Achieving the American dream

Exequiel Soltero, owner of Maya's (gentleman in orange shirt), stands with his UW BEDC Student Consulting group.
Exequiel Soltero, owner of Maya’s (front row, third from left), stands with his UW BEDC Student Consulting group and advisors.

Exequiel Soltero arrived in the U.S. from his small hometown on the southwestern border of Mexico determined to pursue the “American Dream” via the traditional culinary delights of his native Mexico.

A positive mindset, entrepreneurial spirit, and desire to provide for his family aided Exequiel to labor through the restaurant industry, beginning as a dishwasher and progressing to a waiter. By 1979 Exequiel had accumulated enough savings to open his own restaurant devoted to Mexican cuisine, Maya’s Family Mexican Restaurant in Seattle’s Rainier Valley neighborhood. Staying true to the restaurant’s name, and Exequiel’s initial motivations for opening a restaurant, each and every one of his siblings—nine sisters and three brothers—spent time working together to build a strong foundation for Maya’s.

Nearly 35 years later, Exequiel’s authentic recipes have lured a solid following, and allowed him to expand well beyond the original 850-square-foot restaurant. Maya’s brand now includes a full-service Mexican restaurant and a growing catering service.

As the trend of mobile food trucks is continuing to grow, Maya’s has launched a fleet of food trucks that will soon be located next to Seattle’s CenturyLink Field during Seahawks and Sounders FC games, as well as on Microsoft’s Redmond campus during weekday lunch hours. With growth, however, comes new challenges and Exequiel realized that success of Maya’s new division-based business hinged on seeking outside guidance.

Exequiel, who has been a long-time friend and partner of the Business & Economic Development Center (BEDC), turned to the BEDC’s to participate in our Student Consulting Program to help him reach his business goals:  “I was motivated to participate with the BEDC Student Consulting Program because I was interested in growing my business, and what better way to grow my business than to get the input from business students, teachers, mentors and advisors.”

The BEDC’s Student Consulting Program improves management and marketing skills of small business in under-served communities with the aid of teams comprised of of business students and faculty of the UW Foster School of Business, Foster alumni, and mentors drawn from the Seattle Rotary Club. Exequiel explained what he was hoping to gain from his participation with the Student Consulting Program:

 “I was hoping to receive a different perspective from my own. I have several ideas and visions for the restaurant and catering department, but I felt I needed to get the opinion from someone who has valuable input that could help change the way I do business.”

Through the Student Consulting Program, Exequiel, along with 14 other business owners, was provided advice from his student consulting team on how to strategically grow all divisions of Maya’s, including specially-tailored marketing strategies and financial/managerial guidance.

Now, as Exequiel’s interaction with his student consulting group concludes and he begins the process of actualizing the plans and goals presented with the continuing support of his BEDC mentors and advisors, he has great hope for his company’s future:

“I feel very positive about the future of my business, especially with all the recommendations the student team had to offer at the presentation [of their findings]. I learned the importance of sending out thank you notes to all catering customers upon completion of their event, [the value of] up-selling, tips to get my food cost and labor back to a respectable percentage, and that having someone managing our social media outlets would dramatically help with sales and customer retention.”

If you are business interested in being a part of the 2013-2014 Student Consulting Program, or if you have any questions about the Program, please contact Wil Tutol at wtutol@uw.edu.

MBA study tour: reflections on Shanghai

Post by Jess Rush, Global Business Center Assistant Director of MBA Global Programs

IMG_6078 (2)Twenty three million. It’s hard to fathom the reality of that number. It is almost the population of the state of Texas. It is the population of the CITY of Shanghai, China. Nearly twenty five hundred square miles. It is both the area of the state of Delaware and the city of Shanghai. It’s daunting to think that this is just one city (and it’s not the biggest) in a country that is on the fast track to overtaking the US as the world’s biggest economy. Some studies indicate that we are less than twenty years from that happening. For the past twenty years, Shanghai has been growing, no, exploding. (Check out the photos here for some visual context: http://www.theatlantic.com/business/archive/2012/05/shanghai-can-the-fastest-growing-city-in-the-world-keep-it-up/257021/)

It is in Shanghai that the 2013 MBA Study Tour to China took off for a two week exploration of the culture and business of China. Shanghai provides a wonderful introduction to China. It eases one in with fairly clear skies and clean, safe streets. While it’s not as challenging as other cities, don’t be fooled. It’s still a real challenge to take a taxi to the Bund without it written in Mandarin. Just ask a few of us who tried!

