At a time of tight budgets and achieving greater results with less, it might be simpler to cut back on anything extra—but that wouldn’t be fair to students who are preparing to be tomorrow’s leaders.
At the Sellinger School of Business and Management, that’s where the Dean’s Fund comes in. The Dean’s Fund supports initiatives and projects that don’t fall within the set budget for the fiscal year—but which offer faculty and students innovative ways to expand their knowledge, to enhance their learning experience, and know that as they are investing in themselves, Sellinger is investing in them.
Each year, the Sellinger School of Business and Management at Loyola University Maryland earmarks special funds that support excellence in faculty teaching and research, student programs, and community outreach that benefit the Sellinger School’s students, faculty, partners, and alumni. The funds expand the total breadth of the academic experience from classroom enhancements to experiential study opportunities, to access to innovative faculty research.
In this month’s feature, we highlight a sampling of the ways this Dean’s Fund is adding value to our community and networks this year:
- The technology services and IT sectors have enjoyed a substantial rise in their share of both the Greater Baltimore economic makeup and the national economy as a whole. As more technology-based jobs are being created, the integration of IT topics in business school programs has become paramount. The Sellinger School has invested in the growing field of cybersecurity, one of the greatest needs in today’s business environment, to prepare students as management leaders who understand the importance of information security. Funding helped launch Sellinger’s Cybersecurity Certificate program, a 15-credit program designed for business professionals seeking management-level strategic understanding and enhanced skills in cybersecurity and information assurance. As part of the curricula for both Cybersecurity certificate graduate students and information systems undergraduates, Phyllis Schneck, Ph.D., chief technology officer for public sector at McAfee Inc. and Loyola’s 2012 Lattanze Executive of the Year, lectured on “The Business Plan of the Cyber Adversary.”
“Events such as the Lattanze Executive of the Year help establish a national reputation for Loyola,” says Paul Tallon, Ph.D., associate professor of information systems and operations management and director of the Lattanze Center. “They engage a wide range of students, faculty, alumni, and members of the Baltimore business community. The Lattanze Executive of the Year is now in its 21st year having features speakers from multiple corporations including Verizon, Home Depot, Wal-Mart, UPS, and many more.”
- More established disciplines benefit from innovative updates as well. The Dean’s Fund supported an accounting department faculty member to attend the Forensic Accounting and Fraud Investigation course at West Virginia University. Knowledge from this course will be used to begin creation of forensic accounting courses to meet the demands for forensic accountants and fraud investigators and also enhance the curriculum of the Accounting Certificate program.
- Sellinger has continued its commitment to new research as a means of strengthening the value and quality of education in a rigorous academic environment. Innovation management helps bring new ideas to reality, and contributions from the Dean’s Fund in 2012 supported new ideas with the presentation of faculty research abroad and the planning of a thought research incubator. A member of the Sellinger marketing department traveled to the European Institute for Advanced Studies in Management’s International Product Development Management Conference at the Manchester Business School in Manchester, U.K., to present a paper on product design briefs and new product development. This presentation shared faculty research with a global audience, and contributions from that audience are being used in the development of new graduate-level marketing strategy courses. In addition to global collaboration, a research series to be hosted at Loyola for the economics department is in development. Plans are underway for hosting researchers from both the Sellinger School and other universities to come and share concepts and work with economics faculty, students, alumni, and members of the business community interested in attending.
“Funding and sharing research that is innovative positions Loyola as a thought leader at the local, regional, or international level,” says Timothy Quinn, J.D., associate dean of the Sellinger School of Business and Management. “It is also important to our mission of ensuring that information presented and discussed in the classroom is relevant to today’s business climate and for tomorrow’s business forecast. Research, particular business research, is applicable to function each day. The most successful business executives always have the future of their company or industry in mind, and paying particular attention to research helps them achieve a prosperous outlook. Research tends to lead production on average of five to seven years, affirming the importance of planning ahead.”
- Finally, portions of the Dean’s Fund were put toward giving students the tools to prepare and lead business into the use of new applied technologies. The purchase of Bloomberg trading terminals was made for use in the Student Applied Portfolio class as well as the IT of Financial Services course and to certify students in that technology. Terminals have been placed in the Student Experiential Learning Lab (SELL), a state-of-the-art trading room that allows students access to the three most widely used databases in the Finance industry—Reuters, Morningstar, and Bloomberg—as well as the Timonium and Columbia Graduate Centers. Funding also led to the acquisition of Morningstar Direct Global Investment Analysis Platform for student learning and faculty research. These technologies prime students to graduate from Loyola having applied their theoretical knowledge to make investments, honed their presentation skills, and learned how to conduct research and interpret the data, all ready to be applied in a professional environment.
“The Sellinger Experiential Learning Lab—SELL, has helped us faculty become more effective teachers, and has helped the students develop a more competitive edge. As an added benefit, the faculty have also been able to use it for research,” says Frank D’Souza, Ph.D., assistant professor of finance. “Enhanced by the SELL, applied classes, such as like I.T. for Financial Services and the $500,000, student-managed Sellinger Applied Portfolio course, truly help us professors live out the value of cura personalis. The core curriculum prepares students with the tools that they need— effective writing skills, quantitative skills, critical thinking, and ethics. The business core builds on that with a solid foundation in the different aspects of business. With the SELL, though, we took a great leap forward and are now able to further the development of our students with a hands-on, real-life investing experience.”