Bringing an International Perspective to the College of Business

Jeffrey Krug, Ph.D., Jack and Vada Reynolds Endowed Chair in International Bus.
Jeffrey Krug, Ph.D., Jack and Vada Reynolds Endowed Chair in International Bus.

Jeffrey Krug, Ph.D., joined the College of Business last August 2010 as the Jack and Vada Reynolds Endowed Chair in International Business. Krug previously taught at universities both here and abroad, including Penn State, Indiana University, University of Illinois at Urbana-Champaign, Virginia Tech, College of William & Mary, Virginia Commonwealth University, and University of Münster in Germany. Before entering academia, he worked with PepsiCo, Inc., Kentucky Fried Chicken International, Texas Instruments Incorporated, the Austrian Postal Savings Bank in Vienna, and Commerzbank in Düsseldorf, Germany. He brings a strong background in economics, finance, accounting, and strategy to Loyola, where he teaches courses in strategic management and global strategy.

Krug has extensive international experience. He speaks and writes English, German, Portuguese, and Spanish and has a working knowledge of Japanese, French, and Finnish. He has lived in Austria, France, Germany, Brazil, and the United States. As an undergraduate student, he studied at the University of Cologne, Germany and University of Vienna, Austria. He has consulted extensively in Europe, Latin America, and the United States, working as an external consultant and seminar leader for leading strategy firms such as Accenture, Harnischfeger Pietsch & Partner, McKinsey & Co., and PricewaterhouseCoopers. He has also been a consultant for organizations such as the Federal Reserve Bank of Richmond, ChemTreat/Danaher, Rural Cellular Association, Porsche, Volkswagen, Caterpillar, Deutsche Telekom, and Procter & Gamble, among others.

In his first year at Loyola, Krug worked tirelessly on behalf of the university to revive the Center for International Business. He constituted an internal International Business Governance Board, organized a faculty International Business Group, and reconstituted the International Business Advisory Board, working to develop strong relationships with external business partners such as the World Trade Center, World Affairs Council, and the Port of New Orleans, among many others. He organized a new student organization called the Global Business Association (GBA), which will be open to all CBA students. An outstanding group of business students from all functional majors has been organized to kick off the first activities of GBA in September. He also initiated efforts to launch a Loyola chapter of AIE-SEC, the world’s largest student-run organization. AIE-SEC will be the launching pad for the development of foreign internships for Loyola students and internships for foreign students in New Orleans.

In addition to his work with the aforementioned programs, Krug has initiated a restructuring of the international business major.

“One of the problems our international business majors face on the job market is that corporations want graduates to make immediate contributions in a functional area of business. Our IB majors are very well-rounded but lack functional training that allows them to get a foot in the door,” Krug says.

This problem will be addressed by restructuring the international business major so that every student graduates with a functional concentration.

“Our students will be able to walk into an interview and tell recruiters that they are graduating with a major in international business and a functional concentration in accounting, economics, finance, management, or marketing.” It will be a tremendous opportunity for our students to improve their marketability.

Recently, Krug initiated efforts to establish Loyola as a “full member” in the Consortium for Undergraduate International Business Programs (CUIBE). CUIBE is composed of an elite group of universities (e.g., University of South Carolina, George Washington University, Washington State University) that meet a rigid set of requirements in international business education. Members must offer an international business major or minor, foreign language training, and foreign exchange programs, among other stringent requirements. Fewer than 35 universities, including Loyola, meet these requirements.

“Our membership in CUIBE will put Loyola in an elite group of institutions and improve our national reputation for excellence in international business education,” Krug says.

Krug recently received international recognition when he was asked to appear on China Central Television. The nationally televised program focused on Krug’s research on the “Human Side of Mergers and Acquisitions” and is one of six, 30-minute segments on mergers and acquisitions aired by China Central Television.

Krug comments, “It was a great honor to be included in this series. They interviewed academics from Harvard, Yale, and Princeton as well as U.S. government officials and chief executive officers from large multinationals in the United States, Europe, and Asia. It is a wonderful opportunity to increase awareness for Loyola and the College of Business.”

Krug has made a major impact on the College of Business in a very short time through his high energy and remarkable work ethic. He enthusiastically notes that “My Pennsylvania German upbringing has infused me with a strong work ethic, and I get enormous satisfaction at seeing us build great programs.”

Great job Jeffrey! Welcome aboard!

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