Post on 13-Jul-2020
11 Years
MEG WHITMANCEO, eBay
TRISH NEWMANCEO, Westaff Inc.
CAROL BARTZCEO, Autodesk Inc.
MARION SANDLERCo-CEO, Golden West Financial Corporation
ELIZABETH MclaughlinCEO, Hot Topic Inc.
Lisa harperChairman and CEO, Gymboree Corporation
S P R I N G / S U M M E R 2 0 0 6
The Innovator is published by the UC Davis Graduate School of Management to inform alumni and the business and academic communities about the programs and activities at the School.
deanNicole Woolsey Biggart
associate deanRichard P. Castanias
assistant dean – student aFFaiRsJames R. Stevens
assistant dean – exteRnal Relations and development Rissa V. Spears
managing editoR Timothy Akin Director of Marketing and Communications
associate editoR Marianne Skoczek
contRiButing editoRs Shannon Tanguay Director of Alumni Relations
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The GSM Community
Please direct correspondence to:
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The current and back issues of the Innovator are available online.
On the cover: Of the 200 largest public companies headquartered in California, just six were led by women CEOs at the time the survey was completed. Since then, two have stepped down and been replaced by men and another will soon leave after the company is sold. The six are (from top left): Carol Bartz, CEO, Autodesk Inc. (became executive chairman in May); Trish Newman, CEO, Westaff Inc.; Meg Whitman, CEO, eBay; Lisa Harper, chairman and CEO, Gymboree Corp. (now chief creative officer); Elizabeth McLaughlin, CEO, Hot Topic Inc.; and Marion Sandler, co-CEO, Golden West Financial Corp. (will cede her CEO role after pending purchase by Wachovia Corp.).
dean’s message . . . . . . . . . . . . . . . . . 1
cover story UC Davis Study of California Women Business Leaders . . .2
Faculty Focus . . . . . . . . . . . . . . . . . . . 4Katrina Ellis Takes Stock of Corporate Governance and Performance
distinguished speakers Cisco Chairman Champions Corporate Citizenship . . . . . .6Customer Service: Mission Critical to Building Business . . .8
school newsNew UC Davis Energy Efficiency Center Launches . . . . . .5Executive-in-Residence: Sotiris Kolokotronis . . . . . . . . .10Leadership that Works: Third Annual Peer-to-Pier Event . . 11Alumni and Students Shine at Annual Gala . . . . . . . . 12Students Make an Even Greater “Net Impact” . . . . . . . 16GSM Team Makes Finals of Global Citizenship Challenge . . 17MBA Challenge for Charity Continues to Thrive . . . . . . 18Big Bang!: Ensembles and Mesolytics Share Winners Circle in UC Davis Business Plan Competition . . . . . 20Corbetts Designate Fellowship for Big Bang! . . . . . . . . 23Brazil and Argentina: A Journey to Two Worlds . . . . . . .24 Confirming the CalPERS Effect: GSM Study Links Shareowner Activism to Big Financial Gains . . . .34
news ticker . . . . . . . . . . . . . . . . . . . . 28“Looking Back, Moving Forward”: 25th Anniversary Kick-Off
UC Davis Wine Executive Program Attracts Globetrotting Attendees
Clients Praise MBA Consulting Center Projects
Financial Times Ranks UC Davis MBA Program in Top 50 in U .S .
Assistant Dean Claudine Thompson Retires After 36 Years
GSM Briefcase Brigade Marches On
in appreciationReza Abbaszadeh’s Generosity Opens New Opportunity . . .31
student spotlightsSharma Takes the Time to Fashion the Perfect Career . . . 32Guerra Finds Bay Area MBA Program a Perfect Fit . . . . 33
Faculty ResearchFaculty Research Popularity Ranks Among Top 50 U .S . Business Schools . . . . . . . . . . . . . . 36Davis Conference on Qualitative Research Draws International Scholars . . . . . . . . . . . . . . 39
alumni associationLet’s Do Business: Alumni Strategic Provider Network . . .40Class Notes . . . . . . . . . . . . . . . . . . . . . . . .40Calendar of Alumni Events . . . . . . . . . . . . . . . . 41
Back coverU.S.News & World Report: Eleven Years in the Top 50
in this issUe • sPrinG/sUMMer 2006
UC Davis GraDUate sChool of ManaGeMent • 1
This spring I had a rare opportunity to travel to
Europe and the Middle East, including a week
teaching organizational behavior in Sardinia
and attending the international dean’s conference in
Paris held by AACSB International (the primary associ-
ation of business schools worldwide). The highlight of
the adventure, however, was three days in Iran to visit
Sharif University of Technology in Tehran.
The UC Davis Graduate School of Management was
fortunate this year to receive a gift that will support
six visiting international students to study with us
for a quarter. Following the AACSB conference in
Paris at the end April, I traveled to Iran with Dr. Reza
Abbaszadeh, who is the benefactor of the program
and CEO of Premier Access Insurance Company in
Sacramento (see related story page 31) .
In Tehran we met with business students and spent
time with the president of Sharif University and his
top administrative team of deans and vice presidents.
We agreed on the importance of continued contact
and discussed possible future trips. We hope that the
diplomatic doors will open to our proposed student
exchange, a small effort but perhaps a doable one
given the current political situation.
Reza and I interviewed 12 candidates for the student
exchange—four women and eight men who are com-
pleting their first MBA year. Like our MBA students,
they have work experience as industrial engineers, in
operations and construction project management, and
other careers that employ their technology training.
They have worked in both large and small firms. One
is a passionate pianist and cello player. Another has
played on the national basketball team. They expressed
their frustration with the level of management skills
at their places of work and often cited that as their
reason for pursuing an MBA.
Sharif University, which is often referred to as the
CalTech or MIT of Iran, is based on the U.S. model
of higher education. The faculty members are largely
U.S.-trained, they use the top U.S. textbooks and cases,
and all instruction is in English. It is not surprising
that the students want to personally experience the
sources of their education.
They use the language of modern business and talk
about SWOT diagrams, CRM, supply chains and
performance appraisal systems. Some have nearly
memorized the Graduate School of Management’s
Web site and recite our professors’ research and the
activities of our student clubs.
I was so moved by this yearning
to experience, even briefly, our
daily life. I am eager to see what
will happen when the words in
our texts and the pictures on
Voice of America television
become real in a new way.
I do know that business is a
powerful institutional force
globally. It organizes interests
and dreams, whether in Italy
or Iran, and assists or thwarts
their realization depending on
the social and political structures
in place.
“Peace Through Commerce” is a new initiative of the
AACSB International that was embraced at the Paris
conference. Perhaps trade and exchange can play a role
in stabilizing global relations.
I also know that personal commitment makes the
difference, not polemics. I am determined to try.
I am indebted to the generosity and tenacity of Reza,
whose vision made our trip possible. He has invested
his time, contacts and money in hopes of giving
Iranian and U.S. students the opportunity to learn
from each other.
On this trip I made a new and valued friend in Reza,
whose example will inspire me to do more and better.
Nicole Woolsey Biggart Dean Jerome J . and Elsie Suran Chair in Technology Management
To read more about the trip, see my blog @
In Tehran, two of my tour
guides were Elham Moore
(middle) and Azin Arya (right),
two bright, young women
finishing their engineering
degrees at Sharif University of
Technology. We hope to host
six exchange students from
Sharif in the UC Davis MBA
program starting this fall.
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http://gsmdean.blogspot.com
2 • sPrinG / sUMMer 2006
Fe
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stUDy finDs WoMen larGely aBsent
froM BoarDrooMs, exeCUtive sUites
at California’s toP PUBliC CoMPanies
A woman sits in only one of
every 10 chairs at the board-
room tables and executive
desks of California’s 200 largest
publicly traded companies, and that
means a missed opportunity for
business, according to a ground-
breaking study released in February
by the UC Davis Graduate School
of Management.
In the first study of its kind to take
a critical look at the participation
of women in corporate leadership
in California, the researchers found
women hold only 10.2 percent of the
combined board seats and highest-
paid executive officer positions.
Specifically, they occupy only 202
seats, or 11.4 percent, of the 1,771
board seats and, at 8.2 percent, an
even smaller proportion of the
1,006 executive slots.
“The 2005 UC Davis Study of
California Women Business
Leaders” was co-authored by
Dean Nicole Woolsey Biggart,
Professor Kimberly Elsbach
and Assistant Professor
Katrina Ellis. They were surprised
that California isn’t leading the
way for women in business.
Biggart said they had expected
California, the world’s eighth-
largest economy and a
“trailblazer in social trends,”
to be at the forefront of
corporate leadership. “The same innovative
thinking that drives the state’s economy is not
propelling women into key leadership positions
in business,” she said.
The School released the study results on February
9 at a standing-room-only gathering of business
leaders, elected officials and media in downtown
Sacramento. The study garnered widespread coverage
in major newspapers and news wires and on
television and radio.
GooD BUsiness sense
At a time when corporate leadership is being held
to a higher level of accountability, the study’s authors
say greater representation of women makes good
business sense.
“Bringing more women into the boardroom and
executive ranks—providing a diversity of talents
and ways of framing decisions—will result in more
diverse and profitable businesses and create a
stronger economy,” Biggart said.
Ellis, a professor of finance, pointed to two recent
studies that show businesses do better when
women share in the key leadership positions.
A 2004 study by Catalyst, a national non-profit
organization working to advance women in business,
found a connection between gender diversity and
strong financial performance and good corporate
governance. In other research, published in The
Financial Review in 2003, three researchers from
Oklahoma State University found that board
diversity is related to higher shareholder value.
“When you bring in different viewpoints, companies
can develop a better strategy because they can
approach a problem more creatively,” Ellis said.
Biggart, a professor of organizational behavior
who studies economic networks, said government
reforms, including the 2002 Sarbanes-Oxley Act,
are compelling businesses to include external
directors who are independent and who add to
the diversity of perspectives on their boards.
The researchers used Standard & Poor’s data to
identify the top 200 companies headquartered in
California by net revenue for fiscal year-end
Top: Co-authors of the study (left to right) are Assistant Professor Katrina Ellis, Professor
Kimberly Elsbach and Dean Nicole Woolsey Biggart .
Bottom: At an event announcing the study, state Senator Jackie Speier (D-San Francisco/
San Mateo) tells reporters that the findings set a new benchmark for advancing women
and California business itself . “The growth of women in executive offices and boardrooms
is slow as molasses,” she said . “The good news is that some companies here in California
recognize that women have great value .”
— Dean niCole Woolsey BiGGart, Co-aUthor
of the “UC Davis stUDy of California
WoMen BUsiness leaDers”
UC Davis GraDUate sChool of ManaGeMent • �
www.gsm.ucdavis.edu/census
Trish Newman, CEO of Westaff, accepts an award
from UC Davis Graduate School of Management
Dean Nicole Woolsey Biggart . Westaff is ranked
third among California public companies in the
“UC Davis Study of California Women Business
Leaders,” which ranks corporations according to their
inclusion of women in top decision-making positions .
reporting from June 2003 through May 2004.
They then compiled information about directors
and the five highest-paid executives from the
companies’ Securities and Exchange Commission
filings through August 2005.
shatterinG the Glass CeilinG
The study identified 25 companies that have
more than 20 percent women directors and
executive officers. The study’s authors said these
25 can serve as role models, and the Graduate
School of Management recognized them with
awards at the February event.
At the top is Oakland-based Golden West
Financial Corporation, parent company of World
Savings, which is the only company in the state
with an equal number of women and men in
executive and board positions. But it will not call
California home much longer. North Carolina–
based Wachovia Corp. recently agreed to purchase
Golden West in a $26 billion deal.
At the February event, Elsbach moderated a panel
of three leaders from the top 25 companies that
included Maryellen Herringer, a board director
for Golden West; Trish Newman, CEO of Westaff
Inc.; and Robert Crouch, a senior vice president
with Wells Fargo Bank. They said leaders must
send a strong message that all workers will be
treated equally.
“The Golden State is not a land of golden opportunity for women who want to be in the top decision-making positions in our corporations . This is a missed opportunity for California business .”
“We always give women the same training, the
same opportunity and the same pay level as
men,” Herringer said.
Elsbach, who studies leadership and organizational
behavior, said getting women promoted to the
top is a challenge. “Part of the difficulty comes
from the culture of companies that don’t provide
women with opportunities to develop the skills or
gain the experience they need to move up,” she said.
a Catalyst for ChanGe
The authors will conduct the study annually to
measure how women’s roles in corporate gover-
nance and executive leadership change over time.
To advocate for greater gender diversity and help
companies identify qualified women for top-level
openings, the Graduate School of Management
has formed an alliance with the Forum for
Women Entrepreneurs and Executives (FWE&E),
a Silicon Valley–based international organization
aimed at accelerating women’s opportunities to start,
manage and invest in market-leading companies.
As partners, the FWE&E and the GSM have joined
the InterOrganization Network (ION). Formed in
2004, ION is a consortium of regional organizations
in seven states and cities that publish similar
annual reports on the status of women directors
and executive officers. ION members leverage
their strengths and influence to increase women’s
representation in corporate leadership.
“We’re just starting to think about what needs to
be changed to make things more equal,” said
Ellis. “There is a lot of potential for future research
on why women are not moving into these
positions. We’re looking forward to working
with the Forum for Women Entrepreneurs and
Executives. As women executives, they’re on the
front lines.”
stUDy QUiCK faCts*
• Women hold only 10.2% of the board seats and highest-paid executive officer positions in the 200 largest public companies headquartered in California.
• Fifty five—more than 27%—of these 200 compa-nies have no women board directors and no women executive officers.
• Just over one-third of the corporations have no women board members
• More than two-thirds of the 200 top public companies in California have no women executive officers.
• Only six of the 200 largest public companies in California are led by women CEOs.
• Health care sector has the highest percentage of women directors at 16.1%. The semiconductor industry has the lowest percentage of women directors with 5.5%.
• Retail has the highest per-centage of women executive officers, at 15.1%. The con-sumer goods sector has no women executive officers.
• Size matters. Larger compa-nies have a greater number and greater proportion of women board members than do smaller companies.
* As of August 2005, from data compiled from company proxy statements and annual reports filed with the Securities and Exchange Commission.
— assistant Professor Katrina ellis
� • sPrinG / sUMMer 2006
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Katrina EllisAs the results of the “UC Davis Study of California Women
Business Leaders” became clear, co-author Assistant
Professor Katrina Ellis felt a sense of disappointment.
“We aren’t any different from anywhere else in the country,” she
says. “I had hoped that California was more progressive as far as
opportunities for women in leadership,
but that wasn’t the case.”
A finance specialist, Ellis is known for
her research into the complicated world
of IPOs, or initial public offerings. The
women in leadership study presented a
rare opportunity to look in greater depth
at a smaller number of companies than
her research usually involves. And like
her co-authors, Dean Nicole Woolsey
Biggart and Professor Kimberly Elsbach,
she felt strongly that the dismally low
numbers of women in top-level executive
positions and serving on boards of
directors should be publicized, and that
the data be tracked annually.
