fall2023 Archives - EmoryBusiness.com https://www.emorybusiness.com/tag/fall2023/ Insights from Goizueta Business School Mon, 01 Jul 2024 15:32:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://www.emorybusiness.com/wp-content/uploads/2017/03/eb-logo-150x150.jpeg fall2023 Archives - EmoryBusiness.com https://www.emorybusiness.com/tag/fall2023/ 32 32 Meet Santiago Suarez: Unleashing the Power of Data https://www.emorybusiness.com/2023/12/18/meet-santiago-suarez-unleashing-the-power-of-data/ Mon, 18 Dec 2023 15:00:00 +0000 https://www.emorybusiness.com/?p=30534 Santiago Suarez 22MSBA, a data scientist at Truist, says the answers to company problems might be in its data. “Everything we have has massive amounts of data,” he says. “No matter what company you’re with, no matter which industry you’re in. We have a lot of information that can really help us understand our clients […]

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Santiago Suarez 22MSBA, a data scientist at Truist, says the answers to company problems might be in its data.

“Everything we have has massive amounts of data,” he says. “No matter what company you’re with, no matter which industry you’re in. We have a lot of information that can really help us understand our clients and improve our customer service. It’s all about how you can use that data, extract value from it, and use it to your advantage.”

Santiago Suarez outside the Truist building.

Born and raised in Mexico, Suarez started playing competitive tennis at the age of three. He originally aspired to be a professional tennis player. However, at 18 years old, he chose to attend Georgia Southern for his college education. There, he majored in supply chain management while playing NCAA Division I tennis for the Eagles.

After graduating, Suarez worked in the supply chain industry as a global logistics specialist for Interra International.

“I realized there was so much data that wasn’t being looked at by the company,” he says. “Just by looking at data we could have solved so many issues. That led me to pursue my Master’s in Business Analytics at Emory.”

Suarez came into Goizueta with no coding experience. He says he was excited to pick up technical skills through the 10-month MS in Business Analytics (MSBA) program. As he progressed through his master’s program, he increasingly saw merit in using data to make predictions and add value to business.

The MSBA program was great because it gave me an opportunity to learn more about myself. Data science is pretty broad, and there’s so many different branches of it, and I was able to learn which ones I liked.

Santiago Suarez 22MSBA

While at Emory, Suarez used his fifth year of athletic eligibility due to COVID-19 to play for the tennis team. He says the sport gave him a nice mental break during his intensive studies. Suarez also served as an MSBA admissions ambassador. This gave him the opportunity to speak to prospective students about his experience in the program and at Emory.

Following graduation, Suarez joined Truist, first in a retail analytics internship and later in an 18-month rotational program, where he currently works.

“Every day is a new adventure with new problems to solve.”

Interested in pursuing a business degree? Learn more about the unique programs Goizueta has to offer.

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Talking About the Business of Healthcare https://www.emorybusiness.com/2023/12/12/talking-about-the-business-of-healthcare/ Tue, 12 Dec 2023 14:57:49 +0000 https://www.emorybusiness.com/?p=30490 It wasn’t so very long ago that a physician’s job was clear cut—practice medicine as they were taught in medical school and heal the patient. However, as healthcare systems expand, the medical profession itself has become more complicated. Healthcare is a business like many other industries, but instead of just making money, healthcare workers must […]

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It wasn’t so very long ago that a physician’s job was clear cut—practice medicine as they were taught in medical school and heal the patient. However, as healthcare systems expand, the medical profession itself has become more complicated.

Healthcare is a business like many other industries, but instead of just making money, healthcare workers must also save lives. Navigating patient care and profitability is a unique challenge that neither business professionals nor doctors are able to address alone. Goizueta helps bridge that gap, teaching clinicians the fundamentals of business and teaching business professionals how to apply their knowledge specifically within the healthcare field.

First and foremost, the chief medical officer must be a good physician, according to Gregory Esper MD 09EMBA, associate chief medical officer of Emory University Healthcare System.

There are no successful CMOs that are not first thought of as excellent clinicians. No physician body is going to follow a chief medical officer who they do not first trust clinically.

Gregory Esper MD 09EMBA, associate chief medical officer of Emory University Healthcare System

“You also have to have transparency and integrity―your ‘yes’ is yes and your ‘no’ is no―and that you are not rash in the decisions that you’re making. It’s important to weigh the gravity of situations and decisions that you need to make with great care,” Esper says.

Preparing Healthcare Leaders to Succeed in Business

Sarah Kier 20EMBA and Gregory Esper MD 09EMBA

It’s not often that medical schools teach budgeting, leadership, operations, and human resources. That’s why Emory University’s Goizueta Business School offers healthcare concentrations in its Full-time MBA, Evening MBA, and Executive MBA programs. Goizueta also offers its Chief Medical Officer Program within its Emory Executive Education department.

Nicola Barrett is Goizueta’s chief corporate learning officer and oversees Emory Executive Education. She says, “Healthcare leaders are facing so many new challenges. There’s the introduction of new technologies, changes in societal expectations, research that’s uncovering patient and population equity disparities, and burnout of clinical staff. And that’s just a few. Understanding these dynamics and leading others in a way that helps them feel valued and willing to embrace change is important.”

We’re helping to equip senior medical officers and healthcare leaders with the skills and knowledge to make good decisions for their patients, their people, and their organizations. We’re teaching them to be aware of the implications and opportunities afforded by the changing healthcare landscape, and to effectively contribute to the strategic direction and success of their enterprise.

Nicola Barrett, Goizueta’s chief corporate learning officer

Healthcare executives and doctors have been through many years of education as well as many years of experience in their field. They might wonder how an MBA or CMO certificate can help further an already established career.

Sarah Kier 20EMBA is vice president of enterprise access at Emory Healthcare. She says that learning with her cohort gave her a broader perspective on concepts that she already understood, but only from the perspective of her niche.

“When you’ve been in your industry for that long, you have a deep but fairly narrow understanding of the business world,” she says. “Gaining that kind of expansion, learning from people across industries, you start seeing things from a different chair or a perspective.”

Adapting to and Adopting New Technology

Goizueta alumni are leading the way in adopting developing technology, like artificial intelligence (AI), to create the healthcare systems of the future. They’re learning those skills at Goizueta.

There are many ways to integrate AI into the medical field. Some are already in use on a regular basis, including patient data analysis, maintaining records, and insurance and billing management. But the prospect of using AI as a diagnostic tool, and not just as an administrator, is expanding. The ability of AI to provide accurate diagnoses and assist in personalizing treatment means it is a viable tool to add to a patient’s treatment team. However, experts say it will never replace trained physicians.

“I like the approach of saying that today’s trainee is going to operate in 2050. What is their world going to be like then?” says Benn Konsynski, George S. Craft Professor of Information Systems & Operations Management.

The world they are entering now is going to be transformed radically, and they can be a part of that. They’re coming in with values that are different than their counterpart 20 years ago, and I think they will have more opportunities to shape that future than their predecessors.

Benn Konsynski, George S. Craft Professor of Information Systems & Operations Management

Embracing AI in Healthcare

Esper has already worked with AI tools like ChatGPT to make his job more efficient, using it recently with a colleague to help write a new policy. This task would have taken his team days, but with ChatGPT’s assistance it took mere minutes.

