Category Archives: Business

Heinzel Named Walton College Employee of the Quarter

Pamela Heinzel, administrative support supervisor for the Department of Marketing, has been named employee of the fourth quarter by the Sam M. Walton College of Business.

Anyone in the college may nominate colleagues for the award, which is given to employees who show superior customer service that enhances the image of the college above and beyond the scope of that employee’s job description.

Along with Heinzel, Rachel Hancock, academic advisor for the Honors Program, was nominated for her contributions to Walton College.

The winner receives a certificate of appreciation and a cash prize. Winners are chosen by Walton College Dean Matt Waller, the associate deans, the assistant deans and the Walton College Staff Council.

Psychological Stressors Affect Truck Driver’s Experience and Contribute to Shortage in Industry

A 2017 study published in the Transportation Journal gives insight into truck driver woes with a rigorous phenomenological research approach. What does that mean, exactly? These authors went straight to the source and talked to truck drivers about what phenomena cause them stress.

Using this qualitative research methodology, they were able to gather data in two ways: face-to-face interviews with truck drivers and online blogs. Sixty-one participants were asked to describe their experience as a truck driver, and their interviews were transcribed so the researchers could easily find statements about how drivers handle their job. These statements were grouped into themes or categories that became the findings for the study relating to the essence of the truck driver experience.

Being a truck driver is a grueling and often thankless job. Time away from home and family, poor pay and a generally unhealthy lifestyle make it an unattractive career. Recent statistics from the American Trucking Associations show turnover rates were in excess of 90 percent last year, and with the projected growth of demand, the industry is going to experience a painful shortage in the upcoming years. The number of truck drivers leaving the industry is skyrocketing, and new drivers are not there to backfill the void.

Because almost every finished good eventually ends up on a truck, this is a far-reaching problem that hits almost every industry. Here are a few of the types of psychological stress found in the study:

  • Truck drivers experience loneliness and isolation. They also experience health issues that go unaddressed because of inadequate healthcare options, uncertainty about where to find affordable care and tight delivery windows while on the road. Being away from home and an overall unhealthy lifestyle take a tremendous emotional and physical toll.
  • A multifaceted issue, truck drivers feel disrespected by car drivers on the road, customers, dispatchers and managers. While some might say that drivers should not take all the animosity personally, the fact is that they do. They feel they are being slighted as human beings, and that the truck-driving profession is snubbed and met with disdain.
  • The most challenging piece of the puzzle seems to be the regulatory environment. While most drivers understand the intent behind many of the regulations, they often feel stress-related burdens regarding their pay, eligibility to drive and being told how to do their job. Safety is the intent behind most regulations, but drivers feel that the reality is very different.

TruckThe findings in this research are timely. This past December, the Electronic Logging Device rule went into effect. These ELDs are automatically logging the hours of the truckers, and experts are already predicting increased costs for transportation. When it costs more to move products, the increase in transportation cost will eventually be passed on to consumers in cost of goods. The research team plans to conduct a follow-up study in the near future on the psychological stress related to these new ELD rules.

Stephanie Thomas, clinical assistant professor in the Department of Supply Chain Management, was a co-author of the research regarding truck driver stress.
Stephanie Thomas, clinical assistant professor in the Department of Supply Chain Management, was a co-author of the research regarding truck driver stress.

What are the implications of these truck-driver stressors to business and to consumers? Consumers need truck drivers. They need the products that truck drivers deliver, and consumers want them in a timely manner. Many companies today are working to improve the truck driver experience in a number of ways such as providing different routes, improving compensation or providing well-being resources. For their part, consumers can improve the experiences of truck drivers as well by being more aware of these stressors and by promoting a more respectful driving experience.

Read more and watch a supporting video at the Supply Chain Management Research Center website or the latest article to be published at Transport Topics at www.ttnews.com the week of August 20.

Walton College Hosts Accounting Career Awareness Program

The Office of Diversity and Inclusion at the Sam M. Walton College of Business is hosting 19 high school students from Arkansas and Texas at the Accounting Career Awareness Program on the University of Arkansas campus July 15-20. The residential summer camp introduces high ability minority students to career options available in accounting and other fields of business administration.

To kick off the program, Anne O’Leary-Kelly, Walton College senior associate dean; Barbara Lofton, Walton College director of Diversity and Inclusion; andDonell Cunningham, president of the Northwest Arkansas chapter of the National Association of Black Accountants, will speak to students about career and academic options. During the week, students attend short courses in business foundations, accounting, oral and written communications, computer information systems, ACT Prep and multimedia. National Association of Black Accountants members assist and serve as mentors to students.

