AACSB CONTINUOUS IMPROVEMENT REPORT - Villanova

AACSB CONTINUOUS IMPROVEMENT REPORT

Villanova School of Business

Villanova University

Villanova, Pennsylvania 19085

December 2016

VISIT DATE: February 26–28, 2017

Address Questions to:

Dr. Joyce E. A. Russell

The Helen and William O’Toole Dean

[email protected]; 610‐519‐4331

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I. ENGAGEMENT, INNOVATION & IMPACT

Over the past five years, the Villanova School of Business has continued to create and develop many

initiatives that support our strategy, all with the goal of creating a learning environment that transforms

lives, positively impacts society, nurtures creativity, provides a global perspective, and develops ethical

leaders. The below outline provides an overview of our most notable accomplishments, as they relate to

the concepts of engagement, innovation and impact and our strategic platforms.

I. Develop innovative curricula to holistically prepare students for leadership success in business and society

Implemented a comprehensive professional development sequence for undergraduate students, called the Backpack to Briefcase Program. Program features sophomore‐year one‐credit course, and junior year one‐credit case competition, as well as a series of programs and events for freshmen through seniors. (IMPACT, INNOVATION, ENGAGEMENT)

Added a required for‐credit Professional Development Program for MSF students (ENGAGEMENT)

Added a minor in Analytics; Added a co‐major in Analytics, due to popularity of minor. (INNOVATION)

Changed undergraduate core quantitative sequence to include a focus on analytics, leveraging expertise in this area through the Center for Business Analytics (INNOVATION).

All undergraduate business students are now required to obtain Bloomberg Certification (IMPACT, ENGAGEMENT)

Expanded Social Enterprise Practicum, which pairs MBA students with local non‐profits to solve a business problem, from 1.5 credits to 3 credits. (IMPACT, INNOVATION)

Revamped EMBA program and began to incorporate flipped classroom model across a few courses to better leverage in‐class time. (INNOVATION)

II. Leverage VSB’s personalized approach to improve student academic achievement and career opportunities, while enhancing the caliber and diversity of our student body

Founded in 2015, the O’Donnell Center for Professional Development provides a multitude of professional development activities that serve to enrich students’ academic experiences and prepare them for success in the profession of their choice. (ENGAGEMENT, IMPACT)

The Clay Center serves undergraduate students through academic advising and high‐quality co‐curricular programs. The highly personalized advising model has been improved through an increase in staff count. (ENGAGEMENT)

The VSB Mentor Program was piloted in the 2013‐14 academic year and pairs VSB sophomore students with VSB alumni volunteers to provide an opportunity for the exchange of ideas and information about professional, interpersonal, and career‐related issues, as well as to build a bridge between the classroom and the business world. The mentorship relationship is designed to last for the rest of the student’s academic career. (ENGAGEMENT)

The Clay Center partners with the Office of Multicultural Affairs to support the St. Thomas of Villanova (STOVS) program to provide extra academic support to diversity students. Freshman students spend three weeks on campus in July during which they attend a non‐credit college prep math course, enroll in a credit‐bearing Microeconomics course, and participate in workshops on various areas of academic and social life on campus. Students connect with representatives from the program’s corporate sponsors through a career panel, networking receptions, an etiquette dinner, and the STOVS closing banquet. (INNOVATION)

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An Executive in Residence for the finance department was hired to act as an on‐site mentor for students exploring roles in finance. The position leverages business relationships to further goals of the finance department and career placement. The position also helps to manage and engage the Finance Department Advisory Council, and liaises with student societies to help them elevate program offerings. (IMPACT, ENGAGEMENT)

Our undergraduate students have a 98.5% post‐graduation placement rate. Please see Appendix 1 for undergraduate outcomes data. (IMPACT)

III. Recruit, retain, and support a world‐class, intellectually‐curious faculty, that demonstrates the desire to integrate current research, business practice, and the transmission of knowledge, within a student‐centered, supportive, learning environment

Hired 14 Tenure‐Track and Continuing Non‐Tenured faculty to replace retiring faculty

Increased number of elite publications (see Intellectual Contributions section) (ENGAGEMENT)

Fundraising to support faculty initiatives enabled VSB to (INNOVATION, IMPACT): o Increase summer research support o Name endowed assistant professors o Create an additional endowed chair position o Offer scholar awards to recognize productive faculty o Expand research awards

Created a comprehensive Faculty Policy Book (see Appendix 5) IV. Identify emerging business opportunities and trends, that build upon VSB’s distinctive competencies, in order to pursue new educational programs

In 2009, the Villanova MBA expanded its Fast Track offering to include a location in Center City Philadelphia. This program is in high demand every year, and due to its popularity, Flex Track MBA courses are now regularly offered there as well making both programs more accessible to students in the Philadelphia, south New Jersey and Delaware markets. (INNOVATION)

Beginning with the 2017‐2018 academic year, the Graduate Tax Program plans to offer new certificate programs including tax technology and analytics, and state and local taxation to accommodate the growing areas of demand and specialization within accounting firms. (ENGAGEMENT)

VSB secured two‐year partnership with Archdiocese of New York to offer an online cohort of ADNY parish leaders in its Master of Science in Church Management program. (ENGAGEMENT)

Expanded course‐sharing with other schools to diversify elective offerings for MBA. Partnerships

exist with nursing, communications, engineering and law.

Secured three‐year partnership with KPMG to offer a Master of Accounting degree with a focus on Analytics to new hires in their auditing practice. (ENGAGEMENT, INNOVATION)

Founded the Villanova Women’s Professional Network (VWPN), which now services the entire university population. The VWPN connects Villanova women, encourages their professional and personal development, and inspires them to succeed. (ENGAGEMENT, INNOVATION)

V. Increase local, national, and international visibility and awareness to improve VSB’s reputation and stature

VSB has performed well in recent rankings (IMPACT): o Bloomberg Businessweek (now discontinued): Ranked #1 in the annual undergraduate

business school ranking; ranked #12 for the semi‐annual Part‐Time MBA ranking

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o US News & World Report: Ranked #61 among undergraduate business schools; #39 among Part‐Time MBA programs; #10 among online specialized master programs

Improved media relations, achieving over 3,000 media hits and over 1 billion media impressions in just the past three years. (IMPACT)

Launched new graduate program marketing campaign to build brand awareness. (IMPACT)

Increased involvement in business school academic community through a faculty podcast series, which features VSB students interviewing faculty about their research. (INNOVATION, ENGAGEMENT, IMPACT)

Increased VSB sponsorships to improve visibility. Examples include sponsorship for the Academy of Management conference, AACSB conferences, and the Mid‐Atlantic Research Conference in Finance (hosted at Villanova). Departments and Centers of Excellence host and sponsor Seminar Guest Speaker Series, programs and events by Centers, sponsorship of faculty to present at major conferences, Real Estate case competition (hosted at Villanova), and sponsoring students to compete in case competitions. (ENGAGEMENT)

VI. Increase funding resources in order to successfully pursue our strategic priorities.

Successfully added three new online degree program offerings: The Master of Science in Analytics, an online version of our Master of Business Administration program and the Master of Taxation, both featuring the same curriculum and faculty as our face‐to‐face offerings. (IMPACT & INNOVATION)

Restructured the development function and significantly increased fundraising success. (INNOVATION)

o Received $50m gift—the biggest in the University’s history—to support the student experience.

o Received 16 additional $1m+ gifts over past five years to fund various strategic initiatives, including facility upgrades and faculty support.

Expanded advisory councils by adding a Finance Department Advisory Council and rebranding the Center for Marketing and Consumer Insights. Advisory councils are comprised of alumni and stakeholders, and members pledge financial support for three‐year terms. (ENGAGEMENT)

More holistically engaged undergraduate and graduate alumni through: o VSB Connect, a personalized online networking site: https://vsbconnect.org/. For a sample

view of this tool, please see Appendix 1. (ENGAGEMENT) o Support for a graduate business staff person to oversee graduate alumni associations and

alumni engagement. (ENGAGEMENT)

II. SITUATIONAL ANALYSIS What historical, national, local, and other factors shape the applicant’s mission and operations?

VSB’s mission aligns closely with the University mission, which is deeply embedded in the University’s

historical, Catholic context. Villanova University is a Catholic, Augustinian community of higher education,

dedicated to the excellence and distinction in the discovery, dissemination, and application of knowledge.

Students learn to think critically, act compassionately, and succeed while serving others. Rooted in the

liberal arts, Villanova prepares students to become ethical leaders who create positive change everywhere

life takes them.

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The VSB mission is also influenced by the current business environment, which is operating in a data‐rich,

multi‐faceted, cross‐functional, and global context. VSB prepares students to join a workforce and market

that recognizes and values the importance of business ethics and social responsibility. This environment

necessitates innovation balanced with a cross‐functional approach, to support sustainable and responsible

business practices.

VSB provides an educational experience that is personalized and holistic. The structure of the school is one

that fosters teaching quality and values student/faculty interactions. Excellence in teaching is a valued skill

that is evaluated before hiring, and with no PhD program, all VSB classes are all taught by professors

rather than graduate assistants. In addition to a strong academic experience, the undergraduate and

graduate program offices provide top‐notch services to help students navigate their educational careers,

and to help them become career‐ready through access to a variety of internships, programs and job

opportunities.

Faculty scholarship has become an increasing focus for the school and the university. Over the past several

years, the school has supported more endowed chair positions, research support programs, and course‐

release opportunities to increase faculty productivity and to recruit tenure‐track scholars with strong

research potential. In 2015, the University appointed its first‐ever provost. Under the Provost’s direction,

the Associate Vice Provost for Research and the Associate Vice Provost for Teaching and Learning were

created to advance and support faculty and student research, as well as excellence in teaching and

learning. These structure changes were, in part, driven to support The Carnegie Foundation’s elevation of

Villanova’s classification to the Doctoral Universities category. These leadership changes align with VSB’s

continued dedication to increasing research productivity.

Undergraduate admissions are centralized, and while the University continues to attract a large student

base from the northeast corridor, the recent shift in the University’s Carnegie Classification echoes an

increased national awareness of our programs. At the graduate level, VSB competes in the large but

competitive Philadelphia market. Because our programs are primarily part‐time and geared towards

working professionals, the curricula and services are uniquely tailored to support this type of learner.

Market trends toward flexibility and niche program offerings lend themselves well to VSB’s core strengths.

To increase market awareness and access, VSB launched a center city campus for our MBA program, as

well as two additional online degree program offerings: an online version of the MBA program, and a new

Master of Science in Analytics program. While our graduate programs continue to attract a local audience,

these programs gives us access to prospective students who live and/or work in the city, in the Lehigh

Valley, in New Jersey, and in Delaware, who would not otherwise travel to the suburbs for classes.

What are the applicant’s relative advantages and disadvantages in reputation, resources, sponsors, and supporters? What internal, environmental, or competitive forces challenge the school’s future?

Lack of competitive endowment. According to The Chronicle of Higher Education1 Villanova University’s

endowment is ranked at 158 (previously 183) among colleges and universities in the United States and

Canada. Direct competitors (Georgetown, Boston College, Wake Forest, Notre Dame, Lehigh) all fall in the

top 80, whereas Villanova University is a relatively tuition‐driven organization. A $600 million fundraising

campaign—the most aggressive campaign in the university’s history—will significantly bolster our

1 “Sortable Table: College and University Endowments, 2014-15.” The Chronicle of Higher Education (January27,2016).http://www.chronicle.com/article/Sortable-Table-College-and/235074

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reserves, but we will still be behind our close competitors. Our ability to offer merit and need‐based

scholarships, attract a culturally and socio‐economically diverse student body, make capital investments,

and hire and retain competitive and diverse faculty and staff is hindered by this lack of endowment.

Lack of Facilities. The last major renovation to the Business School occurred in 2001. Though recent renovations funded by donors have improved parts of the building, the overall space does not compare favorably to competing school facilities. There are no offices available to house new faculty, classrooms are at a premium and most need refurbishing, and the building offers little in the way of event or large meeting space. VSB’s Applied Finance Lab offers state‐of‐the‐art financial research resources but the space itself is limited, with only 24 Bloomberg terminals. Compared to our top business competitors, Bartley Hall is a functional space for these students’ needs, but does not reflect the reputation and rigor that our students are coming here for. Faculty Resources. Salaries tend to lag our competitors. VSB offers summer research support, and though we have increased the dollars allocated every year, we are still not able to offer competitive summer research support to our tenured faculty. While we provide new tenure‐track faculty with up to four years of 2/9 summer support, the summer research program cannot provide faculty the same level of support beyond year four. VSB very rarely loses full‐time faculty members after hire. However, the lengthy tenure of our faculty has contributed to significant salary inversion issues as faculty raises have generally not kept pace with market compensation. Although the University is working on a more systemic approach to this problem, VSB fundraising helps to offset this expense in the short term.

Reputation, Rankings, and Student Diversity. VSB boasts a strong regional and growing national

reputation for its student‐centered approach, innovative and applied curricula, and high‐caliber faculty.

Recent performance in various rankings has helped significantly to boost VSB’s reputation; however, the

ranking landscape is ever‐changing, and many schools are becoming more vocal about the arbitrary nature

of various methodologies applied to measure quality (see appendix 2 for recent ranking performance).

Rather than rely on rankings to gain recognition, VSB has shifted focus to communications and marketing.

The marketing function, which used to be housed within the Graduate and Executive Business Programs

office, was centralized to the school level to ensure brand consistency, and to leverage efficiencies

wherever possible. Funding to support added staff count and the use of student workers helped to

increase media coverage. During the past twelve months alone, VSB has achieved over 2,000 media hits

and over 2.5 billion media impressions (see appendix 2 for summary of media hits). This has included

prestigious outlets like Forbes, Associated Press, CNN, NPR, Reuters, Bloomberg Businessweek, ABC News

and The Wall Street Journal. Recently, the VSB marketing team partnered with the graduate business

admissions staff to launch a new graduate program branding campaign, around the theme, “Part of

Something Bigger.” The campaign capitalizes on our outstanding part‐time programs for the working

professional (see Appendix 5 for sample ads).

Villanova University’s strong Catholic tradition has tended to attract students of European Catholic descent, a less diverse group than many competitive schools. The high cost of Villanova tuition—combined with comparatively low financial aid offerings—has also led to low socio‐economic diversity. The perception that Villanova is less diverse than the world in which it operates is a concern because company recruiters are looking to other universities to find diverse candidates. This, in turn, hurts the University in attracting diverse students and faculty, who are looking for a robust multi‐cultural environment.

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As of the 2015‐16 academic year, 24.5% of the entire Villanova student body is in a racial/ethnic category

other than white, non‐Hispanic (this includes nonresident aliens and excludes “race/ethnicity unknown”).

In VSB, 21.5% of our graduate population are racially/ethnically diverse, and 21.3% of our undergraduate

students are racially/ethnically diverse. These numbers have been relatively stable over the past four

years (see Appendix 2). We are seeing a trend up for the percentage of women enrolled in our programs,

at both the undergraduate and graduate levels. In 2015‐16, 41.3% of undergraduate students were

female, and 34.3% of graduate students were female (see Appendix 2 for Student Diversity 2012‐2016).

