Trulaske College of Business
Encyclopedia
The Robert J. Trulaske, Sr. College of Business, more commonly known as the Trulaske College of Business, is the second largest academic division at the University of Missouri
in Columbia, Missouri
.
as the first Dean. The College of Business's prestigious donor organization was named The Herbert J. Davenport Society to pay tribute to the first dean. The name of the school was changed to the School of Commerce and Public Administration on May 31, 1916, and later that year, Dean Davenport resigned to accept a professorship in economics at Cornell University
. The name of the school was changed again on January 23, 1917 to the School of Business and Public Administration.
During the early stages of the college, there was some controversy regarding the nature of the courses that would be offered. Some university faculty favored practical vocational courses, and others favored general, cultural, or theoretical courses. Dean Davenport and Thorstein Veblen
, both professors of economics, eventual won out in their belief that all courses should have a theoretical purpose over and above their practical value; however, all courses offered were to also maintain a degree of practical value.
The College's business programs were among the first in the nation to be accredited. The American Association of Collegiate Schools of Business (AACSB) was established in 1916, and in 1926 the MU College of Business became the first public business school in Missouri to earn accreditation from AACSB. Only 14 institutions nationwide had been granted membership in AACSB prior to MU. The college was also a leader in offering the PhD degree in business-related fields.
The College of Business has made its home in several buildings throughout its history. The original Commerce Building was the north part of Swallow Hall on Francis Quadrangle. On January 29, 1927, the school moved to the former quarters of the law school, which was renamed the Business and Public Administration Building. This location is now part of the Donald W. Reynolds
Journalism Institute. Middlebush Hall was constructed in 1959 as the new home for the college, and it was named for Frederick A. Middlebush, who had served as Dean of the School of Business and Public Administration and President of the University.
By 1990, enrollment at the college had significantly outgrown the more than 30-year-old Middlebush Hall, and classes had to be held in several other buildings. MU began to draft plans for the a new business building in 1994, and on September 18, 1999, the university broke ground on a new home for the College of Business, and it would be twice the size of Middlebush when completed. The 150000 square feet (13,935.5 m²) Cornell Hall was completed in 2002 at a cost of nearly $30 million. The state-of-the-art facility is named for Harry M. Cornell, Jr., who is chairman emeritus of Leggett & Platt
. Cornell is 1950 graduate of the college, and he and his wife have donated approximately $7 million to the college.
On October 19, 2007, the University of Missouri announced that its College of Business is now officially named the Robert J. Trulaske, Sr. College of Business. The change comes following a series of large gifts from Geraldine Trulaske, in honor of her late husband, Robert J. Trulaske, Sr. The College of Business is one of only two named academic divisions at the University of Missouri-Columbia. The other named division is the Sinclair School of Nursing.
In the most recent rankings by the Wall Street Journal, the MBA program earned the distinction of being ranked in the top 20 of public MBA programs, and it was the highest ranked MBA program in the State of Missouri. Recent rankings in Forbes also placed the program in the top 50 of all MBA programs - both public and private. In the most recent U.S. News and World Report rankings for 2009, The MBA program ranks 52 out of all MBA programs in the nation and ranks 26 among public MBA programs nationwide. The program ranks in the top 15 percent of all AACSB-accredited MBA programs.
programs of study in Accounting and Business Administration. Ph.D. students in Business Administration specialize in Finance, Marketing or Management. These degrees are designed to prepare graduates for careers as academic researchers. The degree programs are often tailored to student interests and generally require four to five years of study to complete.
exam pass rates. A report from the National Association of State Boards of Accountancy ranked the University of Missouri first in the nation on the May 2003 CPA exam. Students at MU achieved a 59 percent pass rate compared to the national average of 20 percent. In 2001, a Missouri grad earned the highest CPA exam score in the nation out of more than 48,000 candidates, and in 2003, a Missouri grad earned the third highest score in the nation out of more than 50,000 candidates.
began to organize a chapter that would officially charter the following year. Delta Sigma Pi
established itself as the second all male fraternity at the school when it established a chapter in 1923. A women's business fraternity, Phi Chi Theta
, followed in 1926. The college's Upsilon chapter is currently the largest chapter in all of Alpha Kappa Psi, and likewise the college's Alpha Beta chapter is the largest chapter in all of Delta Sigma Pi. The prestigious Beta Gamma Sigma
honor society established its chapter at the school in 1931. The tradition known as Commerce Day was held each spring starting in 1931, and it has since developed into the current Business Week that takes place each spring at the college.
