Most Foster Evening MBA students spread completion of degree requirements out over three years, so the demands on their time are not as great as they are for students in other Foster MBA programs. Still, fitting classes, study group meetings, class assignments and other activities into a life full of work, family and friends is a challenge. It helps to get serious about managing your time, set expectations with your employer and other important people in your life, and build a support network with other students. In this video, Evening MBA students Tom Clendenin, Olga Shapiro and Etta Mends tell how they made it work.
Bruce Avolio, executive director of the Center for Leadership and Strategic Thinking, led a discussion on organizational leadership on April 24, 2013 at the UW Foster School of Business. Panelists were Lt. Gen. Robert Brown, Phyllis Campbell and Brad Tilden.
LTG Robert Brown was commissioned into the Infantry in May of 1981 after graduating from the United States Military Academy at West Point. In 1986, LTG Brown completed the Armor Officer Advanced Course at Fort Knox, Kentucky and then attended graduate school at the University of Virginia, where he earned a master’s degree in education. Throughout his career he has held a variety of leadership positions, including Commander, 1st Brigade (Stryker Brigade Combat Team), 25th Infantry Division; Chief of Staff, US Army Europe and Seventh Army; and Commanding General, U.S. Army Maneuver Center of Excellence. LTG Brown transitioned to Joint Base Lewis-McChord on July 3, 2012, where he serves as Commanding General, I Corps.
Phyllis Campbell is the chairman, Pacific Northwest for JPMorgan Chase & Co. She is the firm’s senior executive in Washington, Oregon, and Idaho, representing JPMorgan Chase at the most senior level to clients. In her role, she manged JP Morgan Chase’s operations during a tumultuous time. She joined Chase shortly after it acquired Washington Mutual during the banking crisis. Previously, Campbell was the president and CEO of The Seattle Foundation, the largest community foundation in Washington. She has also served as President & CEO of U.S. Bank of Washington. She holds an MBA from the Foster School’s Executive MBA Program.
Brad Tilden is president and CEO of Alaska Air Group, the parent company of Alaska Airlines and Horizon Air. As CEO he leads the nation’s seventh-largest airline, with 9,600 employees, 60 destinations and 117 aircraft. Additionally, he oversees regional carrier Horizon Air and its 3,200 employees and 48 aircraft serving 39 cities. Previously, Tilden served as Alaska Airlines’ president. Before joining Alaska, he spent eight years with the accounting firm Price Waterhouse in its offices in Seattle and Melbourne, Australia. He holds an MBA from the Foster School’s Executive MBA Program.
The panel discussion was incredibly interesting and insightful. They covered a wide range of topics, including leadership obstacles, women in leadership positions, managing risk and more. Watch video highlights from the lecture.
Lt. Gen. Robert Brown, Phyllis Campbell and Brad Tilden were Foster School of Business Dean Jim Jiambalvo’s guest speakers at the Leaders to Legends Breakfast Lecture Series, which include notable leaders in an array of industries from greater Seattle and around the country.
The Day of Innovation and Entrepreneurship, which took place on April 26, 2013, offered an impressive array of speakers. The all-day conference was led by Ken Denman, president and CEO of Machine Perception Technologies. He also holds the Edward V. Fritzky Chair in Leadership at the Michael G. Foster School of Business. Below are a few highlights of the knowledge shared throughout the day.
The new power: innovation and shared purpose
Nilofer Merchant, the noted innovation author, spoke about the future of social media or the “social era” as she coined it. As part of this discussion, she mentioned a shift in how we think about power. Power used to be related to how many people work for you or how much more knowledge you have than others. Now, power is your ability to get people to do amazing things. And to be powerful, you need to have a shared purpose that extends beyond yourself or your company.
She used REI as an example. Their shared purpose, the one they share with their employees, customers and the community, is getting people outdoors. “We used to think innovation is what we make,” Merchant said. “If you’re in the knowledge economy, who you are is what you make. And your ability to pull in people based on purpose is going to allow people to show up not just with the mind, but with the heart.”
She added that this makes them more committed to the cause and, therefore, willing to work tirelessly to ensure it succeeds. In turn, you’re able to engage a variety of people and have them create value, regardless of whether they work for you.
