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HASLAM
Haslam Magazine is the premier
publication of the Haslam College
of Business at the University of
Tennessee, Knoxville.
MAGAZINE
Summer 2021
The Franchising Genius of
SHELLY
SUN
The possibilities?
Endless.
#1
US EMBA Program
#1
Overall Alumni
Satisfaction
# 17
(Financial Times, 2020)
Supply Chain
Management
UT's Largest Major Best Business
Schools
#7
(2019 – 2021)
Among US Publics
(U.S. News and World
# 26 Worldwide
Report, 2021)
# 17 Among US Public
for Alumni Rating of
MBA Career Services
(The Economist’s
Academic Undergrad Schools
WhichMBA, 2021)
# 20
Experience (Poets&Quants, 2021)
(Poets&Quants,
2021)
#6 Worldwide
# 19
Archival Accounting
Research
Worldwide (Brigham Young
Archival Audit Research University’s Research
(Brigham Young MBA
Among US Publics Rankings of Accounting
University’s Research Programs, 2020)
Rankings of Accounting (The Economist’s
Programs, 2020) WhichMBA, 2021)
Be what’s possible.
Contents
SUMMER 2021
DEPARTMENT NEWS | 4
Thought Leadership
4 Haslam College of Business
faculty are cited and featured by
global news sources
News
5 News from our
Departments and Centers
8 Scott Roark is building up
real estate
Faculty Spotlight
6 Laura Cole, Sharon Pryse/The Trust
14
Company of Tennessee MILC Director
Research
12 Predicting Businesses’ Brain
Power Needs Is Possible
STUDENT NEWS | 22
Student Spotlights
22 Taylor Boyer
27 Tyler Young
The Franchising
News Genius of
SHELLY
23 News from our
student body
24 The Haslam Volunteer
Impact program
SUN
ADVANCEMENT
REPORT | 28
Leaders in Philanthropy
28 Diane Walker Markarian
& Raffi Markarian
A
18
SUCCESS
Ben Weprin’s adventurous journey
Donors
30 2020 Donor Report
34 Newly Established
Endowments
News
32 The Richard L.
Townsend Chair of Accounting
ALUMNI NEWS | 36
News
36 Alumni Update
Recent Graduate
Spotlight
40 Haslam Alumni
Inspire in Podcast
LETTER //////// FROM THE DEAN
HASLAM
M A G A Z I N E
Haslam Magazine is the alumni publication
of the Haslam College of Business at the
University of Tennessee, Knoxville.
dependable, experienced care. BrightStar,
HASLAM COLLEGE OF BUSINESS
Sun’s entrepreneurial brainchild, connects EXECUTIVE LEADERSHIP
local caregivers and medical personnel with
STEPHEN L. MANGUM
those in need of services in their area. Its Dean and Stokely Foundation
national support network keeps overhead Leadership Chair
and anxiety low for franchisees. BRUCE K. BEHN
Associate Dean for Graduate and
Diane Walker Markarian (HCB, ’83), Executive Education and Deloitte Professor
and her husband, Raffi, have leveraged in Accounting
their success to remove worries of MICHAEL “LANE” MORRIS
entrepreneurial-minded current students. Associate Dean for Undergraduate
Programs and Student Affairs and
Their connection with the Anderson Center Ergen Professor
for Entrepreneurship & Innovation allows CHARLES NOBLE
more students to attend pitch competitions Associate Dean for Research and Faculty
by alleviating some of the financial burden BETSY ADAMS
Assistant Dean of Finance and Administration
involved with travel. The competitions open
doors for students in their careers and give
HASLAM MAGAZINE
them the confidence to move forward with
their dreams. TANYA G. BROWN
Executive Director of Marketing and Public
In yet another example, a large group Relations | Editor-in-chief
of connected alumni have come together SETH REAGAN
CONNECTION…IS THERE EVER TOO MUCH? to honor the professor who encouraged Executive Director of Advancement
If so, how much is too much? After months them on their paths to success. In MEREDITH HULETTE
of waving to grandparents through windows acknowledging the impact and expertise of Senior Director of Advancement Operations
and depending on spotty internet for work Dick Townsend’s 42-year career teaching JESSICA LEIGH BROWN
Writer
and family get togethers, some feel that more accounting, Marty Brown (HCB, ’85) and
other beneficiaries of Professor Townsend’s JILL KNIGHT
connection is not only necessary to thrive
Design and Production
but to survive. Others may find themselves expertise and devotion have memorialized
CHARLES BROOKS
looking back upon time spent this past year his impact through a “happy beginning.”
Photographer
in gardens, books, and computer screens, and Their fundraising efforts have created the
STACY ESTEP
feel more complete with less connection. Department of Accounting and Information AND SCOTT MCNUTT
Connection often hinges on “what ifs?” If Management’s first endowed chaired News Lists and Compilations
we connect with this, then we do not connect professorship, the Richard L. Townsend Haslam Magazine is published twice a year
with that. If that connects us, then this may Chair of Accounting. by the University of Tennessee, Knoxville’s
As summer comes into full swing, may Haslam College of Business and is printed by
pull us apart. In the 1990s writer-director University Printing & Mail.
Peter Howitt dedicated an entire movie to you find ways to connect with those around
the idea of connections–how losing them or you and encourage fresh outlooks and new WE WANT TO HEAR FROM YOU!