“AI will create efficiencies in the analysis of data, the ability to have predictive analytics, that are going to be considerable. Even pathologists and radiologists are now using AI to identify areas of abnormality on scans and pathology. At this point, it doesn’t substitute for human interpretation, but at some point, it may,” Esper says. AI is helpful but not quite perfect and may never be, which is where the element of human interaction is crucial.

“You have to be careful. You have to say, is this right? What could be wrong? How can I use this more effectively? What’s the appropriate use of this? If I use this in this circumstance, can someone get hurt? I think those are considerations for the use of AI in medicine,” says Kier.

We have to embrace it. Because if we don’t, we won’t be leveraging technology that can help our patients and our families―and frankly, our people—from an efficiency perspective.

Sarah Kier 20EMBA, vice president, enterprise access at Emory Healthcare

Kier knows the future of healthcare lies in technology. But she approaches it from a more patient-focused view than just data entry and predictive modeling. Most patient portal systems, including the recently launched EPIC system used by Emory Healthcare, can track data like patient no-show rates. But Kier wants to ask even more of AI than just data tracking and analysis.

“The important part for me is what else and where else? So many people suffer from loneliness. And so many people go undiagnosed with mental illness because they’re not speaking to anyone else. How can AI help with that? Could your toothbrush notice that you haven’t brushed your teeth in three days. That probably means you’re not in an OK headspace? How can we plug those things in and get a real 360-degree picture of the person?”

Building Financial Prowess

There’s another formidable challenge for physicians and healthcare executives moving into leadership position. They need a wide range of skills in addition to the ones honed in medical school, residency, and practice as a physician.

Left to right: Nicola Barrett, Jaclyn Conner, and Michael Sacks

Healthcare executives, including CMOs, must be able to work with hospital boards of directors. They handle budgets upwards of hundreds of millions of dollars. These budgets cover not only actual medical care but also staffing, purchasing, general operations costs, and capital improvements. They must also make decisions about “non-funded” projects like free health screenings for the community.

Michael Sacks, is professor in the practice of organization and management at Goizueta. He teaches courses on leadership and organizational behavior in both the CMO program and the Executive MBA program.

It’s unusual for anyone to be equally skilled in distinct skills like finance, healthcare delivery, people management, and so many other topics. We try to build skills in each specific area, as well as teach our participants how to balance across these demands and communicate effectively to different audiences.

Michael Sacks, professor in the practice of organization and management

Any MBA graduate will tell you Excel is a key component of their training. But the Executive MBA program taught Esper so much more than just how to read a spreadsheet. “There are techniques you learn in operations that help you when you’re managing specific projects. When looking at data and analytics, it’s the ability to understand what data was pulled, and how. You ask ‘Is the data answering the most important question?’” he says. “Oftentimes I’ll have experience that I draw on from my case studies. I’m applying things I learned in business school to existing problems in healthcare.”

Handling the Staffing Crisis and Retaining Quality Professionals

Staffing issues have become a common problem in most healthcare and hospital systems. It’s an issue that all CMOs and healthcare executives have to face. The pandemic accelerated retirements of the baby boomer generation. That was expected to happen more slowly over the next 20 years. Burnout of medical staff from the intense and long workdays did not help. “Money is certainly part of the situation; however, it’s much more complicated than that” says Sacks. “Healthcare is a very demanding and challenging workplace where people literally make life or death decisions. Creating an environment where teams work well together, people feel psychologically safe to speak their minds, and support one another in difficult times is essential in healthcare.”

Healthcare workers are so much more than just their roles within an organization, according to Jaclyn Conner, associate dean of the Executive MBA program and Evening MBA. Goizueta graduates learn to work with healthcare workers as both people and employees. “Quality leaders acknowledge that there are people at the core of any operation. It is vital to have empathy, compassion, and consideration as a leader,” she says.

Challenging decisions have to be tackled daily, but strong organizations have a sense of community and core values. Our Executive MBA alumni profess strong values and implement them as leaders.

Jaclyn Conner, associate dean of the Executive MBA program and Evening MBA

One way to circumvent staffing gaps might actually be technology, according to Kier. “We do not have the human capital to do things the way we used to do them. So it’s an exciting moment for technology, because it can help. AI has so much promise in all the things that you’d think of it for. It can remove rote tasks. These are things that are mindless, that we currently pay humans to do because somebody has to push the buttons. AI will certainly be doing all those things.”

The Transformative Power of Executive Education

In the meantime, humans are still running the business of healthcare. Advancing knowledge through an executive education program is one way to keep up with the ever-changing business. Esper says says people ask him about Goizueta’s Executive MBA often. He says they should have a good reason to pursue such a degree. That’s the key success in the program.

“People ask me all the time, ‘I want to get an MBA. What do you think?’ I will tell people that it’s not just three letters behind your name, or behind an MD. That doesn’t mean much if you don’t know why you’re getting it and what you want to do with it.”

Education can be transformational, but you have to lean in and approach the process with purpose. That will be the real game changer.

Are you looking to level up your career? Learn more about Emory Executive Education, our top-ranked Executive MBA, and Goizueta Business School’s many other degree programs to chart your own path to success.

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Going Global Starts at Goizueta https://www.emorybusiness.com/2023/12/07/going-global-starts-at-goizueta/ Thu, 07 Dec 2023 18:12:20 +0000 https://www.emorybusiness.com/?p=30442 From international modules designed to foster global perspectives to renowned faculty research shaping countries around the world, and on-campus educational opportunities for young leaders from dozens of countries, Goizueta is building on its strong foundation of global impact and expanding global reach. “Goizueta is doubling down on global,” says Brian Mitchell, associate dean of full-time […]

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From international modules designed to foster global perspectives to renowned faculty research shaping countries around the world, and on-campus educational opportunities for young leaders from dozens of countries, Goizueta is building on its strong foundation of global impact and expanding global reach.

“Goizueta is doubling down on global,” says Brian Mitchell, associate dean of full-time MBA programs and Goizueta Global Strategy and Initiatives.

The key to driving global impact? “Relentless collaboration,” Mitchell says. “The strategy is fueled by collaborations that help us create value for Goizueta. We’re delivering programs that are more interdisciplinary.” That requires a deeper level of partnership not only across Emory’s campus, but with Goizueta’s partners across the globe. To that end, Goizueta is working to strengthen existing partnerships with university entities, including Global Strategy and Initiatives, Atlanta Global Partnerships, and Advancement & Alumni Engagement. It’s doing likewise with organizations such as Partnerships in International Management (PIM), a consortium of top business schools around the world.

“We are creating programs and opportunities for students to be global citizens, global business leaders,” says Megha Madan, senior associate director of Goizueta Global Strategy and Initiatives.

