learn from outstanding " real world" their employees. Through the matching ... From the Dean executives and managers. gift program, these accounting firm s, A second area wh ere external sup­ th eir fo undations, and employees make port provides academi c development major fin ancial contributions each year ver th e past few years, much has opportunities can be illustrated by the to professorships, scholarships, been said about excellence in relati onship the schoo l has with Larry curriculum' development, and to Beta 0 management and quality control H. Mill er; owner of th e Utah Jazz and a Alpha Psi, the national accounting hon­ in the workplace. Marriott School number of auto dealerships. Miller has orary fraternity. Firm representa ti ves fa culty and administrators have looked willingly given lectures, provided serve on an accounting advisory board carefully at thi s trend and its implica­ student internships, and assisted and recruit students for internships and ti ons for ma nagement educati on. We faculty research. He opened the Jazz full-time employment. have determined th at to achi eve excel­ organi zati on to a team of researchers The second example is the excep­ lence and quality in management composed of fo ur fac ulty members and ti onal support received by the Skaggs educati on, fo ur educationa l characte ri s­ Institute of Reta il Management (SIRM). ti cs are necessary: we ll-prepared Each year th e institute sponsors students; well-qua lified faculty; stro ng, Reta iling Fortnight. During this two ­ well-developed programs; and superior wee k peri od, SIRM Advisory Board ex ternal support groups. My comm ents members, representing major retailers, will fo cus on the fo urth characteri sti c­ visit campus to wo rk with students and ex ternal support. fac ulty. They are joined by representa­ Hi stori cally, the MSM has received ti ves from other retailing organi za ti ons strong support from va ri ous external to present programs a nd offer student groups. We are fortunate to have many internships and employment opportuni­ alumni and fri ends who are committed ti es. This external support has helped to assisting th e school as it moves fo r­ the Skaggs retailing program develop wa rd in its quest for excellence in man­ into one of the fin est retailing programs agement educati on. In addition, many in the country. compani es have joined ranks with us to The third example of substantial provide mu ch-needed fin ancia l and support is Uni on Pacifi c. In response to professional support. a proposal on a technology-enh anced I would like to share with you exam­ learning environment (TELE), Union ples of the various kinds of external Pacifi c is funding development of a support th at are essenti al to the contin­ four graduate research assistants. Their Tanner Building TELE classroom. uing development and well- being of the goal was to research and write a man­ This educati onal concept includes Marri ott School. The school receives agement case stu dy on th e development computers and software that bring home excellent support for its va ri ous lecture and completi on of the Utah Jazz Delta learning points without taking major seri es and th e Executi ve-in-Residence Center project. This multimillion-dollar amounts of time to write or di agram on Program. During any given yea1; 90 lo project offered a research challenge, the blackboard. Gra phs, charts, formu­ 100 specia l lecturers visit campus as a coupled with hands-on business ex peri­ las, etc., can be immediately shown result of alumni and fri end s' in vo lve ­ ence. With Miller's direct in volvement on the screen and a pointer calls ment with the schoo l. Some come as and th e cooperation of Jazz organization attention to specifi cs. part of a commitment made to the members and others who played major Individuals in support groups and school through support groups, such as roles, the research team pursued the alumni also play a major role in the the Entrepreneur Founders and th e project to completion. The resulting development of MSM programs. The Grant Taggart Program of Insurance case study appears in Strategic International Student Sponsor Program and Financial Services. These groups Management: Concepts and Cases (ISSP) was the dream of a National sponsor the Entrepreneurship Lectures (Richard D. Irwin, Inc., Boston , Mass). Advisory Council member. Wilford and th e Insurance and Financial MSM students, as well as students Cardon, a former Brazilian mi ssion Servi ce Lecture Seri es with outstanding across the country, will benefit from this president, wanted to help talented success. The Executive Lecture Se ri es cooperative venture. students from Brazil to pursue graduate gives corporate Ame ri ca an opportunity The school receives substantial help degrees at BYU. He and Duke Cowley to participate. Members of the National from companies and organizations. started to loan fund s to one or two Advisory Council (NAC) and the Three good examples are the support students. Wilford presented the pro­ Alumni Board provide the names and received from major accounting firm s gram to the AC Executive Committee, those vital links that bring major man­ and retailing companies. First, the and NAC members caught th e vi sion. agement fi gures to campus. External accounting program e nj oys major Tod ay, nearly 30 individuals and support of th ese lectures is essenti al lo endowments from Ernst and Young, organizations have contributed to this accomplishing th e desired goal: to Arthur Andersen, Deloitte and Tou che, loan program to allow international prov ide an opportunity for students to Peat Ma rwi ck, Price Waterhouse, and continued on page 12 FALL 1992 CONTENTS 2 INTERNATIONAL COOPERATION/ COMPETITION THE J. WILLARD Robert C. Crawford AND ALICE S . Our thinking about cooperation/competition is always MARRIOTT SCHOOL done against the backdrop of our experience and intellec­ OF MANAGEMENT tual influences. But f ew of us have direct experiences of the BRIGHAM YOUNG kind that helps us analyze the effects of international UNIVERSITY cooperation.

6 INVESTMENTS William R. Lambert and Roger G. Clarke Publisher K. Fred Slwasen Most of the time the unexciting yet sound, Long-term Editor investment strategy is actually the most profitable, and Ed Nelson it surely gives the greatest peace of mind though the Associate Editor titillation of our greed and gambling instincts is seldom William H. Baker satisfied. Editorial Assistants Jeff Broadhead Andrea Thomas 10 INTERNATIONAL STUDENT SPONSOR PROGRAM Copy Editor Byron Bronk 13 UPDATE Art D irector Brace A. Patrick

Designers 17 YEAR IN REVIEW David Eliason K. Fred Skousen Joleen f-laghes

Published by the 30 HEALTHCARE REFORM : WHERE DO WE GO FROM HERE? J. Willard and Ali ce Mark J. Howard, Congressman Ron Packard , S. Marriotl Schoo l of Man agement, Brigham Robert J. Parsons, and Roger N. Walker Young Univers it y, A panel discussion on current healthcare iss ues . Provo, Utah. Copyri ght 1992 by Brigham 35 FACULTY INSIGHTS Young Uni versit y. PAGE 2 All ri ghts reserved. All communications 36 LETTERS should be sent to EXC HANCE, 588 Tanner Building, Brigham 37 CLASS NOTES Young University, Provo, Utah 84602. Telephone

(801) 378-2182. 41 SPOTLIGHT ON .. . PAGE 6 The views expressed in EXCHANGE are those of the various authors and not necessar il y th e Marriott Schoo l of Management.

Cover Photograph by

John Snyder PAGE 30 FOR MANy, cooPERAT10N TENDS TO BE VIEWED

,- ./ ,., / / _, / / r / / _:,/ _, / / ,-' ,., / ,,., _, / _, _, .; / ~- ..... -.--' _, / -;:--.<. ,, r' ,_, / .... / r- ..-' /' ,,.- c / / ,,., ,..-· ../, ,,. ,.., / -,,. · ./ / ,,.. ../ ,, .... ,..-' ../ .- _.. ,,.,. /• - ,,., ~ -· _, _, ...... -J _, _, __, .-- / _.. ~ - .,...:- ._/ ....- c .....:.. _ _, ,,.. ~ ~ ~ ~ _, __, - ~/ _. -- ./ -

W"lLE I S REGARDED UND1s1RABLE. 1rhe street on which I usually drive from home to campus faces the local II

Steel Workers Union Hall. On the fence in front are twin signs: "YOU AND YOUR AMERICAN MADE CAR ARE WELCOME HERE!" To me

fUll these signs present a paradox. I wonder if the union members see the irony in the fact that while their if ln .1

jobs depend upon the company's ability to export steel to unbiased global customers, union workers have a bias against global suppli-

R obert G. Crawford ers of "non-U.S.-manufactured" cars. The signs are more anach· IN.I

Department of

Managerial Economics ronistic than before, because now most steel workers, like the general public, would be unable to identify

Illustration by

Alan E. Gober a u.s.-made car. A " U.S.-made" car is only a statistic, a domestic fHll

content percentage. There is, in fact, no U.S. car made with 100 percent domestic content. @) So how do these steel workers,

whose very jobs depend upon global steel buyers' cooperative buying habits, ratio· SS

nalize biting the hand that feeds them? International cooperation/competition so pervasively and subtly influences our daily activities

that we seldom think of it. But if we do think of it, how should we think? Let me pose a few questions )VJ JUI

EXCHANGE 3 that suggest a way. Am I cooperating or exaggerated compared with the gradual because they persist in our "saying." competing if I: encroachment of ideas. Not, indeed, Without economic boundaries, there is a) volunteer to bear some of the ri sk of immediately, but after a ce1tain interval; no issue of "internati onal" economic your business activity in a way that for in the field of economic and political anything. National political borders allows you to retain your business? philosophy there are not many who are make us see things from the perspective b) buy a business that results in giv­ influenced by new theories after they are of a nationai " us," which then governs ing you a more secure job than you cur­ 25 or 30 years of age, so that the ideas our behavior. For example, we rently have? which civil servants and politi­ don't keep statistics on the mag­ c) build a higher quality car than you cians and even agitators apply to nitude of trade between Utah and would otherwise be able to purchase and, cun-ent events are not likely to be New York, but do keep them on by so doing, force other manufacturers to the newest. But soon or late it is trade between Utah and improve the quality of their cars? ideas, not vested interests, which Alberta even though Utah d) buy the products that you produce, are dangerous for good or evil. may be closer in culture, lan­ thus helping you extend your market The word theory comes from the guage, and distance to Alberta than it share and increase your profitability? Greek "theoria," which means is to New York. Why? Because of an e) improve the quality of a product you "vision"-"a way of seeing." The con­ "us" versus "them" mentality of an arbi­ cun-ently rely on and find a way to pro­ vention of scientific theory, including trarily established political boundary. duce and sell it to you at a lower price economics, is to think of science as a way Why adopt our political boundaries as than you now pay? ' of "saying what we see" and empirically economic boundaries? True, they facili­ Through these actions you can see that testing what we say by what we see, as if tate the collection of tariffs to suppmt I'm both cooperating and competing. I "seeing" is outside or p1ior to saying. political acti vity, but tariffs work against am cooperating with you and competing What is seen is something "out there" to the very employment objecti ves of with your cun-ent supplier or other busi­ which we have direct access and which national politics. It is now common nesses. A given behavior is viewed as we then describe "linguisti cally." An knowledge that the Hawley-Smoot tariffs cooperating or competing depending only alternative view, which postmodern of the thirties were a major contributor to upon the perspective taken. All of these philosophers of science regard as prope1; the Great Depression and the loss of jobs activities will be beneficial to American is that we do not have direct or al inguis­ that they were purpo1tedly preserving. consumers and are favored by them. tic access to things as conventionally Thus, taiiffs restrain trade between Fmther, the result doesn't depend on who assumed. Hence science is as mu ch a Utah and Alberta-something constitu­ I am, or whether I am the same national­ case of "seeing what we say" as "saying tionally forbidden between Utah and ity as you. Yet the union's signs say just what we see."2 New York. Ta1iffs, long recognized by the opposite. Why? This postmodern view turns the con­ economists as being harmful, are a bar­ ventional understanding of"objective" rier to international economic coopera­ Economic Theory and Experience science on its head by recognizing the tion. By adopting the so-called free trade Our thinking about cooperation/compe­ jointness of the "saying" and the "see­ agreement with Canada and Mexico, we tition is always done against the back­ ing." This jointness of saying and seeing are now politically recognizing the drop of our experience and intellectual emphasizes language as the medium of impracticality of these economic bound­ influences. But few of us have direct access to our world: Thus, the impo1tance aries as well as the theoreti cal nonsense experiences of the kind that helps us of Keynes' recognition that ideas (linguis­ on which they are based. analyze the effects of international coop­ tic seeing) are most dangerous for good or The accounting stati sti cs on trade eration. However, our thinking is never evil-particularly as they relate to matters between the political boundaries result in independent of some kind of theory. of global trade. And thus, the focus on the arbitrary "deficits"- mere accounting What is the implicit theory grounding language of economic relations. artifacts-to which the traditional mean­ th e steel workers' signs? Keynes' I link cooperation/competition with a ing of a personal defi cit is commonly General Theory concludes with the fol­ slash to draw your attention to the theo­ attached, along with all the worries such lowing interesting claim: retical view that competition is an eco­ perso nal defi cits constitute. These wor­ The ideas of economists and political nomic way of cooperating. I emphasize ries give rise to political action to "solve" philosophers, both when they are ri ght this view of economics because it is com­ the problem of these deficits, which fur­ and when they are wrong, are more pow­ mon for others to view cooperation and ther leads to folly. erful than is commonly understood. competition as opposite ends of a social The "us" versus "them" way of think­ Indeed the world is ruled by little else. action continuum. For many, cooperation ing gives p1i01ity to national issues-the Practical men, who believe themselves to tends to be viewed positively, while com­ national perspective-which tends to be 0 be quite exempt from any intellectual petition is regarded as undesirable. personalized.'1 All the baggage of mer­ influences, are usually the slaves of some cantilist thought and its protectionist defunct economist. Madmen in authority, Economic vs. Political Boundaries corollaiy are carried along with this who hear voices in the air, are distilling Boundaries, even if necessary in the nationalistic way of viewing our relations their frenzy from some academic scrib­ domain of politics, are arbitrary and with others who fmmerly merely used a bler of a few years back. I am sure that make no economic sense. Yet th ese arbi­ different language and were separate from the power of vested interests is vastly trary boundaries pervade our "seeing" us in time and space when the idea of a

4 EXCHANGE nation was first conceived. These former account balance (CAB) is always oppo­ American investor group led by Marvin differences gave apparent significance to site in sign and equal in magnitude to the Davis to Japanese owner Minoru Isutani terms "us" and "them," creating the nat­ capital account balance (KAB) . Further, for $841 million.6 Isutani had financial ural pri01ity for the personalized "us." one nation's deficit is always another difficulty ananging a private member­ Today's technology renders these differ­ nations' surplus. Thus the cunent nation­ ship plan. for the resort and within the ences effectively nonexistent. al income accounting system allows that year sold it to another Japanese owner It is now entirely appropriate to ask while some nations may have a trade for $500 million. Isutani bought at the the questions "Who Is Us?" and "Who Is deficit, the global economy can never be height of the California real estate boom, Them?"-as Robert Reich has done.4 in deficit unless we commence trade with and analysts believe he paid as mu ch as Reich's conclusion is that the us and Mars and keep interglobal trade statis­ $300 million too much for the property­ them distinction does not apply to prod­ tics. Thus if "us" country CAB is nega­ reflected in the $341 million loss he ucts made in an era of global specializa­ tive (exports are less than imports), its realized upon selling the resort. Who is tion and exchange. But most Americans KAB is positive (there is a net inflow of to say that billionaire Marvin Davi s and still think othe1wise, and thus we have capital from "them" to "us"). hi s group of investors made a mistake in the political folly over trade defi cits and What does a negati ve CAB, a trade selling the resort? Such a repositioning their supposed harm. During the decades deficit, mean? It means, for instance, of their investment portfolio now appears of the seventies and eighties, when the that if an " us" economy wants more as an astute management action. This U.S. had a merchandise trade deficit 90 capital for development of industry to $841 million was part of the U.S. capital percent of the time, civilian employment provide better employment opportuni­ account surplus, and there was an offset­ grew from 78 million to 118 million-a ti es for "us" residents than it is able to ting deficit in the cunent account bal­ 40-million, 51-percent increase. During provide for itself, it can do so only witn ance-an accounting number-to match the supposed economic wonder years of cooperation from "them." "Them" must this fortuitous capital gain. Are you wor­ the fifties and sixties, the U.S. never run a trade defi cit and export capital to ried about that accounting number? Yet experienced one merchandise trade "us." Or if "them" investors see better it is this and thousands of other similar defi ci t. Yet civilian employment grew by opportunities to invest their capital with transactions that make up the capital only 18 million, from 59 to 78 million-a "us" (as the U.S. did in the fifties and account surplus that allowed "us" in 36 percent increase.5 sixti es), they can only do so by inducing 1991 to create nearly $100 billion in I further split the adjective 'interna­ a cunent account surplus with "us." new capital beyond the amount financed tional' from the cooperation/competition Internation deficits and surpluses are by "our" saving. terms, because I believe it adds little to the head and tail of the same coin. If So how should we rewrite the signs for our understanding of cooperation/com­ one is bad, so is the other. It makes the steel workers so that we'd feel wel­ petition. Further, it perpetuates between more sense to speak not of heads or tails come, not embanassed by their myopia? peoples of the world a division that but of coins. It is such trade defi cit "WE WELCOME YOU AND YOUR business seeks to overcome. Using the activity th at is th e coin for the remark­ STEEL!" adj ecti ve international refl ects a danger­ able revitalization of the Mexican econ­ ous attitude if it implies an economic omy during the decade of the eighties. Notes priority to " national" economic activity. The existence of a trade deficit by itself 1 These are not hypothetical. Examples of National economic activity is like th e is no indication of problems for "us." each are: "U.S.-made" car; it doesn't exist. The Even if the trade deficit arises because a) Nintendo president Hiroshi Yamauchi need to distinguish between interna­ "us" is importing large amounts of con­ heads a group investing in the Seattle Mariners; tional and national economi c events sumer goods from "them," which goods Yamauchi is putting up $75 million of hi s reveals that we have carried over into are financed by capital inflows from own money! b) Bridgestone's purchase of Firestone Tire. our theory some ideas which may not be "them," we cannot necessarily draw neg­ c) Toyota and Honda relative to GM, Ford appropriate or helpful given the arbi­ ative conclusions. These capital inflows and Chrysler. trary nature of the di stinction. may be loans-bonowed capital-or may d) Forrest products, agricultural products, be capital inflows that result from the software, chemicals, nuts and bolts, industrial Global Accounting sale of assets owned by "us." Thus, even equipment. National income accounting presupposes if the capital account surplus is just e) Computer chips, TVs, and VCRs. 2 an "us" economy in relation to a "them" financing an increase in current con­ See Lloyd Eby's article "Renections on the Phi losophy of Science" in The World & I, economy. National income and national sumption, we are not forced to draw the September 1991, pp. 531-45. product are the aggregate of all "us" conclusion that this is a bad situation for "See Robert B. Reich's book The Work of expenditures minus purchases from "us." Until we know the composition of Nations, Alfred A. Knopf, New York, 1991, espe­ "them." In this accounting system there the imports, how they are financed and cially the first three chapters. are two accounts: (a) the current account, the financial posi tion of the individuals 4 See Robert B. Reich, " Who Is Us?" Harvard whi ch measures all trades of goods and making these transactions, nothing at all Business Review, January-February 1990, pp. 53-64, and "Who Is Them?" Harvard Business services, and (b) the capital account, can legitimately be concluded from just Review, March-April 1991, pp. 77-89. which measures all transactions related the existence of trade deficit. 5 1992 Economic Report ofthe President, tables to the ownership of assets. The account­ For instance, two years ago Pebble B-31 and B-100. ing system is such that the current Beach Golf Resort was sold by an "Wall Street Journal, February 20, 1992.

EXCHANGE 5 NV E S TM E N T STRATEGIES F 0 R

F U T U R E FINANCIAL GROWTH

As the U.S. economy struggles to get back on its feet, two frequently asked investment questions are: • What should I invest in ifl believe in a slow-growth future? • I just switched all of my retirement funds into stocks from my bond and money market accounts. Do you think that was a good idea?

