@Mays - Fall 2010

@�MAYS Fall 2010

Mays Business School, Texas A&M University

Ace the interview: Best practices for both sides of the desk

Features20 Ace the interview Interviewsareachallenge,bothforthe

employerandprospectiveemployee.MurrayBarrick,Maysprofessorofmanagement,shareshisconsiderableknowledgeonthetopic.

25 Project X ForstudentsintheMaysExecutiveMBA

Program,homeworkisrealwork.Whataretheylearningandwhydoesitmatter?

Contents

10 12

@Mays Fall 2010

Director of Communications and Public Relations Pam Wiley

@Mays EditorChrystal Houston

Editorial Assistant Shae Ford

DesignLinda Orsi, HSC Marketing and Communications

IllustrationTamara Strecker

PhotographyGabe Chmielewski Michael KellettJim Lyle Nicholas Roznovsky

© 2010 Mays Business School

@Mays is an semi-annual publication for the former students and friends of Mays Business School at Texas A&M University. This publication is made possible by the generosity of private donors.

Monthly news updates are available in Mays’ online magazine, Mays Business Online, at maysbusiness.tamu.edu.

Information about the majors, degrees and programs offered by Mays Business School is available at mays.tamu.edu.

One dime at a time Funny man

@�MAYSMays Business School, Texas A&M University

Departments02 over Coffee AsipofnewsfromthebuzzaroundMays

9 network Maysstudents—currentandformer—that

aremakingadifference

15 9-to-5 Tipsandtrendsfromtheworkplace

29 Partners PeoplethathelpMaysthrive

33 Ideas@Mays Facultyresearchforyourcareer

16 29 33

Fall 2010

Trial by fire Fire in the belly Paying it forward

2 @MAYSFall2010

Over Coffee

Singapore success

A fterthreearduousroundsofpreparation,presentation,and

discussion,ateamofMaysmanagementinformationsystemsundergradsplaced3rdinafive-dayinformationtechnologycasecompetitioninSingaporewheretheyfacedb-schoolstudentsfromaroundtheworld.

The2010APEXGlobalITCaseChallengehadteamsserveashypotheticalconsultingfirms.Studentsweretaskedwithsolvinginformationtechnologyproblemsintermsthatbusinessleaderscouldunderstandandimplement.

Congratulationsto(L-R)teamcoach‘JonJasperson,assistantINFOdepartmentheadanddirectoroftheCenterfortheManagementofInformationSystemsatMays,andstudentsKevinAvila’10,HeatherHewett’10,andNicoleCrum’10.

We are the championsmays boasts some of the best business students in the world. now, we have even more proof to back the claim. Check out these big wins from our current students competing with the brightest minds from across the globe.

Mays MBAs place 4th in MIT competition

Itwasanintensecoupleofdays,butfortheteamofMaysMBAstudentstoparticipateinthenationalOperationsSimulation

CompetitionhostedbytheMITSloanOperationsManagementClub,thestresswasworththereward:theyplaced4thoutofthefieldof75teamsfromtopschools.

Forthreedays,teamsmonitoredtheproductionofasimulatedfactoryaroundtheclock,tweakingdetailstoboostproductivityandefficiencyonaminute-by-minutebasis.The

teamsweretestedontheirabilitytoprocessinformationquicklyandtomakeaccuratepredictionsaboutdemandonthefly.

TheMaysteamfinishedjustbehindteamsfromtheUniversityofCalifornia,SanDiego(teamsplaced1stand3rd)andNewYorkUniversity.Teammembersincluded:AndrewFolkert’11,RyanGoodnight’11,PraveenJain’11,andTelynJoseph’11.

Jumping for joy: What’s better than a perfect harmony between human resources and information technology? Placing 3rd in a global competition.

mays.tamu.edu 3

Over Coffee

ForateamofMS-managementinformationsystemsstudents,atriptoLasVegaswasnovacation.Theyparticipatedin

theInternationalCaseCompetitionontheStrategicValueofITManagementattheCATechnologiesWorldConference,placing2ndamongcompetitorsonaglobalstage.

Theeventbroughttogetherstudentsfrombusinessandinformationtechnologydisciplinestoexplorethestrategicvalueofinformationtechnologymanagementforanorganization.

CongratulationstoMaysstudentparticipants(L-R)BedantaTalukdar’10,BethanyLipton’10,andAnkitJagwani’11(farright),picturedherewithCitigroupSeniorVicePresidentBrominMenezesandCATechnologiesCEOWilliamE.McCracken.

Echoingauniversity-wideefforttoreduceenergyconsumptionby20

percent,theMayschapterofStudentsinFreeEnterpriseencouragedfaculty,staff,andstudentstoreduce,reuse,andrecycle.TheycalledtheefforttheWehnerEnvironmentalSustainabilityChallenge.Whentheteampresentedtheir“SaveWehner”projectataregionalcompetition,thejudgeswereimpressed:theycamehomewithfirstplacecredentialsandproceededtothenationalcompetitionthefollowingmonth.

TheireffortaskedtheMayscommunitytodedicatethemselvestoenergy-savingactionssuchasturningoffequipmentandreplacingdisposabledrinkingcontainerswithreusableones.Theyfollowedupwithanenergyaudittogaugeoveralluseandwasteofenergyinthebuilding,andcommunicatedenergyconsumptiondataonaregularbasis.

Judgesweren’ttheonlyonesinterestedintheMaysstudents’project:theefforthascaughttheeyeoftheuniversity’sOfficeofSustainability.Theirprogramhasthepotentialtoexpandcampus-wideinupcomingsemesters.

Going green to bring home the gold

Congratulations to the SIFE team: Kaitlyn Rice ’12, Anna Dinwoodie ’12, Lacey Bruner ’12, Hallie Schaper ’12, Lindsey Wells ’11, Rosa Salas ’11, Arielle Robinson ’11, Prashant Ramachandran ’10, Austin Pooley ’12, Martha Sontheiner ’12, Erin Taylor ’12, Ashley Nunn ’12, and Enedina Nunez ’13. The group is lead by Cindy Billington, associate director of Graduate Business Career Services, who is the SIFE advisor.

Jackpot! On a recent trip to Vegas, this team of Mays students won big without setting foot in a casino. They placed 2nd in a global competition hosed by CA Technologies.

Mays students nab 2nd place in international competition

4 @MAYSFall2010

Over Coffee

Student competition improves processes in Texas hospitals

A tleast1.5millionAmericansare

injuredeveryyearbecauseofmedica-

tionerrors,addingbillionsofdollarstothecostofhealthcare.Determiningwhichmedica-tionsapatient

istakingpriortoadmission,which

aregivenduringahospitalstay,andwhich

areprescribedwhentheyaredischarged—andmakingsure

thatnoneoftheseinteractwithunin-tendedconsequences—isavitalprocesscalledmedicationreconciliation.

Inunderstaffedhospitals,it’saprocessthatisfullofpotentiallylethalchallenges.

StreamliningthisprocesswasthegoalofaninterdisciplinarycompetitionhostedbytheTexasA&MHealthScienceCenterandTexasA&MUniversity.MaysfinancestudentsRawlesBell’11,FrederickLou’11,SarahMullis’10,andRyanO’Dwyer’11teamedwithstudentsfromindustrialengineering,nursing,andpharmacyprogramsatA&Mtoevaluatemedicalreconciliationpracticesatlocalhospitalsandprovidepracticalsolutionsforimprovement.

Itwasmorethanalearningexercise:solutionshavebeenimplementedinhospitals.

Howmanylives—andhowmuchmoney—couldbesavedifallofa

patient’shealthcareinformation,includingtestresults,orders,medications,healthhistories,andinsuranceinformation,wasstoredinonerecord,easilyaccessiblebyhealthcareprofessionalsanywhere?

ThisisthefuturePresidentObamaenvisionsforhealthcareintheUnitedStates,butitisdependentonthesharpestmindsinmanagementofinformationsystemsandinformationtechnology.Througha$5.2milliongrantfromthefederalgovernment,ArunSen,professorofinformationandoperationsmanagement,andtwoA&McolleagueswilldeveloponeoffourregionalextensioncentersforhealthcareinformationtechnologyforthestateofTexas,creatingaresourcefordoctorsaspatienthealthcarerecordsbecomedigitizedincompliancewithgoalssetbytheObamaadministrationforapaperlesshealthcaresystem.

Sensaysthatsoonhealthcareinformationwillbeavailableviaanelectronicpipelinethatwillmovepatientrecordsfromlocaltostatetonationallevels.TheNationalHealthInformationNetworkisalreadyunderdevelopment.SenandA&McolleaguesRobertMorrowofRuralandCommunityHealthInstituteandAmarnathBanerjeeoftheDwightLookCollegeofEngineeringatA&MarecreatingthesystemthroughwhichTexashealthcareproviderswilluploadpatientinformationtothisnationalsystem.TheteamofresearchersfromA&Mwillbeontheleadingedgeofdesigninganelectronichealthrecord(EHR)systemtobeusedforthestate.

ThesethreeresearcherswillalsoestablishtheCentrEastRegionalExtensionCenterforHealthCareinformationtechnologyandahealthinformationexchange—ahubforproviderstocoordinatewiththenationalsystem.

Streamliningpatientrecordsby

Mays prof has a hand in nationwide overhaul of healthcare information technology practices

digitizingandsharingthemisstilloptionalforhealthcareproviders.By2015,providersmustparticipateinthenationalnetwork,orrisknonpaymentorpartialpaymentfromMedicareandMedicaid.ProvidersseekingtouseEHRsfaceavarietyofchallenges,suchasassessingneeds,selectingandnegotiatingwithasystemvendororreseller,implementingprojectmanagement,andinstitutingworkflowchangestoimproveclinicalperformanceandultimately,outcomes.PastexperiencehasshownthatlocaltechnicalassistancecanresultineffectiveimplementationofEHRs.

Therewillbe60suchcentersintheU.S.Sen’sworkwillinvolveresearchinghowpatientinformationiscurrentlyhandledanddevelopingamoreefficientprocessasprovidersmodernizetheirrecordsystems.Thecenterwillalsoconnectproviderswithvendorswhospecializeindigitizingrecords,andwillserveasadatarepositoryforallareaproviders.

Thefederalfundingforthecenterwilllastforfouryears,withthebulkofthemoneyprovidedinthefirsttwoyears.Byyearsthreeandfour,Sensaysthecentershouldbeaself-sufficientbusiness,asdoctorswillpayfortheservicesandresourcesprovided.Senpredictstherewillbealargedemandfromareaprovidersasthecenteradvanceshealthcareintheregion.Theultimatemeasureofthecenter’seffectivenesswillbewhetherithasassistedprovidersinbecomingusersofcertifiedEHRtechnology.

Contact Arun Sen, professor of information and operations management, at [email protected]

mays.tamu.edu 5

Over Coffee

ThehillsideattheWolfPenCreekamphitheaterinCollegeStationwas

dottedwithelectricbluetheeveningofApril1,asnearly700peoplein“ProjectConant”teeshirtsgatheredforabenefitconcert.Featuring“Webleedmaroon”countrycroonerGrangerSmith’02,theeventnettednearly$10,000tobeaddedtoascholarshipfundinJeffreyConant’sname.

Theinitialgoalforthisfundwas$25,000,whichwasreached,andresetto$30,000.Oncefullyfunded,itwillbethelargestendowedscholarshipintheDepartmentofMarketing.Nearly$28,000hasnowbeensecured.

BrandonColeman,Jr.’78,agraduateandasupporterofthemarketingdepartment,aswellasapersonalfriendofConant’s,hasprovidedthefundingforthefirststudent,KevinCase’11,toreceivetheConantmemorialscholarship.

ThebenefitconcertwastheculminationofeventshonoringthebelovedprofessorwhowaslosttoillnessinJune2009.Earlierintheday,aceremonyandreceptionwereheldastheDr.JeffreyS.ConantBehavioralResearchLabwasdedicatedintheWehnerBuilding.

ThelabisafittingtributetoConant,saidBalaShetty,executiveassociatedeanandLetbetterChairinBusiness,asitscreationwasConant’sbrainchild.IthasbeeninusesinceAugust2007.“Jeffvigorouslyadvocatedforabehaviorallab,”hesaid,notingthatwhilespaceinthebuildingwasatapremium,Conantsuccessfullyarguedforthecollege-widebenefitsoftheresearchfacility,whichhelovedtotellpeoplewas“oneofthebest,probablythebestbehavioralresearchlabinthecountry.”

KelliHaws,assistantprofessorofmarketing,saysthelabissignificant:“Wethinkit’sdestinedtoplayamajorroleinenhancingthereputationofthemarketingdepartmentatMaysandtheuniversityasawholeforscholarlyresearch.”

Conant’s contributions honoredThe crowd was 700 strong as friends gathered to honor the life and legacy of Jeffrey Conant, professor of marketing. The scholarship in his name is almost fully funded. You can add to the fund by visiting mays.bz/conantsch.

Dr. Jeffrey S. Conant april 5, 1955 - June 30, 2009

Author unknown

A good teacher is like a candle—it consumes

itself to light the way for

others.

6 @MAYSFall2010

Over Coffee

Mays faculty recognized internationallyWhile many of our faculty members deserve recognition and applause, a handful have received significant accolades in the past few months that we had to mention.

R. Duane IrelandR. Duane Ireland has been elected to an officer position on the board of governors of the Academy of Management. He will serve as president of the academy in the fourth year of the five-year term. He has also been chosen to the highly selective body of Fellows for the Strategic Management Society, placing him in the top one-half percent of scholars in his field. Ireland is a Texas A&M University Distinguished Professor of Management and the Carroll and Dorothy Conn Chair in New Ventures Leadership.

Murray R. BarrickMurray R. Barrick was named a Fellow of the Academy of Management—a distinction earned by less than 1.5 percent of the nearly 20,000 members of the academy worldwide. He is a Texas A&M University Distinguished Professor of Management, department head, and the Paul M. and Rosalie Robertson Chair in Business. (Read about Barrick’s research and accomplishments on page 24.)

