In support of Mays Business School at Texas A&M University, the Texas A&M Foundation has received a commitment of $25 million from the Mays Family Foundation, the largest single commitment in the school’s history. The gift is part of an overall lifetime giving of $47 million, including a $15 million commitment in 1996 that resulted in the school’s renaming to Mays Business School.


The $25 million contribution will develop students’ entrepreneurial capabilities through a new Lowry Mays Entrepreneurial Leadership Academy program with the Center for New Ventures and Entrepreneurship, and will support several areas of innovation in Mays Business School, including the proposed expansion of the school’s headquarters, the Wehner Building, and the school’s study abroad programs.

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Categories: Dean Eli Jones, Donors Corner, Featured Stories, Mays Business, News, Spotlights, Texas A&M

Curiosity has always been at the heart of Steve Harding ’84’s career. Just after graduating from Texas A&M University with a business degree in accounting and management, he took a job in audit at KPMG Peat Marwick to learn about as many different businesses as possible. Later he took his inquisitiveness with him as he moved into the corporate real estate industry and held controller positions at privately held commercial and residential real estate companies, where he became interested in understanding the financial impact of engineering decisions in buildings such as the Dallas and Houston Gallerias, and finally to his current role as a chief financial officer.

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Categories: Accounting, Business Honors, Departments, Executive Speakers, Former Students, Management, Mays Business, News, Spotlights, Texas A&M

Two Mays Business School faculty members are in the inaugural class of Texas A&M University’s Presidential Impact Fellows. Sean T. McGuire, assistant professor of accounting, and Stephen Courtright, assistant professor of management, were among the 24 announced by President Michael K. Young and recognized on March 7.

McGuire

Young and Provost Karan Watson announced the award, created to support faculty members who are rising stars in their fields and who personify the commitments Young outlined in his October 2016 “State of the University Address” – to advance knowledge through transformational learning, discovery, innovation and impact for Texas and the world. The award recipients come from across Texas A&M’s 16 colleges and schools, two branch campuses, and comprehensive University Libraries.

“Today, we acknowledge a new investment in the excellence of select faculty who through their scholarship, personal commitment and results demonstrate they are rising to meet the challenges of their field and demonstrating impact towards creating a better world,” Young said. “I am proud to name these faculty as the inaugural Presidential Impact Fellows.”

The Presidential Impact Fellows program includes the use of the honorific title for life, and an annual stipend of $25,000 each of the next three fiscal years to accelerate each recipient’s pedagogy,

Courtright

research and service impacts. Identified by his or her dean and confirmed by academic leadership, these faculty members are considered candidates for continued or new national and international acclaim and will utilize this honor to participate in national dialogue, advance their scholarship and create new partnerships.

“This honor furthers our belief that these faculty are and should be considered among the nation’s very best and will enable greater recognition for their excellence,” said provost and executive vice president Watson.

The 2017 recipients will be honored at a March 21 ceremony and will be given a memento of glass art reflecting the synergy of transformational learning, discovery & innovation, and impact formed by Texas A&M commitments to creating a better world.

Categories: Accounting, Faculty, Featured Stories, Management, Mays Business, News, Spotlights, Texas A&M

The annual Retailing Summit, hosted by Texas A&M University’s Center for Retailing Studies (CRS) at the Westin Galleria Dallas, united retailers from across the United States and Taiwan. The CRS is based at Mays Business School.

On Oct. 13-14, executives from PetSmart, Walmart, Fishpeople Seafood, Carter’s, the Dallas Cowboys, Learfield, Tuesday Morning, Bridgestone, CVS Health, Groove Jones and newly formed Mizzen+Main discussed “driving customer-centric retail.”

Becoming the trusted partner to pet parents and pets 

Kicking off the first day, Eran Cohen, a 30+ year fashion veteran and current Executive Vice President of Customer Experience at PetSmart outlined the “big dog” retailer’s approach to creating a customer-centric world.

As the #1 specialty retailer in a $64 billion dollar pet industry, PetSmart has a wide portfolio that includes more than 1,500 stores in the United States, Canada and Puerto Rico.

