All posts by UW Foster School of Business

Angelica Macatangay’s BA degree journey

Angelica Macatangay - BA graduateAngelica Macatangay’s drive to succeed was inspired like this: She was a smart, 17-year-old high school grad in Guam holding acceptance letters to three top-tier private colleges when the doors to opportunity slammed shut.

With three siblings who had gone to college ahead of her and her parents looking for work in the Unites States, Macatangay graduated alone in Guam knowing the price of college was beyond her means because her parents couldn’t afford to help pay.

First step was to rejoin her family in the US. Her parents landed in Seattle where her next oldest sister was graduating from Seattle University. “When I got out here, there was some animosity within the family,” she said. “I was the only child left and everyone else got to go to school and I was pretty upset about it.”

The sting of that first blow motivates Macatangay still, even as she prepared to graduate with a BA degree from the UW Foster School of Business in 2010, a top-level finish in the 2010 National Collegiate Sales Competition and a consulting job at Oracle, one of the world’s most prominent software companies.

“Knowing that I couldn’t go to school, knowing that I had that opportunity and I couldn’t take it killed me,” she said. “I told myself I am not going to ever let that happen again.”

The road to Foster: a challenge overcome

Bucking the trend of her siblings who all went into medical fields, Macatangay pursued a career in business. “Eight days after graduation I was in Seattle,” she said. “After two weeks, I had my first job.”

She lived with her parents for a month, then got an apartment in Seattle with a coworker and landed a second job. Although it would be two years before she could afford to go to Bellevue Community College (BCC), Macatangay kicked off her education.

“I told myself, if I can’t learn through school, I am going to learn through work. I was looking to find companies where I was able to work hard and be promoted so that I could learn all I could about their business.”

Macatangay’s path to Foster almost ended with her early success in business. Working in a modeling agency generating client leads, supervising the front desk at an upscale beauty salon, managing aspects of an English language service and leading in sales at a Bellevue boutique, Macatangay had several opportunities to advance her career without a formal education.

One opportunity was a $40,000-a-year job in California. Her quandary: Why not skip college and make money now?

When she thought about it, that stinging disappointment in Guam reminded her she wanted to make sure she didn’t limit herself and that an education was the best way to ensure as many options as possible. She finished at BCC and transferred to the University of Washington. However, due to confusion between advisors, she hadn’t applied to Foster before the transfer and found herself on a campus without the clarity of direction she’d worked so hard for.

“I literally sat in Odegaard (undergraduate library) and cried,” she said. “I remember sitting there crying, asking myself—Why am I here? Why did I choose such a huge college?”

Macatangay did eventually apply to Foster. One afternoon, she opened her mailbox at her apartment and there was a small letter carrying the Foster logo. Her heart sank. It was so small, so normal looking that it couldn’t be good news. She was too panic-stricken to open the letter, so she called a friend. With her dog by her side and friend on the phone, she read the news – Foster had accepted her.

Career launched: From Balmer High to Oracle consultant

“People would refer to Foster as Balmer High and I had no idea what the heck they were talking about. And then I came and I said, Oh, god! I see it. There was definitely a sense of community,” Macatangay said. “I knew when I walked into the business school that they were all business students. You could feel the tension and the competitiveness.”

The high-intensity of the students matched her own drive. Macatangay thrived. She also continued to work nearly full-time until well into her senior year when she had to devote more time to school.

Macatangay jumped at the chance to compete in the 2010 National Collegiate Sales Competition. After six months of grueling preparation, she and fellow graduating Foster senior Kaitie Fisher teamed up to take second place, beating teams from more than 60 US universities.

Recruiters at Oracle spotted Macatangay at the competition and brought her in for interviews. As an Oracle sales consultant, she said, the learning curve will be steep. But that environment suits her perfectly.

“There are going to be a lot of new challenges and experiences,” she said. “In a sense, there will be an endless hallway with a ton of doors and I think I find comfort in that.”

While her degree and success at Foster leave her feeling for the first time that she is now on a level playing field with her peers, no longer playing catch-up because of the time she had to work before entering college, Macatangay is still driven to achieve.

