UCA College of Business Names 2020-2021 Outstanding Students

On April 8, 2021, the UCA College of Business held its annual Student Honors Banquet to celebrate the academic achievements of the College’s students and recognize the outstanding students for the 2020-2021 academic year.

Outstanding students are those who take advantage of educational opportunities and show exemplary academic performance through internships, professional development and experiential education, volunteerism, and participation in clubs and activities.

The following students were awarded an outstanding status, chosen from over 1600 undergraduate and graduate students:



OUTSTANDING STUDENT FOR THE COLLEGE OF BUSINESS: ELSA MATTSON

Elsa Mattson was named the overall Outstanding Student for the College of Business because of her many academic achievements.

A triple major with a 3.95 GPA, Elsa earned a BBA in Economics with International Trade Concentration, a BBA in Management Information Systems with a Business Analysis Concentration, and a BA in Chinese. Elsa also earned a Certified Associate in Project Management (CAPM).

As a Research Fellow for the Arkansas Center for Research in Economics (ACRE) for two years, she published a refereed journal article about occupational licensing requirements and its effect on workers during the Great Recession; published an Op-ed about Pennsylvania’s licensing requirements, which was noticed by their Governor’s office; and presented her studies at the International Academy of Business Disciplines conference. She also earned a Mainframe Apprenticeship at Ensono in summer 2020.

She served as President of Team Global at UCA and was selected to represent the College at recruiting and accreditation events during her senior year.

Elsa will begin a Master of Science in Business Analytics at William & Mary on a merit-based scholarship starting in the fall.


ACCOUNTING
OUTSTANDING MASTER OF ACCOUNTANCY STUDENT: DEVIN GILBERT

Devin Gilbert completed his BBA in Accounting at UCA and did two internships. He is currently a Graduate Assistant and tutors students in our “Principles of Accounting” and “Intermediate Accounting” courses. Devin has proven to be cool under pressure.

After graduation with his Master of Accountancy (MAcc), Devin is going to work for PricewaterhouseCoopers, the largest accounting firm in the world.

OUTSTANDING ACCOUNTING STUDENT: CLAIRE DeBUSK

Claire DeBusk just completed her BBA and is starting the UCA Master of Accountancy program this summer. While she was an undergraduate, she did five internships, served as an officer of Beta Alpha Psi, placed second with her team for Best Practices in Investing in Yourself, and was involved in service opportunities in Conway and overseas.


ECONOMICS, FINANCE, AND INSURANCE & RISK MANAGEMENT
OUTSTANDING ECONOMICS STUDENT: ELSA MATTSON

A triple major with a 3.95 GPA, Elsa Mattson earned a BBA in Economics with International Trade Concentration, a BBA in Management Information Systems with a Business Analysis Concentration, and a Bachelor of Arts in Chinese. Elsa also earned a Certified Associate in Project Management (CAPM). She served as President of Team Global at UCA and a Research Fellow for ACRE, earned a Mainframe Apprenticeship at Ensono in summer 2020, and was selected to represent the College at recruiting and accreditation events during her senior year. Elsa will begin a Master of Science in Business Analytics at William & Mary on a merit-based scholarship starting in the fall.

OUTSTANDING FINANCE STUDENT: DARYL ADOPO

Daryl achieved a 4.0 GPA, majoring in Finance with a minor in Honors Interdisciplinary Studies. While at UCA, he co-authored a paper with Dr. Chen and presented it at the 2021 International Academy of Business Disciplines conference; worked as a Life Peer Coach for Housing and Residence Life; and volunteered for several organizations and events, including the Big Event, Team Global and others. Daryl would like to pursue an MBA in Finance and earn a Data Analytics Graduate Certificate or a Masters of Science in Business Analytics, after which he may then work toward a Doctorate.  He wants to eventually work as a financial analyst at the African Bank of Development.

