SPRING 2017 B Miami UNIVERSITYusiness OF MIAMI SCHOOL OF BUSINESS ADMINISTRATION You have the introducing new dean Data. john quelch Now What? the five-year Value in the Era of Analytics ceo itch CV1BusMi_Spring 17 R7.indd 3 6/20/17 12:21 AM The University of Miami School of Business Administration invites you to honor the individual WHO BELIEVED IN YOU MOST College was fun! So many memories. Perhaps a favorite professor, mentor, administrator, program or department made a difference in your college experience and ultimately your personal and/or professional life. Say thank you with a School of Business Tribute. Your donation will allow the School of Business to continue its mission developing innovative ideas and principled leaders that transform global business and society, while your honoree will receive a “Because of U” ink pen with a special note on your behalf. Our goal is to keep the University of Miami the vibrant and vital learning institution you remember. Visit miami.edu/SBAtribute to say thank you and make your donation *Minimum donation of $25 requested 00-21_FOBAlumniRelations2017_TributeAD_0504.indd Spring 17R15.indd 2 1 6/20/175/4/17 9:486:09 AMPM Developing Global Leaders at the Crossroads of the Americas® The University of Miami School of Business Administration Contents VOLuMe x x, nuMBer 1 tDePar Ments: f2 rom the Dean invites you to 3 at the forefront New Dean John Quelch honor the individual 4 thought Leadership Stock prices more noise than signal; the five-year CEO itch; space in 2232 retail; financial risk-taking 7 Insights WHO BELIEVED features:. Chris Matthews on leadership; what businesspeople can learn 2 2 the Data Machine from hostage negotiators; nour- How companies are using analytics to get value ishing the entrepreneurial spirit; IN YOU MOST out of all the information they collect. quantitative easing’s consequences; women in leadership 27 under the surface Using behavioral finance to study financial 10 Out in front decision-making. Students consult in Latin America, Álvaro Uribe talks with students, 30 starting Young Alex Rodriguez Courtyard dedica- Helping students finish school. tion, impact investing, Focus on Israel and more 32 a Generation of entrepreneurs College was fun! So many memories. Perhaps a favorite professor, mentor, administrator, The Business Plan Competition: new winners add 19 faculty news program or department made a difference in your college experience and ultimately your to a strong history. 21 In the news personal and/or professional life. 37 Disruptive forces in real estate Faculty experts on Brexit, block- chain for data, planning your week- Brick and mortar retail isn’t dead, secondary cities end and other timely topics are rising and more. Say thank you with a School of Business Tribute. Your donation will allow the School of 4 7 events Business to continue its mission developing innovative ideas and principled leaders that 40 Business Learning on the road Commencement and other events Graduate students’ studies in India and China. transform global business and society, while your honoree will receive a “Because of U” 51 alumni news 42 Port Competitiveness and security 5 6 How I Did It ink pen with a special note on your behalf. Two hemispheric conferences at the intersection Allan and Patti Herbert on winning of logistics and security. gold at the Chelsea Flower Show Our goal is to keep the University of Miami the vibrant and vital learning 44 The Business of Health Care Post-election institution you remember. Industry experts on what’s next in the sector. 3 4 40 32 Visit miami.edu/SBAtribute to say thank you and make your donation *Minimum donation of $25 requested COVER ILLUSTRATION: TRACI DABERKO TRACI ILLUSTRATION: COVER Spring 2017 BusinessMiami 1 AlumniRelations2017_TributeAD_0504.indd 1 5/4/17 9:48 AM 00-21_FOB Spring 17R15.indd 1 6/20/17 6:09 PM [ frOM the Dean to our next level of excellence Volume XX I Number 1 I spriNg 2017 as the school transitions to a new programs. Applications for our various interiM Dean dean with the appointment of John specialized master’s programs are up Anuj Mehrotra Quelch, I would like to thank our dramatically, and we will see record Vice Deans alumni, parents, corporate partners, enrollment this fall. In addition, we Michael Tsiros faculty, staff and other friends in the will grow with the inauguration of a Arun Sharma Ann Morales Olazábal (MBA ’97) community for your support during the new Master in Health Administration past year. I have been energized by the program. In all of our programs, we executiVe Director, aluMni relations opportunity to meet many of you in continue to evolve to meet the shifting & DeVelopMent South Florida and across the country needs of business – introducing critical Nancy Hullihen [email protected] while participating in President Julio thinking and “learning to learn” initia- executiVe