Michael A. Hitt Michael A. Hitt was recognized in a list of top researchers in business and economics, prepared by Times Higher Education. The list ranks the top 68 authors in the fields of economics, finance, and business management by the number of papers published from 1970 through 2009 that were cited 50 or more times. Hitt is the top ranked scholar in the field of management, with 30 papers averaging over 100 citations each. Overall, he is listed at #11. He is a Texas A&M Distinguished Professor of Management and the Joe B. Foster ‘56 Chair in Business Leadership.

L. Paige FieldsL. Paige Fields received the Academy of Finance 2010 Teaching Excellence Award. This is the only international teaching award available in the discipline of finance. Previously, she has been recognized for outstanding teaching at the college and university levels. Fields is an associate professor of finance. She was recently named a Mays Teaching Fellow for innovation. This is the second time she has received this distinction.

mays.tamu.edu 7

Over Coffee

Undergraduate program•Bloomberg BusinessWeek:16th(U.S.public)• U.S. News & World Report:19th(tied,U.S.public)

Individual departments

Accounting • Financial Times:2ndU.S.public(10thglobally)forundergraduate

program• U.S. News & World Report:14thU.S.publicforundergraduateprogram• Public Accounting Report:Graduateprogramranked5thU.S.publicand

doctoralprogramsranked11thU.S.public

Management • U.S. News & World Report:9thU.S.publicundergraduateprogram•Ranked6thforfaculty’simpactontheliteratureovera25-yearperiod

accordingtoastudypublishedintheJournal of Management•Ranked3rdforresearchproductivityintopmanagementjournals

Supply Chain Program •AMRResearch:3rdU.S.public(tied)forscopeofprogram;6th(tied)

forindustryvalue

Full-Time MBA program• Financial Times:1st(U.S.public),valueformoneycategory• Forbes:9th(U.S.public)• U.S. News & World Report:13th(U.S.public)• U.S. News & World Report:2nd(U.S.public)forplacementafter

threemonths

Executive MBA program• 1stoverall,ReturnonInvestment,The Wall Street Journal

ForallMaysrankings,visitmays.bz/academicrankings.

How do we measure up?

A reviewofrecentrankingsshowseducationatMaysBusinessSchoolisstillamongthebestinthenation.

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Would-be entrepreneurs video blog bootcamp

Inbasictrainingjustsevendaysafterherhighschoolgraduation,Andrea

CarltonplannedtomaketheArmyhercareer.Duetoinjuriessustainedintheservice,12yearslatersheisnowmedicallyretiredandlookingforanewdream.Themotheroftwoyoungsons,sheispassionateaboutchildren.Herbigidea?Achildcarefacilitythatoffers24-hourcareforchildrenofpeoplewithnon-traditionalworkschedules.

CharlesMcKellarusedtomakealivingjumpingoutofplanesfortheArmy.Today,he’sreadytotakeadifferentkindofleapbylaunchingabusinessthatincorporateshisknowledgeoftechnologywithhisloveforpeople.Buildingonthefreelanceworkhedoescurrently,hisventurewillprovideITtrainingandjobskillstodiversedemographics,fromat-riskyouth,toinjuredsoldiers,totheelderly.

Don’tletStephanieBowerspetitestatureandsweet,Tennesseedrawlfoolyou—thisSouthernbelleisaformerArmysergeant,withtoursofdutyinIraqandAfghanistanunderherbelt.ShecurrentlyworksataVAhospital.Herbusinessideawasbornoutofherexperiencesasacaregiverandawoundedsoldier:shewantstoprovideapatientadvocacyservice.

Andrea,Charles,andStephaniewereamongthe18graduatesofthe2010classoftheEntrepreneurshipBootcampforVeteranswithDisabilities,afreeprogramofferedatMaystoveteranswoundedintheservicesince9/11.Toreadtheirstoriesandwatchthevideoblogstheycreatedduringtheirintenseweekoftraining,visitmays.bz/ebv2010.

8 @MAYSFall2010

Over Coffee

Ethics 101: follow upDid you enjoy the cover story of the spring 2010 issue of @Mays? If so, you’ll want to check out “Bottom Line Ethics,” the blog of Michael Shaub, clinical professor of accounting. From college athletics to the Gulf oil spill, Shaub discusses ethics in a variety of everyday situations. Lively comments often follow. Check it out at mays.bz/ethicsblog.

Survey says…Afterourlastissueof@Mays inspring2010,weaskedreaderswhattheythoughtaboutthepublication.Here’swhattheysaid.

75%80%86%100+

responded “excellent” or “very good” when asked to rate the overall quality of the magazine.

said the magazine strengthened their connection to Mays.

said that they learned something useful from the magazine.

the number of comments generated by the cover story on ethics—the favorite article

What do you think of this issue? Share your opinions at mays.bz/atmaysfall2010

Readers mentioned a desire to see recent rankings included. (See page 7.)

Quiz time! Mays faculty faces Facultymembersgivealotofquizzes,butseldom

dotheyhavetotakethem.Todaywe’veturnedthetablesonAnnieMcGowan,DeloitteProfessionalProgramdirectorandassociateprofessorofaccounting.Sheteachesanddoesresearchprimarilyintheareaofcostaccounting,butheroutside-of-workinterestsdon’tinvolvebalancesheets.

What’s your dream travel destination? Why?

Sometimes I dream of being on the sandy white beach with a book. At other times my dreams take me to a ma jor city with great shopping, great food, and lots of entertainment. The target for my next ma jor vacation is Italy. I read the book “Eat, Pray, Love” and was inspired by all of the food she ate.

What’s your secret talent?If I told you it wouldn’t be a secret.

Hobbies?Reading, dancing, and travel.

What’s your favorite business news source? BusinessWeek.

What one piece of accounting advice do you have for readers?As in all aspects of life, take special care to maintain balance.

Andrew Pappas ‘10, idea man behind Spoons.

mays.tamu.edu 9

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Business education never tasted so good It’sasimplesetup:pickupadishandvisittheself-servedispensers

featuringarotatingarrayofdelectablefrozenyogurtflavors,suchasgoldencakebatterandstrawberryfieldsforever—withtheaddedbonusof“low-fat”and“fatfree”inthetitletoremoveallguiltasyoufillthebowltothebrim.Thenmovealongtothebuffetoftoppings:coconut,freshfruit,cookiecrumbles,candies,andsauces.Yourmasterpiecesundaeisthenweighedandyoupaybytheounceforthefullycustomizeddessertcreation.Areyoudroolingyet?

ThiswastheideapitchedbyagroupofFellowsstudentstoentrepreneurDavidMebane’98.Mebaneshapedthebusinessplan(originallyaclassproject)andagreedtomakethedreamareality.Today,SpoonsYogurtonTexasAvenue,afractionofamilefromcampus,isoneofthebusiesteateriesintown.Thelineofeagerpatronsusuallystretchestothedoor,andthechancesoffindingaseatareslim.

Morethanarestaurant,SpoonshasbeenanentrepreneuriallearninglabforMaysstudents.AndrewPappas’10,astudentintheProfessionalProgram(financetrack),wasinvolvedintheoriginalconceptpresentationtoMebane.Astheideasolidifiedintoabusiness,Pappasandclassmateswereinvolvedinmanyofthedecisions,fromproductselectionandpricingtothepurchaseoffurniturefortheshop.Pappasalsolearnedhumanresourcefunctions,ashehelpedtrainnewemployees,anddevelopedaninventorymanagementsystem.

PappassaysMebanehasbeen“anunbelievablementor,”andthattheexperiencewithSpoons’successhasbeensurreal.Whilehisinvolvementwiththebusinessisnowhamperedbyhisclassesandinternshipsashecompleteshisdegree,heisintouchwithMebaneoften,discussingtheday-to-daydetailsandthefutureofthebusiness.

MebaneispreparingtoopenfourmorelocationsincollegetownsinKansas,Tennessee,Arkansas,andGeorgia.TwoadditionallocationsinCollegeStationareintheworksaswell,saysSpoonsYogurt,LLC,generalmanagerLoganPrewett’09.Prewett,alsoafinancestudent,wasinvolvedintheplanningandopeningoftheshop.HenowoverseesoperationsofthemainlocationinCollegeStationandisatthehelmoftheplannedexpansion.

Besidesbeingsimplydelicious,Spoons’trademarkisthewayitinteractswiththecommunity.TheshophasbecomeapopularhangoutforFishCampgroupsandotherorganizations,andoftenpartnerswithindividualsandgroupstoraisemoneyforcharitablecauses,fromHaitirelieftoLittleLeagueteamjerseys.Theyinviteanygroupto“spoon”withthem,offeringprofit-sharingopportunitieseverydayfromnoonto2p.m.

Thatcommitmenttothecommunityisveryintentional,saysPrewett,whocreditsthesupportofthecommunitywiththesuccessofthebusiness.Fromthebeginning,givingbackwasanintegralpartofthebusinessplan.Clearlyit’spayingoff—perhapsbecauseitwascreatedinpartbybusiness-savvyMaysstudents.

Network

TheMickeyMouseClubhousethemesongplaysoverthespeakersandsix-

year-oldCayleewigglesandgigglesandclapswiththeotherminidancersonthestage,herfacepaintedwithcatwhiskersandherblondhairpulledbackinaponytail.Healthyandhappy,shelookslikealloftheothergirlsherage.

Thatisamiracle.WhenCayleewasbornatamere

27-weeksgestation,sheweighedlessthanone-and-a-halfpounds.Morethanthreemonthstooyoungtobeoutofthewomb,Cayleewasplacedinanincubatorandconnectedtodozensoftubesthatkeptheralive.Withoutateamofskilleddoctorsandnurses,andresearcherswhomakeadvancesinpretermneonatalcare,Cayleewouldnotbedancingtoday,wearinga“NICUGraduate”teeshirt.

CayleeisthedaughterofStaceyCole,assistantdirectorof

GraduateBusiness

Thanks in part to Mays graduate students, $160,000 was raised for March of Dimes through the Brazos Valley March for Babies event.

Saving babies, one dime at a timemays graduate students volunteer with march of Dimes

CareerServicesatMays.WhentheMaster’sLeadershipCouncil(theorganizationofgraduatebusinessstudentsatMays)waslookingforaserviceproject,Cole,whoadvisesthegroup,suggestedacauseclosetoherownheart:TheMarchofDimes,theorganizationthatseekstoimprovethehealthofbabiesbypreventingbirthdefects,prematurebirthandinfantmortality.Sinceherdaughter’sbirthin2003,Colehashelpedtoraisemorethan$10,000forMarchofDimes.

Thestudentsralliedtothecause.OnMay1,MaysstudentsarrivedatWolfPenCreekAmphitheaterinCollegeStationat6a.m.tosetupfortheannualfundraiser

MarchforBabies5KWalk/Run.Morethan500supportersattendedthe5K,whichincludedentertainmentandchildren’sactivitiessuchasbouncyhouses,facepainting,basketball,

hula-hooping,andpictureswiththeDisneyprincesses.

Studentscompletedthesetupandcleanup,hostedeventbooths,handedoutwater,directedtraffic,andkeptthingstightlyrunning.“Wecouldnothavedone

thiseventwithouttheincrediblehelpofthestudents,”saidShonaQuiring,communitydirectorforMarchofDimesinBryan/CollegeStation.“Theywerediligentinmakingsureeverythingransmoothly,andmadesureallthekidsandtheirfamilieshadablast.”Studentsparticipatingwere:TeresoHerrera,AlekSchmidt,LaurenBortka,MimiBowman,GarrettStanley,LaurenMcGinty,JennaJanik,AmyThompson,GeorgeHolzwarth,AnnicaMcDermott,NicoleKresse,MattWood,SteveLionetti,LindsayBrown,AmandaEller,andChelseaSauder.

Itwasaneye-openingexperienceforthestudents.“Ididn’trealizehowmanybabiesarebornprematurelyandthatsomanyoccurrighthereinCollegeStation,”saidLindsayBrown,anMSaccountingstudent.“IamgladIgottobeapartofsuchafantasticexperiencethatcelebratesandrememberstheselives.”AccordingtotheMarchofDimeswebsite,morethan500,000babiesarebornprematurelyeachyear.Thesebabiesfacepotentiallysevereandlong-termcomplications.

AlongwithCole,LoriDonnell,associatedirectorforemployerdevelopmentandservicesintheGraduateBusinessCareersServicesoffice,helpedtoorganizethestudent’sinvolvementintheMarchforBabies.ColeandDonnellbothserveontheboardofthelocalchapteroftheMarchofDimes.“Thiswalkandorganizationstandsupforthetiniestofhumanbeings,givingthemandtheirfamilieshope,healthandoftenmiraclesthatwouldnotbeavailablewithouttheeducationandresearchMarchofDimesprovides,”saysDonnell.“Withoutthesupportandgenerosityofthesestudents,MarchofDimeswouldnotbeabletoprovidethisservice.”

“I am glad I got to be a part of such a fantastic experience that celebrates and

remembers these lives.”

mays.tamu.edu 11

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“A youngwomanofexceptionalhonorwholeadsbyexample.”

ThatwashowanominatordescribedMorganKnocke’10inaletterofrecommendationfortheBrownFoundation-EarlRudderMemorialOutstandingStudentAward.Knocke,afinancemajor,isthethirdconsecutiveMaysstudenttowintheaward—thehighestundergraduatehonorgivenatA&M.

KnockeandtheotherrecipientswerepresentedtheirawardsbyTexasA&MPresidentR.BowenLoftinduringthespringcommencementceremony.TheBrown-Rudderaward,whichincludesacashgiftof$5,000,ispresentedeachspringtostudentswhoexemplifytheleadershipandrelatedtraitsofthelateGeneralEarlRudder,aWorldWarIIherowhoservedaspresidentofTexasA&Mfrom1959untilhisdeathin1970.

Whileher4.0GPRhadhernominatorscallingheracademicachievements

“remarkable,”KnockewasalsopraisedforhervolunteereffortstobringeducationalandmedicalaidtoKenya.Payingherowntravelandlivingexpenses,KnockespentthesummerthereworkingwithComforttheChildrenInternational.