Accounting executives, business leaders and other professionals talk with students about professional development and opportunities in their field. Campers will tour nearby corporations including Walmart and JB Hunt Transport Services Inc. to learn more about accounting.

“I am thrilled that Walton College is opening doors to professional accounting careers for these students,” Lofton said. “We couldn’t have done it without the generosity of the American Institute of Certified Public Accountants, the National Association of Black Accountants and other corporate partners. It’s a great investment into our communities, our state and our college.”

This year’s camp is supported by a $14,000 grant from the institute and the national association. An additional $10,000 from a collaborative effort of the Northwest Arkansas chapter, Walmart, KPMG, EY and The Tea Rose Foundation of Northwest Arkansas also supports the summer program.

Walton College hosted the first Accounting Career Awareness Program session in the summer of 1994 and continued the program until 2010 through the support of the Ernst & Young Foundation and the Walton Family Charitable Support Foundation. Through their support, the Accounting Career Awareness Program accommodated more than 300 participants.

The Accounting Career Awareness Program was developed by the National Association of Black Accountants in response to the growing need for minorities in accounting and related fields of business. 

Think. Plan. Do.

Thea Winston, a senior accounting major from Forrest City, Arkansas, is a thinker and a planner. She gathers pertinent information, dwells on it, creates a plan and then executes it. Information gathering is what led her to the Sam M. Walton College of Business and has kept her on track ever since.

When Winston was in high school in eastern Arkansas, she began to critique her likes and dislikes to plan for her future. She hated blood and gore, so medicine was a definite no. She liked numbers and logic, which led her to work after school at certified public accountant Sharon Wilson’s office in Forrest City.

While there, Winston performed administrative duties – answered the phone, made copies, filed materials – and was able to tackle the occasional accounting task and observe her boss at work. She learned what an accountant does and saw first hand that the work suited her. She realized she could become a CPA.

Her task became: Find a college that fit.

Over two summers, Winston attended two week-long residential programs at Walton College – Technology Awareness Program and Business Leadership Academy – where she met faculty and staff, lived on campus, befriended other campers and applied for scholarships.

After that, her mind was made up. Walton College was her choice and accounting was her major.

Helping Out

Winston’s summer camp programs eased her transition into college. She had made friends at both programs and reconnected with them in her freshmen year. She also met Barbara Lofton, the director of Walton’s Office of Diversity and Inclusion.

“Dr. Lofton is always willing to help,” Winston said. “She always checked up on me. She gives you tough love and is always there.”

Thea Winston [photo credit: Ryan C. Versey]
Thea Winston
[photo credit: Ryan C. Versey]
Winston’s Honors adviser for the past four years is Jason Adams, the associate director of Walton’s Honors Program, who was always there for Winston as well. She cites Susan Anders, the assistant director of Global Engagement, as another Walton staff member who was equally friendly and supportive.

“She always made time to answer my questions,” Winston said.

With the support of these Walton College staff, it is no surprise that Winston was an active participant in the Honors Program and Study Abroad and scholarship opportunities.

During her high school summer camp programs, Winston applied for and became a Boyer Fellow. The fellowship is earmarked for business students from Arkansas who have earned a 32 ACT or 1450 SAT college admission exams, along with a 3.75 grade point average and pays for her tuition, fees, books, room and board and other academic expenses.

Winston has also received the Arkansas Academic Challenge and Arkansas Governor’s Distinguished Scholarships, as well as scholarships from Tyson and Conoco Phillips. Talking to Walton faculty and staff helped her find scholarships.

“They’ve helped out so much,” Winston said. “I see a lot of students struggle and I know that worrying impacts their studies. It (scholarships) allowed me to focus on what I was doing academically.”

The scholarships also had an impact on her parents who have two kids in college. Winston’s brother, Avery, is an engineering student at the University of Arkansas.

Walton World View

In addition to studying accounting and general business, Winston expanded her working business knowledge through an internship for two summers at Ernst & Young in Atlanta. She also participated in Walton’s study abroad program to learn about Vietnamese culture and business practices.

Thea Winston
During a service project in Vietnam, Winston works with team members to power and heat resident housing.