Director, coMMunications Frenk’s “We Are One U” tour and tives in many courses, for example. Jeff Heebner other events in my role as interim dean. Finally, in June, we received re- [email protected] Working together, we continued the accreditation from AACSB Interna- eDitorial Director Rochelle Broder-Singer momentum that the School has expe- tional, an important mark of excellence [email protected] rienced in recent years. For instance, in business education. Managing eDitor we have just finished a banner year in It has been an honor for me to serve Amber Barry terms of fundraising. Just as impor- as the School’s interim dean, and I contriButing Writers tantly, the School of Business is more very much look forward to contribut- Karen-Janine Cohen, Lauren Comander, Peter Haapaniemi, Doreen Hemlock, Jennifer engaged than ever with the business ing to the School’s success as we move LeClaire, Jennifer Pellet, Tracy Simon, community and the business leaders forward. Thank you once again. Richard Westlund (MBA ’83), Bob Woods who serve on the School’s advisory Please join me in welcoming John Design Director boards. We have grown the number Quelch as the School’s new dean. With Paul DiMattia of companies we partner with for your support and guidance, I am confi- coMMunications specialist Krystal Guerra student projects and internships, and dent he will lead the School to our next printing our student job placement rates have level of excellence. The Lane Press Inc. increased significantly. eDitorial office We added new events this year, Warm regards, University of Miami School of Business Administration focused on topics such as women in 1320 South Dixie Highway, Suite 955 leadership and international logistics. Anuj Mehrotra Coral Gables FL 33146 And we grew the size, attendance and Interim Dean, Leslie O. Barnes Scholar, (305) 284-3141 [email protected] scope of our annual conferences. I in- and Professor, Management Science vite you to read about the insights from [email protected] BusinessMiami is published by the University of Miami these and other events in this issue of School of Business Administration, Office of Com- BusinessMiami. munications. No portion of this magazine may be repro- We also continued to strengthen and duced in any form without prior permission from the publisher. Nonprofit postage paid at Burlington, Vt., and grow our unique portfolio of academic other locations; Permit #175. © 2017 by the University of Miami, An Equal Opportunity/Affirmative Action University. All rights reserved. Mission statement: to develop innovative ideas and principled leaders that transform global business and society. 2 BusinessMiami Spring 2017 The UM experienCe 00-21_FOB Spring 17R15.indd 2 6/20/17 6:09 PM f ore front School of Public Health – the first ever to hold dual primary appointments in the public health and business schools, and one of only a few faculty members across Harvard University with this distinction. “Dr. Quelch is a renowned scholar on globalization and a proven academic leader internationally,” said UM President Julio Frenk. “He is a great addition to our senior team and is poised to take the School of Business Administration to its next level of excellence. I am thrilled to welcome him.” Prior to his recent time at Harvard, Quelch served as dean, vice president and distinguished professor of international management of the China Europe International Business School (CEIBS) from 2011 to 2013. Under his leadership, annual revenues increased by more than 25% to over $100 million; the school’s MBA global ranking in The Financial Times improved from 24 to 15 and its Executive MBA ranking from 18 to 7; and the school launched programs to integrate faculty and staff activities at the three CEIBS campuses in Shanghai, Beijing and Shenzhen, as well as the CEIBS campus in Ghana. From 1998 to 2001, Quelch served as dean of the London Business School, where, among other accomplish- ments, he helped transform the school into a globally competitive institution and launched seed capital funds to invest in student and alumni startups. new Dean John Quelch Joins In 1979, Quelch initially joined Harvard Business School, holding a number of positions over the years, including school of Business July 1 Sebastian S. Kresge Professor of Marketing, co-chair of the marketing department and Lincoln Filene Professor tHe sCHOOL Of BusIness has a new dean: John Quelch, of Business Administration. He served as senior associate who will assume the role on July 1. Anuj Mehrotra, who dean of Harvard Business School from 2001 to 2010. was vice dean for graduate business programs and execu- Quelch is the author, co-author or editor of 25 books, as tive education and a professor of management science, well as numerous business case studies on leading inter- served as the interim dean while the global dean search national organizations.