WISCONSIN SCHOOL OF BUSINESS - Audible's Cynthia Chu Drives Growth in Digital Media
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WISCONSIN SCHOOL OF BUSINESS
FALL | WINTER 2021
IN THIS ISSUE
Audible’s
Cynthia Chu
Drives Growth in
Digital Media
Meet 11 New
Experts Shaping
the Future of
Business
Dean Sambamurthy
greets Business
Badgers who
returned to
Grainger Hall for
the traditional
Homecoming Bash
in October.
Letter From the Dean
T wo years into my role as dean, I am feeling like a
true Wisconsinite. I can pronounce Oconomowoc with
There’s a lot to be excited about, including the 11 new
faculty members who have joined us this year. I invite
ease, I eat cheese curds on the regular, and a growing you to read on page 10 about how they are energizing
percentage of my closet is red. our research environment and bringing new ideas into
It also helps that I’ve been able to experience many the classroom. These scholars will play an important role
famed Wisconsin events after months of delay due to in preparing our students to become the type of leader
the pandemic. our alumni are known for—leaders who are trusted,
In September, I gathered with 2020 graduates innovative, and resilient like Audible CFO Cynthia Chu
who returned to Camp Randall for a belated (page 18), community builder Tyler Leeper (page 06), and
commencement celebration. The following weekend, insurtech entrepreneur Kyle Nakatsuji (page 16).
I attended the Wisconsin Real Estate Alumni When I read the stories of these alumni, I see the true
Association’s biennial conference and reunion in embodiment of the Wisconsin spirit. It’s alive and well in
Madison, the Wisconsin-Notre Dame football game at the entire Business Badger community, and it tops the
Soldier Field, and the Ryder Cup at Whistling Straits. list of what makes me proud to be a Wisconsinite.
And in October, I joined hundreds of Business Badger
alumni for UW–Madison’s Homecoming—a true salute Sincerely,
to being together again.
These events have been fun, and more importantly,
they mark our ability to safely return to in-person
activities. Almost all of WSB’s classes are in person Vallabh “Samba” Sambamurthy
Photo by Paul L. Newby II
again this semester, as are the many other academic and Albert O. Nicholas Dean
extracurricular activities that make our campus thrive. Wisconsin School of Business
06
ALUMNI FEATURE
In This Issue
02 New Brand Moves WSB Forward
03 Brand Campaign Inspires With
Alumni Stories
04 School News
06 Tyler Leeper Builds Community
on Madison’s Lakes
10-15
SCHOOL FEATURE
10
The New Minds of Business:
11 Faculty Join WSB
16 Kyle Nakatsuji’s Startup Disrupts
the Insurance Market
18-21
COVER STORY
SCHOOL FEATURE Audible’s Cynthia Chu Puts
Consumers First in Digital
Entertainment
18
COVER STORY 22 Marketing Professor Aziza Jones
Explores the Big Decisions
Parents Make
24-27
SCHOOL FEATURE
Hawk Center Celebrates a Half
Century of Innovative Financial
Education
28 Class Notes
PHOTO GALLERY
32 A Return to Campus and WSB
UPDATE FALL/WINTER 2021 | 01
A BRAND NEW WAY
FALL | WINTER 2021
A New Take on the Wisconsin DIRECTOR OF ALUMNI RELATIONS
Shannon Timm (BS ’08, MBA ’19)
School of Business Brand | EDITORIAL |
MANAGING EDITOR
Y
Betsy Lundgren (BA ’03, MA ’05)
ou may have noticed that this publication looks a bit different. WRITERS
We recently refreshed the Wisconsin School of Business brand. It’s Jane Burns
given us a new look, but more than that, a redefined story. Leiah Fundell
Sure, our brand comes to life in this redesigned magazine and on our
new website, but it’s also evident in our classrooms, character, culture, | DESIGN & PHOTOGRAPHY |
and community. ART DIRECTOR AND DESIGNER
Below is our new brand anthem—a testament to the students, faculty, Shaysa Sidebottom
staff, and alumni who are the Wisconsin School of Business. And to the
right is a sneak peek of our forthcoming brand campaign. PHOTOGRAPHERS
Nancy Borowick
Narayan Mahon
Paul L. Newby II
BRAND ANTHEM | ADVISORS |
EDITORIAL
Kaylene Christnovich
Together forward. Binnu Palta Hill (BA ’97)
Rachel Lionberg
Trusted to lead. DESIGN
Chad Theel (BS ’99)
In an ever-shifting world, there’s something uniquely consistent in BRAND
the Wisconsin way, something that influences people’s lives beyond Katie Schauer
the boundaries of the classroom. Something that transcends
© 2021 Board of Regents of the University of
boundaries, that binds us together. Something deeper than a one-
Wisconsin System
size-fits-all education.
Update is published biannually.
Maybe it’s the blend of our Midwestern humility and global influence. All rights reserved.
Maybe it’s the way we can tell each student, “We see you.” Or maybe
it’s our unwavering commitment to move forward, together. PUBLISHER
Wisconsin School of Business
We are the team member everyone seeks out. You know, the one who Grainger Hall
is dependable, who delivers. The one who surpasses expectations, the 975 University Avenue
unrelenting seeker of a better path forward. Madison, WI 53706
We believe in empowering people of all backgrounds to thrive in business.wisc.edu/update
business and make businesses thrive.
University of Wisconsin–Madison is an equal
opportunity and affirmative action educator
We choose collaboration over competition. But don’t let that fool you.
and employer.
That is exactly why our teams succeed.
Cover photo by Nancy Borowick
We’ve heard some are surprised by our big ideas, tenacity, and
commitment. We’re not. Business Badgers have been impacting the
world of business for more than 100 years. In a time when the stakes
have never been higher, we are trusted to deliver, trusted to lead.
02 | UW–MADISON WISCONSIN SCHOOL OF BUSINESS
A BRAND NEW WAY
Promoting the Next Generation of
Business Leaders
I t’s time to make our story known. To share our refreshed
brand, WSB is launching the “Trusted to Lead” campaign.