In 2015, the summer before sophomore year, Winston traveled to Vietnam for a month with five other Walton students. For two weeks, she worked on a community development project building individual greenhouse systems to power and heat resident housing. Working with other business and agriculture students from the University of Arkansas, Thea learned from Vietnamese students who served as mentors and translators.

The travelers stayed on a Vietnamese university campus for two weeks. They slept on mats lying directly on a twin-size bed frame – Winston bought a second mat to create a softer bed. The food also was a change for the Arkansas native. Breakfast was often meat with rice, along with coffee with sweetened condensed milk ladled on top. One of her favorite meals was a beef dish with a sauce. She avoided the fish dishes if the eyes and head were intact.

Thea Winston
Thea Winston

“The first year we went, none of us had much of an idea of what we would be doing or how successful the program would ultimately be,” said Stephen Kopp, associate professor for the Department of Marketing. “Whether she realizes it, Thea was instrumental in the initial and continuing impact of this program. This was a brand-new program, and I was still working on the details. Her consistent question was, ‘My mom wants to know how is this relevant to my major?’ This compelled me, and still does, to make sure that the students understand the relevance of our work in Vietnam. I think she did not and does not realize the impact of her mom’s question has had on every aspect of the Vietnam program.”

In spring 2017, Winston attended the University of Sussex in South England in the University of Arkansas’ exchange program. She took four classes there – international business, ethics, race and ethnicity, and leadership – with students from Russia, Switzerland, the Middle East and England. The experience taught her about multi-national enterprises, racial issues in other countries and group dynamics with diverse members.

During her time in England, she learned many people there knew American politics, but most Americans were not in tune with world politics. She now sees the importance of being aware of global issues including political ones. She keeps up with her fellow students from her travels via social media.

Stateside

At the University of Arkansas, several classes and professors were especially thought provoking for Thea. Katie Terrell, an instructor for the Department of Accounting, taught Accounting Technology, where Winston learned about data analysis and the coding needed for accounting systems. It gave her insight into a different aspect of her major.

Thea Winston [photo credit: Ryan C. Versey]
Thea Winston [photo credit: Ryan C. Versey]
“She (Katie Terrell) enjoyed her job; it made me enjoy her class,” Winston said.

The Honors Economics Colloquium class taught by Amy Farmer, a professor in the Department of Economics, tackled life decisions, which involved economic thinking and decision making.

“Thea took my Honors colloquium course, which is a discussion-based economics class requiring a lot of critical thinking about any number of issues, some of which are controversial,” Farmer said. “Thea was an active participant in that class, adding a lot of insight and perspectives that added to the class.  She showed a great deal of maturity and ability to think critically, which impressed me quite a bit. I look forward to seeing what happens in Thea’s future.”

Next Steps

After Winston graduates in May with a bachelor’s degree in accounting, she will attend Vanderbilt University to earn a master’s degree in accounting. Once she graduates from Vanderbilt, she hopes to work at a public accounting firm in consulting, auditing or tax accounting for several years and then reevaluate her professional goals and direction.

No doubt, her skills at researching an issue, creating a plan and executing the plan will aid her on her journey to Nashville and beyond.

Rongers Joins Walton Development Team

Erin Rongers has been named associate director of development for the Sam M. Walton College of Business effective April 11, 2018.

Erin Rongers, Associate Director of Development
Erin Rongers
Associate Director of Development

“It is a tremendous honor to join the Sam M. Walton College of Business as the associate director of development,” Rongers said. “I am looking forward to working with our alumni, faculty and staff and securing philanthropic support for Walton programs and initiatives.”

Prior to joining the Walton team, Rongers served as the executive director for The Cancer Challenge chapter in Bentonville, Ark., where she oversaw development, board and volunteer management and general business operations. In this role, she was responsible for corporate partnerships, special events and individual giving. She also managed an annual, large-scale fundraising event, which required the coordination of 140 corporate sponsors, more than 2,000 participants and 350 volunteers.

Previously, Rongers worked as the executive director for Big Brothers Big Sisters of Northwest Arkansas, where she managed business planning, board development, fund development, programs and community relations.

“Erin’s extensive experience and connections in the northwest Arkansas development community will be a huge asset for Walton College,” said John Erck, senior director of development. “She already knows a lot of our supporters, and she has a track record of sustained success. I’m thrilled to have her on our team.”

