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The Newsletter of the School of Business of St. Bonaventure University
Winter 2013
The globalization of business education
conomic and financial uncertainty continues to
affect Europe and the United States. Global en-
gines of growth slow as China, India, Brazil and
other emerging economies now struggle to sustain their
dramatic expansion of recent years. In turn, the slow-
down in the major economies of Asia and Latin America
could undercut timid recovery efforts in the United States,
which has been banking on exports to countries such as
China to boost anemic job prospects at home. Further-
more, concerns mount over the latest spark that could en-
gulf the Middle East powder keg into a global nightmare
This is certainly not a trivial scenario. Nevertheless, in
order to enhance our students' competitive advantage in
the marketplace and provide practical knowledge about
the world they must lead in, shouldn't our students excel
at such global perspectives?
Globalization is both the biggest opportunity and the
greatest challenge for business schools worldwide as they
struggle to keep up with the demand for graduates who
increasingly must be able to work across countries and
cultures. A recent report from our accreditation body,
AACSB International, reveals that "a frustratingly wide
curriculum gap remains alongside large risks of misdi-
@SBUBullishOnBiz, #Kearns
rected and incoherent strategies" in spite of
more than two decades of efforts in busi-
ness schools to develop global curricula.
Given my status as an international scholar
and my lifelong work to motivate business
students to gain a global mindset, I
thought it appropriate to present elements
of our globalization efforts as the theme of
my first newsletter communication as dean
of the School of Business at St. Bonaven-
Globalizing a business school is typically difficult, largely because
the number of new and prospective faculty members with signifi-
cant global experience and insight is small, travel is increasingly ex-
pensive and school budgets are perennially tight.
However, in keeping with our commitment to quality, our busi-
ness school has an enviable foundation to build upon. Consider
that, at present, more than four out of every five full-time faculty
members have had a significant business education experience over-
seas to gain firsthand business, economic and cultural informa-
tion and knowledge. For 2013, beyond "routine" travel, we have
faculty development trips scheduled to Turkey, Russia and Italy.
Also consider that, since 1997, our faculty has offered an inten-
sive course in China annually, introducing its culture, history and
prospects for the future, all with a business focus. In parallel,
what had been conceived more than a decade ago as a low-cost
mission-based service learning endeavor in the Bahamas has be-
come a full-fledged annual international business consulting trip
with more than 50 participants -- a sophisticated experiential
class that requires a high level of coordination and preparation by
the students, faculty and Board of Trustee mentors alike. Many
others will spend a semester abroad or intern at foreign organiza-
While placing emphasis on studying abroad is important, devel-
oping and integrating global content within the curriculum at home
may be more beneficial. As such, the school was an early pedagogi-
cal adopter of international financial reporting standards, re-
ceiving much praise from the big accounting firms.
Further, in an effort to achieve a better understanding
of global technology issues, we have recently agreed
to a faculty exchange and other collaborations with
the College of Engineering in Pune, India, and expect
to host our first visitor later this year.
Pierre A. Balthazard, Ph.D.
Dean, School of Business
{Watch details on live streaming}
Thursday, March 21, 2013
4-6 p.m. Reilly Center Arena
Richard Kearns, '72,
Senior Advisor, Zurich Insurance Group
Eugene McQuade, '71,
CEO, Citibank N.A.
Samuel MolinaroJr., '80,
Head of the Noncore and
Legacy Portfolio at UBS Investment Bank
Colette Dow, '88,
former COO, PrinceRidge Holdings L.P.
Our panelists will take a deep look into the
post-inauguration global finance crystal ball and
try to make sense of the complex world we live in