September, 2009

Alumni Mentoring

Wednesday, September 30th, 2009

Life as a college student can be fraught with uncertainty about the future. And who better to understand the angst of a student than a former one?

AlumniMentoring

It was that empathy with the mental mindset of the undergrad that prompted two former Foster students to launch a mentoring program.

“A student’s life is so brittle,” Nishika de Rosairo says. “They are at the point where even the most confident harbor insecurities about their careers and life in general. But having a mentor to aspire to, or who can just help guide them through that process, is an incredible advantage.”

With this in mind, de Rosairo and Anne Sackville-West (BA 2002) launched a mentorship program in 2006 for undergraduate students working toward the Certificate of International Studies in Business (CISB). Anne has since moved away, and now Brian Wright helps Nishika run the program.

The program matches students with a young professional, someone who can still recall what it’s like to be an undergrad. “Most mentors have graduated within the past one to seven years so they’re more connected to what it’s like to be a student and enter the corporate world–a world quite different from what the students know,” says Nishika.

Each mentor takes a student under his or her wing for a year, providing counsel on career and life development. The benefits for the student are obvious: confidence, information, support, insight and more. And the mentor benefits too.

Mentoring improves leadership skills, and “today’s business world is demanding leaders who are well rounded and equipped to develop our talent of the future,” says Nishika.

Mentors also learn important skills such as effective listening and questioning, and how to provide constructive feedback. “For a lot of us, the hardest thing is to learn how to manage and develop people. Mentoring gives us an opportunity to improve our people management skills,” says Margaret.

Mentoring also keeps alumni connected to Foster, a prestigious business school. It provides an opportunity to network with other young professionals with similar interests. And mentoring is a fulfilling way to give back to Foster, to help nurture the next generation of business leaders while nurturing one’s own career development.  For more information, contact CISB at cisb@uw.edu.

Luxury brands are here to stay

Tuesday, September 29th, 2009

Guest post by Gary Shansby, Foster alumnus (BA 1959)

There has been a lot of talk these past several months about whether luxury brands will survive the recession, and whether “premiumization” is dead. Contrary to what the pundits, consultants and bankers may be saying, I believe certain niche premium brands are not only surviving the recession but actually creating inroads and growing in this down economy.

I have spent the past 50 years building luxury and premium consumer brands such as Famous Amos Cookies, Mauna Loa Macadamias, Shaklee Nutritional Products, Terra Chips, Voss Water, Pureology Hair Care Products and my latest brand venture, Partida Tequila.

While I’ve never experienced economic conditions of the current level, I have been through numerous market and economic roller coasters and I can say from years of experience that the biggest mistake a luxury brand marketer can make in an economic downturn is to abandon the premium brand positioning and begin price promotions and discounting. This will provide short-term sales relief but ultimately doom the brand—once you break a price, there’s no going back up market.

America has become an investment nation focused on the here and now, and on short-term (quarter-to-quarter) results. Public company CEOs and management teams are unrealistically forced to deal with stock prices, temporary or current trends, and demands built by financial institutions. We know how weak many of those institutions have become.

As a former CEO of a Fortune 500 company, an investor and a proud entrepreneur, I do not believe “premiumization” is dead. Marketers must learn that the growth path to success is not a straight line, and variances occur along the journey of life. Consumers are becoming more and more interested and knowledgeable about what they purchase and especially about what they put in their bodies. I believe premium brands will resume the upward momentum once the economic downswing lightens, and consumer confidence comes back.

I believe that brands that discount, offer lower “deals,” and change their direction for temporary gain will succumb to a form of suicide. Brand equity is all important along with the highest quality products that can be made.

Only time will tell… but my bet is on future growth for truly great premium brands.

Gary Shansby is founder, chairman and CEO of Partida Tequila, LLC and on the advisory board of the UW Foster School of Business.

What do you think? Will premium or luxury brands survive the down economy?

Foster MBAs collaborate from the start

Tuesday, September 22nd, 2009

The first week of fall 2009 brings a new crop of Foster School full-time MBA students to the UW Seattle campus for orientation, leadership preparation and collaboration with “veteran” 2nd-year MBAs. Here’s a taste of what new full-time Foster MBAs are experiencing during the intensive LEAD week.