The campaign, targeted primarily toward prospective
business students, will deploy video as the primary tactic,
The multichannel brand campaign celebrates a different supported by display and native ad placements, content
way of doing business through the stories of alumni who marketing, and social media.
have defined their own paths in business. They are innovators We’re giving our alumni a sneak peek into the campaign
within some of the most recognized brands and entrepreneurs with these behind-the-scenes photos of some of the featured
on a mission to disrupt industries—all driven to have an impact Business Badgers. Watch for the full campaign to unfold in
far beyond themselves. early 2022.
Sennai Atsbeha (MBA ‘09)
Photos (clockwise from top) by Jim Newberry, Michael Palzkill, Daniel Arróniz
Vice President, Brand North America
Gymshark
Jim Wuthrich (BBA ‘86) Reena Vokoun (BBA ‘98)
President, Content Distribution Founder and CEO
Warner Media PassionFit
UPDATE FALL/WINTER 2021 | 03
SCHOOL NEWS
To read more, visit business.wisc.edu/news
WSB’s new
Multicultural Center
offers diversity,
equity, and inclusion
programming
for the Business
Badger community.
WSB Opens High Rankings for
WSB Programs
Multicultural Center
A s part of WSB’s
commitment to embedding
values of diversity, equity,
professional, is director of the
center. In this role, he builds
and delivers content that
#9 WSB ranked #9 among public universities
this fall in U.S. News & World Report’s
annual rankings of undergraduate business
programs. The program ranked 19th overall.
and inclusion (DEI) into its focuses on the academic,
U.S. News & World Report also gave high rankings to
DNA, the School opened professional, social, and several WSB academic programs:
a multicultural center in emotional well-being of
Grainger Hall. WSB’s underrepresented
The Multicultural Center,
which will have its official
students and supports the
development of an inclusive #2 #3 #9
launch during the Spring leadership mindset in all Real Estate Risk and Insurance Marketing
2022 semester, will function business students.
as a hub for conversation “I am excited about the
and cocurricular
programming around
many opportunities that
lie ahead with our new #16 #21 #22
DEI, offering support to multicultural center,” says Operations Accounting Finance
Photo by Paul L. Newby II
students from historically Diaz. “As one of the few Management
underrepresented business schools to have
backgrounds by centering
their voices to promote
a dedicated multicultural
center, we are well #23 #25 #33
cultural change. positioned to foster business Management International Business
Business Analytics
Arturo “Tito” Diaz students who value diversity
(BS ‘15), a talented and will enter the workforce
In addition, QS World University Rankings rated WSB’s master’s
and experienced DEI as inclusive, trusted leaders.” program in business analytics as the #7 program in the country.
04 | UW–MADISON WISCONSIN SCHOOL OF BUSINESS
Real Estate
Professional MBA Alum Receives
Distinguished
Program Has Business Alumni
Award
Successful Fall James J. Curtis III
(MS ’76), an
Launch
esteemed real
estate alum who
passed away in
2019, has been
posthumously awarded WSB’s
W
Distinguished Business Alumni Award.
SB’s newest MBA program, business areas and go at The prestigious award recognizes an
the Wisconsin Professional their own pace until they’ve exceptional professional career, but
MBA, welcomed its first class completed four badges. is especially meant to honor those
of students this fall, with 57 Students in the inaugural alumni who have made important
professionals from around class join the School from impacts in their community, industry,
Wisconsin and the Midwest employers like Google, Target, and at UW–Madison.
CUNA Mutual, Zendesk, TDS Curtis was a legend in the real
joining the hybrid online/on-
Telecom, Wayfair, Rockwell estate industry and a cornerstone of
campus program.
Automation, John Deere, the Wisconsin real estate program.
The program begins with a
Kohler, and UW Hospital. He earned his undergraduate degree
year of core business courses
Starting with the next round from Marquette University and a
where students work together
of admissions, the Wisconsin master’s degree in real estate and
in virtual and in-person settings urban land economics from WSB.
to grow skills in leadership, Professional MBA Program is
offering accelerated degree Curtis moved to San Francisco in the
accounting, economics, late 1970s and became a rising star
marketing, and finance. After the options to qualified recent UW–
with Bank of America’s real estate
first year, students will customize Madison and Wisconsin School
investment group. In 1980, Curtis co-
the rest of their curriculum by of Business graduates.
founded the Bristol Group, building
choosing badges in specific one of the preeminent real estate
investment and development firms in
the country. Curtis was awarded the
Lifetime Achievement Award from the
Wisconsin Real Estate and Alumni
Association in 2020.
New MBA Tracks New faculty members, new
courses, and expanded advisory
Throughout his career, Curtis
chaired the Urban Land Foundation,
Equip Students for boards will support these shifts.
“The Wisconsin Full-Time MBA
served as a trustee and foundation
governor of the Urban Land Institute,
Tech Sector has always prepared students and was a lifetime member of the
to make an impact in their James A. Graaskamp Center for
WSB is evolving its full-time MBA careers from day one with its Real Estate’s advisory board. After
program to better equip students for specialization model,” says Dean Graaskamp’s death, Curtis led an
a future in the technology industry. Vallabh “Samba” Sambamurthy. informal group of alumni who were
Beginning in Fall 2022, two innovative “With these new specializations instrumental in guiding, advising, and
new tracks will be available: a and career paths, we can further financially supporting the Wisconsin
technology product marketing track prepare graduates to address real estate program. Curtis is credited
within the marketing specialization, and anticipate emerging issues in among the reasons the Wisconsin real
and a technology strategy and business with a growth, innovation, estate program is one of the best in
product management specialization. and transformation mindset.” the country.
UPDATE FALL/WINTER 2021 | 05
WATER
WORLD
Tyler Leeper builds a
community connected by a love
of Madison’s lakes
BY JANE BURNS | PHOTOS BY NARAYAN MAHON
M ost business owners
have to go well beyond
even a giant duck-shaped
paddleboat. Leeper started
working in the business as
staying afloat in order
a teenager, bought it at age
to succeed. But for Tyler
22, and has expanded it to
Leeper (MBA ’08), staying
include special events and
afloat—and helping people
day camps for kids.
do so every summer—is
“We’re in the quality of
precisely the point.
life industry, we’re not in the
Leeper is owner and
outdoor sports industry,”
president of Madison Boats,
he says. “It’s important to
which operates watercraft
understand what you’re
rental sites on three
actually selling. And it’s not
Madison lakes. Residents
always what you think it is.”
and visitors alike can enjoy
That’s part of what Leeper
the city’s most beautiful
has learned along the way
features with a kayak,
as Madison Boats has
canoe, paddleboard, or
Continued on page 08
UPDATE FALL/WINTER 2021 | 07
grown from a staff of eight
and a fleet of about 30
boats at one site to a staff
of 83 and approximately
500 boats at three sites. His
overarching goal of creating
and serving the community
took on added importance
in the past two summers as
people seeking safe outdoor
recreation during the
pandemic found respite on
Lake Wingra, Lake Mendota,
and Lake Monona.
