Rutgers-Newark and The PhD Project – a nationally recognized non-profit organization aimed at diversifying the business world by diversifying professors leading business school classrooms–explored creating change in corporate America at an event celebrating The PhD Project’s 30th anniversary.
Hosted by Rutgers-Newark Interim Chancellor Jeffrey Robinson, a PhD Project member and 2024 Hall-of-Fame inductee, the event, held at Rutgers-Newark, featured business leaders and researchers discussing how industry and academia can collaborate to drive success and innovation through inclusivity.
Since its founding in 1994, The PhD Project has helped its more than 1,400 members earn a business PhD in accounting, finance and economics, information systems and sciences, management, and marketing. Its members – including 10 university presidents and 89 deans – are represented at 670 campuses across the country. More than 25 corporate partners and 300+ university partners support The PhD Project’s mission. The Project was founded by AACSB, GMAC and the KPMG Foundation.
At the event, PhD Project President Blane Ruschak presented Anita Whitehead, KPMG U.S. Foundation President & Chair, with an award for KPMG’s vision in founding The PhD Project and their long-standing support.
“The KPMG U.S. Foundation is focused on increasing equity and access to opportunities for all, which is why the PhD Project’s mission resonates with us so deeply,” said Whitehead. “By increasing access to education and fostering the next generation of talent from all walks of life, we are creating a more diverse workforce and inclusive environment.”
Ruschak described the impact to the program beyond the success of Project graduates themselves. Emerging, soon-to-be released research from PhD Project members shows a direct correlation between the presence of faculty of color and increased enrollment and graduation rates among students of color.
“We call this “The Role Model Effect”. It has an influence on students completing their degrees and becoming members of the workforce,” said Ruschak. “The only factor that had more relevance was the demographics of the state. Think how powerful that is. What we’re doing makes a difference.”
Robinson praised The Project for its success and potential to accomplish more in the years ahead.
“I am looking forward to its future. The question of who is going to stand up and support diversity and make sure that the workforce of tomorrow has representation in the classroom is especially important right now,” said Robinson, who earned a doctorate in Management and Organizations from Columbia University’s Graduate School of Business.
During the event, he shared the results of his research highlighted in books he co-authored with Randal Pinkett, business consultant and season four winner of the television reality show, The Apprentice. Their second book together, Black Faces in High Places, explores the importance of diversifying the ranks of corporate C-suites to strengthen the US economy for everyone.
Panelists at the event focused on research impact, bridging academia and the workforce, and building a corporate pipeline for diverse leaders.