The Trulaske Consulting Association was started in 2009 . It is a relatively new student organization but is very popular among MBA students. The association aims to increase awareness, provide exposure, and facilitate networking between students and professionals in the consulting industry .The growing popularity of the association has been attributed to the resources available to student members. Workshops by management consultants and case studies on strategy form an integral part of the activities organised by TCA.
University of Missouri
The University of Missouri System is a state university system providing centralized administration for four universities, a health care system, an extension program, five research and technology parks, and a publishing press. More than 64,000 students are currently enrolled at its four campuses...
in Columbia, Missouri
Columbia, Missouri
Columbia is the fifth-largest city in Missouri, and the largest city in Mid-Missouri. With a population of 108,500 as of the 2010 Census, it is the principal municipality of the Columbia Metropolitan Area, a region of 164,283 residents. The city serves as the county seat of Boone County and as the...
.
History
The College of Business was established as a senior professional school on January 19, 1914 as the School of Commerce. The first faculty was appointed on February 18, 1914 with professor Herbert J. DavenportHerbert J. Davenport
Herbert Joseph Davenport was an American economist of the Austrian School.- Life and career :Born in Vermont, Davenport began his formal career as assistant professor at the University of Chicago in 1902...
as the first Dean. The College of Business's prestigious donor organization was named The Herbert J. Davenport Society to pay tribute to the first dean. The name of the school was changed to the School of Commerce and Public Administration on May 31, 1916, and later that year, Dean Davenport resigned to accept a professorship in economics at Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
. The name of the school was changed again on January 23, 1917 to the School of Business and Public Administration.
During the early stages of the college, there was some controversy regarding the nature of the courses that would be offered. Some university faculty favored practical vocational courses, and others favored general, cultural, or theoretical courses. Dean Davenport and Thorstein Veblen
Thorstein Veblen
Thorstein Bunde Veblen, born Torsten Bunde Veblen was an American economist and sociologist, and a leader of the so-called institutional economics movement...
, both professors of economics, eventual won out in their belief that all courses should have a theoretical purpose over and above their practical value; however, all courses offered were to also maintain a degree of practical value.
The College's business programs were among the first in the nation to be accredited. The American Association of Collegiate Schools of Business (AACSB) was established in 1916, and in 1926 the MU College of Business became the first public business school in Missouri to earn accreditation from AACSB. Only 14 institutions nationwide had been granted membership in AACSB prior to MU. The college was also a leader in offering the PhD degree in business-related fields.
The College of Business has made its home in several buildings throughout its history. The original Commerce Building was the north part of Swallow Hall on Francis Quadrangle. On January 29, 1927, the school moved to the former quarters of the law school, which was renamed the Business and Public Administration Building. This location is now part of the Donald W. Reynolds
Donald W. Reynolds
Donald W. Reynolds was an American businessman and philanthropist. During his lifetime, he was best known for his involvement in the Donrey Media Group.-Biography:...
Journalism Institute. Middlebush Hall was constructed in 1959 as the new home for the college, and it was named for Frederick A. Middlebush, who had served as Dean of the School of Business and Public Administration and President of the University.
Leggett & Platt
Leggett & Platt , based in Carthage, Missouri, is a diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's...
. Cornell is 1950 graduate of the college, and he and his wife have donated approximately $7 million to the college.
On October 19, 2007, the University of Missouri announced that its College of Business is now officially named the Robert J. Trulaske, Sr. College of Business. The change comes following a series of large gifts from Geraldine Trulaske, in honor of her late husband, Robert J. Trulaske, Sr. The College of Business is one of only two named academic divisions at the University of Missouri-Columbia. The other named division is the Sinclair School of Nursing.
