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Tipping Point Tapping into the A How Villanova University identified "the tipping point" that led to dramatic change in the business school curriculum. by Stephen A. Stumpf 46 BizEd MARCH/APRIL 2006 ny great idea or venture reaches a moment when it achieves critical mass. It goes from being an interesting thought to an actionable plan. It becomes a goal—even a vision—that people share, desire, and discuss. At this dramatic moment, ideas and behaviors become contagious, little changes have big effects, and progress is rapid. This moment has been described as The Tipping Point in the 2000 book by Malcolm Gladwell. Tipping points usher in times of change—change that is critical to the success of business and academia. But few deans are adept at find- ing the tipping points that will make change happen quickly. While identifying these moments is hard work, learning from them is essential. Recently, the academic leadership at the College of Commerce and Finance at Villanova University had a chance to identify and act upon a tipping point as they considered overhauling their finance curriculum and building an on-campus trading room. Many factors—from student enthusiasm to alumni support—had to come together to create enough momentum to move the idea from concept into reality. Focusing on Finance Developing a strong curriculum in finance was not an obvious or effortless move for Villanova. For years, the school had had a strong accounting program, and the deans with the longest tenures during the last 30 years had all been accountants. Yet we were observing sub- tle shifts in the marketplace that let us know we needed to strengthen the finance curriculum. Recruiters had become more interested in stu- dents with a finance background, and those students were earning higher starting salaries. The general buzz among students also pointed to a need for a greater emphasis on finance. Several finance faculty members were actively lobbying for a signif- icantly expanded undergraduate finance curriculum, an MS in finance, and a trading room—also known as an Applied Finance Lab. Students were lobbying for a chance to learn about trading stocks and bonds by managing real cash in a real fund. Students were quite willing to manage part of the university's endowment, but the university was opposed to the idea. To gain some experience, students created a new organization called the Equity Society, which would manage funds contributed by students. Still, without financial backing, it was diffi- cult for this organization to gain momentum, and the fund never exceeded four figures.