making them changes not only one person’s beginnings. Haslam College of Business
life–but the lives of all those around them. In 408 Haslam Business Building
With gratitude, Knoxville, TN 37996 - 4140
an interview with The Ringer in 2018, Howitt 865-974-3955 | haslam.utk.edu
talked about his movie “Sliding Doors” and Fax: 865-974-1766 | email: tgbrown@utk.edu
the moments that make us by saying, “It’s a
happy beginning rather than a happy ending.” FACEBOOK.COM/
HASLAMCB
We celebrate the joys of making strong
ties and finding happy beginnings in this HASLAM COLLEGE OF
BUSINESS
issue of Haslam Magazine. For our cover
subject, Shelly Sun (HCB, ’92), a struggle Stephen L. Mangum
INSTAGRAM.COM/
with her grandmother’s illness inspired a Dean and Stokely Foundation Leadership Chair HASLAMUT
business that meets a need felt nationwide– Haslam College of Business
TWITTER.COM/
HASLAMUT
2 | HASLAM MAGAZINE
DEAN’S ADVISORY
Council
MOLLY ADAMS DENNIS R. HENDRIX MINTHA E. ROACH
EVP, Chief Integration & Chairman (retired) President & CEO (retired)
Transformation Officer PanEnergy Knoxville Utilities Board
Fanatics Houston, TX Knoxville, TN
Tampa, FL
JOSEPH E. JOHNSON MARTIN ROBINSON
TOM BELL President Emeritus General Partner
Chairman The University of Tennessee Wedge Capital Management
Mesa Capital Partners Knoxville, TN Charlotte, NC
Atlanta, GA
WILMA JORDAN KING W. ROGERS, III
CHRISTI BRANSCOM Founder and CEO Attorney, Of Counsel,
Commissioner JEGI Glankler Brown, PLLC
Tennessee Department New York, NY Memphis, TN
of General Services
Nashville, TN REED A. KELLER A. DEAN SKADBERG
Vice Chairman (retired) Director of Industry Affairs
SHIRLEY PIH BROADBERY PwC (retired)
Global Finance Transformation Atlanta, GA P&G
Director (retired) Knoxville, TN
The Coca-Cola Company CHRISTOPHER P. KINNEY
AS A PROFESSIONAL SCHOOL, the Bay Harbor Islands, FL CEO GREG SMITH
Haslam College of Business at the SteelRiver Infrastructure Fund EVP, Global Operations &
RICHARD W. CARDIN Knoxville, TN Supply Chain
University of Tennessee must keep Managing Partner (retired) Medtronic
in touch with the world in which its Arthur Andersen CHRIS LaPORTE Fridley, MN
Loudon, TN Executive Vice President
graduates will function. One important FTN Financial DAVID STEVENS
PAUL A. CASTAGNA Houston, TX Private Equity
avenue for maintaining this contact is Co-Founder, Chairman, and CEO Healthcare Services
the Dean’s Advisory Council. Golden Gate Financial Group, LLC WILLIAM LEE Knoxville, TN
San Francisco, CA Principal (retired)
Since its formation in 1975, this Killarney Securities Corporation WILLIAM B. STOKELY, III
council has played an increasingly vital AGENIA CLARK Robbinsville, NC Chairman and President
President/CEO The Stokely Company
role by developing plans and strategies Girl Scout Council of A. DAVID MARTIN Knoxville, TN
to guide the college’s future. The advice Cumberland Valley Chairman & Founder (retired)
Nashville, TN Martin & Company MICHAEL STRICKLAND
and insights of these leaders have Knoxville, TN Chairman
proven invaluable to the college as it DAVID EVANS Bandit Lites
Managing Partner, Advisory JACK MILLS Knoxville, TN
strives to improve its reputation as a DHG Partner
national leader in business education. John’s Creek, GA JB&B Capital HOLLY SULLIVAN
Knoxville, TN Vice President, Worldwide
These professional and business JOSEPH A. FIELDEN Economic Development
executives meet with the deans and President/CEO JIM NEWSOME Amazon
J.A. Fielden Co. Inc. President & CEO Rockville, MD
faculty each year to discuss current Knoxville, TN South Carolina State
business issues. Through the years, Ports Authority R. ANDREW TAYLOR
DEE BAGWELL HASLAM Charleston, SC Partner (retired)
this continuing dialogue has shaped CEO, Haslam Sports Group Gerber/Taylor Associates
the college’s choices of action in order Founder & Executive Producer, JOSEPH M. O’DONNELL Memphis, TN
RIVR Media Private Investment
to improve its response to the current Knoxville, TN Boca Raton, FL MIKE WEST
Chairman
issues and the anticipated demands of
JAMES A. HASLAM, II ED PERSHING Lirio, LLC
the marketplace. Founder & Chairman Emeritus Founder, Healthcare Horizons Knoxville, TN
Pilot Company President & CEO, PYA
The Deans and Executive Knoxville, TN ALAN WILSON
Knoxville, TN
Committee of the Haslam College of Executive Chairman,
RALPH D. HEATH SHARON PRYSE Board of Directors
Business thank each member, past EVP, Aeronautics (retired) McCormick & Company
Chairman & CEO
and present, for their service and Lockheed Martin The Trust Company of Tennessee Naples, FL
Fort Worth, TX Knoxville, TN
devotion to the college.
Lifetime Member
HASLAM.UTK.EDU | 3
DEPARTMENT & FACULTY NEWS //////// THOUGHT LEADERSHIP
“Losing small businesses artificially — meaning
The Tennessean not because they’re not good at what they do,
March 18, 2021 but because they can’t survive 12 months of
extreme economic conditions — is a tragedy.”
Marianne Wanamaker, associate professor of
economics, George A. Spiva Scholar, Boyd Center for
Business and Economic Research Faculty Fellow, and
Kinney Family Faculty Research Fellow, on how COVID-19
has changed the small business landscape in the South.
“The three biggest factors I see driving trading
WalletHub shifts are interest rates, inflation expectations,
March 11, 2021 and government intervention, all of which are
highly related. We may see yields level off,
reducing asset correlations. Even then, I expect
downward pressure on valuation multiples,
threatening returns to growth stocks.”
Ryan Z. Farley, assistant clinical professor of finance,
on how the pandemic may affect stock prices.
“Ultimately, their business is based on that
Supply Chain workforce, so it’s in their interest to keep them
Brain safe and coming to work.”
March 11, 2021
Andrea Sordi, clinical assistant professor of supply
chain management, on the importance of fast-food
companies ensuring the health and safety of their
“Suppose that business is good and you could workers during the pandemic.
The Great probably double earnings over the next couple
Courses Daily of years if you could open a branch office and
April 25, 2021 manufacturing facility in another part of the
country. That sort of expansion isn’t cheap; “In the beginning, it was new and they spent
where are you going to come up with, say, SHRM.org more time with family, which was a good thing,
$300 million?” February 10, 2021 but now they feel isolated.”
Ramon Degennaro, Haslam College of Business Debbie Mackey, distinguished lecturer of
Professor in Banking and Finance, explaining the role initial management and entrepreneurship, speaking about the
public offerings can play in helping firms raise funds and rise in anxiety and loneliness among young professionals
gain access to capital markets. during the pandemic.
“Part of the use of part-time workers was “Just go through the list of things that have
Yahoo Finance related to optimizing flexibility at a time Memphis been challenges for the labor force during
April 15, 2021 when there was a lot of uncertainty. And my Commercial COVID, and you don’t have these problems with
guess is the uncertainty surrounding spending Appeal AI and with autonomous vehicles.”
patterns is starting to recede.” January 14, 2020
Bill Fox, Randy and Jenny Boyd Distinguished
Professor of economics and director of the Boyd Center
Marianne Wanamaker, associate professor of for Business and Economic Research, on the ways in
economics, George A. Spiva Scholar, Boyd Center for which the pandemic has accelerated the use of artificial
Business and Economic Research Faculty Fellow, and intelligence.
Kinney Family Faculty Research Fellow, on Walmart’s
decision to promote more of its workers to full-time
employment.
“Part of the curriculum strategy included young
Freight Waves women who are top college supply chain
“Companies are so much smarter now than December 18, 2021 students at UT to talk about why they chose
Supply Chain a year ago. Those that were not so well the field. Videos and live interaction with these
Brain prepared learned some really hard lessons students, alumni, and veterans like myself, made
April 13, 2021 over the last year.” the program fun and relevant for the girls.”
