All posts by Alanté Fields

Checking in on YEOC: The October Session

For most, a pep rally followed by a mentor meeting, a college-prep workshop, and a talk on the power of networking with the Email Marketing & Promotions Coordinator for the Seattle Seahawks sounds like an action-packed day. For YEOC students, this is Saturday morning.

It’s the first official YEOC session of the year and things are in full swing. With “team building and networking” as the theme, students are introduced to the year’s first team activity: the Building Bridges Challenge. For this challenge, students are tasked with building a model bridge that stretches from Seattle to Mercer Island. However, there’s a catch—students can only use items found in their mystery bags. With a round of voting led by YEOC mentors Kainen Bell and Diana Lopez, the winners receive VIP Lunch access (first dibs in the lunch-line and a sit-down with keynote speakers), cupcakes courtesy of Trophy cupcakes, and bragging rights.

See a few pictures from the October session below.

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This blog post is a part of a series focusing on monthly YEOC student activities. Visit the YEOC page to learn more about the program.

Is an MBA worth it?

When Dan Poston, Assistant Dean of Masters Program, recently addressed a group of prospective students interested in pursuing an MBA, he argued the practicality and attractiveness of MBA degrees to employers. “When recruiters recruit for MBAs,” Poston said, “they’re looking for someone who has been trained across all the different business disciplines.” Poston also discussed the Foster School’s full-time and part-time options, the enviable job-placement skills of MBA Career Management, and the high caliber students who enter the programs. Likening the process of selecting an MBA program to choosing a cruise, Poston believes that a positive MBA experience relies largely on the people you (the student) share it with. “You learn just as much from the people who are in the program with you,” he said. Watch selected clips from his talk below.

Do you know anyone who may be interested in earning an MBA while they work? Send them an invite to the next Work + MBA open house. See the event page here.

Meet the 2014-2015 YEOC Mentors

This year’s crop of YEOC mentors and mentors-in-training share their majors, heritage, and more.

mcconnell-danielle Danielle McConnell, Junior
Major: Information Systems & Marketing
High School: Kentwood
Heritage: African American & Japanese
Activities: VP Of Information Systems for Association of Black Business Students (ABBS)
lopez-diana Diana Lopez, Junior
Major: Communications
High School: Wapato
Heritage: Hispanic
Activities: Boeing Internship and traveled to Ecuador last summer
Emmeline Vu Emmeline Vu, Junior
Major: Information Systems and Marketing
High School: Inglemoor
Heritage: Vietnamese
Activities: ASUW Board of Directors, TedxUofW, Delta Sigma Pi Business Fraternity, Campus Tour Guide, Concur Technologies Intern)
Irah Dizon Irah Dizon, Junior
Major: Human Resources & Operation & Supply Chain Management
High School: Mount Tahoma
Heritage: Filipino
Activities: Intern at Seattle City Light, Former Resident Advisor, Former Dream Project High School Lead
jeremy santos Jeremy Santos, Senior
Major: Finance
High School: Kentridge
Heritage: Filipino
Activities: Montlake Consulting Group, Foster Student Ambassador, Peer Coach
Jordan Faralan Jordan Faralan, Senior
Major: Marketing & Entrepreneurship with a Diversity Minor
High School: Oak Harbor
Heritage: Filipino
Activities: President of UW Hip Hop Student Association, Program Manager for ASUW Arts, Foster Student Ambassador
Joshua Banks Joshua Banks, Junior
Major: Finance and Accounting
High School: Washougal
Heritage: African American & Korean
Activities: Sigma Phi Epsilon Fraternity
Kainen Bell Kainen Bell, Senior
Major: Information Systems, Social Welfare
High School: Stadium
Heritage: African American
Activities: Director of
Service & Partnerships for
ASUW, UW Salsa Club,OMAD Ambassador, Intern at KPMG, Interned in Brazil
Karla Belmonte Karla Belmonte, Senior
Major: Accounting
High School: Highline
Heritage: Mexican
Activities: Association of Latino Professionals in Finance & Accounting (ALPFA), intern at INROADS
garcia-maria Maria Garcia, Junior
Major: Finance & International Business with a Spanish minor
High School: Royal
Heritage: Hispanic
Activities: Association of Latino Professionals in Finance & Accounting (ALPFA), intramural softball and soccer
Midori Ng Midori Ng, Junior
Major: Information Systems & Marketing with a Diversity minor
High School: Eastlake
Heritage: Chinese & Japanese
Activities: UW Relay for Life, Campus Tour Guide, Foster School Ambassador, Peer Coach, Intramural Volleyball, Case competitions
Nura Marouf Nura Marouf, Senior
Major: Supply Chain & Operation Management
High School: Shorewood
Heritage: Middle Eastern
Activities: Foster Ambassador, Fashion intern at Jahleh, National Association of Black Accountants (NABA), Case competitions
rodriguez-skyler Skyler Rodriguez, Senior
Major: Interaction Design IxD
High School: Inglemoor
Heritage: Filipino
Activities: IxDA spreading awareness of the importance of design and uncovering the importance of a collaborative learning environment
atafua-taupule Taupule Atafua, Senior
Major: Human Resource Management with a Diversity minor
High School: Auburn Riverside
Heritage: Pacific Islander
Activities: VP of UW Polynesian Student Alliance Organization, Student Resource Coordinator Lead at ECC, OMAD Ambassador, Phi Sigma Pi Honors Fraternity
tina moore Tina Moore, Senior
Major: Accounting & Information Systems with a Diversity minor
High School: Henry Foss
Heritage: African American & Korean
Activities: Association of Black Business Students (ABBS) President, Foster Student Ambassador