“Teams are a central part of the Foster MBA Program. During the first year nearly every class requires you to complete work with your core team of 5 or 6 students, whether it’s a research paper, a presentation or both. Foster’s Leadership Fellows program matches a 2nd year student with a 1st year team to provide support and guidance. As 2nd year students, by now we’ve all learned a thing or two, from tools for facilitating a brainstorming session to the secret for cheap parking on campus.”

- Jessica Didion, current Foster MBA 2nd-year student

Read more about the Foster MBA student experience on Inside the Foster MBA blog.

Foster undergrads study in China

Tuesday, September 22nd, 2009

Great Wall of ChinaWhile UW Foster School faculty met with businesses and toured China last week, Foster undergraduate students are studying in China this fall, on one of many undergrad study or work abroad trips. Foster students’ first impressions and experiences in China?

Great Wall of China toboggan descent
“…the view was amazing and we really felt chills being able to say that we had climbed the Great Wall. However, what really made the experience great was the way down. …we chose to toboggan and it was probably the most exhilarating thing we did in Beijing.” – Alan

Lesson on local study habits
“Even though this is not my first time here, I am still very excited to be a student at Peking University, the best university in China. Many of my classmates are exchange students from all around the world, but surprisingly about 80% of them are from Europe. I was expecting more exchange students to be from the US, but there is only a handful.

“I also made friends with local Chinese students. During the break in the evening’s Operation Management class, I had a conversation with a local student who sat behind me. I asked him about the typical life of a typical Peking University student. Some of the students can study 14 hours straight per day! To deal with this study-mania, the school completely turns off the electricity in the dormitory at 11pm.” – Daniel

Find more Foster undergraduate international adventures on the Undergrads Go Global blog.

UW Seattle campus gets rave, green reviews

Tuesday, September 22nd, 2009

uw-seattle-campusUniversity of Washington’s Seattle campus, home to the Foster School of Business, keeps getting greener and was recently noticed for its efforts. Recent UW honors:

  • Sierra Club ranked UW Seattle campus 2nd in their 2009 cool school ranking for “most eco-enlightened U.S. universities.”
  • UW Seattle made the The Princeton Review green honor roll – a rave review for the UW’s energy conservation, green building and other practices.

Software and hutongs and buses, oh my

Friday, September 18th, 2009

IMG_0178Today was a really packed, informative day.  We started out with a presentation by Francis Zhang and Johnson Chen of F5 Networks, a company that has found significant success in the Chinese market by entering relatively early (2001) and being patient and consistent.  We then hopped on our bus with our guide Elaine and visited the new U.S. Embassy in Beijing, a large and impressive compound designed by a world-reknowned architect and filled with incredible works of art.  We spoke with press officers, commercial officers, and economic officers; the sheer complexity of the environment in which they are operating was eye-opening.  As we toured around the lobby area to see the art collection, we passed by Jon Huntsman, the new U.S. ambassador to China, who just came to Beijing in August.

After an enormous lunch at a Belgian restaurant called Morel’s, we visited Microsoft’s new offices just northeast of the city center.   Mr. Fengming Liu, a UW Law alum, gave us an illuminating presentation on their intellectual property challenges since entering China in 1992.  For example, Windows 7 is set to launch in late October of this year, and they have already found versions of the software online, as well as the security key (removed now, so no need to go looking for it, you pirate).  The sheer size of the Chinese market is difficult to imagine, but we’re definitely getting a better idea after hearing from these companies and organizations.  (An additional special guest at the meeting was Felix Liu, just about to start his senior year at the Foster School of Business; it seems like everywhere we go, more Huskies appear).

After the MS visit, Elaine took us to the lovely Houhai Lake area, which is surrounded with “hutongs,” narrow traditional alleyways with low multi-family houses surrounding small courtyards.  We took a rickshaw tour of the area, and had the opportunity to visit a hutong compound that is currently occupied by 26 members of the same family, five brothers and their wives and children (one per family). 

After all this activity, we were hungry and ready to explore the Wangfujing area and try some Beijing street food.  We struck out on foot only to find that, due to the rehearsal for the 60th Anniversary celebrations, all the streets were closed off and filled with military equipment and buses full of children in matching dance costumes.  Huge military vehicles rumbled by with what appeared to be large missiles draped in canvas, and a nearly endless line of buses headed towards  Tian’anmen Square.  Every store and restaurant on the street was closed and will remain so all night.  After a bit of exploring, we found a restaurant (all on our own, without Elaine or Ming, who speaks Mandarin), and enjoyed a wonderful meal for about $5 each.

