University of North Carolina, Kenan-Flagler Business School

A new building is symbolic. It reflects fresh start and greater capabilities. For students and alumni, that building is a break from the past, a sign that bigger things are on the horizon.

With the opening of the Steven D. Bell Hall in January, the University of North Carolina’s Kenan-Flagler Business School has ushered in a new era. Picture nearly 150,000 new square feet dedicated to 16 state-of-the-art classrooms and 39 spacious study rooms. For recruiters, there are 27 interview suites and a lounge. That doesn’t count scenic terraces, bold artwork, and even a reflections pond. Most important, there are two new levels for parking too!

“Bell Hall’s four levels will double the available space for learning and student life,” observes Michael Stepanek, Associate Dean of MBA Programs, in a 2025 interview with Poets&Quants. “Our students will benefit from innovative classrooms equipped with advanced technology. The building design will foster collaboration, creativity and real-world problem solving. Collaborative spaces encourage teamwork, networking and engagement with classmates, faculty, staff, and industry leaders.”

RENOVATING THE EXISTING BUILDING, TOO

The building will also bring together many of Kenan-Flagler’s students: undergraduate Business majors and minors, Full-Time and Executive MBAs, and Master of Accounting and Master of Science in Management students. The increased space will also enable the school to double the size of its undergraduate population. Even more, the building was designed with sustainability in mind. Stepanek notes that Bell Hall is the first campus building to address the larger university’s Three Zeros Initiative: “net-zero water, zero waste to landfills, and net-zero greenhouse gas emissions.”

That’s not to say that the McColl Building – Kenan-Flagler’s home for the past 30 years – has been pushed to the wayside. Instead, the school is rolling out an ambitious renovation project to align McColl with Bell Hall. This includes refurbishing 15 classrooms to make them functional in both in-class and online environments. McColl will also offer 22 new study rooms and a seminar room, along with adding student lounges and faculty offices. And the Koury Auditorium will now include a permanent stage.

“Bell Hall’s design standards be applied when we renovate McColl Building (our current home), Stepanek continues, creating a cohesive and expanded campus that supports exceptional learning, collaboration and community engagement.”

A FRESH TAKE ON MBA CURRICULUM

The Kenan-Flagler MBA isn’t just gussying up their surroundings. Alongside the opening of Bell Hall, school leadership has also been busy reimagining the Full-Time MBA program, with the curriculum redesign set to roll out during the 2026-2027 school year. Stepanek frames it as “fully integrated journey from application to graduation,” with a focus on providing greater support during the MBA experience and higher career success after graduation.

“Students will experience a more coherent pathway, with structured career tracks in fields like consulting, energy, healthcare, corporate finance, investment management, marketing and real estate,” Stepanek continues. “These tracks are designed to build industry-relevant skills through sequenced courses, new experiential coursework, and exposure to cutting-edge research and technology. These program enhancements mean students will increasingly work with real data from real firms, gaining hands-on experience that directly translates to the challenges they’ll face after graduation. Additionally, research and industry seminars will connect students with thought leaders and practitioners, giving them access to knowledge and networks that set them apart in the job market.”

In other words, the Kenan-Flagler MBA will move towards a more outcomes-driven model. It is one that is “more flexible and tailored,” Stepanek points out. In other words, both core courses and electives will be more geared to each student’s career goals and chosen industry. Bottom line: Kenan-Flagler is ceding more control of the academic experience over to MBA students. And these changes will extend far beyond the classroom,” says Stepanek.

“Essential career-skills courses, expanded internship preparation, and updated data science sequences will ensure students are well-prepared for interviews and professional challenges. Industry councils will foster transformative networks, connecting students with alumni and employers and ensuring that both curricular and co-curricular activities remain relevant and impactful.”

TURNING STUDENTS INTO ‘STAR’ LEADERS

All of this will be built on an already-strong foundation. Home to over 3,100 business students and 140 faculty members – not to mention nearly 45,000 alumni across nearly 100 countries – Kenan-Flagler boasts both Top 10 Undergraduate Business and Top 10 Online MBA programs. In fact, the MBA@UNC online MBA program was among the first of its kind when it launched in 2011. And Kenan-Flagler continues to innovate, adding a Master’s in Management degree in 2025 along with recent additions of concentrations in Technology Innovation and Product Management.

These are areas that feed into each other across the program. Academically, when U.S. News & World Report surveyed MBA administrators and faculty, for example, Kenan-Flagler ranked among the best dozen schools in both Real Estate and Accounting. In many ways, however, the Kenan-Flagler MBA is synonymous with Leadership. That starts with the STAR program. An acronym for Student Teams Achieving Results, STAR is a 20-year tradition at Kenan Flagler that mixes a corporate-style executive development program with an experiential learning consulting project. Here, six-member teams tackle a business challenge from host companies as different as Hershey, NASCAR, and Procter & Gamble. In one project with Nike, as legend goes, Phil Knight personally sat through one STAR team’s presentation.

“It’s safe to say no other school does anything like it: strong infrastructure, teaching consulting framework and skills, MBA and Undergraduate Business students working together on projects, and a faculty advisor for every team,” explains Brad Staats, Senior Associate Dean, in an interview with P&Q. “Students develop skills they will use in their careers, whether or not they chose consulting: leadership, problem solving, teamwork, [and] gathering and analyzing data.”

THE CAROLINA WAY

Another Kenan-Flagler advantage is geography. Together with Durham and Raleigh, Chapel Hill forms the triangle – a center for academic research, technological innovation, healthcare excellence, and startup prowess. Notably, Kenan-Flagler is just a 25-minute drive down I-40 to Research Triangle Park (RTP). Covering 7,000 acres, the campus is the country’s largest research park, a concentration of science and technology firms, financial institutions, and startups. Employing over 55,000 professionals, RTP features over 300 employers ranging from IBM to GlaxoSmithKline to Fidelity Investments – producing over $25-billion in annual regional economic impact in the process. More than that, it provides opportunities for Kenan-Flagler students such as internships, class projects, and even business partnerships. And RTP is just part of the package, says Michael Stepanek.

“Just a few hours drive away is Charlotte, the second-largest banking center in the U.S., after New York. CNBC again named North Carolina the No. 1 state for business in 2025, and the Triangle region routinely ranks among the best places to live and best places for careers. Our students benefit from that access to these innovative business hubs, including for summer internships, alumni connections and deep industry engagement.”

In a 2025 student and alumni survey conducted by the Princeton Review, Kenan-Flagler posted Top 10 marks for its Classroom Experience and Campus Environment. Some of this popularity is rooted in the spirit around the university, popularly known as the “Carolina Way.” The phrase was coined by Dean Smith, a former basketball coach who collected 879 wins and 2 National Championships during 36 years at the schools. Smith defined the Carolina Way as doing whatever is in the best interests of the team: playing hard, selfless, and smart while being respectful to fans and opponents alike. At Kenan-Flagler, this is translated into a popular saying: the school wants “dolphins not sharks” – curious and collaborative problem-solvers with a playful love for life.

For Michael Stepanek, these qualities – as much as a new building, revamped curriculum, or local opportunities – make Kenan-Flagler a program that’s heading places. “At the end of the day, what makes UNC Kenan-Flagler special is the people – bright, driven, humble –and the culture we’ve built together. Students lift each other up, and our culture makes them stronger leaders and even better teammates out in the world.”

Next Page: University of California at Berkeley, Haas School of Business

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