To ensure students develop a global and multi‐cultural mindset, VSB uses the curriculum with study

abroad and service learning offerings at all levels. 54% of the VSB undergraduate program students study

abroad at least once during their academic careers, and all of our MBA offerings include a Global

Practicum experience, with the option to travel abroad. Further, all MBA offerings also include a Social

Enterprise practicum in which students partner with a local non‐profit organization to provide business

solutions. With the new Diversity and Inclusion Task Force created in fall 2016, VSB will seek ways to

further diversify the curriculum content.

Direct Degree Enhancers. The Clay Center and the recently named O’Donnell Center for Professional

Development serve the VSB undergraduate population by providing a wide range of VSB support services

in a single “one‐stop‐shop” resource center. Services include academic advising and guidance, career

development assistance, an alumni mentorship program, internship referrals, referrals for health and

wellness services, support in cases of family emergency, and services related to freshman orientation and

the adjustment to college life. The Clay Center also serves as a centralized point of contact for parents of

undergraduate students who need information and guidance on issues related to their child’s experience

at VSB.

The Graduate & Executive Business Programs office serves the graduate population, and has recently

expanded its services and staff count to provide a higher level of personalized service for academic

advisement, career development, curricular programming, alumni connectivity, and co‐curricular events.

The staff also invites student input through student‐run Quality and Innovation Committees, and oversees

the Graduate Business Student Association, a student‐run organization.

VSB Advisory Councils. VSB has a total of nine advisory councils comprised of approximately 200 high‐

level executives (see Appendix 2). In addition to the Dean’s Advisory Council, six councils are connected to

the academic centers of excellence, one to the accountancy department, and one to the finance

department. VSB advisory councils provide guidance on strategy, curricula, student initiatives, graduate

program recruitment, stakeholder engagement, reputation, and external outreach. Advisory council

members are also quite helpful in assisting the school with strengthening corporate ties for increased

student internships and jobs. For the past seven years, VSB has hosted a Business Leaders Forum to bring

all advisory council members together for idea‐sharing, networking and a symposium around a current

topic or business trend.

Fundraising. Over the past five years, VSB has raised an unprecedented amount of money from alumni

and stakeholders. As part of the University‐wide $600 million comprehensive campaign, VSB has raised

$118 million to fund our strategic platforms, $107 million of which were raised in the last five years alone.

What opportunities exist for enhancing the applicant’s degree offerings?

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There are opportunities for VSB to expand enrollment in existing graduate degree programs, and also to improve the level of service offered in them. In the short term, most programs have bandwidth that would allow increases in enrollments without increasing the number of sections. For example, the Master of Science in Finance degree enrollment could be raised to 35, without increasing the number of sections or substantially increasing staff workload. This is indicative of several of our graduate degree offerings.

SCOPE OF ACCREDITATION

PROGRAM Foundation # Graduates Location

Bachelor’s Degree, Business Administration 1922 470 On‐campus

Master of Business Administration

Flex: 1983 113 On‐campus

Fast: 2003 69 On‐campus/ Philadelphia

Online: 2014 0 Online

Executive MBA 2000 29

VU Conf. Center

Master of Accounting and Professional Consultancy 2001 21 On‐campus

Master of Taxation 1980 26

On‐campus or online

Master of Science in Finance 2005 22 On‐campus

Master of Science in Analytics 2014 15 On‐campus

Master of Science in Church Management 2006 4 Online

III. PROGRESS UPDATE ON CONCERNS FROM PREVIOUS REVIEW 1. Regarding the deployment of faculty resources across the Finance program, the School should take actions to ensure that appropriate AQ and PQ percentage ratios are met. This is especially important in light of the School’s MS Finance program (Standard 10: Faculty Qualifications). During the previous review period, the finance faculty fell below the standards in terms of AQ and PQ percentages with respect to the percentage of non‐qualified faculty (i.e. those that were not AQ or PQ). While some of that was due to the unfortunate death of a senior faculty member (with AQ status), we have instituted some changes to remedy this concern. There were five finance faculty members who were not in the AQ or PQ category during the last review. Three of them were full‐time faculty and two were part‐time. The two part‐time faculty no longer work for the university. Each of the three full‐time faculty members have worked to become qualified and have achieved qualification. They have achieved this by a combination of additional publications and qualifying activities. Further, full‐time faculty who retired or left were replaced with active scholars who hold PhDs. Since 2012, VSB has welcomed six new finance faculty members. As will be discussed in more detail later in the report, we have achieved the appropriate faculty qualifications given the new standards that were recently adopted by AACSB. As can been seen later in Exhibit 7B, the finance department is 56.9% Scholarly Academic, 8.5% Practice Academic, 7.9% Scholarly Practitioner, and 23.6% Instructional Practitioner. Only 3.1% of our finance courses are taught by instructors in the “other” AACSB qualification. Thus, our finance faculty have more than exceeded each of the AACSB requirements concerning faculty qualification.

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At the program level, the Master of Science in Finance program also exceeds the AACSB requirements for faculty qualification. The courses in that program are taught by 64.9% Scholastic Academics, 2.7% Practice Academics, 8.1% Scholastic Practitioners, and 24.3% Instructional Practitioners. All faculty deployed in this program meet one of the four AACSB classifications. 2. The School should work toward developing a financial and succession plan to address near‐ retirement age faculty so that resources will be available to hire faculty to replace those that are leaving the University (Standard 5: Financial Resources). Faculty retirements are a concern across the business school landscape. We have made some strides with respect to this issue since the last review period. It is still the case that the salary and support gaps between retiring and new faculty are funded by the School. From a fundraising and program perspective, the School is in a much better position than during the time of the last review. We have been successful in our masters programs including the successful launch of two new online programs. These programs have generated revenue to help support the financial gaps in hiring new faculty. In addition, the school has received significant support from donors to help support the needs of the school. While most of this fundraising is not for direct faculty support, it provides budget relief so that funds normally spent elsewhere can be used to support faculty. Prior to the next review cycle, the School should address the following concerns: 3. It is recommended that the School review its current AQ definition to ensure that it reflects an institution with significant graduate programs. Currently, it is possible for a faculty member to be classified as AQ with as little as one publication on any of the first three levels of the School’s journal lists (Standard 10: Faculty Qualifications). We have made great strides with respect to faculty qualifications since the last review. We have a much more qualified faculty in terms of AACSB qualifications in general. The new AACSB standards were helpful as we considered the appropriate activities for each category for VSB. We undertook a significant process to adopt new standards. This process involved the senior leadership as well as all faculty. The new standards for VSB were drafted and were discussed at length in open faculty meetings in a very inclusive process. The result is that we have adopted AACSB qualifications that we believe fit our School and University. Specific to this concern was the potential for a faculty member to achieve AQ with one publication on the school’s journal list. In our new definitions, we have come up with higher standards that we believe exceed the old definitions. For instance, to classify as Scholastic Academic, a faculty member must publish at least one top or next tier, two acceptable alternatives, or three peer reviewed journal articles. We believe this change, along with the new standards, have helped us satisfy this concern. 4. In order to ensure that all Villanova School of Business students have the benefit of being taught by participating faculty, the School should continue to focus on the deployment of participating faculty across all programs to maintain its quality aspirations (Standard 9: Faculty Sufficiency). We continue to focus on deploying faculty across all program that participate in the mission of the school. During this review period we have met the standards from this perspective. Across all programs, 83.4% of credits were taught by participating faculty. In addition, our undergraduate, MBA, and specialized masters programs deploy 89.8%, 67.4%, and 76.4% participating faculty, respectively. 5. As the School continues with its Assurance of Learning system, the School should consider reviewing the rigor of the rubrics used to measure student outcomes across all programs, paying particular

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attention to the graduate programs. In addition, when there is a learning goal related to Communication Skills, it is not uncommon to see a measurement related to oral communication skills (Assurance of Learning Standards: 16, 18, and 19). Over the past five years, VSB has made considerable progress in creating a more integrated, sustainable and rigorous Assurance of Learning process. All learning goals and rubrics for both undergraduate and graduate programs were reviewed in 2012, and new assessment plans were mapped by curriculum committees in the following year. In 2012, a staff position was added to specifically help support the assessment process. In 2015 a faculty director of assessment was appointed to help with deployment and data collection. In regard to assessing oral communication, this skill was added to the undergraduate Communication Skills learning objective. The Backpack to Briefcase curriculum has a specific element to train students on how to effectively communicate strategic business recommendations. Students put this skill to the test during an internal case competition, in which each student must present an element of a business case to a panel of professional judges, and also prepare a written executive summary. Please see the Learning and Teaching section for more information regarding VSB’s Assurance of Learning process.

IV. STRATEGIC MANGEMENT PLANNING PROCESS AND OUTCOMES MISSION STATEMENT AND SUMMARY OF STRATEGIC PLAN/FRAMEWORK

Mission of the Villanova School of Business

The Villanova School of Business (VSB) seeks to be a leader among business schools in fostering a learning

environment that enables students and other members of our community to develop the knowledge,

experience, values, and capabilities needed for a lifetime of learning. Strengthened by our Catholic and

Augustinian traditions and liberal arts foundation, we strive to collaborate with the business and academic

communities—and all relevant stakeholders—to create, share, and apply knowledge that connects theory

to practice. VSB’s holistic approach encourages students to explore the interconnected nature of business

disciplines and to shape innovative and strategic solutions that address contemporary business problems.

The VSB community will maintain and enhance its commitment to an environment of mutual respect,

professional development, and continuous improvement.

Vision

To create a learning environment unprecedented in the world of business education, one that transforms

lives, positively impacts society, nurtures creativity, assures an analytical approach, provides a global

perspective, and develops ethical leaders.

Strategic Platforms

VSB’s strategic plan is the intersection of our unique and holistic approach to business education and what

makes a business school great. We will achieve it through the following strategic platforms:




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IV. Identify emerging business opportunities and trends, that build upon VSB’s distinctive competencies, in order to pursue new educational programs


VI. Increase funding resources in order to successfully pursue our strategic priorities. Fundraising/entrepreneurial

STRATEGIC MANAGEMENT PLANNING PROCESS AND OUTCOMES

PROCESS: Updating the Strategic Plan. As chronicled below, in 2007 VSB began a process designed to

solicit the input of faculty, staff, students and the School’s outside business advisors to update the

School’s mission, vision and strategic plan.

» Fall 2007 – Faculty Development Committee (FDC) was created to establish best practices relating to the

development and management of the faculty.

» 2008 – Strategy Steering Committee (SSC) comprised of faculty and staff examined the findings of the

Faculty Development Committee and began to develop strategies around identified themes (pillars) of

ethics, globalization, technology and innovation.

» 2009 – The dean at the time held a series of four retreats with various constituents, the first with the

associate deans and department chairs to organize information collected by the FDC and SSC. During a

second retreat, situational analysis teams presented their recommendations to the Dean’s leadership

group, which were used to refine the School’s strategic options. The Dean held a third retreat to review

the School’s proposed vision and strategy. Six strategic platform teams were created to refine the

strategic platforms and initiatives, and to develop action plans. They presented recommendations to the

Dean’s leadership group, which were the basis for the final vision and strategy. Before being finalized, VSB

leadership collected feedback from the Dean’s Advisory Council and the general faculty.

» March to May 2010 – VSB’s Strategy Steering Committee used the comments and suggestions from the

meetings with the faculty to further amend the draft.

» May 2010 to April 2011 ‐ VSB Steering Committee modified the draft to be consistent with the

University’s newly created Strategic Plan. VSB published the final draft of its mission, vision and strategic

platforms.

» September 2011 – VSB revised its mission, vision and strategic platforms were adopted by VSB.

» December 2012 – Revised program goals and objectives to align with strategic platforms, and

established fundraising priorities including faculty initiatives, the Dean’s Fund for Strategic initiatives

(DFSI), Centers of Excellence, and facility improvements.

» April 2014 – Reorganized and expanded the development and advancement function to support VSB’s

Capital Campaign goal, and to support DFSI. Formalized relationships between Centers of Excellence and

Development Office to raise funds to support their initiatives, and to source new members.

» 2015 – Marketing and Communication function expanded to increase national awareness of brand and

to promote VSB’s strategy with all faculty and staff groups. Data will be used in the spring and summer

2017 for work on revising the strategic plan to create stronger “niche‐branding” across VSB’s programs.

» Fall 2016 – Data collection, focus groups and interviews by the new dean, Dr. Joyce Russell.

Strategic Platform Outcomes

The Executive Summary provides an overview of accomplishments we’ve made across our platforms over

the past five years.

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Strategic Ideas:


o Consider alternative models for our specialty master’s programs that could increase sustained enrollment.

o Consider certificate programs in cross‐disciplinary areas such as cybersecurity, sustainability, etc.


o Improve professional development and career advising for graduate students. o Add academic and career advisors to undergraduate team.


o Continue to recruit well‐qualified full‐time faculty o Continue to seek new sources of revenue to fill the gap with replacing retiring faculty and

current salary needs. IV. Identify emerging business opportunities and trends, that build upon VSB’s distinctive

competencies, in order to pursue new educational programs o Successfully launch and grow KPMG partnership program to offer a Master of

Accountancy with an analytics focus o Become a thought leader in the area of accounting and analytics


o Marketing/Communications: continue to increase media hits and visibility through both

professional and business school‐oriented conference presentations. Outlets include

AACSB, GMAC, NUBS, etc.

VI. Increase funding resources in order to successfully pursue our strategic priorities. o Raise funds for additional Endowed Professor positions, and other faculty support for

tenure‐track, tenured and professional faculty. o Raise funds to support facility improvements (e.g. classrooms, study space, finance lab,

behavioral lab, and media lab) o Ensure that all Centers and Departments have appropriate Advisory Councils that can

serve as an informational resource and provide funding.

INTELLECTUAL CONTRIBUTIONS

As illustrated in Table 2‐1 in Appendix 4, 81% of our full‐time faculty and business fellows have produced

intellectual contributions across a range of contribution types. There may be an opportunity to increase

teaching and learning scholarship, since much emphasis is placed on the quality of teaching our students

receive. Encouraging this type of research could provide opportunities for continuing non tenure‐track

faculty to have research outlets more closely related to the expectations of their important role within the

school. The implementation of a comprehensive talent management system and the creation of a faculty

policy book both support efforts to enable faculty to regularly produce intellectual contributions,

particularly in peer‐reviewed journals. Refer to Participants section for policies that guide, and the

infrastructure that supports, faculty in the production of intellectual contributions.

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VSB takes into consideration several measures of impact to evaluate the reach of our intellectual

contributions. Internally, faculty publication outlets are ranked according to VSB’s journal list (see

appendix 2 for journal list). Overall, faculty publication productivity and quality have improved in this five‐

year cycle, across all levels of publication. Exhibit 4A below shows that top tier publications are up 24%

from the previous five‐year cycle, and overall peer‐reviewed publications are up 39%. In considering how

the body of work our faculty produces impacts the academic world, we analyzed the h‐indexes for our

tenured and tenure‐track faculty members. The average h‐index for our tenured and tenure‐track faculty

is 5.5. Exhibit 4B below shows the h‐index breakdown by department. Lastly, when considering the impact

of research on the general population prospective students, and alumni, we look to the media. Our faculty

were featured in 418 stories, producing nearly 3,000 media hits in syndication in the past three years.

