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University of Chicago Booth School of Business

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The University of Chicago Graduate School of Business
File:GSB Logo.gif.gif
TypePrivate
Established1898
DeanEdward A. Snyder
Academic staff
175
UndergraduatesNo
Postgraduates1088
Location
Chicago
,
Illinois
,
USA
File:Chicagoemblem2.png

The University of Chicago Graduate School of Business, also known as Chicago GSB, is one of the leading business schools in the world, the second oldest in the United States, and the first to offer the Executive MBA program.

University of Chicago GSB

Its flagship campus is located in the Hyde Park neighborhood of Chicago, Illinois on the grounds of the university at large. The school also maintains additional campuses in London and Singapore, and downtown on the Magnificent Mile. While recognized for the excellence of its graduate business programs in general, the school's research reputation is particularly notable in the fields of finance, economics, quantitative marketing and accounting. The school's global alumni network consists of leaders in for-profit, non-profit, governmental, public policy and academic enterprises.

Programs

Chicago GSB offers Full-time, Part-time (Evening and Weekend) and Executive MBA programs. The University is also a major center for educating future academics, with graduate programs offering the A.M. and Ph.D. degrees in several fields.

File:Chicago-gsb-photo-merge.jpg
The Charles M. Harper Center (formerly the Hyde Park Center) (Rafael Viñoly, architect).

The program allows students to largely structure their own course of study subject to the constraint of a broad set of requirements. This is in contrast to other top-tier business schools, which impose a cohort or learning team system that includes coursework to be completed in a pre-determined order. The program differentiates itself by allowing students the flexibility to construct a program of study that is tailored to their needs, and can be as broad or deep as they choose. There is only one required course for full-time program students: LEAD (Leadership Effectiveness and Development)[1], which students take in their first quarter. LEAD focuses on the fundamental skills of leadership: motivating people, building relationships, and influencing outcomes. Students in the full time program may earn an International MBA, or IMBA, by studying abroad on exchange with another business school, taking certain electives, and by demonstrating oral proficiency in a second, non-native language.

Students in these programs can elect to concentrate in one or more areas of study, although some concentrations' required coursework requires schedule modifications by students enrolled in the part-time programs:

Students actively engage in group projects and outside class discussion.

The school's Executive MBA program is unique in that students may elect to spend the required residential periods on all three of the school's campuses world-wide (London, Chicago, Singapore), while also employing the cohort system.

History

The University of Chicago Graduate School of Business was launched by faculty member James Laurence Laughlin in 1898. It is the second-oldest business school in the United States. The school was chartered officially as the College of Commerce and Administration and was intended to be an extension of the school's founding principles of “scientific guidance and investigation of great economic and social matters of everyday importance,” as echoed by founding president William Rainey Harper. The bold program originally served as a solely undergraduate institution until 1916, when academically oriented, research masters and later doctoral level degrees were introduced. The MBA was first offered in 1936, resulting in an eight year transition to the institution’s graduate-only status completed in 1950. In 1943, the school presaged the success of executive education programs in management education, launching the first ever Executive MBA program. The school is also notable in that, during the later half of the twentieth century, it was known for its role in the development of the "Chicago School", an economic philosophy focused on free-market, minimal government involvement, due to faculty and student interaction with members of the university's influential Department of Economics. In general, the GSB has been a first mover in many areas of business school education [2]:

  • First business school to initiate a PhD program in business, 1920
  • First academic business journal is founded, 1928
  • First university to grant a PhD in business to a woman, Ursula Batchelder Stone, 1929
  • First program to educate hospital administrators, 1933
  • First Executive MBA (EMBA) program for experienced managers, 1943
  • Dean George P. Shultz develops first minority scholarship program at a business school, 1964
  • Students found the National Black MBA Association, 1972
  • First business school to have a Nobel laureate on its faculty (George Stigler, 1982)
  • First business school to have had six Nobel Prize winners: George Stigler, 1982; Merton Miller, 1990; Ronald Coase, 1991; Gary Becker, 1992; Robert Fogel, 1993; and Myron Scholes, 1997
  • First to offer EMBA program in Europe and Asia, and the only business school to have campuses on three continents.

