MBA Class Gifts Set New Records
Amid tough economic times, the Wharton MBA class of 2004 raised a total class gift of $776,690 while setting new records for class gift participation. Combined participation of the East and West coast MBA for Executives classes and the traditional MBA class was 98.3 percent.
The graduating East coast and West coast MBA for Executives classes had an unprecedented 100 percent participation in raising a total of $327,772, including challenge gifts from Beth W. Nelson, WG’82. In honor of the participation record, Ms. Nelson offered an additional gift to bring the combined (East and West coast) Wharton MBA for Executives class gift total to $350,000.
Following a record-breaking year in 2003, the MBA class of 2004 set its own record with the highest-ever number of Wharton class gift donors: 764. Class participation was 95 percent, with 97 percent participation of international students. The total gift raised was $426,690, including $50,000 from an anonymous challenge donor.
Associate Dean for External Affairs Steven Oliveira stated, “The Wharton MBA Class of 2004 has made the largest graduating class gift in the history of any business school. We believe that this may also be the largest graduating class gift in the history of higher education. The level of participation achieved by this class is an inspiration to all Wharton Alumni.”
MBA Reunion Weekend Launches New Alumni Programs
Veteran alumni now have a network of their own. The Wharton Emeritus Society, one of two new alumni programs launched during 2004 Alumni Weekend, will help create a formal network and content-based programs of interest for graduates of 50 or more years. The second new program, MBA Alumni March (depicted on this issue’s cover), invites reunion-year alumni to don cap and gown and process onto Franklin Field, ushering new graduates into the world of Wharton alumni. For more information on Alumni Weekend events, visit www.wharton. upenn.edu/alumnireunion/2004index.html.
Meeting the World: Wharton Global Alumni Forums
Mexico’s economic growth toward globalization and the future of Latin American markets were among the dozens of panel discussions and speeches by government and corporate luminaries, including Fernando Canales Clariond, Mexico’s Economy Secretary, at Wharton’s Global Alumni Forum held on June 24-26 in Mexico City. The event, the last of three Wharton Global Alumni Forums held this summer, offered alumni the chance to network and learn with top corporate and government leaders who are impacting the business climate of Latin America. Topics included globalization strategy, the Hispanic market, energy, and pensions and growth. Juan Toro, the tax commissioner of Chile, Eduardo Wanick, CEO of DuPont Latin America and Alfredo Elias Ayub, CEO of the Federal Electricity Commission were among the roster of speakers.
The Wharton Global Alumni Forums are organized by alumni with the help of the School. In late May, the Moscow Global Alumni Forum addressed issues including emerging consumer markets and financing investment globally at a sold-out gathering the Moscow Times called “the first example in Russia of an international school putting on a large, publicized event …” Wharton’s presence was everywhere at the Shanghai Global Forum, held June 3-6, where welcome signs hung the airport walls and on city buses while a Wharton-emblazoned blimp flew over the city.
The sold-out Shanghai event brought together business and government leaders including Philip Murtaugh, chairman and CEO of GM China and Zhang Ruimin, chairman of the Haier Group, to discuss China’s unique banking system and foreign direct investment, among other topics. During the Shanghai event, the School also presented its highest honor—the Dean’s Medal—to K.P. Chao, chairman of the board of Novel Enterprises Ltd., for his exceptional leadership in advancing global business.
For more information on the Global Alumni Forums, visit www.wharton.upenn.edu/alumni/forums.
In fall 2004, Wharton undergrads will have new opportunities to experience business in practice. Three curricular innovations are being added: a business simulation addition to the core marketing course, a research pilot program, and a firm-specific consulting project. The new programs are outcomes of Wharton’s recently completed curriculum review.
Widely recognized as the best undergraduate business program, Wharton’s curriculum blends liberal arts with core business concepts, a combination that gives students a wider understanding of the social and cultural issues today’s businesses face. The recent curriculum review looked at ways to improve this undergraduate experience, bringing together two committees, an external one that consisted of deans from Harvard, Princeton, and the University of Michigan, and an internal task force that brought together nine faculty members from a variety of Wharton departments, to make recommendations.
