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Sam M. Walton College of Business

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Coordinates: 36°03′55″N 94°10′28″W / 36.06531°N 94.17434°W / 36.06531; -94.17434
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Sam M. Walton College of Business
TypePublic
Established1926
Parent institution
University of Arkansas
DeanMatthew A. Waller
Students6,132 (2016)[1]
Undergraduates5,675 (2016)[1]
Postgraduates457 (2016)[1]
Location
Fayetteville
,
Arkansas
,
U.S.

36°03′55″N 94°10′28″W / 36.06531°N 94.17434°W / 36.06531; -94.17434
AffiliationsUniversity of Arkansas
Websitewalton.uark.edu

The Sam M. Walton College of Business (Walton College or Walton) is the business school at the University of Arkansas, a public research university in Fayetteville, Arkansas. Created in 1926, the college is the second-largest college at the University of Arkansas, with over 5,000 undergraduate students as of Fall 2016. Walton College offers undergraduate, master's, and doctoral programs and is known nationally for its strong programs in retail, finance, information systems, and supply chain management. U.S. News & World Report consistently ranks Walton College among the top business schools in the country. The college has a close relationship with Walmart Stores, Inc., based in nearby Bentonville, Arkansas, and related vendor community.

History

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The School of Business Administration was founded in 1926[2] by Harvard graduate Charles C. Fichtner, who became the college's first dean. The original curricula covered accounting, banking, finance, general business, industrial management, and marketing. The college gained accreditation from the Association to Advance Collegiate Schools of Business, also known as AACSB International, in 1931.[3]

A $100,000 donation from business owner Barney Lewis, class of 1934, helped establish a professional development program at the college that would later become the Leadership Walton program. In 1996, the Donald W. Reynolds Foundation gifted the college $6.7 million, which funded the Reynolds Center for Enterprise Development.[4]

Eponym

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Sam Walton in 1936

The college is named after the founder of Walmart Stores, Inc., Sam Walton, when in October 1998, the Walton Family Charitable Support Foundation made a $50 million upfront cash gift.[5] The company is headquartered in nearby Bentonville, Arkansas, and employs hundreds of Walton College graduates. This was the largest ever given to a public business college at the time. This established the "Sam M. Walton College of Business Administration", but the name was shorted to the "Sam M. Walton College of Business" in 2000.

Leadership

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The College of Business has had 10 deans since 1926, and two interim deans.

  • Charles C. Fichtner (1926–1940)
  • Karl M. Scott (1941–1943)
  • Paul W. Milam (1944–1966)
  • Acting Dean Merwyn G. Bridenstine (1966–1967)
  • John P. Owen (1967–1983)
  • Lloyd Seaton (1983–1989)
  • Stan Smith (1989–1992)
Dean Matt Waller in 2018
  • Interim Dean Thomas McKinnon (1992–1993)
  • Doyle Z. Williams (1993–2005)
  • Dan L. Worrell (2005–2012)
  • Eli Jones (2012–2015)[6][7]
  • Matthew A. Waller (2015 to 2023)[8][9]
  • Brent Williams (Interim Dean August 2023, named as Dean January 2024)[10][11]

Departments

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Two Walton College buildings, with the Ozark Mountains in the background
  • Department of Accounting
  • Department of Economics
  • Department of Finance
  • Department of Information Systems
  • Department of Management
  • Department of Marketing
  • Department of Strategy, Entrepreneurship, & Venture Innovation
  • Department of Supply Chain Management

Rankings

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Walton College’s undergraduate business program is ranked 39th in the nation and the graduate program is ranked 68th by U.S. News & World Report.[12] Poets&Quants ranks the business school 73rd in North America based on research activity.[13] The Princeton Review lists the Walton M.B.A. among the best M.B.A. programs in the country, along with ranking Walton College of Business #35 in the nation for best graduate entrepreneurship programs. It is also ranked #4 for Top South Entrepreneurship: Grad.[14] The Wall Street Journal ranks the Walton M.B.A. program 11th for best return on investment in the United States.[15][16] The analysis, which reviewed federal student loan and post-graduation salary data from 600 business programs, found that students at Walton take on an average of $27,800 in federal student loan debt and go on to earn an average of $106,421 annually two years after graduating.[17]

