Category Archives: Undergraduate

Is your marketing vision 20/20?

Guest post by Marissa Freeman, UW undergraduate and VP of public relations, UW American Marketing Association

UW American Marketing Association Regional Marketing ConferenceOver 150 students and professionals gathered in PACCAR Hall in February for a full day of keynote speakers, breakout sessions, a case competition and a career fair as part of the first annual UW American Marketing Association Regional Marketing Conference. The conference’s theme was “Vision 20/20: A Clear Vision into Marketing in the New Millennium,” and it was sponsored by Eddie Bauer. Foster’s EY Center for Undergraduate Career Advancement and the UW American Marketing Association co-facilitated the event.

Professionals from 4th Avenue Media, KeyBank, Razorfish, Eddie Bauer and Edelman participated in the conference and students from UW, Seattle University, Pacific Lutheran, University of Montana and Western Washington University attended the conference. During the breakout sessions, marketing professionals led students in discussions about how to stand out in the marketing industry. The breakout sessions covered how marketing in a digital world means understanding the language of a digital market. Mel Carlson, founder of Delightful Communications, shared his take on how social media is more than a way to flood people with information, but rather a way to begin discussions with customers. He made the point that conversations online have shared the B2C dynamic for the better.

Keynote speakers included Lucas Mack, founder of 4th Avenue Media, and William Boucher, senior vice president of marketing at KeyBank. Mack opened up the conference with encouraging our attendees to understand “the why” behind their actions and how it fits into their larger story. Standing out in the marketing industry means finding creative ways to tell a story. Story telling is at the core of the marketing world, as suggested by Mack, and helps marketers connect with their audiences like never before. Adding the story telling element to any marketing campaign allows for the target audience to understand why they should look more into a product or idea. Mack also shared his personal mantra: “Discover truth through story, discover story through truth.” This helped attendees see how crucial it is to be open and excited about advertising and marketing so the truth behind the product or idea’s story comes to life.

Students shared that the conference as a whole was worth the early wake-up call. While marketing classes teach the core ideals of the industry, nothing can compare to hearing from professionals in a more casual, intimate setting. The UW AMA’s Regional Marketing Conference created an environment for students to raise their hand and open up a discussion between marketers in Fortune 500 companies and aspiring marketers.

The buzz throughout PACCAR Hall was one of excitement, intellect and passion. There was an excitement for conversations, the intellect of those professionals in attendance and students’ passion to learn. The UW AMA and EY Center for Undergraduate Career Advancement are proud to have hosted the first annual Regional Marketing Conference and look forward to organizing this event again next year.

$27,500 Awarded to Entrepreneurial Student Innovators

UW EIC 2014 Winners Korvata and NOVA Solar Window
UW EIC 2014 Winners Korvata and NOVA Solar Window

 

The annual UW Environmental Innovation Challenge (EIC), now in its sixth year, challenges interdisciplinary student teams to define an environmental problem, develop a solution, produce a prototype, and create a business summary that demonstrates the commercial viability of their product, process or service.

23 teams were selected to compete in the 2014 UW EIC. Each of these teams proved that students have the potential to address our most pressing environmental needs—alternative fuels,  recycling, solar power, water treatment—with novel solutions that have market potential. After pitching their innovations to a group of 170+ judges—investors, entrepreneurs, policy-makers, and experts from across sectors—the six teams with the highest scores were awarded up to $10,000 in prize money. Congratulations to this year’s winners:


$10,000 Grand Prize
Korvata (University of Washington)
Korvata has created a cutting edge alternative energy product that allows companies to mitigate their environmental impact by replacing the use of nitrous oxide as a whipped cream propellant.
(sponsored by the UW Center for Commercialization)
 
$5,000 Second Place Prize and $5,000 Clean Energy Prize
NOVA Solar Window (Western Washington University)
NOVA Solar Window combines the power producing capabilities of a solar panel with the utility of a traditional window. The utilization of transparent solar energy technology allows solar windows to provide renewable energy where traditional solar panels cannot.
(sponsored by Puget Sound Energy the UW Clean Energy Institute)
 
