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Kelley students tackle climate finance and maritime decarbonization at COP29 

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Week 1 students at COP in Baku

Week one IU student delegates: Valerie Grau, Kathleen Suelzer, Declan Gallagher, Kyle Springer, Abigail Garrison, Khoi Hua, Daniel Farrell, and Madison Harris in Baku.

By Abigail Garrison and Kyle Springer, Class of 2025 

Every semester, IU sends a delegation of undergraduate, masters, and PhD students to attend the Conference of Parties (COP) hosted by the United Nations Framework Convention on Climate Change (UNFCCC). For the Fall 2024 semester, the 29th COP was hosted in Baku, Azerbaijan.  

Each student prepares a research proposal and investigates their selected topic by attending negotiations, listening to panels, and interviewing experts. The delegation consists of students from a wide range of disciplines who have interests in climate change and sustainability.  

Before attending the conference, all students take part in a course that educates them on the inner workings of the UNFCCC. Much of this study focuses on the Paris Agreement, which is largely regarded as a guiding document for future conferences to aspire to keep global temperatures below 1.5 degrees Celsius.  

An interdisciplinary approach is necessary to combat climate change, and every job is or will soon become a climate job. Examples of research topics from Kelley students Kyle Springer and Abigail Garrison include quality considerations of climate finance with a focus on the New Collective Quantified Goal (NCQG) and the decarbonization of the maritime sector.  

This year was deemed the “Finance COP” because negotiations centered around the NCQG, which set a financial goal of $300 billion annually to contribute to climate change. Along with overall quantity, quality was a major concern. While speaking to national representatives of climate funds from all around the world, Kyle was able to gain insight into the most pressing needs in climate finance, including debt-free financing, equitable accessibility to finance, and standardized reporting frameworks.  

The maritime sector is considered a hard-to-abate industry. This means that it is difficult for the maritime sector to reach carbon neutrality. During COP29, Abigail was looking at how this sector can reach the goal of carbon neutrality by 2050. She spoke to a multitude of different individuals focused on the private sector and alternative fuels, and those from small island states. Many of the events she attended were about a carbon tax on the sector and how to scale up alternative fuels.  

This research opportunity was a life-changing experience for those passionate about solving the climate crisis. It was motivating to see so many people doing great work to limit global temperature increase. This was a reminder that companies and governments need students who are passionate about climate change as it’s a global issue that goes beyond borders.  

Kyle and Abigail are extremely grateful for the financial support they received for this experience from the Kelley Institute for Environmental and Social Sustainability. Additional support for all participants was received from the Hamilton Lugar School, O’Neill School, College of Arts and Sciences, Kelley School of Business, School of Social Work, Ostrom Workshop, Integrated Program on the Environment, Environmental Resilience Institute, Department of Spanish and Portuguese, Russian Flagship, Political and Civic Engagement, Center for International Business Education and Research (CIBER), and IU Housing.  

Kelley earns No. 1 and 2 spots in global ranking

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The Global Ranking of Academic Subjects (GRAS) ranks Kelley’s world-class faculty No. 1 and the Business Administration program No. 2 in the world.   

Graphic with ranking data

The 2024 GRAS contains rankings of universities in 55 subjects across natural sciences, engineering, life sciences, medical sciences, and social sciences. More than 1,900 universities across 96 countries are listed in the rankings. The rankings are released annually and use several main measures to determine the rankings, such as the number of alumni and staff winning Nobel Prizes and Field Medals, number of highly cited researchers and number of articles published in scientific journals. 

The GRAS rankings use a range of objective academic indicators and third-party data to measure the performance of world universities in respective subjects, covering five major evaluation categories. 

Graphic with indicators used for ranking

Building excellence together – Kelley Global and UKIM partnership

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Picture of Vardar River in Skopje.

A breathtaking aerial view showcasing the Vardar River gracefully winding through the heart of downtown Skopje.

