Spring, Summer 2017 Newsletter
Message from Dean Asghar Sabbaghi (continued)
Business Achievement Award and 2017 Award Banquet
We were thrilled to have the Honorable Terrence A. Duffy selected to receive the 2017 Beta Gamma Sigma Business Achievement Award. This highly selective honor is awarded annually to leaders who have made significant achievements in business, while also enhancing their community and humankind through their generosity. Furthermore, the leaders who were awarded this honor demonstrate ethical leadership and exemplify the integrity consistent with the ideals of Beta Gamma Sigma. This award was announced during the Beta Gamma Sigma Deans Luncheon at the AACSB International Conference and Annual Meeting in Houston, Texas. Duffy received the award during our 2017 Award Banquet on April 30 at the Hilton Chicago/Oak Lawn.
|(l to r) GSM Business Advisory Council member Alex Pollock, Dean Asghar Sabbaghi, Beta Gamma Sigma Business Achievement Award Honoree Terry Duffy, CEO of Beta Gamma Sigma Chris Carosella, GSM Alumni Advisory Board President Laura Shallow and SXU Board of Trustee member Roger Crockett.|
Duffy is chairman and chief executive officer of CME Group, the world's leading derivatives marketplace and the world's first exchange to demutualize and go public. In 2016, CME Group was named the world's fastest growing and most valuable exchange, with a brand value of $1.7 billion, beating out the New York Stock Exchange and the Hong Kong Exchange. Duffy was appointed by President Bush and confirmed by the U.S. Senate in 2003 to serve as a member of the Federal Retirement Thrift Investment Board (FRTIB), a position he held until 2013. Duffy was also the keynote speaker for our fall 2016 GSM Mentoring Program and nominated by the GSM for this most prestigious award.
Chris Carosella, the CEO of Beta Gamma Sigma, stated: "Out of all the many worthy nominations we received from around the world, Terrence Duffy was a clear choice for this year's award. His accomplishments, commitment to community and extraordinary generosity exemplify the very best of Beta Gamma Sigma's ideals. He is a role model for our members worldwide and for emerging business leaders everywhere."
Another highlight of the award banquet was the recognition of our alumnus Jose Garcia, president of Northwest Community Credit Union, for his service and contributions to GSM and our executive mentorship program. As the 2017 alumni honoree, Garcia was inducted into our chapter of Beta Gamma Sigma.
|(l to r) Dean Asghar Sabbaghi stands next to Beta Gamma Sigma Chapter Alumni Honoree Jose Garcia, along with President of the GSM Alumni Advisory Board Laura Shallow and SXU President Laurie M. Joyner.|
During the banquet, 34 undergraduate and 29 graduate students were inducted into the Beta Gamma Sigma International Honor Society, and 13 additional scholarships and discipline honors were awarded. Dr. Faisal Rahman, the founding dean of GSM, was recognized for his outstanding service contributions to the school and the University. Dr. Jose Daniel was awarded Outstanding Professor of the Year, and Nancy DuCharme received the Adjunct Faculty Award. These faculty members and Dr. Monzurul Hoque were inducted into Beta Gamma Sigma as well.
|Awardee Dr. Faisal Rahman||Awardee Dr. Jose Daniel||Awardee Nancy DuCharme|
Inaugural GSM Alumni Week
I thank our alumni and GSM Alumni Advisory Board who attended the inaugural GSM Alumni Week from March 20-24. Throughout this week, GSM alumni returned to campus to reconnect with faculty and staff, meet current GSM students, attend special events, serve as guest lecturers and share their professional experiences and achievements with our students. The week kicked off with a special keynote lecture titled "Boom and Bust of Financial Cycles and Human Prosperity: What Can We Expect from Future Financial Cycles," featuring R Street Institute senior fellow and GSM Business Advisory Board member, Alex J. Pollock. I am very grateful to all our alumni who made it a success!
