1 00:00:00,520 --> 00:00:04,080 Speaker 1: You're listening to Bloomberg Business Week with Carol Masser and 2 00:00:04,200 --> 00:00:08,880 Speaker 1: Jason Kelly on Bloomberg Radio. All right, so the past 3 00:00:08,920 --> 00:00:12,440 Speaker 1: two Novembers scarlet food. You may have noticed Carol and 4 00:00:12,520 --> 00:00:17,079 Speaker 1: I pop up out. I have noticed you have noticed 5 00:00:17,280 --> 00:00:19,720 Speaker 1: we're out at the Stanford Graduate School Business because for 6 00:00:19,760 --> 00:00:23,160 Speaker 1: the past two years running, Stanford's Graduate School Business has 7 00:00:23,200 --> 00:00:26,480 Speaker 1: been the number one business school according to Bloomberg Business 8 00:00:26,520 --> 00:00:29,520 Speaker 1: Week Quick Flex. Jonathan Levin has been nice enough to 9 00:00:29,600 --> 00:00:33,520 Speaker 1: host us there. He is the dean alongside Sarah Soul 10 00:00:33,720 --> 00:00:37,879 Speaker 1: associate Dean. They're really good to have you guys with us. 11 00:00:42,080 --> 00:00:46,040 Speaker 1: Next same here. So Dean Levin, I want to start 12 00:00:46,120 --> 00:00:50,360 Speaker 1: with you. Tell us what it's like out there right now, uh, 13 00:00:50,400 --> 00:00:52,600 Speaker 1: you know, obviously, and we'll talk a lot about some 14 00:00:52,640 --> 00:00:54,600 Speaker 1: of the work that you've been doing amid these dual 15 00:00:54,640 --> 00:00:57,400 Speaker 1: crises that the nation is facing. But just you know, 16 00:00:57,480 --> 00:00:59,400 Speaker 1: give us a sense of what life is like. They're 17 00:00:59,440 --> 00:01:04,400 Speaker 1: in palat them. Well, the weather is beautiful, and it 18 00:01:04,400 --> 00:01:08,000 Speaker 1: would be a terrific summer if we weren't all walking 19 00:01:08,040 --> 00:01:12,360 Speaker 1: around wearing masks and worried about social distancing. In a 20 00:01:12,480 --> 00:01:16,240 Speaker 1: normal year, in the summer, we have thousands of business 21 00:01:16,240 --> 00:01:21,000 Speaker 1: executives and other folks coming to campus for executive programs 22 00:01:21,000 --> 00:01:23,280 Speaker 1: and all types of different summer programs that we run. 23 00:01:23,360 --> 00:01:27,200 Speaker 1: Of course, all of that has been shut down this summer, 24 00:01:27,240 --> 00:01:31,240 Speaker 1: and so we're running the whole range of virtual programs 25 00:01:31,319 --> 00:01:36,360 Speaker 1: we have working with businesses and were running a big 26 00:01:36,480 --> 00:01:41,320 Speaker 1: virtual entrepreneurship program that we just put together over the 27 00:01:41,400 --> 00:01:45,200 Speaker 1: course of the last two months, the Stanford Rebuild program UM. 28 00:01:45,240 --> 00:01:48,480 Speaker 1: But it's a very unusual time. There's nothing. You know, 29 00:01:48,520 --> 00:01:51,760 Speaker 1: a university campus is meant to be a place with 30 00:01:51,920 --> 00:01:55,800 Speaker 1: interaction and students and faculty and staff and everyone just 31 00:01:55,800 --> 00:01:59,760 Speaker 1: bumping into each other, and right now it feels lonely 32 00:01:59,760 --> 00:02:03,320 Speaker 1: and on your Stanford campus. Yeah, that interaction is key, 33 00:02:03,400 --> 00:02:06,800 Speaker 1: and it's what contributes to the success of institutions like 34 00:02:06,880 --> 00:02:11,079 Speaker 1: Stanford Graduate School of Business UH associating SOUL. I want 35 00:02:11,120 --> 00:02:13,959 Speaker 1: to bring you into this conversation here because obviously, as 36 00:02:14,000 --> 00:02:17,520 