“Nature is healing,” he
says. “We have many emails
that people shared with
us saying that it was so
important to have an outlet.
Being out on the water was
their escape from all the
fear, all the questions. It was
a little piece of normality.”
Leeper’s connection to the
water started long ago.
He grew up mostly in Madison
and his summer job through
high school and college was at
Wingra Boats not far from the
UW–Madison campus.
He earned a political science
degree from Lewis & Clark
College in Portland, Oregon, and
rather than going to go to law
or graduate school, he pitched
the idea of becoming a partner
at Wingra Boats with ideas for
expansion. Instead, the owner
offered to sell Leeper the business
because his children weren’t
interested in taking it over.
Newly graduated with just
$1,000 in the bank, Leeper made
Tyler Leeper gets the purchase work with the
to share his love
of Madison’s lakes mentorship of the former owner
with the thousands and encouragement from his
of people who rent family. A year later, Leeper made
canoes, kayaks, or a key choice to help his new
paddleboards from his
business each summer. business—he pursued an MBA
from the Wisconsin School of
Business in its entrepreneurship
program, going to school part-time
while still running his company.
“I didn’t know that I wanted to
be in business school as badly
as I did,” he says. “I needed more
knowledge to run an eight-person boat rental company.” In 2013 he expanded with
The support and resources Brittingham Boats on Monona
at WSB were game changers Bay, helping to spark a
that gave him the confidence renaissance in a troubled city
that he could lead his park. Now it’s a safe, bustling
company. Now thinking like an place frequented by anyone
entrepreneur, he recognized
how best to move forward and
from downtown workers
squeezing in a noon-hour
WHAT FLOATS
spot opportunities.
The first light bulb moment
kayak ride to yoga practitioners
on paddleboards. HIS BOAT
for Leeper came when he “It’s been so cool to see this
attended an outdoor sports community support us,” he
trade show. Despite investing says. “We have neighbors buy
in banners and an interactive memberships and they don’t
booth, no one stopped by to even like being on the water,
ask about his company. As they just want to support us.”
he walked around the show In 2016 Leeper opened
looking at cool canoes and Marshall Boats on Lake Preferred paddle
kayaks, it occurred to him Mendota, not a far paddle
that they wouldn’t do a thing from popular campus spots Leeper likes paddleboards, which are a relatively
for his business. Instead, like Picnic Point and the Union new option in the water world. “I put my son on the
he realized the mission was Terrace. In 2017 Madison front of it, I put my dog on the front of it. I like seeing
to bring people together Boats was born as the parent into the water, I like the vantage point, and I like the
and get them on the water, company for all three locations. workout I get. On a no-wind day, anybody can do it.”
fancy canoe or not. Building As an entrepreneur, Leeper
community would also be a still wonders sometimes about
good match, he realized, for where he and his company fit
how he wanted to balance in with the greater business
work and life. world. But the sight of so many
“I want a lifestyle business. people enjoying time together
That doesn’t mean it has to in some of his city’s most
be small and it doesn’t have picturesque places usually A little hideaway
to be big,” says Leeper, who answers the question. Leeper’s favorite easy paddling destination is across
has a toddler and a newborn “I have more opportunity to Lake Wingra to a spot called Big Spring. “In 10
at home. “It just has to use resources we have—the minutes you paddle into a cove and there’s a spring
match your needs because lakes, the boathouses—to make with water bubbling out of it. It was revered by the
your business is going to an impact in my community Ho-Chunk and you can just feel that it was a very
take everything you’ve got. than I can anywhere else,” he special place.”
That doesn’t matter if it’s a says. “Every few years I think,
hot dog cart in a park or a ‘Is this what I should be doing
multinational company—it with my life?’ and it always
will take whatever you’ve got.” comes down to ‘Yeah.’” ◀
“We’re in the quality of life City adventure
For a unique view of Madison, Leeper suggests
industry, we’re not in the kayaking from Wingra Boats to Brittingham Boats
by way of Wingra Creek. “You go under bridges, you
outdoor sports industry. It’s go under Park Street and Fish Hatchery Road. You
see green herons. Northern pike and muskies shoot
important to understand what by you in the water. Then you get dumped out at
Olin Park and—boom—the whole Madison skyline is
you’re actually selling.” there. It’s the billion-dollar view of Madison.”
—TYLER LEEPER (MBA ’08)
UPDATE FALL/WINTER 2021 | 09SCHOOL FEATURE
NEW
THINKERS
to Define What’s Next in Business
WSB adds 11 faculty members with future-focused
outlooks and in-demand expertise
BY BETSY LUNDGREN WITH JANE BURNS AND LEIAH FUNDELL
PHOTOS BY PAUL L. NEWBY II
L ong before “best practices” in the
business world ever become recognized
“These thought leaders are researching real-
world problems that demand solutions and
as such, chances are good they were are relevant across a number of dimensions,”
explored and tested years earlier by business says Vallabh “Samba” Sambamurthy, WSB’s
professors or PhD students. Business Albert O. Nicholas Dean. “They bring diversity
faculty—especially those at major research of thought along with the intellectual capital
institutions like UW–Madison—are forward- necessary to support the School’s growth. We
looking thinkers who can forecast trends, need the expertise these new minds bring.”
test the plausibility of ideas, and shape our Just what are these new minds thinking
understanding of what’s now and what’s next. about? Remi Daviet explores how consumer
It’s this next-generation thinking that defines decisions can be predicted using insights from
the cohort of 11 new faculty members joining neuroscience. Victoria Zhang examines how
the Wisconsin School of Business this year. social networks influence risky behavior like
10 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSthe overprescribing of opioids. Qinglai He looks at human-bot The timeline is extended—anywhere from a few months to a
collaboration in online content moderation. And that’s only the year—and candidates have multiple touchpoints, including
beginning of what these 11 new scholars and teachers bring interviews with school leadership, a presentation of recent
to WSB. research, and interaction with faculty peers.
