Category Archives: General


Written by Michael D. Herley., DBA in finance candidate at Sacred Heart University in Fairfield, Connecticut (US).

Published by Delano™ and Maison Moderne™

Sacred Heart University Luxembourg recently welcomed some of its Fairfield, Connecticut (US) DBA students, who visited a number of local institutions and professionals. Michael Herley writes about his experience on the trip.

Even though the EU is a nonfederated political and economic union, it felt more like an undiscovered country as I read more than 30 scholarly articles on the union in preparation for a weeklong doctoral seminar on European financial stability in Brussels and Luxembourg. I thought perhaps this was because it was my first trip to Europe.

The doctoral seminar kicked off at the Luxembourg Chamber of Commerce with a presentation that focused on Luxembourg’s geographic advantage in close proximity to major European markets and the government’s agility in attracting business. No doubt these features contribute to Luxembourg’s per capita GDP of approximately $104,000, which is roughly 75% higher than the GDP per capita in the US as of 2017—a fact I suspect would surprise many back home.

Another shining aspect of the doctoral seminar was being immersed in the rich history of Europe, Luxembourg, and Brussels, including visits to cultural centers and historic sites, and dining on exquisite cuisine. It was equally impressive to see how environmentally conscious European society is and how clean the air was in both cities. I particularly enjoyed the biodegradable wooden comb my hotel provided, which is not something typically found at US hotels.

This commitment to the environment was further brought to bear during our meeting with European Investment Bank’s civil society officer, who explained how this organization was the largest lender for actionable climate investments in the world and the largest issuer of green bonds.

Coming out of a presentation at the Banque centrale du Luxembourg a couple of days later, I certainly felt like a million euros. Senior representatives from the central bank focused on the importance of financial stability and emphasized the benefits of having a more unified macroprudential policy stance across the 19 EU countries that have adopted the euro, including placing more financial tools under the purview of the European Central Bank. It certainly will be interesting to watch how these policies evolve as unforeseen economic challenges undoubtedly arise.

Throughout our discussion with representatives from the European Stability Mechanism, I struggled a bit, however, to grasp the willingness of the EU to bail out Greece and other countries during the sovereign debt crisis of 2010. Despite the federal deficits in the US, most states are in reasonably good financial shape, and it’s hard to imagine our federal government bailing out one that was on the brink of insolvency.

Now, notwithstanding the fact that the EU is not a “United States of Europe,” its economic integration has modeled certain aspects of the US system—though I surmise it was easier to bring together the 13 original American colonies in pursuit of a more perfect union than the current members of the EU, all of which are long-standing, independent countries with distinct cultures and political and economic systems. We Americans still like to talk about the “Spirit of 1776” and the success of the American experiment. History, too, will to be the judge of the European experiment currently underway.

Unfortunately my terrific week in Luxembourg and Brussels had to come to an end, but not without a capstone presentation at the European Commission (EC) headquarters led by Dr. Vinhas de Souza, head of the economics team of the European Policy Strategy Centre at the EC; Jan Vandenberghe, policy coordinator and trade negotiator for EU-US trade relations at the EC; and Christophe Manet, deputy head of division for China, Hong Kong and Taiwan at European External Action Service. I will admit that I did not fully agree with their perspectives on trade negotiations with the US, but it was an incredible opportunity to hear the European perspective, and I was equally impressed by both the passion and conviction of the presenters. In many ways it felt as if I were living in history as these negotiations continue to play out in the global arena.

During my visit I learned much about the EU’s structure, international finance, and what the EU hopes to achieve in the years ahead, and, despite any shortcomings in the EU structure or early blind spots, it has provided for the longest period of peace among EU members, which alone is history.

I soon headed home, recognizing that I was now a much richer person than when I first arrived in Europe.

Martha J. Crawford, Dean, Jack Welch College of Business, SHU

International Business Leader is New WCOB Dean

International Business Leader is New WCOB Dean

Martha J. Crawford, Dean, Jack Welch College of Business, SHU

Martha J. Crawford will be the new dean of the Jack Welch College of Business (WCOB) at Sacred Heart University, effective August 5. She has both a business and academic background, having served as senior vice president of Research & Development for several multinational companies (Air Liquide, Areva and L’Oréal) based in France. In those roles, she fostered technological innovation, sponsoring internal innovators, coaching and helping to develop tech startups with VC partners and creating new startups with innovation partners.