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Categories: Centers, Departments, Featured Stories, Marketing, Mays Business, News, Programs, Spotlights, Texas A&M

Aggieland Credit Union donated $10,000 to the Master of Science (MS) Business program at Texas A&M University to fund five new companies created by graduate students enrolled in the integrated business experience course. The course is a key component of the “learning business by doing business” approach of the program at Mays Business School.

In the first eight weeks of the fall 2016 semester, students in the course identified a product or service they would like to sell, conducted market research to determine how their product would be received, developed a business plan for a new company and requested up to $2,000 in start-up funds from loan officers of Aggieland Credit Union. The learning objective for the students is creation, refinement and delivery of a fundamentally sound business case. The measure of their success was the outcome of the loan decision.

Each of the five teams was successful with their respective pitches, and Aggieland Credit Union agreed to provide the necessary capital for each company to move forward in executing their business. “The integrated business experience is a remarkable opportunity for students to gain insights and perspectives about running a business that are difficult to obtain in a classroom setting. Our team is delighted to be part of making this experience possible for the students,” said Jason Goodman, senior vice president/COO at Aggieland Credit Union, who delivered the check on Oct. 7.

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Categories: Donors Corner, Featured Stories, Mays Business, MS Business, News, Spotlights, Students, Texas A&M, Uncategorized

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QUESTION: Which PMBA courses, events, self-assessments or experiential activities (ChallengeWorks, Disaster City, International Experience, and Capstone) made the most significant impact on the development of your leadership understanding and ability?

The personal statement of leadership exercise had the most significant impact on the development of my leadership understanding and ability. The process began at the end of the first semester with reflection about effective characteristics of leaders and ended with a draft of my personal statement of leadership philosophy. After completing the leadership journey created through the effective design of the program’s courses, events and activities, I revisited my first draft during the last semester of the program. Equipped with my deeper awareness and understanding of leadership, I was able to significantly improve my personal statement. My leadership philosophy was now clear and concise, but most importantly, it was my own.

QUESTION: What is the most important insight you gained regarding leadership?

One must find his own leadership voice in order to be effective. Although leadership is a skill that can be learned, an authentic message delivered in a natural voice will produce the best results.

QUESTION: What is the most important leadership tool or technique you learned?

Given the collaborative nature of today’s work environment, the framework described in The Five Dysfunctions of a Team by Patrick Lencioni has been very useful. This model points out the common pitfalls that restrict teams from producing optimal results. Understanding these common limitations of teams has allowed me to quickly diagnose problem areas and make adjustments.

Increasing my awareness of the importance of emotional intelligence (EI) has contributed to my effectiveness as a leader. In my pursuit to increase my EI competencies, I have increased my patience and improved my listening skills. This has allowed me to focus on asking the right questions to uncover root issues, understand initial decisions and suggest appropriate alternatives.

QUESTION: Did any professors have a particularly strong influence on your leadership maturation? 

Leadership and communication are closely linked and are both woven into the program from start to finish. Accordingly, Executive Professor John Krajicek was instrumental in my leadership development. His assignments put us in scenarios requiring leadership expertise and challenged our current communication skills to maneuver through the situation. He then asked that we create an individual communication development plan to address any gaps revealed during the previous exercise. This process accelerated the development of both my leadership and communication abilities.

QUESTION: How have you applied your leadership knowledge or tools to your career/job?

At the end of the first semester in the PMBA program, my company decided to close our Houston office and consolidate operations into its headquarters out of state. I was at a personal and professional crossroads, but I decided to continue my career with the company and relocated my young family to Oklahoma. Not wanting to abandon my commitment to the PMBA program, I also decided to continue pursuing my MBA. This choice proved very beneficial as I was able to apply the leadership training from the program to my role as a Revenue Accounting Supervisor leading a group of 11 direct reports. My new staff included external hires, internal transfers, and a couple of “relos,” like myself. The team was changing, but the deadlines to record and distribute approximately $70MM in oil and gas revenues each month were not. I knew we were responsible for producing accurate results on a timely basis, but I needed to influence the team if we were going to meet this goal.

