McCombs School of Business Advisory Council Meeting Sara Martinez Tucker Chairman of the Board of Regents McCombs Advisory Council Meeting: Dean’s Update November 10, 2017 Jay Hartzell, Dean UT Update and President Fenves’ priorities • Upward mobility • Experiential learning • Faculty initiative McCombs update: strategic plan preview • Attracting and retaining talent • Leveraging our talent • Telling our story UT Update and President Fenves’ priorities • Upward mobility • Experiential learning • Faculty initiative • Dean Searches • School of Information • College of Education • College of Natural Sciences • New Vice Provost for Diversity – Dr. Ted Gordon • Current Chair of the Department of African and African Diaspora Studies • Purpose will be to enhance and grow our UT’s diversity-related faculty recruitment Attracting diverse talent Leveraging our talent Telling our story • Faculty • Knowledge creation • Engaging external • Staff • Knowledge constituents • Students dissemination • Initiatives • Alumni and external • Academic programs • Marketing and branding constituents • Strategic areas & • Key cities capabilities • Infrastructure McCombs School of Business: Strategic Plan Preview • Attract and retain excellent faculty • Focus on thought leadership and impact • Diverse portfolio • Shape the way the world thinks about business • Connect theory to practice • Initiatives • Attract next generation of star faculty – University Distinguished Chairs • Retain our top faculty – increase endowment support for faculty in early stages of career Example of Attracting Talent: Faculty • Joined McCombs faculty fall 2017 • Hired as part of the faculty investment initiative • Expert in health care management & pioneer in the application of operations management to health care management questions • Program Director of National Science Foundation since 2014 • President of the Health Applications Society • Has more than 60 publications, with 25 in “A” journals • From University of Minnesota • Professor of Industrial & Systems Engineering • Ph.D. in Management Services, University of Waterloo, Canada Example of Attracting Talent: Diwakar Gupta, Professor, IROM Department Detecting anomalies using artificial intelligence – radiological anomaly detection (“dirty bombs”) The goal: detect gamma radiation anomalies • Defuse a radiological dispersal device • Monitor a port or a border crossing • Find a lost source (e.g. at a hospital) Example of Retaining Talent: James Scott, Associate Professor, IROM Data collection: Summary of findings: The proposed method leads to substantial improvements in time-to-detection for the kind of radiological anomalies of interest in law-enforcement and border- security applications. Impact: Collaboration between subject-area experts and data scientists. Statistical modeling that draws insight from other disciplines. Example of Retaining Talent: James Scott, Associate Professor, IROM (2) Brain Drain Results: . The mere presence of one’s own smartphone reduces available cognitive capacity—even when people are not using or consciously thinking about their phones. Phone location did not affect sustained attention . Phone location did not affect self-reported thoughts about one’s phone . In a second study… . Results are identical even when phones are turned off (it really isn’t about using your phone) . Effect is moderated by individual differences in smartphone dependence—those who depend on their devices the most suffer the most from their presence. Example of Retaining Talent: Adrian Ward, Assistant Professor, Marketing Innovative and distinct programs • Utilize unique student experience at top research university • Advantages of experiential learning • Position students for business and societal needs of the future • Market needs and trends • Our competitive advantage Example of Leveraging our Talent START-UP SCIENCE (A McCombs + CNS Entrepreneurship Intensive Program) • Focus on science-based entrepreneurship • Classes made up of McCombs BBA and College of Natural Sciences UG students • Evidence-based coursework on developing innovative ideas, designing business models, creating business plans, etc.; incorporates extensive experiential learning • Courses are part of Entrepreneurship Minor (launching in Fall 2018) Semester Curricular Co-curricular (Herb Kelleher Center + CNS UG Program Office) (McCombs) Fall 2017 MAN 327: Innovation & Speaker events (HKC’s Entrepreneurship Live! + science-based Entrepreneurship entrepreneurship speaker events organized by CNS); Treks to incubators and other Austin entrepreneurship ecosystem orgs., etc. Spring MAN327E: New Mentoring meetings with HKC Entrepreneurs-In-Residence; pitch 2018 Venture Mechanics coaching and demo day presentations; HKC Texas Pitch Competition