Marriott Alumni Magazine

MARRIOTT ALUMNI MAGAZINE

Networking growing your next job

Active vs Passive Investing

Annual Report

MARRIOTT SCHOOL OF MANAGEMENT | BRIGHAM YOUNG UNIVERSITY | SUMMER 2002 Left to right, front: Kevin D. Stocks, Hal B. Heaton, Ned C. Hill, W. Steve Albrecht, and Lee T. Perry. Back: David J. Cherrington, Grant R. McQueen, and Greg L. Stewart. the 2002 outstanding faculty awards were presented to five marriott school faculty members who have distinguished themselves by making outstanding professional contributions to the school. the highest distinction given by the marriott school, the outstanding faculty award, was granted to hal b. heaton, denny brown professor of business management. grant r. mcqueen, professor of finance, was honored with the teaching excellence award; greg l. stewart, associate professor of organizational behavior, received the research award; kevin d. stocks, professor of accountancy, was honored with the citizenship award; and david j. cherrington, professor of organizational behavior, was given the dean’s special service award. CONTENTS

alumni exchange trends speeches at work special feature

Is there anything employees can do to insulate themselves from company layoffs?

responses from beating the odds: navigating in a networking: marriott school 34alumni active vs passive 10 topsy-turvy world 14 growing your 32 annual report investing By W. Steve Albrecht next job By Steven R. Thorley By J. Melody Murdock

NEWS

2 deans’ message Agency, Accountability, and Our Annual Report Faculty recognized for building entrepreneurship By Ned C. Hill, W. Steve Albrecht, and Lee. T. Perry abroad, directing leadership project, and setting superb teaching and publishing standards. 20 school news School partners with Utah Information Technology 26 alumni news Association and adds information systems major. Alum named International Executive of the Year. New alumni board members, alumni spotlights, and Class Students assist in Olympic festivities, prepare for the first Notes. annual European undergraduate business program, and earn recognition for excellence in academia.

Cover illustration by Neal Aspinall | Inside cover photo by Mark Philbrick that is relevant to the affairs entrusted to In this issue of the Marriott Alumni her that the principal would desire to Magazine,we provide you with our annu- have), and to account (to maintain and al report that shows how we used our provide the principal with a true and resources this past year, how much our complete account of money or other endowment increased, what the nature of property that the agent has received or our financial inflows and outflows were, expended on behalf of the principal.) student demographics, faculty publications, As deans of the Marriott School, we and updates on all our advisory boards. consider ourselves agents to all of you We hope you will take time to read and who provide financial and other support study our annual report. If, after reading the for our programs, faculty, and students. report, you have concerns or suggestions, We take our stewardship responsibilities please feel free to email one of us at seriously and work hard to use our [email protected] resources wisely, to avoid any conflicts of [email protected] [email protected] We want to be responsive to our friends and stakeholders. We have been told by Church leaders Agency, Accountability, that BYU is a “Zion University” and a school that “educates for eternity.” and Our Annual Report President John Taylor prophesied, “You will see the day that Zion will be as far w. steve albrecht, ned c. hill, ahead of the outside world in everything and lee t. perry pertaining to learning of every kind as we are today in regard to religious matters.” We believe the Marriott School has a divine destiny. We also believe the Marriott eturning and reporting is one of the interest or waste, to protect confidential School is one of the most critical elements R most important principles we can information, and to earn your trust and of the Zion University and that we can and teach our children. A job or assignment is confidence. We view our fiduciary duty as are becoming one of the truly great busi- not complete until we have reported back. one requiring utmost loyalty and faith. We ness schools in the United States. Whether the assignment is home teach- understand both the eternal and moral Our students are superb. Our faculty is ing, visiting teaching, homework, or lawn nature of stewardship and accountability. excellent and getting better. Our curricula mowing, until we have reported back to Because of the kindness of our alumni are as good as that of any school in the the person who made the assignment, the and friends, we have much to be grateful United States. The support of our alumni job is unfinished. for. You have been most generous and and friends is high and increasing. The Lord emphasized the concept of kind in sharing your resources and time We appreciate you as stakeholders and reporting back many times in the scrip- with the school. We have more than five partners. It was Karl G. Maeser who tures. For example, in Doctrine and hundred individuals who serve in adviso- described BYU as “the parent trunk of the Covenants 104:12 it states, “That every ry capacities to the Marriott School great education banyan tree.” With your man may give an account unto me of the and its programs. We now have an help, the Marriott School will become an stewardship which is appointed unto him.” endowment of nearly $65 million, even more important branch of that Similarly, state and federal laws although most of it is restricted for cer- banyan tree. require that where individuals act as tain types of expenditures such as schol- We hope you enjoy reading the Annual agents of others (principals), those arships or professorships. Report. m agents have fiduciary duties of obedience While we are not in the same league as (to act in the principal’s affairs only as the Harvard Business School, that has an authorized by the principal and to obey endowment in excess of a billion dollars, all reasonable instructions and direc- or even major state schools, most of tions of the principal), diligence (to act whom have endowments that exceed $100 with reasonable care and skill in per- million, our endowment and resources forming the work for which she is are growing rapidly—allowing us to com- employed), to inform (to use reasonable pete with the best business schools much efforts to give the principal information better than we could previously.

2 MARRIOTT ALUMNI EXCHANGE

A forum for alumni to share ideas about challenges facing Marriott School graduates. is there anything employees can do to insulate themselves from company layoffs? layoffs add stress. You may decide to impact on you. Monitor leading indica- Marriott Alumni find a new, more stable job. If not, these tors inside and outside the company that tips may help: may require some adjustments on your Magazine 1. Follow the principles of being an behalf before conditions change and it’s excellent employee: hard work, integrity, too late. summer 2002 dedication, innovation, etc. Insulation Network. It’s important to establish against layoffs starts the day you begin meaningful relationships inside and Ned C. Hill, Publisher work. outside your company. These relation- 2. Involve yourself with new projects ships must be nurtured according to the Joseph D. Ogden, Managing Editor and initiatives. Troubled companies often desired or actual depth of the association. J. Melody Murdock, Editor change strategic direction and create new These relationships will open a variety of projects that are more in line with the new opportunities. Byron Bronk, Copy Editor strategy. Higher priority is placed on the Jeremiah Simpson, Art Director new projects and their staff. David Tietjen Jenny Stathis, Assistant Editor 3. Volunteer to perform the tasks Program Management/Marketing Wade Hansen, Contributing Writer nobody wants to do but must be done. TRW You will become much more valuable. MBA ’88 Nina Whitehead, Contributing Photographer 4. Don’t change departments. The new Rachael Haney, Contributing Designer person is always the first to go. PARTICIPATE: The best insulation may be your ability Send us your response or question for a Published by the Marriott School of to find another job quickly. Keep your future issue. Management at Brigham Young University, resume updated. Get feedback from indus- Provo, Utah. Copyright 2002 by Brigham try experts in your current organization. Next issue: How do you motivate under- Keep in touch with your business contacts. performing employees? Young University. All rights reserved.

Elton Orme Due date: 1 July 2002 All communication should be sent to Applications Expert Length: 100–150 words Marriott Alumni Magazine

TenFold Corporation Each submission should include: 775 Tanner Building MISM ’00 • Name Brigham Young University • Phone number or email entirely—no. We live in a time that • Graduation year and program Provo, Utah 84602-3187 downsizing occurs with increasing fre- • Work position or title Telephone: (801) 422-5083 quency, and there are too many compli- • Company name and location Fax: (801) 422-0501 cating factors (changes in assignments, Email: [email protected] management, company structure, econo- Email: [email protected] my,etc.) that can quickly and dramatical- Fax: (801) 422-0501 For a free subscription to Marriott Alumni ly affect your career. However, there are three basic things Or send to: Magazine online, click the subscribe link you can do to enhance your chances of Marriott Alumni Magazine at marriottmag.byu.edu survival: 775 Tanner Building Constantly and visibly demonstrate Brigham Young University The views expressed in value to the company. Each week you Provo, Utah 84602-3187 Marriott Alumni Magazine should be able to answer the following are those of the various authors and not question: “What have I done of value this Contributions may be edited and will not week?” be returned. Because of limited space, necessarily the Marriott School. Anticipate trends and assess their some contributions may not be used.

summer 2002 3

By Steven R. Thorley Illustrations by Nicholas Wilton

Nothing in the economic corner of our culture More than 50 percent of American house- holds now have direct or fund-based elicits more collective fascination than the stock holdings in stocks. Corporations continue to move away from the defined benefit pension plans of our parents toward market. Media attention, conventional wisdom, defined contribution systems in which individuals make critical long-term parental advice, folklore, and scandal all seem to investment choices. The standard of living while in retirement for a large segment of work overtime when it comes to “the market.” the U.S. population now depends on how people choose to invest. U.S. equity markets at the dawn of the twenty-first Individual investors face a number of important strategic investment decisions, including basic asset allocation—how century are unique in terms of the broad much of their total portfolio to put in stocks. The growing availability of low- participation of individual citizens— cost equity index funds introduces another strategic decision: whether to invest both the wealthy and middle class. actively or passively.

summer 2002 5 Active investing is broadly defined as tion. Economic theory defines the fair recent data, may cause investors, and thus the process of researching and picking the price as the best possible estimate of the market prices, to overreact to news. best stocks to buy, or hiring a profession- per-share value of the corporation. Fair Predictable overreaction allows for a mar- al fund manager to do it for you. Implicit does not mean the correct price after the ket timing strategy of buying on bad in this process is the assumption that fact—just the best possible guess one can news—purchasing stocks whose prices some stocks are better holdings than oth- make from the available data. If a particu- have recently dropped. ers and that a diligent search can ferret lar stock is underpriced, diligent investors Another assertion is that all but a few them out. Indexing or passive investing will initiate buy orders that will quickly investors neglect certain obscure stocks. presents an increasingly popular alterna- push the price up to its fair value. This assertion motivates momentum tive to active investing. Index-funds Similarly, the selling of overpriced stocks strategies: buying stocks whose prices include all stocks in proportion to their by informed market participants will pull have started to rise. If investor irrationali- capitalization in the market. All stocks in the price down. ty—in the form of exuberance, fear, or the target market are included—there is The controversial Efficient Market ignorance—is pervasive enough, stocks no attempt to distinguish between good Hypothesis concludes that there is no will sometimes be mispriced and the mar- and bad investments. point to security analysis because any ket inefficient. stock is priced as well as it can be. Unusual At this point, the true-blue efficient ACTIVE AND PASSIVE STRATEGIES performance, good or bad, is purely a market theorist may start backpedaling ACTIVE OR PASSIVE? IN MOST OF LIFE’S matter of luck. Active buying and selling and admit that many investors may be ENDEAVORS THE ANSWER IS PRETTY OBVI- of stocks by individuals will only run up irrational, but there are probably enough OUS. When did you last read a self-help brokerage commissions and waste time level heads to eliminate stock mispricing article extolling the virtues of a passive and energy. Turning to a professionally when it occurs. The proportion of ratio- personality, or a professional article managed mutual fund is even worse, nal market players needed to make the advocating a passive approach to your according to the hypothesis, because of market efficient isn’t clear; it may not business affairs? However, the logic and the fees required to pay well-compensated even require a majority. “More economic arguments for passive investing are experts to waste their time in an environ- mumbo-jumbo!” responds the broker or less obvious. ment where the outcome is a mostly a active fund manager. “Capitalism is based To make matters more complicated, matter of luck. on rugged individualism, hard-earned professional advisors and financial market Try this line of reasoning next time you knowledge, and market research—the spir- pundits have little incentive to promote talk to your broker or active fund manag- it of entrepreneurship! Someone has to be the passive alternative in the investment er. You’ll either get stunned silence, as in, the first to detect the mispricing of a stock management debate. The rare voices of “What kind of economic mumbo-jumbo and take advantage of it. Why not me?” passive advocates such as Newsweek’s Jane is that?” or, hopefully, a well-thought-out At this point, the market theorist is Bryant Quinn and The Wall Street counterargument. Opponents of the likely to backpedal a bit more and admit Journal’s Jonathan Clements are often Efficient Market Hypothesis note that this drowned out by the sincere but potential- academically fashionable idea is based on ly biased advice of brokers, fund the premise that people are “rational util- managers, commission-based financial ity-maximizing agents.” If you have had planners, online trading firms, stock any firsthand experience with people (or exchanges, and the financial media who happen to be a person yourself), the sell advertising time to all of the above. assertion that people are rational may be a These groups all make less money when bit difficult to swallow. In fact, the grow- an investor chooses to index. With this ing economic discipline of behavioral anti-indexing bias in mind, the following finance is based on the proposition that two arguments present the pro-indexing, investors are predictably irrational. or passive position. For example, stock markets might be persistently inefficient because many par- ARGUING EFFICIENCY ticipants continue to confuse a good com- THE MOST COMMON ARGUMENT FOR PAS- pany with a good investment. As any SIVE INVESTING IS THAT STOCK PRICES IN experienced investor knows, if other HIGHLY LIQUID AND WELL-REGULATED MAR- investors already anticipate a highly prof- KETS ARE INFORMATIONALLY EFFICIENT. itable company’s future, the stock price Economists who study the effects of com- will reflect that belief and the return to petition in financial markets theorize that new investors will be mediocre at best. all stocks will have a “fair” price that Other human frailties, like the tendency moves in tandem with relevant informa- to place too much weight on the most

6 MARRIOTT there may be some mispricing in the stock moot. As it turns out, the Efficient Market game is one in which the profits of all market after all. But the marginal benefits Hypothesis is neither the most straight- players sum to zero. of good research are probably no greater forward nor the most convincing argu- Under the no-fee-to-play condition, than the marginal costs. And since we ment for indexing. you should play the free-throw game— have brought up capitalism, he or she and trade actively in the stock market— might also point out that an efficient ARGUING A ZERO-SUM GAME even if your self-assessed basketball talent equity market is actually an assumed pre- ASSUMING THAT THE STOCK MARKET IS is marginal. But what if we add a twist? requisite. Fair security prices promote NOT EFFICIENT, SHOULD YOU BE AN ACTIVE Instead of actively participating in the social welfare in our economic system by INVESTOR? If stocks are occasionally mis- game, you can take the average score of ensuring that capital is allocated to its best priced, someone with the skill and exper- those who do. Passive investing is and highest use. As Rex Sinquefield only tise required to identify the inefficiencies just such a twist in the investing game half-jokingly proclaimed: “I’ve polled might do well. Consider other skill-based because a total-market index fund con- everyone I know, and the only people who activities—a free-throw competition in tains all stocks, and all stocks have to be think that markets are not efficient are the basketball, for example. Suppose that held by someone. Cubans, the North Koreans, and the active you get a dollar for every shot out of ten This often ignored but unassailable fact fund managers.”1 that goes through the basket, and there is has important implications. Chief among This efficient markets debate is enter- no fee to play. This is a conservative them is that before accounting for the taining, but in the end few individual assumption with regard to the stock costs of active investing, the market index investors understand or buy into the effi- market because there are “fees” to return over any time period is equal to the cient markets argument. The invisible active investing, like transaction costs and average performance of all investors dur- hand in financial markets is just too hard tax inefficiencies. ing that time period. The index used must to see. One could cite an endless array of Like any analogy, the free-throw com- be a total market index, and the average statistical studies of stock market efficien- petition has its strengths and weaknesses, investor performance must be calculated cy—possibly the most empirically but one important characteristic of this on a dollar-weighted basis, but these are researched question in all of economics. analogy is that most players in the game technical details. The important point is The hard evidence indicates that the stock will make at least some money. This is a we have met the market and the market is market is reasonably efficient; fund critical characteristic, because the stock us—the collection of all individual and returns in excess of the general market market is a “positive-sum” game in the institutional investors. from period to period are almost wholly, sense that investors do, on average, enjoy While investing is a positive-sum game, although not completely, random. returns greater than the time-value of active investing is a zero-sum game with Active management performance is their money or interest rates. In contrast, respect to the alternative of indexing. mostly, although not entirely, a function sports betting and other forms of gam- Your ability to outperform the indexing of luck. However, the debate may be bling are “zero-sum” games.2 A zero-sum alternative—be better than average— depends on someone else being below average. Someone has to buy the stock you want to unload at a higher than justi- Active management fied price, and sell the stock you want to buy at a bargain. Don’t believe the financial media when they suggest that every- performance is one is selling a certain stock. On any given day, there are exactly as many shares bought as sold. The fact that half of all returns have to mostly, although be below the average return seems pretty straightforward, but what about all the other considerations that market not entirely, a observers seem to ignore, like transaction costs, taxes, and risk? Although transaction costs are low and getting lower all the time, thanks to online matter of luck. trading and the decimalization of price quotes, the point remains that active investors trade more than passive investors, so transaction cost considerations will always favor indexing.

summer 2002 7 able on thousands of individual stocks, including financial statements, market trends, management competence, and industry structure. When investors hire out these research activities by buying professionally managed mutual funds, they typically pay fees of 1 to 2 percent of money under management. Full-service brokers charge similar fees for stock picking advice through higher commissions. Back to the basketball free-throw analogy,there are a lot of costs—transaction costs, taxes, risk, and research and management fees—to shooting the ball instead of watching the game and taking the average. Using conservative estimates of all active investing costs, one has to be in the top 30, not just the top 50 percent, of all investors in order for active management to pay off. If we could tabulate the performance of all individual and institutional investors, we would find that about two- thirds underperform total market index funds each year. There never has been and never will be a year when more than half of all active investors outperform the market-wide index. There never has been or will be a year when more than half of all NBA teams have a winning season. Both claims are mathematically impossible. Taxes? Passive management is tax-effi- Anything less exposes the investor to So if the market is inefficient, active cient compared to active investing diversifiable risk that he or she could have investment management can pay off, but because the IRS defines a trade as a tax- avoided. As a practical matter, thirty only for a minority of investors. To be in able event. Outside of tax-deferred stocks is probably adequate diversifica- that minority you must have lower trans- accounts, such as 401ks and IRAs, capital- tion. But it’s hard to argue that an active action costs, better information, more gains taxes are due every year as stocks are fund with a few stocks is less risky than an accurate valuation techniques, more regu- bought and sold under active manage- index fund with all stocks. latory freedom, or some other competi- ment. Indexing defers capital-gains taxes Transaction costs, taxes, and risk con- tive advantage. One can easily identify the until the investment is liquidated for considerations all seem to favor indexing. competitive advantage of true insiders. sumption purposes during retirement. Still, the most significant “cost” to active Arguments could also be made about Risk? William Sharpe received the 1990 investing compared to indexing may be the competitive advantages for some Nobel Prize in economics for proving, research time and effort. Successful institutional investors, including hedge among other things, that the only perfect- investors know that identifying the best funds, pension funds, investment banks ly diversified portfolio is the capitaliza- stocks to buy requires substantial time and their wealthy clients, and perhaps tion-weighted portfolio of all stocks. analyzing the large amount of data avail- even mutual funds.

