The Wake Forest University School of Business was formerly the Babcock Graduate School of Management and the Calloway School of Business and Accountancy. Established in 1969, the Babcock School admitted its first classes of full-time and executive students in 1971 and presented its first graduating class in 1973. The Babcock School was established with a gift from the Mary Reynolds Babcock Foundation and named in honor of Charles H. Babcock, a noted businessman and philanthropist who influenced civic, cultural and business development in Winston-Salem and North Carolina.
In 1985, the Babcock Graduate School of Management earned its accreditation from the AACSB, and in 1993, the school moved into the newly constructed Worrell Professional Center, the first building in the nation to house both graduate business and law schools under one roof. In 1987, Babcock launched its evening Master of Business Administration (MBA) program in Winston-Salem, followed by an evening MBA program in Charlotte in 1995 and a Saturday MBA program in Charlotte in 2004. It was announced in the fall of 2014 that the full-time MBA program would be discontinued with the last class matriculating in the spring of 2016.
International relationships
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The Wake Forest University School of Business has long-standing relationships with international business schools including eight international programs that allow faculty and students from each school to teach and study at the other. The partner schools are Bordeaux School of Business, France; EM-Lyon Graduate School of Management, France; European Business School, Germany; Indian Institute of Management-Calcutta, India; Institute of Business Studies, Russia; University of Kaiserslautern, Germany; WHU-Otto Beisheim Graduate School of Management, Germany and Vienna University of Economics and Business Administration, Austria.
Centers and institutes
The Wake Forest University School of Business houses several centers and institutions.
Center for Leadership and Character
Center for Retail Innovation
BB&T Center for the Study of Capitalism
Marketing Summit
Each year, the Babcock School hosts a Marketing Summit which includes an MBA case competition, undergraduate case competition and a marketing forum.
For the MBA case competition, major corporations submit marketing challenges in a business case format. For example, in 2008, (judged by Bingham Willis) the event was sponsored by PepsiCo and students were challenged to develop new business opportunities for its True North snack food brand. In 2007, Motorola challenged students to create a marketing plan for its new Q product for small and mid-size U.S. companies. MBA student teams have 36 hours to create a marketing solution that is presented to a panel of judges and the sponsor's representatives. Past sponsors have included Motorola, Yahoo!, Coca-Cola, Lowe's Home Improvement Store, Apple Computer, Sara Lee, GlaxoSmithKline, Heineken, Microsoft, DISH Network / Echostar Communications and R. J. Reynolds Tobacco Company. The first-place team receives $5,000; second place, $3,000; and third place $2,000. In addition to prize money, participating students get great exposure to some of the world's best companies. Resumes of participating team members are published in a book that is distributed to the sponsor, panelists, judges and distinguished guests attending the Summit. Moreover, communications to senior marketing executives and recruiters at the country's 1,000 largest corporations highlight the competition and encourage executives to review participants' resumes. Past participants in the MBA case competition include teams from the University of Washington, University of Virginia, Michigan State University, Indiana University, Hong Kong University, Dartmouth College, University of California-Berkeley, and the Babcock School.
In the undergraduate case competition competing teams participate in a three-phase challenge over the course of two months in which they deal with pressing issues facing the event’s corporate sponsor. The three highest-scoring teams are invited to attend the Marketing Summit and present their solutions before a panel of MBA faculty, CEOs, CMOs and representatives from the sponsor. The winners are announced at the closing awards dinner and receive their cash prize. Past participants have included teams from the University of Pennsylvania, the University of Florida and Boston College, among others.
The Marketing Forum features marketing leaders executives from companies from around the world arranged for a panel discussion with the general public. Panelists discuss issues facing their companies and offer unique insights into current marketing trends.
Elevator Competition
Another event at the Babcock School is the Elevator Competition. The competition was first held in 2000 and has been held every year since at the Wachovia Center in downtown Winston-Salem. During this competition, MBA students with an interest in entrepreneurship pitch their ideas to a venture capitalist while riding in an elevator for two minutes. The student must also supply a detailed business plan and prepare a formal presentation of their business venture. The objective is to earn more time to present their ideas formally to a panel of venture capitalists, which chooses the winners. The winning team wins $5,000 in cash, $40,000 in professional services and the opportunity to meet with a venture capital group to explore possible funding for their business plan.
Past participants have included MBA students from Babson College, Carnegie Mellon University, Yale University, Duke University, Hong Kong University of Science and Technology, New York University, Peking University, Purdue University, University of Arkansas, University of Chicago, University of Michigan and Wake Forest University.
Student life
The School's primary location is on the Wake Forest University campus in Winston-Salem, N.C. Programs offered there include a Bachelor of Science (BS) degree program for undergraduates with majors in finance, accountancy, mathematical business, and business enterprise management. Graduate business programs include an evening MBA, MA in Management and MS in Accountancy. The School of Business also maintains a campus in Charlotte, N.C., that houses the Charlotte evening and Saturday MBA programs.
Student clubs and organizations
Students at the Wake Forest University School of Business can choose from among nearly 20 clubs and organizations, or they can participate in a variety of events including the Greater Babcock Open and a Charity Auction. Student organizations include the Black Business Students Association, Entrepreneurs Club, Hispanic Club, Net Impact Club, Strategy and Consulting Club, Women in Business and The Joint Degree Society.
Lecture series
Through the Babcock Leadership Series and Broyhill Executive Lecture Series, MBA students can meet, both formally and informally, with business and government leaders.
Notable past speakers have included:
- Sen. Elizabeth Dole (R-N.C.); former U.S. Secretary of Transportation
- Alan Greenspan, former Chairman of the Federal Reserve Board
- Hugh L. McColl Jr., retired Chairman & CEO of Bank of America
- Bonnie McElveen-Hunter, former U.S. Ambassador to Finland; current Chair of the American Red Cross
- Robert Rubin, former U.S. Secretary of the Treasury; current Director, Citigroup
- Margaret Thatcher, former British Prime Minister
- Anna Cabral, Treasurer of the United States
- John Mackey, Chairman and CEO of Whole Foods Market.
Members of Pilobolus (dance company) also visited to stress the importance of creative thinking in the business world.
Career Management Center
The Career Management Center (CMC) staff works with students to assess career options, refine goals, and network with well-placed corporate contacts. Beyond the immediate job search, the staff works with students to develop interview and résumé skills.
Faculty and academic units
More than 75% of Babcock faculty have international consulting, teaching work or research experience. More than 90% hold a PhD or other doctoral degree, 33% serve on a company board of directors and 30% have experience owning their own company.
Notable students and alumni
- Ted Budd - Member of the United States House of Representatives
- Mike Mahoney - President, CEO and Chairman, Boston Scientific
- Charlie Ergen â€" Chairman and CEO, EchoStar Communications Corporation
- Warren Stephens â€" Chairman, President and CEO, Stephens Inc.
- G. Kennedy Thompson â€" Chairman, President and CEO, Wachovia Corp.
- Anil Rai Gupta - Chairman and Managing Director, Havells India
- Eric C. Wiseman - Chairman, VF Corporation
Deans
See also
- List of United States business school rankings
- List of business schools in the United States
- Wake Forest University School of Medicine
References
External links
- Official website
- Wake Forest University website