Love School of Business Collection
This collection contains materials related to the history of Elon University's Business School. It includes the establishment of the Business Administration program, Master of Business Administration program, and the Martha and Spencer Love School of Business. It contains items such as programs, invitations, correspondences, and reports. The collection dates range from 1964 to the present. The collection is arranged chronologically, then alphabetically by type of material and then alphabetically by sub-categories when appropriate.
- 1964 - ongoing
Conditions Governing Access
Collection is open for research.
The nature of the Archives and Special Collections of Belk Library means that copyright or other information about restrictions may be difficult or even impossible to determine despite reasonable efforts. The Archives and Special Collections of Belk Library claims only physical ownership of most materials. The materials from our collections are made available for use in research, teaching, and private study, pursuant to the U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research of otherwise should be fully credited with the source.
Biographical / Historical
Martha and Spencer Love School of Business Taken directly from the program that was created to recognize and celebrate 25 years of the Martha and Spencer Love School of Business, it states the following about the history of the Love School of Business (folder titled 2011-program (Love School of Business 25 years)): "In late December of 1985, the Martha and Spencer Love Foundation made a $1 million gift to Elon College to endow its business program. The Elon board of trustees voted to name the program the Martha and Spencer Love School of Business in memory of the foundation's benefactors. At the time, the gift was the largest in the 97-year history of the college. Today, 25 years after its establishment, the Martha and Spencer Love School of Business is a leader in transformative business education, and upholding the high ideals of the American free enterprise system embraced by Spencer Love. The School provides an exceptional learning experience for students, facilitating their transformation into knowledgeable, responsible business professionals and leaders who make a difference in their professions, their organizations and the global economy. The School is accredited by the AACSB International-The Association to Advance Collegiate Schools of Business, an honor achieved by less than five percent of business schools in the world. Bloomberg Businessweek recognized the Elon MBA in their most recent ranking as number one in the South and number six in the nation. The Princeton Review regularly includes the program in its best business schools list. During this academic year, students in the undergraduate program have won top honors in taking jobs with major corporations such as Goldman Sachs, JP Morgan Chase, SAP, SAS and EMC, as well as joining non-profits including Teach for America and entering graduate programs at top universities including Harvard and Vanderbilt." Master of Business Administration In the 1983-1984 academic year, Elon College listed "Investigate the possibility of establishing an MBA program and, if the results are positive, begin implementation," as the third objective in its list of Institutional Objectives. The Master of Business Administration Program was approved by the Elon faculty during the November 4, 1983 faculty meeting, and in 1984 the Master of Business Administration Program was officially established. In April of 1984, 200 inquiries were made about Elon's MBA program and the program received 30 applicants. The number of applications has continued to rise since 1984. In May of 1986, Elon awarded the first five MBA degrees at commencement. By the fall of 2006, the MBA program had 100 enrolled students. In 2008, the MBA program was recognized by the Princeton Review as one of "The Best 290 Business Schools." In the Princeton Review's 2010 edition of the "Best 301 Business Schools" the MBA program was ranked fifth among the nation's "best administered" programs. Businessweek also ranked Elon University's MBA program in 2008, as number two in the South and number 12 in the nation. Legends of Business According to the online E-Net article titled "Biscuitville CEO shares story for 'Legends of Business' series," Legends of Business is a series provided by the Love School of Business. It brings in various successful business leaders to speak to the students of Elon and the community on their business success stories. Each speaker is notably distinguished and a community leader. The program is provided by a gift from R. Cruse Lewis Master Pools Guild at Elon University. The Frank S. Holt, Jr. Business Leadership Award and Professorship The Frank S. Holt, Jr. Business Leadership award recipient is chosen though nominations from