DeanJerryStrawsersaidhe“cannotimagineamoredeservingrecipientoftheBrown-RudderAward.Inadditiontoheroutstandingacademiccredentials,Ms.Knockehasdemonstratedremarkablelevelsofselflessserviceandleadership.”

AtMays,KnockeservedtwoyearsascoordinatoroftheFellowsprogram.ShealsofoundedtheHorizonsprogram,whichprovidesresourcesforstudentspreparingforcareersinstrategyconsultingandinvestmentbanking.Throughthisprogram,Knockeworkedtoconnectcurrentstudentswithformerstudentmentorsintoppositionsinavarietyoffields.Asaresult,theprogramhasraisedawarenessaboutcareeropportunitiesintheseareas

whileeducatingfirmsacrossthecountryaboutthevalueofanAggiegraduate.

Life of leisure? Not quite.Bravenec retires, pursues pro bono work

Another Mays student wins A&M top award

Aggie Pride: What does it take to be the best? How about a 4.0 GPR added to selfless service and leadership experiences. Morgan Knocke ‘10, is the third consecutive Mays student to be selected for the Brown-Rudder Award.

A fternearlyfourdecadesofteachingatA&M,LorenceBravenec,professor

ofaccounting,hasreexaminedhispersonalbalancesheetanddecidedtoredistributehistimeandenergyassets:thefall2009semesterwashislastinaMaysclassroom.Hehasnowretired.

Bravenecjokesthathe’sbeenbusiersinceheretiredthanhewaswhenhewasworking.Perhapsthat’sbecauseinadditiontoagreateremphasisonfishingandfamilytime(“andotherjobsdecreedbymywife”),he’sstillworkingonatextbook.It’saprojectheispassionateabout:hewon’tmakeanythingfromitspublication,anditwillbedistributedtostudentselectronicallywithoutcost.Thisissignificant,hesays,

asat$100(ormore)apiece,thecostoftextbooksputsalargeburdenonalreadycash-strappedstudents.

Afterthetextbookisfinished,Bravenecplanstovolunteerhistimeasaprobonolawyerforthecommunity,ashisrootsareinlawaswellasaccounting.Infact,hesayshegotintoteachingbusinesscoursesalmostbyaccident.HehadpracticedlawinDallasanddecidedtorelocatehisfamilytoCollegeStation.TeachingatA&Mwassupposedtobeasidejobwhilehebuiltaclientbaseinthenewlocation.Instead,hefounditsuitedhim.“It’sbeenaniceride,”hesays.“I’vehadsomeveryfinestudents.”Heestimateshehastaughtbetween4,000and5,000Aggiesinhis39yearsatA&M.

Writing text books, practicing the law pro bono, fishing…Bravenec’s retirement plans have little to do with relaxing or slowing down.

12 @MAYSFall2010

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Funny mantim Washer ’89 carves career in corporate comedy

Fearandexcitementbattlewithinhischestashewavestothecrowdandreachesforthemicrophone.Thismomentishis

dreamcometrue.Adreamhe’sdreamedforyears:hisfirststand-upperformance.Hiswifeandfourfriendscheerhimon.Theirattendanceispartofthereasonthisdayhasarrived.It’sa“bringer”show—hehadtobringfivepayingcustomerswhowillmeetthetwo-drinkminimumtopayforhischanceforafewminutesatthemic.

Hestartsstrong.“Aftergraduatinghighschool,IwenttoHarvard.(pause)Andstayedmostoftheafternoon.Iboughtthatshirtthatsays‘HarvardLacrosse’soIcouldmisrepresentbothmyintellectandathleticcapability.”Peoplelaugh.Yes!Theirresponseloosenshimupabit.Toosoon.Hebombs.

The first time I performed was at a club called Stand-Up New York, on Broadway. I had a five-minute set. I got maybe two-and-a-half minutes into it when I completely forgot where I was. I was too green to know that you need to have a set list—you write down ‘the wife, the parachute, and your father’—the key words for the story you’re going to tell, instead of trying to memorize the set like I did. I stuttered a bit, then started improvising with the audience, and then I figured out where I was and finished up. My wife felt so bad for me. I’ve had jokes bomb but that, for sure, was my biggest failure.

Abysmal?Perhaps.Still,theadrenalinesurgefrombeingonstagedrovehimon.Therewasnogivingup.

Timhadalwaysbeenfunny,butitwasn’tuntil1998thathetookaleapoffaithtodoitforaliving.Hefeltacalling.“TherewasamomentofrealizationthatIneededtopursuecomedy.Ineededtoquitbeingafraidofit.”HisdayjobwasasvicepresidentatInterpublicGroup,aglobalmarketingfirm.HeenrolledinanimprovcomedyclasstaughtbycomedienneandactressAmyPoehler(ofSaturday Night Live)tohonehiscomedicchops.

“ThefirstdayIcameveryclosetorunningoutoftheclass,”hereminisceswhenrecallingtheintroductoryexercise,“hotbox.”Awordisprovided,andthewould-becomiccreatesasongaboutthatwordonthespot.“Iwasonstagewith10strangers.Itscaredtheheckoutofme…OnceIgotpastmyfearofthatclass,itgotaloteasier.”

WhatwasitlikeworkingwithsomeoneasfamouslyfunnyasPoehler?“Amyisaveryencouragingpersonandagreatteacher.”

Make ‘em laugh: Customers have higher expectations for corporate communication thanks to social media—they want to be entertained and interacted with, not merely informed. Tim Washer ‘89, senior manager of social media at technology firm Cisco Systems and part-time comedian, is just the man for the job.

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Shewasintimidatingatfirst,though.“She’ssoincrediblyfunnyasanimproviser.She’sobviouslyveryfunnyonTV,butIthinkshe’sevenfunnierasanimproviser.”

Stickinginthatclassledtomoreofthestuffofdreams.TimperformedwithPoehlerontheComedyCentralseriesUpright Citizens BrigadeandwentontoappearregularlyonLate Night with Conan O’Brien.HesubmittedmaterialforThe Late Show with David Letterman,celebratingwhenhisjokesmadetheirwayintotheopeningmonologue.Hestarredinthecommercial“Filibuster”forCablevision,winningabestinclassawardfromtheCableandTelecommunicationsAssociationforMarketing.

Threeyearsfromthatwobblystartatthebringershow,hequithisdayjobtofocusonhiscomedycareerandanideahehadforascreenplay.Fearandexcitementbattledagain.Fearwonforawhile.Timstruggledwithdepression,filledwithanxietyabouthiswork.Unlessyou’reJerrySeinfeld,thelifeofacomedianisnolaughingmatter.

I learned pretty quickly that working the New York City clubs wasn’t going to pay the bills and wasn’t the best use of my time. Even an experienced comic typically only makes a hundred bucks a night unless he is a celebrity. It’s a rotten life and it doesn’t pay any money. When I was performing with a lot of other new comics, my wife wasn’t enjoying it as they often rely on sex and profanity for laughs. I’ve always worked clean. I quit doing the clubs.

FindingouthewasgoingtobeafathermotivatedTimtolookforabetterpaycheckandmoresecuritythanfickleaudiencescouldprovide.HehadanMBA,experienceinsalesandtechnology,andadesperateneedforanoutletforhumor.Acareercoachredirectedhimtoeventhostingandspeechwriting.

TimtookajobasaspeechwriterforIBMbuthefeltlikeafailurethatfirstdayonthejob.Thistimefearwasoflong,drearydaysnotusinghisrealtalents.Wasthisgivingup?Hadhecoppedout?HedidgobacktheseconddayatIBMandhe’sgladhedid.Daytwoonthejob,heansweredthephoneandheardaVPsay,“Iheardyou’refunny.Canyouwriteajokeforme?”

“HereIamonatIBMthinkingImayhavetogiveuponcomedywhenadooropensformetobefunnyatIBM…that’showmyjobevolved.”WhilelearningtheropesandpushingformorehumoratIBM,healsobuiltasidecareer,emceeingeventseveningsandweekends.He’shostedarangeofeventshonoringtherichandfamous,fromGeorgeH.W.BushtoOscarwinners,toArchbishopDesmondTutu.Healsostarredinafewmorecommercials,forT-MobileandBudweiser,plustwosegmentsonThe Onion Sports Network.

What’sbeenhisfavoritegig?WorkingwithCatherineZeta-JonesontheT-Mobilecommercial(he’stheguywiththeline“Ilikeitwhenyousaythings.”),andthebitsforThe Onion,wherehedidamock-dopingpieceaboutgenie-useinprofessionalbaseball(“UntilwehavehardevidencethatOverstreetknowinglybenefittedfromawishgrantingphantasm,he’saninnocentman.”).

WhileatIBM,hewrote,producedandstarredinaseriesoffilmscalledArt of the Sale.Originallyintendedforin-houseuse,thissetofsixshortclipswentviral(it’sworthyourtimetolookituponYouTube).ItwasselectedbythecablechannelComedyCentralasa“StaffFavorite”andwascitedinForbes.cominJanuary2007astheexampleofthe“JonStewartizing”ofcorporatecommunications.

TodayheistheseniormanagerofsocialmediaattechnologyfirmCiscoSystems,wherehe’susingcomedytoreachouttowideraudiences.

As we move into an environment where social media is more mainstream, there is going to be much more humor in corporate communications. You can reach out to a technical audience with a very specific message, and that’s part of what we do. Some of our large service providers are interested in the geeky details about a router. But if we want to reach a broader audience, it certainly helps your message if it’s entertaining.

Timpredictstherewillbemorejobslikehisinthefuture,associalmediarevolutionizescompanyinteractionswithclientsandascustomerscometoexpectacertainamountofentertainment.Largecorporationsarerealizingtheneedtostandoutinthesocialmedialandscape.

Hewarnsotherfunnypeoplethatthereisadangerinlettingyourtruecolorsshowatwork.Aprofessoroncetoldhimwithgraveearnestness,“noonewilltakeyouseriouslyintheofficeonceyoustarttellingjokes.”Timagrees.Peopledolabelyouas“thefunnyguy.”Yet,ashisambitionisnotthecorneroffice,hedoesn’tcaremuch.Hisdreamjob?WritingforStephenColbertorJonStewart.Inthemeantime,he’ssatisfiedwithpursuingcomedyoutsideoftheconfinesoftraditionalvenues.

Inhissparetime,henowperformscustomizedsetsatcorporateeventssuchassalesmeetingsandprofessionalconferences.He’sstilltinkeringwithhisscreenplay(thedetailsofwhicharehilarious—

andconfidentialuntilit’spurchased),andbeginningaseriesofpodcastswherehe’llinterviewinfluential

peopleinentertainment.He’salsousinghiscomedicgiftsinchurchandatchurchconferences.

Iaskedhimtotellmethesecretoftohowhe’sovercomehisfearstopursuehisdreams.Hesaidhe’dgetbacktomesomedaywhenhefiguredthatout.

Fear is always with you. I think it’s a constant struggle. As you gain experience over time, you get

a little better at suppressing the fear. I imagine many artists in all fields struggle with this…In comedy, you get immediate feedback. If you tell a joke and nobody laughs, you know right away that you’ve failed. You’ve got to be ready for that. But how you judge failure is important. For me, even when the audience doesn’t laugh, I

know that I am doing what I am called to do. That’s what counts. All I can do is

obediently follow the path that is before me.FormoreonTimWasher,including

contactinformation,seetimwasher.com.

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Whiletheglobalrecessioncanbeblamedonmanyfactorsandindividuals,PeggyCunningham’92thinksthere

isoneplayerinthecatastrophethathasbeenlargelyoverlooked:businessschools.

“Somethingthathasn’tbeeninthediscussion—innewspapers,businessmagazinesorwhatever—istheliabilityofbusinessschoolsinthinkingabouttheproductswehavecreated,”saidCunninghamina2009interviewwithThe Globe and Mail.Businessschoolsmustexaminetheircurriculumandcoreconceptscarefullyastheytrainthenextgenerationofbusinessleaders.

ThatispreciselywhatCunninghamisdoingatDalhousieUniversity(NovaScotia,Canada),whereshewasrecentlyappointeddeanofthefacultyofmanagement(thistitleisequivalenttoDeanStrawser’spositionatMays).Shebelievesagreateremphasisoncorporatesocialresponsibilityisaneeded

shiftinMBAeducation.Therehasbeentoogreatafocusonindividualisminbusinesseducation,

saysCunningham.“Manypeoplesaygreedisgood.Thathaspromotedalotofwellbeing,butIdon’tthinkthosemodelsaresustainableanylonger,”shesays.“Ifwhatittakestomakeonepersonrichistomaketwo-thirdsoftherestoftheworldpoor,Idon’tthinkthat’sasustainablemodel.It’sabigwakeupcall.Whenwelookatissuesofsustainability,wehavetolookatnotonlyourownsustainabilitybutthatofoursociety.”

CunninghamjoinedDalhousieinMarch2009asdirectoroftheSchoolofBusinessAdministrationandassociatedean(research).InAprilofthisyearshewaspromotedtodean,makingherthefirstwomantoholdtheroleintheschool’s35-yearhistory.

RegardedasoneofNorthAmerica’sleadingprofessorsofcorporatesocialresponsibilityandmarketing,sheiswidelypublishedandhasreceivednumerousaccoladesforherteachingprowess.

CunninghamgraduatedwithaBAfromQueen’sUniversity,anMBA(marketing)fromCalgaryandaPhD(marketing)fromMays.PriortoherpositionatDalhousie,shespent19yearsatQueen’s,wheresheservedasdirectoroftheCentreforCorporateSocialResponsibilityandfoundedtheacceleratedMBAprogram.

Herideasabouteducationaren’tlimitedbygeography:shehasworkedintheU.K.,Germany,China,andtheU.S.SherecallsaninteractionwithanAustraliancolleaguewhoworksforalargebank.“Shewasdoingworkonresponsibleleadershipwithagroupofuswhoareseniorpeopleinbusinessschools.Shelookedusintheeyeandsaid:‘Youhavegraduatedagenerationofmonsters.’Itbroughthomethatbusinessschoolshavetotakeaveryhardlookatthemselvestoseethekindofpeoplewearegraduatingandtakeourresponsibilityverymuchtoheartintermsofthemodelsweusetograduatethesepeople.”Nowmorethanever,trainingleadersthatunderstandthevalueofethicsiscentraltothefutureofbusiness.

