Olympics and has traveled to 58 countries to interview IOC members and study the development and organization of the Olympics movement. Capitalizing on her international interest and contacts, she has organized and led student study tours to every Olympic game since 1992. While at these events, she conducts market research and arranges for meetings with Olympics administrators, sponsors, athletes and volunteers, as well as tours of the venues and auxiliary facilities.

GWSB and the Center for Entrepreneurial Excellence (CFEE) were cited on WJLA/News Channel 8’s “Washington Business Tonight,” during an interview with Rosabeth Moss Kanter, Ernest L. Arbuckle Professor of Business Administration at Harvard Business School. Kanter, on the program to discuss her new book, Super Corp: How Vanguard Companies Create Innovation, Profits, Growth and Social Health, was in Washington, D.C., to speak at the CFEE’s Hoffman Lecture Series.


Vanessa G. Perry, associate professor of marketing, has won the 2009 Peter B. Vaill Award. The award acknowledges an outstanding contribution to doctoral students by a GWSB faculty member. Nominations for award were collected from GWSB doctoral students and yielded 15 faculty nominations. A subsequent vote by the students resulted in the overwhelming selection of Perry.

One doctoral student stated during the nomination process, “Dr. Perry is very research active and has been publishing at highly respected journals such as California Management Review. She is heavily involved in many doctoral students’ research papers and is extremely genuine and honest when dealing with any student or colleague.”

Another student wrote that “Dr. Perry has gone out of her way to facilitate my learning and help me progress in the PhD program. Though I am not in her department, she has met with me regularly and has been a strong advocate on my behalf. She has also provided me with strategic advice in terms of how to position my research.”

Peter B. Vaill is one of the nation’s most influential organizational change theorists.

Class Notes

Lance Manning, MBA, ’04, is involved with consulting work that includes thought-leadership writing and projects in medical automation and research return on investment. An expert adviser for National Science Foundation grant recipients, he also is involved in entrepreneurship mentoring and teaching. He is currently completing a historical novel.

Susan A. Hennessy, MPA, ’84, has served as facilities manager for Doorways for Women and Families since December 2008. This year, the organization won a first-place award from The Washington Post for Excellence in Non-Profit Management.

Tracy Dillard, MPA, ’86, joined Illy Caffe North America and Getty Images as a sponsor of the Learning Modern Exhibition, which features works by artists and architects continuing Mies van der Rohe’s Bauhaus legacy. Learning Modern is a program of Living Modern Chicago, a collaboration of the Mies van der Rohe Society/Illinois Institute of Technology and the School of the Art Institute of Chicago. Dillard is a nationally recognized residential real-estate consultant in Chicago.

Ryfie Amkraut, MBA, ’04, has just finished her first novel, Girl: Classified. Amkraut has worked as a government consultant for nine years and was an active member of the 2009 MBA Reunion Committee.

Richard L. Reed, BBA, ’80, and MBA, ’84, was honored with the NCB 2009 Spirit of Cooperation Award, presented at the bank’s annual meeting at the National Geographic Building in Washington, D.C. Reed is the chief financial officer and executive managing director of NCB.

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