the community and selected by a committee of college, civic, and business leaders. It is presented by the Martha and Spencer Love School of Business. Recipients receive an art object of lead crystal and their name engraved on a plaque in the Love School of Business. The recipient of the award is a local citizen whose contributions to business and the community replicate the same progressive, visionary leadership demonstrated by Frank S. Holt, Jr. The award was established in 1991 with its first recipient, Ralph M. Holt, Jr., receiving the award on October 1, 1991. Frank and Ralph Holt are cousins (their fathers were brothers). Also beginning in 1991, The Frank S. Holt, Jr. Professor of Business Leadership was established to honor Mr. Holt's service as a member of the Love School of Business Advisory Board--made possible through the $500,000 endowment. The endowment is used as a salary supplement to attract and retain experienced faculty. The recipient is identified as being a notable leader and professor. In 1998, the endowment fund sought to reach $1,000,000, but returned back to $500,000 the following year. The first recipient of the endowed professorship was Dr. David. M. Noer, a professor in the Love School of Business, author, scholar, and international consultant, on November 25, 2002. Timeline for the Love School of Business The timeline below was compiled for the Love School of Business 25th anniversary celebration in 2011. The information in the timeline was taken from a variety of sources including The Magazine of Elon, The Pendulum, and the Elon University Undergraduate Academic Catalog. 1981. The Jefferson-Pilot Professorship was established by the Martha and Spencer Love Foundation to be awarded to a faculty member in any academic discipline. 1983-1984. The third objective listed on Elon College's 1983-1984 list of Institutional Objectives stated: "Investigate the possibility of establishing an MBA program and, if the results are positive, begin implementation." November 4, 1983. The proposed MBA program was approved at the faculty meeting, 75 "yes" votes and 45 "no" votes. November 6-7, 1983. An evaluation team from the Southern Association of Colleges and Schools visited Elon and indicated that they would recommend approval of the program. 1984. The Master of Business Administration Program is officially established. January 1984. The Southern Association of Colleges and Schools approved Elon's request for candidacy as a Level III institution, paving the way for the first MBA classes to be offered in the fall. January 18, 1984. Marketing for the MBA program began with an announcement luncheon for local corporate leaders. April 1984. 200 inquiries and 30 applications were received in regard to the MBA program. June 1984. Number of students accepted into the MBA program out of a total of 44 applicants: 13 males and 6 females. July 1984. Number of students accepted into the MBA program out of a total of 51 applicants: 16 males and 10 females. August 1984. Number of students accepted into the MBA program out of a total of 60 applicants: 22 males and 13 females. August 1985. President Fred Young's periodic report to the Board of Trustees announced that the Martha and Spencer Love Foundation made a gift of $1 million to the college for support of the business program. December 6, 1985. Official announcement of the $1 million gift made at a press conference in Alamance Building, following a meeting of the Love Foundation Board of Trustees-Elon College Trustee Emily Preyer accepted the gift on behalf of the college. December 12, 1985. Announcement about the Love gift appears on the front page of The Pendulum "Foundation's $1 million gift is college's largest." The name of the business department was changed to The Martha and Spencer Love School of Business in honor of the donor, Spencer Love, who founded Burlington Industries and his wife Martha. Business administration major is the largest academic program at Elon and includes 14 faculty members. The Business School will be housed in Alamance Building. May 4-6, 1986. The Southern Association of Colleges and Schools conducted its final accreditation review of the MBA program. May 1986. First five MBA degrees awarded at commencement. June/July 1986. The Southern Association of Colleges and Schools approved and accredited the MBA program. First reference in the Board of Trustees meeting minutes that the business school is referred to as the Love School of Business. August 1986. The Elon College Board of Trustees approved the administration to undertake a campaign to raise an additional $1 million dollars for the Love School of Business. The campaign would begin in the spring of 1987. Elon Board of Trustees approved a national search for the Director of the Love School of Business to take place. 