Speaker 1: with other universities UH, Stanford is trying to of course 37 00:02:17,560 --> 00:02:21,800 Speaker 1: increase its diversity, equity and inclusion efforts, really increasing the 38 00:02:21,800 --> 00:02:27,400 Speaker 1: representation of black and other disenfranchised people, not just among 39 00:02:27,520 --> 00:02:31,080 Speaker 1: students but also in your faculty as well. Talk a 40 00:02:31,080 --> 00:02:35,280 Speaker 1: little bit about the plan to increase racial equity. How 41 00:02:35,320 --> 00:02:37,639 Speaker 1: do you go about that in this kind of environment 42 00:02:37,680 --> 00:02:40,399 Speaker 1: when people cannot get together and the interaction is so 43 00:02:41,000 --> 00:02:46,160 Speaker 1: artificial and stilted. Yes, thank you with Scarlett, it's really 44 00:02:46,200 --> 00:02:48,960 Speaker 1: nice to meet you. Nice to meet another Cornell alum. 45 00:02:49,200 --> 00:02:53,480 Speaker 1: Oh yeah, big, yes. Yes. Let me step back a 46 00:02:53,560 --> 00:02:56,160 Speaker 1: little bit and say a word or two about what 47 00:02:56,320 --> 00:02:59,079 Speaker 1: it is we've been working on here at the Stanford 48 00:02:59,120 --> 00:03:03,200 Speaker 1: Graduate School of the no In ten, we re released 49 00:03:03,200 --> 00:03:07,400 Speaker 1: our first Diversity, Equity and Inclusion Report, and one of 50 00:03:07,480 --> 00:03:11,000 Speaker 1: the goals that we issued in that report for the 51 00:03:11,240 --> 00:03:17,440 Speaker 1: academic year of was to spend some time studying and 52 00:03:17,600 --> 00:03:20,720 Speaker 1: thinking about how we could do better as a school 53 00:03:20,919 --> 00:03:26,519 Speaker 1: as an institution to learn from and um increase representation 54 00:03:26,720 --> 00:03:29,400 Speaker 1: and increase a sense of an inclusion and belonging for 55 00:03:29,560 --> 00:03:34,480 Speaker 1: groups that otherwise before had been underrepresented in our efforts 56 00:03:34,560 --> 00:03:37,760 Speaker 1: to date. So what we've been working on really started 57 00:03:37,880 --> 00:03:42,480 Speaker 1: last year, and what we're announcing today is what we're 58 00:03:42,520 --> 00:03:45,640 Speaker 1: calling the Racial Equity Action Plan for the school. And 59 00:03:45,720 --> 00:03:48,400 Speaker 1: as you noticed, Scarlett, one of the things that we 60 00:03:48,600 --> 00:03:53,360 Speaker 1: are working on is representation in particular, and so what 61 00:03:53,480 --> 00:03:56,840 Speaker 1: we are thinking about in in this particular bucket, and 62 00:03:56,880 --> 00:04:00,800 Speaker 1: what we're announcing our commitment for is thinking how we 63 00:04:00,960 --> 00:04:05,240 Speaker 1: can do better about bringing black and other underrepresented minority 64 00:04:05,360 --> 00:04:09,560 Speaker 1: teaching faculty, staff and students to campus. And you know, 65 00:04:09,640 --> 00:04:12,520 Speaker 1: as I noted, this commitment really does build on the 66 00:04:12,640 --> 00:04:15,720 Speaker 1: momentum that we have had over the last couple of 67 00:04:15,800 --> 00:04:20,000 Speaker 1: years around our broader diversity, equity and inclusion efforts. But 68 00:04:20,120 --> 00:04:24,040 Speaker 1: in particular when we think about uh hiring of black 69 00:04:24,320 --> 00:04:28,040 Speaker 1: and you r M teaching faculties, what we're thinking about 70 00:04:28,120 --> 00:04:32,600 Speaker 1: doing in particular is taking advantage of an incredible UM 71 00:04:32,839 --> 00:04:36,440 Speaker 1: initiative on the part of the university