“I didn’t really expect to start my own business,” says Todd Hansen, looking back to his time as an undergraduate studying biochemistry at the University of Washington. But he had always been interested in clean technology and the reduction of fossil fuels, so when he discovered a really interesting concept for reducing emissions, he decided to pursue it. “Lo and behold,” says Hansen, now the co-founder and CTO of InTheWorks, an engineering and design development company, “that concept turned out to have a lot of potential.”
InTheWorks’ patented product is “essentially a unique emissions control system,” says Hansen. The company holds a total of 4 patents on a catalytic converter that can be used with any type of gasoline-fueled internal combustion engine to significantly reduce emissions, increase fuel economy by 4% to 5%, and increase horsepower 4% to 6%. And where other ways to improve fuel economy and power (aerodynamics, tire redesign, weight reduction) are costly, installing InTheWorks’ converter actually lowers manufacturing costs by 12%, due to reduced precious metal content.
InTheWorks’ technology was impressive from the get-go (the company won a prize in the 2009 UW Environmental Innovation Challenge by focusing on marine engines), but it’s in the past few years that Hansen and his team—CEO and co-founder David Endrio and executive vice president John Gibson—have seen tremendous progress. In 2011 InTheWorks’ prototype passed both EPA and CARB tests with flying colors, and further, more extreme testing in 2013 validated the 2011 results. The company has three full time employees, has raised $1.5 million in funding, and recently formalized a partnership with ClaroVia Technologies (known for its OnStar vehicle navigation system).
So what’s next for InTheWorks? “We’re primarily focused on licensing our technology,” says Hansen, “and we’re ready to reach out to OEMs [original equipment manufacturers] and Tier 1 suppliers.” At the same time, InTheWorks plans to pursue in-house manufacturing and distribution of marine applications of its technology. “And we’re always looking for additional technologies to add to our portfolio,” says Hansen, so his focus is already on the next innovation: “Diesel is on the horizon,” he says, “and we’re optimistic that we will be noticed by game changing companies.”
Entrepreneurship education is in demand. In fact, it’s one of the fastest growing subjects on today’s college campuses. According to a 2013 paper published by the Kauffman Foundation, only 250 entrepreneurship courses were taught in the United States in 1985. By 2008, that number had ballooned to 5,000. Today, over 9,000 faculty members teach at least one course in entrepreneurship and more than 400,000 college students take classes on the subject. As the number of future founders and entrepreneurs taking these classes continues to grow, it is crucial that faculty deliver the best possible content, developed from cutting-edge research. Enter the West Coast Research Symposium on Technology Entrepreneurship, an annual conference that brings together scholars from major universities to share their latest insights into the world of innovation and entrepreneurship.
In early September, 79 faculty and PhD students from across the U.S. and overseas gathered for the 12th annual WCRS, held at the UW Foster School of Business, to collaborate and gain valuable feedback on novel research in areas such as nascent markets, technology innovation, and funding. This sharing of ideas often leads to stronger, more robust research that will soon find its way into hundreds of college classrooms. When Abhishek Borah, assistant professor at the UW Foster School of Business, presented his paper on social media’s impacts on IPO underpricing, his premise was that underpricing was something that underwriters, investors, and firms all want to avoid. However, faculty members from the University of Alberta and Santa Clara University encouraged him to avoid a purely finance-based view of IPO underpricing and probe deeper into the motives of the bankers involved in the process, to better understand how different types of actors impact IPO pricing. Feedback like this results in more sophisticated research, increasing the likelihood of publication in top-tier journals, and ultimately improving the education of the next generation of entrepreneurs.
A key element of the WCRS is a one-day doctoral workshop, held prior to the conference, that provides an opportunity for PhD students in entrepreneurship to present their research interests, learn what goes into quality research, and gain wisdom from leading scholars in the field. This workshop preparation is invaluable for PhD candidates. As Suresh Kotha, professor at the UW Foster School of Business and one of the leaders of the WCRS, explained: “Many of the faculty presenting this year attended the conference as doctoral students. It was wonderful to see how they’ve blossomed into successful and confident faculty members.”
