Dividend University of Michigan Business School Winter/Spring 1998 Bill Davidson PORTRAIT OF A PHILANTHROPIST Plus: Teaching Leadership Noel Tichy Tells How ’98!’98!October 23-25 ReunionReunion Leave your behind. Don’t bother with your or your . Just plan to pack up your Go Blue! spirit and join your classmates, friends and faculty for the All-new, All-class Reunion ’98, October 23-25. Events will include the Michigan National Champions-vs-Indiana game, tailgate , class dinners, and much more. Reunion ’98 celebrates the Classes of ’58, ’73, ’78, ’88, ’93, ’97 and PhDs. the fun! Don’t miss For complete details and online registration:www.bus.umich.edu For volunteer information, or early registration call Alumni Relations (734) 763-5775 email:[email protected] Volume 29, No. 1 Dividend Winter/Spring 1998 2 Among Ourselves News of the Business School from Ann Arbor and around the world. 7 Quote Unquote Who is saying what…and where. 8 Hot on the Track of the New Entrepreneur Page 8 The Wolverine Venture Fund is a new seed capital fund with two distinct purposes: To invest in start-up companies founded by University of Michigan students, faculty or recent alumni and to teach Business School students the ins and outs and ups and downs of venture investing. 12 Drug Store Magnate Advances Entrepreneurship Arbor Drugs founder Eugene Applebaum says he endowed a chair in entrepreneurial studies as a way to assist Michigan’s aspiring entrepreneurs. 13 Women Wanted Michigan takes the lead—and launches a comprehensive national study—to find out why women aren’t pursuing MBAs at the same rates they are earning medical and law degrees. 16 Portrait of a Philanthropist The Business Administration Building has been renamed William Davidson Hall to honor the Business School’s most generous benefactor. SPECIAL SECTION Learn to Lead and Teach Others to Do the Same Special Section This exclusive interview with Noel M. Tichy, author and professor, premiers the Michigan Management Series, an ongoing section designed to deliver Michigan’s intellectual capital to Dividend readers— powerful information for practical application in business today. 21 Alumni Rally for the Rose Bowl 22 Reunion ’97 Sets Attendance Record 24 Club News and Calendar 26 Page 21 Class Notes The goings-on of friends and colleagues plus profiles of Robert Briggs, MBA ’28, John Ivanko, BBA ’88, Andrew Masterman, MBA ’93, Michael Berlin, BBA ’95 and Anthony Miller, MBA ’96. Cover Photo by Michael J. Schimpf Dean: B. Joseph White; Senior Associate Dean: Edward A. Snyder; Associate Deans: Gautam Kaul, George J. Siedel III Editor: Cynthia Shaw; Copy Editor: Fred Wessells; Contributors: Margaret Hooks, Paul Gargaro; Editorial Assistants: Julie Antis, Mary Joslyn Designer: Blue Pencil Creative Group, Ltd.; Photographers: Gregory Fox, Allen Einstein, D. C. Goings, Paul Jaronski, Kathi O’Leary, Michael J. Schimpf, Bill Wood Copyright ©1998 The University of Michigan Business School. This publication is produced by the Office of Communications and made possible through the generosity of private donations. AMONG OURSELVES Latin America Michigan Enters Brazil involved in the GMBA also dents will spend nine weeks adds up to a powerful in Ann Arbor, a seven-week he University of and GMBA administrators opportunity for faculty semester of elective courses TMichigan Business traveled to Rio for the to experience, learn and and a two-week session School—the only American official program kickoff bring knowledge back to devoted to leadership devel- business school to offer a full and welcome. GMBA is Ann Arbor.” opment and global manage- MBA degree program to already being offered in The program in Brazil ment communications. executives working abroad— Hong Kong and Korea began in March 1998 and “This program trans- has taken its Global MBA (see adjacent story). will end with the graduation ports business management to Brazil. “The Global MBA takes of the first class in January education from a top-class The first class of 41 stu- Michigan’s knowledge and 2001. Core courses are being school to those who can dents are managers and special ability to develop taught in São Paulo using a really benefit from it and executives employed by a effective managers to tal- combination of advanced who might not otherwise consortium of 11 companies ented people in emerging communication technology have this opportunity,” adds located in São Paulo and markets,” White says. “Our and periodic intensive four- Graham Mercer, director of Rio de Janeiro. In March, multi-level interaction with day classroom sessions with international programs. Dean B. Joseph White the top Brazilian companies Michigan faculty. All stu- Global MBA learning. Daewoo students program. “The Business then join their Michigan School, in turn, benefits Daewoo Extends Partnership classmates in Ann Arbor for from having 40 Korean stu- the final two semesters. dents on campus every he Daewoo Group learning technology and on- “The Daewoo Group year—students who bring Tof South Korea has site