Sell it, win it

UW undergrads Hayden Krall, Hannah Hanson, Hanna Klemm, and Megan Smith beat out 20 other schools and won the 2012 “Can’t Beat the Experience” National Team Selling Competition at the Kelley School of Business at Indiana University.

Guest post by Megan Smith, UW undergrad and Sales Certificate student

National Team Selling CompetitionWe received the case approximately two weeks before the competition. The case was an internal sale and we were a “special task team” of employees that needed to make a presentation to our company’s CEO and VP of Human Resources. Our company was a research firm called “Abaci.” As the special task team, we were charged with creating a Workplace Wellness Program that introduced a new fitness device: the GetFit wristband.

The two weeks leading up to the competition were filled with preparation, devising plans, and a lot of coaching. We had fantastic support from our coaches and advisers: Jack Rhodes, Jeff Lehman, Joe Vandahey and last year’s NTSC team (Eric Hotaling, Dorine Rassaian, Julie Reynolds, and Neil Carter).

The competition day was split into two presentations: a morning session for needs analysis (15 min) and an afternoon sales presentation (20 min). The need analysis was a meeting with the VP of HR, “Casey” whom we were able to talk to about the issues facing the company, the data we were given, and uncover any other information that wasn’t included in the case description. Discovering all of the company’s needs was vital for success in the afternoon presentation. In the three hours between our morning session and afternoon presentation, we modified our presentation to incorporate the needs uncovered in the morning session and fit in as much practice as we could. We presented our Wellness Program to the company CEO, “Doug,” and our VP of HR, Casey. We addressed all their questions and received approval to implement the program.

Winning was surreal. There are not words to describe the feeling of having many late nights and hours of practice pay off. It is impossible for us to give enough credit to our coaches for their unparalleled support and guidance. Their support in combination with how well our team was able to work together made it possible for us to create a comprehensive and creative Wellness Plan that pulled us through to win. The amount we learned and the enjoyment and excitement of the competition truly made the experience unbeatable. Watch the morning and afternoon sessions.

The Sales Certificate Program at the Foster School provides students with the knowledge and real-world experience necessary to be successful in sales.

Followership impacts leadership

Gerard Seijts interviewed Bruce Avolio, professor of management and executive director of the Center for Leadership and Strategic Thinking at the Foster School, about his research on leadership. Professor Seijts is executive director of the Institute for Leadership at the Ivey School of Business. In the interview he asked Prof. Avolio what are the big leadership questions that will advance the field.

According to Prof. Avolio, one major question is, “Is the source of leadership followership? If so, in what way?” He goes on to say this isn’t a topic we have delved into because we assume the source of leadership is the leader. But a key discovery in Prof. Avolio’s research is that followers who have a sense of ownership in their work, don’t let their leaders go off the cliff or in other words, make poor decisions.

He also said he can tell a lot about an organization’s leaders without ever meeting its leaders. This is because followers are a reflection of what they see in their leaders. “If followers are independent, willing to challenge, feel safe to do so, own what they are charged with, and feel a deep sense of making it right, they change the leadership lens of the organization.”

Another takeaway from this interview is Prof. Avolio’s finding that financial analysts consider a firm’s leadership when valuing a firm. They can discount a firm anywhere from 5% to 20% based on their perceptions of its leadership.

Watch the full interview.

Announcing Dempsey Hall

Today the Foster School held a naming dedication for its newest facility: Dempsey Hall. The building is named after Neal and Jan Dempsey, who have been incredible supporters of the Foster School. Neal is a 1964 alumnus of the Foster School and has been engaged in myriad ways over the years. He has served on the Foster School Advisory Board for more than two decades and is a past chair. Alongside Mike Garvey and Ed Fritzky, he co-chaired the successful Foster School capital campaign that raised $181 million between 2000 and 2008. He has also given over $10M to the Foster School.

Dean Jiambalvo said at the dedication, “Neal is action oriented and unwavering in principle.” When Neal spoke, he called the next generation to action and encouraged them to give their time, energy, and money to the Foster School. He asked everyone in the crowd to raise their hand if they agreed to give back to the Foster School. Everyone’s hands were in the air. Neal took it a step further and shot of video of everyone with their hands raised–proof they would do what they said. He said it’s been a, “fantastic road to the finish line.” And he looks forward to seeing the next generation of supporters give back.