Her new job in San Francisco began shortly after 2010 graduation. What are her new goals after college? She says, “How many years do I want to work before I get my MBA?”

Khoo TIME: Foster alumnus an influential entrepreneur

TIME magazine has named the founders of Seattle-based Internet comic strip Penny Arcade among its 2010 “TIME 100,” a roster of the world’s most influential people. While recognizing the artist/writer duo of Mike Krahulik and Jerry Holkins as the “tastemakers, and conscience,” of the massive computer gaming industry, the magazine also credits Foster School of Business grad Robert Khoo (BA 2000), Penny Arcade’s business director who turned an obscure comic into a mighty—and fiercely independent—media empire.

With Khoo at the helm of business affairs, Penny Arcade catalyzes a tight-knit Web community of 3.5 million hardcore gamers, throws an annual expo called PAX that draws 60,000 fans to Seattle each summer, and runs Child’s Play, a thriving charity that delivers video games to 60 children’s hospitals around the world.

State of the economy with faculty Hadjimichalakis and Rice

The 2010 MBA State of the Economy forum at the University of Washington Foster School of Business with finance and economics faculty members Karma Hadjimichalakis and Ed Rice covered issues related to our national economy, European trends, state and local economic issues as a result of the recent budget crisis, health care reform and more. This event is an annual series for Foster alumni.

RSS Missed the event? Listen to the 50-minute MBA State of the Economy podcast.

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The ABCs of LEED

Guest blog post by Rita Brogan, CEO of PRR

RitaBroganIt is almost impossible these days for there to be a discussion about building or development that does not include discussion of LEED, an internationally-adopted third party certification of environmental excellence in metrics related to energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, stewardship of resources and sensitivity to impacts.

LEED, which stands for “Leadership in Energy and Environmental Design,” was initiated by Robert Watson in 1993 to:

  • Define “green building” by establishing a common standard of measurement
  • Promote integrated, whole-building design practices
  • Recognize environmental leadership in the building industry
  • Stimulate green competition
  • Raise consumer awareness of green building benefits
  • Transform the building market

Although it is not the only certification system for sustainability, it is certainly the best known. With the broad-based efforts of the US Green Building Council, LEED has become the global sustainability certification standard for everything from building design to interiors to whole neighborhoods.  And, oh yes, for people, too! 

Increasingly, public agencies are requiring or incentivizing compliance with LEED standards in new construction. In addition, many believe that LEED accreditation of buildings and neighborhoods offer a real market advantage for people who want to live and work in healthy, environmentally-responsible settings.

Individuals can become accredited as either LEED Green Associates or LEED APs through a program administered by the Green Building Certification Institute. The Institute offers educations and seminars, and certifies environmental expertise through a testing program. 

LEED certification can open doors to the green economy for minority entrepreneurs in architecture, construction, planning, engineering or design. It represents official recognition of expertise in sustainability from the industry, and it is a way for you to become current with state-of-the-art business practices in the new green economy.

Rita Brogan is the CEO of PRR, a public affairs and communications firm based in Seattle that is nationally recognized for its work in social marketing, public involvement, and community building. PRR is one of Washington’s 50 largest minority-owned businesses. Brogan was a recent recipient of the Foster School’s Business and Economic Development Center Asian/Pacific Islander Business Leadership Award. She writes the BEDC Brogan blog series twice a month, focusing on green economy issues with an emphasis on ways that businesses owned by people of color or women can create a competitive advantage.

Foster MBA alumnus lands crossword puzzles in LA and NY Times

What does it take to create a crossword puzzle of sufficient challenge and cleverness to be published in the New York Times? A bona fide polymath, well-read and widely-experienced. A serious student of popular culture, equally versed in history, sport, art, science, architecture, medicine, warfare, European languages—a renaissance man.

Jeff ChenFoster MBA alumnus Jeff Chen fits the bill. An entrepreneur, personal wealth manager, writer, rock climber and world traveler, Chen is also an avid puzzle-solver. A friend turned him on to the venerable New York Times daily crossword a couple of years ago. “It was love at first sight,” he says.

Last year he began composing his own. He’s already had four published in the Los Angeles Times and his first puzzle was recently accepted for the New York Times, a gold standard in the crossworld.

