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 CEO
of Williams Named International Executive of the Year
The Marriott School named Keith Bailey, chairman, president, and CEO of Williams,
as the 2000 International Executive of the Year (IEY). President James E. Faust,
second counselor in the First Presidency of The Church of Jesus Christ of Latter-day
Saints, presented Bailey with the IEY Award at a banquet 17 November.
"Bailey is a man of great integrity and high moral principle," said Ned C.
Hill, dean of the Marriott School. "He is a creative genius who has built
a profitable company that has adapted well to the modern information age."
The IEY Award was established by the Marriott School in 1974 to annually honor
an outstanding executive from the public or private sector who has demonstrated
exceptional leadership and high moral and ethical standards.
Before his appointment as CEO in 1994, Bailey spent twenty-one years with Williams,
a multi-billion dollar energy and high-technology company based in Tulsa, Oklahoma.
Under his leadership, Williams reported an 88 percent increase in first-quarter
earnings in 2000. The company has also created a total shareholder return of 822
percent over a nine-year period that ended in 1999.
In 1964, Bailey graduated with a degree in mechanical engineering from the Missouri
School of Mines and Metalurgy—known today as the University of Missouri–Rolla.
In addition, he completed a degree in management development in 1978 from Harvard
University. Bailey has been inducted into the engineering halls of fame at Oklahoma
State University, the State of Oklahoma, and the University of Tulsa.
 BusinessWeek
Judges BYU MBA as Fastest Payback
Touting the fastest payback in the nation, the Marriott School is
a steal according to BusinessWeek's October 2000 ranking
of the best business schools. The magazine reports that BYU's MBA
graduates take only 3.5 years to recoup their investment in lost
work and tuition.
"Our management core and specialized tracks add a lot of value to
already talented students," said Dean Ned C. Hill. "We've
also been able to keep the cost of education comparatively low."
The Marriott School's quick payback is fueled not only by the low
tuition, but also by a 120 percent average salary increase over
pre-MBA salaries. BusinessWeek reports that this year's graduates
of U.S. MBA programs are averaging 82 percent pay hikes over pre-business
school salaries. Graduates in Europe and Canada enjoyed salary increases
of 71 percent over pre-MBA salaries.
Other U.S. schools offering a quick payback included Purdue, 3.8
years; Michigan State, 4.1 years; and Yale, 4.1 years.
In addition to snatching the return on investment crown among U.S.
schools, the Marriott School was ranked among the top seventy-five
business schools worldwide. U.S. News & World Report ranked
the school number forty-two among U.S. schools.
"The emphasis we're placing on e-business, entrepreneurship, and
international business is strengthening our programs and helping
our students compete well with graduates of other leading schools,"
Hill said. "We remain focused on our mission to develop men and
women of faith, character, and professional ability for positions
of leadership around the world."
BusinessWeek surveys students and recruiters every two years
to determine its ranking of the best programs. Graduates are asked
to rate their schools on such issues as teaching quality, program
content, and career placement. Recruiters assess student's skills
and rank schools on overall quality and the success rate of graduates.
A new component called "intellectual capital" was added to this
year's rankings. Intellectual capital measures faculty publication
in selected journals and national best-selling books. BusinessWeek's
best business school rankings are available online at www.businessweek.com.
 Virtual
E-business Center Launched
The Kevin and Debra Rollins Center for eBusiness
at the Marriott School hosted its first e-business conference 17
November. The conference opened with a ribbon-cutting ceremony to
launch the school's new e-business web site (ebusiness.byu.edu)
on the second floor atrium of the Tanner Building.
The new web site, designed and built by Marriott School students,
is "state-of-the-art," said Owen Cherrington, director of
the Rollins Center for eBusiness at the Marriott School. "Our web
site will serve as a virtual e-business center."
The site showcases students' e-business expertise, provides a forum
where students and professionals can collaborate, contains video
streaming of e-business news articles, and gives students the means
to launch their own e-business.
Former Marriott School student Josh James, cofounder and
CEO of MyComputer.com, was the conference's keynote speaker.
The conference also included a panel discussion with speakers from
Sun Microsystems, Thoughts.com, iAccess Capital, Netdocuments.com,
Nowalls.com, Trade.com, Videoaxs.com, Iomega, and Omniwhere.com.
Panel participants were invited to speak about their company's products
and services, how they're using e-business to enhance revenues,
what they're contributing to the e-business center, and how students
can take advantage of their contribution.
 Windows
95.com Founder Addresses
E-business Conference
The Kevin and Debra Rollins Center for eBusiness
hosted an E-business Day 9 February. Students and faculty gathered
to attend a forum followed by four breakout sessions led by guest
lecturers who covered various aspects of this years theme, "Dot-Coms
Shake Down: How Companies Survive, Thrive, and Expand Business Operations
on the Internet Today."
Keynote Speaker Steve Jenkins, a dot-com multimillionaire
and Marriott School graduate, focused on what he called the "Ten
Commandments of Internet Business." E-business is "just business
with a cute little 'e.' The rules don't change; implementation changes,"
he said. Jenkins' ten commandments are:
- Thou shalt be unique.
- Thou shalt improve upon the brick and mortar vision.
- Thou shalt provide a defined path through thy experience.
- Thou shalt provide an error-free online experience.
- Thou shalt use new measures to fit a new medium.
- Thou shalt listen to thy customers.
- Thou shalt protect thy clients' privacy.
- Thou shalt always be "under construction."
- Thou shalt generate a profit.
- Thou shalt be realistic.
"Fix what is broken with the business," Jenkins said. He shared
several of his business experiences in which he saw current and
potential problems that he was able to repair. He also gave tips
to students who are trying to develop their own companies. "Things
that work offline are now working online; work big, start small,"
he said. For more information on Jenkins, see Class Notes.
Other guest lectures included individuals from Kana Communications,
FlipDog.com, Trade.com, and IBM Corporation.
New Book Helps Accounting
Students Stay on Cutting Edge of
E-business
Three Marriott School professors hope their e-business
accounting book will give students the upper hand when it comes
to electronic commerce. Steven M. Glover, Stephen W. Liddle,
and Douglas Prawitt's book, E-business: Principles and
Strategies for Accountants, was written to prepare accounting
students to meet the demands of a business world being transformed
by technology. Marriott School professors will begin using the book
winter semester as a supplement.
"E-business is such a critical component of a successful business
strategy that it will become a normal and universal aspect of all
business in the near future," said Glover, associate professor of
accounting. "In order to function effectively as a valued business
advisor or assurance provider, accounting professionals need to
understand key issues associated with e-business."
Prawitt, associate professor of accounting, said the new book will
help both accounting students and professionals get up to speed
on the fundamentals of e-business quickly and efficiently. "It provides
accountants with an excellent introductory foundation they can use
to function effectively in today's economy."
E-business: Principles and Strategies for Accountants addresses
the potentially disruptive effects of e-business as well as its
opportunities and challenges in the accounting profession. It also
includes technology toolboxes in the appendices to describe e-business
terminology and technology at a more technical level.
"Professors can use this book to help integrate e-business into
an already full curriculum," said Liddle, assistant professor of
information systems. "The new book is designed to support one to
two weeks of e-business material in an accountings class."
Released in August 2000, E-business: Principles and Strategies
for Accountants, is published by Prentice Hall and is available
through all major bookstores and online booksellers.
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