8 MARRIOTT Identifying a competitive advantage management expertise and valuation strategies at academic and professional seminars that individuals have in the marketwide are routinely taught to students who seek around the world and is frequently cited in investing game is very difficult. For employment in the financial sector. The Wall Street Journal and other major example, the assertion that there are other financial publications. small investors who are even less sophisti- ABOUT THE AUTHOR Thorley earned his BS in mathematics in cated than oneself ignores the fact Steven R. Thorley is a professor of finance at 1979 and MBA in 1982 from BYU and his that nonwealthy investors as a group com- the Marriott School and a Chartered PhD in financial economics in 1991 from prise only a small fraction of the total Financial Analyst. He has published the University of Washington. He recently market—about 10 percent in terms of numerous articles on financial markets and returned to the Marriott School from acad- dollars invested. investing in both academic and profession- emic leave as the interim research director Mutual funds that invest on behalf of al journals. His research has been presented for Analytic Investors in Los Angeles. nonwealthy individuals comprise another 15 percent of the market. Thus, to earn higher-than-average returns and beat the index, one has to outperform much more than individual investors and mutual There never has fund managers.

CONCLUSION been and never THE LOGIC FOR INDEXING IS EVEN MORE PERSUASIVE IF YOU BELIEVE THE STOCK MARKET IS INEFFICIENT. If the stock mar- will be a year ket is inefficient and active investing is a skill-based activity, then individual investors who try to actively manage their portfolios will consistently lose when more than to professional players with competitive advantages. Although shooting hoops may be fun, half of all active if there are professional players on the floor, simply watching the game and taking the average score will almost always earn you more points. m investors out-

END NOTES 1 Rex Sinquefield, Schwab Institutional perform the Conference, San Francisco, 12 October 1995. 2 The zero-sum game logic and other analo- gies in this article are not meant to suggest that active investing is morally equivalent to market-wide gambling. The important but sometimes sub- tle distinctions between legitimate investment management and gambling from an LDS per- index. spective are discussed with all business students as part of the ethics curriculum. Active

summer 2002 9

by w. steve albrecht painting by thomas luny

ogether with you, I watched with strong family is far more important than experiences becomes increasingly difficult T horror and sadness the tragic events anything we will ever do at work. because they usually don’t have deadlines of 11 September 2001. My heart goes out A number of years ago, I had a memo- or timetables like our job responsibilities to all the victims, their families, and rable conversation with a student of mine and other commitments. their loved ones. I have also watched the in the MBA program at Stanford. I asked We have to be proactive to make family tremendous negative affect those events him what he was going to do when he and the gospel top priorities—anchoring have had on the economy. Nearly the graduated. He answered that he was our lives on things of eternal worth. Our entire world is now in a recession. The going home to take over the family busi- greatest happiness comes from being with terrorist acts, combined with technologi- ness—the Almond Rocca Company. our families, performing service, and liv- cal advances and globalization, are Today, he is president and CEO of that ing gospel principles. We should never let causing the world to change faster than company. I thought at the time how lucky anything—work, personal hobbies, friends, ever before. this young man was—his father handed or even church—come before family. Today’s business environment is topsy- him a very profitable company. But then turvy with declining ethics, decreasing job I realized that we are all blessed beyond Strategy 2— security, and increased social and business measure because our Father in Heaven keep nimble and problems. Yet, there are more opportuni- has so much to offer each of us as His maximize options ties than ever before. To help Marriott children. Doctrine and Covenants 84:38 One of the reasons Heavenly Father sent School graduates navigate and maintain says, “And he that receiveth my Father us to this earth was to see if we could momentum in this fast-paced business receiveth my Father’s kingdom; therefore make good choices. A prerequisite to world, I offer four strategies: 1) have a all that my Father hath shall be given making good choices is having freedom. sense of value and purpose beyond work, unto him.” Let us never forget what is In fact, it is the ability to make choices 2) keep nimble and maximize options, 3) really important in life. that gives us freedom. In this fast-chang- add value every day, and 4) avoid self- I look back on my life, and while I have ing world, we must do everything possible defeating behaviors. had a wonderful career and hope to have to maximize our options and choices— many more productive years, what has hence, freedom. Although we live in a free Strategy 1— given me the most joy has been coaching country and have few, if any, externally have a sense of value and my son’s baseball games, attending my imposed constraints, many of us lose or purpose beyond work daughter’s clogging competitions, fish- limit our freedom by choices we make. Fortunately, with our knowledge of the ing, being in the mountains, and spend- When the future is uncertain, as it is gospel, it is easy to have a purpose beyond ing time with family. Prioritizing these today, it pays to our jobs. We know that we are much more types of than workers—we are children of God and have the potential to become like Him. We also know that the family unit is the only enduring organization, and that building a maintain a broad range of options. your life. Brigham Young said,“We might says, “The rich ruleth over the poor, and Option theory rewards flexibility. ask, when shall we cease to learn? I will the borrower is servant to the lender.” The following recommendations will give you my opinion about it; never, Live guilt free. It is impossible to feel help maximize options—keeping you never....We shall never cease to learn, guilty and remain happy. I don’t believe nimble and ready to act. unless we apostatize from the religion of we can ever reach our potential, have free- Build a good reputation. People with Jesus Christ” (Brigham Young, JD 3:203). dom and peace of mind, or be happy if we tarnished reputations lose options. This Maintain good health. When you lose are harboring guilt. We cannot live in sin loss of options can affect both family and your health or become addicted to harm- and be happy. professional life. In Arthur Miller’s play, ful substances or habits, you lose freedom. These five activities—building a good “All My Sons,” a son sees his father cheat- Doctrine and Covenants section 89 con- reputation, becoming a life-long learner, ing in the business world. When con- tains a promise about these health options maintaining good health, preserving finan- fronted, his dad responds, “Son, every- if we live according to the Word of cial freedom, and living guilt free—will body does it. You have to cheat to be suc- Wisdom. In verses 18–20 it states: “And all bring you choices and opportunities in the cessful.” The son replies, “I know dad, but saints who remember to keep and do future that others won’t have and will allow I thought you were better than everyone these sayings [meaning maintaining good you to act quickly when opportunities else.”This father lost options with his son. health and following the word of wis- come your way. Losing professional options can be just dom], walking in obedience to the com- as damaging. I know a woman who mandments, shall receive health in their Strategy 3— devoted thirty-seven years to a corpora- navel and marrow to their bones. And add value every day tion—thirty-four of which were honest. shall find wisdom and great treasures of In the business world today, the time During her last three years, she started knowledge, even hidden treasures; And focus is shorter than ever before. embezzling and eventually stole $686,000. shall run and not be weary, and shall walk Organizations used to focus on annual When caught, the company took her and not faint.” performance—how much profit they home, cars, retirement account, and most Preserve financial freedom. We live in a earned in a given year. They now focus of her other assets—recovering about world in which everyone borrows. For more on quarterly and even monthly or $400,000. She lost her reputation for hon- every net saver in the United States, there daily performance. As the time focus esty and the respect of her friends and are approximately nineteen net borrow- becomes shorter, managers tend to make was sentenced to serve one year in a fed- ers. Almost every day in the mail, we get short-term decisions to appear more eral prison. She is now out of prison but solicitations from companies wanting to profitable. As a result, employees start to must make monthly restitution payments extend our credit. They use glowing terms be treated more like assets that can be of $333 to the company and $540 to the and phrases about financial freedom, but bought and discarded than as individuals IRS. If she misses one payment, she vio- what they really want is for us to enter who must be invested in and nurtured. lates her parole and goes back to jail. She into financial bondage. To be successful in this environment, lost options. When we take debt upon ourselves, we employees must find a way to add value to Both these examples teach us that we lose freedom and options and the ability their work every day. It is no longer “what will have many more options in the future to act quickly and independently because you did for me yesterday” that counts; if we build a good reputation and name. someone else tells us how to spend our rather, it is “what you’ve done for me As it says in Ecclesiastes 7:1 “A good name money. If we are encumbered with too today.” When employees stop adding is better than precious ointment.” much debt, we may not be able to change value to their employer, that is at least as Become a lifelong learner. With the fast- jobs, move, make a wise investment, or even great as the amount of their pay, their job paced changes we are experiencing, the to serve when called upon by the Church. is at risk. knowledge you learned at BYU probably If we want to be happy and successful There are many ways to add value. won’t be relevant very long. You must get in the future, we must work hard to Employees can develop some expertise or as much education and learning as you maintain our financial freedom. There is skill that others don’t have, work harder can throughout something very comforting—even spiri- than others, have a better personality and tual—about living well within our means. disposition than others, have better cus- Many scriptures warn us that tomer service skills than others, or learn debt takes away our free- and adapt to change faster than others. dom. For example, Employees who add the most value Proverbs 22:7 have jobs they truly enjoy.

12 MARRIOTT Strategy 4— tors of success in the workplace and even at them and say, “You dirty, rotten crook, avoid self-defeating behaviors in the family is the ability to set priorities you stole money.” You see, we judge these So far we have considered three proac- and follow through with them. When we people by their actions; they judge them- tive success strategies—maintaining fail to establish priorities, we let ourselves selves by their intentions. If we want to be a sense of purpose and value beyond be driven by others like floating logs being successful, we must not let the gap work, maximizing options and keeping tossed to and fro by the currents of a river. between our intentions and our actions nimble, and adding value every day. These Setting and maintaining priorities will become too wide. We also must be strategies are only part of the formula become even more important in the careful not to judge others too harshly or for happiness and success—the other future as we juggle voice mail, email, pager give ourselves credit for more than we are part requires the avoidance of self-defeat- mail, fax mail, land mail, and all other really doing. ing behaviors. I have watched such behaviors destroy the careers and lives of wonderful and talented individuals. Examples of self- defeating behaviors include, but are not limited to, the following: self-pity, lack of humility, inability to set and maintain priorities, selfishness, and sufferance from the “intent” syndrome. Self-pity. No matter how talented and blessed, some people can’t seem to avoid falling into the self-pity trap. They feel types of correspondence and communi- In conclusion, some current business Heavenly Father and society have dealt cation at work and in our personal lives. writers believe that with all the uncertain- them an unfair deck. Everyone else seems Selfishness. I know a man who, because ty and problems in the world it will be to have a happier family, better job, more of his selfishness, lost his family, his job harder to be successful and happy in the money, or better looks and health. Self- (several times), and his friends. He is future. I disagree. With the right kind of pity is harmful but is particularly prob- lonely because he doesn’t know how to preparation and the Lord’s help, we will lematic in the business world. It is Satan’s think about anyone beside himself. No be able to navigate and maintain momen- tool and primary way to induce discour- matter how talented or educated we are, if tum in this topsy-turvy world, finding agement—leading to hopelessness and we can’t be a team player and let others success and happiness along the way. With unproductivity—which is deadly when receive credit, we will not be successful. education and the knowledge of who we you need to be adding value every day. Indeed, selfishness is a sure-fire way to fail are and what is important in life and by Fortunately, there is a quick remedy for in the business world. maximizing options, adding value each this problem—service. Serving others The “intent” syndrome. People judge day, and avoiding inhibitors of success, helps divert attention from personal themselves by their intentions and others the changing world we face presents great problems. I know a man who suffers from by their actions. For most of us, our inten- opportunities. m a severe wound he received in Vietnam. tions are much better than our actions. Instead of feeling sorry for himself, he I intend to get up earlier, work harder, eat About the Speaker spends every Sunday afternoon rocking less, exercise more, and be a better father W. Steve Albrecht is the Andersen LLP alumni crack cocaine babies in the hospital. It and husband. None of us is as good as we professor of accountancy and associate dean of gives him a perspective that his problems think we are, but we’re probably not as the Marriott School. His areas of expertise really aren’t that great and gives him a bad as other people think we are. include accountancy, auditing, fraud, and personal finance. He has published more than sense of fulfillment. We limit ourselves When we judge ourselves by our inten- eighty articles in professional journals. In much more by what we think we can’t do tions, we rationalize our shortcomings August 2001, he received the Karl G. Maeser than by what we really can’t do. and give ourselves more credit than we Distinguished Faculty Award, BYU’s highest Lack of humility. The very moment we deserve. We also tend to judge our col- faculty honor, for excellence in scholarship and cease to be humble, we start on a road that leagues and others more harshly than we teaching. Albrecht received a BS in accountan- makes us less valuable to others, less will- should and ourselves too leniently. In cy from BYU in 1971 and an MBA and PhD ing to listen and learn from others, and addition, we tend to do less at work and at from the University of Wisconsin at Madison in less fun to be around. And, as I said home than we think we are doing. 1973 and 1975. This article is a culmination of before, if we aren’t continuously learning, One of my research specialties is fraud. several of Albrecht’s recent speeches. we limit future options. When you talk to someone who has com- Painting: Details from “A Brigantine in Full Inability to set and maintain priorities. mitted fraud and been caught, they usual- Sail in Dartmouth Harbour” by Thomas Luny (1759–1837). We all know what is important, yet we still ly say something like “I intended to pay procrastinate. One of the greatest predic- that money back—I really did.” We look

summer 2002 13 growing your next job

By J.Melody Murdock, editor Illustrations by Neal Aspinall For nearly two decades, Eric Olsen was solidly employed as a manager in the high-tech sector. But, last year his employment streak ended when he and 1.7 million other Americans were laid off.1

It took Olsen several weeks, after the family activities, Ashby has kept her jobs spend a lot of time networking. He pink slip arrived, to recognize the critical professional relationships intact while says most of the hiring managers he has importance of maintaining a career growing a new network of contacts as a worked with at Motorola already have network. “I shortchanged myself while I part-time, freelance writer. candidates in mind for openings. “They was employed by not interacting with as “A key to networking is developing are usually people they have met through many people as I could and should solid mentoring relations with superiors an informal or professional network,” he have,”he says. and good working relationships with notes. Taylor believes networking can help Hitting the want ads and Internet job colleagues,” says Ashby, a Marriott School applicants get past barriers. “It will not boards in search of a new position, Olsen MBA graduate. “Those relationships can guarantee you the position, but it may was getting nowhere. Then something continue to be nurtured after leaving help you get on the list of candidates and clicked. “I realized that networking was your place of employment or exiting provide quick feedback on your chances,” the only technique that yielded any the workforce.” Taylor adds. results,” says Olsen, a Marriott School Job security has become an oxymoron Growing an informal or professional business management graduate. for many in today’s business environment. network doesn’t happen overnight. Like a While relearning how to network Unemployment is at a five-year high. garden, it begins with planting seeds in didn’t come easy, Olsen’s efforts And, most workers will change jobs at fertile soil. eventually led to new contacts and least ten times before retiring.2 As a several offers. “At first, networking felt result, more business professionals are PLANTING SEEDS like I was exploiting my friends,” he learning that networking is a solid long- As Olsen discovered, it’s best to grow explains. “I was concerned about term career investment strategy. It is your network of contacts before you find sounding more like a salesman than a more important than ever to grow, yourself unemployed. Taylor calls this the peer. I got past that when I saw how nurture, harvest, and share the fruits of a “counterintuitive nature of networking,” willing most people were to help. I strong network. because it requires building a network learned it’s important to be genuine and when you don’t think it’s needed. Taylor show appreciation for any leads offered.” GROWING A NETWORK illustrates this point by telling about Although Tina Ashby is not out of a Experts estimate more than 60 percent of his former manager, who effectively job, she also understands the value of managerial level jobs are filled by word networked for more than fifteen years. networking. After devoting twelve years of mouth.3 Jared Taylor, a corporate “Whenever he had a project to work to the finance industry, she chose to be a recruiter for Motorola, Inc., in Phoenix, on, he would contact his friends in the stay-at-home mother. In addition to her agrees that those who find their optimal industry and solicit their assistance,”

summer 2002 15 explains Taylor. “He would also ask them to meet new clients and strengthen Taylor recently saw how being involved if they knew certain experts in the field existing client relationships.” Although it in professional associations increases and then invite them to work on the requires an active approach, Hutchins visibility. He was asked to hire a project.” Through this method, he built a says the exertion to network almost marketing manager with credit union large network of contacts he could work always pays off—for his company, experience. Because of the specialized with at a moment’s notice. This manager himself, and his clients. skill set, he was having difficulty finding was recently affected by Motorola’s the right candidate. A hiring manager downsizing—but his network quickly led FERTILE SOIL found a qualified candidate through a him to another job. Taking an active approach to networking local credit union network and sent As is often the case, Taylor’s manager within your professional circle is a good Taylor her resume. “Her superior skill set benefited from networking in two start, but there are plenty of other fields and seven-years of industry experience ways: he improved his business while to plant. Many promising leads are put her ahead of the other applicants, constructing a safety net. Growing a unearthed by coincidence through casual and she was hired,”says Taylor. network can be as simple as investing in interactions with acquaintances, friends, relationships you routinely encounter and others outside of your circle. Professional Skills Classes or Continuing on the job. The following list of networking Education—Gaining more exposure to Taking time to make more than just an resources is a compilation of suggestions current practices in your field or in your acquaintance with those you interact from Marriott School alumni and job hobby area will strengthen your skill set, with may not only plant future seeds for search experts: introduce you to contacts, and sometimes job possibilities but also help you even lead to a new career path. progress in your current job and expand Trade and Professional Associations— Julie Butler, a student at Arizona State your company’s clientele. Associations are a built-in, prefabricated University, learned the value of new Rick Hutchins, a senior tax partner network of industry sources.4 The educational opportunities. She attended a with Novogradac & Company LLP in San Encyclopedia of Associations,found in lecture series luncheon offered by the Francisco knows how important it is to most libraries, is a good resource for Arizona Chapter of the Management extend yourself when you have the determining which associations exist in Society. She was so inspired by speaker opportunity to network. He says it’s not your field and geographic area. Most Sharon Slater, a United Families always easy and requires discipline. “After associations have meetings or special International (UFI) representative, that speaking at a conference, it would be easy events you can attend before becoming a Butler approached her to express her to return to my hotel room, make phone member. While attending any activity, it interest in the topic. “The next thing I calls, and do client work,” says Hutchins, is important to be genuine and assertive. knew I was on my way to New York City a Marriott School MAcc graduate. The golden question is: Do you know for my first United Nations Conference,” “But, I would miss a prime opportunity someone else I might speak with?5 Butler reports. Since then, she has attended several more conferences and completed an internship with UFI.