The school has moved several times across the campus. The school currently occupies a recently completed, modern center for teaching and research, having spent its prior history in historic buildings located on the university's Main Quadrangle.

Ranking and reputation

Chicago GSB has consistently ranked among the top business schools in the world. Recent historical rankings of the full-time MBA program, as well as the most recent rankings of the Executive and Part-Time MBA programs, in BusinessWeek, The Economist, Financial Times, Forbes, USA Today, US News & World Report, and the Wall Street Journal include:

2008 2007 2006 2005 2004 2003 2002 Exec. MBA Part-Time MBA
BusinessWeek 1 1 2 2 2 2 3
The Economist 1 4 6 6 5 4
Princeton Review 2
US News 4 5 8 6 2 2
Financial Times 9 6 6 6 4 6 (*1 in Asia)
Forbes 7 3 3 3 3 4 4
USA Today 3
WSJ 9 11 13 5 5 6

Recruiters also voice a strongly positive opinion of students. According to BusinessWeek's biannual MBA rankings: "Chicago's grads were hands-down favorites in our survey of companies that hire MBAs. More than just a factory for churning out economic whiz kids, the school's capacity for shaping students' thinking was at the top of recruiters' minds.[3]"

Notable faculty members

Distinguished faculty, including Nobel Prize winners, teach MBA students not only established best practices, but also the findings of their latest research. [4] Some of university's most prominent scholars and professors, past and present, include:

Economics and Finance

Strategic Management

  • James O. McKinsey, founder of McKinsey & Company in 1926, pioneered budgeting as a management tool
  • Ronald S. Burt, professor of sociology and strategy, known for his study of brokerage in social networks and the social structure of competitive advantage; author of Brokerage and Closure: An Introduction to Social Capital
  • James E. Schrager, Clinical Professor of Entrepreneurship and Strategic Management, teaches New Venture Strategy. Expert on the Porsche 356 - Author of Buying, Driving, and Enjoying the Porsche 356.

Decision Models

  • John Birge, professor of operations management, former dean (1999-2004) of the McCormick School of Engineering and Applied Sciences at Northwestern University

Marketing

  • Pradeep Chintagunta, professor of marketing, known for quantitative research on purchasing patterns
  • Sanjay Dhar, professor of marketing, known for work in brand management, advertising and promotion, was named by Economic Times as one of dozen "big guns" in marketing from India
  • Jean-Pierre Dube, professor of marketing, known for his work in competitive advertising, retail competition, pricing strategy and Internet marketing
  • Christopher K. Hsee, professor of marketing and behavioral science, conducts research in hedonomics, the study of happiness.
  • Peter Rossi, professor of marketing, founding editor of "Journal of Quantitative Marketing and Economics" in 2003 along with the annual Quantitative Marketing and Economics (QME) Conference
  • Puneet Manchanda, associate professor of marketing, researches quantitative metrics of marketing communication effects
  • Stephen J. Hoch, professor of marketing and behavioral science, researched retail merchandising and pricing and co-authored the influential article "EDLP, Hi-Lo and Margin Arithmetic". He is now at the Wharton School.
  • Ann McGill, professor of marketing and behavioral science, her research focuses on consumer and manager decision making with special emphasis on causal explanations, comparative processes, and the use of imagery in product choice.

Private Equity

  • Steven N. Kaplan, professor of entrepreneurial finance and private equity, known primarily for empirical research of buyouts and venture capital
  • Scott F. Meadow, clinical professor of entrepreneurial finance and private equity, known primarily for 40% career IRR and "Meadow Ratio"
  • Luigi Zingales, professor of entrepreneurial finance and private equity, and co-author (with Raghuram Rajan) of "Saving Capitalism From The Capitalists"