Italy & France: Decoding Wine Markets

Giacomo Negro

For more than a decade, Giacomo Negro, professor of organization and management, has researched wine markets in Italy and France. After interviewing more than 100 winemakers, critics, journalists, restaurant owners, and retailers in Piedmont, Tuscany, and Alsace, Negro and his co-authors Michael T. Hannan and Susan Olzak of Stanford University released, “Wine Markets: Genres & Identities.” The book describes how wine genres help reduce the great diversity of products and producers in the market and how collective identities from wine genres help producers organize their interests. The research focused on winemaking, but authors note the findings can “inform studies of all kinds of organizational settings in which market partitions like genres create new collective identities and boundaries.”

Osh, Kyrgyzstan: Transforming Kyrgyzstan’s Education

Aselia Kupueva 99BBA with students at Kupuev Academy in Osh, Kyrgyzstan

In 2019, Aselia Kupueva 99BBA co-founded Kupuev Academy in Osh, the southern capital of Kyrgyzstan. With more than 500 students and 80 full-time staff, Kupuev Academy is one of the top schools in Kyrgyzstan. The primary through high school curriculum focuses on math and science, Russian and English language, and IT. Elective courses and extracurricular activities, such as debate, financial literacy, entrepreneurship, and media, are designed to emphasize creativity and critical thinking. This September, the school will open a new building with 20 additional classrooms.

Atlanta, USA: African Leaders Explore Emerging Technologies

Young African Leaders Institute (YALI) fellows during their visit at Goizueta.

This July, two dozen Young African Leaders Institute (YALI) fellows from 18 African countries visited Goizueta to learn about emerging technologies. The event was hosted by Benn Konsynski, George S. Craft Distinguished University Professor of Information Systems & Operations Management. It featured sessions by Goizueta faculty and a team from Microsoft. Topics included ChatGPT and the future of work.

International Modules Broaden Horizons, Bolster Careers

In May, students from across MBA cohorts visited South Korea, South Africa, Germany, and Austria. They trips are part of Goizueta’s Global Experience Modules (GEMs). These modules introduce students to business practices and challenges on a global scale. Students not only experience cultural immersion, but walk away with practical business knowledge they can use in their careers.

Students on a GEMs trip to South Korea

Seoul, South Korea: Exploring the International Film Industry

During this GEM trip, students were treated to an intimate lunch with alumnus Woo Taek Kim 90MBA. Kim is founder and CEO, Next Entertainment World (NEW). He has also served as executive producer of dozens of films, many reaching global audiences. Students toured Haedong Younggungsa Temple while on the tip. They also learned about technological innovations in South Korea through a lecture from Korea Advanced Institute of Science & Technology.

Germany & Austria: Lessons in Business and History

In Vienna, students visited manufacturing company Asamer, run by alumnus Manfred Asamer 86MBA, to discuss business strategy. A visit to Mauthausen Concentration Camp reinforced that the absence of principled leadership can have tragic consequences.

Cape Town, South Africa: Learning from Local Entrepreneurs

Students at the Cape of Good Hope in South Africa

Goizueta students traveled to South Africa and engaged in a number of experiential learning opportunities. Their journey began in Cape Town and extended to Johannesburg, South Africa’s industrial and financial center. There, the students visited Emory’s longtime partner, the Gauteng Provincial Government Innovation Hub. The organization was established to promote the region’s economic development and competitiveness by fostering innovation and entrepreneurship. Students met with local entrepreneurs and heard about how the Innovation Hub helped them grow their businesses.

Antigua, Guatemala: Coffee’s Climate Implications

Touring a coffee farm in Guatemala.

As part of the specialty coffee programs for Goizueta’s Business & Society Institute, a group of BBA and MBA students visited specialty coffee growing communities in Guatemala. Students toured coffee farms to learn about the climate implications of coffee production. They also spoke to local farmers about the injustices in the coffee supply chain.

Cairo, Egypt: Attending the United Nations Convention on Climate Change

Danni Dong 23MBA 23PH in Egypt.

Last fall, a delegation of Emory undergraduate and graduate students—including Danni Dong 23MBA 23PH—attended the first week of the United Nations (U.N.) Framework Convention on Climate Change in Egypt. As official U.N. observers, the students sat in on negotiations and co-hosted a panel discussion, “Youth: From Resistance to Power,” in conjunction with the Climate Justice Program. Young activists from Pakistan, Kenya, Mexico, and the Philippines also took part in the discussion.

British Virgin Islands: A Lesson in Leadership on the High Seas

One of the premier leadership development programs for Full-Time MBA students is Goizueta’s Advanced Leadership Academy’s curriculum. It takes place in the spring semester of the students’ final year. One of the highlights of the program is a weeklong sailing trip in the British Virgin Islands. Gen. Ken Keen and Professor JB Kurish lead the trip. On a 50-foot sailboat, students serve in several roles— captain, cook, helmsman—and face a unique challenge each day. Students hone their listening and communication abilities and put the problem-solving skills they learned in the classroom to the test in an unfamiliar and intense environment.

Durban, South Africa: Applying Multi-Disciplinary Training to Maximize Healthcare Impact in Africa

AHIA workshop in Durban, South Africa

Advancing Healthcare Innovation in Africa (AHIA) is a 15-year-old Emory-based program. It leverages multi-disciplinary faculty and students to facilitate workshops for African startups. AHIA aims to maximize the impact that these startups make on local healthcare systems across Africa. Over the past year, AHIA has led workshops in Durban, South Africa, as well as Cairo, Egypt. Over 200 African entrepreneurs and graduate students have participated in the workshops. AHIA also runs virtual training and educational programs on the business aspects of building and scaling health-related social enterprises.

Goizueta’s global strategy is designed to be flexible in order to adapt to new opportunities and a changing geopolitical and higher education landscape. Meant to serve as a framework for Goizueta’s global engagement, the strategy outlines initiatives designed to equip students to meet the opportunities and challenges of an increasingly interconnected world, empower faculty to lead and influence global scholarship and research, and position Goizueta as a school known for its global impact. Learn more about how Goizueta is going global.

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Meet Thomas and Susan Bisanz: Giving Back on a Global Scale https://www.emorybusiness.com/2023/11/27/meet-thomas-and-susan-bisanz-giving-back-on-a-global-scale/ Mon, 27 Nov 2023 21:48:50 +0000 https://www.emorybusiness.com/?p=30362 Thomas 75BBA 80L and Susan Bisanz 75BBA are a power couple with a Goizueta Business School-centered love story: they met in class. Tom sat in the back row and Susan sat in the front. Tom says he fell in love with Susan within three weeks of meeting her. The duo have since led successful careers. […]

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Thomas 75BBA 80L and Susan Bisanz 75BBA are a power couple with a Goizueta Business School-centered love story: they met in class. Tom sat in the back row and Susan sat in the front.

Tom says he fell in love with Susan within three weeks of meeting her.

The duo have since led successful careers. After graduating fourth in his class and putting hours at the pool as a varsity swimmer, Tom went on to spend much of his career in real estate law and actively works with clients in the industry. Susan spent many years working in finance, including for AT&T while still in graduate school, before she switched gears and became a middle and high school teacher, a job she found very rewarding.

A Philanthropic Legacy in Education

But there’s so much more to the Bisanzes than their impressive careers; they’re also active philanthropists. The couple’s newest endowment to one of their beloved institutions is the Susan Hill Bisanz BBA Scholarship Endowment for students in Goizueta’s accounting program, where Susan spent her formative years.