A Slow-Growth Economy? To address the first question, one should first differentiate between the growth rates of the economy and the stock market. In the very long run the stock market wo uld obviously be positively correlated with the general directional growth in the economy. However, the stock market has traditionally led the major cyclical swings in the economy from two months to a year. Thus, the major market move of 1991-92 may be predicting a major economic recovery-or it may be giving a false signal. The market wouldn't have to keep rising if the economy starts its recovery, since the market has already discounted some part of an WILLIAM R . LAMBERT economic rebound. In any case, the general consensus of a slow­ I nstitute of Bu si n ess growth economy may not be an accurate prediction of the future. Ma n ageme n t • Falling interest rates have also been a predictor of a rising stock ROGER G. CLARKE market and economy. On the one hand, some argue that the improving President

T SA C a p ital Management trend of U.S. effi ciency, quality of goods, and competitiveness could increase our growth rate. Furthermore, the increased development of the international markets, and especially the modernization of Eastern block and Third-World countries, could significantly bolster the ILLUSTRATION demand for U.S. goods. BY On the other hand, some take a more critical view of our economic

RAFAL OLBINSKI future. They suggest the following predictions:

6 E X CH AN GE

• Our loss of competitiveness will con­ return on stocks since 1926 has been question is asked so frequently and tinue in certain major manufacturing 10.4 percent while the average annual impacts the first question so heavily areas. return for long-term U.S. Government sheds important perspective on long­ Trade barriers by foreign countries bonds and Treasury bills has been 4.8 term investing. (Japan and the European Common percent and 3.7 percent, respectively. One standard principle of long-term Market) will significantly restrict our Statisti cians typically describe the strategy is n°ot to change basic invest­ ex port growth. amount of risk in an investment by its ment focus because of short-term • Lower birth rates and environmental standard deviation, which measures results. If an individual rationally concerns will lead to slower growth variability around the average return. chooses an initial strategy of balanci ng rates. Notice that the standard deviation for fixed-income securities and stocks, it • Someday, uncontrolled budget defi cits stocks is much higher than for bonds or would be a major strategic reversal to will also have to be tackled. This bills; consequently, the promise of switch into all stocks just because of a would diminish the stimulus we've higher returns demands higher levels short-term wide difference in perfor­ come to expect from an irresponsible of risk. Thus, if yo u have a long time mance. This can be especially risky if fi scal policy. horizon, perhaps weighting a portfolio the investor is now significantly olde1; a • The decreasing availability of cheap more heavily in stocks seems reason­ time of life when greater ri sk taking is natural resources will slow down our able as th e riskiness is less onerous in not in order. If a major fall in the stock growth rates. a long time frame. However, if one is market were to occur in the near future, close to retirement, a long-term average one may not have the time to wait for Certainly some of these considera­ is less attractive, and one can easily the recovery. tions suggest a lower rate of growth for argue for taking a less ri sky approach Too often one is persuaded to change our economy as compared to the past. and unde1weighting the more ri sky strategies, jumping on what would have But although there seems to be ample stocks. Many people would rather sleep been better for last year and thus reason for a slow-growth economy pre­ well than eat well. always being one step behind. This diction, there cannot be any certainty Pertaining to the question of what often is the response of inexperienced given the mi x of data. stocks to buy, a broad-based fund is investors, both in selling out aft er a If the economy grows more slowly, generally acceptable. Howeve1; there major slide when stocks are more fairly inflation should also be lower. Then a has been so much indexing in stock valued and in switching into stocks real rate of return from investing could funds (trying merely to capture the after they see a market rise and every­ acceptably start from a lowei· level of average stock market gai n) that their one is optimistic. If they tend to gross return-a realized rate of return perform ance is sometimes surpassed by respond to these kinds of pressures of 12 percent with 8 percent inflation is more focused funds. One of the chal­ and feel the need always to run to no better than an 8 percent return with lenges of the future may not be merely catch up, their actions usually override 4 percent inflation. Possibly too many to decide to invest in a stock index any sensible long-term strategy. As a people suppose that investment strate­ fund; rather, it may be to diversify result, they suffer for their short-term gies should vary significantly, given investments into a selected variety of guessing. different forecasts of growth. Since both focused stock funds, such as small­ Although the stock market has been fixed-interest security yields and stock capitalizati on compani es or funds with performing well, especially given the market returns will quickly reflect only international companies. weak economy of the last two to three changing economic growth rates at any years, it may be a misleading indicato1: given time, it is difficult to argue for Changing Investment Strategies As long as interest rates fall and the significant long-term investm ent strat­ The second question, determining an stock market maintains a slight upward egy changes. It probably makes the investment strategy, may be the more trend, money will flow from short-term most sense lo remember the basics, immediate concern. The fact that this CDs and money/cash accounts into the take a little less risk, and hedge by diversifying between both fixed-income EXHIBIT 1: Average Annualized Returns on U.S. Stocks, Bonds, and Bills and stock portfolios. 1926- 1991 Portfolio Returns Risk Measure Standard Concerning portfolio returns, yo u mi ght Investments Average Compound Return Deviation want to be more heavily weighted in the stock market if your time horizon is for Common Stocks 10.4% 20.8% the longer term, because the more ri sky Long-Term Government 4.8 8.6 stock market has shown a greater long­ Bonds term return th an fixed-income portfo­ lios. Data on long-run average returns U.S. Treasury Bills 3.7 3.4 for stocks, bonds, and cash equivalents since 1926 illustrates this point. As Source: Stocks, Bonds, Bills and Inflation: 1992 Yearbook. Ibbotson Associates, Chicago. shown in Exhibit 1, the average annual

8 EXCHANGE stock market. It represents the only EXHIBIT 2 perceived alternative to th e very low obtainable yields on cash holding. Average Stock Returns Relative To Elections However, one might consider (even 1964-1992 if interest rates fall again before elec­ Percent Return tion) what will happen wh en interest 8 rates start to ri se and the stock market takes a dip. Would people then fl ee 6 th e stock market? Would many of the particularly weak hands (inexperi­ enced stock market participants) 4 reverse th eir confidences and begin to feel that even a lower certain yield is 2 better than the uncertainty of a falling stock market? If so, this would cause a 0 reversal, with funds flowing from sto cks to bonds. -2 Many of the traditional market valua­ tion approaches now show a generally optimisti c investor assessment of earn­ -4 ings, sales growth , book va lue, and eco­ nomi c growth. Since th e market has Months Relative to Presidential Election recently reached an all time-high [as this article is being written in early June], one might conclude that most receive extra fo cus. An investor ex ploit­ (b) switching out of stocks after a major investors are bullish. If this stock mar­ ing this analys is may want to over­ fall in order to prevent further losses is ket hi gh is accompanied by a strong weight th e portfolio in stocks prior to a undoubtedly a destructive sho11-term growth of sales and earnings, then no presidential election and underweight it approach. Economic forecasting is diffi­ concern should dominate. However, if in stock soon after. cult, and it may not predict the stock th e hi gh is only a response to a recog­ market's performance. To get ahead of nized turnaround from th e recession Conclusion the crowd rather th an follow it, perh aps bottom, perhaps the market is merely The past has taught us that stocks­ even a contrarian strategy may make refl ecting anticipatory optimism and a over the long term-have returned the most investing sense. How evet~ lack of any unusually attractive invest­ better results than fixed -income since so many investors even try to ment alternati ve. securities, but with accompanying refl ect this in th eir investment deci­ Sometimes individuals change their higher risk. Investors' tolerance for sions, it is difficult to know what th e portfolio mix because their expectations risk depends to a great extent on their real contrarian view is. Even California change concerning return potenti al. personality and investm ent horizon. real estate has its cycles and demon­ For example, investors may noti ce Some people are more willing to bear strates that no investm ent is perma­ stocks tend to perform better during risk than others. The length of the nently preferred. months preceding presidential elections investment horizon, often influenced Therefore, a strategy showing aware­ than after th e elections. Exhibit 2 by age, also influences the investor's ness of risk and th e importance of diver­ presents th e average return for th e desire to bear ri sk. However, the per­ sifi cation should be a good strategy for months before and after the presidential sonality, disposition, and circum­ the future, whether a slow- or a fast­ elections from September 1962 to May stances of the individual investor growth era lies ahead. Be cautious not to 1992. The zero point represents usually do not change very quickly. make short-term major changes in strat­ November of presidential-election Consequently, the composition of an egy based on short-term results. Most of years. investor's portfolio based solely on the time the unexciting yet sound, long­ Notice that returns tend to be higher these factors wou ld not be expected to term strategy is actuall y the most prof­ in the 25 months preceding the election change very often. The appropriate mix itable, and it surely gives the greatest than in the 22 months following the of stocks, bonds, cash, and other peace of mind even though the titillation election (the large average negative investment alternatives could be put in of our greed and gambling instincts is return 13 months before the election is place and held for some period of time seldom satisfied. Knee-jerk reactions to heavily affected by the market crash in wi thout a need to change, regardless of sati sfy the latter are speculation, not October 1987). This suggests that per­ changes in economic growth. investing. Since it is very difficult to haps an administration can take actions It is also important to remember that time brilliant moves in sho11-term trad­ to make the econom y look good before (a) switching into stocks after they have ing strategies, a sound investing strategy an election; but shortly thereafter real­ had a good move in order to participate should probably change very little, ity sets in and economic problems profitably in that move and then whatever the economic outlook. ~

EXCHANGE 9 ISSP Support For Leadership Training

Janet M. Howard Department of Management Communication

H E Marriott School's unique innuence on th ese students, th eir fami­ " Our positions in th e Church while International Student Sponsor lies, their businesses, and the Church. at BYU have give n us new insights in T Program (ISSP) was initiated in While at BYU, th ese students th e areas ofleadership, Church organi­ th e mid 1980s because of th e need for expressed in letters to th e donors th eir zation, and interpersonal relationships. leadership in third-world nations, as appreciation for and th eir perceptions Your sacrifice will not be forgotten but perceived by returning mi ssion presi­ of th e value of th e program. For exam­ will extend far beyond me and my fam­ dents. Members of th e MSM Nati onal ple, Carlos Zepeda, an April 1992 ily. We plan in th e future to follow your Advisory Council and alumni wh o have graduate from Mexico, wrote " My per­ example in helping students who are in worked and visited in th ese developing spective of the bu siness world has been similar situati ons." nati ons also saw a great need for lead­ expanded. This expanded outlook has After a one-year Otis Elevator train­ ership among the people. Therefore, resulted in many pros pecti ve full-time ing program in th e United States and th ey have wholeheartedly become opportunities. In addition, being able to Europe, Milton is now working for Otis donors lo th e ISSP and support its interact with people in th e BYU com­ in Braz il. Without th e ISSP, Milton obj ectives: (1) to provide graduate munity and in th e Church has afforded could not have come to BYU to pursue management edu cation and vari ed me and my family an education within an MBA degree. Church ex peri ence for LDS students itself. Our li ves will forever be enriched Another parti cipant, Juan Carlos from selected countries outside th e because of this opportunity th at has Castillo from Chile, made th e following United States and Canada; and (2) to been given us through generous donors comments to program donors: "Because strength en those nations and th e of this program." Carlos' undergraduate of what we have ex peri enced and Church as those students return to take chemi cal engineering degree from learned here at BYU, when we return to leadership roles in th eir profess ions, Uni ve rsidad Nacional Autonoma de Chile we will be able to broaden other th eir communities, and th e Church. Mexico and hi s MBA degree brought people's minds by sharing our two -year To be selected as a participant in this him a rewarding positi on with Otis ex peri ences in orth Ameri ca. We are program, the student must- Elevator in Mex ico City. committed to extending your sacrifice Another outstanding ISSP graduate in our behalf lo oth ers in our country." • be married to a person native to th e (April 1991) was Milton Camargo from Since returning to Chile to work as a student's country. Niteroi , Brazil. Before coming to the fin ancial analyst for Empresa Nacional • have completed a successful LDS MBA program, he filled an LDS mission De Mineri a, Juan has been called lo mi ssion or had significant Church in Portugal and th en graduated in civil serve as second counselor in th e Quinta ex peri ence. engineering from th e presti gious orm al LDS Stake Presidency. His wife • have completed an undergraduate lnstituto Militar De Engenilari a. After is serving as ward Primary president. degree, preferably from th e nati ve graduation, he worked for nine years in In addition, he is teaching a fin ance country. Brazil as a design enginee1: He made th e course at Uni versidad de Chile, one of • be committed to returning to th e following comments in a letter of appre­ th e best uni ve rsiti es in Chile. home country upon graduati on. ciation to program donors: "I want you Anoth er graduate from Chile, • agree lo repay th ese grants (l oans) to know that th e knowledge and skills Jorge Zeballos, is working for Minera aft er graduation. learned and developed in the MBA pro­ Escondida Ltda.- BHP Minerals as Since th e ISSP's inception, 14 stu­ gram will be used to serve and build th e an assistant to th e vice president of dents from Argentina, Brazil, Chile, country of Braz il , th e Church within operati ons. He has been called to be England , Mexico, and Venezuela have Brazil, and the community in wh ich we bi shop of th e Antofagasata 2nd Ward , received grants and graduated from one will reside. My wife and three children Antofagasta Chile Stake. In additi on, of th e MSM graduate programs. have benefited from li ving in th e United he was asked lo leach advanced Because of the commitment and ge n­ States. They have learned a new lan­ fin ance to fo urth-year business students erosity of MSM alumni and oth er sup­ guage, a different culture, and have al a local university-Uni versidad po rters of this program, th e two -year gained knowledge and skills that will Catoli ca del Norte (Cath olic Uni versity ex peri ence will produce a pos iti ve help them to face future challenges." of th e North ).

JO EX C HAN G E Because donors gave th ese students members in the following ways: pines, one from Chile, two from th e opportunity to obtain a graduate (1) Teaching Church members how to Argentina, one from Colombia, one degree, th e students now hold responsi­ start and operate their own successful from Brazil, one from Singapore, and ble positions within th eir business com­ businesses; (2) developing support sys­ one from mainland China. As the needs munities of their countries. They are tems among the members so they can and networking increase in Third-World serving as managers and consultants help and assist each other in raising nations;th e ISSP will be able to ex tend for such companies as Otis Elevato1; their living standards; and (3) assisting its helping hand to many more qualified Ernst & Young Consulting, Proctor & returned missionaries, who were illiter­ and eligible yo ung men and wom en Gamble, Exxon, WordPerfect, G. E. ate prior to their missions, in getting in those nations. But we need more Medical Systems, and McKinsey & Co, a good hi gh school education. In addi­ participating alumni and fri end s to Inc. Furthe1; along with other BYU tion, they are providing li ving accom­ achieve ISSP goals. alumni, ISSP graduates have organized modations for these yo ung men and Will you take a few moments to con­ a strong Management Society chapter women, hiring them ei ther as full-time sider th e positive impact yo u can have in Brazil. employees or as interns, and helping by being a donor to the ISSP. For addi­ Warner Woodworth, an MSM fac ulty those qualified in obtaining hi gher­ tional information about the Interna­ member who went to Brazil in th e fall education degrees." tional Student Sponsor Program and how of 1991, noted that "Management In addition to th e graduates men­ you can participate, contact Dr. Janet Society members are using their tioned, current students include two Howard, ISSP Coordinato1; 587 TNRB, finan ces, knowledge, and skills to help from England, one from th e Philip- Brigham Young University, Provo, UT !ID

The BYU Army ROTC Leadership Excellence Program: Developing the Warrior Spirit by Jeff Broadhead focus on "empowering cadets to obtain A vital part of leadership excellence their professional and spiritual poten­ is understanding how to be an excellent HE challenge for Lt. Col. Paul M. ti al through application of leadership follower. Col. Searle teaches the cadets TSearle, chair of the Military Science excellence principles." th at the essence of being a good fol­ Department, a unit of the Marriott Col. Searle defines leadership as lower is " to ensure that the one who is School of Management, has been to fit "the process of influencing others to leading is successful." the Arm y ROTC program to the unique­ accomplish th e mi ssion by providing In approaching military leadership ness of BYU as a religious institution. purpose, direction, and motivation." from the unique BYU perspective, the "The mission of Brigham Young As a framework for leadership devel­ cadets have selected General Mormon University-founded, supported, and opment, the ROTC's Leadership as a role model. When presenting th e guided by The Church of Jesus Christ Excellence Program aims to develop program to military leaders not of Latter-day Saints-is to assist th e nine leadership competencies: commu­ acquainted with th e LOS faith, Col. individual in the quest for perfection nication, supervision , teaching and Searle explains that General Mormon and eternal life. That assistance should counseling, team development, techni­ li ved in Ameri ca between 311 and 385 provide a period of intensive learning cal/tactical proficiency, decision AD and was a great warrior and the in a stimulating setting where a com­ making, planning, management tech­ central religious fi gure in his nation­ mitment to excellence is expected and nology, and professional ethi cs. BYU th e man for whom the Book of Mormon full realization of human potential is cadets work for a tenth competency is named. pursued." 1 that they call "sound and perfect Cadets study about General The mission of the United States understanding." Mormon's life and hi s contribution to Army ROTC Cadet Command is to pro­ Cadets learn three di stinctive leader­ his people, not only as a warrior and a duce commissioned officers in th e qual­ ship styles: directing, participating, and general, but also as a prophet, a ity, quantity, and academic disciplines delegating. Most BYU cadets, espe­ schola1; a statesman, an author, a necessary to meet army requirements. cially those who have served LOS mis­ teache1; and a fathe1: Mormon is an These officers must be action-oriented, sions, are very ex perienced in the ideal role model because he was fear­ tacti cally and technically competent, participating and delegating styles, but less, forthright, humble, full of integrity, and possess a "warrior spirit." 2 To meet not with the directing style of leader­ and he gave his life for his country. For these objectives, Cadet Command has ship. Cadets learn how and when each the cadets, he is th e embodiment of th e implemented the ROTC Leadership style is appropriate and practice apply­ warrior spirit. Excellence Program. ing each in field exercises, weekly labs, The Army ROTC Cadet Command Col. Searle has adapted the ranger activities, and basic and has been overwhelmingly impressed Leadership Excellence Program to advanced camps. continued on page 29

EXCHA N GE Jj sents approximately 4.5 percent of the the home of the MSM, th e N. Eldon ... From the Dean MSM student bod y. Tanner Building. This project received co ntinued from inside front cover External support takes many other tremendous support from th e National forms. Some of the supporters provide Adviso1y Council and from alumni and students an opportunity to receive a help through donations of money or friends, who recogni zed the school's need professional degree. gifts in-kind; others give time to share for expanded teaching facilities, com­ Other supporters have helped by ex pertise. Businesses and individuals puter labs, and faculty space. The Tanner endowing scholarships to assist provide internships and recruitment Building will mark its 10th year of occu­ students with the costs inherent in opportunities for graduating students. pancy thi s fall. It was and is a great attending a management program. Some provide professional development morale boost to th e MSM and its pro­ These scholarships allow us to recog­ opportunities for faculty. grams, and it has been used by many nize outstanding academic wo rk , to Major financi al gifts are funnelled other business schools as a mod el of what recruit promising students to our through the Endowed Scholars a management school building should be. various programs, and to provide much­ Program-a program that provides fac­ As dean, I appreciate all those needed financial support for worthy ulty support through chairs and profes­ individuals and organizations th at are candidates. Each year, I recognize with sorships, scholarships and assistant­ committed to the Marriott School of gratitude the great source of strength ships for students, and research funds Management, its students, and faculty. that comes with the knowledge that that allow faculty and students to pur­ Without their loyalty, effort, and contri­ scholarship funds are available for sue topi cs that are important to today's butions, the MSM would not have made MSM students. A number of NAC mem­ managers. All gifts to the MSM are part th e progress it has. I look forw ard to bers, friends, alumni, and corporations of the Leadership Alliance, an umbrella many years of continuing support from provide endowments or annual-gift organization that gives stru cture and "our external friends." scholarships. Approx imately 190 to 200 guidance to the fund-raising efforts of students are helped each year through the various groups within the MSM . K. Fred Skousen these scholarship funds. This repre- A final example of external suppo1t is Dean, Marriott School of Management