Tom Goldsby, professor of supply chain management and Mary Long, managing director of the Global Supply
Dee and Jimmy Haslam Chair of Supply Chain, on how supply
Chain Institute’s Supply Chain Forum, speaking about a
chains might be permanently changed by the pandemic.
pilot program that helps Girl Scouts earn merit badges in
supply chain.
“The requirement for the audit committee
The Wall Street to be 100 percent independent is really “We will rely on professionals across the full
Journal important. As soon as you relax it even a little, NBC News spectrum of the supply chain from the military
April 5, 2021 you start to lose the benefit.” November 9, 2020 to civilian sector manufacturers, distributors
Terry Neal, accounting and information ... transportation providers … and the health
management department head and Richard L. care organizations called upon to achieve
Townsend Chair of Accounting, speaking about this Herculean effort. Vulnerabilities at any
Coinbase. As the company prepared to go public, its
audit committee included two major shareholders, point in this chain can seriously reduce the
one of whom was a founder. effectiveness of this whole effort.”
Tom Goldsby, professor of supply chain management
and Dee and Jimmy Haslam Chair of Supply Chain, on
Pfizer’s roll-out of its COVID-19 vaccine.
4 | HASLAM MAGAZINE
&
News
D E PA R T M E N T FA C U LT Y
A grassroots
IN THE SPRING, HASLAM BEGAN COLLABO- fundraising campaign
from alumni resulted in
RATING WITH THE WALL STREET JOURNAL the department’s first
TO PROVIDE FREE ACCESS TO THE OUTLET’S endowed chair, the
FULL SUITE OF DIGITAL PRODUCTS FOR ALL Richard L. Townsend
STUDENTS, FACULTY, AND STAFF. Chair of Accounting.
Department head
Terry Neal is the first
person to hold the
#28 #26
chair. (See story,
COLLEGE-WIDE page 32.)
The Haslam College of Business Haslam came in In Poets&Quants’ 2021 rankings
No. 28 among of top business schools, the
partnered with the Precious
Prints Project in UT’s College public institu- undergraduate program rose ACCOUNTING &
of Nursing to launch a new tions and No. to 26th among public US INFORMATION MANAGEMENT
business course focused on 44 nationally in universities. The college ranked
philanthropy. Nursing student the U.S. News 64th among all institutions and
leaders are collaborating with & World Report 17th in academic experience
gs
#6
students in the course, BUAD 2021 rankings. among publics.
In Brigham Young University’s
in
nk
102 Service–Learning Seminar,
research rankings of accounting
to benefit the project, which Ra
Awards
programs for 2020, Haslam tied for No. 6
presents families that have
worldwide in archival audit research and
lost a child with a charm made
placed at No. 20 world-wide in archival
from their child’s fingerprint.
accounting research. The college’s PhD
program ranked No. 15 in archival research
and No. 3 in audit research, based on the
gs
research productivity of its graduates.
Haslam College of Business Celebrates Faculty and Staff at Virtual Awards Ceremony
in
nk
The Haslam College of Business at the University of Tennessee, Knoxville, recognized
Ra
the accomplishments of faculty and staff at its annual awards celebration. The honors
were announced during a virtual ceremony in late April.
ECONOMICS
Outstanding Staff Award for Superior Outstanding Doctoral Researcher:
Customer Responsiveness: The Richard Beem (Economics)
Financial Information Office team, Don Bruce has joined a new
including Jessica Bartlett, Lindsey Allen H. Keally Excellence in Teaching think tank established by the
Brown, Jenny Colson, Jennifer Horner, Award: Kimberly Sims (Economics) US Olympic and Paralympic
Vickie Killion, Brittany Permaul, David Committee to help sustain
Price, Ben Scheffler, Sherry Snider, Richard C. Reizenstein Outstanding Olympic and Paralympic
Juliana Troxler and Denise Watson. Commitment to Students Award: Adam programming opportunities in
Petrie (Business Analytics and Statistics) college athletics. tiny.utk.edu/IaRt3
Tim Williams Staff Award for Bruce
Professionalism: The Undergraduate Rising Star Research Award: Wenjun Zhou Celeste Carruthers received the
Advising team, including Amy (Business Analytics and Statistics) 2020 Georgescu-Roegen Prize
Anderson, Robin Anderson, Marg for the best paper in the Southern
Basehart, Kendra Duncan, Brian Francis, Vallett Family Outstanding Researcher Economic Journal for her paper
Betsy Gullett, Lindsey Herrell, Cindy Award: Chris Craighead (Supply Chain with Kara Smith, “Are ‘Education
Keyes, Megan Laverty, Beth Maney, Kam Management) Lotteries’ Less Regressive?
Manuel, Karson Marsh, Ellie Mulherin, Evidence from Texas.”
Brenda Perry, Ryessia Russell, Alysa Volunteer Spirit Award: Shay Scott
Carruthers
Schoenfeld, Dwight Stooksbury, Keima (Supply Chain Management) Marianne Wanamaker spoke to
Talley, Laura Trainer, Tracy Trentham, POLITICO’s Global Translations
Merrill Walker, Jennifer Washick and Diversity and Inclusion Award: Tom podcast about the future of
Quannah Washington. Van Dorselaer (Marketing and PSF) the global workforce in a labor
market disrupted by COVID-
Outstanding Staff Award for Innovation Bank of America Faculty Leadership 19. The Tennessean asked
and Creativity: The Technology- Award: Mark Collins (Marketing and TEE) Wanamaker why some businesses
Enhanced Education team, consisting in the South have succeeded
of Mark Collins and Jason Greenway. Martin & Carol Robinson Excellence in Wanamaker during the pandemic while others
Teaching, Research and Service Award: have not. On the first Friday of
Outstanding Doctoral Student Teacher Lauren Cunningham (Accounting and each month, Wanamaker joins
Award: Tyler Milfeld (Marketing Information Management) Sam Chandan on the Urban Lab
podcast for an analysis of the
Richard Sanders Award: Mary Holcomb George Miller Jr Award: Jody Crane current labor market.
