Babson Recreation and Athletics Complex Now Open »

From its Olympic lifting platforms outfitted with the Babson athletics logo to its array of cardio equipment and multipurpose courts, the newly completed Babson Recreation and Athletics Complex (BRAC) will help prompt community building, serving as a destination for students to pursue health and wellness initiatives, and as a programming space for a myriad of events.

TORq Interface Wins Big »

After three impressive pitches at Babson’s biggest business competition yet, Joanna Geisinger MBA’17 and her team at TORq Interface went home with $100,000 and the winning title.

Babson Inducts Three New Members into Academy of Distinguished Entrepreneurs »

This month, three esteemed entrepreneurs joined the Academy: Eric G. Johnson ’72, P’08, Baldwin Richardson Foods president and CEO, and Steve Conine and Niraj Shah, co-founders of Wayfair.

Babson to Establish a New Center Focused on Global Healthcare Entrepreneurship »

Babson is establishing the new Kerry Murphy Healey Center for Global Healthcare Entrepreneurship, thanks to $10 million in lifetime giving from Babson Board of Trustees member Carmella Kletjian.

As the world and workplace rapidly evolve, the need for education and ongoing learning will continue to increase in tandem. The essential and growing need for knowledge is a bright spot for colleges and universities during a period of disruption in higher education. It also presents a unique opportunity for Babson to capitalize on our strengths and extend our leadership in entrepreneurship education. The future of work requires that we dynamically solve problems and forge opportunities to create social and economic value.

Babson, across all phases of the learning continuum, educates entrepreneurial leaders who are nimble, opportunity-driven, innovative, and growth-oriented. They are collaborative problem-solvers who possess qualities and skills that make them particularly valuable in a fast-paced and constantly changing marketplace.

Babson recently announced a groundbreaking collaboration with The Arthur M. Blank Family Foundation to advance and amplify values-driven entrepreneurial leadership on a global scale. Through a $50 million gift, the largest ever awarded by the Blank Family Foundation and the largest single gift in the College’s history, Babson will establish the Arthur M. Blank School for Entrepreneurial Leadership. The development of this new school within the College requires all Babson disciplines to lead change, solve problems, and create sustainable value across business and society.

At the start of our second century, this is a major investment in the role of entrepreneurial leadership to improve the human condition. Babson has long been ranked No. 1 in entrepreneurship education, and this gift generates unparalleled energy and momentum for our continued leadership and innovation. Our strategic plan and the vision of Arthur M. Blank ’63, H’98—both of which we will explore in detail in our next issue—solidify Babson’s position at the forefront of the field.

The world is changing. Entrepreneurial leaders are more important than ever. Babson College has an important role to play, and we are envisioning and investing in concrete ways to create ongoing value for our community.

Stephen Spinelli Jr. MBA’92, PhD

Stephen Spinelli Jr. MBA’92, PhD
Photo: Pat Piasecki

Being back at Babson is an exciting homecoming. I have held many Babson titles over the past three decades: student, faculty, alumus, and leader. Now, my career as an entrepreneur and academic comes full circle, and I am honored and energized to add president to that list.

Over the past seven months, I have met thousands of members of the Babson community at hundreds of events and meetings on campus and around the world. Hearing from this smart and passionate community has been inspiring. My goal is to continue to engage with all of you in ways that are meaningful to you, valuable to the College, and impactful for our students.

As I return to Babson, it is clear that while much has changed—including our newly transformed campus—Babson remains dedicated to teaching and learning, and committed to excellence. The trajectory of growth at Babson has been immense, and the culture of entrepreneurship and consistency of mission is motivating and important. Today, the world needs entrepreneurship more than ever.

The pace of change in the world and workplace is accelerating, and every industry, including higher education, is being disrupted. Disruption and change create new opportunities to advance our differentiator—Entrepreneurial Thought & Action®. By engaging the entire Babson community in a collaborative strategic planning process, we will prepare the College to thrive in today’s evolving environment. I ask you to participate in this effort and to share your input and ideas as we plan for Babson’s future (see The Courage to be Bold for more information on strategic planning).