In 2016, after living and working in France for 20 years, Crawford repatriated to the United States to accept a teaching position at the Harvard Business School. Since 2016, she has taught the MBA core-curriculum course, “Leadership and Corporate Accountability,” which covers legal and ethical aspects of corporate responsibility. In addition, she developed a course—“21st-Century Energy”—that was nominated in 2019 for a national prize by the Harvard Business and Environment Initiative.

Crawford is a resident of Cambridge, Mass. She earned her master’s degree in business administration from the Collège des Ingénieurs in Paris in 1998. Prior to that, she received her MS and doctorate degrees in environmental and chemical engineering from Harvard University (School of Engineering and Applied Sciences) in 1994 and 1997 respectively.

Crawford is excited to lead the growing College of Business at Sacred Heart,

I look forward to helping transform West Campus into a regional center of excellence for teaching entrepreneurship and innovation with state-of-the-art teaching and research facilities, co-working space, start-up accelerator and incubator space and joint innovation programs with industrial partners. I also look forward to building or reinforcing academic bridges and degree program with other SHU colleges. This will help prepare students to thrive in an increasingly complex world that requires interdisciplinary knowledge and skills.

Crawford said the creativity and boldness of the SHU senior leaders enticed her away from the Harvard Business School where she has been very happy.

I was impressed with their putting the School of Computer Science and Engineering within the College of Business and acquiring the former GE headquarters to build out an innovation campus that will become an important platform for business growth in the region. During my interviews, I was excited by the sense of mission, energy and the capacity to embrace change. I look forward to working with the team at SHU, and I believe my former C-suite experience managing R&D, intellectual property and innovation partnerships for multi-national companies has given me the skills and network necessary to help the WCOB achieve its goals.

SHU’s mission is also important to Crawford.

My parents taught us that we had to give back to society in proportion to our capacities—that we need to use our resources to create value, reinforce our communities and help make the world a better place. A tour of campus with my daughter (a rising high school junior) and interaction with several students convinced me that SHU is teaching that same philosophy and equipping students to make a positive difference. That resonated with me.

“We are excited to welcome Martha to the SHU community. We believe she is the right person to actualize our vision of integrating business and technology education—something that began with the move of the School of Computer Science & Engineering into the College of Business,” said Rupendra Paliwal, Provost & Vice President for Academic Affairs.

Her expertise in creating value through technical innovation will be critical as we continue to develop an innovation center at West Campus. She is dedicated to providing a transformational learning experience for our students and also contributing to the regional economy.

Rupendra Paliwal, Provost & Vice President for Academic Affairs

The Jack Welch College of Business is named after the legendary former CEO of General Electric, Jack Welch. Its goal is to develop the next generation of leaders, and all activities and programs focus on enhancing student learning. Students work with a dedicated community of scholars and practitioners rooted in the Catholic intellectual traditions, ethics and values with learning taking place both inside and outside of the classroom. Business students participate in learning communities, in-service experience with area non-profits and international exposure through courses at SHU’s Luxembourg and Dingle campuses. The curriculum of the WCOB is to prepare students to achieve their goals, give back to their community and make a difference in global society.

Leading with Integrity

Leading with Integrity

Eros Sharma
Adjunct Instructor of Leadership
Jack Welch College of Business, Sacred Heart University Luxembourg

Imagine you are a financial services firm entitled to charge your clients a certain commission specified in formal bank-client contractual documentation. However, no one in your financial services market charges that commission to clients. Clients can easily leave you for a competitor that charges 0 commissions on all transactions. Hence, it’s just not done or wise to do. However, quarterly commission targets need to be met. As a manager of your financial services firm meeting commission targets implies a substantial bonus in variable pay. Thus the manager applies the commission and gets the bonus. Has this manager led with integrity or acted on the desire to benefit personally?