BYU Management Society Chapters— With more than fifty chapters worldwide, 60% the BYU Management Society is an effective networking resource for LDS business professionals. Chapter 40% membership is not limited to BYU graduates or members of The Church of Jesus Christ of Latter-day Saints. Activities vary from business lunches to 20% job fairs and resume exchanges. To find the nearest chapter, log on to marriottschool.byu.edu/mgtsoc/directory.

0% Marriott School Alumni Services—Con- necting with your alma mater and former Networking Advertisement Other classmates can help build a strong network. BYU and Marriott School Search Firm/Agency Internet alumni can find classmate information through an online alumni database as

16 MARRIOTT well as create a customized alumni- you could volunteer as treasurer for a DOS networking list around a specific job, local organization. Establish good records—In a secure place, industry, or geographic area. (i.e., Rolodex®‚ or Palm™ handheld), write Alumni can also review and update Freelance Projects—Freelancing is some- down contacts and referrals as well as their records, post jobs online, enroll in thing to consider regardless of your work details to help you remember who they the alumni placement database, and status. Freelance projects provide an are and where you met them. Also record receive career counseling. Alumni services outlet to meet and work with people the dates you call, email, or meet with information is available online at outside your daily routine as well as extra contacts or referrals. You don’t want to be marriottschool.byu.edu/services. income that could become your only the one who forgets to call back. Personalized assistance is also available income when unemployed. through the alumni placement office. Ashby’s first freelance writing project Keep in touch—A thoughtful hand- Contact Scott Greenhalgh via email at was the result of a casual phone written note in a holiday, birthday, or [email protected] or by phone conversation. “I called a former colleague thank-you card is a nice gesture letting at (801) 422-6936. to see how things were going at the friends, family, and business associates company,” she says. “It turned out they know you’re thinking about them. A Church Contacts—In 2001, Church em- needed my experience to help write a short personal email may also be ployment services helped place more than report on short notice—one of my appropriate. On a more formal note, 150,000 people worldwide. More than former job responsibilities.” With that sending clips or articles about relevant 66,000 of these job placements originated report, Ashby launched her freelance business topics to associates or at the ward and stake level, career. “I enjoy my flexible schedule as a supervisors is a way to be helpful while says Michael Anderson, manager of part-time writer and the exposure to new staying in touch. field operations for the Employment perspectives and opportunities,” she says. Resources Services Division of the Welfare If, like Ashby, you have a knack for Prepare—Before calling or meeting with Services Department. writing, you might consider submitting a referral or contact, do your homework. Despite positive results, many still articles to trade magazines or local By learning about your contacts and their hesitate to network through Church newspapers on topics that may interest companies, you can decide beforehand members or approach ward employment potential employers. You not only get specific information you would like to specialists. Among many reasons, alumni your name out there as an employable gain from the interaction. Remember report that they feel uncomfortable or expert but also add to your resume.6 you’re not asking for a job, you’re asking embarrassed discussing their job status. for information. Others are nervous they will be judged by Temporary Employment—Temping can their employment or financial situation. be very effective because it gets you inside DON’TS In response to these concerns, Anderson a target organization. This option places Don’t lose interest—Inconsiderate net- reminds professionals of the benefits of you in a position to meet hiring decision workers milk short-term interactions. To networking and the willingness of most makers and learn of new job openings. show that you’re not solely interested in members to help. The key to this resource is making a personal gain, don’t lose interest in Careful not to imply that LDS favorable impression during your people after they’ve helped you. Contacts professionals should feel obligated to temporary stay. who’ve been burned, demeaned, or hire other LDS people because of their simply forgotten often become cynical religious affiliation, Anderson points out, NURTURING A NETWORK and less willing to help others. 8 “Networking is not getting matched to A growing network needs constant care the perfect job. It’s opening doors and upkeep. It can suffer from too much Don’t keep contacts in the dark—Once and providing opportunities to sell or too little attention, and it’s up to the a contact has given you a lead, make sure yourself based on your credentials individual to find the balance. Because you keep him or her updated. Even if and skills.” you will most likely be unemployed or nothing comes of the lead, it’s important need to make a job change more than to show that you’ve followed up. If Volunteer Work—Volunteering not only once in your career, it’s important to something positive comes of the lead, you provides an informal atmosphere to meet properly nurture networking contacts the should be the bearer of good news. people from various backgrounds— first time around. Your behavior may diversifying your network—but also determine not only their immediate Don’t forget your business cards—You helps you focus on others as you serve. impact on your career but also how much shouldn’t underestimate the importance Volunteering can also give you a chance they’ll be willing to help you in the future. of a tangible reminder and easy access to to sharpen and showcase your skills in The following dos and don’ts are contact information. Hand out cards new environments. For example, if designed to help professionals find the generously, and consider enclosing cards you have a background in accounting, right nurturing balance. in follow-up communications. “Thoughtful, considerate networking creates lasting sources of information, support, and friendship that pay dividends in countless other contexts.”

When all goes well, the nurturing help someone when they know what always yield positive results. Don’t give up networker creates a treasure that goes far they’re looking for,” he adds. “It’s hard to on networking if you don’t see immediate beyond help in securing employment, help a person who says they’ve done it all results. Not all seeds planted will take says Douglas B. Richardson, vice and can do anything, or a person who is root. It’s often the fifth or more generation president of the Mayer Leadership Group not open to new perspectives or ideas.” of referrals that lands you a position. in Wayne, Pennsylvania and a career Hutchins agrees that specific questions columnist for The Wall Street Journal. are important. He usually begins client- SHARING THE FRUITS “Thoughtful, considerate networking networking interactions by asking how Growing, nurturing, and harvesting a creates lasting sources of information, their business is going and what they are network revolve around how others can support, and friendship that pay doing differently this year to improve help you. But how can you help others? dividends in countless other contexts.”9 over last year’s results. “As they tell Networking should be more about giving me about their strategies, I try to see than taking. As a contact in many other HARVESTING A NETWORK what I can do to assist them with their people’s networks, you should be generous Harvesting the rewards of a strong success,” he explains. “Often, my best with your assistance. You may be able to network may take place throughout your networking comes from introducing assist both those seeking jobs and also career, when you change jobs, become them to someone in a related industry those hiring—maybe even your own unemployed, or reenter the workforce. who can help with accomplishing their company, client, or family member. No matter where you are in the career business plan.” Hutchins says one of his clients is still cycle, you should feel comfortable Illustrated in Hutchins’ approach is a thanking him for an introduction he tapping into your network—a skill that crucial networking element—listening. made five years ago. His accounting firm requires practice. Dale Carnegie, author of How to Win had a client who was leaving the When approaching contacts, Richardson Friends and Influence People, said, “You affordable housing industry and looking advises practicing the three Cs: concise, can make more friends in two months by for someone to buy a partnership interest casual, and conversational. “A networking becoming really interested in other people in several real estate investments. meeting isn’t a sales transaction,” he says. than you can in two years by trying to get Hutchins told his largest client about the “It’s about building trust, gaining visibility, other people interested in you.” potential sale. They quickly made contact gathering anecdotal information, and Listening helped Olsen feel more and purchased the entire portfolio. creating a favorable lasting impression.” comfortable calling his contacts. “I got Olsen had a different experience. As a Richardson also says networkers will get over my anxiety by first, letting people young father seeking employment, he optimal results from their contacts if they know that I appreciated a chance to talk stopped to see a former associate while respect time, offer to help, keep to someone in the real world again and on a family vacation. At their previous confidentiality, and value gratitude.10 second, by asking about events in their employment, Olsen spent many after- Taylor also has a few tips for life or around the office and honestly work hours tutoring his colleague. His networkers. He says the best approach to listening to them.” friend now held a position of influence in networking is to come prepared with Harvesting techniques are as varied as a large and growing company. Olsen specific questions. “It’s much easier to the people you contact and may not briefly explained what he had been doing

18 MARRIOTT and what type of work he was seeking. To but they are rarely asked.” For members taking time to develop relationships, “You his surprise, his former colleague who don’t feel comfortable asking, Taylor can limit your future by focusing too responded coldly and offered no real suggests using the ward employment much on the tasks at hand,” he says. advice or assistance. “From that specialist. For example, Taylor says, “A “Building and expanding a network of experience, I gained a conviction that if ward employment specialist can take a relationships can enrich all aspects of there is anything I can do to help few seconds during a meeting and say, your life.” someone find employment, I will do it,” ‘I’m working with an individual seeking Olsen understands networking is about says Olsen. opportunities with the following using shared interests to develop and Anderson wishes all church members companies. Does anyone have a contact maintain mutually beneficial associations. would embrace similar convictions. inside these companies?’” He or she Done right, networking is a lifelong, “Members of the Church need to can make a note of those who raise evolutionary process. Whenever you talk understand that we all have the welfare their hands and deliver these names to with others and seek their opinions to responsibilities of being self-reliant and the job seeker. make an informed decision—whether it’s caring for others,” he says. “To do so Helping others in the networking about investments, current events, or requires us to help each other both process doesn’t always include referrals. It leisure interests—you could be on your spiritually and temporally.” can be anything from a concerned phone way to growing your next job. m Anderson explains that priesthood call to an honest answer. Olsen is grateful quorums and Relief Societies provide for Church members, friends, and ENDNOTES opportunities for members to help associates who reached out to him while 1 U.S. Bureau of Labor Statistics web site, www.bls.gov/news.release/mslo.nr0.htm members and can be useful networking he was unemployed. “Unemployment can 2 U.S. Bureau of Labor Statistics web site, organizations. President Gordon B. have a terrible effect on the psychology of www.bls.gov/news.release/tenure.nr0.htm Hinckley said, “I am satisfied, my someone who has worked most of his or 3 Drake Beam Morin web site, “Realities of the Executive Job Search: Fact Sheet,” News & Research link under research at www.dbmext.dbm.com/portal/public/dbmnav.nsf Networking should be more about giving than taking. 4 Kathryn and Ross Petras, The Only Job Hunting Guide You’ll Ever Need,(New York,NY: Simon & Schuster, 1995), 124. 5 Ibid., 125. 6 Ibid., brethren, that there is enough of her life,” he explains. “There is a 128. 7 Drake Beam Morin web site, “Realities of expertise, of knowledge, of strength, of loneliness that comes with being ‘out of the Executive Job Search: Fact Sheet,” News & Research link under research at concern in every priesthood quorum to the loop’ for an extended period of time.” www.dbmext.dbm.com/portal/public/dbmnav.nsf assist the troubled members of that Olsen appreciated lunch invitations and 8 Douglas B. Richardson, “Savvy Job Hunters quorum if these resources are properly phone calls from his friends to share any Learn to Network Nicely,” Career Journal, administered.”11 kind of news “even if they didn’t have any WSJ.com, www.careerjournal.com/jobhunting/net- Taylor believes Church groups are a job leads.” working/19981223-richardson.html 9 Ibid. 10 Ibid. 11 Ensign,Nov. 1977, 85-86. largely untapped resource. “There are Happy to be back at work, Olsen says many members willing and able to help, he’s gained a new perspective about

summer 2002 19 school news

Marriott School Partners with UITA dents to connect and network with local Program directors initially plan to businesses, he said. accept up to one hundred and eighty stu- Nelson said the added value is mutual. dents in the program. To be considered, stu- “The Marriott School and Rollins eBusiness dents must demonstrate proficiencies in Center are extremely important to UITA Microsoft Office applications, complete because of the enormous resources and information systems 201 with a B or better, national and global reach of the Marriott complete computer science 142 with a B- or School. Owen Cherrington has been a very better, and maintain a premanagement core involved member of the Trustees and has GPA of 3.0 or higher. With the Rollins Center for eBusiness up made substantial contributions to building Students began applying online for the and running, the Marriott School has joined Utah’s high-tech industry.” fall program 1 April 2002 and must com- the Utah Information Technology plete all application procedures by 30 June Association (UITA) to help build Utah’s bur- 2002. geoning high-tech sector. School Adds Information Systems Major Utah headquarters or houses opera- Student News tions of more than 2,500 information tech- Beginning Fall 2002, students at BYU can nology enterprises including vendors, devel- earn a bachelor of science degree in infor- Olympic Service Bridges Gap Between opers, producers and/or sellers of computer mation systems. The new major, offered Community and Academia software, Internet, digital media, hardware, through the Marriott School, will replace the and telecommunications-related products information-systems emphasis in the busi- According to Dan and services. In addition, Utah has a vibrant ness-management program. Vetter, BYU students e-business community with more than one “Having a bachelor’s degree in informa- carry a stigma. “We are thousand viable enterprises. tion systems will give our students the expe- often stereotyped for “Utah enjoys the distinction of not rience and credentials they need to increase our willingness to only being one of the top ten U.S. concen- both their skill base and their job marketabil- commit to service pro- trations of IT activity but also is ranked ity,” said Marshall Romney, director of the jects and reluctance to within the top five U.S. centers of public and information-systems management program. follow through,” said privately-owned independent software “This program will give graduates the tools Vetter, a senior from providers,” says Richard Nelson, president they need to succeed in one of the most Kaysville, Utah, majoring in accountancy. He and CEO of UITA. competitive industries in business today.” and four other students enrolled in professor UITA helps to develop Utah’s entrepre- The new 75-credit-hour program adds Gibb Dyer’s organizational behavior 321 neurial spirit by blending support and 12 more systems credit hours than the cur- class took it upon themselves to change that resources for the benefit of its members. The rent emphasis. Each student will be perception. privately funded nonprofit organization rep- required to complete 30 credit hours in The class was assigned a project with the resents and facilitates the thriving IT and information systems and computer science purpose of bridging the gap between acade- Internet communities in Utah through public as well as 45 credit hours in business-man- mia and the external environment. Vetter said policy advocacy, capital formation, and skilled agement courses. Eighteen of the 30 systems Dyer gave the students two options: they workforce development initiatives, as well as credit hours will be grouped together in a could choose from a list of service projects or networking and marketing opportunities. core format that students will take their create one of their own. As part of the course Professor Owen Cherrington is direc- junior year. requirements, students helped local business- tor of BYU’s Rollins Center for eBusiness “We recognized that our students need- es and organizations complete short-term and member of UITA’s Board of Directors. ed more experience during their junior year projects. Students were required to write a “The business community is the research lab so they would have skills to get competitive proposal on how the project would be execut- of a business school, and UITA is a key orga- internships between their junior and senior ed, dedicate at least twenty hours of service, nization within the state of Utah to help us years,” said Stephen Liddle, associate profes- and write a final paper. maintain contact with the information tech- sor of information systems. “Completion of Vetter’s group opted to work with the nology industry,” he said. “Our interactions a competitive internship, followed by new American Red Cross, host of the Olympic with UITA have been vital in creating new projects and a capstone consulting class, will ice-sculpting venue held at NuSkin Plaza in partnership relationships for the eBusiness help our students distinguish themselves in Provo, Utah. The Red Cross arranged acco- Center.” Key partnerships have allowed stu- the job market.”

