May 25, 2019

Richardson Column in The Free Lance-Star

College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: Diversity and Inclusion.

 

Much is being written about diversity and inclusion these days. While the term “diversity” is probably not new in your vernacular, perhaps the word “inclusion” is.

We’ve been talking about diversity for decades. Originally, creating a diverse workplace meant ensuring that we had people with different ethnicities and genders represented. While for some people this may still be what they understand diversity to mean, most people have moved beyond that. It now means including people who might represent different religions, sexual orientations, physical or emotional disabilities and the like. The definition has broadened. Read more. 

Richardson Column in The Free Lance-Star

College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: Having an Opinion with no Experience. 

 

I seem to hear more and more stories about people expressing an “expert” opinion when they’ve not had personal experience with the subject for which they have an opinion.

It reminds me a bit of when people who don’t have children have all of the answers about raising children.

The workplace is complicated, comprising many individuals, each with their own issues. Sometimes I wonder how we get anything done. Businesses are made up of people who generally work together to achieve a common goal. Considering the problems that could arise, it’s amazing the goal is ever reached. Read more. 

 

Richardson Column in The Free Lance-Star

College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: “Have to” vs. “Get to.” 

 

I LOVE QUOTES. And one of my favorite quotes of all time is from Charles Swindoll. He says, “We have a choice every day regarding the attitude we will embrace for the day … life is 10 percent what happens to me and 90 percent how I react to it. And so it is with you … we are in charge of our attitudes.”

Read more. 

 

Richardson Column in The Free Lance-Star

College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: Bad Boss. 

 

Dear Bad Boss,

Your staff complains about you. You’re a micro-manager. Or maybe you’re a detached manager, showing little interest in your people or the work they do.

Or maybe you put such pressure on your employees that they feel stressed all the time and hate coming to work. Of course, because of this, productivity suffers.

Maybe you have incredibly high expectations that are unachievable, especially because you either don’t know to hire or you don’t train your folks. There is no possible way for the folks in your organization to reach your ridiculous expectations.

Whatever the reason your folks don’t respect you, I want to thank you.

Read more. 

Richardson Column in The Free Lance-Star

College of Business Dean Lynne Richardson

College of Business Dean Lynne Richardson

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: Taking Your Foot Off the Gas Pedal.

 

Most of us have been there. The organization we work for is losing customers, patients, or students. When those who pay disappear, revenue is impacted and employee morale suffers. Perhaps a lack of customers is not the issue. Maybe expenses are out of control. Maybe it’s a combination of both. Whatever the culprit, the organization’s leadership ultimately is replaced, typically with an outsider.

Then what happens? Depending on the situation, of course, many organizations bring in what I would describe as turnaround specialists. These folks are highly motivated to address the issues, and quickly. Those who hired them have given them their marching orders. They are to right the ship. They were hired with that express purpose. Their timetable is limited to address whatever is causing the problems.

Read more.

Richardson Column in The Free Lance-Star

Lynne Richardson, Dean of the College of Business

Lynne Richardson, Dean of the College of Business

Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: You are Rare.

 

I recently received a note from a new friend. One of the sentences was, “You are rare.”

This caused me to pause. I cannot remember in my six decades of life anyone ever saying that exact phrase to me.

It got me thinking. Do most people think it’s a good thing to be rare? Let’s focus on the workplace. Read more.

 

 

 

AACSB Accreditation Achieved for College of Business

AACSB International (AACSB) has announced that the University of Mary Washington has earned accreditation for its College of Business. UMW is one of only five U.S. schools to receive accreditation recognition this year. AACSB is the longest-serving global accrediting body for business schools and the benchmark of quality for business education worldwide.

We applaud the leadership, faculty, and staff of the College of Business. This is quite an accomplishment for Mary Washington and one that will have positive impact on our student and faculty recruitment as well as our international reputation. Earned by only 5 percent of the world’s schools offering business degrees, AACSB accreditation signifies that UMW’s business programs feature innovative programs that will enable us to continue to recruit outstanding faculty, high achieving students, and international scholars. Also, this distinction will attract more employers eager to recruit our College of Business students and produce graduates that earn highly competitive salaries.

Congratulations to former and returning College of Business Dean Lynne Richardson and Acting Dean Ken Machande, who oversaw the rigorous and lengthy AACSB accreditation process. As Dr. Richardson relayed recently to a reporter: “To earn this accreditation, schools of business must meet 15 very high standards as well as expectations in the areas of strategic management and innovation, participants (students, faculty and professional staff), learning and teaching, and academic and professional engagement. This is a multi-faceted, multi-year process and there are steps all along the way that must be met.”

This was a campus-wide effort, and we express our appreciation for the diligent efforts over many years by all involved. Please join us in extending heartfelt praise to the faculty and staff of UMW’s AACSB-accredited College of Business.

 

MBA Students Create New Plan for Stafford Airport

An MBA student group, in concert with the UMW Center for Economic Development (CED), has worked on a project for the Stafford Regional Airport (SRA).

The group of COB/MBA students, working with Associate Professor of Management & Marketing Louis Martinett and CED Executive Director Brian Baker as well as alumni mentor Micah Dalton, produced a written strategic marketing plan for SRA. The outcome of the planning process was a plan that described a clear strategy for growth for SRA. The strategic marketing planning process included hands-on work with the Stafford Airport Authority, preparation, and follow-up evaluations along with a clear strategic plan of implementation.

Through the process, the student team and the Airport Authority worked together on a review of the current business model, revising the mission and vision, answered key questions for expanding the scope of business, and identified opportunities and defined ideas for expanding the business footprint of SRA.  The student team included Omar Awan, Megan Holder, Steven Ping, Max Watson, Kaitlynn Wickersham.

Dave Ellis, vice chairman of the SRA Authority and a 25-year Air Force veteran with nine years in a senior civilian role at Air Force Headquarters in the Pentagon said: “During those years, I’ve been through numerous planning exercises and the project led by these UMW grad students has the been the best by far. Each meeting was professionally run and we accomplished specific activities and achieved desired outcomes to produce an exceptional Strategic Plan. The plan will re-focus our collective efforts into a cohesive approach, allowing the SRA to deliver outstanding experiences to our customers, business partners and the community.”

UMW Executive-in-Residence to Speak Oct. 28

Dave Carey, co-founder and president of ROI Training, will speak on how businesses can hire and retain the right talent at the University of Mary Washington on Wednesday, Oct. 28. Named the College of Business’ Executive-in-Residence, Carey will discuss the benefits of hiring from a liberal arts school and touch on tips for working with […]

Business Faculty Publish Article in Management Decision

Rachel Graefe-Anderson and John Marsh, both assistant professors in the College of Business, have published the article “Cashing-In: Understanding Post-Acquisition CEO Stock Option Exercise” in the journal Management Decision.

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Dr. Graefe-Anderson

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Dr. Marsh