Gies College of Business

Gies College of Business is the business school of the University of Illinois at Urbana–Champaign. The school offers on-campus undergraduate program, on-campus specialized masters program, Ph.D. program and online programs (MBA, Master's in Accounting, and Master's in Management). The school and its Department of Accountancy are separatedly accredited by the AACSB International.[2]

University of Illinois Gies College of Business
Former names
College of Commerce and Business Administration
University of Illinois College of Business
TypePublic business College
Established1915
EndowmentUS$87.4 million (2007)[1]
DeanJeffrey R. Brown
Undergraduates3,140 students
Postgraduates3,074 students
Location
Champaign
,
Illinois
,
United States

40.1038°N 88.2309°W / 40.1038; -88.2309
AffiliationsUniversity of Illinois
Websitegiesbusiness.illinois.edu

As of 2020, there are over 70,000 Gies Business alumni worldwide,[3] including several Fulbright scholars.[4][5][6] In 2013,[7] 2014 and 2016,[8] the college was ranked among top 5 sources of CFOs to Fortune 500 and S&P 500 firms.[9][10]

History

The university senate approved the College of Commerce and Business Administration on June 9, 1914 at the request of [David Kinley], a university vice president who would later serve as president of the University of Illinois.[11] The college was officially formed on April 27, 1915 through a vote of the University of Illinois Board of Trustees. The college began with three departments: Economics, Business Organization and Operation, and Transportation.[12]

Since 2015, Gies College of Business has partnered with Coursera to offer online MBA program and an online MSA program. The school started with 113 students in the beginning for the online programs and later grown to more than 3,200[13] degree-seeking students[14] from 46 states in United States and more than 90 countries[15] in the world. The selectivity and acceptance rate to the program initially was 20.9%[16] and is currently at 53%.[17]

In 2019, the school announced that it was suspending its on-campus full-time MBA, part-time MBA, and executive MBA.[18] The online program has been termed by media and nationally as a "breakthrough".[19]

College naming gifts

In 2017, alumnus Larry and Beth Gies donated US$150 million to the school, which was renamed the Gies College of Business in their honor.[20][21][22] In 2020, alumnus Don Edwards donated US$10 million[23][24] and the business school also further received a pledge in 2020 for $2.5 million for construction of shared instructional facility.[25]

Campus
Main article: Business Instructional Facility
David Kinley Hall, June 2003.

Gies College of Business is located in Champaign, Illinois. The campus is located around the intersection of Gregory Street and Sixth Street. This is the current home of Gies College of Business. When the college was first formed, however, it occupied the Commerce Building, now the East half of the Administration Building on the Main Quad.[11] The Commerce building, dedicated in 1913, was built at a cost of $100 thousand.

The college currently occupies three buildings: Wohlers Hall, Business Instructional Facility (BIF), and the Irwin Doctoral Study Hall. This area is known as the Business Quad and is considered part of the South Campus.

Wohlers Hall, formerly known as Commerce West, was built in 1963.[26] Albert H. and Jane Wohlers provided a $6 million naming gift in 2000 for renovations.[27]

The Business Instructional Facility (commonly referred to as "BIF"), approved by the UI Board of Trustees on July 14, 2004, stands opposite of Wohlers Hall across Sixth Street.[28] The $62 million project, designed by architect Cesar Pelli, is LEED-certified because of its "green", environmentally friendly elements.[28][29]

Academic departments

Gies College of Business houses three departments: Accountancy, Business Administration, and Finance.

Accountancy
Wohlers Hall during the Spring of 2004.

The Department of Accountancy was founded in 1953.[30]

The University offered courses in accounting before the creation of the University of Illinois at Urbana–Champaign College of Business. The courses in the university were offered through the Department of Economics from 1902 to 1915.[31] The college began the first PhD program in 1937 and has graduated more accountancy PhD candidates than any other accountancy department in the United States.[31] After the formation of the college, the accountancy program was moved into the Department of Business Organization until the Department's reorganization in the 1950s.

In 1919, H. T. Scovill helped establish the Beta Alpha Psi accounting honor society.[31]

Business Administration
The Business Instructional Facility during the Fall of 2008.