The West Coast Research Symposium and Doctoral Workshop are sponsored by the University of Washington, Stanford University, University of Oregon, University of Southern California, and University of California Irvine, with a grant from the Ewing M. Kauffman Foundation.
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.
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.
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.
Business Leadership Celebration honors remarkable alumni, sings a Disney tune
The University of Washington Foster School of Business welcomed the CEO of Disney and honored three remarkable leaders—a healthcare entrepreneur, a pioneering academic and a city-defining developer—at its 23rd annual Business Leadership Celebration at Bellevue’s Meydenbauer Center last night.
The evening’s hosts were UW Regents Marnie Brown (BA 2014), a student in the Foster School’s Master of Professional Accounting Program, and Orin Smith (BA 1965), retired president and CEO of Starbucks.
In his keynote conversation, Robert A. Iger, chairman and CEO of the Walt Disney Company, shared his essential traits of a great leader: curious, optimistic, focused, fair, thoughtful, decisive, risk-taking, courageous, innovative, and a perfectionist to boot.
In Q&A with ABC News correspondent Cecilia Vega, Iger embarked on an entertaining meander of topics, ranging from his humble start at ABC four decades ago (when his myopic first boss declared him “not promotable”) to the great leaders who influenced him (including Roone Arledge, Tom Murphy, Michael Eisner and Steve Jobs). He recalled the risk he took to bring “Twin Peaks” to the small screen and the even larger risk that Walt Disney took to bring “Snow White” to the big screen. He noted successful Disney acquisitions of Pixar, Marvel and Lucasfilm (for a total price tag of more than $15 billion), and shared a laugh at his folly in greenlighting “Cop Rock,” a short-lived TV police musical in the early ’90s. And he celebrated the Disney’s historically successful first animated feature directed by a woman—Jennifer Lee’s “Frozen”—and historic construction of the company’s largest castle ever for Disneyland Shanghai.
“I’m often asked what I think Walt Disney would think of the company today,” Iger said. “I think he’d be unbelievably proud. We’ve managed, after 91 years, to continue to be relevant to a world that doesn’t look anything like the world that existed either when Walt founded the company in 1923 or when he died in 1966. And we’ve done so without compromising the values that Walt put into everything that was Disney: notions of optimism and inclusiveness, universally appealing stories that touch people’s hearts.”
Walt Disney famously said that “if you can dream it, you can do it.” No one embodies this notion better than the three recipients of the Foster School’s 2014 Distinguished Leadership Awards.
Dan Baty (BA 1965) is a life-long entrepreneur who has catalyzed successful ventures in international healthcare, wine and wealth management. After growing a small chain of nursing homes in his early career, Baty co-founded Emeritus Senior Living, a network of assisted living and retirement communities in 45 states. Today he’s principal of Columbia Pacific Group, a private equity and wealth management company he founded more than 30 years ago.
“Suggested speaking topics tonight were impact of the business school, and lessons learned in 43 years of business.” Baty said. “My immediate response to both of these was: relationships. And many started as an undergrad at the University of Washington.”
Nancy Jacob (BA 1967) became the first female dean of a major American business school when she was appointed to lead the Foster School in 1981. The school’s Executive MBA Program launched during her tenure. After retirement from the UW—where she was the first female full professor of finance—Jacob founded NLJ Advisors and Windermere Investment Associates and established a successful second career in the financial services industry.
Jacob remarked on the dearth of women in finance at the beginning of her pioneering career and the ongoing challenges for women in traditionally male fields. “We make a big deal of the glass ceiling for women executives in their careers,” she said. “But that’s misleading because life is not a vertical climb. It’s a multidimensional trip. It doesn’t come with an easy button or a fair button. It is what it is. But when one door closes, another opens. You have to be flexible and you have to be willing to deal with adversity.”
