|
Accredited since 1931
|
 |
| Walton College History |
 |
The Walton College was founded in 1926 in response to a growing demand for commercial education. Initially, designated as a "School" and headed by Charles
C. Fichtner, the Walton College consisted of four professors, and offered thirty-six courses in business administration, economics and sociology. Curricula
were available in accounting, banking and finance, general business, industrial management and marketing.
The Walton College's first four degrees were awarded in 1927. The Master of Science in Business Administration (MSBA) program was established in 1930, and a year later,
the American Association of Collegiate Schools of Business Administration (AACSB) (now titled the Association to Advance Collegiate Schools of Business – AACSB
International) accreditation was awarded to the undergraduate degree program. Also in 1931, the first female student graduated.
Academic programs have undergone continuous expansion. In 1950, the Doctor of Philosophy in economics was established, and the MSBA degree was re-designated
Master of Business Administration (MBA). In 1959, the Doctor of Philosophy in Business Administration was established. The Master of Science in Accountancy
was established in 1975, and in 1994, was redesigned and renamed the Master of Accountancy (MAcc). The Master of Information Systems and Master of Arts in Economics
were established. In 1963, the MBA program was AACSB accredited, and in 1985, all accounting programs were AACSB accredited. In 2005, the Walton College and
the Department of Accounting were reaccredited by the AACSB International.
Undergraduate fields of specialization have been expanded to include accounting, business economics and international economics, information systems,
finance and insurance, finance and banking, finance and real estate, personnel financial management, marketing, transportation and logistics, and general
business. In 2000, the Bachelor of Science in International Business was introduced.
Since 1926, the Walton College has added several specialized units to its structure in the areas of public service, research and outreach. They include:
(1) the Center for Business and Economic Research (1943) to engage in grants and contracts for federal, state and local government research and to provide
support for faculty research; (2) the Bessie Moore Center for Economic Education (1978) to provide economic education and understanding to elementary and
secondary school teachers; (3) the Small Business Development Center (1979) to counsel and train small business owners and managers on sound business practices,
and new business techniques; (4) the Center for Management and Executive Development (1984) to provide continuing education for middle and upper level managers;
and (5) the Center for Teaching Effectiveness (1992) to enhance student learning by promoting improved teaching practices by faculty and graduate instructors
in the Walton College; (6) the Supply Chain Management Research Center (1996) to provide a direct link between the private sector and University of Arkansas
supply chain resources; (7) the Center for Retailing Excellence (1998) to focus on research and the development of students as future leaders in the retailing
and related industries; (8) the Information Technology Research Institute (1999) to conduct multidisciplinary information technology research, promote
student interest in information technology, and facilitate interaction with the business community; (9) the Garrison Financial Institute (2007) to advance
financial education and knowledge through practice; and (10) the Applied Sustainability Center (2007) to work with disparate partners to facilitate the
rapid development of sustainable business practices and promote their application across the retail and consumer goods industries.
In 1978, the Walton College moved to its present location on Ozark Avenue. With the opening of the Donald W. Reynolds Center for Enterprise Development,
a conference center, in 1998; the Willard J. Walker Hall, which houses the Graduate School of Business, the Career Center and several research centers;
and J.B. Hunt Transport Services Inc. Center for Academic Excellence, a interdisciplinary technology facility, in 2007, the Walton College added state-of-art
facilities for students and faculty. Students have the advantage of classrooms and facilities in various buildings, which the AACSB International accrediting
team designated as prototypical for collegiate schools of business.
The Walton College's student body consists of more than 3,400 undergraduates and graduate students. Similarly, the faculty of the Walton College has
expanded from the initial four in 1926 to more than 80 permanent, full-time faculty holding the doctoral degree. The Walton College's academic program
has been enhanced with the establishment of several endowed chairs and lectureships.
The leadership for the Walton College's record of achievement has been provided by the following: Dean Charles C. Fichtner (1926-1940), Dean Karl M. Scott (1941-1943),
Dean Paul W. Milam (1944-1966), Acting Dean Merwyn G. Bridenstine (1966-1967), Dean John P. Owen (1967-1983), Dean Lloyd Seaton (1983-1989), Dean Stan Smith (1989-1992),
Interim Dean Thomas McKinnon (1992-1993), Dean Doyle Z. Williams (1993-2005) and Dean Dan
L. Worrell (2005-present). Together, with a strong faculty and excellent
students, these administrators have each forwarded the Walton College's dedication to continued academic excellence.
On October 6, 1998, the Walton Family Charitable Support Foundation made the largest upfront cash gift ever given to a public business college - $50 million – to establish
the Sam M. Walton College of Business Administration. The gift permanently memorizes the name of the late Sam M. Walton in grateful appreciation for the example he set
and for the enduring interest and support of his family. In 2000, the college name was shorted to the “Sam M. Walton College of Business.” The gift continues to provide
a variety of programs and opportunities for both students and faculty.
|
| University of Arkansas History |
|
|
The University of Arkansas was established at Fayetteville in 1871. It opened its doors to students on January 22, 1872.
 There were few facilities and practicallyno money for the beginning of that first academic year over a century
ago, but the new institution had one advantage which has been of increasing importance throughout the
years. It was established under provisions of the Morrill Act as both the State University and the Land-Grant College of Arkansas which gave it an academic heritage from the
universities of the past and at the same time bestowed upon it the educational responsibilities in "agriculture and the mechanic arts."
The location of Fayetteville for the University was determined as the result of an election held in counties, cities, and incorporated towns. The
purpose was to generate voting bonds or subscriptions to support the establishment of the University, with the largest bid coming from the County of Washington and the City of
Fayetteville for a combined total of $130,000. To this amount and the Congressional land grant of 150,000 acres, the state added an appropriation of $50,000 for the benefit of
the institution. The 160-acre homestead of William McIlroy was selected as the site at a purchase price of $12,000. The McIlroy home was converted into classrooms, and a new
two-story frame building was constructed with one classroom on each floor.
From a small beginning of eight students and three faculty members on the opening day of classes, the University has developed into a mature
institution with numerous schools and colleges and has become the major 
center in Arkansas for graduate-level instruction and basic and applied research. In addition, its public service activities reach every county in Arkansas.
The academic units in Fayetteville include eight colleges and schools: the Dale Bumpers College of Agriculture, Food and Life Science, the School
of Architecture, the J. William Fulbright College of Arts and Sciences, the College of Business Administration, the College of Education, the College of Engineering, the School
of Law, and the Graduate School. In 1998, the North Central Association of Colleges and Schools continued accreditation through the doctoral level for the University of
Arkansas, Fayetteville.
|
|