As an Adjunct Instructor of Leadership at the Jack Welch College of Business in Luxembourg, I teach an MBA course titled “Leading and Influencing with Integrity.” It is our mission to embed integrity onto leaders. Integrity is a personal quality that encompasses behaviors demonstrative of strong ethics, moral principles, and values. As Donald Cressey suggested in 1951, for embezzlement to occur, the following three precursors must be present simultaneously: Perceived pressure from a non-shareable problem, perceived opportunity for trust violation, and finally rationalization which is the justification an individual may use to commit fraud. In its simplest form, if how you rationalize and make decisions is unethical due to your very personal view of what is right, wrong, and acceptable to do, then there is a chance you will exercise fraud or embezzlement leading to lack of leadership integrity. Maybe Carlos Ghosn can tell us how come he thought the Château de Versailles was making a gift of €50,000 to him on his wedding. The Château de Versailles of course had no intention to hand over such a gift and charged Renault directly Mr. Ghosn’s wedding expense. This went unnoticed until Renault investigated.

When we have examples of senior leaders exercising lack of integrity, this may have a direct impact on the behaviors and existence of the entire organization. How do we therefore prepare existing and future leaders to act with more integrity? Lack of leadership integrity leads to lack of trust amongst all stakeholder groups including investors, clients, and employees.

According to the 2018 Edelman Trust Barometer, the US dropped from the “Truster” category of nations in 2017 to the “Distruster” category in 2018 with a 23 point drop. Across NGOs, Business, Government, and Media sectors, trust isn’t being recovered. Out of these four sectors, the Government sector saw the largest decline in trust with a 14 point loss when compared to 2017 results. To make matters worse, the report highlights how 7 in 10 people worry about fake news being used as a weapon. To put it in other terms: “Who you’re going to trust?”  Well, good news, the 2018 Edelman Trust Barometer mentions that CEOs are regaining credibility. Why are CEOs faring better in credibility?

According to a Strategy& PwC report on CEO success and ethics,

Boards of directors, institutional investors, governments and the media are holding chief executive officers to a far higher level of accountability for ethical lapses than in the past. Globally, CEO dismissals for ethical lapses increased from 3.9% of all successions in 2007-2011 to 5.3% in 2012-2016—a 36% increase.

This higher level of dismissals is not as a result of more unethical conduct but directly related to more accountability and oversight. Thus at this stage I ask, what is the future of leadership trust and integrity?
The Future of Trust and Integrity Report from the World Economic Forum clearly lays out a framework to act on the need to enhance trust and integrity. The report details actions to follow at the institutional, behavioral, and technological dimensions.

While new legal requirements at the institutional level can reinforce integrity, knowledge and institutional capacity to implement compliance changes will be important.

At the behavioral level, it is as important to reward compliant behavior as it is to call out bad practices. Think of this one in a country where bribery is normal and you don’t get things done unless you reward the corrupt ecosystem. How do you break this habit? Corporations, regulators, and educators such as universities should clearly lay out what is and isn’t acceptable and the respective consequences. It is as important to highlight cases of leaders following and complying with the rules as it is to call out cases where rules are not being followed. I find this to be a brilliant effort to change behaviors and to break icecaps of corruption.

Finally, e-governance, blockchain, open data, and big data analytics can certainly help with corruption and transparency. By making technology a trusted source of relevant data, corruption will have less of a chance to emerge due to the availability of the same information for all relevant stakeholders.

Leading with integrity is paramount to address the challenges society faces with financial crises, the political landscape, climate change, and societal movements led by younger generations. Jack Welch School of Business in Luxembourg has organized a “Leading with Integrity” conference and panel on March 13 in Luxembourg to discuss how we can lead with integrity in various settings. We are welcoming industry leaders from the private sector, from government, European institutions, international financial institutions, human resources directors, MBA alumni and the larger public to attend.

Registrations are being accepted through the following link containing panelist and logistical information.

Eros Sharma, Adjunct Instructor of Leadership & Management, Jack Welch College of Business SHU Luxembourg
Eros Sharma, M.S.
Human Capital Services Consultant
Ashridge, UK.
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Chamber of Commerce, Centre de Formation
7, rue Alcide de Gasperi, L-2981 Luxembourg




Already feeling the winter blues? Just in time to start planning your summer holidays with SHU!