Ellis, who received her Ph.D. in finance
from Cornell University in 2000, has
taught at the Graduate School of
Management for five years. During this
time she has earned high marks from
students—and has profited from the
rich and nurturing research environment
UC Davis offers.
Ellis’ early research focused on the role
of investment banks in promoting IPOs
and bringing them to market. Today
finance scholars are more interested in long-term trends.
“We’ve come to realize that investment banks are not passive
intermediaries; they have their own motivations, and their
actions can influence pricing and trading,” Ellis explains. One
area of current research lies in the first-day underpricing of
shares. “The standard theory of financial markets is that this
persistent mis-pricing shouldn’t happen,” she says. “Traditional
models assume that the market is efficient and the investment
banks should be able to get the price right. So why don’t they?”
Her efforts to answer this and other key questions have led
Ellis into innovative, cross-disciplinary collaborations. She
and Assistant Professor Michelle Yetman are exploring whether
and to what extent investor sentiment affects IPO price. With
Assistant Professor William Gebhardt she is analyzing stock
price responses to earnings announcements.
“Our School has a diverse pool of younger
faculty, which makes for an energetic
research environment,” Ellis notes.
She is also working with researchers at
the University of Notre Dame and the
University of Texas at Austin to empiri-
cally examine whether the magnitude
of IPO underpricing is related to capital-
gains taxes.
In the classroom Ellis has become known
for her highly demanding and equally
rewarding electives in financial management
and investment analysis. This summer
she’ll offer an entrepreneurial finance
course in the School’s Bay Area MBA
program. Like her financial management
course, it will be case-based and is sure
to generate a lot of in-class debate.
“Did the company make the right deci-
sions? There is no perfect answer, but the
discussions we have around this question
are invaluable,” she explains. “By the end
of the quarter the students are able to run
the numbers. But more than that, they
know how to read the story behind the
numbers: how does looking at a company’s
finances translate into its strategy or the decisions its managers
should make?”
Assistant Professor Katrina Ellis’ most recent paper, “Who Trades
IPOs? A Close Look at the First Days of Trading” was published
in February in the Journal of Financial Economics.
“We’ve come to realize that
investment banks are
not passive intermediaries;
they have their own
motivations, and their
actions can influence
pricing and trading .”
www.gsm.ucdavis.edu/faculty/research/spring2005.htm#ellis
— associate pRoFessoR andReW haRgadon, FoUnDInG DIrECTor, UC DAvIS EnErGy EFFICIEnCy CEnTEr
GraDUate sChool of ManaGeMent • 5
UC Davis GraDUate sChool of ManaGeMent • 5
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Center Will Shine New Light on Energy Efficiency Efforts, EntrepreneurshipassoCiate Professor anDreW harGaDon naMeD foUnDinG DireCtor
The founding director of the new UC Davis Energy Efficiency Center,
Associate Professor Andrew Hargadon (right), says the center will bring
together scientists, engineers, venture capitalists and manufacturers dedicated
to speeding new energy-saving products and services to market . At the April
12 campus event to launch the center, Hargadon is flanked by Gov . Arnold
Schwarzenegger, state Assemblymember Alan Nakanishi (R-Lodi) and
UC Davis Chancellor Larry Vanderhoef .
With a power-saving natural
ventilation system overhead
and state-of-the-art radiant
floor slabs underfoot, California Governor
Arnold Schwarzenegger joined Chancellor
Larry Vanderhoef and environmental,
industry and government leaders at UC
Davis on April 12 to celebrate the launch
of the world’s leading university center of
excellence in energy efficiency.
Founding director of the UC Davis Energy
Efficiency Center Andrew Hargadon,
an associate professor and director of
technology management programs at the
Graduate School of Management, said the
center will be dedicated to speeding the
transfer of new energy-saving products and
services to market. The center will focus
on three areas that use the most energy
in California: transportation, homes and
other buildings, and agriculture and food processing.
“There have been 30 years of energy efficiency research, but
they’ve lacked business models,” Hargadon said. “This center
will show how businesses can make money by saving energy.
This is the last mile between researchers’ work and its impact
on society.”
The location of the launch event showcased design and
construction innovations the Energy Efficiency Center will
emphasize. When completed, Gladys Valley Hall will be the
first building at UC Davis designed and built to achieve
certification under the U.S. Green Building Council’s Leadership
in Energy and Environmental Design rating system. The hall
will be the heart of the UC Davis School of Veterinary Medicine.
The center will expand the Graduate School
of Management’s existing business development
education and entrepreneurial programs in
partnership with the College of Engineering,
the Institute of Transportation Studies, the
California Biomass Collaborative, the California
Lighting Technology Center, and the UC Office
of Research’s Technology and Industry Alliances.
The center will also partner with the private
sector and public agencies.
Hargadon tapped GSM alumnus Benjamin
Finkelor ’04 to be the center’s program manager.
Finkelor most recently served as interim executive
director of CleanStart, a Sacramento business
incubator that supports clean-technology ven-
tures. “The center is just the tip of the iceberg
for the university’s capabilities and movement
towards an interdisciplinary, campus-wide focus
on the larger issues surrounding sustainability,”
Finkelor said.
The Energy Efficiency Center was founded with a $1 million
grant from the California Clean Energy Fund, a $30 million
non-profit, public benefit corporation established in 2004 out
of the PG&E bankruptcy settlement. The university will match the
grant with $1.3 million in operating and research funds, faculty
time, and office and laboratory space. PG&E Corporation pledged
$500,000 over five years to fund fellowships and other initiatives.
“The effective management of energy costs is increasingly
important as companies strive to maintain a competitive edge,”
Hargadon said. “The center looks forward to helping California
businesses measure and mitigate these costs, and manage the
competitive risks associated with energy price volatility.”
http://eec.ucdavis.edu
“This center will change the
way we study energy
efficiency, the way we teach it,
and the ways in which
we work together with the
public and private sectors to
develop real and lasting
innovations in energy.
Keep an eye on us.”
“It is our obligation to respond as a good corporate citizen in every community that we are in.” — John MorGriDGe, ChairMan, CisCo systeMs
CisCo ChairMan John MorGriDGe ChaMPions CorPorate CitizenshiP
6 • sPrinG / sUMMer 2006
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At Cisco Systems, Good Deeds Boost the Bottom Line
The avalanche of accounting and fraud scandals that
have shaken corporate America in recent years have
made it painfully and publicly clear: for some, the
end can justify unethical and even illegal means if the
stakes are high enough.
Away from the white-hot media spotlight, however, others
have forged another way, placing principles at the core of
all enterprise. These companies embrace a culture that values
and acts on an ingrained sense of corporate responsibility.
As Enron’s dark shadow lengthened last winter with its
past two CEOs headed to trial, John Morgridge, chairman
and former CEO of Cisco Systems, discussed a much
worthier—and more profitable—path. Morgridge visited
UC Davis in January as a Dean’s Distinguished Speaker
for the Graduate School of Management.
After meeting with campus officials and regional business
leaders about higher education, research and technology,
Morgridge began his talk at the Mondavi Center by paying
homage to “great research universities” like UC Davis and
Stanford University, where he received his MBA and the
alma mater of Cisco’s founders.
Top-tier research institutions, he said, are “unique
companies” filled with “cheap labor willing to work on
ideas others don’t think are worthy of effort.” This work
has led to innovations and knowledge that today drive
the world’s economy. Over the past 20 to 30 years, for
example, powerful academic-corporate partnerships have
fueled California’s technology explosion and its
accompanying prosperity.
GivinG BaCK to the CoMMUnity
Morgridge helped build Cisco and its culture from the
ground up. He joined the company as president and CEO
in 1988. Initially funded by the founders’ credit cards
and second mortgage, Cisco went public in 1990 under
Morgridge. During his tenure, the company grew from $5
million in annual sales to more than $1 billion. He was
appointed chairman in 1995. Today the San Jose–based
company is the world’s leading supplier of networking
equipment and network management for the Internet,
with almost $25 billion in annual revenues and 48,300
employees worldwide.
Cisco’s success, Morgridge argued, is intricately tied to its
corporate culture, one that from the beginning has disdained
waste and has valued frugality, customer service, ethical
leadership and a commitment to giving back.
In discussing the need for principled leadership, Morgridge
cited a recent study of 25 Silicon Valley executives that
explored how each developed their “moral compass.” Not
surprisingly, parental guidance—not so much what parents
say, but how they act—is critical. Later, observation of
professional mentors plays a similar role. Other major
influences include education and early work experiences,
and having a sense of community that sets standards and
provides boundaries.
Culture—an organization’s beliefs and behaviors—Morgridge
noted, evolves from many sources; if not consciously planned
it “will happen without shaping.” Philanthropy has been
a deliberate part of Cisco’s culture since its days as a
fledgling start-up.
“We gave back when we were below the radar, and it became
part of our organization,” he explained. Shortly after
Cisco’s current president and CEO, John Chambers, joined
the company, Morgridge approached him with a request
for a donation to Stanford. Chambers readily agreed but,
added Morgridge, probably thought the requested amount
a little excessive. It was 10 percent of his net worth.
“It is our obligation to respond as a good corporate citizen in every community that we are in.” — John MorGriDGe, ChairMan, CisCo systeMs
UC Davis GraDUate sChool of ManaGeMent • �
At Cisco Systems, Good Deeds Boost the Bottom Line
In 1984 the company was headquartered in East Menlo
Park, Calif., next door to the underfunded and struggling
Costano Elementary School. Cisco employees literally
jumped the fence and got to work, painting walls and
cleaning the schoolyard. Cisco’s support soon expanded
into a partnership of mentoring and working with teachers
and administrators to accomplish long-term objectives—
and the donation of a fully networked computer lab.
Within 10 years Costano students boasted some of the
highest test scores in the district.
Forced to downsize during the dot-com bust in 2001,
Cisco created the Community Fellowship Program, offering
employees full benefits and partial pay for a year’s service at
a local non-profit. Today Cisco workers can put their skills
and knowledge to work for a year at one of 20 partner
organizations that include numerous schools, Habitat for
Humanity, Save the Children and Second Harvest Food
Bank. The company also provided human and material
resources to Indonesia in 2004 following the deadly
tsunami, and sent employees to Louisiana and Mississippi
in the wake of last fall’s disastrous hurricanes.
“It is our obligation to respond as a good corporate citizen
in every community that we are in,” Morgridge explained.
This response capitalizes on the “sweet spot” between
profit-driven business objectives and philanthropic giving.
The sweet spot only exists and is sustainable, he said,
when a company’s “doing good” benefits both parties. For
Cisco, computer-savvy communities provide an immediate
market for its products and a more diverse pool of
potential employees.
As the company’s reputation and bottom line clearly show,
Morgridge’s sweet spot does indeed exist—and Cisco’s
found it.
finDinG the “sWeet sPot”
The success at Costano compelled Cisco to develop other
education-related programs. The Networking Academy
program—a partnership between Cisco, education, business,
government and community organizations around the
world—is a comprehensive e-learning program that provides
students with critical Internet technology skills. Launched
in the U.S. in 1997, the academy has spread to 97,000
institutions in 165 countries, and has more than one
million graduates. Today almost half a million students
are enrolled. Because of the good will and positive image
it has generated, Morgridge called the program “probably
our most successful marketing campaign, and we never
intended it to be.” It is one reason why Cisco dominates
the education market.
Today Cisco’s philanthropic efforts include an online math
program that was initially developed for 100 schools in
the Kingdom of Jordan. This program was later the basis
for Cisco’s 21st Century School Initiative, a $40 million
commitment of cash, equipment and services to Gulf Coast
schools damaged by Hurricane Katrina.
www.news.ucdavis.edu/multimedia
To view web video of John Morgridge’s presentation, visit:
8 • sPrinG / sUMMer 2006
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Customer serviCe: mission Critical to Building Business
At a Business Partner breakfast in February, a panel of top executives shared insights about the importance of customer service . (Left to right:) Tom Villa, vice president of customer operations, SureWest Communications; Roger Valine, CEO, Vision Service Plan; and John Onsum, president and CEO, First Northern Bank .
High-quality customer service has
become mission critical in today’s
competitive markets . How well firms
foster strong customer relationships, loyalty and
affinity often can make or break their ability to
grow the business—and generate profits .
At a Business Partner breakfast on February 28 at the Graduate
School of Management’s One Capitol Mall suite in Sacramento,
Dean Nicole Woolsey Biggart moderated a panel discussion
featuring John Onsum, president and CEO of First Northern Bank;
Roger Valine, CEO of Vision Service Plan; and Tom Villa, vice
president of customer operations for SureWest Communications .
The companies are members of the Business Partnership Program .
Peppered with questions from Dean Biggart and the capacity
audience, Onsum, Valine and Villa each shared how building
their company’s business around high-quality customer service
reinforces the company’s brand and differentiates it in the market .
“that’s My BanK”
As a locally owned, community bank, First Northern Bank lives
and breathes customer service. Established in 1910, First Northern
serves Solano, Yolo, Sacramento, El Dorado and Placer Counties.
In a market ripe with mounting pressure from products and
positioning by Wells Fargo, Bank of America, Washington Mutual
and other giants, the relatively small bank has created a niche
by being passionate about personal attention.
Even down to its company slogan—“That’s My Bank”—and
its web address of the same name, First Northern’s brand and
reputation are tied to individualized service and concern for
its customers’ financial well-being. Onsum has carried that
torch since he started at the bank as a management trainee
in 1972, fresh out of UC Davis. He has been president and
CEO since 1997.
Unlike customers of many big banks, whose phone experiences
are shaped by call centers and voice mail menus, First Northern
customers can call any of its 11 branches during business hours
and be greeted by an actual person at the branch who can answer
questions or direct the call.
Mystery shoppers visit and phone the branches frequently to
confirm the quality of customer service. In addition, Onsum
meets regularly with retail and business customers at dinners
dubbed ‘Table for Eight,’ where he asks about their experience
banking at First Northern and how it might be improved.
“It’s an opportunity to interact with our best customers and
we get incredibly valuable feedback,” Onsum said.
Onsum described how each employee—from tellers, to loan
officers to the management team—is viewed as a front-line
customer service representative. “We encourage our employees
to be shareholders, and we give them incentives to invest,” he
said. “It creates a personal attachment to the bank’s success. It’s
as though they have their name on the door when the customer
comes in.”
The strategy has paid dividends for both the company and
its vested employees. First Northern’s stock is up more than
140 percent over the past two years, and the bank recently
announced record earnings of $2.4 million for the first quarter
of 2006, up 42 percent over the same period last year. Now,
that’s money in the bank.
“Our customers are our neighbors . We need to know them, and we do . Customer service is at the core of our company strategy and has been for a long time .”
—toM villa, viCe PresiDent
of CUstoMer oPerations,
sUreWest CoMMUniCations
“Our ‘Table for Eight’ dinners offer an opportunity to interact with our best customers, and we get incredibly valuable feedback .”