This scholarship is the sixth that the pair have endowed for students at universities and prep schools. “Students are tomorrow’s leaders. Since attending school today is so expensive, this is one of our ways of contributing to a better tomorrow,” says Susan.

Another contribution they’ve made to Emory is the Thomas L. Bisanz Endowed Scholarship for the Center of Transactional Law and Practice within the School of Law, where Tom served as a member of the advisory board for eight years.

Beyond Borders: The Bisanzes’ Global Impact

However, the scholarships are only one facet of the Bisanzes’ philanthropy. The couple have also donated a main building and apartment building to a hospital complex in Uganda. The facility is dedicated to providing health care to mothers and their children. Additionally, they have funded 16 clean water projects for schools in Kenya.

“We live by one of our favorite lyrics. ‘To whom much is given, much is required,’” says Tom. He works in the residential rental business as a real estate attorney, broker, developer, and investor, in addition to being an owner of apartment properties and single-family rental homes.

Tom has been immersed in the world of real estate since he was born. His father was a home builder and apartment developer and owner, and both of his brothers owned and managed apartments. “The residential rental business has always been in my DNA,” he says.

The pair now live in Dallas, Texas, and within driving distance of their three children and five grandchildren.

Looking for opportunities to give back? Your support of scholarships helps us attract and retain top students and improve the diversity and talent of our student body. Give today!

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Meet Ken Keen: Teaching Lessons in Character and Confidence https://www.emorybusiness.com/2023/11/16/meet-ken-keen-teaching-lessons-in-character-and-confidence/ Thu, 16 Nov 2023 22:42:20 +0000 https://www.emorybusiness.com/?p=30272 Throughout National Veterans and Military Families Month, Emory Business will introduce readers to the stories of veterans who excel at Goizueta and are thriving in their careers. Here, we meet Lieutenant General USA (Ret.) Ken Keen. Ken is Goizueta Business School’s associate professor in the practice of organization and management and associate dean for leadership. […]

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Throughout National Veterans and Military Families Month, Emory Business will introduce readers to the stories of veterans who excel at Goizueta and are thriving in their careers. Here, we meet Lieutenant General USA (Ret.) Ken Keen. Ken is Goizueta Business School’s associate professor in the practice of organization and management and associate dean for leadership. In addition, he serves as program lead for the school’s new Master in Business for Veterans degree.

Lieutenant General USA (Ret.) Ken Keen began his journey at Goizueta Business School in 2013. That’s when he first accepted the new position of associate dean of leadership. Since then, he’s become an an integral member of the faculty. His most recent initiative is spearheading the new Master in Business for Veterans program. It comes after a decade of developing programming and coursework designed to instill MBA students with the leadership acumen they need to succeed in business and in life.

“You need to learn how to inspire, influence, persuade, show empathy, listen to others, communicate effectively, and be present,” says Keen. “These programs allow students to put leadership into action.”

Forging Future Leaders

Leading by example is a core tenet of Keen’s curriculum, as evidenced in the many hands-on learning opportunities he oversees.

Through the one-day Leader’s Reaction Course, every Goizueta MBA student tackles several challenging obstacles at the U.S. Army post at Fort Moore, learning leadership along the way. The Goizueta Advanced Leadership Academy offers students the opportunity to put their skills to the test in a high-pressure, weeklong sailing adventure. In the Delta Air Lines Leadership Coaching Fellows program, students work one-on-one with an executive coach. They train to become peer coaches for other MBA students, learning to effectively interact with teams and individuals to improve performance.

People often ask Keen about the importance of leadership programming in higher education. “It’s important that students have a balance between learning hard and soft skills,” says Keen. “If you want to make a huge difference in society and business, you must know how to lead others effectively.”

Leading Beyond the Classroom

Today, Keen puts his own leadership skills to work in and out of the classroom. He currently serves on the advisory boards of HOPE Atlanta, the Witness to War Foundation, and the Foundation for Atlanta Veterans Education and Research. He also acts as Chairman of the Board of the U.S. Army Ranger Hall of Fame.

Keen often speaks to students about “showing up” as leaders. He tells them that good leaders know when to roll up their sleeves and do the work they’re asking others to accomplish.

I often remind my students that leadership is easy, but leading is hard.

Ken Keen

Spoken like a true leader.

The Master in Business for Veterans is specifically for military veterans, active duty, National Guard, and Reserve personnel looking to transition to a civilian career in business. The program leverages veterans’ management and leadership experience from the military. It pairs this experience with the business knowledge needed to transition into a wide range of industries. Learn more here.

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Meet Michael Nyenhuis: Global Humanitarian and CEO of UNICEF USA https://www.emorybusiness.com/2023/11/13/meet-michael-nyenhuis-global-humanitarian-and-ceo-of-unicef-usa/ Mon, 13 Nov 2023 22:13:10 +0000 https://www.emorybusiness.com/?p=30205 Michael J. Nyenhuis 12EMBA is the President and CEO of UNICEF USA, bringing more than 25 years of global humanitarian and development experience, fundraising acumen, and proven results to the role. Founded in 1946, the United Nations Children’s Fund (UNICEF) has helped save more children’s lives than any other humanitarian organization. While the war in […]

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Michael J. Nyenhuis 12EMBA is the President and CEO of UNICEF USA, bringing more than 25 years of global humanitarian and development experience, fundraising acumen, and proven results to the role. Founded in 1946, the United Nations Children’s Fund (UNICEF) has helped save more children’s lives than any other humanitarian organization.

While the war in Ukraine remains a focal point for UNICEF’s efforts, it is just one of nearly 500 crises the organization is tackling in more than 190 countries and territories. Millions of children and their families are in need of humanitarian assistance as a result of war, climate change, famine, displacement, human trafficking, poor sanitation, and lack of access to quality health care services.

Nyenhuis, however, remains optimistic about humanity’s ability to tackle such weighty challenges. “The reality is that the world is a much better, much healthier place for children and others than it was 30 or 40 years ago,” he says. “And the stats bear it out. There are more kids than ever in school, childhood vaccinations are higher, childhood deaths are lower.”

From Journalist to Global Humanitarian

Nyenhuis spent the first 10 years of his career as a journalist with a passion for covering public health issues. He landed a job heading up MAP International’s communications efforts and eventually became the organization’s president and CEO. One of his proudest achievements was forging a partnership with former President Jimmy Carter and The Carter Center. The partnership resulted in the successful to eradication of the Guinea worm from the West African country of Côte d’Ivoire. “Sometimes I think when you really find your calling, the doors just keep opening,” he shares.

One of those doors was to Emory University’s Goizueta Business School. Jeffrey Rosensweig, associate professor of finance, joined MAP International’s advisory board. He was instrumental in helping the organization extend its networks into the Atlanta area. “Jeff’s a brilliant economist and truly a global thinker,” Nyenhuis says. “He proved to be a great counselor to me and MAP.”

Over time, Rosensweig convinced Nyenhuis that pursuing a formal business education would help him better lead the organization. Nyenhuis enrolled in Goizueta’s Executive MBA program.

