Category Archives: Faculty Perspectives

10th Biennial International Business for Community Colleges Conference

Intl Bus Comm College FacGuest Post by Ian Priestman, International Business Professor at Linn-Benton Community College, Oregon, who attended the 10th Biennial International Business for Community Colleges Conference with a travel grant from the Global Business Center. 

Being an Englishman in America, I get a great kick out of going to conferences in the US, especially to places I wouldn’t get the chance to go to if I’d have stayed in England. There’s something exciting about saying, “I’m going to Washington” or, “the conference is Colorado” or even Michigan. It is these places that us Brits see in the movies or hear about in songs all the time but only ever dream about going to. Instead, the Brits attend conferences in rain soaked Manchester, in dark stone buildings in Leeds or in the concrete jungle of Birmingham. These courses in the UK take place against the backdrop of the perpetual dark cloud that hangs over the country, threatening to rain at any moment. On the other hand, no doubt these English towns are of the same interest to the US anglophile or history chaser as American places are to me.

This speaks to my first point I gleaned from the 10th Biennial International Business for Community Colleges Conference. There is a myriad of motivations and interests that we and more importantly our students have for studying international disciplines. Writing this post inspired me to think about the factors that had led me to the conference. I concluded with this: to make an international class or program, modern, and dynamic, we have to tap into our student’s motivations and interests in all things international and allow our students to develop these interests.

I now realize my reason for living and working in the US and becoming a citizen (and with my accent, me being an American really confuses my students!): It was my love of vacations as a child. Vacations gave me wanderlust, and as a direct result, there I was at the conference in Michigan as an International Business professor. With my love of vacations in mind, I realized that although a student might have no international experience other than a magical spring break vacation in Cancun, there’s plenty of scope to apply international business concepts to the tourist industry in Cancun or even another resort. Another example:  If a student enjoys British TV miniseries such as Downton Abbey or Brit comedies or even our musical output, the British movie or music industry would provide a great structure for the student in which to house international business concepts.

So now I want to spread my wanderlust (or wanderdust as I prefer to call it) to my students. How did the international business conference help me? The presentations on the regions of the world were fascinating as possible research projects and destinations for my students. Then, after hearing about the possibilities, the next piece of the puzzle was already waiting for me.  Waiting in the wings were sessions on raising the profile of international business in community colleges, internationalizing existing curriculums, and the possibilities for study abroad programs.

The conference gave me the tools with which to work in spreading the wanderdust. Great resources were suggested, notably by Tomas Hult and also the ‘Global Edge’. These resources will help me make my case at my community college for emphasizing the importance of international business courses. Finally, it was suggested that I research the availability of funds to attend further conferences thereby sustaining my enthusiasm for international business. Such funds are out there, you know- just like international business experiences and opportunities for our students.

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.

Democratic versus authoritative leadership

Guest post by Bruce Avolio, Executive Director of the Center for Leadership and Strategic Thinking and Marion B. Ingersoll Professor of Management. 

Personally, I believe in more inclusive, transparent and democratic leadership, even at Universities for God’s sake. However, when you witness what has been created in Dubai and Abu Dhabi, there is something about tribal authoritative and authoritarian leadership that cannot be ignored.  Such leadership builds cities very quickly, efficiently and majestically…well, depending on your taste in architecture. Indeed, the parallels in the world that I could think of where similar leadership has had such positive impact are in places like Singapore and Chicago under the leadership of the Mayor Daley’s. When there is chaos to be controlled and a myriad of interests to be aligned, sometimes authoritarian coupled with authoritative leadership—if they know what they are doing, can be very effective. Yet, to sustain this model of society and leadership is tough, in that it oftentimes in the case of a Dubai or Abu Dhabi depends on the choice of the ‘right son’ or the ‘right brother’ in the succession plan.

A controlled approach to leadership in Dubai and Abu Dhabi

Guest post by Bruce Avolio, Executive Director of the Center for Leadership and Strategic Thinking and Marion B. Ingersoll Professor of Management. 