Walton College is also frequently recognized for its strong supply chain management program. Global research and consulting firm Gartner ranks Walton College’s undergraduate supply chain program as the No. 1 program in North America.[18][19] The graduate supply chain program is ranked No. 2 in North America.[20] U.S. News & World Report ranks the undergraduate supply chain program 10th nationally, while the Walton M.B.A. supply chain specialty track is ranked 20th.[12]

Leadership Initiatives

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In 2020, Walton College created two leadership initiatives geared toward ethics and the customer experience.

  • Business Integrity Leadership Initiative - founded by Cindy Moehring
  • Customer Centric Leadership Initiative - founded by Andrew L. Murray[citation needed]

Facilities

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Business education at the University of Arkansas began on the third floor Old Main in 1926. Known as the School of Business Administration, four faculty and 21 students began business education at UA. In 1928, the school moved to the former engineering building, which was renamed the Commerce Building.

The College moved to its present location at 220 North McIlroy in 1978 following the completion of the Business Building. It was renamed to Sam M. Walton College of Business Administration following a $50 million donation from the Walton Family Charitable Support Foundation in 1998.[5] The Donald W. Reynolds Center for Enterprise Development at 145 North Buchanan was built following a grant from Donald W. Reynolds Foundation in 1996.

Following the Campaign for the 21st Century, the Walton College saw a period of rapid facility growth. Willard J. Walker Hall at 191 North Harmon and the J.B. Hunt Transport Services Center for Academic Excellence at 227 North Harmon opened in 2007 adjacent to the Business Building, enclosing the Linda Sue Shollmier Plaza and creating a business campus within the southern part of the UA campus. The McMillon Innovation Studio, named for alumnus Doug McMillon, was opened in a former retail space at 146 North Harmon near the other business buildings in 2016.[21]

A gallery, with dates used by the College of Business in parentheses, shows the facilities used throughout the years.

  • Old Main (1926–1928)
    Old Main (1926–1928)
  • Ozark Hall (temporary)
    Ozark Hall (temporary)
  • Business Building (1978–present)
    Business Building (1978–present)
  • Donald W. Reynolds Center for Enterprise Development (1996–present)
    Donald W. Reynolds Center for Enterprise Development (1996–present)
  • Linda Shollmier Plaza (2002–present)
    Linda Shollmier Plaza (2002–present)
  • Shollmier Fountain (2002–present)
    Shollmier Fountain (2002–present)
  • J.B. Hunt Transport Services Center for Academic Excellence (2007–present)
    J.B. Hunt Transport Services Center for Academic Excellence (2007–present)
  • Willard J. Walker Hall (2007–present)
    Willard J. Walker Hall (2007–present)
  • McMillon Innovation Studio (2016–present)
    McMillon Innovation Studio (2016–present)

Notable Alumni

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Notable Faculty Members

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  • Varun Grover, Distinguished Professor of Information Systems and George & Boyce Billingsley Endowed Chair at the Department of Information Systems. He is one of the top information systems researchers and business management scientists in the world [22]
  • Mary Lacity, Distinguished Professor of Information Systems, Director of the Blockchain Center of Excellence, and Senior Editor for MIS Quarterly Executive. She is known for her research in automation, outsourcing and blockchain and is one of only three academics to ever be inducted into The International Association of Outsourcing Professionals Hall of Fame [23]
  • Matthew A. Waller, Dean, Sam M. Walton Leadership Chair in Business, and Professor of Supply Chain Management. He serves on the Board of Directors of the Winthrop Rockefeller Institute and Private Equity Advisory Board of Natural Capital [24]
  • Remko Van Hoek, Clinical Professor of Supply Chain Management who has held supply chain and procurement executive roles at Nike, Inc., PwC and Disney, and is a fellow of Chartered Institute of Procurement & Supply and Chartered Institute of Logistics and Transport[25]
  • Molly Rapert, Associate Professor of Marketing, Director for the Walton College of Business Center for Teaching Effectiveness, and recipient of the Marketing Management Association's Top-in-Nation Marketing Faculty Award [26]

