Category Archives: Student Life

MBA study tour in the Middle East

Guest post by Thomas Potier, Foster MBA student and 2010 study tour participant

Middle_EastWe landed in Dubai after 16 hrs of flight in a top-notch triple 7 with the widest screen entertainment units that I had ever seen. Getting out, I remember feeling the same as I felt when I landed in 2001 in Beijing: disconnected from my reality. I felt quite lost until I heard the familiar voice of Florence (MBA student trip leader): “Girls, there’s a restroom here. I’ll wait for you if you wanna go.” We were in good hands.

Wonders of the time spent in Dubai, Abu Dhabi and Muscat flash before my eyes as I write this: So much to remember. The first of these wonders are the bonds I created with the Foster MBA and faculty group. I sometimes knew them—as classmates or teacher—and sometimes didn’t. The relationships I forged in the Middle East will always be somewhat stronger and tighter.

There is also this culture clash:

  • These female master’s students with a veil whom we were asked to talk to in a group with at least one female representative
  • Sam at Sport City in Dubai saying: “We build first and see what to do with it.”
  • Very formal presentations, especially when His Excellency showed up
  • The desert full of buildings and expensive cars….

Middle_East2Finally, there was the fun. The desert tour, snorkeling tour and Sheesha evenings.

Taking the plane back home, I pictured myself having an internship at Masdar City—building the least energy-consuming city, the first carbon-neutral city for one of the highest energy-producing countries.

Marrying antonymic themes is what the Middle East thrives at:

  • Cities with a lot of water inside the harshest deserts
  • Providing a lot of fun with great openness in a very austere society

I hope one day I will have the chance to go back and marvel again.

The Global Business Center at the University of Washington Foster School of Business offers students study tours and other international experiences each year. Study tours expose students and faculty to businesses, cultures and adventures to gain global perspectives and augment academic studies. 2010 was the first year the Global Business Center sent MBA students to the Middle East, specifically United Arab Emirates and Oman. They were accompanied by Foster School Assistant Professor of Finance Thomas Gilbert.

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.

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).

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.

Winners of UW Environmental Innovation Challenge

“It’s like a science fair on steroids.” That comment by judge and venture capitalist Loretta Little (of WRF Capital) captured the essence of the University of Washington Environmental Innovation Challenge. 19 student teams from 7 Washington state universities and colleges met in Seattle on April 1 to pitch clean-tech, energy-saving business ideas and prototypes to more than 100 judges, venture capitalists, angel investors, professors and business leaders. Watch video highlights.

EIC_EnvitrumGrand prize = $10,000

A team of University of Washington engineers with a business called EnVitrum won the $10,000 grand prize for their innovative glass recycling and green building technology that converts glass into bricks that are stronger and cheaper than masonry and have a dual purpose of cultivating plants.

Second place + honorable mentions = $12,500

Second place with $5,000 went to Triangle Energy (a University of Washington team consisting of two Foster MBA students, one UW doctoral student in mechanical engineering, one UW doctoral student in biochemistry and one UW chemical engineering undergraduate) who created a mobile bioreactor that converts solid biomass into synthesis gas for energy use. Three honorable mention awards of $2,500 each went to interdisciplinary teams of engineering and business students: NanoWAVE (North Seattle Community College) created an energy-efficient, cost-effective LED lighting alternative for growing plants in nurseries, greenhouses and indoor gardens; iDriveSmart (University of Washington) created software that helps predict and encourage fuel-efficient driving; and Idyll Energy Solutions (Seattle Pacific University) created a solution to the idle, wasted energy of household electronics.

The 2nd annual UW Environmental Innovation Challenge was a collaborative venture between the UW Foster School of Business Center for Innovation and Entrepreneurship, UW College of Engineering and UW College of the Environment. Learn more or get involved in next year’s Challenge.

Video: Cherry blossoms in full bloom on UW Seattle campus

It’s a cruel joke. Cherry blossoms are at their peak over spring break when students have fled the campus for vacations and a little off-campus reprieve between winter and spring quarters.