Foreign-Language Competency Means Competitive Advantage

by Jeff Broadhead Center said that " many multinational Brigham Young Un ivers ity is well firm s are looking for managers who can known for the language skills of its H E demand for managers with communicate with Japanese executives students and alumn i. Ron Burke from Tforeign-language ability is in creas­ and engineers and who understand the th e MSM Career Services Office said ing. In an article in the New York American way of doing business." Firms that " many of the 17 companies Times, June 11, 1991, Richard W. that have recruited Japanese speakers expected to make first-time recruiting Kean, executive vice president of include Calsonic International, Seiko, visits to campus this year are coming Dunhill Personnel Systems, Inc., said Mitsubishi Bank, Sanyo, Honda, the precisely because of the language that a person who could "write his own Bunsha Group, Mitsui, Ae tna Life, and capabilities of MSM graduates." ticket" is an MBA who is flu ent in the Bank of Tokyo. Japanese is not the only language Japanese and who has spent a year in in demand. The Latin American Japan. The article reported that three divisions of Monsanto, Black & Decker, MBAs from the Marriott School of and Quaker Oats came to campus for Management were recently hired by a the first time last year looking for Japanese manufacturing firm because Spanish speakers. Continental Grain of their Japanese language flu ency. Co., Price Waterhouse, Hewlett­ The article also noted that the Marriott Packard, and Schmidt Scientifi c of School of Management's rate of foreign­ Taiwan have recruited students with language flu ency among its MBA stu­ skills in Chinese and other Asian dents is about 80 percent, due largely languages. Gitano and Medtronic look to the experience many students gained for competency in all languages. on foreign missions for The Church of In addition to hosting companies Jesus Christ of'Latter-day Saints. who recruit MBAs, the Career In the last two to three years Toshia Kimeda is executive director Services Office receives many requests Japanese firms have shown a growing and general manager of operations for for alumni with language skills. interest in BYU students who are flu ent Morgan Stanley-Tokyo. After his recent Interested alumni can contact Career in Japanese and who have backgrounds recruiting visit, he wrote to BYU's Services Director Ron Burke at in engineering, computer science, and Placement Office commenting on the 4 70 Tanner Building, Provo, UT 84602, business. Jay Irvine of BYU's Placement high calibre of our graduates. (801) 378-4859. ~

12 E X C H A N G E UPDATE

Senator Bill Owens on th e of th e LDS Church by supex. Can-meetings are changes in the former Soviet Elder Dav id B. Haight of its off-site gath erings where Union; an address by Quorum of the Twelve employees may freely speak chapter President David Apostles; stress counseling their minds without fear of Allen entitled· "Who Is Israel by Beth Dansie, a counselor retribution. This increases in the Context of Latter-day and stress management innovation as employees Science, the Kingdom of consultant; and an analysis become more willing to be God, and Political of th e economic impact of open with constructive criti­ MSM Introduces Scenarios"; and a seminar current events by author cism of company operations. Official Mark by author and management and financial advisor Supex is what M1: Kim consultant Stephen R. Howard Ruff. described as " brain engage­ Brigham Young Uni versity's Co vey. ment maximization" : th e administration recently ability to overcome obstacles approved an official mark Bay Area Chapters MSM Faculty and to develop breakthrough for the Marriott School of The San Francisco, East Students Hear Korean technologies. Management. In designing Bay, and South Bay chapters Executive Sunkyong Industries is a the mark , the Marriott of the Management Society subsidiary of th e Sunkyong School was looking for are dedicated to keeping On March 27 Hyung-Chul Group, one of Korea's largest something that would be their members informed on a Kim , manager of corporate conglomerates. The company hi ghly identifiable and could broad array of topics, includ­ strategic planning at is involved in a variety of be used on all MSM ing business, religion, poli­ Sunkyong Industries, spoke industries, including petro­ publications. ti cs, and personal health. to MSM students and faculty chemi cals, textiles, and The roundness of th e One way th ey accomplish on "Integrating Corporate pharmaceuticals. Since design is patterned after this goal is through the peri­ Strategy and Culture Change 1989 th e company has BYU's official seal. The odic Bay Area lecture series. for the Year 2000." The worked extensively towards inner image depicts the sun Last October J. Bonner lecture was an overview of harmonizing strategic plan­ rising over th e N. Eldon Ritchi e, BYU professor of recent developments in th e ning and company culture. Tanner Building-home of organizational behavio1; company's strategy and the MSM. The Tanner Build­ spoke to members of the organization. ing, whose stone walls repre­ Management Society as part Mi: Kim described OB Professor Meek sent strength and stability, of the School of Sunkyong Industries' Selected by Blue Key as has long been a symbol of Management's Dean's integration of the company's Professor of the Month th e Marriott School. The Seminar. Dr. Ritchie related new strategic plan with a image of the ri sing sun calls his ex periences in working concurrent and cooperati ve In April, professor to mind th e dawning of a with th e Bedouin tribes of change in corporate culture. Christopher B. Meek of new day and is symbolic of the Middle East in 1990. He He ex plained the concept of th e Department of light and knowledge. explained th e complications increasing interaction Organizational Behav ior and difficulties he saw as he between th e dynamic and was named professor of th e tri ed to teach them princi­ static factors in the month by Blue Key, a Management Society ples of capitalism and organization and th e princi­ campus service and honor Chapter News organization. He also spoke ple of coordination manage­ society. on cultural biases and being ment-different functional D1: Meek spoke at th e Denver Chapter open to change. groups reporting to the same award presentation on This past year th e Denver The Bay Area chapters manage1: "Education for Development Chapter of the Manage­ regularly bring in speakers Mr: Kim also described and Economic Democracy." ment Society has held an to uplift and educate their some important concepts He outlined the problems exciting seri es of lectures members. Speaking engage­ that Sunkyong has imple­ with unequal economi c and seminars. ments planned for this com­ mented to increase employee participation through limited These meetings have ing year include an address participation and innovati on, property ownership and th e included a luncheon with on the worldwide acti vities including can-meetings and need to move away from

E X C H A N G E 13 "wage slavery " to students visit with company doctoral work in the emerg­ Taylo1; former School of self-employment. "The employees and learn about ing field of finance, earning a Management dean, and trend," he said,"needs to its culture. PhD from Cornell in 1976. others. Dean Taylor was move towards people govern­ Board members also He taught at Cornell for responsible for many ing their own affairs and counseled women who are changes during his tenure, reaping the rewards or pursuing business careers including forming the NAC, consequences of those and advised them to focus on the MBA program, and the decisions. One way to move their talents rather than wor­ Department of Organiza­ towards economic self rying about gender. Suzanne tional Behavio1: government is through coop­ Allford, vice president at Although the book's goal erative systems in which all Wal-Mart, advised "If a is "to provide the school and employees have partial woman wants to succeed she its patrons a history of NAC ownership in the company should be willing to accept in partnership with th e for which they work." untraditional roies." Marriott School of Participating executives, Management," it also gives representing several compa­ an extensive history of th e Executive Retailing Panel nies including Fred Meyer, school itself, starting with its Advises MSM Students Kmart, Jewel Company, Inc., Ned Hill genesis as the Commercial Nordstrom, and J.C. Penney, College of the Brigham Executives from some of the were all members of the one year before accepting a Young Academy in 1891. country's top retailing Skaggs lnstitute's National teaching position at Indiana It also hi ghlights many chains spoke on the future of Advisory Board. University. He remained notable events, such as business and answered stu­ there 10 years before creation of the Executive dents' questions in a recent accepting BYU's Joel C. Lecture Series and th e MBA MSM panel discussion. Ned Hill Receives 1992 Peterson Professorship of program and the school's The panelists, who were Outstanding Faculty Business Administration in recent emphasis on ethi cs on campus attending Skaggs Award 1987. and international issues. Institute board meetings on As chair of the committee Anyone interested in February 3, agreed that Ned C. Hill, professor of to examine the MBA pro­ knowing more about the although the poor economy business administration, was gram in 1989, Hill played an book, or obtaining a copy, and recent corporate down­ honored February 26, 1992, integral part in designing the may call the dean's offi ce at sizing has limited student with the Marriott School of revised program introduced (801) 378-4121. recruiting, there are still Management Outstanding in 1990. He has been twi ce good employment opportuni­ Faculty Award. The award honored as MBA Professor of ti es for ambitious students. was established in 1972 to the Year and has authored Professor Hubbard Many students asked the honor faculty members who more than 70 professional Retires panel for advice on being have distinguished th em­ publications and three competitive in the job selves by outstanding books. He is editor of EDI Dr. Dee Hubbard, professor search. Don R. Clarke, CEO professional contributions FOR UM: The Journal of of accounting, has retired of Caldor, stressed persis­ while at BYU. Electronic Data Interchange this year after 25 years of tence, saying, "If you stop at Professors are selected and is a frequent speaker at teaching at BYU. closed doors and walk according to excellence (in national and international He taught for a year at around blocks you will be the past three to fiv e years) meetings on the subjects of BYU after receiving his just like everyone else." in professional service, pub­ EDI, cash management, MBA from the University of Joseph A. Tomaselli, senior lication, teaching, research and banking. Utah in 1959. He then vice president of merchan­ and/or administration. worked in the retail and con­ disi ng for Mervyn's, added Hill teaches finance pri­ structi on industries before that " Recruiters are looking marily in the MBA program. Weldon Taylor Completes ente1ing the University of for graduates who have com­ A Utah native, he received a History of NAC Washington PhD program in mon sense, communication bachelor's degree in chem­ accounting, which he com­ skills, a sense of teamwork, istry from the University of The Marriott School of pleted in 1967. busi ness sense, and are will­ Utah, where he worked as a Management has recently Since rejoining the BYU ing to take risks." research assistant to published a history of its faculty, Dr. Hubbard has John McMillin, co-chair­ Dr. Henry Eyring. He th en National Advisory Council been very involved in man of Nordstrom, Inc., attended Cornell University, and th e NAC's contribution servi ce to the university. relayed th e importance of earning a master's degree in to the school's growth. The He served as director of the familiarizing oneself with a chemistry shortly before book-Pragmatics of BYU College of Business company before the inter­ serving in the Army. After Values-is the result of years Student Advisement Center view, suggesting that his di scharge, he began of work by author Weldon J. for five years, as faculty

14 EX C HAN G E curriculum and course Promotional Videos In order to achieve Hanson remains as associate coordinator of introductory Released in Ger man accreditati on from AACSB, director. accounting courses for three th e MSM spent over 18 McKinnon, a professor of years, and as faculty advisor MSM promotional videos months responding to business management, has to the Gamma Alpha chapter were recently translated into accreditation documents th at been a member of the BYU of Beta Alpha Psi, 1979- German and were shown to addressed such issues as faculty since 1969. His 1981. He served as coordi- executives from various class offerings, fa culty ere- academic specialty is mar- nator of th e management professional organizations in denti als and education keting th eory and manage- accounting stem of the Europe. levels, class loads, and ment. He has been serving School of Accountancy from In addition to the two student preparation. as president of the Western 1981 to 1988, and most tapes currently ava ilable, a Marketing Educators recently as associate third will spotlight th e MSM Association, a group that director of the School of Executive MBA Program and Grant Lasson awarded promotes marketing educa- Accountancy from 1984 to will include footage from the th e Stoddard P rize in tion at th e university level. 1992. In 1980 he received group's recent tour of Finan ce After receiving a BS and th e School of Accountancy Switzerland, Germany, and an MBA from the University Di stingui shed Service Czechoslovakia. The 1992 George E. of Utah, McKinnon earned Award. Those interested in using Stoddard Prize in Finance hi s PhD at th e University of Dr. Hubbard also served either the tape hi ghlighting was awarded to Grant M. Texas at Austin in 1968. A with the Salt Lake chapter of th e entire MatTiott School of Lasson on April 1, 1992. two-time recipient of the th e Institute of Management Management or the video The Stoddard Prize is a Accounting in various specifically featuring the financial award given to capaciti es, including chapter MBA program may request a BYU's outstanding MBA president. In addition, he copy from Annette Jasperson graduate with an emphasis was an area councilor on th e at (801 ) 378-3500. in finance. The award is National Co uncil of Beta made possible by a Alpha Psi, 1981-1983. $15,000 endowment in Mr. He worked as a fa culty MSM Programs Earn Stoddard's name from W. P. resident with Arthur Reacc1·editation from Carey & Company, a Andersen & Co. in Seattle AACSB national investment banking and as a special project firm. Award selection is by a consultant on health care The Marriott School of committee of senior fin ance costs for Kennecott Copper Management achi eved reac- faculty members. Corporation. He was an edu- creditation of its graduate Former wi nners include Gary F. McKinnon cati onal consultant to the and undergraduate manage- Darren Wilcox, 1987; IBM Corporation in the U.S. ment degree programs from Steven Lam bert, 1988; Exxon Outstanding Teaching and Belgium, and to the th e Accreditation Council of Nick Loeb, 1989; Dennis Awa rd , an honor bestowed Deseret Press. His most th e American Assembly of Guerretti , 1990; and by th e School of Manage- recent faculty development Collegiate Schools of Dav id Bryce, 1991. ment, McKinnon has also leave was with the Marriott Business (AACSB). The After graduating this been named Professor of th e Corporation as a special bachelor's degree in past April, Grant Lasson Month by BYU's Manage- proj ects consultant. accounting and master of accepted a consulting posi- ment Society and Blue Key Dee is maJTi ed to the accountancy degree received tion in San Francisco with Honor Society. former Patricia Hurren. They separate accreditation from APM, a growing manage- have three sons, a daughte1; th e same organization. ment consulting firm that and three grandchildren. The AACSB offers accred- services the health care Their daughte1; an attorney itati on to only 268 of the industry. in Washington, D.C ., will be nati on's approximately 1,200 MSMAlumni spending this year as a colleges and universities Directory Available visiting instructor at the offering undergraduate MBA Program Names BYU Law School. business degrees. Of the New Director After retirement, Dr. more than 600 master's Includes information Hubbard's plans include a programs across the country, BYU's Master of Business on 20,000+ alumni service mission with the LOS 268 are AACSB accredited. Ad ministration program was Church Auditing BYU's accounting program is placed under new leadership for $30.95. To order call Department. Then, health one of only 97 schools that beginning May 1, 1992. (801) 378-4800 permitting, he and his wife have received separate Dt: Gary F. McKinnon or (801) 378-5083. hope to serve a full-time accreditation at various replaces Darral G. Clarke as m1 ss10n. degree levels. directo1; while Kaye T.

E X C H A N G E 15 Administrntive business communicati on, Uni versity and a PhD from mi ssion, whi ch is not only lo Changes-Department manageri al communicati on, Pennsylvania State prepare BYU students for a Chairs Appointed and self-management. He Uni versity. reta iling caree1; but a lso to has been a professor at BYU improve faculty interest in Alan Wilkins was named for 13 years. reta iling and lo facilitate and chair of the Organizational Assistant dean of the Mentor Program Matches conduct research for retail Behavior Department. Marriott School from 1981 Students with companies. Wilkins, BYU's Wheatley to 1983, Timm also has nine Professionals The changes fo cus on the Professor for Integrity in years of industrial experi­ program's number one Free Enterprise, is one of the ence including employment Students who have ex peri­ strength, whi ch, Director nation's leading authorities with Bell South and Xerox. enced difficulty making Heikki Rinne says," . .. li es He also served as president bu siness contacts in their in [the institute's] contact of a training company. major field or who just need with the retail community." Timm holds a bachelor's advi ce from an experienced According to Dr. Rinne, degree in communications profess ional can now get that these contacts need to be from the State Uni ve rsity of assistance from a mentor better " utilized . .. to New York at Buffalo, a assigned through the improve the overall educa­ master's degree in organiza­ Marriott School of Manage­ ti on for students and oppor­ tional communications ment's mentor program. The tunities for faculty." Changes from Ohio Uni versity, and program facilitates relation­ in institute acti viti es center a PhD in organi zationa l ships between MSM students on im proving and strength­ communications from and seasoned professionals ening the contact between Florida State. wh o can offer career­ reta il executives and MSM Scott Smith was reap­ preparation advice. students and faculty. Alan Wilkins pointed to another term as The mentors are recruited Student interaction with director of the Institute of from MSM organizations the "real world " of retail on organizational culture Business Management, a including the National management has always and culture change and has Advisory Council, Alumni been a Skaggs Institute consulted with many Fortune Board, and Management priority. In the past, most 500 compani es. Society chapters. In most attention has been placed on The author of a book on cases mentors will li ve in student retailing internships culture change, Wilkins has areas served by a chapter of and the Retail Fortnight, a also written several articles the BY U Management two -week acti vity that for management audiences. Society. includes company recruit­ He received a bachelor's The Management Society ing, executive lectures, and degree and MBA from BYU National Steering Commit­ class di scussions. and earned his PhD from tee coordinates the mentor While both of these activi­ Stanford University. program. The 50 Manage­ ti es will remain a major part The Management Commu­ ment Society chapters of students' retailing ex peri­ ni cations Department is now organi zed across the country ence, new acti vities are under the direction of Paul Scott Smith provide a natural geographi­ being introduced to improve Timm. He is author of 17 cal base for program opera­ student participation. For books and dozens of articles position he has held since tions. example, workshops spon­ on customer communication, 1989. A professor of mark et­ Student participants must sored by the Retail human relations, supervision, ing at BYU since 1981, have completed their sopho­ Management Association Smith has also taught at the more year and be a member will fo cus on time manage­ Uni versity of Oregon. He of the Management Society ment and personal develop­ specializes in survey Campus Chapter. ment to ease the transiti on research in three areas: into the workplace. In addi­ research methodology, ti on, a new program­ Skaggs Institute Changes marketing management Retailing Curriculum applicati ons, and computer The Skaggs Institute of Review- will be introduced. modeling. Retail Management is This involves periodic A graduate of BYU with currently updating acti vities curriculum review by insti­ a bachelor's degree in and curriculum to build its tute graduates who are cur­ marketing, stati sti cs, innovati ve and highly rently working in the retail computer science, and successful program. industry, evaluating the pro­ economi cs, Smith earned The program changes will gram in li ght of current Paul Timm an MBA from Mi chi gan State better fulfill the institute's continued on page 25

16 EX C H AN G E 1991 ·1992 Y EAR IN R EVIEW

The J. Willard and Alice S. Marriott ~ choo l of Management / Brigham Young University

October 1, 1992

To MSM alumni and friends: At th e end of each academi c year, I have the opportunity to review the past year; to evaluate various activities, to take note ' of areas needing more effort, and to hi ghlight successes. After reviewing the 1991-92 school year; the progress report looks good indeed. MSM students continue to show strengths and skills essential for management degrees and successful careers. Faculty members are productive scholars and effective teachers. External support groups are actively involved in projects that ~ stimulate academic growth and development. , The 1992 "Year in Review" highlights this latter group and gives recognition to alumni, fri ends, and corporate supporters, collectively and individually. They play a major role in the success of the Marriott School of Management._From these external groups, th e school receives much-needed financial support, professional counseling, student internship opportunities, research opportunities for faculty and student teams, faculty profes­ sional development support, mentoring for students, and career opportunities through job reci:uitment. I share some of the details regarding th ese important external relationships in this "Year in Review."