The working portion of the trip has come to an end.  We’ve learned a lot, and we’ll surely be processing it for some time to come.  Tomorrow, we will visit the Great Wall, and since I scheduled nearly no time at all for shopping, hit some markets in the afternoon.  It’s supposed to be rainy, but hey, we’re from Seattle.  After a farewell dinner together, we’ll be off on our various flights home on Sunday, after what I believe to be a successful pilot faculty study trip.

Posted by Krista Peterson, Associate Director, Global Business Center

Faculty tour Boeing plant in Tianjin

Thursday, September 17th, 2009

DSCN1348

 

The Foster School of Business faculty group was hosted at Boeing Tianjin Composities Co., Ltd., in Tianjin. In addition to a fascinating presentation by rabid Husky fan and General Manager Ian Chang, we also thought the high-speed train ride topping out at 330km/hour was pretty cool.

Fashion forward in Shanghai

Wednesday, September 16th, 2009
Foster School alumni James Li organized a visit to the Ingersoll-Rand air compressor plant for us, complete with industrial footgear for the ladies.  From left to right, Jennifer Koski, Krista Peterson, Jane Reynolds, and one of our IR hosts, Grace.

Foster School alumni James Li organized a visit to the Ingersoll-Rand air compressor plant for us, complete with industrial footgear for the ladies. From left to right, Jennifer Koski, Krista Peterson, Jane Reynolds, and one of our IR hosts, Grace.

New China turns 60

Wednesday, September 16th, 2009

DSCN1268Yesterday, we walked across a Tian’anmen Square that was bustling with preparations for New China’s 60th anniversary celebration, just over a week away.  On October 1, the Square will fill with military, government, and citizenry to recognize this auspicious occasion, complete with an address by President Hu.  Huge video screens are being erected, bleachers established for VIP viewing of the celebrations, and huge red painted columns installed on both the east and west sides.  As Beijing pulled out all the stops for the 2008 Summer Olympics, the mood in the Square suggests a similar energy is being given to celebrate China’s progress since 1949.  Now that we’ve seen what’s being done to prepare, we’ll have to tune in on TV or online on September 30 to see the result of all this effort.

Posted by Krista Peterson, Associate Director, Global Business Center

I don’t know what it is, but it’s really good

Wednesday, September 16th, 2009
And this is just the appetizer course!
And this is just the appetizer course!

Speaking for myself, as an amateur foodie of sorts, I came to China with a pretty good idea that my idea of “Chinese food” was quite limited.  Fortunate as we are in Seattle to have a wealth of options in regard to international fare, I can now quite confidently say that we are missing out.  It’s cliché, but true:  to better grasp the breadth and variety of Chinese cuisine, you’re going to have to visit China yourself.

Given the short duration of our visit, we have not been able to follow Anthony Bourdain’s footsteps down any back alleys or deep into a market to try what is surely delectable street food.  However, we have had the good fortune of excellent guides Jennifer (Shanghai) and Elaine (Beijing), who have directed us to an assortment of very satisfying restaurants, as well as an outstanding banquet I mentioned before that was hosted by our partners at Shanghai Jiao Tong University.

It was not a requirement to join the study trip, but everyone in the group is a pretty adventurous eater.  Sitting at a large round table over lunch or dinner, chopsticks in hand, curious questions pepper the conversation:  Is it a kind of potato? What is in that sauce? Is that fish?  Things are familiar in texture or taste, but we can’t quite identify them.  Ming and our guide taste, discuss, and don’t have an English equivalent for this vegetable or that seasoning.  Though there is always too much food, everyone tries just about everything on the table, passing one another the dishes identified as favorites:  “try this, it might be jicama or a yam”, “no, that’s not beef, I think it’s eggplant,” “these shrimp are so tender, who’s going to eat the last one?” 

We have an opportunity to strike out on our own for dinner tonight.  I’m not sure what we’ll find, but I’m sure it will be delicious!

Side note:  the faculty members on this trip are more than willing to submit blog entries, but we didn’t allow for a lot of free time in our daily schedules, and most of us are nearly asleep in our soup at the end of our long days.  I hope they will be able to contribute their thoughts once we get back to Seattle. 

Posted by Krista Peterson, Associate Director, Global Business Center