The Fuqua School of Business (pronounced /ËfjuËkwÉ/) is the business school of Duke University in Durham, North Carolina, United States. It currently enrolls more than 1,300 students in degree-seeking programs. These programs include the Daytime Master of Business Administration (MBA), the Global Executive MBA, the Cross Continent MBA, the Weekend Executive MBA, the Master of Management Studies: Foundations of Business, Master of Management Studies: Duke Kunshan University (starting in fall 2014), Master of Management Studies (in partnership with the Seoul National University), joint degree programs (including joint degrees in medicine, law, environmental management, forestry, public policy, and nursing), and a Ph.D. program. Additionally, Duke Executive Education offers non-degree business education and professional development programs. Fuqua is currently the top ranked business school in the United States by Bloomberg BusinessWeek.
Formed in 1969, the Graduate School of Business Administration enrolled its first class of 20 students in 1970. In 1974, Thomas F. Keller, a 1953 Duke graduate, became the graduate school's new dean. In three years, Keller's capital campaign raised $24 million, $10 million of which came from businessman and philanthropist J.B. Fuqua. The graduate school's name was then changed to The Fuqua School of Business.
J.B. Fuqua was raised by his grandparents on a tobacco farm in Prince Edward County, Virginia. Fuqua began his relationship with Duke University when he borrowed books by mail from the Duke library. J.B. Fuqua's cumulative giving to Duke was nearly $40 million at the time of his death on April 5, 2006.
In September 2008, Fuqua launched an expansion initiative to establish campuses in St. Petersburg, Russia; Dubai, United Arab Emirates; Shanghai/Kunshan, China; New Delhi, India; and London, England.
Admission to the Daytime MBA program is highly competitive. For the Class of 2014, 27% of 3,161 applicants were accepted to fill a class of 432; the average GMAT score was 697. Fuqua reports an 80% GMAT range of 640-740, with 40% international and 33% female students.
The school's faculty is organized into ten disciplines, including Accounting, Marketing, Decision Sciences, Economics, Finance, Management, Health Sector Management, Management Communication, Operations Management, and Strategy. The daytime MBA program offers concentrations in Marketing, Decision Sciences, Energy and Environment, Entrepreneurship and Innovation, Finance, Financial Analysis, Leadership and Ethics, Management, Operations Management, Social Entrepreneurship, and Strategy. The faculty was ranked No.1 in the US by BusinessWeek (Intellectual Capital) in 2010 and 2012.
While working at Duke University, former Professor Robert E. Whaley developed the Chicago Board Options Exchange Volatility Index (ticker symbol: VIX), a measure of the implied market volatility. Another notable faculty member is Dan Ariely, an Israeli-American professor of psychology and behavioral economics.
The Duke MBA offers several joint degree programs in conjunction with other highly respected graduate and professional programs at Duke. These programs allow students to earn two degrees in less time than if they pursued the two separately.
Joint degrees offered with Duke University School of Medicine, Duke University School of Law, Nicholas School of the Environment and Earth Sciences, Sanford School of Public Policy, and the Duke University School of Nursing.
Research centers at The Fuqua School of Business further specific academic interests of the business school. Such research centers include:
- The Fuqua/Coach K Center of Leadership & Ethics (COLE) â" COLE was established as a collaboration between Fuqua, Duke Athletics and The Kenan Institute for Ethics to advance leadership through research and education.
- Center for the Advancement of Social Entrepreneurship (CASE) â" The center promotes innovative and entrepreneurial approaches to improving social conditions through education and research.
- The Center for International Business Education and Research (CIBER) â" Duke's CIBER incorporates international content into Fuqua courses, hosts workshops and conferences and promotes international research. It is also the lead research center involved in the Offshoring Research Network, an international network that studies the offshore sourcing of business processes and services.
- Center of Entrepreneurship and Innovation (CEI) â" Fuqua created this center to advance scholarship in the areas of entrepreneurship and innovation, with the goal of creating one of the top environments for students interested in entrepreneurship.
- Center for Energy, Development and the Global Environment (EDGE) â" EDGE pursues education, research, and outreach focusing on two primary topical areas: Global Energy and Corporate Sustainability. Through education, research, and engagement, EDGE identifies the most promising pathways toward a sustainable energy system and economy, works with leading firms to drive these innovations across their value chains, and helps seed the partnerships that can accelerate these transformations.
- Center for Financial Excellence- The Center for Financial Excellence supports financial research and education at Duke, with particular emphasis on strengthening relationships between faculty, students, and finance professionals.
Some research shows that students studying business describe themselves as being academically dishonest more often than students pursuing other types of degrees. To address such concerns, the school instituted an extensive honor code. At the end of the 2006â"2007 academic year, Fuqua initiated a disciplinary action that was taken against 34 of the school's first-year MBA students â" almost 10% of the school's 2008 class â" for cheating on an open-book, take-home final exam. The Fuqua Judicial Board ruled in late April 2007 that 9 students should be expelled and 15 students receive a one-year suspension and a failing grade in the course. Nine others received a failing grade in the course and one student received a failing grade on an exam. All convictions and penalties were upheld by the school's appeals committee.
The 2011 Forbes full-time MBA rankings indicated that Fuqua graduates achieved the 15th highest average salary following graduation for the class of 2013.
The 2013 Financial Times ranking indicated that of the MBAs graduating in 2009, Fuqua graduates achieved the 14th highest salary in the United States, and the 20th highest salary worldwide, three years after graduation.
For the graduating, full-time MBA Class of 2013, the top three hiring companies include: Deloitte (28 hires), Microsoft (12 hires), and Accenture(12 hires).