Kemper Freeman, Jr., (UW 1963) is the chairman and CEO of Kemper Development Company, the driving force behind Bellevue Square, Bellevue Place and Lincoln Square—four million square feet of award-winning mixed-use real estate. Freeman studied economics and political science at the UW and pursued careers in farming, radio, banking, real estate, and even a stint in the state legislature before joining the family business that has reshaped the city of Bellevue.
Freeman shared his family’s philosophy of devoting 30 percent of waking hours to the community, saying that the “absence or presence of private-sector leadership within a community makes or breaks that community.”
He also credited the amazing diversity of successful local companies—Boeing, Microsoft, Costco, Amazon, Nordstrom, PACCAR, to name a few—as well as the Foster School with making this a golden age for the region’s economy. “There’s so much bad news going around,” Freeman said. “But if this isn’t Seattle and Bellevue and the Northwest’s best time of all, I don’t know what it is.”
More than $100,000 in net proceeds from the UW Foster School Business Leadership Celebration will support scholarships and help create futures at the University of Washington.
This year’s crop of YEOC mentors and mentors-in-training share their majors, heritage, and more.
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)
Diana Lopez, Junior Major: Communications High School: Wapato Heritage: Hispanic Activities: Boeing Internship and traveled to Ecuador last summer
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, 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, Senior Major: Finance High School: Kentridge Heritage: Filipino Activities: Montlake Consulting Group, Foster Student Ambassador, Peer Coach
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, Junior Major: Finance and Accounting High School: Washougal Heritage: African American & Korean Activities: Sigma Phi Epsilon Fraternity
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, Senior Major: Accounting High School: Highline Heritage: Mexican Activities: Association of Latino Professionals in Finance & Accounting (ALPFA), intern at INROADS
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, 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, 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
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
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, 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
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, 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, Sophomore Major: Business Administration High School: Interlake Heritage: Chinese Malaysian Activities: Dream Project, Resident Advisor, Ascend
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, Sophomore Major: Accounting High School: Renton Heritage: Cambodian Activities: National Association of Black Accountants (NABA), Association of Black Business Students (ABBS)
Keeping the customer as its lodestar, Alaska Air Group navigated a turbulent decade to emerge as one of the marquee companies in the Pacific Northwest
Alaska Air Group recently moved into to the Fortune 500, that ultimate collection of the nation’s elite businesses, that manifest marker of size and success.
It was no small feat for a comparatively small, independent carrier to join the big boys in an industry marked by brutal competition, rampant consolidation, and chronic crisis. And it was even more remarkable that Alaska sustained its growth through a decade of Herculean trials.
So you might expect this momentous milestone would call for some serious celebration at the company’s south Seattle headquarters. Some bottles of champagne, perhaps. A press release, at least. Did they even pause to savor the achievement?
“We celebrate a lot of things,” says Brad Tilden (EMBA 1997), the chairman and CEO of Alaska Air Group. “But we didn’t really celebrate joining the Fortune 500.”
The understatement adds up when you consider it comes from a man possessed of a pilot’s cool and an accountant’s good sense leading a company with roots in the Last Frontier.
“It’s like compound interest,” Tilden adds. “Somebody had a really good idea 82 years ago, and we’ve been working at it year after year.”
Alaskan roots, American dream
That somebody was Linious McGee, who began flying passengers and cargo in his three-seat Stinson between Anchorage and Bristol Bay back in 1932. A merger, two years later, with Star Air Service created Alaska’s largest airline, eventually renamed after the state.
At the industry’s deregulation in 1978, Alaska was the 24th largest airline in the US. And it was just beginning expansion into the Lower 48. By the end of the 1980s, Alaska Air Group had added regional carriers Horizon Air and Jet America. It had enjoyed nearly two decades of profitability and sustained growth. And it had earned a reputation for superior customer service.