At Kelley Global, we are committed to shaping the future of business education through transformative partnerships. Since 2020, our collaboration with the Faculty of Economics at Sts. Cyril and Methodius University (UKIM) in North Macedonia has been a strong example of what we can achieve together. This six-year initiative, funded through a grant from the U.S. Embassy Skopje, has not only set the foundation for lasting institutional growth, it is also expanding global higher education partnership opportunities in the Balkan region. 

A foundation of excellence: Strategic Human Resources Masters Program

The partnership began with the design and successful launch of the Strategic Human Resources Management (SHRM) Masters degree in 2021, which to date has enrolled 33 students and graduated three students. By leveraging Kelley’s expertise in innovative business education and programs, this degree has equipped students with advanced skills tailored to meet the growing demands of the region’s dynamic business landscape.

“Enrolling in the MBA in Strategic Human Resources Management Master’s Program was one of the best decisions I have ever made. The program did not just equip me with knowledge in advanced HR strategies, HR data analytics, employer branding, cross-cultural HR culture, change management, and more – it transformed how I approach challenges in the constantly changing work dynamics in my region and globally. As one of the 33 enrolled students, which were also joined by 4 Erasmus mobility students from outside of North Macedonia, I gained personalized mentorship and hands-on learning with the expertise of professors from the Faculty of Economics – Skopje and Kelley School of Business, which inspired me to aim higher.”  – Bojan Kitanovikj, SHRM Alumnus

Paving the path to AACSB accreditation

As the collaboration evolved, the focus expanded to the UKIM Faculty of Economics’ pursuit of AACSB accreditation. This rigorous process, which includes meeting global benchmarks in nine key areas, gained significant momentum with the recent acceptance of UKIM’s Eligibility Application in 2024. With guidance from an AACSB-appointed mentor and support from Kelley faculty and staff, UKIM continues to make substantial progress towards the submission of their final accreditation application, positioning the UKIM Faculty of Economics as a regional leader in business education​​. 

Highlighting expertise: Global thought leaders

Photo of woman speaking at podium

Rebecca Slotegraaf, Associate Dean for Research, Neal Gilliatt Chair, and Professor of Marketing, delivers the keynote address in Skopje. (Photo courtesy of Sts. Cyril and Methodius University.)

The partnership has also been marked by a robust exchange of expertise. Rebecca Slotegraaf, Associate Dean for Research, Neal Gilliatt Chair, and Professor of Marketing at the Kelley School of Business delivered her keynote titled “Exploring Broad Implications of Environmental Sustainability in Academic Research” at the recently held 5th International Scientific Economic and Business Trends Shaping the Future conference on November 14, 2024.

Previous speakers from the Kelley School of Business at this conference include:  

  • Scott Shackelford (2023): Professor of Business Law and Ethics, Executive Director of the Center for Applied Cybersecurity Research
  • Jamie Prenkert (2022): Executive Associate Dean for Faculty and Research, Professor of Business Law 
  • Idie Kesner (2021): Dean and Professor of Management 
  • Phil Powell (2020): Associate Dean of Academic Programs – Indianapolis 

Each speaker has brought their unique perspective, reinforcing the shared mission to drive innovation and leadership in business education​​, and highlights ongoing commitment of the Kelley School towards the ongoing success of this global partnership. 

Expanding opportunities: Research and student engagement

Beyond the scope of the grant, the partnership continues to flourish. In 2025, six students in Kelley’s Graduate Accounting Program (GAP) will travel to Skopje to engage in experiential learning projects, deepening cross-cultural and professional ties. Research collaborations between Kelley and UKIM faculty are also expanding, through exploration of shared research interests and potential collaborations.  

Looking ahead

As we move into the final phases of this collaboration, we remain focused on supporting UKIM’s efforts to become a hub for top-tier business education in the Balkan region. By blending the expertise of U.S. business education programs with regional cultural insights and connections, this partnership is creating a sustainable model that benefits students, faculty, and regional businesses alike. 

Stay connected with Kelley Global for updates on this and other initiatives that are shaping the future of global business education. 