Publications include the Wall Street Journal, CNBC, USA Today, NBC News, U.S. News & World Report,

Forbes, Reuters, CNN Money, The Washington Post, The Economist, and many more. See Appendix 2 for

VSB’s comprehensive media report.

Exhibit 4A

H‐index by Department

Accounting & MIS 4.17

Economics 3.38

Finance 3.5

Management & Operations 8.93

Marketing & Business Law 7.54

TOTAL Average 5.53

Exhibit 4B

0

50

100

150

200

250

Top‐tier Next‐tier Acceptable Alt Other

Faculty Publication Trends

AY 2007‐2011 AY 2011‐2015

15

$17,366,626

$17,912,747

$10,783,579

$2,136,631

Fund Sources

University Funded Faculty, Staff, and Operating Expenses

Entrepreneurial Gross Revenue

Gift Funds

Endowment Funds

13,514,900

2,417,774

$309,617

$1,062,230 $334,961$1,510,369

$3,737,072

$7,917,750

$4,232,368

$1,965,377

Fund Uses (detail)

Univ. Funded Faculty Salaries

Univ. Funded Staff Salaries

Univ. Funded Student Services

Univ. Funded Non‐Salary Expenses

Entrepreneurial Funded Faculty Salaries

Entrepreneurial Funded Staff Salaries

Entrepreneurial Funded Non‐Salary Expenses

Single Entrepreneurial Payment to University

Gift Funds

Endowment Funds

Exhibit 4D

FINANCIAL STRATEGIES AND ALLOCATION OF RESOURCES

The Villanova School of Business (VSB) is responsible for the creation and management of revenue,

operating, capital and salary budgets throughout the fiscal year. In cooperation with the central university

budget office VSB prepares financial models to reflect strategic initiatives. VSB updates budget projections

quarterly to identify anticipated variances. VSB works with the university’s human resource department in

order to properly manage the replacement or addition of staff and faculty.

Fund sources generally come from four buckets: university funding, entrepreneurial program revenue, gift

funds, and endowment funds. After paying for expenses, remaining entrepreneurial profits and

fundraising dollars are budgeted in support of strategic platforms (see Exhibits 4C and 4D below). Exhibit

4E provides a high‐level summary of recent initiatives and which strategic platform each initiative aligns

with (see page 12 for strategic platforms). Following the chart are brief descriptions of each initiative.

Initiative Initiative Type Start Date First Year Cost or

Revenue Continuing Annual Cost or

Revenue Source of Disposition of Funds

Exhibit 4C

16

III Faculty Support

Endowed Chairs (1)

Contractual Support

New faculty lines (1)

Dept. Advisory Council (Finance)

2015

2012

2015

2013

2014

$220,000

$140,000

$82,000

$70,000

Revenue: $30,000

$225,000

$300,000

$84,000

$80,000

Revenue: $77,000

University/endowment

Discretionary

University

Entrepreneurial/Disc.

Departmental funds

VI Entrepreneurial Programs

Online MBA

Online MSA

Fall 2014

Fall 2014

Cost: $450,000

Revenue: $665,000

Cost: $315,000

Revenue: $247,000

Cost: $1 million

Revenue: $1.9 million

Cost: $550,000

Revenue: $820,000

Entrepreneurial funds

Entrepreneurial funds

IV Centers of Excellence

Staff Directors

Scholarships

2012

2014

$140,000

$40,000

$170,000

$300,000

Center funds/fundraising

Fundraising

II, V Facilities

Classrooms (4)

Study Rooms (5)

Exchange

Technology Center/Media Lab

2014

2014

2016

2014

$125,000 per

$30,000 per

$2 million

$200,000

N/A

N/A

N/A

N/A

Discretionary/fundraising



University/fundraising

I, II Student Support

Undergrad Advisors (3)

O’Donnell Center

2014

2015

$150,000

$75,000

$160,000

$145,000

University/fundraising


V Marketing/Communications

Increased budget

New Staff

2014

2015

$269,000

$50,000

$335,000

$52,000

Discretionary

University funds

Exhibit 4E

Faculty Support. Over the past five years, VSB has secured funding for an additional endowed chair,

bringing VSB’s total to five. Contractual support in the form of summer support and course releases has

increased, and the university granted one new faculty line to the Economics department to help support

Economics courses offered to Arts and Sciences students. Additionally, the school has funded visiting

instructors in Accounting, Economics, Finance and Marketing through entrepreneurial and discretionary

funds to help lighten the teaching burden on our full‐time faculty, allowing us to offer competitive

packages to new tenure‐track faculty. These visiting instructors teach a 4‐4 load and are well‐qualified

instructors—often with PhDs—who engage in the life of the school, but do not hold a faculty line. While

they only receive one‐year contracts, many of our visiting faculty have been with us for many years.

Entrepreneurial Programs. These self‐funded programs help to increase brand awareness, revenue, and

reputation for the school. Programs include the Summer Business Institute, the Fast Track MBA, the

Online MBA, the Executive MBA, the Master of Science in Finance, the Master of Science in Analytics, the

Master of Science in Church Management, and the Master of Accounting and Professional Consultancy.

Enrollment has been relatively stable across our portfolio of program offerings. See appendix 5 for

admissions trends.

17

Centers of Excellence. In the past five years, our Centers of Excellence have continued to build upon

research output, fundraising, events and student resources, employer relations, and curricular

innovations. To support these continuing initiatives, each Center now has at least one faculty director as

well as staff support (usually in the form of a staff Center director). Below is a list of VSB’s Centers of

Excellence. More information about the centers can be found in Appendix 2.

Daniel M. DiLella Center for Real Estate: supports advancing scholarly research, teaching, curricular

innovation, and business leadership excellence in the area of real estate.

Center for Business Analytics: helps students develop analytical capabilities and supports our cross‐

disciplinary faculty to become recognized for excellence in analytics education, practice, and research.

Center for Global Leadership: promotes the guiding principles of cross‐cultural awareness, ethical

international business relationships, and responsible global leadership by offering educational programs,

research, and service and outreach activities.

Innovation, Creativity, and Entrepreneurship Institute: creates scholastic, educational, and professional

development opportunities in the areas of creativity, innovation, and entrepreneurship. This center

supports the entire University community, but was founded within the business school and continues to

partner with us.

The Center for Marketing and Consumer Insights: leverages the expertise of world class faculty at the

Villanova School of Business (VSB) and an advisory board of practitioners from leading corporations to

support initiatives that foster an unmatched student experience and also improve the science and practice

of marketing as it relates to the consumer experience.

Center for Church Management and Business Ethics: equips church leaders and their communities with

the training to apply sound business methods to Church decision making.

Student Support. The undergraduate advising model helps us to achieve the level of personalized service

that the market demands and that our strategic plan calls for. In support of providing excellent student

support, the undergraduate Clay Center team added three new advisors over the past three years.

In 2015, VSB received a $5 million commitment from James V. O’Donnell ’63 VSB and his wife, Charlotte.

The gift establishes the Charlotte and James V. O’Donnell ’63 Center for Professional Development in VSB,

which provides students more opportunities to interact with businesses, employers and recruiters, as well

as the Villanova alumni network. The Center hones leadership skills and prepares graduating students for

success in the business world and beyond. It also offers increased access to real‐world experience through

internships and co‐op programs. Additional information regarding VSB’s undergraduate advising model

and the O’Donnell Center for Professional Development can be found in the Section 5: Participants

section.

18

Facilities. Funded largely by donations (see Fundraising section below), VSB has successfully renovated the

following:

Four classrooms

Four study spaces

Technology Center and Media Lab

PwC Auditorium

Nydick Commons

The Curley Exchange

Marketing. Because our budget model relies, in part, on the success of our entrepreneurial programs, it is

important that we expand our brand awareness both regionally and nationally. The proliferation of online

programs further demands that we reach a more national audience to fulfill our enrollment goals. To

support our marketing efforts, VSB’s Marketing and Communications team was expanded in 2015 to

include a web designer, taking pressure off of other staff members to maintain the website, and also

providing a better browsing experience for our various stakeholders.

Fundraising

Over the last five years, as part of a University‐wide $600 million comprehensive campaign, VSB has raised

$112 million towards a goal of $125 million. VSB’s total raised as part of the campaign is $118 million. Our

fundraising priorities have lined up with the strategic initiatives of VSB, including increasing faculty

support, enhancing our facilities and technology, and supporting our centers of excellence. Our donors

endowed nine Assistant Professors, a Full Professorship and an Endowed Chair. In addition, multiple

teaching awards have been endowed. We have enhanced our learning facilities by renovating four

classrooms and an auditorium, building a technology center, and creating a better environment for

collaboration by renovating four study rooms and two of our signature spaces.

Our Centers of Excellence have received three naming gifts, and we also established the O’Donnell Center

for Professional Development, which will facilitate students’ successful transition from “backpack to

briefcase”, along with multiple other endowed funds which support their staff and programming. Most

importantly, we received a transformative $50 million commitment from alumnus Jim Davis that is entirely

focused on enhancing the student experience.

As we conclude our campaign, we are focused on increasing faculty and staff resources, and completing

the renovation of our facility. During this campaign our collaboration with University Advancement has

grown considerably, as our Dean’s Office and Advancement staff work ever more closely. As of December

2016, we now have three gift officers working to support VSB and the school’s strategic imperatives.

Looking forward to our next campaign, we will continue to match our fundraising priorities with the

strategic goals of the school. Exhibits 4F and 4G provide an overview of fundraising success.

4F: VSB’s Contribution to Villanova University’s Comprehensive Campaign

Year Total Cumulative

2008 $400,000 $400,000

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2009 $600,000 $1,000,000

2010 $3,000,000 $4,000,000

2011 $4,000,000 $8,000,000

2012 $2,700,000 $10,700,000

2013 $13,400,000 $24,100,000

2014 $67,900,000 $92,000,000

2015 $15,900,000 $107,900,000

2016 $6,600,000 $114,500,000

2017 $4,900,000 $119,400,000

4G: Five‐Year Trend

NEW DEGREE PROGRAMS

Master of Science in Analytics

A brief description of the employer or employment needs to be served by the program:

Technological advances in the recent past have allowed firms to amass large quantities of information

often referred to as “big data” that could serve as a source of competitive advantage to those who are

able to properly mine and analyze it. 85% of Fortune 500 companies have started big data initiatives, with

positions in this realm projected to grow at multiples of the national average of 14.3%. The program seeks

to provide a holistic perspective inclusive of courses on data management, business intelligence, and

predictive and prescriptive modelling and their application across all business functions.

A brief description of the intended student market:

The online MSA is intended to attract recent undergraduates with degrees in related fields such as

engineering, mathematics, statistics, economics, management information systems (MIS), computer

information systems (CIS), or information science, as well as career professionals currently working in, or

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

$80,000,000

2012 2013 2014 2015 2016

VSB FUNDRAISING

Fiscal Year Total

20

aspiring to secure a position in, the emerging field of analytics. The degree has the ability to draw students

from across the nation and around the world.

A description of the source(s) of faculty, technology, and facility support:

The Online MSA program is offered in partnership with a partner, Pearson Embanet, which offers a full

suite of services including assistance with marketing, recruitment, instructional design, faculty training,

and student support. This has resulted in the Graduate and Executive Programs office at VSB maintaining

the program with two dedicated positions: a Program Director and an Assistant Director. These two

positions also service the recently added online option for our MBA program.

The MSA program’s 11 courses are taught by faculty from the Departments of Management and

Operations and Accountancy and Information Systems at VSB and the Departments of Mathematics and

Statistics and Computing Sciences in the College of Liberal Arts and Sciences. Additionally, the University

Information Technologies department and the Library provide additional evening and weekend support to

service an expanded online population of students who often choose to complete assignments outside of

normal business hours.

A description of the learning goals, how the goals are measured, and the results that demonstrate

achievement.

Prior to launch, learning goals were established by the faculty members involved in shaping the

curriculum. The Online MSA program has adopted a similar Assurance of Learning model as other on‐

campus specialized masters programs, allowing easily digestible resulting outcomes. In fall 2015, the MSA

curriculum committee solidified the learning goals, objectives and performance indicators, and in spring

2016, an assessment plan began to take shape. The first two assessments took place in summer 2016. A

full cycle should be complete by summer 2017, at which point the MSA curriculum committee will review

all results and determine any necessary changes to the curriculum. A full curriculum map can be found in

Appendix 6.

MEASUREMENT STANDARD

For the performance measure of each goal, success is defined as 80% of students scoring a

minimum of 80% per performance indicator. Results reflect the percentage of students who

scored 80% or higher.

Because assessment questions are embedded within assignments, student scores on the specific

questions vary according to points as assigned by faculty.

PRELIMINARY ASSESSMENT RESULTS

Goal: Students can apply business analytics to generate sustainable and creative business solutions that

improve organizational performance.

Objective: To provide innovative solutions to organizational issues using analytics

Performance Indicators:

1. Identify an organizational issue.

2. Apply appropriate analytical tools to the issue.

3. Provide an innovative solution to the issue.

100% of students performed adequately in all three performance indicator areas. Overall performance at

the objective level was 100%.

21

Goal: Students can model and solve complex business problems using analytical techniques

Objective: To apply optimization modeling to analysis to model and solve business problems and report

results.

Performance Indicators:

1. Apply an optimization model and analysis to model a business problem.

2. Using above analysis, describe results.

92% of students performed adequately on the first performance indicator; 16% performed adequately on

the second indicator. Overall performance at the objective level was 80%.

V. PARTICIPANTS FACULTY SUFFICIENCY AND DEPLOYMENT/FACULTY MANAGEMENT AND SUPPORT

Faculty Management and Support

Faculty at VSB are organized into five departments: Accountancy and Information Systems, Economics,

Finance, Management and Operations, and Marketing and Business Law. The number of full‐time faculty

in departments ranges from 17‐25 including tenure‐track, tenured, and continuing non tenure track. Each

department is led by a department chair who is recommended by the department tenured and tenure‐

track faculty and appointed by the Provost for a three‐year term. The department chairs report to the vice

dean who reports to the dean. There is a high degree of collaboration among the department chairs, the

vice dean, and dean. As of November 2016, an Associate Chair position was also created for departments

due to the heavy burden of administrative work required of the department chairs. This new position was

carefully defined by the group of department chairs, vice dean, and dean. The first implementation took

place in the Management and Operations department, and the Accounting and Information Systems

department, with a subsequent roll‐out in Marketing and Business Law, as well as Economics in Spring

2017.

In addition to the traditional structure of the academic departments, a subset of faculty are also affiliated

with our Center of Excellence. The centers provide three primary benefits to VSB. First, through their

advisory councils, they provide an opportunity for VSB to engage with business leaders who can provide

insight into current industry trends and how we can best prepare students for the workforce. Second, the

centers also provide an opportunity for faculty to conduct real‐world research. Many of the centers have

faculty participants across multiple departments. Finally, the advisory council members in each center

provide philanthropy to support many center activities that have a positive impact on students and

faculty. Without this support many of the initiatives would not be possible. Each center is led by a faculty

director and in some cases also a staff director (based on funding). The centers also engage industry

leaders to help create employment opportunities for students.

