InsIde - College of Business - Minnesota State University, Mankato

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In Review
2013 – 2014
Inside
See how College of Business students are
encouraged, supported and engaged.
Dean’s
Message
I
recently received a letter from a former student living in Denver, Colo. Beautifully
crafted, single-spaced, two-page, and typed on personal letterhead, the
correspondence was full of details about his learning journey—from Minnesota State
University, Mankato to Alaska to Morocco. The alumnus’ letter was a gift beyond
measure. It was affirming as well as a call to action.
This edition of the College of Business In Review magazine, is a celebration of our
current and past students. Alumni like Craig Lloyd ’72, Suresh Mathews ’75, Linda
Korselman ’83, Heather Ludwig ’87, ’98, and DQ Spencer ’09 demonstrate how their
experiences, relationships and impact endure today at the University and beyond.
Despite reports of the current generations’ skills gap, examples abound at the
University of stunning student talent, work ethic and vision. This is a generation eager
to engage in real-world experiences that develop, test, and refine their leadership,
technical, and entrepreneurial abilities. The article “Student Focused; Student
Centered; Student Led” is a tribute to our student organizations and the difference
they are making in the lives of students as well as in the College of Business. We have
stepped up our partnership actions and outreach activities this year to bring even
more internship, project, and career opportunities to students. The response from
partners like Taylor Corporation, Cambria, Eide Bailly, Unisys, Lloyd Companies,
and Rembrandt Foods has been phenomenal.
For our alumni and partners, as well as for the College of Business, students are
the Minnesota State Mankato magnetism. Join us in our quest to be the clear
choice for those who want to engage in learning that launches careers and solves
real-world problems.
Dr. Brenda L. Flannery
Dean, College of Business
Minnesota State University, Mankato
2 // minnesota state university, mankato // college of business
contents
6
Student Focused; Student
Centered; Student Led
Student organizations have an active
history within the College of Business
and provide unique opportunities for
leadership and networking.
2
4
Dean’s Message
COB Student Numbers of Note
6
Student Focused; Student
Centered; Student Led
Reinvigorated Mentoring
An Executive in Residence:
Rembrandt Foods: Global
Eide Bailly’s Culture
Interns Get Innovative
New Minor offers
Innovative Use of Technology
Extends Masters of Accounting
Program
10 Program Adds Face Time
12 Suresh Mathews Returns
15 Leader Partners with COB
16 Alumnus Profile: DQ Spencer
18 Creating a Legacy
12
20 of Service
21 with Taylor Companies
18
An Executive in Residence:
Suresh Mathews Returns
Suresh Mathews, 1975 alumnus and
CIO of Unisys, served as the COB’s first
Executive in Residence.
CEO of Lloyd Companies and 1972
alumnus, Craig Lloyd gives gift to
establish a Minnesota State Mankato
student entrepreneur competition.
Printer
Minnesota State University, Mankato Printing Services
Editor/Writer
Carol Jones
Print Coordinator
Doug Fenske
...............................................................................................
Graphic Designer
Terri Poburka
photographers
Greta Fennell
Elizabeth Johnson
SPX Sports
23
Creating a Legacy
Dean, College of Business
Brenda Flannery
Contributing Writers
Greta Fennell
Elizabeth Johnson
22 Major Benefits
The mission of In Review is to inform and to connect the
reader to the College of Business community. In Review
welcomes story ideas supporting this mission.
In Review is copyrighted in its entirety. This volume and
all articles, images and photographs within may not be
reproduced in any form without written permission from
the editor.
College of Business
120 Morris Hall, Mankato, MN 56001
507.389.5420 | cob.mnsu.edu
A member of the Minnesota State Colleges and Universities
System and an Affirmative Action/Equal Opportunity University.
This document is available in alternative format to individuals with
disabilities by calling the College of Business at 507-389-5420 (V),
800-627-3529 or 711 (MRS/TTY). BUSC131NE_8/14
2013-2014 in review // 3
College of Business
student Numbers of note
international students: 158 from 43 countries
The programs and faculty at Minnesota State Mankato’s College of Business attract students
from across the country and around the world.
102
4
No. America
ASIA
22
Europe
8
So. AMERica
4 // minnesota state university, mankato // college of business
22
AFRICA
students in the COB:
1897
Enrolled in the following departments:
369 Accounting
305 Finance
440 Management
379 Marketing/IBUS
404 PRE College of Business
Mavfund growth
The Maverick Student Investment
Fund (MavFund) gives students
experience in the field of finance.
Through a finance elective course, student investment management teams
practice stock valuation and investing
skills. What began with University
Foundation funding of $250,000 in
2012 has grown more than 60 percent
in two years.
Alumna
Brittany
Kruse Receives
Prestigious
2013 Elijah
Watt Sells
Award
The American
Institute of
Certified Public
Accountants
(AICPA) recently
named Minnesota
State University,
Mankato alumna
Brittany Kruse, a
2012 graduate of the College
June 2012
June 2014
$250,000
$402,472
60.99% Growth in 2 years
of Business,
one of 55
nationwide
winners of the 2013 Elijah Watt
Sells Award. The prestigious Elijah
Watt Sells award was created in 1923 by
the AICPA in honor of one of the first
CPAs in the United States. The award
recognizes outstanding performance on
the Uniform CPA Examination.
Award recipients must have a
average
score of 95.5 across all
minimum cumulative
The IBE gives students a semester-long experience in running a
business including development, financing and product delivery.
All profits, along with hundreds of hours of volunteer work, are
donated to a local charity.
attempt.