Economic prosperity and low fuel costs kept Alaska growing through the 1990s.
But Tilden, who joined the company from Price Waterhouse in 1991, says that Alaska Airlines was growing almost despite itself. Friendly service masked a declining efficiency of operations. Complacency had crept in, a culture of good enough, not great.
As the century turned, Alaska’s internal vulnerabilities were about to be mortally tested.
The century’s first decade began in tragedy. The January 2000 crash of Alaska Airlines flight 261—half of its 88 victims being employees, family members or friends—sent the tight-knit company into mourning.
It was only the first of a litany of trials to challenge both airline and industry. Shortly after the dot-com bubble burst in 2001, the attacks of 9/11 altered air travel forever. The SARS scare of 2003 followed. Then oil prices spiked just as the financial crisis shook the foundations of the global economy.
Amid the external pressures, Alaska Airlines faced a litany of contentious labor contract negotiations beginning in 2003. Strained morale brought a dip in performance. There were simply too many late flights and mishandled bags.
“Alaska was burning through the goodwill it had earned over many decades,” says Bruce Avolio, director of the Center for Leadership and Strategic Thinking at the University of Washington Foster School of Business.
A new case study by Avolio, Chelley Paterson and Bradford Baker chronicles Alaska’s decade of dilemma. Survival would require absolute transformation—modernizing operations and slashing costs—without sacrificing the legendary customer service experience that had made Alaska Alaska.
“There was an increasing recognition among the leadership,” says Avolio, “that the course they were on could not continue.”
Crossing the Rubicon
The situation demanded decisive action. And fortunately, Bill Ayer (MBA 1978) had risen up the ranks to become CEO in 2002.
“At a time when this business required a person of tremendous courage,” says Tilden, “Bill was the perfect leader.”
Ayer never wavered from hard—and sometimes heartbreaking—decisions. The first set the tone for the company’s transformation. Amid an epidemic of default that swept the major carriers, Ayer declared that Alaska would not seek bankruptcy protection.
“We figured out what our costs needed to be for us to be viable and said to ourselves that we simply have to get there,” recalls Tilden, then CFO.
Among the difficult moves to ensure the company’s survival were a painful round of layoffs, the outsourcing of some ground operations, and some pragmatic dealing for concessions from the unions.
“The choice to stay out of bankruptcy helped the company downstream,” Avolio says. “By not destroying people’s pensions and protecting this covenant with their employees, Alaska’s management salvaged a degree of trust.”
That trust would prove vital.
Fix Seattle, then the company
If cost cutting took toughness, improving performance took smarts. There was a lot to fix, but Ayer and Tilden chose, wisely, to first fix Seattle, Alaska’s largest hub.
“We identified the basic things we needed to improve upon to be successful—safe operations, on-time performance, low fares and great customer service,” says Tilden. “And we focused relentlessly on them.”
Applying lean methodology and measuring every task, performance began improving immediately, first in Seattle and then throughout the network.
“Once they fixed Seattle, Alaska demonstrated what can be accomplished in its other cities,” says Avolio.
The dramatic transformation has been widely confirmed. Alaska has been rated highest in customer satisfaction (among traditional network carriers) by J.D. Power seven years in a row. It’s been number one in on-time performance four years running according to FlightStats.com. Outside dubbed Alaska its “Best Airline” in 2014.
Alaska has earned highest marks in just about every category awarded: air cargo handling, delivery and logistics, technology, maintenance, sustainability, philanthropy, loyalty program, employee satisfaction—even friendliness to pets.
And aggressive expansion to the East Coast, Midwest and Hawaii when others retreated has made Alaska one of the fastest growing companies in the industry.
The importance of being Alaska
That growth has lifted Alaska into the Fortune 500. The company may barely have noted the milestone. But Seattle should.