that Stanford University 72 00:04:36,880 --> 00:04:41,680 Speaker 1: to UM to to bring ten new faculty members and 73 00:04:41,760 --> 00:04:44,560 Speaker 1: ten year line faculty members to campus UM on a 74 00:04:44,640 --> 00:04:47,760 Speaker 1: search that is really centered around the impacts of race 75 00:04:47,880 --> 00:04:50,480 Speaker 1: in America. So that's one piece of what it is 76 00:04:50,520 --> 00:04:53,880 Speaker 1: that we're working on collaborating with the university to take 77 00:04:53,920 --> 00:04:58,000 Speaker 1: advantage of these new ten billets for ten year line 78 00:04:58,040 --> 00:05:01,640 Speaker 1: faculty members. And then on the on the sort of 79 00:05:01,839 --> 00:05:05,800 Speaker 1: lecturer side, we also have a number of UM practitioners 80 00:05:05,839 --> 00:05:10,160 Speaker 1: who lecture in our classes. We're working actively with our 81 00:05:10,200 --> 00:05:14,799 Speaker 1: alums and also with our our faculty to identify more 82 00:05:15,400 --> 00:05:19,839 Speaker 1: black and underrepresented minority teaching faculty as well as guest 83 00:05:19,839 --> 00:05:22,280 Speaker 1: speakers too, so we can make sure that we are 84 00:05:22,400 --> 00:05:25,159 Speaker 1: having voices heard in the classroom and that we're able 85 00:05:25,240 --> 00:05:29,719 Speaker 1: to teach issues related to race in business and race 86 00:05:29,880 --> 00:05:33,400 Speaker 1: in America. Yeah, and I find that so interesting, you know, 87 00:05:33,640 --> 00:05:38,960 Speaker 1: and Jonathan, the the integration into the curriculum as it were, 88 00:05:39,160 --> 00:05:41,400 Speaker 1: I find really interesting here. And you've even got some 89 00:05:41,480 --> 00:05:45,200 Speaker 1: new courses that you're going to be offering. Tell us 90 00:05:45,240 --> 00:05:52,120 Speaker 1: about that. I think one of the topics that we've 91 00:05:52,720 --> 00:05:56,279 Speaker 1: spent a lot of time thinking about in in our 92 00:05:56,960 --> 00:06:01,440 Speaker 1: curriculum over the last few years has been generally preparing 93 00:06:02,040 --> 00:06:06,440 Speaker 1: students to go out and be effective managers and leaders 94 00:06:06,720 --> 00:06:12,480 Speaker 1: in uh in diverse organizations, and to help build organizational 95 00:06:12,600 --> 00:06:15,320 Speaker 1: cultures and be the effective in leading in the world 96 00:06:15,400 --> 00:06:18,240 Speaker 1: where the country has become more diverse and and the 97 00:06:19,200 --> 00:06:24,240 Speaker 1: need for businesses to create widespread opportunity in many different 98 00:06:24,279 --> 00:06:28,440 Speaker 1: ways has become increasingly important and is on everyone's minds. 99 00:06:29,200 --> 00:06:32,560 Speaker 1: And so that's that's been something that Sarah just mentioned. 100 00:06:32,600 --> 00:06:36,279 Speaker 1: We've thought about in what sort of cases our faculty 101 00:06:36,360 --> 00:06:38,599 Speaker 1: or writing in terms of the guest speakers, they're bringing 102 00:06:38,640 --> 00:06:41,800 Speaker 1: and so forth. And and interestingly, when the when the 103 00:06:42,040 --> 00:06:44,839 Speaker 1: pandemic arrived and we had to move very quickly into 104 00:06:45,279 --> 00:06:48,400 Speaker 1: virtual teaching in the spring UM, we had the opportunity 105 00:06:48,400 --> 00:06:51,279 Speaker 1: to create some new classes. We created a Civic Workshop 106 00:06:51,400 --> 00:06:56,320 Speaker 1: class where the students developed ideas to to around the pandemic. 