FCBE Strategic Plan

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Acknowledgements & Leadership

This strategic plan is the result of contributions made by countless students, alumni and community and corporate stakeholders of the Fogelman College of Business & Economics. Interviews were also conducted with leaders at regional peer institutions to inform our strategy by understanding the challenges and opportunities ahead of them.

Special recognition is deserved by those Dean’s Advisory Council members who attended the October 2023 council meeting to provide feedback and input to the strategy of FCBE.

Strategic Planning Task Force:

Greg Boller (Associate Dean)
Robert Garrett (Dean)
Anna Grisham (Manager, Marketing and Communications)
Susie Jaramillo (Assistant Professor, MSCM)
Alex Lindsey (Assistant Professor, MGMT)
Marja Martin-Carruth (Director, CPCD)
Pavankunmar Mulgund (Assistant Professor, MIS)
Sandra Richardson (Associate Dean)
Konstantin Sokolov (Associate Professor, FIR)
Kate Sorensen (Assistant Professor, CSOA)
Scott Vann (Assistant Professor of Teaching, MIS)
Han Yu (Assistant Professor, ECON)
Velma Zahirovic-Herbert (Professor, FIR)

Strategic Plan Framework

Strengths of FCBE

The Fogelman College of Business & Economics is part of the University of Memphis, which was recently credited the status of a Carnegie R1 institution of “very high research activity.” Consistent with the research mission and vision of the University, our faculty are motivated and rewarded for publishing high-impact research. Further, FCBE houses several centers and labs that support research in a variety of scholarly disciplines. Our internal programs that support research are augmented by powerful industry connections that facilitate our approach to research with relevance.

In terms of curricula, FCBE has garnered recognition for its programs. The U.S. News & World Report ranked our online MBA as the No. 1 in TN for Veterans. No. 2 overall online MBA in TN, and No. 58 best overall online MBA program nationally. USNWR also ranked our Professional MBA as the No. 1 part-time MBA in Tennessee. Our students also are provided an abundant set of internship and fellowship opportunities with many of the leading firms in Memphis and beyond. FCBE students have an exclusive opportunity to use our Avron B. Fogelman Center for Professional Career Development for access to personalized preparation and one-on-one training for job placement opportunities. Overall, we have built a strength regarding student education and support.

FCBE enjoys strong community support and energetic advisory boards at the college and departmental levels. Corporate partners, large and small, support FCBE and have representatives serving on the Dean’s Advisory Council and department boards. This engagement provides a connection to industry and builds relevance for our programming.

Additionally, we benefit from low tuition, a low cost of living, an abundance of first-gen students and one of the most diverse campuses in the nation.

Growth Areas for FCBE

FCBE, along with the University of Memphis, has struggled bringing people back to campus coming out of the COVID-19 pandemic. The abrupt transition to deliver courses online has not been followed by a purposeful transition to return courses and activity patterns back to face-to-face. Student preferences are directed to online classes (some of this owing to negative perceptions of safety and security near campus). Additionally, students who attend classes on-ground lack the motivation to stay in the building beyond meeting times. Faculty and staff speak with enthusiasm about being present in our building and community, but the momentum to return as a group has been slow to develop, in part because our physical space is unappealing and temperature control is unreliable.

Our curricula need to be expanded and made more current. There is a shortage of curricula that integrate technology to enhance creativity and innovation/technologies for diversified learners. We have room to improve our executive programs, including an Executive MBA program that has been on hiatus for the last several years. Finally, we are looking to expand our experiential learning in ways that align with student success and career outcomes.

FCBE needs a financial plan for a growth orientation. More staff support is needed; departmental faculty sizes are low; research funding must catch up to other R1 schools; and compensation structures are needed to “recruit, retain, reward and recognize our people” consistent with Goal 5 of the University’s strategic plan “Ascend.”

Opportunities for FCBE

The biggest current opportunity for FCBE is the building project. Having secured $25M from the State of Tennessee for renovations to the two existing buildings, we have also developed a plan to fundraise for an additional $60M to support the creation and integration of a third building in the Fogelman Business Complex. We have received early enthusiasm and support for this project, so a top strategic priority going forward will be to execute on this opportunity. A new building will provide us with space for growth in faculty, staff, programs and centers. Importantly, it will also give us the opportunity to invite and keep more students in our buildings as we serve them with improved classrooms, technologies, flexible group meeting rooms, study spaces, event spaces and food options. Not only will the new building complex catalyze our growth in enrollments, but it should also enable a stronger return to face-to-face instruction and activities as our students, faculty and staff want to be in a professional and comfortable building that welcomes them.

Secondly, the school has strong ties with regional partners, and new companies are choosing our region for operations expansions (Blue Oval City, Amazon, etc.). We can develop relationships with our regional partners to support our building, our curricula and scholarships; and our student employment opportunities. This will benefit our students and the regional partners themselves.