This summer SHU is giving you the opportunity to…

    • Explore current business issues related to doing business in Asia

    • Visit a number of foreign businesses operating in Beijing and South-East Asia

    • Visit famous cultural attractions on private guided tours in each destination

    • Students can earn academic credit


SHU welcomes all individuals to benefit from our Asian experience. In 2015 we had students, alumni and partners join and we hope to again. Students will have first priority and can take the study-trip as a course for credit (3 CH elective) or non-credit.


First Name *

Last Name *

E-mail *
Phone number *
Address *
City *
Postal Code *
Country *
Nationality *
Company *
Position *








Depart from Luxembourg: Friday, April 5, 2019
Return to Luxembourg: Sunday, April 21, 2019
Destinations: Beijing, China
2019 Asia Trip Total Duration: 16 Days
Estimated Cost*:
*Costs will be determined based on the final number of participants
€3,500 Shared Room
€4,000 Single Room
Breakfast Included
Lunch & Dinner NOT Included



If you’d like to request SHU attempt to arrange a certain type of corporate visit, please contact Alexandra Lewis (


If you’re interested in joining the 2019 Asia Trip, please complete the REGISTRATION FORM or contact Alexandra Lewis ( for more details.


If you choose to confirm your registration now, you will not be committed to the cost of the trip until the deadline has lapsed and we’ve received all registrations. If at that point we do not have enough participants, you will not be bound or required to pay for anything.

The stated cost of €3,500 is APPROXIMATE. The final cost will depend on the number of participants registered, therefore I do not have the power to limit the expense of the trip to 3,500 EUR per person. The costs are determined by the travel company we work with. If there are not 15 participants, then the fees will increase. If that is the case, all registered participants will be notified and given the option to withdraw their participation at no charge.

All registered participants will be asked to pay a €1,000 deposit AFTER November 30 to confirm their participation. Final invoices will be sent out 2-3 months prior to the departure date. The final invoice will include all transportation costs mentioned in the info sheet, visa application processing fees (if any), hotel bookings, breakfast, cultural attractions and tour guides, etc. We ask that each individual’s fees be paid in full prior to our departure.

If the enrollment numbers at below 10 participants, we will most likely be forced to cancel the study trip for this academic year and try again next year.

SHU 27th Graduation Ceremony: Friday, December 14, 2018, 6:00 pm

27th Graduation Ceremony
Sacred Heart University
Jack Welch College of Business
in the Grand Duchy of Luxembourg

Friday, December 14, 2018, 6:00 pm*

Salle Robert Krieps
28, rue Münster
L-2160 Luxembourg

*Ceremony will step off promptly at the designated time. Please plan your arrival accordingly.

SHU invites you to celebrate the achievements of the graduates and thank their spouses, significant others, and families who helped them through the rigorous MBA and graduate professional certificate programs.

Please join us at the 27th Graduation Ceremony of the SHU Jack Welch College of Business in the Grand Duchy of Luxembourg!

We have been proud to have the graduates as our students and we will be proud to welcome them to the SHU Luxembourg Alumni Association.

All guests are invited to join SHU for a walking dinner and holiday reception immediately following the ceremony.



The 2018 Graduation Ceremony is a ticketed event. All guests attending must have a ticket.

Graduates will receive 1 Free Ticket for the 2018 Graduation Ceremony. The graduate does not need a ticket.

You may wish to contact Sacred Heart University Luxembourg for any assistance.




  • Price: €20
  • Admission by ticket only.
  • The 2018 Graduation Ceremony is a ticketed event; all guests attending must have a ticket, including children.
  • Tickets may only be purchased online at or through the ticketing website. Tickets WILL NOT be sold at the graduation ceremony entrance.
  • Graduates will receive 1 Free Ticket for the 2018 Graduation Ceremony. The graduate does not need a ticket.
    Graduates can only claim their 1 Free Ticket or purchase additional tickets online at or through the ticketing website. There are no ticket pick-up sites available.
  • There is NO LIMIT to the number of guest tickets a graduate may purchase.
  • Ticket sales are on a first-come-first-serve basis. Please note that last year’s graduation was filled to capacity, so please purchase your tickets early to guarantee a seat.
  • The deadline to purchase tickets for the 2018 Graduation Ceremony is Monday, November 26.
  • Tickets include admission the 2018 Graduation Ceremony, a free program, and admission to the celebratory Walking Dinner & Holiday Reception hosted by SHU in honor of the Graduating Class of 2018. The Walking Dinner & Holiday Reception will take place immediately following the ceremony at Neimënster, The Cloister.
  • Upon receipt of payment, your e-ticket will be emailed.
  • Please print your e-ticket from the order confirmation email or pull it up in the Eventbrite app on your mobile device to make sure you’re ready to attend. Your QR-Code will be scanned. The QR-code is allowing only one entry per scan.
  • All ticket sales are non-refundable.