I look forward to connecting with you as we continue to celebrate Babson’s Centennial and envision our next 100 years. The enthusiasm and collaboration of the global Babson community will empower our ongoing innovation and success and build on our legacy and leadership in entrepreneurship education. It is great to be back at Babson.

Stephen Spinelli Jr. MBA’92, PhD

But Spinelli is an entrepreneur, and, as of July 1, he became the new president of Babson, the home of entrepreneurs of all kinds. He looks at all the doubt and upheaval a bit differently from others. He sees not chaos, but possibility. “The level of change in the world is so dramatic,” he says. “From an entrepreneur’s perspective, this is our time.”

A long-time member of the Babson community, who first stepped foot on campus in the 1980s to begin pursuing his MBA degree, Spinelli takes over leadership of the College as it’s celebrating its Centennial and looking ahead to its second century. Well-acquainted with the institution’s people and its prowess, Spinelli is confident that Babson is well-poised to adapt and thrive in this age of disruption.

“We have all the skills. We have the history. We have the intellectual content. We have the reputation,” he says. “We just need the courage to be bold.”

On a Mission

Spinelli considers his new job the culmination of a career that has spanned both business and academia. In 1979, he co-founded Jiffy Lube International and went on to become the oil change giant’s largest franchisee. Later, he spent 14 years working at Babson as a faculty member, provost, and director of The Arthur M. Blank Center for Entrepreneurship.

Leaving Babson in 2007, he began a long-term tenure as president of Philadelphia University, ultimately leading a merger of the school with Thomas Jefferson University in 2017.

Spinelli says the job of a college president is fulfilling, but it’s also all-encompassing. Students and alumni from Philadelphia University reached out to him constantly from early morning to late at night. “I was immersed in Philadelphia,” he says. “It was intense, a hundred hours a week for 11 years.”

In 2018, Spinelli considered retiring after leaving Philadelphia University, now renamed Jefferson. But then Babson came calling. The chance to return to the College as its 14th president was too compelling an opportunity to pass up. “It was a homecoming of sorts,” says Spinelli, who doesn’t look upon his new post as just another stop in his long career. “It is a mission, not a job,” he says.

12 Years Later

With Spinelli back on campus, Babson alumni, faculty, and staff who knew him years ago may notice something different about him, namely that the man is now a wearer of hats, sporting fedoras in the winter and straw hats in the summer.

Spinelli assures that this new fashion choice isn’t a matter of style, but rather because he developed a hypersensitivity to ultraviolet light in his 50s and needed to cover up. “When I first started wearing hats, it was semi-embarrassing, because people think you’re trying to be cool and stylish,” he says. “I am not cool or stylish. There are a lot of things I am good at, but cool and stylish I’m not.”

Coming back to campus 12 years after first leaving for Philadelphia, he admits, was a bit surreal at first: “I like calling it a Back to the Future moment.” He was struck immediately by the students’ maturity and know-how. “The level of sophistication is most startling,” he says. Spinelli has marveled at the intensity of the questions asked at an eTower meeting. He has talked with student entrepreneurs who have the presence and smarts of someone years beyond their age.

He is pleased by the continued growth happening at Babson, considering that he first arrived on campus when entrepreneurship was still getting its sea legs at the institution. “It wasn’t even a division when I got here,” he says.

President Stephen Spinelli Jr. MBA’92, PhD at Babson’s Centennial Commencement ceremony.
Photo: Justin Knight

When he was a professor, Spinelli’s colleagues were pioneers of entrepreneurship at the College, professors William Bygrave and Jeffry Timmons. Spinelli and Timmons co-authored several editions of a book, New Venture Creation: Entrepreneurship for the 21st Century, that lays some of the groundwork for what would become Entrepreneurial Thought & Action®, the College’s key methodology for developing an entrepreneurial mindset.

When he returned to campus earlier this year, Spinelli saw how the seeds of entrepreneurship had continued to grow and flourish in his absence. “I saw how that lineage had grown, and that was motivating, exciting, and energizing,” he says. “Seeing that growth, you say, ‘Is there anything left to do?’ To be honest, there’s plenty.”

The Need for Knowledge

Spinelli takes over at Babson in a time of tumult in higher education. Dwindling enrollments and changing demographics are among the challenges many institutions are facing. Since 2016, more than 100 colleges and universities in the U.S. have closed. “Everybody is scared to death about what is going to happen in the future of higher education,” he says.