Rethinking business educationFormer student now dean of Dalhousie university faculty of management

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W hat can we expect the economy to do in the latter half of 2010? Mark G.

Dotzour, chief economist and director of research at the Texas A&M Real Estate Center at Mays Business School has a few ideas. The road ahead is filled with potholes, but Dotzour says there is hope for the future.

Aswebeginthesecondhalfof2010,clearlytheentirecountryisreadyfortheendofthecurrenteconomicdeclineandthebeginningofanewphaseofeconomicexpansion.Therearesignalsthattheeconomyistryingtoturnthecorner.Consumer confidence has increased from a year ago and consumer spending has resumed its relentless upward trajectory.Butthemostimportantpositiveindicatoristhatcorporateprofitshaverebounded!Inafree-market,capitalisticsystemlikeAmerica,profitsarethekeyindicator.Whenprofitsaregrowing,companieshireemployees.Whenprofitsflatten,theystophiring.Whenprofitsfall,theystarttofirepeople,andtheykeeponfiringpeopleuntilprofitsstarttoincreaseagain.Clearly,mostbusinesseshaveright-sizedtheirfirmssufficientlytoregainprofitability.

Sothenwhyaren’ttheyhiringpeople?Theanswerisuncertainty:uncertaintyofcapitalgainsandincometaxrates;uncertaintyaboutthecostofhealthcareandthepossibleincreaseinenergycostsdueto“capandtrade.”Theprospectofnewandincreasedgovernmentregulationmakesithardforbusinesstoseeclearlyintothefuture.

Businesses can buy insurance against risk, but there is only one way to “insure” against uncertainty and that is to hoard cash.Thereisnowwellovera

trilliondollarsincashsittingonbusinessbalancesheets.TheyhavemuchmorecapitalthantheFederalReserve,theFDIC,FannieMae,andFreddieMaccombined.

So,whatwillittaketogetbusinessestodeploytheircapitalandstarthiring?AnewcycleofeconomicexpansionintheU.S.willnothappenuntilthisoccurs.

The answer lies in business owners seeing the opportunity to make significant profits again.Itisunlikely

thattheissuesoftaxes,“capandtrade,”insurancecostsandnewregulationswillberesolvedin2010.Hence,expectasluggisheconomythroughtheremainderoftheyear.AftertheelectionsinNovemberandnewCongressmembersareseatedearlyin2011,businessownersmaygetaclearerpictureofwhatthefuturelookslike.Astheuncertaintyrecedes,theconfidencetoinvest,expandandhirewillincrease.

Manybusinessdecisionshavebeendeferredinthepastthreeyears.Therecouldbeapleasanteconomicsurprisewhenbusinessesseethe“allclear”signal,

becauseofthepent-updemandthathasbeencreatedbyseveralyearsofpostponedpurchasing.

Asecondheadwindforeconomicrecoverycomesfromthegovernmentsectoratthestate,countyandcitylevel,includingschooldistricts.Alloverthecountry,incometaxrevenuesaredown.Soaresalestaxrevenues.Propertytaxrevenuesfromcommercialrealestatehavefallensome,andarelikelytofallfurtherin2011.Inmany

statesresidentialpropertytaxeshavefallenashomepricesdeclined.Thesedeclinesinrevenuesareforcinggovernmententitiestomakedifficultdecisionsregardingspendingandhiring.There is little doubt that there will be reductions in employment at all levels of government.Theprivatebusinesssectorhasright-sizedtheirfirmstoadjusttothecurrentenvironment.Individualhouseholdshaveincreasedtheirsavingsratetopaydowndebtandimprovetheirbalancesheets.Governmenthasbegunthesameprocess,buthasalongwaytogoyet.

Smallbusinessiscrucialatthisstageofthegame.Asthe

governmentlayspeopleoff,itwillbeessentialthatsmallbusinessesresumehiring.Otherwise,wewillstartlosingmorejobsratherthanbeginninganewexpansionarycycle.

Look for signals from Washington.Businessownersarelikeracecardrivers.Theyhaveaprecision-tunedmachinewithlotsofsparetiresandparts.Theyhaveskilledmechanicsanddrivers.TheyarejustwaitingtohearfromWashingtonthattheyellowflagofgovernmentinterventionhasbeenliftedandit’stimetorollbackontothetrackandresumetherace.

Rebound or double dip? Forecast for u.s. economy to 2011

There is now more than a trillion dollars in cash sitting on business balance sheets.

They have much more capital then the Federal Reserve,

the FDIC, Fannie Mae, and Freddie Mac combined.

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JimMcIngvale,betterknowntoHouston-arearesidentsas“MattressMack,”saysthereisonequestionallretailersmust

consideriftheywanttobesuccessful:Ifyourstoredisappeared,wouldyourcustomersnotice?

Asitturnsout,thisismorethanarhetoricalquestionforMack.OnaThursdayinMay2009,surroundedbyhisfamilyand

ahundredloyalemployees,Mackwatchedhisbusiness,GalleryFurniture,goupinflames.AnarsonistwithapersonalvendettasetouttodestroyMack’s29-year-oldbusinessand,byextension,hislife.Inthetwohoursittooktocontainthefire,$20millioninmerchandiseburned.Thethreeshowroomsofthefacilitywerebadlydamagedandthewarehousewasdestroyedcompletely.Macksayshe’llneverforgetthehopelessness,anxietyanddespondencyhefeltwatchingthoseleapingflames.HealsosayshefeltGod’sgracetouchhissoulinthemidstofthecrisisandheknewthat“Thursday’stragedywasFriday’sopportunity.”

Withtearsintheireyesandsmokeintheirlungs,theGalleryFurniturefamilyjoinedhandstoprayandsing“GodblessAmerica”and“TheStarSpangledBanner”intheparkinglot,vowingthattheywouldsurviveandrebuildbiggerandbetter.

Torebound,Mackknewitwasimperativethathiscustomers

Trial by fire

If your store disappeared, would your customers notice?

Jim MacIngvale looked on as his life’s work went up in flames, the work of an arsonist. Heartsick but not defeated, Mattress Mack says he knew that “Thursday’s tragedy was Friday’s opportunity.”

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experiencenodelayinthesame-dayserviceGalleryFurnitureisknownfor.Whiletheashessmolderedthatnight,Mackorderedanexpressshipmentoffurniturefromhisvendors,thoughhehadnoideawherehe’dputitwhenitarrived.Healsoshotacommercialtoairthefollowingday,tellingcustomershewasstillinbusinessandinvitingthemtohislocationintheGalleriaarea.Thebusinessnevermissedabeat:notasingleemployeewasletgo,norwasthereabreakintheservicetocustomers.Thedayafterthefire,GalleryFurnituredelivered$200,000-worthoffurnituretoHoustonians.

OntheFourthofJuly,amere44daysafterthefire,theyreopenedoneshowroomatthemainlocation.WhileallacrossAmericapeoplewerecelebrating,Mackandhissupporterswerecelebratingtheirowntriumph.

“Weraisedthebarntogether,justaspeopleinTexashavedonefor175years,”hesaid.ByLaborDay,bothoftheothershowroomswereopen,anditwasbacktobusinessasusual.

Didhiscustomersnotice?Intheweeksafterthefire,hereceivedmorethan5,000cardsandemailsofencouragementfromcustomersandbusinessassociates.“Thatoutpouringofloveandsupportsustainedusinourdarkesthour,”hesaid.

One great big advantage: desireMcIngvalebeganhiscareersackinggroceries,feelingmiserableabouthisprospects.Thenhegotfiredforhavingabadattitude.Heslouchedaround,feelingsorryforhimself,untilhehadanepiphanywhenheheardamessagefromtelevangelistOralRoberts.Itstickswithhimtothisday:Thebiggestchallengeweallhavefromourcreatoristouseourtalents.Theworlddoesn’toweyouafavor—youowetheworldafavor.

Withthismotivation,McIngvalewentoutthenextdayandfoundajobatafurniturestore,discoveringthathehadatalentforretail.Eighteenmonthslater,hewantedtoopenhisownstore.HismentortoldhimHoustonwasaboomtownandthatwouldbeagoodplacetosetupshop.Withhislifesavingsof$5,000andanewbride,hemovedtoHoustonandopenedastore.Thereweremanynaysayers.“Allthereasonsthattheygaveastowhywewouldfailweregoodandsolid,logicalreasons.ButIhadonegreatbigadvantagecalleddesire.Ihavelearnedinmylifethatyoucandoanythingifyouwantitbadenough.”

Afewyearsdowntheroad,hisbusinesswasfloundering.Hemadeanotherariskygamble:hebethislast$10,000ontelevisionadvertising.Itpaidoff.Televisiontransformedhisbusinessandmadehimintoawell-knownHoustonpersonality.Thatfirstcommercialhadanimmediateimpactonsales.Today,themediumisstillhismostpowerfulresource:Hepaidforalocalspotduringthe2010SuperBowl;The$85,000pricetagwasrecoupedinthreedays.

It’sapointofprideforhimthateachyearofthepastten,hisTVadshavebeenvotedtheworstinHouston.Still,theyareeffective.Throughhisadsandfrequentvisitstolocalschoolswherehedeliversencourageskidstosay“no”todrugsand“yes”toschool,

Mackmakesaconnectionwithyoungpeoplewhomhehopeswillbecustomersforlife.Heisintheenviablepositionasaretailerofbeingwell-lovedandtrustedbychildrenalloverHouston.Visitinghisstoreisatreat,onparwithvisitingthezoo,asGalleryFurnitureisknownforitsdailybirthdaycake,andlivemonkeysandparrotsinthestore.

Customer delight = retail success DuringMack’svisittoaretailmerchandisingclassatMays,hediscussedoneofthedifficultieshe’sfacedsincethefire.Intheirambitiontorebuild“biggerandbetter,”theychangedthelayoutofthestoresignificantly,groupingitemsbystyleinsteadoffunction.Ratherthanplacingallofthebedsinonesection,theywerespreadthroughoutinpre-setroomsthatfeaturethenightstandthatgoeswiththebed,thatgoeswiththelamp,etc.Whilehiscustomersravedabouthowmuchtheylovethenewlook,salesdecreaseddramatically.

“You’vegottofocusonthecustomer.That’sallthatmatters.Weareinthesingularbusinessofdelightingcustomers,”hetoldstudents,notingthatthenewstorelayoutoverwhelmedhisshoppers.Theyquicklysetaboutthecostlyprocessofreorganizingallofthemerchandise.

Trustisatanall-timelowintheU.S.today,hesays.Thatmeanscustomersarelookingforreasonstocomplain.

“Gettingthedetailsrightinalow-trusteconomyiscritical.Thequalityofyourmerchandiseandservicemustengendertrustinyourcustomers.”

Hisfinalwordwasto“buyAmericanwheneverpossible,becausethejobyousavemightbeyourown.”Wecan’tbeanationthatonlyconsumes.Wemustproduce,ifwearetosurvive,hesays.AndMattressMack?Heknowshowtosurvive.

Gallery Furniture is a sponsor of the Mays Center for Retailing Studies. McIngvale recently committed to a gift to the center to endow an interactive digital library.

“The world doesn’t owe

you a favor— you owe the

world a favor.”

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A teamofemployees,eachwiththeirownstrengths,weaknesses,andquirks,doesn’tfittogetherlikeajigsaw

puzzle,saysBobLoeffler’77.It’sthejobofaleadertoholdtheteamtogether,likeglue,whenthepiecesdon’tpreciselyfit.

After40yearsinbusiness,thelastsevenspentinthepresident’schairofTexasgrocerychainH-E-B,Loefflerknowsafewthingsaboutthecharacteristicsanddutiesofleaders.Whathe’slearned,he’sgainedbyexperience.WhenhewasearninghisMBAatA&Minthe70s,hesayshelearnedmuchaboutfinance,accounting,humanresources,andmarketing,butlittleaboutthevitalskillofleadership.Hedidtakecoursesonmanagement,butheisadamantthatmanagementshouldn’tbeconfusedwithleadership.There’sahugedifferencebetweenthetwo—andbotharenecessaryforabusinesstosucceed.

“TherearemanyfailedcompanieswhohavehadoutstandingmanagementwithCEOswhocouldn’tleadtheirwayoutofawetpaperbag,”hesaid.“Inthelongrun,successfulorganizationshavetohavebetterleaders.”

‘Captain Crunch’Loeffler’sleadershiptrainingbeganwhenhewasyoung.HeservedintheNavyforsixyears,andatthetenderageof22,had40menunderhiscommand.Herecalledanincidentwhenhewasservingonadestroyer:Thecommandingofficerearnedthemoniker“CaptainCrunch”whenheaccidentallyrantheshipintoadockwhiletryingtomaneuverthroughhighwindandwaves.

“Tohiscredit,thecaptainheldameetinginthewardroom,floppedhisbigandcostlymistakeonthewardroomtable,andwediscussedtheissueindetailuntilweallunderstoodwhatactionswouldbenecessarytoavoidthisaccidentinthefuture—andweall

becamebettersailorsasaresult…That’sgoodleadership.”“Amistakeistoopreciousathingtowaste,”hesays.Leaders

mustcreateaculturewherepeoplearecomfortableadmittingmistakesratherthanhidingtheminfearofpunishment.Mistakescanbeveryvaluabletotheindividualandtheorganizationiftheyaremadepublic,dissected,understood,andifchangesaremadetopreventthatmistakefromhappeningagain.

Vision: HATE the status quoTheleader’sjobisnotalwaystocreateavision,butrathertosellavisiontoeveryoneinvolvedwiththecompany—theboard,theexecutives,andeverymemberoftheteamondowntheline.“Thechallengeistopaintthevisioninsuchanattractivewaythateveryonewhohearsitconcludesthisvisionisoneworthpursuing,”hesays.Partofthatprocessismakingsureeveryoneinthecompanyisasunhappyaspossiblewiththestatusquo.Makesureyourpeoplehatethewaythingsaretodaysothattheywillbuyintothevisionofwheretheycanbetomorrow.