Seattle wakes up each spring and begins teeming with outdoor activity in anticipation of longer days, warmer weather and fewer rainy afternoons. UW campus, in the heart of the Emerald City, is a foot-friendly space of natural and architectural wonder. We hope you find a little inspiration in this cherry blossom video.

The UW Foster School of Business is just a few steps from the quad and Yoshino cherry trees. Considering a business degree? Prospective students might find this an ideal time to visit the Foster School and check out life on campus. Visit the undergraduate or graduate program offices – Full-time MBA, Evening MBA, Executive MBA, Master of Professional Accounting – or just get a feel for life around the UW Seattle campus by walking around. Spring is a perfect time to stroll.

Foster students return to Panama for spring break

This spring break roughly 29 University of Washington students, most from the Foster School, will descend on a mountain village in Panama to help the villagers there improve their farming business and hopefully rise a little further above subsistence-level farming.

The trip was set up by the Global Business Brigades, a nationwide student-led organization with a UW chapter. A dozen students are also getting course credits for the trip through the Foster School. The lead UW student organizers—Foster students David Almeida and Blake Strickland—said the team plans also to revisit a coffee plantation where 18 Foster students spent the 2009 spring break. Almeida’s group will evaluate the impact the students had on the coffee plantation and find out if the farmers have put into practice the team’s recommendations.

“All 29 of us are extremely excited for this chance to make a real and positive impact in the lives of people living in Machuca,” Almeida said. “Through working with the farmers, living in the village, embracing their culture, and making a difference, the next week will be sure to change our lives as much as theirs.”

This year, the team will spend most of their spring break on the Machuca Farm located 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 are focusing 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.

In the team’s trip preparations, the undergraduates identified four main areas where they hope to have an impact—processing chickens, bread making, goat milk products and organic products.

Almeida and several other team members plan to post updates on this blog. Stay tuned.

Mentors do matter

Students at Lavin Entrepreneurial Action ProgramTake just a minute and ask yourself: Who’s the person who has played the most influential role in your career?  Chances are it was someone who listened to your ideas and gave you feedback—but left the real decision up to you. Or someone who encouraged you just at that point when you were about to give up on your plan. Or someone who made a few key introductions that opened a huge door for your start-up.  A mentor. And mentors REALLY matter when you’re a young entrepreneur.

The Center’s Lavin Entrepreneurial Action Program, named for Alberto Culver’s Leonard Lavin, admits freshmen to an “honors program” in entrepreneurship. No, it’s not based on the students’ GPA or SAT scores, but rather on their level of entrepreneurial drive. Many of these students started their first companies in high school, and most them are already thinking about their next start-up.

Part of the Lavin Program’s promise is matching the students with entrepreneurial mentors, and CIE’s 28-person Advisory Board volunteered to be the “first line of mentors.” At the Center’s winter board meeting, director Connie Bourassa-Shaw moderated a discussion on mentoring, which elicited comments and stories from both board members and students. The group then began “mentor speed-dating,” with 10-minute intervals for striking up new conversations.  “I’d expected the students to be a little reticent, a little shy,” said Lisa Hjorten, the founder of Informia, “but there was none of that. The Lavin students had business cards ready to hand out. And had come to the meeting knowing which of us they wanted to meet. I never could have done that as a sophomore!”

There are now 20 mentor-student pairings going forward, with more on the way. Read more about the Lavin Program.

First legislative visit: a student’s perspective of minority business policy

Guest blog post by Caroline Gabriel, Foster undergraduate student

Caroline Gabriel at WA State CapitolLegislature.  Am I the only one who cannot correctly pronounce the term? I looked it up and found it is pronounced “lej-is-ley-cher,” courtesy of dictionary.com. I mention this word for a reason. I am a student assistant at the UW Foster School Business and Economic Development Center (BEDC). Since coming to the University of Washington, I have had many amazing experiences.