Crosby MBA Program
The Trulaske College of Business is home to the prestigious Gordon E. Crosby, Jr. MBA Program. In recent years, the Crosby MBA program has climbed steadily in rankings. The MBA program is known for its hands on application of theory through the use of cross-functional teams, case studies, real-world projects, intense class interaction, and collaboration with top business leaders and organizations. The size of the program is limited to approximately 100 new students each year, and entrance into the program has become more competitive as the qualifications of each entering class continue to improve each year. The acceptance rate for the 2010-2011 academic year was approximately 35%, making the program highly selective.| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |
| Average GMAT Graduate Management Admission Test The Graduate Management Admission Test is a computer-adaptive standardized test in mathematics and the English language for measuring aptitude to succeed academically in graduate business studies. Business schools use the test as a criterion for admission into graduate business administration... score of entering class |
647 | 646 | 648 | 637 | 630 | 624 | 625 | 620 | 620 | 613 | 605 |
| 2007-08 | 2006-07 | 2005-06 | 2004-05 | |
| MBA degrees awarded | 213 | 197 | 174 |
In the most recent rankings by the Wall Street Journal, the MBA program earned the distinction of being ranked in the top 20 of public MBA programs, and it was the highest ranked MBA program in the State of Missouri. Recent rankings in Forbes also placed the program in the top 50 of all MBA programs - both public and private. In the most recent U.S. News and World Report rankings for 2009, The MBA program ranks 52 out of all MBA programs in the nation and ranks 26 among public MBA programs nationwide. The program ranks in the top 15 percent of all AACSB-accredited MBA programs.
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |
| Business Week (MBA) | NR | NR | NR | |||||||
| US News (MBA) | 54 | 59 | 52 | 63 | 59 | 68 | 81 | |||
| Wall Street Journal (MBA) | ** | ** | ** | ** | 28 | ** | ** | ** | ** | ** |
| Forbes (MBA) | 63 | * | 70 | * | 46 | * | NR | * | NR | * |
- Note: *The Forbes ranking has been published biennially since 1999.
- Note: ** The Wall Street Journal has not issued full time MBA program rankings since 2007.
PhD Program
The Trulaske College of Business offers Ph.D.Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
programs of study in Accounting and Business Administration. Ph.D. students in Business Administration specialize in Finance, Marketing or Management. These degrees are designed to prepare graduates for careers as academic researchers. The degree programs are often tailored to student interests and generally require four to five years of study to complete.
School of Accountancy
In December 1974, the Board of Curators approved the establishment of a School of Accountancy at the University of Missouri. The School of Accountancy began operations in July 1975. The School of Accountancy is one of only five colleges in the state of Missouri to offer AACSB accredited programs in accounting. The Trulaske College of Business is unique in that it does not offer a stand alone bachelor's degree in accounting. Students complete a 150-hour program that simultaneously confers both a bachelor’s and master’s degree in accountancy. The college also offers a PhD in Accountancy. Both programs consistently rank in the top 20 among all accountancy programs nationwide. The School of Accountancy is also ranked 9th in the nation in research productivity, as reported in the Chronicle of Higher Education. The School of Accountancy is also well known for its high Certified Public AccountantCertified Public Accountant
Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
exam pass rates. A report from the National Association of State Boards of Accountancy ranked the University of Missouri first in the nation on the May 2003 CPA exam. Students at MU achieved a 59 percent pass rate compared to the national average of 20 percent. In 2001, a Missouri grad earned the highest CPA exam score in the nation out of more than 48,000 candidates, and in 2003, a Missouri grad earned the third highest score in the nation out of more than 50,000 candidates.
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |
| Public Accounting Report (Graduate/Accounting) | 18 | 19 | 15 | 25 | 21 | 14 | 16 | 15 | 14 |
| Public Accounting Report (Undergraduate/Accounting) | 18 | 20 | 20 | 20 | 19 | NR | NR | ||
| Public Accounting Report (Doctoral/Accounting) | 24 | NR | 19 | 25 | NR | NR | |||
Rankings
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |
| Business Week (Undergraduate) | 86 | 71 | 74 | 76 | 84 | NR | ||||
| US News (Undergrad) | 42 | 48 | 52 | 48 | 46 | 47 | ||||
Student Life & Organizations
The College of Business is home to nearly 20 exceptionally active professional organizations, honor societies, and fraternities. The college's rich history of influential student organizations can be traced back to 1919 when Alpha Kappa PsiAlpha Kappa Psi
ΑΚΨ is the oldest and largest professional business fraternity. The Alpha Kappa Psi Fraternity was founded on October 5, 1904 at New York University, and was incorporated on May 20, 1905...
