Business Dean Leads Smeal College Into Brave New World
Nov. 1, 2000
Good business is no longer just being an expert. Today's business managers must be much more -- creating products in six months, tackling competitors from every corner of the planet, motivating a talented workforce located in unseen locations worldwide, and using the Web efficiently to fulfill customer orders and negotiate with potential suppliers. That's just a handful of the new challenges.

At Penn State, the new business school dean is leading the charge into the 21st century. "The dramatic change in the business world is being driven by the knowledge and information management revolution, the dominant role of entrepreneurship and innovation, and the global marketplace," says Dr. Judy Olian, dean of the Mary and Frank Smeal College of Business Administration at Penn State.

"Today's students have to assimilate huge volumes of information and execute decisions in Internet time," Dr. Olian says. "They need entrepreneurial thinking and global brains, using the power of technology in ways that are constantly changing. While developing a core set of skills, they must be flexible and adaptive."

As the dean sees it, Penn State students are facing converging "hybrid" economies that require a different business model. "New Economy" companies such as eBay and Amazon.com dazzle investors and grab the headlines but they also must confront conventional challenges of income and profit; manage growth, inventory, and distribution; as well as keep and reward talented employees.

"Old Economy" companies, such as GM or Exxon, also need to master information technology tools and the Internet, to gain efficiencies in doing business - ordering parts and supplies, managing customer and supplier relationships, managing internal operations, and updating information to employees and customers worldwide in a few hours.

"Technology has brought together industries, not divided them. Ford is restructuring its distribution channels to reach customers directly, using the powers of the Internet," Dr. Olian explains. "On the other hand, eBay must learn the mechanics of distributing products as well as how to maintain trust in an anonymous sales relationship.

"Avon which is famous for its door-to-door sales force is finally deploying the powers of the Web to steer buyers toward its representatives," she adds. "So at Penn State, we will be teaching our students core fundamentals plus the skills to exploit unprecedented opportunities in traditional as well as new industries that have been transformed by the telecommunications and information technologies revolution."

Simply put, the new vision statement says it all: SMEAL: Business at Penn State - A Pre-eminent learning community, shaping business practice for tomorrow's converging economies.

"The Smeal College is rich in learning, research accomplishments, history and inspiration," she notes. "The entire college has been focusing on strategies to further enhance our degree and executive programs, the agendas for our research centers, and new outreach activities that will shape tomorrow's business practices.

"We are in the midst of an aggressive hiring campaign to add top researchers and teachers to our world-class faculty and to significantly expand the size of the College," she adds.

First, the MBA program is undergoing a redesign from the ground up in content and format. Drawing on its current strengths, the program will center more directly around the converging economies. The plan is to conduct benchmarking with other MBA programs, consult with students, alumni and employers, and develop the new content and format, aiming for an August 2001 rollout.

Second, the college will be assessing the market for new products in degree and non-degree programs at University Park or elsewhere, e.g. courses through distance learning, certificate options, and possibly a part-time MBA program for fully employed professionals at an off-site location, targeting the needs of prospective students and employers.

The college also is expanding students' learning experience by supporting more "web-centric" teaching and learning innovations. For example, a business class can use CDs instead of textbooks. Not only will the CD contain the same text at a cheaper price, but it also will offer interactive problem-solving exercise and the latest hot links to important Web sites, i.e. interviews with CEOs or executives on Wall Street. The CD can be updated every semester easily and inexpensively so the students can use a self-paced approach with the newest information. In the works is an electronic trading room that will give students the opportunity to engage in real-time trading and experience "losing their shirts" in a simulated day trading environment.

The College has established the new Michael J. Farrell Center for Entrepreneurship that prepares students to identify and launch new venture opportunities, as well as provide entrepreneurs with the tools they need for business innovation.

Faculty research continues to be a critical priority in the College. A new seed fund for research has been created to support the advancement of business knowledge.

"Our faculty are intensely engaged in research and teaching that will significantly help industries in the U.S. and worldwide," Dr. Olian states. "We're not just capturing what's going on; we're shaping the future of global business markets. Our professors' cutting-edge research affects what business people do and think."

To house all of these energetic happenings, the University is developing plans for a landmark $60 million, 210,000-square-foot facility, serving as "home" for the entire Smeal community - students, faculty, alumni, and business partners.

These are, indeed, exciting times at the Smeal College, but for Judy Olian, this is familiar territory. Her research and expertise is in strategic human resources management. She specializes in designing and evaluating human resource management systems that are aligned with the business strategy. Plus, she has led the development of technology-based learning and research environments. Dr. Olian joined Penn State from the University of Maryland, where she served as Senior Associate Dean and Professor of Management and Organization at the Smith School of Business. One of her accomplishments was to lead the University of Maryland in launching a total quality (TQ) program and supporting corporate partnerships for TQ. She also has consulted with private corporations, such as the Marriott Corporation and Black and Decker, and not-for-profit organizations such as the World Bank and Public Broadcasting on strategic human resource management issues.

Born and raised in Australia, the dean has worked and lived in several countries, including Israel and Europe, which she calls "a set of extraordinary life-shaping experiences." "It is essential that our students develop global brains and become people who can spot market opportunities in every direction, emerging from the reshuffling of the basic rules of business and industrial structures," Dr. Olian says. "People who can see horizontal business linkages and opportunities on top of basic preparation in the core functions of business, are going to be the leaders in tomorrow's marketplace. That's what we're teaching at Smeal."

Contact: Vicki Fong, 814-865-9481
For more information about the Smeal College, go to: http://www.smeal.psu.edu/