It really opened my eyes working with a cohort of students who had experience in the traditional corporate world. I learned a lot, especially about developing a strategic vision and looking at MAP International as a financial organism that needs to sustain itself.

Michael Nyenhuis

Throughout his career, Nyenhuis has remained optimistic that change is possible. “There is a path to a better life for kids across the globe. We are making a real difference, though sometimes it comes gradually. And we have learned that no matter what obstacle we face, we can beat it. We just have to stick with it.”

Interested in pursuing an Executive MBA? Learn more about the unique programs Goizueta has to offer.

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Meet Natalia Rosas Villeda: Empowering Women in Finance https://www.emorybusiness.com/2023/11/03/meet-natalia-rosas-villeda-empowering-women-in-finance/ Fri, 03 Nov 2023 12:33:00 +0000 https://www.emorybusiness.com/?p=30087 As a first generation student, Natalia Rosas-Villeda 23MAF understands the power of a degree. Rosas-Villeda began her college career at Agnes Scott College with an interest in public health, but soon discovered she wanted to learn more about the quantitative side of the field. That’s what led her just down the road to Emory’s Goizueta […]

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As a first generation student, Natalia Rosas-Villeda 23MAF understands the power of a degree. Rosas-Villeda began her college career at Agnes Scott College with an interest in public health, but soon discovered she wanted to learn more about the quantitative side of the field. That’s what led her just down the road to Emory’s Goizueta Business School. Rosas-Villeda quickly learned about the Master of Analytical Finance program, which provides scholarships for women moving into the finance sector. “Access to scholarships and funds can really make or break whether you will be able to go to college,” Rosas-Villeda says. “If it wasn’t for the Golden Door Scholarship for undergrad and Business Fund for Excellence for grad school, I wouldn’t have the very valuable education and personal success I do today.”

Goizueta Master in Analytical Finance graduate Natalia Rosas Villeda
Natalia Rosas Villeda

Because of her scholarship, Rosas-Villeda was able to fully immerse herself in the Master of Analytical Finance program, including serving as a social chair, admissions ambassador, and a student blogger for Voice of Goizueta. She represented Goizueta in the 2nd Annual Chartered Financial Analyst Atlanta Society Ethics Challenge where her team triumphed in first place.

While she continued to find success at Goizueta, Rosas-Villeda also struggled with imposter syndrome. As a woman who immigrated from Mexico, she couldn’t help feeling that so many others deserved this success just as much as she did. However, Rosas-Villeda says she now looks at her success as an opportunity to set an example for those she hopes will follow in her footsteps.

To be going forward with my education and a career and showing younger women and girls that look like me and who have the same background that it’s okay to put yourself first is a very rewarding experience. I feel like my sacrifices and hard work have paid off.

Natalia Rosas-Villeda

Rosas-Villeda had to overcome yet another obstacle after suffering a mild traumatic brain injury while snowboarding in Colorado. Her accident led to a battle with post-concussive syndrome accompanied by high anxiety. She tried to find therapeutic exercises that fit her tight schedule and rested as much as she could―but she continued to struggle with mental exhaustion. Rosas-Villeda worked with Emory Counseling and Psychological Services and a therapist two to three times a week during her recovery. Rosas-Villeda credits the tremendous support system at Emory for helping her complete her program, graduate, and begin her career as a healthcare consultant at accounting firm PYA.

“It was definitely a huge setback for me at that age and point in life,” she says. “But whatever I could do before, I know I can learn how to do even better, and that’s what I’m working on now. One thing that it taught me was to tell people when you need help and be okay with your vulnerability when you’re in a position like that,” Rosas-Villeda says. “Being mindful and taking a step away from the craziness of life, I learned how to enjoy things in the moment and save the problems of the future for the future.”

Interested in pursuing a Master of Analytical Finance degree? Learn more about the unique programs Goizueta has to offer.

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Preparing the Workers of the Future https://www.emorybusiness.com/2023/11/02/preparing-the-workers-of-the-future/ Thu, 02 Nov 2023 19:30:19 +0000 https://www.emorybusiness.com/?p=30020 The future of work. What does it mean? For some, thoughts of artificial intelligence, doom and gloom, or robots taking over the world might come to mind. After all, it’s the age of generative AI—a seemingly magical technology that can create artwork, write papers, or build code—all within seconds. Where do humans fit in? Goizueta […]

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The future of work. What does it mean?

For some, thoughts of artificial intelligence, doom and gloom, or robots taking over the world might come to mind. After all, it’s the age of generative AI—a seemingly magical technology that can create artwork, write papers, or build code—all within seconds.

Where do humans fit in?

Goizueta Business School graduates fit in everywhere. The future of work is an exciting prospect, and they are ready for it. These workers of the future are embracing their passions and pursuing multiple careers, making business decisions for the betterment of society, leveraging technology to enhance their
skills, and learning how to lead dispersed, remote teams.

Goizueta graduates don’t fear the future. They embrace it.

The Value of High-Tech Skills

“Technology is what it is, and we have to keep up with it and be familiar with the latest tools, but at the end of the day, the theory is a theory. [We] know the underlying math that goes into AI and that enables us to make informed decisions that will eventually make an impact on whatever project we’re working on,” says Sebastian Peña 19BBA 20MSBA, a management consultant for Accenture.

Recently, Peña faced having to write JavaScript, a language he doesn’t know, for a client. He planned on taking a course, but with the popularity of generative AI (like ChatGPT), Peña decided to turn to tech. Armed with a basic understanding of how to write code, Peña leveraged AI to fill in the gaps. A task that would have taken Peña several weeks took an hour.

Being a worker of the future means utilizing available tools to amplify your existing skills, he says.

“It’s easy to imagine a dystopian future, where most jobs are automated and workers disappear, but I think our students today are equipped to imagine a future where technology instead enables more prosperity and sustainability,” says Wes Longhofer, associate professor of organization and management, associate professor of sociology (by courtesy), and executive academic director of Goizueta’s Business & Society Institute. “If they can imagine it, then they can create it.”

Gathering the Data Points of Your Career

Research shows that younger generations find job-hopping beneficial. Multiple careers are—and will continue to be—the norm. The U.S. Bureau of Labor Statistics found that, in September 2022, employees stayed with their current jobs an average of four years. This is especially true for younger generations.

Urvi Bhandari 99BBA 06MBA has no problem admitting that many of her career choices were directly tied to what was going on in her personal life at the time. That’s not to say her decisions weren’t driven by her professional aspirations. But they were equally tied to what was best for her, whether it was working for AT&T, The Coca-Cola Company, IBM, or Walmart—or being a nomad while in her executive roles.

“I want people to understand that life matters,” says Urvi, executive career coach and co-founder of peppercorn.ai.

The premise of Peppercorn.ai is to remove resumes from the equation and focus on the candidate. Rather than having prospective employees mold their story to fit a job description, the platform revolves around supporting the candidate to have clarity and confidence in their journey.

“We make business decisions with data points. Why don’t we make decisions for ourselves based on data points?” argues Urvi. “The world is changing. There is no one way to approach a career.’”

“Workers of the future are no longer going to be doing things because ‘that’s what the path is.’ There is no path,” Urvi continues. “People are making their own paths by taking control of articulating who they are, knowing where they’re going, and marketing what they offer.”