OUTSTANDING INSURANCE & RISK MANAGEMENT STUDENT: BETHANY ARNOLD

Bethany is a first-generation student completing a BBA in Insurance and Risk Management with expected graduation in December 2021. She is the Vice President of Gamma Iota Sigma and currently an intern at State Farm while maintaining a 3.82 GPA. She plans to begin her career in the insurance industry after graduation.


MANAGEMENT INFORMATION SYSTEMS
OUTSTANDING GENERAL BUSINESS STUDENT: ASHLEY PHIPPS

Ashley Phipps is a non-traditional student who completed her BBA in General Business completely online while raising two boys under the age of five. She graduated in May 2021 with a 3.36 GPA. She plans to begin a career in banking.

OUTSTANDING MANAGEMENT INFORMATION SYSTEMS STUDENT: KAYLA DEAN

In May 2021, Kayla Dean completed her BBA in Management Information Systems with a Programmer/Analyst Concentration. She finished with a 3.94 GPA and earned a Mainframe internship at Ensono in summer 2020. Kayla also was active in volunteer work serving in the AmeriCorps Urban Safety Program from fall 2018 to spring 2019, as a UCA Peer Coach from fall 2018 until graduation, and as an AmeriCorps BearsServe Member at the UCA Food pantry from fall 2020 to spring 2021.

OUTSTANDING INFORMATION SYSTEMS STUDENT: ROHAN SAXENA

Rohan Saxena graduated with a 3.49 GPA in May 2021, earning a BS in Information Systems with a Computer Science minor. He stayed busy during his UCA undergraduate career by studying abroad at The Hague University, earning an internship at Granules Pharmaceuticals, serving as Housing & Food Services Committee Chairman for the UCA Student Government Association, and working at UCA International Engagement and the Department of Biology. Rohan has accepted a job as Tableau Administrator at Lucid Motors, a Silicon Valley luxury electric car company.


MARKETING & MANAGEMENT
OUTSTANDING INNOVATION & ENTREPRENEURSHIP STUDENT: LOGAN TRIBBLE

Logan Tribble is working toward his BBA in Innovation & Entrepreneurship. He is not only a great student in the classroom but also an active participant in the activities of our partner, The Conductor, and the activities of the “Central Arkansas Entrepreneurial Ecosystem.”

OUTSTANDING LOGISTICS & SUPPLY CHAIN MANAGEMENT STUDENT: JACK BORNHOFT

Jack Bornhoft, the Outstanding Logistics & Supply Chain Management student, has a 3.83 GPA, is the student representative on the board of the Arkansas Trucking Association, and completed an internship with Insight Logistics Management.

OUTSTANDING MANAGEMENT STUDENT: LUCAS SOUTHARD

Lucas Southard has 3.84 GPA as he works toward a BBA in Management with a concentration in Human Resources Management.

OUTSTANDING MARKETING STUDENT: LAURA LANE & EMMA McKNIGHT

This year we have two winners for the BBA in Marketing. Both Laura Lane and Emma McKnight are outstanding students in the classroom earning GPAs of better than 3.8, and both have demonstrated tremendous potential to achieve success in their chosen field of marketing.


OUTSTANDING MASTER OF BUSINESS ADMINISTRATION STUDENT: BRANDON SCOTT PHIPPS

Brandon Scott Phipps is the Outstanding Student of the Master of Business Administration (MBA) program. Phipps received his undergraduate degree in Computer Science from UCA and has excelled in the MBA program. In addition to being a veteran, Brandon is launching a new Homewell Health Services franchise in Conway with the help of College of Business Professor Dr. Jeff Standridge.  Phipps was also recently named a member of the new class for the Conway Area Leadership Institute.



ABOUT THE COLLEGE OF BUSINESS

The UCA College of Business includes:

The goal of the UCA College of Business is to provide a hands-on, experience driven, education that prepares graduates to take on global issues. Through our diverse programs of study and distinguished faculty and staff, we take creative, engaged students and give them the tools to succeed when they earn their degrees. Our students travel the world, start their own innovative businesses, and join established businesses across the country.  Whatever their next step, our students are ready to make a positive impact.