—John onsUM, PresiDent
& Ceo, first northern BanK
UC Davis GraDUate sChool of ManaGeMent • �
GraDUate sChool of ManaGeMent • �
Customer serviCe: mission Critical to Building Business
“In today’s world you have to offer better than just ‘good’ customer service . You have to be easy to do business with .”
—roGer valine, Ceo, vision serviCe Plan
GoinG aBove anD BeyonD = rx for sUCCess
As chief executive officer of Vision Service Plan, Roger Valine
has focused the Rancho Cordova–based company on customers’
experience so intensely that every employee sees their success
and that of the company through the same lens.
The nation’s largest provider of eye-care wellness benefits,
Vision Service Plan has 46 million members nationwide; one
in seven people rely on VSP for eye-care health coverage. VSP
has contracts with 25,000 clients, including 228 of the 2005
Fortune 500 companies, and serves a network of 23,000 doctors
nationwide. Under Valine’s leadership since 1992, VSP’s annual
revenue has grown from $440 million to $2.2 billion; for the
past seven years it has been named one of Fortune magazine’s
“100 Best Companies to Work for in America.”
Happy, motivated employees have made the difference, according
to Valine. The company encourages its 500 customer service
representatives to go the extra mile—even if it means bending
company policy. “They have complete authority to please the
customer,” Valine said.
Not surprisingly, for the second consecutive year, J.D. Power
and Associates has ranked VSP “Highest in Overall Member
Satisfaction Among National Vision Plans.”
VSP’s commitment to the customer experience is intricately
woven into employee compensation and manager bonuses. A
division within VSP measures “customer delight” by surveying
external and internal constituencies. Only “very good” and
“excellent” responses count toward annual goals.
ConneCtinG With voiCe, viDeo anD Data
The reality is pretty simple for Tom Villa, who heads
customer care, collections, installations and repair for SureWest
Communications, a publicly traded telecommunications
company headquartered in Roseville.
“Our customers are our neighbors,” Villa summed up. “We
need to know them, and we do. Customer service is at the
core of our company strategy and has been for a long time.”
SureWest offers a triple play of voice, video and data services
in the greater Sacramento region, one of the nation’s most
competitive telecom markets. SureWest goes head-to-head
against heavyweights with national footprints like AT&T,
Comcast, Verizon and Cingular to attract and keep customers
who expect 100 percent reliability and prompt resolution of
any service problems. “Our niche in the region is customer
service,” Villa explained.
Villa said that customer experience management—providing
a unique level of service to various customer segments—has
been “a huge issue at SureWest” since the company culture
has been to provide incredible “customer service at any cost.”
But, he added, customers are not alike (i.e., business vs.
residential), and the 20/80 rule that 20 percent of customers
generate 80 percent of profits is changing attitudes.
He announced that SureWest was outsourcing its 411 information
service for the first time in the company’s 92-year history.
“Others can do that better than us,” Villa said, adding that
those hired in the Philippines have college degrees and strong
communication skills.
Technology and its complex support structure continue to change
the telecom landscape, triggering the need for more personable,
versatile and highly skilled customer service representatives who
are familiar with databases.
Villa said universities play a more important role than ever in
educating customer care experts of today and for tomorrow.
“The complexity of interactions with customers will dictate it,”
he noted. “From an education standpoint, the stakes have gone
up dramatically.”
10 • sPrinG / sUMMer 2006
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DeveloPinG a strateGiC vision for saCraMento’s fUtUre
Executive-in-Residence Sotiris Kolokotronis Urges More Smart Growth
An electric scooter
stands ready
inside his real
estate development
office, and he hugs the
corners around midtown
Sacramento behind the
wheel of a racing green
Mini Cooper, living out the
car’s catchy ‘Let’s Motor’
lifestyle ads that ask us to
“conserve space as well as
fuel” and to “leave a small footprint
and an even smaller tire track.”
Offering an antidote to suburban sprawl around the state
capital, developer Sotiris Kolokotronis has been preaching
about and putting the principles of smart growth into action.
He’s focused on building high-density, mixed-use housing that
preserves open space, reduces the need for commuting, and
cuts traffic and smog.
Melding retail and residential, Kolokotronis’ infill projects—
such as his planned L Street Lofts and the innovative Fremont
Building—are credited with leading the renaissance of urban
living in the core of the city.
As the Graduate School of Management’s Executive-in-
Residence this spring, Kolokotronis taught a quarter-long MBA
course on real estate development, drawing on his two decades
of experience. Since 1987 he has managed 70 partnerships and
joint ventures in a portfolio valued at more than $600 million,
and land acquisitions and sales topping $200 million.
His course won rave reviews from students as Kolokotronis
shared his wisdom while tapping his network of influential
decision makers to talk about California’s growth-management
issues and progressive developments. His guest speakers includ-
ed other high-profile developers, environmental activists, senior
government and elected officials, land-use attorneys, financiers
and affordable housing advocates.
Being active and engaged in the community is a way of life for
Kolokotronis. He is involved in many civic, cultural, political and
philanthropic organizations. Last year he was honored with one
of Comstock’s Business Magazine’s John P. Carlson Vanguard
Awards, which recognize corporate citizens who enhance the
Sacramento region’s quality of life. His firm, SKK
Developments, earned the Sacramento Area Council of
Governments’ 2005 Regional Business of the Year Award.
As the featured speaker at the GSM’s Business Partner
breakfast on May 9, Kolokotronis offered his perspec-
tive of Sacramento’s future, which he said is tied to
creating “attractive places to live, work, shop and play.”
Kolokotronis said the complexities of smart growth
projects present many challenges for local developers.
“It’s going to take some time in our market to put together teams
of architects, planners, building officials and financiers to do a
better job of bringing these developments along faster and in
more efficient ways,” he explained.
Kolokotronis stressed the critical role infill projects play in
meeting the urgent need for good-quality, affordable housing
for lower income families and disabled people.
He said the common denominator in cities where progressive
development thrives has been collaborative planning that brings
the public and private sectors together as partners rather than
as adversaries.
Kolokotronis praised the work of Sacramento area political
and business leaders who are mapping a blueprint for regional
transportation and land use, and crafting a business plan that
leverages the region’s unique strengths.
Yet Kolokotronis said there’s a much bigger picture to consider.
He said Sacramento is the epicenter of a “Northern California
super region,” which taken together with San Francisco represents
the nation’s third largest metropolitan statistical area, with
more than 10 million people and a gross regional product
above a half trillion dollars.
“We need to look at it as a larger, linked community that spans
from the Pacific to the Sierras and up and down the Valley,” he
said. “It’s the key to our future growth.”
“We are the wealthiest society in the world and we have an obligation to provide housing for all of our people . We need to come up with smart ways to do that, including using the existing infrastructure .”—sacramento developer sotiris Kolokotronis, 2006 executive-in-residence
Leadership that Works
UC Davis GraDUate sChool of ManaGeMent • 11UC Davis GraDUate sChool of ManaGeMent • 11
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thirD annUal Peer-to-Pier event offers insiGht
Leadership that Works
Daytime MBA student
Aimee Waldman
learns more from
panelist David Petroni
about his expertise in
mergers and acquisitions
as well as his hobby of
drawing cartoons .
How important is creativity
in empowering leadership?
Alumna Jennifer Vogt ’03
continues the discussion with
Pixar University’s Randy
Nelson . Vogt is a senior internal
auditor at Hewlett-Packard .
Panelist David Petroni
(front) explains that a
leader’s skills, knowledge,
experience and personality
must match the particular
needs of a company at a
specific time in its history .
Panelist Grove Nichols,
executive vice president of
IndyMac Bank, trades
ideas over wine with Bay
Area MBA students Regis
Geisler (left) and Ben
Dakhlia (right) .
Nancy Barrett of Standard
& Poor’s Investment Services
shares how her persistence in
convincing top leadership of
the value of an innovative
new product finally paid off .
You’ve got a car filled with people. The person in the driver’s
seat has their left foot on the brake. The person next to them
has their right foot on the accelerator. A third person reaches
their arms from the back seat, around the “driver,” and attempts
to steer. From the back right seat, a fourth person randomly yells
directions. Catastrophe, right?
Want to make it worse? Add a fifth person, a “leader,” to supervise
the four in the car from a remote location and tell them exactly
what to do.
Randy Nelson, dean of Pixar University, the creative learning center
for Disney’s Pixar Animation Studios, used this story of the “spider
car” to illustrate the pitfalls of traditional leadership. He spoke at the
Graduate School of Management’s third annual Peer-to-Pier network-
ing event, held March 9 at San Francisco’s Waterfront Restaurant.
Nelson joined Nancy Barrett, vice president of development at
Standard & Poor’s Investment Services; David Petroni, vice president
of corporate development at Valchemy, Inc.; and Grove Nichols,
executive vice president of IndyMac Bank, for a spirited
discussion of leadership in practice. Their stories were punctuated
by an unusually strong thunderstorm that swept the bay.
As Dean Nicole Woolsey Biggart commented in her opening
remarks, “There are many definitions of leadership, and the char-
acteristics of a good leader are as varied as our gathering tonight.”
Barrett described the perseverance and persistence she
needed to take her idea for an innovative new product from
her immediate boss all the way to the top—McGraw-Hill’s
board of directors. Petroni spoke of PeopleSoft’s $1.8 billion
acquisition of J.D. Edwards & Co., and Oracle’s subsequent hostile
takeover of PeopleSoft. Petroni also emphasized the need for
leadership to match the demands of a specific time, place and
corporate culture. Nichols’ comprehensive checklist of leadership
attributes included intensity and drive, a passion for details,
intolerance of bureaucracy, accountability, candor, the
“willingness to be unreasonable”—and compassion.
Following the formal presentation, the industry insiders
continued the conversation at a reception of more than
200 GSM students, alumni and faculty, as well as
recruiters and other business leaders.
“Companies and organizations are facing an increasingly
challenging environment, and no one leadership style will
work across the board,” noted Biggart. “Our panelists
shared different types of leadership challenges, but they
all emphasized the role of conviction and persistence in
meeting those challenges. It’s an important message.”
12 • sPrinG / sUMMer 2006
starsat annual gala
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U C Davis’ magnificent Mondavi Center was the setting for
the Graduate School of Management’s annual Celebration
of Stars Gala, held in early December . More than 200
students, alumni, faculty, staff, Dean’s Advisory Council members
and Business Partners gathered for an evening of friendship and
dancing—and to honor outstanding students and alumni .
The School’s 33 newest members of the international honor society
Beta Gamma Sigma were recognized for their academic achievements
and future leadership promise . The society is open to MBA students
enrolled in programs accredited by the Association to Advance
Collegiate Schools of Business International . Only those in the top
20 percent of their class are eligible . Membership in the society is
the highest national recognition an MBA student can receive .
Also honored were the recipients of the GSM Alumni Association’s
Distinguished Achievement and Outstanding Service awards . This
year members of the School’s charter class and charter Working
Professional class were honored .
For the second year, students, faculty and staff were invited to
make nominations for the Alumni Association’s Student Fellowship
Awards, given to those who exemplify the core values of passionate
and energetic leadership, community building and service to the
School . The selected students, one from the Daytime MBA program
and one from the Working Professional MBA program, each
received an award of $800 .
The Celebration of Stars Gala recognized these outstanding
UC Davis MBA students, who are among the School’s 33 newest
members of the international honor society Beta Gamma Sigma .
a l U M n i D i s t i n G U i s h e D a C h i e v e M e n t aWa r D
roBison’s Creativity + savvy = sUCCess
Eric Robison’s
eclectic resume
reflects a career
that has, from the start,
allowed him to blend
the logical left side
of his brain with the
creative right. It’s taken
him to major ad agen-
cies McCann-Erickson
and Doyle Dane
Bernback and includes
an eight-year stint with
Vulcan, Inc., where
he managed and advised numerous technology and
entertainment initiatives.
Robison, a member of the School’s charter class
that graduated in 1983, has also produced six films,
including the critically and commercially acclaimed
Far From Heaven, starring Julianne Moore and
Dennis Quaid. A professional sax player, in 2003
he backed Paul McCartney, Annie Lennox and others
at a Buckingham Palace concert marking Queen
Elizabeth’s Silver Jubilee. His board memberships
include long-term seats at media giants CNET
Networks and Cumulus Media.
Since 2002 Robison’s creative juices and business
acumen have been put to service at IdeaTrek, Inc., a
solo shop that provides high-level strategic consulting
to diverse clients in the technology, media, consumer
goods and restaurant industries. The majority are
healthy, profitable companies proactively planning
their next stage. Robison describes his job as taking his
clients on a trek, or journey, to a place where they can
problem solve in new and fertile ways. “Oftentimes a
company has a lot of opportunities,” he says. “I help
them determine which of these to pursue and what
resources they’ll need to realize them.”
eriC roBison ‘8�
UC Davis GraDUate sChool of ManaGeMent • 1�
sCott sCaraMastro ‘��
a l U M n i D i s t i n G U i s h e D a C h i e v e M e n t aWa r D
sCaraMastro rePays With interest
Scott Scaramastro began giving
back to the Graduate School
of Management shortly after
graduating in 1997. “My experience as
a member of the Working Professional
MBA program’s charter class was won-
derful,” he recalls. “It was new to all
of us—students, faculty and staff—
and learning together helped cement
a real feeling of collegiality.
“I entered the program knowing I
wanted to move into a role that blended
finance and technology. After gradua-
tion I got a job as a finance analyst at Hewlett-Packard
through a classmate’s referral. I’m very happy to repay
some of the great value I have gotten from my degree.”
In 1998 Scaramastro began working with the School’s
Career Center, and served as H-P’s and then Agilent
Technologies’ recruiting lead at the GSM from 1998 to
2004. In 1999 he transferred to Agilent, where he is
currently the electronic design automation program
manager. He continues to serve on the recruiting team
in a support role.
“We certainly get a big bang for the buck from Scott
as an alumnus,” says Career Center Director Kathy
Klenzendorf, citing his participation in mock and
real interviews, career fairs and orientation panel
discussions. Over the past five years Scaramastro has
helped facilitate 32 career and internship hires at H-P
and 10 at Agilent, despite the downturn following the
2001 dot-com bust. His efforts helped make the GSM
one of Agilent’s nine U.S. “national schools”—those
the company commits to with graduate hiring quotas
and other support.
Running a virtual company, Robison finds, gives him
the freedom to take on the projects he is most inter-
ested in doing—and to engage other consultants as
needed, whether it’s a technology expert, a human
resources guru or a lawyer.
“My favorite projects are always my current projects,”
he says. Some of the most intriguing involve the inter-
section of creativity and technology. “The Internet
continues to give us new ways to reach audiences—
and it will expand in ways that we cannot even con-
ceive of right now. This fluidity and the opportunities
it creates fascinate me.”
Despite a dizzyingly hectic schedule, Robison
continues to be a resource to the Graduate School
of Management. In 2004, as a Dean’s Distinguished
Speaker, he gave a provoking talk on creative discipline
that drew on his diverse experiences in business, film
and music to illustrate how real problem solving
begins when managers get out of the box, escape the
endless noise of multitasking and truly focus.
