University of Chicago Graduate School of Business

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The University of Chicago Graduate School of Business

Image:GSB_Logo.gif.gif
Established 1898
Type Private
Dean Edward A. Snyder
Faculty 175
Undergraduates No
Postgraduates 1088
Location Chicago, Illinois, USA

The University of Chicago Graduate School of Business, also known as Chicago GSB is one of the world’s leading business schools and the second oldest in the United States.

University of Chicago GSB
University of Chicago GSB

Its flagship campus is located in the Hyde Park neighborhood of Chicago, Illinois on the grounds of the university at large, while maintaining additional campuses in London, Singapore and Chicago’s Magnificent Mile. While recognized for the excellence of its graduate business programs in general, the GSB's reputation is particularly notable in the fields of finance, economics, quantitative marketing and accounting.

Contents

[edit] Programs

Full-time MBA, Part-time MBA, Weekend MBA and Executive MBA programs are offered and the University is also a major center for educating future academics offering the A.M. and Ph.D. in several fields.

The Hyde Park Center (Rafael Viñoly, architect).
The Hyde Park Center (Rafael Viñoly, architect).

The Full-time MBA, Part-time MBA and Weekend MBA, allow students to largely structure their own course of study within a broad set of requirements. This is in contrast to other top-tier business schools, which impose a cohort or learning team system that includes a pre-determined order of coursework. The program differentiates itself by providing students with the flexibility to construct a program of study that is tailored to their needs and can be as broad or deep as they choose. There is only one required course for full-time program students: LEAD (Leadership Effectiveness and Development)[1], which students take in their first quarter. LEAD focuses on the fundamental skills of leadership: motivating people, building relationships, and influencing outcomes. Students in the full time program may earn an International MBA, or IMBA, by studying abroad on exchange with another business school, taking certain electives, and by demonstrating non-native, second language oral proficiency.

Students in these programs can elect to concentrate in one or more areas of study, although some concentrations' required coursework requires schedule modifications by part-time learners:

Students actively engage in group projects and outside class discussion.
Students actively engage in group projects and outside class discussion.


The school's Executive MBA program is unique in that students may elect to spend the required residential periods on all three of the school's campuses world-wide (London, Chicago, Singapore), while also employing the cohort system.

[edit] History

The University of Chicago Graduate School of Business was launched by faculty member James Laurence Laughlin in 1898 as the second-oldest business school in the United States. The school was chartered officially as the College of Commerce and Administration. It was intended to be an extension of the University of Chicago’s founding principles of “scientific guidance and investigation of great economic and social matters of everyday importance,” as echoed by founding president William Rainey Harper. Patterned after the Wharton School of the University of Pennsylvania, it originally served as a solely undergraduate institution until 1916, when academically oriented, research masters and later doctoral level degrees were introduced. The MBA was first offered in 1936, resulting in an eight year transition to the institution’s graduate-only status completed in 1950. In 1943, the school presaged the success of executive education programs in management education, launching the first ever Executive MBA program. The school is also notable in that, during the later half of the twentieth century, it was known for its role in the development of the "Chicago School", an economic philosophy focused on free-market, minimal government involvement, due to faculty and student interaction with members of the university's influential Department of Economics. In general, the GSB has been a first mover in many areas of business school education [2]:

  • First business school to initiate a PhD program in business, 1920
  • First academic business journal is founded, 1928
  • First university to grant a PhD in business to a woman, Ursula Batchelder Stone, 1929
  • First program to educate hospital administrators, 1933
  • First Executive MBA (EMBA) program for experienced managers, 1943
  • Dean George P. Shultz develops first minority scholarship program at a business school, 1964
  • Students found the National Black MBA Association, 1972
  • First business school to have a Nobel laureate on its faculty (George Stigler, 1982)
  • First business school to have had six Nobel Prize winners: George Stigler, 1982; Merton Miller, 1990; Ronald Coase, 1991; Gary Becker, 1992; Robert Fogel, 1993; and Myron Scholes, 1997
  • First to offer EMBA program in Europe and Asia, and the only business school to have campuses on three continents.

The GSB and its otherwise named predecessors has moved several times across the campus. The school currently occupies a recently completed, modern center for teaching and research, having spent its prior history in historic buildings located on the university's Main Quadrangle.