Weak ties can be strongest
Zaw Thet, co-founder and chairman of plyfe.me and HaulerDeals, was part of the Assembling Nimble and Functionally Diverse Teams panel. When discussing how to diversify your team, he referenced the paper, “The Strength of Weak Ties” by Mark S. Granovetter. As you hire employees, Thet said, you should look for people who can find diversity outside of their current network via a weak tie to another group. The motivation for this is to expand your network and therefore, diversify your staff.
Innovation versus disruption
During the discussion of the Next Big Themes, Ken Denman asked the panel to comment on the difference between innovation and disruption.
Seth Neiman of Crosspoint Venture Partners provided interesting insight on the difference between the two. He referred to innovation as “something that is of such significant value that people will change how they buy,” adding that people won’t change their behavior if there’s not an incentive. “Innovation turns into a business when the time pressure means the big company will get there too slowly, regardless of how intelligent they are,” he continued.
Disruption, according to Neiman, occurs when innovation is so powerful, it catches all the big companies off guard.
Tim Porter of Madrona Ventures made the point there are different kinds of disruption: a new technology or business model can disrupt an existing market or the creation of a whole new market can cause disruption. The latter type often provides the biggest opportunity, but is also the most difficult to anticipate. The most challenging aspect of disruption is time. Porter explained that when trying to time disruption, the biggest risk is that you’ll be too early, not too late.
Guest post by Sean Murphy, Foster MBA 2014
He attended the Day of Innovation and Entrepreneurship, which was organized by Ken Denman, Edward V. Fritzky Chair in Leadership at the Foster School.
The Day of Innovation and Entrepreneurship promised to be an engaging and informative event that I thought might be a good use of a Friday. What it turned out to be was most likely the best day of my MBA experience. Ken Denman brought in an incredible line-up that focused on topics ranging from funding to team creation to the next big themes in business. The day started with a heavy hitter and just kept getting better. Charles Songhurst, Microsoft’s General Manager of Corporate Strategy, spoke about adjacencies and outlined several observations that could be acted upon. There were some common points such as surrounding oneself with those more intelligent/hardworking/ethical than you and the Gladwellian 10k hour metric, but there were also some great insights new to me. One such point was that diplomacy is virtually unknown in the tech industry. Songhurst recommended that practicing empathy, predicting how others will act/react, and adapting to cultural norms of your target will put you at a significant advantage in the tech space. He also drew several observations about founder-led companies and professional management-led companies, arguing that self-cannibalization requires the confidence and vision of a founder. Songhurst spoke of comparing the earnings of founder-led and non-founder-led tech companies and claimed a 15% difference favoring the founders. He suggested a simple investment strategy would be going long on founders and shorting all others. Very interesting way to kick off the day.
A series of panels followed. We heard from Ghia Griarte (Saints Capital), Michelle Goldberg (Ignition Partners), and Andrew Tweed (Thomvest Ventures) about how their VCs assess potential opportunities. A common theme from the panel was the delineation of feature, product, and company and how the market appetite is shifting to smaller, simpler bites. On figuring out what a product or service is or offers, Goldberg said, “Don’t make me think.” Another point repeatedly addressed was the growing demand of the enterprise experience to mimic the consumer experience in UX and hardware. Tweed mentioned using consumer trends to predict what might be happening in the enterprise space soon and investing in back-end mechanics that would enable this shift.
We then switched gears to the non-profit world and heard from Kushal Chakrabarti, Doug Plank, and James Gutierrez about changing the non-profit landscape creating sustainable, long-term success. As expected, they were very passionate about their work and got me seriously considering a non-profit path.
Nilofer Merchant spoke next about the evolution of social media and the importance of co-creation in the future. She emphasized the framework of openness of ideas as one of the key drivers of growth, citing TEDx and Google’s Android as examples.
After a lunch break we returned to a panel of Marc Barros, Zaw Thet, and Donna Wells on assembling nimble and functionally diverse teams. They all emphasized the importance of your network and their reliance on them for the vetting of potential employees. Curiously, it was mentioned that no matter how many interviews you’ve done or people you’ve hired, it’s still difficult to weed out people that end up not meshing. The fit and attitude of hires was especially highlighted when working with a small team, as one bad apple can wreck the atmosphere pretty quickly.
