Michigan Tech College of Business Newsblog

Klippel Named Dean of School of Business and Economics

Published May 14, 2012

The School of Business and Economics welcomes back Dr. Gene Klippel as the new Dean.

Gene Klippel has been named dean of Michigan Tech’s School of Business and Economics. He will take over the position on July 1. Klippel replaces Darrell Radson, who left the University in May.

Klippel knows the campus and community, having served as dean of the School from 1994 to 2003. While at Michigan Tech, he led the School to accreditation by AACSB (Association to Advance Collegiate Schools of Business-International).

“He was consistently the top-ranked candidate in the pool, given his extensive experience at the dean level at a number of universities, his familiarity with AACSB accreditation, and his professionalism,” said Sonia Goltz, professor and chair of the search committee. “We look forward to Dr. Klippel leading the School of Business and Economics as we further advance our programs and scholarship.”

“Dr. Klippel’s strong leadership and communication skills will be vital in achieving the School’s mission,” said Dean Johnson, James and Delores Trethewey Professor in the School. “We look forward to him building relationships with the Michigan Tech community and alumni.”

Previously, Klippel was the founding dean of the College of Management at the University of Wisconsin, Stout and dean of the College of Business at the University of Southern Indiana.

Before joining Michigan Tech in 1994, he was a member of the faculty in the College of Business Administration at West Virginia University, where he was designated a distinguished professor and holder of the Kmart Chair in Marketing.

He also has held faculty appointments at the University of Florida, the University of South Florida and the Harvard Graduate School of Business.

Klippel has conducted extensive research and scholarship in the field of marketing. Further, he has served as a member of the editorial review board of the Journal of Marketing and the Journal of Marketing Management.

In addition to his academic background, Klippel’s experience includes corporate marketing staff assignments with Ford Motor Company and Cummins Engine Company, as well as president of Market Research of Florida and vice president, consumer research, Management Horizons Inc., formerly a division of Pricewaterhouse/Coopers.

Klippel has also served as an independent consultant to numerous Fortune 500 companies, including Drexel Heritage Furniture, Westinghouse and Caterpillar and Caterpillar-Australia.

He received his PhD in Business Administration from Pennsylvania State University and bachelor’s and master’s degrees in marketing from the University of Cincinnati.

A Michigan Tech Education Pays Off

Published May 8, 2012

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Michigan Tech graduates know the value of their education.

Is a college education a good investment?

No question about it, according to a report just issued by the website PayScale.com. In its 2012 Return on Investment (ROI) rankings, PayScale reports that a bachelor’s degree from Michigan Tech can be expected to yield more than $450,000 over a high school diploma in 30 years.

Michigan Tech placed 102nd among 850 US colleges and universities ranked in PayScale’s latest ROI report. According to the report, a Michigan Tech bachelor’s degree provides a return on investment of 9.6 to 11.1 percent.

“You would have a difficult time getting 11 percent every year going forward in the stock market without taking on a lot of risk,” said President Glenn Mroz. “And this is an investment people make in themselves that pays dividends beyond a simple ROI, since it affects a person’s quality of life and that of their family, often for generations.”

The ROI report also compared the cost of a degree at each of the colleges and universities ranked. It reports that a degree from Michigan Tech costs an average of $103,200, including tuition, fees, room and board, and books and supplies, with 91 percent of students receiving financial aid. At the top 10 schools on PayScale’s ROI list–all private–a degree costs between $203,500 and $212,900.

“The top of the list is dominated by expensive private schools and public universities with a strong STEM focus, demonstrating the value of STEM degrees,” Mroz pointed out.

Graduate School Dean Jackie Huntoon agreed. “I think this is a more rational ranking than the US News report, since it is based less on other academics’ perceptions and more on student outcomes,” she said.

(This article was written by Jennifer Donovan, Director of Public Relations, and was orignially posted in Tech Tody).

iOme Money Smart Week Video Contest ’12

Published April 24, 2012

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Last semester, some of Dr. Emanuel Oliveira’s students of EC3003 Macroeconomic Theory and EC4400 Banking & Financial Institutions courses participated in the 2011 iOme national competition (previous story), which tasked students with an essay and video about ways to foster personal savings in the US.

