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1
Terry Dean’s Advisory Council
267 Miller Learning Center Athens
September 16, 2011
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Agenda 1. Welcome (Griffin) 2. College Report (Sumichrast) 3. MBA Student Report (Sutherland) 4. Campaign Cabinet Report (Amos) 5. Corporate Engagement Task Force (Stelling) 6. ElecQons (Sumichrast) 7. Closing/Schedule (DeVore)
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College Report
Robert T. Sumichrast
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Wide Range of Teaching
(2,620 undergraduates and 741 graduate students)
• 11 Undergrad Majors • MBA, EMBA, FTMBA • MAcc, MMR, MIT • Ph.D.
• International Programs • Music Business • Leadership • Executive Education
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Academic
• FoundaQons First • Freshman Admission • Courses: Capitalism, Mashups, etc. • Next Top Entrepreneur ($100k prize) • Leadership • Music Business
Student Services
• Alumni InteracQon • Career Services • Mentoring • GraduaQon ConvocaQon • Photos
Terry Features
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Strategic Plan
• Vision: NaQonal prominence • Mission: Pursuit and disseminaQon of knowledge …. improve the future
• PrioriQes – MBA – Undergraduate – Research
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AACSB Benchmarking Peer • Arizona (Eller) • Arizona State (Carey) • Florida (Warrington) • Georgia Tech • Iowa (Tippie) • Maryland (Smith) • Michigan State (Broad) • Ohio State (Fisher) • Purdue (Krannert) • Texas A&M (Mays)
Aspirant • California (Haas) • California (Anderson) • Illinois -‐ Urbana-‐Champaign • Michigan (Ross) • Minnesota (Carlson) • North Carolina (Keenan-‐ Flagler) • Pennsylvania State (Smeal) • Texas (McCombs) • Virginia (Darden) • Washington (Foster) • Wisconsin -‐ Madison
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OperaQonal Plan
• Defining success • Annual goals • RelaQonship with resources
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State + Tuition Funding per FTE Student
$8,665
$13,970
$8,936
$14,644
$14,915
$16,936
$0
$5,000
$10,000
$15,000
$20,000
FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
State State & Tuition
Adjusted for Inflation (CPI)
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Income FY10 ($M) Actual
FY11 ($M) Actual
Change ($M)
Change %
Foundation (endowed spending) 1.92 2.11 .19 9.9 Foundation (annual fund) 1.70 2.22 .52 30.6 State funds/tuition 26.8 27.5 .70 2.6 Program fees/grants/ departmental sales
3.67 4.90 1.23 33.5
Executive Education 1.47 1.93 .46 31.3 Misc. .30 .31 .01 3.3
Total 35.86 38.97 3.11 8.7
Income and Expenses FY 10 vs. FY11 Comparison
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Income FY11 ($M) Actual
FY12 ($M)
Projected
Change ($M)
Change %
Foundation (endowed spending) 2.11 2.26 .15 7.1 Foundation (annual fund) 2.22 2.33 .11 5.0 State funds/tuition 27.5 27.4 (.10) (.36) Program fees/grants/ departmental sales
4.9 5.0 .10 2.0
Executive Education 1.93 2.13 .20 10.4 Misc. .31 .31 .00 0.0
Total 38.97 39.43 .46 1.2
Income and Expenses FY 11 vs. FY12 Comparison
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Expenses FY10 ($M) Actual
FY11 ($M) Actual
Change ($M)
Change %
Tenure-track Faculty 14.1 15.2 1.1 7.8 Other Faculty 3.65 3.90 .25 6.8 Summer School 2.49 2.65 .16 6.4 Staff 6.55 6.77 .22 3.4 Graduate Students 2.73 2.61 (.12) (4.4) Operating/Travel Expenses
7.41 8.00 .59 8.0
Total 36.93 39.13 2.2 6.0
Income Less Expenses (1.07) (.16) .91
Income and Expenses FY10 vs. FY11 Comparison cont.
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Expenses FY11 ($M) Actual
FY12 ($M)
Projected
Change ($M)
Change %
Tenure-track Faculty 15.2 16.2 1.0 6.6 Other Faculty 3.90 3.43 (.47) (12.1) Summer School 2.65 3.15 .50 18.9 Staff 6.77 6.91 .14 2.1 Graduate Students 2.61 2.42 (.19) (7.3) Operating/Travel Expenses 8.00 7.80 (.20) (2.5)
Total 39.13 39.91 .78 2.0 Income Less Expenses (.16) (.48) (.32)
Income and Expenses FY11 vs. FY12 Comparison cont.