Learn more about our programs of study and distinguished faculty and staff.

ACRE Program Coordinator Aquia Joins Arkansas Social Studies Standards Revision Committee

Arkansas Center for Research in Economics (ACRE) Program Coordinator Terra Aquia recently joined the 2021 Arkansas Social Studies Standards Revision Committee, part of the Department of Education’s Division of Elementary and Secondary Education.

She will work with the committee of teachers, curriculum specialists, higher education representatives, and community partners to revise and update Arkansas’s current standards for K-12 students. The committee ensures that upon graduation, each student is prepared for college, career, and community engagement.

As an ACRE Program Coordinator, Aquia creates educational content, resources, and opportunities that teachers can use in their classrooms to improve the economic understanding of Arkansas students.

UCA College of Business Names 2020-2021 Outstanding Students

On April 8, 2021, the UCA College of Business held its annual Student Honors Banquet to celebrate the academic achievements of the College’s students and recognize the outstanding students for the 2020-2021 academic year.

Outstanding students are those who take advantage of educational opportunities and show exemplary academic performance through internships, professional development and experiential education, volunteerism, and participation in clubs and activities.

The following students were awarded an outstanding status, chosen from over 1600 undergraduate and graduate students:



OUTSTANDING STUDENT FOR THE COLLEGE OF BUSINESS: ELSA MATTSON

Elsa Mattson was named the overall Outstanding Student for the College of Business because of her many academic achievements.

A triple major with a 3.95 GPA, Elsa earned a BBA in Economics with International Trade Concentration, a BBA in Management Information Systems with a Business Analysis Concentration, and a BA in Chinese. Elsa also earned a Certified Associate in Project Management (CAPM).

As a Research Fellow for the Arkansas Center for Research in Economics (ACRE) for two years, she published a refereed journal article about occupational licensing requirements and its effect on workers during the Great Recession; published an Op-ed about Pennsylvania’s licensing requirements, which was noticed by their Governor’s office; and presented her studies at the International Academy of Business Disciplines conference. She also earned a Mainframe Apprenticeship at Ensono in summer 2020.

She served as President of Team Global at UCA and was selected to represent the College at recruiting and accreditation events during her senior year.

Elsa will begin a Master of Science in Business Analytics at William & Mary on a merit-based scholarship starting in the fall.


ACCOUNTING
OUTSTANDING MASTER OF ACCOUNTANCY STUDENT: DEVIN GILBERT

Devin Gilbert completed his BBA in Accounting at UCA and did two internships. He is currently a Graduate Assistant and tutors students in our “Principles of Accounting” and “Intermediate Accounting” courses. Devin has proven to be cool under pressure.

After graduation with his Master of Accountancy (MAcc), Devin is going to work for PricewaterhouseCoopers, the largest accounting firm in the world.

OUTSTANDING ACCOUNTING STUDENT: CLAIRE DeBUSK

Claire DeBusk just completed her BBA and is starting the UCA Master of Accountancy program this summer. While she was an undergraduate, she did five internships, served as an officer of Beta Alpha Psi, placed second with her team for Best Practices in Investing in Yourself, and was involved in service opportunities in Conway and overseas.


ECONOMICS, FINANCE, AND INSURANCE & RISK MANAGEMENT
OUTSTANDING ECONOMICS STUDENT: ELSA MATTSON

A triple major with a 3.95 GPA, Elsa Mattson earned a BBA in Economics with International Trade Concentration, a BBA in Management Information Systems with a Business Analysis Concentration, and a Bachelor of Arts in Chinese. Elsa also earned a Certified Associate in Project Management (CAPM). She served as President of Team Global at UCA and a Research Fellow for ACRE, earned a Mainframe Apprenticeship at Ensono in summer 2020, and was selected to represent the College at recruiting and accreditation events during her senior year. Elsa will begin a Master of Science in Business Analytics at William & Mary on a merit-based scholarship starting in the fall.