There is a substantial committee structure within VSB (see appendix 5 for a list of committees). The

committees are charged with providing recommendations on a wide range of issues from curriculum to

facilities, from community building to corporate relations. Each year, the dean, vice dean, and department

chairs collaborate on the committee membership. In fall 2016, the committees were revised and the

process for membership was also modified to allow all faculty and staff to provide their preferences for

committee service.

22

Faculty Recruitment

The department chair in each department is primarily responsible for faculty recruitment according to

university policy (see appendix 5 for faculty recruitment guidelines). In general, when a new faculty line is

assigned to a department, the chair of that department organizes a search committee who is responsible

for initial review of applicants and interviews appropriate candidates at an appropriate professional

conference. The search committee determines the finalists who are to be brought in for a campus visit.

During the campus visit, candidates meet with several faculty as well as the vice dean and dean. They

present their research to the department and also teach a class of students. After the visit, the

department votes for acceptability of candidates and makes this information available to the dean who

has final decision.

Every effort is made to provide a salary and support package that is competitive with the market. In most

cases, we are not able to provide sufficient salary based on budgetary constraints. However, the support

and benefits are much more competitive. VSB provides a minimum of three years of 2/9 summer support

to tenure‐track faculty and a possible 1/9 in the fourth year upon successful 3rd year review. In addition,

new faculty are provided with a 2‐2 teaching load (and possibly reduced first‐year load), a graduate

assistant, relocation reimbursement, a house hunting trip, and adequate conference travel support. The

university provides a junior sabbatical (one semester) during the fourth year upon a successful 3rd year

review.

Faculty Mentoring

Mentoring of new faculty has traditionally been the function of department chairs, the Teaching

Committee (that performs developmental (and later evaluative) reviews of teaching), and an informal

process whereby senior faculty members engage newer faculty colleagues in their department.

On the teaching side, the VSB Support for Teaching Excellence Program (VSTEP) is designed to develop and

enhance quality instruction in our undergraduate and graduate business programs. The goal is to build a

community where colleagues can share teaching experiences and learn from one another. The program is

led by a senior faculty member (teaching mentor) who has won several teaching awards. The program

allows any faculty member of any rank to voluntarily ask for feedback of their teaching through classroom

visitations. A faculty member who participates is observed periodically over a year‐long period. After each

visitation the faculty member meets with the teaching mentor to discuss strengths and weaknesses in a

non‐threatening, helpful manner. A second option for faculty in the VSTEP is to observe another faculty

member’s class. Each year, a note is sent to all VSB faculty in order to solicit volunteers to a program

called Open Classroom (a part of VSTEP). When a faculty member volunteers for open classroom, they

agree to allow any faculty member in the VSTEP to observe their class (at a time mutually agreed upon in

advance). They can volunteer for one class or up to an entire semester. Each year a number of VSB faculty

volunteer for Open Classroom with the goal of sharing teaching ideas and experiences with one another to

enhance the quality of their instruction and the learning of their students.

There are also University resources available through the office of the Villanova Institute for Teaching and

Learning (VITAL) which puts on workshops and houses resources related to pedagogy. Certainly, VSB has a

culture that values teaching and community, however, recent growth in the total size of the faculty and

23

the growth in the use of adjunct faculty teaching in evening programs and at the new Center City

Philadelphia campus have provided an imperative to develop a more formal and effective system of

mentorship. Beyond teaching, there is also a need to on‐board these new members of the community in

ways that reinforce VSB values and that make newer members feel welcome and comfortable.

Evaluation of Faculty

Faculty are evaluated for merit and for promotion based on the traditional areas of teaching, research,

and service. For merit increases, an annual review meeting is held wherein the five department chairs, the

vice dean, and the dean discuss the inputs for each area of evaluation and reach consensus on a 1 to 5

rating scale for each faculty member. The annual review meeting allows for each department chair to

provide important details with respect to a faculty member’s performance and to provide consistency

across departments. Teaching is evaluated based on several factors, but is anchored in a student

evaluation instrument, the CATs report. Key elements include student perceptions of learning, intellectual

stimulation, level of rigor required, and general quality of instruction. Research is evaluated based on the

five‐year point total as well as number of highly placed publications in academic journals according to the

VSB journal lists. Service is evaluated based on a comparatively subjective assessment of contributions

within the department, college and university and in the profession.

The faculty are governed by a set of policies and guidelines that reside in the faculty handbook (see

Appendix 5). The handbook covers teaching loads, research evaluation, journal lists, summer grants, and

other resource allocations.

Faculty Recognition

VSB is fortunate to provide a number of faculty awards for teaching and research. Awards are named for

their donors and are given on an annual basis. Teaching awards are recommended by the teaching

committee and research awards are recommended by the research committee.

Teaching Awards

1) The Gerald A. Dougherty Endowed Faculty Award for Undergraduate Teaching Excellence,

awarded to an outstanding teacher of undergraduate students. Full‐time faculty members are

eligible for this award after two years of service at VSB. Awarded since 2007.

2) The Daniel J. O’Mara Faculty Award for Graduate Teaching Excellence, awarded to an outstanding

teacher of graduate students. Faculty members are eligible for this award after two years of

service at VSB. Awarded since 2011.

3) The William J. O’Neill Award for Undergraduate/Graduate Teaching Excellence, awarded to an

outstanding adjunct faculty member. Adjunct faculty members are eligible for this award if they

were teaching at VSB previous academic year. Awarded since 2011.

4) The Bill Carmody Award is given to a faculty member who exemplifies the connection between

business theory and practice. Full‐time faculty are eligible. Awarded since 2013.

Research Awards

1) The VSB Summer Research program is offered annually to faculty who have achieved a high level

of research productivity over the last five years. Awards are given in fixed amounts (generally

$10K or$ 20K) and are paid in June following the academic year. The total dollars awarded has

24

increased each year for the last five years. VSB currently awards nearly $500K in competitive

summer awards beyond the contractual support provided to new faculty.

2) The McDonough Family research awards are given each year to two faculty members, a junior

faculty member and a senior faculty member, based on research productivity over the previous

five‐year period. Faculty members are eligible after three years of service to VSB. Awarded since

2011.

Faculty Sufficiency

Faculty are categorized according to whether they participate or support our curricula. In general, all full‐

time faculty are classified as participating and part‐time faculty are classified as supporting. However,

there are a few faculty who actively participate in the curriculum and so they are categorized accordingly.

Faculty sufficiency is delineated in the tables below by program and department. While Table 15.1

provides aggregated information, the tables below provide more detailed look at VSB’s faculty sufficiency.

VSB Faculty sufficiency by program achieves AACSB standards (Exhibit 5A). Each program, with the

exception of the Master of Taxation program, meets or exceeds minimum 60% participating faculty

standards and our overall sufficiency across all programs exceeds 84%. Due to the nature of the Master of

Taxation program (Exhibit 5B), which relies heavily on practitioners to deliver course material, the

program did not meet this standard. MT deployment data can be found in appendix 7.

Exhibit 5A: Faculty deployment by Program

Program Participating Supporting UG 90.5% 9.5% MBA 68.4% 31.6% EMB 85.3% 14.7% MAC 60.0% 40.0% MSA 86.7% 13.3% MSCM 66.7% 33.3% MSF 83.8% 16.2% Total 84.5% 15.54%

Exhibit 5B: Faculty Deployment for Master of Taxation Program

Program Participating Supporting Master of Tax 26.6% 73.4%

Faculty sufficiency by department exceeds AACSB standards (Exhibit 5C). The percentage of credits taught

by participating faculty averages 85.9% with no department having less than 80% supporting faculty.

Exhibit 5C: Faculty Deployment by Department

Department Participating Supporting ACIS 80.4% 19.6% ECST 97.8% 2.2% FIN 87.4% 12.6% MGOP 80.0% 20.0% MKBL 86.4% 13.6%

25

Total 85.9%* 14.1% *total averages in the above two tables do not match because some faculty do not belong to academic departments

STUDENTS

Undergraduate Admissions Practices

Admissions and enrollment are managed by a central university office. The university as a whole has seen

a steady increase in applicants across all colleges. The below charts reflect recent admission and

enrollment trends. See appendix 5 for undergraduate admissions trends. See appendix 2 for diversity

trends.

Graduate Admissions Practices

Unlike the centralized undergraduate admissions function, Graduate program recruiting and admissions

are managed directly by VSB. Our Fast and Flex Track MBA, Executive MBA, Master of Science in Finance

and Master of Accounting program admissions are managed through the Graduate and Executive Program

office. Recruiting and marketing for our Master of Science in Analytics program, our Online MBA program,

and the Online Master of Taxation program are managed through a collaborative partnership with

Pearson Embanet. Our Master of Science in Church Management program is managed largely out of the

Center for Church Management and Business Ethics with support from the VSB graduate admissions team.

The Master of Taxation on‐campus program admissions are managed through program staff at the Law

School. Graduate programs (with the exception of those programs managed with Pearson Embanet, and

the on‐campus Master of Taxation program) partner with the VSB Marketing and Communication team to

generate and execute comprehensive marketing plans.

In recent years, admissions practices have been altered to streamline the process and to add flexibility for

prospective students. In addition to the GMAT, the Graduate Business programs admissions team now

offers the GRE as a standardized testing option for prospective students, which is in line with our peer

institutions. We now offer students the ability to request a waiver for standardized testing, which enables

to us to take into consideration a prospective student’s extensive work history and related skills when

assessing academic fitness for a program. Students must meet at least one of the following minimum

requirements to be granted a waiver:

Hold a terminal degree (i.e. PhD, JD, MD) from an accredited university

Hold a master’s degree from an accredited university in a technical or quantitative field with a minimum cumulative GPA of 3.0

Have 7+ years of relevant professional post‐undergraduate work experience and hold an undergraduate degree from an accredited university with a minimum cumulative GPA of 3.0

With the addition of our online program offerings, we have moved to align our online evaluation

standards with that of our on‐the‐ground programs, allowing us to uphold a more consistent academic

standard and expectation for prospective students interested in any of our programs. It also signals to the

faculty and VSB stakeholders that our admissions requirements are just as stringent, regardless of

program or format. This evaluation standard is also meant to support the University’s graduation GPA

requirement of 3.0, and lower the potential for any program attrition due to academic rigor.

26

The graduate team has also focused on the recruitment of underrepresented groups. VSB has found

specific success in the representation of women in our programs, with an average year‐over‐year increase

of 3% to 10%, depending on the program. Our 2016 on‐ground MBA (EMBA, Fast & Flex) number is 42%.

We are committed to increasing the diversity of our students in terms of gender and ethnicity.

With regard to our specialized masters programs, we have helped to increase brand awareness and

pipeline development through new marketing collateral, targeted recruitment fairs, seed‐planting sessions

at the undergraduate level including SBI outreach and an alumni panel, and undergraduate Class Visit

information sessions. The team has worked more closely with faculty department chairs to enlist more

program promotion through faculty. They have created a new MSF Engagement Communication Plan,

including MAC and MSF Information Session Webinars and a specialized masters‐specific Financial Aid

Webinar. We have sponsored study breaks during finals to advertise the MAC program to VSB

undergraduate population, and we’ve promoted programs to Engineering students through information

sessions. We have also increased engagement with other universities via advertising and events (i.e.

Albright Accounting Evening).

To improve recruitment efforts, the admissions team has developed a communication engagement plan, which includes Interview Days to promote yield and showcase programs. We have increased the program deposit amount to improve retention, and we now have mid‐cycle yield events to promote community engagement. Webinar series and an Admitted Student Microsite that bridge the gap between the admissions and program teams have also improved prospective/admitted student engagement. Our VSB overall admissions strategy is to move VSB admissions from an enrollment management model to

a selective admissions model. We have implemented a series of strategies to aid us in this transition and

following are a few examples to help illustrate the steps we have taken to achieve those.

We have raised brand awareness to further strengthen and expand the applicant pipeline through a new

marketing campaign and a more strategic approach to implementing said campaign by creating more

robust web resources including a webinar series, program comparison charts, and online marketing

collateral. There is also an increased presence in Center City Philadelphia, including drop‐in sessions and

the ability to interview downtown. The team has redistributed program responsibility to reflect a more

integrated representation of each individual program, for lead sharing and so all admissions staff members

can speak to any available program. Admissions events now feature all programs, and new events have

been created, such as an MBA/EMBA mixer. All programs now have new collateral, available through an

“Admitted Student Portal,” and the applications have undergone a complete revision including the

implementation of a new decision and enrollment tracking system. Events and event communications are

now managed by a CRM.

We have enhanced our distinctive brand identity through the creation of new and enhanced old

communication plans to more specifically showcase distinctive program features, like Social Impact and

Global Leadership, which are consistent with VSB’s mission. We have also created a new admissions

welcome packets to make our process distinct and to further highlight the fact that students are joining a

strong and united VSB Grad Community. We are also working to diversify our applicant pipeline by

expanding regional recruitment travel to a more national focus (i.e. Boston, NYC, DC), and by identifying

and outreaching to alternate industries for increased representation. We have also recently partnered

with organizations like Forte Foundation to attract underrepresented populations.

27

The Master of Science in Church Management program is a mission‐driven program that provides much‐

needed management education to church leaders and administrators. Most students come in with

decades of experience. Cohorts are typically comprised of church laypeople, along with some priests and

pastors. The program spans denominations, though the majority of the students come from Catholic

churches.

We advertise the MSCM program in national and international religious press outlets, both Catholic and

non‐Catholic. Our marketing includes some print materials, as well as online ads on major religious news

and information web sites. In addition to print and online advertising, we attend several key conferences

each year to promote the program and encourage larger‐level partnerships with dioceses and church

organizations. Applicants apply online on a rolling basis for summer admission to the program. We also

advertise locally within our partner dioceses, such as the Archdiocese of NY, the Diocese of Camden, and

the Diocese of Trenton. This advertising includes ads in the local diocesan publications, diocesan website,

and parish bulletins. Whenever possible we request that partner bishops allow us to speak about the

program at meetings of the parish priests.

The Master of Taxation (MTAX) program is administered through the Charles Widger School of Law. The

Graduate Tax Program Director, Associate Director, and Program Coordinator admit and review

prospective students by committee. Admission is competitive and dependent upon indicators that the

applicant will be successful in this rigorous program. Thus, an essay, résumé, and letter of

recommendation are required application materials. Additionally, applicants must have a baccalaureate

degree in accounting from an accredited college or university with a strong grade point average.

Applicants other than certified public accountants must have successfully completed the Graduate

Management Aptitude Test (GMAT) or Graduate Record Examination (GRE), with an acceptable score;

CPAs need not take the GMAT or GRE. Students who previously earned an MBA or related Master’s degree

are also exempt from taking the GMAT or GRE. In addition, all applicants must have at least one year of

work experience in the general field of taxation.