More than 94,154 candidates sat for
the CPA exam in 2013, and Kruse’s
achievement placed her in the
top .0006 percent
$8000
Total Gross Sales
$7000
$24,999
$6000
Total Loan
Amounts
$5000
$11,078
$4000
$3000
Total Donations
to Charities
$2000
$1000
four sections of the exam on their first
of those candidates. Among Kruse’s
fellow award winners, 65 percent
already had a master of accounting
degree or the equivalent. Kruse was one
of two award winners to complete
their accounting degrees in Minnesota.
The other is a University of Minnesota
graduate.
$11,812
Spring 12
Fall 12
Spring 13
Fall 13
Spring 14
2013-2014 in review // 5
Student Focused;
Student Centered; Student Led
College of Business Dean Brenda Flannery exudes
pride and excitement when talking about the
College’s student organizations. “Our student
organizations are really having an impact on the
learning of other students,” she says. “They are
making great things happen.”
The College has a strong history of students making
things happen for students. For example, Delta Sigma Pi, a
co-ed business fraternity, has been active on campus since
the 1960s. Other groups, including the Council Of Student
Business Organizations, which is made up of presidents of
COB student organizations and COB Minnesota State Student
Senators, have been active since the 1980s.
“The 2011 redesign of the Crossroads area on the second
floor of Morris Hall was made a reality through the hard work
of COSBO,” says Flannery. The area’s design was dated and offered limited functionality. COSBO applied for and received a
University Big Ideas Grant—the only student group to receive
a grant that year.
Recognizing that students have different needs at different
times, COSBO created a dynamic space that offers options for
students to use the area in different ways—from an individual
standing to send a quick email to a small group working
together to students lounging between classes. Now it is a
popular space that can accommodate more than 30 people
and is in close proximity to professors and classrooms.
STUDENT
organizations
6 // minnesota state university, mankato // college of business
While acknowledging that all COB services are studentfocused, Flannery explains that student organizations offer
unique opportunities for students to develop leadership
skills. Faculty members serve as organization advisors. “I
am so proud of and grateful to the faculty advisors. They
are involved mentors and supporters, often helping to connect students with guest speakers, campus resources, and
industry experts,” she says. COB staff also provide support
to help students’ visions become a reality, but students act as
leaders and initiators.
“Within the student organizations, there is a vision to connect with people and seek opportunities,” says Flannery. “As a
result, students are helping students learn and launch careers.
The student leadership has been especially impressive.
“Last year, Evan Karambelas, the new president of the
Finance Club, walked into my office and said, ‘I want this
to be an important year,’” says Flannery. “He asked for support in raising participation, securing quality speakers and
helping finance a trip to Chicago.” Staff, faculty and students
worked together to make those things happen.
Nick Linde, development director for the College,
worked with Mike Mitchell, the former CFO of Ridley, Inc.,
to secure funding that would help offset student costs for
the Finance Club trip to Chicago.
Mitchell serves on the College of Business Advisory
Council and is a 1971 COB alumnus. Although he donates to
the University annually, he was looking for a little different opportunity. “I wanted something that would give students some
hands-on experience,” says Mitchell. “A trip to Chicago allowed them to see the investment industry in action and relate
things they learned in the classroom to the real world.”
The Marketing Club traveled to St. Louis. Part of the trip
included hosting a riverboat dinner for St. Louis area alumni. Heavy rains cancelled the riverboat, but club president
Jessica Gumbert didn’t let that cancel the event. “Within
30 minutes of receiving the news about the riverboat,” says
Flannery, “Gumbert secured another location, made reservations for 40 and began contacting alumni. She was amazing.”
For Flannery, these are just a few of the many examples
of the good things students are making happen for other students. “We work to provide the right kind of encouragement
and the right kind of contacts and then let students take
over,” she says. “I love seeing them step up, act as leaders,
and make things happen for other students.”
Continued on page 8—
1
2013-2014 in review // 7
2
3
Student Focused; Student Centered; Student Led
1. Finance Club Visits Windy City
Twenty-three students traveled to Chicago. Sponsored in
part by Mike Mitchell, the trip gave students the opportunity to tour various influential finance firms, meet industry
professionals and gain insight about the field. But it wasn’t
all work and no play. Students took advantage of their time
in the city to tour the Willis Tower Skydeck, watch a Cubs
baseball game and visit local cultural sites and shopping
districts.
2. Marketing Club— Meet Me in St. Louis
The Marketing Club organizes a trip every year that gives
students an opportunity to network, visit companies and
explore cities where they might work or intern. In spring
2014, 26 students traveled to St. Louis, where they attended a Blues hockey game, experienced the creative City
Museum, toured the Anheuser-Busch Brewery, met with the
leadership of three public relations and marketing companies and hosted a dinner for Minnesota State Mankato
business alumni. In addition to the annual spring trip, the
Marketing Club hosts marketing professionals who share
information on the industry and job opportunities every
8 // minnesota state university, mankato // college of business
other week. “Several students have been offered internships
through these connections,” says Dr. Kristin Scott, club
faculty advisor.
3. SHRM Mediates Human Resources Panel
The Society for Human Resource Management (SHRM)
is the world’s largest professional organization devoted to
human resource management. Mavericks for SHRM is an
affiliated student chapter of the organization.
“Being a member of Mavericks for SHRM offers students significant benefits, such as taking on leadership roles
within the organization, learning about the field of human
resources directly from industry experts during weekly
meetings and expanding their professional network,” says
Dr. Paul Schumann, faculty advisor.
In spring 2014, Mavericks for SHRM organized and
mediated a community-wide human resources panel
presentation. Panel members examined a myriad of modern
management challenges and opportunities, from organizational culture to the importance of technical skills versus
soft skills and from learning to build professional relationships to recovering from professional mistakes.