OUTSTANDING FINANCE STUDENT: DARYL ADOPO

Daryl achieved a 4.0 GPA, majoring in Finance with a minor in Honors Interdisciplinary Studies. While at UCA, he co-authored a paper with Dr. Chen and presented it at the 2021 International Academy of Business Disciplines conference; worked as a Life Peer Coach for Housing and Residence Life; and volunteered for several organizations and events, including the Big Event, Team Global and others. Daryl would like to pursue an MBA in Finance and earn a Data Analytics Graduate Certificate or a Masters of Science in Business Analytics, after which he may then work toward a Doctorate.  He wants to eventually work as a financial analyst at the African Bank of Development.

OUTSTANDING INSURANCE & RISK MANAGEMENT STUDENT: BETHANY ARNOLD

Bethany is a first-generation student completing a BBA in Insurance and Risk Management with expected graduation in December 2021. She is the Vice President of Gamma Iota Sigma and currently an intern at State Farm while maintaining a 3.82 GPA. She plans to begin her career in the insurance industry after graduation.


MANAGEMENT INFORMATION SYSTEMS
OUTSTANDING GENERAL BUSINESS STUDENT: ASHLEY PHIPPS

Ashley Phipps is a non-traditional student who completed her BBA in General Business completely online while raising two boys under the age of five. She graduated in May 2021 with a 3.36 GPA. She plans to begin a career in banking.

OUTSTANDING MANAGEMENT INFORMATION SYSTEMS STUDENT: KAYLA DEAN

In May 2021, Kayla Dean completed her BBA in Management Information Systems with a Programmer/Analyst Concentration. She finished with a 3.94 GPA and earned a Mainframe internship at Ensono in summer 2020. Kayla also was active in volunteer work serving in the AmeriCorps Urban Safety Program from fall 2018 to spring 2019, as a UCA Peer Coach from fall 2018 until graduation, and as an AmeriCorps BearsServe Member at the UCA Food pantry from fall 2020 to spring 2021.

OUTSTANDING INFORMATION SYSTEMS STUDENT: ROHAN SAXENA

Rohan Saxena graduated with a 3.49 GPA in May 2021, earning a BS in Information Systems with a Computer Science minor. He stayed busy during his UCA undergraduate career by studying abroad at The Hague University, earning an internship at Granules Pharmaceuticals, serving as Housing & Food Services Committee Chairman for the UCA Student Government Association, and working at UCA International Engagement and the Department of Biology. Rohan has accepted a job as Tableau Administrator at Lucid Motors, a Silicon Valley luxury electric car company.


MARKETING & MANAGEMENT
OUTSTANDING INNOVATION & ENTREPRENEURSHIP STUDENT: LOGAN TRIBBLE

Logan Tribble is working toward his BBA in Innovation & Entrepreneurship. He is not only a great student in the classroom but also an active participant in the activities of our partner, The Conductor, and the activities of the “Central Arkansas Entrepreneurial Ecosystem.”

OUTSTANDING LOGISTICS & SUPPLY CHAIN MANAGEMENT STUDENT: JACK BORNHOFT

Jack Bornhoft, the Outstanding Logistics & Supply Chain Management student, has a 3.83 GPA, is the student representative on the board of the Arkansas Trucking Association, and completed an internship with Insight Logistics Management.

OUTSTANDING MANAGEMENT STUDENT: LUCAS SOUTHARD

Lucas Southard has 3.84 GPA as he works toward a BBA in Management with a concentration in Human Resources Management.

OUTSTANDING MARKETING STUDENT: LAURA LANE & EMMA McKNIGHT

This year we have two winners for the BBA in Marketing. Both Laura Lane and Emma McKnight are outstanding students in the classroom earning GPAs of better than 3.8, and both have demonstrated tremendous potential to achieve success in their chosen field of marketing.