IU CIBER: Empowering businesses and students through global opportunities

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For more than 30 years, Indiana University’s Center for International Business Education and Research (CIBER) has been a catalyst for advancing global engagement. Funded by the U.S. Department of Education, CIBER promotes international business expertise, supports workforce development, and equips students and companies with the skills they need to compete in an interconnected world. IU is one of only 16 funded CIBERs across the United States.

A key pillar of IU CIBER’s mission is to support Indiana businesses in overcoming challenges related to internationalization. Through innovative initiatives like the Internship Funding Program, CIBER helps small and medium-sized businesses (SMEs) expand their global reach while providing students with transformative, hands-on learning experiences. By connecting local businesses with Indiana’s talented students, CIBER creates opportunities that not only drive economic growth but also foster cross-cultural understanding and global competence.

CIBER interns have worked with 25 Indiana companies to internationalize their operations since 2018.

The impact of this program is evident in stories like that of Zak Hornberger, a Kelley School alumnus who interned with CosaWove Workwear. With the help of IU CIBER’s funding, Zak developed a comprehensive export plan that directly contributed to the company’s global expansion. Lisa Hutson, Owner and CEO of CosaWove, remarked, “It was crucial to our export plan and success. Our intern built out our entire export plan.” After graduating in summer 2024, Zak accepted a full-time position with CosaWove, illustrating how internships can bridge local talent with international business success.

Scott Massey, Founder and CEO of Heliponix, doing business as anu, also experienced the value of the Internship Funding Program by hiring an intern who tackled complex export challenges for agricultural products. “We had an excellent experience in the IU CIBER Program by being able to hire a student that we would not have had the capital to have brought on otherwise. This allowed us to get much more focused attentiveness to the export program, which will now allow us to reach international markets in ways that would have required years of trial and error. Because of the program, we have now developed compliance protocols for strict agricultural regulations and are looking forward to hiring more Hoosiers into our business,” Massey shared.

Photo of Grace Alexander

Grace Alexandar interned with TLC Candle and was hired as a full-time employee.

Another success story comes from TLC Candle Company, a small business in Indiana. CEO Tami Crawford participated in CIBER’s export cohort program and leveraged the Internship Funding Program to hire Grace Alexander, a student at Ivy Tech in Anderson. Together, they identified international markets in Canada, the EU, and Australia.

“Over the summer, Grace and I went through the intense program,” Crawford shared. “At the conclusion of the 12 weeks, we were invited by the US government to be one of 10 companies to present at the Sydney Gift Show in February ’25. This opportunity would not have been possible without the help and dedication of an intern.” Crawford has since hired Grace full-time as TLC Candle prepares for this exciting global opportunity.

The Internship Funding Program underscores IU CIBER’s commitment to creating lasting benefits for businesses, students, and Indiana’s economy. With up to 50% wage reimbursement available and additional funding from the Employment Aid Readiness Network (EARN) Indiana program, SMEs can afford to explore new global opportunities while creating meaningful internship experiences for Indiana’s students.

For businesses, the benefits include increased revenue potential, access to new markets, and strengthened competitiveness. For students, internships provide hands-on experience and a chance to make a lasting impact.

Through programs like this, IU CIBER continues its mission to promote global competence, foster economic development, and position Indiana as a leader in the international marketplace.

For more information on IU CIBER initiatives, contact ciber@iu.edu.

Kelley School strengthens engagement and recruiting in Latin America

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Large group of MBA students outside

Kelley Latin MBA students enjoying the Bloomington fall weather.

The Kelley School of Business continues to build strong connections across Latin America, attracting top-tier talent for its Full-Time +Flex MBA program. This August, Analilia Silva, Kelley’s LatAm Recruiting and Partner Engagement Advisor, led an extensive recruitment campaign through the MBA Tour Latin America, traveling to some of the region’s most vibrant cities:

  • São Paulo, Brazil
  • Santiago, Chile
  • Lima, Peru
  • Bogotá, Colombia
  • Mexico City, Mexico
  • Monterrey, Mexico
Kelley team member in front of table

Analilia Silva, MBA ‘04 prepares to meet MBA candidates at MBA Tour Latin America recruiting event.