Alaska’s ascendancy adds another industry leader to the region’s increasingly diversified economy, according to Suresh Kotha, the Olesen/Battelle Excellence Chair in Entrepreneurship at the Foster School.
“Having another service-based company like Alaska become a dominant player in its industry creates jobs, broadens our economy and buffers us against the kind of cyclical downturns we used to face.”
He’s referring to the not-so-distant past when a slowdown at Boeing threatened to shut down the city. But today Seattle enjoys a far healthier balance of manufacturing, service and retail. The region is home to nine of the Fortune 500 plus other powers in a wide array of industries including aerospace (Boeing’s continued strong presence, plus a galaxy of suppliers), software (Microsoft, RealNetworks), retail (Amazon, Starbucks, Costco, Nordstrom, REI, Eddie Bauer), truck manufacturing (PACCAR), trade (Expeditors International), forestry products (Weyerhaeuser), and clusters in telecommunications, biosciences and gaming.
A successful airline adds to the economic diversity. “It’s making Seattle one of the nation’s best places to do business,” Kotha says.
Avolio adds that other companies could learn a great deal from Alaska’s customer focus and level-headed navigation of crisis “with discipline and focus.”
The other lesson of Alaska, he says, “is that the essence of great leadership is building a sense of ownership in employees and customers.”
Ayer asked a lot of Alaska Air Group’s employees to save the company in its darkest hour. And those employees stepped up.
“We are the only legacy airline not to have filed for bankruptcy, thanks to the determination of our people,” he says. “What we learned by doing the hard work ourselves bodes well for our future.”
In 2012 Ayer passed the controls to Tilden, a new kind of leader for a new chapter in Alaska’s story. His focus today is on fine tuning the customer experience.
Tilden is continuing to foster Alaska’s celebrated culture of innovation that delivered the industry’s first online ticket sales and check-in kiosks, and is now developing apps to remove the anxiety from travel. “The goal today is to be the easiest airline in the world to fly by 2017,” he says.
Of course, technology can only do so much. People make the difference. While continuing to cultivate top management prospects in the Foster Executive MBA Program (see sidebar), he’s really trying to push the airline’s leadership to the front lines.
“The big opportunities going forward will come from consistent execution and delivery of service across every airport and every employee,” says Tilden.
To that end, he has initiated two company-wide programs to engage every employee and empower them to lead. It helps that they have a vested interest. As the profit-sharing program that Ayer and Tilden started during the lean days of the mid-2000s begins to pay handsomely, the link between airline performance and personal prosperity is easy to follow. That’s good for everyone’s bottom line.
“If the employees want us to be a great airline, we’ll be a great airline,” Tilden says.
The airline industry seems to have stabilized, and Alaska is all systems go, elevating both its standards and goals. An exemplar of corporate responsibility, it’s also a pillar of philanthropy in the larger community—and especially at the University of Washington.
“There is a really special culture at Alaska,” Tilden says. “A real sense of mission, that what we do for the communities we serve—the infrastructure we provide businesses, the connections we provide families—is important.”
“What makes me proudest is the company’s outstanding performance since I retired,” says Ayer. “The team is executing better than ever and, as always, there’s no shortage of challenges. The reality is that there are a lot of factors that are not controllable, so those that are must be very well managed.”
Tilden is ever vigilant. Or, as they like to say in Alaska’s HQ, “Brad’s never happy.”
He’s seen the perils of complacency, especially when most of the challenges ahead are yet unseen.
“In some ways, the challenge was simpler ten years ago,” notes Avolio. “You knew all of the things that were broken; you just had to fix them. Today, you don’t know where the market is going. There are a lot of question marks.”
One certainty is that fierce competition will come from smaller airlines and the big ones (which keep getting bigger through consolidation). Most immediately, Delta is making a significant incursion on Alaska’s prime West Coast territory.