While in Shanghai, the Study Tour visited a variety of companies including AGCO, Siemens Healthcare, SKF, Trina Solar and Kleiner Perkins Caufield Byers. Two particularly interesting meetings were with an ex-pat, “C-level” recruiter who left Pittsburg for Shanghai when the US economy took its downturn and with a UW alumnus who created a tech start up and is developing new social networking applications for an increasingly connected Chinese youth.  The MBA students, faculty and staff were treated to a wide array of industries and approaches to doing business both in China and around the globe. We were also treated to a typical Chinese lunch meeting. Over plates and plates of delicious food and steaming cups of tea, we talked hiring tendencies, the importance of human resources in multinational companies and creating community while living abroad.

Part of my experience in Shanghai also included a visit to one of our exchange partner schools-the Shanghai Advanced Institute of Finance (SAIF). While it also involved being treated to an amazing lunch spread, it was more importantly and opportunity to connect with colleagues and learn more about each other’s programs. SAIF is a relatively new program in a beautiful new building and in a fantastic part of the city near Shanghai Jiao Tong University. Students interested in studying finance could really benefit from spending a term there.

I expected Shanghai to be an interesting learning experience. I did not expect to be so charmed by the city. From exploring Tianzifang and Xitiandi in the French Concession to an adventure under the river to Pudong and up the Oriental Pearl Tower to see the night lights, the city gripped me. Making our classroom the boardrooms, restaurants, streets and taxis of Shanghai expanded the minds and perspectives of students and faculty/staff alike. There is no experience that can substitute for taking one’s learning global, especially given the future of the world’s economy. In our lifetime, the US will be sharing the stage more and more. Our best prepared leaders will be able to sit at that lunch meeting and make deals while serving themselves with chopsticks.

GBCC 2013: champions analyze wine industry case

Winning Team, Concordia University
GBCC Champions, Concordia University

Saturday April 13th was an eventful day.  The Global Business Center hosted its 15th annual undergraduate Global Business Case Competition – where twelve teams representing ten different countries competed for the title of Champion.

Each of the GBCC teams spent 48 hours analyzing a business case on Frog’s Leap Winery, which is known for its commitment to sustainability.  The winery produces high quality wines using organically-grown grapes and was a leader in adopting an environmental management system for production. The teams, who are outside consultants, were asked to make recommendations in three areas:   (1) the next sustainability initiative that Frog’s Leap should undertake, (2) identification of two potential markets outside the US, and (3) marketing plans for those new markets.

After a competitive preliminary round, four teams were selected to move on to the final round: Concordia University, National University of Singapore, University of Arizona, and University of Hong Kong.  With over 100 people in attendance, the final round presentations were exciting to watch. In the end, the judges chose Concordia University (Montreal, Canada) as this year’s Champion.

Concordia University students had a four pronged strategy for Frog’s Leap Winery. They recommended that for Frog’s Leap to increase sales but remain small and committed to sustainability initiatives, they should take the following actions:

  • Increase presence in Japanese market following a product development strategy
  • Enter the Chinese market following a market penetration strategy
  • Use recycled bottles
  • Plan the succession processGBCC Group

We would like to acknowledge the hard work of our GBCC Student Leadership Team who spent countless hours organizing this big event. Nicole Winjum and Brandon Upton led their group of six student managers and over 30 volunteers to a successful 15th annual GBCC.