107 00:06:56,360 --> 00:06:59,560 Speaker 1: We created a new Business and Society class, which is 108 00:06:59,640 --> 00:07:01,880 Speaker 1: a lack sure series virtual lestages. We bring people in 109 00:07:01,920 --> 00:07:04,920 Speaker 1: from around the world to speak to the students. Wonderful 110 00:07:04,960 --> 00:07:07,600 Speaker 1: thing about virtual learning is you can you can bring 111 00:07:07,680 --> 00:07:12,360 Speaker 1: in guests regardless of graphic boundaries. Phenomenal And Sarah, I 112 00:07:12,400 --> 00:07:14,720 Speaker 1: want to pick up the conversation with you because I 113 00:07:14,840 --> 00:07:17,640 Speaker 1: was reminded as I was getting ready for this, I mean, 114 00:07:17,920 --> 00:07:21,920 Speaker 1: this is really part of your all of your jobs 115 00:07:21,960 --> 00:07:25,160 Speaker 1: in many ways, is understanding all of this when it 116 00:07:25,240 --> 00:07:27,280 Speaker 1: comes to social movements. And I remember talking to you 117 00:07:27,320 --> 00:07:30,280 Speaker 1: about this in a totally different context when we visited 118 00:07:30,720 --> 00:07:33,080 Speaker 1: last November. Then we were talking about sort of the 119 00:07:33,160 --> 00:07:35,840 Speaker 1: social movements around the use of technology. Now we're talking 120 00:07:35,880 --> 00:07:40,000 Speaker 1: about something very different in many ways and yet adjacent 121 00:07:40,120 --> 00:07:43,560 Speaker 1: to that. I do wonder when you look at Silicon 122 00:07:43,680 --> 00:07:47,400 Speaker 1: Valley and certainly Stanford and the business school's prominent place there. 123 00:07:48,040 --> 00:07:51,360 Speaker 1: What do you make of Silicon Valley's broader role in 124 00:07:51,480 --> 00:07:55,600 Speaker 1: these discussions around equality, because, as you know, probably better 125 00:07:55,640 --> 00:07:58,720 Speaker 1: than I, the reviews haven't been awesome when it comes 126 00:07:58,760 --> 00:08:04,840 Speaker 1: to diversity across the tech industry. That's a really wonderful question, Jason. 127 00:08:05,160 --> 00:08:07,440 Speaker 1: And one of the goals that we have at the 128 00:08:07,640 --> 00:08:11,640 Speaker 1: Graduate School of Business is to impact and make positive 129 00:08:11,760 --> 00:08:15,400 Speaker 1: change beyond the g SB and that includes most approximately 130 00:08:15,960 --> 00:08:18,480 Speaker 1: the Silicon Valley, and we aim to do this in 131 00:08:18,560 --> 00:08:20,600 Speaker 1: a number of different ways. One of the things that 132 00:08:21,080 --> 00:08:24,640 Speaker 1: we are working on actively is the g SB Racial 133 00:08:24,720 --> 00:08:27,240 Speaker 1: Equity Initiative, which is going to be in partnership with 134 00:08:27,280 --> 00:08:31,640 Speaker 1: our alumni, many of whom are here in Silicon Valley, 135 00:08:32,040 --> 00:08:35,680 Speaker 1: and the goal of this is to increase representation, strength, 136 00:08:35,720 --> 00:08:40,520 Speaker 1: and leadership and foster economic conclusion beyond the campus and again, 137 00:08:40,640 --> 00:08:43,240 Speaker 1: as I said, most approximately here in the Silicon Valley. 