HASLAM.UTK.EDU | 5
DEPARTMENT & FACULTY NEWS //////// FACULTY SPOTLIGHT
LAURA COLE
Investing
in People In addition to leading the center,
Cole teaches undergraduate courses
L aura Cole is passionate about
investing—in her work, her
students, and her community.
in the Smith Global Leadership
Scholars program and graduate
courses in the Physicians Executive
Cole came to the Haslam College MBA program. Teaching isn’t a career
of Business as a PhD student in for her. It’s a choice. “I love helping
finance with a background in my students learn financial skills,
wealth management. Just as she particularly the basics of personal
was finishing the program, the finance, budgeting, and making
college opened the Masters Learning investing decisions,” she says. “Those
Investment Center (MILC) and hired are things every college student
Cole to be its director. “During my should know. They can be life-
first year of running the MILC, I was changing.”
also finishing my dissertation,” Cole Cole’s research interests focus
recalls. “I don’t recommend that, but on behavioral finance, or why people
the accounting department was very make particular investment decisions.
supportive.” “I’m really interested in how gender
Some 11 years later, the MILC and generation impact investment
has grown from offering two decision making—for example, why
Bloomberg terminals to 20. “Today Gen Zs invest differently than Baby
we have 200 students using the Boomers.”
center on a weekly basis,” says Cole. In her spare time, Cole enjoys
Providing students with training riding her Vespa, spending time
they might not otherwise have access with her Boston Terrier, baking,
to is rewarding. “It’s very impactful and volunteering in the community.
for them to have Bloomberg She serves on the board for the
certification on their resume after Women’s Fund of East Tennessee, a
graduation,” she says. “It helps them nonprofit that promotes education
stand out.” Today, Cole remains opportunities for low-income women
the MILC’s director and in 2020, and girls.
she became the first recipient of the Grace Yagodich, a senior in
Sharon Pryse/The Trust Company of finance and international business,
Tennessee MILC Directorship. says working with Cole in the MILC
has left a lasting impression. “She’s
one of the most intentional people
I’ve ever met,” Yagodich says. “She
really invests in her people, and will
go the extra mile to lend a hand in the
classroom or the community.”
6 | HASLAM MAGAZINE
NEWS //////// DEPARTMENT & FACULTY NEWS
an award that supports
the advancement and
certification of qualified
NEEL CORPORATE
next-generation data GOVERNANCE
scientists. CENTER
Amazon committed $750,000 for an Lauren
endowed distinguished professorship Cunningham,
Julie Ferrara an- director of
in business analytics and statistics, nounced that Trimble is research for
which will receive a one-to-one match a new premier partner the center, and
from the Haslam family, for an and Radio Systems/ Jacob Leidner
endowment totaling $1.5 million. PetSafe is now a basic from the
partner with the Busi- Universität Würzburg presented
ness Analytics Forum. Yang Liu and co- virtually to the CFA Society of
authors published Germany about the SEC filing
"Predicting Labor review process.
BUSINESS ANALYTICS Market Competition:
AND STATISTICS Leveraging Interfirm
Network and Employee
In a Wall Street Journal exclusive,
Terry Neal, head of accounting
Skills" in Information
and information management
Systems Research. The
at Haslam and director of the
Journal of Marketing will patient wait times paper also was selected
Neel Corporate Governance
publish Michel Ballings, at a local free clinic as the Best Paper
Center, weighed in on the need
Neeraj Bharadwaj, and through a Haslam Jordan Gill was hired as Award runner-up at the
for neutrality on Coinbase’s audit
their co-authors’ paper, Scholars Program a lecturer and co-director WITS 2020 conference.
committee.
“A New Livestream research grant. of the MSBA program,
Retail Analytics while Nana Bryan joined The latest American Corporate
Framework to Assess the department as a Governance Index from The
the Sales Impact of lecturer. Institute of Internal Auditors and
Emotional Displays.” the Neel Corporate Governance
Decision Sciences Center found that, despite the
Michel Ballings received accepted Paolo Letizia unprecedented challenges of
the MSBA faculty and Wenjun Zhou’s the COVID-19 pandemic, US
“Excellence in Teaching” “Three Cobblers Worth corporate governance remained
award from MSBA the Mastermind? Bobby Mee and co-
healthy.
students for commitment Missie Bowers’ “The Crowdsourcing author Chunyan Wang’s
to excellence in the Recession’s Impact Innovation with Potential paper, "Two-Level Parallel
Flats Designs," will be
classroom and steadfast on Analytics and Data to Ensemble.” MASTERS
emphasis on curriculum Science” was MIT Sloan published in Annals of
Management Review’s Statistics. INVESTMENT
content, innovation, and Paolo Letizia and his co-
delivery. most downloaded authors’ “Governance of LEARNING CENTER
article of 2020 in the AI/ Collective Entrepreneur- Brian Stevens and
ML category. Bowers ship” was accepted by Sean Willems’ paper, Sharon Pryse
received the MSBA Journal of Economic Be- “World of EdCraft: (HCB, ’72) and
faculty “Outstanding havior and Organization. Challenges and
her investment
Commitment to Students” Opportunities in
award from MSBA firm, The Trust
Synchronous Online
students for outstanding Teaching,” is under Company of
service to students consideration for Tennessee,
beyond the classroom. publication. endowed a directorship for the
Bogdan Bichescu Masters Investment Learning Center
is working with Emre Demirkaya’s Harvard Business (MILC). As the MILC’s current
graduate student “Large-scale model Publishing Education director, Laura Cole is the first
Varun Rangnekar to selection in misspecified published a version of beneficiary of the Sharon Pryse/The
investigate the impact generalized linear mod- ChuanRen (Charles) Liu Sean Willems’ paper, Trust Company of Tennessee MILC
of technology and a els” will be published in was named an IEEE Next- “How I Designed My
Directorship. (See story, opposite.)
digital workflow on Biometrika. Generation Data Scientist, Home Teaching Studio.”
PROFESSIONAL SALES FORUM Under the leadership
of its executive director,
Having raised $5,000 or more from its five inaugural diversity scholarship Tom Van Dorselaer,
partners, E&J Gallo Winery, Lutron Electronics, PepsiCo, Ryder, and Enterprise, the Professional Sales
the Professional Sales Forum is seeking $5,000 in support from five additional Forum continues to
corporate partners that share its commitment to salesforce diversity. As part of
grow and currently
the 5 x 10 initiative, Dell Technologies and ALKU have agreed to be the newest
contributors to the forum's diversity scholarship fund. has the support of 30
corporate partners.
HASLAM.UTK.EDU | 7
Building Up
Real Estate
I n response to growing demand
from students and employers,
the Haslam College of Business is
building a real estate program. The
Department of Finance recently
hired Scott Roark as a clinical
associate professor to lead the
endeavor. With Roark at the helm,
the department has created a new
series of real estate courses, plans
for a certificate program, and a real
estate club for students.
Department Head Tracie Woidtke,
the Sharp/Home Federal Bank
Professor, said students have
expressed great interest in the plan
of study, especially in commercial
real estate. While real estate pairs
well with other offerings in finance,
she says there’s potential for
expanding to a cross-disciplinary
degree or graduate program in the
future. “We’ll continue to assess the
demand, evaluate the skills needed,
and grow from there,” Woidtke says.
Benjamin Spears, a senior in supply
chain management and finance who’s
interested in real estate development,
is ready for the new emphasis area.
