The Richard T. Doermer School of Business and Management Sciences celebrated its fourth annual Founder’s Day on Tuesday, October 27, 2009. The dinner event was held to honor Richard T. Doermer, an exceptionally successful business executive, community leader, philanthropist, and a great friend of IPFW. It is, indeed, an honor for the faculty and students to have the business school, the first named school at IPFW, named after a pragmatic visionary like Dick Doermer.
Dick Doermer’s generous gift to the business school will support much needed student scholarships, faculty activities pertaining to teaching and research, and international study programs.
The event was attended by several prominent community leaders, and business school faculty, students, alumni, and staff. The program included several presentations on the mission, goals, accomplishments and future plans of the Doermer School, undergraduate student accomplishments and MBA student accomplishments.
The agenda of the evening included the following:
Dean Chang presented an alumni with the Distinguished Alumni Award. The Distinguished Alumni Award is given to an individual who has one or more degrees from within Richard T. Doermer School of Business and Management Sciences (undergraduate), a individual who has assumed positions of increasing responsibility in his or her field of endeavor and the position which he or she is serving appears to have a great deal of significance, and an individual who has contributed time and/or talent to IPFW and/or the community. Jeff A. Taner, DWD, Inc. was the 2009 distinguished alumni.
Alix Hughes, student, shared about the 2009 Business Simulation Game (BSG), which is played through the class J401, Policy and Strategy, taught by William Todorovic. BSG is a completely online exercise where teams of students run an athletic footwear company in head-to-head competition against companies run by other class members. Company operations parallel those of actual athletic footwear companies. Just as in the real-world, companies compete in a global market arena, selling branded and private-label athletic footwear in four geographic regions – Europe-Africa, North America, Asia-Pacific, and Latin America.
Company co-managers must make decisions relating to plant operations, distribution and warehouse operations, work force compensation, online sales at the company’s website, sales and marketing, and finance. The challenge is to craft and execute a competitive strategy that results in a respected brand image, keeps your company in contention for global market leadership, and produces good financial performances as measured by earnings per share, return on investment, stock price appreciation, and credit rating.
The IPFW team has been placing in the top 100 the last few weeks and just this week, they placed in the top 18! Congratulations!
Elizabeth Kruckeberg and Brian Stalter, two students out of the ten that went, shared about the D490 China Study program that they participated in, in the Spring 2009. The students studied and stayed in Shanghai and Beijing where they learned about the Chinese economy, business culture, and cultural differences between China and the United States. The students also visitited five companies covering different industries and different types of organizations.
The team did market research for two Fort Wayne businesses, Do it Best, Corp. and Vera Bradley, considered how their clients’ products and services may be marketed, sold, and used in that part of the world. Once back in class at IPFW, they put together international business plans for each firm pointing out how they can improve their strategic positions on the global market. These students did not just decide to take this course and go on this trip; they were among a field of 40 top-level students who were invited to apply for admission to the class.
Four students, Elizabeth Kruckeberg, Oxana Mullins, Sandra Overman, Nick Rolf, along with Prof. Lyman Lewis and Dr. John Niser, Chair of Consumer and Family Sciences went to Palm Island Florida to be a consultant with a client. The team took an exploratory trip to the company to conduct a unit inventory, they will continue to build analysis by researching property management systems, and finally in April, there will be final presentation to the owner in Palm Island. This project allows the students many real world experiences including meeting with a client in a different state and the challengesof being in a different state; cross function team with the benefit of new ideas; and the opportunity to learn in a different atmosphere rather than in a classroom.
Elizabeth Kruckeberg, student, shared about the 2009 Fed Challenge which is an undergraduate student competition. The Fed Challenge will be on Monday, November 9 in Chicago, IL. In this competition, teams of three to five students assume the role of advisors to the Federal Open Market Committee in the conduct of monetary policy. Teams make a twenty-minute presentation and are then questioned by a panel of Federal Reserve in Washington for the final competition. IPFW competes in the regional competition held by the Federal Reserve Bank of Chicago.
The competition encourages students to apply theoretical topics in macroeconomics and monetary policy to the actual, current economic situation. The competition requires students to assemble and process current macroeconomic information and data. It also requires students to move beyond a theoretical understanding of monetary policy into a detailed understanding of the implementation of monetary policy. Participants are expected to develop a very professional presentation style. Those participating on the IPFW team is Staci Bougher, Eldin Hasic, Jason Kochenderfer, and Elizabeth Kruckeberg. The team is lead by economic professors Nodir Adilov, John Kessler, and Myeong Hwan Kim.