During the events, Analilia met with prospective students eager to join the Kelley MBA program for the Fall 2025 and Fall 2026 cohorts. These face-to-face interactions provided candidates with personalized insights into the program’s offerings, culture, and career development opportunities.

A special highlight of the recruitment tour was the participation of Kelley MBA alumni in each city. Alumni shared their experiences, highlighting how the Kelley MBA program shaped their careers and personal growth. These testimonials underscored the program’s reputation and impact, resonating deeply with prospective students.

Students and alumni: Pivotal partners

The Latin MBA Association and Kelley’s Latin American MBA alumni network have been instrumental in not only attracting talent but also supporting prospective students through the admissions process. Their efforts create a sense of belonging and community even before students set foot on campus.

In November, Kelley hosted its MBA Preview Weekend, welcoming five students from Colombia and Guatemala. This immersive experience allowed them to interact with faculty, current students, and alumni, giving them a taste of Kelley’s collaborative environment.

Strong enrollment numbers

Kelley’s Full-Time MBA program has consistently demonstrated success in attracting and retaining Latin American students, maintaining a yield rate above 50%. With an average annual enrollment of 10–12 students from the region, the program has become a sought-after destination for Latin American professionals seeking to elevate their careers.

Looking ahead, the school anticipates enrolling at least 10 students from Latin America for the upcoming academic year, continuing its tradition of nurturing diverse, globally minded leaders.

Building bridges, shaping futures

Kelley’s commitment to Latin America goes beyond recruitment; it’s about fostering relationships that last a lifetime. By leveraging strong alumni networks and engaging with prospective students on a personal level, the Kelley School of Business continues to strengthen its presence in the region while empowering the next generation of global business leaders.

Posing with large doll

Kelley team members, Fred Perry, Tia Trueblood, and Analilia Silva pose with representatives of the International Affairs Office at TEC Queretaro and the state’s traditional doll.

Explore IU

In October, the Kelley School proudly participated in the Explore IU event, organized by the IU Mexico Gateway. This vibrant initiative brought Kelley’s leadership and expertise to the forefront of fostering global connections, education, and alumni engagement in Latin America.

The central hub of the Explore IU event was Mexico City, where a distinguished Kelley delegation took part in a variety of impactful activities. The delegation included:

  • Josh Perry, Executive Associate Dean for Academic Programs and Graf Family Professor, Kelley School of Business
  • Fred Perry, Executive Director, Kelley Global, Kelley School of Business
  • Tia Trueblood, Senior Director International Programs, Kelley School of Business
  • Analilia Silva, LatAm Recruiting and Partner Engagement Advisor, Kelley School of Business

During their time in Mexico, the delegation engaged with key academic and professional communities. Notable highlights included visits to Tecnológico de Monterrey at the Querétaro campus and meetings with COMEXUS (Fulbright Mexico). These events fostered collaboration, knowledge exchange, and exploration of new opportunities for partnerships.

The Kelley team also hosted intimate gatherings with IU alumni, strengthening connections with former students and showcasing Kelley’s enduring commitment to its global alumni network.

Expanding horizons in Colombia

This year, the IU Mexico Gateway piloted in-person activities in Bogotá, Colombia, a step toward broadening IU’s footprint in Latin America. Representing Kelley, Analilia Silva led a dynamic agenda of engagements across the city.

Three individuals standing together

Kelley’s Analilia Silva poses with James Quill, IU’s Director of International Admissions Recruitment, and a professor from Nueva Granada High School in Bogotá.

Her activities included:

Strengthening Kelley’s global vision

Participation in events like Explore IU underscores the Kelley School of Business’s dedication to expanding its global reach and fostering international partnerships. Through meaningful connections with educational institutions, alumni, and professional organizations, Kelley continues to pave the way for impactful collaborations across borders.

