Gies College of Business

Last updated

University of Illinois Gies College of Business
GiesBusiness center.jpg
Former names
  • College of Commerce and Business Administration
  • University of Illinois College of Business
Type Public business school
Established1915;109 years ago (1915)
Parent institution
 University of Illinois
Endowment $87.4 million (2007) [1]
Dean W. Brooke Elliott
Undergraduates 3,000 students
Postgraduates 3,074 students
Location
Champaign
,
Illinois
,
United States

40°06′14″N88°13′51″W / 40.1038°N 88.2309°W / 40.1038; -88.2309
Website giesbusiness.illinois.edu OOjs UI icon edit-ltr-progressive.svg

Gies College of Business is the business school of the University of Illinois Urbana-Champaign, a public research university in Champaign, Illinois. The college offers undergraduate program, masters programs, and a PhD program. The college and its Department of Accountancy are separately accredited by AACSB International. [2]

Contents

As of 2021, there are more than 70,000 Gies Business alumni worldwide, [3] including several Fulbright scholars. [4] [5] [6]

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. [7] 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. [8]

Since 2015, Gies College of Business has partnered with Coursera to offer online MBA (iMBA) program, with additional options for online graduate certificates, an online MSM (iMSM), and an online MSA (iMSA). The school started with 113 students in the beginning for the online programs and later grew to more than 3,200 [9] degree-seeking students [10] from 46 states in United States and more than 90 countries [11] in the world. The selectivity and acceptance rate to the program initially was 20.9% [12] and is currently at 53%. [13]

In 2019, the school announced that it was suspending its on-campus full-time MBA, part-time MBA, and executive MBA. [14]

College naming gifts

In 2017, alumni Larry and Beth Gies donated US$150M to the school, which was renamed the Gies College of Business in their honor. [15] [16] [17] In 2020, alumnus Don Edwards donated US$10 million [18] [19] and the business school also further received a pledge in 2020 for $2.5 million for construction of shared instructional facility. [20]

Campus

David Kinley Hall, June 2003 David Kinley Hall.jpg
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. [7] The Commerce building, dedicated in 1913, was built at a cost of $100 thousand.[ citation needed ]

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.[ citation needed ]

Wohlers Hall, formerly known as Commerce West, was built in 1963. [21] Albert H. and Jane Wohlers provided a $6 million naming gift in 2000 for renovations. [22]

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. [23] The $62 million project, designed by architect Cesar Pelli, is LEED-certified because of its "green", environmentally friendly elements. [23] [24]

Academic departments

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

Accountancy

Wohlers Hall during the spring of 2004 Wohlers Hall.jpg
Wohlers Hall during the spring of 2004

The Department of Accountancy was founded in 1953. [25]

The University offered courses in accounting before the creation of the University of Illinois Urbana-Champaign College of Business. The courses in the university were offered through the Department of Economics from 1902 to 1915. [26] 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. [26] 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.[ citation needed ]

In 1919, H.T. Scovill helped establish the Beta Alpha Psi accounting honor society. [26]

Business Administration

The Business Instructional Facility during the fall of 2008 Business Instructional Facility.jpg
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. The department offers an iMBA program in collaboration with Coursera. Also the Gies College of Business continues to innovate with the launch of its new online MBA program, which has been ranked among the top in the nation [25]

Each iMBA course has self-directed, asynchronous pre-recorded video courses through Coursera, complementary readings, and a high engagement virtual classroom environment. The virtual classes are weekly live sessions with faculty and your classmates. Classes typically have individual assignments, group assignments, and may include midterm and final exams. [27]

Degree programs are flexible with completion time ranging from 24-60 months. Courses are 4-8 weeks long and students may register for 1-4 courses per 16 week semester; if approved, students can take additional courses each semester and complete the iMBA in as little as 15 months.

Students can select from 5 focus areas and 18+ electives. Core specializations include Strategic Leadership and Management, Managerial Economics and Business Analysis, Value Chain Management, and Financial Management. Focus area specializations include Digital Marketing, Entrepreneurship and Strategic Innovation, Global Challenges in Business, Business Analytics, and Mergers and Acquisitions. [28]

Finance

In 1957, the UI Board of Trustees approved the Dean's proposal to create a Department of Finance. [25] The MSF program began the following year. [29]

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 by Deloitte Foundation thanks to a $5 million gift from the Deloitte Foundation and Deloitte's retired and current partners, principals, managing directors and employees. [30]

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. [31]

