The KEEP Connection

From the Associate Dean

A New Year and New Opportunities – that's our theme for Krannert Executive Education Programs as we enter 2012. Although the past several years have seen more uncertainty than we would like, we are convinced that 2012 has the potential for all of us to reach new heights and create something better than before. Here at KEEP, we are looking at ways to develop new opportunities for both our current and future alumni. Our 'Research for Executives' feature provides new ideas for better incentive systems for you as managers. Our KEEP Calendar lets you see the upcoming opportunities we offer. We've also been updating our website (, which provides more details on the opportunities our programs offer. And our last page shows you the people helping make the opportunities in our programs a reality. There you will see some familiar faces and new names - together they represent a team that has been great to work with and that is ready to help you.

David SchoormanWe look forward to strengthening our ties with you and hearing how you are doing as well as what we can do for you. I would like to encourage you to share your successes and concerns as we work to make the KEEP Connection a resource that you look forward to each quarter.

Happy New Year!

David Schoorman

David Schoorman

Share the Date

KEEP is inviting prospective students to our Profile Day on Friday, January 13 from 9 am to 12:30 pm. It is open to all who are considering an MBA and believe our Executive MBA or International Master's of Management degree programs may help them achieve their career goals. The day's schedule is:

9:00 AM:
Check In and Tour of Facilities

9:30 AM:
Profile Program Presentation

10:00 AM:
Opportunity to Attend Class

11:30 AM:
Lunch with current
EMBA students

For more information or to register, please email JoAnn Whitford ( or go to: programs/executive/Profile_ Programs/

JANUARY 2012 Krannert School of Management


Creating Ownership in Your Organization

So, what is the key to motivating your employees to take ownership of the long term wellbeing and performance of your company? One evidence based answer is that open book management (information sharing) and decentralized decision making practices are far more likely to foster ownership attitudes and behavior than stock ownership in isolation.

For more information or a copy of the published research study referenced in this article, please contact Professor Dunford directly at

Enter the search phrase “rental car abuse” into YouTube, and you will find dozens of extreme examples of the principle that owners treat objects differently than do non-owners. In the absence of significant accountability, renters may have little interest in the long term performance or well-being of a rental car, and may even mistreat it. Conversely, car owners have strong incentives to care for their car and maximize its long term performance.

This principle of ownership applies to organizations which are increasingly seeking to motivate their employees to take actions to preserve the wellbeing of the firm, and maximize its long term performance. For example, stock based rewards are now commonly given to make workers feel and act like owners of the firm. The National Center for Employee Ownership estimates that 36% of the US workforce now owns stock in their own firm through various forms such as 401(k) plans, stock purchase plans, broad based stock options and profit sharing. Conventional wisdom suggests that shares of stock give employees a salient financial incentive to engage in activities that facilitate the long term performance and wellbeing of the firm.

Recent research by Professor Benjamin Dunford and colleagues at the Krannert School of Management advocates an update to this conventional approach.The study indicates that stock ownership may be rather ineffective for motivating employee ownership attitudes and behavior, unless it is accompanied by other participative management initiatives.

In a sample of 510 employees from a commercial real estate firm, Professor Dunford and colleagues show that three conditions must be met before employees are likely to feel and act like owners. First, they must perceive that they share substantially in the profits of the firm. Second, they must perceive that they have control over relevant decisions in the firm. Third, they must perceive that they have access to relevant information concerning the firm.

In a statistical analysis of survey and stock ownership data, Dunford and colleagues found that employee perceptions of control and information were significantly stronger predictors of their loyalty to the firm and job performance than was their stock ownership. This is an important finding because stock based rewards on their own rarely give recipients a meaningful voice in decisions that are relevant to them nor do they give recipients access to information concerning the firm.