One team won Honorable Mention (and $2500) last February for the essay+video challenge—congrats again to Katie O’Connell, (economics), Adam Stigers (economics), Tianlu Shen (environmental engineering), Teddy Broe (economics), and Walker Derby (finance)—and now it is time for the video competition which is a spillover of the main competition.

All four Michigan Tech teams that participated in the 2011 iOme Challenge were selected to be in the top 10 iOme Money Smart Week Video Contest ’12, but only one can win. Please check them out and cast your vote!

Vote now for the iOme Money Smart Week Video Contest

Voting ends on Monday, April 30th!

Farewell to Dean Radson

Published April 24, 2012

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Announcements

A big thank you to Dean Darrell Radson for his last four years at Michigan Tech.

The School of Business and Economics bids farewell to Dean Darrell Radson following his resignation to accept the position of dean of the Foster College of Business Administration at Bradley University, effective May 1.

Dr. Darrell Radson has been the dean in the School of Business and Economics since 2008.

“I would like to express my sincere appreciation for Darrell’s service to the School of Business and Economics and the University,” said Provost Max Seel. “Under his leadership,we have changed curricula, developed new programs including an online MBA program, hired very talented faculty and staff, renewed the School’s accreditation and established new endowed professorships. The School is on the path to increased recognition and greatness.”

At a School reception, Radson thanked the high-caliber students he worked with and acknowledged the great administration, faculty, and staff who he will miss.

“My family and I are grateful for the opportunity to work with you in these last four years,” said Dr. Darrell Radson. “The School of Business and Economics is well on the road to future successes, and I’m proud to have taken part in its growth. A goal of our life’s journey is to always have a positive impact.”

Tech students report on ‘market leakage’

Published April 23, 2012

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Student Spotlight

Market leakage is a growing issue for Copper Country retailers, particularly online.

That was one of the takeaways at a presentation by Michigan Technological University students at the Keweenaw Economic Development Alliance meeting Wednesday. This is the second year School of Business and Economics Assistant Professor of Marketing Jun Min’s students have done the study, for which they received 71 responses.

In 13 product categories, this year’s study showed increasing market leakage in nine of them, including a 33 percent jump in electronics and office materials and 14 percent in cars. The four areas with stable and decreasing trends were household essentials, personal care products, groceries and medicine and drug.

Different areas benefitted the most from various areas of leakage. Online led for areas such as toys, clothing and telecommunications devices, while Marquette led in areas such as home improvement and outdoor living. The only area in which Green Bay absorbed the greatest market share was in automobiles, with 18.2 percent of respondents saying they had purchased a car in Green Bay.

It was a different story in services, where only four categories went up – rentals, real estate, household improvement and health/medical/dental. The largest decrease in leakage was 12 percent in airline and vacation services.

The bulk of the leakage was online, particularly in airline and vacation services, rental cars and education. Marquette’s strongest categories were restaurants and health/medical/dental. Green Bay again led in only one category: entertainment, museum and shows.

The local market trended downward in the Business Market Wellness index, which measures market attractiveness, satisfaction and recommendation.

The local market scored 3.35 out of 5, where 3 is neutral – behind online, as was the case last year, and also now behind Marquette and Green Bay. The weakest score was in market satisfaction, where the local market scored 3.06.

“That means people are attracted to our market, they like it, but they’re not satisfied,” said Tech student Cory Rokes. “This is something we want to rectify.”

Projections of future spending shows most to stay about the same, but with an edge toward online; 24 percent said they planned to spend more online in the next six months, more than twice the next highest total.

The group also conducted a separate leakage study for the Houghton County Memorial Airport. Of those surveyed, only four in 10 had used in the airport in the past year.

“The problem isn’t the market leakage, it’s promoting the airport,” said Tech student Sarah Ochs.

By GARRETT NEESE – DMG writer (gneese@mininggazette.com) , The Daily Mining Gazette