Annual GSM Economic Summit
During GSM Alumni Week and in partnership with the Federal Reserve Bank of Chicago, we hosted the Third Annual Economic Summit on March 24 in the Metropolitan Club's East Room on the 67th floor of Willis Tower. This year's summit, "Seeing Tomorrow: Insights About the Global, National and Regional Economy for 2017," aimed to enable financial managers to take advantage of trends in a changing global society.
Panel members included William Strauss, senior economist and economic advisor for Federal Reserve Bank of Chicago; Dr. Faisal Rahman, professor of management and economics; and Dr. Indranil Ghosh, associate professor of economics. The moderator was Dr. Monzurul Hoque, professor and chair of the Economic and Finance Department at GSM. The panel provided their insights into the latest economic and financial events and policy changes in the U.S. markets and assessed how recent forecasts fit expectations. Snapshots of the latest data and upcoming market events were presented in three key areas: the U.S., Midwest and the Chicagoland area. The annual GSM Economic Summit was very well-attended and well-received by the Chicago business community and our alumni. I wish to express my gratitude to our alumni who sponsored this event.
Undergraduate and Graduate Business Program Enrollment
I am pleased to report another year of enrollment growth in both the undergraduate and graduate business programs at GSM. Our undergraduate business program enrollment increased to 510 students in spring 2017, which is a growth of 4.9% compared to spring 2016. This growth has increased the percentage of undergraduate business students among SXU's undergraduates to its highest level of 18.7%. Our graduate business program enrollment increased to 376 students in spring 2017, which is a growth of 2.2% compared to spring 2016. This growth has increased the percentage of graduate business students among SXU's graduate enrollment to 41.3% (the corresponding percentage in spring 2016 was 37.5%). The credit hours generated by the graduate business students increased from 2,358 in 2016 to 2,442 in 2017, a growth of approximately 4.6%. Furthermore, the contribution of GSM graduate programs to SXU's graduate credit hours increased from 40.87% in spring 2016 to 43.1% in spring 2017.
GSM Business Advisory Board Meeting Hosted by True Partners Consulting LLC
I wish to thank our Business Advisory Board members for their active participation in the spring 2017 GSM Business Advisory Board meeting. I am especially grateful to our alumnus James T. Hedderman, managing director of True Partners Consulting LLC, for his generous hospitality in hosting the meeting.
The board members are serving on several active committees: Experiential Education, Business Executive for Student Transformation (BEST) Mentoring Program, Program and Curriculum Development, Marketing/Promotion, Recognition, Distinguished Speakers Series, and Scholarship and Enhancing Financial Resources. I sincerely appreciate their hard work, detailed reports and extensive discussions on our experiential education approach and cultivation of internship opportunities, which have effectively enabled our undergraduates to secure employment offers after graduating.
Undergraduate Student Mentoring
Kenneth W. Lukhard, president of Advocate Christ Medical Center and business leader in the health care industry, kicked off the spring 2017 Freshman-Sophomore Mentoring Event as the keynote speaker on February 9. Lukhard's speech, titled "Intellect, Emotional Intelligence and Spirituality: The Three Pillars of Success," was extremely thoughtful, captivating and inspiring. After his speech, our students were divided into groups with full-time faculty to have lunch together and talk about their mentoring goals. I received positive feedback and reflections from our students and faculty, particularly in regards to sharing ideas, seeking advice and persisting toward success.
BEST Mentorship Program Appreciation
I am grateful to our many alumni and friends who made the second GSM Business Executive for Student Transformation (BEST) Mentorship Program a success this year. The program kicked off at the start of the fall 2016 semester, with a total of 37 business executive mentors and student mentees matched. Mentors and mentees were encouraged to meet frequently throughout the year and build a professional relationship. Several of our students organized an appreciation event on April 6 to express their gratitude to the mentors for their dedication and impact. A sample statement from one of our mentees, Mitchell Uratchko, on his experience with his mentor Abdullah Tadros (GSM alumnus and vice president of commercial underwriting, First Midwest Bank) follows:
"My mentor in conjunction with GSM, Abdullah Y. Tadros, has my highest recommendation as the best mentor possible. Several times, Abdullah has driven to SXU to meet me and fine-tune my attributes. Abdullah has also met me at several places of business -- including his own place of business -- to take actions so that I could improve my resume, my communication skills and my goals. He has also helped me etch the ongoing timeline that I refer to help me stay on task with achieving my goals quicker. Abdullah has encouraged me to become the best person I can be, and I don't want to let him down. He is an SXU alum that everyone should be proud of. He carries himself with the utmost amount of professionalism and treats others with the utmost respect. He is also an avid family man. I aspire to be like Abdullah Tadros."