“It’s a whole-person process,” says Terry Warfield, senior
New thinkers for ‘today’s grand challenges’ associate dean. “We need to get to know them, and likewise,
they need to get to know us because presumably they will be
Business school faculty play a big role in shaping leaders who
here for five to 10 years, if not their whole life.”
can navigate uncertainty and tackle complex programs. The
challenges facing businesses today increasingly demand “big
picture” thinkers—and that’s exactly who WSB’s new faculty are.
“We brought in scholars who operate at the convergence
“We brought in scholars
of technology, business, and society. They are thinking
about today’s grand challenges,” says Sambamurthy. “We who operate at the
historically have not looked at the intersections, the overlap in
disciplines. But society is larger than business, and this group convergence of technology,
of faculty is really motivated by those convergence points.”
Several of these new faculty come to WSB with corporate
work experience, bringing real-world relevance and
business, and society. They
understanding to their academic roles. Many are also
award-winning instructors who will add great depth to are thinking about today’s
grand challenges.”
WSB’s teaching mission. As Sambamurthy sees it, all of
this experience sets up the School’s faculty members to be
premier professional role models.
“They know business and they know how to model the
—DEAN VALLABH SAMBAMURTHY
professional behaviors our students need to see,” says
Sambamurthy. “As teachers and advisors, our faculty are
on the front lines and we know our students watch and
UW–Madison is a sought-after place to land for both new
internalize their behaviors. That’s why we place such an
and seasoned professors, with a strong reputation and
emphasis on inclusion, empathy, and trusted leadership.”
compelling professional opportunities. Faculty positions are
competitive, with more than 150 applicants applying for some
What it takes to be hired at WSB
of WSB’s positions.
Hiring in academia doesn’t follow the traditional “cover “That’s a pretty strong testament to how attractive we are,”
letter and résumé” process often used in the private sector. says Warfield.
Continued on page 12
Minjeong “MJ” Kim Research focus: Her work centers
on how different incentive systems
Assistant Professor, Accounting and affect executives’ behavior, and
Information Systems how their decisions then impact
the economy, the environment,
Before WSB: Kim earned a PhD in and the welfare of others. She
accountancy from the University became fascinated with topics
of Illinois at Urbana-Champaign, relating to executive incentives as
following undergraduate and an undergraduate. “I would have
master’s degrees at Yonsei University conversations with my father, who
in Seoul, South Korea. was a CEO at that time, about what
I had learned,” she says.
In the classroom: With her expertise
in data analytics, Kim’s accounting A different path: An earlier career
students will gain a future-focused choice for Kim was to become a
toolkit using Python and Tableau to TV producer.
help turn data into decisions.
UPDATE FALL/WINTER 2021 | 11Adding expertise in high-demand fields analytics, growing the curriculum and adding bench strength
to this in-demand, cross-disciplinary field.
Hiring 11 faculty members in one year is not the norm for
The hiring of three marketing professors reflects strategic
WSB. A typical year might see two or three new hires, with
growth in the full-time MBA program as WSB launches new
that growing to six in 2020. This year’s larger investment
tracks in technology product marketing, marketing analytics
signals growth in key disciplines that will advance the
and insights, and brand and marketing management. These
School’s strategic plan, Roadmap 2025, and support
tracks, along with a new specialization in technology strategy
important new initiatives.
and product management, underscore WSB’s need to bring in
“We hired in areas where we see significant program
scholars and teachers with future-focused outlooks who can
development,” says Warfield. “We look for people who can
keep pace with the evolving technology industry.
contribute immediately and who can really lead. When we
“Both in our business analytics and marketing programs,
consider strategic goals like becoming a top 10 BBA program
we have been able to create three new courses that we were
and growing our master’s programs, these people are going
not able to offer last year,” says Sambamurthy. “We need
to make an impact right away.”
those technology-intensive courses to be competitive with
“When we consider strategic our peers.”
In addition to developing courses, WSB’s new faculty will
add capacity for supporting the School’s three new online
goals like becoming a top 10 undergraduate degrees in marketing, management, and
human resources.
BBA program and growing An eye toward growth
our master’s programs, these With this year’s 11 new hires, WSB’s total faculty count is now
86—and soon will be growing even more.
people are going to make an “We need to grow rapidly because we have many capacity
needs,” says Sambamurthy, who has prioritized faculty hiring
since he started as dean in 2019. “Fortunately, we have
impact right away.” many generous donors who support faculty recruitment and
retention, and make it possible for us to hire at this rate.”
As WSB grows, it’s the School’s up-and-coming faculty
—TERRY WARFIELD
who will pave the path forward.
“What our new faculty are working on is state of the art. It’s
Several of WSB’s new faculty members bring expertise in emerging. It’s new thinking,” says Sambamurthy. “It’s what
data analytics, computer science, and technology. They great programs and great education are built from.” ◀
were hired to expand the School’s capacity in business
Before WSB: Ai will come Research focus: An expert in
to WSB in January 2022 macroeconomics and financial
from the University of economics, Ai researches asset
Minnesota’s Carlson School pricing and the connection between
of Management. He was also volatility and asset returns. He has
previously on faculty at Duke the rare distinction of having been
Hengjie Ai, submitted photo
University’s Fuqua School published repeatedly at the very top
of Business. level in both economics and finance.
In the classroom: Ai will teach Why Wisconsin: “A group of highly
the core finance curriculum in talented colleagues. Also, I made
WSB’s full-time MBA program, my decision in May, when the
Hengjie Ai and will teach in the PhD weather is really nice and the lakes
program as well. are beautiful.”
