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October, 1969 The Mary Reynolds Babcock Foundation approves a grant of $2,000,000 to be used as the initial
endowment of the Babcock School of Business Administration
August, 1970 Initial faculty of the School assembled; curriculum planning undertaken for two-year master’s
programs in business administration
September, 1970 Name of the School changed by administrative action and approval of Mrs. Winifred Babcock to the
Babcock Graduate School of Management
March, 1971 Mary Reynolds Babcock Foundation raises total giving to the Babcock School to $3,357,000 by ad-
ditional gift of land valued at $297,000
September, 1971 Dean Robert Carlson resigns; Jack D. Ferner appointed Acting Dean of the Babcock Graduate School of
Management
September, 1971 Convocation of first class of entering graduate students: 33 in the MBA (Resident) program; 26 in the
MBA (Executive) program
Spring 1972 First BS Degree in Business and Accountancy available at Wake Forest College
September, 1972 Class of 28 and 36 students, respectively, enter resident and executive MBA programs; final year of
the BBA program within the University
December, 1972 Acting Dean Jack Ferner appointed Dean of the Babcock Graduate School of Management
May, 1973 First MBA degree awarded
March, 1974 Dean Jack Ferner resigns; Dr. Frank Schilagi appointed Dean of the Babcock Graduate School of Man-
agement
1973–1978 Babcock School faculty hold discussions with AACSB regarding accreditation of the MBA Programs, re-
ceive encouragement to apply for accreditation; AACSB rejects the School’s application as premature
February, 1979 Committee appointed by Provost Edwin Wilson to study business programs at Wake Forest University
and make recommendations on the best means for pursuing accreditation
June, 1979 Final reports of the committee submitted; committee unable to reach agreement on recommended
means
December, 1979 Trustees approve in principle the establishment of an undergraduate school of business and accoun-
tancy, as the most appropriate strategy for achieving accreditation of the Babcock School
February, 1980 Dean Frank Schilagi resigns; Dr. Bernard L. Beatty appointed Acting Dean
July, 1980 Dr. Edward L. Felton, Jr., appointed Dean of the Babcock Graduate School of Management
September, 1980 Trustees pass resolution creating the School of Business and Accountancy to replace the Department
of Business and Accountancy, which, since 1968, had been a part of Wake Forest College
October, 1981 Babcock School Faculty approves in principle the adoption of life-long management education
programs as an extension of its commitment to MBA educational programs
December, 1981 Trustees pass resolution creating the Graylyn Conference Center
August, 1982 Dean Edward Felton resigns; Dr. Robert W. Shively appointed Dean
October, 1982 Dr. Willisia Holbrook becomes the School’s first full-time Director of Career Planning and Placement
July, 1983 Two-year self-study and visitation process begun for AACSB accreditation in cooperation with School
of Business and Accountancy
September, 1983 Dr. Alvar Elbing joins the Babcock School as Director of the Institute for Executive Education, the
School’s new vehicle for conducting research and offering programs related to the career-long educa-
tion of professional managers
October, 1983 Inauguration of Dr. Thomas K. Hearn, Jr., as Wake Forest’s twelfth President
November, 1984 $500,000 matching gift voted for the Babcock School by the Directors of the Mary Reynolds Babcock
Foundation
April, 1985 Accreditation of the Babcock School (and the undergraduate School of Business and Accountancy and
its Accounting Program, separately) by the AACSB
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