The number of graduate tax students who have enrolled in the campus program has fallen in the last three

academic years. To the best of our knowledge, we have not lost applicants to other graduate tax

programs. Rather, anecdotal evidence suggests that the program has not been promoted or marketed in

the Philadelphia region in the last few years. As a result, the program has suffered from a lack of

awareness in recent years within the Philadelphia business community. In response to this, the Graduate

Tax Program has held numerous information sessions at several accounting firms in the local area which

have reignited the interest in the program.

MTAX students in the online program are required to meet the same admission criteria, the same degree

requirements, and are taught by the same faculty. Creating the online program has allowed the Graduate

Tax Program to expand from a local market to a national platform and increase course offerings. The role

of Pearson Embanet is to market and recruit for the online program, provide student services for students

in the online degree, and assist with online course development. All admission decisions are made by the

Graduate Tax Program Office and weekly conference calls are held with Pearson Embanet and with on‐

campus constituents from Marketing, Technology, and Financial Aid.

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Graduate Programs Enrollment Trends

PROGRAM 2011‐12 2012‐13 2013‐14 2014‐15 2015‐16 2016‐17

Flex Track MBA 430 423 426 401 416 412

Fast Track MBA 123 133 140 144 134 127

Online MBA N/A N/A N/A 48 151 181

EMBA 53 60 58 60 57 52

MAC 31 51 48 41 48 41

MSF 29 27 25 29 18 23

MSCM 28 38 25 21 59 85

MSA N/A N/A N/A 20 110 134

Please refer to Appendix 5 for graduate admission trends.

Undergraduate Support Services

The Clay Center at VSB and the O’Donnell Center for Professional Development

The Clay Center at VSB and the O’Donnell Center for Professional Development (housed within the Clay

Center) provide undergraduate VSB students with a “one‐stop shop” student service center.

The Clay Center at VSB, established in fall 2007, is named in honor of the late VSB Dean Emeritus Alvin A.

Clay. Dedicated alumnus, dean for nearly 20 years, and professor of accountancy for 40 years, Dean Clay

had a tremendous impact on the advancement of VSB. Consistent with Dean Clay’s concern for the well‐

being, learning, and professional growth of all students, the goal of the Clay Center is to provide

undergraduates with a complete program services center to call their own. The center offers students

exemplary academic resources that enable them to be active members of the VSB student body, to

explore and develop educational and career goals, and to successfully apply their unique talents and

knowledge to become socially responsible members of the global business community.

The James and Charlotte O’Donnell Center for Professional Development, located in the Clay Center at

VSB, was officially launched in fall 2015. The Center works to provide a multitude of professional

development activities that serve to enrich students’ academic experiences and prepare them for success

in the profession of their choice. These opportunities allow students to learn about themselves and the

business world from practitioners, as well as apply what they’re learning in the classroom to the “real”

business world. The O’Donnell Center also serves the graduate population, by partnering with the

Associate Director of Career and Professional Development within the Graduate Business Program team.

The undergraduate advising team facilitates the exploration and development of academic and career

goals, and empowers students to be responsible decision‐makers and active participants in defining their

futures. The advising team is a support system—from orientation to graduation—that provides exemplary

academic resources enabling students to be active members of the Villanova student body and to

successfully apply their unique talents and knowledge to become socially responsible members of the

global community.

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VSB employs a four‐year, integrative advising program. Using a team approach, each incoming freshman is

connected with a Clay Center academic advisor (professional advisor) and a peer advisor, an upper‐class

VSB student. Clay Center advisors are available to their advisees throughout the VSB experience. At steady

state, each team of three Clay Center advisors will advise two classes: freshmen and juniors or

sophomores and seniors. Each VSB student has the same Clay Center advisors for all four years.

We are in the process of transitioning from a faculty advisor model to a faculty mentor model. Up until

now, when students declare majors in spring of sophomore year, a faculty advisor joins their advising

team to provide discipline specific expertise. Moving forward, faculty mentors will replace faculty advisors.

These faculty mentors have a breadth of knowledge to share regarding why a student would want to

declare a major/minor in a specific field. They will be available to offer guidance regarding opportunities

and career paths and to suggest elective courses as well as complementary major and minors where

appropriate to further support students’ interest and deepen their knowledge.

Peer Tutors

The VSB Peer Tutor program is managed by the Clay Center Academic Advisors. VSB Peer Tutors are

student leaders with excellent academic records who are invested in helping their peers. The process to

become a peer tutor is very selective; in addition to a review of a student’s transcript, an application and

interview are also required. Students who work with VSB Peer Tutors report improvement in their

preparedness, comprehension, and confidence as they approach their coursework. VSB Peer Tutors

support the academic success of their classmates by providing drop‐in office hours and the option to

schedule individual tutoring appointments throughout the semester. Beginning in the 2015‐2016

academic year, peer tutors are now compensated for their time; previously, they volunteered their time.

Graduate Support Services

EMBA Curriculum Redesign Highlights of the new curriculum include the addition of ten new EMBA faculty members, four new courses, eight revamped courses, and two electives that will permit the offering of current topics deemed most critical and relevant by each cohort. Structural improvements include the conversion to electronic course delivery for all material, the adoption of bring‐your‐own‐device computer support, and the introduction of a distance‐learning trial for specific coursework that does not require on‐site peer collaboration.

MBA From 2011 to 2016, the MBA program made changes to the course offerings and in the various delivery options. Professors developed new elective courses and offered several required and elective courses in new formats. Several MBA courses are offered as hybrid courses: weekend options, full day on a Saturday then distance learning format, online courses and remote considerations as well.

An office consolidation and reorganization took place with the hiring of a Director of Enrollment Management and an Executive Director position which was formed to bring the Executive MBA program under the same leadership structure as the rest of the Graduate Business programs. This change allows for a stronger alignment with the same University and VSB services other graduate students now access. Additionally, this role combines the student experience of all seven graduate business programs under one mantle allowing programs to better leverage the academic and faculty partnerships across all of VSB.

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Dedication to student experience The Graduate Programs office is aligning its professional development resources with the O’Donnell Center for Professional Development and Campus Career Center to align offerings, maximize on new and existing relationships and expand the reach of our professional development focus. A focus on collecting data to get a better understanding of our students needs has helped us identify areas of needed improvement as well as more quickly meet our student’s needs. Evidence of this is seen in the flexibility we offer to meet the needs of our fully‐employed population while keeping up with industry trends such as offering more online content.

MBA Orientation All of the MBA populations (Fast, Flex, Online) now have access to an online Orientation course through Blackboard. The Blackboard Orientation course was first built in 2014 for the inaugural online MBA class. It was rolled out to the Fast Track for the cohort starting in Fall 2015, and then for the Flex Track students starting in Fall 2016. Prior to the Orientation course in Blackboard, students would reference an MBA Guidebook, in either hard‐copy brochure or PDF format. The MBA program also has a face – to face Welcome Orientation for new students – MBA Fast and Flex programs and the Online MBA program. During this Welcome event, students have the opportunity to meet the faculty, staff, and dean, as well as to network with current students and ask any questions as they start the MBA program.

New MBA specializations The MBA program added specializations within the electives area of the MBA program, specifically in Analytics. Students can specialize in 8 different specialization areas: Analytics, Finance, International Business, Healthcare, Management Information Systems, Marketing, Real Estate and Strategic Management.

New course offerings from CLAS/NURS/EGR/LAW In 2016 the MBA program started to offer courses from the other schools within Villanova: the CLAS (College of Liberal Arts and Sciences), Law School, Engineering and Nursing. Students from the MBA program can take selected classes in those schools as well as the students can take selected classes in the MBA program. We are now offering our MBA required courses in our Center City location too.

Flexible Learning Options Increased access and flexibility is offered to students by allowing campus based students to participate in online electives. We are adding more electives in the center city location and have expanded our global practicum option to Flex Track Students.

Increased Communication The MBA Insider Newsletter was launched in Fall 2015 with purpose of being the primary source of announcements and information from the Graduate Business Office. It has sections for Academic information, Career & Professional Development updates, and Community events and is sent to all Fast and Flex Track MBA students on a bi‐weekly basis.

Reports: Discoverer, CAPP The MBA program has created reports for staff and students to reviewing information and analyzing data. Students now have an online program to view their academic progress. Staff have reports for continuous improvement, seeing the history of courses, student enrollment and projections for future courses.

QIC Student Feedback

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The Graduate Business Office regularly hosts feedback forums with a select group of students (nominated by peers), known as the Quality & Innovation Committee. The Graduate Business advisor for that population moderates the sessions to gain feedback about the curricula, faculty, career services, and student services. Over the past five years, the feedback process has become more structured in terms of meeting organization, moderating, and follow‐up.

Entrance/ Exit Surveys The graduate business office has recently worked with an outside company to administer entrance and

exit surveys to the MBA Fast Track, MBA Flex Track, Online MBA, MSF and MAC students. The Master of

Science in Church Management will implement this survey fall 2017. From this information, we can

identify what students are looking for in the programs and what we have delivered. The surveys help us

with our continuous improvement process by improving areas through student feedback. See Appendix 5

for Graduate Business Exit Survey questions.

MTAX Student Services and Placement

The vast majority of MTAX students both on‐campus and online are enrolled part‐time, employed full‐time

and are not seeking career services. Most have enrolled to enhance their technical skills and professional

credentials in an effort to advance their careers at their given places of employment. While career

counseling is not typically sought from MTAX students, the Graduate Tax Program is dedicated to

providing more networking opportunities for students, including the annual Tax Symposium as well as the

introduction of “networking nights” to be held prior to the start of class beginning in fall 2017. Online

students who may live in the local area are also welcome to use campus services, to attend campus

networking events and are invited and encouraged to attend commencement in spring to graduate

alongside campus students.

PROFESSIONAL STAFF SUFFICIENCY

VSB staff participate in a number of activities and opportunities to expand their development as

professionals. Some examples include:

Participation in and travel to annual industry conferences (See “Association Membership 2016‐17”

in Appendix 5).

Tuition remission to pursue undergraduate and advanced degrees (within the yearly credit limit)

Workshops, trainings, and other related courses for industry professionals

Support for participation in women leadership events and conferences, and other diversity

initiatives

Travel with students to case competitions, professional development offerings and other career‐

related events.

Team building activities, within and across teams, to foster a sense of community and

understanding of each team’s functions as well as individual roles.

An organizational chart can be found in Appendix 5. Over the past five years—largely thanks to fundraising

efforts and the success of our entrepreneurial programs—we have been able to add five new staff

positions.

VI. LEARNING AND TEACHING Curricula Management/Governance

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Each curriculum in VSB is governed by a committee made up of appropriate faculty for the program. Staff

also sit on these committees as appropriate. The undergraduate program and the MBA program

committees have representation from each of the five academic departments. The specialized masters

programs have committees made up of appropriate faculty from corresponding departments. Some of the

specialized masters (e.g. Master of Science in Analytics) have faculty on the committee from multiple

departments. All curricular issues are discussed by the appropriate committee who makes

recommendations to the Dean and/or Dean’s Council. See appendix 5 for a list of the current VSB

committees and their charges.

Program Assessment

Each curriculum in VSB is governed by a committee made up of appropriate faculty for the program. Staff

also sit on these committees as appropriate. The undergraduate program and the MBA program

committees have representation from each of the five academic departments. The specialized masters

programs have committees made up of appropriate faculty from corresponding departments. Some of the

specialized masters (e.g. Master of Science in Analytics) have faculty on the committee from multiple

departments. All curricular issues are discussed by the appropriate committee who makes

recommendations to the Dean and/or Dean’s Council.

To support this committee system, in 2012 a staff position was reconfigured to, in part, develop and

manage the assessment process. In 2015, a faculty director of assessment was named to provide

additional support and increase faculty participation and buy‐in. Assessment results are brought to the

appropriate program committee to determine if curricular changes are needed, and what those changes

should be. Where there are deficiencies, often a subcommittee of faculty who teach courses involved with

specific goals/objectives are gathered to discuss course modifications. Should a goal or objective need

significant modification, these changes are also managed by the curriculum committee.

Below is a current snapshot of our assessment processes for each of our degree programs. Details can be

found in Appendix 6 for each program, as well as the measurement standards applied to the process.

Master of Business Administration (MBA)

The Villanova MBA is offered in three different formats—the Flex Track MBA, the Fast Track MBA, and the

Online MBA—all of which offer the same curriculum and pull from the same faculty resources. The below

results reflect the Fast Track and Flex Track programs. Online MBA program assessment was implemented

this summer. Full assessment rubrics, assignment descriptions and results can be found in Appendix 6.

ASSESSMENT CYCLE OUTCOMES

Goal 1—Understanding Core Business Concepts: An MBA Skills Test was created in 2015 to test core

knowledge, measured in the MBA capstone course. 94% of students scored above 50% on the test.

Goal 2—Develop an Ethical Perspective: Students scored between 85% and 97% across all performance

indicators. While this is strong performance, the team of assessors met in summer 2016 to discuss best

practices. Because the project used for assessment is a group project with individual elements, the group

discussed ensuring that each student is truly assessed individually, and that the faculty members

managing the course are helping students to understand the context of programmatic and course goals,

so students have the opportunity to display the skills assessed.

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Goal 3—Learn to Lead: Students scored between 85% and 98% across all performance indicators. While

the programmatic objectives were met, the assessment process was a bit complicated and conversations

to simplify the measures and collection are ongoing.

Goal 4—Be Innovative Decision Makers: Students scored between 96% and 97%. The assessment takes

place in the same course as Goal 2, so the same comments apply.

Goal 5—Develop a Global Perspective: Students scored between 52% and 84%. An assessment was first

conducted in spring 2014, and students did not adequately demonstrate an understanding of the goal.

After considering the assignment descriptions and student work, faculty teaching the course, as well as

the assessor determined that students did not receive enough direction to demonstrate the skills we were

looking for. For the spring 2015 sections, the assignment was revised to be more specific. While student

work did improve, performance was still not adequate. Faculty members teaching the course met in spring

2015 and addressed the concern that the practicum course was not providing enough International

Business framing for the students to get as much from the experience as they could. The following

changes were suggested:

Provide more in‐class time, content and framing before trips so that students know what to look

for when they’re experiencing activities in‐country.

Bolster reading lists to provide more context

Streamline class assignments to be more impactful and worth a larger percentage of grading

structure so that students spend time reflecting on their work.

Hold debrief sessions while in‐country to reflect on shared and individual experiences and

observations.

Where possible, arrange for an “off the record” session with local businesspeople, but outside of

their company so that students can get a true sense of doing business in that location.

Incorporate a community service aspect to the trip wherever possible, as the impact of these

experiences was noted in many student papers.

Goal 6—Apply Technology: Students scored between 47% and 94% across performance indicators.

Discussions are ongoing for how to address these shortfalls.

Executive MBA

The Executive MBA (EMBA) program underwent a curricular remodel beginning in spring 2012. Part of this

process included a thorough review of the EMBA goals and objectives. Once the curriculum was rolled out

in 2014, the faculty began the assessment process using course‐embedded measures. Between 2014 and

2015, all assessment data were collected and analyzed. A summary of these results can be found below.

Because the program is relatively small with approximately 60 students enrolled, each student was

assessed.

