Risk Assessment

Initiative 1: Develop and Implement a B.S. in Finance

Evidence from alums, students, donors, and firms all point to considerable interest and demand for expanding our students’ knowledge and skills in finance; additionally, the current minor is well enrolled. Initial conversations with stakeholder groups and faculty in the Department of Economics and Finance precipitated an examination of feasibility and resource needs associated with a degree program. The program, if approved by the Board of Regents, will go into effect in Fall 2022.

Initiative 2: Expand and Enrich High Impact Practices

Collaborating with the award-winning GC Journeys program, the CoBT will prioritize growth in high impact practices (HIPs) both in terms of participation by learners and faculty. Emphasis will be on student professional development, engagement with practice, and global experience to include first year-seminars, capstone projects, undergraduate research mentoring, internships, career milestones, and study abroad. HIPs contribute to positive outcomes such as higher student engagement with practice and community, career placements, a sense of belonging, greater interaction with faculty, and gains in critical thinking, communication, and interpersonal skills. Through partnerships with various offices on campus, along with employers and practitioners in the field, the CoBT will devote resources to encourage creative, intentional ways of sustaining and building transformative experiences.

Initiative 3: Ensure Technology Currency across Academic Disciplines

CoBT graduates need to be assured that they are learning the technologies used by industry in their fields. Faculty need to know what is and is not being taught in other classes. Faculty should know what technologies industry uses and expectations for early career professionals. Students, employers, parents, and alumni need to know what is being taught in which programs. 

Initiative 4: Grow and Sustain Graduate Enrollments

With the impending demographic shifts and a tight labor market, the CoBT is challenged to address declining graduate enrollments and to focus resources, efforts, and priorities for growth and innovation. Work in mid-2022 to restructure the CoBT’s Graduate Programs office from a centralized to a decentralized model led to further faculty engagement (as program coordinators), redefining some staff positions to provide support to graduate recruitment and advising, and the addition of a dedicated graduate recruiter. The resources generated from the CoBT Graduate Programs are significant not only for the university, given differentiated allocation in the state funding model, but also the premium tuition in two of the four existing programs that support CoBT operations and strategic initiatives. While the following actions are intended to reverse a decline in program enrollments, other actions may be determined and implemented for all or some of the programs as part of continuous review and improvement.

Initiative 1: Develop partnerships with large employers

Engage three-five large organizations to develop MOUs with detailed expectations and benefits. It is expected that the companies will provide class projects, serve as Elevator Pitch (and/or other competitions) judges, attend GC Career Fairs, employ students as interns, and participate in other CoBT HIPs. Additionally, we seek ways for faculty to participate in externships with companies in areas that support their teaching and research. These organizations are broadly defined to include those large enough to have a steady stream of projects/internships and engaged involvement.

Initiative 2: Design and Implement a Center of Innovation

Preliminary conversations began in Fall 2020 with potential partners in public and private sectors; this will remain a priority for us to explore in the coming months. A comprehensive and formalized Center for Innovation has the potential to further capitalize on our commitment to both high-impact practices and engagement with and service to local and regional organizations. Ideally designed as an interdisciplinary laboratory for student and faculty collaborations across campus, this Center would serve as a space for both entrepreneurial activity and consulting. For instance, cross-disciplinary teams could work with faculty mentors in community-based engaged learning whereby they offer consulting services in areas of strategy, marketing, HR, finance, technology, and the like. Also, the center could facilitate entrepreneurial competitions for students across disciplines to help bring ideas to the market. It would also be a collaborative space with the Center for Economic Education that leads the annual Minority Youth in Business Program (MYBP) in which the high school participants engage in a business plan competition as part of the summer curriculum. The synergies with the MYBP could be significant both in terms of opportunities to further build that program, but also to involve our GC entrepreneurs and mentors with participating underrepresented high school students. Lastly, the Center would be a space for organizations to engage our students and faculty experts on emergent technologies and critical policy issues. For instance, an emphasis on ESG (environmental, social, and corporate governance) and the intersection of technology on matters related to ethics, access, disparity, and equity could be a central focus. The Center will provide support for researching, reporting, and advising on these topics including triple bottom-line reporting. The Center could also oversee students as they co-manage an ESG investment portfolio.

Initiative 3: Drive Growth in Diversity, Equity, and Inclusion

Upon arrival in July 2020, the Dean’s team began a needs and opportunity assessment, along with engaging friends and donors. One particular area emerged as a shared passion and priority – diversity, equity, and inclusion (DEI). The College reaffirms our commitment to drive growth in these areas. We espouse a culture of inclusiveness in our teaching, learning, and decision-making, and an appreciation for diverse perspectives and backgrounds, along with equitable access to resources that support faculty/staff development and student learning. The following actions will bring to fruition our aspirations in this area of strategic importance.