As the school deepens its presence in Latin America, these engagements reflect Kelley’s commitment to empowering students, alumni, and communities worldwide.

Nearly 50 Years later, Kelley alumna returns to campus to recall old memories, receive award

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Khunying Natthika Wattanavekin Angubolkul, MBA’77, Chairwoman and CEO of Eastern Sugar Group and President of the Federation of Business and Professional Women of Thailand took the 35-hour journey from Bangkok, Thailand, to Bloomington to be inducted into the Kelley Academy of Alumni Fellows on November 2. The academy recognizes alumni who have earned the stature of exceptional leaders by their demonstrated successes in organizations and their contributions to management philosophies and practices. 

Photo of Khunying Natthika Wattanavekin Angubolkul, MBA’77

Khunying Natthika Wattanavekin Angubolkul, MBA’77 on campus for the first time since graduating.

Khunying Natthika believes to live in a good society, you must contribute to building it. With that guiding philosophy and a tireless dedication to constant improvement, she has spent much of her life championing and empowering women and children. 

Watch her Kelley video here 

One of 18 children, Khunying Natthika is Chairwoman and CEO of her family’s sugar business, Eastern Sugar Group, which, in addition to producing sugar, generates electricity through a zero-waste biomass power plant that operates under the Eastern Sugar and Cane Public Company Ltd. Her family’s business interests extend to operating the Tim Hortons coffeehouse franchise in Thailand, the Grand Hyatt Erawan and JW Marriott hotels in Bangkok, and over 150 hotels across Japan, the Philippines, and Thailand. 

Khunying Natthika earned her MBA from the Kelley School, where she serves on the Global Dean’s Council. 

She emerged as one of Thailand’s leading female entrepreneurs during a pivotal time when women were beginning to step into prominent roles in business and social initiatives. Her commitment to excellence quickly propelled her to success. At 29, she was awarded her first of five royal decorations given for service to the country, people, and society. At the young age of 46, she was bestowed the royal title of Khunying, similar to the title of Lady or Dame in the western world. She has also received three honorary degrees and numerous awards through the years in business, the sugar sector, the energy sector, and in the community. 

Khunying Natthika is the President of the Business and Professional Women of Thailand (under the royal patronage of Her Majesty the Queen). She is also the Founder of the Young Thai Entrepreneurs Association, and Chairwoman of the Kiat Ruammitr Foundation, as well as an Advisor to the Thai Chamber of Commerce, and the former President and Honorary Chairwoman of the Thai Sugar and Bio-Energy Producers Association. She is past President to the National Council of Women of Thailand (under the Royal Patronage of Her Majesty the Queen) and former chairman of the ASEAN Women Entrepreneurs Network. 

Her visit back to campus after nearly 50 years was a picturesque timing as the autumn foliage was at its peak and there was an excitement around IU Football’s historic season.  Her two-day visit to the U.S. also included a Men’s Basketball game, where she saw IU beat Marian 106-64.  As she walked down to the stadium floor into the halls, she exclaimed, “I think this is where I saw Elvis Presley perform.” 

 

Business is Global—A Decade of Impact

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Painted bridge

Painting the bridge on North Eagleson is always a program highlight

In today’s rapidly changing global landscape, the need for culturally aware and globally competent students has never been more pressing. Since its inception in 2013, Business is Global (BIG) has provided a unique platform for high school students to explore the dynamic intersection of business, language, and culture.

Over the past decade, this two-week summer program has evolved from a small cohort of students into a highly sought-after experience providing high school students with the opportunity to immerse themselves in international business concepts, language acquisition, and cross-cultural understanding. Designed by the IU Center for International Business Education and Research (CIBER), BIG aims to develop the skills students need to succeed in the interconnected world of global business.

The 2024 edition of BIG was a testament to the program’s ongoing success. With a cohort of 49 students from 11 states, including a targeted focus on rural Indiana, the program exposed participants to a diverse array of global perspectives. Throughout the two weeks, students engaged in hands-on projects, where they created business strategies for international markets, focusing on cities such as Seoul, Cape Town, and Rio de Janeiro. The experience culminated in team presentations, where students demonstrated their ability to integrate language skills, cultural understanding, and business knowledge.