There are several things that one cannot ignore when traveling in Dubai and Abu Dhabi. First, in 42 years since the founding of the United Arab Emirates, these global citizens have built massive cities with the most impressive and innovative architecture on earth. Second, you cannot find a more controlled society on earth that doesn’t appear to have any interest in overthrowing the ruling families. Indeed, what one sees in this part of the world are sheer opulence everywhere, and a largely satisfied group of indigenous citizens. The reason being is that the rulers in this part of the world, rule with an iron fist, but they also rule with tremendous generosity and smarts towards citizens. If you are a so-called Emirate and not living well, call your ruler because you are clearly missing out on all of the bennies, e.g., subsidized housing, utilities, car payments, healthcare, schooling, higher educational scholarships, or a new iPad!

The paradox of reduce-reuse-recycle

2011 EIC Grand Prize Winner Voltaic shows off their electric vehicle drive train
2011 EIC Grand Prize Winner Voltaic shows off its electric vehicle drive train

Guest post by Daniel Schwartz, Chair, UW Department of Chemical Engineering

When I think Cleantech, my mind goes straight to the triangular logo on my waste container at work: “reduce, reuse, recycle.”  These three words are central to most enduring cleantech innovations, though sometimes in paradoxical ways.  “Reduce” is the most prone to paradox, since reducing one thing generally happens by increasing another. Let’s explore this “reduce” paradox via two well-known examples in that space.

In recent years, Washington has done a good job of reducing its greenhouse gas emissions. Today, the average American emits 41% more greenhouse gas than the average Washingtonian (2012 State Energy Strategy report). We reduced our emissions by increasing our reliance on hydropower. Here’s where the “reduce” paradox comes in. Increases in hydropower have led to fewer salmon in our waters. Thinking long term, if we want to grow our economy and further reduce our emissions while avoiding consequences like this, we’ll need major innovations in the cost and performance of solar energy and grid-scale batteries. And we’ll need to make sure those innovations don’t lead to a depleted Earth.

The same “increase-to-reduce” paradox holds in transportation. Hybrid and all-electric cars reduce emissions by increasing efficiency. The 787 Dreamliner reduces its fuel use, in part, by adopting the “more electric-aircraft” approach. Innovations in transportation electrification are largely tied to electrochemical energy storage and conversion (batteries, super-capacitors, and fuel cells) as well as control systems that enable vehicle-scale “grids” to operate reliably on their own and when plugged into a utility’s grid. Transportation electrification is currently going through painful growing pains. Have no doubt, we are just seeing the tip of the iceberg in transportation electrification, but as transportation electrification increases, we need to use foresight to adapt our current electrical infrastructure, or we’ll break it.

My colleagues at the UW Institute for Molecular Engineering and Science are among the leaders charting a sustainable energy pathway that balances technical innovation with the economic and social dimensions of scalable energy. Students, too, are looking at the paradoxes – the potential Achilles heels of cleantech – and finding potential for enduring innovations. I am looking forward to seeing how students at the UW Environmental Innovation Challenge apply their understanding of cleantech and “reduce, reuse, recycle” – paradoxes and all—  to innovations that will improve our world.

The vastness of the Middle East

Guest post by Bruce Avolio, Executive Director of the Center for Leadership and Strategic Thinking and Marion B. Ingersoll Professor of Management. Bruce traveled with Technology Management MBA students as part of their International Study Tour to Dubai and Abu Dhabi.

I, like the students from Foster’s TMMBA program and staff, have visited many parts of the world. However, none of the staff or students had been to the Middle East. Of course, when we say Middle East, it’s like saying North America, in that the Middle East is made up of many different types of people, regions, climates and of course cultures. My goal for this trip was to develop our respective global mindsets as a basis for being a global leader—our assumptions, framing, perceptions and knowledge about other cultures. During our time in Dubai and Abu Dhabi, we certainly triggered A LOT of challenges to our respective global mindsets. Indeed, during our first corporate visit at Thompson Reuters, one of the top managers hosting us said, “Next time you hear the words—The Gulf—on CNN or Fox or where ever, I hope you consider how vast and diverse an area that reporter is referencing.” Boy was that ever an insight to retain in our global mindsets!

Bruce Avolio TEDx video: showing up for leadership

Bruce Avolio, executive director of the Foster School’s Center for Leadership and Strategic Thinking, spoke at TEDxUmeå on January 17, 2013. The theme was “Leadership, creativity and innovation” and Avolio’s talk was titled, “Showing up for leadership…Ta Dah!” In his talk Avolio discusses three types of leadership: leadership that grows people, leadership that sustains people and leadership that diminishes people.