K. Fred Skousen Dean National-- Advisory Council publish research on man'iigement & Co., explained his participation with topics that is useful in acad~ mic and NAC and the Andersen Professorship in Since its organization in 1966, under management environments; and lo this way: the leadership of Dean Weldon J. Taylor, foster an attitude of responsibility and I am personally a strong supporter the N-iltio nal Advisory Council has been" service toward society. Dean Skousen of the M:;miott School of Manage­ an external support group vital to the has· stated ment, as ·is Arthui::_ Andersen, School of Management's growth and · The men and women who have because the BYU students we have development. Initially, NAC aimed'to served on th e National Advisory hired are able to make an immediate "bridge the gap between town and , - I Council throughout the years have impact on o ur practice. I am also gown." Members wanted to bring the been and are major supporters of ex tremely impressed with the extra­ academic and th e real worlds together the value-laden philosophy that is-, ordinary accounting faculty. In for the betterment of both. the foundation for Marriott Sch9ol additio~ to being excellent teachers, Early on , NAC developed the programs. They bring rhanagemerrt they are personally involved in all Business-Educatioq Alliance. { hen in expertise into the developpient of aspects· of a student's entire educa­ the mid-seventi es, .!J nder DeanMerrill 1 curriculum, and their ideas are tional experience. J. Bateman, council members recog­ ) - refl ected in th e development of the nized the_need for larger school facili­ 1 NAC has raised funds to endow its school's strategic planning. Their ti es and provided leadership, as well National Advisory Council Professor'- ~co ntinuin g financial support is as financial support, for the project. , ship, aQd'individual NAC me_mbers , essential to th e school's academi c " Un der Dean William G. Dyer, NAC' was ~ have endowed professorships that are well-being. ·'involved in the building of the Tanner major assets to the ,school and to faculty Building. It ~as the first academic ' Representative ofNAC's involv~­ academic development. Steve V. White, building on campus to be built totally ment with the school in recent years are former NAC chair, led the way by estab­ with external funding, raised primarily the Endowed Scholars Program and the lishing the Georgia Thomas White 'through NAC contributions and International Student Sponsor Program Professorship in Management. fond-raising efforts. In a fin al act of (ISSP). T~e'End~wed Scholars Program Following Steve's and Georgia's desires, generosity and dedication, the council this' professorship provides funding to raised the funds fo,r the NAC confer- invite an outstanding woman teacher ,, ence room and th e faculty commons on to campus. For the last two years, the seventh floor. \ Dr. Larzette Hale, a nationally recog­ In 1974, NAC announced a special nized accounting educator, brought annual awat'd sponsored qy !,he council vitality and professionalism to her and the School of Manage.:rient. Award classes and to' her faculty position as recipients would be outstanding the Georgia Thomas White Professor. executives whose professional and per­ Other NAC.inihated professorships sonal lives represent BYU values. Over are the J. Earl anlElaine B. Garrett

the years, th e International Executive Professorship, th e Nyal D. and Bette r - of the Year (IEY) Award has been a McMullin Professorship, the J~el C. highlight of the academi c year and has Peterson Professorship,;the J. Fish J ;i een given to many outstanding execu­ SmithJ rofessorship, and the }Villiam F. tives. Representati'(_e of tl:iis group Edwards Professorship. are Ronald W. All.ei;i of Delta Airlines Several years ago, Wilford A. (1991), Jacqueline G. Wexler of the Cardon, as a member of the NAC -National Conference of Christians and Executive Committee, initi-ated an Jews (1990), L. S. "Sam" Skaggs international student program proposal. (198,9), and James H. Evans of Union For several years he and Duke Cowley Pacific (1976). ,; ]. David "Bud" Billeter, NAG chair had been sponsoring Brazilian students When Paul H. Thompsonbecame at BYU. He felt this prograJ11 coul,9 be dean, council members became actively raises much-needed funds supporting expanded to be"nefit students from involved in strategic planning and · faculty development, management ~ th er countries·, and he challenged moved into fund-raising for th e research, curriculum development, and NAC to respond. Several NAC members Endowed Scholars Program. K. Fred student scholarshipS'. For example, caught the vision of what is now called' Skousen, when he became dean, began NAC members who are partners in the I?iternational Student Sponsor to involve these external supporters in a - major accounting firms too~ the chal­ Program. To date, 18 students have / myriad of ways td help the school falfill lenge and immedi_!ltely began working graduated with-two-year professional its mission to e d ~cate students with ' with Arthur Andersen & Co., Ernst & degree's (MBA and MOB). These gradu­ ethi cal values, manageriient skills, 'and Young, and Peat'Marwick to establish ates have returned to their home cou11;: leadership abilities needed in orgi!"niza­ _professorship endowments. Dallas H. tries of Argentina, Great Britain, Brazil,

tions worldwide; to conduct ~nd Bradford, a partner in Arthur Andersen . r Chile, Venezuela, and Mexico. Their

0 9 1 • 9 2 Y E A R I N R E V I E W

I employment is with companies such as chapters, management students can Black & Decker; Ernst & Young, establisn relati onships with business WordPerfect, Otis Elevator, Procter & professionals, thereby enhancing the Gamble, and Minera Escondide student's career preparati on. Limibada. Ronald E. "Ron" Malouf, chair Currently, a NAC committee,with of Malouf Company, former NAC chair, Donald L. Staheli (Continental Grain and Management Society nati onal pres­ Company) as chair, works to provide ident, stated: leadership and financing for this inter­ The Marriott School's Mentor national student support program. They Program is providing a direct line assist ISSP and other international for the students to the world of students lo obtain internships and business and management. I know career employment. For example, fro m personal involvement with Continental-Grain sent Kersti Alabe11 students how valuable this can be to Geneva, Switzerland, on a 1992 for them. Through the mentoring summer management internship. process, lifelong fri endships are Kersti , an Estonian, returned to th e built. I'm grateful to be involved. MBA program this fall semester to com­ plete her second year. This opp£rtunity Additionally, National Advisory Ronald E. "Ron" Malouf With Continental Grain was Kersti 's Council members are-{!o mmitted to first real experience with the free enter­ matching th e .MaiTioll $15 million gift Anderson, moved to Salt Lake after his prise system, and it helped to bring by 1996. To accomplish this, th ey have retirement from No rthern classroom learning into reality for he1: formed th e Leadership Alliance and ai·e Petrochemi cals. He provided necessary Continental Grain also provided Larry personally prov iding leadershi p and local leadership for th e Salt Lake Fu a summer internship. He spent two funds. D. Ri chai·d McFerson, a NAC Chapter of th e Management Society and months in Beijing, China, and then member and president and CEO of continues to be acti vely involved in returned to Continental's Chicago office Nationwide Insurance Companies, is chapter events. to complete his analysis and report national chair of thi s new fund-raising Collecti vely, NAC emeriti represent before returning to s9:hool. organization, and Ron Malouf is the a source o~ strength for the school. Mary Anne L. Graf of J:Iea1th Care NAC committee chair. These men, '"As most Exchange readers know, the Innovations hired one fl.ill-time together with representati ves from th e Marriott School is named after employee from the Class of '92 and Alumni Board, th e MSM, and other J. Willard and Alice S. Mah'iott, c h art er~ provided c\ ne summer internship. MSM friends, are leading out to provide members of AC and NAC Spouses. Dan R. Paxton o( Pizza Hut recruited entree into foundati ons, businesses, and A major gift from Mr. and Mrs. Marri ott, two MBAs from the Class of '92 for indi_viduals wh o can ultimately assist the followed by a gift from the Marriott fa m­ full-time positions and hired one school in meeting its fund-raising goal. ily and a generous on-going commit­ summer intern from the MBA class of ment, help(\d the school move forw ard. 1993. Over the years, other NAC mem­ I The continuing supp011 of the Marriott National Advisory Council Emeriti bers have provided similar opportuni­ family is an important asset as th e ti es for work and research. . A special group of supporters is school moves into th e 21st century. The National Advisory Council composed of emeritus members of the J.W. Marri ott, Jr: is a NAC e m e r i t ~s fulfills th e leadership role.for the BYU Nationa(A dvisory Co uncil. These men wh o conti1-.;ues to assist the school with Management Society, an international and women have maintained a commit­ specialized projects. Richard E. association of MSM alumni and friends. ment and loyalty to th e Marriott School Marriott is a cunent ~AC member who NAC members have been presidents, of Management through participation serves on its executi ve committee. consultants, and board members for in local Management Society chapters, These are just a few of the over 185 various Management Society chapters. by making annual gift donations to the former NAC members who have served Current national chair M. La Voy school, and by sending letters of sug­ th e school and helped it to take steps Robison (Denver, KPMG Peal gestion and support. forw ard . Each of these NAC members Marwick) spends hours with th e soci­ Representati ve of th eir continuing has rendered special-and 'm uch ety 's board members and MSM repre­ interest and commi tm ent is Veigh appreciated-service. sentatives planning how to strengthen Nielson's service in th e Dean's Office. the society and to make it a more After he retired from Phillips 66, and National Advisory Council valuable resource. Currently, the until he and his wife were called to Spouses C9mmittee Management Society, in conjunction servi ce in the Dallas Temple, Veigh with the MSM Alumni Board, is coordi­ worked in the Dean's Office with inter­ ' An important link in the success of nating a new program to assist students, national students and on other projects an MSM gradu ate is the spouse, who "The MSM Mentoring Program." needing attenti on. is partner in the home and family. Through local Management Society Another NAC emeritus, Byron Recognizing this important relati on-

91 • 9 2 YEAR 'I N R E VIEW ship, the spouses of National Advisory which mutually interesting subj ects . entrepreneurship track in,the under­ Council members were drganized have been discussed from academi c graduate business program and an · almost immediately after the council and business-world perspectives. As a entrepreneurship area of emphasis in was established. Over the years,Jhe result of these meetings, case studies the MBA program. Through the challenges for this group have changed. / are in development, and some alu'rn ni Entrepreneur Lecture Series, many Early on, t)1e emphasis was predomi­ will be working with faculty members to board members have been able to share nate1y on wives and''mothers, but as review class outlines and curricula. their personal perspectives, insights, more women entered MSM professional The MSM Alumni Board has helped graduate programs it became necessary plan and implement the new Leader­ to broaden the program's perspecti ve ship Alliance fund-raising program. and approach. The members themselves have made - Under the capable directjon of substantial monetary contributions to

outstanding NAC s pou ~es, this program the school. / --., ' assists students and spouses to make the transition from student to profes­ Entrepreneur Founders sional life. During the 1991-92 year, Marjorie Bradford served as chair. The Center for Entr" epreneurship in the With vi ce-chair Carol Hansen, Marge Marriott School of Management works worked with NAC spouses and student with a dedicated group of entrepre­ spouses to present a workshop/confer­ neurs-the Entrepreneur Founders­ ence on the theme "Time for You. " who help the center determine policy and who advise direction for entrepre­ neurial education at Brigh,am Young - Alumni Boord University. The Entrepreneur Founders The MSM Alumni ~oard began in is cha ifed by Le.Roy K. Speirs. 1986-wi.th a small group of committed In 1989, Dean K. Fred Skousen members. -Since then, the size of the announced that entrepreneurship boa;d has increased and its purpose would be one fo cus 6£ three centers of has become clearly defin ed. The board excellence within the _Marriott School of has 35 to 40 members who serve a ·Management. The program has grown advice, and expertise on management three-year term , and 30 individuals are and continues to develop under the issues with MSM students and discuss emeritus members. Kent Meyers leadership of D~ an Skousen and personal successes and failures. serves as board chair. D1: Brent D. Peterson, program director. Many founders invite faculty and ) The board's purpose is to develop The mission of the Entrepreneur students into th eir organi{ations to within alumni and students a desire Founders is: To support the Center for conduct research. In addition, some and commitment to support the Marriott Entrepreneurship by and through have donated time and funding to School. This support includes financial contributions and involvement. To fulfill develop cases for classroom use. These resources ,and alumni-school identifica­ this mission, the founders have identi­ c'ase studies are researched and written tion. The board also promotes recruit­ fied seven support areas: by students as part of a graduate course ment of MSM graduates. taught by Brent Peterso-n. Recently 1. Participate in fa culty/student Board committees include fund rais­ James Frase1; CEO and chairman of the research. ing, alumni relations, and student rela­ board of Brighton Bank and the chair­ 2. Assist in developing teaching tions. During th eir semiannual \neetings, man of the Utah Bankers Association, materials. board members meet with individual sponsored a case write-up about 3. Gi ve lectures and presentations to students and become career-preparation Brighton Bank's beginnings . Students MSM students and other groups. mentors. The Alumni Board originated also have written a case study about 4. Serve as role models fo ~ aspiring the idea of a mentor program and con­ Charles Hobbs' recent decision to sell studen(entreVieneurs. ~ ducted a pilot program with board mem­ his company to payTimer, Inc. John 5. Help arrange internships for bers. The Mentor Program is presently McKeon invited students to research a students. cosponsored by the Alumni Board and recent expansion decision of the 6. C_onsult with MSM fac ulty and the MSM Management Society. ljoward and Phil's Western Wear chain. administration. Another successful Alumni Board The founders' financial support 7, Assist in providing funding to program has befm a series of panel has been Very helpful in guiding the develop an e nd owm~ t for the center discussions. Boar:d members have center toward a $5 million program­ and to provide operating capital. addressed students on subjects such as m~ int e nan ce e ndowm e nt ~ As the succes-sful interviewing, the importance Sjnce its inception, th e Entrepreneur center works to obtain this endowment, of networking, and entrepreneurship. Founders has had a significant impact the founders help with necessary The board has also imp lemented on the Marriott School of Management. operational funds. Their gifts provide interactive alumni/faculty groups in Board members' efforts have led to an research support, scholarships,

91 •92 YEAR IN REVIEW curriculum development, and library product development area. For pursuits and who are willing to work to holdings. Mervyn's, 50 percent of the merchan­ improve SO.AIS programs. With founders' help,:new entrepre­ dise sold is private label. Fails was able The specific board objectives are to-- neurship classes are being developed in to witness the effects of the trend 1. Ensure the continued quality and MSM undergraduate and graduate pro­ toward global sourcing in textiles and progressive outlook of SOAIS grams. Entrepreneurial research will be how Mervyn's interpi:~ts industry trends prog'rams through periodic peer given more attention, and work is·being in developing their product lines. She I review; done to secure holdings for a library. was also able to tour the company's 2. Serve as a sounding board for distribution center. present and proposed SOAIS Business management professor -Skaggs Institute of Retail activities, including periodic William R. Swinyard has been on Management National updates of the long-range plan; several faculty development internships Advisory Board 3. Assist in implementing a in the last few years with firms such as practitioner-faculty-student The National Advisory Board objectives Target, Express, Mervyn's, and partnership; are to help keep the Skaggs Institute JCPenney. Most of those visits were 4. Promote the school within the abreast of the continually changing arranged through the National Advisory accounting and business community; trends and needs of the retail industry Board. Dr. Swinyard said that these 5. Assist in \ecruiting students and and to provide an ongoing review of the experiences have been beneficial placing interns and graduates; institute's programs." because he was able to build relation­ 6. P_rovi de guidance and direction in With the help of its National , ships with senior retail managers and fund raising; and Advisory Board, the Skaggs Institute establish cont;cts for the MSM. He has 7. Facilitate professional development has become one of the most respected been able to see and understand the leaves and relevant professional and nationally recognized programs in training these companies are expecting experiences for the faculty: the Marriott 'School of Management. in the college graduates they hire. Much MSM recruiting comes from Having been inside the organization, Candidates fo~ board membership board-represented retailing firms; t-hese· he can better represent the company to are nominated by SOAIS faculty and / firms know the quality of both the the students in classroom discussions. current board members. After approval Skaggs program and its graduates. It also helps to keep him current on by the SOAI$ Executive C~ommittee In ,addition to advising the institute, retail practi'ce. and the MSM Dean, appointments are participating executives interact with ~ New. direc tion s for the future of the m ~d e by the SOAIS director and the MSM students. Each year as m ~n y as Skaggs Institute and of retail education Board of Advisors chair. Each member 300 students attend the board's ques­ at the Marriott School of Management serves a three-year term. The specific tion-and - answ~r panel discussion as were the topics of this year's National number of board members depends on well as the small-group meetings with Advisory Board meetings. NAB mem­ the availability of qualified individua!S individual board members. In these bers- suggested four specific in ~ titut e who can and will effectively contribute settings the executives are able to obectives: 1. to improve the quality, their time and talents. An appropriate answer questions and give insight into preparation, and education of BYU stu­ representation from each of tlie Big Six the things that have impacted their dents entering retailing as a ca reer ~ 'accounting firms, other national and careers. Many students say this associ­ 2. to generate faculty interest in retail­ local CPA firms, industry, systems, and ation with executives from some of the ing; 3. . to facilitate quality research in government is sought. country's most successful compani es is retailing; and 4. to create an educa­ Board members come from across one of their most significant extracur­ tional partnership between BYU and tne U.S., ensuring representation of ricular activities. the retailing community in developing all regions from _w hich potential SOAIS Board members have also been retailing education. students are drawn and to which gradu­ instrumental i ~ arranging faculty intern­ ates may return to seek employment. ships with their companies. Each sum­ Board members need not be members School of Accountancy and Infor­ \ mer, one or more MSM faculty members of The Church of Jesus Christ of mation Systems Board of Advis~ rs spends time at the corporate headquar­ Latter-day Saints or alumni of BYU. ters of a board member's company. The School of Accountancy and Scott Petersen of Ernst & Young, is During the summer of 1991, Sally Ip.formation Systems (SOA1S) Board of current board chair. ) Fails, assistant director of the Skaggs_ Ad'Visors is an external sounding board Since its inception in 1975, the Institute and an instructor of merchan­ and support group comprising 12 to 18 Board of Advisors has been instrumen­ dising in the BYU C~lothing and Textiles individuals. The board's objective is to tal in helping SOAIS improve its Department, participated in a two-day assist SOAIS faculty in providing high­ programs to the point where the under­ faculty internship at the Mervyn's quality accounting and information graduate program is rated fourth in the headquarters in Hayward, California. systems education at Brigham Young U.S. and the graduate program is rated The internship was arranged by NAB University. Board members are alumni eighth. The Marriott School of Manage­ member Joe Tomaselli. and friends who are committed to excel:: ment's accounting graduates are among Most of Fails' time was spent in the lence in education and professional the most highly recruited groups in the