Dempsey Hall from Foster School of Business.

Banking and global business: an alumna’s perspective part 2

Jennifer Wallis is the Division Manager for Chase Commercial Middle Market Banking for the Eastside, North Puget Sound and Western Canada. Jennifer is a Foster MBA alum and member of the Global Business Center’s Global Business Advisory Board.

Tell us a bit about your career in Banking. What do you like the most about your position? Which aspects are the most challenging?
I came directly out of the Foster School and went to work for Wells Fargo as a banker to Middle Market companies. Middle market is defined in this case as companies that have annual revenues between $20MM and $1B. I coordinated a team of people to provide a full suite of financial services to middle market companies including credit, investments, cash management, and international financial and trade services. Based on my education and interests I specialized in banking companies that had an international component.

Later I had the opportunity to move to London with the bank to build the Financial Institutions business in the UK, Western Europe and South Africa. In this position I traveled a great deal and was in Europe during the worst of the financial crisis.  It was an anxious time. We were all trying to understand the quality of assets held on each other’s balance sheets. Some of my banking partners in Europe had purchased US mortgage assets via special investment vehicles to invest their excess cash and many of those investments included sub-prime assets. Ireland, Greece and Italy were in my territory and each of these countries was showing signs of strain. Banks became cautious about overnight lending to one another and so the ECB and the Bank of England stepped in as did the FED in the USA. It was a fascinating, yet incredibly tense time.

In 2011 I chose to move back to Seattle to be close to my grown children. With the move I accepted a position with JPMorgan Chase back in the Middle Market and am currently the Division Manager for Commercial Middle Market Banking for the Eastside, North Puget Sound and Western Canada.

Banking financial institutions in Europe was fascinating but I also enjoy the middle market which is why I returned to it. While financial institutions are quite similar, middle market companies are quite different. They are involved in diverse industries, offer distinctive products, local and global, and large and small.  Their competition varies as does their competitive advantage in the market in which they conduct business. It is the banker’s responsibility to know his/her client’s business thoroughly – and this is the most interesting part of my job.

The most challenging part of my business is competitively providing what a client needs while maintaining an adequate risk profile for the bank.

What would you tell business students about the world of global business?
One of my managers once said, “Everyday the world is getting more global.” While that sounds a bit obvious, it is accurate! These days almost all business has some global component. We get closer and more integrated each year across borders. My advice to business students is to take advantage of opportunities to move beyond your own country and learn all you can. I’m sure they all understand that top management in most companies must have some understanding of global business. There are great opportunities out there in the world, but barriers and pitfalls remain. A strong manager is not naïve about these challenges but is aware of them so he/she can guide his/her business to take advantage of a world full of opportunities.

Read more about Jennifer’s background and experiences.

Banking and global business: an alumna’s perspective

Meet Jennifer Wallis, Division Manager for Chase Commercial Middle Market Banking for the Eastside, North Puget Sound and Western Canada. Jennifer is a Foster MBA alum and member of the Global Business Center’s Global Business Advisory Board.

What were you like as a young person that set the stage for your career?
I didn’t expect to have a career in banking. As a young person I had other interests aside from money. I loved to read and learn about places outside of the USA. We had a number of books in the house that fed this interest. As I grew older, I purchased used travel books from Fodor’s and Lonely Planet and would read them as others would read novels. Throughout school I studied language (French, Spanish, Italian, and German). I majored in International Studies at the University of Washington gaining a BA from the Jackson School.

What made you decide to get an MBA, and what were your most valuable experiences at Foster?
I decided to get an MBA because I was returning to the workforce after time off to raise a family. I felt I would be better situated for a strong career with an MBA. I concentrated on Finance, but also earned a certificate in International Business while in the program. My most valuable experiences at Foster have to be the international experiences. I studied in Bangalore, India in my second year and traveled to Indonesia with the first MBA study tour. Even though I tried to prepare by reading as much as I could prior to being on the ground, I always ran into the unexpected. The learning that takes place during these experiences is not necessarily focused on what you would expect to learn in an MBA course. That was why the experiences were so valuable to me.