Ken Denman moderated the next panel which focused on the next big themes and featured Seth Neiman (Crosspoint Venture Partners), Tim Porter (Madrona Ventures), and Jason Stoffer (Maveron). They got pretty philosophical and were dropping gems left and right. They approached VCs as incubators to test strategic theories about the market. Getting the market direction is difficult enough, but timing was a big theme of this talk as well. The key to making money is being contrarian, and being right. The key to identifying these investments is in looking at adjacencies when the future isn’t immediately accessible. What must happen if the things that are in motion today were to take the next step? There are many supporting steps that must first happen, and these can be very lucrative investments. Neiman mentioned investing in supporting infrastructure during the internet ramp up in the last millennium and saw a $100M fund return $13B. Jaw-dropping, even by VC standards.
Ben Casnocha, co-author of The Start-Up of You, brought the day to a close with a riveting personal story and the idea of applying entrepreneurial business thinking to your life. Setting aside time to read and think, increasing your knowledge every day, earmarking funds for meeting with interesting people; these were all suggestions of how to approach your personal development as you would a business. He encouraged students to consider youth and the opinion of our cohort as our value-add in connecting with senior, experienced leaders. It was a great, inspirational capstone to the day.
The amount of knowledge that came out of this event was mind-blowing. I filled more pages in my notebook in eight hours than I do in an entire quarter of class. An amazing array of brilliant, successful, and humble people took the time to share their thoughts and experience with an eager audience and I couldn’t be more pleased to be in attendance. I don’t know how this could be topped next year, but I will certainly be there to find out. And you should too…
Seattle area business professionals with a few years of work experience on their resume find the Foster Evening MBA Program a great option for earning a degree while continuing to earn a paycheck. But some choose it because it is among the best MBA programs in the Northwest – period. Other attractive features of the program cited by students are the cohort structure, which encourages each entering class to form deep and lasting relationships, and the ability to network with other working students. Evening MBA students Etta Mends, Olga Shapiro and Tom Clendenin tell why their search for a great part-time MBA program led them to the Foster School.
Guest post by Emilia Griswold, Foster MBA 2014
She attended the Day of Innovation and Entrepreneurship, which was organized by Ken Denman, Edward V. Fritzky Chair in Leadership at the Foster School.
Nilofer Merchant, author and corporate director, spoke at the Day of Innovation and Entrepreneurship about Social 2018: Where does social media go from here and what principles can we apply to the future? Nilofer argued that “social” is not “social media” and that we’re actually in the “social era” where individuals can now do what once only centralized organizations could accomplish. For companies, this means that they need to embrace openness and fluidity while allowing employees to take ownership in everything they do. But this also applies to people. Nilofer advocated that it is our job “to learn, not to know” and that being open to new ideas is what allows you to learn best.
To close out the day, we were very lucky to have Ben Casnocha, the entrepreneur, author, and chief of staff to Reid Hoffman, speak about his new book The Start-Up of You: Adapt to the future, invest in yourself, and transform your career. I took two big points away from Ben’s talk. First, think of yourself as a start-up and commit to investing. One simple way to do that is by setting aside some time and money to take interesting people out for coffee. Second, keep your mindset in “permanent beta.” Ben noted that when you consider a product “finished,” you lose the momentum to keep improving. By staying in beta, you feel empowered to fix the bugs that pop up and to leverage extraordinary opportunities that come your way.
He also talked about ABZ Planing. Plan A is what you’re doing right now. Plan B is what you want to transition into, and Plan Z is your back-up plan—what you’ll do if Plan A and Plan B don’t work. When you have this mentality you mitigate the risk that comes with transforming your career and yourself. The worst that can happen is you have to pursue Plan Z.
With so many incredible events going on at Foster, it can be difficult to commit to a day without studying or prepping for interviews. But I’m so glad I made time for this conference. I came away with a better idea of how to assess opportunities as well as new ideas for approaching my own career. All-in-all, a great way to spend a Friday!
Special thanks to Ken Denman, Dean Jiambalvo, Jason Hsaio (MBA 2013), Nelson Haung (MBA 2013), and all the Foster staff and volunteers who made this conference possible.