5
4
6
4. Accounting Club— More Than Just Numbers
Accounting Club faculty advisor Dr. Byron Pike says, “The
accounting profession is diverse and allows graduates a multitude of careers. Club membership provides students with
opportunities to learn more about the profession as well as
network with firms and companies seeking interns and fulltime employees.” Weekly meetings include visits from elite
accounting firms and distinguished private companies. The
club also coordinates tutoring sessions and shares information about scholarships, internships and job openings.
5. IBO Tops World Trade Center Illinois
In March 2014, eight student members of the International
Business Organization traveled to Chicago to attend the
MBAA International Conference, tour companies and visit
the World Trade Center Illinois, where they met Director
Bill Lada. Faculty advisor Dr. Omer Genc says, “The IBO’s
purpose is to increase student awareness about international
business.”
However, the experiences and networking activities
also help students increase their confidence in professional
situations. “Collecting business cards and getting out in the
professional world is definitely much easier with a group
of your friends and professors at your side,” says Nekeya
Broadnax, IBO member.
6. Delta Sigma Pi Active on Campus for
More Than 50 Years
Delta Sigma Pi is a national co-ed business fraternity that
has been active on the Mankato campus since the early
1960s. Dr. Queen Booker serves as the Epsilon Iota chapter’s
faculty advisor. Students organize tours of companies such
as 3M, Taylor Corporation and Best Buy and participate in
community service activities such as the Red Cross blood
drive, Rake the Town and Adopt-a-Highway.
Members also regularly act as campus escorts for visiting COB dignitaries, gaining extended access to industry
game-changers and leaders. “Our members are eager to
learn about everything around us, help those in need,
develop professionally and create new possibilities,” says
Vadim Firfa, chapter president. n
2013-2014 in review // 9
Mark Braun (left) ’81, ’88, provost & dean at
Gustavus Adolphus College, Daniel Rasmussen
I
Reinvigorated
Mentoring Program
Adds Face Time
n 2013, Heather Ludwig ’87, ’98, revamped the
College of Business’s long-time Mentoring Program.
“When the Mentoring Program began more than 10
years ago, it was designed as an e-program, which was
a very progressive idea. All contact was conducted via
email,” says Ludwig. “However, we found that today’s
students want a combination of e-contact and face-to-face
individual mentoring.”
So the reinvigorated Mentoring Program went old
school and now provides opportunities for group and
individual interaction.
For the first time in its long history, the program
was expanded to include first-year students. “Now it is
10 // minnesota state university, mankato // college of business
designed to help students learn, develop and grow over
the course of their college career,” says Ludwig. “Rather
than focusing primarily on résumé writing and interview
skills, mentors cover much broader topics that range from
choice of major to student organization involvement to
workplace expectations and culture.”
Mentors include alumni, donors and community
professionals with positions that range from CEOs to
second-year professionals. “They have been fantastic,
meeting regularly with students and offering job
shadowing to one or more students,” says Ludwig. “It is
exciting to watch the students grow in ways that wouldn’t
be possible without the generosity of our mentors.” n
Here is what some of the participants
of the Mentoring Program had to
say about the experience:
“
Serving as a mentor provided me with a great
opportunity to stay in touch with the “workforce of
tomorrow.” It was thrilling to see the energy and
passion the program participants shared for their
future careers! I highly recommend participating in
the program!”
—Daryl Timmerman, Agstar
“
I had the opportunity to be matched with a mentor, who
helped me figure out that the path I was on wasn’t the
path I wanted. It also allowed me to find a professional
within my new career path. I highly recommend anyone
who has the opportunity be involved.”
—Jeremy Herkenhoff, COB student
“
I recommend the Mentoring Program to anyone
who is curious to learn more about business in general.
The program paired me well with a mentor who was
passionate about his career and helped me to gain a
better insight on my major. Both played a key role in
helping me with career building and developing
soft skills.”
—David Vang, COB student
“
My mentor allowed me to tour his company and
learn about all the projects he was in charge of and
developing. He answered my random questions and
got me in contact with an international marketer. That
connection gave me an idea of what working in the
international setting might be like. The Mentoring
Program is great and allows [students] to expand [their]
horizons to fields we may not have initially considered.”
—Bridget Enninga, COB student
Seth Ferkenstad (left) ’10, sr. accountant with Abdo,
Eick & Meyers LLP, Bai Vang
Aaron Scanlan (left) ’95, principal auditor with
Minneapolis Federal Reserve Bank, Stephanie Perry
Joan Schafer (left), multi-media specialist with
Southwest Newspapers, Christa Hurley
“
Being in a hiring position, it is great to have first-person
access to the knowledge coming out of the education
system. These students are bright. It is wonderful to see
their energy and help guide it with my past experiences.
Listening to a student dream out loud about their future
endeavors makes me pause and think about my own
career, where I am and where I am going. It helps me
think outside my comfort zone.”
—Caroline McGowan ’93, entrepreneur
and owner of Sweet Caroline’s, LLC
2013-2014 in review // 11
An Executive in Residence:
Suresh
Mathews
Returns
By Elizabeth Johnson
W
hen Suresh Mathews arrived in
Mankato in 1971 at the age of 17, one
thing was immediately clear: He needed
warmer clothing. As he stepped off the plane
from Brunei, a small equatorial country on the
northern coast of Borneo, he wasn’t prepared
for the harsh, cold climate of Minnesota—
even in August.
Today, Mathews serves as the global chief information officer and senior vice president of Unisys, a
worldwide information technology company and one
of the oldest computer companies in the world. While
he has residences in Texas and Arizona, his work takes
him around the world. He returns to Minnesota regularly for work, family, friends and Minnesota
State Mankato.
