Westmont College Economics and Business 6 Year Program Review Fall 2010 table of contents
B. Vision (2010-2016): Five Primary Goals
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- Goal No. 3 – More Faculty-Student Collaborative Research.
- Goal No. 4 – The National CEO Forum.
- Goal No. 5 – EB Alumni Advisory Council.
- C. TIMELINE FOR FIVE GOALS: FALL 2010
- PRIORITIES FOR 2010-2011
- PRIORITIES FOR 2011-2012
- SUMMER 2013
- FALL 2013
- SUMMER 2014
- SUMMER 2015
- SUMMER 2016
- APPENDIX Chart 1. Profile of Full-Time Faculty, 2004-2010
- Ethnicity Rank/(Year) Tenure Status/(Year)
B. Vision (2010-2016): Five Primary Goals Goal No. 1 – Five Full-time Faculty. The EB department must not only fill the vacated (tenure-track faculty member resigned suddenly during second week of Fall-2008 semester) 4th full-time position just to get back to its “regular” staffing of two economists and two business faculty, but must also add a 5th full-time position in order to be consistent and effective in providing the full complement of courses in the curriculum, as well as providing a reduced student-to-faculty ratio (from it’s current 57:1 down to 43:1 when the “regular” 4th position is filled, and then down to 35:1 when the 5th position is added). Five full-time faculty will allow the EB department to create regular programmatic opportunities for EB students to engage in joint applied research with EB faculty. Goal No. 2 – E3 (The Center for Entrepreneurship, Ethics, and Enterprise). The EB department needs to establish a tangible presence within the broader business community of the Central Coast. E3 will develop specific links between faculty research, student research, and the local-area businesses, focused on matters of new ventures and entrepreneurship, ethics, and the general role and functional value of private enterprise within both the Carpinteria-to-Goleta market, as well as the broader economies of California, the U.S., and the global commercial markets. E3 will allow the college to establish a strong program distinctive and innovative position when compared with both other Christian colleges in the state and the U.S. (GSAC schools and the broader CCCU members), as well as all liberal arts schools that have EB programs of study. E3 will create a more systematic connection between Westmont upper division EB students and the realities of the external markets - locally, statewide, and nationally. The center will bring more specific connections between course pedagogy, classroom processes and interactions, and student learning outcomes, in order to make the transition from undergraduate studies to the external market a smoother, more deliberate process. Most of the upper division EB courses will integrate external contemporary issues dealing with entrepreneurship, ethics, and/or private enterprise and economics, resulting in: 1) individual student applied research, 2) student-team research, and 3) faculty-student joint research that ties together theory, models, constructs, and concepts with actual proposals, reports, business plans, industry and market analyses, and related research projects. The tangible outputs will create a whole new dimension of student learning outcomes and means of assessing the progress and development of EB students through the program. Many of the courses in the EB curriculum then will make links to some form of applied research/inquiry with analysis and results that can be used by local companies, agencies, civic organizations, and government. These will also tie in a close working relationship and opportunities for mentorship with local area like-minded entrepreneurs, business executives, and managers (see Goal #5). E3 will also promote a new strategic focus for Westmont: The Liberal Arts at Work – designed to provide systematic and tangible ways for students to make specific applications of their coursework to problem-solving and the role of EB research in the private and public sectors (see Goal #3). As an example of applied economics and ethical reasoning, we envision students exploring connections between free enterprise, ease of access to capital, the role of trust and transparency, and the reduction of material poverty in a given setting (local region, state, nation, or global region). The E3 will also serve as a downtown Santa Barbara presence for Westmont within the broader mission of the proposed Institute for Global Leadership and the college’s organizational mission. The physical location will have flexible classroom- meeting room- banquet room space, offices, and labs/collaborative workspace for EB students, faculty, alums, and clients-service constituents. The annual business plan competition and innovation symposium will be held there, as will the annual SEED national forum. Regular alumni and student networking events, many in conjunction with the speakers’ series, will also take place at E3. Goal No. 3 – More Faculty-Student Collaborative Research. The department wants to develop an innovative and unique program distinction for undergraduate study of economics and business within an interdisciplinary liberal arts perspective. Faculty-student joint research will happen on any number of fronts, based upon faculty interests, courses, and contemporary issues. Some of this research will be directed towards applying Christian values towards economics policy issues. Another example of a research initiative will be the primary flagship program of the EB department and E3. The Westmont Small Business Barometer (SBB) was originally launched in summer 1991 and continued through summer 1994, taking