Calendar of Upcoming Opportunities at KEEP



8-21 Executive MBA 2012 Residency #5
(West Lafayette, IN)
13 KEEP Profile Day (9 AM – 1:00 PM)
26 -29 Veterinary Management Institute (VMI): Finance Module


9 -12 Veterinary Management Institute (VMI): Strategy Module
12 -25 IMM 2012 Residency #3 in Mexico City and Puebla, Mexico


11-24 Executive MBA Residency #6 in Shanghai, Xi’an, and Beijing, China
25-30 IMM 2013 Program Launch (West Lafayette, IN)


14-25 Advanced Management Principles (AMP) (West Lafayette, IN)
21 Chinese Entrepreneurship Training (West Lafayette, IN)


3-16 IMM 2012 Residency #4 in West Lafayette, IN
17-30 IMM 2013 Residency #1 of one week each at Tias/Nimbas
(Tilburg, the Netherlands) and GISMA (Hannover, Germany)


16 -25 Entrepreneurship Bootcamp for Veterans with Disabilities (West Lafayette, IN)


10-14 Executive MBA 2014 Program Launch (West Lafayette, IN)
20 -23 Veterinary Management Institute (VMI): Human Resource Management Module


7-20 IMM 2012 Residency #5 in China
16-19 Technical Management Institute
25-28 Veterinary Management Institution: Marketing Module
28 -Nov. 10 IMM 2013 Residency #2 at CEU (Budapest, Hungary)

Executive MBA Program –
An Improved Program for a Changing World

In November 2011, the faculty of the Krannert School of Management approved a new curriculum for the KEEP Executive MBA program. This new curriculum provides for a mix of in-class and on-line learning that cover the core skills needed for MBA graduates. Additional benefits for participants starting in September 2012 include: a reduced core that allows students to customize their plans of study, selection of three functional electives from a pool of 5-7 options, immersion electives focusing on a student selected subject for in-depth study, and active learning projects where students combine their experience and classroom skills to solve business problems for a company.

Congratulations to IMM 2011 Graduating Class

On the weekend of December 17-18, we welcomed the IMM graduating class of 2011 along with their friends and families. After a warm and energetic reception the evening of the 17th, the graduates and their guests participated in commencement exercises the next day. We were glad to have so many attend from around the world and look forward to hearing of your successes in the future.

IMM 2011 Class

People to Know at KEEP

JoAnn Whitford

JoAnn Whitford, Assistant Director of Admissions, has been with the executive programs at Purdue since 1993. She has a deep dedication to recruiting for our degree programs and assisting prospective students move through the admissions process with ease. She is a Southerner by birth, a graduate of Louisiana State University, and prior to Purdue, worked as a writer. JoAnn's favorite pastime is reading — both fiction and non-fiction. She is also very interested in the American Civil War era and enjoys visiting historical sites and watching the History Channel.

Cathy Garrison

Cathy Garrison is the Senior Program Manager for Krannert Executive Education Programs (KEEP). Cathy manages the EMBA and IMM degree programs and our four certificate programs. Cathy has been in the KEEP department since 1994. Cathy spends her spare time with her family including five grandchildren. She also enjoys golf, racquetball, tennis, reading, and sewing.

Yvonne Ray

Yvonne Ray's official title is Administrative Assistant, but she is more of a Logistics Manager. In that role, she manages the logistics for all of our programs, oversee all aspects of the student workers and building sitters and "other duties as tasked" (of which there are many). She's been with KEEP since 1998 and has helped to graduate over 40 executive classes. In the summer, Yvonne enjoys spending time at the lake going boating, tubing, fishing, and riding in golf carts along wooded trails. Winter is reserved for crocheting, cooking, and reading. However, her favorite activity is spending time with her husband, children and granddaughter.

Aldas Kriauciunas

Aldas Kriauciunas is the Executive Director of KEEP and the new kid on the block. He has been at Krannert since 2003 as an assistant professor of strategic management and officially started his director position on January 2, 2012. In that role, he undertakes program reviews, ensures the programs meet participant needs, and creates custom programs for companies. In his spare time, Aldas enjoys travelling with his family, backpacking/camping, and anything Lithuanian.

The KEEP Connection
is published quarterly for alumni and friends of the Krannert Executive Education Programs (KEEP) at Purdue University. We welcome your comments, opinions, and questions. Please contact us at:

The KEEP Connection
Purdue University
425 West State Street
   Suite 206
West Lafayette, IN 47907-2056
(765) 494-4580

Executive Director


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Purdue Krannert School of Management


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