BIG is about more than just business—it is about building global citizens. The program emphasizes the importance of cultural awareness, helping students develop a mindset open to diverse perspectives and introduces participants to less commonly taught languages (LCTLs) while immersing them in the cultures of the countries where those languages are spoken. Languages offered in 2024 included Korean, Russian, Arabic, Brazilian Portuguese, and Zulu. Students gain the technical knowledge of business and the interpersonal skills that will help them succeed in any global context.

What sets BIG apart from other programs is its emphasis on real-world application. Students are not just passive learners—they are active participants in a global economy simulation. The feedback from students reflects this. A 2024 participant shared:

“Having knowledge of the international business world isn’t the only important thing in order to succeed. You need to know how to network and genuinely build a relationship with whoever you’re given, no matter either background. If you don’t have this skill, all of your “book-knowledge” of business won’t carry you to the max amount of success you could possibly have.”

Team Rio posing

Team Rio posing for the camera

With 449 students having participated in BIG since 2013, the program has built a lasting legacy of cultivating globally minded young professionals. Many alumni have gone on to pursue international careers or further their studies in business and foreign languages. As BIG looks ahead, the focus remains on creating inclusive, impactful experiences that prepare students to thrive in an increasingly interconnected world.

International study experiences support Kelley’s global focus

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Erica Kovacs and students pose in front of building at Breda University of Applied Sciences

Erica Kovacs’ Global Business Immersion class joins students from Breda University of Applied Sciences in The Netherlands.

Study abroad and international experiences continued to generate significant interest among Kelley students at all levels during the 2023-2024 academic year.

Undergraduate students can choose from 68 programs in 26 countries on six continents. This year, 1,180 Kelley undergraduates studied abroad in 40 programs in 19 countries. Spain was the most popular destination with six programs welcoming 526 students. Italy was second with three programs welcoming 275 students. Kelley undergraduates could be found in 12 European countries this year. Destinations outside Europe included Argentina, Australia, China, Japan, Singapore, South Korea, and Thailand.  

Chart detailing Kelley study abroad programs by region

Additionally, 371 undergraduate students were enrolled in 14 Global Business Immersion short-term programs. These courses are part of the undergraduate Global Foundations Core and are eight-week courses providing an opportunity to dig into a country analysis from a business perspective. Enrollment is by application through the Undergraduate Study Abroad Office and is competitive. The courses capitalize on the wide-ranging expertise of Kelley faculty from all academic departments. 

After the classroom sessions, students travel as a group to the country or region emphasized in the course for a seven-to-nine-day study tour. The travel component for the first eight-week courses occurs during spring break and in May for the second eight-week offerings. While in-country, students participate in relevant business and cultural site visits. This year, courses were led by the following faculty members: 

Chris Cook (Romania) Jeffery McMullen (Mexico) Jeanette Heidewald (Germany)
Angie Perry (Thailand) Tatiana Kolovou (Greece) Jim Davis (Australia)
Erica Kovacs (Netherlands) Richard Shockley (Hungary) Gerry Hays (Singapore)
Ellie Mafi-Kreft (France) Markus Vodosek (Poland) Alex Lopes (S. Korea)
Keith Dayton (Cuba) Kelly Eskew (South Africa)

On the graduate side, 23 Full-Time MBA students studied in eight locations during the spring semester. Like their undergraduate colleagues, Spain was a popular destination with five students. However, the location with the most students was Germany, with 12. The remaining students studied in Japan, Singapore, Finland, United Kingdom, Argentina, and New Zealand. In addition, Kelley Direct, MSIS, Graduate Accounting, and Full-Time MBA students participated in experiential learning opportunities around the globe.  

Learn more about Kelley Undergraduate Study Abroad. Consider supporting Kelley Undergraduate Study Abroad Scholarships.

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