20 MARRIOTT School News modations for event participants in the old Scout office building on Main Street in Marriott School Names 2002 Hawes Scholars Provo. The facility, however, was in short supply of bedding and toiletries. The Marriott School named eight MBA candidates as its 2002 Hawes Scholars. The honor, “That’s where our group came in,” which carries a cash award of $10,000, is the highest distinction given to MBA students at Vetter said. The group—including Vetter, the school. Ryan Stokes, Emily Hillstrom, Erynn The 2002 Marriott School Hawes Scholars are Abigail Billings from Springville, Utah, Andrews, and Angela Yamashita—solicited Bernie DeMoss from Provo, Utah, James Jones from Santa Rosa, California, Brooks different businesses for product donations. Lindberg from Draper, Utah, Jeremy Mathews from Orem, Utah, Jodi Morrison from Salt “The businesses needed an incentive to Lake City, Ethan Pochman from Mercer Island, Washington, and Douglas Van Woerkom donate,”Vetter said. “Many could write their from Alpine, Utah. contribution off as a tax deduction, and “The Hawes Scholars represent the leaders of a student body that prides itself on many saw it as an opportunity to improve integrity, hard work, and academic excellence,” said Henry Eyring,MBA program director. the image of their company.” “We’re certain these scholars will have a marked impact on the business world as they leave Vetter said that 50 percent of the busi- the Marriott School and pursue their careers.” nesses they approached were willing to help. Hawes Scholar candidates are nominated and selected by students and faculty. The other 50 percent had already allocated Selection is based on academic performance, leadership maturity, and a commitment to their donation funds to other charitable high ethical standards. organizations, he said. All supplies collected “I am grateful for the opportunity I’ve had to be a part of a university that is devoted were used during the Olympics or went to not only to academic excellence but also to developing men and women of faith and char- the Red Cross for future needs, Vetter said. acter,” Jones said. “I look forward, in both my academic and professional pursuits, to exem- “It feels good to have some involve- plifying the Marriott School’s ideals of excellence in my faith, scholarship, and service.” ment in the community,” added Hillstrom, a Named for successful corporate executive Rodney A. Hawes, Jr., and his wife, Beverly, senior from Orem, Utah, majoring in human the award was created in 1998 to recognize the accomplishments of graduating MBA stu- resource management. “It required me to dents. The Hawes Scholar award is one of many initiatives made possible by the Hawes step out of the college element and into the Endowment, a gift of more than $2 million used to facilitate the growth and enhancement real world.” of the Marriott School’s nationally ranked MBA program. Hawes, a Baker Scholar from the Red Cross Mountain Valley Chapter’s Harvard Business School, and his wife, wanted to create a tradition at the Marriott School Emergency Services Director Karen Stuart that recognizes and rewards excellence among students entering the business world. said the students successfully executed the Hawes served as chairman and CEO of Life Re Corporation, a leading provider of life project. “We couldn’t have done it without reinsurance in the United States. In addition to being widely recognized for his expertise in them. They were able to adapt quickly and financial matters, Hawes has a reputation for integrity, hard work, and community service. complete the project,” she said. Vetter’s group earned an A on the project. “Finishing what you start pays off,” he said. “I hope other colleges at BYU catch the vision of service learning and bridge the gap between the classroom and the community.”

Europe Program Invites Students

If attending a London musical is not incentive enough for Marriott School students to apply for the new European business undergraduate program, perhaps touring Versailles and beaching in Normandy might be. Other than experiencing the rich culture and history of major European cities, the new study abroad program offers business training with visits to companies such as BMW, Michelin, Jaguar, and Dr. Martens. photo by Bradley Slade Hillary Hawkins, a senior from Eight MBA candidates received the Marriott School’s highest distinction, being named 2002 Hawes Glendora, California, majoring in business Scholars. Scholars are, left to right: Bernie DeMoss, Jodi Morrison, Jeremy Mathews, Brooks Lindberg, marketing, will be a participant in the six- James Jones, Ethan Pochman, Abby Billings, and Douglas Van Woerkom.

summer 2002 21 School News

week study abroad program launching spring based approach than other study abroad New York Life Awards Student Intern term.“The program will enable me to retain opportunities,” Swenson said. the information better than I could from just Students begin the program in Salzburg Seth Richardson, a reading or attending class,” she said. “It’s one and travel to other cities such as Brussels, senior from Gonzalez, thing to learn about global businesses, but to London, Vienna, and Prague, he said. Three Louisiana, majoring in actually go and see how they work firsthand days will be spent traveling and in classes, business management, will be such a valuable opportunity.” leaving Thursdays and Fridays open for busi- won New York Life ness and factory visits. Professor of marketing and program Insurance Company’s faculty advisor Michael Swenson said stu- “I was excited to hear about this pro- West Central Zone dents will learn how businesses compete in gram, because it was geared specifically for internship contest. an international, global marketplace. my major,” said Kelli Wilkinson, a senior Richardson submitted the highest number of The European business undergraduate from Sandy, Utah, majoring in business life insurance applications for the period program was developed by the Department management and marketing. “These are between 1 June and 31 August. of Business Management to provide students places and businesses you’ve heard and read with a unique, international business learn- about your whole life. I can’t imagine actual- New York Life’s Internship Program ing experience, he said. ly being able to visit them.” attracted more than two hundred students “The program takes a more broad- from across the country this year. In this program, interns obtain the skills they need to become successful agents through regular one- Students Awarded for Entrepreneurial Drive on-one contact with agent mentors, active involvement with New York Life training Brandt Anderson, CEO of usight.com, said his first place win in the 2001 Entrepreneurship managers, and careful supervision from New of the Year contest speaks little of his intelligence. “I think that 99 percent of success is persis- York Life management. During the program, tence,” Anderson said. students are able to obtain their agent license A senior from Tampa, Florida, majoring in marketing communications, Anderson and begin working directly with clients. placed third in last year’s competition. He said his jump from third to first can be attributed “New York Life is proud to offer this to the Center for Entrepreneurship, which helped him see that “hanging in there” is some- educational, professional opportunity to times half the battle. “People tell me I’m smart because my business has taken off,” Anderson says. “But that’s young people exploring their careers,” said not the case. I believe it’s worked because I stuck to it and always believed it would work.” He Jane Conti, corporate vice president in said earning success and recognition required adjustments and reshaping the focus of charge of the New York Life internship pro- usight.com—an e-commerce solution provider for small businesses nationwide. The compa- gram. “Our interns had a valuable and ny has created a software product that enables someone with out any technical knowledge to enriching experience this summer learning create a web site in minutes. what it takes to help clients become educated The Student Entrepreneur of the Year Contest is held to recognize the best student- about their life insurance needs.” owned businesses among BYU students. Ron Spotts, internship coordinator for the center, “My participation in this summer’s said the competition is judged on the business’ viability, how the business contributes to the internship program taught me important community, and the owner’s salary. lessons in building client relationships and Placing second in the competition was Daniel Muir, a recreation management graduate managing my work schedule,” Richardson from La Canada, California, and president and CEO of Nickelcade. The third place winner said. “It also gave me a lot of practical field was Joshua Steimle, CEO of Mindwire Interactive, who said his company has overcome experience.” obstacles including being launched “during the worst economic time possible.” Steimle is an MISM graduate Sophomore Named National Kemper student from Arcadia, California. Scholar When selecting winners, judges consider the business’ strategy, marketing, operations, finance, presentation, and overall quality. “Our mission is to support and The James S. Kemper encourage entrepreneurship,” Spotts said. Judges strive Foundation, the chari- to acknowledge students who are maintaining an acade- table arm of Kemper mic standing while running a business, which is why Insurance Companies, students competing in the contest are required to be named Jay Oman,a enrolled in at least six credit hours, Spotts said. prebusiness major from Springville, Utah, Craig Ernshaw, founder and faculty advisor of the Association of Collegiate Entrepreneurs, presents first place award and check to Brandt Anderson. one of seventeen Kemper Scholars

22 MARRIOTT School News

Professor’s Teaching CD Credits Accounting Knowledge

Norm Nemrow’s sixth-grade son recently approached him to ask for help with pre-algebra homework. Nemrow, a Marriott School accounting professor, scanned his son’s pre- algebra textbook in hopes of refreshing his memory. Thinking the text explanations weren’t very clear, Nemrow asked his son if the teacher had demonstrated how to work the problems. “Yes,” his son said. “But I can’t remember how she did it.” This incident reinforced Nemrow’s strong-held belief in the value of his latest teaching innovation: introductory accounting on CD-ROM. This approach combines an audio-video lecture presentation with synchronized graphics allowing students to control the learning process. “With a simple mouse-click, students can listen as often as is necessary to learn and reinforce important concepts. There isn’t always time in class to repeat material for students who need assistance,” Nemrow said. “But this way, students can stop the CD, slow down, take notes, rewind—whatever they need to fully understand the lecture concept presented.” The CDs eliminate the need for a traditional textbook and classroom lecture, Nemrow said. Students watch him teach the basic accounting concepts on the CD-ROM in thirty lessons averaging about an hour each. Online quizzes covering the lesson materials are taken throughout the semester at certain dates to keep students motivated and moving through the material. In addition to the CDs, eight required classes are held throughout the semester where “we talk about how accounting information is used in the real world,” Nemrow said. “We never had time to discuss some of these important and more interesting applications with the old textbook/lecture format.” To supplement CD-style learning, Nemrow provides students with additional resources. He has set up a TA hotline students can call to receive assistance. They can also view the CDs at a TA lab and attend optional review sessions as well as meet with the professor for additional assistance. The CDs, which took Nemrow two years to complete with the Center for Instructional Design, are receiving national attention. The University of Richmond in Virginia is adopting the CDs on a trial basis. “The quality of the introductory accounting class is the single most influential factor in a student’s decision to major in accounting,” Nemrow said. “This method appeals to students.” There has been an over- whelmingly positive response, he said. According to a survey conducted at the Marriott School, the majority of Nemrow’s students have found his CD to be helpful and accommodating. In fact, 90 percent of students said they prefer the CD/online approach to the traditional classroom experience. Additionally, exam performance is equal to or better than scores earned through the traditional lecture format.

nationwide. The Kemper Scholars program Faculty News Students apply to the academy the same provides recipients with a three-year scholar- way they would apply to college. Applicants ship and three summer-internship programs Professor Builds Entrepreneurship in the must hold a current temple recommend and at Kemper Insurance offices around the Philippines obtain an ecclesiastical endorsement from country. their local priesthood leader. “The Kemper scholarship program is Thanks to Stephen W. While at the academy, students partic- an excellent way to begin honing the profes- Gibson and his wife, ipate in group case studies, weekly devo- sional skills that will be required to become Bette Gibson, many tionals, and individual business planning an outstanding business professional and Filipino returned mis- sessions. Graduates leave the academy not provide me with the experience to get a job sionaries now have the only with increased business knowledge in the career of my choice,” Oman said. knowledge to start, but also with individual business plans The Kemper Foundation seeks students build, and run small they can use to create and run their own who wish to make a positive contribution to businesses. The couple microenterprises. society while gaining valuable work experi- founded the Academy for Creating Enterprise The Gibsons spent nineteen months in ence. Selection is based on a written applica- (ACE) to benefit members of the Church in the Philippines during which time they saw tion and a series of one-on-one and panel Cebu City, the second-largest city in the nearly two hundred returned missionaries interviews. Philippines. graduate from the academy. They hope an Once named a Kemper Scholar, a stu- “We created the academy to instruct additional 550 students will graduate within dent must maintain a 3.0 GPA each academ- Filipino returned missionaries,” said Stephen, the next few years. ic semester to continue in the program. senior entrepreneur-in-residence at the “We wanted to establish something that “Jay Oman typifies the quality of stu- Marriott School. After returned missionaries could be turned over to and run by local peo- dents at the school,” said Ned C. Hill,dean receive instruction, Stephen said they go to ple, and we’ve done that,” Stephen said. The of the Marriott School “We’re honored to their home wards and stakes and teach local academy is managed by four of our graduates have him represent us among this select members the same things they learned at the and a local Church member who holds a group of student scholars.” academy. master’s degree in economic development.

summer 2002 23 School News

LDS Out-Migration Project Initiated by “The net result was the ‘scattering’ of business executives who were a part of the Marriott School Professor LDS people around the country and their out-migration. shift to become an urbanized population,” Additional roundtables are scheduled Ever wondered how the LDS Church pio- Johnson said. During the process, many of for Provo, Salt Lake City, St. George, and neered its way out of Utah in the twentieth these people became secular and religious other locations. century? While the vast majority of LDS leaders in their new communities. Hence, The first two-thirds of the century have scholars focus primarily on the Church’s the Out-migration Leadership Project is a been covered, but now researchers are seek- beginnings in Utah, G. Wesley Johnson, study in both the secular and religious are- ing interviewees who migrated out of Utah emeritus professor of business history at nas; its goal is to see how part of the LDS during the last part of the twentieth century BYU, finds the proliferation of the Church community moved out from the “Mormon (1970 onward). The out-migration project outside of Utah an untapped goldmine of Corridor” and took root and grew in cities has been largely made possible by BYU LDS history. He is particularly interested in across America. research funds. However, to bring the project how the role of leadership made a nation- The Out-migration Leadership Project is to completion, the research team is in need wide out-migration possible. sponsored by the Marriott School, under the of additional underwriters. According to Johnson, the study seeks direction of Johnson and an advisory com- For more information, please contact to develop case studies of men and women mittee of other leaders and scholars including Ron Seamons, assistant dean of the Marriott who have moved from the traditional rural Ronald Dixon, a retired corporate attorney. School, at (801) 422-3801. LDS heartland (primarily Utah) to cities The project will produce several paper- around the United States. back volumes of case studies of selected Around 1900, when the mass migra- individuals, families, and communities, with tions to Utah from the Midwest and overseas a focus on leadership. began to wind down, a “reverse migration” Eventually, a large narrative volume in of persons seeking higher education and hardback will provide an overview of the economic advancement came under way, entire out-migration/urbanization project Johnson said. in the twentieth century. Tens of thousands of Latter-day Saints Interviews and working papers will be began seeking their education and fortunes deposited at BYU’s Harold B. Lee Library elsewhere—in cities such as Chicago, for the benefit of students and researchers Washington, D.C., New York, Boston, from a variety of disciplines. G. Wesley Johnson, emeritus professor of business Atlanta, Dallas, St. Louis, Portland, Phoenix, The project has already organized sev- history, interviews (center) Robert Winston, former Seattle, the Bay Area, and Los Angeles, eral roundtable seminars with outstanding Bendix executive and (right) Ronald Dixon, among others. retired corporate attorney.

Professor Digitally Combats Corporate Communication Woes

Armed with lipstick cameras, digital editing equipment, and a PhD in institutional interaction, micro-ethnogra- pher Curtis LeBaron, professor of organizational leadership and management communication, examines the problems in corporate communication infrastructures frame by frame. “I use technology to capture everyday life in business organizations,” LeBaron said. “I then analyze what people actually do—rather than what they may think they do. Businesses seem to like this approach because formu- laic solutions aren’t always tailored to the needs of a specific organization,” he said. One of LeBaron’s favorite organizations to analyze is his own management communications 505 class. He turns his students into their own research subjects by recording every class period and having them analyze their own group structure and communication patterns at the end of the semester. “Today’s technologically savvy students really latch on to Dr. LeBaron’s research methods,” said Professor Stanley E. Jones, a former colleague of LeBaron’s at the University of Colorado at Boulder. “Students liked him so much that they gave him the SOAR award, one of the university’s most prestigious teaching awards.” LeBaron’s hands-on, technology-rich style of data collection and analysis has appealed not only to his students in the classroom but also to various companies across America. By using programs such as Adobe Premiere and Sound Edit 16, LeBaron is able to more accurately locate and understand communication-based problems that underlie organizational troubles. “His research approach is becoming increasingly valued by organizations that want to gain a deeper understanding of how meaning and insight are really created through communication,” said Michael P. Thompson, director of the Marriott School’s Organizational Leadership and Strategy Department. “He puts a powerful lens on processes that most of us talk about rather than observe.”