2014-2015 Mentors-in-Training

Dre Fariñas Dre Fariñas , Senior
Major: Accounting & Information Systems
High School: Kentridge
Heritage: Asian American & Haida American Indian
Activities: Association of Latino Professionals in Finance & Accounting (ALPFA), OMAD Mentor, Intramural Football & basketball
Fabio Pena Fabio Pena, Junior
Major: Finance
High School: East Valley
Heritage: Hispanic/Mexican
Activities: Association of Latino Professionals in Finance & Accounting (ALPFA), Sigma Lambda Beta International Fraternity, Husky Leadership Initiative
Jo Yee Yap Jo Yee Yap, Sophomore
Major: Business Administration
High School: Interlake
Heritage: Chinese Malaysian
Activities: Dream Project, Resident Advisor, Ascend
lee-lander Lander Lee, Sophomore
Major: Accounting
High School: Inglemoor
Heritage: Chinese & Filipino
Activities: Sigma Nu Fraternity, Delta Sigma Pi Business Fraternity, Foster School of Business Ambassador
Vipo Bun Vipo Bun, Sophomore
Major: Accounting
High School: Renton
Heritage: Cambodian
Activities: National Association of Black Accountants (NABA), Association of Black Business Students (ABBS)

Learn more about the YEOC program here.

PACCAR Day at Foster

A clean, modern, state-of-the-art building on the north-central part of campus, PACCAR Hall is the unmistakable jewel of the Foster School. The result of several private donations from area companies, the building is named after its largest benefactor, truck manufacturer PACCAR Inc. Headquartered in Bellevue, the Fortune 500 company continues to forge an exceptional and ongoing relationship with Foster, sponsoring the PACCAR Award for Excellence in Teaching and recruiting students and recent grads for internships and jobs. In recognition of this extraordinary partnership, Foster officially declared October 8, 2014, as PACCAR Day on the UW campus.

During the event, students, staff, and faculty were able to tour trucks, speak with PACCAR employees, and enjoy a special lunchtime presentation from CEO Ron Armstrong. See photos from the event below.

PACCAR trucks

 

 

 

PACCAR Executives

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PACCAR and Dean

PACCAR speaking event

 

 

 

PACCAR swag

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Visit our Corporate Partner’s page to find out how your company can engage with Foster.

Checking in on YEOC: A new year

As a new school year begins, so does Foster’s high school-to-college pipeline program Young Executives of Color, known to most as YEOC. The program, now in its eighth year, is more competitive than ever, receiving over 350 applications for 173 spots. With 44 percent of current YEOC students working towards being the first in their family to attend college, the stakes are high and the rewards are life-changing. There’s much to learn and discuss, which is why the program staff kicked things off with an all morning orientation for both students and parents. YEOC Program Manager Korrie Miller believes that it’s vital that families have time to ask questions and see what their students will be doing for the next nine months. “It sets the tone for the whole year,” she says.

After breakfast and a bit of networking, students reviewed the program expectations and policies concerning attendance (required), dress code (business casual), and bullying (zero tolerance). Afterward, the students met their assigned mentors. The mentors, juniors and seniors here at Foster (some of whom are also YEOC alums) are assigned several YEOC students to support both during and outside of the sessions. This support includes contacting the mentees to see how they’re coming along with school-work (the average GPA for a YEOC student is a 3.6) and what actions they’re taking to achieve their post-secondary goals. The students ended their session with a workshop hosted by admissions counselors and recruiters from UW’s Office of Minority Affairs & Diversity.