Guest post by Emilia Griswold, Foster MBA 2014
She attended the Day of Innovation and Entrepreneurship, which was organized by Ken Denman, Edward V. Fritzky Chair in Leadership at the Foster School.
Foster alumni never cease to amaze me, and Ken Denman (MBA 1986) is no exception. Ken has held numerous executive roles across established corporations and new ventures, and he is currently the president and CEO of Machine Perception Technologies as well as an angel investor. In addition, he holds the Edward V. Fritzky Chair in Leadership and has spent this year bringing exciting and inspiring events to Foster. The Day of Innovation and Entrepreneurship that Ken organized was no exception. For this conference, Ken assembled a fantastic group of leaders in the technology, start-up, and venture capital space from both Seattle and Silicon Valley.
The day kicked off with Charles Songhurst, General Manager of Corporate Strategy at Microsoft. The first part of Charles’ remarks was about the five common reasons that companies succeed: geography, an ability to generate positive serendipity, expertise, getting the right mix of skills on a team, and being empathetic. The second part of his speech wasn’t what I expected from someone at a huge company like Microsoft—Charles discussed why big companies have such a hard time innovating. That mix of great insight and thoughtful honesty is something that comes out at all Foster events, and Charles’ attitude as well as his fresh perspective were echoed throughout the day.
After the incredible discussion with Charles, the day’s panels covered a range of topics relevant to innovation and entrepreneurship. Below are highlights from each panel discussion.
Chasing the Inevitable: How VCs identify and assess potential opportunities
The session was moderated by Foster’s own Professor Emily Cox Pahnke and featured three venture capitalists who work across a range of industries: Michelle Goldberg of Ignition Partners, Ghia Griarte of Saints Capital and Andrew Tweed of Thomvest Ventures. Although each VC specializes in different kinds of deals and has expertise in different areas, they all emphasized that their firms have internal theses they work from. When looking at truly innovative opportunities that don’t have a market yet, they look for products and features that can be easily explained and understood by a customer. All the panelists also agreed that investing is about relationships and the strength of the founder. They want to invest in someone who is wedded to success more than a specific idea, is open to feedback, knows the industry well, and has proven success in previous positions.
Changing the Non-Profit Landscape: What does it take for social entrepreneurs to achieve leading innovation and long term success
While a discussion about non-profits seems odd for a business school, Foster has a history of developing leaders who want to give back. Moderator Zaw Thet, co-founder and chairman of plyfe.me and HaulerDeals, engaged Kushal Chakrabarti (founder of Vittana), James Gutierrez (co-founder and partner of Insikt Ventures), and Doug Plank (founder and CEO of Mobilecause) in a conversation about social entrepreneurship. Despite the non-profit focus, the panelists all came back to the same themes discussed in the for-profit panels. In particular, you should practice “intellectual honesty” and admit to your strengths and weaknesses—then get brilliant people to fill in your gaps. They also reminded anyone going into philanthropy that some non-profits fail because they are 99% heart and 1% business, but being 99% business won’t lead to better results. You must have a mix of business and heart to succeed as a social venture.
Assembling Nimble and Functionally Diverse Teams: Where and how to spot the top talent to booster your team
With so many students looking for jobs and internships, everyone was excited to hear what start-ups and established innovation-focused companies look for when hiring. Interim CEO of Vittana, Rebecca Lovell moderated this discussion with Marc Barros (co-founder of Contour), Zaw Thet, and Donna Wells (president and CEO of Mindflash Technologies). It’s no surprise the panelists all advocated hiring people who are able to embrace flexibility, have emotional intelligence, and work well in a team. But it’s most important that you hire people who love and use your product. And when you’re thinking about hiring for your company, remember you should design a position around what needs to be done, not around a title.
The Next Big Themes: What’s next, why it matters, and how you can spot big ideas before anybody else
Ken Denman talked with Seth Neiman from Crosspoint Venture Partners, Tim Porter from Madrona Ventures, and Jason Stoffer from Maveron about the next big ideas. The panelists saw some major trends driving innovation, particularly around cloud computing, big data analytics, mobile, consumerization of IT, biotech, embedding internet capabilities in everyday objects, and perceptual computing. When it comes to predicting the next big thing, these investors look for simple value propositions, pay attention to what the kids are doing, and consider if a new idea fits in with their existing theses and view of the world. But they pointed out that innovation isn’t just about change—it’s about benefiting from change.