START-UP SPORTS (Focus on Sports-Related Entrepreneurship) Launching in Fall 2018 • In collaboration with the Center for Sports Leadership and Innovation (CSLi) Example of Leveraging our Talent: Entrepreneurship Enhance and elevate our reputation • Maximize value of our brand • Engage external constituents • Focus on key cities and industries Two Examples • Educative Education – TOWER Fellows Program • Marketing and branding study Telling Our Story “TOWER” = (Texas Opportunity for Wellness, Exploration, and Renewal) • Targeting accomplished, post-career leaders, retirees, and “transitioners” for an engaging nine-month academic experience • Gives participants the opportunity to take courses from across the campus, along with a curated mix of lectures, visits, and experiences • Based upon highly successful programs launched at Stanford and Harvard, and expanding outward Example of Telling Our Story: TOWER Fellows Program The Journey PHASE 1 PHASE 2 PHASE 3 PHASE 4 Complete Complete Jul-Aug Sept - Oct Brand Design/ In-market Audit Brand Messaging testing Cornerstones Competitive Concepting and Internal Review Positioning Development roll-out Development Quantitative and Brand Architecture Execution Qualitative Discovery Development Example of Telling Our Story: Marketing and Branding Who We Are: Our Brand Core Enterprising . Energetic, ambitious, adventurous, collaborative, cooperative, industrious, entrepreneurial, agile, dynamic, pioneering, risk takers Tenacious . Persistent, grit, hard-working, dogged, unyielding, action- oriented “do-ers” Curious . Inquisitive, singular, inquiring, questioning, innovative, flexible, open Authentic . Reliable, honest, transparent, credible, inclusive, accountable, generous, friendly Example of Telling Our Story: Marketing and Branding (2) Future Our Elevator Pitch: Positioning Statement Focused The future is coming fast. Economic, environmental, social, and technological changes are accelerating at breakneck speed, yielding business models and opportunities that look nothing like the past. Are you ready? Leading in an unpredictable world requires knowledge and a new set of skills you can gain only through hands-on learning experiences led by preeminent business faculty in a challenging, yet supportive environment. A Texas McCombs education prepares you to confidently navigate an uncertain future. Example of Telling Our Story: Marketing and Branding (3) Future Our Elevator Pitch: Positioning Statement Focused You’re like us: curious, tenacious, and bold. When you come to McCombs, you earn lifetime membership in a vast community, distinguished by a unique combination of competiveness and collaboration. While each of us sets high standards for our own achievement, we work together to surface even better ideas and solutions that push business further, faster. The future of business is in Austin, a launch-pad for the ideas of enterprising thinkers and doers. From healthcare, to energy, to technology, business is at the center of developments that touch people’s lives around the world. Your McCombs experience will expose you to people and ideas you won’t see anywhere else and enable you to excel in opportunities you haven’t imagined. Example of Telling Our Story: Marketing and Branding (4) Our Purpose: Human Centered. Future Focused. Example of Telling Our Story: Marketing and Branding (5) Enhance the perception of our Goals Used to academic pedigree Refresh Brand Architecture Align more closely with the university’s master brand Increase the emphasis on Texas Updating Our Brand Architecture School Logos: Before and After Goals Used to New Logo Meets the Mark Refresh Brand Architecture Strengthen/Enhance the perception of our academic pedigree Align more closely with the master brand Increase the emphasis on Texas Bringing the Brand to Life in Market Bringing the Brand to Life in Market MARKET UPDATE | FALL 2017 AUSTIN, TEXAS AUSTIN MARKET | NEW CONSTRUCTION RETAIL Retail Construction (SF) (%) 1,200 10 9 1,000 8 CITY-WIDE OCCUPANCY 95% 800 7 5 600 Rate Vacancy 2017 TO 2019 SUPPLY PIPELINE <5% 4 400 3 2016 SUPPLY PIPELINE MARKET 2 2% 200 (in Thousands) 1 SF 0 0 2011 2012 2013 2014 2015 2016 2017 Retail Space Delivered Source: CBRE Research 2017 RIVERSIDE RESOURCES 2 AUSTIN | CITYWIDE OFFICE MARKET Austin Citywide Office Market Summary OFFICE (December 2000 - Q2 2017) (SF) (%) 3,000,000 100 PIPELINE OF NEW SUPPLY 2% 2,500,000 95 2,000,000 90 INCREASE IN RENTS SINCE 2010 40% 1,500,000 Occupancy 1,000,000 85 CITY-WIDE OCCUPANCY 94.4% 500,000 80 0 75 (500,000) 70 (1,000,000) 65 Absorption (1,500,000) (2,000,000) 60 SF | Additions (SF) Absorption (Net SF) Occupied (%) Source: CMR Semi‐Annual Apartment Update, December 2001 – June 2017 RIVERSIDE RESOURCES 3 Austin CBD Office Market Summary AUSTIN