The most recent assessment process began again in spring 2016, and the faculty were expected to complete assessment data collection by fall 2016, followed by a “closing the loop” meeting in late fall or early spring. Long‐term plans call for rubrics to adopt a 1 to 4 grading scale to capture more variability. Full assessment rubrics, assignment descriptions and results can be found in Appendix 6.

ASSESSMENT CYCLE OUTCOMES (2013‐2016)

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Members of the EMBA Curriculum Committee discussed the assessment results during a Curriculum

Committee meeting on October 2, 2015. Results showed that students met most performance indicators

across all goals and objectives:

Goal 1—Strategic Leadership: Student performance across all indicators ranged from 93% to 100%. No changes were discussed. Goal 2—Quantitative Decision Making: Student performance exceeded 80%, with scores ranging from 82% to 100% except for in the case of two indicators:

Analyze activity/turnover measures of the firm (e.g., asset turnover): 62% success

Analyze the capital structure (leverage) of the firm (e.g., debt/equity) 45% success The EMBA curriculum committee discussed these two indicators, and determined that they fit best into the Finance course (Module II) and the Performance Measurement course (Module III). Due to time constraints and because of the way these two courses build upon each other, the committee decided that the Performance Measurement course will work these skills into his course using a simulation. Goal 3—Innovation and Creativity: Student performance across all indicators were 93%. No changes were discussed. Goal 4—International Business: Student performance across all indicators were 97%. No changes were discussed. Goal 5—Professional Development: Student performance across all indicators ranged from 90% to 100%.

No changes were discussed.

Master of Accounting & Professional Consultancy (MAC)

After reviewing MAC learning outcomes data, members of the MAC faculty met to discuss the results and

curricular changes. Generally, the process brought clarity to the changes that have occurred over the past

five years. Many faculty have adjusted test questions and assignment details to better measure the

related objectives and improve the assessment process.

Full assessment rubrics, assignment descriptions and results can be found in Appendix 6.

Goal 1—Identify and respond to ethical challenges: three measures used, and approximately 85% of

students met the objective. No changes were discussed.

Goal 2—Skilled at gathering and analyzing business information: five measures used, with 93% meeting

objective expectations. No changes were discussed.

Goal 3—Create and use decision models to analyze business situations: seven measures used, and 80% of

students met the objective. After considerable discussion, faculty concluded that a lower rate of success in

meeting broader program expectations on this learning objective is also within expectations. Faculty will

address this dimension within each applicable course by redesigning related assignments where

appropriate and strengthening coverage of related skills.

Goal 4—Identify and analyze global business opportunities: three measures used, with 96% student

compliance. No changes were discussed.

Goal 5—Demonstrate speed, efficiency and innovation: one measure was used, and 100% of students met

the objective. No changes were discussed.

Goal 6—Meet educational requirements to sit for CPA Exam in 150‐hour states: This objective is not

assessed using a course‐embedded measure. Instead, its achievement is by design. No changes were

discussed.

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Master of Science in Church Management (MSCM)

The Master of Science in Church Management began their most recently completed assessment process in

2012. By the end of 2014, all assessments were collected, and analysis began. Results were first discussed

in fall 2015 with the Church Management Curriculum Committee. A final discussion took place in spring

2016 and included all faculty who teach in the program. Full assessment rubrics, assignment descriptions

and results can be found in Appendix 6.


Goal 1: While students performed above the 85% acceptable success rate for performance indicators #1

and #3, students, on average, were not successful in demonstrating an understanding of the legal

environment of churches in the US and the relationship between civil and church law (performance

indicator #2)

Goal 2: Students exceeded the 85% acceptable success rate for each of the three performance indicators.

Goal 3: Students scored below the acceptable success rate on two of the three performance indicators.

78% of students could demonstrate financial literacy in areas such as budgeting, and the preparation and

analysis of financial statements (performance indicator #1) and 84% could demonstrate the ability to

envision and employ alternative organizational structures and dynamics to achieve desirable

organizational objectives (performance indicator #3).

Goal 4: While students met the acceptable success rate for performance indicators #1 and #2 at 86%,

students were below the acceptable success rate (82% vs. 85%) in applying catholic social thought at its

implications for ethical behavior in both an individual’s private and professional lives (performance

indicator #3)

In the cases where students did not adequately learn intended objectives, Dr. Zech, faculty director and

main assessor, felt there was not enough evidence in the student responses to determine student

comprehension. After reviewing syllabi, it became clear that the assignments themselves did not set clear

enough expectations for students to exhibit performance indicators.

Moreover, some of the objectives were combined and simplified to make the assessment process more

efficient.

Goal 1: – No change

Goal 2: – Fold objective #1 into the performance indicators of the other two objectives

Goal 3: – Combine objectives #1 and #2

Goal 4: – Reword objectives and reduce the number from three to two.

Even though most goals and objectives did meet student learning expectations, the faculty director felt

that the assessment process itself needed a full review to better engage faculty teaching in the program,

and to ensure that the objectives were being assessed thoroughly and rigorously. In spring 2016, Dr. Zech

held an MSCM faculty meeting during which the Director of Accreditation and Strategic Initiatives

presented on the AACSB assessment standard, as well as the assessment process for MSCM. Faculty were

tasked to look at the assessment plan and to develop or tweak assignments that would be appropriate to

measure objectives related to their courses. The retooled assessment process will launch in fall 2016.

Master of Science in Finance (MSF)

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There were 2 assessment cycles for the MSF program that spanned the last five‐year period: 2011‐2014

and 2015‐2017. The 2011‐2014 assessment cycle closed with a report to the MSF curriculum committee

on March 30, 2015. The 2015‐2017 assessment cycle is in progress. Full assessment rubrics, assignment

descriptions and results can be found in Appendix 6.


Goal 1: 100% of students scored “1” or above across all performance indicators. No adjustments were

discussed.

Goal 2: 82% of students scored a “1” or above on average across the performance indicators, below the

acceptable success rate. Of particular concern, 71% of students satisfactorily met learning objectives and

74% met attendance requirements for the MSF Professional Development program (PDP).

Identified problem: Our low performance in this category was largely due to issues in attendance.

Proposed Solution: New PDP program designed that will require a pass/fail grading system to

encourage productive participation across required and encouraged activities.

Goal 3: While 93% of students scored a “1” or above on average across the performance indicator, only

86% of students were able to clearly articulate a problem and a solution when giving an oral presentation.

Identified Problem: Students struggled with clearly articulating the problem and solution to a business

case when giving an oral presentation

Moving forward, students will be encouraged to participate in additional case competitions as part of

the PDP to help further develop these skills.

Goal 4: On average, 88% of students scored “1” or above across the performance indicators. No

adjustments were discussed.

Goal 5: 100% of students scored “1” or above across all performance indicators. No adjustments were

discussed.

Bachelor of Business Administration

At the conclusion of the fall 2016 semester, all undergraduate goals will have been assessed at least once in the curriculum. For each goal, faculty members were engaged in the development of the objectives and performance indicators, creation of assessment tools, and evaluation of results. Outcomes and assessment modifications, if necessary, are discussed with members of the Undergraduate Curriculum Committee. Some of the goals and objectives are embedded in courses and will be assessed on a continuous basis. Others have required changes to where or how they are assessed. Full assessment rubrics, assignment descriptions and results can be found in Appendix 6. ASSESSMENT CYCLE OUTCOMES

Goal 1: Ethics—In the spring 2015 semester, students were given a case dealing with an ethical issue faced

by a business. The students were asked to identify the ethical issues and apply ethical theory to the

problems presented. Students did not show evidence of mastery over goal. After a faculty meeting, it was

determined that the assignment was not an effective measure. A new assignment using the same case but

a new set of more prescriptive questions was developed during spring 2016 semester, for deployment in

the fall.

Goal 2: Technology—96% of the 543 students in VSB 1000 during the fall 2015 and spring 2016 semesters

scored an 80% or above in demonstrating competency in spreadsheet management (objective #1).

In the spring 2016 semester, objectives 2 and 3 were assessed in VSB 2008. On average, students

performed well below the acceptable success rate in evaluating the quality of a given set of data (objective

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#2). For objective 3, students exceeded the 80% acceptable success rate in demonstrated the ability to

apply analysis to solve a business problem (PI #2), but fell short of the acceptable success rate in

conducting analysis using technology (PI #1). Summarized results were shared with VSB 2008 faculty.

During the fall semester, faculty will re‐evaluate course instruction, the assessment device and timing, and

create a new assessment tool to be administered during the spring 2017 semester.

Goal 3: Global—In fall 2015, 10 multiple‐choice and one essay question were created for assessment of

the two global objectives. The questions were included on the final exam of four sections of ECO 3108 as a

dry‐run of the assessment tool. In the spring 2016 semester, the multiple‐choice and essay questions were

administered to all ECO 3108 VSB students (7‐sections, 116 students). The performance success rate of

80% or above was exceeded for both objectives.

Goal 4: Innovation—A new assessment for the two innovation objectives was administered to 192

students in VSB 2040 during the spring 2016 semester. On average, performance was below the 80%

acceptable success rate (at 62%) for objective #1, but was above it (at 84%) for objective #2. With the

grandfathering of VSB 2040, other courses will need to be considered to evaluate the innovation goal

going‐forward.

Goal 5: Core Knowledge—Core knowledge of students, covering operations, finance, accounting, MIS, Business Law, Marketing and Economics subject areas, was assessed in the senior level course, VSB 4002. Administered in the spring of 2013 and 2014, 67% of the students scored above 50% on the 135 multiple‐choice question exam. Because of the poor performance, members of the undergraduate curriculum committee representing their departments were asked to review and re‐submit multiple‐choice questions for the exam. It was also decided to shorten the test from 135 to 90 questions. The new skills test was administered to students during the spring 2016 semester. The percent of students scoring 50% or above on the exam improved to 79%. Goal 6: Communications—Students exceeded the acceptable success rate on all written and oral communication performance indicators.

Master of Taxation (MT)

The Graduate Tax Program meets with full‐time faculty at least once a semester to discuss current

coursework and strategies for curricula change in upcoming semesters and/or academic years. For

example, full‐time faculty teach in both the on‐campus and online programs, and so items are addressed

in a round‐table discussion on how assessments are working in both formats, what new courses could be

developed online, and the schedule of course offerings for specialization tracts. The Graduate Tax Program

Office conducted an assessment for the Assurance of Learning based upon the four objectives of the

program below:

Objectives

1. Graduates of the Villanova GT program can identify issues, effectively research existing tax law,

apply technology and appropriate critical thinking, and develop solutions to complex tax

problems.

2. Graduates of the Villanova GT program can recognize and evaluate tax issues by applying

substantive U.S. and international tax law principles that are essential for tax practitioners.

3. Graduates of the Villanova GT program can address ethical issues relevant to a tax practitioner

and demonstrate a commitment to ethics and integrity consistent with the highest standards of

professional responsibility in tax practice.

4. Graduates of the Villanova GT program can effectively communicate tax conclusions and advice in

an appropriate manner.

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To confirm if the objectives are addressed throughout the core curriculum, the Graduate Tax Program

Office reviewed course assignments, examinations, grades, and writing samples from across various

courses that are delivered both online and on‐campus. Course material was reviewed throughout the past

five academic years and across several different courses and instructors. The following conclusions were

found in the assessment:

ASSESSMENT CYCLE OUTCOMES

Objective 1: In both the online and on‐campus course Professional Responsibilities in Tax

Practice/Research & Writing, a reference librarian from the Villanova Law Library teaches a portion of the

course. The modules taught by the reference librarian provide students with the instruction and resources

on how to appropriately research tax law and tax regulations. The assessment determined that both

online and on‐campus students are challenged in the course through weekly foundation and bridge

questions related to research, through a research assignment and through research questions included on

the final examination.

Objective 2: The core curriculum (Survey of Tax, Tax I, Tax II, Taxation of Corporations & Shareholders, and

Partnership Taxation), are a group of courses that all students in the Masters of Taxation are required to

take (in addition to Professional Responsibilities in Tax Practice/Research & Writing.) These courses first

introduce students to the specializations of tax practice in Survey of Tax, and then prepare students in

how to identify issues in tax and how to appropriately address such issues within tax principles and

regulations. In this assessment, final examinations and grades were reviewed and it was found that 80% of

students in courses earned an 80% or better in all but the Partnership Taxation course offered online.

Given that the make‐up of students is predominately full‐time accountants working in taxation on a daily

basis, it is expected that students would perform exceedingly well in the core courses. However, this

finding has presented an opportunity for the Graduate Tax Program Director and faculty to conduct an

additional review if the curriculum in the core courses needs to be made more challenging and rigorous.

Objective 3: The cornerstone in the skillset of a tax practitioner is his/her ethics in daily tax practice. The

Professional Responsibilities in Tax Practice course is designed to teach both attorneys and non‐attorneys

the ethical standards required in the profession. Case studies in how to handle sensitive issues, responding

to clients, and how to maintain and uphold integrity in tax practice are taught both on‐campus and online.

The assessment of the final examination and grades found that the subject matter of ethics is consistently

addressed within the course.

Objective 4: Both attorneys and non‐attorneys alike need a skillset in how to effectively communicate with

clients on tax conclusions. The writing module of the Professional Responsibilities in Tax Practice is

designed to provide students with an opportunity on how to craft a clear and poignant message in

responding to a tax issue. Examples of how students complete writing assignments in the on‐campus

course were collected, and it was determined through a review of writing samples that the subject matter

is covered. However, in reviewing the same Professional Responsibilities course online, it was determined

that students are not given similar opportunities for lengthier writing assignments. In online courses,

writing is covered through discussion board postings and replies. While the discussion board postings

demonstrate a strong handle in tax knowledge and awareness, and present the opportunity to converse

with both students and the instructor in a written format, it does not appear that students are given the

same challenge of composing a longer written piece. Therefore the conclusion is to meet with faculty and

create a writing assignment for online courses that will more directly address how to strengthen effective

written communication.

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VIII. ACADEMIC AND PROFESSIONAL ENGAGEMENT

Undergraduate Student Academic and Professional Engagement

Backpack‐to‐Briefcase: Professional Development in the Curriculum

Backpack to Briefcase (B2B) is an innovative initiative, integrating professional development into the core

business curriculum throughout a student’s four‐year academic program. B2B supplements students’

participation in traditional academic courses, providing holistic preparation for success as business

professionals. Integrating career and professional development concepts into the VSB curriculum fosters a

thoughtful approach to preparing for life after graduation. Each year of the B2B program, students are

presented with opportunities to learn and develop professionally.

FRESHMAN YEAR: Assessing the Environment

During the fall semester, the Professional Development Component is embedded in VSB 1015 Business

Dynamics, a course required of all VSB freshmen. Students participate in and reflect on professional

development events. Students are required to attend three events; one from each of three tracks: (1)

Major Exploration, (2) Career Exploration and (3) Professional Skill Building. In addition, students must

write a reaction paper for each event using three different formats: (1) professional email, (2) professional

memo, and (3) professional blog post.