Origin Ventures Academy for Entrepreneurial Leadership

The Origin Ventures Academy for Entrepreneurial Leadership, established in 2004, is responsible for cross-campus and multidisciplinary programs for entrepreneurial students from all backgrounds including the award-winning iVenture Accelerator and Illinois Social Innovation. [32]

Rankings

As of 2024, Gies College of Business is ranked #3 in Accounting by U.S. News & World Report. [33]

In 2019, Public Accounting Report’s Annual Professors Survey has ranked the college under top 3 for undergraduate, [34] graduate, [35] and Ph.D. accounting programs. [36]

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

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References

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  2. ↑ "University of Illinois 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 futures and grants 2019". University of Illinois Urbana-Champaign . Retrieved June 12, 2020.
  6. ↑ "Eleven U. of I. students, recent alumni offered Fulbright grants 2018". University of Illinois Urbana-Champaign . Retrieved June 12, 2020.
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  8. ↑ "UIUC Library Archives: Business". Archived from the original on March 19, 2005. Retrieved September 5, 2006.
  9. ↑ "These MBA Programs Are As Good Or Better Than Those Ranked By U.S. News". Forbes . Retrieved May 1, 2020.
  10. ↑ "Where MBA Demand Is Exploding". Forbes . Retrieved April 29, 2020.
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  12. ↑ "2016 Report to Senate Educational Policy Committee" (PDF). University of Illinois Urbana-Champaign . Retrieved May 8, 2020.
  13. ↑ "Gies College of Business - iMBA Facts". University of Illinois Urbana-Champaign . Retrieved July 2, 2020.
  14. ↑ "U of I to end on-campus MBA classes". Crain's Chicago Business . May 24, 2019. Retrieved April 29, 2020.
  15. ↑ "Couple donate $150 million to University of Illinois in its largest gift ever". Chicago Tribune . October 26, 2017. Retrieved April 29, 2020.
  16. ↑ "Gies' $150 million gift largely funding UI business scholarships". The News-Gazette (Champaign–Urbana) . October 10, 2018. Retrieved April 29, 2020.
  17. ↑ "University of Illinois receives its biggest gift ever—$150 million". Crain's Chicago Business . October 25, 2017. Retrieved April 29, 2020.
  18. ↑ "Gies Business alumnus donates $10 million". The Daily Illini . February 12, 2020. Retrieved June 1, 2020.
  19. ↑ "$10M gifted to UI, $8M for Gies Business scholarships". WAND . February 12, 2020. Retrieved June 1, 2020.
  20. ↑ "Shebik gift to boost Gies south campus profile". Gies College of Business. Retrieved October 17, 2020.
  21. ↑ "Wohlers' Generosity to Fund Reconstruction of Commerce West" (PDF). Archived from the original (PDF) on December 15, 2004. Retrieved June 13, 2008.
  22. ↑ "Wohlers Hall to be dedicated Sept. 21". Archived from the original on July 5, 2008. Retrieved June 13, 2008.
  23. 1 2 "Seventy Third Report: The Board of Trustees" (PDF). University of Illinois. 2006. pp. 373–374..
  24. ↑ "Business Instructional Facility Home". Archived from the original on September 15, 2006. Retrieved April 18, 2008.
  25. 1 2 3 "University of Illinois Board of Trustees Archives" . Retrieved April 14, 2008.
  26. 1 2 3 4 5 6 7 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.[ permanent dead link ]
  27. ↑ "FAQs". Gies Online | Gies College of Business. Retrieved August 24, 2023.
  28. ↑ "Curriculum". Gies Online | Gies College of Business. Retrieved August 24, 2023.
  29. ↑ "MSF Program recognized as CFA Program Partner" . Retrieved April 11, 2008.[ permanent dead link ]
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  31. ↑ "About Us".
  32. ↑ "Origin Ventures Academy for Entrepreneurial Leadership | Gies College of Business | U of I". giesbusiness.illinois.edu. Retrieved October 15, 2019.
  33. ↑ "Best Accounting Programs". U.S. News & World Report. 2024.
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  35. ↑ "38th Annual Professors Survey - 2019 : 2019 Top 50 Master's Accounting Programs" (PDF). W. P. Carey School of Business . Retrieved June 10, 2020.
  36. ↑ "Public Accounting Report 2018" (PDF). W. P. Carey School of Business . Retrieved June 10, 2020.
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  42. ↑ "Illinois Athletics – Josh Whitman" . Retrieved May 4, 2018.
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