12 // minnesota state university, mankato // college of business
In the 1960s and 70s, students from Brunei commonly traveled abroad to pursue university degrees.
Most went to Australia, India or the United Kingdom.
Mathews was the first student from Brunei to study in
the United States. Very much on his own, Mathews
arrived in Mankato two weeks before the start of the
fall semester—two weeks before he could move into
the dorms. He stayed with Gerald and Barbara Graham and their family as part of the Friendship Family
Program, and Barbara took him shopping for warmer
clothes. Forty years later, the Mathews and the Grahams still consider each other family.
As a student, Mathews studied computer science,
which at the time was a College of Business program.
He quickly became well known around campus. He performed as a musician in the Student Union Underground
Suresh Mathews, global chief information officer and senior vice president for Unisys,
served as the featured speaker of the Morgan Thomas Executive Lecture and the
College of Business’s first Executive in Residence. The two days he spent on campus
provided opportunities for students and faculty to engage with Mathews in smaller
settings, resulting in a bigger impact.
Several members of the Mathews and Graham families
attended the Distinguished Alumni Awards reception honoring
Suresh Mathews in April 2014.
coffee house, attended a protest and accidently wound up
leading it, and met his wife, Kathy, at a fraternity party.
When he graduated in 1975, Mathews wanted to
work for Unisys—but Unisys wasn’t interested in him.
Instead, he took an internship with another company and
created his own opportunities. Over the years, Mathews
continued to make things happen for himself as well as
the companies for which he worked.
In recent years, he has become known for his ability
to turn companies around. Companies now seek out
Mathews. One employer called him with a job offer, saying, “I know you’re crazy, you like risk-taking, and you
like to fix things that are broken.” It was true. He took
the job and fixed the company. Mathews has worked
with several companies including PepsiCo and Sprint
and now Unisys.
President Richard Davenport (right) congratulates
Suresh Mathews at the University’s Distinguished
Alumni Achievement Awards reception.
In April, Minnesota State Mankato honored
Mathews with a 2014 Distinguished Alumni Achievement Award. More than 30 of his family and friends
attended the awards ceremony, including all members of
the Graham family.
Mathews also spent two days at the University, sharing his time, knowledge and vast experience with the
campus community. What began as an invitation to
speak at the annual Morgan Thomas Executive Lecture,
expanded into the first College of Business Executive
Residency. The residency, with its extended time frame,
provided multiple opportunities for students and faculty
to engage with Mathews in smaller settings and resulted
in a bigger impact. Mathews has served on the College
Advisory Council for years, but this degree of student and
faculty interaction was unprecedented and invaluable.
Continued on page 14—
2013-2014 in review // 13
Unisys Offers
Exclusive
Internships
Suresh Mathews, chief information officer
for Unisys, feels strongly about encouraging
and supporting students. He also feels
strong appreciation for the opportunities
afforded to him as a computer science
student at Mankato State College in the
1970s. He and several members of the
Unisys executive team recently visited the
Mankato campus to launch an exclusive
internship program for Minnesota State
Mankato students.
Unisys is a global leader in technology
services. This partnership provides
unique opportunities and experiences for
Minnesota State Mankato students, both in
business and computer science.
Continued from page 13—
It allowed the College of Business to provide opportunities to its students and extended community. Mathews presented at a faculty seminar on
turnaround strategies, met with the co-ed business fraternity Delta Sigma
Pi to talk about the world of business, ate breakfast with international students, and toured Project Maverick with the College of Science, Engineering and Technology.
In addition, several executive team members from Unisys accompanied
Mathews and helped launch a new internship program set up exclusively for
Minnesota State Mankato students.
In just two days, Mathews engaged with more than 400 members of
the Minnesota State Mankato community and made connections and
partnerships that will have a meaningful impact on the lives of students
for years to come.
At 17, Mathews didn’t know how Minnesota State Mankato would shape
his future. Today, he can see the potential in current students, and he’s joined
the College of Business to help launch careers and change lives. n
Mathews and members of the executive
team (Paul Roberts, global vice president
for Unified Social Business, Texas; Steven
Birgfeld, vice president of information
technology, New Mexico; Christopher
Hawley, manager IAM & PKI, Minnesota;
Charles Hill, senior HR business partner,
Pennsylvania) conducted interviews on
campus in an effort to fill several internship
positions. They were specifically looking
for business students and students studying
information technology.
“During their internships with Unisys,
our students work alongside industry
experts, gain experience, practice what
they’ve learned in class, and develop
additional skills,” says Luke Howk,
internship and external partnership
coordinator for the College. “Experiences
like these, made possible by partners like
Unisys, help differentiate our students
from their competition in the employment
market.”
As a computer science student at Mankato State
College in the 1970s, Suresh Mathews worked on
Univac computer systems. Univac later became
Unisys, a global leader in technology services.
14 // minnesota state university, mankato // college of business
AddRichard
Caption.
the
Schmitz Executive
Lecture
As the 2014 Richard Schmitz
Executive Lecturer, Dave Rettig
shared a high-energy lecture
that charted Rembrandt Foods
incredible growth, global
opportunities and cutting-edge
innovations as well as experiences
from his own career path. As
founder and CEO of Rembrandt
Foods, Rettig cited the importance
of passion, grit and curiosity for
entrepreneurs as well as students.
Minnesota State
Mankato alumnus
Richard Schmitz
earned his
bachelor’s degree
in accounting in
1964. He worked
in food retail for
nearly 40 years,
owning numerous
stores. In 2000, Schmitz and his wife,
Mary, created an endowed lecture series
to encourage food entrepreneurship
education in the College of Business.
