Integrated Management Team Report November 1, 2012

Definition Integrated Management Education is a set of classroom and real life experiences that provides the student with comprehensive knowledge, application and synthesis of all business functions and enables him or her to apply that knowledge to actual business situations

Objectives Produce a well rounded business person regardless of major/concentration SOB graduate should be able to directly apply their major knowledge to business

Goals of the Committee Goal 1: Integrated Management will represent at least 20% of Core Curriculum (CC) course content across all disciplines Goal 2: 100% of all students will have at least one “qualified” experiential Integrated Management experience outside the classroom before graduation

Work on Goal 1 Integrated Management will represent at least 20% of Core Curriculum (CC) course content across all disciplines Plan: Examine each of the courses in the core curriculum to understand the amount of integrated management instruction provided in the core curriculum Goal: Total integrated management core curriculum must meet or exceed 20% IM content Operationalization: Extent to which assignments/assessments in the course requires or provide instruction in another discipline

Two Different Core Curricula HADM, in order to meet is accreditation requirements has a different core curriculum which focuses on preparing students for the hospitality industry

Traditional Core Curriculum Courses Acct 2400 – Principles of Accounting 1 Acct 2500 – Principles of Accounting 2 Acct 3100 – Legal Environment of Business CIS 2400 – Fundamentals of Information Systems DSC 2010 – Elementary Statistics DSC 3020 – Statistical Analysis DSC 3300 – Decision Sciences ECON 2200 – Principles of Macroeconomics ECON 2300 – Principles of Microeconomics Fin 3200 – Principles of Finance Mgt 3000 – Organization and Management Mktg 3210 – Principles of Marketing Mgt 4740 - Business Policy: Strategic Mgmt Curriculum is stove piped on the disciplines

HADM Core Acct 2400 – Principles of Accounting 1 HADM 4300– Law and Ethics CIS 2400 – Fundamentals of Information Systems EDU 3700 – Statistics DSC 2010 and 3300 removed ECON 2200 – Principles of Macroeconomics ECON 2300 – Principles of Microeconomics HADM 4400 – Principles of Finance Mgt 3000 – Organization and Management HADM 4200 – Principles of Marketing HADM 4600 - Business Policy: Strategic Mgmt Substitutes their own courses for Fin, Mktg and Strategic Mgt.

Survey of Core Curriculum Operationalized Integrated Management content as assignments in a course that require or provide knowledge from another course Designed survey instrument in which the course coordinators would enter each assignment in a course and whether it required the student to know information from another discipline Completed instruments will be consolidated and the number of assignments that require knowledge from another discipline

Survey Instrument

Data Collection Course coordinators were requested to complete the forms Received the completed forms Consolidated the results

Total Traditional Core Goal 1 Findings Total Assignments IM Assignments Pct IM Total Traditional Core 125 63 50.40% Total HADM Core 104 73 70.19% Replacement courses for Finance, Marketing and Strategic Management account for the difference We have met the goal percentage for assignments using knowledge from other fields

Findings Courses sort themselves into two types: Skills training Business principles Skills training – provide fundamental technical skills Business principles – education in core business functions such a CIS, Management or Marketing

Skills Training Course DSC 2010 – Elementary Statistics Provides training in topics such as calculating mean, median, mode, hypothesis testing Problems are business based such as testing if means of two samples of sales responses are different but do not educate or require knowledge of other fields

Principles Courses CIS 2400 – Fundamentals of Information Systems How information systems are utilized in business Students focus on the business impact of technology Business justification of new technology initiatives Financial analysis – Make/buy etc. SWOT analysis Market analysis (Porter’s five forces)

Mosts and Leasts in the Traditional Core Courses that use knowledge from the most fields Acct 3100 – Legal Environment of Business Mgmt 3000 – Organization and Management Most used fields Mgt, Mkt – used in 37% and 33% of assignments Least Used Fields HADM and DSC – used 8% and 13%

Mosts and Leasts in the HADM Core Courses that use knowledge from the most fields Mgt 3000 – Organization and Management HADM 4600 – Strategy course Most used fields FIN, Mgt, Mkt – used in 29%, 25% and 22% of assignments Least Used Fields DSC and CIS – used 10% and 11%

Discussion While the findings show that we have met the goal, the curriculum is still stove-piped into the various disciplines Might want to consider moving to a more integrated approach such as that used by McIntire School at UVA

McIntire Program First two years include foundation courses in Accounting, Writing, Math, Statistics, economics and GEC subjects Third-Year Integrated Core Experience (ICE) The Integrated Core Experience is a two-semester core program composed of 12 credit hours in the fall semester and 9 credit hours in the spring semester. Fall Comm 3010 (4 hrs) Strategy and Systems Comm 3020 (4 hrs) Behavioral Issues in Marketing and Management Comm 3030 (4 hrs) Quantitative and Financial Analysis Spring Comm 3040 (4.5 hrs) Strategic Value Creation Comm 3050 (3 hrs) Entry Strategies in Emerging Markets Comm 3060 (1.5 hrs) Quantitative Analysis II http://www.commerce.virginia.edu/undergrad/academics/concentrations/Documents/Course_Planning.pdf In the fourth year, they take their concentration/track courses.

Goal 2 100% of all students will have at least one “qualified” experiential Integrated Management experience outside the classroom before graduation Committee will meet during the month of November to review the results of the survey and determine the requirements of internship opportunities that will “qualify” as integrated management experiences.

Questions?