$2,500 Honorable Mentions
Loopool (Bainbridge Graduate Institute, Seattle Central Community College, University of Washington)
Loopool is reinventing the garment industry business model by creating a closed-loop supply chain, transforming reclaimed cotton garments and textiles into high-quality, bio-based fiber.
(sponsored by Starbucks) 

Salon Solids (University of Washington)
Salon Solids reduces the amount of plastic waste and hazardous chemical consumption that occurs with most hair products. Its six-ingredient shampoo and conditioner comes in solid form, eliminating the need for the preservatives necessary for a product with water in it, and its packaging is recyclable, biodegradable and does not contain plastic, further reducing waste.
(sponsored by Fenwick & West) 

Ionometal Technologies (University of Washington)
Ionometal Technologies has created a metal plating technique that allows for precise metal-on-metal deposition which can be used to repair gold test boards. The Ionometal printer prints metal plates that are smaller than can be seen with the naked eye.
(sponsored by WRF Capital)

 

Check out what guests, judges, and teams had to say about the 2014 UW EIC on Twitter: #UWEIC2014

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.

Bright ideas for Seattle City Light

SCL_WinnersSeattle City Light has been trying to shine a light on the issue of how to derive 15% of its energy from renewable sources by 2020. This deadline based on state legislation presents a clear goal, but not a clear solution. The utility is actively debating how to most effectively balance between hydro-power, wind and solar energies while being mindful of the interests of their various stakeholders. The Foster School of Business partnered with City Light to put teams of students to work on innovative solutions to this issue through the strategic management course.

This required capstone course for all graduating seniors features a customized case competition. Instructors and case writer Alex Murray, a Foster PhD student, worked closely with senior leaders at Seattle City Light to understand this strategic question. Using publicly available research, the case was created and then analyzed by nearly 250 students in 46 competing teams.

The teams were charged with providing recommendations as to what Seattle City Light’s strategic position(s) should be regarding solar energy, including whether the utility should actively promote and develop its use or invest in other renewable energy sources; and how to most effectively market and price various solar projects, including a viability analysis of an existing Community Solar program.

The case study focused on short-term and long-term strategies to satisfy key stakeholders, encourage supporters and overcome detractors. As a publicly owned utility, Seattle City Light operates as a non-profit organization that must balance environmental, financial and social considerations in its decisions. The complexities of the case required a great deal of research and a thoughtful approach.

“The most challenging aspect (of the case) was hashing out with my team what view we were going to take,” case competition participant Cara Haas said. “(Many) of our meetings were solely focused on researching and discussing alternatives before we decided on our approach.”

Her team’s solution: a marketing program, Solar|Sea, to build awareness and support amongst the community and important constituents. The YDC Consulting team members Ken Luginbuhl, Ryker Young, Erin Hoffinger, Julia Kuhn, and Cara Haas attribute their success to the synergies they found in their ideas and team dynamics.

Hoffinger found the most valuable takeaways from the case competition experience centered on knowing “how to speak and pitch ideas to members of the executive board… and being able to think on your feet about (responses) with concrete numbers and analysis in order to answer questions.” These skills she and her peers will surely be able to put to good use as they enter the workforce in just a few short months.

The case competition proved to be another win-win for Foster School of Business students and a local organization. “Seattle City Light was pleased to partner with the Foster School of Business to examine one of the most complex and important issues the utility faces in the medium to long-term,” general manager and CEO Jorge Carrasco said. “It’s also an issue that confronts the industry as a whole. We were excited by the fresh ideas and perspectives the students brought to the table.”

Building the business case for applied learning: Strategic Management Case Competition

Alaska Airlines presentation team
Alaska Airlines presentation team: Kenny Thompson, Tyler Waterer, Mackenzie Meier and Jordan Barr

An Alaska Airlines jet soared overhead as a group of four Foster School seniors emerged from the Customer Services and Innovation team headquarters last Friday. Spirits were soaring too as Jordan Barr, Mackenzie Meier, Kenny Thompson and Tyler Waterer had just presented their recommendations on how to make Alaska Airlines the “easiest airline to fly” to a senior leadership team. The students landed the opportunity to present their ideas to the Customer Innovation team because they outperformed 33 teams of their peers (161 participants) in the fall 2013 Foster Strategy Development case competition.