Rongers holds a bachelor’s degree in communications studies from the University of Texas and a master’s degree in recreation with a concentration in sport management from the University of Arkansas. She is a member of the Association of Fundraising Professionals.

Video Project Highlights Shook’s Freshman Business Connections Class

Freshman year is life changing. Everything – from laundry and dorm rooms to classes and free time – is new and different. Teens are expected to navigate through classes and campus, manage their time and thrive on their own.

To help students’ transition to this new lifestyle, Carole Shook, an instructor for the Department of Supply Chain Management at the Sam M. Walton College of Business, created a team project to encourage freshmen to get to know each other, discover resources on campus and strengthen personal development skills.

Freshman Business Connections students visit the McMillon Innovation Studio.
Freshman Business Connections students visit the McMillon Innovation Studio.

Within her fall 2017 Freshman Business Connections class, Shook assigned a team project to create a video overview of the McMillon Innovation Studio on campus and then present their findings in class. The studio, a gift from Walmart chief executive officer and Walton graduate Doug McMillon and his wife Shelley, tests new technologies and is designed to impact the future of retail. The project, designed by McMillon Innovation Studio director Clint Johnson and Shook, required teamwork, time management, exploration of Walton College resources and networking with classmates.

Freshman Business Connections, often referred to as FBC, is taught to first-year business students to acclimate them to campus, understand what resources are available to them, introduce them to other freshman and help them be successful at the Walton College. It introduces them to David W. Mullins Library for research, academic integrity and ethics, the Business Communications Lab for writing assistance, the Credit Counseling of Arkansas for personal finance management, Walton Career Services for job readiness and the degree opportunities at Walton. The class also helps students’ transition from high school to college by nurturing personal development skills such as time management, stress management, financial planning, health and wellness, diversity and team building.

“I would say team management was the greatest skill I improved at,” said Jay Lovaas, a freshman from Canton, Ga. “I had to effectively communicate with my team members, help with any questions they may have had, and rely on them to check my work as I checked theirs.”

After selecting teams, the freshmen interviewed staff and students at the studio and created outlines for videos and presentations. Each student was responsible for a portion of the project and collaborated with the team on deliverables.

Team members Ryan Hardwick, Alexis Humm, Cydney Feinstone, Elijah Kaplan and interviewer Noah Tidmore recorded video, captured still photography, created graphics and wrote interview questions. In their video below, freshman Noah Tidmore interviews Kayla Bruskas, a senior accounting student and student manager for the McMillon Innovation Studio.

Team members for this video include Ryan Hardwick, Alexis Humm, Cydney Feinstone, Elijah Kaplan and interviewer Noah Tidmore.

“This project was created to show that freshmen students can do amazing things,” Shook said. “These were great students who worked hard and with enthusiasm.”

Throughout the project, students learned about the opportunities at the McMillon Studio, got to know their team members and explored campus. Simply put, the project helped freshmen get connected to their new life on campus.

“It was just a fun class,” Lovaas said. “It gets you in the flow of going to class during your first semester. In my opinion, the greatest thing about FBC is meeting people.”

University of Arkansas Enactus Team Named Regional Champs

The University of Arkansas Enactus team won the regional championship at the Enactus Southeastern Regional Competition and advances to the national competition in May.

The team took the title at the regional competition in Dallas on Monday, April 16. At that competition, the team presented three projects they designed and implemented this academic year. These projects create an impact for residents in Northwest Arkansas fighting issues with homelessness, recidivism among youth and unemployment of disabled adults.

This is the first time in eight years that the University of Arkansas Enactus team will advance to the Enactus National Competition, which will be held in Kansas City, Missouri, May 20-22.

About Enactus: Enactus, an international nonprofit organization, seeks to empower students to make a difference through sustainable, entrepreneurial action. Enactus is a community of student, academic and business leaders committed to using the power of entrepreneurial action to enable human progress. Through student programs on campuses across the nation, Enactus applies business concepts to develop entrepreneurial projects that transform lives and shape a better, more sustainable world.

EPIC Spotlight – Nick Foster

Nicholas “Nick” Foster is an EPIC Supply Chain student at the Sam M. Walton College of Business, University of Arkansas. He is a sophomore from Edmond, Okla., with minors in Enterprise Resource Planning, Data Analytics, Political Science and History. Yes — one major and four minors. He is active on campus too! He is part of Alpha Kappa Psi, a member of Arkansas Supply Chain Association (ASCA), a new member of the Supply Chain Honor Society — Sigma Chi Mu Tau and is in Walton Honors College.