References

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  1. ^ a b c "Fall 2016 11th Day Enrollment Report" (PDF). University of Arkansas Office of Institutional Research. October 20, 2016. p. 3. Retrieved March 3, 2016.
  2. ^ Jayroe, Dustin (2019-04-29). "Sam M. Walton College of Business Opens its Doors to Little Rock". AMP. Retrieved 2024-06-20.
  3. ^ "About Walton College".
  4. ^ "Walton College Mission, Vision and History".
  5. ^ a b Honan, William H. (October 7, 1998). "Business School At Arkansas U. Is Getting Gift Of $50 Million". The New York Times. Retrieved September 16, 2017.
  6. ^ "Eli Jones To Lead Walton College". Talk Business & Politics. 2012-07-06. Retrieved 2024-07-31.
  7. ^ "Walton College Dean Eli Jones Leaving Arkansas For Texas A&M". Talk Business & Politics. 2015-03-10. Retrieved 2024-07-31.
  8. ^ "Sam M. Walton College of Business dean to go back to professor job | Northwest Arkansas Democrat-Gazette". www.nwaonline.com. 2023-03-06. Retrieved 2024-06-20.
  9. ^ Gatling, Paul (2023-03-06). "Report: Walton College Dean Matt Waller is resigning". Talk Business & Politics. Retrieved 2024-04-12.
  10. ^ "Brent Williams Named Dean of Walton Business College". Arkansas Business — Business News, Real Estate, Law, Construction. 2024-01-12. Retrieved 2024-04-12.
  11. ^ Gatling, Paul (2023-04-14). "UA appoints Brent Williams interim dean of Walton College". Talk Business & Politics. Retrieved 2024-06-20.
  12. ^ a b "University of Arkansas Rankings". U.S. News and World Report.
  13. ^ "The Top 100 Business Schools, Ranked By Research". Poets&Quants.
  14. ^ "The Princeton Review: University of Arkansas--Fayetteville - Sam M. Walton College of Business". The Princeton Review.
  15. ^ "Walton MBA Ranks 11th out of 600 programs for ROI by the Wall Street Journal".
  16. ^ "University of Arkansas' Walton MBA program ranked 11th for return on investment, says Wall St. Journal". KNWA FOX24. 2022-02-18. Retrieved 2024-06-20.
  17. ^ "A Graduate Degree That Pays Off: The M.B.A." The Wall Street Journal.
  18. ^ "Walton's Supply Chain Management Program Ranked No. 1 Again". The University of Arkansas.
  19. ^ Hippold, Sarah (7 June 2022). "Gartner Announces Rankings of the 2022 North American Supply Chain Undergraduate University Programs". Gartner. Retrieved 31 July 2024.
  20. ^ "Walton College's Supply Chain Graduate Program Ranked No. 2 In North America". The University of Arkansas.
  21. ^ Neiswanger, Robbie (October 23, 2016). "UA's McMillon lab fosters innovation". Arkansas Democrat-Gazette. Retrieved September 16, 2017.
  22. ^ "Information Systems: Department Directory: Varun Grover".
  23. ^ "Information Systems: Department Directory: Mary Lacity".
  24. ^ "Supply Chain Management: Department Directory: Matthew A. Waller".
  25. ^ "Supply Chain Management: Department Directory: Remko Van Hoek".
  26. ^ "Marketing: Department Directory: Molly Rapert".
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