The Department of Business Administration was founded in 1968 through the mergers of the Department of Industrial Administration and Marketing and the Graduate School of Business Administration.[30]

Finance

In 1957, the UI Board of Trustees approved the Dean's proposal to create a Department of Finance.[30]

The MSF program began in 1958.[32]

Academies and centers

University of Illinois-Deloitte Foundation Center for Business Analytics

The University of Illinois-Deloitte Foundation Center for Business Analytics was established on October 25, 2016 thanks to a $5 million gift from the Deloitte Foundation and Deloitte's retired and current partners, principals, managing directors and employees.[33]

Illinois MakerLab

The Illinois MakerLab is the world's first business school 3D printing lab located on the third floor of the Business Instructional Facility. After opening in Spring of 2013, the MakerLab has provided printing, custom designing and prototyping, educational, and other related services for both the Urbana-Champaign and University of Illinois community. The lab is equipped with over 20 Ultimaker 3D printers and is run by undergraduate and graduate students. The lab was co-founded by Aric Rindfleisch and Vishal Sachdev.[34]

Origin Ventures Academy for Entrepreneurial Leadership

The Origin Ventures Academy for Entrepreneurial Leadership is responsible for cross-campus and multidisciplinary programs for entrepreneurial students from all backgrounds including the award-winning iVenture Accelerator and Illinois Social Innovation. The Academy for Entrepreneurial Leadership was established in 2004. In 2018, Bruce Barron (BS ’77) and the REAM Foundation providing a naming gift to create the Origin Ventures Academy for Entrepreneurial Leadership. The REAM Foundation gift was made in honor of Steven Miller (BS ’87), who joined Barron in co-founding Origin Ventures, a venture capital firm in Chicago.[35]

Rankings

In 2019, Public Accounting Report’s Annual Professors Survey has ranked the college under top 3 for undergraduate,[36] graduate,[37] and Ph.D. accounting programs.[38]

Undergraduate

  • #4 best 2018 employment records[39]
  • #19 undergraduate business school[40]
  • #9 public undergraduate business school[41] the first ranked in digital marketing

Graduate

  • #47 MBA (Masters in Business Administration)[42]
  • #2 Accountancy[43]

Overall

  • #1 in US for Accountancy and Business Inclined research and publications and is placed among the top 10 business colleges in the world[44]

Notable people

Alumni

Gies College of Business has many notable alumni. Alumni are denoted by their area of study: accountancy (ACCY), business administration (BADM), finance (FIN), or general/unassigned (GEN) or MBA.