Forward Facing: How Business and Society Can (and Should) Mingle

Longhofer has nothing but optimism for the workers of the future and what they can accomplish for businesses—and for society.

Goizueta's Wes Longhofer
Wes Longhofer

Generation Z values a business’s societal and cultural impact, sometimes over salary and benefits, according to research by Deloitte. A vast majority (77 percent) of respondents cited social activism, and the evidence of it, as a high priority when deciding whether to work for a company. Workers of the future want companies with good values and ethics and a commitment to confronting societal issues, such as sustainability, climate change, and hunger.

As technology and AI advance at an unprecedented pace, workers of the future will be the ones who remind us that human flourishing and planetary survival are still essential.

Wes Longhofer

Workers of the future will have to combine their analytical and technological skills with creative solutions to address business needs. “It’s not enough to optimize your supply chain for peak efficiency. You also need to embed human rights into it and report your scope 3 emissions,” says Longhofer.

As complex as these challenges might sound, students at Goizueta are already rising to the occasion. The Business & Society Institute embeds this system-thinking approach into classes, experiential learning, global modules, directed studies, clubs, conferences, and case competitions. Students are being introduced to climate change and inequality. They’re given ample opportunities—in a variety of formats—to put their skills to the test in safe, supported environments before bringing their knowledge and ideas to their future companies.

The Power of People Skills

Ken Keen
Ken Keen

Workers of the future need not only the technical skills learned in class, but also soft skills. Whether a company conducts business in person or operates remotely, leaders of today and tomorrow must know how to lead through a screen and across time zones.

“The human factor of leading becomes increasingly important in a complex, uncertain, and volatile world where you’re not just leading in person anymore,” says Lieutenant General USA (Ret.) Ken Keen, associate dean for leadership and associate professor in the practice of organization and management.

As technology continues to advance, managers and executives must also know how to lead those whose technical knowledge surpasses their own. Whether you’re the chief financial officer or chief operating officer, you must know how to lead a league of people with varying skill levels.

Brian Mitchell
Brian Mitchell

“Every business is a people business,” says Brian Mitchell, associate dean of the Full-Time MBA programs and Goizueta Global Strategy and Initiatives. “You have to be able to relate to people and be relatable. A great leader cannot lead one way and expect everyone else to conform. They have to be able to manage many different work styles and personalities.”

Adapting to the Shifting Landscape

In addition to learning how to manage across styles and personalities, growth is key. That’s where continued education comes into play, shares Nicola Barrett, Goizueta’s chief corporate learning officer. “Changes in both technology and societal expectations require anyone in business to adopt new skills, approaches, and mindsets. They must become digitally fluent and to re-create their playbook to see, design, and unlock new growth opportunities. Emory Executive Education works with organizations and their professionals to develop these critical capabilities to catalyze new growth possibilities.”

Goizueta's Nicola Barrett
Nicola Barrett

Goizueta’s leadership is also constantly reviewing and tweaking its programs. The undergraduate BBA program, led by Andrea Hershatter, senior associate dean of undergraduate education and associate professor in the practice of organization and management, launched adjustments following a deep review in order to remain relevant to the latest scholarly research, recruiter and business needs, and alumni feedback.

“The revised curriculum enhances our ability to equip our students for an increasingly data-driven world in which the outcomes of business decisions are multifaceted and far-reaching. It simultaneously helps us build our student competencies and address their desire to create individualized and customized academic experiences,” says Hershatter.

Andrea Hershatter

The school’s highly ranked MBA program is next. One of the focus areas of the review is enhancing the global nature of the program, more deeply weaving experiential learning into the curriculum, rather than treating such opportunities as optional additions to the standard MBA track. 

“So much of the work of the future is going to happen irrespective of borders,” shares Mitchell. “Workers of the future are going to be global by definition.”

Gaining Global Perspectives

For Evan Lyons 22MBA, being global is inherent. Lyons learned to walk in England, and played soccer in Brazil as a teenager. He participated in an exchange program, then internship in France, and met his wife in Mexico. He can speak English, French, and Spanish fluently and has a working knowledge of German and Portuguese.

Lyons found immense value from his global experiences when he owned his own consulting company. He now uses that experience in his job as an investment banker for Bank of America. Lyon tries to begin meetings in the language of the country he’s in. He always downloads the local holiday calendar to be aware of how the area’s cultural traditions might impact workflow.

MBA graduates and workers of the future have to understand the global perspective because most major companies are global. If you want to rise up in any organization in any industry, you have to be able to understand where the company is playing, how to build relationships across cultures, and develop strategies that can flex and work in other places.

Evan Lyons 22 MBA

This diverse perspective—and the willingness to meet people where they are—builds relationships and strengthens leadership skills. Both of these are critical skills for workers of the future.

“The future is now for all of these things. They’re incremental steps. They are small innovations that lead to big innovations and big changes,” says Lyons. “The workers of tomorrow, the leaders of the future, they are in the workplace today.”

Interested in pursuing a business degree? Learn more about the unique programs Goizueta has to offer.

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Meet Maria Fernanda Genie: The Globetrotting MBA Student Transforming her Family’s Pharmaceutical Company   https://www.emorybusiness.com/2023/10/13/meet-maria-fernanda-genie-the-globetrotting-mba-student-transforming-her-familys-pharmaceutical-company/ Fri, 13 Oct 2023 21:24:15 +0000 https://www.emorybusiness.com/?p=29895 Driven by a passion for learning, Maria Fernanda Genie 24MBA takes any opportunity to expand her knowledge, often with a global approach.  “I am ambitious,” Genie says. “I always want to know more.”  Originally from Honduras, Genie sought out an undergraduate education at Georgetown University, diversifying her studies with majors in marketing and management and […]

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Driven by a passion for learning, Maria Fernanda Genie 24MBA takes any opportunity to expand her knowledge, often with a global approach. 

“I am ambitious,” Genie says. “I always want to know more.” 

Originally from Honduras, Genie sought out an undergraduate education at Georgetown University, diversifying her studies with majors in marketing and management and a minor in theology. She spent semesters abroad in Hong Kong and Barcelona. 

After traveling to Japan for a post-graduation trip, Genie worked at a cybersecurity firm in San Francisco. Then, after a year in California, she relocated to Mexico City to help build the company’s Mexico office. After six months in Mexico, Genie returned to her Honduran family business, Henie Farma, a pharmaceutical company founded by her father and grandfather that manufactures and distributes branded generic medications. 

Genie created and manages Henie’s marketing department, transforming the business from largely door-to-door sales by creating more focused marketing strategies and digitizing company processes. 

“I brought my knowledge of common U.S. business practices, technologies, and tools back home,” she says. 

A Small Class Packs a Big Punch

After Genie got married, she honeymooned in South Africa before moving to Atlanta—six minutes from Emory’s campus. She always imagined earning her MBA but didn’t know when she would return to school. After seeing Emory around town, she decided to apply. 

“I want to have bigger oversight of the family business,” Genie says. “I want to learn more about operation, strategy and management. Because I specialized in marketing, and that’s what I’ve practiced throughout my career, I became pigeonholed into marketing. I want to gain more experience in other mindsets.” 