Chen says constructing crosswords is as much a test of strategy as vocabulary. He begins with a theme that ties together four or five long answers, and then builds around them. Devising appropriate, accurate, pithy clues is an art in and of itself.

Crossword puzzles are not a lucrative hobby. Each one takes Chen 15 to 20 hours to complete—before revisions. He has created 30-something puzzles and sold only five, each fetching between $85 and $200.

Entrepreneur, wealth manager, globe trotter, writer
It doesn’t threaten to supplant Chen’s day job. After earning his MBA from the University of Washington Foster School in 2002, Chen helped launch Acucela, developer of a novel treatment for degenerative eye disease. Since leaving Acucela last year, he has done private wealth management and is working on a new venture (currently undisclosed) with some friends. He has been an active board member with local non-profits Big Brothers & Big Sisters, Passages Northwest and Treehouse and recently traveled to Bolivia to examine microfinance operations for Global Partnerships.

Chen is also 90,000 words into his first novel, a story set at school in the mountains of Peru where kids learn how to be secret defenders of justice. “My brother and I were talking about how sad it was that there would never be another Harry Potter book,” he says. “So about two years ago I decided to write something that could start a similar kind of series. I’m not a published author, but I thought I’d give it a try.”

Chen still challenges himself daily with the puzzles of both newspapers (each escalates in difficulty from Monday forward), and says he can complete a New York Times Friday puzzle 75 percent of the time.

Match wits with Jeff Chen’s recent 2010 Monday and Tuesday Los Angeles Times puzzles.

Undergrads consult with farmers over spring break

Over 2010 spring break, roughly 29 University of Washington undergraduate students, most from the Foster School, visited a mountain village in Panama to help the villagers improve their farming business.

The team spent most of their spring break on Machuca Farm in the Cocle province, roughly three hours from Panama City. The farm is a 25-minute hike from the end of the nearest roadway. The community has about 800 inhabitants, but the farm group that the students focused on has 14 members and supports roughly 35 people. The farm grows yucca, plantain, rice, beans, corn and other crops and also raises chickens, goats and fish in a pond. Read more.

Click image above to play video.

Calling all leaders

Guest blog post by Don Nielsen (BA 1960)

Neilsen-headshotNormally, I am a very optimistic person, but I am concerned with what I see taking place or, perhaps not taking place, in all facets of our government. Federal government programs are not working as predicted, and many of them have failed. Looking at the list of bankrupt programs—Social Security, Medicare/Medicaid, the Post Office, Amtrak—is depressing. Most of our states are in serious debt—California could declare bankruptcy in the not too distant future—and finances at the city level are no better. Debt is piling up in all sectors.

One striking statistic, which I think contributes to these failures, is the fact that many of our top-level national and local government officials have never worked in the private sector. Today, we have developed an entirely different occupation—career elected official—that is the norm for those in most of our elected offices.

However, our founders never anticipated that serving in an elected position would be a career choice. It was intended to be a public service. It was something you did to make your contribution to the society in which you lived.

How many times have you heard someone compare the voting process to deciding between the lesser of two evils? Would this be acceptable if you were recruiting a new CEO to run your company? I think not—and it shouldn’t be acceptable for recruiting people to run our government.

This country needs leaders who understand our economic system. The Foster School has recently initiated a major effort in leadership development. Foster students, already considered A-list hires, are being asked to take academic rigor and real world relevance even further. While most of our graduates will go into business, I hope some will think about public service, if not at the outset, then later in their careers. And while many of our alumni are doing great things in the world of business, I hope they too will consider lending their expertise to righting the “ship of state.”

We need leaders who run for office as a public service and who run for office to preserve this wonderful republic that we all love. Leaders, not politicians, will make sure that happens. Please consider running for public office and serving a few years in a public service position as a part of your career plans. Give voters the chance to choose the best officials who can help make the tough decisions needed to solve this nation’s problems.

Don Nielsen is a member of the Foster School Advisory Board and chairman and CEO of Light Doctor, LLC.

This alumnus opinion post is not intended to represent the views of the Michael G. Foster School of Business.