And finally, GBCC would not be possible without our major sponsors: The Boeing Company, Costco Wholesale, F5 Networks, Russell Investments, Starbucks Coffee International, T-Mobile and Wells Fargo.

For more information, visit: http://www.foster.washington.edu/gbcc

Artie Buerk: the networker’s effect

Artie BuerkCatalyst of ventures and connector of people, Artie Buerk has financed the future of entrepreneurship at the University of Washington

It began with a gift. An investment, really, in an idea that had yet to be so much as scribbled on a cocktail napkin.

In 1990, Artie Buerk (BA 1958) and his wife Sue (BA 1974) pledged $100,000 to support entrepreneurship at the UW Business School. The problem? There was no entrepreneurship to support. No center, no program, no business plan competition, not even a single class.

A vigorous catalyst of new ventures, Buerk insisted that this deficiency be addressed. Immediately.

“My whole life has revolved around startups and small businesses, the engines of the Northwest economy,” he says. “I felt the UW should have a program to educate future entrepreneurs.”

Buerk found a small cabal of faculty with similar leanings. Most prominent among them was Borje “Bud” Saxberg, then chair of the Department of Management, who had noted the region’s uptick in entrepreneurial activity. “The answer was there,” recalls Saxberg, “waiting for action.”

Artie equaled action. He helped Saxberg’s task force sketch the original Program in Entrepreneurship and Innovation, and taught them how to raise the capital to launch it.

That was the seed. From it has grown a veritable dynamo of entrepreneurial education and activity, centered at the Foster School of Business but increasingly reaching across the University of Washington. Now that dynamo has been renamed the Arthur W. Buerk Center for Entrepreneurship, in honor of the Buerks’ recent $5.2 million gift to finance its future.

“Artie always says that there’s no shortage of ideas. But we need leaders who can take those ideas and turn them into something valuable,” says Jim Jiambalvo, dean of the Foster School. “With the Buerks’ support of our entrepreneurship center—the Buerk Center—we’ll create more entrepreneurial leaders, and we’ll extend our reach to discover those young people who don’t yet realize they have the entrepreneurial DNA.”

Startup

Buerk realized it early on. His first business was a Seattle Times paper route in his childhood neighborhood north of Matthews Beach.

He studied business at the UW, served as a supply officer on a destroyer in the US Navy, then earned an MBA at the Harvard Business School. Several years with big corporations convinced him that he was meant to build from the ground up.

One of Buerk’s first entrepreneurial challenges came, ironically, back at the UW. In 1968, he was hired to direct its fledgling alumni fund and development office. The bare-bones operation was raising a paltry $40,000 a year. “We were 25 years behind other public universities and 200 years behind the Ivy League Schools,” he says. “To me, it was a real opportunity.”

Buerk studied the field’s best practices, modernized the alumni database and department infrastructure, and increased the donor base exponentially—on his own and with a crackerjack staff. His early hires included Marilynn Dunn, the UW’s influential first vice-president of development, and Robb Weller, the legendary King of the Yell Squad, who could single-handedly light up a crowd of 70,000.

Buerk’s team of strivers got the private support flowing. By 1977, his operation was raising nearly $20 million a year (a legacy that has climbed to an annual $320 million today).

“It was entrepreneurial, something I had a real passion for,” Buerk says. “I’ve never had a job that was more fun.”

Back in business

Buerk’s expertise in raising money became a valuable asset. In the late ‘70s a couple of old friends, Chuck Barbo and Don Daniels, recruited him away to help finance their odd-lot portfolio of small businesses—among them Christmas tree farms, raw land, horse arenas, and a self-storage business.

As president—and an investor—Buerk convinced the founders to focus on the storage businesses, to be renamed Shurgard. And he helped Barbo and Daniels methodically build a nationwide brand, raising $750,000,000 for the expansion through a vast constellation of brokered deals.

Buerk spun off a successful records management company called Intermation and helped take Shurgard public in 1994 before moving on.