Now several months into Goizueta’s One-year MBA, Genie reflects that the program is intense, but her 42-person class feels intimate. 

My class is half international, half American, so you can just imagine the difference in perspectives and cultures. It’s not only what you learn in the classroom, but what you learn from your classmates. 

Maria Fernanda Genie

“The professors know your name, where you’re from, what you want to do, so they tailor the information,” Genie says.

Global Ambitions

Genie says Henie Farma has a lot of opportunities for growth. One of her aspirations is to expand the company to include a skincare line. 

Genie will continue to work for the company remotely from Atlanta—taking any chance to travel back home or elsewhere. 

“I like to learn about different cultures, and the best way to do that is traveling—eating from different cultures, talking to people about their cultures,” Genie says.  

So far, Genie has visited 38 countries, and says India and Korea are next, after having met several Emory peers from the two countries. 

Her involvement with the family business alone will keep her moving. 

“Our medicines are manufactured in Honduras, but really the only part that’s Honduran is labor,” she says. “Pretty much everything else is from a different part of the world. Our supply chain is extremely global. There’s always traveling in business.” 

Whether you’re looking to accelerate your career or make a career pivot, our full-time One-Year MBA and Two-Year MBA programs and part-time Evening MBA and Executive MBA programs, prepare you to challenge business as usual and become the innovators who disrupt it. Learn more here. 

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Meet Lauren McGlory: Educator, LinkedIn Leader, and Alumni Board Member https://www.emorybusiness.com/2023/10/06/meet-lauren-mcglory-educator-linkedin-leader-and-alumni-board-member/ Fri, 06 Oct 2023 20:59:48 +0000 https://www.emorybusiness.com/?p=29753 Lauren McGlory 16MBA loves to be “Day One Ready.” When she wakes up in the morning, her goal is to hit the ground running and make an impact that day. The Detroit, Michigan native studied psychology and history at the University of Virginia and had lined up a full ride to attend law school, when […]

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Lauren McGlory 16MBA loves to be “Day One Ready.” When she wakes up in the morning, her goal is to hit the ground running and make an impact that day. The Detroit, Michigan native studied psychology and history at the University of Virginia and had lined up a full ride to attend law school, when she made the conscious decision to pivot her career path and start working for Teach for America. Her two-year commitment soon turned into five years working in inner cities like Los Angeles and Washington D.C. “During that time, I learned a lot about what actually matters in the world and life,” McGlory says. “I was teaching a class of kids in front of me, and I had their lives in my hands.”

Goizueta MBA Grad and Alumni Board Member Lauren McGlory 16MBA

While she enjoyed her time in the classroom, McGlory realized she would need an MBA to truly be heard at the administrative level and to help make the tough decisions. McGlory turned to Goizueta’s Two-Year MBA program and focused her studies on courses in the Marketing and Organization & Management departments, knowing she would soon be entering an unfamiliar business world. “I felt like if I was going to enter corporate America, especially coming from the nonprofit world, I needed to get a better understanding of what corporate America is and how they look at things,” she says. “I also had an interest because of my psychology background. I always loved understanding why people make certain decisions and why people act certain ways.”

McGlory credits Goizueta with teaching her how to be “Day One Ready” and preparing  her for a position at PepsiCo after graduation. She now leads global strategy and accounts for LinkedIn Media Productions. “Whenever I have any doubts because I was a teacher and educator, and I’m next to people who are investment bankers, consultants, or finance people, I just think back to my time at Goizueta and what I was able to accomplish there, like getting a full ride to go to Emory, being the first female black student body president and graduating the top 10 percent of my class. It gave me the confidence that I never thought I needed.”

Lauren McGlory speaking at her graduation from Goizueta Business School
Lauren McGlory speaking at her Goizueta graduation

In her current role, McGlory leads a team that creates content to help drive people to use the LinkedIn platform, including creating live videos, episodes, and mobile studios where individuals can host fireside chats and panels. She says working at LinkedIn has brought her back to her educational roots and allowed her to make an impact and help others. “I landed on LinkedIn because I realized their mission is very aligned directly to my own, which is helping people and connecting people to other opportunities,” McGlory says. “I wake up every day and know I’m helping move the needle.”

Creating connections doesn’t stop with her day job, however. McGlory has also served as a member of Goizueta’s Alumni Board for the past two years in the hope of connecting more alumni to current students. “Our job right now is figuring out how to bridge that knowledge gap and making sure that all students feel that they are a part of Goizueta” she says.

Lauren McGlory with members of Goizueta's 2016 Two-Year MBA cohort at an award dinner
McGlory with members of her cohort at a Dean’s Award Dinner

Outside of her work life, McGlory loves spending time with her fiancé, Naeem and her Yorkie, Virginia. She enjoys cooking, baking, and making charcuterie boards. Above all, though, she finds relaxation and peace in her happy place—anywhere on or near water.

“The one thing that I tell people is just live your life,” she says. “Life is very fleeting. Adding any unnecessary hate, judgment, or drama is just overkill. You don’t need to do that so just try coming in with grace and love.”

Learn more about how you can volunteer with Goizueta, engage with fellow alumni, access career resources, and invest in the future of Goizueta. If you are interested in joining the alumni board or would like to nominate another alum, contact Lindsay Topping at Lindsay.topping@emory.edu.

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Meet Jason Payton: Alumni Board President and Master Relationship-Builder  https://www.emorybusiness.com/2023/10/03/meet-jason-payton-alumni-board-president-and-master-relationship-builder/ Tue, 03 Oct 2023 20:54:39 +0000 https://www.emorybusiness.com/?p=29719 Jason Payton, 12EvMBA, is a natural relationship-builder. From keeping in touch with fellow students, professors, and faculty from his Evening MBA cohort to building exceptional relationships with clients in his role at Scott Madden, a management consulting firm, Payton’s passion for people is the through-line that led him to be elected president of the Goizueta […]

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Jason Payton, 12EvMBA, is a natural relationship-builder. From keeping in touch with fellow students, professors, and faculty from his Evening MBA cohort to building exceptional relationships with clients in his role at Scott Madden, a management consulting firm, Payton’s passion for people is the through-line that led him to be elected president of the Goizueta Alumni Board for 2023-2024. 

“The most memorable part of my time at Goizueta was the depth and quality of the relationships I formed,” said Payton. When he began looking into pursuing his MBA, career growth and credibility from employers were top-of-mind.

A lot of people think of business school as a transactional experience designed to help students make more money or change careers. What I received instead was a transformational experience.

Jason Payton

Payton kicked off his career as a product specialist at a building products distributor. He worked his way up the ladder to become a national account executive, then made the leap to consulting after he graduated from Goizueta. 

“Emory is, to me, a world-class brand,” says Payton. “When I think of Emory I think of excellence.”

For the sake of his growing family, Payton knew he wanted to further his education in Atlanta, and Goizueta checked all his boxes. “When you think about rigor and accountability, some of the core values of Emory, you’re reminded of what it means to be a strong and ethical leader in the face of resistance,” he asserts. Payton uses the collaboration and relationship-building skills he honed at Goizueta daily in his current role as a partner at ScottMadden. 