Can you tell us about the international places you’ve lived, worked, or studied, and some of the things you’ve learned through your global experiences?
While in school I lived and studied in Costa Rica and India. I traveled to Indonesia and China with the Foster school MBA study tours. I worked and lived in the UK and covered the UK, Scandinavia, Western Europe, Greece, Cyprus and Africa and spend considerable amounts of time in each country. I learned that you can never underestimate the impact of culture in business or in personal interactions. I always assume that I know this, but then I will unexpectedly encounter a misunderstanding or simply a different way of looking at things that I did not expect.

Read more about Jennifer’s experience working in Europe during the financial crisis.

The network effect

Ben Anderson
Ben Andersen (TMMBA 2012) is CEO of PatientStream, a company offering cloud-based patient tracking for hospitals.

How a UW technology becomes a startup and its developer an entrepreneur, with a little help from a lot of friends around the Foster School and beyond

It began with a problem. A glaring inefficiency of the modern hospital that is as pervasive as it is puzzling.

In this age of digitized everything, the status of virtually every patient in virtually every medical department in America is manually tracked by erasable marker on an overcrowded white board.

Still.

Such a simple, central organizational hub works great as a framing device for the bustling casts of ER, Grey’s Anatomy, and other fictional hospital dramas. But in the real ward, it makes for a shockingly outdated nerve center—error prone, incomplete, and far too taxing of staff time better spent on patient care.

Ben Andersen (TMMBA 2012) understood this completely when he took up the challenge of modernizing the tracking system in the department of surgery at Seattle’s Harborview Medical Center. Before enrolling in the Technology Management MBA Program at the Foster School of Business, Andersen was a perceptive young IT guy working on the informatics team at Harborview, a branch of the UW Medicine Health System.

Fast forward a few years and his one-off solution has become a nascent company called PatientStream with broad ambitions in the $2.5 trillion health care industry.

Andersen’s jump from developer to entrepreneur is a study in technology commercialization at the University of Washington—of an innovator who is educated, mentored, focus-grouped, funded, challenged and championed by a fabric of experts and entrepreneurial organizations around and affiliated with the UW at large and the Foster School in particular. Complementary nodes in an ever-expanding network.

Creation

When Harborview opened a second surgery site four years ago, coordinating patients and medical staff on twin white boards proved unwieldy, to say the least.

The job of finding a solution fell to Andersen. He first sought an off-the-shelf fix, but found it didn’t exist. So he offered to custom-build a solution. And his entrepreneurial manager, Peter Ghavami, gave him the green light.

Andersen immersed himself in activity around the white boards. “I wanted to capture their language, every mark they made,” he says.

His solution was deceptively simple: an electronic patient tracking and operations management system that drew and displayed information from existing hospital systems on a flat-screen television (or any networked computer). A digital white board.

It was useful. More importantly, it was usable.

“Normally when we roll out a new system, there are groans and moans and no one wants to learn it,” Andersen says. “When we implemented the digital whiteboard, after about five minutes of training they said, ‘That’s it? I can do that.’ Support calls were almost non-existent.”

The Electronic Whiteboard (EWB), as Andersen named the digital display system, worked from the start. Easy to use. Effective. Efficient. Patient waits fell markedly. Accuracy increased. Medical staff no longer had to cruise the white board all day to track their schedule. And administrators could view instant metrics on operations and performance.

Word spread quickly. Other departments began clamoring for the EWB, first at Harborview, then the UW Medical Center. Today, over 50 departments throughout the UW Medicine system are running on the EWB.

“When I began getting request after request from other departments, I realized that this is a need that’s not being met,” Andersen says. “Maybe this deserved to be in other hospitals as well.”

Confidence

Andersen had founded a company before. It was the right-place-wrong-time story of a workflow management firm serving property management/landscaping companies—launched unsuccessfully at the start of a historic housing crash.

Delivering a kindred tech solution to the health care industry, he knew, would be exponentially harder.

But Andersen held a few advantages. He had an author’s knowledge of the software and a proven track record of implementations in real hospitals. And he was enrolled in the Foster School’s TMMBA Program where he added a full suite of management skills that would be essential for a software developer to make the jump to CEO.