Not only are LaJuan Davis and her brothers Dwayne and Ricardo Ellison the next generation of leaders JBE Incorporated, they are also proud graduates of the University of Washington’s Minority Business Executive Program (MBEP) – which is saying something considering that they hadn’t really heard about the UW or this program 18 months ago. Following their graduation from MBEP last June, they each took back lessons they learned and they saw an immediate impact.
LaJuan, the company’s treasurer, took back three key lessons: That for small businesses “sometimes it’s important to sacrifice growth to insure liquidity,” empowering employees to make decisions is key to enabling the executive team to focus on the future, and that while you can’t always measure the impact of marketing expenditures these investments are key to long-term growth.
Ricardo, one of the company’s Vice Presidents, reflects on how he’s become a better leader because of what he learned at MBEP: “senior executives don’t need to be a part of every decision,” he says. He also noted that rather than focusing most of the company’s top talent on solving today’s problems, they are now “spreading talent around so they can focus on today and the future.”
Dwayne, another Vice President, says the program changed how he views the entire company. He’s become more acutely aware of the power of branding the company in moving the company forward. He’s learned that as a senior leader of the company he needs to “work on the business rather than work in the business,” and through this he’s able to empower others to make decisions.
These three siblings are confident that what they learned at MBEP will have a long-lasting impact on their company, but they’re also proud that, in part because of how they’ve changed their leadership of the business, JBE set a record last year by crossing the $40 million revenue threshold for the first time. They’ve also begun to directly manufacture products in addition to the assembly and supply chain management services they’d previously offered.
LaJuan, Ricardo, and Dwayne had the opportunity to attend MBEP because of their relationship with The Boeing Company. JBEP was founded to provide services to the automotive, paper, and textile industries. They began to court Boeing as a customer in 2008, and when Boeing selected Charleston as the site for final assembly of the 787 Dreamliner, the relationship took off. Last year Boeing invited JBE to be in their mentor-protégé program, which led to the offer to attend MBEP. While JBE was looking at similar programs offered on the east coast, when they learned about the Foster School’s year-around work to grow minority-owned businesses through the BEDC, they decided to accept Boeing’s offer.
To learn more about the 2013 MBEP, please join us at a Sampler and Information Session on Thursday, May 16 from 7:45 to 9:00 a.m.
Exequiel Soltero arrived in the U.S. from his small hometown on the southwestern border of Mexico determined to pursue the “American Dream” via the traditional culinary delights of his native Mexico.
A positive mindset, entrepreneurial spirit, and desire to provide for his family aided Exequiel to labor through the restaurant industry, beginning as a dishwasher and progressing to a waiter. By 1979 Exequiel had accumulated enough savings to open his own restaurant devoted to Mexican cuisine, Maya’s Family Mexican Restaurant in Seattle’s Rainier Valley neighborhood. Staying true to the restaurant’s name, and Exequiel’s initial motivations for opening a restaurant, each and every one of his siblings—nine sisters and three brothers—spent time working together to build a strong foundation for Maya’s.
Nearly 35 years later, Exequiel’s authentic recipes have lured a solid following, and allowed him to expand well beyond the original 850-square-foot restaurant. Maya’s brand now includes a full-service Mexican restaurant and a growing catering service.
As the trend of mobile food trucks is continuing to grow, Maya’s has launched a fleet of food trucks that will soon be located next to Seattle’s CenturyLink Field during Seahawks and Sounders FC games, as well as on Microsoft’s Redmond campus during weekday lunch hours. With growth, however, comes new challenges and Exequiel realized that success of Maya’s new division-based business hinged on seeking outside guidance.
Exequiel, who has been a long-time friend and partner of the Business & Economic Development Center (BEDC), turned to the BEDC’s to participate in our Student Consulting Program to help him reach his business goals: “I was motivated to participate with the BEDC Student Consulting Program because I was interested in growing my business, and what better way to grow my business than to get the input from business students, teachers, mentors and advisors.”