Academia

Business

Government and politics

Armed Forces

Sports

Faculty

See also

References
  1. "Businessweek 2008 College Profile:University of Illinois". Retrieved April 14, 2008.
  2. "University of Illinois at Urbana-Champaign, Gies College of Business". Association to Advance Collegiate Schools of Business. Retrieved April 30, 2020.
  3. "Gies College of Business Alumni". University of Illinois at Urbana–Champaign. Retrieved May 1, 2020.
  4. "U of I students, alumni awarded Fulbright grants 2020". University of Illinois at Urbana-Champaign. Retrieved June 12, 2020.
  5. "U of I students, alumni awarded Fulbright grants 2019". University of Illinois at Urbana-Champaign. Retrieved June 12, 2020.
  6. "Eleven U. of I. students, recent alumni offered Fulbright grants 2018". University of Illinois at Urbana-Champaign. Retrieved June 12, 2020.
  7. "Big Ten tops all conferences in producing CFOs". Journal of Accountancy. Retrieved June 6, 2020.
  8. "Big Ten produced the most sitting CFOs: 5 things to know". Becker's Hospital Review. Retrieved June 6, 2020.
  9. "Crist Kolder Associates - Volatility Report 2014 (Archived)" (PDF). CristKolder Associates. Archived from the original (PDF) on June 6, 2020. Retrieved June 6, 2020.
  10. "Crist Kolder Associates - Volatility Report 2016 (Archived)" (PDF). CristKolder Associates. Archived from the original (PDF) on June 6, 2020. Retrieved June 6, 2020.
  11. "Department of Economics, University of Illinois at Urbana-Champaign: History". Archived from the original on May 17, 2008. Retrieved May 19, 2008.
  12. "UIUC Library Archives: Business". Archived from the original on March 19, 2005. Retrieved September 5, 2006.
  13. "These MBA Programs Are As Good Or Better Than Those Ranked By U.S. News". Forbes. Retrieved May 1, 2020.
  14. "Where MBA Demand Is Exploding". Forbes. Retrieved April 29, 2020.
  15. "Class Profile - iMBA". University of Illinois at Urbana–Champaign. Retrieved May 8, 2020.
  16. "2016 Report to Senate Educational Policy Committee" (PDF). University of Illinois at Urbana–Champaign. Retrieved May 8, 2020.
  17. "Gies College of Business - iMBA Facts". University of Illinois at Urbana–Champaign. Retrieved July 2, 2020.
  18. "U of I to end on-campus MBA classes". Crain's Chicago Business. Retrieved April 29, 2020.
  19. "Breakthrough: A Top 50 MBA For $20,000". Poets&Quants. Retrieved April 29, 2020.
  20. "Couple donate $150 million to University of Illinois in its largest gift ever". Chicago Tribune. Retrieved April 29, 2020.
  21. "Gies' $150M gift largely funding UI business scholarships". The News-Gazette (Champaign–Urbana). Retrieved April 29, 2020.
  22. "University of Illinois receives its biggest gift ever—$150 million". Crain's Chicago Business. Retrieved April 29, 2020.
  23. "Gies Business alumnus donates $10 million". The Daily Illini. Retrieved June 1, 2020.
  24. "$10M gifted to UI, $8M for Gies Business scholarships". WAND. Retrieved June 1, 2020.
  25. "Shebik gift to boost Gies south campus profile". Gies College of Business. Retrieved October 17, 2020.
  26. "Wohlers' Generosity to Fund Reconstruction of Commerce West" (PDF). Retrieved June 13, 2008.
  27. "Wohlers Hall to be dedicated Sept. 21". Retrieved June 13, 2008.
  28. "Seventy Third Report: The Board of Trustees" (PDF). University of Illinois. 2006: 373–374. Cite journal requires |journal= (help).
  29. "Business Instructional Facility Home". Archived from the original on September 15, 2006. Retrieved April 18, 2008.
  30. "University of Illinois Board of Trustees Archives". Retrieved April 14, 2008.
  31. Bedford, Norton M. (1997). "A History of Accountancy at the University of Illinois at Urbana-Champaign" (PDF). Center for International Education and Research in Accounting. Retrieved May 22, 2008. Cite journal requires |journal= (help)
  32. "MSF Program recognized as CFA Program Partner". Retrieved April 11, 2008.
  33. "The University of Illinois and Deloitte Foundation establish industry leading center for analytics education". College of Business News. October 25, 2016. Retrieved January 9, 2019.
  34. "About Us".
  35. "Origin Ventures Academy for Entrepreneurial Leadership | Gies College of Business | U of I". giesbusiness.illinois.edu. Retrieved October 15, 2019.
  36. "38th Annual Professors Survey - 2019 : 2019 Top 50 Undergraduate Accounting Programs" (PDF). W. P. Carey School of Business. Retrieved June 10, 2020.
  37. "38th Annual Professors Survey - 2019 : 2019 Top 50 Master's Accounting Programs" (PDF). W. P. Carey School of Business. Retrieved June 10, 2020.
  38. "Public Accounting Report 2018" (PDF). W. P. Carey School of Business. Retrieved June 10, 2020.
  39. Byrne, John (January 12, 2019). "Best Business Schools For Landing A Job Right Out Of School". Poets&Quants for Undergrads. Retrieved January 30, 2019.
  40. Allen, Nathan (December 12, 2018). "Wharton Repeats As Top-Ranked P&Q Undergraduate Business School -". Poets&Quants for Undergrads. Retrieved January 30, 2019.
  41. "Gies ranked #9 public undergraduate business program".
  42. "University of Illinois--Urbana-Champaign". Archived from the original on August 9, 2018. Retrieved December 30, 2019.
  43. "Best Accounting Programs". Archived from the original on March 14, 2017. Retrieved December 30, 2019.
  44. "AllAccounting Research Rank". byuaccounting.net. Retrieved January 30, 2019.
  45. "Maureen McNichols - Professor and Associate Dean, Stanford GSB". Stanford Graduate School of Business.
  46. "University of Illinois Office of Public Affairs List of Prominent Alumni". Archived from the original on October 11, 2008. Retrieved April 18, 2008.
  47. "Claudia Saran - Chief Culture Officer, KPMG in the U.S." KPMG.
  48. "Alumni Achievement Award". University of Illinois Alumni. University of Illinois Alumni Association. Retrieved December 13, 2015.
  49. "UI Alumni Association". uiaa.org.
  50. "Alfred G. Harms, Jr., Vice Admiral, U.S. Navy (Ret.) - LHPS President". Lake Highland Preparatory School.
  51. "National Women's Hall of Fame Biography: Wilma Vaught". Archived from the original on June 13, 2002. Retrieved April 18, 2006.
  52. "Illinois Athletics – Josh Whitman". Retrieved May 4, 2018.
  53. "Jagdish Sheth to receive honorary degree from Illinois". Archived from the original on November 6, 2020. Retrieved November 6, 2020.

Further reading
  • Orta, Andrew. Making Global MBAs: The Culture of Business and the Business of Culture. (Univ of California Press, 2019; ISBN 9780520974258)
  • Hoxie, Frederick E. The University of Illinois: Engine of Innovation. (University of Illinois Press, 2017; ISBN 9780252099328)
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