Professor, Finance, Investment,
and Banking
12 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSAziza Jones (BBA ’13)
Assistant Professor, Marketing
Jeffrey J. Diermeier Faculty Fellow
Returning to WSB: Jones received her
BBA in marketing and management
and human resources from the
Wisconsin School of Business. “I’m
so happy to be back at WSB to walk
these halls in a different way, with a
different energy, with a different ability
to contribute to this institution and
Ishita Chakraborty the university at large,” she says. She Remi Daviet
holds a PhD in marketing from Rutgers
Assistant Professor, Marketing Assistant Professor, Marketing
University.
Thomas and Charlene Landsberg Smith
Faculty Fellow In the classroom: She will be Before WSB: Daviet served as a
redeveloping and teaching a strategic postdoctoral research fellow at The
Before WSB: Chakraborty brand management course at the Wharton School after obtaining
completed her PhD in quant undergraduate and graduate levels. a PhD in economics from the
marketing at Yale School “I love the energy and questions that University of Toronto.
of Management. students bring to the classroom.”
In the classroom: He will help
In the classroom: She will Research interests: Jones studies prepare undergraduate and
be developing and teaching a how social factors and social identities graduate students to extract
new course on social media influence consumer behavior. She also insights from data and make
marketing. Her goal for the class researches social influence, examining informed data-driven decisions,
is to help budding marketers and concepts such as how racial identity using statistics, machine learning,
entrepreneurs understand how to influences interpersonal decision- and artificial intelligence (AI).
leverage social media to create a making and how interpersonal factors
consistent and strong brand image. can influence generosity. Research focus: In addition to
developing AI methods for data-
Research focus: Chakraborty On the weekend: On a typical Friday driven decisions, Daviet takes a
studies the development of night, you can find Jones playing the cross-disciplinary approach and
algorithmic market research piano or practicing Spanish. focuses on understanding and
tools to derive richer, more predicting consumer decisions
accurate, real-time insights from using insights from many fields,
unstructured data. She is currently including neuroscience, cognitive
exploring what drives consumers to science, psychology, genomics,
write about certain topics in reviews and economics.
and how businesses can use this
information to enhance customer Beyond the CV: Outside of work,
feedback. “I believe that business Daviet participates in capoeira,
leaders can benefit tremendously inline skating, and triathlons. He’s
from learning to structure and also a musician.
analyze complex data.”
Extra credit: She is also studying
B2B sales conversation videos to
quantify the impact of nonverbal
cues like body language and
voice on negotiation outcomes.
On Their
She speaks five languages, writes Bookshelves
poetry, and loves to travel.
Aziza Jones: Four Thousand Weeks:
Time Management for Mortals, by
Oliver Burkeman
Read a Q&A with alumna Aziza Jones on
page 22.
UPDATE FALL/WINTER 2021 | 13Emaad Manzoor
Assistant Professor, Operations and
Information Management
Before WSB: Manzoor earned a
PhD in information systems from
Carnegie Mellon University. Earlier
this year, he was recognized by the
Qinglai He University of Chicago as a rising star
in data science.
Nicholas Petruzzi
Assistant Professor, Operations and Professor, Operations and
Information Management In the classroom: He will teach Information Management
business analytics, and enjoys the
classroom because of the challenge
of “handling the curveball questions Before WSB: Petruzzi will join
Before WSB: He received her the faculty in January 2022; he is
students throw at you.”
PhD in information systems from currently at Penn State’s Smeal
the W.P. Carey School of Business College of Business, where he
Research focus: At the heart of
at Arizona State University. has been a professor and the
Manzoor’s research is persuasion
in text-based communication: department chair in supply chain
In the classroom: He’s teaching When and why do people change management. He previously had
expertise is in business analytics. their minds online? Understanding been on the faculty at the University
It’s a fulfilling role, she says, that can help lessen the impact of of Illinois at Urbana-Champaign.
because “my course helps propaganda and disinformation.
students learn actual skills and In the classroom: He turns his
land their dream career.” Beyond the CV: Manzoor’s hidden passion for learning into a passion
talent is designing logos, websites, for teaching. His greater goal,
Research focus: He’s research and t-shirts. beyond teaching the academics
examines user-generated content of supply chain management, is to
creativity, machine-human help students learn how to learn.
collaboration in content moderation,
and platform policy and polarization. Research focus: His research
“This area is so fascinating to me explores the economic implications
because online platforms have of uncertainty within the primary
become part of our lives and deeply focus areas of operations and
influence how we think and behave,” supply chain management.
she says. Recent work focuses on
content moderation and political Getting goosebumps: Petruzzi
polarization in the online community says there’s nothing quite like
the sensation that comes from
A new beginning: She looks discovery in research—it starts
forward to a post-pandemic with an “aha moment” that leads
world of more face-to-face to a flash of insight and a moment
interaction with colleagues, of clarity. “I call it ‘the Nerd Tingle,’”
students, and friends. he says.
A book for the ages: When it
Nicholas Petruzzi, submitted photo
comes to recommending a book,
Petruzzi opts for a children’s
Listen and Learn book―Frindle, by Andrew
Even experts in their field like to learn new things. Here are Clement—about creative thought
a few podcasts WSB’s new professors are listening to: and the power of words.
Stuff You Should Know | Freakonomics | Planet Money |
Hidden Brain | No Such Thing As A Fish | Talking
Machines | EconTalk
14 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSStav Atir
Assistant Professor, Management
and Human Resources
Before WSB: Atir was a postdoctoral
research fellow at the University of
Chicago Booth School of Business. She
holds a PhD in social and personality
Victoria Zhang psychology from Cornell University. Chia-Jung Tsay
Assistant Professor, Management Associate Professor, Management and
In the classroom: She will be Human Resources
and Human Resources
teaching courses on negotiations Bruce and Janice Ellig Professor in Management
and teams. A passionate teacher and
learner, Atir is inspired by the transfer
Before WSB: Zhang served as a of knowledge. “My favorite part of Before WSB: Tsay was on
postdoctoral associate at the Yale teaching is seeing students’ eyes faculty at the University College
School of Management and holds light up when they find the material London School of Management
a PhD in organizational behavior particularly cool or interesting.” for nearly 10 years. She holds
from Yale University. a PhD from Harvard University
Research focus: Atir examines how in organizational behavior and
In the classroom: She teaches people evaluate and misevaluate their psychology, as well as music.