“I decided to help start the real
estate club,” he says. “I’m excited
to see future students gaining more
opportunities in this area.”
8 | HASLAM MAGAZINENEWS //////// DEPARTMENT & FACULTY NEWS
“
Many of the nation’s fastest growing real estate
markets are in our geographical region. We’re
“
excited to give students high quality exposure
to the real estate industry and to alumni who are
excelling in this economic sector.
—DEAN STEPHEN L. MANGUM
Certificate Program and
Collateral
The college’s existing course in real
estate has been reworked and two
more added to create a series of three.
The first course will offer a basic
introduction to the field, followed by
to speak to students. “In the future, we also
a course on real estate finance and
hope to bring back Haslam alumni to pitch
investment analysis, and finally a
what they’re doing and drum up interest in
capstone with experiential learning
real estate careers,” says Roark. “Alumni
elements. “It’s going to be very
involvement and financial support will be
hands-on,” says Roark. “Students will
essential to what we do with real estate at
participate in at least two national
the college.”
real estate competitions as part of the
Students also have the opportunity to
capstone.” The competitions ask teams
learn the basics of ARGUS commercial real
of students to create or analyze a real
estate modeling software. Roark hopes
estate project and present their plans to
to provide a certification course for the
a panel of real estate experts.
software because those skills are in high
All three courses are now approved,
demand in the industry, particularly in
and students can take them in a series
larger real estate markets. “If students are
beginning in the fall. Upon completion
wanting to work in big markets such as
of the series, they will receive a real
Nashville or Atlanta, knowing ARGUS is a
estate certificate. The department also
necessity,” he says.
is pursuing the possibility of offering a
Case competition opportunities will
real estate collateral.
continue to be offered to interested
students, whether or not they’re enrolled in
Experiential Learning the capstone course.
Opportunities Roark sees a strong employer demand
Roark and a small group of students,
for graduates who understand real estate.
including Spears, started a real estate
“It represents about 25 percent of the
club last year with the goal of providing
economy, so there are lots of jobs out
more exposure and experiential
there,” he says.
learning opportunities for current
Stephen L. Mangum, dean and Stokely
students. In their bimonthly meetings,
Foundation Leadership Chair, notes that
the club invites real estate professionals
Haslam has a geographic advantage in
the field. “Many of the nation’s fastest
growing real estate markets are in our
region,” Mangum says. “We’re excited to
give students high quality exposure to the
real estate industry and to alumni who are
excelling in this economic sector.”
HASLAM.UTK.EDU | 9DEPARTMENT & FACULTY NEWS //////// NEWS
1,400
BOYD CENTER FOR
The department
now has more ECONOMIC RESEARCH
than 1,400 students (up from 1,200 last
year) making it UT’s No. 1 major for three
years in a row.
Registration is now open for the SCM
Leadership Academy, a 14-week
program that develops managers,
directors, and other key stakehold- Bruce Permaul
ers into supply chain leaders through
The Boyd Center launched a new website
Haslam's industry-leading supply
for Business and that aims to make the
chain curriculum the peer connec- Economic Research lab’s research about
tions and group learnings from inter- named Don Bruce higher education in
action with faculty formed during the and Brittany Permaul Tennessee simple to
class. tiny.utk.edu/scmacademy In Memoriam its new associate
director and assistant
access and easy to
understand.
Mary Holcomb, Gerald T. Niedert director, respectively.
SUPPLY CHAIN Professor of Supply Chain
Boyd’s Larry Kessler and
A survey conducted the
Boyd Center indicated
MANAGEMENT Management and Martin and Jean
Matt Murray are lending that Tennessee business
Mills Faculty Research Fellow their expertise to the leaders continue to
in the department of supply Substance Misuse be more optimistic
Supply chain management faculty continue chain management, died Friday, Community of Scholars, about the state’s
to be go-to sources for supply chain trade a research collective economic outlook than
February 12, 2021. Born and raised
and mainstream publications, being focusing on issues the nation’s, while in
quoted in media such as Freight Waves, in Oak Ridge, Holcomb received related to opioid use. another report, the
DC Velocity, Supply Chain Brain, NBC News, her bachelor’s, master’s, and tiny.utk.edu/EF8g6 center said positive,
and the Memphis Commercial Appeal, doctorate degrees from UT. A if sporadic, economic
among others. growth is expected
true Vol for life, she taught at UT Tennessee
Postsecondary over the next year for
In a column for The for more than 28 years.
Evaluation & Analysis the state.
Wall Street Journal,
If you would like to join UT in Research Lab
Alan Amling explained
(TN-PEARL), In a third study, the Boyd
that distribution honoring the life and legacy of a partnership of the Center reports that the
changes during Mary Holcomb by supporting Boyd Center, the percentage of uninsured
COVID-19 may be
the newly established Dr. Mary C. Peabody College of children in Tennessee
pushing parcel
Amling
Holcomb Scholarship Endowment, Education at Vanderbilt stayed low and TennCare
carriers to reexamine
University and the recipients’ satisfaction
last-mile strategies. please visit giving.utk.edu/
Tennessee Higher with the program
Holcomb Education Commission, remained high in 2020.
Four new supply chain
faculty members will
start August 1: Yemisi
Bolumole, John- GLOBAL SUPPLY
Goldsby Patrick Paraskevas, Chain Brain. In another interview, with CHAIN INSTITUTE
Alex Scott, and Jeff NeXxus UTK President, Jessica Thomas,
Trombly. Sordi discussed elements of economic and education. Randy
inclusion and supplier diversity. Boyd, president of the
Tom Goldsby spoke University of Tennessee
to local TV news Ted Stank and Stephanie Eckerd were System and founder
station WVLT about recognized by the Journal of Business and executive chairman
the challenges of Logistics in 2020—Stank as Outstanding of Radio Systems
Stank transporting, storing, Associate Editor and Eckerd as Corporation, delivered
and distributing the Outstanding Reviewer. a talk outlining four
COVID-19 vaccine. things that organizations
Kate Vitasek was named 2021 World need to be successful
Andrea Sordi, Commerce and Contracting Fellow, the The Global Supply Chain and shared a collective
clinical assistant highest accolade the not-for-profit Institute published its vision for creating the
professor of supply confers. 24th and 25th white greatest decade in UT
chain management, papers: “Advancing E2E history. Jimmy Haslam,
Eckerd discussed the Eunae Yoo partnered with Humanitarian Agile Resiliency in Supply COB of Pilot Flying J,
risks and rewards OpenStreetMap Team (HOT) to conduct Chains” and “When Is(n’t) co-owner of the Cleveland
associated with Taco research examining the relationship Blockchain Right?” Browns of the National
Bell’s decision to add between users’ experience levels and Football League, and
a major new product, two outcomes of interest to HOT and The Global Supply Chain’s the Columbus Crew SC
Beyond Meat, to its organizations that use the Tasking successful, virtual spring of Major League Soccer,
menu during the Manager: project completion and 2021 Supply Chain covered “Network
pandemic with Supply retention. https://hubs.la/H0LSWcD0 Forum was headlined Strength, Reinvention,
Yoo by two prominent Partnerships, and
figures in business Community Connections.”