His investment had grown exponentially. And now the money was liquid.

So Buerk put it to new work. He founded the Seattle School Fund for Excellence (now the Alliance for Education). And, with a group of partners—“A who’s who of the Foster School’s Advisory Board”—he turned a 401K division of Washington Mutual into Northwestern Trust (acquired by Harris Trust).

In 1997, he co-founded the private equity firm of Buerk Craig Victor, now Montlake Capital. It was the heyday of the Internet boom, when capitol gushed toward anything with a .com suffix. But Buerk was a skeptic. He chose to invest in firms that demonstrated solid fundamentals—proven products/service, realistic projections, genuine leadership. Over the next decade-plus, he opened a new branch of legacy, molding growth companies and mentoring their leaders—from Door to Door Storage to Blue Dog Bakery, from HaloSource to SOG Knives.

People person

Whatever the business, Buerk’s true business has always been people. His vast personal network is legendary, and ever growing.

“Artie knows everyone, and everyone knows Artie,” says venture capitalist Neal Dempsey (BA 1964), a fellow founding champion of entrepreneurship at the UW.

It is, perhaps, because Buerk takes networking more personally than most. He had to. “My father died when I was 11, and it was just my mom and me,” he says. “If I was going to have a family, I knew I was going to have to build it out of friends and relationships.

“And that’s the way I look at it: not just a network, but my extended family.”

It’s a philosophy with a long-term perspective.

“Some people think of networking in terms of what they can get out of it,” says Kris Lindquist (MBA 2011), the director of strategic business development at Amazon.com who met Buerk through Foster’s MBA Mentorship Program. “But Artie gives twice as much as he takes. He pays it forward.”

He’s the consummate connector of people who show intelligence and initiative.

“If you want to know who to talk to in an industry or about a specific topic, Artie will typically know someone off the top of his head,” adds Sara Weaver (BA 1991, MBA 2001), a Buerk Center advisor who once worked at Buerk Craig Victor. “And he is very generous with his contacts and resources. He takes a real interest in helping people grow and succeed.”

“Building and maintaining relationships makes your life a lot more successful and valuable,” adds Buerk. “The greatest thing, to me, is to see the success of someone you’ve helped.”

Bow Down to Washington

Artie BuerkMost of Buerk’s connections seem to triangulate with the UW. He splits allegiances with the Harvard Business School (he’s been a dedicated class secretary for 50 years). “But my blood is purple and gold,” he confirms.

It’s a loyalty forged during busy, happy days as an undergrad. Bussing in to Roosevelt High School from Seattle’s northern frontier left little time for involvement. So Buerk resolved to engage in the life of the UW in every possible way. He studied business in the classroom, but learned to lead all over campus. Managing the Husky football and basketball teams. Training with Naval ROTC. Running the campaigns of the student body president and vice president. Serving as senior class officer, president of the Oval Club and member of Fir Tree.

Buerk was named “Outstanding Senior Man.”

He graduated, but never really left. After his decade as the UW’s first professional fundraiser, Buerk was a trustee of the UW Foundation and chair of the UW Development Fund. He taught personal finance through UW Extension for years. He’s a past president and board chair of the UW Alumni Association. He serves on the advisory boards of the Information School and the Foster School, having chaired the Foster board through the final years of the last capital campaign. He’s also mentored for years at Foster, and is on the board of the UW Angel Fund.

For these many decades of service—multiplied by the thousands he inspired to do the same—the UW honored Buerk with its 2007 Gates Volunteer Service Award.

The recipient claims he has got more than he’s given: “I’ve never had any association with the U that hasn’t been fun and successful,” Buerk says. “It’s hard to replicate that record in any other element of life.”

Center of attention

And few UW touchpoints have been as satisfying or successful as the mature, innovative center that has grown from Buerk’s somewhat speculative investment two decades ago.

To a brand building expert, “Buerk Center” has a nice ring to it. It certainly says something about the institution.

