**Please note that there will be no Haas NewsWire next week due to the Labor Day holiday. The Haas NewsWire will resume on Monday, September 9.**
The full-time MBA class of 2004 is the highest achieving class in Haas School history, according to statistics released last week. This is on top of another distinction for this year's class: the MBA Program received more applications this year than ever before.
The average GMAT score of the incoming MBA class is 703 (out of a total 800), the first time the average has exceeded 700. The average undergraduate grade point average (GPA) for the new students is 3.55 (for US students).
Pete Johnson and Jett Pihakis, co-directors of full-time admissions, announced the figures at the a first-year MBA orientation reception last week.
The full-time MBA program received a record 4,473 applications this year -- a 37% increase over last year. The program accepted 497 applicants, and enrolled 241 students -- creating an ultra competitive 11% acceptance rate.
The class of 2004 represents over 140 undergraduate institutions, including Princeton, Stanford, UCLA, MIT, Harvard, Pomona, Duke and Cal.
The class is geographically diverse, with students coming from all over the United States and representing 36 countries, including Bulgaria, Italy, France, China, Chile, Trinidad and Tobago, Pakistan, Ukraine, New Zealand, Canada, and Nigeria.
Johnson notes that while all of the incoming students are exceptional, certain student stories stand out. "One student was on MIT Business Plan Competition's winning team as a third year undergraduate," he said. "Another student was selected as one of 20 top future CEOs in Brazil," he continued, "while another was selected as one of Venezuela's 100 best managers." One entering student was featured in a New York Times Magazine article entitled, "The Venture Capitalist in My Bedroom."
The reason for the high achieving class: "The more applications we receive, and the stronger the applicant pool, the more highly selective we are able to be," said Pihakis.
Other key MBA Class of 2004 statistics:
Average age: 28 years
Average of post- undergraduate work experience: 5.1 years
22% ethnic minority students
34% international students
Average salary being left behind: $77,174
The entering class includes:
One of the leading thinkers in corporate social responsibility, Kellie McElhaney, came to the Haas School from the University of Michigan this summer to head the Haas School's activities in socially responsible business leadership. As executive director of the Socially Responsible Business Leadership (SRBL) initiatives, she will expand the school's already significant activities in the area of corporate social responsibility and ethics.
McElhaney also holds a half-time academic position as the Whitehead Distinguished Fellow in Corporate Responsibility. She will oversee the expansion of socially responsible business offerings throughout the Haas curriculum and teach several courses in corporate social responsibility that she developed at the University of Michigan. One course will allow MBA students to work on projects with companies such as Hewlett-Packard, combining winning business practices with corporate social responsibility strategies.
Furthermore, she will guide student activities in social responsibility and expand the Haas School's collaborations with UC Berkeley departments and other institutions to actively promote awareness of socially responsible business issues.
"Kellie built one of the leading academic centers for environmental management at any business school," said Jay Stowsky, associate dean for school affairs and initiatives. "But her expertise in the broader subject of corporate social responsibility is an even better match for the Haas School. We couldn't be more pleased."
McElhaney taught at the University of Michigan Business School from 1993 until 2002, where she also served as managing director of the Corporate Environmental Management Program and developed new courses covering the theory and practice of corporate responsibility. She earned her Ph.D. in higher education at the University of Michigan, her MA in organization behavior and communication at Ohio University in Athens, and her BA in political science and English at the University of North Carolina, Chapel Hill.
Kellie is joined at Berkeley with her husband, David Weinerth, and daughters Isabel, who is three years old, and Juliana, who is ten months.
Robert D. Haas, chairman of Levi Strauss & Co., and Dean Tom Campbell will introduce the first class session of a new MBA course on socially responsible leadership, demonstrating their strong support for initiatives in the area of social responsibility and business ethics at the Haas School. They will speak about how to integrate social responsibility into an MBA education.
The course will meet every Wednesday from 2:00 to 4:00 pm in Cheit Hall C250. The inaugural event on Wednesday, Aug. 28, is designed to draw additional students to the course, although anyone interested in hearing the introduction by Haas and Campbell is welcome to attend. Seats are available on a first-come, first-served basis.