As a new member of the Dean’s Advisory Council,
Robison joins 37 other top California business leaders
in sharing ideas and advice on everything from student
projects to the School’s future development.
“Nicole and the other professors helped me navigate
where I was taking my career. I’ll never forget their
help, or that of the other students,” he continues.
“I was a sax player with an undergraduate degree in
communication studies and very little background
in business. They helped me figure it all out.”
a l U M n i o U t s ta n D i n G
s e r v i C e a W a r D
(Continued on page 14)
“nicole Biggart was one of my professors
more than 20 years ago,” he remembers.
“She is now the dean, and that in itself
is a great reason to be involved
with the School.
14 • spring / summer 2006
starsat annual gala
(Continued from page 13)
“Doing the mock interviews with first-year students
is very rewarding,” Scaramastro says. “I get some early
insights into people who might interest Agilent in a
couple years down the road when they graduate. On
a personal level, I just enjoy talking to the students.
They have such interesting, diverse backgrounds
and experiences.”
Scaramastro has been a resource to the School’s
faculty as well. “Each Production and Operations
Management class visits a factory,” explains Professor
David Woodruff. “Scott organized a visit to Agilent’s
Santa Rosa plant that included some great presenta-
tions by their planners and schedulers and a terrific
tour. But most memorable for me and the students
was that Scott had contacted many other GSM alums
who work at Agilent. Hearing their perspectives greatly
enhanced the visit and reminded us that the GSM
really is an extended community.”
As co-vice president of operations on the GSM’s
Alumni Association board from 1999 to 2002,
Scaramastro contributed his financial management
expertise by formalizing the board’s budgeting process.
He also initiated the popular quarterly GSM socials at
local watering holes. “Between work and family, there
often isn’t much time for anything else. These are a
great way to get back in touch with classmates and
meet some new people,” he says.
Most recently, he helped facilitate Agilent CEO and
UC Davis alumnus William Sullivan’s return to campus,
first as a participant in the Dean’s Distinguished
Speaker Series last October and then as this year’s
GSM commencement keynote speaker.
“I was pleased but surprised to receive the Alumni
Association’s award,” Scaramastro says. “You lose track
of what you’ve done as time slips away. I’m glad to see
that I’m joining Joy Dalauidao-Hermsen as a recipient
of this award, as I’ve worked closely with her over the
years and have always been really impressed by her. I
look forward to continuing my relationship with the
School and helping to maintain the caliber of the
program in whatever manner I can.”
s t u d e n t f e l l o w s h i p a w a r d
it’s all about the triple bottom line
Peers describe
Kyle Salyer
as a man of
deep convictions, a
strong advocate for
the critical role that
business can play
in creating positive
social change.
In the summer of
1997, following his
first year of college,
Salyer participated in a church-sponsored trip to a
small village in Guatemala, where he spent 10 days
helping build a new home for a destitute woman.
“That part of the country had been heavily affected
by the guerilla war, and my experience there opened
my eyes,” he remembers.
Fast forward to 2005, and Salyer and student Julie
Obbard have joined forces to propose a new elective
in social entrepreneurship at the Graduate School of
Management. Their careful research convinced Dean
Nicole Woolsey Biggart that the course was both aca-
demically solid and consistent with offerings at other
top business schools. Taught by alumnus Cleveland
Justis ‘05, who is executive director of the Headlands
Institute, the course was offered for the second time
this year.
Salyer’s quiet but effective leadership—characterized
by integrity and a growing awareness of the importance
of delegating—is evident in his work with the School’s
Net Impact chapter, as a presenter at the Global Social
Venture Competition, and as co-chair of the School’s
Community Consulting Group. As student Daniel Lee
comments, “While there are many I’ve heard talk the
talk, Kyle is one of the few who truly walks the walk.
He’s the model for being a global citizen.”
kyle salyer
“A lot of people think of ‘doing good’
as giving money or donating time at a
soup kitchen. This course exposes them
to the many models for using business to
create social change outside of the
traditional non-profit world,” Salyer notes.
s t u d e n t f e l l o w s h i p a w a r d
charles madison
uc davis graduate school of management • 15
s t u d e n t f e l l o w s h i p a w a r d
madison harnesses the
power of community
It had been a decade since he earned
his bachelor’s degree at UC Davis
when Charles Madison returned to
his alma mater in 2003. Behind him
were several demanding jobs in the
energy industry; before him, a passion
for new challenges that would test his
project management skills.
He joined UC Davis’ Utilities
Department as an energy engineer, and
a year later entered the Graduate School of Management’s
Working Professional MBA program in Sacramento. “I
thought I would focus on quantitative analysis and
management science,” he says. “Instead, I found myself
more attracted to developing my soft skills and my
understanding of organizational behavior.”
Madison’s academic interests soon found application not
only on the job but also in his efforts to foster community
at the School.
Like most working students, Madison knows well the
limitations of the 24-hour day—which seems even shorter
since the birth of his daughter, Grace, in January. But he
believes that out-of-class time with others in the program
both enriches the MBA experience and builds a network
of friends and professional colleagues that will last a life-
time. Through the Student Council, he helped organize
the School’s first-ever Komen Race for the Cure team, and
brought baseball fans together for a River Cats game one
hot August afternoon.
His circle includes an unusually large number
of first-year students, due at least in part to his
role in the School’s recruiting efforts. He is a
frequent speaker at MBA admissions events
and regularly meets with potential students to
share his insight and experiences. “This year,”
he says, “we’re taking it a few steps further by
maintaining our connection with prospective
students—for instance, by having them shadow
us and visit one of our classes.”
As the Working Professional Student Council’s
liaison to the GSM Alumni Association,
Madison attends the association’s board meetings. He is
committed to building bridges between current students
and alumni, for instance by helping grow the existing
mentor program and encouraging informal get-togethers
and other opportunities.
“Building connections is what it’s
all about,” Madison says.
One interesting collaboration opportunity grew out
of a chance conversation two years ago with UC Davis
grounds manager Sal Genito about Genito’s idea to craft
olive oil from the messy fruits of the campus’ 2,000-plus
olive trees. Madison brought word of the venture back to
his marketing class—and returned to Genito a few weeks
later with a branding and marketing plan. Today, Genito
can’t keep the distinctive UC Davis olive oil on the shelf.
That’s the power of community.
More than 200 people gathered for the Graduate School of
Management’s Celebration of Stars Gala at UC Davis Mondavi Center.
And Salyer believes it is a model many will follow.
“Groups like Net Impact are successful because they tap
into people’s core desire to do good. It’s very powerful
when people realize they can create change within compa-
nies, whether they are interested in corporate social
responsibility, environmental issues, or community or
international development.”
After graduation Salyer will become senior vice president
for operations at MicroCredit Enterprises, where he
worked on a pro bono basis throughout his two years at
the GSM. An anti-poverty, social venture, MicroCredit
Enterprises provides loans to microfinance institutions that
serve poor entrepreneurs in Latin America, Asia and Africa.
16 • sPrinG / sUMMer 2006
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Members of the GSM’s Net Impact chapter gather at
the 13th annual Net Impact National Conference at
Stanford University in November . (Front row, left to right): Geoff Jennings, Cody Carroll,
Kurt Olmstead . (Middle row, left to right): Josaphine Tuchel, Kristie Korneluk,
Thomas Nelson, Craig Cummins, Andrea Schafer, Jonathon Anderson,
Steven Song, Kyle Salyer . (Back row, left to right): Aaron Burda, Sara Happe,
Shalini Sahdeo, Kevin DeLury, Aimee Waldman, Paige Marino, Brian Hoblit .
Making an Even Greater “Net Impact”stUDents eMBraCe soCial anD environMental resPonsiBility
“Be the change you want to see in the world .”
—net impact Conference keynote speaker al Gore,
quoting Gandhi
“The conference was a great chance to meet like-
minded business students and learn more about how
others are incorporating social and environmental
concerns into solid, profitable businesses,” said GSM
Net Impact co-president and first-year MBA student
Geoff Jennings, one of 29 GSM students who attended.
innovative BoarD felloWs ProGraM
This spring the School’s chapter launched the Board
Fellows program, a leadership service initiative that
places students as ex officio members on regional
non-profit boards for a year. UC Davis is one of
three chapters piloting this innovative program
as a hands-on approach to cultivate
students’ leadership skills and serve
the community. The charter class
includes Michael Alcheck, who
will work with the Family
Services Agency of Marin; Dana
Progar, who will work with the
Sacramento Entrepreneurship
Academy; and Josa Tuchel, who
will volunteer with the Yolo
Community Foundation.
neW Green BaG seMinar series
The year was also marked by the debut of a Green
Bag lunch speaker series. The events offer students
insights into issues and careers in various sectors
of business social responsibility, and give them the
opportunity to network with and tap into the “green”
resources and expertise at UC Davis.
Speakers have included Professor Brad Barber, who
discussed the School’s new Center for Investor Welfare
and Corporate Responsibility. UC Davis’ chief architect,
Bill Starr, spoke about the campus’ implementation
of environmentally friendly, LEEDS-certified buildings.
Josh Dorf, CEO of JOG Distribution, spoke about the
sales and marketing of natural and organic foods.
And UC Davis geology researcher Sara Null joined
with Sacramento Bee journalist Tom Philp in a discussion
on the feasibility and impacts of draining California’s
Hetch Hetchy Reservoir. Philp won a Pulitzer Prize for
editorial writing that called for undamming and
restoring the once-spectacular Hetch Hetchy Valley.
Does UC Davis have the greenest and most
socially responsible MBA program in the
country? By one measure, the answer is
yes. For the past four years the Graduate School of
Management’s Net Impact chapter—one of more than
100 student and professional chapters around the
world—has had the highest per capita attendance
at the organization’s annual conference.
At the 13th annual Net Impact Conference held last
November at Stanford University’s Graduate School
of Business, keynote speaker Al Gore quoted Gandhi,
urging the 1,300 MBA students and entrepre-
neurs in attendance to “Be the change you
want to see in the world.” The event’s
theme, Bridging the Gap—Leading
Social Innovation Across Sectors,
recognized that business today
knows no bounds, and neither
should creating social value.
UC Davis GraDUate sChool of ManaGeMent • 1�
Doing Good Never Felt So Great GSM Team Makes Finals of Global Citizenship Challenge
A team of four UC Davis MBA students was among six finalists in this year’s Global Citizenship Challenge, the largest international case com-petition focusing on corporate citizenship, sustainability and development.
Fifty-six teams from more than 15 countries participated in the first round of the 2006 competition, held online in February. Sponsored by Merck, the X-Prize Foundation and Net Impact, the challenge is hosted by the Net Impact chapter at Thunderbird, The Garvin School of International Management.
The GSM team of Roger Lee, Dakota Coe and Andrea Schafer—minus Kevin DeLury, who was on an international study trip—traveled to Thunderbird for the finals during the last weekend in March. They joined students from Thunderbird, the University of Virginia, the Instituto de Empresa (Madrid, Spain), George Washington University and the University of North Carolina in vying for the $5,000 first prize, half of which was donated to charity.
Upon arrival, the teams commenced a 12-hour marathon to prepare their solutions to a common challenge: to help the pharmaceutical industry achieve the United Nations’ Millennium Development Goals through better public-private sector partnerships. The goals—which range from halving extreme poverty to halting the spread of HIV/AIDS and ensuring universal primary education—were approved by the U.N.’s member nations in September 2000 and have a target implementation date of 2015.
The next morning, Coe said the GSM team delivered “a lively 20-minute presentation, followed by 10 minutes of Q&A. The other teams were also superb, and I learned more about presenting from watching them than I ever have before.”
The judges praised the teams for the innovative thinking and careful analy-sis behind their presentations. “All of you prioritized a challenge to extend the frontiers of corporate social sustainability at a time when you were saddled with coursework, exams and a hunt for jobs and summer intern-ships,” contest organizers told the teams.
“It was a wonderful experience,” said Schafer. “The competition offered a great way to share ideas on how we are going to address the corporate responsibility issues that face us in today’s business world.”
UC Davis MBA students
Andrea Schafer, Roger Lee and Dakota Coe share
a moment at Thunderbird, The Garvin School of
International Management in Glendale, Ariz ., where
they were one of six finalist teams to compete in the
Global Citizenship Challenge .
www.davisnetimpact.org
on-site: soCially resPonsiBle BUsinesses
Last fall Net Impact members paid a visit to Roseville-
based PRIDE Industries, a leading provider of business
outsourcing solutions and the country’s largest employer
of people with disabilities. The group toured the facility
and met with senior executives, including company
president Michael Ziegler.
Second-year MBA student Kyle Salyer came away
impressed with PRIDE’s operations and ideals. “It is a
tremendous enterprise in the heart of the Sacramento
community,” he said. “They are fulfilling an important
social mission while operating a self-sufficient business
with nearly $100 million in annual revenue.”
In February the UC Davis chapter joined with MBA
students from UC Berkeley, UCLA and the University
of San Francisco for a career day organized by alumnus
Cleveland Justis ’04. Justis, who is director of the
Headlands Institute and teaches a course on social
entrepreneurship at the GSM, was recently appointed
to the board of the national Net Impact organization,
headquartered in San Francisco.
The tour featured visits to a variety of businesses in
the San Francisco Bay Area, including Clif Bar, Cisco,
Baycat, California Environmental Associates and
Genentech. The style of the visits varied widely, ranging
from a formal PowerPoint presentation to an intimate
chat with executives. Students had a chance to ask
insightful questions about corporate social responsibility
and business in general.
In addition to its other activities, the Net Impact
chapter has been working with Professor Barber to
create and manage a socially responsible mutual
fund that will be offered as a course in the upcoming
academic year.
The chapter is looking to expand its membership and
making an even greater “net impact” on our School
and local community.
Making an Even Greater “Net Impact”stUDents eMBraCe soCial anD environMental resPonsiBility
18 • sPrinG / sUMMer 2006
In the spirit of philanthropy, second-year
UC Davis MBA student Eric Olson spikes
over a Stanford peer during a volleyball
game at the MBA Challenge for Charity
weekend sports competition in April.
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C4C volunteer events included a Special Olympics
bowling competition and the first annual College
Career Day at the GSM for 10 high school students
who are members of the Boys and Girls Clubs. In
addition, GSM students volunteered at the Peja &
Vlade Charitabowl, an annual benefit for the Peja
Stojakovic Children’s Foundation, the Boys and
Girls Clubs of Greater Sacramento and Group Seven
Children’s Foundation that is sponsored by the former
Sacramento Kings stars.
Over the course of the academic year, GSM students
volunteered 694 hours, or 6.6 hours per student.
Three students—Andrea Schafer, Chris Ferreira and
Jason Cohen—each donated more than 40 hours.