9 1 •92 YEAR IN REVIEW nation. Mu ch of the BYU recruiting is Public Relations Advisory their areas of experti se. The book's by SOAIS Boars of Advisors members. Committee format will assist th e media in contact­ Placement records for th e 1990-91 ing MSM faculty members regarding school year show that of those graduates In February of 1990, th e Public current national and international news seeking employment, 99 per cent of Relations Advisory Committee was sto;ies on which commentary from MAcc graduates and 98 percent of BS formed from membership of the faculty experts would be useful. graduates were placed. National Advi sory Council, the Alumni SOAIS has benefitted from the ' Board, the Entrepreneur Founders,­ The Taggart Program of individual efforts of many of the board ManagemenfSociety chapters, and Insurance and Financial Services members. Space permits mentioning MSM faculty and staff. Various MSM · The Taggart Program of Insurance and only a few. Former Advisory Board chair task forces had suggested forming a Financial Services began as a result of and Arthur Andersen partner Dallas public relations committee to bring a gift to Brigham Young University Bradford secured funding for the Aithur the Marriott School of Management by the late Grant Taggart, a prominent message and name before the world. and successful lntermountain Area The Public Relations Advisory insurance executive. The gift's purpose Committee currently has 16 members was to help stimulate insurance and co-chaired by Steve Hansen and financial services education. It under­ MSM public relations director writes the Grant Taggart Symposium, Kaye T. H anson. a two-day BYU conference for insur­ The committee has been directly ance professionals that has been held _, responsible for a number of successes each year since 1989. The symposium over the past year. For example, early features workshops and presentations in committee discussions it was sug­ by many national and internationally gested that a videotape promoting the renowned speakers. MSM would be a usefu l publicity tool. Encouraged by the Taggart Two videos were completed and dis­ Symyosium's success, and recognizing tributed this year. One showcases' the the need to strengthen the MSM insur­ Marriott School of Management, and ance and financial services curriculum , the other fo cusses on the MBA pro­ the dean's office sponsored (as part of gram, specifi cally hi ghlighting changes the Executive Lecture Series) the instituted during the past two years. Insurance and Financial Services Both videos have been very positively Lecture Series for MSM students. received and are excellent representa­ This year, Dean Skousen has Scott Petersen tions of th ~ MSM ; vision and mission. proposed and received administration The MSM videotape was translated into approval for an insurance and financial Andersen Professorship Endowment and German and used during the Executive services curriculum. The program will is heavily involved in recruiting MSM MBA tour of Europe in June. Copies be funded entirely from outside sources accounting graduates. Current board were given to corporations the EMBAs and will be aimed at helping both stu­ member Roy Avondet is leading the visited in Switzerland, Germany, dents and friends of the school become effort to secure a professorship endow­ Czechoslovakia, and Sweden. Another better able to manage their own ment from Delloitte & Touche. Otrin T. video presentation is being prepared finan ces. This means having competen­ Colby, of Utah Power & Light, has ·l for the Executi ve MBA program. cies in at least the use of insurance worked to make funding available each The PR Committee has also focussed (life, health, casualty, etc.), invest­ year for UP&L student scholarships. In on unifying and increasing the quality ments, tax management, and compre­ total, the board has helped i;aise money of publications originating in the MSM. hensive financial planning. to fund four professorships, two research Th ~ committee announced last year To implement thi s program, the fellowships, a $100,000 endowment, that Dean Skousen has approved a MaITiott School of Management will and supplemental operational funds of publications council that will establish rely heavily on involvement of the approximately $50,000 per year: guidelines governing all MSM publica­ Tagga1t Insurance and Financial Another significant SOAIS board tions including mission statements, Services Program Committee. The contribution has been significant feed­ quality standards, timing frequency, committee is chaired by Rulon E . back during development of the new and production procedures. Another Rasmussen and jncludes representa­ undergraduate accounting curriculum recent PR Committee success has bee·n ti ves from both the MSM and industry. introduced during the 1991-92 school the approval of an official identity mark The dean's proposal fits well with yea1: The board has also provjded fac­ to be used on all MSM publications. overall Taggard Program objectives, ulty professional development leaves Currently, th e PR Committee Is wh ich are to- for SOAIS professors Lynn McKell, preparing an "Experts Book" for distri­ Emory Sonderegger, Dave Stewart, bution to media representatives. It 1. create an environment of profes­ Owen Cherrington, and Leon Woodfield. showcases MSM faculty members and sional cooperation between Brigham

91 • 92 YEAR IN REVIEW You11g University and the insurance philanthropic giving, the Leadershi p and financial services industries; Alliance helps secure external funding 2. intensify insurance and financial necessary to achieve the MSM goal of services educatlon for BYU students; management education excellence. 3. integrate into the MSM instructional External funding has provided program participation by insurance expanded opportuniti es ranging from and fi nam;_ial services professionals; scholarships, fe llowships, and profes­ 4. foster integrity and professionalism sorships to funding enti re -programs among individuals seeking careers such as the Center for Entrepreneur­ in in s u ra~ce and fin ancially oriented ship and the Skaggs Institute of Retail fi elds; Management. The N. Eldon Tanner 5. conduct profe ssional development Building, which houses the Marriott programs including seminars, Schoel of Management, exists because lectures, workshops, etc.; of the generous support of university 6. educate consumer:s in the benefi ts friends. and appropriate applicati on of The Leadership Alliance is !tie insurance and other fi nancial coordinating center fo r all MSM fund services prodticts; and raising, thereby obviating duplicated 7. conduct and publish re~earc h on William G. Dyer ~ - fund raising expenses. Th~ Leadership insurance and fin ancial services Alliance aqd its board are iqtent on topics that will be -useful in both regarding_p rogram curriculum, 1 matching the Marriott fam'ily's gift of academi c and professional emergi ng trends in th~ fi eld, studept $15 million (initiated in l 988) by environments". qualifications, and· other issues. December 31, 1996. 2. To help students obtain valuable The Leadership Alliance is guided, The dean's office, the university experience through quality intern''"' under the direction of Dean Skousen, administration, and-t he Taggart ships and to help place graduates in ,by an executive committee chaired by Program Commitfee are all enthusiastic professional positions. Richard McFerson, president of about the program's future. Eventually, 3. -To assist-the faculty in organizing a Nationwide Insural!ce G_9 mpany, with / they hope to establish a Taggart Center / first-rate OB conference each year. , Vi ce-Chair Ron Seamons,- MSM for Insurance and Financial Services 4. To develop short courses, workshops, director of development, and A5sociate similar to the Skaggs Institute for Retail and seminars led by practicing Dean William R. Siddoway. - Management. With the Skaggs' Program professionals to help OB students The first 12 months of the program success and the recent develop11Jent of get " hands-on" experi ence while at have been very successful. With the a new accounting curriculum-also a BYU. , commi tment and dedication of many competency-15ased program-Dean ~ 5. To establish a lecture series that loyal volunteers, -gifts totaling approxi­ Skousen is confident th ~t with contin­ invites human resources profes­ mately $1.6 million have been devel­ ued support of the Taggart Program the sionals to campus to address oped from many private, corporate, and MSM will succeed in properly develop­ students and faculty. foundation sources. In the short time ing a top:rate insurance ~nd financ; ial 6. To identify research or consulting since its inception, the Leadership services curriculum. opportunities that will benefit OB Alliance has received contributions stlidents, fac ulty, and graduates. from·76 percent of the faculty, 56 per­ Master of Organizational cent of National Advisory Council Board members serve for a minimum Behavior Advisory Boa rd members, and 56 percent of Alumni - - I of three years. William G. Dyer is the Board members. Two individual and Early in 1992, Warner P. Wriodworth, current chair. -three corporati on donors h~ve each chair of the Organizational Behavior Future plans for the board include gifted sums of $100,000 or more. Department, invited William G. Dyer, establishing a "practitioner-in-resi­ One of the fastest growing support a founding member of the OB faculty dence" program in which a profe§sional areas is the MSM Matching Gifts and former MSM dean, to help create comes'1o campus for an extended stay. / Program. Many alumni,_ and friends an MOB Advisory Board. Their aim was The MOB Advisory Board will make a have'made the effort to contact their to assemble a group of professionals significant contribution to the future companies to secure matching gifts, who coul dJelp strengthen the MOB success of the program and to the MSJY: which double (and sometimes triple) program and help both faculty and as a whole. the amount of their contributions. students build better networks with Speaking of this past year, practi cing OB prcl°essionals. Leadership Alliance Chair Richard In its firs t meeting in March, the Leadership Alliance Mc Ferson said he viewed 1992 "as an Advisory Board established the follow­ The- Leadership Alliance was formally organizational year. We succeeded in ing obj ecti ves : named and implemented in October of building the linkage between the differ­ 1. To give input to the OB department 1991. { ounded upon a rich tradition of ent Marriott School groups and we ' /

91 • 9 2 YEAR IN R EVI E W

/ made a nice start toward our financial serves as executive director. This Seminars and presentations from BYU goal as well." He also voiced optimism national organization reports to the administrators and faculty, church lead­ that the Leadership Alliance will reach MSM Nati onal Advisory Council ers, politicians, members of the judi­ its objective within the established Executive Board. M. LaVoy Robison, ciary, CEOs and othbr business leaders, time frame. He continued, "We've had who served as national chair for several tax specialists, discussion panels, econ­ a good first year, buttthe real work lies years, promoted and helped develop omists, ana newspaper editors. ahead-in taking this plan and organi­ national and chapter organizations. Discussions have touched on such zation and converting them into real topics as ethics, career pfanning, and financial results." general management development. Anyone desiring information about. In addition, many M·anagement the Leadership Alliance can contact the Society chapters have found great Dean's Office at (801)378-3801. opportunities to serve their local com­ munities, while simultaneously building their chapters. Local celebrations, Management Society centennials, conventions, or oth er spe­ lrl 1977 Merrill J. Bateman, then dean cial community events provide many ofthe College of Business and Graduate opportunities for chapter exposure and School of Management, announced to service. Chapter sponsorship often alumni and friends that BYU's adminis­ takes the form of program organization, tration had approved creation of the funding, or function services. Brigham Young University Management During the bicentennial celebrati on Society. of the U.S. Constitution, the Washing­ Today the Management Society is ton, D.C., chapter cosponsored a well established, with 39 chapters Mormon Tabernacle Choir concert. organized in the United States, Brazil, Another chapter sponsored a debate Canada, Hong Kong, Japan, Korea, and between political candidates during Singapore. Membership is available to local elections. At its annual banquet, all Marriott School graduates, friends of one chaplet presents an award honoring BYU, and other interested members of a local business or church leade1: When the management community. Each chapter functions indepen­ BYU's football team plays near some In November 1984, joint dently. Each has its own board of chapter areas, these chapters hold a Management Society/MSM National directors and carries _out its own pro­ tailgate party at the game. Advisory Council meetings were first grams in its own geographic area. Each Several chapters periodically publish held. Chapter leaders and NAC mem- chapter is financially self-suffi cient, newsletters for chapter members. The - bers have gathered annually since to financing its operations through annual newsletters often contain information exchange ideas and provide feedback to dues. The national organization and the about chapter members, policy changes BYU in a variety of areas. MSM provide local chapters with and updates, job opportunities, service The Management Society is a advice, forms, computer assistance, projects, community affairs, and actions ,national organization of emerging and Dean's Seminars, and access to the taken by the chapter's board. established business leaders and MSM placement service. The school In conclusion, external support is managers from the private and public also sponsors an annual leadership a major source of strength for the sectors. Its express purposes are to: meeting. Regional coordinators main­ Marriott School of Management. With tain regular contact with their _assigned the help of special individuals and 1. further and enhance the career chapters and act as liaisons to the grouis, like those mentioned in this/ development of members. national organization and, upon report, the Marriott School is able to 2. make members' skills and talents request, as advisors. provide enhanced management educa­ available' in support and service to A basic Management Society tion. Their experti se and financial sup­ BYU and the MSM. purpose is to promote networki ng that port make numerous opportunities to 3. provide member networking enhances members' careers. Some of grow and develop available to faculty opportunities. the most prevalent chapter member and students. Extei'nal support is 4. be of service in the com mu~ty . needs are for management training, essential to the overall well-being of This mission is c~mi ed out through new ideas, more business contacts, the school. Thanks to the commitment the efforts of a national organization continuing professional education and loyalty of alumni, fri ends, and and local chapters. The national (CPE) credit, and opportunities to share corporate partners the school is making organization, known as the Steering activities with spouses. excellent progress in its mission to Committee, consists of a national chair, It is not possible to list all of the provide outstanding management Richard E. Cook, and regional coor­ outstanding programs that existing education for students and producti ve dinators. They work directly with a chapters have provided for their mem­ research and development opportuni- representative of the dean's office who bers. Events have included Dean's ti es for faculty. •

91 • 92 YE AR IN R E VIEW continued from page 16 The decision to require coauthored books in analy­ positions at Aetna Life & MAcc students to complete sis, media development, and Casualty, headquartered in industry needs and offering the graduate common core is communications. His Hartford, Conn., and is suggestions for improvement. due in part to the changing research involves studying currently president of The Skaggs Institute is requirements for the human resource develop­ also establishing the Certified Public Accountant ment in Fortune 500 corpo­ Partnerships in Development exam. In order to sit for th e rations and analysis of the and Teaching Program. This CPA exam, 150 credit hours causes and effects of in vites retailing executives of coursework are required. managerial plateauing in and National Advisory Board The graduate common core corporate Ameri ca. members to review the not only allows MAcc stu ­ Pinegar has been a mem­ curriculum, advise changes, dents to take graduate-level ber of BYU's fa culty since and become more invol ved business courses but also 1988 and teaches fin ance to in classroom discussion and adds an integl·ative approach both graduate and under­ team teaching. to their education . Students graduate students. Prior to In addition to the student from a ll three di sciplines coming to BYU, Pinegar was activities, the institute is will share in class di scus­ an assistant professor at the work ing on strengthening the sions, case studies, and University of Iowa. Kent Meyers interface between fa culty study groups. A graduate of BYU with members and retail execu­ Although integration is a bachelor's degree in Aetna's equity investment ti ves. Dr. Rinne is currently the goal for the common German, Pinegar earned an operati ons. He earned both a developing plans to in volve core, each graduate program MBA and PhD in finan ce bachelor's degree and MBA MSM fa culty in cooperative will retain its identity by from the Uni versity of Utah. from BYU and participated research projects that will having its own orientation, Hi s professional work ex pe­ in intramural sports. further the knowledge of student organizations, ri ence includes positions as Nemrow is an adjunct both the participating retail fa culty advisors, and areas a rate case assistant for Utah professor for th e Marriott outlets and the professors. of specialization. Power and Li ght and a School of Management and The institute is also mi ssile launch officer for is also in volved in private enli sting faculty internships th e U.S. Air Force. real estate investm ents. He to improve faculty member's MSM Annotmces He has authored and is a former member of AICPA knowledge of and experience Professor Promotions coauthored numerous papers and was previously president with the retail environment. published in journals and of J.D. Stout Co ., a real estate Several have already indi­ Faculty members Gordon E. presented at professional investm ent company, and cated interest in consulting Mills and J. Mi chael Pinegar meetings. He is currently vice chairman of 5-Star in operations, marketing, we re recently promoted researching wealth sharing Ma nagement Group, a real and other fi elds. from associate professor to in domesti c li censing agree­ estate management company. While many of these professo1: ments and the benefit s of He earned both bachelor's acti viti es are still in their Mills, a professor of orga­ international di versifi cati on . and master of accountancy developmental stage, Dr. nizational behavio1; special­ Pinegar is a member of degrees from BYU. Rinne feels that they will izes in analys is, design, and the Western Finance have a significant impact on media development in Association, Financial im proving th e already human resource develop­ Management Association, L. Ralph Mecham Named successful Skaggs Institute. ment. He graduated from Academy of International Outstanding Public BY with bachelor's and Bu siness, and European Administrator master's degrees in commu­ Finance Association. MAcc Students ni cati ons, and received a The Master of Public Participate in Grnduate PhD in speech from Pennsyl­ Adm ini stration Program has Common Core va nia State University. MSM Alumni Board named L. Ralph Mecham as Beginning fall semester A recipient of the Elects New Officer s Outstanding Public 1992, students in the Master Management Development Ad ministrator of the Year. of Accountancy Program Award for Excellence The MSM Alumni Board Mecham wa s honored at a joined MBA and MOB stu­ bestowed by the American elected new offi cers to serve special banquet on February dents in taking the Marriott Society for Training and fo r the next two years. Kent 27, 1992. School's graduate common Development, Mills has Meyers will succeed Ralph He is director of th e core courses. The core served as a consultant to Chri stensen as president, Ad ministrati ve Office of the includes classes in finance, energy-related industries. and Norman emrow wi ll Un ited States Courts, operations, marketing, He has published articles in replace out-going vice presi­ appointed to that position in organi zational behavio1; and both acade mi c and profes­ dent Stephen Morgan. 1985 by the U.S. Supreme written communication. sional journals and has Meyers has held va ri ous Court.

E X C H A N G E 25 He earned his BS degree servi ce and teach its value and columnist for the New Database for MSM with " highest honors" at the Lo your students. I also urge York Times; Craig Goldman, Management Societies University of Utah, hi s JD you students to consider chi ef information offi cer; and at George Washington public service as a caree1: Elaine Bond, Chase fellow The Marriott School of University, and his MPA at It is very challenging and and senior technology Management is developing Harvard. rewarding to know your consultant for Chase · an integrated database for Mecham has a wide back­ programs and accomplish­ Manhattan Bank; Robert J. use by Management Society ground in public service. He ments are vital to the Frankenberg, vi ce president chapters. The first objective began his Washington career well-being of the nati on. I and general manage1; of th e system, according to as an administrative believe you would find , as I Personal Information Dr. Lynn McKell, is to have, that public servi ce can Products Group, Hewl ett­ establish exchangeability be an opportunity for a Packard; James Flach, vice and consistency among brighter future for you and president, Intel Products Management Society data our nation." Group, Intel Corporation; J. and the BYU External Mecham emphasized that Scott Briggs, president, and Relations Information Center continuity in government Eric Hippeau, chairman and (ERIC) database. Second, programs , especially with chi ef executive officer; Ziff­ the system will allow infor­ the turnover of political Davis Publishing Company; mation exchange between appointees, is accomplished Steven Jobs, president, society chapters for network­ through th e efforts of chairman, and founder; ing purposes. And finally, professional public service NeXT Compute1; Inc.; the system will support employees. Darrell Panethiere, minority membership tracking, dues counsel and senate aide to paid , etc., for all chapters L. Ralph Mecham Senator Orrin Hatch; and through its centralized effort. MSM Cohosts Ray Noorda, president and CurTently in the testing assistant and counsel to a Information Technology chi ef executive office1; phase, the proj ect is pro­ United States senator from Summit Novell, Inc. jected for release during the Utah. After 13 years in Panel discussions fea­ fall of 1992. Washington, he returned to BYU's Marriott School of tured topi cs such as systems Utah and served four years Management cohosted its integration and CEO/CIO as vice president of th e first annual Information perspecti ves on MIS. EMBA Tour- Europe '92 University of Utah. He has Technology Summit March Workshops addressed issues also served as special assis­ 25-27 in Salt Lake City. on multivendor education, With the whole world tant to the secretary of com­ More than 150 senior execu­ information exchange meth­ watching the developments merce for regional economic ti ves from leading computer ods, and software li censing surrounding Europe '92, th e coordination and as co-chair companies and computer term s and conditions. Executive MBA Program of the Four Corners Regional technology consumers Twelve graduate students (EMBA) administrators Economic Development attended the event. The from th e MSM joined decided to try something Commission. He was vice summit was sponsored by a students from the University new. Rather than taking the president in charge of fed ­ worldwide organization of of Utah and Westminster graduating EMBA class on a eral government regulations computer network users College as guests of partici­ tour of the Orient, as has for the Anaconda Company called OURS (Open User­ pating executives and been done in past years, until it was acquired by the Recommended Solutions), summit cohosts. The Burke Jackson, tour directo1; Atlantic Richfield Company whi ch links customers and students were able to net­ arranged for a tour of (for whom he served as vendors in resolving infor­ work and interact with Europe. Washington representative mation technology customer executives from top technol­ Fifty-five people, includ­ until his current appoint­ issues. ogy firm s. ing students, spouses and ment). He claims the modest Other hosts included According to OURS family, fa culty, and adminis­ distinction of having worked th e Utah Information Presid ent Elaine Bond, trators, spent a busy 17 days in all three branches of the Technologies Association, "Utah was chosen as th e bussing around Europe to fed eral government. of whi ch BYU is a member; conference site because of meet with managers from In accepting the award, the Utah Technology Finance its increasing significance in several major international Mecham s tr~ssed th e impor­ Corporation; Vancott, th e U.S. information tech­ companies and to tour th eir tance of public service to Bagley, Cornwall & nologies industry." Utah's fa cilities. the nation and th e need for McCarthy; and various state software industry ranks third In planning the trip, ethical behavior in govern­ economi c development in th e country in revenu es organizers wondered wh eth er ment. He said, "I urge you agencies. behind California's Sili con a trip to Europe would have fa culty members to remem­ Keynote speakers were Valley and Redmond, th e impact of the previous ber the importance of public Peter Lewi s, editor, reporter, Washington. trips to Asia. According to