Suresh Kotha’s technology entrepreneurship class, in particular, was pivotal to Andersen’s ambitions. The course helped discern whether the opportunity and technology were market-worthy, yielded a working business plan, and, most importantly, demystified the entrepreneurial process for Andersen, equipping him with the requisite confidence to start a business.

“I build my course around the premise that there is nothing special about entrepreneurs—they are not some superior beings,” says Kotha, the Foster School’s Olesen/Battelle Excellence Chair in Entrepreneurship. “They simply have the skill set and confidence to do it. And these can be developed.”

Andersen got one more essential from the TMMBA Program: a team. He assembled an entrepreneurial A-Team of classmates expert in each function that would be critical to developing the business: Marc Brown on sales and custom support, Jason Imani on marketing, Anoop Gupta on technology, and Glen Johnson on finance.

They called the venture Xylemed.

Connection

To test its market potential, Xylemed entered the annual UW Business Plan Competition, signature event of the Foster School’s Buerk Center for Entrepreneurship.

Andersen found the experience exhilarating from the opening investment round, a kind of entrepreneurial trade show where 36 start-up teams fast-pitch to more than 200 roving judges over four crazy hours. “The pitch we started with and the pitch we ended with were radically different,” Andersen says. “We learned to key in on the part of the story that made their eyes light up.”

In a word, traction. More than 50 installations across three medical centers, each one delivered on-demand. Andersen polished the narrative until it was irresistible. “Ben started with a very real problem, came up with an elegant and efficient solution, and demonstrated a tremendous capacity for making people understand what he was out to do,” says Connie Bourassa-Shaw, director of the Buerk Center. “He has a compelling story to tell.”

That story took Xylemed to the final four, where it won the $10,000 second prize. “The money was great,” Andersen says. “But much more valuable are the connections that we made.”

“That’s a wise assessment for an early entrepreneur to have,” says Aaron Coe (MBA 2003), one of those connections. “There’s great value in connecting with people who add knowledge, add perspective, and challenge assumptions.”

Coe, a Foster MBA grad who helped launch 2003 BPC champion Nanostring and had an even bigger success with a pharma company called Calistoga, coached Xylemed before the semifinal, then later secured them a spot at the Technology Alliance’s Innovation Showcase.

There were many others. The team’s semifinal judges included investor Greg Gottesman of Madrona Ventures and serial entrepreneur Terry Drayton of Rainier Software and HomeGrocer.com. Both opened their personal networks to Andersen. “I’ve been amazed at the caliber of people who approached me and offered their help,” he says.

It’s no surprise to Bourassa-Shaw. At the end of the day, the Buerk Center is in the connection business.

Commission

The UW Center for Commercialization (C4C) is in the licensing business. When Andersen’s digital white board first reached the inbox of Angela Loihl, associate director of technology licensing, she shopped it around to a variety of software and health care companies. It’s a common corporate strategy to cherry pick R&D out of university labs, and C4C has negotiated more than 100 licensing agreements of UW intellectual property since 2005.

Recently, Loihl says, an increasing number of faculty and staff are expressing interest in launching their own ventures around their innovations and discoveries. So the C4C has evolved into a hybrid transaction/partnership model—a kind of bus dev team for researchers and innovators.

After the digital white board found no initial takers, Andersen—by this time well into the TMMBA Program—began changing the conversation. What if he sold the software himself?

As he prepared for the Business Plan Competition, Loihl connected him with the C4C’s Entrepreneurs-In-Residence Program. He rehearsed his pitch in its New Ventures Facility. He sought advice from the Law School’s Entrepreneurial Law Clinic.

And while Loihl oversaw the negotiation to license Andersen’s software, she also served as advisor, advocate and fan. “It was obvious that Ben had been taught well at the Foster School,” she says. “He came to us prepared, asked the right questions, and knew exactly what he wanted to get out of every meeting—in the nicest possible way.”

The kind of entrepreneur you want to root for.

Catapult

Today, Andersen is a recent Foster grad, a former employee of Harborview, and a full-time entrepreneur. He has rechristened his company PatientStream, a name that sounds less like a pharmaceutical and more like a software company that tracks hospital cases. He’s incorporated the business, finalizing license negotiations, developing a mobile app, seeking investors, and closing in on several key hires.