In 2002, Schmitz received the Harold J.
Fitterer Distinguished Alumni Service
Award. He served as President of the
University’s Foundation Board from
2005-2007.
Global Leader Partners with COB
As featured speaker at the 2014
installment of the Richard Schmitz
Executive Lecture, Dave Rettig,
founder and president of Rembrandt
Foods, shared a high-energy lecture that
charted the company’s incredible growth,
global opportunities and cutting-edge innovations.
Rettig also shared experiences from his own career path, citing
the importance of passion, grit and curiosity for entrepreneurs
as well as students.
Eight members of Rembrandt’s executive leadership team
joined Retting at his appearance at Minnesota State Mankato.
The College of Business was excited to have the Rembrandt team
on campus for the day. The team’s visit allowed them to arrange
several individual and small group conversations about critical
skill development and Rembrandt’s global initiatives, research and
development projects.
Founded in 2000, Rembrandt Foods is one of Glen Taylor’s
many business holdings. Rembrandt has become one of the
largest producers and processors of egg products in the world.
Its core egg business develops functional and nutritional eggbased products.
As Rembrandt continues to explore global opportunities
and expansion in the food industry, its need for people with
diverse areas of expertise and interest
increases. Recently, Minnesota State
Mankato’s College of Business and
Rembrandt Foods developed a unique
internship program that recruits students
from across the University, not only those
majoring in business.
“We are looking for high-energy, driven people in all areas to
join our team,” Rettig says.
Jessica Gumbert, a marketing major, feels fortunate to have
recently completed an internship with Rembrandt Foods. “I made
connections during an amazing day spent with Rembrandt Foods’
executives on campus,” she says. “That led to a great internship
opportunity focused on international market research.”
“The partnership between the College of Business and
Rembrandt Foods expertly illustrates how a strong universityindustry partnership can be mutually beneficial,” says Luke Howk,
internship and external partnerships coordinator for the College.
“Minnesota State Mankato students gain practical experience
working alongside the innovative minds at Rembrandt; in-turn,
Rembrandt strengthens its employment brand while building
relationships with quality future talent prospects.” n
2013-2014 in review // 15
Alumnus Profile
DQ Spencer
DQ Spencer (left), partnership and development
coordinator of operations for Cambria, and
Luke Howk, internship and external partnership
coordinator for the College of Business, work closely
to educate Minnesota State Mankato students about
opportunities at Cambria and build a strong pool
of qualified professionals for the growing company.
16 // minnesota state university, mankato // college of business
COB adds
new position
DQ Spencer—the student, track star
and football player—took advantage of
as many opportunities as possible while
at Minnesota State Mankato. Now, DQ
Spencer—the professional—helps create
opportunities for other students as the
partnership and development coordinator
for operations at Cambria.
Spencer’s position at Cambria is one
that he helped create, which is one of
the benefits of working for a company
that encourages people to think like
entrepreneurs. In fact, it is his third
promotion since joining the company
after graduating in 2009.
Spencer’s primary focus at Cambria
is to establish partnerships related to
recruiting, training and development.
“My goal is to increase exposure,”
he says. “Of course, recruiting is
a big emphasis but I also strive to
educate students about the kinds of
opportunities available at Cambria.
“The manufacturing industry is
rapidly evolving,” he adds. “It is no longer
just factory work. We offer opportunities
for engineers, leadership, management,
sales and marketing and more. In fact, we
doubled our operations capacity in 2013,
and we are looking toward similar future
growth. Our partnership with Minnesota
State Mankato will help us establish a
larger pool of qualified applicants.”
Spencer works closely with Luke
Howk, the internship and external
partnership coordinator at the College
of Business. “By collaborating with
Luke, the partnership has taken off a
lot faster than I could have imagined,”
Spencer says. “Luke has been great
about introducing Cambria to students,
alumni and other partners. And I have
been promoting the University, its great
students and its great facilities.”
While pursuing a management major
with an emphasis in human resources,
Spencer learned a lot about the important
skills necessary to develop relationships.
“Dr. Howard Miller did a great job
teaching the practical side of meeting
and talking with people,” says Spencer.
“In my opinion, the world is based on
relationships and connecting with people.
The more we can connect and relate to
individuals, the more we can all achieve.
“Minnesota State Mankato offers
a diverse environment, which allowed
me to related to people from different
backgrounds and different cultures who
had different personalities and different
behaviors,” continues Spencer. “I use
and apply all of that experience in my
career now.
“I feel very connected to Minnesota
State Mankato. Beside the fact that it is my
alma mater, it has one of the best business
programs I have seen. And,” he adds, “I
visit a lot of universities.” n
The College of Business recently added
the position of internship and external
partnership coordinator. The goal is
to connect students and employers for
internships and entry-level employment
opportunities.
“Hundreds of employers pursue
College of Business students each
year for internship and/or entry-level
employment opportunities,” says Luke
Howk, COB’s first internship and
external partnership coordinator.
“My focus is the College of Business.”
Howk spends half his time
coaching students on the importance
of internships, recommending relevant
internship opportunities and providing
résumé, job search, and interview tips.
He dedicates his remaining time to
employers, coaching on best internship
practices, helping optimize their
employment brand on campus, making
effective connections with student
and faculty groups to help employers
meet recruitment goals, and exploring
partnership opportunities.
“Partnerships with companies
like Cambria allow us to connect
students with a wide variety of fulfilling
learning experiences and entry-level
employment opportunities,” says Howk.
“We also assist industry partners in
connecting with the quality talent
needed to meet their goals.”