24 MARRIOTT School News

Professor Edits Global Leadership Development Book Awards and Recognitions

Leadership develop- Doyle Buckwalter, Leavitt to honor out- ment is critical to an Marriott School standing volunteers organization’s com- emeritus professor, throughout the state petitive advantage. received the Lifetime of Utah. Newrow has That’s why professor Service Award from been a full-time vol- C. Brooklyn Derr the Utah Chapter of unteer at BYU since coedited the book the American Society 1992. Thanks to a pre- Cross-Cultural for Public viously successful Approaches to Leadership Development Administration (ASPA) for his thirty-plus business career, he is in a position to donate (Quorum Books, February 2002). years of service to students at the Marriott both his time and teaching salary to the Derr is the Donald L. Staheli professor School, the Romney Institute of Public university. “I love the spirit of BYU. I get so of organizational behavior in the Management, and the ASPA. During his much more from this university than I am Department of Organizational Leadership, career at the Marriott School, Buckwalter able to give back,” Nemrow says. “I believe and Strategy and the executive director for served as director of the Romney Institute’s donating my time is an appropriate way to the Center for International Business. internship program and established ongo- contribute to the great mission of BYU.” He says, “The key to successful leader- ing internship opportunities for Romney ship development programs lies in under- Institute students with local and national J. Bonner Ritchie, for- standing the complex and always-shifting organizations. mer Donald L. Staheli interplay of national culture, organizational Robert Parsons, chair of the Romney International culture, program dynamics, and individual Institute of Public Management, said, Professor of differences.” “Many MPA students have benefited from Organizational Editors Derr, Sylvie Roussillon, and Dr. Buckwalter’s untiring efforts and dedi- Behavior at the Frank Bournois explain the interrelation- cation to building a network of BYU alum- Marriott School, is ships among these influences, demonstrating ni and friends. It was through this network serving as acting dean how national culture may play a greater role that students were able to have internship for the School of Business at Utah Valley in leadership development programs in opportunities, career placement, and learn State College. Ritchie is a leading authority some countries than in others. about public service from excellent mentors.” on leadership and organizational management. Contributors present viewpoints from the United States, France, the United Jeff Dyer, associate N. Dale Wright, pro- Kingdom, Japan, the Netherlands, Poland, professor of organiza- fessor of public man- Germany, Italy, China, Vietnam, Israel, tional leadership and agement, has been Africa, and Latin America. Included are the- strategy, has been pro- appointed associate oretical perspectives on leadership manage- moted to strategy director of the George ment in changing organizations, on fast-track group chair in the W. Romney Institute executives, and clinical psychology. Department of of Public Management, Additionally, the editors have included Organizational overseeing the a discussion of the diversity-collaboration Leadership and Strategy. Dyer will replace Executive MPA program. Wright has taught model—a highly useful tool for modulating Burke Jackson, associate professor of orga- EMPA students for twenty-five years. the pendulum swings between the two nizational leadership and strategy. “We “Dale has always believed that improv- extremes of total cultural differentiation and appreciate Professor Burke Jackson for his ing government services means improving absolute organizational control. service over the past several years as chair the skills and insight of the managers in The various chapters on leadership of the strategy group. The group has devel- public organizations. This is immediately development as practiced in both developed oped into a very strong, dynamic, and accomplished through executive education,” and developing countries provide valuable influential entity under Burke’s leadership. said Vince Fordiani, director of student ser- insight into the utility of the diversity-col- We are confident the group will continue to vices for the Romney Institute of Public laboration model. succeed with Jeff Dyer at the helm,” said Management. “Human resource managers, leadership Dean Ned C. Hill. “I don’t know anyone who is more development consultants, and organizational committed to the improvement of executive behavior consultants, as well as their acade- Norm Nemrow has received the forty-sev- education than Dale Wright. He truly cares mic colleagues, will find this work useful,” enth Governor’s Points of Light Award for about the quality of executive education we Derr said. his volunteer work at the Marriott School. are providing. I look forward to working The award was started by Governor Mike with him,” said Fordiani.

summer 2002 25 alumni news

School Names Alum International margins to keep their business.” divided into four advisory committees, Executive of the Year During Burns’ time at Ryder, the com- initiated projects to be completed over the pany exited almost 60 percent of its less- next six months. Projects include: provid- profitable businesses and successfully moved ing undergraduates with short-term, The Marriott School into the lucrative logistics and supply-chain unpaid internships; recruiting guests for and Board of Trustees management arena. These moves helped the class lectures; investigating venue options for at BYU named M. company’s stock outperform the S&P index the 2003 Management Conference; updating Anthony Burns, chair- eighteen out of the past twenty years. alumni database information; globalizing man of Ryder System, Burns strategically cut low-growth classroom curriculum; and continuing the Inc., as the 2001 businesses from the company’s portfolio. initiation of a global business center. International Ryder, once the world’s largest jet-engine Executive of the Year. overhaul company, now goes nowhere near a New Alumni Board Members President Thomas S. Monson, first counselor jet turbine. “We saw companies like GE, in the First Presidency of the Church, pre- Pratt & Whitney, and Rolls-Royce having less Brad Haws is chief sented the award to Burns at a banquet 16 growth in new engines and making plans to financial officer of the November. extend their business into engine servicing,” physician group, a “Tony Burns served for nearly eighteen Burns said. “So, we sold this business to GE.” division of years as CEO of one of the most successful Ryder also unloaded its low-margin truck- Intermountain Health transportation and logistics companies in rental business and now makes more money Care (IHC) in Salt the world,” said Dean Ned C. Hill.“He is not collecting royalties from the Ryder name Lake City. Haws has only a proven leader but also a man of than it did carrying $600 million in rental also acted as senior integrity who cares deeply about people.” assets. financial analyst for IHC. Haws earned his Burns says success as a CEO comes In addition to strategic cuts and new BA in political science from BYU in 1989 from a constant stream of new ideas and market development, Burns overhauled the and his MBA from the Marriott School in perspectives. “In the corporate community, company’s human resource program— 1991. Haws served as captain of BYU’s you have to reinvent your company and increasing diversity and performance-based lacrosse team from 1989 to 1991. He and his yourself as CEO about every five years,” he rewards. wife, Nancy, reside in Draper, Utah. told Marriott School MBA students. “The Burns joined Ryder in 1974. He was best way to reinvent yourself is to listen and elected president and chief operating officer Paul Peterson was observe.” He added, “Being on outside in 1979, CEO in 1983, and chairman of the named executive vice boards is also good for reinvention. I come board of directors in 1985. In addition to his president of the single- back from a board meeting and ask all kinds membership on the Ryder board, he serves family division of of questions about our own operations.” on the boards of directors of J.P. Morgan Freddie Mac in Burns cautioned students: “The fastest Chase & Co.; The Black & Decker December 1999. He has way to go out of business is to tell your cus- Corporation; J.C. Penney Company, Inc.; been with the company tomer you can’t do something. At that point, and Pfizer Inc. Before joining Ryder, Burns for thirteen years. all you can do is lower your costs and spent nine years with Mobil Oil Before joining Freddie Mac, Peterson Tell us about you Corporation. was president of Market Street Mortgage or your friends Burns earned his BS in business Corporation and chair and CEO of administration from the Marriott School in CalAmerica Savings and Loan. Peterson 1964 and his MBA from the University of earned a BS in finance from BYU in 1974 Log onto: California at Berkeley in 1965. He resides in and an MBA and PhD from the University marriottmag.byu.edu/tell_us.cfm Miami, Florida. of Utah in 1975 and 1979. He and his wife, Email: Sara, reside in Leesburg, Virginia. [email protected] Mail: Alumni Board Initiates Projects Melvyn Reeves is an officer and shareholder Marriott Alumni Magazine of Enhanced Benefits Insurance Group, Inc. 775 Tanner Building Thirty Marriott School Alumni Board mem- He and his associates work closely with Brigham Young University bers met 14-15 March at Aspen Grove and community banks in the area of officer and Provo, Utah 84602-3187 on the BYU campus. The board, which is director compensation. Reeves earned his

26 MARRIOTT Alumni News

BS in accountancy Matt Smith is director Class Notes from BYU in 1975. He of training and devel- has also received the opment for the 1977 Chartered Life human resources Underwriter and department at Randall Walker is the Chartered Financial BYU. He has also director of aviation for Consultant designation worked for ADC Clark County, Nevada. from the American Telecommunications, He is responsible for College in Bryn Mawr, Pennsylvania. Reeves Honeywell, and Hewlett-Packard. Smith oversight of McCarran and his wife, Linda, are the parents of thir- earned his BA in English from BYU in 1976 International Airport, teen children and reside in Bountiful, Utah. and his MOB from BYU in 1980. He and his the eighth busiest air- wife, Susan, reside in Springville, Utah. port in the United Everett Smith is the States. Walker directs operations and expan- corporate controller at Douglas E. Witt is a sion projects for Clark County’s airport sys- Icon Health & Fitness, director of merchant tem that includes McCarran International Inc., in Logan, Utah. relations for THC, a Airport, North Las Vegas Airport, Henderson Smith earned his BS in division of Flying J and Executive Airport, Jean Sport Aviation Center, accountancy from the a joint venture with and the airports at Searchlight and Overton. University of Southern Conoco Corp. He Walker earned his BS in accountancy from Mississippi in 1982, develops and oversees BYU in 1977. He and his wife, Terry, reside in his MAcc from BYU in 1983, his JD from the relationships with Henderson, Nevada. University of Idaho in 1990, and his LLM other major oil industry companies. Witt has (Master’s of Law) from Georgetown Law a wide base of experience in strategic and 1978 Center in 1995. He and his wife, Terri, reside ground-level marketing. He earned his BS in in Providence, Utah. business management from BYU in 1983. He Steve Young accepted an executive position and his wife, Shelene, reside in Midvale, Utah. with Franklin Covey Co., as senior vice president of finance. He is responsible for all

MPA Grad at Work with the State Department

Krescent Hancock’s daily commute to Foggy Bottom via the metro’s blue line hasn’t gotten old yet. In fact, “each day is a new adventure,” she says. Her destination is the State Department in Washington, D.C., where she works as a presidential management intern (PMI). As part of her two-year assignment, she works in the Office of Intelligence Resources, a branch of the Bureau of Intelligence and Research (INR). INR’s primary mission is to harness intelligence to support U.S. foreign policy decision makers, Hancock said. The PMI program was established by executive order in 1977 to attract students from a wide variety of academic backgrounds to work for the executive branch of the federal government. More than forty federal agencies and all cabinet departments hire through the PMI program. As a PMI, Hancock lends support to diplomacy and diplomatic operations and acts as project assistant for the Support to Diplomatic Operations (SDO) program. She assists in the daily coordination of projects and develops, tracks, and imple- ments budgets and schedules related to SDO projects. She provides backup staff support for the deputy assistant secretary for Intelligence Policy and Coordination’s participation in an interagency intelligence collection board. In addition, Hancock helps provide intelligence assistance to the Secretary of State while he travels. Hancock served as the volunteer INR officer for Secretary Colin Powell’s trip to the United Nations General Assembly in New York in November. In the coming months, Hancock will travel to Tokyo, Botswana, Sri Lanka, and Trinidad and Tobago for short-term projects. “The PMI program, with its training and rotation opportunities, is giving me a breadth of experience in the State Department and federal government,” Hancock says. Her internship commenced in 2001 and will conclude in 2003, at which point she plans to continue working with the State Department. She is considering a career in the Foreign Service. Hancock graduated with University Honors from Colgate University in 1998. After earning her BA, she received her MPA degree in 2001 from the Marriott School. Hancock resides in Fairfax Station, Virginia.

summer 2002 27 Alumni News

Alum Finds Success in Buying Market

Kristina Khona may not have children yet, but she probably knows more about baby clothes than most parents. “It’s my job,” she says. Khona is a buyer of infant and newborn clothing for Hecht’s and Strawbridge’s, department stores located in the Eastern region of the United States. Hecht’s and Strawbridge’s—the largest division of the May Department Stores Company—owns and operates eighty department stores in eighteen markets including Washington, D.C., Philadelphia, Baltimore, Norfolk, and Richmond. Khona is responsible for driving sales of more than $15 million through her analysis of buying patterns, inventory sales, and pricing through strategic negotiations with vendors. “There’s a great sense of empower- ment. I’m basically in charge of running a $15 million infant clothing business,” Khona says. Her purchasing market extends from New Jersey to North Carolina. The purchases differ by market depending on the demographics of an area, she says. “The Southern states are more conservative, ‘church-going’ people, so I tend to purchase fancier dresses,” she says. “But our downtown D.C. and Philadelphia stores cater to a much faster customer, so I look for more urban styles.” A combination of sales analysis, knowledge of recent trends, and “retail instinct” help Khona know what will sell in certain markets. Before working with Hecht’s and Strawbridge’s, Khona was a national corporate intern for Sears, where she was chosen as one of the top ten interns nationwide. She was able to spend six weeks at the corporate headquarters and six weeks in a retail store where she got a view of the retail industry “from top to bottom,” she says. “After my internship with Sears, I knew I wanted to be a buyer.” Khona is excited about her future with Hecht’s and Strawbridge’s as she anticipates opportunities in buying offices for other areas in the department store. “Promotions result from movement to different buying offices that have larger sales volume or greater complexity,” she says. As her newest venture, Khona has committed to serve as a mentor for Marriott School students. “The retail industry provides an excellent environment for women in business, with opportunities in merchandising, advertising, and finance,” Khona said. “I’d like to share my experiences and my knowledge of the industry with students.” Khona graduated with University Honors in 1998 with a BS in business management from the Marriott School. She resides in Alexandria, Virginia.

aspects of financial reporting, financial plan- programs. McGregor graduated with a BS in company is located in Trinity, North ning, and financial support services. He finance from BYU in 1982. He resides in Carolina. Moss earned his BA in political works in Franklin Covey Co.’s Salt Lake City Irvine, California. science in 1980 and his MBA from BYU in office, where the company manages its inter- 1983. He and his wife, Lois, reside in national and domestic operations. 1983 Greensboro, North Carolina. Before joining Franklin Covey, Young traveled internationally as chief financial David Hales is the new city manager of Jay Rollins has been a officer and executive vice president of inter- Bend, Oregon. Hales worked for the City of U.S. Foreign Services national operations for Weider Nutrition Salt Lake from 1981 to 1986, where he officer since 1989 and International. Young and his family have climbed from an accountancy position to is working in lived in Centerville, Utah, for twenty-two property manager. When Hales learned he Washington, D.C., as years. He graduated with his BS in accoun- needed an additional degree to make a assistant director in tancy from BYU in 1978. career leap, he enrolled in the Marriott the office of inspector School’s MPA program. general of the U.S. 1982 Three years after graduation, he Agency for International Development. became the city manager of Centerville, In October 2001, the audit team he Sterling McGregor is Utah, where he stayed for eleven years. He managed received the “Award for Excellence” CEO for Argus Realty then moved to Kannapolis, North Carolina, from the President’s Council on Integrity Investors. Argus Realty to manage the city that grew 24 percent dur- and Efficiency for “audit work identifying Investors and its part- ing the 1990s. Hales and his wife, Kathy, now $289 million in unclaimed cargo preference ner, Concierge Asset reside in Bend, Oregon. Hales earned his BS reimbursements for shipping costs incurred Management, special- in political science from the University of under U.S. international assistance programs ize in the acquisition, Utah and his MPA from BYU in 1983. since 1992.” development, sale, and As a result of this audit, hundreds of management of fractionalized 1031 exchange Richard Moss is vice president and treasurer millions of dollars in reimbursable shipping investment interests, as well as privately of Sealy Corporation, the world’s largest costs will become available to substantially structured, value-added, direct-participation manufacturer and marketer of bedding. The increase U.S. international food assistance to

28 MARRIOTT Alumni News eligible recipients throughout the world. 1989 higher writing standards for twelfth graders Rollins spent eight of the last thirteen nationwide. years in Cairo, Egypt, auditing U.S. foreign Rick Varner practices Varner and his wife, Wendy, have three assistance to several Middle Eastern coun- business litigation with children and reside in Ladera Ranch, tries. His next assignment is in Pretoria, Shields Law Offices in California. He earned his BS in finance from South Africa, where he will oversee financial Irvine, California, and the Marriott School in 1989 and his JD from and performance audits of U.S. foreign assis- represents both BYU in 1992. tance to countries in southern and eastern domestic and interna- Africa. tional clients. In addi- 1991 Rollins earned a BA in international tion to his law prac- relations from BYU in 1981 and an MBA tice, Varner has been recognized by the Paul Whitlock is a business engagement from BYU in 1983. He and his wife, Nancy, California State Senate for his extensive ser- manager within the Intel supply network reside in Montclair, Virginia. vice to the education community in South group. His responsibilities include managing Orange County, including serving six years the integration of acquisitions from a supply 1985 as a director of the Capistrano Unified chain perspective and working with Intel School District Foundation, as well as serv- start-up businesses on developing supply Joel and Barbara Loosli volunteered for the ing on the district’s Instructional Material chain models. 2002 Olympic Winter Games. Joel worked at Reviews Committee and Career Education Whitlock earned his BS in business the Olympic Village as an entry control Advisory Committee. management from the Marriott School in assistant, and Barbara worked at Little Varner also served on a select panel 1991 and his MBA from the University of America Hotel in events services. of delegates to the National Assessment of Utah in 1996. He, his wife, Tracie, and their Joel is the quality systems manager for Educational Progess (NAEP) in St. Louis, four sons reside in Gilbert, Arizona. Fairchild Semiconductor in West Jordan, Missouri, in an effort to establish Utah. He recently published a paper, “Internal Quality Auditing” for the Quality Audit Division of the American Society of Alum Rated No. 1 Analyst in Oil Industry Quality and presented it as its annual conference in Atlanta. Leaping from third to first, this analyst’s bullishness through- Joel earned his BS in electrical engi- out last year was distinctly rewarded. Ted A. Izatt was recog- neering in 1989 from BYU and an MBA in nized by Institutional Investor magazine as the No. 1 All- 1994 from the Marriott School. Barbara American fixed income analyst for energy. Izatt, senior vice earned her BS in accountancy in 1984 and a president of Lehman Brothers, Inc., is responsible for credit MAcc in 1985 in financial audit from BYU. research coverage of oil and gas on a global basis. He joined Joel and Barbara reside in Riverton, Utah, the company’s fixed income research department in July 1997. with their four daughters. Institutional Investor highlighted Izatt’s outstanding credentials, including his ability to move markets, his significant 1988 relationships within the oil and gas industry and with investors, and his ability to see beyond financials to truly understand company management. David Kitchen has When Lehman Brothers, Inc., announced last November that it might split Marathon been promoted to Oil Co., its energy division, and U.S. Steel, its steel division, USX bonds widened forty basis managing director of points on fears that USX debt would be placed with the lower-rated U.S. Steel. In early Wells Fargo Bank. December, Izatt urged investors to buy at the wider level, arguing that if the company were Currently the divided, USX’s public debt would stay with higher-rated Marathon. “He was 100 percent Southwest Regional right,” recounts a bondholder. “In April, when USX announced the restructuring, it said all Manager, Kitchen is its public debt would be refinanced or stay with Marathon. USX subsequently tightened by responsible for finan- fifty basis points, generating 366 basis points of excess returns over treasuries.” cial risk management sales in five states. Before his employment with Lehman Brothers, Inc., Izatt worked for Moody’s He joined Wells Fargo in April 2000, Investor’s Service. His most recent assignment was managing director of the global oil and after six years with First Union Bank in gas group. In this capacity, he had responsibility for the ratings of oil and gas companies Charlotte, North Carolina. and energy-related project financing throughout the world. Before his appointment as Kitchen earned his BS from Arizona managing director, he was a senior analyst covering project finance and numerous compa- State University in 1986 and his MBA from nies including integrated oils, exploration and production, oil services, and drilling. Izatt the Marriott School in 1988. He and his earned his BA in journalism in 1980 and his MBA in 1982 from BYU. Izatt also served for wife, Pam, live in Mesa, Arizona, and are the three years as a member of the Marriott School Alumni Board. He resides in The parents of three sons. Woodlands, Texas.

