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Department of

Business Management

Life with meaning.

Prof. Susan Vowels, Dept. ChairProf. Susan Vowels, Dept. Chair

That’s the literal translation of 生意 (sheng-yi), the Chinese word for business.

And that’s our approach to teaching business management as a liberal art.

We engage students. You’ll share ideas with classmates, work closely with expert faculty, and get your hands on real-world tools like SAP (all our majors learn how to use it). You can invest a half million dollars in socially responsible businesses in the Alex. Brown Fund. And you can learn how to build your own business from the ground up. 

It’s your dream, and we want you to dream big. We’re here to help you make it real, and create your very own sheng-yi, life with meaning.

image Our grads image Global business BUS classroom, Spring 2011 In the classroom

Student quick links

Quick links for students

 


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What we're reading

  • imageBenjamin Graham, The Intelligent Investor (1949; revised in 2003 with commentary by Jason Zweig).

    How can you make money in the stock market? In this classic book Benjamin Graham lays out his key idea: “value investing.” Warren Buffett, America’s most famous and revered billionaire investor, was inspired by Graham’s ideas, and called The Intelligent Investor “by far the best book on investing ever written.”

    By focusing on fundamentals and resisting the urge to buy and sell at every market fluctuation, Graham argues, the intelligent investor can minimize risk and maximize long-term gain.

    It worked for Warren Buffett and countless other investors in the six decades since Graham’s book first came out. It probably stil has some wisdom left for you.

  • Steven Schussler, It’s a Jungle in There: Inspiring Lessons, Hard-Won Insights, and Other Acts of Entrepreneurial Daring (Union Square Press, 2010). 

    imageSchussler, the founder of Rainforest Café, offers an entertaining, winning guide to his own experiences as an entrepreneur on a shoestring. As a young man building his business, Schussler was never afraid to take a chance, even if it might mean making a fool of himself.

     

  • imageAdair Turner, Economics After the Crisis (MIT Press, 2012).

    The financial crisis of 2008 continues to roil the global economy. Turner, Britain’s chief financial regulator, argues that what is needed to restore sustained growth is a rethinking of the basic premises of economics and financial regulation.

    For the last generation, Turner says, economic policymaking has been driven by the so-called Washington Consensus: that markets are efficient, that economic actors are rational in pursuit of their own self-interest, and that inequality is an inescapable consequence of the necessary pursuit of economic growth.

    These simplifying assumptions certainly make for elegant mathematical models. But Turner argues that they simply don’t do a good job mapping the real world.

    What are the consequences when the assumptions and the real world diverge?  And what should we do now to rebuild the global economy? Turner’s book will inspire hard thinking about these big questions.

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    B. Joseph Pine II and James H. Gilmore, The Experience Economy: Work Is Theater & Every Business a Stage (Harvard Business School Press, 1999).

    Terry Scout: Pine and Gilmore’s main point in this classic book is that people want experiences rather than goods and services.  Companies excel by providing compelling experiences for customers.  Apple Stores with the genius bar are an experience.  (They really are. I love to go to an Apple Store.) 

    Required for BUS 202 Marketing, 2013-14.

  • imageCarroll Quigley, The Evolution of Civilizations (first published 1961).

    In this far-ranging historical analyis, Quigley traces the seven-part life-cycle of great civilizations. Prof. Jim Flanagan, who teaches global business, still remembers reading the book as part of Quigley’s “mind-blowing” course at Georgetown University his very first year in college. Quigley, Prof. Flanagan says, still has a lot to teach students today, more than a half-century since the book’s original publication, about history, civilizations, and economics.

  • imageThomas Stanley and William Danko, The Millionaire Next Door (first published in 1996).

    Professor Terry Scout recommends this book as one of the best life lessons young people should absorb: become wealthy by the choices you make, including living frugally and avoiding debt. He says the book calls to mind the immortal advice from Charles Dickens’ character Mr. Micawber (from David Copperfield): “Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

     Based on extensive interviews, Stanley and Danko conclude that wealth in America is usually “the result of hard work, diligent savings, and living below your means.” It’s an old lesson, well understood by many successful people—and it will be the foundation for many future millionaires, too.

  • imageWalter Isaacson, Benjamin Franklin: An American Life (Simon & Schuster, 2004).

    Inventor, diplomat, statesman, scientist, Founding Father–and entrepreneur. Benjamin Franklin helped invent the quintessentially American notion of the entrepreneur, the enterprising individual who recognizes opportunities, takes risks, and earns great success.