Even on his own—his TMMBA colleagues have returned to their lives and livelihoods—Andersen is still breathing the rich air of the UW’s entrepreneurial ecosystem.

Success in the Business Plan Competition earned PatientStream a spot in the Jones Milestones/Foster Accelerator, a resource that provides expert mentoring and advising, work space in the Buerk Center’s new Herbold Innovation Lab, and a chance to earn up to $25,000 in additional seed funding if Andersen can achieve several important milestones over the next few months.

He’s pitching for considerably more money from the newly instituted W Fund. The public-private partnership aims to invest nearly $20 million over the next four years in promising start-ups spinning out of the UW and other research institutions across the state.

For PatientStream, a business that needs to act fast and first, a small slice of that pie would be a veritable feast.

Time will tell whether his company’s promise is proven on the open market, in the notoriously difficult-to-crack health care industry. But Andersen has a viable technology, a running start, an ever-expanding network of powerful allies, and a robust entrepreneurial education, in and out of the classroom.

“Between the incredibly rare opportunity to develop a technology in a hospital IT department, the skills and confidence that the TMMBA Program gave me to start a company, and the networking that came out of the Business Plan Competition,” he says, “the past few years have been a perfect storm.”

Perhaps the most telling testament to Andersen’s growth was his preview presentation of PatientStream, by all reports outstanding, to the newly formed W Fund investment committee—an intimidating collection of the region’s premier entrepreneurs and investors.

“To go in front of these guys as a young IT guy and hold your own is pretty impressive,” says fund investor Dave Marver, the former CEO of Cardiac Science. “Ben wasn’t intimidated in the least.”

Study abroad photo contest winners 2012

Over 250 University of Washington Foster School of Business undergraduate and MBA students studied or interned abroad last year. These photos and short descriptions are a small taste of the transformative educational experiences these students have each year. The UW Global Business Center held a competition for the best student photos in two categories: 1) Foster Abroad: Photo that inspires others to study abroad or makes a statement about the student experience abroad; 2) My Global Lens: Views uniquely accessible to students living abroad – social issues, cultural interactions, cityscapes, landscapes, etc.

Here are the first and second place winners in each category. Enjoy them!

1st Place Foster Abroad: Chris Comley, Undergraduate; Montpellier, France

Bon Appetit, Au Revoir
Friends dining at an enchanting garden cafe, enjoying a final lunch of quiche, iced tea, and peaches and cream before the magic of a summer in the Midi ends

Experience abroad: Summer in the south of France afforded many luxuriant opportunities. Among the best were afternoons spent dining in this tiny garden area tucked discreetly behind an antiques shop where good food and company created moments to savor. The photos captures the ironic laughter of our final lunch at the cafe, a day before the end of the program.

2nd Place Foster Abroad: Ashley Matsumoto, Undergraduate; Kobe, Japan

Becoming Japanese
During summer in Japan, Yukata (summer version of kimono) is the Japanese traditional-wear for festivals and other events, but my fellow Foster friend and I decided one day near the end of our semester that we wanted to just explore the beauty of Kyoto and make memories together. We had hundreds of photos taken of us and are probably now in those tourists’ photo albums, who were shocked when we spoke to them in English – though we had been speaking the language the entire time there, this day in look we also finally became “Japanese.”

Experience abroad: Studying abroad was the most exciting, amazing, memorable experience of my life. Time became something I thought about every day. At home, most of my time was devoted to school, commute, family, friends, etc. But in Kobe, I was starting completely fresh with no established routine – and it was almost like time was something I now had complete control over, and /I/ could decide how I wanted to use it. My choice was to focus on everything happening in the here and now, so that I would never regret not doing something during these 6 months that I knew I would forever pine for but never get back no matter how many times I return to Japan. And when I look at my thousands of photos and think on the memories with the amazing friends I was able to make, I am happy to say that I regret nothing. And, I am heading back to Japan as soon as absolutely possible!

1st Place My Global Lens: Roda Barket, Undergraduate; Longji, China

Craving Fresh Air
Figuratively, craving the freshness and uniqueness of China. Literally, craving the fresh air in Longji after experiencing the pollution in Beijing and Shanghai.