the pulse semi-annually of over 100 entrepreneurs and small business owners and reporting those multivariate findings in a single index that tracked very well the local Central Coast economy, and the state economy overall. The new and improved SBB will be developed online and reach nationally to over 1,000 entrepreneurs in all 50 states, and be published quarterly and branded as national index of business activity culled directly from those engaged in business enterprise. The vision is that the SBB will become a nationally recognized and oft-quoted pulse of American entrepreneurship as it relates to the broader economy overall. Every semester and summer, EB students will participate in the research process, data collection, analysis, interpretation, and results/publication of the SBB to a local, statewide, and national audience including newspapers, magazines, and trade journals. Goal No. 4 – The National CEO Forum. The EB department and E3 will also further expand and develop the inaugural CEO Forum that was launched in April 2010 in conjunction with a new team-taught (Newton and President Beebe) course: Seminar in Executive Leadership. While the original forum was held on campus and focused on research portfolios of high-visibility American CEOs in the contemporary market, the goal for the National CEO Forum is to have a world-class event over two days at the E3 in downtown Santa Barbara, that will bring together the findings of the SBB, the issues of contemporary leadership, joint faculty-student research, and a wide range of EB Alumni networking to celebrate the role of The Liberal Arts at Work and the praxis of student coursework and applied inquiry/analysis in the markets. A highly visible cache of top CEOs will be invited to speak and do leadership strategy sessions open to the public, and promoted from Silicon Valley to San Diego. This will be another great connection and distinction of how a small liberal arts EB program can put to “work” the integration of theory and praxis through the efforts of its students, faculty, and alums. Goal No. 5 – EB Alumni Advisory Council. The department needs to launch a formal advisory council made up entirely of EB alumni from the last 20-30 years, to provide on-going advice/input/counsel and ideas about how the program of study can remain strategically pertinent in the ever-changing external market environment for business and economics. The AAC would be comprised of between 30 and 40 individuals who have pledged to a four-year term of active support for the EB department, its faculty, students, and all related programs. In addition, this formal advisory body will understand and embrace its additional specific function to financially support all aspects of the EB department program through regular, sustainable giving to both a general EB fund, as well as designated gifts to specific projects, scholarships, speakers, events, and supplies/materials. C. TIMELINE FOR FIVE GOALS: FALL 2010 Finish program logistics, impacts, and curriculum processes plan for integrating the new Center into the EB curriculum. Also continue working with the Board of Advisors (November 2010 meeting) and two targeted donors (through December 2010) for both the center and the 5th faculty appointment. The first strategy is to have this person be an endowed chair in private enterprise, combining a very strong academic background and teaching record in economics and business, substantial business experience, and a high profile of contacts who could contribute to our program. A second strategy is to have this person be approved through the normal channels/proposals in the Provost’s Office. SPRING 2011 Preliminary business plan finished for downtown center, including identifying budget, donor, and program adjustments for implementation. First reception and meeting of 50-60 invited EB alums for the new EB alumni advisory board. Gain approval for 5th faculty search beginning Fall-2011. 2nd Annual CEO forum meets off-campus and expands to 2-day event, with invited speakers and other schools (Pepperdine is targeted partner). 8th annual SEED forum announces partnership with new center. 12th annual C+I symposium. SUMMER 2011 Stage-1 of new center goes into place in new downtown Santa Barbara facility. First group of EB summer student research positions for preliminary set-up for the Small Business Barometer. PRIORITIES FOR 2010-2011: Secure 4th replacement faculty, finish Center-related curriculum integration and budgets, and faculty-student Research agenda. FALL 2011 Formal launch/opening of the center. Second group of EB student research positions, continue with the Small Business Barometer. Pilot group of selected seniors does two-semester academic year in new center-based “transition” curriculum: “The Liberal Arts at Work.” Several events hosted at the new center: Sept-Dec. Barometer database partners with 10-15 regional and national media/press. 22nd annual Business Plan competition happens off-campus in center. Formal EB alumni advisory board is announced at center. Several events help kick off the Fall 2011 opening of the center and its new applied research facet to the EB curriculum. SPRING 2012 Secure 5th faculty person (endowed chair or regular assistant/associate professor) to start Summer 2012. Third group of EB student RAs and Formal launch of the Small Business Barometer nationally. Pilot group of seniors completes their degrees and research and internship/practicum integration curriculum. 3rd annual CEO forum at Center. 13th C+I Industry Symposium meets at Center. 9th Annual SEED national forum.