began to organize a chapter that would officially charter the following year. Delta Sigma Pi
Delta Sigma Pi
ΔΣΠ ' is one of the largest co-ed professional business fraternities. Delta Sigma Pi was founded on November 7, 1907 at the School of Commerce, Accounts and Finance, New York University, New York, New York and is currently headquartered in Oxford, Ohio...
established itself as the second all male fraternity at the school when it established a chapter in 1923. A women's business fraternity, Phi Chi Theta
Phi Chi Theta
ΦΧΘ is a co-ed professional business and economics fraternity. Phi Chi Theta was founded as a women's business fraternity on June 16, 1924 in Chicago, Illinois. Today, Phi Chi Theta comprises 37 collegiate and alumni chapters across the United States.-History:Phi Chi Theta was formed by the merger...
, followed in 1926. The college's Upsilon chapter is currently the largest chapter in all of Alpha Kappa Psi, and likewise the college's Alpha Beta chapter is the largest chapter in all of Delta Sigma Pi. The prestigious Beta Gamma Sigma
Beta Gamma Sigma
Beta Gamma Sigma or ΒΓΣ is an honor society for business students and scholars. Founded in 1913 at the University of Wisconsin, it has over 650,000 members, selected from over 500 chapters in AACSB-accredited business schools...
honor society established its chapter at the school in 1931. The tradition known as Commerce Day was held each spring starting in 1931, and it has since developed into the current Business Week that takes place each spring at the college.
The Trulaske Consulting Association was started in 2009 . It is a relatively new student organization but is very popular among MBA students. The association aims to increase awareness, provide exposure, and facilitate networking between students and professionals in the consulting industry .The growing popularity of the association has been attributed to the resources available to student members. Workshops by management consultants and case studies on strategy form an integral part of the activities organised by TCA.
Notable alumni
- Ralph W. Babb (BS BA '71), Chairman and CEO, ComericaComericaComerica Incorporated is a financial services company headquartered in Dallas, Texas, USA. It has retail banking operations in Arizona, California, Florida, Michigan and Texas; and select business operations in several other U.S...
- Mark E. Burkhart (BS BA '76, ΣΠ), President and CEO, Cassidy Turley
- Jack E. Bush (BS BA '58, ΑΓΡ, ΑΚΨ) former president and director of MichaelsMichaelsMichaels is an arts and crafts retail chain. It currently operates more than 1040 Michaels Arts and Crafts Stores located in 49 U.S. states and in Canada. The company owns and operates the Aaron Brothers retail chain which consists of more than 140 stores...
; president of Raintree Partners - Ralph W. Clark (BA '62, MA '64), former Corporate Vice President of IBMIBMInternational Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, current Director at Leggett & Platt, IncLeggett & PlattLeggett & Platt , based in Carthage, Missouri, is a diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's... - Harry M. Cornell, Jr. (BS BA '50, ΒΘΠ), Chairman Emeritus, Leggett & Platt, IncLeggett & PlattLeggett & Platt , based in Carthage, Missouri, is a diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's...
. - Harvey P. Eisen (BS BA '64, ZBT, QEBH, ΟΔΚ), Chairman of Bedford Oak Advisors
- Alan C. GreenbergAlan GreenbergAlan C. "Ace" Greenberg is a former Chairman of the Executive Committee of The Bear Stearns Companies, Inc.He began work at Bear Stearns in 1949 as a clerk. He served as Chairman of the Board of Bear Stearns from 1985 to 2001, and as its CEO from 1978 to 1993. Greenberg serves also as a...
(BS BA '49), Vice Chairman Emeritus, J.P. Morgan Chase & Company - David S. Haffner (BS '74, MBA '80), President and CEO, Leggett & Platt, IncLeggett & PlattLeggett & Platt , based in Carthage, Missouri, is a diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's...