summer 2002 29 Alumni News

1992 School, Martin Humphries was promoted to Ashley. Lloyd earned her BS in business information systems manager of Ballard management with a finance emphasis from Nidal Al-Bawab is the Medical Products in Draper, Utah. Upon the Marriott School in 1997. organization clerk for graduation, IBM hired him as a senior I/T the Arab Bank’s orga- Services Specialist for IBM Global Services. 1998 nization department. He now installs RS600 midrange His duties include set- Internet computers across the United States Elisa Nummela Lambourne has joined the ting up organization for IBM. Humphries earned his BS in audit division of Andersen and received her charts for the Arab finance in 1983 and his EMBA from the license to practice as a certified public Bank local branches Marriott School in 1995. He resides in St. accountant. Lambourne earned her MAcc and analyzing work volume for foreign Paul, Minnesota. from the Marriott School in 1998. She branches. The Arab Bank has branches resides in Midvale, Utah. spread throughout the world in diverse loca- Eric McLaughlin, M.D., began residency tions such as New York and Chile. training in emergency medicine at St. Paul Palmer is the chief financial officer, vice Before working for the Arab Bank, Al- Vincent Mercy Medical Center in Toledo, president, and treasurer of Sierra Health Bawab worked for Wal-Mart’s Hypermart in Ohio, in July 2001. He graduated with a BS Services, Inc., a publicly traded holding com- Garland, Texas, where he assisted in organiz- in accountancy from the Marriott School in pany. Sierra Health Services, Inc. owns ing special marketing events. Health Plan of Nevada, Southwest Medical Al-Bawab is one of the alumni officers 1995 and from New York Medical College in Associates, and other operations in who assisted in establishing the BYU chapter May 2001. McLaughlin will complete his res- California and on the east coast. Before join- in Amman, Jordan. Members of the chapter idency work in June 2004. ing Sierra, Palmer was a manager at Deloitte meet annually with BYU officials. Al-Bawab & Touche. Palmer earned his BS in accoun- resides in Amman, Jordan, with his wife, 1997 tancy in 1986 and his MAcc and MBA in Niveen, and daughter, Rihab. He earned his 1988 from the Marriott School. He and his BS in finance from the Marriott School in Kim LeeMaster Lloyd is working for Apex wife, Treasa, have six children and reside in 1992. Training and Development as a senior finan- Henderson, Nevada. 1995 cial analyst. Lloyd and her husband, Mike, reside in Dallas, Texas, where Mike is attend- Jonathan Spackman was promoted to ing medical school at UT Southwestern Internal Audit Manager at Franklin While pursuing an MBA at the Marriott Medical Center. They have one daughter, Templeton Investments. His responsibilities

Alum Uses Rafting Metaphors and Expeditions to Teach Leadership Skills

The alignment of paddle strokes, says David Hanna, is a key component of a successful rafting team. “On the river, the consequence of misaligned members is known immediately—the boat moves to the left or to the right rather than in a straight line,” he said. In the business world, the consequences of misaligned members are not so obvious, but just as harmful in terms of goal achievement, Hanna said. Hanna, founder of Confluence Consulting, feels it’s not too much of a stretch to use rafting metaphors to help leaders experience how natural laws govern the survival of all living systems. “Participants have some new and exciting experiences when they come on the river,” Hanna said, “and the new environment helps them see things about the workplace that they might not notice otherwise.” Each Confluence Expedition aims to help participants reapply the river’s lessons about alignment and teamwork to their work group and organization. “Our participants find our programs to be bottom-line oriented,” Hanna said. The mission of Confluence Consulting is to partner with leaders at all levels, helping them to align people, systems, and natural laws to create an enduring standard of excellence. A former senior consultant with Franklin Covey and Procter & Gamble, David has consulted with executive teams and their organizations in North and South America, Europe, Russia, Australia, and Asia. He is experienced in the areas of principle-centered leadership, strategic planning, organization diagnosis, high-performance work design, executive development, and team development. His clients include General Motors, Conoco, Xerox, Saturn, Siemens, Shell, SC Johnson, Novell, Metro Cash & Carry, and Philips. Because of his ongoing work as an organizational consultant, he frequently travels back and forth between the United States and Europe. Hanna earned a BA in communications in 1973 and an MOB from the Marriott School in 1974. He and his wife, Charlotte, reside in Mapleton, Utah. They have five children.

30 MARRIOTT Alumni News include audits of all U.S. corporate depart- Andersen, Baker Smith’s foray into politics came in ments, various consulting services, and man- worked as a tax pre- 1992 when he was elected to the Oregon agement of the California Internal Audit staff. parer for H&R Block State Senate. He earned a BA in history Franklin Templeton Investments is a and as an accounting from BYU in 1976 and a law degree from worldwide money management company supervisor for Southwestern University in 1979. After with approximately $266 billion under man- WestPro. Baker earned working as an attorney in private practice, agement. Spackman earned his MAcc from his BS in accountancy Smith assumed management of his family’s the Marriott School in 1998. He and his wife, in 1999 and his MAcc frozen vegetable processing company, a Debra, reside in Antelope, California. They from the Marriott School in 2001. He and position he held until his election to the have four children and are expecting a fifth. his wife, Laura, reside in Vancouver, U.S. Senate. Smith and his wife, Sharon, Washington. have three children. They maintain homes 2000 in Pendleton, Oregon, and Bethesda, Gregory Hall is a lead Maryland. Todd Hillstead never systems integrator “The annual dinner routinely draws dreamed he’d be an with GE Medical from 650 to 1,200 people—an indication of investment advisor. System’s ultrasound the success of the chapter in the D.C. area,” But his ideas changed business. His respon- Dickson said. when, at age eighteen, sibilities include time, he bought five budget, and resource Mesa/Phoenix Area Schools Network Microsoft shares from management in the with Chapter Professionals money he had saved creation of technical training courses for from a summer lawn-mowing job. “The GE’s field engineers. The Mesa/Phoenix chapter of the stock split into ten and again into twenty,” Hall’s recent accomplishments include Management Society has set up two LDS Hillstead said. “I took that as a cue that there six-sigma certification and being chosen to Institute lecture series—one at Mesa might be something to investing.” forecast his division’s annual budget and par- Community College and another at Arizona Hillstead is now a financial advisor for ticipate in global audit to streamline GE’s State University (ASU). The Executive the Mony Group in Phoenix, Arizona. “I internal education costs. Hall earned his BA Lecture Series is headed by Arizona chapter thought I was going to fit the mold and go in Spanish from BYU in 1997 and his MBA president Sterling A. Baer. with a Big Five firm,” he said. But, the Mony from the Marriott School in 2001. He and his Baer said LDS professionals in the area Group caught his eye. Hillstead knew an wife, LuAnne, a BYU alumna in therapeutic travel to the two campuses—Mesa associate at the company. “I wanted to sur- recreation, reside in Milwaukee, Wisconsin. Community College, monthly, and ASU, round myself with success, and he was the weekly—during lunch hour. The speakers Management Society News epitome,” Hillstead said. “I knew if I worked address issues facing business professionals with him, I’d become better.” He has since that are often not communicated at work. passed his series seven licensing exam. Washington, D.C., Chapter Hosts Annual “They discuss an array of business topics Hillstead earned a BS in finance from the Gala applicable to religion—ethics, for example,” Marriott School in 2000. He resides in Baer said. “These are influential and dynamic Phoenix, Arizona. The Washington, D.C., chapter of the BYU speakers who really impact the students.” Management Society hosted its annual gala Baer said that one student who attend- Kit M. Lindsey works as the assistant to the dinner 16 March at the Fairview Park ed the series on a weekly basis landed a job mayor of the City of Holladay, Utah. Lindsey Marriott in Falls Church, Virginia. The event through her networking skills. “Students has also been elected chairman of the featured speaker Jane Clayson, a BYU gradu- come and feel they’re being matriculated Incorporation Committee of Cottonwood ate and weekday morning cohost of The into the business environment, because it Heights. Lindsey graduated with his MPA Early Show on CBS. gives them an opportunity to interact with from the Marriott School in 2000 and Also in attendance was Senator Gordon professionals,” Baer said. resides in Salt Lake City. Smith, who was given the annual Distinguished Public Service Award. “We 2001 chose Senator Smith because of his diligent For information on Management Society service in the Senate,” said chapter president chapters in your area, contact: Nate Baker is a staff auditor for Andersen in Mark Dickson. Senator Smith has served as Portland, Oregon. He is involved with the a U. S. senator from Oregon since 1997. He Rixa Oman commodities trading floor at Portland is a member of four major Senate commit- (801) 422-6824 General Electric and helps with the ongoing tees: Energy and Natural Resources; Foreign [email protected] implementation of FAS 133: Accounting for Relations, Budget, and Commerce; Science; or go online: Derivatives. Before his employment at and Transportation. marriottschool.byu.edu/mgtsoc

summer 2002 31 Annual Report

2001 financial report

Current Additional Proposed endowment Funding Level Funding Required Level 12/31/07

Dean's Endowment 8,574,800 3,425,200 12,000,000

Centers and Institutes Entrepreneurship 4,174,300 5,825,700 10,000,000 International Management 5,988,600 5,011,400 11,000,000 Study of Values 621,600 378,400 1,000,000 Institute of Marketing 2,475,000 1,525,000 4,000,000 Perry Institute for Financial Services 1,929,600 3,070,400 5,000,000 Romney Institute 2,895,800 1,104,200 4,000,000 e-Business 1,998,500 10,001,500 12,000,000 Minority Initiatives 121,900 6,878,100 7,000,000

Centers and Institutes Subtotal 20,205,300 33,794,700 54,000,000

Other Existing Endowments Chairs 4,803,600 1,196,400 6,000,000 Professorships 9,185,000 5,815,000 15,000,000 Faculty Fellowships 813,100 2,186,900 3,000,000 Student Scholarships 10,283,700 1,716,300 12,000,000 Research/Other 3,248,000 1,752,000 5,000,000

Other Endowments Subtotal 28,333,400 12,666,600 41,000,000

total 57,113,500 49,886,500 107,000,000

summary of cash inflow summary of cash outflow

University Budget 71.5% Salaries and Benefits 72.4%

Non-Endowed Gifts and Grants 17.0% Student Support 13.0%

Endowment Earnings 10.5% Technology and Supplies 11.1%

Non-Endowment Interest and Other 1.0% Travel 3.5%

32 MARRIOTT Annual Report

current operations 1999 2000 2001

Endowment Earnings 1,673,300 1,933,900 2,947,900 Interest, Revenue, Market Adjustments 537,800 1,017,800 272,300 Gifts/Grants to Working Capital 6,063,300 3,822,100 4,745,800

Total endowment8,274,4006,773,8007,966,000 deferred gifts

Trusts, Unitrusts, Etc. 9,886,900 Marriott 4,484,300 total 14,371,200

Millions donations $10 $8.83 $8.82 $7.67 $8.32 *University financial reporting changed $6.74 to calendar year in 1999 $5 $3.22 $2.12 $2.62 $1.97 $0 1992-93 1993-94 1994-95 1995-961996-97 1997-981998-99 2000* 2001

Graduate student demographics

Program MBA MAcc MISM MOB MPA Year of graduation 2003 2003 2003 2003 2003

Totalstudents 124 133 38 28 47 Women students 18 33 3 14 20 International students 16 5 5 4 4 Minority students 5 2 1 10 2 Married students 79 77 18 15 19 Returned missionaries 102 108 32 15 33 Bilingual 98 91 25 20 21 States represented 29 20 11 11 13 Countries represented 11 5 5 4 6 Undergraduate universities 32 4 4 6 8 Average age 28 24 22 29 24 Age range 23–41 20–44 18–33 21–49 21–32 Average GMAT score 660 580 610 529 560 GMAT range 550–760 510–630 540–750 420–760 387–690 Average GPA 3.54 3.63 3.58 3.52 3.57 GPA range 2.66–4.00 3.42–4.00 3.10–4.00 2.78–3.91 2.86–4.00

Undergraduate Majors Business/Accounting 24% 98% 97% 54% 6% Engineering 24% 0% 0% 0% 0% Humanities 23% 2% 0% 18% 11% Physical Science/Math 5% 0% 0% 0% 6% Social Science 6% 0% 0% 21% 30% Economics 8% 0% 3% 0% 2% Other 10% 0% 0% 7% 45%

Undergraduate Institutions BYU 65% 98% 95% 46% 80% Other 35% 2% 5% 54% 20%

summer 2002 33 Annual Report

professorships, fellowships, Gardner, Robert L. Federal Taxation 2002: Albrecht, W. Steve. “Top Ten Reasons Why and chairs awarded in 2oo1 Comprehensive, Twelfth Edition.* Fraud is Increasing in the US,” Strategic Finance.* Phillip J. Bryson Glover, Steven M., Stephen Liddle, and Douglas and Effie Driggs Professor of Economics Douglas Prawitt. E-Business: Principles and Albrecht, W. Steve and Conan C. Albrecht. Strategies for Accountants. “Pro-Actively Detecting Fraud,” Financial Post. C. Brooklyn Derr The Staheli Professor of Organizational Behavior Gregersen, Hal B. Quantum Change @ Warp Baker, William H. “HATS: A Design Procedure and International Business Speed.* for Routine Business Documents,” Business Communication Quarterly. Gary F. McKinnon Gregersen, Hal B. Globalizing People Through Ford Motor Company Professor of Business International Assignments (Japanese transla- Baker, William H. “ProSoft Corporation,” Case Management tion).* Research Journal.

Terry Nels Lee Liddle, Stephen W. E-Business: Principles and Baker, William H. “Word Processing” and National Advisory Council Professor Strategies for Accountants. “Desktop Publishing,” Encyclopedia of Business and Finance. Stephen D. Nadauld McKell, Lynn J. Excel 2000: MOUS Edition. H. Taylor Peery Professor of Financial Services Barrick, John A. “The Effect of Code Section Romney, Marshall B. Fraud-Related Internal Knowledge on Tax Research Performance,” Faculty publications Controls. Journal of the American Taxation Association.

The following scholarly publications were writ- Romney, Marshall B. and Owen J. Cherrington. Bischoff, Sheri J. “The Four Umpires: A ten or edited by Marriott School faculty in 2001. Casebook in Accounting Information Systems.* Paradigm for Ethical Leadership,” Journal of Entries followed by an asterisk (*) indicate col- Business Ethics.* laborative work with outside authors. Space Sampson, Scott E. Understanding Service constraints do not allow for full citations; inter- Businesses: Applying Principles of the Unified Black, Ervin L. “Earnings Permanence and the ested parties may call (801) 422-4121 or email Services Theory, Second Edition. Information Content of Cash Flow Information in [email protected]. Thailand,” Asian Pacific Journal of Accounting Stoddard, Ted D. Principles of Written and Economics.* Scholarly Books Presentation for Management Communication. Brau, James C. “An Empirical Analysis of SBA Albrecht, W. Steve, James Stice, and Kay Stice. Thompson, Michael P. Becoming a Master Guaranteed Loans: Rates, Collateral, Agency Survey of Accounting. Manager: A Competency Framework, Third Costs, and Time to Obtain the Loan,” Journal of Edition. Entrepreneurial Finance.* Albrecht, W. Steve, K. Fred Skousen, James Stice, Kay Stice, and Monte R. Swain. Timm, Paul R. Business Communication: Brau, James C. “The Case of Enviro-Lawn: Managerial Accounting. Discovering Strategy, Developing Skills.* Valuing a Local Business,” Journal of Business Education.* Albrecht, W. Steve, K. Fred Skousen, James Whitlark, David B. Effectively Translating Stice, and Kay Stice. Financial Accounting, In-Depth Consumer Understanding Into Brau, James C. “The Determinants of Successful Eighth Edition. Communications Strategy and Advertising Micro-IPOs: An Analysis of Issues Made Under Practice.* the Small Corporate Offering Registration (SCOR) Albrecht, W. Steve, K. Fred Skousen, James Procedure,” Journal of Small Business Stice, Kay Stice, and Monte R. Swain. Critically Reviewed Scholarly Journals Management.* Accounting: Concepts & Applications, Eighth and Proceedings Edition. Bryson, Phillip J. “Economy and ‘New Economy’ Albrecht, Conan C. “Experiences with in the United States and Germany,” Cherrington, David J. and Laura Middleton. Collaborative Applications that Support Intereconomics: Review of European Economic Human Resource Certification Self-Study Distributed Modeling,” Hawaii International Policy. Program. Conference on System Sciences.* Burton, F. Greg “A User’s Willingness to Adopt Cherrington, David J., Sheri J. Bischoff, W. Gibb Albrecht, Conan C., Robert Jackson, Steve New Information Systems: The Influence of the Dyer, and Eric G. Stephan. Organizational Liddle, and Rayman Meservy. “A Peer-to-Peer Decision-Making Improvements and Effectiveness, Second Edition. Network Protocol for Genealogical Data,” Performance Monitoring Dimensions of the Workshop on Technology for Family History and System,” Journal of Information Systems.* Cherrington, J. Owen. CPA Review Reference.* Genealogical Research.* Cornia, Gary C. “E-commerce and the DeTienne, Kristen B. Guide to Electronic Albrecht, Conan C. and W. Steve Albrecht. “Can Single-Rate Sales Tax Proposal,” Municipal Communication. Auditors Detect Fraud: A Review of the Research Finance Journal.* Evidence,” Journal of Forensic Accounting.* Fawcett, Stanley E. Achieving World-Class Cornia, Gary C. “Electricity Deregulation the Supply Chain Alignment: Benefits, Barriers, and Albrecht, Conan C. and W. Steve Albrecht. Property Tax and School Finance,” Journal of Bridges.* “Conducting a Pro-Active Fraud Audit: A Case Education Finance.* Study,” Journal of Forensic Accounting.* Gardner, Robert L. Federal Taxation 2002, Crawford, Robert G. and Barrett A. Slade. Individuals, Fourteenth Edition.* Albrecht, W. Steve. “The Perilous Future of “Appraising Industrial Special-Purpose Accounting Education,” The CPA Journal.* Property,” The Appraisal Journal.