Yourteamalwaysneedsa“B-HAG,”saidLoefflerwithagrin.“DoyouknowwhataB-HAGis?That’sabighairy-assgoal.”Peoplehaveanaturalreluctancetochange;aleadermustovercomethis,andexcitetheteamtowanttochange.

Businessisagame,hesays.Theleaderisresponsibleforcreatinganexciting,challenginggamefortheteamtoplaythroughsettinggoals.Theleaderisplayingthegame,too,bydoingeverythingpossibletohelptheteamwin.

Loefflerasks:Wouldyouratherspendyourcareerclockinginandclockingout,thenstartingtoreallyliveafterquittingtime?Orwouldyouratherspendyourdayplayingagamethatiscomplicated,challenging,meaningful,andrewarding,working

Hate the status quoLoeffler ‘77 shares insights on leadership

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alongsideteammemberswhojoinyouinthepursuitofbecomingchampions?

“Theleaderhastheresponsibilitytotakewhatcouldotherwisebeahumdrumworklifeandturnitintoanobleandchallenginggametoplay.Thatwillmakeallthedifferencetoyourpeopleandtotheresultsyourorganizationachieves.”

Beateamplayer,notagloryhog,headvises.Youwinwhentheteamwins.“Ifyouaremorecommittedtotheteamthantoyourself,youwillreceivemuchpersonalcredit.Theoppositeistrue,aswell.”

Be yourself, and be sure of yourselfLeadershipskillscanbelearnedfromothers,butleadershipstyleisn’tsomethingyoushouldstrivetoduplicate.There’snobetterwaytoleadthanthewayyourexperiencesandpersonalitydictate,saysLoeffler.Giveuptryingtolookgood;havefun;bereal,vulnerable,transparent—beyourself.“Bethesamepersonatworkthatyouareathome.”

“Tryingtolookgoodwillactuallymakeyoulookbad,”hesays.Atthesametime,aleader“hastoberesponsibleandgrownup

allthetime.”Thebestleadersdon’tlosetheirtempersorhaveabaddaythatanyoneotherthantheirspousecandetect.

Leadersmusthaveconfidence,notonlyintheirabilitytomakedecisions,butalsointhewaythattheydealwithsubordinates.Thisisakeyareawheremanyleadersfail:“Successfulleadershavepeopleworkingforthemwhohaveasmuchormorehorsepowerthentheythemselvesdo.”Leaderscan’tfeelthreatenedbythesepeople,butrathermustmaximizetheirperformance.

“Powerfulpeoplewon’tworkforsomeonewhowon’tallowthemtoactpowerfully.”Inotherwords,don’thobbleyourtoppeoplethroughmicromanaging,hesays.

“Onesecrettosuccessinleadershipistohirepowerfulpeopleandtoallowthemtobepowerful.Coachthem,trainthem,pointtheway,thengettheheckoutoftheirway.”

Leaderswhomicromanagedosobecausetheyliveinfearoffailure.Thisimpactsthewholeteamastheleaderfeelstheneedtoexamineeverydecisionandeveryaction.“Thiswillensurethatsubordinateseventuallylearntojustnotmakeanydecisionsortakeanyactionsunlessthebosshassaidto.Noonelearns,nooneactspowerfully,noonetakesaccountability,andtheonlyonewhoownsthesuccessoftheorganizationistheboss.”

Fear FactorSuccessfulleadersaren’tafraidtogiveandreceivefeedback.Loefflersaysthathewasaconflictavoiderforthefirst40yearsofhislife—atraitthatherealizedwasholdinghimbackprofessionally,ashewasafraidtovoicedispleasureorgivetruthfulfeedbacktosubordinates.

“Itbasicallyparalyzedmeasaleaderincertaininstances,”hesaid.“Inowrealizethereisnogreatergiftyoucangivetoasubordinatethantimely,directfeedback—especiallynegativefeedback.”Thisistheonlywayyoucandevelopyourteamandhelpindividualsperformwellandeventuallybepromotedtoleadershippositionsthemselves.

Thealternativeistosaynothingandbestuckwithlessthanstellaremployees,whomyoumaythenhavetofirefor

nonperformance.“Inthecaseofemployeeswhohavetalentanddesire,theywillconsideryourfeedbackacompliment,thatyoucareenoughtohelpthemdevelopintoamoreeffectiveperson—andtheywillactuponyourfeedback.”

Feedbackfromthoseemployeesisalsovaluable.Don’tbeafraidtoaskyoursubordinateswhatyoucouldbedoingbetter,hesays.“Continuallyassessyourselfandaskotherstoassessyou.”

Loeffler visited Mays in April to receive the M.B. Zale Visionary Merchant Award, presented each year to a retailer who is celebrated for their innovation in the field, and to guest lecture. This fall he will be recognized with an Outstanding Alumnus Award from Mays.

“One secret to success in leadership is to hire powerful

people and to allow them to be powerful. Coach them, train them, point the way, then get the heck

out of their way.”

“A mistake is too precious a thing to waste,” says Loeffler. Whether it’s crashing a ship or failing a campaign goal, talking through the error with the team can be a very valuable exercise.

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Features

Best practices for both sides of the desk

Ace theinterview

Beforeyouschedulethatemploymentinterview,considerthis:Researchsuggeststhattherearemanysubtlecuesinaninterviewthatindicatewhetherthejobseekerwillbesuccessful—bothinlandingtheposition,andindoing

thework.Understandingwhatthosecuesareisimportant,nomatterwhichsideofthedeskyou’resittingon.

MurrayBarrick,managementdepartmentheadandPaulM.andRosalieRobertsonChairinBusiness,hasbeenstudyingelementsoftheinterviewprocessforyearsandhasadvicetooffertojobseekersandhiringmanagers.

The Job Seeker: Confidence is KeyYourdreamjobisavailable,butfirstyou’vegottoproveyou’rethebestcandidateforthejob.Thisnerve-janglingprocessisreminiscentofafirstdate—bothpartiesrevealcertaininformationwhileevaluatingtheother,examiningthepotentialofanalliance—andasmuchasyou’dliketothinkit’sallaboutpersonalityandexperience,youknowthatappearancematters.

You’vepolishedyourrésuméandyourshoes,practicedyouranswersandyourwinningsmile.You’rereadyfor…

The interviewTherearethreeimportantelementsofaninterviewthatdetermineyoursuccess.Controllingfordifferentfactors,Barrickhasexamined

theimpactofeachoftheseareasandhisresearchsuggeststhatthosewhoperformthehighestinthemreceiveemploymentoffers.

The informaTionYouhavetoactuallyknowwhatyou’retalkingabout.Thisisano-brainer.Youmusthavesatisfactoryanswerstothejob-relatedquestionsyou’llbeasked.

Ifyou’relackinginthespecificskillsandexperiencenecessaryforthejob,however,youcanmakeupforitbyemphasizingconscientiousnessandemotionalstability.Conscientiousnessincludesbeingdependable,hardworking,andachievement-oriented.Emotionalstabilityinvolveshowableyouaretomanagestress,andisalsorelatedtoconfidence.Thosethatarelowinself-confidencetendtoalsobelessemotionallystable—andthisisapredictorofpoorperformanceandturnover.

image managemenTYou’vegottolookgood,andthatgoesbeyondthechichaircutandpowersuit.Animportantelementofyourprofessionalimageisconfidence,self-promotion,or“whatwetypicallycallbragging,”saysBarrick.It’safineline,though.Youdon’twanttocomeoffasconceited,butyoudowanttotalkyourselfup.Ifyoudon’t,nooneelseintheinterviewwill.

“It’ssociallyexpectedinthissetting.Ifyoudon’tself-promote,peoplewillassumethatyouaresociallyincompetent.”

Youmayhaveheardthesaying“Nobodylikesasuckup.”Well,that’snotentirelytrue.Barricksuggeststhatanappropriateamount

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ofingratiationisalsoacuetohiringmanagersthatyouaresociallycompetent—thatyouunderstandtheexpectationsofthecontext,andcan“playthegame”ofprofessionalinteractionwell.

Body language Whatyou’resayingwithoutwordsisasimportantasyouranswerstoallthoseprobingquestions.Throughbodylanguage,youmustconveytwothings:confidenceandenthusiasm.Leaningforwardslightlyisasubtlecuethatyouareinterestedinthepositionandmaymakeamoreenthusiasticemployee.Goodeyecontactdoesthesame.Andthegoldstandard…

The handshake Barrickandcolleaguesratedfiveelementsofthehandshakeofcandidatesinmockinterviews.Theyfoundthatifacandidate’shandshakeratedhigher

ongrip,vigor,duration,temperature,andeyecontactduringthetransaction,heorshewasalsomorelikelytoberatedhighlyinotherareasoftheinterview.

Firstimpressionsarevital,asyourinformation,image,andbodylanguageisquicklyassessedandthosejudgmentscolortherestoftheinterview.Howquickly?Barricksaysthesuccessoftheinterviewisoftendecidedinthefirstthreetofourminutes.Ifthatseemsunfair,notethatthemanager’sfirstimpressionsofthecandidatemayreasonablybelinkedtoperformance,asitmayindicatehowthatpersonwillinteractwithcolleaguesandcustomers.Ifthehiringmanagerfindsthecandidatelikeable,othersmay,too.

Thebottomline?Theinterviewisaconversationbetweentwostrangers.Theinterviewerisrelyingonyoutoprovidetheinformationtheyneedtomakeadecision

“You can’t change somebody’s personality. That’s what therapy is about. You can’t increase intelligence without a lot of effort. That’s what a

four-year degree is for.”

aboutyourhire.Soifyouarethebestcandidate,makesureyoudemonstratethattotheinterviewerclearlyandconfidently.

The Hiring Manager: Hire smartsWanttohirethebestcandidate?Thendon’tworrysomuchabouttheirskillsandexperience,payattentiontotheirgeneralintelligenceandpersonality(emotionalstability,openness,dependability).Thesetraitsarevitalinmostanyposition,andtheytendtobefixed—thereislittleyoucandototrainanemployeetobesmarteroreasiertogetalongwith.

Whenitcomesrightdowntoit,aninterviewisn’tthebestmethodofgaugingthoseessentialelements,saysBarrick,whorecommendsaformalsurveytotestforthese,suchasthePersonalCharacteristicsInventory®.Co-createdbyBarrick,this

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Psychologists have broken personality into five key factors, which, made up of many individual components, generally define a person: openness, conscientiousness, extroversion, agreeableness, and emotional stability.

Some of these traits have an impact in all job settings (conscientiousness and emotional stability), while others are more specific to certain types of jobs. Understanding how you or a job candidate exhibits these factors can be predictive of job satisfaction and success.

1 Openness tO experience

Inventive and curious, those that exhibit this

trait have an appreciation for art, emotion, adventure, unusual ideas, and variety of experience. They tend to be intelligent.

Does this sound like you? • I have a rich vocabulary.• I have a vivid imagination.• I have excellent ideas.

Then you may score highly in openness.

Workplace takeaway: Those with this trait are, as

expected, more likely to gravitate to artistic (such as graphic design) rather than conventional (such as banking) jobs.

2 ConscientiousnessEfficient and organized, those that exhibit this

trait show self-discipline, act dutifully, and aim for achievement. They prefer planned rather than spontaneous behavior.

Does this sound like you?• I am always prepared.• I am exacting in my work.• I follow a schedule.

Then you may score highly in conscientiousness.

Workplace takeaway: This trait is positively correlated with performance across all job categories. Conscientious employees experience more career satisfaction and success.

3 Extraversion Outgoing and energetic, those that exhibit this trait

are characterized by energy, positive emotions, dominance, talkativeness, self-confidence, and the

tendency to prefer group settings rather than solo work.

Does this sound like you?• I am the life of the party.• I don’t mind being the

center of attention.• I feel comfortable around

people.

Then you may score highly in extraversion.

Workplace takeaway: Extraverts are likely to be good sales representatives and tend to be better leaders. On the flip side, they often are narcissistic and prone to risk-seeking, as they have lower inhibitions.

4 Agreeableness Friendly and compassionate, those that exhibit this

trait tend to trust and work well with others. They are likeable.

Does this sound like you?• I am interested in people.• I feel others’ feelings.• I have a soft heart.

Then you may score highly in agreeableness.

Workplace takeaway: While it’s good to be likeable,

those exhibit this trait aren’t likely to be as extrinsically successful (promotion and pay), possibly because the trait is negatively correlated with management potential.

5 Emotional stability Not easily upset, those that exhibit stability are less

emotionally reactive. They tend to be relaxed and free from persistent negative feelings. This does not mean they necessarily experience a lot of positive feelings, however.

Does this sound like you?• I am not easily disturbed.• I am relaxed most of the time.

• I seldom feel blue.

Then you may score highly in stability.

Workplace takeaway: Those that score lower in stability are less likely to experience extrinsic career success (promotion and pay). Conversely, emotional stability is related to positive job performance.

The big five personality factors—How do you score?

In your next interview, focus on the essentials and measure those explicitly: intelligence,

personality, and job skills.

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Information for this article came from research in a variety of Barrick’s papers. You can find links to many of these articles and other research from Barrick on his personal website: mays.bz/barrickpubs.

In recognition of his 22 years of leadership through management scholarship, Barrick has recently been singled out for praise by

the Academy of Management as well as Texas A&M University.

Barrick was recently named a Fellow of the Academy of Management—a distinction earned by less than 1.5 percent of the nearly 20,000 members of the academy worldwide. The prestigious fellows group was established to honor members of the Academy of Management who have made significant contributions to the science and practice of management. Fellows serve as ambassadors of the academy.

Mays has the unique position of employing five other academy Fellows: Ricky Griffin, Luis Gomez-Mejia, Michael Hitt, Don Hellriegel, and Duane Ireland. This places Mays behind only four universities (Harvard University, University of Michigan, Stanford University, and University of Washington) in terms of the number of Fellows.

Earlier this year, Barrick was also recognized by Texas A&M University System when he was designated an A&M Distinguished Professor. This title denotes a faculty member who is recognized as being in the top five percent of his or her field by peers throughout the world.