10 | HASLAM MAGAZINENEWS //////// DEPARTMENT & FACULTY NEWS
Alex Ricardo Zablah was According to research scholarship as a Mark Moon won the in international
promoted to department head done by Dan Flint and representative of the 2021 Lee and Allison marketing (Journal
of marketing. PhD candidate Tyler Academy of International Herring Endowed of International
Milfield, companies Business. Hewett's 2016 Teaching Fellowship in Marketing), and
Since June of 2020, 11 peer- were more reluctant to Journal of Marketing Marketing. Charlie Noble
Zablah reviewed journal articles present positions on publication, “Brand Buzz in new product
authored by marketing social issues in their in the Echoverse,” was The marketing development
faculty and doctoral students Superbowl game-day named a finalist for the department is now (Journal of
have been accepted for advertising this year. 2021 Sheth Foundation/ home to the editor Product Innovation
publication in quality journals. Journal of Marketing or co-editor of Management).
More than a third of the Kelly Hewett was Award. these leading
published articles involve invited to join the Sheth Marketing journals: Stephanie Noble
a collaboration between Foundation Board, where Hewett and Alex Zablah Stephanie Noble in will co-chair the
department fac- she will help promote have been selected to services marketing 2021 Frontiers in
MARKETING ulty and current or initiatives related to receive the 2020 Journal (Journal of
Service Research);
Service Doctoral
former UT doctoral emerging markets and of Marketing Outstand- and Early Career
students. international marketing ing Reviewer Award. Kelly Hewett Consortium.
Annika Abell won a 2020
Association for Consumer
grants
Research grant for her Melissa Cardon was awarded a
proposed work on the Fulbright Distinguished Chair in
Flint influence of social media on Entrepreneurship and Innovation
underprivileged consumers. at Royal Melbourne Institute of
Jessica Jones received two grants: the
Abell’s digital marketing class Technology for the Spring 2022
Diversity Challenge Grant (with PhD
was featured in local news semester. She also published
student Ace Beorchia) to study Latino
for its unique approach to a new book, The Psychology
immigrant business owners in Knox
teaching students social media of Entrepreneurship: New
County, and a Project Grant from the
marketing, data analysis, Perspectives, and presented at
Hewett Community Engagement Academy.
advertising, SEO, and email the Leading the Integration of
marketing, for WearKnox. Faith & Entrepreneurship Conference, hosted virtually
com, an e-commerce site by Miami University of Ohio.
she created to help students
develop an appreciation for
digital marketing. MANAGEMENT
Moon
The Haslam College of & ENTREPRENEURSHIP
Business International Case Rittenhouse Samba
Competition Team, coached
by Eddie Armbrister, Russell Crook’s paper, “The evolution Personal Selling & Sales Management
achieved two top-three of resource-based inquiry: A review and gave a presentation at the
finishes this year. and meta-analytic integration,” Tennessee State Society for Human
Noble co-authored with PhD alumna Lara Resource Management conference.
D’Oria (HCB, ’17), was accepted at
In Memoriam Penelope "Penny" Beasley the Journal of Management. Tim Pollock pub-
was the assistant director in the Office of lished a book, How
Undergraduate Programs. She was a valued Crook David Gras published “Socially to Use Storytelling
member of Haslam for more than 15 years and oriented shareholder activism in Your Academic
served as an advisor and BUAD 100 instructor targets: Explaining activists’ Writing: Techniques
to many students. Beasley died December 23, corporate target selection using for Engaging Readers
2020, after a year-long battle with pancreatic corporate opportunity structures” in and Successfully
cancer. She is survived by her the Journal of Business Ethics. Navigating the
father, John Beasley; Heather Writing and Pub-
STAFF (sister) and Jeremy Sandell. Terry Leap’s book, Phantom lishing Processes, with Edward Elgar.
Gras Billing, Fake Prescriptions, and the
High Cost of Medicine (Cornell Jennifer Rittenhouse spoke to
honored Lauren University Press), has been the Rising Tide podcast about
Jacobs as Advisor selected as part of a National imposterism, her passion for HR
of the Year during Endowment for the Humanities and coaching, and more.
its Haslam College open-access grant.
of Business Awards Codou Samba’s paper, “Audit com-
Week. Jacobs Debbie Mackey won the mittee diversity and financial restate-
advises the Inter- Chancellor’s Award for Excellence ments,” was accepted at the Journal
Mackey
Jason Greenway of national Business Club. in Advising. She also spoke to of Management and Governance.
Haslam’s Office of the Society for Human Resource
Technology-Enhanced Shannon McCloud Management (SHRM) about the David Williams and Russell Crook’s
Education graduated with the management struggles young workers face “Unpacking the age at initial
from the Haslam and entrepreneurship during COVID-19. tiny.utk.edu/Qangc internationalization-performance
Professional MBA support staff relationship: A meta-analytic
program in 2020. passed her Certified Tim Munyon had papers accepted investigation,” was accepted at
Administrative Munyon at the Journal of Applied Social the Journal of Business Venturing
Haslam’s Office of Professional (CAP) Psychology and the Journal of Insights.
Student Engagement exam.
HASLAM.UTK.EDU | 11DEPARTMENT & FACULTY NEWS //////// RESEARCH
Cracking the
Labor Market
PREDICTING BUSINESSES’
BRAIN POWER NEEDS IS POSSIBLE
S uppose a fortuneteller could gaze into a crystal
ball and foresee which high-value employees
companies would lose to competitors in the next
Human capital competition
is not so obvious. Liu uses
the example of data scientists:
year? Could the prediction be used in taking steps to Who needs data scientists? Tech
retain valuable workers? companies, and the auto industry’s
Managers could soon have access not only to forecasts needs are growing. What may be less
like this, but also to the crystal ball that generates them. obvious is that data scientists can work
In a study in last November’s Information Systems in the agricultural industry (Consider precision
Research, Yuanyang Liu, a professor in the Department agriculture.). What makes the labor market competition
From
of Business Analytics and Statistics, and two colleagues challenging is that a firm’s competitors are not
analyzing
applied conventional data analytics tools such as data necessarily the same as its product market competitors.
scraping, text mining, network analysis, and machine past talent This is because some skills can be applied to produce
learning to publicly available information. The result? migration, different products, and a product can be produced in
The researchers mapped “human capital flow” between it’s a short different ways (e.g., natural vs synthetic diamonds,
companies including Amazon, Walmart, Ford Motor Co., step to digital camera vs smart phone). Thus, analysis of labor
and IBM from 2000-2014. predicting market competition, especially the so-called knowledge
Liu, with Gautam Pant (University of Iowa) and Olivia future worker competition, has been elusive.