We also have opportunities with executive programs, workforce training and engaged scholarship to further build our relationships with our community, drive more face-to-face interactions and improve FCBE revenues.

Risk Exposure for FCBE

Declining enrollments in higher education and the demographic cliff are issues of which we are acutely aware. Although the demographic cliff is thought to not be as severe in the Mid-South as it may be in the Northeast and West Coast, we are aware this is a macro-level trend likely to affect us. We are preparing for this risk by hiring a college-level recruiter and enrollment manager, and by improving and increasing our marketing to prospective students.

Our FCBE budget is also heavily dependent on international students, particularly in our graduate programs, and the source for our international students is tightly focused. This dependence on a specific region may be a risk if the flow of students from that region were interrupted. To mitigate this risk, we are working with university-level graduate recruitment efforts to diversify our sources for prospective students.

Finally, safety is a frequently voiced concern from our stakeholders. American cities in general, and Memphis specifically, are increasingly perceived to be unsafe. We are working with campus and community leaders to invest in enhanced measures to improve the security of our physical spaces. We are also advocating for our community by sharing the message that the reality is better than the perception.

New P/T Faculty Employees

BEFORE YOUR FIRST DAY
- Finish your Pre-Hire Checklist tasks in WorkforUM.
- Activate your campus e-mail account. Learn more about e-mail account setup.
- Sign your e-contract; a link to it is in your Memphis e-mail account.
- Review the UofM's Parking information and decide what parking arrangements are right for you, if any.
- Tour the campus virtually!
ON YOUR FIRST DAY
- Provide your Form I-9 supporting documents to Human Resources (178 Administration Building) by your first day.
- Get your campus ID card made. Learn more about Campus Cards.
- Know that part-time faculty members generally receive six biweekly checks within the semester in which they are teaching.
- Complete your Direct Deposit New Employee Payroll & Employee Reimbursement Authorization form. [requires prior login to your UofM account]
AFTER YOUR FIRST DAY
- Complete Your Form W-4 [requires prior login to your UofM account]
- Review the Registrar's semester calendars.
TRAININGS TO COMPLETE
THINGS TO KNOW
- Take advantage of the TigerPerks to which you're entitled.
- Familiarize yourself with the University's holiday schedule.
- On-campus resources:
DID WE FORGET SOMETHING?
- Ask the HR Service Center for help.

New Temporary Employees

BEFORE YOUR FIRST DAY
- Finish your Pre-Hire Checklist tasks in WorkforUM.
- Sign your e-contract; a link to it is in your Memphis e-mail account.
- Activate your campus e-mail account. Learn more about e-mail account setup.
- Review the UofM's Parking information and decide what parking arrangements are right for you, if any.
- Tour the campus virtually!
ON YOUR FIRST DAY
- Provide your Form I-9 supporting documents to Human Resources (178 Administration Building) by your first day.
- Attend the online orientation session that was e-mailed to you as part of your e-contract hiring process.
- Get your campus ID card made. Learn more about Campus Cards.
- Know your pay schedule by reviewing the University's Payroll information.
- Complete your Direct Deposit New Employee Payroll & Employee Reimbursement Authorization form. [requires prior login to your UofM account]
AFTER YOUR FIRST DAY
- Complete Your Form W-4 [requires prior login to your UofM account]
- Learn how to complete & submit your bi-weekly time sheet. Step-by-step instructions start on Page 6.
TRAININGS TO COMPLETE
THINGS TO KNOW
- Take advantage of the TigerPerks to which you're entitled.
- Familiarize yourself with the University's holiday schedule.
- On-campus resources:
DID WE FORGET SOMETHING?
- Ask the HR Service Center for help.

New Graduate Assistants

BEFORE YOUR FIRST DAY
- Sign your e-contract; a link to it is in your Memphis e-mail account.
- Tour the campus virtually!
ON YOUR FIRST DAY
- Provide your Form I-9 supporting documents to Human Resources (178 Administration Building) by your first day.
- Know your pay schedule by reviewing the University's Payroll information.
- Complete your Direct Deposit New Employee Payroll & Employee Reimbursement Authorization form. [requires prior login to your UofM account]
AFTER YOUR FIRST DAY
- Complete Your Form W-4 [requires prior login to your UofM account]
- If you're a non-exempt graduate assistant (meaning you are paid by the hour), learn how to complete & submit your bi-weekly time sheet. Step-by-step instructions start on Page 6.
TRAININGS TO COMPLETE
THINGS TO KNOW
- Take advantage of the TigerPerks to which you're entitled.
- Familiarize yourself with the University's holiday schedule.
- On-campus resources:
DID WE FORGET SOMETHING?
- Ask the HR Service Center for help.