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Tennessee Wesleyan University announces Goodfriend School of Business

Tennessee Wesleyan University is proud to announce the official naming of the Goodfriend School of Business. The naming was announced March 14 during the annual Dr. Morris D. Goodfriend Annual Lecture Series, where the featured speaker was Robert M. “Bob” Goodfriend. The Goodfriend School of Business is named in honor of Bob and Wendy Goodfriend, who recently pledged $2 million to the school.

“We are indebted to the Goodfriend family for their transformative pledge of $2 million to the school of business we announced this summer,” TWU President Harley Knowles said. “This gift will allow TWU to move the school of business to a new level of excellence. In recognition of the tremendous generosity of the Goodfriend family, we are announcing today that the TWU School of Business will forever bear the Goodfriend family name and be forever known as the Goodfriend School of Business.”

In addition to the recognition of the naming of the Goodfriend School of Business, the event featured TWU’s annual lecture on business ethics. Goodfriend spoke about his experience running the Goody’s department store chain and the ethical decisions and dilemmas he faced.

“You’ve got to take care of your employees because it’s the ethical thing to do,” Goodfriend said. “You have no business without them.”

Goodfriend shared several stories of ethical decisions he made involving Goody’s and his employees. As he discussed situations he faced, he explained the importance of ethical decision making and considering all parties involved in the decision-making process. He talked about Goody’s pricing strategies and changing the way they set prices and sales to make it easier for customers to understand.

“When we had our ad meetings, we always talked about how the consumer was going to be affected, and not only how the consumer was going to be affected but also how do our employees understand what we’re doing,” Goodfriend said. “We changed the way we were doing business because it was not the ethical way to do it.”

After providing several examples of ethical decisions he made in business, Goodfriend closed by talking briefly about his family’s decision to contribute to TWU and the school of business.

“We decided a long time ago that the best way to give money away was to give back to the next generation and the generation that’s coming up now,” Goodfriend said. “Education is important. I’ve found a new home at Tennessee Wesleyan University. Wendy and I and our family are excited about the expectations and the growth of this fine university.”

 

The Life of Bob Goodfriend from Gil Balch on Vimeo.