The chapter’s fundraising efforts included a ski trip
to Lake Tahoe, a chili cook-off and the annual Wine
Tasting Benefit. Under the leadership of incoming C4C
co-chairs Andrea Schafer and Kevin DeLury, the wine
tasting drew a big turnout of alumni, business leaders,
students, and GSM faculty and staff. In all, the
chapter’s events netted $21,000—a $1,000 increase
over last year.
T hree years after UC Davis Graduate School
of Management students first opened their
hearts and their wallets to benefit children
and disabled athletes, the School’s chapter of MBA
Challenge for Charity (C4C) can proudly point to its
most successful year yet.
MBA Challenge for Charity is the nation’s largest
charitable business school organization. Each year,
eight top West Coast business schools compete in
volunteering, fundraising and a weekend of sports
and trivia competitions.
The schools’ combined efforts benefit the Special
Olympics and a second, local charity—in the Graduate
School of Management’s case, the Helvetica Branch of
the Boys and Girls Clubs of Sacramento. “With greater
involvement from both first- and second-year stu-
dents, we had a strong core group of volunteer coor-
dinators, and this year our relationship with the Boys
and Girls Clubs blossomed,” said Chris Ferreira, vice
president of planning and activities for the UC Davis
C4C chapter.
Never Too Much Time or Money: MBa ChallenGe for Charity
ContinUes to thrive
UC Davis GraDUate sChool of ManaGeMent • 1�
“The MBA students help us
positively affect the lives of
our members, not only by their
financial contribution but also
by lending their time and
dedication to our clubs .
We are truly grateful for our
relationship with UC Davis .”
— Kyle Chase, office Manager,
Boys and Girls Clubs of
Greater sacramento
This amount increased by almost 50 percent when the
Teichert Foundation matched the C4C chapter’s $10,000
donation to the Boys and Girls Clubs last October.
“Teichert’s matching gift program allows us to maxi-
mize the donations of charitable organizations, such
as the very generous gift received from the UC Davis
Graduate School of Management,” said Kyle Chase,
office manager of the Boys and Girls Clubs of
Greater Sacramento. “The MBA students help us
positively affect the lives of our members, not only by
their financial contribution but also by lending their
time and dedication to our clubs. We are truly grateful
for our relationship with UC Davis.”
In late April more than half of the School’s full-time
MBA students traveled to Stanford University for the
year’s final C4C effort: a weekend of events ranging
from soccer matches to an ultimate Frisbee tournament.
It was an opportunity for GSM students to demonstrate
their flair for teamwork while networking with students
from Stanford, UC Berkeley, USC, UCLA, the University
of Washington, UC Irvine and Pepperdine.
And when the last competition was over and final tallies
were made, the GSM’s C4C chapter placed second in
donations and third in volunteer hours. Placing sixth
in the sports competitions, the GSM chapter finished
a respectable third overall. Together, the eight schools
raised $442,698 and donated 11,876 volunteer hours.
“Over the past three years, involvement in the club has
skyrocketed as GSM students demonstrate their com-
mitment to helping improve the lives of others in our
community,” Ferreira said. “C4C offers an easy and
fun way for us to make a real difference.”
A game of wit and skill: second-year UC Davis
MBA student John Broome keeps the Frisbee
out of the hands of a defender from UCLA’s
Anderson School.
Volunteering at a bowling tournament, Jarrett
Shawber gives a spirited high five to a Special
Olympics athlete.
The Graduate School of Management’s 2005–2006 MBA
Challenge for Charity chapter co-chairs Jarrett Shawber (left)
and David Hatton (middle) present the Special Olympics of
Northern California with a $10,000 donation in December.
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20 • sPrinG / sUMMer 2006
was slated to open on May 31 in San Ramon—not
far from the San Ramon Valley Conference Center,
the home of the Bay Area MBA program. Hodder
said she’s already signing up her classmates and their
friends as Ensembles customers.
Visitors to Ensembles will be able to create eight to 14
healthy, ready-to-cook meals that are personalized to
their family’s tastes. Hodder said customers can save
hours of shopping, preparation and clean-up time.
Hodder said the advice and feedback from mentors
and judges and the network of contacts they have plugged
into through the competition have been invaluable.
“The Big Bang! experience has helped us to think big
and move beyond our first store,” said Hodder. “It’s
pushed us out of our initial go-to-market bubble and
made us think beyond our first few milestones.”
With technology born out of UC Davis research labs,
Mesolytics hopes to give health care professionals a
portable tool to quickly diagnose infectious diseases
using a swab of a patient’s saliva or a drop of blood.
The biomedical venture’s platform is based on
nanowires that hold antibodies proven to detect a
single virus with laboratory sensitivity. Based on a
disposable razor-and-blade model, the device’s inter-
changeable test cartridges will target influenza, including
the avian flu subtype. Future applications include
other respiratory ailments, HIV and common sexually
transmitted diseases, and biosecurity hazards such as
exposure to anthrax and plague. The team hopes to
set up its manufacturing in West Sacramento.
GSM alumnus Farley Stewart ’05 teamed up with
Mesolytics’ lead researchers Zane Starkewolfe and
Dan Masiel, both UC Davis graduate students in
chemistry. Stewart then brought on board Kara
Schmelzer, who has a Ph.D. in pharmacology.
Two start-ups aiming to fill a niche for conve-
nience, speed and efficiency in their markets—
a retail outlet that helps busy families prepare
nutritious, home-cooked meals and a biomedical ven-
ture that is developing a handheld device to instantly
diagnose infections—each won $10,000 in this year’s
UC Davis Business Plan Competition.
Ensembles LLC of San Ramon and Mesolytics of Davis
shared the first place award and prize money in the
sixth annual Big Bang! Business Plan Competition,
organized by MBA students of the Graduate School of
Management to promote entrepreneurship, innova-
tion and hands-on learning. The winners were
announced at an awards ceremony on May 17.
Ensembles, the meal
service, was cooked up by
Juliet Hodder, a student
in the UC Davis Bay Area
MBA program, and her
co-owners Leslie Leach, a
former brand manager for
The Clorox Co., and exec-
utive chef Ann-Marie
Ramo. Their first store
ensembles and mesolytics share Winners circle
GSM alumnus Farley Stewart ’05 explains
Mesolytics’ designs for a portable device based
on UC Davis nanotechnology research. The
device will give health care professionals the
ability to instantly and accurately diagnose
viral infections using a swab of a patient’s
saliva or a drop of blood. The biomedical
venture shared the winners circle in the Big
Bang! and will invest the $10,000 in winnings
to advance their proof of concept in the lab.
Stewart and Schmelzer met this past year when she
participated in the GSM’s Business Development
Certificate program for campus scientists.
“We were able to bring together physics, chemistry
and bioelectrical engineering, plus the management
capability, all to form a team. This would not have
been possible without the UC Davis Little Bang and
Big Bang! competitions,” said Farley Stewart. “It’s
a great example of campus researchers and MBA
students coming together in a powerful way that has
the potential to commercialize technology here in
the Sacramento area.”
MBA student Pramod Parihar, chair of the competi-
tion, called the quality of the business plans “superb.”
“The connections that have been made are a testament
to the goal of the Big Bang!,” Parihar said. “Many of
the teams represent partnerships between Graduate
School of Management students and alumni and
world-class UC Davis scientists and researchers.”
The MBA students launched the competition in
October, offering a series of events and workshops
ranging from protecting intellectual property and
business plan writing to financial planning and
marketing. More than 50 firms provided financial
sponsorship or their representatives led workshops,
groomed teams or judged the competition. It culmi-
nated on May 17 when a panel of eight judges,
including veteran venture capitalists, angel investors,
innovation experts and intellectual property attorneys,
selected the two winners to split the first and second
place prize money, giving each $10,000.
(Continued on page 22)
UC Davis GraDUate sChool of ManaGeMent • 21
little Bang— the spaRK oF something Big
opening more doors of opportunity, MBA student organizers
of the Big Bang! Business Plan Competition for the second
consecutive year coordinated with UC Davis ConnECT
Business Development, a campus program
that supports the commercialization of UC
Davis technologies, to hold a series of five
“Little Bang” poster competitions to encourage
more graduate and post-doctoral students to
explore the market potential for their research.
Held in February, the Little Bang contests
drew more than 20 teams that participated in
five sectors: clean energy and environmental
sciences, computational science and information
technology, foods for health and wellness,
medical and biotechnology innovations, and
nanotechnology.
Each winning team received $3,000. The winners
and runners-up of each Little Bang earned a
berth as a semi-finalist in the Big Bang!
Four of the six finalists teams in the Big Bang!
this year—including Mesolytics, which tied
for first—followed the path from the Little
Bang. The three other finalists were nova
Chemicals, IDA Technologies and Soyum!
All of the teams involved Graduate School
of Management MBA students or alumni
partnering with the researchers.
“We are delighted with this year’s Little Bang
competitors who made it all the way through
the Big Bang!,” said Meg Arnold, director of
UC Davis ConnECT Business Development.
“The teams’ successes are a direct result of
their commitment, creativity and hard work
throughout the year.”
22 • sPrinG / sUMMer 2006
At the Big Bang! Final Awards event, UC Davis
Bay Area MBA student Juliet Hodder and her
business partner Leslie Leach present the business
plan for Ensembles, a ready-to-cook meal service
that plans to open its first store in San Ramon,
Calif. in late May. Hodder said the $10,000
first prize will be a big help as they plan future
store locations.
22 • sPrinG / sUMMer 2006
“There was a nice spread of different types of finalists—
consumer product, food sciences, electronic design
automation, biomedical and nanotechnology—which
shows a much broader engagement with the university’s
technology community,” said Harry Laswell, general
partner of American River Ventures in Roseville.
Laswell, who had judged the first three competitions,
said he has seen a significant improvement in the
quality of the business plans and the preparation of
the presenters.
“For the first time, we have a field of teams in the Big
Bang! that are going to get funded—some may be
funded by angel investors, maybe one or two will
actually be venture capital-funded,” said judge Scott
Lenet, managing director of venture capital firm DFJ
Frontier in West Sacramento. “It speaks well to what is
happening at UC Davis.
“In particular, Ensembles has shown that without a lot
of resources they’ve been able to make great progress
and demonstrate their commitment to doing this with
their own money. They’re real entrepreneurs,” he added.
“Mesosyltics is based on core UC Davis science that is
hard to duplicate,” said Lenet. “It’s really interesting
technology that could fill a real need in the point-of-
care market.”
SmartMomsCircle of Sacramento won the People’s
Choice award and $2,000 as the audience’s favorite at
the awards event. The team plans to build an online
community for stay-at-home parents who want to
keep up with their careers, stay networked and take on
gsm team maKes Final eight in Jungle Business plan challenge
a team with two UC Davis MBA students that was a finalist in the
Big Bang! also advanced to the final eight in Jungle Media Group’s
2006 Business Plan Challenge, a prestigious international competition
that drew nearly 200 entrants from across the country and from as
far away as Israel, India and Pakistan.
Innovative Design Automation (IDA) Technologies is working on new
software for improving the design of microchips. IDA’s team includes
Jorge Campos, a UC Davis doctoral student in electrical engineering
who is also a participant in the GSM’s Business Development
Certificate program; MBA students Brian Hoblit and Ben Mok; and
Matthew Caldwell, a graduate student researcher in the Institute of
Transportation Studies. The software aims to use random changes
and selection to reduce semiconductor chip development time and
costs by up to 30 percent.
IDA joined 24 semi-finalist teams
(including another team of GSM
students behind Fantasy Sports Gaming
network) at Fenwick & West’s Silicon
valley law offices on April 28 to present
their business plans to a panel of judges
comprising leading venture capitalists,
entrepreneurs and attorneys.
At the grueling one-day pitch off, IDA
made the cut to the final eight. The
winner of the sixth annual competition
was SunPhocus Technologies of the University of Chicago, which took
home $35,000 in cash and legal services from Fenwick & West and
other in-kind prizes.
UC Davis MBA student Brian Hoblit said IDA has inked an agreement
to start beta testing their software later this year. “We have a great
idea, but we need funding to put together a bigger team that will
actually be able to bring it to fruition,” he said.
“The IDA team has made tremendous progress in a very short time,”
said Jim Schraith, an active angel investor in the Sacramento region
who is advising IDA and is managing partner of the El Dorado Hills
Technology Incubator. “To make it as far as they did in a large com-
petition such as this is a great indication of how well they will be
received by the professional investment community.”
“We have a great idea,
but we need funding
to put together a bigger
team that will actually
be able to bring it
to fruition .”
—UC Davis MBa student
Brian hoblit
UC Davis GraDUate sChool of ManaGeMent • 2�GraDUate sChool of ManaGeMent • 2�
At the Big Bang! Finals in
May, Jim and Georgia Corbett
announce their intent for
their student fellowship for
entrepreneurs to be awarded
to students who are involved
with the business plan
competition.project-based work. The circle of entrepreneurs includes UC
Davis alumni Rose Elley, Elena Naderi and Alexander Vanderbilt;
UC Davis economics student Jason Montgomery; and Laura
Iriarte and Garrett Wilson.
The three other Big Bang! finalists were:
• SOYum!, which is manufacturing a soy powder substitute
for eggs and milk that could be used to produce healthier
food that is lower in cholesterol and saturated fats, and by
people who are allergic to eggs or diary products. The team
members are MBA student Mark Gannon, and Brad Olsen,
Laura Pallas and Marco Garcia, all graduate students in the
UC Davis Department of Food Science and Technology.
• Nova Chemicals, which aims to develop and sell new types
of materials for packaging microelectronic circuit boards.
The new materials have better physical properties and are
more reliable than current products on the market, and could
reduce packing time by almost 50 percent.
Dakota Coe, a joint MBA/JD student,
teamed up with two Ph.D. researchers,
Frank Shi and Beth Schneggenburger.
• Innovative Design Automation, which is
working on new software for improving
the design of microchips. Jorge Campos,
a UC Davis doctoral student in electrical
engineering who is also a participant in the
GSM’s Business Development Certificate
program, teamed up with MBA students
Brian Hoblit and Ben Mok. Taking a lead
from evolutionary biology, their product
aims to use random changes and selection
to reduce semiconductor chip development
time and costs by up to 30 percent.
“The Big Bang! continues to expand expo-
nentially,” said Dean Nicole Woolsey Biggart.
“The competition plays a major role in
spreading the entrepreneurial spirit across
the UC Davis campus and offers a proving
ground for some of the university’s most
promising technology and start-up ideas.
It’s all about education, inspiration and
making a difference.”
http://bigbang.gsm.ucdavis.edu
thank you!2006 Big Bang! Business Plan Competition sponsors
platinum
Dla Piper rudnick Gray Cary
gold
UC Davis Medical Center
DfJ frontier
arête therapeutics
silveR
Cleanstart
fenwick & West
BRonze
akers Capital
american river ventures
Capital valley ventures
fedex Kinko’s
first Us Community Credit Union
Javed iqbal
McDonough holland & allen
coRBetts designate FelloWship FoR mBa students involved in Big Bang!