34 MARRIOTT Annual Report

Dean, Douglas L. “Improving Group Creativity: Glover, Steven M. “Analytical Procedures and Sampson, Scott E. “Frictionless Hypothesis of Brainstorming Versus Non-brainstorming Audit Planning Decisions: Unexpected Internet-Based Services,” Proceedings of the Techniques in a GSS Environment,” Proceedings Fluctuations That Influence Auditors to Revise 2001 Decision Sciences annual meeting. of the 34th Annual HICSS.* Their Audit Plans,” Journal of Accountancy.* Sampson, Scott E. “Improving Conference DeTienne, Kristen B. “Intranets and Business Glover, Steven M. “Using Regression Analysis to Service Levels with Scheduling Technology,” Model Innovation: Managing Knowledge in the Test Hedge Effectiveness Under SFAS 133,” Proceedings of the 2001 Decision Sciences Virtual Organization,” Knowledge Management PricewaterhouseCoopers Accounting and Audit annual meeting. and Business Model Innovation.* Policy.* Sanders, Wm. Gerard (Gerry). “Behavioral DeTienne, Kristen B. “Knowledge Management: Gregersen, Hal B. and Wm. Gerard (Gerry) Responses of CEOs to Stock Ownership and Understanding Theory and Developing Sanders. “Bundling Human Capital: The Impact Stock Option Pay,” Academy of Management Strategy,” Competitiveness Review: An of International Assignment Experience on CEO Journal. International Journal.* Pay and Multinational Firm Performance,” Academy of Management Journal.* Sanders, Wm. Gerard (Gerry). “Incentive DeTienne, Kristen B. and Karl L. Smart. Alignment, CEO Pay Level, and Firm “Assessing the Need for Printed and Online Hansen, James V. “Internet Commerce Security: Performance: A Case of,” Human Resource Documentation,” Journal of Business Issues and Models for Control Checking,” Management Journal. Communication.* Journal of the Operational Research Society. Slade, Barrett A. “A Metropolitan Dishman, Paul L. “Academics and Practitioners: Hansen, James V. “Some Experimental Evidence Transaction-Based Commercial Price Index: A Forging a Partnership,” Competitive Intelligence on the Performance of GA-Designed Neural Time Varying Parameter Approach,” Real Estate Review. Networks,” Journal of Experimental and Economics.* Theoretical Artificial Intelligence.* Dyer, Jeffrey H. “How to Make Strategic Slade, Barrett A. and Andrew Holmes. “Do Alliances Work,” Sloan Management Review.* Hansen, James V. and Ray Nelson. “Data Tax-Deferred Exchanges Impact Purchase Price? Mining of Time Series Using Stacked Evidence from the Phoenix Apartment Market,” Dyer, W. Gibb. “Network Marketing: An Effective Generalizers,” Neurocomputing. Real Estate Economics. Business Model for Family Owned Businesses,” Family Business Review. Heaton, Hal B. “Adjusting the Cost Approach for Slade, Barrett A. and Robert Crawford. Excess Operating Costs, Environment Cleanup “Appraising Industrial Special-Purpose Fawcett, Stanley E. “Gauging Organizational and Other Value Reductions,” The Journal of Properties: A Utilization-Based Measure for Commitment to Supply Chain Management,” Property Tax Management. Estimating Economic Obsolescence,” Appraisal Proceedings, Decision Sciences Conference.* Journal. Heninger, William Guy. “The Association Fawcett, Stanley E. “Process Integration for Between Auditor Litigation and Abnormal Stice, James D. “Misstatement Direction, Competitive Success: Benchmarking Barriers Accruals,” The Accounting Review. Litigation Risk, and Planned Audit Investment,” and Bridges,” Benchmarking: An International Journal of Accounting Research.* Journal.* Illes, Louise Moser. “Service-Learning: An Integrated Field Study Model,” Academic Swenson, Michael J. “Assessing the Fawcett, Stanley E. “Product and Employee Exchange Quarterly. Transportability of Measures Across Cultural Development in Advanced Manufacturing: Boundaries: A Personal Selling Context,” Implementation and Impact,” International Krumwiede, Kip R. “Further Evidence on the Proceedings of the Eighth Cross Cultural Journal of Production Research.* Auditor’s Going-Concern Report: The Influence Research Conference.* of Management Plans,” Auditing: A Journal of Fawcett, Stanley E. “Retail In-Stock Performance Practice & Theory.* Thorley, Steven R. “Return Dispersion and on Promotional Items: An Assessment of Active Management,” Financial Analysts Logistical Effectiveness,” Journal of Business LeBaron, Curtis Dale. “Dissecting Common Journal.* Logistics.* Ground: Examining an Instance of Reference Repair,” Proceedings of the Twenty-Third Annual Whitlark, David B. and Scott M. Smith. “Men Fawcett, Stanley E. “Ten Guiding Principles of Conference of the Cognitive Science Society.* and Women Online: What Makes Them Click?,” High-Impact Supply Chains,” Proceedings, Marketing Research. North American Symposium on Purchasing and Parsons, Robert J. “An Opportunity for HMOs to Supply Research.* Use Marketing to Increase Enrollee Whitlark, David B. and Scott M. Smith. “Using Satisfaction,” Managed Care.* Correspondence Analysis to Map Relationships: Fawcett, Stanley E. “What is Supply Chain It’s Time to Think Strategically About Positioning Management? Separating the Rhetoric from the Parsons, Robert J. and Gloria Wheeler. “Effect and Image Data,” Marketing Research. Reality,” Proceedings, Council of Logistics of Organizational Change on the Individual Management Educators Conference.* Employee,” Health Care Manager. Wilks, T. Jeffrey. “Predecisional Distortion of Evidence as a Consequence of Real-time Audit Fawcett, Stanley E. and Scott Sampson. “The Prawitt, Douglas F. “Does Congruence Between Review,” 14th Symposium on Auditing Impact of Dis-Intermediation on the Retail Audit Structure and Auditors’ Locus of Control Research—University of Illinois at Supply Chain,” Proceedings, Annual Meeting of Affect Job Performance?” The Accounting Urbana-Champaign. the Production and Operations Management Review.* Society. Woller, Gary M. and Warner Woodworth. Rhoads, Gary K. and Michael J. Swenson. “Microcredit: A Grass-Roots Policy for Gardner, Robert L., Boyd C. Randall, and Dave “Integrating Marketing Into the International Development,” Policy Studies N. Stewart. “Distributions of Property from Entrepreneurship Course: The Entrepreneur’s Journal. Estates and Trusts: Avoiding Income Tax Traps,” Marketing Toolkit,” Proceedings of the 2001 The Monthly Digest of Tax Articles Marketing Educators’ Association Conference.

summer 2002 35 Annual Report

national advisory Kent W. Colton Lloyd Hansen Ronald E. Malouf council President Vice President, Controller President, CEO K. Colton, LLC Ford Motor Company Malouf Company, Inc. Leora Marcheschi Nolan D. Archibald Richard E. Cook Stephen W. Hansen Chair, President, CEO Second Quorum of the Seventy Principal Dale J. Marquis The Black & Decker Corporation LDS Church Cabot Advisory Group President Invest West Financial Corp. and Larry Keith Bair Duke Cowley John W. Hardy Pacifica Hotel Co. CEO President President Columbia Ultimate Cowley Companies, Inc. USS Edge at US Synthetic Richard E. Marriott Business Systems, Inc. Chair of the Board Gary Crittenden Rodney A. Hawes, Jr. Host Marriott Corporation Gary S. Baughman Executive Vice President, CFO Chair, CEO President, CEO (retired) American Express Hawes Family Foundation D. Reed Maughan Fisher-Price, Inc. Partner Reed N. Dame John Hawkins PriceWaterhouseCoopers Lane Beattie President President Chief State Olympic Officer Woodgrain Millwork, Inc. Great Metro Autogroup Dimon R. McFerson Chair, CEO (retired) H. Brent Beesley Lee A. Daniels J. Frederick Huckvale Nationwide Insurance Enterprise Chair, CEO Partner and Managing Director Chair, President Heritage Bank Newbridge Capital LLC Millennial Management, Inc. Nyal D. McMullin Special Limited Partner (retired) William P. Benac Donald D. Davis Steven K. Hunt El Dorado Ventures Executive Vice President Senior Vice President, Employee Managing Practice Director of Grass Valley Group Relations (retired) Business Consulting Ralph R. Neilson CSXTransportation Arthur Andersen LLP Partner, Director of Real Estate V. Stanley Benfell LeBaron Investments Executive Vice President, CMO Richard C. Decker Sterling Jenson Beneficial Life Insurance Co. President, CEO Senior Managing Director Ted D. Nelson Centex Commercial Development WellsCapital Management Chair, COO J. David Billeter Opal Concepts, Inc. Vice President (retired) Sheri Dew Warren C. Jenson Zions First National Bank Executive Vice President, CFO Glenn W. Nielson Publishing Amazon. com Chair W. Brandt Brooksby Deseret Book Y-Tex Corp. CEO John A. Jex Bungee International Alan Folkman Partner (retired) Jim H. Nuckols Private Investor Deloitte & Touche President, CEO George Boyack Brunt The Sporting News Senior Vice President, General Rex Franson Daniel W. Jones Counsel, Secretary Managing Director National Director Assurance & Melvin E. Olsen Alcatel Americas Operations and Support Advisory Services Vice President (retired) Office of Information Technology Professional Practice American Airlines A. Bradford Bryan, Jr. BYU Deloitte & Touche Executive Vice President, Richard M. Oveson Architecture and Construction Shelli Gardner Warren Jones Senior Vice President, Research Marriott International Co-Founder, CEO Chair (retired) and Development Stampin’ Up Hehr International, Inc. Faneuil Group Lewis E. Burnham (retired) Robert C. Gay John M. Knab Stephen B. Oveson Phillips Petroleum Company Managing Director Chair, CEO Quorum of the Seventy Bain Capital Phonex Broadband LDS Church Daniel W. Campbell Managing General Partner Greg Geiger J. Christopher Lansing Robert E. Parsons, Jr. EsNet, Ltd. Director, European Business President, CEO Executive Vice President, CFO Strategy & New Business Ted Lansing Corporation Host Marriott Corporation Joseph A. Cannon Development Chair of the Board Ford Motor Company Michael Kevin Lee Dan R. Paxton Geneva Steel Managing General Partner President Robert E. Greene Dominion Ventures Organizational Leadership Kent H. Cannon President Resource, Inc. President, CEO Evergreen Ventures, LLC Franklin Lewis Beneficial Life Insurance Co. MSTAR.NET Alan G. Perriton Thomas R. Grimm President, GM Korea & Wilford A. Cardon President, CEO Robert Lloyd Vice President, GM Asia Pacific Partner Sam’s Club Vice President, Site Services and General Motors Corporation Cardon Oil Co. Executive Vice President Facilities Management Wal-Mart Stores, Inc. Microchip Technology Inc. L. Tom Perry Ralph Christensen Councilofthe Twelve Apostles Senior Vice President, Human Robert P. Haight James R. Long LDS Church Resources Mission President Executive Vice President (retired) Hallmark Cards, Inc. Canada Vancouver Mission Nortel Networks Douglas Scott Peterson Office Managing Partner Don R. Clarke Albert E. Haines Stephen S. Lundgren Ernst & Young President (retired) Chief Administrative Officer Area General Manager Lord & Taylor City of Houston Marriott International

36 MARRIOTT Annual Report

Ronald A. Rasband David E. Sorensen Mary Carlston Dean Ossola Quorum of the Seventy Quorum of the Seventy Vice President Financial Advisor Area Presidency LDS Church GMAC, Commercial Mortgage UBS PaineWebber LDS Church LeRoy K. Speirs Douglas B. Carter Brent Peterson Rulon E. Rasmussen CEO (retired) Executive Vice President, CFO CEO President Maison Investment Management (Retired) Conseco Bank Rasmussen Financial Group Co. Galaxy Latin America Mark Peterson James W. Ritchie Donald L. Staheli Paul Carter CFO President Second Quorum of the Seventy Vice President, Strategic Marketing Phoenix Coyotes NHL Team Ritchie Foundation LDS Church emWare, Inc. Area Director, Church Education Paul Peterson SE Africa Gary E. Stevenson Richard Crandall Executive Vice President, President, COO CFO Single Family Division V. Eric Roach Icon Health & Fitness, Inc. Crandall & Associates Consulting Freddie Mac Executive Vice President Dietitians, Inc. Morgan Stanley Dean Witter Stanford C. Stoddard Melvyn J. Reeves Advisors Chair Ron Ellis Officer Enhanced Michigan Trust Bank President, CEO Benefit Insurance Group, Inc. Ronald E. Robison Endocyte Managing Director, COO John A. Taylor Dale Sirrine Investment Management and Manager of Media (retired) Tim Fisher Finance Manager Managing Director, President Procter and Gamble Co. Part-Time Instructor Procter & Gamble Institutional Funds Marriott School and Morgan Stanley Jackie Trujillo Former Director of Latin America Everett Smith Chair of the Board Microsoft Controller, Director of Tax and SEC Kevin B. Rollins Harman Management Corporation Reporting Vice Chair Tab French Icon Health & Fitness, Inc. Dell Computer Corporation G. Roger Victor Vice President Principal Union Bank Matt Smith W. Mitt Romney Buerk, Craig Victor, LLC Director, HR Development Chair Brad Haws BYU Salt Lake Olympic Committee and Olene Smith Walker CFO Managing General Partner Lt. Governor Intermountain Health Care, Stephanie Sorensen Bain Capital State of Utah Physician Division Billing Operations Manager I-Link, Inc. Blake M. Roney Mark J. Wattles Michael Haymond Chair Chair, CEO, Founder Major Account Executive Karen Z. Taylor NuSkin Enterprises Hollywood Entertainment Factiva, A Dow Jones & Reuters Teacher Specialist Company Davis School District George C. Scott David Weidman Business Consultant CEO Robert Hild Mark Webb Celanese Chemicals Principal Vice President Finance, Controller Ralph F. Severson Invest West Capital, LLC NextPage Limited Partner (retired) Robert A. Whitman Goldman, Sachs & Co. CEO Mitch Hill Robert I. Webber Franklin Covey President, CEO President, CEO K. Fred Skousen Work Well Systems, Inc. Silicon Film Technologies, Inc. Advancement Vice President Kay R. Whitmore BYU Chair, President, CEO (retired) Richard B. Hutchins Matthew T. Weed Eastman Kodak Company Senior Tax Partner Assistant Vice President Andrew Kim Smith Novogradac & Company, LLP Intermountain Health Care Vice President Mark H. Willes Goldman, Sachs & Co. Mission President Dix Jarman Dawn Wells-Nielsen Honolulu, Hawaii CEO, Partner Product Manager E. Jeffery Smith Polywood Products Verio, Inc. Chair Robert B. Young Studeo Interactive Direct Vice Chair, COO (retired) Michael Jensen Dow R. Wilson Alexander Hamilton Life General Partner, Managing Director General Manager, H. Pete Smith IVW Functional Imaging Executive Vice President, CFO marriott school alumni GE Medical Systems (retired) Patrick “Ed” Lamb Ultramar Diamond Shamrock board Vice President Finance Douglas E. Witt Fremont General Corporation Merchant Relations Director Menlo F. Smith John M. Ames TCH Chair CFO Kevin Lund Sunmark Capital Corp. Ten Fold Senior Investment Officer Rudiger H. Wolf Unum Provident Corporation Partner Nicholas Smith Tina Ashby Accenture Chair, CEO Freelance Writer Steven C. Merrell GE Capital I-Sim Owner Steven Yates Brian Brandenburg Willow Ridge Capital Advisors Senior Manager K. Brent Somers Vice President Mortgage Portfolio Ernst & Young Senior Executive Vice President, Management Jim H. Nuckols CFO Freddie Mac President, CEO KeyCorp The Sporting News