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RecogniQon Undergraduate • US News (#28, five in top 25) MBA • Business Week – MBA (#36, #10, #1) • Forbes (#42, #5) • Financial Times – EMBA (#23, #13) CPA pass rate Economics students win Rhodes scholarships Bulldog 100 (half Terry)
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MBA Business Projects and InnovaQon Course
David Sutherland, Ph.D
• KaQe Schaub – One Health • Chris Heins – Reynolds Capital
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Course Overview ObjecQves • PragmaQc experience on strategic projects • IntroducQon to tools for Business InnovaQon • Connect companies with Terry College Class Structure • Class Qme every other week • Client meeQngs every second week • Final presentaQons and report to key stakeholders Project Approach • Client Project Charter • “Beyond-‐the-‐Box” tools and techniques • Final Report and ImplementaQon Plan
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Company Project Sponsors
• Blackboard, Inc.
• Downtown Dalton RevitalizaQon, UGA Archway Partnership
• One Health
• Reynolds Capital Group
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What is One Health?
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Our Task Develop a Business Strategy to Operationalize One Health
Phase I • The Domes6c One Health business strategy – crea6ng a structure and a form
Phase II • Stakeholder Analysis, Value Proposi6ons, and Integra6on Analysis
Phase III • Implementa6on of One Health Domes6c Business Strategy and Stakeholder Integra6on Plan
20
InnovaQon Tools
• ImplementaQon Template
• InnovaQon Progression
• Brainstorming Sessions
• Network of Insights – Dr. Dale Gauthreaux, Director for Ins.tute of Leadership Advancement
at Terry College
– Dr. Josef Schmidhuber, Senior Economist, Head of FAO Global Perspec.ve Studies Unit in Rome, Italy
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One Health Network
Professional Associations
Academia
International Organizations
For Profit Companies
US Government and Associated
Agencies
Non Government
Organizations
Donors and Foundation
Stakeholder Web
22
Reynolds Capital Group • $132 Million Real Estate Fund Focusing
on Southeast U.S. Investments
• Currently Owns Seven Assets
• Variety of Asset Types (Mixed Use, Single-‐Family ResidenQal Land, Industrial)
• Part of the Mercer Reynolds Family of Companies
• Looking to Deploy Remaining $30 Million of Capital
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The Task Use Economic and Demographic Data to Determine the Following:
• How Does the Southeastern US Compare to Other Regions of the Country in Terms of MulQ-‐Family/Rental Demand?
• Based Upon the Analysis, Where is the Best Market to Provide Reynolds With Superior Returns in InvesQng in EnQtled MulQ-‐Family Land?
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InnovaQon Tools • Real OpQons Thinking
– Instead of Focusing on ROI and IRR – Provides Flexibility in Uncertain Times
– Creates Value OpQons That May Not be Currently Apparent
• Insight Networks – Terry MBA Alumnus – MulQfamily Appraiser
– Past Employers
– UGA Professors
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Results � RecommendaQon:
� Pursue MulQ-‐Family EnQtled Land Investments in the Following SE Markets:
� Raleigh-‐Durham
� Charleston
� AddiQonal Deliverables:
� A MulQple Factor Model That Reynolds Can Use to Rate Markets RelaQve to One Another For Any Type of Asset Class Using a Variety of Variables
Relative Ranking
Raleigh-Durham 1
Austin 2 Charleston 3 Fort Lauderdale 4 Suburban Virginia 5 Charlotte 6 Orlando 7 Miami 8 Palm Beach 9
Greenville 10
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Deliverables – A Model For Future Use
Demand Drivers for Multifamily
Factors¹Weight of
Factor1 Population Growth 5% ¹ Note these are primarily demand drivers, however2 Growth of Number of Households 20% Factors #4 & #5 include an implicit supply variable within the statistic. 3 Office Employment Growth 10% * Percent of current renters paying more than 35% of income on rent4 Housing Affordability 1* 20% ** The "Median Multiple" - Median single family home price/average household income5 Housing Affordability 2** 45%
Total 100%
= Southeastern Markets Selected for Supply Side and Pricing Analysis
Southeastern Primary MSA Markets
Population Growth Per
Year 2011-2015
Weighted Score
Number of Households
Growth- 2011-
Weighted Score
Employment Growth 2011-
2015
Weighted Score
Percent of Renters Paying 35% of Income
Weighted Score
Median Home
Price/Avg.