Barbara E. Kahn, vice dean and director of the Undergraduate Division and the Dorothy Silberberg Professor of Marketing, says these curricular additions strengthen and enliven the School’s already ambitious offerings. The business simulation component to the core undergraduate marketing course, for instance, will bring undergraduates into teams that will manage a firm, making key marketing strategy decisions.
“One of things we think differentiates the Wharton undergraduate learning experience from other kinds of learning would be this experiential learning opportunity, that is, something outside of the traditional lecture/media mode,” Kahn says.
The new research pilot program pairs a student one-on-one with a faculty member in a semester-long research program. The “field challenge” program, to be piloted this fall, will take teams of undergraduates out into the business world. Working with a faculty advisor, the teams will come up with solutions for individual businesses.
“Wharton undergrads are an incredibly bright and talented group. They are very eager and work very hard,” says Kahn, who became the division’s vice dean in 2003 and teaches Introduction to Marketing to between 400 and 500 students each semester it is offered. “They are here for a longer period of time than the MBAs, so you can have more of a personal relationship with them. It’s a really nice opportunity to work with them. You feel like you can really make a difference.”
Knowledge @ Wharton to Introduce Chinese Language Edition
Few would deny that China is hot. Companies within China and around the world are searching for credible answers about how to do business in this must-play country, and Knowledge@Wharton will soon provide the knowledge they need. Wharton’s online business analysis and research journal will launch a Chinese version in early 2005, adding to its English, Spanish and Portugese versions. As well, Knowledge@Wharton and The Boston Consulting Group have partnered to create four special reports on China, the first of which, “China and the New Rules for Business,” is now available on the Knowledge@Wharton website in both Chinese and English at http://knowledge.wharton.upenn.edu.
The Chinese version of Knowledge@Wharton will target management leaders in China as well as Chinese-reading populations worldwide with a mix of tailored and existing content. The project, a year in the making, came together when both Dean Patrick Harker and Boston Consulting Group officials, led by a Wharton alum, expressed a simultaneous interest in creating real-world, online communications vehicles to tackle the opportunities and challenges of operating in China.
“Our original strategy is to have a two-fold engagement,” explains Mukul Pandya, editor and director of Knowledge@Wharton. “On one hand, there’s a huge hunger for information about how to do business in China among Western executives. All they have been getting is a lot of hype, or horror stories. Our opportunity is to tell stories for the benefit of a Western world that wants to figure out what’s really real. Then there’s a great hunger in China too about business in the West, and for them, having access to a place like Wharton is crucial.”
Wharton alumnus Hal Sirkin, W’80, a senior vice president at BCG and leader of the firm’s Operations Practice, says that for many companies, China has risen to the top of the management agenda. “In many industries today, operating in China is no longer just an option to consider — it’s an imperative if they are to remain competitive,” Sirkin says. “Yet many questions and risks remain.”
The Chinese version of Knowledge@Wharton will be funded by a combination of corporate sponsorships and donations from alumni, parents of existing students and friends of the School. It comes on the heels of the fifth anniversary of Knowledge@Wharton, which now has more than 350,000 subscribers in 189 countries.
Tech Leaders Speak on VC at Inaugural Wharton West Conference
The state of venture capital was one of the many topics addressed at Wharton West’s first venture capital conference, held May 11 in San Francisco and organized by Professors Andrew Metrick and Chris Geczy. Called “Venture Capital: Theory Meets Practice,” the event drew alumni from both coasts to hear speakers such as John Dean, WG’74, former CEO of Silicon Valley Bancshares, Jim McElwee, WG’76, general partner of Weston Presidio, Michael Mortiz, WG’78, partner at Sequoia Capital, and Ted Schlein, C’86, general partner of Kleiner, Perkins, Caufield & Byers.
Most images of entrepreneurship tend to focus on the vision and guts involved in getting ventures off the ground. But at a recent panel discussion at the inaugural Lauder Institute Alumni Association Global Business Forum in New York, a group of entrepreneurs – some just a few years into their venture, and at least one with decades of experience – offered a portrait of the entrepreneur that seldom makes it onto the cover of Business Week: The entrepreneur as mensch.