For more information about business
partnerships, contact Luke Howk at
507-389-1827.
Cambria prides itself on being the only family-owned, American made producer of natural quartz surfaces. A rare
combination in today’s increasingly globalized marketplace, it results in quality that can be felt from start to finish.
The legacy of Cambria and the Davis family began in the butter business when Stan Davis took an apprenticeship in
1936. Stan’s son Mark Davis, 1963 business alumnus, now serves as chairman of Cambria and Stan’s grandson Marty Davis
serves as company president and CEO. From the beginning, the Davis family has taken calculated risks,
investing in technology and people.
With a passion for creating a winning environment, the company expanded from a single
creamery to an international dairy operation and diversified into quartz surfaces, financial services,
and the airline industry.
The company constantly examines their business to ensure they are delivering high
quality of products and service to their customers. Growth and change through calculated
risk is nothing new at Cambria; the entrepreneurial instinct is a Davis family legacy.
2013-2014 in review // 17
Creating a
Legacy
18 // minnesota state university, mankato // college of business
Members of the Lloyd family (pictured
left to right: Pat, Craig, Christie Ernst)
presented a gift to the College of
Business that will help create a student
entrepreneurial contest in which students
compete for start-up capital awards.
Building a family business over the past 40 years
hasn’t always been easy, but Craig Lloyd ’72 says
he still wakes up excited everyday.
“
I love what I do. I love to get up everyday. It is fun being
able to take ideas and create new value,” he says. “It is a
long-term dream and we have been fortunate to see it happen.”
Lloyd is accustomed to making things happen, especially
things that others didn’t think he would accomplish.
Approaching things differently
“I was not a good student,” Lloyd says. “My high school counselor told me I would never graduate from high school or college
and if I did, I would never amount to [anything]. At the time, I
was really mad at him and I was determined to show him.”
Lloyd happens to be dyslexic and adds, “If I were tested, I am
sure I would be diagnosed with ADD. Because of that, I had to
learn to approach things in different ways. I learned to really listen.
“I also had great teachers at Mankato State,” Lloyd adds. He
especially appreciated the practical experience they brought into
the classroom. “They helped us understand business theory by
showing us how they applied business concepts in their practice.
They asked us things like, ‘Why is a balance sheet important?
What numbers do you pull out?’”
Lloyd attended college classes in the mornings, worked for
his uncle Robert at Lloyd Lumber in the afternoons and helped
with apartment management on weekends. After graduating
from Mankato State College in 1972, his uncle asked Craig and
his wife, Pat, to move to Sioux Falls, S. Dak., and manage a new
apartment community.
Having more than one path
By that point, Craig and Pat Lloyd were well on their way toward
building a successful business. Then, in the late 70s and early
80s, interest rates hit 22 percent. Things got tight, and the Lloyds’
entrepreneurial spirit and creativity were challenged.
“We did anything to generate a dollar. We made pallets. We
made waterbed frames. We remodeled. I had it figured so that
if we replaced a screen door, I could pay our secretary for two
hours,” says Lloyd. “We survived. We paid the bank. We got
through and we built a different kind of company. Now we offer
property management, construction, real estate and property
development.”
Lloyd Companies today is, indeed, a different company. In
2014, it has investments in 90 properties located in 10 cities and
manages more than 3,200 apartment units along with 1.3 million
square feet of commercial space.
Christie Ernst, Craig and Pat’s daughter who serves as Lloyd
Companies’ family business transition coordinator, says, “It goes
back to having more than one path—not getting stuck doing it one
way. My father can usually see his way out of hardship. It does not
cripple him. I am still learning from him.”
Lloyd says the company’s business plan is in a constant state of
review. Are they building the right things? Are they involved in the
right projects?
“Diversification helped, but our business thrives because of the
relationships we have built over the years,” says Pat. “And it takes
time to cultivate relationships.”
Building relationships and community
When Lloyds moved to Sioux Falls in 1972, they didn’t know
anyone. Craig joined every club he could. At times, Pat became
frustrated with the amount of time he was away. “Now,” says
Lloyd, “there are very few places I go and don’t know someone.
My advice to young business people is to join organizations, get
involved, give back to the community. Those things will pay you
back 10 times over.”
In fact, Lloyd Companies, based in Sioux Falls, S. Dak., are so
supportive of community involvement that all senior staff members are required to be involved and are given time during their
workday for community service. “Our name is associated in the
community with giving back. As we become involved, we get to
meet with the people who make decisions,” says Lloyd. “It is a very
important factor in our business.”
Watching her parents build a legacy in the community has
been eye opening for Ernst. Although she has immense respect for
her father’s business acumen, Ernst says his investment wisdom is
not always apparent to her.
“Some of the things my dad invested in looked like real losers,” she laughs. “For example, I advised him not to purchase an
apartment. I told him it wouldn’t be good for our reputation. But
he bought it, invested in it, made it a better place and secured
residents who care. Crime is down significantly in the area and his
investment improved the community as a whole.
“As business owners and entrepreneurs, you have to decide if
you are going to develop a business and sell it or if you are in it for
the long haul,” continues Ernst. “It changes the way you make decisions. For Lloyd Companies, sometimes dollars and cents don’t
make any sense at all, but it is right for the community and right
for the values of our company.”