Weighted Score
Total Score
1 Atlanta 2.22% 0.04 2.38% 0.16 3.51% 0.09 43.0% 0.07 1.06 0.00 0.352 Austin 2.68% 0.05 2.92% 0.20 3.76% 0.10 41.6% 0.05 1.87 0.32 0.723 Birmingham 1.19% 0.02 1.65% 0.10 2.59% 0.05 45.5% 0.09 1.45 0.16 0.424 Charleston 1.33% 0.02 1.98% 0.13 2.28% 0.04 44.6% 0.08 2.13 0.43 0.705 Charlotte 2.23% 0.04 2.58% 0.17 2.73% 0.06 38.8% 0.01 1.82 0.31 0.596 Chattanooga 0.57% 0.01 0.93% 0.04 1.96% 0.03 41.4% 0.05 1.39 0.13 0.267 Columbia 1.58% 0.03 2.03% 0.13 2.03% 0.03 40.2% 0.03 1.59 0.21 0.438 Dallas 2.09% 0.04 2.32% 0.15 3.17% 0.08 39.0% 0.02 1.17 0.05 0.339 Fort Lauderdale 1.65% 0.03 1.59% 0.10 2.41% 0.05 54.4% 0.20 1.73 0.27 0.64
10 Fort Worth 2.15% 0.04 2.38% 0.16 3.28% 0.08 39.0% 0.02 1.29 0.09 0.3811 Greensboro/Winston-Salem 0.96% 0.01 0.90% 0.04 1.68% 0.02 43.4% 0.07 1.43 0.15 0.2912 Greenville 1.20% 0.02 1.75% 0.11 2.01% 0.03 42.2% 0.06 1.70 0.26 0.4713 Houston 1.95% 0.03 2.17% 0.14 3.33% 0.08 40.5% 0.04 1.15 0.04 0.3314 Jacksonville 1.53% 0.02 1.84% 0.12 2.66% 0.06 44.7% 0.08 1.28 0.09 0.37
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Building Terry Campaign Cabinet
Mary Virginia Terry, Honorary Chair Dan Amos, Chair
Jim Blanchard Taylor Glover Richard Courts, II Bill Griffin Darren DeVore
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Goals Results Through September 14, 2011
Business Learning Community $70M $25.4M Faculty Support $10M $5.6M Academic Programs* $10M $15.5M
TOTAL $90M $46.5M *Includes Annual Fund
Building Terry Campaign
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$90M CAMPAIGN COMPOSITION 7/ 8-‐FIGURE GIFTS
GOAL $1M+ GIFTS NEEDED
% NEEEDED BASED ON 1M
+GIFTS Overall Campaign
$90M $65.5 M 73%
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SILENT PHASE GOALS BY DECEMBER 2012
GOAL $1M+ GIFTS NEEDED
% NEEEDED BASED ON
1M+ GIFTS
Overall Campaign
$90M $54 M 60%
BLC $70M $42M 60%
32
Poten6al Leadership Gi^ Donors
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Corporate Engagement Task Force
Susan Boyd, Co-‐Chair Kessel Stelling, Co-‐Chair
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• IntroducQons to companies and firms who can hire Terry College students
• To encourage alumni to parQcipate in hiring Terry students • To make introducQons for Terry faculty and staff at targeted
companies • To mentor Terry MBA students through the job search
process
Corporate Engagement Goals
35
Recap 2010-‐11 TDAC Success:
– Richard Courts – Wells Fargo – Elisha Finney – Varian Medical Systems – Bill Griffin -‐ LPS – Liz Goqung – Kimberly-‐Clark – John Heyman – Radiant Systems – David Homrich – AMB Group – Kessel Stelling – Firh Third Bank
36
Placement Results and Goals – BBA
For students seeking employment; within three months of graduaQon
2008-‐09 2009-‐10 2010-‐11 Goal
2010-‐11 Actual
Goal (by 2014)
BBA 52% 56% 61% 67% 80%
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Placement Update – MBA 2008 2009 2010 2011 GOAL (2014)
Graduation 41.9% 37.7% 42.5% 48.6% 80.0%
3 Mos 67.7% 63.9% 78.1% 70.3% 95.0%
• Class of 2011 had slower job acceptances during summer – but surpassed 2010 in 4th month after graduation (89% in 2011 vs. 81.1% in 2010).
• Admissions team is weighing individuals’ employment prospects more heavily than test scores and GPAs when deciding whether to admit them to the program.
• Career Management office is preparing students for additional challenges of the job search in career course.
38
TDAC Members How we can help
• Can you mentor an MBA during spring semester?
• Can you introduce Terry staff to corporate contacts and organizaQons that may need Terry talent?
• Would you host an event to connect with a small group of students?
