Huntsman donation provides growth
“Hands-on learning, experiential learning, problem solving, ideas with impact – that’s what the Huntsman school is all about,” said Douglas D. Anderson, dean of the Jon M. Huntsman School of Business.
Two months after the college of business was renamed the Jon M. Huntsman School of Business in honor of the $26 million donated by Huntsman to the university, the single-largest donation to the university, Anderson said the college is on its way to becoming a top tier university.
“(Huntsman) has said that he wants to see the Huntsman School of Business recognized as being top tier within 10 years, and that’s exactly what we want to do,” Anderson said.
The Huntsman School of Business has a three-part mission: ethical leadership, entrepreneurship and global vision, Anderson said, and while all three are of equal importance, it is not possible to become top tier in everything, “so you have to focus your efforts.” Anderson said Huntsman has an international focus and that is an area the school of business can excel in.
Huntsman Scholar program
One of the foremost initiatives the Huntsman School of Business will be implementing to achieve its goal of becoming top tier is the Huntsman Scholar program, Anderson said. This competitive program will be “a premier program” with a progressively weighted scholarship that is designed to expand students’ understanding of how government and economics work together, Anderson said.
Slated to begin fall semester 2008, about 200 students will participate in the Huntsman Scholar program, Anderson said. Sixty students in their freshman or sophomore years will be Huntsman Candidate Scholars, and will participate in academic and social activities designed to further understanding of global business, according to a press release by the school of business.
Once accepted into the program, students will receive progressively weighted scholarships and by their junior year, the field of Huntsman Candidate Scholars will be trimmed from 60 down to 40, and these students will be named Huntsman Scholars.
During their junior year, Huntsman Scholars will participate in a three-week academic seminar and learning experience in Europe. Senior Huntsman Scholar students will be mentors for students working through the Huntsman Scholar program. Upon completion of the four-year program, Huntsman Scholars will have received substantial scholarship aid and will have participated in more in-depth learning than the typical business student, Anderson said.
“It’s the kind of program I would have liked to have as an undergraduate,” Anderson said. “It’s going to be very exciting.”
Anderson said the Huntsman Scholars program is modeled on the Huntsman Program in International Studies and Business at the Wharton School at the University of Pennsylvania, which was founded in 1997 by Huntsman, a 1957 graduate of Wharton. According to the Wharton Web site, Huntsman said the Huntsman Program in International Studies and Business is the first of its kind to “fully integrate comprehensive international studies into a business curriculum in order to prepare graduates to work anywhere.’
Anderson said USU’s Huntsman Scholars program is designed to follow in the successful footsteps of the Wharton program. Of all the people that apply to the Huntsman Program in International Studies and Business, the program has a 98 percent yield, something Anderson said he hopes USU can reproduce.
“We think we can build a great program of our own somewhat modeled on that program,” Anderson said. “In part, because we have students that are already internationally focused, many of them because of their LDS missions or because they anticipate going on LDS missions. But we also have students coming to us from Armenia and from the Dominican Republic, as well as from other countries, and these students can also become candidates to become Huntsman Scholars.”
Phase II in business renovation
Last year during the summer, the auditorium in the Business building received a substantial renovation, including improved seating and equipment, Anderson said. This was phase I in a three-part process to improve the facilities in the Huntsman School of Business, Anderson said.
This summer, phase II will begin, with the renovation of the first three floors of the Business building – the basement, main floor and first floor of classroom space, Anderson said. The CEO center will also be expanded and improved, Anderson said, and will include more sitting room and more outlets for students to plug in laptops in between classes.
No courses will be held in the Business building during the summer, but it will be reopened with the improved facilities in time for fall semester, Anderson said.
“Students will come in a much more student-friendly space than it ever was,” Anderson said. “This is in part a fulfillment that we made to the students that we intend to increase the value of the education and the education experience they have in the Huntsman School (of Business).”
The $2 million renovation project was funded in part by support from the George S. Eccles Foundation and assistance from the university, but does not use any of the money donated by Huntsman.
“It’s a very big deal and we’re very excited about it and we know that students will be very excited when they come back next fall,” Anderson said.
“With this renovation, we’re not done yet,” he said. “We do need additional space and we’re actively undertaking planning for a new business building. Watch this space.”
A whole lot of money
Huntsman’s substantial $26 million donation to the university will come in $2.5 million installments over the next 10 years, Anderson said, and will go to support new program initiatives, fund faculty salaries and student scholarships.
The remaining $1 million donated was designated by Huntsman to support an ongoing scholarship fund for Armenian students, Anderson said. This year, for the first time, Huntsman sponsored 13 scholarships for Armenian students to study at USU in whatever field they desire, Anderson said.
“That’s a special interest he has,” Anderson said, “and he thought there’s no better place for these kids to come than Utah State University.”
Huntsman took a special notice of the Armenian people after a devastating earthquake rocked the country in 1988, Anderson said. Observing the needs of the people, Huntsman donated money to help the country rebuild and stabilize, he said. To date, Huntsman has donated more than $50 million to the Armenian people, Anderson said.
“We’re very excited about Jon Huntsman’s participation, both financially and also as an exemplar and source of great ideas, great contacts,” Anderson said. “His vision and our vision are 100 percent in alignment.”
-seth.h@aggiemail.usu.edu