In addition to investing in communities, Lloyd Companies has
committed to investing in the entrepreneurial spirit of Minnesota
State Mankato students. Their 2014 gift will help create a student
entrepreneurial contest. Coached by alumni entrepreneurs, contestants will develop a business plan and feasibility study, as well as
learn about venture capital and comprehensive marketing strategies. Students will pitch ideas to alumni entrepreneurs in hopes of
being awarded start-up capital to turn their idea into a business
and perhaps create their own legacy. n
2013-2014 in review // 19
Eide Bailly, a Culture of Service
I
n 2014, Eide Bailly pledged $40,000 to the College of Business in support of the
accounting program. Linda Korselman is a partner at Eide Bailly and a 1983
alumna of Minnesota State Mankato’s accounting program. She served for years
as the national director of Eide Bailly’s Financial Institutions Services Group. Last
year, Korselman was named managing director of the Mankato office and elected
as chairman of the Board of Directors. “We understand the importance of our
relationship with the University,” says Korselman, “and we are thrilled to give back
to the College of Business at Minnesota State Mankato.”
Recently, Korselman and colleagues Chuck
Christiansen and Jennifer Faust sat down with
Nicholas Linde, COB director of development,
to talk about Eide Bailly’s investment in Minnesota State Mankato.
Nicholas Linde: Eide Bailly is the 25th
Linda Korselman ’83,
partner and managing
director of Eide Bailly’s
Mankato office
Chuck Christiansen ’79
partner at Eide Bailly
largest accounting firm in the country, serves
more than 44,000 clients, employs 1,400
professionals and has offices in 24 locations,
including Mankato. What inspired Eide Bailly
to invest in Minnesota State Mankato?
Linda Korselman: Many of us are Minnesota State Mankato grads. There is an allegiance
with the University and it makes good business
sense. The graduates are excellent and the
school is a great source of recruitment. When
Dean Brenda Flannery invited us to participate
in a working relationship with the University,
the offer really appealed to our partners and
our people.
NL: Your investment is more than providing
scholarships.
LK: It is. Within our firm, there is a culture to
give back. We approached our partners, our
staff and administration. There are contributions from every level. It is not simply a corporate gift. Our investment is from the people
who believe in the University and the students
educated here.
Jennifer Faust, marketing
coordinator at Eide Bailly
Chuck Christianson: We are grateful for the
opportunity to provide input such as, ‘What
should we be teaching our students? What do
you want graduates to know?’ We appreciate
sharing ideas back and forth.
20 // minnesota state university, mankato // college of business
Jennifer Faust: In addition to providing
scholarships, our staff regularly visits student
organizations, provides mentorship programs
on the importance of the CPA exam and looks
for ways to share values of being a serviceoriented industry. We also invite students to get
to know us through our Meet Eide Bailly Day,
which is hosted during our busy season. It allows students an opportunity to see what life is
like for an accountant during that time of year.
NL: So community service is part of the
company culture?
CC: Absolutely. But we don’t tell our people
what to do; instead we encourage them to find
something they are passionate about and get
involved.
LK: We are a service profession. Initially, I
went to college to get a degree in social work.
My work now is not a lot different from what I
think that would have been. It is serving others,
and that is what gets us excited about our work.
At Eide Bailly, there is an expectation that people will give back to the community because we
understand if it weren’t for the community, we
wouldn’t be the firm we are today. n
INTERNS GET INNOVATIVE WITH
TAYLOR COMPANIES
By Greta Fennell
O
ne year ago the idea was a dream,
a concept, a vision. In less than a
year, Taylor Corporation has taken a big
idea and created cutting-edge, real-world
learning experiences for interns. The
Taylor Innovation Center provides the
kind of internship opportunity one might
think could only be found in the Silicon
Valley or in some big city… and it’s right
here in Mankato.
Identifying Needs
Taylor Corporation subsidiaries need market
and product development services, such as
market research and prototypes. Minnesota State
Mankato College of Business students need a
variety of internship opportunities where they
can apply classroom lessons in the field.
“One of the first things we spotted was
an opportunity to help Taylor Corporation
companies to create new products in new
markets,” said Dr. Glenn Bottomly, chief
technology officer for Taylor Corporation. “The
Innovation Center provides an alternative set of
resources to help companies grow.”
Taylor companies gain access to a team
of innovation architects that can
complete competitive market
evaluations and create product
development initiatives. The
team presents their findings,
which allows companies to
make informed decisions about
pursuing an opportunity or not.
“[Taylor Corporation] is getting
high-octane work from these
students on real-world projects,”
explains Bottomly.
Real World Experience
Student interns, employed as innovation architects, are involved in the full gamut of project development and gain a rich, dynamic educational
experience. “The experience in the Innovation
Center is different from a typical internship,” says
Hassan Fall, Minnesota State Mankato finance
intern. “We get to work on a wide variety of
projects, including different phases of launching
new or redesigned products.”
The Taylor Innovation Center launched on
August 26, 2013, and has employed 12 interns.
Megan Chilman, Innovation Center coordinator,
began as an intern at the inception of the Center
and was the first to be offered a full-time position
within Taylor.
Chilman explains the one-of-a-kind experience Minnesota State Mankato students gain
from working at the Center, “This internship
allows individuals to both excel by working on
projects in their field of study, while also learning
key skills that may not be taught in class. By collaborating on projects and interacting with other
interns and professionals with different fields of
study, it also helps them become well-rounded
and better prepared for post-graduation.”
The Taylor Innovation Center has completed
13 projects to date and has onboarded more than
45 projects from Taylor Corporation and its subsidiaries. There is room for growth: ten additional computers will allow for up to 20 innovation
architects. Projects range from web development
to graphic design to financial projections, with
endless future possibilities. n
Dr. Glenn Bottomly, chief
technology officer for Taylor
Corporation, checks in with
student interns working as
innovation architects.
Whiteboards cover the walls of
the Taylor Innovation Center.
Minnesota State Mankato
students use the whiteboards
during project-development
brainstorming sessions for Taylor
Corporation subsidiaries.