But Tilden believes that Alaska Air Group has found the secret. And it’s not at all sexy. “What’s going to help us succeed over the long run is continuing to do the basics well,” he says. “We need to be safe. We need to be on-time. We need to offer low fares. We need to provide great service. Those things are 100 percent in our control. And I think if we get them right, we’re going to win.”
Megan Sevigny (BA 2015) reflects on her experience as a summer student consultant with the UW Consulting & Business Development Center.
At the beginning of this summer I had a small panic attack, which I am told is fairly common among incoming college seniors: I was certain I was making all the wrong life choices, and that I would be floundering helplessly after graduation. Fortunately, I didn’t have much time to wallow in my panic because I almost immediately started as a summer student consultant with the Consulting & Business Development Center. Luckily for me, my internship was the perfect tranquilizer for my panic attack because it led me to realize that not only do I want to pursue a career in consulting after college graduation, but I am being well prepared to pursue that goal with confidence.
In June, I contracted with a convenience store chain, an athletic club, and a distillery all from the lower Yakima Valley and the Tri-Cities to perform consulting projects through the center. My clients could not have been more different, but this diversity was what made my work so exciting, educational, and enriching. I grew up in the Yakima Valley and it was especially meaningful to me to work so close to home and to see local business owners bringing their ideas and passion for what they do to the community.
I can’t even begin to explain everything I learned about financial statements, liquor manufacturing, survey design, and athletic club member personas this summer. My family and friends are just about done with me explaining to them the inner workings of convenience stores and no one wants to come grocery shopping with me anymore because I spend far too long examining different products and what branding techniques they use. I have also developed a habit of interrogating any small business owners I happen across, about their career stories, passions for what they do, and their current business inner workings.
However, all these side effects, while not the healthiest for my social life, have proven to me that consulting is absolutely the direction I want to head after graduation. Furthermore, working and learning in the real world have shown me many of my own strengths and weaknesses and have served as a guide for which areas I want to focus my attention in my final year at school. My time working with the center has been incredibly valuable to me in so many ways. I made wonderful connections, learned so much about myself and my capabilities, and found some amazing support through the center and the business owners I worked with. I am eager to continue to build on my education and experiences and to move forward towards a career in consulting.
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.
The CIBERs were created by Congress in 1988 to increase and promote the nation’s capacity for international understanding and competitiveness. The Global Business Center, housed at the Michael G. Foster School of Business, has been a grant recipient since 1990. The competition this year was fierce as the pool of available grants had been reduced from 33 to just 17.
Securing the CIBER grant enhances the Global Business Center’s capacity to develop business leaders with the knowledge, skill and vision needed to collaborate and compete across the globe. “Global Business education is critical to the future success of our students and to U.S. competitiveness,” said Dean Jiambalvo. “Creating learning opportunities that build global business expertise is a top priority of the Foster School of Business. We are grateful to the U.S. Department of Education in supporting this priority.”
The Global Business Center will leverage this grant funding to draw on the strengths of the UW in implementing thirty-six new initiatives over the next four years with a focus on: (1) understanding Asia-Pacific markets; (2) the role of supply chains in global trade and investment; and (3) experiential learning for career-readiness.
Some of these new initiatives include:
Career-focused study abroad and global experiential learning opportunities for students.
Programs that support faculty research and teaching related to the business, economic and cultural environments of Asia.
Education for the business and academic communities about new Arctic trade routes.
Global Career Pathways Programs that prepare community college graduates for careers in international trade, supply chain management, and cybersecurity.
“This award reinforces the strengths of the Foster School’s top ranked international business specialty programs,” explains Debra Glassman, Faculty Director of the Global Business Center. “We are honored to remain a part of the national CIBER network and look forward to producing more innovative global opportunities for students, faculty and the community.”
Putting together this winning proposal and rolling out these new initiatives would not be possible without the immense support that the Global Business Center receives from numerous individuals, community and corporate partners, and the University of Washington. Thank you to all of our supporters!