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University of Chicago Booth School of Business

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The University of Chicago Graduate School of Business (also known as Chicago GSB) is the second-oldest business school in the U.S. and remains a major research center. Chicago GSB’s main campus is located in the Hyde Park neighborhood in Chicago, IL, USA. The school's Gleacher Center facility is located in downtown Chicago. The school is considered one of the world's leading business schools.

The University of Chicago Graduate School of Business
File:GSB Logo.gif.gif
TypePrivate
Established1898
DeanEdward A. Snyder
Academic staff
175
UndergraduatesNo
Postgraduates1088
Location
Chicago
,
Illinois
,
USA
Windowed ceiling of the Graduate School of Business Hyde Park Center, designed by Rafael Viñoly
Interior of the Graduate School of Business Hyde Park Center

In 1943, Chicago GSB pioneered the extension of the MBA curriculum to working executives in the middle of their careers, becoming the first school in the world to provide the Executive MBA (EMBA) program. As a result, the School has been widely credited with popularizing various extension programs within the business world, such as the evening and weekend programs, as other business schools have followed suit in creating their own executive education programs.

Chicago GSB is one of the few top-tier business schools not named for a benefactor. While Chicago GSB is distinguished overall for its graduate business programs, its reputation is particularly notable in finance, economics, quantitative marketing and accounting. It has been consistently ranked as a leading program in these disciplines among graduate schools of business by BusinessWeek and the Wall Street Journal, among others.

Chicago GSB differentiates itself from other business schools by virtue of shaping future business leaders with the following traits: an emphasis on quantitative measurement of business hypotheses, from strategic management and marketing to finance and economics; a balanced teaching method of case study and lecture, placing equal emphasis on theory and practice; its global reach with MBA student exchange programs and permanent campuses in London and Singapore; an entrepreneurial culture, which involves students in every aspect of the School's decision-making process; and its fundamental curriculum, which focuses on applying fundamental critical thinking to a constantly changing business landscape.

Chicago GSB graduates hold leadership positions in for-profit, non-profit, governmental, and academic institutions around the world.


Programs

Chicago GSB offers Full-time MBA, Executive MBA, Part-time MBA, and Weekend MBA programs. The 2004 full-time class is comprised of 1088 first and second-year students. Chicago GSB also offers a part-time MBA program with identical curriculum, faculty, and classes to the full-time program. The part-time program is domiciled at the GSB's Downtown Chicago campus, but students in both the full-time and part-time programs may register for classes at either the Hyde Park Center or the downtown campus. The school also offers Executive MBA programs in its permanent campuses in Chicago, London and Singapore.

The full-time and part-time programs at the Hyde Park campus allows students to choose electives starting even in the first year, as they do not follow a cohort system along the lines of other top business schools. Students can opt to pursue one or more of the following areas of study (concentrations):

Students & Culture

Regardless of which program chosen, Chicago GSB graduates are reputed to be excellent critical thinkers who also develop team leadership skills through student-led groups, and the School is particularly envied for its rigorous and challenging culture.

Chicago GSB culture emphasizes rigorous analytical thinking before executing a deliberate plan of action, through cooperation and detailed attention to facts. Much of Chicago GSB’s reputation for excellent critical thinkers is driven by the School’s distinguished list of Nobel prize winners and the new business theories developed at the School. Many aspects of Chicago GSB, from admissions decisions, to admitted students weekend, to orientation week, to the annual conferences and events that the School hosts, are organized and led by students. For example, a required course in the first quarter for all incoming students is LEAD (Leadership and Effectiveness Development) [1], taught by selected second-year students who are prepared through class instruction the previous quarter. LEAD focuses on core leadership values of motivating people, building relationships, and influencing outcomes. There are currently over 60 student-led groups. [2]

History

The University of Chicago Graduate School of Business was launched by Edmund James, former director of the Wharton School, in 1898 as the second-oldest business school in the United States. The School was chartered as an extension of the University of Chicago’s founding principles of “scientific guidance and investigation of great economic and social matters of everyday importance,” as echoed by founding president William R. Harper. Chicago GSB is considered as a first mover in many areas of business school education:

  • First business school to have a Nobel laureate on its faculty (George Stigler, 1982)
  • First business school to have had six Nobel Prize winners: George Stigler, 1982; Merton Miller, 1990; Ronald Coase, 1991; Gary Becker, 1992; Robert Fogel, 1993; and Myron Scholes, 1997
  • First and only business school to have campuses on three continents (in Chicago, London, and Singapore)
  • First to initiate a Ph.D. program in business, 1920
  • The first academic business journal is founded at Chicago, 1928
  • First university to grant a PhD in business to a woman, Ursula Batchelder Stone, 1929
  • First program to educate hospital administrators, 1933
  • First Executive MBA (EMBA) program for experienced managers offered, 1943
  • First to offer EMBA program in Europe and Asia
  • Dean George P. Shultz develops first minority scholarship program at a business school, 1964
  • GSB students found the National Black MBA Association, 1972

Ranking and Reputation

Chicago GSB's MBA programs have been ranked as follows:

Full-Time MBA Programs

Executive MBA Programs

Part-Time MBA Programs

Perception by Corporate Recruiters

According to the more recent BusinessWeek biannual MBA rankings [10] as of October 18, 2004 (p.65): "Chicago's grads were hands-down favorites in our survey of companies that hire MBAs. More than just a factory for churning out economic whiz kids, the school's capacity for shaping students' thinking was at the top of recruiters' minds."

Notable Faculty Members

Some of Chicago GSB's most prominent scholars and professors, past and present, include:

Economics/Finance

Strategic Management

Decision Models

  • John Birge, professor of operations management, former dean of engineering school at Nortwestern University

Marketing

  • Peter Rossi, professor of marketing, founding editor of "Journal of Quantitative Marketing and Economics" in 2003 along with the annual Quantitative Marketing and Economics (QME) Conference
  • Sanjay Dhar, professor of marketing, known for work in brand management, advertising and promotion, was named by Economic Times as one of dozen "big guns" in marketing from India
  • Pradeep Chintagunta, professor of marketing, known for quantitative research on purchasing patterns
  • Jean-Pierre Dube, associate professor of marketing, focuses on pricing strategy
  • Puneet Manchanda, associate professor of marketing, researches quantitative metrics of marketing communication effects

Private Equity

  • Steven N. Kaplan, professor of entrepreneurial finance and private equity, known primarily for empirical research of buyouts and venture capital
  • Scott F. Meadow, clinical professor of entrepreneurial finance and private equity, known primarily for 400% career IRR and "Meadow Ratio"

Accounting

  • Roman Weil, professor and co-author of popular textbooks "Handbook of Cost Management," 2nd ed. (2006); "Financial Accounting," 12th ed. (2007); "Managerial Accounting," 8th ed. (2006); "Litigation Services Handbook," 4th ed. (2007)
  • Douglas Skinner, professor of accounting, winner of 2004 Jensen Prize from The Journal of Financial Economics, former faculty chair at University of Michigan (2001-2003)

Leadership

  • Marvin Zonis, professor emeritus of business administration, known for work on leadership theory and political risk
  • Warren L. Batts, clinical professor of "Taking Charge," former CEO of Dart & Kraft (the large conglomerate consisting of Kraft Foods, 1980-1996) as well as former CEO of several other large corporations (Mead Corporation, Tupperware and Primark International)
  • Howard G. Haas clinical professor of "The Practice of Leadership in Business," former CEO and Chairman, Sealy Incorporated, 1967-86; co-author with Bob Tamarkin of "The Leader Within"

Research and Learning Centers

The GSB promotes and disseminates research through numerous centers and institutes:

Notable Chicago GSB Alumni

Banking and Financial Services

Investment Management

Marketing

  • James M. Kilts, Vice Chairman of Procter & Gamble and former Chairman, CEO, and President, The Gillette Company[19]
  • Julie Roehm, Senior Vice President of Marketing Communications at Wal-Mart, formerly at DaimlerChrysler
  • David Slump, Chief Marketing Officer at General Electric Energy Division
  • Ann Mukherjee, Vice President of Marketing at Pepsico
  • Mason Reay, Director of Marketing (Europe, Middle East, Africa) at Dell Computer Corporation
  • Philip Kotler, author of textbook "Marketing Management: Analysis, Planning, Implementation and Control," the most widely used marketing book in business schools worldwide, received his Master's Degree in economics and did post-doctoral work in behavioral science at the University of Chicago

Private Equity

Government / Public Service / Non-Profit

Technology

Consulting

General Management

Journalism

Entertainment

See also

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