4th Group of EB student RAs for EntrePoint and Small Business Barometer. Center, EntrePoint, and Small Business Barometer all ramp-up to full EB curriculum integration and national promotions for Westmont. Alumni advisory board brings in first round of outside funding. PRIORITIES FOR 2011-2012: Secure 5th faculty (endowed?), Launch Center-related programs. Implement faculty-student research focus areas. FALL 2012 EB senior class is nearly 100% enrolled in E-3 center based transition year curriculum. 45-50 students doing economic policy research with integration of Christian values, EntrePoint, iTunesU based, CEO-Forum related, C+I Symposium, Business Plan forum, SEED National Forum related, and/or Small Business Barometer related research for Fall 2012 thru Spring 2013. 23rd annual business plan competition. SPRING 2013 Graduate first senior class that does “The Liberal Arts at Work” senior year transition curriculum, with RA credit, intern/practicum credit, senior seminar, and other upper division electives through the center in some capacity. 4th annual CEO forum. 14th C+I Symposium, and 10th Annual SEED national forum. SUMMER 2013 Alumni advisory board brings in 2nd round of outside funding. Full summer EB RA projects. PRIORITIES FOR 2012-2013: Actively promote Westmont’s distinctive undergraduate program Innovation “The Liberal Arts at Work” and secure sustained funding from alumni advisory board. FALL 2013 2nd full senior class enrolled in center-based transition senior year with the center. 24th annual business plan competition.
Graduate 2nd senior class “The Liberal Arts at Work” senior year transition curriculum. 5th annual CEO forum. 14th C+I Symposium, and 11th Annual SEED national forum.
Alumni advisory board brings in 3rd round of outside funding. Full summer EB RA projects. PRIORITIES FOR 2013-2014: Further develop Westmont’s distinctive undergraduate program. Establish new research alliances/partnerships nationwide. FALL 2014 3rd senior class enrolled in center-based transition senior year with the center. 25th annual business plan competition Special Reunion event. SPRING 2015 Graduate 3rd senior class “The Liberal Arts at Work” senior year transition curriculum. 6th annual CEO forum. 15th C+I Symposium.
Alumni advisory board brings in 4th round of outside funding. Full summer EB RA projects. PRIORITIES FOR 2014-2015: Further develop Westmont’s distinctive undergraduate program. Develop new research alliances/partnerships nationwide. FALL 2015 4th senior class enrolled in center-based transition senior year with the center. 26th annual business plan competition Special Reunion event.
Graduate 4th senior class “The Liberal Arts at Work” senior year transition curriculum. 7th annual CEO forum. 16th C+I Symposium.
Alumni advisory board brings in 4th round of outside funding. Full summer EB RA projects. PRIORITIES FOR 2015-2016: Further develop Westmont’s distinctive undergraduate program. Maintain new research alliances/partnerships nationwide. APPENDIX Chart 1. Profile of Full-Time Faculty, 2004-2010
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