Panelists emphasized less the solitary aspects of the entrepreneurial life than the social ones. Forget genius, they said; what really counts most is building a strong network to turn to for help and advice, treating people with dignity, and serving your customers well.
Chaired by Lauder Institute governor Edgar Bronfman Jr., the chairman and CEO of Warner Music Group, the panel featured Tom Bendheim, the CEO of Rheingold Brewing Co.; George Bennett, the chairman and CEO of Health Dialog; Luis Gonzales, COO and founder of Vidalink, a Brazilian pharmaceutical supply company; Charles Rashall, president and founder of brandadvisors; and Diane Ty, chairman and co-founder of YouthNOISE. The Global Business Forum was held in April at the Metropolitan Club in New York City and was attended by more than 300 Lauder/Wharton alumni. In addition to the participants noted above, over 30 industry leaders served as keynote speakers and panelists, including Leonard Lauder, W’54, CEO of Estee Lauder; Dick Parsons, CEO of Time Warner; A.G. Lafley, CEO of Procter & Gamble; Sir Martin Sorrell, CEO of WPP; Paul Fribourg, CEO of ContiGroup; Shiv Khemka, WG’90, G’90, CEO of Sun Group; and Richard Haass, president of the Council on Foreign Relations. To read more about the Business Forum (including coverage from Knowledge@Wharton), visit www.lauderalumni.com.
Robert E. Mittelstaedt: 13 Years as Vice Dean of Executive Education
Robert E. Mittelstaedt has resigned from his position as vice dean of the Wharton School’s executive education division, a role he has held for 13 years. Mittelstaedt left his post to become dean of the W.P. Carey School of Business at Arizona State University, effective July 1.
During his tenure at Wharton, Mittelstaedt was responsible for building the Aresty Institute of Executive Education into one of the largest organizations of its type in the world, with more than 220 programs for 8,000 to 10,000 executives annually. He was instrumental in founding the Directors’ Institute in 1993, the Wharton Electronic Commerce Forum in 1996, and Knowledge@Wharton in 1999. During 1996-99, he headed Wharton’s external affairs division, including fund raising, public relations, communications and alumni affairs functions. He also led the startup of Wharton West as the initiative’s interim vice dean during 2000-2001. While at Wharton, he also served as associate director or director of a number of programs including: the Leonard Davis Institute of Health Economics; the National Health Care Management Center; the Wharton Applied Research Center; and the Wharton Innovation Center.
Dean Patrick Harker said, “I am deeply grateful to Bob for his outstanding work at Wharton. His appointment to the W.P. Carey deanship is much deserved recognition of his abilities as a leader and his commitment to business education. We wish him the very best of success in his new position.”
Joseph E. Harari, PAR’90, member of the School’s Executive Board for Latin America, was awarded (along with his three brothers) Panama’s highest civilian honor, The Order of Vasco Nunez de Balboa, in April. The award is conferred to citizens of the Republic who have made outstanding contributions to the country over the years.
Peter Murphy, WG’88, was featured in an article about his career as senior executive vice president and chief strategic officer of the Walt Disney Company (Daily Variety, 4/2/04).
Ron Wilson, WG’95 and Brian LeGette, WG’95, were featured in an article about their company, EntreQuest, producers of performance wear merchandise (Baltimore Sun, 4/6/04).
Jay I. Kislak, W’43, was featured in an article about his gift of 4,000 artifacts of early America to the Library of Congress (Washington Post, 4/7/04).
William Lauder, W’83, has been named CEO of Estee Lauder Companies (Wall Street Journal, 4/23/04).
Angelo Koo, WG’93, member of the School’s Executive Board for Asia, was featured in an article about his career at China Trust Financial Holding Company, and his management and leadership skills (Tapei Times, 4/23/03).
Donna S. Morea, WG’80, was featured in an article about her career as executive vice president of the public sector group for American Management Systems (Washington Post, 4/26/04).