"Introduction to Socially Responsible Leadership" is a student-initiated course; Kellie McElhaney, the new executive director of the Socially Responsible Business Leadership Initiative at Haas, serves as the faculty sponsor. McElhaney explains that the fall course will offer students an overview of socially responsible fields, with guest lectures by Haas School faculty who are already offering electives in these fields. For example:
Will Rosenzweig, founder of The Republic of Tea, will offer a lecture on social missions in entrepreneurship,
Kellie McElhaney will explore how corporations are using social responsibility as a strategy,
Prof. David Vogel will discuss recent corporate scandals and their implications for our understanding of trends in corporate responsibility,
Prof. Fran Van Loo will demonstrate new and traditional philanthropic models,
Prof. Christine Rosen will give a lecture on environmental management.
Dean Campbell has placed high emphasis on the importance of ethics and corporate social responsibility in business education. He has quickly become a spokesperson in the national and international media on the importance of promoting business ethics and higher professional standards.
During his reign as CEO and now as chairman of Levi Strauss & Co., Bob Haas has reinforced the legacy of corporate social responsibility and philanthropy that began with his grandfather Walter A. Haas Sr., after whom the Haas School is named. This legacy grew under the joint stewardship of Bob Haas' late father Walter A. Haas, Jr., and uncle Peter E. Haas, Sr. The family has built the Levi Strauss brand into a household word synonymous with ethical and socially responsible business leadership. Among his many roles, Bob Haas is a trustee of the Evelyn & Walter Haas, Jr., Fund, a Berkeley Fellow, and a member of the Haas School Advisory Board.
A Japanese business school dean who was named by Business Week as one of the "Stars of Asia" will deliver the David A. Aaker Distinguished Lecture in Marketing at the Haas School on September 17, at 4 p.m. in the Wells Fargo Room. The lecture is free and open to the entire Haas community.
Hirotaka Takeuchi is dean of Hitotsubashi University's Graduate School of International Corporate Strategy. Takeuchi, who is also a Haas School alumnus, received both his Ph.D. and MBA degrees (77, 71) at the Haas School.
Takeuchi is known for his expertise in management and marketing, and is responsible for building the first world-class business school in Japan taught entirely in English. Fortune magazine ranked Professor Takeuchi "among the intellectual leaders of the younger, globally-minded generation that is coming to power in Japan," in 1996, and in 2001, Business Week recognized Takeuchi as one of the "Stars of Asia."
Takeuchi comes with an exemplary history in academia. After graduating from the Haas School, he was an assistant professor at Harvard Business School from 1976 to 1983, and joined the faculty of Hitotsubashi University in 1983. He became dean in 1998, and returned to Harvard as a visiting scholar for one year in 1989.
Takeuchi has written six books in addition to numerous articles in various journals including the Harvard Business Review, California Management Review, and the Journal of Retailing. His book The Knowledge-Creating Company, with Ikujiro Nonaka (1995), was recognized by the Association of American Publishers as the "Best New Book of the Year" in the Business and Management category in 1995. David Aaker, the E.T. Grether Professor of Marketing and Public Policy, concurred: "I would say Hiro's book The Knowledge-Creating Company is one of the most influential management books of the last decade."
The David A. Aaker Distinguished Lecture Series, named after the E.T. Grether Professor of Marketing and Public Policy Emeritus, was launched in the spring of 2001 to bring distinguished marketing scholars to campus to address issues in marketing with the Haas School community.
The Berkeley Executive Program (BEP), the flagship program of the Haas School's Center for Executive Development and one of the longest running executive programs in the United States, has succeeded in preparing senior executives from around the world for the strategic management challenges of an increasingly global and technology-oriented business environment for nearly five decades.
This fall's BEP program, in session from September 29 through October 25, enjoys even greater international participation than ever, especially from China and Japan, and Europe. The program addresses both the key issues and the latest strategic thinking for advanced business management.
"The Berkeley Executive Program offers a great opportunity for companies to groom their management talent in global management issues," said Paul Stames, assistant dean for executive learning. "Our participants' exposure to business executives from some of the most dynamic international markets not only is a great networking opportunity, but also offers a opportunity to learn to work with peers from very different cultures."
BEP kicks off its 20-day program with a one-day Learning Journey, removing participants from the every-day world of their careers and exposing them to the latest in research and powerful ideas and businesses emanating from the UC Berkeley campus.