To counter that fear, Spinelli poses a question: Will the need for learning and knowledge be greater today or tomorrow? Or how about this year versus next? Spinelli believes that as the world continues to change so briskly, the need for education and continual learning will only increase.

That’s good news for colleges. If they’re open to collaboration and willing to adapt, Spinelli believes that they can prosper and meet that never-ending demand for knowledge. “Opportunity starts with demand,” he says. “If there is demand and we put together a business model that can fulfill that demand, we’re going to win.”

Spinelli warns that Babson is not immune to the market forces affecting higher ed, and the College is now embarking on a strategic planning effort for the future (see “Share Your Thoughts on the Strategic Plan”). The world is full of change, and Spinelli vows that the College will be ready. “Change is fertile ground for Entrepreneurial Thought & Action,” he says.

To be sure, the need for entrepreneurship education is not going away. In fact, Spinelli feels that the ability to think like an entrepreneur could become a required competency for the workplace. Who is better at navigating uncertainty and creating value than an entrepreneur?

“You should be thinking that way as an administrative assistant or a founder of a company or a general manager or an accountant. I do believe that,” says Spinelli. “The impact of Babson could be even greater over the next 20 years or 100 years than it is today.”

From 2013 to 2018, the number of donors to Babson has increased by 74 percent, and alumni participation has increased from 15 percent to 30.5 percent. Between 2013 and 2018, total commitments to the College have grown from $10.4 million to $67.4 million annually.

Every gift of any amount is greatly appreciated and valued by the College. Participation rates are one of the important factors that have helped keep Babson rated as the No. 1 program in undergraduate and graduate entrepreneurship education by U.S. News & World Report.

While Babson recognizes and celebrates gifts at all levels, the College has been especially fortunate to receive ongoing financial support from a core group of philanthropists who have placed Babson among their top giving priorities.

These generous individuals have had the willingness and the capacity to—over time—change the course of Babson’s future through their philanthropy. From advancing academic priorities, to endowing faculty and staff positions, to creating scholarships, and building new campus facilities, these donors have left an enduring legacy to the Babson experience.

In recognition of these preeminent benefactors, this May Babson will launch the Circle of Distinction, the college’s first lifetime giving society that includes people who have given $1 million or more to the College during their lifetimes.

At a luncheon being held during Commencement weekend, more than 80 individuals will be inducted as Circle of Distinction members for their extraordinary commitment to Babson.

“There is no better time to celebrate these exceptional alumni, parents, and friends,” said President Kerry Healey. “Babson’s first century was built on the generosity of our leadership donors, and we want to take this opportunity in our Centennial year to honor them. We are thrilled to welcome 80 Circle of Distinction members and highlight their impressive lifetime contributions.”

Collectively, these individuals have committed more than $330 million to Babson to date. Their impact is remarkable.

For example, their gifts designated for scholarships and financial aid have helped deserving students from around the world—from Maine to Texas, Brazil to Egypt, and everywhere in between. The result: a diverse, multicultural student body and numerous opportunities for any aspiring entrepreneurial leader, regardless of background or circumstances, to access a Babson education.

The common thread among these donors is that they have entrepreneurship in their blood— whether as executives, entrepreneurs, or leaders of family businesses—and they fundamentally believe in the College’s mission to create economic and social value everywhere.

“Babson has had a profound impact on my life and on the lives of our alumni,” said Craig Benson ’77, H’03, vice chair of the Board of Trustees and chair of the Advancement Committee. “More important, however, is the impact Babson alumni, parents, and friends have on the lives of people living around the world. I believe that fact lies at the heart of why these individuals have made the College among their top philanthropic priorities, and we are very grateful to them.”

