Simulation can be a vehicle for testing potentially revolutionary new ideas, points out Rubin Pillay, M.D., Ph.D., assistant dean for Global Health in the UAB School of Medicine and professor of healthcare innovation and entrepreneurship at the UAB Collat School of Business. “Medicine is an evidence-based profession,” he noted. “I can’t go into the ER and start tweaking things just to see what happens. But the way health care is going, you have to be innovative just to survive. And innovation, by its very nature, is all about doing something that’s never been done before.”
That’s why Pillay is developing a “design and simulation lab” as part of the proposed UAB Center for Healthcare Innovation, “a place where anybody can feel free to come in and try out new ideas,” he explained. The approach has been pioneered by the Mayo Clinic and Kaiser Permanente, Pillay says. A nurse could use computer simulations to model a new approach to scheduling surgeries in UAB’s operating rooms, for example. Engineers and entrepreneurs could come together to test smartphone-based monitoring systems for patients. Entire medical teams could practice a new workflow in a replica patient room, without interrupting standard care.
“Not everything will work,” Pillay said. “But it’s just like the tech industry — the idea is to fail fast, cheap and forward. That’s how you learn.”
Regions Financial Corporation Chairman, President and CEO Grayson Hall was the inaugural CEO guest in the combined undergraduate capstone and MBA class, “Strategic Leadership Through the Eyes of the C-Suite,” on September 22, 2015.
Regions Financial has adopted the concept of “shared value” in its business, in which everyone shares in the benefits of an organization’s strategy. Harvard Business School professor Michael Porter, who is generally regarded as the most influential voice today on strategic thinking for business, created this concept.
Collat and the School of Medicine partnered to develop a program aiming to provide MD/MBA graduates the best possible trajectory to expand their career options, and to create future physician-executives.
The new dual-degree program will give medical students the training and education to better understand the business side of health care, through providing courses in accounting and finance, economics, marketing, management, health care innovation, operations, and supply chain management with a focus on health care, as well as information technology and business strategy with a focus on health care.
Over 30 alumni of the Collat School of Business were in attendance on September 3, 2015 when Assistant Professor Stephen A. Yoder, J.D., spoke on “Negotiation and Persuasion Skills for Internal Auditors.” The IIA is the internal audit profession's global voice and principal educator.
The Birmingham chapter of IIA is composed of internal auditors at all sizes and types of organizations in the Birmingham area, with most employed at the largest organizations, such as Regions Financial, BBVA Compass, and Protective Life.
With two Rhodes Scholars chosen from the previous six cohorts, there are high expectations for the 35-five students in the class of 2016 cohort of the Collat School of Business Honors Program. Participants in the Honors Program are selected on the basis of their academic performance in courses at the School of Business and in courses elsewhere at UAB, and on the basis of faculty and advisor recommendations.
Most of Collat School of Business disciplines are represented among the majors of the students. In addition, there are also some non-business disciplines represented from students who have majors outside of business, but who see business as a smart complement to their non-business studies. The majors of the 2016 cohort are:
• Management (9 students)
• Finance (8 students)
• Industrial Distribution (7 students)
• Accounting (4 students0
• Economics (3 students)
• Biology (1 student)
• Information Systems (1 student)
• Neuroscience (1 student)
• Political Science (1 student)
Daniel, who graduated from the UAB Collat School of Business in 2004 with a bachelor's degree in economics, is CEO of Sigma93 Capital Management, one of the half-dozen student-let companies in UAB's Innovation Lab (iLab) inside Innovation Depot. He was selected based on his involvement with companies in Innovation Depot, his engagement with the ILab and his support of Collat programs, said iLab director Kathleen Hamrick.
"He well represents the caliber of talent coming from the Collat entrepreneurship programs," said Hamrick.
Professor Stephen Yoder, JD spoke to the Alabama Chapter of the Association of Certified Fraud Examiners on August 14, 2015 on “Barriers to Good Ethical Decision-Making.” Certified fraud examiners are required to take training in ethics each year in order to maintain their certifications, and Yoder’s presentation fulfilled that requirement.
In his remarks, Yoder noted that the most common reasons for good people to make bad ethical decisions include youth, a desire to fit in, over-confidence, and over-optimism. He described how many of these conditions were present in some well-known decisions in business that are now considered unethical, such as at Ford Motor Company with its design of the Pinto in the 1970s and at Enron Corporation in the 1970s.
Yoder said, “I use many of the same examples with students here at the Collat School of Business as I use with seasoned accounting professionals in continuing education sessions. Most students have never heard of Enron, but benefit from hearing about the conditions that were present that led to the downfall of that company.”
Yoder teaches business law, ethics, strategy, corporate governance, and leadership. He is the former general counsel of a publicly-traded bank holding company.
This month, Collat School of Business student scholars are collaborating with area high school students on a research project to analyze possible solutions for economic and social disparities within Birmingham.
The Business Student Scholars Program, now in its fifth year, will focus on developing a strategic plan for the revitalization of the historic 6th District of Birmingham, including neighborhoods such as Glen Iris, Arlington-West End, Woodland Park and Five Points South.
In 2014, students involved in the program partnered with Birmingham City School System students to evaluate the 6th District’s overall well-being, ranging from education and crime prevention to housing and health disparities.
This year, a different group of students are continuing to study opportunities to improve the 6th district, with a particular focus on partnering with Birmingham Land Bank Authority and Habitat for Humanity to improve housing conditions and availability within the district.
MBA Alumnus: David Hamlin
David Hamlin, UAB MBA ’12, was enrolled in the MBA program when he received an interview with SunGard Financial Systems that landed him a job two weeks after graduation. Three years and two job promotions later, he accepted a new role with SunGard last year that included relocating to Singapore to assist with software sales in Asia-Pacific and Australia.
David attributes his career success to the valuable experience that he received in the MBA program. “UAB’s MBA program has world-class faculty that I interacted with on campus and since graduation,” says David. “The amount of real-world experience and knowledge displayed in the classroom and in case studies by professors was extremely impressive. Some professors were entrepreneurs who were able to share tips for starting, growing and owning a business. Others include world renowned managing partners and legal professionals who taught us about ethics and promoted highly effective presentations skills.”