BEP participants in spring 2002 toured the Advanced Light Source lab at the Lawrence Berkeley Lab and the Cybercut research lab at the Department of Mechanical Engineering, which focuses on getting leading-edge products to market faster. They visited UC Berkeley spin-off Nanomix, a nanotechnology company, and the Siemens Technology incubator. Lectures by Dr. Edward Penhoet, co-founder of Chiron and former dean of the School of Public Health, and Professor Donald Glaser, Nobel Laureate in Physics, offered interaction with some of UC Berkeley's most innovative thinkers.
BEP is offered twice a year, in three-day modules over a six-month period between January and June, and as a one-month block in September/October. For more information about BEP, please visit http://execdev.haas.berkeley.edu/.
The Haas School's International Business Development (IBD) course received worldwide recognition when "The World," a co-production of the BBC World Service and Public Radio International, picked up a story about the course's students traveling to Kuppam, India, to implement computer technology in the farming town for client Hewlett-Packard.
The seven-minute clip aired in late June on National Public Radio's California Report and on July 4th on PRI World. The clip was nationally syndicated on more than 140 public radio stations in the United States.
The IBD course is the MBA student-consulting course, now in its eleventh year. Haas MBA students, in small teams, work with clients on projects in overseas locations. Throughout the semester, the teams prepare for their in-country assignments and after the semester concludes, the MBA consultants spend three weeks performing a comprehensive analysis on location. At the end of the three weeks, the MBA students produce a report of their findings and recommendations.
A group of seven students worked with Hewlett-Packard on one such assignment in May, and were responsible for implementing computer and networking technology in Kuppam, India, a small Indian farming town, to help advance farming profits. One of the Haas students on the project, Sunita Parafuraman, MBA 03, was skeptical at first, citing the Indian farmers' needs for basic survival tools such as food, shelter, and water before expecting their success with computer technology. After her three weeks, however, she had a change of heart, and realized that the computer technology could help farmers secure more essential needs.
The radio clip (MP3 file) can be heard on the IBD website: http://www.haas.berkeley.edu/HaasGlobal/events.htm.
Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was quoted in the Wall Street Journal on August 22 in an article titled, "Cut Your Electric Bill: Do Laundry at 3 a.m." Borenstein comments on utilities and regulators charging higher prices during peak energy demand periods in an attempt to straighten out the electricity markets.
Borenstein was also quoted in an August 21 article in Reuters News titled, "Calif, power sellers negotiate as election looms," on how the electricity crisis in California is affecting local politics. Read the full article here: http://www.reuters.com/news_article.jhtml?type=search&StoryID=1356820
An interview with Brett Trueman, the Donald and Ruth Seiler Professor of Public Accounting, aired on CNBC: Business Center on August 20, about the SEC decision that telecommunications companies can no longer book IRU capacity swaps as revenue.
The Wall Street Journal featured an opinion piece written by David Vogel, the George Quist Professor of Business Ethics, on August 20 titled, "Manager's Journal: Recycling Corporate Responsibility." Vogel comments that "corporate responsibility" needs to include structured incentives to make it a part of a firm's self-interest to act ethically in all situations.
Jerome Engel, executive director of the Lester Center for Entrepreneurship & Innovation, and John Freeman, the center's research director and Helzel Professor of Entrepreneurship and Innovation, were quoted in a San Francisco Chronicle article on August 25. The article, "Going It on Their Own - Dot-Com Dropouts Try their Hand at Small Business," profiled several laid off workers and founders of tech startups who are exploring new careers in owning small non-technology businesses. http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2002/08/25/BU107143.DTL.
An Associated Press article published August 25 on teaching ethics in business schools quoted both David Vogel, George Quist Professor of Business Ethics, and Hans Grande, MBA 2002 and former MBA Association president. The article was picked up by newspapers around the country, including:
The Deseret News,
Duluth News Tribune,
The Seattle Times,
The Kansas City Star, and
The Bradenton Herald.
Kim Fisher, MBA 94, managing director of the Women's Technology Cluster, a San Francisco incubator, was quoted in an article, titled "On College Campuses it's a Woman's World," in the San Francisco Chronicle today (Aug. 26). The article explored the increase of woman in college enrollment and completion of graduate degrees and the effect their educational advancement may have on their options in career and marriage. http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2002/08/26/BA176264.DTL.
The Wall Street Journal quoted Raymond Miles, organizational behavior professor emeritus and former dean of the Haas School, today (Aug. 26) in "The Outlook" column, titled "Stock Options Didn't Work; What Will?" The column debated whether or how stock options as executive compensation could be an effective tool to improve company performance.
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