The College will induct additional Circle of Distinction members annually as they reach the $1 million threshold, and their names will be inscribed on a distinctive plaque in the new Kerry Murphy Healey Park. In this way, new leadership donors will build on the bedrock of those who have come before and set the stage for the College’s second century: alumni, parents, and friends who believe in the Babson DNA and its ability to create fertile ground for novel ideas. – Andy Tiedemann

Now in its 21st year, the Black Affinity Network Conference is dedicated to strengthening the leadership and legacy between black alumni and current students, and providing networking and professional development opportunities for participants. The event also is a celebration of diversity, inclusion, and the achievements of individuals within the Babson College community. – Brianna Radicioni

Photos by Chao Zheng Li

From left: Eric Johnson ’72, P’08; vice president for programming and community outreach Jane Edmonds; president-elect Stephen Spinelli Jr. MBA’92, PhD; Amanda Strong ’87

From left: Chief diversity and inclusion officer Sadie Burton Goss; BAN president Katrina Fludd ’08, MS’10; associate professor Tina Opie

BAN honoree Cathy Hughes (left), Aaron Walton ’83

Conference co-chair Shatiek Gatlin ’16 (left), Affinity Award winner Jeannette F. Angles, Babson’s ARM-E risk manager

From left: Dyana Williams, Lynn Scott, Vivian Scott Chew, Ray Chew.

Alumni, students, and community members attended this year’s Black Affinity Network Conference that included panel discussions and awards.

Cecily (Cis) McClatchy Glavin, H’97
Photo: Patti Glavin O’Mara

Cecily (Cis) McClatchy Glavin, H’97, wife of Babson College’s ninth president William Glavin, H’99, died unexpectedly February 4, age 85. Cis was involved with many charitable organizations and served on various boards, including The American School in London, The American School in London Foundation, and New York City-based Lighthouse Guild and Elder Craftsman. She also was instrumental in raising funds and helping to design the Glavin Family Chapel on the Babson campus. Cis received an honorary doctorate degree from Babson in 1997 and was the undergraduate class Commencement speaker the same year. She is survived by her husband and 41 family members.

Specifically, they are Roger Babson’s boulders. Babson was a man brimming with notions and ideas, and the boulders were something he dreamed up during the Great Depression. Wanting to offer the dignity of work to unemployed stonemasons in his hometown of Gloucester, Massachusetts, Babson instructed them to carve inspirational sayings into boulders that dotted the abandoned colonial settlement of Dogtown Common.

Photographs of those boulders, along with their accompanying mottos for living, hang on the walls of Healey’s office. The words on the boulders seem to call out to visitors: Courage. Kindness. Study. Truth. Integrity.

When asked what words she would carve into rock like Roger Babson, Healey doesn’t hesitate giving an answer. “Lead with humility,” she says. Since the summer of 2013, Healey has served as Babson’s president, and that message of humility is something she takes to heart. “I think that much wisdom comes from disappointments and failures,” she says. “In each challenge, one can find insights, inspirations, and new opportunity.”

As Babson’s 13th president and the first woman to hold the position, Healey has overseen many successes during her tenure, including new programs, new campus construction, and a new energy and enthusiasm for giving in the alumni community. But, as she prepares to step down in just a few months, Healey always carries that humility with her. “Leading a college is a collaborative activity,” she says. “You can’t approach it with enough humility and openness to other perspectives. That allows you to serve others more ably and to amplify the diverse talents around you.”

Links in a Chain

The end of a presidency is a natural time to take stock, to look back. That’s especially so in 2019, as the College celebrates its Centennial.

Such a moment of reflection happened on a Friday night in February. Healey found herself surrounded by history as Babson welcomed back all its living presidents for an event billed as a fireside chat. They gathered on stage in the Sorenson Center for the Arts: Ralph Sorenson, H’85, William Dill, H’91, Leo Higdon Jr., H’07, Brian Barefoot, ’66, H’09, P’01, and Leonard Schlesinger, H’14. (William Glavin, H’99, was unable to attend due to the recent death of his wife, Cecily, H’97.)

Babson College’s Past Presidents »

With Healey serving as moderator, her predecessors reflected on the challenges they faced, the triumphs they saw, and the times that shaped the institution they led. Each president’s answers led to the next president’s, one link in a chain to another, the entire stage taking in the sweep of decades. “It was wonderful to see how the presidents fed into each other’s narratives,” Healey says. “The themes and passions of each president were built upon by the next president.”

That was particularly true when discussing entrepreneurship. On the far side of the stage sat Sorenson, who first focused Babson on entrepreneurship in the late 1970s. Each president, in turn, added to the framework he laid out. “I now have the great honor to be the person who takes that expertise into Babson’s next century,” says Healey.