2013-2014 in review // 21
New Minor
in entrepreneurship
& innovation offers
Major Benefits
Dr. Kathy Dale (left) and April Femrite attended a symposium for
entrepreneurship educators at Babson College in Mass. As the first
entrepreneurship and innovation fellow for the College of Business,
Femrite works with Dale to engage students in entrepreneurial activities,
connecting in-class learning to practical experience.
S
ome of Minnesota State
Mankato’s most successful alumni are entrepreneurs.
The practical strategies they
learned as students helped
prepare them as business
people. However, the strategies and skills needed for
entrepreneurial endeavors
require real-world thinking
and doing. Fortunately, the College
of Business now offers a minor in
entrepreneurship and innovation,
which will accept its first students in
fall 2014.
“The world and technology are
changing rapidly. Business leaders
from all sizes of corporations are
increasingly telling us that they
need employees who can think like
entrepreneurs,” says Dr. Kathy Dale,
faculty chair of the United Prairie
Bank Integrated Business Experience
(IBE). “We wanted to offer something
a bit more entrepreneurial. We do a
really good job of teaching students
to make decisions in predictable
situations. But we want them to
experience making decisions when
the path isn’t so clear and the future
is unknown.”
The 18-credit minor includes
the award-winning United
Prairie Bank IBE program, where
students develop, launch and
close a business within a 15-week
semester. In addition, students
pursuing the entrepreneurship and
innovation minor take courses in
entrepreneurship, creativity and
innovation.
22 // minnesota state university, mankato // college of business
Dale recently returned from
Wellesley, Massachusetts where she
attended a weeklong symposium
for entrepreneurship educators
at Babson College. Babson offers
the number one entrepreneurship
program in the country. “The
symposium at Babson gave us new
strategies and techniques aimed at
teaching idea creation and creative
problem solving,” says Dale.
“The IBE and the
entrepreneurship and innovation
minor give students a lot of
autonomy,” adds Dale. “They gain
the opportunity to practice the
skills of idea creation and creative
problem solving—skills that are
difficult to acquire without the
experience of being faced with
a problem and having no easy
solution. We encourage students
to take initiative, make mistakes,
reflect on those mistakes, learn from
them and move forward.”
The new program is as much
for business majors as it is for
psychology, engineering and
computer information systems
majors. It is a program for all
Minnesota State Mankato students
who are entrepreneurial or who
want to implement more innovative
thinking and behavior in their
professional practice.
“I am so impressed with our
business faculty for designing a
minor that will reach across campus,”
says Mike Nolan, Small Business
Development Center director.
“At its core, entrepreneurship
is about seeing an opportunity and
turning it into reality, whether it
is building a new product line at a
Fortune 500 company or launching
the next great social media
company,” he says. “Employers are
looking for leaders who look beyond
today into the future.” n
Innovative Use of Technology
Extends Masters of Accounting Program
W
ith the exception of three large screens
in front, Dr. Steve Johnson’s graduate
accounting classroom seems unremarkable.
Tables are arranged in semi circles; Johnson
sits near the front and greets students as they
trickle into the Mankato classroom. There is a
comfortable banter among group members.
Soon, there is movement on the screens—and the
space suddenly transforms into something much more
remarkable. The classroom expands as Johnson and other
members of the class greet the four people who appear on
the screens. They are also students pursuing their masters
in accounting (MAcc). They just happen to be doing so via
TelePresence.
Using large screens, desktop microphones and
surround-sound speakers, the immersive TelePresence
technology creates an environment where two locations
are able to function as one collaborative space. “It is hard
to understand its effectiveness unless you see it in use,”
says Dr. Bill Brown, accounting department chair. “The
immersive experience removes distractions associated
with typical distance learning.”
Zhongwei Lu attends Minnesota State Mankato’s
MAcc classes at the Partnership Center at Normandale
Community College in Bloomington via TelePresence.
“Traveling a short distance to Bloomington was much
more convenient than traveling to Mankato. And,
amazingly, I didn’t feel like I was without a physical
instructor,” says Lu. “It is almost scary how real it feels.
The technology works very well.”
Adapting immersive TelePresence as a standard
operating procedure in the MAcc program was the vision
of Brown and others in the department; it works due to
the commitment of the accounting faculty. “We want as
many students as possible to have access to our MAcc
program as well as our faculty members—who are some
of the best in the region,” says Brown. “Our tuition rates
are competitive, and if a student wants to get to 150 credit
hours to qualify for the CPA exam, it’s an excellent value.
In addition, a graduate degree from an accredited program
improves career mobility.”
The MAcc program began in fall 2013. It was one
of the first programs on campus—and may be the first
masters in accounting programs in the country—to be
offered via TelePresence. With only three accredited
masters in accounting programs in Minnesota and
the demand for masters-level accounting graduates
increasing, courses offered using TelePresence offer great
growth potential.
Other Minnesota State Mankato programs offered
through at the Partnership Center at Normandale include
the MBA and the Twin Cities Engineering Program. n
2013-2014 in review // 23
{ one c ol or l o go
Looking to the future:
Please join the College of Business as we help students expand their
future. Whether through technology, coursework, partnerships, student
organizations or internships, our faculty, staff, alumni and external
partners team up to create opportunities for students that could not
be achieved alone.
Be a part of our future. Contact Nick Linde, director of development,
at [email protected] or 507-389-5420.
Ways to Connect:
Facebook: www.facebook.com/MSUMankatoCOB
LinkedIn: http://www.linkedin.com/groups/
Minnesota-State-University-Mankato-College-124122
cob.mnsu.edu