The BEDC’s Student Consulting Program improves management and marketing skills of small business in under-served communities with the aid of teams comprised of of business students and faculty of the UW Foster School of Business, Foster alumni, and mentors drawn from the Seattle Rotary Club. Exequiel explained what he was hoping to gain from his participation with the Student Consulting Program:
“I was hoping to receive a different perspective from my own. I have several ideas and visions for the restaurant and catering department, but I felt I needed to get the opinion from someone who has valuable input that could help change the way I do business.”
Through the Student Consulting Program, Exequiel, along with 14 other business owners, was provided advice from his student consulting team on how to strategically grow all divisions of Maya’s, including specially-tailored marketing strategies and financial/managerial guidance.
Now, as Exequiel’s interaction with his student consulting group concludes and he begins the process of actualizing the plans and goals presented with the continuing support of his BEDC mentors and advisors, he has great hope for his company’s future:
“I feel very positive about the future of my business, especially with all the recommendations the student team had to offer at the presentation [of their findings]. I learned the importance of sending out thank you notes to all catering customers upon completion of their event, [the value of] up-selling, tips to get my food cost and labor back to a respectable percentage, and that having someone managing our social media outlets would dramatically help with sales and customer retention.”
If you are business interested in being a part of the 2013-2014 Student Consulting Program, or if you have any questions about the Program, please contact Wil Tutol at firstname.lastname@example.org.
Post by Jess Rush, Global Business Center Assistant Director of MBA Global Programs
Twenty three million. It’s hard to fathom the reality of that number. It is almost the population of the state of Texas. It is the population of the CITY of Shanghai, China. Nearly twenty five hundred square miles. It is both the area of the state of Delaware and the city of Shanghai. It’s daunting to think that this is just one city (and it’s not the biggest) in a country that is on the fast track to overtaking the US as the world’s biggest economy. Some studies indicate that we are less than twenty years from that happening. For the past twenty years, Shanghai has been growing, no, exploding. (Check out the photos here for some visual context: http://www.theatlantic.com/business/archive/2012/05/shanghai-can-the-fastest-growing-city-in-the-world-keep-it-up/257021/)
It is in Shanghai that the 2013 MBA Study Tour to China took off for a two week exploration of the culture and business of China. Shanghai provides a wonderful introduction to China. It eases one in with fairly clear skies and clean, safe streets. While it’s not as challenging as other cities, don’t be fooled. It’s still a real challenge to take a taxi to the Bund without it written in Mandarin. Just ask a few of us who tried!
While in Shanghai, the Study Tour visited a variety of companies including AGCO, Siemens Healthcare, SKF, Trina Solar and Kleiner Perkins Caufield Byers. Two particularly interesting meetings were with an ex-pat, “C-level” recruiter who left Pittsburg for Shanghai when the US economy took its downturn and with a UW alumnus who created a tech start up and is developing new social networking applications for an increasingly connected Chinese youth. The MBA students, faculty and staff were treated to a wide array of industries and approaches to doing business both in China and around the globe. We were also treated to a typical Chinese lunch meeting. Over plates and plates of delicious food and steaming cups of tea, we talked hiring tendencies, the importance of human resources in multinational companies and creating community while living abroad.
Part of my experience in Shanghai also included a visit to one of our exchange partner schools-the Shanghai Advanced Institute of Finance (SAIF). While it also involved being treated to an amazing lunch spread, it was more importantly and opportunity to connect with colleagues and learn more about each other’s programs. SAIF is a relatively new program in a beautiful new building and in a fantastic part of the city near Shanghai Jiao Tong University. Students interested in studying finance could really benefit from spending a term there.
I expected Shanghai to be an interesting learning experience. I did not expect to be so charmed by the city. From exploring Tianzifang and Xitiandi in the French Concession to an adventure under the river to Pudong and up the Oriental Pearl Tower to see the night lights, the city gripped me. Making our classroom the boardrooms, restaurants, streets and taxis of Shanghai expanded the minds and perspectives of students and faculty/staff alike. There is no experience that can substitute for taking one’s learning global, especially given the future of the world’s economy. In our lifetime, the US will be sharing the stage more and more. Our best prepared leaders will be able to sit at that lunch meeting and make deals while serving themselves with chopsticks.