39
Corsair Society Lessons Learned & Ideas For Future AcQon
• David Baqle (BBA 2000), Metalmark Capital • Les Franks (BBA 1989), UBS
40
Introduc6on
The Corsair Society has successfully increased the breadth and depth of career opQons available to the University of Georgia’s top students § Over 50 students placed into two-‐year analyst programs at top-‐Qer investment banking firms
during our five year existence (e.g. students graduaQng May 2007 to May 2011) § Majority of parQcipants idenQfied as top-‐Qer performers at their respecQve firms (Goldman Sachs,
Morgan Stanley, JP Morgan, Barclays Capital/Lehman Bros, CiQgroup, UBS, and many others) § Peer and graduate mentor relaQonships support future career success and development § Increased student awareness of finance-‐related career opportuniQes within University community
ProducQve engagement with industry through alumni has been vital to our success § Requests to perform tangible, Qme-‐efficient tasks (e.g. mentor students, host meeQngs/
teleconferences) § InteracQon centered around educaQon and idea development as opposed to social networking
Engagement with industry using the Corsair Society experience as a model may posiQon the University and Terry College for future progress and achievement § Support recruitment of top-‐caliber students (compeQQve versus UVA, UNC, Emory, Indiana, etc.) § Enhance teaching and research acQviQes § Improve graduate career success and fundraising producQvity
41
Corsair Society – Mission & Approach
Priority #1: provide a support network for the University’s best undergraduate students interested in exploring career opportuniQes in finance and related sectors • Start early • Develop basic capital markets understanding (see Appendix) • Encourage tangible skill development through study
o Focus on depth – weeklies versus dailies o UQlize peer coaching and alumni mentoring o PrioriQze research and modeling skills
• Teach interviewing and performance/behavior best pracQces through alumni interacQon Priority #2: facilitate producQve discussions among University graduates in related fields • Commitment to excellence and life-‐long learning • Mentoring efforts to help next generaQon and re-‐enforce learning to aid career progression Priority #3: support the academic mission of the University • Faculty and student body uQlize Corsair curriculum, reading lists, and informaQon sessions • Opportunity to facilitate research projects and paper submission where appropriate
42
Corsair Society – Results & Requirements for Success Summary of first five years • Student placement and career success/progression have been substanQal • Success has been aided by “sister” organizaQons (e.g. the Student Managed Investment Fund);
efforts • not coordinated to date • TacQcal-‐level collaboraQon with the University has been minimal; many conversaQons currently
occurring but predominantly at higher levels • Current organizaQonal design and resources do not effecQvely support scalability beyond 10-‐15
students per year • Meaningful diversity in candidate backgrounds has not yet been achieved despite outreach efforts Requirements for future success • Direct engagement between students and alumni pracQcing in industry • EffecQve student preparaQon
o Complement solid academic training with occupaQon-‐specific skill development o More personal effort and dedicaQon required than generally anQcipated
• Top student and graduate performance o Excellence as a tangible goal to effecQvely differenQate versus top schools o Expansion of student ideas on what it takes to be compeQQve
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Weekly Seminar -‐ Possible Semester Schedule Class: 1. IntroducQon to Enterprises & Markets Segment I: Enterprises 2. Energy & Natural Resources 3. Manufacturing 4. DistribuQon & Retail 5. Healthcare 6. Management ConsulQng Segment II: Finance & Capital Markets 7. Capital Markets 8. Corporate Finance 9. Sales & Trading 10. Asset Management & Economic Research Segment III: Achievement 11. Data-‐Driven Decision Making 12. Constant InnovaQon & AdaptaQon 13. Global PerspecQve 14. How to Act: Advice & Warnings 15. Persistence & IntrospecQon
Graded Elements: Segment I: Student Managed Investment Fund Pitches: -‐ What makes a good company? -‐ What makes a good industry? -‐ Specific buy investment opportunity -‐ Specific sell investment opportunity -‐ For each investment opportunity focus on (i) financial metrics, (ii)
suppliers, customers, products, (iii) people/organizaQonal design, etc. -‐ UQlize Microsor office applicaQons (word, excel, and powerpoint)
Segment II: Capital Markets Quizzes & Exams -‐ Current events (e.g. retenQon from Barrons) -‐ Macro economic indicators and trends -‐ Capital markets and quanQtaQve concepts
Segment III: Achievement -‐ Deal maven exam – build a three statement valuaQon model from a
blank excel file -‐ Management consulQng mock interview -‐ Capstone paper
a) What is important to you and why? b) How do you plan to become your best? c) What have you learned since last semester that has changed your goals/aspiraQons or approach?
-‐ Log of conversaQons with alumni (note – to involve specific topics)
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QuesQons & Discussion
45
ElecQons
• Vice-‐Chair – Presides in the Chair’s absence – ParQcipates in ExecuQve Commiqee – Two-‐year term – Becomes Chair in fall 2013
• NominaQons: – Susan Boyd – Other
46
Terry Dean’s Advisory Council
New Chair: Darren DeVore
47
TDAC and Terry Schedule
• January 27, 2012, Atlanta
• April 27, 2012, Atlanta – Alumni Awards and Gala April 28, 2012
• In closing – Return contact sheet
– Return name tags
– Group photo in the stairwell