The spring semester requirement continues to evolve. In spring 2016, the two requirements were:

1. Practice the Art of Mixing and Mingling: A Networking Etiquette Session: students were required

to attend one of three sessions and write a reaction paper

2. Resume: Each student works with the University Career Center to create a professional

In the fall or spring semester, VSB freshmen enroll in a one‐credit online course, VSB 1000, designed to

increase students’ ability to utilize spreadsheets as a tool for business decision making. Students are also

required to earn Bloomberg Certification by completing Bloomberg Market Concepts (BMC), a self‐paced

e‐learning program that provides instruction on the use of the Bloomberg terminals as well as an

introduction to the financial markets.

SOPHOMORE YEAR: Defining and Implementing Your Strategy

In the fall or spring semester, VSB sophomores participate in a one‐credit seminar that focuses on self‐

assessment, career decision making, personal branding, internship and job search processes, interviewing

skills, networking and using social media. Throughout the semester, students are presented with

opportunities to interact with alumni and employers and practice skills critical to success in the career

development process. The content of the course continues to evolve based on feedback from students

and employers. During the 2015‐2016 academic year, all students were required to submit a culminating

project…Your Brand/Your Plan. Students had to create a dynamic presentation representing the self‐

discovery, major/minor options, and career information they gathered throughout the course. They were

asked to demonstrate the connection between what they knew about themselves and what they learned

about the potential career path(s) of interest.

JUNIOR YEAR: Gaining a Competitive Advantage

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In the fall or spring semester, VSB juniors enroll in a one‐credit course, known as the Bartley Briefcase

Challenge, which provides preparation for and culminates in an internal case competition. Written and

verbal communication skills, analysis, team dynamics and leadership are integrated throughout the

course. This course also provides a wide array of networking opportunities; students interact with and are

provided feedback from business professionals.

This academic year (2016‐2107) marks the third iteration of VSB 3000 (the junior year Backpack‐to‐

Briefcase requirement). In spring 2016, the Clay Center worked with a marketing research professional to

conduct four focus groups to better understand the student experience with this course. VSB is currently

reviewing the results to determine if any changes should be instituted for the upcoming academic year.

SENIOR YEAR: Capitalizing on Your Investment

Seniors are encouraged to participate in professional development activities offered by various University

offices including the Career Center, Student Life etc.

Mentor Program

The VSB Mentor Program was launched in January 2014. It was introduced as a pilot program for

sophomore women in the Class of 2016 once they declared their majors. The VSB Mentor Program brings

VSB students and alumni volunteers together in one‐to‐one relationships to support the student’s career

and professional development goals. All student mentees and alumni mentors opt in and are paired based

on the student’s primary field of interest, desired work location, and mutual areas of interest. Alumni

mentors share interviewing and job search tips, networking leads, and industry insights. Mentors range

from the Class of 1982 to the Class of 2013 and represent over 150 different industries.

In spring 2016, the Mentor Program expanded to include both sophomore men and women. The program

expanded upon positive experiences, addressed learnings and now provides a higher level of service to

students and alumni mentors by leveraging Chronus, a software package that primarily aids in the

matching process. The VSB mentoring experience is unique from others because the mentoring

relationship is designed to continue until graduation. Students and mentors are encouraged to connect

once a month, and there are training sessions available to help students understand how to best and most

appropriately engage with mentors. The O’Donnell Center hosts a number of events both on campus and

in Manhattan to bring mentees and mentors together. We host “Meet Up” events local to VU and in NYC

to bring pairs together face to face and enable mentors and mentees to meet other participants. Pairs also

meet in person, Skype, talk on the phone and email to maintain their relationships between the time they

are matched and graduate. Monthly communications are distributed to participants providing Mentor

Program updates and recommended discussion topics. National Mentoring Month is celebrated every

January.

An Advisory Board comprised of 18 students and 13 alumni provide insight, guidance and support. Since

January, 2014, over 350 pairs have been matched. Business minors are also given an opportunity to

participate.

Undergraduate Mentor Statistics:

Currently, there are 260 matched pairs

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100 pairs are Class of 2017 mentees (current seniors)

160 pairs are Class of 2018 mentees (current juniors) Approx. 1 out of 3 VSB students from the

Class of 2018 are participating in the Mentor Program

Read‐to‐Lead

The VSB Read to Lead Program, sponsored by EY, is an integral part of the undergraduate curriculum. The

program connects and inspires students around a common, highly relevant business theme through the

collective reading of one book during the summer before freshman year. The book offers students a real‐

world context for learning and provides a launching point for integrative discussions, projects, and

analyses of topics in the Business Dynamics freshman core business course. It also provides students with

new opportunities for discussions with high‐level corporate leaders.

The 2016 Read to Lead book was Daniel Lubetzky'sDo the KIND Thing: Think Boundlessly, Work

Purposefully, Live Passionately. John Leahy, President of KIND addressed the students in September 2016.

The Read to Lead Program has included such books as: Winners Dream: A Journey from Corner Store to

Corner Office by Bill McDermott, The Wawa Way: How a Funny Name and Six Core Values Revolutionized

Convenience by Howard Stoeckel and Bob Andelman, Conscious Capitalism by John Mackey and Rajendra

Sisodia, Googled: The End of the World as We Know It by Ken Auletta, Pour Your Heart Into It: How

Starbucks Built a Company One Cup at a Time by Howard Schultz, Delivering Happiness: A Path to Profits,

Passion, and Purpose by Tony Hsieh and Start Something that Matters by Blake Mycoskie.

Competitive Effectiveness

Competitive Effectiveness, a six‐credit sophomore course makes a strong and concrete link between the

core concepts of both marketing and management, and teaches students concepts from multiple

disciplines by working on real problems. The course pairs students with executives at local and regional

companies. Students build a marketing plan that includes marketing research, competitive analysis and a

budget, as well as individual advertisements, promotional materials and a management analysis.

Vanguard, Comcast, Johnson & Johnson, Campbell Soup Company, and Hershey Entertainment are just a

few of the companies involved.

FiRST Program Pilot

The Finance Research Scholars Training (FiRST) program is designed to prepare VSB freshmen and

sophomores to become research assistants for finance professors. The program has two components: (1)

Finance Scholar Seminar and (2) Finance Research Associate. The Finance Scholar Seminar (FIN 2121) is a

one‐credit course, offered in the spring semester that meets for about 12 weeks and is a combination of

lectures and seminars. The lectures are offered by Villanova Finance faculty; finance faculty from well‐

respected universities present their research at the seminars. Once students complete the Finance Scholar

Seminar, they apply to become a Finance Research Associate. As a research associate, a students will work

five‐ten hours a week during the fall and spring semesters with a finance professor on the faculty’s

research agenda.

Career Paths in….

Each fall the Clay Center at VSB works directly with the academic departments to present the Career Paths

in….series to provide a broad overview of the possible career paths and opportunities available in each

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discipline to better inform our students as they consider their many options and choices. The series spans

a 2‐week period with a different department/major presentation each day.

Study Abroad

VSB students are encouraged to participate in study abroad activities. VSB works closely with the Office of

Education Abroad to advise students on available opportunities. While students are not required to

participate in Villanova sponsored programs, there are a number of these programs available to VSB

students, during the traditional fall or spring semester as well as during the summer.

Examples of VSB Programs:

Global Citizens Program: The Global Citizens Program is only open to Villanova University freshman who

will be enrolled in the Villanova School of Business.

This sixteen week overseas study experience combines academic coursework with a practical internship

located in either London or Singapore! This program is designed to offer a unique and life‐altering

academic experience to first year business students.

Business and Culture in the Italian Context (BCIC): Villanova University has twenty years of experience with

the University of Urbino and has a full‐time resident director on‐site. BCIC is designed to meet the

curriculum needs of VSB Sophomores interested in International Business and Italian language and

culture. Students enroll in four required courses and choose one elective course. The anchor course,

Competitive Effectiveness (6 credits), is co‐taught by a Villanova faculty member and a professor from the

University of Urbino.

Internships and CoOps

Experiential education is an integral part of the VSB curriculum. Every undergraduate student is

encouraged to participate in externship/leadership programs and complete at least one business

internship or CoOp experience as a means of gaining real‐world experience and applying knowledge

gained in the classroom. Participation in Externship/Leadership Programs, part‐time or full‐time

internships and CoOp experiences provides students with valuable opportunities to:

Make the connection between business theory and practice

Gain insights into career interests and “test the waters” before committing to a specific career

path or profession

Explore what it is really like to work in a particular industry or organization on a daily basis

Develop a competitive edge by having proven business experience to offer future employers

Earn a full‐time job offer with an internship employer, as many organizations utilize their

internship programs as a pipeline for entry‐level hires

The Clay Center and the O’Donnell Center for Professional Development provides assistance to students

around a variety of experiential education opportunities. The Rise to the Top: Internships and CoOps

Educational Series informs students of available opportunities, prepares them to actively participate in the

internship search, and provides appropriate support along the way. See Appendix 7 for recent internship

and CoOp statistics.

Student Business Societies and Leadership Opportunities

VSB is home to wide array of active student societies. Membership and involvement in the organizations

provides outlets to gather information focused on a specific industry and/or career path, connect with

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employers and network with students who share similar professional interests. Additionally, membership

may lead to leadership opportunities within the societies. See Appendix 7 for more about our student

societies, as well as additional examples of academic and professional engagement programs.

Graduate Student Academic and Professional Engagement Professional Development MBA students are afforded many opportunities for professional development. The MBA Student Association plans and organizes social and professional development events throughout the year. Students can participate in on‐campus competitions on entrepreneurship and off‐campus competitions with Aspen and the Association for Corporate Growth. Webinars and workshops are offered throughout the semester. In addition to programs, the Associate Director of Graduate Career Management conducts individual career and professional development coaching for the MBA students upon request.

In partnership with the Career Services office, the Graduate and Executive Business Programs team piloted

a résumé review option for MSF students to help them hit the ground running with regard to pursuing

their professional goals. The program consisted of an introductory résumé review webinar (with résumé

format tips, points for what to highlight, etc.) and an assigned résumé reviewer.

Alumni Engagement As a newly created entity in 2015, the Alumni Engagement function has experienced a year of development. With the introduction of numerous programs, including the formation of the MBA Alumni Association and mentoring, the goal of the initial year was to introduce and increase networking opportunities to alumni and foster of spirit of pride and connection to VSB. While the accomplishments of the past year have attracted attention from alumni and students, there is tremendous opportunity for growth and fine tuning. In 2015 efforts were focused on MBA students and alumni. Efforts in 2016 will include all graduate programs. By its very nature the function of alumni engagement is collaborative and must be an integrated to provide opportunities for all stakeholders to be engaged in the process of providing a world class alumni experience. Therefore increased collaboration with the Career Centers, Alumni Relations, Marketing and University Communication is essential for continued success of this function. MBA 8910 Social Enterprise Consulting Practicum

MBA 8910, the Social Enterprise Consulting Practicum is a required capstone 3.0 credit course that allows

students to utilize their MBA knowledge and experience in a real life case study. Students work with a

non‐profit or social enterprise company designing and delivering a project that will help and enhance the

company’s needs. Students work in groups throughout the semester, understanding the needs of the

company and delivering a project the company can implement immediately. The MBA students have

worked with over 250 social enterprise companies throughout the Philadelphia area. A final presentation

day allows students, faculty and clients to come together to complete the course requirements and

continue the work presented by the students.

MBA 8920 Global Practicum

The MBA 8920 Global Practicum is a capstone course that can be taken as a Domestic or International

version. The Domestic class meets every week and discusses business issues in a global arena. The

international version brings students to an emerging country, students see how business is done in other

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countries. Company/business meetings, cultural events and academic requirements drive the Global

Practicum agenda while students learn in a global environment.

MSF Mentoring

The MSF Mentor program launched in 2014 and the MBA Mentor program piloted in 2015. In 2016, both

program entered a second phase with the implementation of software facilitating communication and

mentor matching. In 2017, the Mentor program will roll out to all Graduate Business Students.

In 2014, the MSF Mentor Program was launched to connect students with Finance professionals according

to their career goals. The mentor relationship was designed to last 1 year and was facilitated by an

administrator who guided the relationship through frequent communication and prompts for goal setting.

The program is still in place today and has moved from a manual process to a software platform that

manages all aspects of program management.

In 2015, the MBA Mentor Program piloted to Fast Track students in their final year of study. As a 1‐year

mentor program, it matched soon‐to‐graduate MBA students with professionals in their field of interest.

This year the program has expanded to MBA students in both Fast and Flex programs who are in their final

year of study and has tripled in participation. Like the MSF Mentor program, software aids in matching

and program communication.

MSF PDP

The MSF Professional Development Program (PDP) is designed to enrich the graduate classroom

experience and prepare students for successful job searches in the financial services or related industry.

The PDP is a required element of the MSF curriculum and requires mandatory attendance at a series of

workshops and events. This program also features panel discussions with finance professionals who share

their career experience with the MSF students. The students also participate in an annual trip to New York

City to gain an inside look on how major financial institutions operate by participating in site visits and a

networking event with VSB alumni who participate in the Villanova Financial Club. Additionally, Graduate

Career Management facilitates a number of programs for the MSF students to assist in their full‐time job

search.

MAC PDP

The MAC Professional Development Program is designed to prepare students for a career in accounting.

Professional development events are infused throughout the entire time that the student is enrolled in

the MAC program, beginning with Orientation and continuing past graduation. The Professional

Development Program is a required component of the MAC curriculum, and successful completion

requires attendance at all of the workshop sessions that take place during the course of the program. In

addition to the Professional Development Program, students wishing to participate in the Job Search

Program are offered another series of workshops to enhance their personal career development. Students

who participate in this Job Search Program are select one of two tracks—full‐time search or internship—

and are required to attend those supplemental programs as well.

Master of Taxation

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The majority of students are currently employed at law and accounting firms, the IRS, and public and tax

departments of public and private companies. Accordingly, the typical MTAX student is not in the

program to perform a career search in the form of internships. Nevertheless, the Graduate Tax Program

hosts evening speaking events for the purpose of networking and presenting current tax topics.

Case Competitions

Increased participation in case competition on both the MBA and specialized master’s level. This was due to increased staff outreach to students and better overall organization and communication to students.

In 2016 we extended the invite to case competitions to our Online MBA cohort. While that cohort didn’t participate we hope to get more participation from the online students in the future.

FACULTY QUALIFICATIONS AND ENGAGEMENT

Faculty Qualifications

VSB faculty and staff responded to the new 2013 AACSB faculty qualification standards such that VSB

generated a set of new faculty qualification definitions (Appendix 7) that are informed by the AACSB

guidelines and tailored to fit VSB’s faculty governance and evaluation system and are consistent with the

mission of the university.

VSB faculty are evaluated on calendar year basis. Feedback is given to faculty based on the previous

calendar year to help them plan accordingly for the following academic year and calendar evaluation. If a

deficiency was noted, the department chairs have time to work with individuals to bolster their

productivity. Calendar year 2015 faculty qualifications are applied to academic year 2015‐16 courses

taught.

The exhibits (7A and 7B) below provide details with respect to faculty qualifications across programs as

well as academic departments. Table 15.2 provides aggregated data with respect faculty qualifications.