1987. First Union Bank established a $10,000 scholarship to be paid over 5 years to business school students, and the last year it was awarded was in 1992-93. February 1987. The Love School of Business Board of Advisors held their first meeting. The Board consisted of 10 members. May 1987. Faculty set guidelines on admitting students into the business school. Guidelines were approved at the faculty meeting. Winter 1988. Tom Tiemann named the first Dean of the Martha and Spencer Love School of Business. NCNB Corporation made a gift of $25,000 to endow a program of field education for business students. Fall 1988. Business Leaders Seminar program started with the first speaker being Dr. Frederick J. Stephenson '65. October 1991. Ralph M. Holt, Jr. was the first recipient of the Frank S. Holt, Jr. Business Leadership Award given by the Martha and Spencer Love School of Business. June 1992. W. Robert Guffey named Dean of the Martha and Spence Love School of Business. January 1993. D. Earl Pardue was awarded the Frank S. Holt, Jr. Business Leadership Award. September 1993. The first Family Business forum meeting was held in Greensboro, North Carolina. The forum provides seminars specifically designated to address the needs of family business. August 1994. Elon launched an offsite extension of the MBA program in Laurinburg, North Carolina. Classes were held on the campus of St. Andrews Presbyterian College and taught by Elon faculty. The "Lock Step Program" was experimental. Spring 1995. Elon Board of Trustees approved to renovate Long Building to house the Martha and Spencer Love School of Business, which had previously been in Alamance Building. November 14, 1995. Business school officially occupied the Long Building. March 1996. John Burbridge, Jr. became the Dean of the Martha and Spencer Love School of Business. Fall 1996-Winter 1997. Sponsored a series of conferences on "Organizational Effectiveness in the 21st Century," targeting CEOs, CFOs, general managers and systems professionals. 1997. Love School of Business Entrepreneurial Leadership Program (ELE) started under the direction of Barth Strempek. Spring 1997. Faculty approved a redesigned MBA curriculum which emphasizes seven skills students must master. 1998. The Love School of Business Entrepreneurial Leadership Program (ELE) released their first CD titled "Teach Me Tonight." Winter 1998. MBA students visited China as part of a new push to give students exposure to global business markets. Fall 1998. Business school became a candidate for accreditation by the International Association for Management Education. Spring 2000. Received a two year grant of nearly $150,000 from the U.S. Department of Education to fund a special international business initiative. 2001. Business School awarded a $385,324 grant from the Fund for the Improvement of Post-Secondary Education. Money will be used to fund a new entrepreneurship program called the Elon Enterprise Academy which will take effect through a series of five classes between 2002 and 2004. Spring 2001. Ernest A. Koury and Maurice J. Koury announced a gift by Maurice Koury to name a new building in honor of his brother to house the Martha and Spencer Love School of Business. September 2001. Love School of Business Entrepreneurial Leadership Program released its latest Jazz CD "Times Fly" at a concert on September 28, 2001. Winter 2002. Ted Walker and his wife Carol Ann endowed the Journal-In-Education program. The $35,000 gift provides Wall Street Journal subscriptions to juniors and seniors who are Jefferson-Pilot Business Fellows. July 2003. First billboard saying "Learn. Lead" advertising the MBA program put up on Interstate 40, exit 150 (remained visible until April 2005). March 2004. The campaign to build the Ernest A. Koury, Sr. Business Center had raised $7 million of the $9.5 million goal. April 2004. Business School receives Association to Advance Collegiate Schools of Business (AACSB International) accreditation. Spring 2004. Business School had 850 undergraduates and 80 graduate students and 31 full time faculty. Fall 2004. Love School Board of Advisors voted to name the atrium in the new Ernest A. Koury, Sr. Business Center after John J. Burbridge, Jr. for his exemplary service to Elon. August 2004. A second billboard put up on Interstate 40 (near exit 124) advertising the MBA program (remained visible until April 2005). November 2004. Economists in the Business School completed the first study of Elon's "Economic and Social Impact on the Central Piedmont of North Carolina." Elon contributes $243 million to Alamance, Guilford, Orange, and Durham counties. Winter 2005. Laboratory Corporation of America Holdings (LabCorp) made a major gift to the Ernest A. Koury, Sr. Business Center campaign and will name the LabCorp Executive Education Suite in the Koury Business Center. April 14, 2005. Site dedication ceremony for the new Ernest A. Koury, Sr. Business Center. Fall 2006. Ernest A. Koury, Sr. Business Center officially opens. Business School has 990 undergraduates and 100 graduate students. 