Jim and Georgia Corbett’s ties to UC Davis and the Graduate
School of Management run deep. The president and chair of
Spectrum Capital Corporation, Jim served as chair of the School’s
Dean’s Advisory Council from 1990 to 1995, and as a special
advisor and volunteer. He is also a former trustee of the UC
Davis Foundation Board. Georgia is a UC Davis alumna.
Four years ago the Corbetts pledged $100,000 to establish
an endowment that would provide an annual fellowship for
a UC Davis MBA student with the potential to succeed as an
entrepreneur. They recently requested that the student be
involved with the Big Bang! Business Plan Competition.
Jim Corbett founded the Sacramento
Entrepreneurship Academy in 1986 to help
UC Davis and Sacramento State students
become entrepreneurs. He remains chair
of the academy today.
GSM alumnus Jacob rivera ’05 inspired the
Corbetts to revise their fellowship. “It was
our privilege to know Jacob first through
the Sacramento Entrepreneurship Academy
and later when he was chair of the 2005 Big
Bang!,” they explained. “If in some small way
we can honor his efforts, as well as those of
future Big Bang! participants, we are quite
proud to be in that light.”
The James r. and Georgia K. Corbett
Fellowship for Student Entrepreneurs will
recognize at least one student per year
for their exceptional capability, talent
and passion. “The fellowship will have a
positive impact on our entrepreneurial
students for generations to come,” said
Dean nicole Woolsey Biggart.
2� • sPrinG / sUMMer 2006
Professor Alkimar Moura of
FGV-EAESP, São Paulo’s
business school, gave students
a lesson on the Brazilian
economy that drew on his
experience as the former
director of the country’s
Central Bank.
2� • sPrinG / sUMMer 2006
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Kevin DeLury and Tamara Olson
discover that a traditional Brazilian
BBQ is no time to count calories.
GSM students Alex Morris,
Cody Carroll, Kevin DeLury,
Josaphine Tuchel and Tamara
Olson at the Governor’s Palace
in Morumbi, São Paulo, where
they met the state secretary for
government strategy.
March 20, 2006 Our trip officially began with a visit
to Perdigão, the “Foster Farms of
Brazil.” Rather than owning the
farms that produce their product,
the company hires individual
families to raise the animals,
reducing their costs and employ-
ing many people in the process.
We also learned about government
policy from the state secretary for
government strategy, but the high-
light of the day was dinner at a
churrascaria, a traditional Brazilian
BBQ. I witnessed an amazing dis-
play of eating ability as our crew slugged it out at this
all-you-can-eat meat buffet.
—Kevin DeLury
March 21, 2006
Today we toured São Paulo’s business school,
FGV-EAESP. Unlike the traditional monochromatic
classrooms we are accustomed to in the U.S., each
classroom here is uniquely and colorfully decorated
by a corporate sponsor. At the end of our tour,
Professor Alkimar Moura, former director of Brazil’s
Central Bank, provided an overview of the economy.
With the Brazilian currency, the real, gaining strength,
he said, Brazil’s future appears favorable.
Next we visited Agnelo Pacheco, a local, employee-
owned communications agency that represents consumer
empowerment and offers clients greater returns on their
investments. The advertising industry in Brazil is booming
(up 14.7% in 2005), largely due to the growing number
of Brazilians with Internet access.
—Paige Marino
after spending the winter quarter immersing themselves
in the diverse cultures and complex economies of
Brazil and Argentina, the 12 MBA students enrolled
in Professor Prasad Naik’s International Field Practicum
joined him for a 10-day trek through the executive suites,
business school classrooms, major banks and unforgettable
sights and tastes of the two countries . They recorded their
first impressions, experiences and lessons learned in a
“team blog .”
B r a z i l a r g e n ti n aca J o U r n e y t o t W o W o r l D s o n o n e a M a z i n G t r i P
UC Davis GraDUate sChool of ManaGeMent • 25
Commuter transportation,
Brazilian-style, outside the
employee-owned communications
agency Agnelo Pacheco.
t
UC Davis GraDUate sChool of ManaGeMent • 25
Friday, March 24 included a visit to
Alltech Brazil. Headquartered in Lexington,
Kentucky, animal-feed industry leader
Alltech has 14 regional production
facilities worldwide.
March 22, 2006No need for a wake-up call this morning: a loud rally
a block from our hotel did the job. This is a presidential
election year in Brazil, and there is a serious division
among its citizens. Later in the day, as we met with the
chief economist for Banco Itaú, we came to better
understand this pronounced divide. While Brazil has
fared better financially than several other South
American countries, many citizens believe the govern-
ment has focused on the economy at the expense of
social issues. Perhaps today’s most astounding lesson
is that banks do not offer mortgages in Brazil. But
then, who could afford a loan when the going interest
rate is nearly 30 percent!
—Stacey Cole
March 24, 2006São Paulo, a city of 17 million, experiences all of the
typical woes of a metropolis its size, including dreadful
traffic, poor air quality and endless sprawl. In stark
contrast is Curitiba, the capitol of the Brazilian state
of Paraná, and the next stop on the itinerary. At our
afternoon meeting with the Curitiba Planning Institute
we learned how four decades of thoughtful planning
and growth have made Curitiba a world-renowned
model of urban living and sustainability. Most impres-
sive is the city’s multitude of parks, pedestrian-friendly
urban spaces and incredibly
efficient public transit system,
which is used by an impressive
85 percent of Curitiba residents.
Speaking of transportation, our
Friday night “hotel” came in
the form of an overnight bus
to Iguaçu Falls, one of the seven
wonders of the world.
—Tamara Olson
B r a z i l a r g e n ti n aca J o U r n e y t o t W o W o r l D s o n o n e a M a z i n G t r i P
26 • sPrinG / sUMMer 200626 • sPrinG / sUMMer 2006
B u e n o S a i r e S , a r g e n ti n a
Two to tango: Paige Marino and
Professor Prasad Naik take a turn
on the dance floor.
Stacy Cole (far right) and several
other fearless members of the group
were willing to get drenched to
reach the base of Iguaçu Falls.
Cody Carroll, Kevin DeLury and Alex Morris, within
spraying distance of the magnificent Devil’s Throat.
March 25—26, 2006 In Iguaçu the main attractions are Iguaçu Falls and
Itaipu, a monstrous dam that provides hydroelectricity
for all of Paraguay and 25 percent of Brazil. The over-
flow spouts of the dam shoot water out at frightening
speeds. We appreciated the grand work of humans and
the awesome power of nature; however, only a few
hours later, Iguaçu Falls trumped Itaipu.
This endless series of waterfalls, with spray reaching
hundreds of feet into the air, truly leaves you breathless.
A walkway hovering above the river allowed us to stand
at the base of Devil’s Throat, the highlight of the falls.
We were soaked by the spray, but everyone was having
too much fun to notice. The more adventurous of our
group took a speed boat to the base of the falls for a
true drenching. We all gave Iguaçu Falls “two thumbs
up” as we hopped a plane to our final
destination: Buenos Aires, Argentina.
—Alex Morris
March 27, 2006It is clear that we are in a whole new country. Spanish
not Portuguese, weather more like fall than summer,
and malbec instead of cachaça were the first of many
differences. Our journey to IAE, the management and
business school of the Universidad Austral, took us
past prime Argentine polo country to the town of
Pilar. IAE has built a lovely new campus and academic
program based upon the U.S. research university
model. After Professor Patricio Fay, director of IAE’s
international programs, told us that a starting MBA
student could have a house, sailboat and membership
in a good club, many of us were ready to sign-up.
—John Kirkley
B r a z i l a r g e n ti n ac
UC Davis GraDUate sChool of ManaGeMent • 2�
Joseph Greiner, Loren Bishop and
Professor Prasad Naik discover that in
Argentina as in the rest of the world,
a Big Mac is simply a Big Mac.
Above: A fascinating and fiery after-
noon at Tenaris’ plant in Campana,
Argentina. Tenaris is a leading global
manufacturer and supplier of seamless
steel pipe products and provider of pipe
handling, stocking and distribution
services to the oil and gas, energy and
mechanical industries.
Below: The panoramic view of the
Rio de la Plata from atop Banco Rio.
UC Davis GraDUate sChool of ManaGeMent • 2�
March 28, 2006At the South American headquarters of Alberto Culver,
a U.S.-owned company, we discussed the challenges
of maintaining a business in periods of hyperinflation.
According to our host, cash flow management—
collecting customer payments as soon as possible
while extending the repayment period to suppliers—
is the only way to survive. Today a significant challenge
they face is selling their products to Argentines with
limited purchasing power.
In the evening, dressed in tango-appropriate attire, we
taxied down to a Puerto Madera waterfront restaurant,
where we took a group lesson in Argentina’s most
famous dance. I wouldn’t say that we were naturals,
but we got better as the lesson progressed. Exhausted,
we walked along the row of shops and restaurants on
the water to find a place to eat. Italian it was! Pizza,
gnocchi and wine, accompanied a lively discussion
of our new-found talent for tango.
—Josaphine Tuchel
March 29, 2006 Wednesday began with a wild cab ride to the corporate
headquarters of McDonald’s Argentina. Argentina is
ranked 17th in McDonald’s worldwide network and is
second only to Brazil in Latin America. Unlike in the
U.S., where McDonald’s targets lower to middle class
consumers, the target market in Argentina is the upper
class. With the economic crisis of 2001, this potential
market decreased by nearly 40 percent. The company’s
strict focus on operations and marketing through this
March 30, 2006 Our last day began at Banco Rio,
where four young executives explained
how the 2001 financial crisis in
Argentina affected their bank. With
the panoramic view of the Rio de la
Plata and the Uruguayan coast in
the background, some of us found it
hard to stay focused.
Our next meeting was nearly two
hours outside of Buenos Aires in
Campana, where we toured Tenaris,
an international steel pipe producer.
We watched as the flaming hot
pipes were pierced and stretched
into various sizes.
At our last dinner together we shared
lessons and impressions of our
South American journey. The trip was a highlight
of our MBA experience at UC Davis.
—Aimee Waldman
tough time made an example of best practices for
McDonald’s worldwide. Our informative meeting
ended with a hosted lunch, where we enjoyed pita
sandwiches, mozzarella sticks and, of course, Big Macs.
Next we met with Mercado de Valores de Buenos Aires
S.A., Argentina’s stock exchange. Two young and very
intelligent economists summarized the Argentine
financial market structure and gave us their take on the
economy. Despite the crisis, Argentina has experienced
three exceptional years of greater than 9 percent growth
in GDP. Their main concern: is this sustainable?
—Cody Carroll
“I thoroughly enjoyed the seminar and came away
with a basic understanding of marketing and how
the entire wine industry works .” —louis foppiano, owner and President, foppiano vineyards, sonoma valley
friday Welcome luncheon october 6
The Silver Anniversary festivities will kick off on Friday, October 6, with Dean Nicole Woolsey Biggart hosting a welcome luncheon where she will share her vision for the School’s next 25 years as well as her experiences as one of the founding faculty members when the doors opened in fall 1981.
The keynote speaker will be Bruce Bodaken, chairman, president and CEO of Blue Shield of California, a non-profit with 3.3 million members and the state’s fastest growing health plan.
Mark your calendars now for a two-day celebration of a historic milestone: the Graduate School of Management’s 25th Anniversary.
28 • sPrinG / sUMMer 2006
“looking Back, Moving forward” 25th Anniversary Weekend Celebration save the Dates: october 6–�
“silver Celebration” saturday october �
Activities will include:
• Davis Farmers’ Market
• Children’s fair
• Moving Forward: GSM Visions for the Future presentation
• Luncheon: Looking Back presentation and contributions to community time capsule
• Tours of UC Davis campus
• Special reunion cocktail party for the classes of ‘86, ‘91, ‘96 and ‘01
• Gala Celebration: dinner, dancing, casino gaming and Alumni Awards.
UC Davis Wine executive Program attracts Globetrotting attendees
28 • sPrinG / sUMMer 2006
“I thoroughly enjoyed the seminar and came away
with a basic understanding of marketing and how
the entire wine industry works .” —louis foppiano, owner and President, foppiano vineyards, sonoma valley
n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r
The rigorous curriculum includes in-depth sessions on financial management, winemaking prac-tices, marketing and branding, cost analysis and control, legal issues, the latest grape and wine research, and operating modern wineries and vineyards.
Over the past six years, nearly 300 wine industry decision makers from across the U.S.
and around the world have benefited from the program.
“We’re very pleased at the response of this year’s program—it was an overwhelm-ing success,” said GSM Professor Robert Smiley, director of wine industry studies. “The attendees came from many different
The Graduate School of Management and the Department of Viticulture and Enology hosted 45 wine industry profes-sionals at the sixth annual UC Davis Wine Executive Program in March in Sacramento. The program drew participants from as far away as Spain, New Zealand, Korea and Hong Kong.
The four-day professional devel-opment course focuses on the winemaking and management skills that are critical to success in the business and art of making and selling wine.
wineries, vineyards and related wine businesses. They enjoyed the sessions and networking opportunities. We’re looking forward to next year’s program.”
UC Davis Wine executive Program attracts Globetrotting attendees
200� UC Davis Wine executive Program March 4–8, 2007 • Sacramento, Calif.
www.wineexecutiveprogram.com
28 • sPrinG / sUMMer 2006
friday Welcome luncheon october 6
The Silver Anniversary festivities will kick off on Friday, October 6, with Dean Nicole Woolsey Biggart hosting a welcome luncheon where she will share her vision for the School’s next 25 years as well as her experiences as one of the founding faculty members when the doors opened in fall 1981.
The keynote speaker will be Bruce Bodaken, chairman, president and CEO of Blue Shield of California, a non-profit with 3.3 million members and the state’s fastest growing health plan.
Mark your calendars now for a two-day celebration of a historic milestone: the Graduate School of Management’s 25th Anniversary.
“silver Celebration” saturday october �
Activities will include:
• Davis Farmers’ Market
• Children’s fair
• Moving Forward: GSM Visions for the Future presentation
• Luncheon: Looking Back presentation and contributions to community time capsule
• Tours of UC Davis campus
• Special reunion cocktail party for the classes of ‘86, ‘91, ‘96 and ‘01
• Gala Celebration: dinner, dancing, casino gaming and Alumni Awards.
“looking Back, Moving forward” 25th Anniversary Weekend Celebration save the Dates: october 6–�
n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r
GraDUate sChool of ManaGeMent • 2�
alumni’s career development and purchasing power, the diversity of the school and its program, and each school’s research capabilities.
Financial Times is one of the world’s leading business information brands. The Financial Times newspaper has an international readership of more than 1.3 million.
This is the eighth FT Global MBA ranking, which evaluates full-time MBA programs from the world’s top business schools. The data for this year’s ranking were gathered from qualifying business schools and their alumni of the past three years. The number of alumni respondents is higher than last year, with responses from 8,300 eligible alumni (36 percent of all the questionnaires e-mailed to MBA alumni).