Introduction to Managing own knowledge and learning. She
Organizations, a popular course works to address questions such as: In the classroom: She will teach
for both business and non- When do people mistakenly think they negotiation in the professional
business majors. Zhang enjoys know things they don’t know? Why and full-time MBA programs and
the opportunity to be part of her do people sometimes fail to anticipate a PhD seminar on organizational
students’ academic journeys. how much they are going to learn from behavior. A widely respected
“I want to be very encouraging to an experience? She is also interested instructor, Tsay was recognized by
my students, to help them realize in how people think of others’ Poets & Quants as a 2021 Best 40
the potential that they didn’t knowledge and expertise, especially in Under 40 Professor.
realize they had.” the context of gender, and how gender
bias can affect professional outcomes. Research focus: Tsay looks
Research focus: Zhang’s at the factors that influence
research examines behavioral how we perceive and evaluate
change, social networks, and performance. She also investigates
norm-violating practices. She the role of perception, expertise, and
studies how social networks nonconscious biases in professional
shape contentious professional selection and advancement. A
practices, specifically looking recent paper of Tsay’s featured in
at the social network dynamics Harvard Business Review found that
of high-risk prescribing in the investors were more influenced
opioid epidemic. by the “stage presence” of the
entrepreneurs’ presentations than
Looking ahead: Her future the actual pitch content itself.
research agenda includes
running field experiments and
On Their Not-so-hidden talent: Tsay is a
network interventions to create Bookshelves classical pianist and has performed
Chia-Jung Tsay, submitted photo
scalable behavioral change at Carnegie Hall, Lincoln Center,
in organizations. Stav Atir: Three and the U.S. Embassy. She holds
Men in a Boat, by degrees from the Juilliard School
Jerome K. Jerome and the Peabody Conservatory of
the Johns Hopkins University, where
she later served on the faculty.
UPDATE FALL/WINTER 2021 | 15Kyle Nakatsuji
doesn’t see any
challenge as too
big, including
disrupting the
insurance industry
with his company,
Clearcover.
Persistence Pays Off
Kyle Nakatsuji H ow many rejections does it Nakatsuji’s leadership, Clearcover
accelerates his take to stop pursuing a goal? For
Kyle Nakatsuji (MBA ’11, JD ’12),
has raised more than $200 million
in series D funding. The Chicago-
startup career there is no number. “No” is simply
a mispronounced “maybe” to the
based company has launched in
multiple markets with plans to
through unlikely founder and CEO of Clearcover,
a startup car insurance company
expand to more than 20 U.S. states
by year’s end.
odds offering a fully digitized experience
for consumers.
Before launching Clearcover in
2016, Nakatsuji was a founding
Nakatsuji has faced obstacles— member of American Family
BY LEIAH FUNDELL including an MBA that almost Ventures, the corporate venture
PHOTO BY PAUL L. NEWBY II wasn’t—but that hasn’t stopped capital arm of American Family
his rise in the highly competitive Insurance. He was responsible for
insurance market. Under sourcing, evaluating, and structuring
16 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSmore than 50 equity and debt no amount of success that will
venture capital investments feel comfortable for him.
in tech startups. It was in this “I haven’t, nor has our SUPPORTING THE
role that Nakatsuji hatched the company, earned the right UNDERDOG
idea for Clearcover, knowing to relax—and that mindset is
it was a significant risk in a intentional,” says Nakatsuji. As a former underdog athlete, Nakatsuji knows
notoriously tough regulatory “It’s evolutionary. Fear exists firsthand the hard work and dedication demanded
market dominated by massive because it has to exist. of student athletes and brings that mentality to
competitors. He decided to Courage is the choice to Clearcover’s core values.
pitch the venture to his boss at override the fear. Couple that
American Family anyway. with unflappable persistence Following the June 2021 Supreme Court decision
“I’ll never forget his face as to find a solution and that’s to eliminate the earnings cap for collegiate
he responded, ‘So you want to resilience made tangible.” athletes, Clearcover became the first auto
start a competitor in a market Nakatsuji’s path to insurance company to ink endorsement deals
where the top four leaders entrepreneurship stands with NCAA student athletes.
spend a combined $6 billion out precisely due to that
on advertising every year? unflappable persistence. “Our team knows what it looks like to face
And you want to spend barely He started law school at adversity with courage and tenacity, and to put
any money on advertising to UW–Madison after completing in the behind-the-scenes effort each day to play
instead focus on customer his undergraduate degree the long game and win,” says Nakatsuji.
experience?’” in political science, but soon
There were very few people questioned if law was the right
trying to build new insurance fit. Determined to increase
companies of their own. But his career options, Nakatsuji
for Nakatsuji—a self-described convince them to let me in.” hand with startups.
crossed the street to Grainger
underdog who honed Nakatsuji eventually got “I made my intentions
Hall to seek admission to the
qualities like humility, grit, and the “yes” he was waiting known that I wanted to get
full-time MBA program. With
resilience on the football field for, landing in the Grainger into investing and work with
no business background, no
as a walk-on receiver at UW– Center for Supply Chain entrepreneurs,” says Nakatsuji.
GMAT, not even a real job
Oshkosh—the only response Management. But getting “I prepared myself for a career
history due to his football
was “challenge accepted.” accepted was just the that I wasn’t sure I was going
commitments, Nakatsuji was
beginning. Career services to be able to have.”
began asking about jobs and After completing his MBA
“I threw myself into the career paths.
“I hadn’t thought that far
and law degree one year
apart, Nakatsuji started his
deep end and made a lot
ahead,” says Nakatsuji. career as a corporate attorney
He played catch-up by focused on tech startups, but
borrowing textbooks and he struggled to feel successful
of mistakes. You learn a auditing classes. After
meeting with a former venture
in law. His move to American
Family Ventures launched him
capitalist, Nakatsuji decided into the venture capital and
lot from failure.” he wanted to become one.