“There’s no one more deserving to have his name atop the center than Artie,” says Neal Dempsey, whose own name graces the building that houses it. “It’s a hugely meaningful gift, and a hugely meaningful name. Artie is the best there is.”

True to form, Buerk wants the center—already in the Entrepreneur top ten—to be the best there is. He applauds the work of director Connie Bourassa-Shaw and her staff to elevate the original vision to an incredible vibrancy of practical activity and education. And he hopes this new infusion of resources from the naming gift fuels the center’s ongoing expansion throughout the UW system.

“The UW brings 45,000 brilliant people to a 640-acre spot to work every day,” Buerk says. “Our job is to turn that brain power into businesses that will be good for their founders, good for the university, and good for the Northwest economy.

“If we can integrate entrepreneurship into the fabric of the University, engage all kinds of students and faculty in the process, get them thinking of great ideas as potential businesses, we will have something that’s very powerful.”

Power is what the Buerks have provided the Buerk Center for Entrepreneurship.

“A naming gift is the best endorsement,” says Bourassa-Shaw. “It’s an amazing vote of confidence. It says, I so believe in you that I’m proud to have my name associated with you for decades to come. It says, I’m betting money on your future. It says, I trust the center to do the right thing for students, for the UW, for Seattle. This is Artie’s legacy.”

The latest and greatest of many.

The 2013 International Business Club Summit- a student’s experience

Post by Vi Nguyen, CISB student

Vi Nguyen IBC

Thank you to the Global Business Center for giving me for the opportunity to attend the third annual International Business Club (IBC) Summit 2013 at the Fisher College of Business, The Ohio State University. The IBC had prepared an intense two-day summit for the purpose of gathering international business clubs from across the U.S. to share their best practices and develop deeper global awareness. This experience was very inspirational in many ways.

Prior to the event, each student had to fill out an IES (Intercultural Effectiveness Scale) survey. The idea focused on the likelihood of your working effectively with people whose cultural backgrounds differs from yours. This survey related to one of the sessions that were hosted on the first day, which was an assessment debriefing by Dr. Larry Inks, Department of Management and Human Resources, Fisher College of Business, The OSU. Dr. Larry Inks explained the purpose of the IES and emphasized that this assessment allows for an individual to seek out growth opportunities, to grow and develop based on our results. The IES provided us with the information on areas where there is room for improvements and to consider. He further mentioned that our position as college students is the richest environment for global reach.

The next event was the best practices presentation where each club had to give a 10-minute presentation on their club’s best practices and why they think their club is doing a good job for its members. It was then followed by an international trivia/jeopardy quiz where the questions were based from the issues of The Economist magazine. Additional questions were from general awareness and knowledge on global issues, geography, politics, cultures, etc. To end the first night of the summit, we had dinner and the chance for students to network with each other. We also had the honor to have Kent Larsson, currently a retail marketing consultant for The Gordman Group. Mr. Larsson shared his senior positions in marketing, merchandising, and strategic planning during his 30 years in specialty and general merchandise retailing companies such as Big Lots. He also spoke about the challenges of working overseas and of course the rewards of it.

The second day was an intense simulation on making great global decision based on the topic “China in Africa: Savior or self-interest”. This simulation was created by the Foreign Policy Association that requires robust discussion and consensus building on international topic and was facilitated by Shannon McAfee, Columbus council on World Affairs (who is also from Washington). After reviewing the topic, each team was to debate their positions on elements of this topic and present their points of view to all the participants. To end the summit, we had a keynote speaker: Mr. Patrick Terrien, President and CEO, Columbus Council of World Affairs. We had the opportunity to hear Mr. Terriens biography and how he was exposed to globalization. He then led an informal discussion on the topic of The Business of Global Awareness.

Through this experience, I had the opportunity to learn compelling best practices from other clubs across the U.S., build global competitiveness through survey feedback, test my knowledge with Economist quiz, network with peers also interested in global careers, participate in Foreign Policy Association global simulation and gain a competitive edge by expanding global awareness.

