UIUC College of Business

University of Illinois College of Business
Motto Knowledge. Innovation. Leadership.
Type Public business school
Established 1915
Endowment US $87.4 million (2007)[1]
Dean Jeff Brown
Students 3739
Undergraduates 2804
Postgraduates 935
Location Champaign, Illinois, USA
Affiliations University of Illinois
Website business.illinois.edu

The College of Business is the business school at the University of Illinois at Urbana-Champaign. It offers programs in accountancy, business administration, and finance.

Starting from 2015, the College of Business is in partnership with Coursera to offer a list of massive open online courses (MOOCs) and an online MBA program.[2]

College History

The University Senate approved the College of Commerce and Business Administration on June 9, 1914 at the request of David Kinley, a University Vice-President who would later serve as President of the University of Illinois.[3] The College was officially formed on April 27, 1915 through a vote of the University of Illinois (UI) Board of Trustees (see governance in higher education). The college began with three departments: Economics, Business Organization and Operation, and Transportation.[4] The college underwent a major reorganization which began in 1951. At the time, several faculty from economics wanted their department housed in the College of Liberal Arts and Sciences (LAS). The proposal failed and the department stayed within the college until 2003 at which time it found a home in the College of LAS. In the same year, the college changed its name to the College of Business.

In 1913, prior to the College's formation, representatives of the University met in Madison, Wisconsin along with representatives from the University of Wisconsin–Madison and the University of California, Berkeley to establish the Beta Gamma Sigma honor society.[5] The College has continued its involvement with the honor society and H. T. Scovill, a former accountancy professor and head of the Department of Business Organization and Operation, has previously served as the society's president.[6]

Campus

The College of Business maintains two campuses, one in Champaign, Illinois and one in Chicago, Illinois.

Champaign

David Kinley Hall, June 2003.

The Champaign campus is located around the intersection of Gregory Street and Sixth Street. This is the current home of the College of Business. When the College was first formed, however, it occupied the Commerce Building, now the East half of the Administration Building on the Main Quad.[3] The Commerce building, dedicated in 1913, was built at a cost of $100 thousand.

The College currently occupies four buildings: David Kinley Hall, Wohlers Hall, The Survey Building, and the newly constructed Business Instructional Facility. This area is known as the Business Quad and is considered part of the South Campus.

Wohlers Hall, formerly known as Commerce West was built in 1963.[7] A naming gift of $6 million was provided by Albert H. and Jane Wohlers in 2000 for renovations.[8] The September 21 dedication highlighted technology enabled classrooms, a dean's suite, a laboratory research suite, and a lecture hall.

The Business Instructional Facility (commonly referred to by the word its acronym spells, "BIF"), approved by the UI Board of Trustees on July 14, 2004, stands opposite of Wohlers Hall on Sixth Street.[9] The new 153,900 sq ft (14,300 m2) building houses the Master of Business Administration (MBA) program, the Undergraduate Affairs Program, and the Accountancy Program. The $62 million project, designed by architect Cesar Pelli, has "green", environmentally friendly elements.[9][10]

Chicago

The Chicago campus is located within the Illini Center on 200 S. Wacker Drive. The location puts the campus within the heart of the Chicago Loop. The center is across the street from the Sears Tower and across the Chicago River from Union Station. The faculty of the campus administer the college's Executive MBA and M.S. of Taxation programs.

The campus is not to be confused with the business school at the University of Illinois at Chicago. The two schools remain separate, distinctive entities.

Departments

The College of Business houses three departments: accountancy, business administration, and finance. The three departments are quite independent in their administrative process.

Accountancy

Wohlers Hall during the Spring of 2004.

The Department of Accountancy was founded in 1953.[11] It offers B.S., M.A.S., M.S. Accountancy, M.S. Tax (Chicago), and Ph.D. degrees.

The University offered courses in accounting before the creation of the University of Illinois at Urbana-Champaign College of Business. The courses were offered through the Department of Economics from 1902 to 1915.[6] The college began the first Ph.D. program in 1938 and has graduated more accountancy Ph.D. candidates than any other accountancy department in the United States.[6] After the formation of the college, the accountancy program was moved into the Department of Business Organization until the Department's reorganization in the 1950s.

In 1919, H. T. Scovill helped establish the Beta Alpha Psi accounting honor society.[6] The College currently houses the Beta Alpha Psi alpha chapter.

Vernon K. Zimmerman Center

The Vernon K. Zimmerman Center was originally formed in 1962 as the Center for International Education and Research in Accounting (CIERA). The Center promotes the understanding of international accounting topics, coordinates an annual conference, and publishes the International Journal of Accounting.

The Center was renamed on September 20, 2002 after Professor Vernon K. Zimmerman, an advocate for the Center's formation. Professor Zimmerman later became the Center's director in 1965, and the dean of the college in 1971.

KPMG/University of Illinois at Urbana-Champaign Business Measurement Research Program

On January 30, 2002, the Department of Accountancy partnered with Big Four accounting firm KPMG to create the KPMG/UIUC Business Measurement Research Program.[12] KPMG partially funded the program with a $2.8 million pledge. The initiative explores measurement, reporting and assurance as they pertain to today's accounting environment. The program was the driving force behind two monographs, Auditing Organizations through a Strategic Systems Lens and The 21st Century Public Company Audit, and several strategic systems auditing cases.

Business Administration

The Business Instructional Facility during the Fall of 2008.