26 E XCHA NGE Li sa Lambert, EMBA vari ous positions, including were award ed Exxon (1988 to 1990) to serve as a directot; th at question was general auditor, controller Outstanding Teaching visiting associate professor answered with a resounding for Ford Tractor Operations, Awa rd s for 1992. They each of fin ance at Harvard "Yes"! received $1,000 from Exxon Uni versity. In addition to The key to this trip's Corporati on, sponsor of the teaching, Heaton currentl y success was the quality of award, for th eir outstanding serves as an ex pert witness th e contacts in each of the classroom performance, in court hearings and trials organizati ons. Through Ulf excellent teaching meth ods, in wh ich valuation is a Hoaglund, the contact and innovati ve curriculum central issue. He also person in Europe, the group developments. teaches fin ance development was able to meet with the A member of the MSM seminars in the United CEOs of Saab and Astra School of Accountancy States, Europe, As ia, and Hassle and with other high­ faculty since 1971, Smith South Ameri ca. ranki ng offi cials of compa­ served as a visiting professor A graduate of BYU with ni es such as BMW, Siemens, of accountancy to the a bachelor's degree in Volvo Tru ck, Rove1; and Uni versity of Hawaii . He has computer science and VW-Skoda. Mu ch discussion Richard E. Cook also taught at the Uni versity math emati cs and an MBA, revolved around the man­ of Minnesota and Stanford Heaton went on to earn a agers' reacti ons to Europe and corporate general assis­ Uni ve rsity. In addition to master's degree in econom­ '92 and th e effect it wo uld tant controlle1: Cook has teaching, Smith has served ics and a PhD in fin ance have on th eir industries. been a member of the MSM as a fac ulty consultant for from Stanford University. About th e value of th e Nati onal Advisory Council Arthur Andersen & Co., an Hi s professional experi ence trip, program director since 1973. He was honored ex pert witness for various includes consulting for Lambert said , "You can't by th e BYU Ma nagement law firm s, and a professional Boston Co nsulting Group. globali ze managers in two Society in 1991 with its instru ctor fo r IB M. He is cur­ The author of numerou s weeks, but it does give them Di stingui shed Service re ntly an educati on consul­ arti cles and cases, Heaton an edge to have actually Award . A graduate of BYU tant fo r Coopers & Lybrand. currently serves on the been on foreign soil." The with a bachelor's degree in A certified public accoun­ faculty research and devel­ EM BA graduates will return accounting, he went on to tant, Smith received an opment committee, the to th eir positions with a receive an MBA from associate degree from Boise entrepreneurship committee, new and valuable perspec­ Northwestern Uni versity. Junior College, bachelor's and th e career services ti ve on th e changing world and master's degrees from committee. marketplace. Brigham Young niversity, MSM Faculty Member s and a PhD from Stanford Receive Exxon Teaching Uni versity. In addition to Bryson Presents Paper Richar·d E. Cook Awards numerou s published works, in Greece Addresses MSM he coauthored an intermedi­ G1·aduates Marri ott School of Ma nage­ ate accounting textbook with Dr. Phil Bryson, MSM ment fac ulty members Dean K. Fred Skousen. professor of managerial eco­ The Co mpass of Life was Jay M. Smith , professor of Dt: Heaton has been a nomi cs, presented a paper to th e th eme of Ri chard E. accounting, and Hal B. professor at BYU since th e Co ngress on East-Wes t Cook's address to 797 Heaton, professor of finance, 1982, taking two years off Economi c Relations graduates of BYU's Marriott sponsored by the Helleni c School of Ma nagement. In Economi c Association hi s address at convocation December 19-20 last year in exercises held April 24, Thessaloniki, Greece. The 1992, Cook cautioned internati onal confe rence against worrying about attracted approximately 70 setting obj ecti ves that are scholars from countries too hi gh. "It has been my including Greece, the experi ence that the greatest United States, and th e regrets come from not form er Soviet Union. challenging one's self The pape1; entitled "The suffi ciently rather th an from Joint Venture in Soviet setting goals th at are too External Economic aggressive," he said . Relations," examined th e Recently retired from part of Soviet history when Ford Motor Co mpany, Cook leaders aspired to enhance served for 35 years in Hal B. Heaton, Jay M. Smith, and Dean K. Fred Skousen the country's economic

E X C H A N G E 27 performance by pursuing Ful bright fe llowshi p with the ment spending and decreas­ Commerce and Industry, and effecti ve ex ternal relati ons Cou ncil fo r Internati onal ing taxes in order to Daewoo Heavy Industri es. with Council fo r Mutual Exchange of Scholars at the discredit the Democrats. In Tokyo a meeting was Economi c Aid (CMEA) Research Center fo r Orton, who is in favor of a held with 25 LOS bu siness allies. Co mparati ve Economic balanced budget amendment, leaders, many of whom were According to Bryson, Systems in Germany and ' graduates of BY . Top ics during Mikhail Gorbachev's consecutively served as a discussed included the state tenure as Communist Party visiting professor at Marburg of internati onal bu siness chairman, " the basic need of Uni versi ty there. education in the United the stagnant Soviet economy Twice an exchange fe llow States and trade tension was to interact in a much at the Intern ati onal between Japan and the U.S. mo re producti ve way with Research and Exchanges The group also visited th e worl d economy." Board in East Berlin, several businesses, includ­ Gorbachev had noti ced th e German Democratic ing The Bunsha Group, rapid development of newly Republic, Bryson has also Coca-Cola, Nippon industri ali zed nati ons, espe­ served as a Humboldt Fellow Telephone and Telegraph, cially those in Asia. From hi s at th e Uni versity of Muni ch and the Kobe Fas hi on Mart. observati on it became appar­ and as a Humboldt Seni or Future travel plans fo r ent to him that the Soviet Fellow at the Free Uni versity Congressman Orton Dean Skousen include other Uni on must be integrated of Berlin. He is the author of parts of Asia, Europe, and into the world economy. numerous articles and said that we must change our Latin Ameri ca. papers on German and budget process and deal with Soviet economi c issues. a reali sti c budget. A magna cum laud e A graduate of BYU's Skaggs Holds Re tail graduate of the Uni ve rsity of J. Reuben Clark Law School, Fortnight Utah with a bachelor's Bill Orton is a member of the degree in economi cs, B1yson congressional Banking, BYU students were exposed earned a PhD in economi cs Finance, and Urban Affairs to the wo rld of retail manage­ from The Ohi o State Uni ver­ Committee. ment during Retail Fo rtnight, sity in Columbus, Ohio. held Fe bruary 24 to March 6 on campus. The event, spon­ Dean Skousen and sored by the MSM's Skaggs Representative Orton Other Faculty Me mbers Institute of Retail Manage­ Speaks to Manage m e nt Visit Far East ment, introd uced students to Dr. Phil Bryson Society Campus Chapter many of the country's major Last March, Dean K. Fred retailers thro ugh company In order to improve the Co ngressman Bill Orton Skousen, Chris Meek, John 01i entati ons, interviews, dis­ import/export structure and spoke February 24 to the Beck, Masakazu Watabe, cussions, and lectures from to further the economi c MSM Management Society and Lee Radebaugh traveled some of retail's top ma nagers. development of the Sov iet Campus Chapter. Hi s topic to Korea and Japan to Twenty retailers, includ­ Union, Gorbachev "encour­ was "Citizen Responsibility discuss the MSM's interna­ ing ordstro m, Barnes and aged enterprises to pursue to Hold Elected Representa­ tional emphasis and ways Noble, JC Penny, and cooperati on arrangements ti ves Accountable." the school could take adva n­ Wal-Mart, held info rmation with fo reign firm s, to create Orton stressed that citi­ tage of its students' foreign sessions and over 700 job joint ventu res, internati onal zens need to make certain language ex pertise. They interviews during the associati ons and organi za­ that elected offi cials conduct visited with alumni, mem­ two -week event. ti ons, and to become government acti vities consis­ bers of the business commu­ Jeff Wells, vice president in vo lved in CMEA programs tent with constituent desires. nity, and representati ves of of human resources at Toy's fo r development of science, He criti cized President Seoul National Uni ve rsity. " R" Us, was the featured technology, and producti on. " Bu sh's proposed 1992 bud­ The MSM is working with speaker during th e event, The paper details the pros get de fi cit of $500 billion Seoul National University addressing the school's and cons of such a strategy. saying, " We cannot survive on a fo rm al agreement that Executi ve Lecture Seri es on 01: Bryso'n has taught at year after year after year will promote faculty and stu­ "Successful Ingredients in BYU since 1988 and was with that kind of de fi cit. We dent exchanges. While in Retail Careers." Toy's "R" recently awarded continuing have to reverse it. " He also Seoul, the grou p also visited Us is a major recruiter of statu s. Prior to BYU, Bryson criticized past Repu bli can with representati ves of college graduates, hiring taught at the Uni ve rsity of fi scal poli cy, saying that it Lucky Go ld star; the Korea­ approx imately 800 annually Arizona fo r 21 years. He set a fin ancial course in the U.S. Economi c Co uncil, the fo r its nati onal management recently completed a 1980s of increasing govern- Korean Chamber of training program. ~

28 EXCHANGE BYU Army ROTC Leadership In addition, this year th e BYU Army yo ung men and women who leave BYU Excellence Program ROTC Ranger Challenge Team was prepared to be not only excellent mili­ named the Ranger Challenge ational tary leaders, but also civic, religious, continued from page 11 Champions. In its regional competition, and bu siness leaders who possess the BYU placed first in fiv e events and set warrior spirit. 00 records in four of those. In the two -mile with th e success of the BYU Leadership run, all nine BYU competitors finished NOTES

Excellence Program. BYU cadets are in the top 12, including th e first-, 1 Jeffrey R. Holland, President. "The Mi ssion among th e best in the nation, receiving second-, and third-place fini shes. of Brigham Young University." November 4, evaluation ratings after entering active Notwithstanding th e trophies, the 1981. servi ce of twice the national average. real successes of th e program are the 2 Cadet Co mmand Reg. 145-3.

MSM and University of Utah Host NAFTA Conference by William Kilmer lure with the U.S. He noted that, "A Total, Mexico's version of the Baldridge trade relationship has to pay attention Award Program, spoke on recent to the sensitivities of Canadians and improvements in the Mexican economy H E orth American Free Trade Mexicans or else it will fail .... It is and debunked the idea that "Mexico's TAgreement ( AFTA) was th e topi c imperative for Americans to understand contribution [to free trade] will be cheap of a conference held jointly by Brigham th e cultures and independence of its labor only." He said that often times, "In Young University and th e University of trading paitners." He also said that the the U.S., Mexico is talked about with Utah on January 23 and 24, 1992. The issue of globalization verses national either ignorance or aITogance." He conference, organized by Gerhard sovereignty will continue to be a prob­ added, "One way to [prevent this] is to Plenert of the Marriott School of lem as more free trade agreements are recognize that Mexico's contribution is Management and Steve Tallman of th e implemented. quality." He said that while many University of Utah's school of business, Dennis Tenney, of th e Utah Americans have focused on investment featured lectures from academicians, Commission for Economic Develop­ in Eastern Europe due lo recent revolu­ business executives, and government ment, spoke on the specifi c effects the tions th ere, "The real revolution is in officials as well as policy makers from trade agreement will have on Utah's Mexico-the quality movement." the United States, Canada, and Mexico. economy and th e opportunities that will Escalante spoke on the recent First-day sessions, held at th e be available for Utah-based companies. progress of th e Mexican economy, University of Utah, focu sed on business He highlighted th e benefit s currently showing that privatization is increasing issues effe cted by NAFTA. Dr. Alan accruing to Utah under th e present free and the country is making the move­ Ru gman, an economist from th e trade agreement. He noted that because ment from an economy based on low University of Toronto, was the keynote of the agreement, trade between Utah wages and natural resource exportation speake1: Dr. Rugman spoke on th e and Canada increased by over $206 to one based on quality manufacturing in evitability of NAFTA, saying, "The million in 1990, creating an additional and servi ces. He said that for Mexico, economi c logic of having an institution­ 4,000 to 5,000 jobs in Utah alone. "The issue of quality is an issue of sur­ alized trade and investment relation­ Later in the day John Huntsman J1: , vival .. . to promote total quality in ship for all of North America is so senior vice president of Huntsman Mexico is to contribute to national compelling, it will happen . .. . There Chemical, brought hi s experi ence in development." will be a formalized relationship among international trade relations to th e con­ Utah congressional representative th e three countries." ference. M1: Huntsman spoke on the Bill Orton was also a featured confer­ Noting benefits of the existing free­ reality that, "The world is getting smaller ence speaker. Orton, who is on the trade agreement between th e U.S. and [and] our economy must remain strong if House Foreign Relations Committee, Canada, Dr. Rugman demonstrated th e we are to continue to be competitive." focused on NAFTA legal and legislative ex pected benefits of extending th e Huntsman saw many reasons for issues. Orton came out in favor of the agreement to include Mexico. He also optimism about the U.S. econom y, not­ free trade agreement, saying that it dismissed current theories of U.S. eco­ ing that interest rates are down, the would allow free and fair trade through­ nomic domination over the other two trade defi cit is falling, and that we, as out orth America. He also gave a countries-Canada and Mexico. Americans, " know how to think and synopsis of the steps needed to imple­ Howeve1; he pointed out th at many, develop technology." ment th e agreement and outlined th e especially in Canada, fear having to Joaquim Peon-Escalante of th e supplemental legislation needed lo help harmonize their social system and cul- Fundacion Mexicana Para La Calidad retrain workers displaced by it. 00

EX CH AN GE 29 HfAlTHCARf Rf fORM Where do we go from here?

Mark J. Howard Robert J. Parsons

believe the present healthcare ealthcare ex penditures, which ! delivery system in the United States H accounted for less than 5 percent will be very short lived. Within th·e of the nation's gross national product in next three years, major changes mu st 1950, will consum e 14 percent of GNP take place if we are to survive. National this year; by som e estimates, that fi gure health insurance is not th e answer. Mark J. Howard, FACHE will ri se to as mu ch as 40 percent by CEO, IHC Hospitals of Central Utah Approximately 35 million individuals th e year 2030. These rising medical lntermountain Health Care, Inc. in the U.S. from ages of 18 to 65 who care costs are increasing health insur­ have no healthcare coverage, and ance premiums and forcing as many as many individuals living below the 37 million Ameri cans to ri sk going federal poverty level, are not covered without health coverage. Currentl y, at this time. bu sinesses spend an annual average of This is the direction I feel we should $4,081 per employee on family health take in th e United States: benefit s. While cost is most often cited as th e main problem facing healthcare, 1. The Medicare and Medicaid any future system must also address programs should be consolidated. the question of access to basic services Congressman Ron Packard (R-CA) Few of us realize that there are more for all Ameri cans and provide contin­ U.S. House of Representatives dollars spent on Medicaid each year ued quality of care. Washington, D.C. continued on page 32 continued on page 32

Congressman Ron Packard Roger N. Walker

ver the past 20 years, America's hile Ameri cans look north to Ohealthcare spending has skyrock­ WCanada for possible answers to eted. In 1970, we spent 7 percent of our U.S. healthcare systems problems, gross national product on healthcare. Canadians are anxious! y moving In 1992, that spending is expected to Robert J. Parsons through the next period of major reform reach 14 percent of GNP-over $700 Professor, Institute of Public Management in their own system. The drivi ng forces billion. Marriott School of Management are similar in both countries: increas­ Despite the high level of spending, ing difficulty of sustaining the costly howeve1; many people receive no health healthcare infrastructure, adding new benefits because they cannot afford to technologies, and ensuring equitable pay costly health insurance premiums. access all in a deteriorating fi scal At the same time, high premiums can environment. make it difficult for small bu siness American healthcare mi ght be char­ "'w owners to provide coverage for their acterized as a four-tier system: unin­ 0 >­ z employees. · sured, underinsured, fully insured, and ­

30 EXCHANGE

Howard continued healthcare or pay into a national not involved in health wars-vying program. for the latest and largest in new 3. Additionally, we must address cost technology. in the United States than on control through restructuring th e 5. To meet future healthcare needs, Medicare. Each state has different healthcare delivery and financing there must be adequate manpower. authorizations for what is and is not system. We need community care Utah, as an example, has long wait­ covered. I feel that we need universal networks where individuals can enter ing lists of qualified individuals access to basic healthcare benefits the system. With the consolidation of seeking admission to nursi ng for everyo ne, but we need to outline a Medicare and Medicaid , those who schools. Ironically, some areas in the single set of basic benefits for every­ do not have insurance would pur­ country are hav ing problems filling one. We cannot afford th e Barney chase healthcare on a capitated their nursing schools. Government Clark heart transplants or other hi gh­ basis. Payment to providers would be funds should be redistributed to tech services. Such services need lo negotiated within regulatory limits. areas of the United States wh ere they come from the discretionary dollar Cost controls would be met through can do the most good. side or from community fund raising. deductibles and co-pay ments. The 2. Next we must establish a pluralisti c health insurance system would have I know these are major changes that fin ancing system, combining private to be revi sed to have a single claim must take place, but all decisions that and government sources. All employ­ form with electronic transfers and th e impact the healthcare fi eld must be ers are going to have " play or pay." tort system wou ld have to be revi ewed through three basic criteria: Most states require bu sinesses with adjusted to encourage prelitigation access, cost, and quality. By changing 25 or more employees to offer health­ panels and arbitration. th e deli very system and reforming the care benefit s, while employers with 4. Another major change that must take Medicare/Med icaid administrative pro­ fewer than 25 are not required to do place is modificati on of the antitrust grams, antitrust laws, and malpracti ce so. This is causing a cost shift, and I laws. We mu st change these laws to laws, I feel that we will be able to meet feel th at businesses with fewer than fa cilitate cooperation and collabora­ th e future healthcare needs of all 24 employees need to either cover tion between hospitals so that we are Americans.

