End of Campaign Celebrated
Hilge Hurford and Kate Kohler (HBS '06), recipient of the John B. Hurford (MBA '65) Fellowship.
Photo by Stuart Cahill
Despite near white-out conditions, HBS alumni and friends made their way through the December 9 blizzard to join faculty, staff, and students in a celebration marking the conclusion of The Campaign for Harvard Business School.
Close to 200 members of the HBS community took part in the event, which highlighted the impact of the campaign on the School and paid tribute to the leadership of former Dean Kim B. Clark and his wife, Sue. The day began with faculty-led discussions in Hawes Hall that presented new HBS work supported by the campaign. Guests then attended a reception in Baker Library and a dinner in Spangler Center. Among those participating were Harvard President Lawrence H. Summers, Kim and Sue Clark, and Campaign Chair C.D. Spangler Jr. (MBA ’56). During the evening program, attendees viewed a compelling video featuring members of the HBS community articulating what the School has meant to them.
The School’s first capital campaign concluded on December 31, 2005, substantially exceeding its $500 million goal. (A final tally will be reported this spring.) Even more important, the historic fundraising effort brought together the HBS community to celebrate and strengthen the School’s mission.
Spangler
Photo by Stuart Cahill
“Each of you has made really wonderful decisions in your career,” Spangler told the dinner guests. “I suspect that you learned to do that on the first day of class.” Such decisions “have made your businesses, your organizations, and your communities better,” said Spangler, who thanked those present on behalf of HBS for their contributions to society as well as to the School.
Leadership and Corporate Accountability
As part of the academic program, faculty members Lynn Paine and Bill George talked about the new required MBA course, Leadership and Corporate Accountability (LCA). They provided a firsthand look at LCA by leading discussions using two cases developed for the course. In the first, a young trading floor assistant faces her supervisor’s unethical behavior. In the second, protagonist Anne Mulcahy, then COO of Xerox, copes with possible bankruptcy, an SEC investigation, and dwindling morale.
An interdisciplinary group of senior faculty spent a year developing LCA to help students understand the legal, ethical, and economic implications of difficult managerial decisions they will confront in business. Said Paine, “It’s not just a matter of teaching. Ethics must be built into the culture to work. That is the challenge we’re helping our students grapple with.”
Building World-Class Companies in Emerging Markets
The challenges and opportunities of doing business in emerging markets framed the presentations of faculty members Krishna Palepu and Bob Higgins.
Palepu reviewed his research identifying “institutional voids” that make doing business in China and India especially challenging for Westerners who are accustomed to dealing with market analysts, advisers, regulators, and various transaction facilitators.
Higgins presented an overview of venture capital in Asia, noting that most deals involve investments in late-stage companies and that over half of the capital comes from abroad.
In China, he said, the best entrepreneurs are Chinese nationals who return home after living abroad for an extended period.
In closing the celebration, Dean Jay Light noted that like many present, HBS had changed his life. “Our goal is to continue to change the lives of the young people who come here,” he observed, stressing the fact that assistance from alumni and friends is vital to this effort. “Your support is an integral part of what makes the School what it is.”
