CarlsonSchoolA MAGAZINE FOR ALUMNI AND FRIENDS / CARLSON SCHOOL OF MANAGEMENT UNIVERSITY OF MINNESOTA SPRING 2003 Professor Ian Maitland, one of several Carlson School faculty members conducting research into business ethics issues GoodBusiness Why ethics are more important than ever, and how the Carlson School is working to create ethical business leaders. Carlson School A MAGAZINE FOR ALUMNI AND FRIENDS For information about Carlson School alumni programs, contact Alumni Relations at [email protected]. The Dean’s Corner Visit our Web site at www.carlsonschool.umn.edu. Carlson School is published for alumni and friends of the Carlson School of Management. Direct correspondence to: Alumni Relations, Office of the Dean, 321 19th Ave. S., n my first full year as dean, I have been keenly aware of the challenges Minneapolis, MN 55455. facing not only business education, but also our alumni working in a rapidly changing business world. EXECUTIVE EDITOR/DIRECTOR OF MARKETING I Jayne Jones In response, we are making fundamental changes to the way we teach EDITOR business and serve the community—changes to curriculum, to program Chris Mikko structures, to alumni services, and to the way the Carlson School markets itself. ART DIRECTION These changes provide students with Barbara Koster Design hands-on learning opportunities tailored CUSTOM PUBLISHING SERVICES to their career paths, and with practical The Coghlan Group experience in applying what they learn to CONTRIBUTING WRITERS Sara Aase, Suzy Frisch, Sara Gilbert, real business environments. The result is Joel Hoekstra, Kate Peterson, Mary Lahr Schier, that students are better prepared for the Michael Weinbeck, Beth Weixel, Mac Wylie challenges of business. PHOTOGRAPHY Kevin Horan, Bud Lee, Mark Luinenburg, We also aim to better serve our alumni, Dan Marshall, Sanford Schulwulf, who face real business challenges day after Brandon Sullivan, Diana Watters day. The Carlson School enjoys strong ties ILLUSTRATION Jean Tuttle to the business community that create a OFFICE OF THE DEAN vibrant business environment at the Lawrence Benveniste school and allow businesses and alumni Dean Dennis Ahlburg to benefit from what we do here. Senior Associate Dean, and One way we serve alumni is to share the Associate Dean of Faculty and Research new ideas and knowledge we generate. In John Anderson Associate Dean of Administration this spirit, we’ve made some changes to Stefanie Lenway the look and focus of our alumni Associate Dean of MBA Programs magazine, Carlson School. The revised magazine addresses the issues and Robert Ruekert problems that face our alumni every day, and we hope you find it appealing, Associate Dean of Undergraduate Programs Michael Houston engaging, and useful. Associate Dean of International Programs This issue’s cover story provides a valuable look at ethics in the workplace, a Jen Gelbmann topic too often seen as a secondary concern. In fact, ethics are central to Director of Alumni Services & Outreach business success. The article shares the insights of experts and business Steven Hatting Executive Director of Corporate practitioners into the competing pressures people face and the questions all & Alumni Services businesses and their employees must ask themselves. A number of prominent Chris Mayr Carlson School professors—including Norm Bowie, Ian Maitland, and Karen Chief Development Officer Schnatterly—weigh in on the role of ethics in the business environment and ADVISORY BOARD LEADERSHIP James Campbell, ’64 BSB offer glimpses into their own innovative research on responsibility. Chair, Board of Overseers Another issue of ardent debate in business circles is the value of the MBA Brent Blackey, ’80 BSB degree. Does it matter? The featured article on the MBA provides answers and Chair, Alumni Advisory Board Robert Buuck, ’70 BSB, ’72 MBA perspectives from a number of people—professors, business leaders, and Vice Chair, Board of Overseers alumni—who offer their take on what an MBA means in the workplace. © 2003 by the Regents of the University of Minnesota. The redesigned magazine is just one of the changes we’ve made to answer All rights reserved. the needs of alumni. We invite your feedback and are eager to hear about issues Accredited by AACSB International— important to you in your everyday work lives. Send your thoughts to TheAssociation to Advance Collegiate Schools of Business The University of Minnesota is an equal opportunity [email protected]. We look forward to hearing from you. educator and employer. Sincerely, MISSION STATEMENT The mission of the Carlson School of Management is to provide the highest quality education for present and future business and academic leaders, and advance Lawrence Benveniste the understanding and practice of Dean management through research and outreach. CONTENTS Spring 2003 Mahmood Zaidi, NAEFFA fellow and subject Mary Alice Pappas, ’84 MBA, of this issue’s 5 Questions feature. See page 32. on the value of an MBA. See page 22. INSIDE FRONT COVER: The Dean’s Corner Carlson School Dean 20 Health Conscious: Nazie Eftekhari, ’79 MHA, offers a Larry Benveniste on the value of sharing the new ideas and the prognosis for the healthcare industry’s coming changes. knowledge the Carlson School generates. 