When Healey first stepped on Babson’s campus, the former lieutenant governor of Massachusetts admits, “I had a great deal to learn about what it means to be part of a college community.” She also had a lot to learn about Babson. “I never could have imagined when I saw this small college in Wellesley that it has an alumni footprint in 119 countries around the world,” she says.

But, now, nearly six years into her term as president, she is like the others on the stage, one more leader building onto a strong foundation. When she thinks about how she added to Babson’s history of entrepreneurial education, Healey points to the Institute for Family Entrepreneurship. Launched in 2018, the institute is a hub dedicated to education, research, and programming for students and families looking to carry on a legacy of entrepreneurship.

On September 21, 2018, Babson College celebrated the official opening of the Weissman Foundry with a ribbon-cutting ceremony. From left to right: Christopher Weissman MBA’90; Michael Weissman ’87, P19; Greg Weissman; Jan Weissman P’87, ’90; Robert Weissman ’64, H’94, P’87, ’90; President Kerry Healey; Board of Trustees chair Marla Capozzi; provost Mark Rice.

Considering that family businesses create more than 70 percent of the world’s GDP, Healey sees the institute as an opportunity for the College to expand its reach and impact. “I can see the College becoming the global leader for family business in its second century,” she says. “There is no other business school as uniquely focused on making sure there is an entrepreneur in every generation of a family business.”

Achievements on Campus and Beyond

Launching the institute, however, is just one of Healey’s accomplishments. Her presidency has helped shape many aspects of the Babson community, both in Wellesley and beyond.

There’s diversity, for instance. Healey’s tenure has seen increased racial, ethnic, and socio-economic diversity on campus among students, as well as the first majority female undergraduate class in Babson’s history. Early in her presidency, she established the Global Scholars Program, the first full-tuition scholarships at the College for international students.

“I am probably the most proud of the Global Scholars Program,” she says. “Their contribution on campus has been profound. They have participated in so many activities. They have started so many programs. They have enriched discussions in the classrooms. And, they will go back to their home countries and have significant positive impact.”

Increasing alumni involvement is another hallmark of the Healey years. When she began at Babson, the alumni giving participation rate was just 13 percent. The rate is now more than 30 percent, and donations from international alumni have increased 500 percent during that time. In 2018, the College had its best fundraising year ever, pulling in $67 million. “That was a wonderful milestone to reach,” Healey says.

President-elect Kerry Healey greets students and faculty after the press conference announcing her selection as Babson’s next president.

Healey gives a lot of praise to the development, events management, and Alumni and Friends Network staffs for this increased participation. She also gives credit to Babson Connect: Worldwide, a global entrepreneurship summit that she founded to engage with the Babson community around the world. First held in Cartagena, Colombia, in 2015, the annual event has taken place in Dubai, Bangkok, and Madrid. In honor of Babson’s Centennial, this year’s event will occur in Wellesley and Boston in September.

Another Healey accomplishment can be viewed by taking a walk around Babson’s campus. In recent years, she has overseen a number of construction projects that have transformed the look of campus: Park Manor West, the new Roger’s Pub & Grille, the Weissman Foundry, and the soon-to-be-completed Babson Recreation and Athletics Complex and the Babson Commons at Horn Library. “I am very excited to see College Drive coming to life in the way it is,” says Healey, who applauds Babson’s facilities department. “I am in awe that they are able to carry all this off on budget and on time. It takes a lot of effort and determination to make that happen.”

Part of the campus transformation has been the moving of the Babson Globe to a place of prominence. Instead of being tucked away behind Coleman Hall, it’s now in a new park on College Drive that also will include flags from the home countries of all current Babson students, a statue of Roger Babson, and markers telling the College’s history. Healey sees the recently repainted globe and the display of flags as a symbol of what the College stands for. “It tells people that we are a global campus,” she says. “We think business happens everywhere, that entrepreneurs are found everywhere.”

Thanks to the contributions of more than 100 donors, the new park will be named Kerry Murphy Healey Park. “I was deeply touched,” Healey says.