Packard continued also cost the federal government an quality of healthcare available to th e additional $200 billion a year: It is Ameri can public is already th e best in unlikely that Americans, who already th e world. Nobody would be willing lo that is as far as the co nsensus reaches. feel overtaxed, will agree to th e sacrifice that quality for th e sake of a A large gulf exists between those who dramatic increases that would be nationalized plan. We Am ericans value feel that we should improve on the necessary to fund a nationalized th e choice and quality th e present sys­ ex isting system and those who feel that system-nor do I believe we should ask tem delivers-we simply want to keep we would be better off with a national­ them to fund such a system. costs down and improve access. ized, Canadian-style system. Second, th e lack of agreement in Ultimately, the best solution li es in a For several reasons, I believe that th e Congress would make it nearly impossi­ market-oriented approach. Private sector answer li es in reform of our existing ble to pass something as radical as a initiatives such as malpracti ce reform healthcare system. First, establishing a "socialized medicine" bill. It is far and health insurance networking (where Canadian-style system in th e U.S. more probable that Congress will small firms pool together to purchase low­ would not only create new government eventually agree to reform our current cost health insurance) would help bring bureaucracies and restrict consumers' healthcare system. costs under control and expand access to choice of medical servi ces, it would Finally, and most important, the our current hi gh-quality system.

Parsons continued of unemployed and uninsured The first issue that must guide any Americans. A year ago, th e anticipated restructuring in the healthcare system 1992 agenda of the hospital industry is access; every person should have Thus, reform of the current health­ included issues like the DRG update, access to an adequate level of health­ care system"in the United States must hospital outpatient reform , and physi­ care. However, the definition of ade­ fo cus on the problems of access, quality cian self-referral. Few would have quate healthcare can vary wi th the of care, and cost-problems that are not predicted that healthcare reform in individual. For some people a very new, but which have reached a critical 1992 would include literally dozens of high level of care might be needed, point in light of a recessed economy, comprehensive national healthcare while less would be adequate for oth­ increasingly stringent insurance under­ bills, ranging from a modified tax strat­ ers. Basic plans should include a core writing practices, and growing numbers egy to malpractice reform. of key medical services and be supple-

32 EXCHANGE mented with other options for those Individual financial responsibility More preventative care-such as willing to pay for their choices of more implies that all people bear, to the vaccinations, pap smears, and prenatal expensive procedures. Families could extent possible, the cost of adequate care-need to be provided to at-risk opt for different coverage plans based health insurance, so that they have populations. upon their healthcare needs, financial access to the system. Finally, people A second issue to guide healthcare situation, and life cycle. Supplemental should bear the costs of their unhealthy reform is' the importance of returning to coverage should be available to those choices. Fairness demands that those the basic patients' rights pertaining to who choose to purchase it. who choose unhealthy behaviors pay quality care. These rights involve Furthermore, each person should, the cost of those choices. These patient information, patient choice, within his or her own means, share in lifestyle illnesses caused by smoking, patient decisions, and patient responsi­ the costs of healthcare-implying the alcohol, and drug abuse impose enor­ bilities. In other words, healthcare use of co -payments and deductibles. mous costs to the nation's health bill. continued on next page

Walker continued Summary of Similarities and Differences in Healthcare Delivery benefited from a system based on five Issue Canada United States key principles: comprehensiveness, universality, accessibility, portability, Differences and public administration. The insur­ ance plans that fund medical treatment Healthcare Model Regulatory- Economic system- are "socialized" on the basis that full High proportion of Equal proportion of universality and accessibility to com­ government funding government and prehensive services could only be private funds insured by society as a whole. There are two major outcomes: no uninsured or Degree of Decentralization Moderate, with high High, with patchwork underinsured population segments exist uniformity results in Canada, and a comprehensive set of services is available to all but the most Access Excellent-99 + % Good-90% remote locations. The net result is a population even healthier than that of Cost 9%ofGNP 12% of GNP the U.S. Canada's answer has been a Chevy in every driveway versus a User Pay Minimal Increasing Cadillac in some, a Chevy for most, and a bike or nothing for the rest-and, so Health Insurance Provincial government Mostly private, some far, it has worked very well. plans, federal funding moves to government However, the combination of help funding Canadian cost containment strategies and central planning have resulted in Managed Care Being implemented Well-established "rationing" of some services. For exam­ (Institutional) ple, one MRI unit to service a popula­ tion that might have six MRI units in Technology Rationalized Oversupply the U.S. This has generated pressure to create a second tier of services for those Liability Limited litigation High exposure, costly who can afford to pay directly. As Canadians now search to resolve Competition Interdependence Antitrust environment these issues and maintain the viability of their system, the focus is shifting Similarities from healthcare to health, and from provider to consuming public. This par­ Major Concern Maintaining a high quality of health and healthcare, adigm shift ineans establishing clearly while containing spiraling healthcare costs defined health goals based on identified societal needs and collaborative subse­ Other Similarities Delivery mechanisms quent multisector (health, education, Historical parallels housing, transportation) initiatives. Structural parallels Role definitions for both institutional Legal and ethical issues continued on next page

EXCHANGE 33 Parsons continued through alternati ve delivery systems. reform deals with costs and greater The consumer also has the right to emphasis on producti vity and effi ciency providers should respect the prefer­ choose his or her healthcare plan within within the system. The current ineffi­ ences of patients in determining quality a framework of increased use of man­ cient use of resources includes unnec­ care interventions and desired out­ aged care. Managed care has great essary care, duplication of services, comes. For example, demographics potential to control healthcare costs, oversupply of healthcare facilities, mal­ indicate that we now have a much more and yet provide access to quality care. practice issues, and reimbursement educated, health-conscious, fitness-ori­ Managed care brings the patient directly concerns. For a wide range of clinical ented consumer. These preferences and into the decision-making process and procedures, roughly 20 percent of the choices will dictate key healthcare offers basic first-dollar coverage. A money we now spend could be saved issues of the future. Focusing on recent survey by the Group Health with no loss in care quality. The respon­ patients and service will be essential Association of America found that HMOs sibility to use economic incentives to for success in the next decade. Time added 2.2 million members in 1991-a achieve desired outcomes with the least and convenience are also critical for 6 percent rate of growth. Managed care expenditure is shared by individuals, consumers, and a healthcare system will continue to grow in the nineties. healthcare providers, insurance compa­ will need to respond to these needs The third issue to guide healthcare ni es, and the government.

Walker continued is that Canadians will achieve a higher medical procedures, professional level of health and continuing indepen­ expertise, and required medications and individual providers will change dence in their own homes and commu­ and health supports whenever treat­ dramatically. Rationalization of services nities while maintaining reasonable ment is required. Funding is still an and massive reallocations of healthcare access to a seamless spectrum of ser­ issue, but structure of the system has ex penditures will also occur. The hope vices: leading edge technology, quality become the target. !ID

Center for International Business Education and Research

OR the past two years the Center broad objectives: guage courses to support its global Ffor International Business 1) Develop academic programs for MBA track. Education and Research (CIBER) has students to cope with the new interna­ BYU has added an international developed a joint effort between tional business enviro nment. business track to its MBA program. The Brigham Young University and the 2) Cultivate a more internationally track will include specialized language University of Utah to increase student, fo cused fa culty at both universities. emphases in Japanese, Korean, Span­ faculty, and business community pre­ 3) Establish a research agenda con­ ish, German, and Russian. Some track paredness to meet the challenges of centrating on international business courses will be taught by a bilingual an increasingly competitive global and U.S. business competitiveness. faculty member and a visiting professor business environment. 4) Develop specific programs that from a foreign university. During the fall Under the co-directorship of BYU's increase U.S. business competitiveness. 1992 semester, the school will intro­ Lee Radebaugh and the U of U's Jim To support pursuit of these objec­ duce a class on Korean business taught Gardner, the center was established tives, the center draws on such major by Professor Kim of BYU's Korean as a strategic alliance under a federal resources as both universities' language Language Department, Professor Chris grant. Although both schools had and area studies programs. The part­ Meek of the MSM Organizational previously employed their unique ners have used such resources to culti­ Behavior Department, and Professor international business strengths vate ideas, establish programs, and Tak Seon-Back of Korea's Won Kwang independently, the CIBER grant has develop core competencies. University. In addition, BYU is devel­ developed strong synergies between For the 1992-1993 academic year, oping an Honors Asian-culture class. their business schools and has supplied CIBER has established three major Both universities will also open their the necessary financial support. focus areas: core international business classes to Through the' center, the two universities 1) Increase interdisciplinary acade­ both business and nonbusiness stu­ have developed joint programs and mic programs . To further develop acad­ dents with the hope of expanding shared ideas and teaching methods, emic programs, both universities will student interest and knowledge of the while maintaining independence add depth and breadth to their business field. The two schools also plan to in pursuing their own strengths and curriculums. For example, the exchange host CIBER directors to teach directions. University of Utah is establishing more one international business class, The center has established four international business and foreign lan- thereby benefitting students and faculty

34 EXCHANGE with the ex periences and insights of the two universities, the Department of Busi ness-community support for the both uni ve rsiti es. Commerce, the Small Business center has been significant. Organi za­ 2) Foster research programs to Development Cente1; and the World tions that have made valuable contribu­ strengthen U.S. business competitiveness. Trade Association. Programs designed tions of time and effort include: the Several planned center confe rences will in conjunction with th ese organi zations CIBER Advisory Co uncil, the Distri ct bui ld on BYU/UofU research. Through include conferences on language acqui­ Export Cb un cil of Utah, and the World th e co nfe rence series, greater access to sition, competitiveness in the software Trade Associa ti on. With continued sup­ uni versity research will be offered to industry, and a six-week program on port from these organi zations, the fed­ U.S. businesses. Co nference topics will ex port development strategies. The lat­ eral government, a nd others, CIBER is in clude environmental issues of the ter conference is a joint program with assured of keeping up with the acceler­ orth Ameri can Free Trade Agreement, the Small Business Development ating pace of international business and the role of language in bu siness, and Center designed to help local Utah preparing students, fac ulty, and bu si­ global strategies in hi gh technology. bu sinesses develop overseas markets nesses with the tools to compete on a 3) Develop cooperative programs with for their products. global level. ~

Faculty Insights

Ned Hill-Bird Watching Lee Radebaugh-Acting Radebaugh enjoys acting in li ve theater because each ni ght is different. As a 12-year-old boy scout, Ned Hill, Lee Radebaugh, KPMG Peat Ma1wick " Li ve drama is unpredictable," he says, professor of finance, discovered the Professor of Accounting and director of "because yo u don't know which lines sport of bird watching while earning a the Center for Internati onal Business, yo u are going to miss, how the other bird study merit badge at summer married into a "dramatic" fam ily. His actors are go ing to do, or how the audi­ camp. He began earnestly watching wife's parents have been involved in ence is go ing to react. The challenge of birds again when he came back to Utah drama most of th eir adult li ves; they helping the aud ience think and have a fiv e years ago. built the Hale Centre Theater in South good time is really a rush." He has seen 250 of the 390 birds Salt Lake soon aft er their retirement. record ed in Utah. When he goes to They started a summer th eater in Dale Wright- Oil Painting seminars all over the country he takes Grove1; Utah, and two years ago opened the Hale Theater in Orem. Dale Wright, depa1tment chair of the As soon as the th eaters opened, Lee's Institute of Public Management, became wife and children began performing in interested in oil painting when he took plays. Lee took a small part in one of an rut class in junior high. After a long the productions a few years ago and got " bit by the drama bu g," he says. He had a major part in " Hold Onto June" during the fall of 1990. A year later he began playing the minister in a fireside play called "Are the Meadow­ larks Still Singing." He still plays that the opportunity to watch the birds in the area. Co nsequently, he has been bird wa tching in the U.S., Germany, Denmark, Sweden, Austri a, Switzer­ land, Afri ca, and South Afri ca. hiatus he resumed painting in 1980. Each December he takes prut in th e When asked what motivates him to paint, Chri stmas Bird Census, where he spends he says he does it because he feels com­ almost 24 hours in an area around Provo pelled to do so. He specializes in Western recording al1 the bird activity. The cen­ landscapes and enj oys painting subjects sus is taken in the U.S., Canada, and around Provo and in Jackson, Wyoming. Mexico so reseru·chers can use th e infor­ He works on several paintings at a mation to study migratory patterns. part every other Sunday night in the time and tri es to paint on location as Hill says he enj oys birding because Orem theater and enj oys working with much as he can. He has completed fiv e "every time yo u go out there's the possi­ hi s wife and two children, who are also pi eces in the past yea1; but has not par- bility yo u'll see something exciting." in the cast. ticipated in any ex hibits. ~

EXCHANGE 35 Letters

EXCHANGE a Disappoint­ zi ne whose lead essay only reprint the Stocks article in advice, but also spiritual ment If Not a Surprise summarizes recent articles its May Management Memo, counsel. Both are necessary; in more prestigious business whi ch is distributed to its both are important. Knowing You've sent me several unso­ periodicals: Business Week, members. that MSM brings in qualified, licited issues of EXC HANGE The Harvard Business Also, David Saari, experienced, and good peo­ since I fini shed the MOB Review, The Wall Street representing American ple to speak at such impor­ program in 1989. I have Journal, Fortune . I can read Cyanamid's Agri cultural tant events strengthens my perused th em carefully, the HBR and the Journal all Research Division in confidence in the future of loo king for something new or by myself. Don't waste my Princeton, NJ, indicated by th e MaITiott School of Man­ informative-for Total time. phone that he enjoyed the agement and its graduates. Quality Journalism, if you -Todd Mckay Morley Kevin Stocks article in the -Jeff H. Singer like. EXC HANGE has disap­ Stanford, CA spring EXCHANGE and had Class of 1990 pointed if not surprised me. outlined it on their E-Mail at The only articles of value to work . He normally receives me have been th e sporadic, Stocks Article Great two or three requests for Articles Need Statement sketchy presentations of fac­ Overview of TQM copies on such postings, but Introducing Authors ulty research. Otherwise, th e this time he received over magazine's function is just I am a 1988 graduate of the 60 requests for copies.] I was very enlightened and that of Swimwear Illustrated: School of Management with impressed by the articles both are glossy marketing a degree in information man­ authored by Kevin Stocks pam phlets posing as periodi­ agement. I am currently a A Bit of Irony ("Total Quality Manage­ cals. Nice pictures, but not system analyst for the ment") and Rodney A. I have really enjoyed reading so much to read. University of Texas Health Hawes, Ji: ("Remember Who the EXC HANGE Magazi ne. Eloise Bell could teach Science Center-Huston. You Are") in the spring 1992 You are doing a great job. yo u more about Total Quality As financial funding for the issue of EXC HANGE. Just a bit of irony-note [in Management than Kevin uni versity is cut, the need Howeve1; since I personally the attached copy] that Stocks. She could tell yo u for quality improvement do not know who they are I pages 3, 4, 5, and 6 of the that quality in prose is the increases. The dean of the wo uld have appreciated a excellent article on Total same as quality in cars: it is medical school believes in brief statement introducing Quality by Kevin Stocks satisfying customers' wants. the total quality approach them . ... I noted that such [have not been cut and sepa­ Your customers are educated and has created teams a statement was included in rated]. I'm sure that my copy readers, and these want clar­ throughout the school to th e book review by Dr. was the only one where it ity, novelty, and substance. implement it. I am a member Wanda A. Wallace. Is it pos­ happened. Ms. Bell could also warn of a "Total Quality Improve­ sible to do the same for all -Wayne Hansen you that "The only way to ment" team and am enjoying authors in future issues? BYU Placement parody Mormon culture is the opportunity to influence -John N. Gardner, CPA to describe it exactly as it is: the way "the system" works BYU Financial Services it parodies itself." If self­ here. Hawes' Article Eloquent parody is the intention, Kevin Stocks' article is and Practical [Editor's note: We're embar­ EXC HANGE succeeds bril­ a great overview ofTQM, rassed that introductions li antly. Its covers' stiffness and I have shared it with I recently read an article were not included with the and gloss recall the same colleagues on my TQM team from the spring 1992 ... authors' pictures. You can qualities in the stereotypical as well as with others. I EXC HA NGE . The article was plan on their being included BYU coed's mane. (It is a appreciate the timely infor­ titled " Remember Who You in the future.] natural fact that Utah County mation always presented in Are" and was written by purchases more hairspray EXC HANGE . Rodney Hawes, Jr. per capita th'an any other -Tina]. Thompson As I started reading it I Let us hear from you. cosmeti cs sales region in the Houston, TX thought to myself, "Great, Letters should be addressed U.S.) And what's between the another Rah-Rah-You-Can­ to Editor, EXC HA GE, 588 covers matches what's under [Editor's note: The American Do-It speech." I quickly TNRB, Brigham Young Uni­ th e hair. Otherwise, Physical Therapy Associa­ discovered I was mistaken. versity, Provo, UT 84602. EXC HANGE is a flop. I have tion in Alexandria, VA, M1: Hawes eloquently pre­ We reserve the right to edit no use for a business maga- requested permission to sented not only practical for length and clarity. 00