Experience abroad: I had the most incredible experience of my life. Being an African immigrant young woman, I never thought I would have the opportunity to go to such an “exotic” country as China. I use the word “exotic” because I’m often referred to as exotic by Americans but never quite understood it until China. I never had the chance to go to a place or learn about a culture that was so unfamiliar to me. I had no idea what to expect. I loved every minute of my experience, it was life transforming for me and inspiring to many of the people I knew who also considered China exotic.
2nd Place My Global Lens: Alex Birch, Undergraduate; Pingyao, China

A Land That Time Has Forgotten
To describe urban and rural China as “180 degrees” from each other, would be an understatement. As much as we think of the progression made today, the rest of the world is still trying to catch up.

Experience abroad: I was able to explore many different areas in Asia while studying abroad in Shanghai. My program took me to the ancient city of Pingyao, the first city to have China’s first national bank. Here, I was able to witness rural China, something that I could never have imagined prior to arriving to the city. It truly made me realize that this is how a significant portion of the world still lives. Over my 3 months, I was able to experience the extreme ends of Chinese culture, the most modern and most dated, something I will never forget and always will cherish.

See all photos submitted for the contest. Judges included over 30 faculty and staff members. Learn more about MBA and undergraduate study abroad opportunities at the Foster School.

2012 Minority Business Award Winners

Minority Business Awards Eight Washington businesses will be recognized for their achievements at this years’ Minority Business Awards on December 6. All of these companies have demonstrated exceptional management and revenue growth and are examples all businesses can emulate. We hope you will join us at the awards banquet to congratulate these outstanding businesses from across the state of Washington. Purchase tickets now.

William D. Bradford Award
REDAPT
Redapt offers integrated IT solutions as an innovative data center infrastructure provider and hardware reseller. Their clients range from local start-ups to Citibank and game-developer giant Zynga. Recognized by the Puget Sound Business Journal as the No.1 Eastside Private Fastest-Growing Company for 2012, Redapt’s revenue has increased six-fold to $147 million in 2011, from $23.5 million in 2009.

King County Awards
JABEZ CONSTUCTION/ST FABRICATION
They are a full service design-build general contractor and a structural steel fabricator. They have contracts with the U.S. Army Corps of Engineers and in the private sector. Jabez Construction has a unique approach to their clients: the owners emphasize that while they are selling physical products, what makes them stand out is their excellent customer service. In the last 10 years their revenue has increased from $2 million to $9.6 million, while employees have increased from 6 to 35 people.

RADARWORKS
With offices in Seattle and Los Angeles, Radarworks is a creative agency that delivers integrated marketing solutions in advertising, graphic design, interactive marketing strategies, and events services. Their clients include several big corporations, including Microsoft, Sony, and AT&T. They’ve more than doubled the size of their firm in the last two years, hiring 30 additional employees and increasing revenue from $7.5 million in 2010 to $8.3 million in 2011.

Northeast Washington Award
SPOKO FUEL WEST PLAINS
Managed by the Spokane Tribe of Indians, Spoko Fuel is the second largest convenience store in Washington State. With revenues of over $27 million in 2011, they are more than just a profit-generating mechanism; they create positive influence on the youth by providing business opportunities and jobs for the local community members.

Southeast Washington Award
RJS CONSTRUCTION
Located in Yakima Valley, RJS is a general service contractor ran by Native American women. RJS has been in business over 22 years performing commercial, industrial, and residential contracts throughout the Pacific Northwest. Their revenues grew from $1.5 million in 2010 to an expected $2.5 million in 2012, and the growth will continue as they are expanding from the private market to government sector. Client satisfaction is the primary goal of RJS and the cornerstone of each project is quality of workmanship and production.

Northwest Washington Award
GLIDING EAGLE MARKETPLACE
Operated by the Port Gamble Development Authority, Gliding Eagle Marketplace is an enterprise of the Port Gamble S’Klallam Tribe. The convenience store/gas station serves the Tribal Reservation as well as the communities of Kingston, Hansville, Port Gamble, and Poulsbo. Profits are given back to the Tribe, providing funds for education, health care, mental health services, police, and transportation. Gliding Eagle Marketplace has experienced significant growth in the last three years and their 2011 revenues were $18.9 million.