  • Ceremony doors open at 5:00 pm (17h00) for guest seating.
  • Please be ready to show your e-ticket at the door. You must present a ticket in order to be admitted. Your QR-Code will be scanned. The QR-code allows only one entry per scan.
  • Please arrive on time. Late arrivals are disruptive to other guests and to the graduates.
  • There will be a high volume of traffic, so please arrive early to allow plenty of time to find a parking spot.
  • Guests are not permitted in the graduate dressing area.
  • All guests must enter through the FRONT entrance of the Salle Robert Krieps.

  • There is no assigned seating at the ceremony and spaces will not be held or reserved by the school for larger parties.
    Open seating is available on a first-come, first-served basis.
  • Saving seats in the Salle Robert Krieps auditorium is allowed up to 15 minutes prior to the start of the ceremony.
  • Strollers are not permitted in the auditorium. A stroller check is available in the lobby.
  • There will be a high volume of traffic, so please arrive early to allow plenty of time to find a parking spot.
  • Guests are not permitted in the graduate dressing area.
  • Please silence cell phones.
  • Guests are not permitted to sit in the first two rows (Row 1 & Row 2) of the auditorium; these seats are reserved for graduates.
  • Guests are not permitted on the auditorium stage; it is reserved for regents and processing faculty only.

  • For information concerning guests with special needs and accessibility at Neimënster, Salle Robert Krieps, please contact or by Friday, November 30. The University will attempt to provide and arrange appropriate seating.
  • Special needs seating is available on a first-come, first-served basis. Due to this area’s limited seating, all other members of the party must sit separately in general seating. Please arrive early to ensure availability of special needs seating and please contact or by Friday, November 30.

  • A professional photographer will be taking a candid photograph of all graduates during a special moment of recognition. One or two more photos will be taken during the ceremony and reception in addition to the candid handshake photograph.
  • Graduates will take a group photo on stage IMMEDIATELY AFTER THE CEREMONY. Please DO NOT greet your graduate until after the group photo.
  • Graduates will receive a free access code to a gallery with ALL event photos via email within 1-2 weeks after the ceremony. Graduates and guests may download all photos, free of charge, for up to 1 month after receiving the free access code via email.
  • Graduates and guests are encouraged to take your own photographs within the Salle Robert Krieps auditorium. However, we would kindly ask that guests do not move around the auditorium during the ceremony.
  • Participants are hereby informed that they are likely to appear on photographs taken at the event. These are intended to be published in print and/or digital media published by Sacred Heart University Luxembourg and/or our event partners.

  • Your ticket includes admission to the celebratory Walking Dinner & Holiday Reception hosted by SHU in honor of the Graduating Class of 2018.
  • The Walking Dinner & Holiday Reception will take place immediately following the ceremony at Neimënster, The Cloister. The Cloister is located across the courtyard from the Salle Robert Krieps at the Neimënster.

    The Lucien Wercollier Cloister – Walking Dinner/Holiday Reception – 7:30 pm
  • The Walking Dinner & Holiday reception will be a cocktail setting, not a seated dinner.

  • Parking is not available at the Neimënster.
  • It is recommended that the upper city parking lots be used (Saint-Esprit) or the parking lot of the “Brasserie” of Rives de Clausen*.

    Parking Map

    *The path/gateway/bridge from the parking lot of the “Brasserie” of Rives de Clausen to the Neimënster Abbaye is open! This path ends at the Salle Robert Krieps Auditorium entrance.

  • If you can no longer make it to this event, please send your regrets byFriday, November 30to or
  • All ticket sales are non-refundable.