When a leader grows people, she empowers them to take ownership and challenge conventions. Leaders who grow people share a common trait—they all had people in their lives who set extremely high expectations for them. When they failed to meet these expectations, they were supported and encouraged to get up and do it again, and this process was repeated over and over. As a result they developed the ability to transform other people into leaders.

Avolio shared examples of how people can show up for leadership. You can be a leader who grows people by:

  • Showing up with great expectations.
  • Showing up claiming leadership.
  • Showing up over and over.
  • Showing up with everyone.

Avolio said, “We can all grow a better world together. Why don’t we do it?”

Watch the 20-minute video.

Foster finance workshop explores the ABCs of HFTs

Guest post by Jonathan Brogaard, an Assistant Professor of Finance at the Foster School

Jonathan BrogaardIs high frequency trading good or bad for financial markets? In January, the Foster School Department of Finance and Business Economics hosted a high-level summit to discuss how the increasing automation of financial markets is affecting investors, market volatility and order execution.

The discussion brought together Foster finance faculty and senior executives from local investment firms.

As an early investigator of this emerging topic in finance, I was asked to present the leading academic findings.

First, a bit of definition. High frequency trading (or HFT) is the fastest subset of computer-based algorithmic trading. HFTs act either as market makers or exploit inefficiencies in the market. They buy and sell constantly, hold very little inventory at any given time, and end each day with zero positions. In short, they run a volume business, picking up fractions of a penny over and over and over again. This leads to regular—and sometimes extravagant—profitability.

But HFTs are shrouded in mystery. Little is known about these firms and their algorithms that dominate market trading. HFTs are obtuse and generally unregulated. And they have been linked to scary events such as the flash crash of May 6, 2010.

A small group of academics, including myself, study the effect of HFTs on market quality—how well markets operate. The consensus of our findings is that, on average, HFTs are improving the quality of markets. That is, they are adding to price discovery (making prices more informative), increasing liquidity (making more shares available to be bought and sold), and decreasing spreads (the price difference between what a buyer and a seller will pay).

But what are traditional investors experiencing in the markets? Our workshop guests voiced a variety of opinions on HFTs, and shared experiences that will help me and other researchers fine-tune our measurements to better reflect the realities of an increasingly computerized market.

We certainly share their concerns about the lack of understanding around high frequency trading. We have much to learn. Do HFTs increase or decrease the risk of flash crashes? What is their presence doing to investor confidence? Are they beneficial in the market for smaller stocks?

We tend to fear what we don’t know. But high frequency trading is certainly here to stay. So we’re working diligently to shed light on this powerful new force in the financial markets.

Jepson School 20th anniversary

Guest post by Bruce Avolio, Executive Director of the Center for Leadership and Strategic Thinking and Marion B. Ingersoll Professor of Management

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I recently attended the Jepsen School’s 20th anniversary celebration in Richmond Virginia. The Jepsen School was the first school in USA to focus specifically on leadership as an undergraduate major as its main thrust and did so taking a broad humanities perspective. They have now graduated over 1,000 students who approach leadership with a very, very broad mindset from the great books of literature and history to the R.O.I. focus of corporations.

During one presentation at the conference, we talked about a program called Shakespeare Behind Bars. From its website, “Now in its 18th year, Shakespeare Behind Bars is the oldest program of its kind in North America. SBB programming serves incarcerated adults and youth using exclusively the works of William Shakespeare.” So try to imagine someone from the African American gang in a correctional institution working with someone from the white supremacist gang on Hamlet. That is exactly what happens, and this program has participants with a significantly lower recidivism rate, lower rate of violence and infractions, etc. So next time someone is in a brainstorming session with you, and they suggest something so out of the range as Shakespeare Behind Bars must have been when it was first proposed, I suggest you suspend your judgment!

Avolio in Australia: a powerful reminder

Guest post by Bruce Avolio, Executive Director of the Center for Leadership and Strategic Thinking and Marion B. Ingersoll Professor of Management

The picture is of an empty and very long table on South bank in Melbourne. The organizers wanted to send the message that a lot of folks would go without a holiday meal if folks didn’t donate to help out. What a powerful symbol…empty table with lots and lots of seats needing to be filled.