|(l to r) Dean Asghar Sabbaghi stands next to mentor Abdullah Tadros, mentee and SXU student Mitchell Uratchko and President of the GSM Alumni Advisory Board Laura Shallow.|
I received positive feedback and reflections from both the mentors and the mentees, which serve as a testament to the success of this year's program. I sincerely appreciate all the wonderful mentoring provided by this year's participants.
GSM Dean Serves as Panel Member in the 2017 PRME Affinity Group Meeting
I was extremely delighted to serve on a panel for the Principles for Responsible Management Education (PRME) Affinity Group workshop, "Transforming Business Schools Toward Enabling Global Prosperity and Global Responsibility: Deans as Agents of Change." With GSM as one of its active signatories, PRME is a United Nations-sponsored initiative whose mission is to inspire and champion responsible management education, research and thought leadership globally. This workshop was held during the AACSB Annual Deans Conference, from February 5-7 in New Orleans, La., and aimed to identify barriers and to change and share strategies for transforming the vision/mission, programs, systems and culture of business schools to enable global prosperity and responsibility.
2017 GSM VITA Program
For the second consecutive year, GSM has partnered with Ladder Up, a nonprofit organization in Chicago that provides hardworking people with free financial programs they need to move up the economic ladder, to offer the Volunteer Income Tax Assistance (VITA) program to community members. In this program, free assistance is provided to low- and moderate-income taxpayers to file their annual tax returns. This was a valuable experiential learning opportunity for our Accounting students in Professor Don Cyze's Individual Income Tax course. Students enrolled in the course became IRS certified and were required to participate in a community-service tax program. Engaging in the VITA program not only reinforced the course material for our students, but more importantly enabled them to learn from others' experiences.
Center for Experiential Education
Our Center for Experiential Education has continued to effectively serve our undergraduate and graduate students by preparing and placing them in very valuable internship and field project opportunities. I am grateful to Paul Belsky for his tremendous leadership as director. I am pleased to report that many of our students were offered full-time professional positions by the organizations who supported and sponsored their internship. A sample of the organizations in which our students have successfully secured internships are: Federal Reserve Bank of Chicago, Walt Disney World, The Chicago Festival Association, Chicago Mercantile Exchange, Northern Trust Bank, CNA Insurance, True Partners Tax Consulting, Executive Club of Chicago, NBC Universal, Oak Lawn Chamber of Commerce, Deloitte & Touche, Panduit Corporation, and The Washington Internship Institute/Washington, D.C. I encourage our alumni and friends to review the detailed progress report on the Center for Experiential Education and to contact Paul Belsky, email@example.com, if you have an internship opportunity for our students.
Dr. Faisal Rahman has Been Appointed as the Acting Dean
Finally, I am delighted to announce that Dr. Faisal Rahman, founding dean and professor of management, has been appointed as the acting dean of GSM. As many of our alumni may recall, Dr. Rahman joined SXU in 1981 and served as a tenured professor, department chair and dean for many years. In 1983, Saint Xavier College acquired the former Duffy Elementary School. In recognition of continuous generous benefaction of William B. Graham's family, the Graham School of Management was established, and Dr. Rahman was appointed as the first dean of the new school. He has received both the GSM Excellence in Service Award and the Saint Xavier Award. He has also established himself as a successful entrepreneur in health care and an active member of the community.
Once again, I sincerely thank everyone who has contributed to advancing GSM. I wish you all the very best for continued success and growth at GSM and SXU!
Dean and Professor