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The newspaper of The Johns Hopkins University April 28, 2008 | Vol. 37 No. 32
New Model for Business Education

Dean Yash Gupta
Photo by Jay Vanrensselaer/HIPS

Yash Gupta lays out vision for Carey School

By Greg Rienzi
The Gazette

The university dedicated the Carey Business School last week at an event where its inaugural dean passionately laid out his vision for the fledgling academic division.

Nearly 600 people gathered in Homewood's Shriver Hall on Friday afternoon to celebrate the new school and to honor its chief benefactor, William Polk Carey. A five-piece brass band played during the procession as the university's leaders and special guests walked onto a stage lavishly decorated with white roses.

President William R. Brody, the first to speak, noted the historic day that officially marked the creation of the ninth academic division of Johns Hopkins.

"In each of those [other] eight instances, there was a clear and compelling case to bring fresh ideas and a new approach to the study and practice of these disciplines," he said. "That is no less true today. This is an opportune and perhaps even an auspicious moment to bring fresh ideas to the study and practice of business."

The Carey Business School, which began operations Jan. 1, 2007, grew out of the School of Professional Studies in Business and Education. It was launched with a $100 million funding plan, $50 million in the form of a gift from Carey--the largest gift ever to Johns Hopkins in support of business education. Headquartered in the university's Downtown Center, the school maintains a presence at six JHU locations for its more than 2,400 full-time and part-time graduate and undergraduate students.

The event featured the official installation of Yash Gupta as the school's first dean. Before joining Johns Hopkins on Jan. 1, 2008, Gupta had served as dean of the University of Southern California's Marshall School of Business from 2004 to 2006 and previously as dean at the University of Colorado at Denver and the University of Washington. A widely published scholar in operations management, he also held faculty positions at the University of Louisville, University of Manitoba and Memorial University of Newfoundland.

Provost Kristina Johnson, board chair Pamela Flaherty and President William R. Brody
Photo by Jay Vanrensselaer/HIPS

Provost Kristina Johnson introduced Gupta and called him a man of "high principle, intellectual rigor, passion and compassion" who will take business education in daring new directions.

"He is a visionary and an optimist. He believes completely in the possibilities and opportunities that are inherent in the creation of a new business school at Johns Hopkins," Johnson said. "I am sure you are as excited as I am to see what ideas and innovations Dr. Gupta will bring to business education here."

Gupta began his talk by thanking Carey's "outstanding generosity" that made possible the creation of the school.

"We are inspired by the Carey family's long tradition of business leadership, and by their continuing devotion to the city of Baltimore and its citizens. Thanks to Bill Carey, we find ourselves at a moment of immense opportunity and potential."

Gupta said that Johns Hopkins will break the mold of traditional business schools and expand the business map.

"And how appropriate for Johns Hopkins: the birthplace of the modern research university, incubator of the science-based medical curriculum, home to so many innovations that have come to define higher education today," Gupta said. "Breaking the mold is part of our heritage."

He called for research, study and training that "advances new ideas, new methods and new leaders in business." He highlighted his goal for students to learn not only business skills but also critical cross-disciplinary knowledge taught in other Johns Hopkins divisions. The new school already collaborates with others at JHU to offer, for instance, joint master's/MBA programs in biotechnology, nursing, public health, communication, information and telecommunications systems, and government.

During the course of the speech, Gupta echoed the phrase that "business is the engine that transforms the world." Carey Business School students will become the catalyst for this change, he said, advancing innovation and helping the world, whether it's bringing new technology to the marketplace or fighting poverty and environmental degradation.

"Where could one hope to find a better place to do this than here, among the world-class opportunities of Johns Hopkins?" he said. "Our students, immersed in this environment of innovation and discovery, can become true entrepreneurs by being active participants in the process of discovery occurring all about them."

He also emphasized the importance of values in business and asked that students bring them into the classroom.

"Business can only flourish in a successful, stable and transparent society that plays by the rules," he said. "Values give business operations a sense of direction and a sense of purpose."

Greatness and tradition will not happen overnight, he said, but it starts here and now.

"Today," he said, we plant a seedling. We anticipate its flower--like the beautiful roses around us, symbol of the Carey family crest--will be the great achievements our students one day accomplish. What an exciting journey we all have, and how proud I am to help launch it on its way."

William Polk Carey
Photo by Jay Vanrensselaer/HIPS

During the ceremony, presenters showed a video tribute to Carey that highlighted his connections to Johns Hopkins and Baltimore, his strength of purpose and his desire to usher in a new era of business education. The video included commentary from family members, Provost Johnson, Michael Bloomberg, trustees and others.

Carey, a trustee emeritus, is chairman of W.P. Carey & Co., a New York City real estate investment firm. The school is named for his great-great-great-grandfather James Carey of Loudon, an 18th- and 19th-century Baltimore shipper, longtime member of Baltimore's first city council, chairman of the Bank of Maryland and relative of university founder Johns Hopkins. James Carey is an ancestor of a number of trustees of the university and of The Johns Hopkins Hospital.

In 1999, William Polk Carey pledged $2 million to the university to endow and expand an innovative program preparing undergraduate engineers to manage businesses or to start and run their own companies. Today, the W.P. Carey Program in Entrepreneurship and Management is run by the Whiting School's Center for Leadership Education and is open to all Homewood students.

Carey at the event was presented with the first Johns Hopkins Carey Business School Dean's Medal, a burnished brass piece bearing a bas relief likeness of James Carey of Loudon. The university also honored him the previous evening at a celebration dinner at the George Peabody Library that was attended by senior Johns Hopkins administrators, Gov. Martin O'Malley and a number of JHU trustees, past and present.


Hear Dean Gupta's podcast

Carey Business School Dean Yash Gupta presents his vision for the new school and the opportunities that lay ahead in a podcast just posted to the Great Ideas podcast page, located at In the interview, Gupta says he wants his students to learn that making a difference is more important than maximizing shareholder value.


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