The Department of Business Administration was founded in 1968 through the mergers of the Department of Industrial Administration and Marketing and the Graduate School of Business Administration.[11]

The Department awards B.S., M.S. in Technology Management (M.S. Tech), M.B.A., and Ph.D. degrees. The Executive MBA program is offered at two locations: the Chicago campus and Warsaw, Poland in conjunction with the University of Warsaw.

The MS-Tech program encompasses a set of technology management courses. Course topics include intellectual property management, managing innovation, new product development, project management, simulation and risk analysis, supply chain management, and technology strategy. Traditional business foundation and advanced courses in Accounting, Finance, Statistics, Finance and Marketing also form a large part of the MS-Tech. The program recently introduced two tracks of courses. One for recent graduates and another for experienced professionals.[13]

The Department is also home to the Illinois MakerLab, the world's first 3D Printing Lab in a Business School.

The University of Illinois also offers an online MBA program referred to iMBA at the Urbana-Champaign campus in which candidates can take business courses provided by this institution at coursera.com in addition to six additional MBA courses directly from the university and acquire a master's in business administration degree. [14]

Finance

In 1957, the UI Board of Trustees approved the Dean's proposal to create a Department of Finance.[11] The Department currently offers B.S., M.S.F., and Ph.D. degrees. The Department offers specializations in banking and financial institutions; corporate finance; financial engineering; investment and portfolio management; real estate and urban economics; and risk management and insurance.

The M.S.F. program began in 1958.[15] In 2008, the CFA Institute announced the M.S.F. program's inclusion as a CFA Program Partner. The deputy CEO of the CFA Institute, Bob Johnson, noted, "Students in this program are exposed to the Candidate Body of Knowledge, concepts and principles that have been identified by investment experts worldwide as essential to global practice".

Rankings

According to U.S. News & World Report, the undergraduate accountancy program is #2 in the country, the finance program is #13 in the country.[16] The College as a whole is ranked in the top ten for all undergraduate businesses schools. Businessweek ranks the College of Business as having the #1 career services center ranked by students and #6 career services office as ranked by recruiters.[17] Further, the Wall Street Journal lists Illinois' College of Business as being the #3 preferred institution for recruiters.[18] According to the Illinois MBA website,[19] the College of Business was named one of the top 25 universities in the world by the Academic Ranking of World Universities (ARWU) publication, which is regarded as one of the most influential and widely observed international university ranking systems. For graduate school, the college was ranked as the #3 accountancy program by U.S. News & World Report. It was also ranked third among US MBA programs for return on investment, according to Businessweek. Forbes and U.S. News & World Report listed the school as 10th and 13th best, respectively.

Alumni

The University of Illinois at Urbana-Champaign College of Business has many notable alumni that have excelled in academia, business, and politics. Alumni are denoted by their area of study: accountancy (Accy), business administration (BADM), finance (Fin), or general/unassigned (Gen).

Academia

Business

Government and politics

Other

See also

References

  1. ↑ "Businessweek 2008 College Profile:University of Illinois". Retrieved 2008-04-14.
  2. ↑ College of Business in Illinois, Online
  3. 1 2 "Department of Economics, University of Illinois at Urbana-Champaign: History". Archived from the original on May 17, 2008. Retrieved 2008-05-19.
  4. ↑ "UIUC Library Archives: Business". Archived from the original on March 19, 2005. Retrieved 2006-09-05.
  5. ↑ "History of Beta Gamma Sigma". Retrieved 2008-05-22.
  6. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Bedford, Norton M. (1997). "A History of Accountancy at the University of Illinois at Urbana-Champaign" (PDF). Center for International Education and Research in Accounting. Retrieved 2008-05-22.
  7. ↑ "Wohlers' Generosity to Fund Reconstruction of Commerce West" (PDF). Retrieved 2008-06-13.
  8. ↑ "Wohlers Hall to be dedicated Sept. 21". Retrieved 2008-06-13.
  9. 1 2 "Seventy Third Report". University of Illinois. 2006: 373–374. |contribution= ignored (help).
  10. ↑ "Business Instructional Facility Home". Archived from the original on September 15, 2006. Retrieved 2008-04-18.
  11. 1 2 3 "University of Illinois Board of Trustee Archives". Retrieved 2008-04-14.
  12. ↑ "KPMG-UIUC Research Program Homepage". Retrieved 2008-04-14.
  13. ↑ "MS Tech Website". Retrieved 2008-04-14.
  14. ↑ https://onlinemba.illinois.edu/imba-program/
  15. ↑ "MSF Program recognized as CFA Program Partner". Retrieved 2008-04-11.
  16. ↑ http://colleges.usnews.rankingsandreviews.com/best-colleges/university-of-illinois-at-urbana-champaign-145637/overall-rankings
  17. ↑ "College of Business". Bloomberg.
  18. ↑ "The Top 25 Recruiter Picks". The Wall Street Journal. 2010-09-13.
  19. ↑ http://www.mba.illinois.edu/academics/rankings.aspx
  20. ↑ University of Notre Dame Mendoza College of Business Biography
  21. 1 2 3 4 5 6 "University of Illinois Office of Public Affairs List of Prominent Alumni". Archived from the original on October 11, 2008. Retrieved 2008-04-18.
  22. ↑ "Alumni Achievement Award". University of Illinois Alumni. University of Illinois Alumni Association. Retrieved 13 December 2015.
  23. 1 2 3 University of Illinois Alumni Association Alumni Achievement Award
  24. ↑ CFO.com: Why McDonald's CFO Is Heading for Academia
  25. ↑ "National Women's Hall of Fame Biography: Wilma Vaught". Retrieved 2006-04-18.
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