R. L. Sheng (University of Utah), used data from online “Naturally, we thought about employees’ profiles
human
profiles of 89,943 employees, tracking their careers posted online: we can find their profiles, which shows
capital
across 3,467 public businesses over 15 years. Through what skills they have and where they have worked, and
this analysis, they formulated the human capital flow
flow. we can scrape them for data,” Liu says. They used search
network (i.e., tracking workers’ movement among firms) engines to search for employees of a given company,
and identified “firm-pair” similarities derived from the returning many LinkedIn profiles.
employee mobility pattern between firms. That simple search gave the analysts a static data
Using employees’ reported skill terms, they could picture of employees with certain skill sets at specific
associate a firm with its employees’ skills and identify companies in a given timeframe. By applying common
pairs of firms that have employees with similar skill sets. data analytics tools, the team moved from a single-year
This means those “firm-pairs” are likely to compete in snapshot of firms’ human capital assets to a dynamic
the same human capital pool. Their work in “Predicting view of talent movement among the companies over
Labor Market Competition: Leveraging Interfirm Network time. From analyzing past talent migration, it’s a short
and Employee Skills” utilizes these two set of information step to predicting future human capital flow, Liu says. It
to predict businesses’ future competitors for high-value can be done with the same tools his team used—publicly
employees. available data and algorithms.
Liu says that while much research has been done It’s just a question of who wants that crystal ball
on businesses’ competition in the product market, enough to expend the effort to get it. —Scott McNutt
comparatively little has been done on the labor market.
“The competitors in the cookie market, for example, Note: Yang’s team is not the first to conduct this kind of research. A
are obvious,” Liu says. “There are many different cookie data analytics firm in California conducted similar scraping to alert
its clients when employees might be seeking new jobs. LinkedIn sued,
producers, but all the cookies are on the market shelf claiming the data in their profiles was proprietary. A lower court
where the consumer can see them.” It’s clear which ruled against the social network, but the case is ongoing. Precedent in
such suits has the potential to ignite larger data ownership dust-ups
cookies are being picked and therefore easy to identify between social networks and the users who post to them.
competitors as well as which are succeeding. tiny.utk.edu/linkedindatacase
12 | HASLAM MAGAZINENEWS //////// DEPARTMENT & FACULTY NEWS
Clarence L. Vaughn, III, director of the Office of
Rankings
Diversity and Community Relations, spoke on the
importance of diversity, inclusion, and awareness
to a number of organizations and events, such as
the Regional MEDIC Board Leadership Retreat, the
Junior League of Knoxville’s Leadership series, the
#47
Professional Sales Leadership Forum, UT’s student-led In Poets&Quants’ latest rankings, the full-
Management Society, Delta Sigma Pi, and the ORNL time MBA program rose to 47th among
all US institutions and 24th among all
Women’s Leadership Conference.
US publics. Also, according to Poets&Quants, despite the
challenging environment of COVID-19, Haslam led the
country’s business schools in GMAT score improvement for
OFFICE OF DIVERSITY AND the second year in a row.
COMMUNITY RELATIONS
#19
In The Economist’s WhichMBA 2021
MBA and Business School rankings, the
At the sixth annual Women in Business, Entrepreneurship and Leader- MBA climbed to No. 19 among US public
ship Summit, hosted virtually by Haslam, female leaders (including institutions and No. 54 worldwide. It also ranks No. 7
former mayor of Knoxville Madeline Rogero) shared their knowledge worldwide for alumni rating of career services.
about issues women face in the business world.
#97
Haslam's Executive MBA program is now
ranked among the London-based Financial
The ODCR hosted a Lunch & Learn discussion titled, “Using Change as an
Times’ Top 100 international executive
Opportunity.” with guest speakers Timothy Munyon and Chancellor Donde
MBA programs. In the Times’ 2020 list, Haslam placed at
Plowman sharing best practices on transitioning and managing change.
No. 97. Only 29 US EMBA programs appeared in the top
100, and the Haslam EMBA was one of just 11 US public
institutions to make the Financial Times’ list. Additionally,
within the Times' subcategories, Haslam ranks as the No. 1
Ramon DeGennaro provided Informativeness of Management US EMBA program for overall alumni satisfaction.
MoneyGeek.com with expert Earnings Forecasts,” is forthcoming
#17
commentary for two recent studies in the Journal of Accounting Research. In the latest U.S. News and World Report
on car insurance. Best Business Schools rankings, Haslam
Matthew Serfling’s papers with placed 17th among public schools (up
Ryan Z. Farley and Laura Cole John (Jianqui) Bai and Wang Jin, five spots from 2020) and 39th among all institutions
organized a finance career panel “Management Practices and Mergers (up seven spots from 2020). Haslam’s Supply Chain
featuring alumni at Goldman Sachs. and Acquisitions” is forthcoming in Management MBA concentration marked its sixth
The panel was Management Science. Serfling also is consecutive year in the top 10.
hosted by the the recipient of the 2020 Journal of
FINANCE Tennessee Financial and Quantitative Analysis
The Princeton Review again included Haslam on its
Capital Outstanding Reviewer Award. Serfling
annual list of best full-time MBA programs.
Markets is also the 2021 recipient of the
Society student organization and Sharon Miller Pryse/Trust Company
faculty advisor, Phillip Daves. Farley Outstanding Finance Faculty Award. Modern Healthcare placed Haslam’s Physician Executive
also was featured in a WalletHub MBA program (PEMBA) and Executive MBA for
article about hedge fund holdings, Andy Puckett’s paper with David Healthcare Leadership (EMBA-HL) at the top of
gs
top stocks, new buys, and more. Cicero, Albert Wang, and Shen its annual ranking of largest program enrollment in
in
nk
Zhang, “Do Mutual Funds Exploit healthcare MBA programs.
Eric Kelley Information on Local Companies? Ra
created an Evidence from Fund-Firm Taxi
interview series Trips in NYC,” was accepted for
with friends presentation at both the Western
of the finance Finance Association Conference
department, and the China International Finance GRADUATE AND
former students,
and faculty
Conference. Puckett also is the
2021 recipient of the Dr. John
EXECUTIVE EDUCATION
colleagues about M. Wachowicz, Jr., Outstanding
issues in the Teaching Award.
finance world. Haslam held its annual celebration of graduate and professional
Many of these Scott Roark is the faculty advisor for students in conjunction with Tennessee’s Graduate Education
conversations the newly formed Real Estate Club. Week, during which more than 650 students were honored.
pertain to relevant (See story on page 8.)
career paths for In January, the undergraduate and graduate career offices
finance students. Department head Tracie Woidtke collaborated to host a Career Leadership Academy for a second
presented a talk for the Women's year in a row, although virtually in 2021. Alumni participated as Ted
David Maslar’s Fund of East Tennessee, exploring Talks speakers and five top employer partners
and Matthew the question of whether women can conduct career immersion seminars for students.