Payton joined the Alumni Board in 2017, five years after graduating from Goizueta’s Evening MBA program. He spent several years co-leading the Student-Alumni Mentor Program, which connects current Goizueta students with alumni to foster networking opportunities and professional growth. As one of the longest-running and most successful Alumni Board programs to date, Payton helped facilitate mentor-mentee relationships between 100 to 200 students and alumni each year.  

When asked about his experience on the Alumni Board thus far, Payton says, “It’s about people developing meaningful relationships, helping people have a better experience while at Goizueta, and making alumni feel more connected with the school.” Mentorship has always been integral to Payton’s life; in his free time, he manages a scholarship fund for undergraduate students at his alma mater, Morehouse College, with a group of friends. He also volunteers time advising leadership at North Decatur United Methodist Church. 

Payton was selected as one of the Goizueta 100 honorees in 2019, and he served as vice president of the Goizueta Alumni Board from 2021-2023. He began his term as president in September 2023.  

Did you know that your Goizueta alumni network is 25,000 global members strong? Find out more about how you can volunteer with Goizueta, engage with fellow alumni, access career resources, and invest in the future of Goizueta. Reach out to one of the advancement and alumni engagement team members at gbsalumni@emory.edu.

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Would You Whistle Where You Work? How Nonprofits Could Encourage More Whistleblowing https://www.emorybusiness.com/2023/09/06/how-nonprofits-could-encourage-more-whistleblowing/ Wed, 06 Sep 2023 13:23:14 +0000 https://www.emorybusiness.com/?p=29441 Even in the nonprofit realm, no one can deny fraud exists. The news headlines still have the power to shock. For example: “How Red Cross fraud cost Ebola fight efforts $6 million,” “Indictment in US $6.7 million IT fraud at charity,” and “Nonprofit manager charged with embezzling money meant for disabled kids.” Say you worked […]

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Even in the nonprofit realm, no one can deny fraud exists. The news headlines still have the power to shock. For example: “How Red Cross fraud cost Ebola fight efforts $6 million,” “Indictment in US $6.7 million IT fraud at charity,” and “Nonprofit manager charged with embezzling money meant for disabled kids.”

Say you worked at a non-profit organization that aimed to help children with disabilities. If you discovered that your boss was cooking the books, or manipulating financial statements, to make the numbers look better than they really were, would you report it?

Enter the research of Tonya Smalls, assistant professor in the practice of accounting at Emory University’s Goizueta Business School. Smalls brings a combined 25 years’ worth of experience in both for- and nonprofit organizations to inform her academic work. “Being in academia, and coming from industry, it’s important to me to research topics that are relevant for practice,” she says. At Goizueta, Smalls contributes to a growing body of work on the prevention and detection of accounting fraud, ethical decision-making, and whistleblowing, especially as it relates to nonprofit organizations.

Tonya Smalls
Tonya Smalls

In the hypothetical scenario above, Smalls maintains you should make the report. Maintaining trust is key. Reporting wrongdoing, including financial fraud, is in the public interest, for the greater good. Whistleblowers, typically insiders who become aware of wrongdoing and report it, have a crucial role to play rooting out corruption.

In fact, the single most effective way to detect fraud is via whistleblowers. Whistleblowers are responsible for catching nearly half of all organizations’ reported wrongdoing, making them more effective than external audits and other fraud-fighting methods.

And yet, whistleblowing in nonprofits is still relatively uncommon, especially when compared with its frequency in for-profit organizations. Why is that? Fear of retaliation? Indifference or lack of knowledge about its importance?

Whistleblowing Matters

Back when she was serving as chief financial officer for a large regional division of the American Cancer Society, Smalls saw firsthand, from the inside, how the running of nonprofits differed from their for-profit counterparts—even as they faced many of the same pressures. One notable difference was in the presence of regulations requiring strong internal controls—i.e., accounting and auditing processes. Put simply, there are more rigorous requirements for for-profits. At the same time, “internal controls are just as important in non-profit entities,” she explains.

A few years ago, Smalls and her coauthors—Andrea M. Scheetz of Georgia Southern University, Joseph Wall of Marquette University, and Aaron B. Wilson of Ohio University—set out to explore how internal controls—or, more accurately, how perceptions of internal controls—differ between nonprofit and for-profits and how that helps explain whistleblowing. The results were published in Nonprofit and Voluntary Sector Quarterly as “Perception of Internal Control Helps Explain Whistleblowing.”

In a nutshell: If an employee perceives that an organization’s internal controls—including its policies and procedures that define its approval and authorizations, as well as the monitoring of such controls—are strong, that employee is more likely to step up to blow the whistle on fraud if it is witnessed.

This finding leads to a very practical piece of advice: Nonprofits should make sure they have strong internal controls (that are perceived as such by employees) in order to better fight fraud. “This is relevant for practice. It’s advancing the research on whistleblowing, and it is also relevant for practice,” emphasizes Smalls.

The Nuts and Bolts of the Study

In the study, to analyze the strength of organizations’ internal controls and how that strength impacted whistleblowing, the researchers developed survey questions based on the control framework put forward by COSO (so named for the Committee of Sponsoring Organizations in accounting and finance which developed guidance on internal control).  

The final survey was completed by 272 full-time workers who assessed their organizations’ control environment, control activities and monitoring activities (as defined by COSO). Employees were also asked to assess how likely they would be to step up as whistleblowers and report financial fraud to an anonymous hotline or to a superior’s supervisor. They also filled in demographic information.

In the analysis, demographic variables—i.e., participants’ age, gender, education, work experience, and years at current employer—were not deemed significant for predicting the willingness to whistleblow in any significant way. In contrast, the perceived strength of internal controls at each organization was deemed to be very relevant.

More specifically, they found that for-profits and nonprofits with stronger internal controls were more likely to be staffed with potential whistleblowers willing to step up. This is especially relevant in the nonprofit realm because the same group of researchers (that is, Scheetz, Smalls, Wall, and Wilson) demonstrated in previous research that whistleblowing is less likely to occur in nonprofits. Given these findings, they show that the perception of internal controls helps explain why.

Practical Takeaways

In sum, the study data suggest that increasing the focus on control and monitoring activities should benefit organizations, particularly nonprofits, to encourage a culture of whistleblowing.

In practice, many organizations today use anonymous tip lines, so employees won’t fear retaliation if they report wrongdoing at work. Phone lines are one tool, and websites are increasingly popular.

As another takeaway, the researchers noted that nonprofit employees may not yet be as comfortable reporting through a website as their for-profit counterparts are. Knowing this, nonprofit management can take steps to improve internal controls and encourage whistleblowing.

Because even venerable non-profit organizations like the Red Cross can fall prey to deception and fraudulent schemes, these tools to prevent and detect fraud are crucial. 

What next? Smalls’ current research includes a study of leadership style, age, and intention to whistleblow. It’s still too soon to report on results, but the quest to learn more—and pass that knowledge on in scholarship and in practice—continues.

Goizueta faculty apply their expertise and knowledge to solving problems that society—and the world—face. Learn more about faculty research at Goizueta. 

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