Marriott Alumni Magazine

Winter 1989 Exchange

Issue link: http://marriottschool.uberflip.com/i/346679

Contents of this Issue

Navigation

Page 12 of 31

CENTENNIAL CAMPAIGN Near the close of Karl G. Maeser's term as principal of Brigham Young Academy, he recommended to the board of trustees that a Commercial College be established within the Academy. Minutes of the faculty meeting held December 17, 1890, reveal that this idea was receiving special attention: "The rapid growth of our territory and its great commercial importance make business instructions necessary, and the Academy, as the parent institution of the Church's schools, should take the lead in offering facilities for a commercial education." In late 1890 and early 1891, leading businessmen of Provo raised nearly $1,000 to assist in the establishment of the Commercial College, which became a reality in 1891 as the Academy entered its sixteenth year. The stated goals of the new college were concise: "It has been established for the purpose of giving students a thorough business training, such as will equip them for active service in the temporal affairs of life." From this simple beginning has grown a nationally recognized school of management that will celebrate its centennial during the 1991-92 school year. Dean Thompson, in his article (see page 2), outlined some lofty goals for the Marriott School and spelled out our priorities in achieving them. The Marriott School will not achieve such goals without sufficient resources. Church funding is appropriately limited and will not increase significantly in the foreseeable future. Therefore, additional funding will be required. A portion of these needed resources, as Dean Thompson mentioned, will come as a major gift of $15 million from the Marriott Foundation. This gift will go directly into the Marriott School's endowment fund in annual increments of $1 million, and though it will have a significant long-term impact on the school's financial well-being, it will provide limited support for our immediate operational needs. We have therefore accepted the challenge of matching the Marriott gift, and we have chosen the centennial year (specifically December 31, 1992) to mark the close of this fund-raising campaign, since these funds will be needed in the immediate future. Ted D. Simmons, who has just completed a two-year tenure as chairman of the Marriott School's National Advisory Council, will chair the fund-raising committee. The question may arise, "What are we going to do with $30 million?" These funds will go directly into the school's endowment and afford us the opportunity on an annual basis of strengthening the three main thrusts of the Marriott School - ethics, entrepreneurship, and international management-and allow us to more effectively educate future leaders. Specifically, we will use these additional resources to fund scholarships and assistantships for students; provide fellowships, professorships, and endowed chairs for faculty members; sponsor significant research projects and conferences; and facilitate ongoing curriculum development. How are we going to raise $15 million? We see five facets of this centennial campaign: 1) Alumni giving is an area that we must continue to emphasize. In the past three years we have made great progress in involving our alumni in both School of Management activities and fund-raising. Of course we would like to think that every alum will contribute to this centennial campaign, but realistically we would like to see overall participation increase to the level of our 1981 MBA graduates -to nearly 30 percent. Individual contributions, donations from alumni at companies that have matching gift programs, and class gifts from reunion classes are three vehicles used in this facet of the campaign. 2) Corporations and foundations have played a major role in lending financial support to Marriott School programs. For instance, the Fred Meyer Charitable Trust has funded the Fred G. Meyer Chair of Re tailing, J.C. Penney recently made a major gift to the Skaggs Institute of Retail Management, and several companies have funded professorships and faculty fellowships. The Marriott School has 55 affiliates that benefit from their relationship with the school. They support our programs financially, and in return they have access to faculty expertise and school resources in the form of either on-campus visits or in-house training programs provided by teams of faculty members. We will continue to pursue such partnerships in the future to create benefits for both the Marriott School and businesses in various industries. 3) The Endowed Scholars Program was formally introduced in 1984. At that time the school had one endowed chair, one professorship, and no faculty fellowships. Since that time another fully endowed chair, 14 professorships, and eight fellowships have been funded. The goal of this program is to attract and retain outstanding faculty members. This program is succeeding. For example, the Harold Silver Chair of Finance and Management and the Joel C. Peterson Professorship of Business Administration have allowed the school to bring to campus Bernell K. Stone and Ned C. Hill, two of the nation's leading experts on electronic data interchange and cash management. 4) The Entrepreneur Founders is a group of entrepreneurs who are each donating at least $15,000 toward the expansion of our entrepreneurship program. Such support of programs, especially those directly involved in our three areas of emphasis, will require continued funding. 5) The Program for International Students brings students from foreign countries, especially Latin American and Asian countries, to study in the Marriott School's graduate programs. Generally, a sponsor will fund these international students' academic experience with scholarships and loans that amount to about $5,000, with the under- standing that these students will return home and use their education in strengthening their native country's economy and management base. Excellence has its price, and if the Marriott School is to fulfill its part in President Kimball's expectation "that Brigham Young University will become a leader among the great universities of the world," it must have the necessary resources. We want to be able to look to our second century with the optimism and confidence that only these needed resources can bring. EXCHANGE 11

Articles in this issue

Archives of this issue

view archives of Marriott Alumni Magazine - Winter 1989 Exchange