When Kjell R. Knudsen was appointed dean in 1998, one of his first goals was to name the School and create a brand for it that would be known outside the region. As Knudsen retires this spring, he leaves the School with far more than a new name. His tenure has been marked with incredible achievements, all of which have brought the Labovitz School of Business and Economics to new heights and transformed it into one of the premier business schools of its kind in the Midwest.
Raising the Standard
One of Knudsen’s greatest accomplishments was getting LSBE accredited through AACSB International, the world’s leading business-school accrediting agency. Though it was Knudsen’s leadership and ambition that ultimately led to LSBE’s accreditation in 2000, Knudsen stresses that the School had made progress in accreditation prior to his deanship. A true example of his humble nature, Knudsen says he served as a catalyst for bringing the plans to fruition. “My philosophy is if you can surround yourself with people who have good judgment, whatever you do is so much easier,” Knudsen said. His involvement with AACSB extends to serving on several AACSB committees, most recently the prestigious Blue Ribbon Committee responsible for creating the new business school accreditation standards.
Building a Solid Foundation
In 2003, the School of Business and Economics changed its name to the Labovitz School of Business and Economics after a $4.5 million gift from Joel Labovitz (B.A. ’49) and his wife, Sharon. Knudsen and Labovitz then worked together to transform LSBE into a prestigious school housed in a state-of-the-art, Gold LEED-certified building. “When he learned he would have a new building, I think he nearly burst at the seams,” said Joel Labovitz of Knudsen. The $23 million building opened in 2008, bringing modern technology and experiential learning facilities, such as the Wells Fargo Financial Markets Lab, to students and staff.
Rigorous Academics; Real-World Experience
Knudsen complemented the School’s new hands-on learning facilities by creating and strengthening partnerships with the business community. Today, LSBE students benefit from more applied-learning opportunities than ever before. Knudsen helped launch numerous offerings for students, including the financial markets program, financial planning minor, health care management major, and retail marketing analytics major. “Many of the programs that started under Kjell’s leadership are now well-established and will be here long after his retirement,” said Dr. Praveen Aggarwal, interim associate dean and MorseAlumni Distinguished Teaching Professor of Marketing. But a more important legacy, says Aggarwal, is the culture of collegiality and cooperation that Knudsen has created.
Leading By Example
“Kjell’s collaborative style of leadership has helped create a culture of cooperation and mutual respect within the School,” said Aggarwal. “Faculty and staff understand and respect the value of the work that’s done by all of us in moving the School forward.” Richard Brown, CEO of JNBA Financial Advisors and LSBE Senior Fellow, says he admires Knudsen’s kindness toward others and his ability to think outside of the box. “Whether he is speaking to a student, faculty member, or friend, he does so with care and sincerity. He is constantly thinking of ways to better the lives of others and provide opportunities for our future leaders.
Leaving on a High Note
Knudsen says he is leaving LSBE with a great deal of satisfaction. “It has been a real pleasure to work with the faculty, students, and staff. Over all these years, I have looked forward to coming to work and working with my colleagues to move the School forward in small and big ways.” The entire business community – from LSBE students, faculty, and staff to AACSB associates and regional and national business partners – wish him the best. Knudsen will continue at LSBE for the next two years on a part-time basis. “Kjell has established a superb foundation for LSBE,” said Labovitz. “His legacy will last a very long time.”
A Look Back at the Years
1979
Joins LSBE as faculty
1984
Appointed associate dean
1997
Serves as the UMD project manager and co-chair to the board of directors of Soft Center Duluth
1986 - 1998
Serves as founding director of the UMD Center for Economic Development
1998
Appointed dean of LSBE
2000
LSBE receives its first accreditation from the Association to Advance Collegiate Schools of Business International (AACSB International), the world’s leading business-school accrediting agency
MBA program extended to Rochester
2002
Financial markets program launches
2003
The School of Business and Economics becomes the Labovitz School of Business and Economics (LSBE) after a $4.5 million gift from UMD alum Joel Labovitz and his wife, Sharon
Begins a six-year term on AACSB International’s Initial Accreditation Committee
2006
Healthcare management major launches
A record 1,900 students enroll (a 600-student increase in Knudsen’s eight years of deanship)
Receives the David A. Martin Entrepreneurial Leadership Award at the Joel Labovitz Entrepreneurial Success Awards
2008
Opens state-of-the-art, $23 million, Gold LEED-certified building
2009
Appointed to serve a three-year term on AACSB International’s Pre-Accreditation Committee
2010
Introduces financial planning minor and launches financial planning learning lab at the Duluth Technology Village
Hosts first annual UMD LaBounty Entrepreneur Competition
Creates Student Advisory Council
2011
Retail marketing analytics program launches
Appointed to the AACSB International Blue Ribbon Committee of Accreditation Quality, a group of 20 people from around the world who created the new accreditation standards
2012
Launches Minnesota’s first Financial Planning Association (FPA) Student Chapter
2013
Anticipated launch of the first collaborative major with the School of Fine Arts - Marketing and Graphic Design
Honored with the Business Person of the Year Award at the 2013 Joel Labovitz Entrepreneurial Success Awards in April
Check out Inside the Margins (Volume 9, Issue 1) to read more about Kjell's retirement.