Meanwhile at the parent session, families were given the opportunity to hear from YEOC staff, program sponsors EY, former YEOC parents, and a former YEOC student and mentor. Like the students, they also ended the session with a college prep and admissions workshop.

See photos of the orientation below.

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YEOC students

 

 

 

 

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YEOC mentors
2014-2015 YEOC Mentors

 

 

 

 

 

 

 

 

This blog post is a part of a series focusing on monthly YEOC student activities. Visit the YEOC page to learn more about the program.

Checking in on YEOC: The May Session

“The building bridges program’s primary goal is to assimilate prospective workers into a more international cultural body, and to succinctly mend the gap between differing generations of workers. This program will not only expand the worker’s knowledge of various cultures, but will also elevate their opportunity to grow through art and culture, to allow for a more well-rounded workforce.”

The quote above is the mission statement of Building Bridges, a social program aimed to engage millennials in the workplace. On their website, interested clients can find more information regarding future activities, daily reads and program benefits. Here’s the thing: Building Bridges does not exist… at least not yet. The organization is the winning creation of a team of YEOC students participating in the YEOC Case Competition Challenge. With Amazon Kindle Fires at stake, the competing student teams (18 in total) were tasked with developing a one page proposal describing their millennial workplace engagement plan and presenting for 10 minutes in front of a panel of business and community leaders. After successfully wowing the judges with their carefully designed website, brochure and presentation, Building Bridges was declared victorious at the YEOC End of Year Celebration in the HUB Ballroom. The announcement was just one of the many highpoints of the evening.

At the celebration, five $2,000 YEOC Senior Scholarships were awarded to students attending UW in the fall. Attendees also heard remarks from Keynote speaker Carlos Gutierrez, partner at EY, and student speaker (and future Foster student) Ashlyn Thomas.

Since YEOC is a college-prep program, we would be remiss if we didn’t mention what a few of the YEOC seniors have in store after graduation. Some highlights:

  • 50 of the 79 seniors who applied to UW were accepted for a 63% acceptance rate –higher than the UW’s acceptance rate of 55%
  • Eight YEOC seniors were admitted to the Foster Freshman Direct program
  • Schools that YEOC seniors will be attending include: University of Washington, Washington State University, Evergreen College, Babson College, Northeastern University, Hawaii Pacific University, University of Southern California and the University of Oregon

With stats like these, YEOC students are a true testament that anything is possible. Take part in the celebration by watching the end of the year compilation video and checking out some of the photos below:

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YEOC-panel
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Sustainable Big Macs: The plan for a leaner, greener McDonald’s

McDs_Langert1Imagine going into a McDonald’s and learning that all of the beef used in their hamburgers was sustainably sourced. Not only that, but the restaurants were using less energy, recycling more and adding more fruits and vegetables to their menu. Seem far-fetched? Not when you learn that the company, famous for its fast, low-cost food items, has been developing sustainability initiatives for the past three years. Enter Bob Langert, McDonald’s Vice President of Corporate Social Responsibility and keynote speaker at Foster’s Fourth Annual Idea Lab. Speaking to an audience full of MBA students and Puget-sound area business leaders, Langert talked about supply chain, consumer buy-in, and championing sustainable beef at the home of the Big Mac.

Having labeled McDonald’s as a company in transition, Langert hopes that their involvement in the sustainability movement– which he thinks is “too small [and] too niche”– will jumpstart supplier and consumer buy-in. McDonald’s has developed a plan, dubbed “Our Journey Together. For Good”, to make their menu both healthier and sustainable. The plan’s goals include:

  • To begin serving sustainably sourced beef by 2016
  • Add more fruits and vegetables by 2020
  • Reduce fat, sugar and overall calories in their food
  • Provide 100 percent sustainably sourced coffee
  • Reduce restaurant energy consumption by 20 percent
  • Increase in-restaurant recycling by 50 percent.

To achieve these goals, McDonald’s first priority is to address the supply chain—which Langer believes accounts for 80 percent of the corporation’s environmental impact. While aggressive, this certainly isn’t the first time the Golden Arches has addressed food sourcing.McDs_audienceClose

Dressed in chicken suits, Greenpeace activists staged protests in European McDonald’s restaurants with the hopes of raising awareness of deforestation in Brazil due to soya production in the Amazon. As it turned out, Amazonian soya was a major source of soy for McDonald’s food products. Surprising cynics (and probably a few Greenpeace protestors), Langert met with the activists, even traveling to the Amazon with them to get a first-hand picture of the devastation. Within three months, Langert says, McDonald’s was able to negotiate a moratorium on Amazon soya. Reflecting on the experience, Langert said, “[I’m] proud of the work, not proud that it came through a crisis.” The soya-based deforestation problem was a watershed moment for McDonald’s, driving the company’s other environmental initiatives like responsibly sourcing their coffee and their fish—100 percent of which comes from sustainable fisheries. With a focus now placed squarely on their beef suppliers, McDonald’s hopes to do the same for the millions of hamburgers they sell each day.