22 Does an MBA Matter? Despite conflicting reports 2 The Atrium: LEAD introduces students to about the degree’s value, the MBA still pays off, business, Jim Campbell finds himself busier than Carlson School alumni say. ever, Ross Levine climbs the charts, and more. 30 Class Notes FEATURES 32 5 Questions: A chat with Carlson School Professor 8 Cover Story—Code of Ethics: Ethical dilemmas Mahmood Zaidi. are the stuff of renewed focus these days. How can companies stay on the straight and narrow and still INSIDE BACK COVER: Time Capsule: A look back at Eddy Hall. make money? 14 Across the Board: Carlson School faculty research FRONT COVER: CARLSON SCHOOL PROFESSOR IAN MAITLAND, covers the spectrum of business ethics issues. PHOTOGRAPHED BY MARK LUINENBURG ANews and updatestrium from around the Carlson School and beyond. Mary Jane Madden, an assistant professor butter for more than a month,” she notes. Cultural in the Carlson School’s Healthcare Man- “But since most of the packages are not ‘see- agement program, has been spending the through’ and my Turkish is lacking, I always last two semesters learning the ins and outs ended up with a variety of yogurt. Instead, Exchange of life in Ankara, Turkey, as a Fulbright I began to settle for raspberry jam because Mary Jane Madden adjusts Scholar. Madden joined the faculty at the it comes in glass jars.” to life in a distant land. Hacettepe University School of Nursing Deciding to tackle the butter problem to lecture nursing students on developing head-on, Madden looked up the correct educational and curriculum standards, Turkish word for butter in her translating teaching research skills, and leadership dictionary. Armed with the correct phrase development. written on paper, she returned to the store “I find that professional issues here have and found exactly what she was looking for. many of the same roots as professional Fearing she’d never find butter again, she issues in the United States,” says Madden, bought enough to last her until she returns who has been a University of Minnesota to Minnesota this summer. faculty member for more than 15 years. Along with teaching nursing classes in “It is clear that the learning from this Ankara, Madden will work with faculty experience goes both ways—and that the development in areas of research and lead- opportunities for cultural exchange are just ership. As her Turkish language skills emerging.” progress, her work will extend to creating The Fulbright Scholar Program is spon- leadership development programs at hos- sored by the U.S. Department of State’s pitals and healthcare facilities. “Most of the “Professional issues [in Turkey] have many of the same roots as Bureau of Educational and Cultural Affairs. problems in Turkish healthcare, including professional issues in the United It supports some 800 American professors those at Hacettepe University Hospital, are States,” says Carlson School Assistant Professor Mary Jane visiting about 140 countries each year. related to the lack of planned growth and Madden. Adapting to life in Ankara hasn’t always ‘one-person’ decision-making, instead of a gone smoothly, and adventures come at sur- team approach,” she explains. “Healthcare prising times and places, according to Mad- is fragmented, professionals frustrated, and den. For example, she had a hard time strong visionary and consistent team lead- finding the products she wanted on her first ership desperately needed.” trips to the grocery store. “I had wanted —Michael Weinbeck COMMUNITY Do the profiles of Carlson School alumni that appear in this magazine strike a chord with you? Are you interested in learning more about participating in the school’s MATTERS alumni community? Help prepare a You can make a difference at the Carlson School by becoming more involved— new generation and by donating your time, talent, and treasure. of business leaders To learn more about how your time and talent can benefit the school, contact fortomorrow’s Jen Gelbmann, director of alumni services and outreach, 612-626-9486, challenges. [email protected]. To learn more about how your financial support can benefit the school, contact Chris Mayr, chief development officer, 612-624-4193, [email protected]. 2 University of Minnesota FACT: Sphere, the 13-foot-diameter sculpture that hangs in the Carlson School’s atrium, is suspended from the ceiling with a set of 14 24-foot-long aluminum and glass rods attached to stainless steel suspension cables. Designed by Portland, Ore., artist Ed Carpenter, the piece is meant to symbolize the global interconnectedness and collaborative spirit of the Carlson School. Home Work Jim Campbell has been retired for nearly a year. So why is he busier than ever? Jim Campbell retired as chairman and CEO of Wells Fargo Bank Minnesota in June 2002.