The rankings data, which span 21 cate-gories, focus on three primary areas: the
The UC Davis MBA program has been ranked among the top 50 business schools in the U.S. in the 2006 Financial Times Global MBA rankings.
Released in January, Financial Times’ ranking placed the UC Davis Graduate School of Management 50th in the U.S. and 79th in the world. The GSM was one of only 14 of the world’s top 100 business schools with all faculty members holding doctorate degrees.
Clients Praise MBa Consulting Center Projects
financial times ranks UC Davis MBa Program in top 50 in U.s.
UC Davis GraDUate sChool of ManaGeMent • 2�
n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r
http://rankings.ft.com/rankings/mba
UC Davis GraDUate sChool of ManaGeMent • 2�
resources are limiting,” she explained. “I would not hesitate to have another team of students do another project. The quality of their work was as good or better than that of private consultants.”
Another client, Solaicx, needed to know whether it should open a production facility in Portland, Ore., and if so, when and at what cost. “The MBA students assisted us in exploring and evaluating these issues,” said Solaicx chairman Robert Medearis. “Their work was excellent. I know we will be working with the School on future projects.”
This spring, a student team assisted KVIE Public Television in finding new ways to approach financing future capital acquisi-tions. A second student team worked with the UC Davis Center for Biophotonics, Science and Technology, a National Science Foundation–funded consortium of academic researchers that is translating cutting-edge discoveries using lasers, light and imaging to develop useful biomedical tools. The MBA student consultants docu-mented and quantified the breadth and depth of the biophotonics industry.
growth. A team of Working Professional MBA students took on the project and developed a market research survey with both quantitative and qualitative data. They analyzed the data and provided
recommendations for a research methodology that can be applied across all industries in Tri-Valley’s business region.
Meanwhile, AgraQuest approached the center with a query on the growth potential of the company as it considers an initial public offering. The future market size for environmen-tally friendly pesticides is essential for setting an IPO value for the company. The student team developed
detailed financial models on crop acreage by county and by region. Using certain assumptions, they were able to forecast the company’s total possible revenues over the next six years.
AgraQuest founder Pam Marrone said the consulting team exceeded her expecta-tions. “The value of their work was in the sophisticated spreadsheet model they developed, which can be used to prioritize specific market regions and crops if
The UC Davis Graduate School of Manage-ment’s MBA Consulting Center is making a difference for many Northern California companies.
Since last September the companies that have benefited from the students’ assistance include Holt of California, a full-service Caterpillar equipment dealer covering a 17-county region; the Sacramento Area Regional Technology Alliance (SARTA), a not-for-profit organization that serves as a hub for high-tech entrepreneurs; AgraQuest, a Davis-based biotech- nology company; the Tri-Valley Business Council, an organization dedicated to improving economic vitality in the East Bay; and Solaicx, a Santa Clara–based manufacturer of low-cost, high-efficiency silicon wafers for the photovoltaic industry.
The projects have been as varied as the companies.
Tri-Valley Business Council came to the MBA Consulting Center seeking to better understand how it can nurture business
Clients Praise MBa Consulting Center Projects by Cindi Rich
The UC Davis
Graduate School of
Management’s MBA
Consulting Center,
which opened its doors
just last fall, is already
making a difference
for many of Northern
California companies .
www.gsm.ucdavis.edu/consulting
financial times ranks UC Davis MBa Program in top 50 in U.s.The UC Davis MBA program has been ranked among the top 50 business schools in the U.S. in the 2006 Financial Times Global MBA rankings.
Released in January, Financial Times’ ranking placed the UC Davis Graduate School of Management 50th in the U.S. and 79th in the world. The GSM was one of only 14 of the world’s top 100 business schools with all faculty members holding doctorate degrees.
This is the eighth FT Global MBA ranking, which evaluates full-time MBA programs from the world’s top business schools. The data for this year’s ranking were gathered from qualifying business schools and their alumni of the past three years. The number of alumni respondents is higher than last year, with responses from 8,300 eligible alumni (36 percent of all the questionnaires e-mailed to MBA alumni).
The rankings data, which span 21 cate-gories, focus on three primary areas: the
alumni’s career development and purchasing power, the diversity of the school and its program, and each school’s research capabilities.
Financial Times is one of the world’s leading business information brands. The Financial Times newspaper has an international readership of more than 1.3 million.
n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r
�0 • sPrinG / sUMMer 2006
�0 • University of California, Davis�0 • sPrinG / sUMMer 2006
left, right, left: GsM Briefcase Brigade Marches on at UC Davis Picnic Day
n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r n e W s t i C K e r
assistant Dean Claudine thompson retires after �6 years at UC Davis
alumna sharon henn ’�2 Joins Management team
After more than 36 years of service at UC Davis, including the last 15 with the Graduate School of Management, Claudine Thompson retired this spring from her position as assistant dean of administrative services.
Thompson had been responsible for over-seeing the GSM’s fiscal operations and budget as well as all personnel matters related to faculty, students and staff. She also had oversight of the School’s computing services and project resources management departments.
Thompson first joined UC Davis in May 1965 and later left in 1983. She returned in 1988, joining the Department of Agricultural and Resource Economics. She came to the Graduate School of Management in 1992 and was named assistant dean in 2000.
The GSM community held a retirement celebration for Thompson at the end of May. “Claudine has been a quiet, essen-tial force behind the management of the School,” said Dean Nicole Woolsey Biggart. “She manages the money and the staff, and has always done a great job with both. I am really going to miss her.”
After a nationwide search to fill Thompson’s shoes, the hiring committee only had to look across campus to find the top can-didate—GSM alumna Sharon Henn ’92, who started in mid-May as the School’s newly appointed assistant dean of busi-ness and finance.
Henn has 24 years of experience at UC Davis, most recently serving as the associ-ate accounting officer in the UC Davis Accounting and Financial Services. She also is a CPA.
“Attending the GSM was one of the best decisions I’ve ever made, and I believe returning as a member of the School’s management team will prove to be another,” Henn said.
Dean Biggart, who was once one of Henn’s professors, praised her talents. “Sharon’s finance and management skills and experience are excellent,” Biggart said, “and we are very fortunate to have her as part of our senior staff.”
Claudine Thompson
Students and alumni again donned shorts, sneakers and ties to continue a venerable Graduate School of Management tradition: the PRECISION Briefcase Brigade contingent in the UC Davis Picnic Day parade.
Conceived by bleary-eyed business students during a late-night study session in 1982, the brigade has been a blue-chip entry in the parade ever since. Picnic Day is the largest student-run event in the nation, and UC Davis’ longest-running campus event. More than 70,000 attended the April 22 festivities. The parade weaves through downtown Davis and onto campus to kick off the day’s activities, a smorgasbord that celebrates the richness of campus life and the diverse achievements of the university’s faculty, students and staff.
UC Davis GraDUate sChool of ManaGeMent • �1GraDUate sChool of ManaGeMent • �1
in a
pp
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cia
tio
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by Tim
Ak
in
In March, before their trip to Iran, Dean Nicole
Woolsey Biggart and Dr . Reza Abbaszadeh met
at UC Davis with Professor Mashayekhi Alinaghi
(left), the founding dean of the Graduate School of
Management and Economics at Sharif University in
Tehran, to talk about how the program will benefit the
students and both institutions .
The idea flowed from a conversation Reza Abbaszadeh
had with a fellow Iranian while they enjoyed a bike ride
along the American River in Sacramento. They spoke
about universities in Iran and the limited opportunity students
have there, both in their careers and in higher education.
It turns out Abbaszadeh’s friend, local businessperson Javad
Rahimian, serves as a trustee on the UC Davis Foundation, and
he and his wife, Sharin, had formed a scholarship endowment
fund at UC Davis for Iranian American students in need of
financial assistance.
“By the time that we finished the bike ride, we came up with this
concept that if there was funding for bright international students,
we could bring them to UC Davis,” Abbaszadeh explained.
Fast forward about a year and that oppor-
tunity is now a reality, thanks to a gift of
more than $113,000 from Abbaszadeh.
His support will fund the travel, living
expenses and education fees for six students
from Sharif University of Technology in
Tehran to study at the Graduate School
of Management for a quarter. Barring any
diplomatic snags, the first students will
come this fall.
Abbaszadeh attended UC Davis in the 1980s
and went on to become a dentist, but he was
drawn to the business side of the dental
field and now owns more than 15 practices.
Today he is CEO of Premier Access Insurance
Company in Rancho Cordova. He said his
experience as an immigrant has been
“extraordinary,” and he wants to help
expose others to U.S. culture.
“Certainly, the United States has the best universities—and the
best MBA programs. You have a terrific MBA program here at
UC Davis,” he said. “We have the most dynamic economy in
the world. For people who are ambitious and hardworking, this
still is the land of opportunities.”
Amid heightened political tensions over Iran’s nuclear program,
Abbaszadeh and Dean Nicole Woolsey Biggart traveled together
to Tehran in May to meet with Sharif University administrators
and faculty, and to interview potential students. To and from
Tehran, Abbaszadeh and Biggart made brief stop-
overs in Dubai to meet with U.S. consulate officials
to iron out logistics of the academic program.
Abbaszadeh praised UC Davis Chancellor Larry
Vanderhoef and Biggart for their enthusiastic
support of the program. Vanderhoef led a dele-
gation from UC Davis to Iran in 2004, including
a visit to Sharif University, paving the way for
Biggart and Abbaszadeh’s trip.
Biggart said the prospect of having visiting
students from Sharif University studying at the School will offer
GSM students a valuable international perspective.
“Many of our students have traveled to Europe and to Asia, but I
think that the Middle East is often distorted in their minds,” she
said. “I don’t think they understand there’s a large population of
highly educated people who want to connect with them. So, rather
than sending our MBA students there, we’re bringing those students
here. It’s a great opportunity.”
“It’s the Chancellor’s vision, Dean Biggart’s vision and this environment that have allowed this
program to happen . We are very fortunate to have UC Davis in
our community .”
— reza abbaszadeh, Ceo,
Premier access insurance
Company and benefactor of
fund to support six visiting
international students to
study at the GsM
r e z a a B B a s z a D e h ’ s G e n e r o s i t y o P e n s n e W o P P o r t U n i t y
New Fund for International Students to Study at GSM
�2 • sPrinG / sUMMer 2006
First-year mBa student shilpi sharma hopes to use her business
education to start a global apparel company while continuing her work for
a non-profit scholarship fund that helps academically strong but economically
underprivileged students in her native India.
st
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Her extracurricular activities at the School include the
Community Consulting Group, Net Impact and the
International Business Club. While all have proven rewarding,
Sharma particularly cherishes her experiences leading a
team at last fall’s Thunderbird Innovation Challenge, an
annual “idea competition” among MBA students across
the U.S. “By collaborating and drawing on our diverse
backgrounds, we were able to accomplish great feats,” she
explains. “We didn’t win the competition, but we benefited
greatly from the amazing experience it presented us.”
Sharma’s interest in using her business skills to develop
innovative solutions is evident outside of the School as
well. In 2003 she contacted several former high school
classmates to discuss her vision of a scholarship fund to
assist academically strong but economically underprivi-
leged students.
In India, basic education is provided, but students from
low-income families have only very limited options beyond
this. Sharma’s non-profit organization, Kalpa Vriksha, provides
qualified students in small villages or towns with scholarships
and access to career planning and development resources.
In the past two years Sharma has returned to India three
times to meet with members of the local business commu-
nity, recruit volunteers and publicize Kalpa Vriksha’s efforts
through the media. “We started the scholarship with our
savings,” she reports, “but now we are getting sponsorships
from individuals and local businesses, and I am contacting
the community service departments of a few larger corp-
orations in India for the same.
“Last September we conducted an entrance exam and selected
18 students to receive a scholarship. They will be the first
in their families to benefit from an advanced education,
and for them, it will make the world of difference.”
to Fashion the Perfect Careerta K i n G t h e t i M e
�2 • sPrinG / sUMMer 2006
Shilpi Sharma’s career has taken her from product
analyst at the Indian software solutions giant Tata
Infotech to the Graduate School of Management,
where she is acquiring the knowledge and skills necessary
to realize her dream job: founder and owner of a global
apparel business.
“When I moved to the
U.S. five years ago,”
Sharma says, “I was inter-
ested in transnational
comparisons in fashion
and quickly recognized
an opportunity for Indian
fashion, which lacks a
global brand. I hope to
change that.”
How do you move from
the empirical world of
science—Sharma has a master’s degree in physics from
New Delhi’s Indian Institute of Technology—to become
an entrepreneur in the fashion biz? For Sharma, the tran-
sition began when she realized that her consulting work
in the high-tech field, first in India and then at Deloitte
Consulting in Sacramento, had sparked a growing interest
in all areas of business.
“The UC Davis MBA program is providing me with more
than an education,” Sharma continues. “It is the perfect
bridge between where I am now and where I want to go
in my professional life. In the shorter term I will return to
consulting to further develop the skills I will need to start
my own company.”
Outside of the classroom, Sharma’s time is devoted to
myriad activities, including her part-time position with the
alternative investment management group at CalSTRS, the
nation’s second largest pension fund. “The learning curve
is pretty high,” she says, “but I enjoy working with such a
knowledgeable group of people.”
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GUerra finDs Bay area MBa ProGraM
a Perfect fit
Bay area mBa student edgar guerra
says balancing career and classes has been a challenge,
but it’s teaching him how to be more productive, set clear
priorities and make faster decisions as a senior associate
at PricewaterhouseCoopers in San Francisco.
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to Fashion the Perfect CareerEdgar Guerra was on a fast-track career path with the
U.S. Federal Reserve Bank in San Francisco when
he decided to switch gears and enroll in graduate
school. Although five years in the fields of operational risk
management and business compliance with the Fed had been
a valuable experience, Guerra wanted to focus more on finance.
Originally, Guerra researched full-time MBA programs, but
he decided to pursue a working professional program so he
could continue advancing in his career. When he learned that
the UC Davis Graduate School of Management was opening
a Bay Area campus for working professionals, Guerra was
drawn to the new venture and enrolled in the charter class.
“It’s a growing program, big on collaboration and innovation,
which intrigued me,” Guerra says. “I’m passionate about
growth, and being a part of that was a huge pull for me.”
Guerra says the smaller class size is very different from
other schools he considered, and the close interaction
between students and faculty provides a strong sense of
community and camaraderie. Even the pick-up basketball
games every other Saturday after class build team spirit
with his classmates.
Guerra grew up in San Jose and attended UC Berkeley as an
undergraduate. He majored in economics, focusing on the
economic growth of developing nations. “It’s fascinating—
there’s more at play than just dollars and cents,” Guerra
says. “A lot of politics is involved.”
An internship his junior year with the San Francisco branch
of the Federal Reserve Bank led to a full-time position as
project manager for information technology services after
graduation. His first assignment was managing business
relationships between ITS project teams and business areas.
He then switched roles to serve as a project consultant for
corporate strategy before becoming a senior risk consultant.
As a risk consultant, Guerra developed and implemented
enterprise risk management and Sarbanes-Oxley compliance
programs, facilitating risk assessments regarding the controls
around financial reporting and operations.