[edit] Ranking and reputation

Chicago GSB has consistently ranked among the top business schools in the world. Recent historical rankings of the full-time MBA program, as well as the most recent rankings of the Executive and Part-Time MBA programs, in BusinessWeek, The Economist, Financial Times, Forbes, USA Today, US News & World Report, and the Wall Street Journal include:

2007 2006 2005 2004 2003 2002 Exec. MBA Part-Time MBA
BusinessWeek 1 2 2 3
Economist 4 6 6 5 4
Financial Times 6 6 6 4 6 (*1 in Asia)
Forbes 3 3 4
USA Today 3
US News 6 8 6 2 2
WSJ 11 13 5 5 6

Recruiters also voice a strongly positive opinion of MBA students. According to BusinessWeek's biannual MBA rankings: "Chicago's grads were hands-down favorites in our survey of companies that hire MBAs. More than just a factory for churning out economic whiz kids, the school's capacity for shaping students' thinking was at the top of recruiters' minds.[3] "

[edit] Notable faculty members

Distinguished faculty, including Nobel Prize winners, teach MBA students not only established best practices, but also the findings of their latest research. [4] Some of university's most prominent scholars and professors, past and present, include:

Economics and Finance

Strategic Management

  • James O. McKinsey, founder of McKinsey & Company in 1926, pioneered budgeting as a management tool
  • Ronald S. Burt, professor of sociology and strategy, known for his study of brokerage in social networks and the social structure of competitive advantage; author of Brokerage and Closure: An Introduction to Social Capital
  • James E. Schrager, Clinical Professor of Entrepreneurship and Strategic Management, teaches New Venture Strategy. Expert on the Porsche 356 - Author of Buying, Driving, and Enjoying the Porsche 356.

Decision Models

  • John Birge, professor of operations management, former dean (1999-2004) of the McCormick School of Engineering and Applied Sciences at Northwestern University

Marketing

  • Pradeep Chintagunta, professor of marketing, known for quantitative research on purchasing patterns
  • Sanjay Dhar, professor of marketing, known for work in brand management, advertising and promotion, was named by Economic Times as one of dozen "big guns" in marketing from India
  • Christopher K. Hsee, professor of marketing and behavioral science, conducts research in hedonomics, the study of happiness.
  • Peter Rossi, professor of marketing, founding editor of "Journal of Quantitative Marketing and Economics" in 2003 along with the annual Quantitative Marketing and Economics (QME) Conference
  • Jean-Pierre Dube, associate professor of marketing, focuses on pricing strategy
  • Puneet Manchanda, associate professor of marketing, researches quantitative metrics of marketing communication effects
  • Stephen J. Hoch, professor of marketing and behavioral science, researched retail merchandising and pricing and co-authored the influential article "EDLP, Hi-Lo and Margin Arithmetic". He is now at the Wharton School

Private Equity

  • Steven N. Kaplan, professor of entrepreneurial finance and private equity, known primarily for empirical research of buyouts and venture capital
  • Scott F. Meadow, clinical professor of entrepreneurial finance and private equity, known primarily for 40% career IRR and "Meadow Ratio"
  • Luigi Zingales, professor of entrepreneurial finance and private equity, and co-author (with Raghuram Rajan) of "Saving Capitalism From The Capitalists"

Accounting

  • Raymond Ball, professor of accounting, inaugural winner of the American Accounting Association's Seminal Contribution Award (widely considered the highest honor for academic research in accounting)
  • Douglas Skinner, professor of accounting, winner of 2004 Jensen Prize from The Journal of Financial Economics, former faculty chair at University of Michigan (2001-2003)
  • Roman Weil, professor and co-author of popular textbooks "Handbook of Cost Management," 2nd ed. (2006); "Financial Accounting," 12th ed. (2007); "Managerial Accounting," 8th ed. (2006); "Litigation Services Handbook," 4th ed. (2007)

Leadership

  • Marvin Zonis, professor emeritus of business administration, known for work on leadership theory and political risk
  • Warren L. Batts, clinical professor of "Taking Charge," former CEO (1980-1996) of Dart & Kraft (the large conglomerate consisting of Kraft Foods, Duracell, Avon Products, Hobart/Kitchen Aid, West Bend Housewares) as well as former CEO of several other large corporations (Mead Corporation, Tupperware and Primark International)
  • Howard G. Haas clinical professor of "The Practice of Leadership in Business," former CEO and Chairman, Sealy Incorporated, 1967-86; co-author with Bob Tamarkin of "The Leader Within"
  • Wayne E. Baker, associate professor of Business Policy and Sociology, wrote "Networking Smart". He is now at the Ross School of Business and the Institute of Social Research at the University of Michigan.