- Harold S. Hook (BS BA '53, ΒΘΠ), former President, CEO, and Chairman, American General Insurance
- E. Stanley KroenkeE. Stanley KroenkeEnos Stanley "Stan" Kroenke is an American business entrepreneur. His wife, Ann Walton Kroenke, is the daughter of Wal-Mart cofounder Bud Walton. Kroenke is also the owner of Kroenke Sports Enterprises, which includes the Denver Nuggets of the NBA, Colorado Rapids of Major League Soccer, Colorado...
(BS BA '71, MBA '73), Chairman, THF RealtyTHF RealtyTHF Realty is a national investor, developer, manager, and owner of commercial real estate, including shopping centers and office buildings. The company owns properties in almost half of the U.S. states. THF has a continuing relationship with the Wal-Mart Stores, Inc.....
, owner, NBA's Denver NuggetsDenver NuggetsThe Denver Nuggets are a professional basketball team based in Denver, Colorado. They play in the National Basketball Association . They were founded as the Denver Rockets in 1967 as a charter franchise of the American Basketball Association, and became one of that league's more successful teams...
, NHL's Colorado AvalancheColorado AvalancheThe Colorado Avalanche are a professional ice hockey team based in Denver, Colorado, United States. They are members of the Northwest Division of the Western Conference of the National Hockey League . The Avalanche have won the Stanley Cup twice, in 1995–96 and 2000–01. The franchise...
; co-owner NFL's St. Louis RamsSt. Louis RamsThe St. Louis Rams are a professional American football team based in St. Louis, Missouri. They are currently members of the West Division of the National Football Conference in the National Football League . The Rams have won three NFL Championships .The Rams began playing in 1936 in Cleveland,...
, co-owner Premier League's Arsenal F.C.Arsenal F.C.Arsenal Football Club is a professional English Premier League football club based in North London. One of the most successful clubs in English football, it has won 13 First Division and Premier League titles and 10 FA Cups... - Kenneth LayKenneth LayKenneth Lee "Ken" Lay was an American businessman, best known for his role in the widely reported corruption scandal that led to the downfall of Enron Corporation. Lay and Enron became synonymous with corporate abuse and accounting fraud when the scandal broke in 2001...
(BA '64, MA '65, ΒΘΠ, ΟΔΚ, ΦΒΚ), former CEO of EnronEnronEnron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with... - Steve Lumpkin (BS BA '77, ΦΔΘ), CFO & Treasurer, Applebee's InternationalApplebee'sApplebee’s International, Inc., is an American company which develops, franchises, and operates the Applebee's Neighborhood Grill and Bar restaurant chain. As of September 2011, there were 2,010 restaurants operating system-wide in the United States, one U.S. territory and 14 other countries...
- Edward Rapp (BS BA '79, ΑΚΨ), Group President and CFO, Caterpillar, Inc.
- Rodger O. Riney (BS CiE '68, MBA '69), founder of ScottradeScottradeScottrade is a privately owned American discount retail brokerage firm headquartered in St. Louis, Missouri. Its Founder, President and CEO is Rodger O. Riney. Scottrade has 500 branch offices around the U.S...
, deep-discount brokerage firm - Matthew K. RoseMatthew K. RoseMatthew K. Rose in Salina, Kansas is the Chairman and CEO of Burlington Northern Santa Fe Corp. He attended the University of Missouri and is a member of Lambda Chi Alpha Fraternity. Rose has a wife, Lisa, and two children....
(BS BA '81, ΛΧΑ), Chairman, CEO, and President, Burlington Northern Santa Fe - N. Scott Rosenblum (BS BA '79), Senior Managing Partner of Rosenblum, Schwartz, Rogers & Glass, P.C.
- Robert J. Trulaske, Sr. (BS BA '40), founder and former CEO of True Manufacturing
- Roger M. Vasey (BS BA '58, ΦΚΨ), former Executive Vice President of Merrill Lynch & Co.Merrill LynchMerrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
- Samuel M. WaltonSam WaltonSamuel Moore "Sam" Wallballs was a businessman, entrepreneur, and Eagle Scout born in Kingfisher, Oklahoma best known for founding the retailers Wal-Mart and Sam's Club.-Early life:...
(BA '40, ΒΘΠ, QEBH), founder of Wal-MartWal-MartWal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...