OUTSTANDING MASTER OF BUSINESS ADMINISTRATION STUDENT: BRANDON SCOTT PHIPPS

Brandon Scott Phipps is the Outstanding Student of the Master of Business Administration (MBA) program. Phipps received his undergraduate degree in Computer Science from UCA and has excelled in the MBA program. In addition to being a veteran, Brandon is launching a new Homewell Health Services franchise in Conway with the help of College of Business Professor Dr. Jeff Standridge.  Phipps was also recently named a member of the new class for the Conway Area Leadership Institute.



ABOUT THE COLLEGE OF BUSINESS

The UCA College of Business includes:

The goal of the UCA College of Business is to provide a hands-on, experience driven, education that prepares graduates to take on global issues. Through our diverse programs of study and distinguished faculty and staff, we take creative, engaged students and give them the tools to succeed when they earn their degrees. Our students travel the world, start their own innovative businesses, and join established businesses across the country.  Whatever their next step, our students are ready to make a positive impact.

Learn more about our programs of study and distinguished faculty and staff.

Doug Voss: 2021 Trucking Outlook ‘Better’ Than 2020

Doug Voss, Ph.D., professor of logistics and supply chain management, said the outlook for the trucking industry is better for 2021 than last year.

“We’ve seen what I would characterize as a V-shaped recovery,” Voss told Talk Business & Politics. “Those that were down really didn’t stay down for long.”

While there hasn’t been a perfect year for trucking — with the good often offsetting the bad — he said carriers will have to increase driver pay and attract more good drivers. At the start of the pandemic, freight demand fell, especially for carriers serving the automotive industry. Demand, however, was strong for those hauling goods for retailers.

“We’ve seen what I would characterize as a V-shaped recovery,” Voss said. “Those that were down really didn’t stay down for long.”

Voss said the top challenge in the new year would be finding new drivers. Read more here.

UCA MBA Program Named to Princeton Review’s Best Business Schools List

The University of Central Arkansas’ Master in Business Administration program was named to The Princeton Review’s Best Business Schools list of Best On-Campus MBA programs.

The list recognized the top 244 on-campus MBA programs around the country and was based on survey data from more than 17,800 students and school administrators.

“What makes our Best Business Schools list unique is that we factor in data from our surveys of students attending the schools about their campus and classroom experiences,” said Rob Franek, editor-in-chief of ­The Princeton Review.

Student respondents identified cost, diversity, high academic standards, job prospects upon graduation and accessible, knowledgeable faculty as attributes that separated the UCA MBA program from others.

“It has been our goal over the last few years to grow our program and provide a high-quality, affordable and flexible graduate program that our students could use to advance their careers,” said Mark McMurtrey, Ph.D., director of the UCA MBA program. “Our continued inclusion in this ranking of top MBA programs in the country shows our students find value in our program and the concentrations we now offer.”

The UCA MBA program has more than 150 students — up from 89 in 2016 — and offers concentrations in finance, health care administration and information management, as well as an option to embed a graduate certificate in data analytics. It is accredited through the Association to Advance Collegiate Schools of Business.

How to Engage College Students in Online Learning

The switch to online learning has left professors at universities and colleges across the country scrambling for ways to effectively bring traditional, classroom teaching models to students who now attend classes from their homes, apartments and dorms by way of a computer screen.

Anthony McMullen, J.D., assistant professor of business law

Anthony McMullen, J.D., associate professor of business law in the UCA College of Business, was part of a team of seven professors at the Academy of Legal Studies in Business to create a summary of effective strategies for professors to use for online learning in higher education.

The researchers found the best way to have success teaching college courses online was to quickly orient students, humanize the online environment and maintain engaging course material.

“Many professors need guidance on this, so our purpose was to compile these tips in hopes those who are new to online teaching could gain ideas and have time to carefully plan and prepare for their courses,” McMullen said.

Welcome Module

The first step identified was having a welcome module with a host of content that introduces students to the instructor and the course. The goal is to give students “low-stakes opportunities” to get engaged and learn how to find course material and complete assignments throughout the semester.