Foster team wins 2010 Global Business Case Competition

UW Foster School of Business undergraduates—Joyita Banerjee, Kaitlin Johnson, Derrick Nation and Jeremy Supinski—won the Global Business Case Competition for their analysis of Boeing’s new 787 Dreamliner. The business case, written by Foster School Professor Suresh Kotha, focused on the Boeing 787 production problems and identifying future directions at Boeing.

gbcc-winners“The Foster team did a great job of identifying the issues of the past and creating solutions for the short term. The team then really focused on how to create stronger opportunities in markets using Boeing’s existing and new competitive advantages, recognizing that Boeing has increased its competitive advantages with the trials and tribulations of the 787,” said Rick McPherson, Foster School management lecturer and the UW team’s advisor.

This team was one of four teams that made the final round along with students from National University of Singapore, Copenhagen Business School, and a mixed global team consisting of a four students from universities around the world (US, Hong Kong, Spain and Singapore). Undergraduate finalists presented to a panel of corporate judges, including the finance director of the Boeing 787 project.

Judges commented that many of the student presentations—in addition to the winning UW Foster School team—were on par or better than those by leading consultants and experienced professionals. And the students pulled their analyses together in a mere 48 hours.

The Global Business Center has put on GBCC for the past twelve years and this is the 2nd time a UW team won.

PHOTO:  The 2010 Foster School winning team with Hans Aarhus of Boeing (third from left) and Foster Associate Dean Tom Lee (far right).

Greenlining: how can we make it work for the Northwest?

Guest blog post by Rita Brogan, CEO of PRR

RitaBroganMost of us know about “redlining,” the historic practice of disinvestment by banks, insurance companies, and other institutions of communities of color and low income people.  In the 60’s and 70’s, there were a flurry of corrective actions at the national level, such as the 1968 Fair Housing Act and the 1977 Community Reinvestment Act.

The concept of “greenlining” was invented to turn redlining on its head by reinvesting in low-income, minority and disabled communities. A multi-ethnic Greenlining Coalition was formed in California in the mid-1970’s. In 1993, they established the Greenlining Institute, a multi-ethnic public policy research and advocacy center. The Institute’s programs range from leadership training to policy advocacy to a Green Assets program supporting sustainable businesses in communities of color.

A recent Green Assets publication, Greening Our Neighborhoods: a Carbon Metric for All, makes a case for block-by-block “whole house” energy retrofits that target low-income neighborhoods that can benefit the most from energy savings. In the process, jobs are created and carbon is reduced. Their case study of 36 homes in Census Tract of Richmond, California documented significant energy and economic benefits from a range of weatherization, conservation and appliance replacement actions.

Funds becoming available through the American Reinvestment and Recovery Act for energy retrofits and green programs can benefit the triple bottom line for natural, economic and social environments. Organizations like the Greenlining Institute are working to position businesses and communities of color to access these opportunities. Their experience and business model offers promising lessons for emerging businesses in Washington and the Pacific Northwest.

Rita Brogan is the CEO of PRR, a public affairs and communications firm based in Seattle that is nationally recognized for its work in social marketing, public involvement, and community building. PRR is one of Washington’s 50 largest minority-owned businesses. Brogan was a recent recipient of the Foster School’s Business and Economic Development Center Asian/Pacific Islander Business Leadership Award. She writes the BEDC Brogan blog series twice a month, focusing on green economy issues with an emphasis on ways that businesses owned by people of color or women can create a competitive advantage.

Foster students consult for Brazilian restaurant in Seattle: part 4

Click on the image above to play video.

On March 13, 2010 the minority-owned restaurant Tempero do Brasil received its final recommendations and a few accounting tools from undergraduate business consultants assigned to help the Seattle restaurant improve its bottom line. The students and their advisors were working with Tempero as part of the UW Foster School Business and Economic Development Center’s annual winter quarter Multicultural Marketing and Business Development class.

In this last installment of our video series following the students, the team members detail in real business terms how Tempero’s business can be improved. The teams had a bevy of advisors over the quarter project from Accenture, a global management consulting, technology services and outsourcing company; PNC Mortgage; and the international communications consultancy Hill & Knowlton.

See the entire 4-part series.