Charles Abdalian, WG’77, has been appointed to senior vice president of finance and CFO of Coley Pharmaceutical Group, Inc. (Health & Medicine Week, 4/26/04).
Steven Zwiener, WG’89, was featured in an article about Wolfgang’s, his family-owned Manhattan restaurant (New York Times, 4/28/04).
Kim Saunders, W’82, has been appointed president of Consolidated Bank & Trust (Black Enterprise, 3/1/04).
Zane Tankel, W’62, was featured in an article about his success in the ownership of 21 Applebee’s franchise restaurants in New York City (New York Times, 3/10/04).
Robert B. Goergen, WG’62, Wharton Overseer, authored an article in the Executive Life Column about his career and role as chairman and CEO of Blyth, Inc. (New York Times, 3/14/04)
Tarun Tahiliani, W’84, was featured in an article about his international reputation as a leading couture fashion designer in India (The Hindu, 3/18/04)
Peter M. Kendall, WG’70, was featured in an article about his success as CEO of Coors Brewers, Ltd. (The London Times, 3/18/04).
Masayuki Nagatake, WG’97, has been named managing director of Uniqlo UK, a Japanese clothing retailer (Retail Week, 3/19/04).
Michael Steinhardt, W’60, was featured in an article about his success as a hedge-fund manager (Investor’s Business Daily, 3/24/04).
Kelly Wallace, W’87, currently with CNN, served on a panel of national correspondents to lead discussions on the September 11th attacks(CNN: On the Story, 3/27/04).
Upcoming Patagonia Alumni Leadership Venture; January 7-16, 2005 (Includes flying time from the U.S.)
In January 2005, the Wharton Leadership Ventures will offer its first Venture to South America for alumni. This trip takes participants into the heart of Patagonia to the famous “Torres Del Paine.” Led by Professor Mike Useem, Director of the Center for Leadership and Change Management, and under the expert guidance of Vertical SA’s world-class mountaineering team, the Venture will provide a set of engaged, hands-on experiences for exploring and mastering the capabilities for effective individual and team leadership in business and beyond. Participants will have the opportunity to improve their capacities to think strategically, communicate effectively, and act decisively.
This week long program begins the afternoon of January 8, 2004 in Punta Arenas, Chile. Participants will spend the week trekking in the Torres Del Paine National Park alternating between lodges and camping. A key highlight of the trip will be an afternoon of walking and ice-climbing on Grey Glacier. It promises to be a challenging and invigorating program at once fostering an environment for further leadership development as well as providing the opportunity for alumni to reconnect.
Recent Alumni Books
Throw Me the Bottom Line . . . I’m Drowning in E-mail! Bob’s Rules for Managing the E-mail Crisis
By John S. Fieldon, W’45, PhD, Jean D. Gibbons, PhD and Ronald E. Dulek, PhD; Pioneer River Press (2003)
“I highly recommend this little book to anyone aspiring to advance their career. The authors offer many practical ideas for influencing others using certain simple communication principles.” – Arthur C. Neilson, Jr., Chairman Emeritus, A.C. Nielson Co.
A Soldier and IBM Machines in World War II
By John J. DiMino, WEV’53; The Historical Society of Montgomery County (2001)
“DiMino’s book . . .provides an excellent introduction to the specialized wartime mobile record units.” – Keith Phucas, The Times Herald
Marketing to the Campus Crowd
By David A. Morrison, WG’99; Dearborn Trade Publishing (2004)
“David Morrison has discovered the Fountain of Youth. Marketing to the Campus Crowd is an all-encompassing-brilliant review of what to do and, always more importantly, what never to do.” – Rich Appel, Director of Market Research, Sony Music Entertainment
Organizing for Profit in China: A Case Study Approach
By David S. Wu, WG’82; iUniverse (2003)
“David S. Wu has written a terrific book on doing business in China. Don’t miss this guide into the land of the world’s first capitalists.” – Dr. Bob Rosen, CEO of Healthy Companies International, author of Global Literacies