However, in the table below we break out each program so to report the underlying data. We meet each

of the standards in aggregate (table 15.2) where specialized masters programs are combined. However, it

should be noted that the Master of Science of Church Management program is deployed with just over

29% Scholastic Academics. Due to the unique nature of this program it requires particular teaching skill

sets which require us to go outside the traditional research faculty member. As such, the percentage of

Scholastic Academics lags the standard if we only look at that program in isolation.

Exhibit 7A: Faculty Qualification by Program

Program SA PA IP SP Other Undergraduate 59.1% 3.9% 15.0% 16.9% 5.2% MBA 57.0% 3.2% 28.6% 8.9% 2.2% EMB 48.8% 9.3% 39.5% 2.3% 0.0% MAC 60.0% 0.0% 30.0% 0.0% 10.0% MSA 80.0% 6.7% 13.3% 0.0% 0.0% MSCM 29.2% 0.0% 33.3% 37.5% 0.0% MSF 64.9% 2.7% 24.3% 8.1% 0.0% Total 58.4% 3.8% 19.2% 14.5% 4.1%

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The Master of Taxation degree is granted by VSB but is administered by the Law School. Since this

program is part of our accreditation we list the faculty qualifications below. It should be noted that the

nature of the Graduate Tax Program courses are such that rely on significant expertise in various areas of

tax law such as State and Local Taxation, Mergers and Acquisitions, and Estate and Gift Tax. Each of these

areas of specialization require the skill set of a professor who has the deep‐seeded knowledge that comes

from years of experience of working in a specific area of tax. The level of knowledge that is needed to

effectively teach the material is best delivered by a seasoned tax practitioner. In addition, the leading

graduate tax programs in the country have designed curriculum that is taught by tax practitioners for this

reason.

Program SA PA IP SP Other MTax 7.7% 1.6% 7.3% 83.3% 0%

Although table 15.2 does not require data on how faculty are deployed by department, we include the

table below to show how each academic department meets the AASCB faculty qualification standards. As

can be seen below, each of the VSB academic departments contain well‐qualified faculty according to

AACSB standards. It should be noted that the finance department, which did not achieve appropriate

qualification during the last review, more than exceeds the AACSB faculty qualifications for this period.

Exhibit 7B: Faculty Qualification by Academic Department

Department SA PA SP IP Other ACIS 60.4% 1.4% 2.9% 30.1% 5.1% ECST 65.2% 0.0% 29.3% 1.1% 4.4% FIN 56.9% 8.5% 7.9% 23.6% 3.1% MGOP 45.2% 9.0% 20.9% 22.5% 2.3% MKBL 76.7% 0.0% 9.7% 7.4% 6.2% Total 59.5% 3.9% 14.7% 17.8% 4.1%

Detailed qualification information at the individual faculty member level is contained in Table 15‐1, in

Appendix 7. Each faculty member is listed with the appropriate information. For productivity of

participating and supporting faculty, the total number of credits taught over the academic year is listed.

Each faculty members’ normal professional responsibilities is determined by where the majority of their

credits are taught. All faculty at VSB are deployed across all programs as there is no division between

undergraduate and graduate faculty. To complete the normal professional responsibilities column we

categorized based on where each faculty member taught the majority of his/her credits over the academic

year. Department chairs and faculty administrators are also noted as ADM. The percentage of time

devoted to the mission for each faculty member is noted. All full‐time faculty members are 100% devoted

to the mission. For part‐time faculty members, the university considers 24 credits to be a full official load.

Thus, the percentage devoted to mission for part‐time faculty is calculated based on the number of credits

taught relative to the full official load.

Faculty engagement

There are number of opportunities for faculty to engage with industry professionals. VSB contains six

centers of excellence and each maintains an advisory council of business leaders. These leaders engage

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with faculty to discuss topics and programing related to preparing VSB students for the workforce. These

topics range from curricular development to professional development. Our faculty are also engaged with

numerous media outlets to comment on a range of current business topics. VSB also has a limited number

of executive education opportunities that gets faculty in front of business leaders. Beyond VSB, a number

of faculty are well regarded in the industry and provide consulting services to help companies tackle

important business problems. Finally, as part of the curriculum, faculty and students engage with several

local non‐profits to help them work through important challenges in order to help organizations lead their

nonprofits more effectively and efficiently.

VIII. OTHER MATERIAL: N/A

XI. CONSULTATIVE REVIEW We appreciate the thoughtfulness of the AACSB review team as they examine the programs and practices

of the Villanova School of Business (VSB) since the last review. We also respectfully ask that they further

explore several other areas that would help VSB continue to be successful. Any ideas that the Review

Team has about the following points would be most appreciated.

Faculty & Staff Support

We need to address faculty and staff concerns in light of continued difficult funding (e.g., lower salaries, low merit increases, limited hiring leading to more work by all). Research on our aspirational peers is underway and we believe we will need to address monetary concerns raised by our staff and faculty for retention purposes. This also makes recruitment difficult, particularly as we strive to increase diversity by hiring talented women or underrepresented groups who have numerous options.

Currently, with stretched resources, there is limited time and funding to support professional development for staff who are interested in further growth, development, and leadership opportunities. We will be exploring new ideas for staff development in the coming year.

For VSB to elevate its brand, we need to continue to deliver outstanding service and programs. Yet, to expand our portfolio of cutting edge programs, we will need certain resources to enable them to be successful. This includes hiring faculty of all ranks, supporting learning and teaching resources, expanding facility infrastructure, IT support, studio space for new technologies in teaching, etc.

VSB has made progress in elevating its research prominence. To continue this trajectory, it will need to have resources more in line with stronger research schools. This includes: greater funds for summer support, more research assistantships, doctoral or graduate students as research assistants, a behavioral/media lab for research studies, more funding for research awards, greater support for conference travel, reduced teaching loads, etc. This impacts recruitment of new faculty, retention of current research‐active faculty, and the research reputation of VSB. The recent restructuring of the Provost’s Office which increases focus on Research and Teaching & Learning will be beneficial for all colleges, and VSB will continue to work with the Provost’s Office as well as to seek additional assistance to support research needs.

We will need to continue to evaluate the requirements of our entire faculty to remain competitive in the marketplace. This includes not only tenure‐track and tenured faculty, but also professional faculty (noted as “continuing non‐tenured faculty”) and part‐time faculty. AACSB notes that business schools are now relying on a variety of faculty types to ensure success in teaching, service, practice, and research. Reviewing VSB’s faculty classifications, titles, teaching, research, and service requirements will continue to be important to remain competitive.

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Succession planning is important for all thriving organizations. VSB needs a succession plan in place for all leadership positions, especially department chairs, center directors, and faculty program directors. This means that faculty need to be receiving leadership training to prepare them for future leadership positions. VSB faculty who have served in administrative positions have been involved in many operations and scheduling issues for courses and programs, with both employers and students, which has made it difficult for them to spend much time on strategy or their own research. With the recent addition of the Associate Chair position in departments, Chairs will receive some relief, and more tenured faculty will have the opportunity to seek leadership roles within VSB.

As our Centers of Excellence have taken on increasingly more programs and student events, we need to ensure that they have the appropriate staff support to free up faculty to spend time on strategic development, employer relations, and cutting edge research and practice. Determining the “right” infrastructure to support VSB’s Centers will be important for continued sustainability and increased prominence.

We want VSB to be considered a “best place to work”. We will be examining the levels of engagement and morale among all of our employees (faculty, staff) in the near future.

Program Offerings and Needs

Like all business schools, we have been trying to learn more about the marketplace and future programming needs so any insights would be greatly appreciated, especially in the MBA space.

While we have created new programs to meet the changing audience’s needs for more flexibility in completing their degrees (such as online and blended courses and programs) and faculty’s needs for innovation (such as specialized masters programs), we recognize that we are currently somewhat dependent on outside vendor Pearson EMBANet for our online programs. This relationship has endured some challenges on their end in terms of not meeting enrollment goals, difficulties with course design, etc., which have caused problems for VSB in meeting our revenue projections. We appreciate the enhanced support by the Provost’s Office for Teaching and Learning and will partner with them where possible. Ideally, VSB will have our own internal capabilities for marketing these programs, and more importantly designing online courses. This would require significant infrastructure needs including more admissions personnel, instructional designers, videographers, etc.

As the business world becomes more global and diversified, VSB must ensure that its curriculum meets the needs of employers who are demanding that students work with others from different backgrounds and cultures. VSB has made great strides in globalizing the curriculum and ensuring students have global experiences, although more student scholarships would enable all students to have these global opportunities. In terms of diversity, VSB is currently examining its curriculum to revise required courses and programming to build in a stronger appreciation for diversity, inclusion, and intergroup dialogue. We also appreciate the increased emphasis by AACSB on these areas.

We are excited with the greater focus from the University on cross‐disciplinary programs (cybersecurity, sustainability, entrepreneurship, etc.) and are looking forward to participating in such programs. We are also interested in pursuing partnerships with other Villanova Colleges/Schools to create cutting‐edge programming and have opened up lines of communications with them. We realize this will require (from the University) resources and a creative approach to the revenue model.

VSB’s Brand Visibility, Marketing /Communication, and Strategic Events

We will need to continually update our current strategic plan to ensure that our Mission and Vision as an Augustinian Catholic business school are being reflected in everything we do—from our faculty and staff activities to our student learning and alumni and employer partnerships. Our message of creating “business leaders for a better world” describes the core of who we are as an institution. We

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must thoughtfully ensure that this message and the values of Unitas, Caritas, and Veritas are part of everything we do. Partnering with our Mission and Ministry Unit and other relevant units on campus will enable us to ensure that we embody, recognize, and reward our service mission. Learning what other Catholic‐affiliated business schools do to carry out their missions will also be valuable.

Recognizing that the business school landscape (graduate enrollments) is increasingly competitive, VSB has added more financial support and staff growth to the marketing and communication function. We appreciate the support provided by the University’s Office of Communications and will continue to partner with them. Unfortunately, data across our regional competitors reveals that VSB is being significantly outspent in terms of marketing its graduate programs. Since these are the “revenue‐generating” programs and impact the brand of VSB’s graduate programs, this is of great concern.

While faculty have increasingly been involved in attending professional conferences and hosting seminar series which have helped to build the research reputation of the school, it is also imperative that VSB continue its participation with AACSB, GMAC, NUBS, and other business organizations to continue enhancing its prominence among other business schools. Other suggestions for partnerships are welcome.

With the proactive work by Centers, departments, and other units, VSB has increasingly been hosting more events of significant magnitude (Business Leaders’ Forum, CEO speakers, senior leader series, Women’s Professional Network, Women in Tech, etc), despite not having a formal “events team” to help with all of the logistics and operations of those events. These are outstanding forums for enhancing VSB’s brand image and building networking opportunities with key stakeholders (employers, alumni, students, faculty, staff, etc). Having a more formal “events” team would ensure consistency of VSB’s brand image, and the sustainability of these important programs. Currently, they heavily tax and burden faculty and staff who have significant other work responsibilities.

Facilities

The HVAC system in Bartley Hall has raised some serious concerns from students, faculty, and employers alike. Because the building’s main entrance does not have a vestibule, the building is often extremely cold in the main area during the fall and winter months. At varying times of the year, the classrooms and offices are either extremely cold or hot due to problems with the HVAC system. This has caused faculty to have to open windows when too hot (which leads to loud traffic noises in classrooms and throws off the thermostat) or the use of unsafe heaters when too cold. In either case, it is not a comfortable learning environment. We recognize this will require a major renovation and be very expensive; however, these issues impact the quality of life for our employees, employers, and students, as well as VSB’s brand image relative to our aspirational peers.

There are no rooms in Bartley Hall large enough to house VSB faculty and staff meetings, so VSB must reserve space in one of only two possible locations on campus where we can “fit” our entire faculty and staff team. If we want to host a “CEO” or other significant showcase event, we face the same problem. These large event spaces are often booked far in advance, limiting our ability to host valuable but more last‐minute events and speakers.

Bartley Hall is one of only two academic buildings on campus that is open 24/7 for student use (Tolentine Hall is the other). Thus, it is heavily used throughout the day and night by all University students. This necessitates greater expenses by VSB in cleaning services and continued maintenance. While other colleges on campus have closed their doors or certain floors at earlier hours, VSB has not done this. However, having the building open all hours does create some challenges.

All of the classrooms, study spaces, video room, and open areas (e.g., Curley Exchange, atrium, etc) at Bartley Hall are utilized not only by VSB faculty, staff, and students, but also by others on campus. While we certainly appreciate this, we are faced with difficulties in reserving this space. In particular,

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VSB students have extreme difficulties reserving areas for study or for working with teams, particularly larger teams. As an example, undergraduate students take a required course that requires students to work in teams of 10, and yet they have difficulties securing the needed rooms to practice for team presentations since the rooms are available to everyone on campus. A priority reservation system for VSB students would seem to be ideal for them to utilize the needed rooms.

Having dedicated classrooms for VSB graduate students would also be desirable since they often attend classes next to fraternity and sorority meetings, or musical groups, causing teaching disruption.

Our Executive MBA students do not have the appropriate space within Bartley Hall to hold classes. This hinders students’ ability to feel connected to VSB because they are not located on‐site. In addition, the offsite location at which they have class does not have two appropriate size classrooms to enable us to host the two EMBA cohorts on the same weekend. Having this ability would allow for more networking and economies of scale (meals, faculty teaching, staff available, etc.). As we hope to grow the EMBA program, having a dedicated wing for EMBA and Executive Education is a desired goal in order to build closer ties with such important stakeholders.

We would like to explore the possibility of providing more Executive Education programming, however, we do not currently have the needed classroom or dining space that would provide the kind of "showcase" space executive clients expect.

We have measured our utilization of space in Bartley Hall, and it is clear we are out of space for additional classrooms and teaching, for faculty and staff offices (many are sharing small offices now), and for our students (e.g., limited case rooms, few experiential classrooms, limited collaborative space for graduate students).

Admissions, Financial Aid & Enrollment Management

Like many business schools, the VSB undergraduate admissions process is managed at the University level. As a result, the undergraduate admissions processes influence how VSB is perceived in the external community where we are competing with other highly ranked business schools. For example, limited scholarships or financial aid for all undergraduate students, particularly women and underrepresented minorities, hinder our ability to grow those populations of students. Without direct influence in the admission process, it is also difficult for us to raise our yield of the top candidates in general. We are optimistic for the future due to senior leadership conversations regarding the importance of Villanova providing more scholarships, as well as the recent fundraising successes.

We want to explore the current (or historical) limitation of VSB being able to bring in more than 40% undergraduate business school women by central admissions since this will make it impossible for us to meet our own VSB goals of a 50‐50 gender distribution in our undergraduate program. By signing the White House Agreement on Women and Work, VSB is committed to growing our population of women in business fields in our undergraduate and graduate programs.

We know that the acceptance rate for the UG program is determined by campus, and yet we would prefer to have a significantly lower acceptance rate, and work hard to increase our yield rate like other successful business schools. To increase our yield rate, however, we must have stronger financial resources and a dedicated marketing/communications plan to entice the top students.

Documents

AACSB CONTINUOUS IMPROVEMENT REPORT - Villanova