For this, I turned to The Five Dysfunctions of a Team by Patrick Lencioni. After exploring this model during a class session, I decided to implement the concepts into my team meetings. We began with the foundational element of the framework, building and sustaining trust. I introduced the topic of trust during an early team meeting and built on the discussion during subsequent meetings by reviewing the constructs of trust, sharing personal experiences and finally having the team present examples of trusting each other. With this foundation, the next elements of the framework naturally fell into place. Through productive, open dialogue, a commitment was formed, and the group began holding each other accountable to produce the high-quality results I had envisioned.

QUESTION: Have you assumed greater leadership responsibility at your job as a result of your PMBA leadership training?

In March 2014, my company acquired the Eagle Ford Shale assets of a privately held exploration and production company for $6 billion. A month later, I presented my capstone project to the senior management and project sponsor at my company. The capstone allowed me to demonstrate an ability to apply an analytical framework to solve a real business problem facing our company. The leadership skills I developed were also displayed as I was tasked with forming a cross-functional team to solve a business problem outside of my expertise. At the end of April, I was assigned as the Business Lead for converting the systems from the recent acquisition to our ERP system, SAP. I was now tasked with creating the integration plan and leading a cross-functional team of approximately 50 people. I believe the skills demonstrated during the capstone presentation influenced management’s decision to assign this project to me.

These leadership skills developed during the program and displayed during the capstone presentation will also provide the foundation for the success of the SAP conversion project.  Three weeks later, I graduated from the PMBA program, and at the end of May, I was promoted to a management position. In addition to my project role, I am now responsible for leading a group of supervisors and staff of approximately 50 people. I would not have realized this success or have been prepared for the responsibilities that accompany these roles if it were not for the leadership development I experienced during the PMBA program.

QUESTION: What advice would you give to prospective PMBAs who are considering pursuing the degree?

I would advise prospective students to be aware of the impact of leadership, and the shift in perspective that is required as one moves from pursuing individual achievement to influencing others. Given the professional experience level for most prospective PMBA candidates, individual contributions have highlighted the success they have realized to date. These accomplishments may put these talented individuals in a position to lead, but a different set of skills is required for success in a leadership role. These skills are being taught in the Mays PMBA program, and it is essential that candidates do not let these opportunities pass them by.

Categories: Spotlights

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Why an MBA?

Before deciding to pursue an MBA, I had graduated from the U.S. Military Academy at West Point and served as a Commissioned Officer in the Army. I had a lot of peers that were also separating and realized they were getting a great deal of variety in job offers. I wanted to make the transition less of a shot in the dark and dedicate some time to learning as much as I could about what was out there and make the most informed decision possible when shaping the next stage of my life. Additionally, I believe it’s a great way to stand out.

The Texas A&M MBA.

The state of Texas offers top-notch veterans benefits and Texas A&M in particular truly understands and appreciates the culture of service members. From first speaking with an admissions officer to contacting old professors over my summer internship, the Texas A&M MBA program has been a small, close family.

Life as a Texas A&M Student.

Most MBA programs will be very demanding, and Texas A&M is no exception if not more so due to our compressed schedule. It’s been uncomfortable at times but a year later during my summer internship; I’ve realized how much I’ve learned. Class occupies much less time than it did in my undergraduate degree but the commitment to studies outside of class more than make up for the difference. Expect class to be a culminating event in which you get out of it what you put in. Finally, there’s a healthy injection of professional development outside of your studies to ensure you are as well prepared outside of the academic world.

Your future?

Through my internship search and what’s soon to be a full-time employment search, I’ve found the opportunities for function, industry, and locations are limitless. I’m excited to continue shaping my decision.

Categories: Spotlights

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Why an MBA?

After getting my undergraduate degree in Agriculture Economics I worked for 4 years in Agribusiness, doing sales and account management for Elanco Animal Health (a division of Eli Lilly). In the account management role I was stewarding the business relationship with customers that were large, complex organizations and I found myself needing a better understanding of the different functional parts that make up a whole organization. My interest in entrepreneurship also drove me towards an MBA.
The Texas A&M MBA

The Aggie Network is exceptional and I wanted to be a part of it. The culture of the university was a draw for me as well as the shortened program length. One of the key assets of Mays is the small program size, something I couldn’t fully appreciate until the program started.
Life as a Texas A&M Student.