Accounting

  • Raymond Ball, professor of accounting, inaugural winner of the American Accounting Association's Seminal Contribution Award (widely considered the highest honor for academic research in accounting)
  • Douglas Skinner, professor of accounting, winner of 2004 Jensen Prize from The Journal of Financial Economics, former faculty chair at University of Michigan (2001-2003)
  • Roman Weil, professor and co-author of popular textbooks "Handbook of Cost Management," 2nd ed. (2006); "Financial Accounting," 12th ed. (2007); "Managerial Accounting," 8th ed. (2006); "Litigation Services Handbook," 4th ed. (2007)
  • Haresh Sapra, professor of accounting, known for his research on disclosure regulation and accounting measurement rules; winner of the Emory Williams Teaching Award, awarded annually by student nomination to a Graduate School of Business faculty member for excellence in teaching, from 2002-2005; winner of the Ernest Wish Accounting Research award for best paper written by an untenured accounting faculty.

Leadership

Research and learning centers

The school promotes and disseminates research through numerous centers and institutes:

Notable alumni

Prominent among the 37,000 living alumni include:

Banking and financial services

Private equity

Investment management

Marketing

  • James M. Kilts, Vice Chairman of Procter & Gamble and former Chairman, CEO, and President, The Gillette Company[13]
  • Derek D. Podobas, CEO of ChicagoAnalytics
  • Julie Roehm (MBA 1995), former Senior Vice President of Marketing Communications at Wal-Mart, formerly at DaimlerChrysler
  • David Slump, Chief Marketing Officer at General Electric Energy Division
  • Ann Mukherjee, Vice President of Marketing at Pepsico
  • Mason Reay, Director of Marketing (Europe, Middle East, Africa) at Dell Computer Corporation
  • Philip Kotler, author of textbook "Marketing Management: Analysis, Planning, Implementation and Control," the most widely used marketing book in business schools worldwide, received his Master's Degree in economics and did post-doctoral work in behavioral science at the University of Chicago
  • Rishad Tobaccowala, CEO of Denuo, a new media company from Publicis Groupe; formerly Chief Innovation Officer at media arm of Leo Burnett; called "one of new oracles of Madison Avenue" by BusinessWeek (Oct. 17, 2005)
  • Todd Tillemans, General Manager of US Skin Business at Unilever
  • Kenneth Feldman, Vice President for loyalty and e-commerce at United Airlines
  • Javier Benito, Executive Vice President and Chief Marketing Officer at Starwood Hotels & Resorts Worldwide
  • David Dalka, noted for emerging customer listening and retention strategies in high growth start up companies, frequent speaker and as a notable blogger.

General management

Government/public service/non-profit

Technology

Venture capital

  • John Hershey, Managing Director of Hercules Technology Growth Capital; formerly Managing Director of Infinity Capital and of the technology group at Banc of America Securities
  • Kathryn Gould, Co-Founder and General Partner, Foundation Capital
  • John Gardner, Partner, Blue Run Ventures
  • Guy Nohra, Co-Founder and Manging Director, Alta Partners
  • John Banta, CEO and Managing Director, IllinoisVENTURES
  • Eric Becker, Co-Founder and Managing Partners, Sterling Capital Partners
  • Clinton Bybee, Co-Founder and Managing Director, ARCH Venture Partners
  • Keith Crandell, Co-Founder and Managing Director, ARCH Venture Partners
  • Rick Kimball, Founding General Partner, Technology Crossover Ventures
  • Robert McCormack, Co-Founder and Advisory Director, Trident Capital
  • Robert Nelsen, Co-Founder and Managing Director, ARCH Venture Partners
  • Babu Ranganathan, Partner, Apex Venture Partners
  • Kartheepan Madasamy, Head of India Investments at Qualcomm Ventures

Healthcare/pharmaceuticals/biotechnology

Consulting

  • Fred G. Steingraber, retired CEO of A.T. Kearney
  • Thomas Phelps, head of European consulting, Cutter Associates
  • Tim Jenkins, Co-Founder of Point B. Solutions Group

Strategic management

  • Debbie Ferruzzi, Executive Vice President of Corporate Strategy for Equity Office Properties Trust, the largest publicly held office building owner and manager in the U.S.

Journalism/publishing/media

Entertainment

See also

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