“I went back to career
startup world, and eventually
to Clearcover—just a few
services and said, ‘I want to years after hearing that first
—KYLE NAKATSUJI (MBA ’11, JD ’12) be a venture capitalist,’ and “no” when inquiring about an
they’re like, ‘That’s the one job MBA. Nakatsuji credits his
you can’t have. You have no success to the lessons learned
He saw an opportunity for experience,’” recalls Nakatsuji. from failure.
politely told “no” at the front
technology in insurance and Again, he took it as a “I threw myself into the
desk—not just once, but week
designed Clearcover around maybe. Nakatsuji spent deep end and made a lot
after week.
an app that allows policy time outside of class of mistakes. You learn a lot
“Basically, the message
holders to submit claims and trying to get real-world from failure,” says Nakatsuji.
was, ‘You aren’t remotely
payments, get paid quickly, experience—primarily “It was good fortune to have
prepared to go to business
and receive help. through UW–Madison’s Law been given opportunities to
school, find something else to
As much as Clearcover & Entrepreneurship Clinic do things that were beyond
do.’ It sounded like a maybe
is disrupting the insurance where he could learn the my capacity and learn from
to me,” says Nakatsuji. “So, I
industry, Nakatsuji says there’s ropes by working hand-in- them.” ◀
kept coming back trying to
UPDATE FALL/WINTER 2021 | 17The
COVER STORY
Sound
of
As CFO of Audible, Cynthia
Chu has seen how digital
entertainment has transformed
consumers’ lives
Success
BY JANE BURNS | PHOTOS BY NANCY BOROWICK
W hen Cynthia Chu (BBA ’99)
thinks about how much things have
While digital technology
transformed the world around Chu,
goal that sparked her initial interest
in business: problem-solving on a
changed since she graduated from it has also transformed her career. large scale in a way that impacts
college, she doesn’t have to look Chu is chief financial and growth consumers’ lives.
any farther than the phone in her officer at Audible, the market leader “When I started my career, digital
hand. It’s light years beyond the one for premium audio storytelling, media barely existed,” she says.
she remembers having when she including audio books, podcasts, “When I mentor younger employees
began her career, a chunky thing and Audible Originals that defy or people who are a year or two out
that someone today might mistake genre. A market that was once of college, I say, ‘Don’t think that you
for a walkie-talkie. traditional books on cassettes and are on a certain path.’”
“It wasn’t even a flip phone yet,” CDs has seen rapid and continual Chu’s path continues to take her
she says with a laugh as she talks growth due to digital delivery. By unexpected places, even within
about the device that was a phone riding technology’s changes over her current role that extends
and nothing more. the course of her career, Chu has beyond the CFO’s global finance
been able to continually pursue the Continued on page 20
18 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSUPDATE FALL/WINTER 2021 | 19
Cynthia Chu has
a wide range of
roles at Audible,
and she likes it that
way. “My life is not
defined by just one
function,” she says.
and accounting role. She also as a business student, Chu program at GE because of the finances of major cable
oversees Audible’s corporate knew she wanted to be in a the variety of roles in which companies, and neither were
strategy and development consumer-facing company she could gain experience. roles she sought out.
team, the business and has pursued that goal After completing the program, That doesn’t mean Chu
development/strategic throughout her career. she joined GE’s corporate doesn’t have ambition; she
partnership team, the fraud audit staff. She traveled the just has always defined it
and business assurance team, Drawn to problem-solving world working with a range differently. It’s not about
and the marketing team. of industries when one the title for Chu, it’s about
Chu grew up in Hong
“I keep telling people that particular assignment piqued excellence.
Kong, and was drawn to
I’m a jack-of-all trades and I her interest and changed the “Some people think, ‘What’s
UW–Madison by two simple
think that goes back to a lot course of her career. my next thing?’ and I never
reasons: Her best friend was
of things I learned at school,” At the time, GE owned did,” she says. “I tell those
already enrolled and the
says Chu, reflecting on what NBC. The company was I mentor, ‘Do the best job
School of Business’ strong
she gained being part of a looking at buying Universal you can now. Look for those
reputation. At first Chu had
diverse student body and and Chu was part of the team opportunities to highlight
her eye on pre-law, but
taking courses as varied as doing due diligence on the what you do.’ It’s about
statistics and accounting
accounting and literature. studio’s film business. building your skillset.”
classes caught her interest
“I appreciate the variety of “I had worked on projects
because of their problem-
things Wisconsin provided,” as varied as health care Growing her role
solving nature. She majored in
she says. “The university made and aviation, but this one
finance and marketing. Not having that specific plan
me a well-rounded individual was really appealing,” she
“I wasn’t thinking about helped Chu immediately at
and professional. My life is not says. “It resonated with me
building a business, I just Audible. The company was
defined by just one function.” because as a consumer it was
knew you had to have a growing and evolving quickly,
Chu has been with something I could connect to.”
fundamental understanding and two weeks into her new
Audible, owned by Amazon, After two director roles in
of the economics of business. job she was asked to also
since 2015. She joined the finance with what became
That’s what drew me to take over the company’s
company with 12 years of NBCUniversal, Chu rose to
finance,” she says. disparate analytics and data
entertainment industry the C-suite as CFO of Oxygen
Various consumer-facing science teams and build a
experience after financial roles Media in 2008, followed three
companies appealed to Chu global function.
at NBCUniversal, including years later with a move to
when she graduated but “You’re never going to be
the CFO of USA Network CFO of USA Network. Both
she chose to go into a two- ready for your next thing,”
and Oxygen Media. Even roles put her in charge of
year financial management she says. “It goes back to
20 | UW–MADISON WISCONSIN SCHOOL OF BUSINESSproblem-solving and being says about how consumers of why Chu was eager to W.O.M.E.N. in America, an
analytical. I break the problem are using it. be at Audible; she was also organization with a mission
down into pieces that I can “That’s what I think the intrigued by its purpose- to help the next generation of
solve. That’s a skillset that to real CFO job is—helping the driven approach to business. women leaders. Mentors have
this day helps me.” business leader and building Audible’s founder moved served a key role in her career,
Last year Chu helped the business from what the the company’s suburban Chu says, and she is eager to
lead a major product launch data is telling you,” she says. headquarters to Newark, pay it forward.
at the company—Audible “From customer behavior data New Jersey, to help spark As technology continues
Plus, which created a new to financial data, you have to urban revitalization there. The to evolve, she’s also eager to
lower-priced membership be able to connect the dots.” company’s Audible Scholars see what might come next in
tier. The genesis of the new
membership was a pricing
study Chu had commissioned,
Adapting to change
The new product launch
“Some people think, ‘What’s
which led to a reassessment
of the product line.
