On Saturday, April 9, 2011, the Bauer College hosted the CME Group Commodity Trading Challenge – Open Outcry Competition. The event brings student teams from colleges around the country to compete in an open outcry competition buying and selling commodities.
A panel discussion of traders and energy experts kicked off the event. The discussion was interesting and generated questions regarding the lessons to be learnt from the trading floor. From understanding the economic impact of news events to the ability to communicate the right message, the panel highlighted the skills required of energy traders. One discussant summarized the most critical skill learnt in the process viz. decision making under chaos. With perfect hindsight and with the luxury of time, decision making becomes an academic exercise. The ability to sift information from noise, to make quick decisions in an environment when information rapidly changes and to communicate and explain these decisions, even if hindsight proves them wrong – really these are traits needed for success in any area, not just trading. Whether it is energy traders on the pit of the exchange or army commanders on the field in a war zone, or executives dealing with crises ranging from Deepwater to the contamination after the nuclear fallout resulting from a tsunami, these skills are valuable. The more we can incorporate these into a curriculum both inside and outside the classroom, the better prepared our graduates will be.
Think of this as you go through your daily routine – do you, at the end of the day think back on your actions and take stock – how often do you regret your decisions and if so, were they avoidable? Is there a pattern and what are the lessons learnt? Much learning can come out of this exercise.
In the wake of the recent earthquake and tsunami in Japan, everyone at the University of Houston C. T. Bauer College of Business expresses our deepest and most sincere concern for the nation’s people and all who have been and continue to be impacted.
We live in a global society, which is evident walking through our classrooms and common areas on the University of Houston campus. Here at Bauer College, we consider ourselves citizens of the world — we may have different backgrounds, but we’re united through our shared curiosity and love of learning.
Our thoughts and prayers are with our Bauer family in Japan and those here in Houston with loved ones affected by this disaster. We want you to know that we are here to offer support and to encourage others to contribute to the relief efforts.
Give to Japan:
The American Red Cross is assisting the Japanese Red Cross. Donate here. You can also make a $10 donation by texting REDCROSS to 90999.
It is a pleasure to welcome you to the C. T. Bauer College of Business at the University of Houston. As part of a Carnegie-designated Tier One research university, our goal is the pursuit of excellence. As a business school we create business leaders who can make a difference and transform their organizations so the community prospers.
At the Bauer College, we are experiencing some of the most exciting times in our almost 70-year history. In 2001, our vision to become a resource for the business community was jump-started by a $40 million gift from the College’s namesake, Charles T. “Ted” Bauer. Our top priority since receiving Ted’s extraordinary gift has been to create and advance knowledge that will address new business realities and in doing so, prepare our students to be responsible business leaders. We do this by hiring talented faculty experts, designing innovative and relevant business programs, and by using student success as the performance metric by which we evaluate ourselves.
Located in Houston, described as the city “where the future has already arrived,” the Bauer College leverages the expertise of the business community alongside academic research to create a learning environment that learns from current best practice while building better models for the future. It is no wonder that our faculty are sought after by the government, businesses, and the community both nationally and internationally. Kaye Newberry, served as an academic adviser to the U.S. Treasury Department. Wynne Chin is one of the top five human computer interaction researchers, according to the Journal of the Association for Information Systems. Edward Blair, was named 2011 Chair of the American Statistical Association Committee on Energy Statistics, which advises the U.S. Energy Information Administration. Craig Pirrong is often featured as an industry expert in print and broadcast news outlets worldwide for his expertise on the derivatives and the energy commodities markets. Leanne Atwater is senior editor of The Leadership Quarterly, an international journal focused on advancing theory, research and applications concerning leadership. Our finance and marketing departments were rated No. 8 and No. 9, respectively, in the U.S. by Academic Analytics in 2006 and 2007. Equally, if not more importantly, our faculty care. They care about students and about doing everything to create the most effective learning environment. This past fall, a student group came together to establish a scholarship to celebrate an “Academic Extraordinaire,” George Gamble, for his contribution in preparing students “not just for tests, but for life…to adhere to higher standards” (read the full story here).
Best described as “intelligent without the attitude,” we consider our students to be our most valued asset. That is exemplified in students like Taylor Herbert and Rebekah Elliott, who won first place in the National Collegiate Sales Competition in March 2011, Melissa Hernandez and Vania Arevalo, who were selected to attend Fast Forward, a three-day leadership development program sponsored by KPMG LLP in California in 2010, and Benjamin Cohen-Kurzrock, Jonathan Cohen-Kurzrock, Derek Hughes, Nick Larralde and Katherine Welch, who after successfully competing in local and state rounds traveled to Washington, D.C., to compete at the national level in the PricewaterhouseCoopers xTAX case competition. No matter what the business area, our students achieve the highest awards of distinction, lending credibility and humility to what we do at the Bauer College. We celebrate diversity in the truest sense of the term. That we are Texas’ top producer of African American and Asian BBA’s and second nationally for Hispanic BBA’s comes as no surprise, given the community we are honored to serve. With nearly 80 different languages spoken by our students, it is safe to say we define diversity. Having this global perspective is another factor why Bauer students are highly recruited by more than 2,000 companies. Please click here for a list of distinguished Bauer alumni.
Bauer College offers a program portfolio that the business community can tap into, including our Global Energy Management (GEM) program; our Global Energy Executive MBA (GEMBA) program offered here in Houston and in Beijing, China; our Global Studies Sequence; the Professional Program in Accountancy; our Program for Excellence in Selling; our Cougar Fund learning experience; not to mention the certificates and tracks we offer in areas like energy risk management, energy value chain economics, leadership and real estate management. Our nationally ranked #1 undergraduate program in entrepreneurship housed in the Wolff Center for Entrepreneurship speaks to the synergy created by the partnership between faculty experts and an entrepreneurial community for which the city of Houston is known.
Our efforts have not gone without notice. Bauer is consistently ranked surveys among the top five percent of public universities in the nation. In 2007, BusinessWeek named our evening MBA program No. 1 in Houston, No. 4 in the region and No. 27 in the nation. In 2004, Bloomberg Markets ranked our MBA programs 12th in the nation and 5th among public universities in producing CEOs of S&P 500 companies. In March 2010, U.S. News and World Report ranked our part-time MBA 26th among public and 50th among all part-time MBA programs offered in the U.S. A Financial Times’ evaluation of the top 75 EMBA programs in the world ranked our EMBA program 19th in the U.S. among publics. And, we are a top 15 MBA program in General Management (The Princeton Review). In 2010, The Princeton Review and Entrepreneur magazine ranked our entrepreneurship program the #1 undergraduate program in the nation. This program has been among the top two undergraduate entrepreneurship programs in the nation since 2007.
Ted Bauer, after whom the college is named, once remarked, “To help people get an education is the finest thing you can do. Students are the great future.” Ted’s message informs decision making at the Bauer College. The transformation that the Bauer gift led to is nothing short of a regime shift. The life and message of Ted Bauer continues to inspire us every day. Please take a minute and click this link to get a closer glimpse of the life and message of Ted Bauer.
I encourage you to browse our site and see the energy and dedication that drives the work ethic at the Bauer College of Business. I also welcome your suggestions on ways to take the Bauer College to the next level of business leadership. Please send your suggestions to firstname.lastname@example.org
Welcome to Bauer!
Interim Dean, C. T. Bauer College of Business
Professor of Finance