From enlisting the consulting expertise of famed animal science doctor and autistic activist Dr. Temple Grandin to honing in on their message, McDonald’s approach to the beef industry has been multi-pronged. Recalling his keynote speech at the first annual Ranch Sustainability Forum earlier this year, Langert reiterated the importance of coming together as a community to be more environmentally responsible and forward-thinking. “I kept saying we’re on the same page. We want sustainable beef to sell more beef.” However, Langert knows that sustainability isn’t limited to suppliers. Pointing to the trouble their European restaurants are having convincing their customers to recycle (crew members are manually separating garbage from recycling), Langert acknowledges there’s still a long way to go. When asked if it’s possible that customers are fatigued by sustainability messaging, Langert half agreed, stating that while McDonald’s Chief Brand Officer is coming up with “disruptive ways to reach consumers” he knows that what they’re doing right now is not enough. He added, “The plan right now is not consumer-centric. Our time now is being spent within the supply chain.” That’s not for nothing. Langert said that he continues to be astounded by the progress made on the supply side, stating that “suppliers discussing sustainability is a big deal.”

McDs_qaThere’s no doubt for Langert that McDonald’s has a challenging road ahead to achieve total supplier and consumer buy-in, stating, “When you try to develop something bold, there’s a lot of resistance.” However, Langert maintains that the folks at the Golden Arches are committed to taking sustainability beyond the “small and niche.” Within a few short years, McDonald’s may evolve in to paragon of environmental stewardship in the business world and possibly beyond. We’ll all just have to wait and see.

This event was co-sponsored by Foster’s Net Impact MBA club. Net Impact is a new generation of leaders who use their careers to tackle the world’s toughest problems. They put their business skills to work for good throughout every sector. By doing so, they show the world that it’s possible to make a net impact that benefits not just the bottom line, but people and planet too. Learn more about the club here.

Checking in on YEOC: The March and April Sessions

March: International Experiences
In an ever-connected world, with the lines that divide nations, ethnicities and philosophies becoming blurrier with each passing year, cultural competency will be (if it is not already) key when it comes to professional success. With the theme “International Experiences,” YEOC students are once again proving themselves to be ahead of the curve. The day began with college prep workshops in cultural awareness and leadership, preparing them for the month’s activity. In an event dubbed Global Student Experiences and Around the World Lunch, students rotated between three themed rooms (China, India and Brazil) where they ate lunch (also themed) and listened to a panel of students who had visited that particular country. Afterward, parents joined the students to watch the highly anticipated annual YEOC Cultural Showcase. Performers included UW’s African Student Association, Perlas Mestiza, Jamela Mohammed, Myanmar Student Association, Khmer Student Association and Seattle Karen Don Dance group. Be sure to watch the video for snippets of the showcase and to see the YEOC Flash Mob!

April: Accounting
Just in time for tax season, this month’s theme was “Accounting.” Students kicked things off with a mentor lecture on accounting and a workshop on dining etiquette. Led by Pamela Lacson (Foster’s Associate Director of Diversity & Recruitment), the workshop included the 3 “D’s” of etiquette: Demeanor, Dining and Don’ts. Students also learned the importance of first impressions, voice, eye contact, appropriate attire, handshakes and elevator pitches. Afterward, Beth Lambert, senior manager of EY Fraud Investigative Dispute Services, joined students for this month’s YEOC Talk on Forensic Accounting. Fans of the popular Crime TV genre may be familiar with the term “forensic” as a scientific means to solving grisly crimes. As it turns out, those same skills (gathering and analyzing evidence) can be used to solve white-collar financial crimes like embezzlement, bankruptcy or fraud. Not many high school students can say they spent the day learning the ins and outs of a crucial specialty practice area of accounting. Near the end of the session, students were introduced to their last YEOC activity of the 2013-2014 school year—the case competition. Students will present their findings to a panel of Seattle-area professionals during the May session.

This blog post is a part of a series focusing on monthly YEOC student activities. Visit the YEOC page to learn more about the program.