Southwest Washington Award
SUNMODO CORPORATION
SunModo, a solar panel mounting company, was founded in 2009 with the mission to provide the best value racking and mounting solutions for solar power systems. SunModo has established itself as the provider of affordable, high-quality solar mounting products. The company excels at installing rooftop and ground mounted systems. One of their most successful product lines is their patented EZ roof mount systems, which accounted for over 50% of their sales in 2011. Their revenue has increased exponentially from $0.2 million in 2010 to an expected $5 million in 2012.

Rising Star Award
C2S TECHNOLOGIES
C2S Technologies located in Bellevue, WA is the winner of this year’s Fastest Growing Business award. A Minority owned Business Enterprise (MBE) technology and consulting company founded in 2005, C2S empowers strategic change in a broad range of industries and consultant specialties by constantly adapting capabilities. The company maintains a focus on agility, regularly adding new core competencies and personnel to keep ahead of the ever-evolving demands of the market and the needs of clients.

BEDC director authors chapter on diversity in global supply chains

Michael VerchotThe Business and Economic Development Center’s national influence is extending beyond supporting the launch of business school programs based on the BEDC model to one on corporate business diversity practices. At the end of October the Billion Dollar Roundtable (BDR), an association of 18 Fortune 500 corporations that spend at least $1 billion annually with minority- and women-owned businesses, released a book entitled Supplier Diversity Best Practices that includes a chapter on diversity in global supply chain management written by the BEDC’s director Michael Verchot. The chapter reports on research conducted by the BEDC on strategies that minority-owned businesses use in serving global corporate clients.

While in Denver Verchot also attended the annual conference for the National Minority Supplier Development Council. The NMSDC is a network of major corporations seeking to increase the number of minority-owned businesses that are part of their global supply chains. The conference provided an opportunity for the BEDC to meet with corporate partners in the Minority Business Executive Program. This program, for minority-, women- veteran-owned and other small businesses is held each June and draws 25-30 business owners from across the US.  One of just three of its kind in the US, and the only one in the Western US, the program will enter its 6th year in 2013.

To get a copy of the Supplier Diversity Best Practices visit the BDR’s web site and to learn more about the Minority Business Executive Program contact Michael Verchot.

Students taking charge of improving our community

BEDC Leadership TeamThe Business and Economic Development Center Leadership Team is a student organization with a mission to provide students with opportunities to improve their professional growth outside of the classroom. The organization also helps advance the work of the Business & Economic Development Center (BEDC) in developing businesses in underserved communities.

This self-governed student club uses business to improve the community. “It’s important for students to learn the significance of giving back,” said Alyssa Arinobu, a senior majoring in accounting. “Not only can students improve their skills, but they also learn how these skills can help better the community.”

“One of the programs that we’re most proud of is our Foster School Week of Service” said Simran Kaur, a senior majoring in information systems.  “This program rallies together Foster School student organizations to work with several charities across King County. For example, each year the Leadership Team volunteers at the Renton/Skyway Boys & Girls Club, where we work with young kids on business problems and also play games and have a fun time.”

Simran is also the president of the Leadership Team. “Students realize that they can make an impact in the community by participating in this week of service.” Last year, nearly 20 student organizations assisted 11 charities. “It is a fun and easy way for us to make time to meet people in different organizations and also make a difference.”

Each year, the Leadership Team also offers a Flagship Consulting Program (FCP), where members work as business consultants for local companies and nonprofit organizations. Charissa Chin, a senior studying marketing and international business, serves as the vice president of the Leadership Team. “The FCP provides students an opportunity to gain hands-on consulting experience and make a difference in a local company or non-profit organization. It’s a win-win.”

Through this program, the Leadership Team works with a different client each quarter of the academic year. “This fall, we’re working with Explorer West Middle School to help them increase their student enrollment. This includes evaluating the school’s public perception and recommending effective marketing methods to reach appropriate target markets.”

It’s through programs like these that students grow, and learn the importance of civic service. Learn more about how you can sponsor student programs.

– Faculty perspectives, alumni happenings, student experiences, Seattle and Pacific Northwest community connections, and a taste of life around the Foster School.