The competition has been described as the capstone experience to a capstone course. All graduating seniors are required to take strategic management, a course designed to assimilate and apply academic theory to real business issues. The goal is to provide students with practical experience prior to launching into their careers. Offered in the fall, winter and spring and summer, the course draws between 150-300 students per quarter.

Beginning in the fall of 2012, undergraduate program faculty, staff and administrators had the vision of bringing valuable case competition experiences to all Foster School of Business students. Initially, the case competition was optional, done in lieu of a final exam. During the first fall quarter, about 100 students in 25 teams (80% of total class population) participated. Quickly, the value of this experience was recognized by all stakeholders.

According to Clay Schwenn, case competition coordinator and assistant director of student leadership and development, a key learning for students is to be “able to take the theoretical knowledge they have acquired over the years and create something concrete. They generate a set of recommendations to people who could actually implement them.” This is powerful for the students and for the client companies.

Course coordinator Rick McPherson, a veteran of the telecom business for over 25 years, knows the importance of how to “sell” ideas to executives. He sees incredible benefit not only to the students in terms of richness of learning, but also for the companies. McPherson noted “particularly with the presentation to Alaska Airlines you saw how a well thought-out analysis and recommendations were really attractive to a company. Our students demonstrated that they can come up to speed to understand an industry and a business opportunity and create realistic ideas that a business can pursue.”

At Alaska Airlines Customer Innovation headquarters, the moment the students began their pitch, the dozen company leaders in attendance began taking notes, and then asking questions and soliciting the student’s perspective on wide raging issues from the usability of their web interface to competitive market analysis. Student team members Mackenzie, Kenny, Jordan and Tyler’s polished presentation skills left a strong impression on the leadership team. Their confidence, depth of knowledge and ability to respond quickly and thoughtfully to challenging questions will translate well to job interviews and future executive level presentations. From Jordan Barr’s perspective, “the most rewarding aspect of making our pitch to the Customer Innovations team at Alaska Airlines is the thought that our solution could be implemented in the company. It clearly shows that Alaska Airlines didn’t just do this to say they were involved—they did this because they truly want to innovate and do something different. It is an incredible feeling to know that they will be using our advice moving forward in their solutions—and it doesn’t hurt that they want to hire us.” Tyler Waterer commented, “Without Foster’s partnership with Alaska Airlines, we wouldn’t have had the opportunity to have this kind of learning experience (while) still in college.”

The success of the case competitions has focused on sourcing local businesses (past case companies have included: Microsoft, Amazon and Seattle City Light) and creating forward-looking cases on current issues the company is tackling. This approach of what should a company DO, not what they should have done creates urgency for the issue and maximizing the impact the students can make. Stay tuned to see student ideas take flight in other businesses.

It’s a good time to be a woman in business

Foster undergraduates Madeline Down and Natasha Tieu share their thoughts on the Second Annual Women’s Breakfast, which was organized by the Foster School’s EY Center for Undergraduate Career Advancement.

WomenBreakfastThe Second Annual Women’s Breakfast was a success. The attendance from both employers and students was impressive. Women from many companies attended, including Wells Fargo Bank, Deloitte, Concur Technologies, Grant Thornton, KPMG, EY, PwC, West Monroe Partners, Eddie Bauer, The Boeing Company and Liberty Mutual Insurance.

A highlight from the event was the keynote speech by Mary Knell, CEO of Wells Fargo, Washington and Western Canada. She spoke about the challenges and benefits of being a woman in business, and her experience at Wells Fargo and in other positions. Knell shared that there are many challenges related to family and work life, and the social expectation that women should not be the ‘bread-winner.’ However, society is changing and it is an extremely exciting time to be a woman in business. Knell is proof that all women are capable of having a successful career and a family at the same time. She definitely inspired me to keep working towards my goals, and not to let any adversity deter me from reaching them.

At the breakfast, it was amazing to see a room full of women, ranging from freshmen to professionals, getting together to discuss topics unique to women in business. You could feel the tremendous support we had for one another. As a woman in the business school, I look forward to attending next year and creating new contacts and connections within the professional world.