This can include a welcome email or video, an instructor bio, student introductions, the course syllabus, a how-to video on navigating course content and assignments and introductory assignments such as a syllabus quiz.

“This helps support and guide students through the online environment, especially if they are new to online courses,” the report states.

Humanizing the Course

Professors must also have a strong emphasis on the connection between faculty and students, as well as between students, the researchers found.

“You have to find a way to humanize the course and content,” the report states. “Professors need to facilitate multiple interactions with students without creating a barrier between technology and student engagement with the material. Previous research has found students from at-risk demographic groups had lower performance in online courses.”

One important factor to this is the use of online discussion boards.

“These can help instructors bridge the pedagogical gap between face-to-face and online learning by encouraging active student engagement,” the report said.

While discussion boards are often used, getting students to participate can be challenging, so it is important for professors to layout instructions and expectations from the beginning.

“This will encourage participation and create an environment of accountability and mutual respect,” the researchers said. “One tip is to have students not only post their own threads, but be required to comment on other student posts as well.”

Presenting On-Screen

Professors should use both synchronous and asynchronous material that effectively present the content of the course, complement one another and improve student motivation.

Synchronous instruction can include video conferencing to provide feedback on assignments, techniques and exam review.

“One recent technique that has found student satisfaction is presenting the professor’s screen,” the report states. “This allows professors to show PowerPoint slides normally shown during class. Professors can write and draw on the whiteboard and students can see that happening, just like a normal class.”

Voice-over PowerPoint presentations is an effective way to implement asynchronous learning, as well as assigning students to view short videos — preferably 6 minutes or less — on single topics discussed in the material.

“These ideas and others discussed in our article will be effective for teaching online, even when students return to physical classrooms,” the report said. “These strategies will help instructors reach and educate students wherever they may be.”

UCA Information Management MBA Ranked Among Top Programs

The Information Management MBA at UCA was ranked among the top programs in the country by Best Value Schools.

The program was ranked No. 8 among MBA programs in information technology, management and systems.

“The program is designed to help students prepare for upper management positions in the corporate world,” said Best Value Schools of the UCA program. “It focuses on project-based instruction, case studies, computer technology, research, problem solving, communications and teamwork.”

The Information Management MBA is one of four concentrations offered at UCA, in addition to a general MBA program. The Information Management MBA includes 21 hours of core courses and 9 hours of electives that include courses in quantitative analytical methods, project management, principles of information security and business intelligence.

Learn more about the Information Management MBA here.

In October, Best Value Schools named the UCA MBA program among the most affordable online programs in the country. It was the highest-rated Arkansas school and second-highest Southland Conference school named to the list.

Doug Voss Named to American Transportation Research Institute’s Research Advisory Committee

Doug Voss, Ph.D., professor of logistics and supply chain management

Doug Voss, Ph.D., professor of logistics and supply chain management, has been appointed to the American Transportation Research Institute’s Research Advisory Committee.

As part of the committee, Voss will help the institute identify top research priorities for the trucking industry. The appointment runs through 2022.

“Our members serve a critical role in identifying and prioritizing the trucking industry’s top research needs,” said Rebecca Brewster, president and COO of the American Transportation Research Institute. “We congratulate all those appointed by the ATRI Board to serve in this important role and look forward to working with them.”

The American Transportation Research Institute, founded in 1954, conducts transportation research that focuses on the industry’s role in a safe, efficient and viable transportation system. In the past, this has included research on congestion, economic analysis, safety, security, technology, environment and infrastructure.

Its research committee is composed of professionals from across the trucking industry, including sectors like motor carriers, industry suppliers, drivers, shippers, academia and government.

Voss is the director of the UCA College of Business’ Center for Logistics Education, Advancement and Research, and was named the Scott E. Bennett Arkansas Highway Commission Endowed Chair of Motor Carrier Management in 2015. He has been at UCA since 2007.

Voss is the first person from UCA to serve on the American Transportation Research Institute’s Research Advisory Committee.

