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Miami U. business research center draws interest of major corporations

Ben Garbarek

As the only one of its kind, Miami University's innovative Center for Governance, Risk Management and Reporting (GRMR) is now planning for its annual conference this April.

The center, first formed in April 2006, is known throughout the country for its unique combination of governance, risk management and reporting and, according to co-directors Brian Ballou and Dan Heitger in the Farmer School of Business, is the only one of its kind in the United States.

"We want the center to be the academic thought leader for corporate governance, risk management, and business reporting," Ballou said.

These three fields are integral to the business world, Ballou said. Governance, he explained, refers to the role played by an organization's board of directors, while risk management focuses on identifying viable threats to the organization. Reporting, therefore, is the manner in which a company is able to communicate these potential problems.

"These three areas are rapidly evolving, however, they are not well understood," Ballou said.

According to Marc Rubin, the chair of the department of accountancy, the center will play a unique role in organizing activities, as well as helping develop curriculum and research.

Currently, the center hopes to allow students of all academic backgrounds to perform research in these fields and, Heitger said, will hopefully create internships for these students as well.

According to Heitger, the center is looking to work with the Inside Washington Program to promote need-based funding for internships and possibly creating a Washington internship relating to governance, risk management, and reporting.

"(This is) one neat thing that can affect all types of students," Heitger said.

With these efforts, the center hopes to be the leading brain trust in these three fields.

The center also has a list of objectives in order to pursue its mission, including bringing researchers and practicing professionals to address core issues associated with these three fields and educate students about these areas.

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The program has drawn considerable attention to the program in academia and beyond, according to Heitger, creating buzz and positive press.

According to Heitger, businesses such as The Limited, Procter and Gamble, and Fidelity have all sent employees to the center to conduct research.

He said that GRMR was recently featured in the Harvard Business Review for research, performed by Cintas, studying sustainable jobs for the chronically unemployed.

Heitger then hopes that this attention will build on the existing reputation of Miami University and the Farmer School of Business.

Junior Cassie Lou O'Byrne, even though she personally had not heard of the center, sees it as a potentially useful tool for students, especially if the center pairs up with programs such as Inside Washington.

"I'd say (the development of the center) is probably a good thing, because a lot of students are double majors in finance and political science," O'Byrne said. "So I think a lot of people would be interested."

Since its creation, the center has already hosted more than 20 high-level speakers in its two masters-level courses, Ballou said. So far, GRMR has hosted the chief financial officers of companies such as Procter and Gamble, General Electric, and Fifth Third Bank, as well as numerous Washington lobbyists.

The center is currently located in Laws Hall and is a part of the Farmer School of Business. However, the center will move to a new location upon the completion of the new Farmer Hall.