Checking in on YEOC: The January and February Sessions

January: iCreate
Imagine going to a meeting and finding out that you and your team must write, film and produce a commercial for a client within a few hours. How do you think you’d do? This is exactly what Young Executives of Color (YEOC) students were tasked with during their January session. Upon arriving to campus, students were separated into groups, paired with a mentor and presented with iCreate. According to Korrie Miller, YEOC Program Manager, “iCreate allows students to create their own commercial for a client that follows their branding, strategy and business goals.” The client in this case was APLUS Youth, a non-profit based in Washington state that focuses on character development and education through sports. “APLUS Youth is launching a new running program and asked the YEOC students to act as consultants and create not only commercials (on our YouTube Channel), but also fresh ideas for their program,” says Miller.  Watch the session video below:

February: Information Systems
This session’s business activity was inspired by the ABC Show “Shark Tank.” When describing the project, Miller says, “On the show, investors called “sharks” consider offers from aspiring entrepreneurs seeking investments for their business or product. At YEOC, students decided on a problem they wanted to solve and came up with creative solutions involving technology. Each team presented their product in front of the sharks, who were professionals from EY (YEOC sponsors).” Students also heard lectures on social image and online correspondence and information systems. Watch the session video below (and don’t miss the Seahawks gear!):

This blog post is a part of a series focusing on monthly YEOC student activities. Visit the YEOC page to learn more about the program.

CEOs and investment bankers give a rare glimpse into the IPO and M&A process

This event was hosted by Neal Dempsey, the Foster School’s visiting 2013-2014 Edward V. Fritzky Chair in Leadership.

You’ve probably seen the headline; “Major company goes public.” Perhaps you’ve even heard the breathless analysis that follows when said company’s stock prices decrease. What you’re probably less likely to hear or read in the news are the debates between CEOs and investment bankers, the strategy CEOs use to discuss going public with their employees, and how bankers negotiate stock price. These are the exact conversations current Fritzky Chair Neal Dempsey had in mind when he invited Vice Chair of JP Morgan Chase Cristina Morgan, former Eloqua CEO Joe Payne, Guidewire CEO Marcus Ryu and Head of Capital Markets at JP Morgan Chase Mike Millman to participate in a panel discussion on the IPO and M&A process. Moderated by Foster Professor Jennifer Koski, the panelists gave what is probably the most inside view possible of going public. Below are a few of the questions they tackled:

How do companies decide they’re ready to go public?
All of the panelists agreed that there are several things you must take in to consideration before making a final decision. For Ryu, it is asking one’s self, “Why do you want to go public?” Payne agreed, adding “Going public as a sole goal is an empty goal.” When preparing to take Eloqua public, Payne said that he and his colleagues spent a lot of time thinking about their customers and how they would feel about the move. Speaking from the investment bank perspective, Morgan argued that “the worst thing you can do is take a company public before they’re ready.” Furthering this point, Millman said that companies must consider three points before they go public; 1) Currency 2) Branding and 3) Capitol.

How do you maintain enthusiasm among your employees during the IPO process?
Ryu believes it is important for companies to operate with a long-term outlook. Since the stock market isn’t exactly the most steadfast entity, he came up with a two-pronged strategy for communicating with his employees about the IPO process: 1) Talk down the IPO and 2) Get everyone to understand the fickleness of the stock market. Having survived the dot com bubble of the 90s, when CEOs gained —and lost— millions of dollars in a matter of months, Payne had a similar revelation. “The issue of stock prices and IPO is only as important as you make it,” he stated in agreement with Ryu.  In fact, Payne and Ryu said that they both designated a few minutes during staff meetings to answer questions about the IPO.

What is the biggest source of contention when going public?
When discussing the relationship between investment bankers and entrepreneurs, Morgan said “We’re [the investment bankers] representing the buyers as well as the sellers” and that all involved parties act as each other’s “checks and balances.”  Adding, “[There’s a] natural suspicion that the investment bank is slightly more in league with the other side than with the company.” Simply put, bankers are predisposed to believe that the company is trying to get the stock prices higher while the company believes investment bankers are trying to get the price lower.
For Millman, there are three sources of contention:

1)      Evaluation- It’s difficult to educate the company’s board on the IPO.

2)      Employee selling- It can be very confusing for employees to know when and if they should sell.

3)      Fees- Banks will argue with each other on the best way to “divide the pie.”

Speaking to Morgan’s “natural suspicion” comment, Ryu admitted that he was initially skeptical of investment bankers. However, having gone through the IPO process, he now understands the importance of the work they do. Looking to Millman, whom he worked with when Guidewire went public, Ryu stated “I can say emphatically that the fee is well-earned.”

Watch the discussion in its entirety below:

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