“Dr. Voss has been vital to the growth of our logistics program since its inception in 2017,” said Michael Hargis, dean of the College of Business. “This latest recognition shows our program continues to gain respect among industry professionals across the region and nation, thanks to Dr. Voss’ efforts.”

Voss also serves on the Arkansas Trucking Association Board of Directors and has since 2015. He was a member of the inaugural class of the Arkansas Trucking Association’s 40 Under 40 Council in 2010 and served on the council through 2016.

He earned his bachelor’s and master’s in transportation and logistics at the University of Arkansas. He earned his doctorate in logistics at Michigan State University.

Marketing Professor Susan Myers Wins Award for Paper on Instagram Engagement During Pandemic

Susan Myers, Ph.D., associate professor of marketing

Susan Myers, Ph.D., associate professor of marketing, won Best Paper: Digital & Social Media from the Society for Marketing Advances for her work regarding increased Instagram use during this year’s pandemic.

Myers received the award Nov. 6 during SMA’s virtual 2020 conference.

Her paper looked at how COVID-19 restrictions and social distancing guidelines impacted consumer use of Instagram by looking at engagement rates with the top brands on the platform. The study compared engagement rates in the two months prior to the first regulations put in place for COVID-19 and the two months following it.

“The research indicated the engagement rate per post was higher during the pandemic than before despite the fact there was not a significant difference in the quantity of posts made by the brands,” Myers said.

Myers also found that consumers were generally looking for content unrelated to the pandemic as posts with COVID-related hashtags did not have a higher rate of engagement.

While some of these changes in social media use may be temporary, Myers said corporations will likely continue to invest more as consumers develop new routines in the pandemic.

“It seems doubtful that consumers will return completely to the old ways of operating as customer expectations for digital alternatives have grown,” Myers said. “Customer reliance on digital consumption continues to grow as will their expectations for brands’ digital experiences.”

The Restaurant Recession

Jeremy Horpedahl, Ph.D., assistant professor of economics

One of the most visible signs of the COVID-19 recession has been the massive harm to restaurants and bars. We see it as we drive around town: Restaurants are closed, doing curbside service only, or have radically altered their layout to make their spaces safer.

We can also see the harm to restaurants in the economic data. Back in the depths of the shutdowns and labor market contraction in April, fully one-third of all job losses in Texas were centered on the “food services and drinking places” industry, as the Bureau of Labor Statistics calls these establishments. Pre-pandemic, this industry accounted for 8.7 percent of all nonfarm jobs in Texas.

In total, over 450,000 restaurant and bar workers were out of work, out of about 1.1 million before the pandemic. Relative to the size of the restaurant and bar industry, workers at these businesses were hit four times as hard as the average worker. While everything is bigger in Texas, these figures are closely comparable to national data, where restaurants and bars accounted for 7.9 percent of employment before the pandemic, and about 28 percent of job losses through April.

Within the restaurant and bar industry, bars and restaurants that depend primarily on dining room service were hit much harder. Fast food restaurants, for example, were already well-equipped to provide drive-thru service.

Read more at Texas CEO Magazine.

Living in the What If: Managing Risk in 2020

Cindi Burleson, director of the Center for Insurance & Risk Management

When I was a risk manager there were times I sat with the executive team planning for the future and an idea would be presented that prompted many “what if” questions. A lot of heads would shake and, occasionally some would ask, “Do you have to be in the room?”

Here are some of those questions:

  • What if our servers completely crash and we can’t operate for a time?
  • What if there is a market crash and our investments take a hit that requires months, or even years, to reach a recovery point
  • What if hiring practices we’re considering lead to disgruntled workers?
  • What if there is a pandemic that results in our business being shut down for a long time — for instance, one to six months or longer?

These questions were asked to determine how the company would respond to potential business-disrupting situations. These are low-frequency occurrences that would have a high impact. And this is exactly where many businesses are living today.

Read more at ArkansasBusiness.com.