805.5 volunteer hours

Guest post by Cynthia Chiou (BA 2014)

Foster Week of ServiceFoster Week of Service was a tremendous success, and we want to thank everyone within the community for making this possible. Because of your participation, we had a total of 805.5 volunteer hours dedicated to helping organizations across many different philanthropic causes.

Giving back to our community has always been an important aspect of the Foster School, and we hope to continue this event for years to come. Below are some highlights from a great week of service work. There were a wide range of events, surrounding causes such as environmental, health, education, diversity and global aid.

Alpha Kappa Psi Rho Chapter worked to raise money for cancer research and patient support. Their team was able to raise more than $9,000 in concession sales at the Alaska Airlines Arena, of which $900 will be donated to the Leukemia & Lymphoma Society.

StartUp UW teamed up with Mercer Island High School to host an entrepreneurial challenge. Groups were given a $20 bill and went out to create their own ventures. After a week of hosting various fund-raising events, teams were able to raise $609, of which $549 will be donated to The Sophia Way.

Market Driven Investors worked with the Rainer Chamber of Commerce to procure items for their annual auction fundraising event. Students spent the week reaching out to potential donors and working directly with the chamber to strategize a successful procurement process.

Business Leaders in Healthcare worked with the Lifelong Aids Alliance on packet stuffing for the AIDS Action & Awareness (A3) Day.

Business Impact Group volunteered at the Boys and Girls Club of Renton Skyway, working with students on their social venture project, Marketplace. They also spent time talking with students about college preparation and playing gym games.

The Montlake Consulting Group organized a Foster Community Street Clean with students through campus and the University District.

AIESEC and CISB hosted a raffle fundraiser for disaster relief to donate proceeds to the National Alliance for Filipino Concerns.

Delta Sigma Pi and ALPFA co-hosted a dodgeball tournament to donate all proceeds to UNICEF for typhoon relief efforts.

The 2014 Foster Week of Service was generously sponsored by UPS and Target.

Sten Karlholm combines his passions for Swedish and sports

Guest post by Sten Karlholm, Foster senior and Certificate of International Studies in Business student

SwedenSportsInternBlogMy education seems to have taken the scenic tour, as my passion for traveling combined with my studies opened up opportunities and happily postponed my graduation. The journey all began while finishing my third year at UW, which I spent as an exchange student in Uppsala, Sweden as part of the Certificate of International Studies in Business Program (CISB). I had accomplished many of the requirements during this study abroad year, but there was one last challenge I was looking to complete during the summer: the International Business Practicum. It was mid-June and I had been applying and seeking out internships in Sweden for the past two months to no avail. As the long days of the Swedish summer began to come into full effect, there was a sense of anxiousness and uncertainty. I began preparing for the expectation of autumn quarter and flight back to Seattle. I had applied to one job on a whim, with the tag line “Passion for sports.” I had emphasized my passion for the game of basketball and my affinity with golf in my cover letter. After a telephone interview and my first ever sit down interview conducted in Swedish, I was offered a job as part of the opening team for a new Nike Factory Store in Stockholm.

I accepted this opportunity to further my proficiency of the Swedish language and master the fundamentals of Nike in the retail setting. I was dedicated to showing a high level of commitment on the job, tackling the unfamiliar terms of shoe specifics in Swedish while giving the best customer support. Recognition came my way as I took over further responsibilities like closing the store, accounting and submitting daily sales reports.

Nearly a year had gone by and it was time to continue my studies at the Michael G. Foster School of Business. This period away gave me the time to reflect on what I wanted to aim for within a future career, and influenced and ignited my passion for fashion and sports. With this goal in mind, it motivated me to keep looking for opportunities and ultimately led me to where I am today as the product management intern for Club and Balls within Nike Golf at the European Headquarters in Hilversum, The Netherlands.

Keeping up the pursuit of acquiring an international internship paid off as I have now spent seven months learning the ins and outs of Nike and the European marketplace. Every day I am conducting competitor analysis of the club and ball market for various regions and currencies in Europe. I’ve also been an integral part of updating pricing and catalogs for our recently released Covert 2.0 and upcoming RZN golf ball. I was even presented the chance to assist in the set up and lead the tear down at the Nordic Golf Trade show in Sweden due to my language proficiency. Not only was this a phenomenal experience as an intern, but as a result of my abilities I was selected to help out during our go-to-market sales meeting in Spain.