 

Digital marketing with a global team- a conversation with Justin Calvo, CISB alum and CIBER advisory board member

Justin CalvoJustin Calvo is the Global Director of Digital Marketing at Avanade, a global Microsoft technology integrator. He is a 2002 alumnus of the Foster School and the Certificate of International Business Studies (CISB) program, and is a member of the Global Business Center’s CIBER advisory board.

Tell us about Avanade. How did you get your start?

Avanade is a global Microsoft technology integrator.  Standing on the shoulders of our parent companies, Microsoft and Accenture, Avanade delivers insight, expertise and innovation across all industries to realize business results. After spending two years at a Seattle venture capital fund, the opportunity to work for a young company with incredible vision and backing was an entrepreneur’s dream.  One of the things that attracted me to Avanade was the idea that the company was truly global on the day it opened its doors for business a few years earlier.  Being global has always been an important part of the culture at Avanade.

I’ve had many roles in my 10 years with the company – responsibilities for delivering projects, managing global customers, directing an industry team and currently incubating Avanade’s Digital Marketing business focusing on helping marketers drive business value by improving the customer experience.

What is it like to manage a global team? What are some challenges you’ve faced, and insights you’ve gained?

Managing and being part of a globally connected team is one of my favorite parts of working for Avanade. The opportunity to work across a diversity of customer business problems with dynamic global teams and leading innovations is a large part of what drives me each day.

One critical lesson I learned early on at Avanade was that global means much more than simply working across continents.  It’s about having the scale and depth of insight and expertise to address complex, multi-faceted business situations. This past winter I had the opportunity to travel to Asia to spend time with some of our customers’ marketing leaders.  Perhaps no one inside a business understands how to support global needs like marketers, who increasingly require greater scale and insights to reach dynamic consumers and markets.  Meeting these diverse needs and doing it at the speed of today’s consumer requires a global approach.  The Chinese and German marketplaces are two extreme examples where global skills are necessary to navigate a complex ecosystem country-specific marketing channels as in China’s case, or to ensure ongoing compliance with Germany’s strict consumer privacy laws.

How did your time at the Foster School influence your interests and career?

The Foster School of Business and the CISB program gave me a strong foundation and framework to address business challenges in a global context.  Learning about how the global economy operates was essential to understanding my role in it and planning out my career.  Spending time studying and working abroad reinforced my passion for global interactions.  One of the most rewarding surprises I hadn’t fully considered or appreciated during my time at UW were the connections I built with classmates and teachers.  My classmates have gone on to drive incredible impact in global business.  Staying connected with many of them has allowed me to see the global economy and my career path from various angles.

What is one thing that you would tell students about the world of global business?

In 2000, when Avanade was established as a global business and I was still preparing to join the workforce, most new companies viewed being global as a destination.  This has changed.  Today every business must act globally.  The emerging start-up must consider the scale at which their innovation will address problems and the Fortune 100 enterprise must take stock of whether they have the agility they require to keep pace with the dynamic markets they serve.

As long as companies remain transfixed on growth – global will be a requirement.  Use this time in the Foster School of Business to gain valuable knowledge about the underpinnings of the global economy, and also to consider the tools and connections you will require to address the complex, multifaceted challenges that lead to tomorrow’s global opportunities.

Student managers celebrate the 15th anniversary of GBCC

by Alex Brechner, GBCC Student Manager

2013 GBCC Student Managers
2013 GBCC Student Managers

It’s finally here! The 15th annual Global Business Case Competition (GBCC) started this week. Our GBCC
student management team
has been preparing for this competition since the fall; recruiting ambassadors, training volunteers, planning events, and preparing the teams. Our team is made up of eight Foster School students, and we are very excited for the final round presentations to take place this Saturday, April 13, at 2:00 pm in the Shansby Auditorium (Paccar Hall 192). Last Friday, I wrote about the history of the competition after interviewing some past competitors; today I’d like to share what is happening this year.