This is a high impact program for many reasons but most important is the people. Dr. Berry’s services marketing class changed the way I view how a company operates and interacts with its customers. Group projects transformed my view of teams and what it really takes to get great results – the real “aha” moments come from brainstorming and kicking around ideas with people as you push through to learn together. MBAA events and interactions across the Aggie Network continue to reinforce that the Aggie family is real and invaluable. Leadership discussions in John Krajicek’s class grounded us in the role of self-awareness and why it matters as a leader. The list goes on, but people are at the heart of what makes this program great.

Your future?

I plan to use what I’ve learned through the people and classes in the MBA program to pursue a career in entrepreneurship by creating organizations that impact lives. I have no doubt my lessons, experiences and people from my time at Mays will be the cornerstone of this pursuit.

Categories: Spotlights

Boswell lt.

Employees who fear their jobs are at risk are more likely to stay engaged with their work colleagues than those who feel more secure, according to research from a team led by Mays Business School Management Professor Wendy Boswell.

The fallout from working virtually around the clock varies, from stress to burnout to work interfering with the home life.

In a recent study, Boswell and her colleagues on the project, Julie Olson-Buchanan of California State University, Fresno, and Brad Harris of University of Illinois (a former PhD student at Mays), focused on the role of the context in shaping how employees manage their work and family boundaries. Boswell described the cycle in a simple illustration: Job insecurity leads to lower use of family support program and more willingness to integrate work into an employee’s personal life (i.e., blur boundaries). These behaviors in turn lead to higher burnout as well as more work-family conflict.

The study has been accepted for publication by the journal Personnel Psychology.

“Drawing on an adaptation perspective, we expect employees feeling greater job insecurity to engage in adaptive work behaviors, including less use of work-nonwork support programs and greater willingness to let work permeate into one’s personal life, which in turn will associate with greater work-nonwork conflict and emotional exhaustion,” Boswell explains.

Data were collected from employees within a large energy company at two points in time. Results support the model, offering important insight on employee behavioral responses to job insecurity and key mechanisms through which insecurity may foster diminished employee well-being. It also offers firms with important practical insight on how, when faced with job insecurity, employees may engage in behaviors that are ultimately detrimental to their well-being and long-term effectiveness. Boswell emphasizes: “It is during such unstable and stressful times when employees need to utilize organizational support resources the most and strike a balance among their multiple work and personal demands; yet our results suggest that employees may be hesitant to do so, likely out of fear of further risk to their job and a desire to be seen as a valuable – perhaps even indispensable – contributor.”

Boswell’s latest study is related to earlier research that focused directly on the role of communication technology in blurring the boundaries between work and family. Published in January 2012 in Journal of Vocational Behavior, “Communication technology: Pros and cons of constant connection to work” was one of the first studies to specifically examine the predictors and consequences of using communication technologies (e.g., email, cell phones) for work purposes “after hours.” The findings revealed how employees who strongly identified with the job and/or were ambitious were particularly likely to stay connected after hours and that doing so associated with greater work-nonwork conflict.

Boswell’s research targets managers and organizations by examining how to best manage and develop policies around the work-nonwork interface, although the topics of work-family boundaries, burnout and work-family balance are definitely interesting to individuals.

She says her interest in work-family issues began when she started a family a decade ago. “I know first-hand the challenges of balancing demands, but I also know there are tradeoffs and choices we all must make. Understanding how people make these choices, how they can be more effective in balancing demands, and the various outcomes (personally and for a firm) has real practical importance,” she explains.

“I’m fascinated with how people manage multiple demands (and we have many in our lives!), and how individuals vary in managing these demands (e.g., different needs, preferences, goals). Certainly, technology has changed how and when we work, and I always like to ground my research in fairly practical and timely issues. “The stress of job insecurity and balancing one’s life and work demands is a very practical, timely and important one for our society.”

She says she is interested in observing “somewhat counterintuitive things” and wanted to explore an area that the literature so far has not offered a clear answer for: Why would people who are stressed by their employment situation (e.g., feel insecure) work harder/more?

“Much of the literature suggests insecurity should make you ticked off at your company, yet anecdotally, we were seeing employees put their heads down and dive in to work in the face of a poor economy,” she explains. “And, then, what would be the longer-term outcomes of this – that is, isn’t it likely that this behavioral adaptation to insecurity could actually have long-term deleterious effects for the individual?”