More about Murray Barrick

surveylinksthebigfivepersonalitytraitstojobperformanceinmanycategories.Personalitytraitscanbeidentifiedwithahighdegreeofaccuracy.Theydopredictjobperformance,soitmakessensetotestforthem.

Testingforintelligence,however,canbecomplicated,ascertainpopulationstendtoscorehigheronIQtests.Employersmayfearbeingbrandedasdiscriminatoryiftheyareperceivedtobeusingtheseteststoexcludeminorities.Thereisamoderaterelationshipwithinterviewsuccessandintelligence,saysBarrick,whichsuggeststhatinterviewersarealreadyprettygoodatpickingoutthecandidateswithsmarts(orthatsmarterfolksperformbetterininterviews).Evenifyou’renotformallyassessingit,beingawareoftheimportanceofintelligenceinacandidatewillhelpyoudetectit.

Barrickreportsthatasmanyas20percentofAmericancompanies(suchasMcDonald’s)areusingpersonalitysurveystoscreenapplicants.Thesurveyisusuallysandwichedbetweenaprescreeninginterviewandafinalinterview.Oftenitsfunctionisidentifyingwhichindividualswillbemostconscientiousandemotionallystable—twokeyindicatorsofoverallperformance.

Whiletherearebetterselectiontoolsavailabletoassessmanyofthethingswemeasureinaninterview,theprocessisnotgoingawayintheAmericanmarketplace.“It’saculturalexpectationthatbeforeIhireyouI’mgoingtomeetyouandtalktoyou,lookyouintheeyesandseewhatIthinkofyouasaperson,drawsomeconclusionsaboutyourcharacterasawhole,”saysBarrick.

Oftenmanagerstrytodotoomuchina30-minuteinterview.Inyournextinterview,focusontheessentialsandmeasurethoseexplicitly:intelligence,personality,andjobskills.Managerstypicallyratetheseareassubconsciously,butmakingtheratingexplicitwillclarifytheprocessandmaketheinterviewmorepredictiveofsuccess.

Interviewsaremostusefulfordeterminingonething:fit—thatintangible,hard-to-defineelementthatsuggestsanemployeewillbesuccessfulintheframeworkofthecompanyculture.Mostpeoplecan’ttellyouexactlywhatfitis,saysBarrick,butwhenyouaskpractitioners,theyallagreethatitisimportant.

Howtomeasurewhetherornotapersonisrightforyourcompany?There’snoquestionnaireforthatone.You’llhavetogowithyourgut.

Features

For executive mBa students, homework is real work

ProjectX

How do you learn to lead a department, regional division, fleet, or multinational organization? theory-based education will only get you so far. It’s experience that truly hones your skills.

Features

Shawn CorkranDirector, Transmission and Distribution Operations, Entergy Texas, Inc.; Beaumont, Texas

Hurricane winds blow, ripping offroofsandsiding,shatteringwindows,relocatingtreesandtrashcans,anddowningpowerlines.Whenthestormisover,thevitalworkofrestorationbegins.Keytotherecoveryisturningthepowerbackon—ajobthatcustomersexpecttohavecompletedveryquickly.Ajobthatrequiresahugeinvestmentofmanpower.

Forabusinessutilitycompanywithapproximately500-1,000employees,therestorationprocessafteracatastrophecantemporarilyswelltheirranksto10,000-15,000.Acquiringtheadditionalworkersfromcontractorcompaniesandotherutilitycompanies,thenprovidingforthemlogistically(equipment,housing,food)inastorm-damagedareaisahugeresourcemanagementandsupplychainchallenge.

AsalongtimeGulfCoastresidentandEntergyemployee,ShawnCorkranknowshowvitaltimelyresponsetonaturaldisastersis.ThefocusofhisEMBACapstoneProjectwasimprovingEntergy’sabilitytobringinthousandsofnewemployeesandputthemtoworkasquicklyaspossible.Applyingwhathelearnedinoperationsmanagement,ShawndevelopedamodeltooptimizeEntergy’sdecisionsregardingcrewdeployment,housing,andmeals.Aftermanyhoursspentbuildingandvalidatingthemodel,Shawn’sworkledtohispromotiontodirectorofoperations.

WhenhepresentedhisprojecttohisstormteamatEntergy,hisideaswereenthusiasticallyembraced.Shawnexpectsthathisproposal,whichincludesthecreationofanewresourcemanagementmodel,willbeappliedinthenearfuture.

“Mystormteamlovesthis,”hesaysofthenewmodel.“Itallowsustotakepeoplewhoareunderalotofstressandalotofduress,andmakegooddecisionsonbehalfofeverybody.”

Fromcreatingcost-savingsystemstodevelopingnewgrowthstrategies,studentsintheTexasA&MExecutive

MBAProgramatMaysmustusetheirbusinessknowledgeandleadershipskillstotackleanimportantchallengefacingtheirorganization.Thiseffort,theirCapstoneProject,createssolutionsforarealproblem,givingimmediateapplicationtotheirclassroomlearning—andcreatingvaluefortheindividualstudents,theircompanies,andtheircustomers.

Infact,The Wall Street JournalrecentlyrankedtheA&MExecutiveMBAProgramfirstinthenationforpreciselythissortofexperience:whenexaminingfactorssuchasraisesreceivedaftergraduation,company-sponsorshipfigures,tuition,andout-of-pocketcosts,theprogramwasrankednumberoneforindividualreturnoninvestment.ThisprogramisapointofdifferentiationforMays,asmostexecutiveMBAprogramsdon’tincorporateparticipants’professionalworkintoanindividualizedcurriculum.

OnthefollowingpagesaresomeofthemostinterestingandimpactfulCapstoneProjectstocomeoutoftheEMBAClassX,whichgraduatedinMay2010.Theirworkwillsavemillionsofdollarsandcreatemoreefficientorganizationsthatwillgrowtheeconomy.Youdon’thavetobeconsideringanexecutiveMBAtolearnsomethingfromtheirexperiences,too.

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Sara BucaramBrand Manager for Services Marketing, Dell; Dallas, Texas

“Many hands make light work,”saystheproverb—buthowmanyhandsareneededdependsonthejob.ForherCapstoneProject,SaraBucaramevaluatedherteamofinformationtechnologyprofessionalsatPerotSystems,delvingintothedailydetailsoftheirworktocreateascalablemodelsothatascustomervolumegrew,theappropriatenumberofstaffwouldbeadded.

Herambitionwasnotmicromanagingheremployees,butratherunderstandingthedemandsofthepositionsothateachteamwithinPerotwasright-sizedfortheworkloadofaparticularclient.Sarameasuredandanalyzedthetimespentoneachinformationtechnologyrequest,thenumberofrequestseachemployeehandledpermonth,andthecustomerfeedback.Shesaysitwasenlighteningtoturnovereveryrockandanalyzespecificcomponentsoftheemployees’days.

Whenallofthedatawascollected,Saradeterminedthateachteammembershouldbeabletorespondtoabout200requestspermonth.Usingthisandothervariables,shedevelopedamodelthatcouldforecaststaffingadjustmentsbasedonaclient’sgrowthrate.

AfterherCapstoneProject,Sarasaysthereisgreatvalueformanagersinanykindofbusinesstocloselyexaminetheoutputdeliveredbyateamofemployees.Onlyafterfullyunderstandingtheobjectivesandthenatureofthejobcanamanagerdetermineifmodificationstoteamsizeorworkloadwouldleadtogreaterproductivity.

BeforeSara’smodelscouldbeappliedtootherteamswithinthecompany,PerotwasacquiredbyDell.Asthecompaniesmerge,Sarahasmovedfromservicetomarketing,buttheexperienceshegainedfromherprojectandfromtheEMBAdegreearenotwasted:Theyhaveopeneddoorsforpromotionforherinthereorganizationphase.Whenthedustsettles,SaraplanstoimplementcertainelementsofhermodelstoteamswithinDell.

Michael HopkinsProduction Control Group Leader, IAH/HOU Heavy Aircraft Maintenance, Continental Airlines; Houston, Texas

Mike Hopkins caneasily quantifythevalueofhisCapstoneProject:millionsofdollarsincorporatesavings.

Fromthetrucksthattowtheluggagefromthegatetotheplane,tothetugsthatpushaircraftintopositionontheground,ittakesafleetofthousandsofsupportvehiclestoensurethatyourflightleavessafelyandontime.Mike’sCapstoneProjectwastoimproveefficiencyinthestrategicorganizationofContinental’sgroundservicesequipmentdivision.

AproblemofthismagnitudewasmorethanMikecouldhandlealone,soheenlistedthehelpoffourMaysFull-timeMBAstudents,JustinZsiros,DerekEgbert,ImraanMulla,andJamesKress.Togethertheteamcollectedandinterpretedmorethan60,000linesofdataonvehicleperformanceandmaintenance.Aftereightmonthsofhardworkthatrequiredthecooperationofmanyunitswithintheorganization,MikewasreadytopresenthisrecommendationstoContinental’stopexecutives.

TheresultswerereceivedwithexcitementandwillbeusedtodrivechangeandreducecostsateveryhubwithinContinental’ssystem.Mike’stimingcouldn’tbebetter.ContinentaliscurrentlypreparingforamergerwithUnitedAirlines,andbothcompanieswillplaceahighpriorityonstreamliningoperationsastheyintegrate.

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Bruce PoolSouth Business Unit VP for North America, Aggreko, LLC; Houston, Texas

Not all growth is good.Ifexpansionisn’tstrategic,thenitmaynotbesustainable.SosaysBrucePool,whoseCapstoneProjectexaminedthegrowthpatternsoftherapidlyexpandingglobalfirm,Aggreko,LLC,arentalpower,temperaturecontrol,andcompressedairsystemscompany.

Asdemandforservicesoutpacedstrategicplanning,Aggrekohadfollowedcustomers’growthintonewmarkets,committing$8-$12millioninfacility,rentalfleetandpeoplewitheachnewsite.Inmanycasestheinvestmentsweresuccessful.Butifthecustomertheywerefollowinghadadownturn,ifthemarketwastoonarroworalreadysaturated,oriftheycouldoffernoadvantageoverareacompetitors,thentheyexperiencedonlymarginalresultsatbest.

TohelpAggrekounderstandthedynamicsofrapidexpansion,Brucegatheredandanalyzedeconomicandmarketdatafor50existingsitesthathadperformedbestforAggrekoinrecentyears,notintermsoftotalrevenue,butforyear-over-yearincreases.Usingthesedata,hethendevelopedamodeltoevaluatesixsitesunderactiveconsiderationforexpansion.

ThedatahecollectedchallengedassumptionsaboutthewayAggrekodoesbusiness,suchasthelong-heldbeliefthatgrowinginareaswithalargeenergytradewasthebeststrategy.Itturnedout,however,thebestmarketsarefarmorediversified.

BasedonBruce’sproject,Aggrekohasputexpansionintooneofthemarketsitwasconsideringonhold.Duringthenextyear,hehopestorefinethemodeltomoreeffectivelyincorporatepricinganddemanddatabysector.Asthecompanygrowsglobally,hismodelswillbeattheforefrontofexpansiondecisions.

The Future of Energy: Unraveling the Economic Impacts of Energy PolicyMays Business School and the Mosbacher Institute for Trade, Economics and Public Policy at the Bush School of Government and Public Service invite you to join us for a panel discussion exploring energy policy and its potential impacts on businesses and the economy.

Our distinguished panel of industry leaders, policy experts, and Texas A&M faculty members will discuss critical challenges of the energy industry, including the regulation of offshore drilling, the possible implementation of a carbon tax, the environmental issues surrounding hydraulic fracturing, and the economics of climate change.

We hope you will join us for the third in a series of annual events featuring distinguished panels of experts addressing the most pressing issues of business today.

November 1, 20105:30 p.m. Registration and refreshments6:30 – 8 p.m. Panel discussionLocation: Federal Reserve Bank of Dallas-Houston Branch

This event is free and open to Mays former students, but seating is limited. To learn more and register to attend, visit mays.tamu.edu/energy.

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Theyearwas1960.Ayoungengineerfreshoutofcollegewasgrantedapatent

forhisinvention;aninventionheknewwouldradicallyshiftanindustry.Thecompetitor’sproductweighed400poundsandcost$800.His?Amere10poundssellingfor$105.

Hehadagreat,patentedideabutnomoneyandfewconnections.Whatdidhehave?Desire.

“Istartedwithnothing…Ididn’thaveanymoney,soIrodeaGreyhoundbusfortwoyearsfromcitytocityintroducingmyproduct,anelectronicvalveactuator,tochiefengineersandgettingordersfromthem.Ibuiltthebusinessonesaleatatime.”

Fiftyyearslater,FrankRaymond’shardworkhaspaidoff.Thoughnowco-founderandchairmanofamultinationalcorporation,hehasnotforgottenthoselongbustripsdoggedlypursuingsales.Hewantstousethelessonshe’slearnedtobenefittheentrepreneursoftomorrow.ThatwasthemotivationforRaymondandhiswife,Jean,tocommit$410,000forscholarshipsthroughtheMaysBusinessSchoolCenterforNewVenturesandEntrepreneurshipoverthenext20years.Alongwiththefinancialgifts,Raymondwantstomentorscholarshiprecipients.

Takingaproductfromdesigntoproduction,launchingandsellingandmergingcompanies,openingplantsallaroundtheworld—Raymondhasseenitallwhenitcomestoentrepreneurship.Hehopesthatthroughthesescholarships,hecanhelpayoungpersonlearnintheclassroomwhathehadtolearnthroughthehardlessonsofexperience.

AftertheGreyhoundsalestripstobuildhisfirstventure,R&AMachineCompany,Raymondmergedthebusinesstwice,eventuallybecomingRaymondControlSystems.In1976hesoldoutofthatbusinessandstartedhisnextproject,foundingthecontrolsdivisionofKeystone

International,Inc.,theoilfieldservicescompanyownedbyA&MpatronGalenT.Brown.BothbusinessesgrewexponentiallyunderRaymond’sleadership.Eventually,heledKeystoneaspresidentoftheirNorthandSouthAmericanoffices.