Monday night, students from around the world arrived in Seattle. Teams flew in from the Philippines, Singapore, Belgium, Spain, Mexico, Egypt, New Zealand, China, Canada, and Arizona. The GBCC Management Team has been keeping our visitors entertained – we toured the UW campus and visited Pike’s Place Market, worked with three local high schools on a short business case, and met with five companies: Amazon, Port of Seattle, Russell Investments, Tableau Software, and Zulily.

Lots of Foster School students also got a chance to talk with these talented international students last night at our Global Networking Night. There is still a great opportunity to meet these students – come watch the final round on Saturday! We want to make our visitors feel welcome, so come support them.

The business cases and student charge were passed out on Thursday, and presentations will take place after exactly 48 hours of analysis. Each school has its own team, but GBCC offers a unique twist: the 12th team, called the Global Team, is composed of four members from four different schools. These students have only one week to get to know each other, and they are up against teams whose members have been working together for months. Against all odds, the Global Team has found success in the past by drawing on their diverse backgrounds. We wish all of this year’s teams the best of luck.

Every year, GBCC brings students from all types of cultures and backgrounds together for an incredibly rewarding experience. The GBCC management team has worked hard to make sure that this is a week that everyone – from the volunteers to the competitors to those who just want to stop in and take a peek – will not soon forget. We are excited to bring the world to UW for the 15th year in a row!

Driving Porsches, Chevys, and camels?

Amidst the Bentleys, Mercedes, Porsches and the real fancy cars in Dubai and Abu Dhabi, all may not be as well as it appears on the surface. We learned that a very large percentage of Emeriti’s doesn’t graduate high school and many are functionally illiterate. Yet, when they do leave school – most can and do apply for a government job and of course get it – being paid $90,000, while also receiving 60 days vacation a year, housing and car allowance, all utilities paid for and many other benefits including healthcare. So why learn! As one Emeriti entrepreneur told us, most Emiratis who want to be entrepreneurs, and they are few and far between, cannot compose an email or structure a sentence! On the other hand, there are Emeriti’s that you could compare to the best and brightest in the world. So as someone said, they have a ‘software’ problem not a ‘hardware’ problem that the government’s rulers have to address to sustain this amazing growth over the next 100 years, let alone 50. In this regard, a most telling saying we heard about the past and future in this region goes as follows: My grandfather drove a camel, my father drove a Chevy, I drive a Porsche and my son drives a Bentley, but likely his son will drive a camel….again.

Real-world strategies for success

Ken Denman & Andrew Lindsay In March, more than twenty Business & Economic Development Center (BEDC) undergraduate students temporarily pushed aside their group projects and studying for exams to think about career approaches following graduation while attending a BEDC-organized luncheon with Machine Perception Technology CEO, Ken Denman (MBA 1986), and Jawbone Chief of Staff, Andrew Lindsay.

Designed as an informal, personal setting for students to actively engage in discussions about career and entrepreneurship options, students questioned Denman and Lindsay and put forth their own questions for navigating the business world. Students who attended came seeking real-world advice. For instance, Diana Nguyen, a student of the Multicultural Marketing class and an executive member of the BEDC’s Leadership Team, arrived at the luncheon seeking to learn how Denman and Lindsay “knew that they were making the right choices” along their career paths, and “what advice…they have for [students] as [they] try to achieve [their] own goals today.”

Both Denman and Lindsay stressed the importance of accessing one’s own individual goals. “Think about how you want to live and what you want out of life,” said Denman. Passion for your work is critical, and one must be invigorated by what they do each day. “There are too many opportunities to do a job you don’t love waking up to every morning.” And, as Rai Huang, another student of the Multicultural Marketing class, pointed out, the importance of “seizing opportunities available in the business school environment” was another chief point made by Denman for current students.

