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from various sources, including the State of Maryland, the University of Maryland, and private gifts. Another funding source has been construction bonds issued by the university but guaranteed by the business school, which has full respon- sibility for principal and interest.We also have been willing to incur debt at times to fund the necessary enhancements. Generating Resources Our undergraduate program transformation obviously has required changes in funding attitudes and actions. In 1998, we were about 85 percent to 90 percent state-funded. Today, we are about 40 percent state-funded, and our gross budget (at about $40 million) is more than double its 1998 level. Increased revenue is derived from private funding, centers and contracts, executive education, and differential tuition from our full-time and off-site part-time MBA programs. Funding for the new wing of VanMunchingHall has come Lessons Learned As guardians of one of the most popular undergraduate majors at the University of Maryland, we offer the following advice for those who want to implementmajor academic pro- PHOTO BY SCOTT SUCHMAN froma poorly attended event that attracted only 50 students, to a gala affair that attracted about 400 students, alumni, recruiters and other corporate representatives, faculty, and staff in spring 2001. One of our newest community-building initiatives will be together officers from the 14 undergraduate student organi- zations to develop action plans for their organizations, and to hone leadership and other skills. Our annual Undergraduate Student Banquet has evolved development activities for freshmen and sophomores pursu- ing business majors, co-sponsors this event. We also launched the Leadership Retreat, which brings lant to make sure that others are supporting those choices. ■ Be innovative. Innovation led to the creation of Teaching Professors at the Smith School, helping both to gram change: ■ Make and stick to the hard choices. Be constantly vigi- ment policies angered some students, parents, university offi- cials, and other stakeholders. But the result is a stronger Smith undergraduate program, ofwhich all constituencies can relieve faculty course overload and enhance teaching quality. ■ Be thick-skinned. Enforcement of our limited enroll- the launch of our Business Scholars Program in fall 2002. All of our directly admitted freshmen will enter the Smith School as Business Scholars,mentored by faculty and others fromthe very beginning. Since the Smith School continues to limit the number of enhancements. Challenge the conventional practices of inflexible timelines for capital projects. Be willing to incur debt. The Smith School's undergraduate program is well on its be proud. ■ Go against the grain to find the resources to support students admitted as business majors, we must extend our resources campuswide in other ways to grow our sense of community. That is one of the reasons we established the Smith School's Entrepreneurship Citation Program in the spring of 2000. The program joins selected undergraduates from business and other areas to encourage them to create and grow high-potential enterprises. way to becoming truly distinguished. We're looking forward to moving into our new wing this spring and to welcoming our first class of Smith Business Scholars in fall 2002. From the outset, we knew that this transformation would z not and could not be about being "loved." It had to be about being successful. The irony is that because of the success we've achieved, our students love the Smith School.■ Howard Frank has been dean of the Robert H. Smith School of Business since 1997. Patricia Cleveland joined the Smith School as assistant dean of undergraduate studies in 1998. BizEd MARCH/APRIL 2002 55