Looking to the Future

Other accomplishments include the expanding of the College’s presence in Boston, Miami, and Dubai, and the providing of free, online entrepreneurship courses to more than 200,000 students hailing from nearly every country. But, sitting in her office, surrounded by Roger Babson’s boulders and a view of the Babson Commons construction out her window, Healey would rather talk about the College’s future.

She’s excited by the choice of Stephen Spinelli Jr. MBA’92, PhD, to be the College’s next president. “He has a great love of Babson and a knowledge of the community that spans decades,” she says. She’s curious how he will build on the College’s mission, just as she and all the ex-presidents did before him. “I’m sure President Spinelli will have a great degree to offer in that regard,” she says.

Healey believes the future looks vibrant for Babson. “I’m excited to see where Babson goes now, over the next 10 or 20 years,” she says. “I strongly believe the College is positioned for success. The world needs what Babson is offering. The students that are drawn here are among the most talented in the world.”

As she prepares to join the ranks of former presidents, Healey says those students will be what she misses most about her time at Babson. “They have so much hope for the future,” she says. “They are so self-motivated and optimistic. It is wonderful to be around young people who have so much confidence and self-reliance.”

Looking ahead to her own future plans, Healey says she is keeping her options open but is looking forward to the publication of her forthcoming book, The Politics of Dignity: An Agenda to Unite America’s Moderate Majority. It focuses on how human dignity can guide public policy, a timely topic for these divisive times. “I believe that our failure to honor each other’s dignity in our policies and rhetoric has driven our country apart,” she says. “I believe the path toward national renewal lies in embracing policies that advance our human dignity.”

Before Healey steps down, however, she has one last special trip to make, one that could involve Spinelli as well. While she is obviously a big fan of Roger Babson’s boulders, Healey admits she has never seen them in person. “I will plan a trip before I depart Babson,” she says. “Maybe, I’ll take Steve with me.”

Illustration: Oivind Hovland

Study abroad. That’s the number-one piece of advice I can give. I went on the Arcadia in Rome program, and while there, I also traveled to Lisbon, Paris, Berlin, Copenhagen, and many cities in Italy. Every city and country I visited, not only did I learn a new culture and perspective, but I also gained valuable insights into who I am as a student and person. In those three months, I learned more about myself than I have in my entire life. College is a fast-paced world, and I got caught up in doing too many things. Being abroad allowed me just to slow down, enjoy time alone, and truly appreciate what really matters. —My-Linh DeBonis ’19

Find people and environments where you can be yourself. For me that was Babson Dance Ensemble. I’ve danced my entire life, and it’s one of my greatest passions. The people I met through BDE are now some of my best friends and biggest inspirations, not only in terms of dance, but professionally and academically.

Also, take advantage of every opportunity that comes your way. Don’t be afraid to try new things. One of my favorite experiences at Babson was when I went on an elective abroad to Argentina and Uruguay during spring break. I didn’t know anyone going on the program, and I was very much out of my comfort zone. But I was able to make new friends and meet people whom I otherwise wouldn’t have. —Camille Jones ’19

A lot of times people come to Babson and say, I’ve got to get a 4.0 GPA. I got caught up in it, too. But it’s not worth the stress. I realized that college is more about the people you meet and the experiences you have. These things matter more. Your GPA only tells 10 percent of the story. There will always be someone with a higher GPA than you. Your experiences are what define you.

So value your time here, and focus on Babson holistically. Look for community, which sometimes can be difficult to find. Seek people with similar interests and bring them together. I was blessed to be a Posse Scholar, and I also took the initiative and headed the Muslim Student Association, helping to build it into a vibrant community. —Mahd Sharif ’19

My biggest tip for the incoming class: Get on Google Calendar and plan your life on it. The calendar helps me figure out my busy days and keeps me sane. My second tip is to make sure you’re passionate about everything you commit yourself to. My schedule is jam-packed, but I love everything I do.

Organizations like Habitat for Humanity, the admissions office , and my sorority, Chi Omega, are a few of the wonderful things that have made Babson feel like home to me. I also love attending performances by the Babson Dance Ensemble, the Rocket Pitches a cappella group, and the Students Against Gravity improv group. I even play on the women’s club ice hockey team. It makes me happy to take advantage of all the wonderful experiences that Babson offers. —Abi Cohen ’19