Boswell teaches courses on human resource management at the undergraduate, graduate (master’s and doctoral) and executive levels. She is the holder of the Jerry and Kay Cox Endowed Chair in Business and she received the 2004 Center for Teaching Excellence Montague Scholar Award.

Her research focuses on employee attraction and retention, job search behavior, workplace conflict and the work-nonwork interface. Her work has appeared in such journals as Academy of Management Journal, Academy of Management Review, Journal of Applied Psychology, Personnel Psychology, Human Resource Management, Journal of Vocational Behavior, and Journal of Management. She serves on the editorial boards of the Academy of Management Review, Journal of Applied Psychology, International Journal of HRM, and Journal of Management, and is an incoming Associate Editor for Personnel Psychology. She served as the 2012-13 Chair of the HR Division, Academy of Management.

Categories: Mays Business, Spotlights

Sorescu, Alina

Many research studies have analyzed customer-based brand equity and how it relates to consumers’ willingness to pay for a branded product, but researchers have not yet questioned whether the same brand equity can impact executive pay. Alina Sorescu, associate professor of marketing at Mays Business School, saw a correlation between brand equity and top management of well-known brands’ willingness to work for less compensation.

Sorescu first saw patterns forming within academia when PhD candidates chose to study at more prestigious schools who offered them less scholarship money over lower-tier schools offering a much larger amount of scholarship money. She theorized the PhD candidates’ decisions were based on the opportunities created by attending a more prestigious school. In the long run, the benefits of taking the option that provided less funding would pay off because of the brand equity that accompanies a prestigious degree. As she repeatedly observed this pattern in academia, she began applying this theory to other scenarios.

Sorescu and her colleagues, Nader Tavassoli and Rajesh Chandy – both from the London Business School – began looking for connections between brand equity and the salary of top five executives across a large sample of firms. Sorescu wanted to know if top executives of companies with well-known brands received lower compensation.

She began her data collection with U.S. Young & Rubicam BAV metrics survey to obtain brand strength, executive level compensation data from ExecuComp, a Standard & Poor’s database and firm level data which yielded a sample of 10,107 observations for all top executives and 1,869 observations for CEOs, across 393 firms.

Her findings were in line with the proposed theory. Moving from a brand with average brand equity to one whose equity is in the 80th percentile yields a 12.13 percent decrease in CEO pay, or $1,268,130 in savings for the average CEO compensation, and a 2.42 percent decrease in pay, or $89,978 in savings for the average non-CEO executive

In an effort to explain why strong brands should attract executives at lower levels of pay, Sorescu explains the definition of employee-based brand equity as “the value that a brand provides to a firm through its effects on the attitudes and behaviors of its employees.” This concept offers a new look at the returns on branding, by highlighting a brand’s ability to cut costs instead of increasing revenue. “The payoff to brand investments largely exists in the revenue gains that they can yield. Our approach flips this notion by looking at the cost side of profits, an area rarely examined in marketing,” she explains. “We suggest that a significant part of the returns to marketing investments in brands may be in reducing payroll costs.”

Taking a look at the psychological effects strong brands have on executive pay Alina offers an identity-based framework. “The overarching theme underlying this effect is self-enhancement,” says Sorescu. “Strong brands offer greater possibilities for self-enhancement to the executives associated with them than do weak brands.” People choose to work for companies with strong brands because brands build reputation and those connections create future opportunities, “Self enhancement is seen as a substitute for pay.” Brands are seen as a signaling tool, being associated with a strong brand says something about you; the long-term benefits outweigh the immediate salary cut one may be willing to take.

“Our results imply that researchers should take a broader view of the contributions that brands make to firms and the effect they have on the balance sheet,” Sorescu says of employee-based brand equity. “Moreover, they should make use of strong brands in executive pay negotiations that are typically viewed as being outside the realm of marketing.”

– “Employee-Based Brand Equity: The Impact of Customer Perceptions on Executive Pay” by Sorescu, Nader Tavassoli and Rajesh Chandy (both of the London Business School) is forthcoming in the Journal of Marketing Research. Sorescu is holder of the Rebecca U. ’74 and William S. Nichols III ’74 Professorship at Mays.

Categories: Mays Business, Spotlights