Additional key takeaways from the luncheon were threaded around a theme of best practices for business consulting as a profession—notably one of the “fastest growing industries in today’s corporate world and one of the most popular career choices” for new graduates—and business strategies for start-ups. Denman and Lindsay said that, whether you are steering the choices of businesses in trouble or striving to be entrepreneur, the blueprint to a successful business is to solve a problem or provide a service of incremental value that the consumer market is willing to pay for. Denman asserted that finding new ways to provide incremental value to the marketplace is one of the greatest challenges for small businesses. Conducting introspective market research, appropriately predicting the future of one’s industry, and perusing a risk-adjusted approach are fundamental.

Undergraduate Students at Denman & Lindsay LuncheonStudents also expressed considerable interest in the benefits and challenges of consulting for small businesses versus large corporations. Denman and Lindsay agreed that, while working with large companies can be advantageous for gathering valuable skills sets and acquiring knowledge of proper consulting processes and policies, large corporations can be more resistant to revision and restructuring than small business. Small companies, on the other hand, are more nimble and open to change, and the result of alterations can be more quickly discernible, but the emotional investment on the owners’ part can be far greater. In turn, Denman and Lindsay recommend that the key to successful consulting is to deliver arguments for change with confidence, verified statistics and objective facts.

The hour-long luncheon was a time for students to reflect on their futures, and gain recommendations regardless of the career path they choose. Undergraduate Rai Huang recapped the event well:

“It reinforced my belief that, if a person chooses to follow their heart and keep moving towards that direction, they will eventually find success.”

The BEDC’s ability to connect students with business mentors depends on the generous contributions receive from individuals, corporations and foundations. Please donate to the BEDC to help us train future leaders.

More than a case competition

Guest post by Alex Brechner, GBCC Manager 2013

UW GBCC Students visit Esterline
UW GBCC Students on a Corporate Visit

Another year, another competition. Not this year! It is the 15th anniversary of the Foster School’s premier global competition, the Global Business Case Competition (GBCC).  Don’t allow it to slip past without recognition, instead stop for a minute and consider the impact of this competition over the course of 15 years.  Over 100 business schools from over 50 countries have sent teams to compete in GBCC.

Each year, for one week, universities from around the globe bring some of their best and brightest to the University of Washington (UW) to share in the competition and cultural collaboration. Students who would otherwise never have met gather together as friends and friendly competitors to share their wealth of knowledge. For one week, business as usual becomes something much greater – a chance for the UW to change from a dot on a map to a learning mecca where connections are built and memories are made. For those who get involved, it is a week not soon forgotten.

After speaking with past competitors representing UW, Katie Emoto and Michelle Lefler, it is clear that GBCC is far more than the average case competition. The participants are more than competitors; as Katie puts it, “by the end [of the week], everyone was so close.” Michelle adds that her favorite part of the competition week was “hanging out with everyone outside of the competition. It made the actual competition seem unimportant.” While both Katie and Michelle rave about the skills they took away from GBCC and the competition’s status on their resumes (both students are set up for employment after graduation), the true power of GBCC is in the sharing of culture, both inside and outside of the business environment. For instance, Katie used the intricacy of the Portuguese team’s PowerPoint as inspiration for her future presentations, and Michelle learned about a new employment program that led her to her future internship. They have also maintained contact with their fellow competitors a year after the competition. To the students and community members involved, GBCC is more than simply another case competition put on by the Foster School of Business

The 2013 competition is coming up next week. For the 15th time, there will be a week of laughs, spreadsheets, and newfound friends. This time, take notice and take part. After all, it only comes around once a year.

If you are interested in getting involved with GBCC 2013, come to the Global Networking Night on April 10 from 5:30 to 6:30 pm in the Anthony’s Forum (Dempsey Hall), where you can meet the international student competitors. Also, join us for the GBCC Final Round on April 13 from 2:00 pm to 4:30 pm in the Shansby Auditorium (Paccar Hall 192). You’ll learn a little bit more about business and a lot more about the rest of the world.