ThetransitionasKeystonemovedfromaprivatetoapublicfirmwasalearningexperience,saysRaymond,asgreaterexternalfundingmeanthewasabletocontrollessofhiscompany,leadingtobusinessdecisionshedidn’tagreewith.AfterKeystone’spublicoffering,RaymondandCraigBrown’75(sonofGalen)leftthecompanytoorganizeBrayInternationalin1986.RaymondisproudtoboastthatBrayisnotforsaleandthatithasneverbeendependantonoutsidefunding.Hehasnointentionevertakingthecompanypublic,asthatwouldputothersinthedecision-makingseatthatheenjoyssharingwithBrown,nowthepresidentandCEO.

Someentrepreneurscan’tsitstilllongenoughtoenjoyamealallthewaythroughdessert.Raymonddefiesthisstereotype.HefoundedBrayin1986andsaystheworktherecontinuestobefulfilling,especiallyasthecompanygrows,addingnewproductsandservices,acquiringothercompanies.“It’sbeenaphenomenalgrowthcompany…It’sbeensuchanexcitingrunandit’sstillexciting.”

Thelifeofanentrepreneurisn’tforeveryone,Raymondacknowledges.“Therisksofentrepreneurshipareextremelyhighandtheworkethicmustalsobeextremelyhigh.Youhavetohavetremendousdrivetodoit.”Entrepreneurswillneverbecomfortableforlonghesays,astherewillbehappyandprosperousperiodsofthebusiness,andothertimeswhenyou’llloseyourshirt—butthemajorityofyourcareerwillbespentadjustingtoorcreatingchange.Inthatenvironment,ittakesa

An entrepreneur’s fire in the belly

Frank Raymond started out with one great invention, a Greyhound bus ticket, and a whole lot of moxie.

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certainbreedofperson—andacertainkindoffamily—tosurviveandthrive.

Raymondcountshimselfluckytohavethefamilythathedoes,astheirsupportwasintegraltohissuccess.“Ineverhadtoworryaboutthembeingaproblem,asfamiliescanbeiftheygetscared.”Hesayshiswifenevercomplainedwhen,morethanonce,heleveragedtheirassetstoinvestinadvancingthebusiness.

Infact,Jeanwasalsoanentrepreneur,operatingherowninteriordesignbusinessformanyyears,sosheunderstoodbetterthanmostthechallengesherhusbandfaced.

“Thedrivingforce[foranentrepreneur]

“Entrepreneurs will never be comfortable for long. There will be happy and prosperous periods and

other times when you’ll lose your shirt. The majority of your career will be

spent adjusting to or creating change.”

isstartingfromnothingandtryingtobesuccessfulforyourselfandforyourfamily,”saysRaymond.

“Ithinkmostpeopledon’thavethefireinthebellytotakethoserisks.ButIdo.”Intheend,therisksarewellworthit.“Thesatisfactionisunbelievable.Somepeoplecallittherush…solvingproblems,movingahead,thechallengesofconstantlydevelopingnewproductsandseeingthembecomesuccessfulinthemarketplace.”

“Imustsay,evenafterdoingthisfor50years,I’mstillemotionallyexcitedaboutwhatwedoandwherewe’regoingandhowwe’regettingthere.”

Above: Jean and Frank Raymond will do more than support Kristina Pontious ‘12, with scholarship money. They want to be involved in her life, offering mentorship and guidance as she makes decisions about her future entrepreneurial endeavors. Below: The smallest valves Raymond’s company, Bray, produces are just ¼ inch in diameter. This is the largest: 96 inches, weighing 9 metric tons, manufactured at their China plant.

TheTexasA&MFoundationBoardofTrusteesrecentlyhonoredSanAntoniobusinessmanLowryMays’57,founderofClearChannelCommunications.

ForhisphilanthropytoA&M,thefoundationtrusteesselectedMaystoreceiveitsSterlingC.EvansMedal.Inadditiontohiscorporatework,Maysiswell-knownforhisgenerositytoMaysBusinessSchoolandtheGeorgeBushPresidentialLibrary.

TheEvansMedalrecognizesindividualswhohavemadeoutstandingcontributionstoTexasA&Mphilanthropicefforts.EvansMedalrecipientsexhibitadistinguishedrecordofphilanthropybenefitingTexasA&M,throughgivingandvolunteerleadership.OtherqualificationsincludeawillingnessandabilitytomotivateotherstosupportTexasA&M,alifelongdevotiontoTexasA&Mandhighereducation,andapersonalhistoryofintegrityandexcellenceinallaspectsoflife.

Lowry Mays ’57 receives medal for philanthropy

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WhattogivedadforChristmasisaquestionthatleavesmany

stumped.Atie?Amovie?Tools?Howaboutanamedscholarshipathisalmamater?ThelatterwastheoptionchosenbyBlakePounds’89,whorecentlygave$25,000toMaystocreatetheHerbert(“Herb”)E.Pounds,Jr.’65EndowedScholarshipinhonorofhisfather,whichwillsupportastudentinthefinanceoraccountingprograms.

OnChristmasmorning,Blakeleftaletterunderthetreecontainingdetailsofthegift.WhenHerbopenedtheletterandstartedreading,Blakesayshewastouched.“Hestartedreadingandgottoaboutthesecondparagraphandcouldn’tfinish.Hewaskindofchokedup.I’veneverseenhimlikethat.Itobviouslymeantalottohim,”saidBlake.

“IamindeedhonoredandhumbledbythegiftbyBlaketoMays,”saidHerb.“Iwastakentotallybysurprise.ThegiftwasmuchmoremeaningfulthanthetypicalChristmasgift.”

Blake,whoholdsafinancedegreefromMays,saysgraduatingfromthebusinessschoolatA&Misacommonbondthatheandhisfather,anaccountingmajor,share.Hesaysthatthescholarship“wassomethingIwantedtodoformyfatherwhilehe’salive,somethingthatIthoughthe’dbehonoredby.”Hedescribeshisfatherashismentor,coach,andadvisor.

BlakesayshehadplannedtogiveagiftofthisnaturetoMaysatsomepoint

Merry Christmas, Dadaggie father honored by son’s gift

inthefuture,possiblywhenhisfourchildrenwereoutofcollege(theoldestis14,theyoungestisfive).However,hedecideditwouldbemoremeaningfultohisfatherifhegaveitsoonerratherthanlater.Theofferofmatchingfundsfromhiscompany(Accenture)alsomadethepresentattractive.

BlakehasbeenwithAccenturesince1990.HeisapartnerintheirHoustonoffice.Inadditiontohisfinancialgiftstotheuniversity,heisalsoinvolvedintheMaysDean’sDevelopmentCouncil.Heandhiswife,Dawn,resideinSpring,Texas.

Blakeisproudofhisfather’saccomplishments.UpongraduatingfromTexasA&M,HerbservedintheUnitedStatesAirForce,whereheflewmorethan220combatmissionsasapilotinSoutheastAsia.Helaterworkedinthebankingindustry,eventuallybecomingpresidentofanationalbank.HeearnedalawdegreefromtheUniversityofTexasandstartedanewcareerasanattorneywhenBlakewaspreparingtoenterA&M.Herbandwife,Melinda,liveinSanAntonio,wherehepracticeslaw,

specializinginsecuritiesfraudandbrokermisconduct.

“TheleadershipopportunitieswhichIhadatTexasA&Mpositionedmewellfortherealworld,andanysuccesswhichIhavehadcanbetraceddirectlybacktoAggieland,”hesays.

Blake ’89 honored his father, Herb ’65, with a named scholarship at Mays. “The gift was much more meaningful than the typical Christmas gift,” says Herb.

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“Callitwhatyouwant,‘payingitforward’or‘givingback,’there

comesatimewhenyouhonorthosewhohavehelpedtoshapeyou,”saysMarkEly’83,whowithhiswife,Janet,hasrecentlycommittedtoagiftof$150,000tocreateanendowedscholarshipfundforbusinesshonorsstudentsatMays.ThegiftwillbematchedbyfundsfromtheCenterforExecutiveDevelopmenttocreatea$300,000endowment.Thefundwillprovidesupportforstudentsofanymajorthatparticipateinthehonorsprogram,aswellasstudentswhodeclareanhonorsmajor.

Throughthisgift,Elyhopestohonorthosethathaveimpactedhiscareer,includingMaysbenefactorJerryCox’72.ElycallsCoxanoutstandingindividualwhounselfishlyprovidedmentoringatcriticaljuncturesinhiscareer.Coxissomeone

Elytriestoemulate,asheis“amodelcitizenandbusinessleader.”CoxhasgivengenerouslytoMaysinpreviousyears,mostnotablyprovidingtheleadgiftforJerryandKayCoxHall,thehomeofMays’graduateprograms,whichisadjacenttotheWehnerBuilding.

“Afewyearsago,Jerrysent[developmentofficer]DavidHicksandDeanStrawsertovisitwithmeaboutgettinginvolvedinfinanciallysupportingthedean’seffortsatMays.Ittookacoupleofyearstoseethelight,buttherewasneveranydoubtaboutwhatIneededtodo,”saidEly.“WhenImetDeanStrawserandhadanopportunitytoexperiencehisvisionforthebusinessschool,itwasquicklyapparentwhyindividualslikeJerryCoxweresocommittedtosupportingtheeffort.Iremaindulyimpressed.”

TheElys’giftwillsupportStrawser’s

strategicvisionforMays,whichincludesgreateremphasisonscholarshipsforbusinesshonorsstudents.

“MarkandJanet’smostgenerousgifthelpsMayscompetefortheverybestundergraduatestudentsinourbusinesshonorsprogram,”saidStrawser.“Theywilltouchthelivesofthesestudents,whilealsoprovidingthemwithrolemodelsforalifetime.Ijustcan’tthinkofhowmoreimpactfulanygiftcouldbethanthis.”

MarkandJanet—whomhecalls“thecenterof[his]universe,”—celebrated20yearsofmarriageinJune.Theyhavetwochildren,AveryandEmily,andliveandworkinSugarLand,Texas.ElyisthefounderandmanagingpartnerofEBREnergy,LP,anoilandgasexplorationcompany.

D.C. bound

First business honors major graduates, pursues dreams in a D.C. classroom

Elys to provide scholarships in business honors

JenniferMcCatharn’11wasstandingatthefootoftheLincolnMemorialat

twilight,thinkingaboutallthatshehadseeninherfewdaysinD.C.onatripwithotherbusinesshonorsstudents.LookingupatthemarbledfaceofoneofthemostinfluentialmeninAmericanhistory,shehadarevelation:thiscouldbeherfuture.Shereachedforhercellphone.

I love it here,shetextedhermom.Hermomwasquicktorespond:Just

remember, your home is in Texas. Now,twoyearslater,Jenniferisleaving

thatTexashomeandreturningtothenation’scapitol,whereshewillpursueamaster’sdegreeineducationthroughTheUrbanTeacherCenter.Shewillparticipateinafour-yearprogram,duringwhichshewillearnherdegreeforfreeinexchangeforserviceinaD.C.school.

Jenniferknowstheroadaheadofherwon’tbeeasy—D.C.publicschoolsare

notoriousfortheirlowgraduationratesandpooracademicscores—yetsheisoptimistic.TheUrbanTeacherCenterrecruitstopcandidatesfromacrossthenationtopreparethemtoteachinthemostchallengingschools,equippingthemwithstate-of-the-arttrainingandlinkingtheircertificationtotheirstudents’performanceoutcomes.Jenniferiseagertojointhisinnovative

program,whichhasthepowertoimpactsomanylives,aswellaseducationreformonalocalandnationallevel.Shelooksforwardtobeingintheclassroomandusinghercreativeandbusinessskillstoencouragelearning.

InMay2010,JenniferbecamethefirstMaysstudenttograduatewithadegreeinbusinesshonors.ShesaysthattheprogramhasbenefittedherthroughtheintimateclasssizesandspecialopportunitiessuchastheD.C.tripshetookpartinhersophomoreyear.Shealsoappreciatedthehonorsbookclub,whichexposedhertobookssuchasThree Cups of TeaandGood to Greatthathaveshapedthewaysheseesbusinessandtheworld.

JenniferisthankfulforthescholarshipsshereceivedduringheryearsatA&M.“Iknowhowmuchithasmeanttomyfamilyandtome…somedayIhopetogivebackinthesameway.”

It was on a business honors trip to D.C. in 2008 that Jennifer McCatharn ‘11 first realized that someday she would call the nation’s capitol “home.”

mays.tamu.edu 33

Ideas@Mays

Whensupervisorswantbetterperformancefromemployees,there

isaneasythingtheycando:spendmoretimeawayfromtheirowndesks.

Thereisadirectlinkbetweensupervisorwork-familyenrichmentandsubordinateperformance,saysnewresearchfromDwayneWhitten,clinicalassistantprofessorofinformationandoperationsmanagementatMays,andcolleagues.

Itworkslikethis:whenasupervisorhasahealthybalancebetweenworkandlife,itcreatesandpromotesamorefamily-friendlyworkenvironment.Thisinturnleadstoimprovedemployeeperformance.

Forsomecorporations,tellingmanagerstospendlesstimeintheofficeandmoretimeathomeseemscounterintuitive.Asoneclimbstheranksofacompany,increasingresponsibilitycanmeanlesstimeforpersonalendeavors.But,saysWhitten,inthiscase,timeawayfromtheofficecanactuallyleadtomeasurablegainforthewholeteam.

Whittenandcolleaguessurveyed161employeesand48immediatesupervisorsfromabroadrangeoforganizationsincludingmanufacturing,professionalservices,education,andhealthservices.Keyintheresearchisthatitdidnotlook

atCEOs,butrathermid-levelmanagers.Immediatesupervisorsarefrequentlygatekeepersinsettingthestandardsforacceptablebehaviorinaworkgroup.Ifemployeesseetheirimmediatebossflexherscheduletoattendachild’ssoccergameoralonglunchwithaspouse,employeeswillfeelmorecomfortableinmodifyingtheirschedulestobemoreharmoniouswithoutside-of-worklife.