Cap and Gown Information:

  • Cap, gown and hood are provided free of charge for each graduate participating in the ceremony. Graduates must order their graduation reglia via email to the SHU Luxembourg Office Manager by October 1, 2018. The cap, gown, and hood are the graduates to keep.
  • Graduation regalia collection dates and times will be announced to graduates via SHU email. An email from the graduate will be required for someone else to pick up your cap and gown.
    REMINDER: All tuition fees must be paid in full in order to be eligible for participation in the graduation ceremony for Sacred Heart University’s Welch MBA program. If you have questions concerning your student account balance, please contact Administrative Director, Antoine Rech, ASAP.
  • Graduates are responsible for bringing your cap, gown and hood to the ceremony.
  • NOTE: The gown has creases and needs to be hung to let them out (for at least 2 days). The material is very sensitive, so please be careful.The best way to remove the wrinkles is to steam your robe.Quick Tip: If you do not have a steamer, turn on the hot water in your shower. Hang your gown in the bathroom for 10 to 15 minutes. The steam from the shower will act as a wrinkle remover.Quick Tip: Ironing is not recommended but if you choose to iron your robe:
    Place a towel between the hot iron and the gown at all times and be careful not to focus too much time on the same spot.
  • New for 2018 Sacred Heart University cap and gowns will be “Going Green”. The new cap and gowns from Herff Jones are made from Renew fabric. Renew is known for being the best keeper gown green offering in the industry. One Renew CustomKeeper gown saves 29 bottles from the landfill – the highest industry standard for green gowns. The Sacred Heart official seal will be embroidered on upper left chest and school colors are added to the gown to follow SHU branding.Cap and Gown Information:


  • The tassel for your graduation cap will be distributed to you on the afternoon of the ceremony at the Salle Robert Krieps (tassel starts the ceremony on the right) and is also yours to keep.


  • As graduation is a memorable event in your life and will be preserved in numerous photographs, it is recommended that, beneath the gown, graduates wear appropriate attire and footwear.Quick Tip: If you wear a button down shirt it will give you a place to pin your hood to in the front.
  • Please do not bring handbags or other personal items that will not/cannot fit in your pocket, as there is no way to secure the graduate dressing area/line-up room during the ceremony. There will be a place to hang your coat in the dressing area, but nothing more. The dressing area will not be locked.

Graduate Arrival Time: 4:30 pm (16h30)

  • All graduates, faculty and regents participating in the ceremony are requested to meet in the downstairs bar area of the Salle Robert Krieps at the Neimënster between 16h30 and 17h00 on December 14 to review actions and events during the ceremony.

Graduate Arrival Directions:

  • Graduates use the side entrance of the Salle Robert Krieps, facing the main courtyard to enter directly into the downstairs bar area. Signs will be posted at the Neimënster instructing you where to go. Please review the Abbaye Graphic below.
  • Parking is not available at the Neimënster. It is recommended that the upper city parking lots be used (Saint-Esprit) or the parking lot of the “Brasserie” of Rives de Clausen. For a parking map, visit:

Graduate Dressing/Line-Up Room

  • The graduate dressing room is located in the downstairs bar area of the Salle Robert Krieps at the Neimënster
  • Assistants will be present to assist participants with your attire and your appropriate place in the processional.

Graduate Line-Up Time: 5:30 pm (17h30)

  • Graduates will begin lining up in the processional order between 17h30 and 17h40.

Ceremony Start Time: 6:00 pm (18h00)

  • Graduates will start walking from the dressing area to the ceremony entrance at 17h55.
  • The graduation ceremony and processional will begin at 18h00 sharp.


Commencement Exercises:
6:00 pm*
Salle Robert Krieps
*Ceremony will step off promptly at 6:00 pm.
Please plan your arrival accordingly.

Walking Dinner & Holiday Reception:
7:30 pm
The Cloister


Purchase tickets by Monday, Nov. 26, 2018
Registration is mandatory.
The 2018 Graduation Ceremony is a ticketed event. All guests attending must have a ticket.

Parking is not available at the Neimënster.
It is recommended that the upper city
parking lots be used (Saint-Esprit) or
the parking lot of the “Brasserie” of
Rives de Clausen*.

Parking Map

*The path/gateway/bridge from the parking lot of the “Brasserie” of Rives de Clausen to the Neimënster Abbaye is open!
This path ends at the Salle Robert Krieps Auditorium entrance.