On February 23, 2013 Foster students won the Intercollegiate Marketing Competition held at Simon Fraser University in Vancouver, Canada. This is the third time Foster students have won the competition. The case was about Modo, a Vancouver co-op that offers a car sharing program. The students had three hours to read the marketing case and prepare a solution. At the competition they had 20 minutes to present their solution and 10 minutes for Q&A with the judges.
The judges commented on how professional the team was and how they were the only team to “understand the total picture” of the problem and address the main issue Modo is facing.
The team was comprised of Jordan Barr, Marnie Brown and Elliott Klein, all are juniors at Foster and members of the UW American Marketing Association (AMA). They, along with Leta Beard, their faculty coach and lecturer of marketing at Foster, traveled to Vancouver to compete in the competition. Barr is president of AMA and studying marketing, Brown is studying accounting and Klein is studying marketing. The three were selected from a pool of applicants from the UW American Marketing Association.
“I am extremely proud of this team. They worked very hard on their case practice sessions and took the initiative to learn as much as they could before heading up to Vancouver. The judges came up to the team after the announcement and commented on how well they did and said they were anxious to implement some of the team’s suggestions,” said Beard.
The American Marketing Association is a national organization comprised of marketing professionals and students of marketing. The UW AMA is a student run organization at the Foster School of Business.
Competitions were king in 2012 when it comes to which blog posts were most popular. Other reoccurring themes in the top blog posts: entrepreneurship, social entrepreneurship and cleantech. Check out the five most read blog posts of 2012, starting with number five.
Fifth most read blog post
Social entrepreneur people and investor choice winners 2012
Who won the 2012 University of Washington Global Social Entrepreneurship Competition trade show prizes of people’s choice and investors’ choice awards? Take a look at the top solutions to lifting people out of poverty.
Clean-technology winners awarded $22,500 in 2012
If our future will be driven by clean-tech innovation, universities are the laboratories for a green economy. University of Washington engineering and business teams won all five prizes at the 2012 UW Environmental Innovation Challenge, with 23 teams from 5 Pacific Northwest universities competing. Teams displayed prototypes and plans for clean-tech ventures that address market problems with forward-thinking, scalable solutions.
Video: Starbucks VP Ben Packard on social entrepreneurship
Starbucks VP of Global Responsibility Ben Packard (Foster MBA 1998) spoke at the 2012 University of Washington Global Social Entrepreneurship Competition award banquet, emphasizing the significance of social justice. Companies are evolving to address issues typically handled by NGOs such as microfinance, economic opportunity and sustainable, earth-friendly ventures. Packard says, “Social entrepreneurship is nothing more than the future of business.”
$68,000 for winners of UW Business Plan Competition 2012
The 2012 University of Washington Foster School of Business’ Business Plan Competition had a record amount of seed funding and record participation. Winning start-ups are innovating in sectors like hyper-local agriculture, functional fashion, health care patient tracking technology and alternative forms of mobile advertising. UW Foster School Dean Jiambalvo says, “If you look at the basis for having a free and prosperous nation, it’s job creation. And where are jobs created? They are created by entrepreneurs.”
Most read blog post of 2012 on Foster Unplugged
$34,000 for best social entrepreneur ideas of 2012
What do bee farmers, deaf people, jewelry artists, mature women and cataract sufferers have in common? Their lives will be improved by budding social entrepreneurs who traveled from as far away as Rwanda and Bangladesh to compete in the 2012 Global Social Entrepreneurship Competition.
A team of Foster accounting students won second place in the national KPMG-sponsored Association of Latino Professionals in Finance & Accounting (ALPFA) competition in Florida this August. The UW was one of only 28 schools invited to participate in KPMG’s prestigious national competition.
The Foster team, Richard Clough, Nick Colmenero, Marilu Cruz, Vincente Silva and Veronica Talavera, received a case study about Alcoa Corporation in January 2010. For six months, the students worked on an in-depth analysis of Alcoa’s strategic risks, business processes and accounting issues. They made recommendations to Alcoa’s audit committee, and suggested ways the company could manage strategic risks. Case questions included complex probing on financial derivatives, hedging activities, risk assessment and management as well as corporate governance. In August 2010, the team traveled to Florida and presented their case findings to a panel of KPMG judges at the ALPFA convention. After winning second place, the UW team was honored at the convention’s leadership luncheon.
The ALPFA convention provided the students an opportunity to network with accounting professionals and attend Microsoft Excel learning sessions. They also explored potential career paths at a national job fair.
Foster’s 2010 team had three mentors: UW faculty member Patricia Angell, KPMG manager Matt Quint and Foster graduate Jacob Brownfield.