I had finally achieved the goal of receiving an international internship, but the experience is so much more than ticking a box for completion. The lessons learned and experience gained will be invaluable as I continue to pursue a career within international business. I am truly grateful for the opportunities that I’ve received and the support from my peers and colleagues along the way.

Living your academia: marketing/management 445 class for undergraduates

Senior Ivette Aguilera reflects on her experience in the Marketing/Management 445 Class and Student Consulting Program.

Ivette Aguilera with Bill Low
Ivette Aguilera, BA 2014, with Bill Low, her Rotary Business Mentor at the Rotary Club of Seattle luncheon.

Throughout my time in Foster, I have lived through so many incredible experiences, including two study abroad opportunities to China and India, where I was able to see and experience major business practices that were very different when compared to the United States. I have also interned with PricewaterhouseCoopers, one of the Big Four accounting firms worldwide, and this coming summer will be my third summer internship with them.

Growing up, I first wanted to be a doctor.  I pictured myself analyzing patients, checking their symptoms, figuring out the root of their problems, and of course finding their cure. After watching shows like Grey’s Anatomy, House, and other medical television shows I realized that the concept of helping others was fantastic, but the idea of having physical contact with my patients was not so much—yet I still wanted to become a doctor and that is when consulting became a true interest of mine. My patients would not be human beings, but companies; I would not be checking for common colds or flus but for holes in company’s’ operation systems and pitch marketing plans to execute. I would be the doctor for businesses, Dr. Aguilera; which I believe has a nice ring to it.

Unfortunately, after multiple conversations with consultants, I soon realized that in order to be a great consultant you really need experience. It isn’t something you can’t pick up from a book; it is a learning process.  The Consulting and Business Development Center offers students the Marketing/Management 445 class that is specifically designed to help students develop the essential business skills by having them be consultants for a real life company. It is an opportunity to get real hands-on exposure and live your academia, instead of just reading about it.

Through this process I have learned how to interact with my client, how to manage a successful meeting, and I have gotten to know the resources of the University of Washington both on and off campus. One of our most valued resources being the Rotary Mentor assigned to each group. My team has the privilege of having Bill Low as our mentor, and I actually would like to take this opportunity to thank Bill for his mentorship. Just last week we were preparing a survey for our client’s customers.  Our team thought our survey had well thought out questions, but when we showed it to Bill he opened our eyes to see that the questions were way too broad.  In order to understand the client’s problems we had to develop much more specific survey questions. Let’s just say that from now on our team is thinking a lot more about the specific details for EVERY assignment.

As I said before, this coming summer I’ll be an intern with PriceWaterhouseCoopers’ Advisory Line of Service. At the end of the summer my performance review will determine if I get a full time offer starting January 2015. However, thanks to the Marketing/Management 445 class, I feel much more confident and prepared with what I am doing. What I’m learning this quarter will definitely give me a head start on my work this summer.

This class continues to challenge me in ways that significantly improve my consulting skills set. It has given me a chance to network with professionals who have passed down their wisdom, and more importantly it has allowed me to make mistakes and learn from them along the way. So thank you to the professors, the Consulting and Business Development Center, the mentors, and the Rotary Club of Seattle for allowing us, (the students) to make mistakes yet continue to learn from them.

Undergrads meet alumni at networking night

The Foster Alumni Relations team hosted a networking night as a way for alumni and current undergraduates to connect. Twenty-five alumni and 100 students attended. The event allowed young alumni to contribute to the Foster community by connecting with students and sharing their stories, while also building their professional network with other Foster alumni. As for the students, Zak Sheerazi, Assistant Director of Career Development at the Foster School, said, “This event gives them better insight into different careers as they move forward from Foster. But the ultimate goal is to connect current students with past student in order to help them navigate the transition from academics to the world of work. And potentially down the road have a mentor.”

Check out our photo blog of the event below.

Undergrads meet alumni at networking night

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