wasn’t the only thing that
made 2020 notable for Chu my next thing?’ and I never
Chu approached the
did. I tell those I mentor, ‘Do
and Audible. Like just about
launch the same way she every business, Audible was
has approached products upended by the COVID-19
throughout her career—with
the consumer in mind. While
pandemic. Overnight, the the best job you can now.’”
biggest uses for Audible’s
at NBCUniversal, she’d watch content―traveling and
programs from the point of — CYNTHIA CHU (BBA ’99)
commuting—went away.
view of the consumers. With The challenge for Chu
Audible, she’s continually on and her colleagues was to
the app to understand it as a discover and market other program enrolls local high a career she wouldn’t have
customer and matching the uses for the audio books and school students in paid predicted when she was a
experience to what the data entertainment Audible offers. internships and gives them Business Badger simply
“You don’t commute early professional training with looking for problems to solve.
anymore, but how about the goal that they will return “If you had asked me 20
By
listening when you’re cooking? from college to Audible or years ago if I would be a CFO
When you’re walking the other Newark employers. and the head of marketing,
dog?” she says. “We really had “A lot of the things we do I would have said no,” she
to pivot as a company. Now in the community are what says. “I have many years
draw employees to Audible,” to go in my career and I’m
the
we’re climbing back to pre-
pandemic listening level and Chu says. “We strive to excited to see what the next
we’ve built new habits, so it’s be a company that means path might be.” ◀
very exciting.” more than what we do
The potential business commercially.”
book
challenges were only part Chu is the company’s
executive sponsor of its
Black Employee Network,
an employee impact group
that asked her to serve in the
Favorite role. She is also a mentor in
Favorite place
audio book: to listen:
Favorite book: Becoming by Michelle
“Anywhere,” Chu
The Harry Potter says, adding that she
Obama. “I’m biased
series. “I read it years because I work for
Favorite place listens to more books
ago going back and Audible, but with an
to read: than she reads now
forth on the subway. “On the couch. I can because she can
audio book you can just
I love how [author relax on the sofa and multitask. “I can do
immerse yourself and
J.K. Rowling] was kick back.” laundry, I can have my
listen to Michelle Obama
able to create these ear buds in and listen
tell you her life story.”
immersive worlds.” anywhere, even when
I’m walking the dog.”
UPDATE FALL/WINTER 2021 | 21IDEAS AND INSIGHTS
The Unintended Impacts of
Life’s Big
Choices
Aziza Jones explores the decisions
that contribute to school segregation
PHOTO BY PAUL L. NEWBY II
E very decision we make is driven by our values, whether
we consciously consider them or not. This may not matter
in the bread aisle, but what about in life’s big decisions,
the ones that influence our futures—like decisions about
schools and jobs?
Aziza Jones (BBA ’13), assistant professor of marketing
and Jeffrey J. Diermeier Faculty Fellow, explores these
questions to understand how social factors influence
consumer behavior and how people use products to shape
the way they are perceived by others. She also studies
social influence, examining how racial identity impacts
interpersonal decision-making.
Recently, Jones has expanded her research to explore
how parents make school choices, how those choices
might contribute to racial segregation in schools, and
how schools can help mitigate it through strategic
marketing approaches.WSB: As a marketer, how did you come to study school differences in the way that parents are making decisions. In
segregation? most districts, schools vary in performance, commute length,
teacher quality, and demographics. Our work shows that Black
Aziza Jones: Parents now have considerable freedom to parents, for example, are more willing to sacrifice the latter
choose where they want to send their kids to school. So, my qualities in favor of superior school performance. So, if there is
colleagues and I had this idea to look at the public school a community with two schools—one top performing but with
system as a marketplace. We asked, “What are the impacts a long commute and the other slightly lower performing but
of parents having more school choice than ever before? with a shorter commute—families end up self-segregating, not
Could this be contributing to school racial segregation?” because they’re trying to avoid each other, but because of the
different weights placed on these schools.
WSB: There must be other research on school segregation.
How is this different? WSB: So, what does this mean for schools?
AJ: There’s a lot of literature on how structural issues and AJ: Marketers know that to pull someone toward a
cognitive biases can keep Black families in Black schools, brand, you have to speak to the attributes they value.
Hispanic families in Hispanic schools, etc. In marketing, we Current school marketing tends to be word of mouth.
know that when people have certain product preferences, Our research is offering that, all else being equal, schools
they tend to huddle around the same products. For should use different marketing strategies with parents of
example, Apple buyers tend to value sleek technology, while different ethnicities to help reduce segregation. Consumer
Microsoft buyers tend to value certain software and platform preferences are malleable.
capabilities. Having those preferences automatically creates
somewhat homogenous environments in terms of who’s WSB: Do your findings have implications outside
selecting which products. We used that perspective within of schools?
the school system, to ask, “Are Black and white parents
making school decisions differently, just based on school AJ: Yes. If you think about big decisions people make about
attributes such as commute length or school performance?” careers or industries—really anywhere that groups have
free choice—there is potential for self-segregating, whether
consciously or not. I think this can have an impact on the way
“It’s not just about marketing that we talk about different careers and education, including
higher education, to attract a more diverse group. It’s not just
a diverse group to attract a about marketing a diverse group to attract a diverse group,
it’s really honing in on the values that influence consumer
diverse group, it’s really honing decisions.
WSB: How does this study complement your research on
in on the values that influence social identity?
consumer decisions.” AJ: Social identities—the development of social meaning
and narratives that people understand about themselves
and others—are deeply associated with environment. If we
— AZIZA JONES (BBA ’13)
can find ways for groups like schools and certain industries
to have more integrated environments, especially by
WSB: How did you conduct the study and what did acknowledging and addressing the free choice taking place
you find? in these marketplaces, then social identities become more
complex, less caricatured overall. I hope that my research
AJ: We used a novel statistical approach to model what an will help us have a better understanding of the intersection of
environment would look like with data from Indianapolis branding, community, and consumer behavior. ◀
school districts. After eliminating the factors of structural
issues and cognitive bias, we found that there are huge Interview conducted and edited by Leiah Fundell
UPDATE FALL/WINTER 2021 | 23You can also read
