On Thursday, March 5, 2015, the Executive Development Program (EDP) at the Foster School of Business celebrated 45 years of advanced business education. Alumni representing over 40 organizations attended the event, from established companies like Microsoft, Nordstrom, and Boeing, to numerous startups created by Seattle entrepreneurs.
Founded in 1970, under the name “The Management Program,” EDP is designed to help individuals improve their understanding of the big picture of business. The program begins and ends with strategy and touches on every aspect of business in between. “It tells you how all these things fit together,” said Professor Charles Hill.
At the event, Dean Jim Jiambalvo talked about how the program had a major impact on the Foster school, specifically the quality of the faculty. “Executives have a higher standard, and they drove us to meet those standards,” Jiambalvo said. Often, executives enrolled in EDP want to know how to immediately apply what they just learned. “It impacted my teaching for a long time,” said Jiambalvo.
Bill Ayer, former Alaska Airlines CEO and a long supporter of the Foster School, provided a keynote address on leadership, sharing numerous lessons and pieces of advice as he talked about his experience in a challenging industry. Among the numerous takeaways of the speech, Ayer discussed the primacy of the customer, as well as the importance of decisive action: “The perfect plan will never be perfect,” he said.
Over the course of the keynote, Ayer listed eight lessons he wanted to pass on to other executives:
- Get the right people on board
- Create a sense of urgency
- Focus on one to two big ideas at a time
- Always have metrics, what you measure is what gets done
- Focus on what you can control over the long-term
- Be totally and completely customer focused
- Don’t confuse being popular with doing the right thing
- Develop strategic partnerships
The evening ended with an invitation for EDP alumni to share their experiences about the program. One alumna, Mamtha Banerjee, founder and CEO of MagicFlix, talked about how EDP helped her become more than a technical expert, giving her the business skills to take part in strategy and decision making. “The best part was really the case studies—getting everyone’s point of view from different industries,” Banerjee said.