Foster has a passion for learning, and while he credits him mom who always encouraged him to read, he admits he sets high standards for himself to be the best that he can be. For Foster, it isn’t just about a love for learning, he enjoys continuously improving his education.

Continuous improvement led him to supply chain, although he admits initially, it was not at the forefront of his mind when coming to the U of A. His initial focus in history and political science changed during his second semester of freshmen year when Stephanie Thomas, a clinical assistant professor in the Department of Supply Chain Management, opened his eyes to the world of supply chain. The process-oriented aspect of logistics, its versatility as an industry to work in and Walton College has “one of the strongest programs that is available” caused him to declare supply chain as his major.

When he isn’t busy learning, Foster enjoys being outdoors, spending time with his family and his dog, and if he was not already busy enough with all his academic endeavors, he volunteers with local community groups.

He mentors with the Make a Difference Day – Volunteer Action Center and has been an assistant coach for the Fayetteville Parks and Recreation Department youth soccer league for 8th grade students. He enjoys making connections and helping others, whether it is with middle school students or as a Supplemental Instruction Leader for Walton College students.

And, someday soon, Nick aspires to combine his love of history and learning by traveling to Washington, D.C., where he plans to visit all the major monuments and museums in the area.

EPIC Student Spotlight – Qinyi Zhang

As a first-time student at a U.S. university, Qinyi Zhang has found the learning environment in the states to be exciting and different from China, but such a great experience. Zhang is a student in the Supply Chain Management International dual degree program between Soochow (Suzhou) University in China and the University of Arkansas. She recalls how excited she was to be going to the U.S.

“It was an exciting adventure to book tickets and travel to the U.S. without my parents,” Zhang said. “People from the University of Arkansas and around Fayetteville are extremely friendly. It certainly makes living here very pleasant.”

Qinyi Zhang, Supply Chain Management

In addition to her supply chain classes, Zhang enjoys studying human behavior because it involves the psychology of people. Her favorite class is Consumer Behavior which focuses on determining what consumers might be thinking and why they make certain buying decisions.

Zhang feels this experience is helping her become more confident and recommends to her friends at home to take advantage of this international dual degree program. “It’s a totally new life filled with challenges and learning experiences!”

Currently, Zhang is planning her graduate school applications. “I enjoyed it so much that I will be continuing my education in the U.S.”

EPIC Student Story – Landri McGregor

Landri McGregor is a senior at the University of Arkansas majoring in both supply chain and marketing in the Sam M. Walton College of Business. Originally from Golden, Colo., she decided to become a Razorback because her mom graduated with her MBA from Arkansas. Landri comes from a family of accountants and had originally planned to pursue her degree in accounting too, until she signed up for a supply chain class.

She told her mom she was going to pursue her degree in supply chain. She says it’s an exciting time to be in supply chain. It is a hot topic in the business world, and it is a competitive advantage for companies. It can help move them forward.

Like many other students with an interest in business, she wanted to study abroad and see more parts of the world. Her first experience was in India. While there, she learned about differences in transportation and logistics in India compared to the U.S. This experience has helped her understand trends and cultural considerations which impact the supply chain. The experience was a pivotal experience for her and she highly recommends to other students to study abroad.

Landri has also had several internship opportunities which have helped to prepare her for a career after graduation. Last summer, she worked at Walmart on the In-Store Activations team for the oral care department. She worked closely with their Innovations team, conducting research to ensure oral care products catch customers attention. This also added to her knowledge of the supply chain and how uncontrollable factors effect the supply chain. For example, the weather can drastically reduce the efficiency of a supply chain. Her biggest take away from this internship is how quickly retail is changing in real-time. There is so much change happening, but fundamentally the goals remain the same.

She now works at Nestle and has been offered a position to participate in their supply chain development program. She will start in Cleveland, Ohio, in their supply chain offices, and will move to other locations learning sourcing, factory and distribution center work. The program will help develop her skill and expertise in supply chain and logistics, and she is excited her supply chain degree has led her to this opportunity.

Landri is a role model for leadership and volunteerism. She currently serves as the vice president of Beta Gamma Sigma, is a member of the supply chain honors society, and until very recently chapter president of Kappa Kappa Gamma. Outside of school, she volunteers in elementary schools with children as part of Fundamentals for Kids program, lending her time as a teacher’s aide or reading to the kids.