138 00:08:43,600 --> 00:08:45,160 Speaker 1: So that's one of the ways that we hope to 139 00:08:46,120 --> 00:08:49,559 Speaker 1: help to help the companies here in Silicon Valley. The 140 00:08:49,640 --> 00:08:53,840 Speaker 1: other thing that we're doing actively right now is collaborating 141 00:08:54,040 --> 00:08:58,599 Speaker 1: with the Stanford VM where Women's Leadership Lab on a 142 00:08:58,720 --> 00:09:02,200 Speaker 1: number of different tool kits and trainings that we're developing 143 00:09:02,280 --> 00:09:05,960 Speaker 1: in conjunction with the lab, but which will become part 144 00:09:06,080 --> 00:09:08,800 Speaker 1: of the training for all of the corporate partners in 145 00:09:08,920 --> 00:09:12,840 Speaker 1: that lab. Now, while the lab is focused on gender 146 00:09:13,000 --> 00:09:18,600 Speaker 1: representation and gender equality, they're more broadly focused on diversity, 147 00:09:18,640 --> 00:09:22,920 Speaker 1: equity and inclusion. And like most organizations right now are 148 00:09:23,040 --> 00:09:27,760 Speaker 1: focusing on racial justice and racial equity. And so those 149 00:09:27,800 --> 00:09:29,400 Speaker 1: are just some of the ways that we hope we 150 00:09:29,480 --> 00:09:33,240 Speaker 1: can impact our local area, but our global area of 151 00:09:33,360 --> 00:09:36,439 Speaker 1: the global arena as well. I want to pose my 152 00:09:36,559 --> 00:09:40,199 Speaker 1: question to Dean Levin. I mean, obviously, increasing diversity is 153 00:09:40,640 --> 00:09:44,880 Speaker 1: a huge priority for for universities, for companies. I wonder, though, 154 00:09:44,960 --> 00:09:48,679 Speaker 1: are you expanding your class size to bring to be 155 00:09:48,760 --> 00:09:52,520 Speaker 1: able to bring more underrepresented minorities on campus or are 156 00:09:52,600 --> 00:09:56,120 Speaker 1: you are you still looking at the same class sizes. 157 00:09:56,320 --> 00:09:59,720 Speaker 1: And this matters because otherwise it becomes a zero sum situation. 158 00:10:00,000 --> 00:10:03,200 Speaker 1: Are more spaces open up for a certain group of people, 159 00:10:03,280 --> 00:10:05,880 Speaker 1: but that means others that might not might have been 160 00:10:05,920 --> 00:10:07,800 Speaker 1: able to get in are no longer able to get in. 161 00:10:10,400 --> 00:10:14,959 Speaker 1: So wonderful question in terms of thinking about the some 162 00:10:15,120 --> 00:10:17,280 Speaker 1: of the trade us that can arise in thinking about 163 00:10:17,520 --> 00:10:23,640 Speaker 1: class composition at the Stanford gsb our class size has 164 00:10:24,240 --> 00:10:31,319 Speaker 1: increased gradually over time, at a at a at a 165 00:10:31,400 --> 00:10:35,199 Speaker 1: continuous rate, and so we have been able to have 166 00:10:35,840 --> 00:10:39,199 Speaker 1: more students being our NBA classes and our one year 167 00:10:39,280 --> 00:10:42,800 Speaker 1: master's and sex program over time, and that has helped 168 00:10:42,880 --> 00:10:46,160 Speaker 1: to broaden the set of people who have who have access. 169 00:10:46,440 --> 00:10:50,199 Speaker 1: And there are opportunities through some of the programs that 170 00:10:50,320 --> 00:10:53,320 Speaker 1: we also run that are non degree programs. For example, 171 00:10:53,400 --> 00:10:57,600 Speaker 1: we run an online program, the Lead Program, which now 172 00:10:57,720 --> 00:11:01,800 Speaker 1: has hundreds of participants every year, to to reach more people. 