36 EXCHANGE Class Notes

1935 1 9 7 5 Aaron D. Kemiard, MPA nati onal controller for Motorola Oakley S. Evans, BS '35, is Stephen R. Baker, BA '75, is '79, began serving a four- year Semi conductor Products a retired presid ent of ZCMI and currently a vice president with term as Sa lt Lake County Company. Robert speaks fluent retired vi ce presid ent of J.C. Citibank, in New York City. He Sheriff in January 1991. Sheriff Mandarin Chinese. Penn ey-New York , wh ere he al so holds an MBA from No1th­ Kenn ard had form erl y been with served as director of corporate westem. He and hi s wife, Tamara, th e Salt Lake City police for 20 J. Scott Jamison, BS '81, development. He has al so live in Princeton Jct., New Jersey. years. He and hi s wi fe, Sandra, manages hi s own food di stribu­ served as president of the live in Salt Lake City. tion busin ess. He, hi s wife, Mormon Tabernacle Choir: He David Mansius, BS '75, and Li sa, and daughte1; Kri sti , and hi s wife, Mabel, resid e in hi s wife, Sharla; live in Vancou­ 1980 resid e in Orem, Utah. Salt Lake City. ver, Washington. He is th e owner Jonathan Gardner, MPA of HobbyTown USA, a retail '80, was chosen to receive th e Burke Richman, BS '81, is 1954 store in Clackamus, Oregon. Department of Veteran Affairs' a finan cial planner for IDS Ron Salisbury, BS '54, National Award for Professional Financial Servi ces in Pocatello, own er/presid ent of The Restau­ 1 9 7 7 Achi evement. Gardner accepted Idaho. He and hi s wife, Ann, rant Busin ess, Inc., a very Richard D. Condie, MBA th e Arthur S. Fleming Award on live in nearby Chubbuck, successful Southern California '77, was recently named senior May 14, 1992. The award is Idaho. restaurant chain. His original vice presid ent of marketing and given to federal employees who restaurant is located right in th e sales at th e E.J. Brach Corpora­ demonstrate outstanding work Jeffrey B. Rock, MBA '81, middle of th e area wh ere th e tion. Richard joined Brach from achi evement. Gardner is direc­ is a foreign servi ce offi cer for recent L.A. riots occurred. Ron M&M/Mars, where he worked tor of field support for the south­ th e U. S. State Department. He currentl y resid es in Newport as director of marketing over ern region of th e Veterans is currently stationed at the Beach, CA. th e snack segment. Health Administration in Ameri can Embassy in Bangkok. Washington, D.C. He and hi s He speaks Thai and Mandarin 1967 1978 wife, Jerelyn, live in Chantill y, Chinese. H. Kurt Christensen, MBA Kevin Call, MAcc '78, was Va ., with th eir four children. '67, was appointed last made a partner in th e public Walter E Simmonds, MBA September as associate director accounting firm of Altschule1; Tim W. Layton, MBA '80, '81, is a mechanical engin eer of executive education at North­ Melvoin, and Glasser in has been president and CEO of for IBM Corporation in western University's J.L. Kellog Chi cago. Kevin is also currently Medeco Security Locks, a divi­ Manassas, Virginia. His MBA Graduate School of Manage­ presid ent of th e Management sion of Hillenbrand, for fiv e speciali zation was operations ment, where he has been teach­ Society's Chicago chapter. years. Medeco is a manufac­ management. He al so received ing business strategy and policy turer of hi gh-security locks and a bachelor's degree in manu­ sin ce 1982. Dr. Christensen Mark Howard, MAcc '78, electroni c access-control facturing engin eering from received hi s PhD from Colum­ BS '78 Accounting, is devices. He and hi s wife, BYU in 1979. bia University. assistant di strict counsel for the Nancy, also a BYU graduate, Internal Revenu e Servi ce in live in Roanoke, Virginia. They 1 9 8 2 1 9 7 3 Salt Lake City. Mark also gradu­ are th e parents of fi ve children. Alison Davis-Blake, MOB Richard Mann, BS '73 ated from BYU's J. Reuben '82, BS '79, li ves in Austin, Accounting, is an audit senior Clark Law School in 1981. Gary S. Richards, MBA '80, Texas, with her husband, with th e LDS Church Auditing recentl y relocated to Mi chael. She is an assistant Department, where he has 1 9 7 9 Bartl esvill e, Oklahoma, with professor with th e University of worked for six years. He holds Cy "Butch" Howington, IBM Corporation. Gary is an Texas, Austin, Department of certificates as a CPA and as a MPA '79, is presid ent of account executive with th e Management. She received her CIA (that's Certified Internal Howmar Technology, a company Phillips Petroleum account. He PhD in busin ess administration Auditor). He has travelled on involved in international has been with IBM for 12 years. from Stanford in 1986. auditing assignm ents to Brazil, management development. He and hi s wife, Kath y, are the Samoa, and Hawaii . Ri chard is He is also currently assisting parents of four children. Timothy Johnson, MOB also a freelance writei: In three start-up of Medi cal Dev ice Co. '82, and hi s wife, Terry, cur­ years he has sold 135 arti cles, He resid es in Raleigh, North James R Scott, MBA '80, hi s rently live in Houston, Texas, primarily for publication in Carolina. wi fe , Janee, and th eir seven­ where he is a human resources computer magazin es. Hi s wife, year-old son currently resid e in manager for Amoco Production Ramona, started law school thi s Moira Johnson, BS '79, has Las Vegas, Ne vada. Jim is Company. August. They are th e parents of been a finan cial systems analyst accounting manager for EG&G two children. 'The Manns reside with th e Hechinger Company, a Special Projects, Inc., a Depart­ Dianne Kenney Lanning, BS in Roy, Utah. large retail chain of do-it-your­ ment of Defense contractor. '82 Accounting, is plant con­ self home improvement centers, troll er for th e Del Monte Corpo­ 1974 for four and a half years. 1 9 8 1 ration in San Jose, California. John Monahan, BS '74, is Formerly she was with Bell Robert Choules, MBA '81, She is married to Rod Lanning. vi ce presid ent and director of Northern Research in Ottawa, BS '79, and hi s wife, Sharon, stores with Liberty House in Ontario, Canada. Moira res id es are currently located in Chung Terry Stimson, MBA '82, Honolulu, Hawaii. in Mitchellville, Maryland. Li, Taiwan, wh ere he work s as BS '80, is serving as president

E X C H A N G E 37 and part own er of a small famil y offi ces in Latin America to new ly opened Good ies Galore Craig and hi s wife love Florida. business in Las Vegas, Nevada, coordinate purchasing a ll sup­ cand y store in th e Uni ve rsit y They have a daught er named that owns and operates th e plies, mate ri als, and equipment. Ma ll in Orem, Utah. Before Shelby Lyn ne. Craig Ranch Golf Course and is Scott resides in Murray wit h opening th e store in April of developing surrounding real hi s wife, Mary, and th eir three thi s yea1; Marc worked for fi ve Matt H eninger, MBA '88, is estate. Terry is married to the children. years with Anderson Consulting working in th e Phoeni x area for form er Ma1jorie Hansen. They as an in formation systems con­ CIGNA Healthplan of Arizo na. are the parents of fiv e children. Andy Bleggi, BS '85, and hi s sultant. He and hi s wife, Betsy, He worked for a few years as a wife, Anne, li ve in Southern and th eir two children resid e in finan cial analys t before mov in g 1983 Pines, North Carolina. He is Salt Lake City. Lo hi s current position with th e Richard Hanks, BS ' 83, al so th e entrepreneur president and Utili zati on Analysis Depart­ a graduate of Northwestern CEO of Se li g Manufacturing Denise Kemper Houghton, ment, where he is a superviso1: University, wh ere he received Company. MBA '87, forme rl y wi th APM, He and wife have two children an MBA in 1986, is currentl y has recentl y joined the MacNeal and live in Gilbert, Arizona. vi ce presid ent of revenue man­ Dale Wegkamp, EMPA '85, Hospital in Berw yn, Illinois, as agement for Marriott Hotels, and hi s wife, Li s.a, currently director of nursing. She studied 1989 Resorts, and Suites in Washing­ reside in The Woodlands, Texas. nursing a lso at BYU and is a Notto Lee Jensen, BS '89 ton , D.C .. He and hi s wife, Dale is a special agent for th e registered nurse. Finance, was recently hired as Eli zabeth , li ve in North Federal Bureau of Investigation a territory supervisor for Potomac, Maryland. in Houston . Brent Jones, BS '87, is Premi er Industrial Corporation currentl y admini strator for th e Lo cover the Portland-Vancouver Gary Lew, BS '83 Finance, 1986 Heritage Park Care Center in area. He currentl y resides in has been appointed general Robert Heaton, MBA '86, Roy, Utah. Brent received an Beaverton , Oregon. manager of the Corporate Trust BS '86 Accounting, is pri cin g MBA in 1991 from Idaho State and Agency Group of Bankers manager for Target Stores, Inc., University. 1990 Trust Company for the Asia­ in Minneapolis, Minnesota. He Ma H siaoping, MBA '90 , is Pacific Rim region. Gary cur­ and hi s wife, Deborah, li ve in 1988 assistant general manager of the rently resid es in Vall ejo, Brooklyn Park, Minnesota. Essie Anno, MBA '88, is cur­ Beijing Asia Satellite Communi­ California. renlty working as sales manager cation Technologies Co., Ltd., a K. Brent Keller, MAcc '86, for British Airways in Ghana, telecommunications manufactur­ Richard Moss, MBA '83, is BS '84 Accounting, is a pub- Burkina, Faso, Togo, and Benin. ing firm. She li ves in th e Haid­ currentl y bank relations man­ 1i c accountant currently work­ The job in volves ex tensive trav­ ian Di stri ct of Beiji ng, China. ager for Saturn Corporation, a ing as a Thiokol Co rporation elling to th e U.K. and within subsidiary of General Motors, supervi sor. He also owns hi s Africa. Essie has a lso started a Ivan Sartori, MBA '90, in Spring Hill, Tennessee. He is own construction company. He real estate company for wh ich works in th e automobil e indus­ in charge of banking relations and hi s wife, Ann, live in she is th e business analys t. try as a production and plan­ and special fin ancing arrange­ Pleasant View, Utah. ning consultant for Tenneco, ments and has been with Saturn Jana Stringham Buchanan, Inc., in Spain. Before receiving for a little over two years. Linda M. Palmer, MPA '86, MBA '88 , is currenlty working hi s MBA, he graduated with a Ri chard was formerly with the is currently serving as assistant for Franklin International as a bachelor's degree in engineer­ First Ame ri can National Bank to th e president of LOS product manager, whi ch in cludes ing from th e Catholic University 111 ashvill e. Business Co ll ege in Salt Lake responsibility for prod uct of Rio de Janeiro in 1984. City. She is responsible for pub­ development and management 1984 li c relations and special pro­ of th e Production Graphics 1 9 9 1 Robert E. Black, Jr., EMPA jects and oversees th e support Department. She is marri ed to Annie George, MBA '91, '84, and hi s wife, Lila, li ve in staff. She also is in volved with Jim Bu chanan, a nati ve of Ten­ recentl y joined th e Gezt Corpo­ Littleton, Colorado. Robert is fund raisin g. She li ves in nessee. Their daughte1; Haylee, ration in Singapore as a market­ currentl y serving as activity Murray and is "absolutely was born in March 1990. ing executive. She speaks four manager with the U. S. Bureau thrilled" to be teaching her LOS languages: English, French, of Reclamation in Denver. ward 's Primary Sunbeam Class. J eff Chancey, MBA '88, is a Ma lay, and Ma layalam. systems engin eer for General Roy Johnson, JD/MBA '84, Mark Richardson, BS '86, Motors, Harrison Divi sion, in Murray Low, MOB '91, BS is an assistant professor at th e and hi s wife, Linda, presently Lockport, New York . Hi s posi­ '85, is a consultant with th e Walker School of Management li ve in Dublin, Ohio. Mark is tion involves design and devel­ Nova tions Group, Inc. He helps at Appalachian State University. finance director for Cigna Health opment of an air conditioning companies work through organi­ He and hi s wife, Mill a, li ve in Plan of Ohio, Inc., in Co lumbus. system for a specific ve hicle zational change and redesign Boone, North Carolina. He platform. He was prev iou sly a and th e strategic use of human received hi s PhD from the 1987 sales engineer, responsible fo r resource management. He and University of North Carolina, Kathleen Strom Burton, BS divisional sales to Japanese hi s wife, Nadin e, li ve in Orem Chapel Hill,,in 1990. ' 87, graduated with a degree in automakers. He and hi s wife, and had th eir third child in information management. She is Claire, have two girl s, Mallory August. 1985 currently a programm er/analys t and Hope. Scott Archibold, EMPA '85, for the LOS Church in Salt Lake Adilson Parrella, MBA '91, currentl y work s for th e Materi­ City. She and her husband, Craig Clawson, MBA ' 88, has been promoted to general als Management Departm ent of James, li ve in Layton , Utah. is working in sales and market­ manager of WordPerfect Brazil. th e LOS Church. Hi s assign­ ing for a small medi ca l supply Ad i Ison li ves in Sao Paulo, ment is intern ational purchas­ Marc L. Horne, MBA '87, is business, Contract Medi cal Brazil with hi s wife, Elaine, and ing, working with 13 Church th e entrepreneur behind the Services, in Clearwate1; Florida. their son. ~

38 EXCHANGE Spotlight On ...

Susan Hiltbrand received her MBA, with emphasis in marke ting, from the Marriott School of Management in 1987. She received a BS in fashion merchandising in 1983, also from BYU. After completing her MBA, Susan (then Susan Jenkins) joined the Broadway Department Stores in Los Angeles, California. She worked for nearly two years as a n area sales manager, during which time she was honored with a Broadway Outstanding Area Sales Manager Award. In July 1989 she became an associate buyer with th e company. In that position she was respon­ sible for analyzing business trends and planning promotional strategies fo r a $19 million men's personal furnishings business. In December of 1989 her career took an interesting turn when she became a contract nego­ tiator for the Jet Propulsion Labo ratory (JPL) in Pasadena, California. She planned, negotiated, and administered major government equipment contracts and acted as liaison between NASA, Cal Tech General Counsel, JPL technical management personnel, and prospective vendors. Since leaving JPL in December of 1990, Susan's career has taken another interesting turn in a very different direction. She is currently employed as a Creati ve Services Department project director at Disneyland Resort-Anaheim's Marketing Division. She is acti vely involved, on both a creative and administrative level, in the marketing strategy for Di sneyland Park, the Di sneyland Hotel, and Walt Disney World. She is manager and art director for over 30 projects on an on-going basis. This November, Susan will celebrate the first anniversary of her marriage to Jeff Hiltbrand, a senior manager with Deloitte and Tousche. They reside in Mi ssion Viejo, California, with their two children, Amanda (5) and Trevor (3). Susan is acti ve in LDS church service, serving currently as Laurel advisor and previously as homemaking leader and spiritual li ving teacher in the Relief Society. In the limited time available between juggling the demands of her fa mily, caree1; and church service, she enj oys cooking, reading, craft work, and travelling. As a family, th e Hiltbrands enj oy getting away to the mountains on long weekends for fi shing and backpacking.

LeRoy K . Speirs is spotlighted for his generous contribution to the Marriott School of Management as chair of th e Entrepreneur Founders Board . After graduating from hi gh school, Mr: Speirs joined the military and became a B-17 bomber pilot, flying missions out of England. He was married while still in the service, and after returning home became a salesman for the ABDi ck Company, one of the forerunners in duplication processes. Mr. Speirs has been involved in varied entrepreneurial ventures. He ran a bookstore and book club fo r LDS Church members in the Los Angeles area. He also was instrumental in orga­ nizing a bank that generated a $35-million-a-year mortgage brokerage business. He founded a successful credit insurance firm , Security Protection Company, Inc., which he sold last year. Presently, M1: Speirs operates his own fin ancial consulting firm. In addition to hi s business activities, Mr. Speirs is acti vely involved in his community. From 1960 to 1964 he served on the San Gabriel City Council. He has been president of the San Gabriel Valley Council of the Boy Scouts of America, president of Area Four (covering California, southern Nevada, and Arizona), and a member of numerous national Scouting com­ mittees. His latest assignment was as chair of a foo d service group that fe d 35,000 Scouts at th e Camp A.P. Hill Jamboree in Virginia. He is also a member of th e board of directors of Etti e Lee Homes for Boys and the VISN Inte1faith Council of Southern California. An active.supporter of the Marriott School of Management, Mr. Speirs has contributed gener­ ously of both his time and his means. As a member of the Entrepreneur Founders Board, he has shared insights and ideas that have helped the school address real-world issues. Mr. Speirs admits, "My greatest accompli shment was marrying my wife." He and his wife, Mitzi, are celebrating their 49th wedding anniversary this year. They have fi ve children, 18 grandchildren, and two great-grandchildren. He has served in various capacities in the LDS Church and presently is a counselor in his stake's young adult branch.

EX C HAN G E 39 Virginia Wright is recognized for her achi evements in th e field of health care administra­ tion. Virginia graduated from the Marriott School of Management's Master of Public Administration Program, with emphasis in health care administration, in 1981. After graduat- ing she spent a year as a marketing consultant before joining the Cottonwood Hospital Medical Center in Murray, Utah, as assistant administrator for strategic analysis and planning. While th ere she also served as acting director of the Department of Development Services. In 1986, Virginia left Cottonwood Hospital and became a manager at th e Intermountain Health Care (IHC) central office in Salt Lake City. In 1990 she became th e director of strategic planning and marketing for IHC Hospitals of Utah County. Presently she is assistant adminis­ trator of planning and marketing for IHC Hospitals of Central Utah. Virginia is an active speaker and author. She is a form er member of th e MSM Alumni Board and has been a guest MSM lecturer on aging and health care environment, planning, and mar­ keting issues. She has also spoken to groups such as the American Society on Aging and has co-authored articles that have appeared in th e Journal of the American Gerontology Association and the Proceedings of the Health Care Conference of the Association of Consumer Research. She is a member of the American Hospital Association Society for Hospital Planning a nd Marketing, th e AHA Society for Ambulatory Care Professionals, and th e Ameri can Society on Aging. She has also served as treasurer of the Utah Society for Hospital Planning and Marketing. Virginia is married and is the mother of four son s. Her hobbies include cooking, weaving, reading, skiing, and traveling.

International graduate Young Hack Song is a man with tru e international ex perience. He was born in Seoul, Korea. After high school he studied law at Yon sei University in Seoul. But before he was able to take the bar exam, he was called up to serve three years in th e Korean Army as a signal corps interpreter. Two wee ks after his discharge, he left on a two-year LDS mission to Pusan, Korea. For three years following his mission, he worked in the banking and life insurance industri es before deciding to continue his education in the United States. Young Hack So ng attended BYU- Hawaii in 1982-83 to learn English and to adjust to American college life. From there he enrolled in the Marriott School of Management, where he received a master of organizational behavior degree in 1986. In 1990 he graduated with a PhD in organizational psychology, also from BYU. His doctoral dissertation is entitled "Characteri sti cs of Korean Organization and Management: A Descriptive Study of Korean Corporations." While at BYU, he taught a "Culture and Management" course to MBA and undergraduate students. He also taught Korean in BYU's Korean Language Department, at the Missionary Training Center, and for the FORSCOM Military Language Refresher Program. Young Hack is currently a fellow in the faculty of business administration at the National University of Singapore, wh ere he teaches classes such as "socio-psychological foundations of management" and "applied psychology at work" to first- and second-year business students. Young Hack sees his time in Singapore as an opportunity to broaden his perspectives. He will be conducting cross-cultural research on Singapore, Malaysia, Thailand, Indonesia, and Japan. Eventually he hopes for a tenure position teaching international management or organi­ zational behavior at an American university. His research interests also include the manage­ ment of research and development in an international environment- i. e., how cultural differences influence innovation . Adjusting to the new system and culture in Singapore has offered its challenges to Young Hack, his wife, Yeon Han, and th eir three children. Having spent several years in Provo, Young Hack and hi s family miss BYU football and basketball and Utah's mountains, snow, and dry weather. [ID

40 EXCHANGE w A L K I N H I s p A T H

Jesus Christ, the Light of the World, was intimately acquainted with the rocky hills of Nazareth, the shining blue waters of Galilee, the narrow streets of Jerusalem. In Source ofthe Light, you 'll walk the pathways of the Holy Land in a journey through the life of the Savior. Climb to the top of Mount Sinai. See the hills of Bethlehem in the season of the Savior's birth. Walk along the shores of the Sea of Galilee. A companion to the best- selling Witness ofthe Light, this stunning volume is filled with timeless, full-color photographs and text drawn from the scriptures, ancient texts, and early Jewish traditions. Source ofthe Light brings to life the events of the Savior's ministry and gives added vision to the words of the scriptures. Husband-and-wife team Scot Facer Proctor and Maurine Jensen Proctor traveled exten­ sively in the Middle East to capture in photography and prose the feeling that lingers there. Photographed in Israel, Egypt, and Jordan, Source ofthe Light eliminates as much of the modern as possible, taking you on an unparalleled journey through the land where Christ lived.

he modem entrance etail ofolive-oil to the tomb of lamps burning TLazarus in brightly in Bethany is the night on twenty four steps part ofan ancient above the original olive press near chamber. Ajler the the city of great miracle here, Bethlehem. 711e the chiefpriests and Lord gives mod­ Pharisees took em revelation to council about Jesus, interpret the saying, "What do we parable ofthe ten Source ofthe Light: A Witness do? for this man virgins: "They are and Testimony ofJesus Christ, the doeth many mir­ wise and have Savior and Redeemer ofAll , acles?" They saw His received the truth, miracle as a threat and have taken $39.95. Available in October. that would attract the Holy Spirit for Roman attention, Deseret Book ® their guide, and Available wherever Deseret Book and they feared losing have not been Publications are sold. Or by calling their nation. deceived." 1-800-453-4532 BRIGHAM YOUNG UNIVERSITY J . WILLARD AND ALICE S . MARRIOTT SCHOOL OF MANAGEMENT 730 TANNER BUILDING PROVO, UTAH 84602