Serfling’s paper be both happy and successful in
with Sarah Shaikh, male-dominated fields. Woidtke also David Ecklund, retired lecturer and founding
“Economic was invited to join the Topic Board director of the Executive MBA – Global Supply
Downturns of the Journal of Risk and Financial Chain, received the Innovation Award from
and the Management. Second Harvest Food Bank of East Tennessee.
HASLAM.UTK.EDU | 1314 | HASLAM MAGAZINE
The Franchising Genius of
SHELLY
SUN
In less than two decades, Shelly Sun (HCB, ’92)
has built a $569 million home care company,
BrightStar Care, using a franchise model
to grow from a local business to a
national enterprise.
HASLAM.UTK.EDU | 15COVERAGE MAP: Since its start BrightStar Locations
as a single business operating in
the Chicago area, BrightStar has
expanded to operate across
75 percent of the US, totaling
345 franchises to date. 15+ 10–14 6–9 1–5 0
From Accountant Franchise Success
to Entrepreneur
S un enrolled in the University of Tennessee,
Knoxville, starting out as an engineering
W hile in a training session for new
owners and managers at a hotel she’d
invested in, Sun had an epiphany. Franchising
student but soon switching to business. As an her business model made perfect sense. “The
undergraduate, she worked part-time jobs to services we provide are so personal, you really
pay her way through school and did summer need someone in charge who knows the local
internships at DuPont and EY, gaining valuable community they serve,” she says. “Franchising
experience along the way. makes way for those local teams.”
After earning a master’s in accountancy Sun and her team laid the foundation for
in Colorado, Sun spent 10 years working for enfranchisement in 2005. Within five years,
different companies before eventually moving to the company generated more than $100
“
Chicago to take a job at an insurance company. million in revenue and served thousands of
While in the city, Sun helped her family cope families annually. Today, BrightStar Care has
with her grandmother’s illness. “We were trying 345 locations and is able to serve 75 percent of
to put together resources for her to receive the United States from one of their locations.
Franchising home care, and needed the dependability of an “Franchising has given us the opportunity to
has given exceptional care provider,” Sun recalls. “I was be local, yet scalable and consistent,” Sun says.
us the really surprised by the lack of options.” The “This type of growth would have been difficult
opportunity difficulty of the situation weighed on Sun’s mind, to achieve as a corporate entity.”
to be local, and eventually inspired BrightStar Care. Most franchise owners don’t come from
yet scalable Around the time of the 9/11 attacks when a healthcare background, but Sun says
and the transportation industry was undergoing many have personal experience with finding
consistent. major changes, she was on the move again, homecare for family members and are
This type of working for a subsidiary of United Airlines. After passionate about making a difference in their
growth would proving herself invaluable to the company, she local community. BrightStar Care has worked
have been negotiated a generous severance agreement with hard to give franchisees ongoing support to
difficult her entrepreneurial venture in mind. “That gave expand their businesses and requires everyone
to achieve as me a nest egg to start from and I already had a to become Joint Commission accredited to help
a corporate passion to pursue my idea, knowing that other ensure consistency across the country.
entity.”
families were looking for higher-level home care During the COVID-19 pandemic many
for their family members,” Sun says. “Within a BrightStar Care franchise owners have
year of being a consumer of the industry I set continued to thrive and grow, due in part
about to upend, we were the first company that to Sun’s leadership. “We pivoted to where
did homecare and staffing for both nonmedical the business was going to be, particularly in
and medical services in a way that’s led by screening and then vaccinations,” she says.
nurses.” “For example, our nurses were tracking those
Sun’s initial Chicago-based business expanded who were vaccinated to make sure there were
quickly, opening a second location in 2003 and no adverse effects. It felt really good to help
a third in 2005. BrightStar Care was poised to our franchisees make a difference and get their
scale widely using a franchise model. communities operating again.”
16 | HASLAM MAGAZINEFRANCHISING
AT HASLAM
After receiving Haslam’s Entrepreneur
of the Year Award in 2017, Sun became
involved with plans for a new program on
franchising within the college, led by the
Anderson Center for Entrepreneurship
& Innovation. Tom Graves, distinguished
lecturer and operations director for the
center, says the program will expand
the awareness of business opportunities
for new entrepreneurs. “Franchising
is an integral part of entrepreneurship
Prioritizing People and a major driver of economic growth,
creating $1.6 trillion, or about 5.8 percent
of GDP, in the United States each year.
W hen she started BrightStar Care, one of Sun’s
priorities was ensuring that nurses and
caregivers were paid adequately for their work. Today,
It’s an important opportunity for students
to be aware of, because franchisees
receive much more support than they
the company’s caregivers are consistently paid 5 to 20
“
would if they started a business from
percent more than the local market average.
Over the past year, BrightStar Care made further
scratch.”
efforts to support caregivers, purchasing $2 million Sun has partnered with Haslam faculty
of PPE including 100,000 N95 masks to distribute to in an advisory position to develop plans
franchise owners early in the pandemic. “We really try Everything for a franchising initiative. Eventually it
to do the right things for the right reasons,” says Sun. is grounded will include a certificate program and
“Everything is grounded in our core values.” in our core introductory graduate level courses.
The company also makes provision for two-way values.” Last year the college launched an
communication between franchise owners and the undergraduate course in franchising.
corporate team, hosting quarterly town hall meetings, Graves, who teaches the course, says
performance groups, an advisory council, annual the students have been engaged and
conferences for both franchisees and frontline leaders, enthusiastic. “It’s really opened their
and personalized training for new franchise owners. The eyes to the wide variety of business
goal is to clear a path to share best practices across the opportunities available under the
network. Sun credits a strong C-suite team with freeing franchise model—not just restaurants and
up her time for leadership training with new franchisees. hotels but many other types of business
She also meets periodically with several owners at a time as well.”
to learn about challenges and opportunities in their local Sun’s penchant for franchising is
markets, which allows her to prioritize resources at the reflected in the continued growth of
national level. her business, but she says her greatest
Carrying on a constant conversation with franchisees
reward is the number of families
and frontline workers means BrightStar Care’s business
BrightStar Care has been honored to
model continues to evolve. “We want to provide plenty
serve. “That’s why I started the business
of opportunities to deliver consistent messaging to
and it’s what still gives me the greatest
franchisees—and to hear what they have to tell us.”
joy, drive, and passion to keep working
as hard as I do.”
HASLAM.UTK.EDU | 17You can also read