173 00:11:01,920 --> 00:11:05,160 Speaker 1: And and that's a way by providing broader access to 174 00:11:05,400 --> 00:11:07,680 Speaker 1: the Business School that we're able to reach more people 175 00:11:07,720 --> 00:11:11,000 Speaker 1: and all different types of people, and and that that 176 00:11:11,120 --> 00:11:14,520 Speaker 1: really helps when your goal is to to create more 177 00:11:14,600 --> 00:11:17,839 Speaker 1: access for different groups. All right, before we let you 178 00:11:17,880 --> 00:11:20,920 Speaker 1: guys go on, only got a couple of minutes left, uh, 179 00:11:21,320 --> 00:11:24,320 Speaker 1: Dean Levin, where are we when it comes to getting 180 00:11:24,360 --> 00:11:27,520 Speaker 1: folks back to campus this fall? Given the backdrop that 181 00:11:27,640 --> 00:11:30,800 Speaker 1: you're seeing in California, but also taking into account you are, 182 00:11:31,280 --> 00:11:34,959 Speaker 1: by all means a very international school with a global 183 00:11:35,040 --> 00:11:40,240 Speaker 1: footprint and a global population. It's a great question everyone 184 00:11:40,480 --> 00:11:43,760 Speaker 1: once to know the answer. We're all trying to figure 185 00:11:43,760 --> 00:11:46,880 Speaker 1: it out. We're in a mode right now where we're 186 00:11:47,280 --> 00:11:50,200 Speaker 1: we're planning for contingencies. So we have had a plan 187 00:11:50,360 --> 00:11:53,120 Speaker 1: to bring our students back to campus to have a 188 00:11:53,280 --> 00:11:56,320 Speaker 1: hybrid learning environment where there's a mix of in person 189 00:11:56,480 --> 00:12:00,439 Speaker 1: and virtual learning. We are like everyone up when you're 190 00:12:00,440 --> 00:12:03,679 Speaker 1: waiting for the state to provide guidance around what will 191 00:12:03,720 --> 00:12:07,079 Speaker 1: be possible and allowed and our county, San Clair County 192 00:12:07,160 --> 00:12:09,440 Speaker 1: to do the same, and we'll have to operate within 193 00:12:09,520 --> 00:12:12,520 Speaker 1: the bounds of those regulations. So we're also preparing for 194 00:12:12,600 --> 00:12:15,839 Speaker 1: an eventuality where we would be doing virtual learning as 195 00:12:16,200 --> 00:12:20,760 Speaker 1: a backup plan. And I think you know, our focus 196 00:12:21,160 --> 00:12:24,559 Speaker 1: is that whatever rules were given by the state and 197 00:12:24,600 --> 00:12:27,959 Speaker 1: the county, the public health rules, we will we will 198 00:12:28,000 --> 00:12:32,679 Speaker 1: do everything we can to create a wonderful, immersive, interactive 199 00:12:32,760 --> 00:12:36,160 Speaker 1: environment for our students. And I think our students are 200 00:12:36,840 --> 00:12:39,480 Speaker 1: committed to that, or faculty are committed to that. We're 201 00:12:39,480 --> 00:12:42,040 Speaker 1: gonna no matter how we end up this spool, we're 202 00:12:42,040 --> 00:12:44,120 Speaker 1: going to end up doing a lot of innovation because 203 00:12:44,160 --> 00:12:47,600 Speaker 1: it's going to be uncharted territory and we're gonna we're 204 00:12:47,640 --> 00:12:50,800 Speaker 1: gonna rely on the innovation of our community and the 205 00:12:50,840 --> 00:12:52,839 Speaker 1: good will of our community to get through it, and 206 00:12:52,960 --> 00:12:55,920 Speaker 1: I'm confident we'll have a great quarter no matter how 207 00:12:56,000 --> 00:12:58,679 Speaker 1: it how it plays out all right, well, we look 208 00:12:58,720 --> 00:13:01,439 Speaker 1: forward to visiting with you in per since someday, some 209 00:13:01,600 --> 00:13:04,240 Speaker 1: way or another. Jonathan Levin is the dean of the 210 00:13:04,280 --> 00:13:08,600 Speaker 1: Stanford Graduate School of Business. Business along with Sarah soul 211 00:13:08,720 --> 00:13:13,520 Speaker 1: she is Associate Dean Professor of sociology organizational management as 212 00:13:13,640 --> 00:13:17,520 Speaker 1: well organizational behavior. Excuse me, uh, really good to catch 213 00:13:17,600 --> 00:13:18,160 Speaker 1: up with them.