[edit] Research and learning centers

The GSB promotes and disseminates research through numerous centers and institutes:

[edit] Notable Chicago GSB alumni

Over 37,000 living alumni. Prominent alumni include:

Banking and Financial Services

Private Equity

Investment Management

Marketing

  • James M. Kilts, Vice Chairman of Procter & Gamble and former Chairman, CEO, and President, The Gillette Company[13]
  • Julie Roehm (MBA 1995), former Senior Vice President of Marketing Communications at Wal-Mart, formerly at DaimlerChrysler
  • David Slump, Chief Marketing Officer at General Electric Energy Division
  • Ann Mukherjee, Vice President of Marketing at Pepsico
  • Mason Reay, Director of Marketing (Europe, Middle East, Africa) at Dell Computer Corporation
  • Philip Kotler, author of textbook "Marketing Management: Analysis, Planning, Implementation and Control," the most widely used marketing book in business schools worldwide, received his Master's Degree in economics and did post-doctoral work in behavioral science at the University of Chicago
  • Rishad Tobaccowala, CEO of Denuo, a new media company from Publicis Groupe; formerly Chief Innovation Officer at media arm of Leo Burnett; called "one of new oracles of Madison Avenue" by BusinessWeek (Oct. 17, 2005)
  • Todd Tillemans, General Manager of US Skin Business at Unilever
  • Kenneth Feldman, Vice President for loyalty and e-commerce at United Airlines
  • David Dalka, noted for emerging customer listening and retention strategies in high growth start up companies, frequent speaker and as a notable blogger.

General Management

Government / Public Service / Non-Profit

Technology

Venture Capital

  • John Hershey, Managing Director of Hercules Technology Growth Capital; formerly Managing Director of Infinity Capital and of the technology group at Banc of America Securities
  • Kathryn Gould, Co-Founder and General Partner, Foundation Capital

Healthcare / Pharmaceuticals / Biotechnology

Consulting

  • Fred G. Steingraber, retired CEO of A.T. Kearney
  • Thomas Phelps, head of European consulting, Cutter Associates
  • Tim Jenkins, Co-Founder of Point B. Solutions Group

Strategic Management

  • Debbie Ferruzzi, Executive Vice President of Corporate Strategy for Equity Office Properties Trust, the largest publicly held office building owner and manager in the U.S.

Journalism / Publishing / Media

Entertainment

[edit] See also

[edit] External links

University of Chicago

Academics

Divisions
Biological Sciences • Social Sciences • Physical Sciences • Humanities

Professional Schools
Divinity School • Graduate School of Business • Harris School of Public Policy Studies • Law School • Pritzker School of Medicine • School of Social Services Administration

Other Academic/Research Institutions
The College • Argonne National Laboratory • Graham School of General Studies • Fermilab • Laboratory Schools • University of Chicago Hospitals • Yerkes Observatory

Campus

Breckinridge • Burton-Judson Courts • Chicago Theological Seminary • Gerald Ratner Athletics Center • Hutchinson Hall • John Crerar Library • Midway Plaisance • Oriental Institute • Quadrangle Club • Regenstein Library • Robie House • Rockefeller Chapel • Seminary Co-op • Shoreland Hotel • Snell-Hitchcock

History

Chicago Pile 1 • George Herbert Jones Laboratory • Metallurgical Laboratory • Notable Faculty and Alumni • Old University of Chicago • Stagg Field

Sports and Traditions

Maroons • Big Ten Conference • O-Week • Scavenger Hunt • Summer Breeze • University Athletic Association

Student Organizations

The Chicago Maroon • Chicago Weekly • The Midway Review • Doc Films • FOTA • Hype • The Second City • University Theater • WHPK-FM
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