2007. Doherty Center for Entrepreneurial Leadership was endowed by a $1 million gift from Edward and Joan Doherty. Spring 2007. Martha and Spencer Love Foundation gave $262,000 to Elon to fund scholarships for business students who exhibit exceptional leadership skills. July 2007. Mary Gowan named Dean of the Business School. 2008. MBA program was recognized by the 2008 Princeton Review as one of "The Best 290 Business Schools." Winter 2008. MBA program ranked number 2 in the South and number 12 in the nation by BusinessWeek magazine. Spring 2009. Business school was re-accredited by the Association to Advance Collegiate Schools of Business (AACSB International). Summer 2009. First annual summer business session for non-business majors offering participants an overview of business principles. June 2009. Elon in New York program established, sponsored by the Love School of Business. Fall 2009. Princeton Review ranked MBA program fifth among the nation's "best administered" programs in its 2010 edition of the "Best 301 Business Schools." Winter 2010. BusinessWeek magazine ranked MBA program number 1 in the South and number 6 in the nation among part-time programs. Martha and Spencer Love Taken directly from the program that was created to recognize and celebrate 25 years of the Martha and Spencer Love School of Business, it states the following about Martha and Spencer Love (folder titled 2011-program (Love School of Business 25 years)): "In 1999, Business North Carolina identified the 20 titans of the 20th century Tar Heel Business. The magazine named James Spencer Love as the most influential figure on this list, noting that Spencer Love was responsible for 'an unparalleled textile corporation in the creation of Burlington Industries.' While others continued to rely on commission to move their merchandise, Love opened his own New York sales office to create a brand that both the domestic and international markets would demand. He was a fierce competitor who was willing to take risks by diversifying and investing heavily in new technology and new methods to make his mills more efficient and productive, and he valued his employees. At the time of his death, Burlington Industries was the world's largest textile firm and the 48th largest corporation in the country. His wife, Martha, provided a partnership with Spencer that greatly influenced the success of Burlington Industries." Frank S. Holt, Jr. According to the 1995 Frank S. Holt, Jr. Business Leadership Award program (folder titled 1995-Program (Holt Award)): "Frank S. Holt, Jr. is remembered as an example of an outstanding business leader, noted for his extraordinary vision and commitment to quality. He was a successful businessman and an excellent manager who cared for the welfare of others. Throughout his career as president of Holt Manufacturing Company, he recognized that the health of his company was linked to the well-being of the community. A lifelong resident of Burlington, Mr. Holt directed the Alamance County United Way Campaign over the $1 million mark and was a major contributor to the arts and cultural programs in the county. He served on the advisory board of the Cherokee Council of Boy Scouts and the board of directors of Hospice in Alamance County. Mr. Holt also served on the board of directors of the Salvation Army Boys' and Girls' Clubs. A successful fundraising drive in 1990 brought about the construction of a new building-the Frank S. Holt, Jr. Boys' and Girls' Club-dedicated in 1993. He envisioned partnerships and joint ventures between the business and college communities. His active role as a charter member of the Martha and Spencer Love School of Business Advisory Board was indicative of his recognition of the importance of education. Mr. Holt believed that it was incumbent upon a business leader to be a civic leader. He led by example, giving generously of his time and resources." According to The Magazine of Elon 1990 spring edition, Frank S. Holt, Jr. died in a plane crash (aboard a private plane) on February 13, 1990.
1.6 Linear Feet (4 archival boxes)
Language of Materials
The collection is arranged chronologically, then alphabetically by type of material and then alphabetically by sub-categories when appropriate.
The collection is located in the Carol Grotnes Belk Library Archives and Special Collections at Elon University. Please contact the Archives staff for further details about the location.
Immediate Source of Acquisition
Unknown. Materials collected and assembled over many years to form collection.
Processed by Rachel Stas, February, 2012
- University and colleges--Graduate work. Subject Source: Library of Congress Subject Headings
- Encoded by Katie Nash, March, 2012
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- Describing Archives: A Content Standard
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