summer 2002 37 Annual Report

master of organiza- David Staffanson Olene Walker Larry Bair tional behavior adviso- MOB–OBSA President Lieutenant Governor President BYU State of Utah Columbia Ultimate ry board Marcus Walton Business Systems, Inc. Greg Stewart Strategic Relations Director, KIVA Claire Averett Faculty Sandy, Utah Don Ballantyne Vice President, Human Resources Marriott School President NuSkin Enterprises, Inc. Chad Westover Ocean Business Services Michael Paul Theobald Administrator Kathy Buckner Director, OD and Training Children’s Health Insurance Lisa Bearnson Vice President of Consulting LDS Church Program President, Editorial Director Services Utah Department of Health Creating Keepsakes Magazine BT Novations romney institute school of accountancy Keath Bills Ralph Christensen advisory board Partner Senior Vice President, Human and information Bills Investment Resources Manuel Acosta systems advisory board Hallmark Cards, Inc. U.S. State Department Blaine Bowman Chris Andersen President, CEO W. Gibb Dyer J. David Billeter Controller Dionex Corporation Faculty Vice President (retired) Worldwide Consulting Marriott School Zions First National Bank Bill Brady Robert Call President, Owner Starr L. Eckholdt Kent Colton Partner Brady Industries, Inc. Founding Partner Senior Scholar Deloitte & Touche Corporate Systems Design Joint Center for Housing Studies, Brandt Brooksby Harvard Bob Dalley CEO Paul Gustavson Controller, Chief Accounting Officer Bungee Int’l Manufacturing President Jay Covington PacifiCorp Organization Planning & Design Chief Administrative Officer Denny Brown City of Renton, Washington James G. Darby Chair David Paul Hanna Director, Human Resources Brown Publishing Founder Kathleen H. Gordon Deere & Company Confluence Consulting President, Board Member Henry Brown Working Capital Florida Mike Holt President Brent G. Heslop Partner Brown and Brown Chevrolet Manager, Human Resources Albert E. Haines KPMG, LLP Strategy Chief Administrative Officer Fraser Bullock Eli Lilly and Company City of Houston, Texas Steven W. Hobbs COO, CFO Andersen, LLP Salt Lake Olympic Committee Curt J. Howes Byron D. Jorgenson Senior Manager Chief Administrative Officer H. John Marsh, Jr. Page Busken Accenture City of Sandy, Utah Managing Director–FMD President, Owner Federal Farm Credit Banks Busken Bakery, Inc. David Kinard Ronald E. Malouf HR Manager President, CEO Scott Peterson Chris Cannon Eli Lilly Corp. Malouf Company, Inc. Partner Congressman Ernst & Young Cities of Provo-Orem Kate Kirkham Sam Racadio United States Government Faculty City Manager Keith Prescott Marriott School City of Highland, California Partner Bill Child Wisan, Smith, Racker & Prescott CEO Paul K. Madsen Charles M. Richards R.C. Willey Home Funishings Director, Human Resources Executive Vice President Boyd Randall Merck & Co., Inc. Netzel Associates, Inc. Director, SOAIS Craig Christenson BYU President, CEO Paul D. McKinnon G. Scott Romney Christensen Automotive Group Vice President, Human Resources entrepreneur founders Dell Computers Gordon H. Smith Kirby Cochran U.S. Senator, Oregon CEO J. Weldon Moffitt Dixon Abell Red Rock Capital Faculty (retired) Richard V. Strong President, CEO Marriott School Director (retired) Abell Corporation Bill Compton Legislative Research and General Chair, CEO Jodi Morrison Counsel Jay Allen Tropical Sportswear Int’l MOB Career Liaison State of Utah Attorney BYU Private Legal Practice Jonathan Coon Edward D. Thatcher CEO, President Lee Tom Perry City Manager Dee Anderson 1-800-CONTACTS Associate Dean City of Greenville, Texas CEO Marriott School Alexis Telecom, Inc. Chuck Coonradt Bill Thomson President, Chair N. J. Pesci Director of Performance Auditing Kent Archibald The Game of Work, Inc. OD Manager Office of the Auditor General President, CEO Procter & Gamble Fund State of Arizona Medwave, Inc. Stephen Covey Cochair Alan Ashton Franklin Covey Co. Ashton Family Foundation

38 MARRIOTT Annual Report

Martin Culver Bob Hazen Dale Marquis Louis Pope President Owner President President Fresh Choice Restaurants Robert D. Hazen, CPA Pacifica Real Estate Group U.S. Synthetic Corp. W. Douglas Horne Mel Potter Kelly Dame President John D. McCoy Owner, President Vice President Horne’s Lodging Properties President Potter & Son, Inc. and Woodgrain Millwork, Inc John D. McCoy Sales, Inc. DuBayCranberry Co. Paul Hulme Larry Daines Founder, Chair John McKeon Bill Price CEO Alain Pinel Realtors, Inc. Vice President Director Decor Concepts, Inc. Howard & Phil’s Western Wear Institute of Marketing, BYU Eric Jackson Ron Dodson CEO Nyal McMullin Dana Thornock Rasmussen President Great Basin Companies Special Limited Partner President R.C. Dodson & Company El Dorado Ventures Danmar Steve Jenkins Craig Earnshaw CEO Larry Miller Marty Rasmussen CEO Vservers.com CEO President LifeLink Corp. Larry H. Miller Group Happijac Company Gerald C. Johnson Max Farash President Michael Morgan Bill Raymond, Sr. Founder, CEO J. Cyril Johnson Investment Corp. President, CEO Chair, CEO The Farash Corporation StarTek The Walton Company Darryl Jorgensen Ross Farnsworth Supervisor Jerry Moyes John Richards Owner, President LDS Church Elevator Services President, CEO Vice President Farnsworth Development Co. Swift Transportation Co, Inc. InfoSpace, Inc. Ron Kimball Rick Farr Founder, CEO Steve Nelson Stan Ricks Owner Conceptual Development Corp. President, CEO President, CEO C. Eric Farr & Associates Unishippers Associates Trophy Homes John Knab Craig Faulkner CEO Mike Nicholes Jim Ritchie President Phonex Corporation CEO President Emerald Publications MNI Ritchie Enterprises Richard Knapp Kenny Fisher President Joseph Ollivier Dan Roberts President Univ. Properties, Inc., & Affiliates Founder President Kenny the Printer First Capital Development The Financial Resource Group Glade Knight Jim Fraser CEO, President Mel Olsen Blake Roney President, CEO, Chair Cornerstone Realty Income Trust Retired Chair Brighton Bank American Airlines NuSkin Enterprises, Inc. Chris Lansing Scott Frazier President, CEO John Ord Lee Ross Owner Ted Lansing Corporation Owner CEO Apple Tree Investments Ord Properties, Inc. American Energy Operations, Inc. Dennis Larkin Richard J. Galbraith Sole Proprietor Warren Osborn Jim Sheffield Dennis P. Larkin & Associates President Mission President Steve Gibson Ah-ha.com, Inc. Mississippi Jackson President Klaus Lassig Barclays Investments Founder, CEO, President Stephen Oveson John Simcox Lassco Sound & Systems Quorum of the Seventy Larry Gibson LDS Church Jeff Smith Executive Vice President Ron Lindorf Partner Henry Schein, Inc. Owner, CEO Dave Perry Cerberian Western Wats President, CEO Bob Granum Cascade Toy Sharon Smith Owner Larry Linton President, Chair Granum Partners Founder, CEO Willian O. Perry Smith Frozen Foods, Inc. Water Tech Industries CEO Melvin Green Perry Homes, Inc. Menlo Smith CEO Don Livingstone Chair Creative Color Director, Professor Scott R. Petersen Sunmark Capital Corporation Center for Entrepreneurship, BYU CEO Ron Gunnell Planet Salvage Hyrum Smith CEO Kyle Love Chair, CEO The Paradigm Group President Brent Peterson Franklin Covey Corporation Utah Valley Entrepreneurial Forum Vice President, Center for Research Kevin Hall and Assessment LeRoy Speirs Guru’s Restaurant Jim Loveland Franklin Covey Company President, Chair, CEO President, CEO Synthonics Technologies, Inc. Bela Hatvany Xactware Information Services, Inc. Greg Peterson Director Managing Partner Terry Stimson SilverPlatter Information Mel Marion GH Peterson, LLC President Manufacturer’s Rep Stimson Enterprises Hat Brands, Inc.

summer 2002 39 Annual Report

Bud Stone Mark Bonham institute of marketing Steve Rasmussen Owner, Partner Partner advisory board Rasmussen Financial Group Stone and Associates Wilson Sonsini Goodrich & Rosati Jenna Adair Barrett A. Slade Tom Stone Paul Charles Regional Director Faculty Partner President Mervyn’s California Marriott School Stone and Associates I-dreambig.com Gene Buhler Michael J. Swenson Paul Sybrowsky Bernard Daines Senior Manager Faculty President CEO Sears University Marriott School Management Dynamics, Inc. World Wide Packets Steven R. Thorley G. Kent Burnett Faculty Phil Thomas Richard Dance Chair, CEO Marriott School CEO President Dillard’s, Phoenix Division DOBI Medical Systems, LLC SoftResources LLC Robert B. Young Rod Lacey Faculty Dale Waite John S. Fuller Director of Human Resources Marriott School President,CEO Director Melaluca Frameworks Manufacturing Vanteon *The institute is in the process of Gordon M. Erickson organizing an advisory board. Bruce Walborn Berkeley Geddes Senior Vice President, General Additional representatives from Managing Director COO Merchandise Manager the industry will be added. Park Management Company, LLC WhizBang! Labs Wal-Mart

John Walton George Harrington Don Holman President Hardware/Software Consulting Vice President, Store Operations Doors Plus, Inc., Sun Mountain IBM Walgreen Company Corp. Harvard H. Hill Jay Lentz Don Watkins Managing General Partner Senior Vice President, Human CEO Houston Partners Resources American Covers, Inc., Computer Payless ShoeSource Accessories Eliot Jacobsen Daniel J. Sweeney David Watson Josh James Vice President Owner CEO Consulting Services America Sonic Drive-In MyComputer.com Sam Taylor Craig Willett Steve Jenkins Vice President, International Owner, Managing Member CEO Lands’ End, Inc. Chesapeake Bay Investments, LC CheatCodes.com Joel Wiest Gary Williams Christopher Leach CFO President, CEO (retired) Owner Target Stores Sterling Wentworth Leach Consulting & Accounting Carl Wojciechowski R. Kirk Wilson Richard Nelson Group Vice President Mission President President, CEO Fred Meyer Stores Ohio Cincinnati Mission Utah Information Technology Association Julie Clement Hal Wing Manager, Field Recruitment Owner, CEO Brad Oats Kmart Stores Wing Enterprises, Inc. Vice President Stone Capital & Lexus Nexus Don Wood peery institute of Owner, CEO John E. Richards financial services* Dynatec International, Inc. Vice President Info Space Clark DeWall Rick Woodbury Deutsche Bank President, CEO Dallan Quass Woodbury Corporation President, CEO Donald H. Livingstone WhizBang! Labs Faculty Ray Zinn Marriott School President, CEO Kevin Rollins Micrel, Inc. Vice Chair Dimon R. McFerson Dell Chair, CEO (retired) rollins ebusiness Nationwide Insurance Enterprise center advisory board Rudiger H. Wolf Partner Craig Merrill Accenture Faculty Paul Ahlstrom Marriott School Managing Director Douglas Young vSpring Capital Manager Stephen D. Nadauld Exxon/Mobile Company USA Director, Peery Institute Doug Allred Marriott School Senior Vice President Cisco Systems Inc.

40 MARRIOTT Annual Report

managegement society MINNESOTA, MINNEAPOLIS UTAH, SALT LAKE CITY UNITED KINGDOM chapter presidents Jere Clune Chris Feinauer Rowland Elvidge (763) 391-0417 (W) (801) 534-6003 (W) 01727-863995(H) [email protected] [email protected] [email protected] ARIZONA, MESA/PHOENIX Sterling A. Baer MISSOURI, SPRINGFIELD UTAH, ST. GEORGE area contacts (602) 217-2298 (W) David Warren(417) 831-4100 (W) Kim Anderson [email protected] [email protected] [email protected] ALABAMA, BIRMINGHAM Frank Sutton CALIFORNIA, EAST BAY NEVADA, LAS VEGAS UTAH, UTAH VALLEY (205) 939-8311 (W) R. Jay Ripley Larry Moulton Boyd Hales [email protected] (925) 827-4692 (W) (702) 307-9800 (801) 764-9387 (W) [email protected] lmoulton@bankofcommerce- [email protected] CALIFORNIA, VENTURA nevada.com David Watts CALIFORNIA, LOS ANGELES VIRGINIA, BLUE RIDGE (888) 680-1239 Dennis Fors NEVADA, RENO Cheryl Morris(540) 776-6937 (W) (231) 345-8059 (W) R. Craig Eyre [email protected] FLORIDA, EMERALD COAST [email protected] (775) 829-1999 (W) Dennis Conger [email protected] VIRGINIA, SOUTHERN (850) 837-5366 (W) CALIFORNIA, ORANGE COUNTY VIRGINIA UNIVERSITY William Chapman NEW HAMPSHIRE, NEW ENGLAND (Blue Ridge Subchapter) HAWAII, HONOLULU (714) 550-7720 (W) CHAPTER Jordan Councill John P. Monahan [email protected] Lance Spencer (540) 261-4388 (808) 395-4079 (H) (603) 791-5286 (W) [email protected] [email protected] CALIFORNIA, SACRAMENTO [email protected] Whitney F. Washburn WASHINGTON, D.C. IDAHO, IDAHO FALLS (916) 638-8400 (W) NEW MEXICO, ALBUQUERQUE Mark A. Dickson Paul Ahlstrom [email protected] Keith Mortensen (202) 223-1685 (W) (208) 525-4047 (W) (505) 896-8996 ext. 4 (W) [email protected] CALIFORNIA, SAN DIEGO [email protected] INDIANA, INDIANAPOLIS Mike Hood WASHINGTON, SEATTLE Steve Morgan (760) 752-7848 (W) NEW YORK, NEW YORK Robert Haynie (317) 277-7577 (H) [email protected] Scott Trotter (206) 654-7590 (212) 580-1919 (W) [email protected] MARYLAND, BALTIMORE CALIFORNIA, SAN FRANCISCO [email protected] Jon Michael Anderton Richard Hutchins international chapters (410) 895-4603 (W) (415) 356-8008 (W) N. CAROLINA, RALEIGH [email protected] [email protected] Mark Bethers ARGENTINA, BUENOS AIRES (919) 522-0441 (W) Claudio Salerno MASSACHUSETTS, BOSTON CALIFORNIA, SOUTH BAY [email protected] 54-3327-458-343 (W) Josh Halverson Jack Little [email protected] (781) 246-2900 (408) 351-4231 (W) OREGON, PORTLAND [email protected] [email protected] Rick Garlock AUSTRALIAN-SYDNEY (503) 296-5232 Jonathon Fisher NEBRASKA, OMAHA CALIFORNIA, VISALIA [email protected] 61-2-9489 3746 (W) Keith Rhoades S. Dee Baughman [email protected] (402) 280-6120 (W) (559) 622-2401 (W) PENNSYLVANIA, PHILADELPHIA [email protected]. Joe Kerry BRAZIL, SAO PAULO OHIO, COLUMBUS (610) 361-0355 (H) Helton Vecchi Larry Thomas COLORADO, DENVER [email protected] (5511) 5563-8222 ext. 2177 (W) (614) 781-0472 Ron Pierce [email protected] [email protected] (303) 299-8198 TENNESSEE, NASHVILLE [email protected] Juli Bennett CANADA, CALGARY OREGON, CORVALIS (615) 754-5198 (W) Robert E. Price Andrew E. Jones FLORIDA, ORLANDO [email protected] (403) 213-5407 (W) 1-800-787-1691 (W) Dave Portlock [email protected] [email protected] (407) 352-7006 (W) TEXAS, DALLAS [email protected] Curtis Harshaw CHILE, SANTIAGO OREGON, SPOKANE (972) 602-8500 (W) Jose R. Riveros Larry Longhurst GEORGIA, ATLANTA [email protected] 56-2-735-1423 (W/Fax) (509) 893-1415 (W) Greg Bluth [email protected] [email protected] (770) 330-8116 (W) TEXAS, EL PASO [email protected] Alan Gluth HONG KONG TENNESSEE, CHATTANOOGA (915) 546-8209 (W) Cora Wong Mark Mendenhall IDAHO, BOISE [email protected] (852) 2525-7406 (423) 755-4406 (W) Roger Wright [email protected] [email protected] (208) 322-6340 (W) TEXAS, HOUSTON [email protected] Elmo Robinson KOREA VIRGINIA, RICHMOND (281) 648-6400 (W) Lee L. Wright Jon Blaser ILLINOIS, CHICAGO [email protected] (822) 7914-3216 (W) [email protected] Paul S. Haglund (312) 558-9000 (W) UTAH, CAMPUS CHAPTER SINGAPORE WYOMING, AFTON [email protected] (801) 422-5791 AC Ho Noel N. Nelson BYU Graduate Chapter (65) 838 9201 (W) (307) 883-4853 MICHIGAN, DETROIT Steve Arner [email protected] Rob Schoenhals BYU Undergraduate Chapter (248) 576-2969 (W) Marc Uda [email protected]

summer 2002 41 Leah Hogsten/The Salt Lake Tribune

MARRIOTT SCHOOL NATIONAL ADVISORY COUNCIL MEMBER AND SLOC PRESIDENT MITT ROMNEY (CENTER) AND BYU MBA GRADUATE AND SLOC CHIEF OPERATING OFFICER FRASER BULLOCK (LEFT) RECEIVED OLYMPIC GOLD ORDER MEDALS, IOC’S TOP HONOR, FOR THEIR OUTSTANDING ORGANIZATION OF THE NINETEENTH OLYMPIC WINTER GAMES. MEDALS WERE PRESENTED BY IOC PRESIDENT DR. JACQUES ROGGE AT THE 2002 WINTER OLYMPIC CLOSING CEREMONIES AT RICE-ECCLES OLYMPIC STADIUM, SALT LAKE CITY, 24 FEBRUARY 2002.

MARRIOTT SCHOOL • BRIGHAM YOUNG UNIVERSITY • 490 TANNER BUILDING • PROVO, UTAH 84602-3140