The daytime MBA program at The Fuqua School of Business was ranked:
- 1st (U.S.) BusinessWeek 2014
- 8th (U.S.) Forbes 2013
- 13th (U.S.) U.S. News and World Report 2015
- 11th (U.S.) and 17th (World) Financial Times 2014
- 9th (U.S.) Poets&Quants 2012
- 10th (North America) QS Global 200 Business Schools Report 2012
- 12th (U.S.) The Vault's Ranking of Best Business Schools 2013
- 15th (US) College Choice Ranking of MBA Programs 2014
- 18th (U.S.) and 25th (World) The Economist 2014
The daytime MBA program at The Fuqua School of Business also has the following rankings based on each respective category:
- 1st (U.S.) BusinessWeek 2012 - within the intellectual capital category
- 2nd (World) University of Texas at Dallas Top 100 World Rankings of Business Schools Based on Research Contributions to academic journals in 2011
- 5th (U.S.) "Toughest To Get Into" and 10th (U.S.) for "Best Classroom Experience" Princeton Review, The 2010 Edition: The Best 301 Business Schools
- 9th (U.S.) U.S. News and World Report 2011 - ranking of U.S. "Business Schools That Receive the Most Full-Time Applications"
- 14th in salary 3 years after graduation (U.S.) Financial Times 2014
- 15th in salary 5 years after graduation (U.S.) Forbes 2013
- 14th in career salary (U.S.) Fortune Magazine/PoetsandQuants 2014
Duke Corporate Education, a carve-out of the Executive Education program at The Fuqua School of Business, was ranked:
- 1st (World) Financial Times 2011 - for customized non-degree executive education programs
- 1st (World) BusinessWeek 2010 - for customized executive education programs
The Executive MBA program at The Fuqua School of Business was ranked:
- 4th (U.S.) U.S. News and World Report 2014
- 10th (schools with a U.S. presence) and 9th (World) Financial Times 2012
- 12th (World) BusinessWeek 2011
- Harsha V. Agadi (M.B.A. 1987), CEO and Chairman, Friendly's; Former President and CEO, Church's Chicken;
- John A. Allison IV (M.B.A. 1974), Head of the Cato Institute; Former Chairman and CEO, BB&T;
- Kerrii Anderson (Weekend Executive M.B.A. 1987), Former CEO and President, Wendy's International, Inc.;
- Jack O. Bovender Jr. (M.H.A. 1969), Former Chairman and CEO, HCA;
- Jonathan Browning (Global Executive M.B.A. 1997) U.S. CEO, Volkswagen Group of America;
- Jessica Faye Carter (J.D. 2002, M.B.A. 2002), author, columnist, social media entrepreneur;
- Timothy D. Cook (M.B.A. 1988), CEO, Apple Inc.;
- Brian L. Derksen (M.B.A. 1978), Deputy Chief Executive Officer, Deloitte;
- Joe Euteneuer (Global Executive M.B.A.), CFO, Sprint Nextel;
- Thomas Finke (M.B.A. 1991), Chairman and CEO, Babson Capital Management;
- Lennie Friedman, NFL football player
- Melinda Gates (A.B. 1986, M.B.A. 1987), Co-Founder of the Bill and Melinda Gates Foundation, wife of Bill Gates;
- Pat Garrity, (M.B.A. 2011), NBA basketball player
- Hank Halter (M.B.A. 1993), CFO, Delta Air Lines;
- Brian Hamilton (M.B.A. 1990), Chairman, Sageworks;
- W. Bruce Johnson (B.A., J.D., M.B.A. 1977), Interim Chief Executive Officer and President, Sears Holdings Corporation;
- Timothy Kasbe (M.B.A. 2000), Chief Information Officer, Intrexon;
- L. Kevin Kelly (M.B.A 1999), CEO of Heidrick & Struggles;
- Jeffrey Kip (M.B.A. 1999), CFO, IAC (company); Former CFO of Panera Bread;
- Michael Lamach (MS, Global Executive M.B.A. 2001), President, Chairman, and CEO, Ingersoll Rand;
- J. Richard Leaman III (B.A. 1984, M.B.A. 1986), Former Chairman and Global Head of Investment Banking, UBS;
- Ron Nicol (M.B.A. 1986), Senior Partner and Managing Director, Boston Consulting Group;
- John C. Pope (M.B.A. 1999), COO, O'Neill Wetsuit
- Mark Rampolla (M.B.A. 1997), Founder and CEO of ZICO Beverages
- Frank Riddick III (M.B.A. 1980), Former CEO, Formica Corporation;
- Mark Rosenbaum (M.B.A. 1987), Chief Financial Officer, MySpace;
- Dr. Phil Schubert (Cross Continent M.B.A. 2006), President, Abilene Christian University;
- Ahmad Sharaf (Global Executive M.B.A. 2001), Chairman, Dubai Mercantile Exchange (DME);
- Malvinder Mohan Singh (M.B.A. 1998), Chairman, Religare Enterprises Limited, currently shares the title as 15th richest man in India;
- Shivinder Mohan Singh (M.B.A. 2000), Managing Director, Fortis Healthcare Limited, currently shares the title as 15th richest man in India;
- Sam A. Solomon (M.B.A. 1992), President and CEO, Coleman Company;
- Terry Thompson (M.B.A. 1999), COO of Mercer;
- John C. Walters (Weekend Executive M.B.A. 1994), President & COO, Hartford Life;
- Pamela J. White (M.B.A. 1988), CFO, Victoria's Secret;
- List of United States business school rankings
- List of business schools in the United States
1. MBA Exam Notes & Study Materials
- Fuqua School Website
- QS TopMBA: Top 100 Business Schools in North America