teaching. Michigan’s sig- benefits because each year high-level executive experi- extended its educational nature requirement, MAP, a handful of its most ence and in-class access to partnership with Michigan’s the Multidisciplinary Action promising employees gain Asian business thinking. Global MBA Program for Project, takes students into world-class management This is an extremely valu- five years beginning in 1999. new areas of the Daewoo training,” says E. Han Kim, able partnership.” Michigan developed organization for in-company academic director of the the innovative Global MBA in order to offer its advanced management degree pro- MBA Program gram abroad. Each year since 1996, 40 full-time Daewoo employees have Michigan To Educate Top Students entered the full-time transcontinental manage- from Transition Economies ment education program. The Global MBA contains nvesting in an Interna- became the program’s first associate dean. “Our selec- the same content as the Itional MBA is the name and only U.S.-based partner. tion by EBRD is an endorse- domestic MBA; only the of a student loan program The banks seek to pro- ment of our efforts there. duration and locations differ. offered by the European mote the transition to open It also means even more Prospective GMBA stu- Bank for Reconstruction and market economies and involvement in the region dents must meet the same Development and ABN private and entrepreneurial because the best and rigorous application criteria AMRO Bank to students initiative by financing the brightest from that part of as their stateside counter- from Central and Eastern management education the world will be studying parts including acceptable Europe and Central Asia. of its top students. at Michigan.” GMAT scores and a personal It is the only loan program “Michigan is highly effec- For more information, interview. The abbreviated of its kind in the region and tive in Central Europe and contact Philip E. Barta time frame—16 months— is the premier conduit for the former Soviet Union, at (734) 764-6309 or makes the instruction even the area’s top business talent. especially through the [email protected]. more rigorous. Classes In March, the University of Davidson Institute,” says are delivered via distance Michigan Business School Edward A. Snyder, senior 2 / WINTER-SPRING 1998 Manufacturing Snap Up TMI Students in September ark your calendars for organizations also came to MSept. 25. That is the learn firsthand about spon- day students at the Tauber soring projects and hiring Manufacturing Institute, the TMI students. Accounting manufacturing management Attendees receive a education program for engi- résumé book featuring team Business Leaders to Debate neering and MBA students project descriptions and the offered jointly by the vitas of each student International Standards University of Michigan member and see students Business School and the present detailed descriptions t won’t be High Noon, but it will be highly controversial College of Engineering, are of their projects. (The Iwhen accounting policy-makers and international business judged by representatives of Harley-Davidson team, for leaders meet on September 24 to debate “U.S. Generally Corporate America on example, led the audience Accepted Auditing Procedures in the 21st Century: The Role the results of their summer through a step-by-step of International Accounting Standards.” projects. It also has become analysis of their recommen- Participants include the chairman of the Financial the unofficial kickoff for the dations for systems improve- Accounting Standards Board, the president of NASDAQ, the recruiting season. ments that, they estimated, senior vice president in charge of research on foreign filings Last fall, 24 student would produce annual sav- from the New York Stock Exchange, an international represen- teams competed for $25,000 ings of around $60 million.) tative from the Securities and Exchange Commission and rep- in scholarship money and “Team projects must contain resentatives from several international accounting standards- invaluable exposure to both a business and an engi- setting groups. The roundtable discussion is part of the prospective employers. First neering component, have Business School’s ongoing Paton Accounting Center Harvey place went to the team on potential for strategic impact Kapnick Workshop Series. assignment at Boeing; the on the organization and “It is going to be an accounting extravaganza,” says Eugene Intel team came in second; offer a specific deliverable,” Imhoff Jr., Ernst & Young Professor of Accounting and chair of GM China, third; and Merck, says Marika V. Jones, man- the accounting faculty. “There is no single issue as important to fourth. Managers and execu- aging director of TMI. the profession or as critical to the global marketplace as the tives from 17 sponsoring For more information on role of international accounting standards.” firms were on hand for the Spotlight! 1998, contact the The debate will be held in Hale Auditorium.