    Isaacson traces Franklin’s story from his start as a printer’s apprentice to his success as a publisher and journalist, to his even greater public career in diplomacy and the American founding. He shows that while Franklin may have ended up a distinguished statesman and beloved figure, he kept to the end his entrepreneurial interest in new ideas, new opportunities, and new enterprises.

  • imageDan Senor and Saul Singer, Startup Nation: The Story of Israel’s Economic Miracle (12, 2009).

    Israel, a nation of just 7 million people, has more startup companies than China, India, or Japan, and is a global magnet for venture capital investment, with more than twice as much venture capital per person than the United States, and 30 times more than Europe.

    Senor and Singer explore the intellectual traditions, government policies, and people behind Israel’s remarkable economic success. Entrepreneurialism, the authors suggest, is far more than a policy or a mindset–it is a culture, as well.

  • imageTom Morris, If Aristotle Ran General Motors (Holt, 1997).

    In this book about philosophy and business, Morris argues that ancient philosophy has a lot to teach us about modern life and work. 

    “If we let the great philosophers guide our thinking,” Morris says, “… we put ourselves in the very best position to move towards genuine excellence, true prosperity, and deeply satisfying success in our businesses, our families, and our lives.”

  • imageGary Belsky and Thomas Gilovich, Why Smart People Make Big Money Mistakes And How To Correct Them: Lessons From The New Science Of Behavioral Economics (Simon & Schuster, rev. ed. 2010).

    In this entertaining and readable book, Belsky and Gilovich explore how people think about money and financial decisions, and why we sometimes make mistakes. Drawing on the rapidly advancing field of behavioral economics, they explore mistakes like the sunk cost fallacy, the tendency to throw good money after bad.

    No matter how ‘smart’ you are, Belsky and Gilovich will help you avoid making irrational financial decisions.

  • imageRichard D’Aveni, Strategic Capitalism: The New Economic Strategy for Winning the Capitalist Cold War (McGraw Hill, 2012).

    Western economists and policymakers have long favored a laissez-faire approach to capitalism and the market.

    But D’Aveni, a strategy professor at Dartmouth’s Tuck Business School, argues that in today’s global economy this traditional hands-off view is failing. Unless Western governments accept a more active role, D’Aveni says, they will continue to lose out to the Chinese model.

  • imageWalter Isaacson, Steve Jobs (Simon and Schuster, 2011).

    Isaacson (best-selling author of biographies of Henry Kissinger, Benjamin Franklin, and Albert Einstein), in his exhaustively researched biography, paints a vivid picture of the complex, difficult genius who co-founded Apple and revolutionized how the world uses computers, listens to music, and more.

  • imageSutton and Rao, Scaling Up Excellence: Getting to More Without Settling for Less (Crown Business, 2014).

    Stanford professors Sutton and Rao explore how organizations can take good ideas practices—“pockets of exemplary performance”—and ‘scale’ them: expand their reach across the entire organization. Based on extensive research from many different industries, Sutton and Rao present a concise, clear framework for “spreading excellence” within a company.

  • Gretchen Morgenson and Joshua Rosner, Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon (Times Books/Henry Holt, 2011).

    imageA searing exposé of the financial collapse in America in the 2000s, a collapse that has had far-reaching consequences and has been likened to a second Great Depression.

    Pulitzer-Prize-winning journal Morgenson and her co-author trace the roots of the collapse to an unhealthy, uncontrolled partnership between private-sector banks, mortgage giants Fannie Mae and Freddie Mac, and politicians going back to the 1990s. They paint a vivid story of how Fannie and Freddie, eager to guard their privileged position of being backed by the government, aggressively resisted Congressional oversight while showering money on politicians to win favorable treatment.

    The authors reveal the workings of the revolving door between Washington and Wall Street, and note that in the years since the collapse, no individual has been held accountable for the ruin and suffering. It’s a powerful, astonishing story of immensely powerful individuals using their connections and positions to enrich themselves, while shielding themselves from the consequences of their mistakes.

  • Susan Cain, Quiet: The Power of Introverts in a World That Can’t Stop Talking (Broadway, 2013).

    In this celebrated best-seller, Cain takes a look at the undervalued introvert, and what value ‘quiet’ individuals provide to organizations. “Quiet,” according to a review in Fortune, should interest anyone who cares about how people think, work, and get along, or wonders why the guy in the next cubicle acts that way. It should be required reading for introverts (or their parents) who could use a boost to their self-esteem.”

[Click here for more good reads.]


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