Inthestudy,nearly90percentofthesupervisorsweremarriedand77percenthadatleastonechildlivingathome;forsubordinates,71percentweremarriedand59percenthadatleastonechildathome.Thesurveyaskedparticipantstoratestatementssuchas,“Myinvolvementinmyworkhelpsmeacquireskillsandthishelpsmebeabetterfamilymember,”and“Myinvolvementinmyfamilyputsmeinagoodmoodandthishelpsmetobeabetterworker.”Otherelementsofthesurveyaskedsupervisorstorateemployeeperformance,andemployeestoratehowfamilysupportivetheorganizationis,whatdegreeofschedulecontroltheyhave,andaperformanceself-evaluation.

Researchersfoundthatwhensubordinatesfeeltheyhavegreaterschedulecontrol,ithasanimpactontheir

Paying it forwardnalsupervisor work-life enrichment improves employee performance

jobperformanceasevaluatedbytheirsupervisorandthemselves.Researcherstheorizethatsupervisorswithhighlevelsofwork-familyenrichmentmaybecomemoretunedintothework-familyneedsoftheirsubordinatesandmaythereforerespondbyimprovingworkplacefamilyfriendliness.Theenvironmentmayoccurthroughformalorinformalpoliciesthatallowworkerstotakecontrolovertheirworkschedule(includinglocation)orsimplyamanagementstylethatconnotesasenseoffamilyfriendlinessorconcernaboutworkers’livesoutsidetheoffice—suchasshowingconcernforsubordinatehome-lifesituations,providinghelpduringapersonalemergency,orshowingsympathyaboutfamilyissues.

Whensupervisorshaveawell-balancedworkandfamilylife,theypayitforwardtotheiremployees.Then,supervisorsmorereadilyempathizewithsubordinatesandprovidesupportthatleadstoenrichment;thisenrichmentleadstogreaterengagementintheworkplaceonthepartoftheemployees,aswellasimprovedperformance.

Contact Whitten at [email protected].

34 @MAYSFall2010

Ideas@Mays

Formostlargefirms,morethanhalfofrevenuesaregeneratedoutsidetheir

homecountry.Inthisflatteningworld,formulatingtherightstrategiesaboutwhenandhowtoreleaseanewproductinmultiplecountriescanhaveasignificantimpactonsuccess.Firmsfollowoneoftwostrategies:waterfall(acascadeofreleases),andsprinkler(simultaneousrelease)acrossmultiplemarkets.

Tostudyinternationalmarketentrystrategies,ReoSong,marketingdoctoralcandidateandVenkateshShankar,BrandonC.Coleman,Jr.’78ChairinMarketingexaminedtheHollywoodmotionpictureindustry,identifyingwhichfactorsinfluencesuccessonaglobalplayingfield.Theirfindingsarevalidformanytypesofproductsbeyondmovies.

Theresearchersuseddatafromthemotionpictureindustrytotesttheirhypothesesforimportantreasons:unlikeotherindustries,eachmovieisauniqueproduct,andmoviemarketingandperformancedataarecloselytracked.

Indecidingthetimewindowbetweenlaunchinthehomecountryandinaforeignmarket,timeismoney,saysShankar.Ifyouwaittoolongtoenteramarket,youmaymissavitalwindowofopportunitycreatedbystrongadvertising.However,ifyouentertoosoon,youmaynotbenefitfromthespreadofpositiveword-of-mouth.Thisisespeciallytrueinthefilmindustry,asmovieshaveshortlifecyclesandcarryhugeinvestments.Appropriatelytimedreleasescantransformaso-somovie

intoahitandagoodmovieintoasuperhitintheaters.

Analyzingmorethan200filmsreleasedintheU.S.andabroad,ShankarandSonghavecreatedamodelthataccountsforseveralvariablesandoffersstrategicinsightsthatcouldimproveanewmovie’srevenuesineachcountry.

Asthefilmcascadestoothercountries,Shankarsays

marketers

shouldplanonastrategythatinvolvesreleasingfirsttocountrieswherethereisahighdemandforentertainmentandacloseculturalfitwiththethemesofthemovie.Inthoseenvironments,itwillbeeasierforthefilmtosucceed,boostingtheword-of-mouth.

Traditionally,waterfallU.S.filmreleasesgolikethis:domestic,U.K.,otherEuropeancountries,Asia,therestofthe

world.Shankarsaysthisisnotalwaysthebeststrategy.Ifamoviehasacloserculturefittoanothercountry,itshouldlaunchtheresooner.Forexample,thefilmDirty Dancing: Havana Nights,whichwasaboutLatindance.AfteritsU.S.release,itbecameabighitinlargeLatinAmericanmarketssuchasArgentinaandBrazil,whereitgeneratedenoughpositiveword-of-mouthtobesuccessfulinothermarketsaroundtheworld.

Piracymayalsobeafactorinthecountrysequencedecision.It’sadouble-

edgedsword,saysShankar.Ontheonehand,releasing

earlyincountriessuchasChinaandRussiameansbootleggedcopiesofthe

filmwillbeavailableforconsumersimmediately—

whichmaydiminishboxofficesales.Ontheotherhand,pirated

copiescanprovidefastword-of-mouthandimproveboxoffice

revenues.Moviesthatarenotlikelyto

generatemuchadditionalpositiveword-of-mouthshouldconsiderthe

sprinklermethod,whichinvolvesgreaterpre-launchadvertising.Much

anticipatedsequels,suchasIron Man 2,dobetterwithasprinklerrelease,as

thedemandforthemisalreadyhighandislesslikelytobehelpedbynewword-of-mouth.However,ifanotherstrongfilmisopeningatthesametimeinaforeigncountry,thenitmayhurttheHollywoodmovie’sticketsalesinthatmarket.

Whilethemodeliscomplex,onethingisclear,saysShankar:manyinHollywoodareignoringthesefactors—andmissingoutonmillionsofdollars.

Contact Venkatesh Shankar, [email protected] or Reo Song, [email protected].

Beyond Tinseltownmotion picture industry provides insights into multi-country release strategy

mays.tamu.edu 35

Ideas@Mays

Whenyou’reevaluatingtherisksassociatedwithinvestingina

company,oneitemyoumaynothavethoughttoconsiderisitslocationrelativetotheBibleBelt.However,thatmaybeasalientdetail,ifyou’reworriedaboutfraud.

NewresearchfromMaysaccountingfacultymembersSeanMcGuire,ThomasOmer,andNathanSharpsuggeststhatfirmsheadquarteredincountieswhereresidentsreportthatreligionisimportantintheirdailylivesexhibitlessaggressivefinancialreporting.

Thisisespeciallytrueinsmall-to-mediumsizedfirmsthathavelessexternalmonitoringfromfinancialanalysts.Forsuchcompanies,religioncanactasasubstituteforothermonitoring.

Thereisasignificantassociationbetweenthemeasureofacounty’sreligiosityandmeasuresofaggressivereporting,includingshareholderlitigationrelatedtoaccountingmalfeasance.Infact,aftercontrollingforotherfirmandcountycharacteristics,theyfindthatanapproximate10percentincreaseinthepopulationthatindicatereligionisimportanttotheirdailylivesresultsina48.8percentdecreaseintheoddsthatafirmheadquarteredinthatcountyissuedforaccountingmalfeasance.

Whichstatesoverallreportedthehighestnumbersofresidentsclaimingreligionwasimportantintheirdailylives?ThetoptenareallBibleBeltstates,withMississippi(86percent),Alabama(84percent),andTennessee(79percent)inthe

firstthreespots.AtthebottomofthelistbythismeasureareAlaska(48percent),Vermont(46percent),andNewYork(44percent).Texasisnumber13onthelist,with71.9percentofresidentsreportingreligionisimportantintheirdailylife.ThereligiondatawerecollectedbyGallup,Inc.

Anotherfindingofnoteisthatfirmslocatedinmorereligiouscountiesscoredloweronmeasuresofcorporatesocialresponsibility,includingsupportforthecommunityanddiversityinitiatives.Onthesurface,thisseemssurprising:shouldn’tfirmswherereligionhasanimpactshowhigherlevelsofcorporatesocialresponsibility?Theresearchershypothesizethatthisfindingmaybeeasilyexplained:inmorereligiouscounties,thereislikelylessneedforcorporateinvolvementinprovidingforneedswithinthecommunity,asthoseactivitiesarealreadybeingaddressedbyreligiousgroups.Also,ifacompany’sCEOorothermanagersarealreadyinvolvedincommunityeffortspersonallythroughareligiousgroup,theymaynotseetheneedtoinvolvethecorporation.

Whilethereligiosityofthecountywhereafirmisheadquarteredissignificantlyrelatedtofraudriskinalargesampleoffirms,Sharpnotesthatitisonlyoneofmanyfactorspotentialinvestorsmustexamine.Itissignificant,hesays,butoneshouldn’tinvestsolelyonthiscriteria.

Contact the researchers at [email protected]; [email protected]; or [email protected].

Increased religiosity, decreased fraudFirm’s location can predict the likelihood of fraud

36 @MAYSFall2010

Ideas@Mays

Thefirstdayonthejobisexcitingasanewemployeelearntheropesandthe

wayaroundtheoffice.Therearedozensoffreshfacesanditiseasytobesweptawayintherushofnewexperiences.Afewmonthslater,thenewjobhasbecomemoreliketheoldjobandtheemployeeoftenfindshimselfbackwherehestarted:wonderingifthegrassisgreenersomeplaceelse.

Whyisitthatthenoveltyofanewjobwearsoffsoquickly?Doesthecompanyneedtokeepemployeesasexcitedabouttheirworkplaceonday100asondayone?

WendyBoswell,NicholsAssociateProfessorofManagement,MaysResearchFellow,anddirectorofCenterforHumanResourceManagement,andAbbieShipp,assistantprofessorofmanagement,collaboratedtotakeadeeperlookintothenatureofthisprocessandthemeasuresemployersmighttaketolessentheeffectsofthelet-downaftertheinitialhigh.

Theresearchersbreakthenewjobexperienceintotwophases:honeymoonandhangover.ShippandBoswellexploredtheattitudeshiftinasetofnewemployeesoverthecourseofoneyear.ThesamplegroupofnewemployeescamefromapublicserviceorganizationinthesouthwesternUnitedStates,andweresurveyedatfourpointsthroughouttheyear:thefirstday,andthethree-,six-,andtwelve-monthmarks.Thesurveysassessedthenewemployees’levelsofsatisfactionbothwiththeirpreviousplacesofemployment,aswellaswiththeircurrentposition.

Theresearchindicatesthatitistypicalforanindividualtogothroughthehoneymoontohangoverprocess,thoughthe

severityoftheshiftfromhightolowvariesbetweenindividuals.TheemployeesthattheMaysprofessorsfoundtobethemostatriskforasteepdeclineinsatisfactionwerethosewhocametothenewjobwithbaggagefromtheiroldjob.Peoplestartedthenewjobfeelingdeepdissatisfactionabouttheirpreviousjobwillmorelikelyfeelagreaterlet-downafterthenewnesswearsoffbecausetheyfeltthenewjobwouldbesuchanimprovement.They’vesetthemselvesupwithunrealisticexpectations,saysBoswell.

Thedatatheygleanedfromthisstudyindicatedthatthepeakofanewemployee’sjobhoneymoontendstobebetweenthreeandsixmonths.Shippreasonedthatthismakessense,asitisduringthisperiodthat

Honeymoon to hangover in the workplaceHow does the new job become just like the old one?

anewemployeeisnolongerapprehensiveaboutbeginningwork,andtherealizationofhisorherpermanenceintheorganizationisfinallysettingin.

OneofBoswellandShipp’shypotheseswasthatgreatersocializationwouldhavearoleinpreventingthehangover.Thisturnedoutnottobethecase.Theorganizationwheretheresearchwasconductedtookseveralstepstowardsmakingsocializationimportant,includingafirst-daynewemployeeorientationandplannedactivitiesandsocialeventsthroughoutthefirstyear.Thesurveysrevealedthatevenwellsocializedemployeesexperiencethehoneymoontohangovershift.

Afterexaminingthedata,Boswellsaysitseemsthatjobsatisfactionhasmoretodowiththeindividual’sattitudesandpreviousexperiencesthanthemanagers’efforts.Also,thehoneymoontohangoverprocessisanaturaloccurrence,anddoesnotnecessarilyrepresentaproblem.“Evenifyou’rereallyenjoyingwhatyou’redoingandcontributingtotheorganization,youmaystillexperiencethisdecline,”shesays.

Infact,theabsenceofariseandeventualdeclineinenthusiasmcouldindicateaproblem,saysShipp.Ifanemployeedoesn’texhibitthosesigns,itmaybeanindicationthatheorsheislessengagedandmorelikelytoleavetheposition.

Insteadoftryingtopreventahangover,Boswellsuggeststhatmanagerscoulddomoretore-recruittheiremployees—inessence,givethemasecondhoneymoon.

Contact Boswell at [email protected] or Shipp at [email protected].

I went thinking that they showed the worst parts on the news and that it really wouldn’t be that bad. But everywhere we would go, everything we would see—everything was destroyed. Every person you talk to has lost someone. It’s not just a friend of a friend of a sister. It’s my brother, or my husband, or my mom.

Still, the people that I talked to were so grateful. They were scared, but they were grateful that they had this opportunity to live and to have a second chance…They felt that it was by God’s grace that they were still alive.

You want to help? I think the best way is to go there. Just go. They can use anyone. If they could use me, a young girl with no experience, then they can use you. —Cristine '10

Snapshots from Haiti

Creating knowledge and developing future ethical business leaders for a global society.

Cristine mayer ’10, a management major from arlington, texas, has made two service trips to Haiti since the January earthquake. she is a 2010 Buck Weirus spirit award recipient.mays.tamu.edu/haiti

It’s not about us. WhatmakesthisspecialisthatweunitetheAggieFamily...Whenwe’redownonthefield,peopleinthestadiumdon’tknowus,we’respecksofwhite,but

weleadeveryoneatKyleFieldintobeingpartofthe12thMan.

The 2010–2011 yell leaders include David Benac ’12 (far left), a finance and business honors major from Boerne, and John Bush ’11 (second from right), a management and business honors major from Beaumont.

mays Business school4113 tamuCollege station, tX 77843-4113

John ‘11 and David ‘12