One memorable experience transpired the morning of March 3 when I journeyed with my boss and BEDC Director Michael Verchot to the marble steps of the state’s capitol to attend a hearing of the Washington State Legislature Community & Economic Development & Trade Committee. Here, Michael gave a speech on Washington small minority-owned businesses. He drew attention to some startling data from the U.S. Bureau of Labor Statistics—that while Caucasians have dealt with increasing rates of unemployment, minorities have dealt with outstandingly high rates for many years. With African-American unemployment rates at 7.8% in 2006 to 12.9% in 2009 and the Caucasian unemployment rate at 4.9% in 2006 and 8.8% in 2009, it represents a stark contrast. This fact seems to have been swept under the table of economic affairs recently. One thing the BEDC director was trying to convey was how existing policies address the problems of Caucasian businesses, such as high taxes and regulation red tape, but have failed to subscribe policies to the more prominent and recurrent problems within minority businesses.

Friendly legislators

Sitting from left to right were representatives Parker, Orcutt, Smith, Kenney (madam chair), Maxwell and Chase.  All dressed in business attire, some appearing happier than others. I always imagined representatives, any politicians really, to be boring, dry shells of government policy. I was proven wrong as I saw Representative Smith chatting away with a broad smile. Perhaps I had a misguided opinion of the people in power. It was interesting to listen to, after Michael’s presentation, a number of representatives quickly responding with very intellectual questions. I suppose you have to be intelligent and likeable to be a politician, but I was surprised by their excellent speech, even their perkiness.

Not-so-friendly questions

They asked very direct, yet sometimes infuriating questions. It was disheartening to hear them inquire why some data was not present and if BEDC could include it in its next report. The truth is that the economy, as the statistics describe, affects everyone. As a result, BEDC does not have enough funding to conduct such extensive surveys as the legislature would have liked. It seems meetings such as these would be more efficiently spent if the representatives asked beforehand what exactly they were looking for as far as numbers and statistics were concerned, rather than reprimanding the presenter about limited information after they have put much time and effort into their presentation.

Okay, I am done venting. As for the whole meeting, it was conducted with civility; everyone addressed each other formally, never interrupting, and everything else went very smoothly. I had the pleasure of sitting at the presenter’s table and was recognized for collecting and analyzing the data, and was able to get an up-close-and-personal view of committee procedures and protocols.

Despite going to a university, I have met some really naïve people. People who cannot pronounce “legislature” or do not know how to get to UW’s Red Square are just victims of naiveté. I would be one of them. The only way to cure this is to experience more of what is right at our fingertips. I encourage you to sit in on a committee meeting. It was both educational about government policies and eye opening to glimpse everyday tasks of policy-making.

3 teams win high honors for global solutions to poverty

gsec-nuruGrand Prize of $10,000

The 2010 Global Social Entrepreneurship Competition winning team was Nuru Light, also winner of the People’s Choice Award and Investor’s Choice Award, for their affordable, clean, safe alternative to kerosene as a light source in Rwanda. Nuru lights can be recharged quickly via the world’s first pedal generator. Team Nuru consists of students from Adventist University of Central Africa and the University of Massachusetts Medical School. Photo (L-R): Charles Ishimwe, Bill Gates, Sr., Max Fraden

 

gsec-touchhbGlobal Health Grand Prize of $5,000

UW Global Health’s largest prize went to TouchHb, an affordable, prick-less anemia scanner used by low-skilled village health workers in rural India that measures, helps diagnose, monitors and screens for anemia. Team TouchHb consists of two doctors from the Maharashtra University of Health Sciences.

 

 

 

gsec-maloJudges’ Choice Prize of $3,000

Judges this year created a spontaneous award and personally pitched in a total of $3,000 for an on-the-fly Judges’ Choice Award which went to Malo Traders for their business plan that provides technological consultation that minimizes risks of post-harvest losses for small-scale rice farmers in Mali. Team Malo consists of two brothers who grew up in Africa and are now pursuing degrees—one is a PhD student in political science at Purdue University and the other a business student at Temple University.

The Global Business Center at the UW Foster School of Business puts on the Global Social Entrepreneurship Competition each year – when international student teams are coached, critiqued and judged by Seattle-area business leaders. A record number of applicants (161) from around the world applied for the 6th annual event with innovative ideas to help solve global poverty. Watch the video.