“Governance and risk oversight have a huge impact on
companies,” Guerra says. “These career positions are
booming right now, thanks to the savings and loan scandal
of the 1980s, the Enron scandal and the events of 9/11.”
He estimates that compliance spending averages approximately
$1 million for every $1 billion in revenue; however, some companies
spend above the average, and others spend well below the average
to ensure accountability and trust with their shareholders.
Guerra enrolled in the Bay Area MBA program to focus on finance
and capitalize on the tools he had acquired as an undergraduate.
Shortly after starting his MBA, Guerra left the Fed to join
PricewaterhouseCoopers. His new career focuses on an industry
immersed in finance, mirroring the emphasis of his MBA.
As a senior associate in PricewaterhouseCoopers’ performance
improvement practice division, Guerra analyzes the financial effec-
tiveness of companies. He estimates that 80 percent of his work
hours are spent on the road, and he often flies back to the Bay Area
to attend classes every other weekend.
Guerra is also involved with the Bay Area program’s student leader-
ship, a role that keeps him in tune with the Graduate School of
Management’s Sacramento and Davis campuses. As of member of
the Bay Area MBA program’s charter class, he’s become a
champion for the School, encouraging colleagues and
associates from the financial sector to either get
involved or enroll in the GSM.
Finding a balance between career and
classes has been a challenge, but
Guerra says the process is teaching
him how to be more produc-
tive, set clear priorities and
make faster decisions.
“These three years are
likely to be some of the
most productive of my
life and that’s very
exciting,” Guerra says.
“I feel I’m absolutely
on track—this is a great
experience.”
UC Davis GraDUate sChool of ManaGeMent • ��
�� • sPrinG / sUMMer 2006
GsM stUDy linKs shareoWner aCtivisM to BiG finanCial GainsConfirming the CalPERS Effect
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Every spring the California Public Employees’
Retirement System (CalPERS) publicly
announces its “Focus List” of targeted
companies it intends to engage in shareowner activism
over corporate governance problems, with the implicit
expectation of reversing financial underperformance.
A recent study by UC Davis Graduate School Manage-
ment finance Professor Brad Barber presents empirical
evidence confirming that CalPERS’ shareowner activism
does indeed pay—to the tune of $3.1 billion in the short
run and an estimated $89.5 billion in the long run.
This link between
activism and financial
performance has been
dubbed the “CalPERS
Effect” elsewhere.
CalPERS is the nation’s
largest public pension
fund, with more than
$207 billion in assets.
to improve shareholder value should be well grounded
in scientific evidence—either theoretical or empirical
(preferably both).”
Barber lays out both theoretical and empirical evidence
supporting prudent shareowner activism. From a
theoretical perspective, he posits two “agency costs”—
on one side of the coin is the conflict of interests
between shareowners and corporate management;
on the other is the conflict between shareowners and
portfolio managers.
One example of the first problem is when corporate
managers seek to line their own pockets at the expense
of shareowner value. This is precisely what CalPERS
targets with its Focus Lists by filing shareowner resolu-
tions on governance problems such as boards that
lack independence. Shareowner activism aimed at
curbing such agency costs meets with Barber’s approval.
“All shareholder proposals at Focus List firms
sponsored by CalPERS were designed to improve
shareholder rights,” Barber states.
Before considering the second agency cost, it makes
sense to examine Barber’s own empirical evidence
documenting the financial impacts of shareowner
activism. Barber tracks the financial performance of the
115 Focus List companies for the 14-year period ending
2005 (while CalPERS initiated its Focus List activism
in 1987, it did not start publicly announcing the list
until 1992, hence the starting point of the study.)
These companies include AT&T and Weyerhaeuser in
2005, Disney and Shell in 2004, Xerox in 2003, Gateway
in 2002, and Advanced Micro Devices in 1993, 1998
and 2000.
Barber breaks his results into two batches, looking first
at short-term results, and then at long-term returns.
“My short-run analysis indicates that CalPERS activism
yields small, but reliably positive, market reactions of
23 basis points (bps) on the date Focus List firms are
publicly announced,” Barber says, noting this amounts
to $224 million annually, or $3.1 billion over the
14 years. “My long-run analysis yields intriguing
but inconclusive results.”
Barber’s study, “Monitoring the Monitor: Evaluating
CalPERS’ Shareholder Activism,” distinguishes
between activism intended to improve shareowner
value and activism seeking to advance political agendas.
“Institutional activism is a double-edged sword,” he
writes. “When prudently applied, activism can provide
effective monitoring of publicly traded corporations.
“When abused, portfolio managers can pursue their
personal agendas at the expense of those whose money
they manage,” he adds. “Institutional activism designed
Examining companies publicly targeted for governance
reform by CalPERS, Professor Brad Barber’s recent study presents
data and analysis correlating the pension fund’s activism
to increasing shareowner value—as well as some
cautionary notes .
UC Davis GraDUate sChool of ManaGeMent • �5
GsM stUDy linKs shareoWner aCtivisM to BiG finanCial GainsConfirming the CalPERS Effect
GraDUate sChool of ManaGeMent • �5
www.gsm.ucdavis.edu/calpersstudy
“Portfolios of Focus List firms earn annualized abnor-
mal returns ranging from 2.4 to 4.8 percentage points
annually at holding periods ranging from six months
to five years,” he continues. “If these abnormal returns
are causally linked to the activism of CalPERS, the
wealth creation is enormous—as much as 20 times
greater than the short-run benefits and as large as
$89.5 billion through December 2005.”
Barber cautions that such a causal link is tenuous, as
other factors almost certainly contribute. By the same
token, however, Barber notes that the Focus List com-
panies are only the “tip of the iceberg” of CalPERS’
activism, and that it almost certainly reaps similar
financial benefits from its less publicized activism.
Counterbalancing these potential financial benefits are
potential financial pitfalls of activism. Returning to
the second agency cost, Barber characterizes it as mis-
directed shareowner activism—or activism that is not
directly linked to improving shareowner value. He
cites the example of CalPERS’ 2000 decision to divest
from tobacco, which was not rooted in any empirical
evidence of financial benefit.
Barber does not insist that all activism must improve
shareowner value, but he does suggest that activism
unlinked to financial gain should at least align with
the interests of beneficiaries.
“When institutional activism cannot be reasonably
expected to maximize shareholder value, the prefer-
ences of investors should be given top priority,” Barber
explains. “Institutions must open lines of communication with
investors; they must understand how investors stand on moral
issues that might affect investment policy.”
“Most institutions simply ignore moral considerations when
investing,” he adds. “Unfortunately, ignoring these consider-
ations is not necessarily in the best interests of investors.”
In April CalPERS released its 2006 Focus List, singling out six
U.S. companies for poor financial and corporate governance
performance: Brocade Communications of San Jose, Calif.;
Cardinal Health of Dublin, Ohio; Clear Channel
Communications of San Antonio, Tex.; Mellon Financial of
Pittsburgh, Penn.; OfficeMax of Itasca, Ill.; and Sovereign
Bancorp of Philadelphia, Penn.
“The stock performance and governance of these companies is
unacceptable to us and other shareowners,” CalPERS Board
President Rob Feckner said in a statement. “We are urging
them to make such improvements as requiring majority voting
for directors, removing excessive takeover defenses that prevent
shareowners from amending company bylaws, and accounting
for their performance.”
It remains to be seen whether these companies will experience
the CalPERS Effect.
© 2006 SRI World Group, Inc .
For more information and to download the study, visit:
• institutional activism—like CalPers'
focus lists—can expand shareholder
rights and create billions of dollars
in wealth.
• CalPers' shareholder activism has
resulted in short-term wealth creation
estimated at $�.1 billion between
1��2 and 2005.
• long-run benefits of CalPers' activism,
though more difficult to estimate,
could be as high as $8�.5 billion.
• When taking positions on sensitive
moral or political issues, portfolio
managers should pursue their inves-
tors' interests rather than their own.
• institutions should better understand
where investors stand on moral issues
that might affect investment policy.
CalPERS Study Quick Facts
�6 • sPrinG / sUMMer 2006
Assistant Professor Beth Bechky
Professor Emeritus Richard Dorf
faCUlty researCh faCUlty researCh faCUlty researChFacultY ReseaRchOrganizations come in many forms, from
more traditional, formal hierarchies found in
corporations and government departments, to
less hierarchical, project-based organizations
such as theater, commercial construction sites
and film production sets. The latter, referred
to as “temporary organizations,” have proven
more flexible and capable of accomplishing
objectives efficiently and successfully under
intense time constraints. In her study titled
“Gaffers, Gofers and Grips: Role-Based
Coordination in Temporary Organizations,”
which was published in the January-February
2006 issue of Organization Science, Assistant Professor Beth Bechky
differentiates temporary from more traditional organizations. From her
observations working on several film productions—two movies, a music
video and a commercial—Bechky identifies how temporary organizations
accomplish objectives while lacking the stable rules, long-term job security,
hierarchies and traditional structures associated with large bureaucracies.
Bechky found that crew members bring with them some sense of what
their roles will be, given the conventions of the film industry. These role
expectations emerged more fully once individuals arrive at the set and
begin interacting with other members of the crew. Communication through
enthusiastic thanking, polite admonishing and role-oriented joking rein-
forces the expected role structures. Specific working roles are embraced
because each job can lead to future employment opportunities within the
industry. Bechky’s article offers important information for managers working
in the high-tech industry, where job security and the use of creative talent are
challenging, and for those who rely on a contract work force.
* * *
Technology Ventures: From Idea to Opportunity
(McGraw-Hill, 2005), a full-length textbook
by Professor Emeritus Richard Dorf
and Professor Tom Byers of the Stanford
Technology Ventures Program, has shot to
number one in sales this year in the market
segment that includes engineering schools
and engineering management programs
in business schools. “This is quite a feat
considering this is the first edition of the
book, and it usually takes the production
of three separate editions before a book
becomes the leader in the market,” explains
McGraw-Hill representative Suzanne Jeans. The book shows how successful
entrepreneurs pursued and realized their dreams, the risks they took, how
they recognized useful and profitable ventures, and how they built effective
enterprises. The authors rely on real-life examples of successful entrepreneurs,
and expand on their methods for success. Technology Ventures also has valuable
lessons for a more general management school perspective and readership.
GSM Faculty Research Popularity Ranks among Top 50 U.S. Business Schools
T he UC Davis Graduate School of Management
has been ranked among the top 50 business
schools in the nation for the number of faculty
research papers ever downloaded from the Social
Science research network (SSrn). As of late April, the
School ranks 49th overall.
With a small, research-active faculty, the Graduate
School of Management also ranks ninth for the
number of research papers downloaded per author.
The Web-based network ranks more than 800 busi-
ness schools worldwide on nine separate measures,
including total lifetime downloads of their faculty’s
papers on SSrn, total number of papers on SSrn,
total number of authors, and downloads per paper
and per author.
remarkably, only eight current Graduate School of
Management faculty members have research papers
posted to the network. Many of the top-ranked U.S.
business schools have five, 10 and even 20 times that
many faculty contributors.
SSrn is devoted to the rapid worldwide dissemination
of social science research and is composed of a number
of specialized research networks in each of the social
sciences. The SSrn eLibrary consists of two parts: a
database containing abstracts of more than 115,900
scholarly working papers and forthcoming papers, and
an electronic paper collection with more than 87,500
downloadable full-text PDFs.
Since the SSrn records the number of times a paper has
been downloaded by unique users, it is a reliable indicator
of the peer interest in faculty and their research.
www.ssrn.com
UC Davis GraDUate sChool of ManaGeMent • ��
Professor Paul Griffin
faCUlty researCh faCUlty researCh faCUlty researCh
Professor Paul Griffin served as
an expert witness in the Federal
Court of Claims case, Bank of America
v . The United States, 2005. In this
precedent-setting case, Bank of
America sued the federal government
for taxes it might pay on breach-
of-contract damages. This breach
was the result of federal regulations
instigated following the deregulation
of the savings and loan industry in
the early 1980s. Griffin weighed in
significantly on the court’s decision
to not allow Bank of America to collect the additional taxes as
damages. The deregulation of the savings and loan industry
perpetuated several years of unmitigated graft and fraudulent
investments that destabilized the market. In response, the federal
government imposed regulations in the form of several acts,
including the Financial Institutions Reform, Recovery and
Enforcement Act of 1989 (FIRREA), which slapped investment
institutions with a series of rules that conflicted with previous
contractual agreements with the government. For instance, a
common practice during company acquisitions prior to this
regulation was the regulatory accounting principle known as
“supervisory goodwill.” In the post-FIRREA era, financial institutions
have not been allowed to use this accounting principle, prompting
several to file lawsuits against the government. Most financial
institutions won the breach-of-contract cases, but some decided
to take it further by suing for the taxes they might pay in the
future on damages because their supervisory goodwill was taken
away. Bank of America sought claims of $100 million in lost
capital due to the disallowed supervisory goodwill, and also
demanded millions of dollars of taxes that might be paid under
the new regulations. Griffin argued that a tax gross-up, or tax
reimbursement, was inappropriate in this instance because the
damages Bank of America was seeking constituted the replacement
of lost capital and, as such, cannot be the subject of taxation.
The court agreed that no tax gross-up should be awarded—and
Griffin’s recommendation saved tax payers millions of dollars.
Associate Professor Andrew Hargadon
Associate Professor Andrew
Hargadon’s book How Breakthroughs
Happen: The Surprising Truth about
How Companies Innovate (Harvard
Business School Press, 2003) is one
of 12 books from a field of more
than 90 candidates that have been
selected for the first global book
club focused on innovation. A
group of senior innovation leaders
chose the books based on their
power to stimulate thought and
practical application. The book club
is sponsored by the InnovationNetwork, a global community of
innovation practitioners that helps individuals and organizations
develop a greater competency through conferences, events and
training programs. Hargadon’s book was selected for its emphasis
on networking and borrowing from existing technology in other
arenas. In it, he outlines “technology bro-
kering,” and shows that it has been the
force behind numerous celebrated inven-
tions. He takes readers behind the
scenes—from Edison’s Menlo Park lab
to IDEO—to illustrate strategies for
sourcing, nurturing and exploiting
ideas in new ways for new markets.
In April Hargadon traveled to
London to work with Professor
Jennifer Whyte of Imperial College’s
Tanaka Business School on a first-hand look at the
emergence of new construction technologies, such as structural
glass. Hargadon and Whyte are interested in studying the role of
experts in leading technological change, particularly as they serve
as trusted intermediaries who vet and vouch for safe, new technol-
ogies. While in Europe, Hargadon also presented his paper, “The
Networks of Innovation,” at the Copenhagen Business School.
Hargadon has been named a 2005–2006 Chancellor’s Fellow,
a prestigious campus honor designed to encourage young UC
Davis faculty members who show great promise in their academic
careers. As one of only five fellows named this year, Hargadon
received $25,000, which he plans to use to develop a research
tool for understanding teaching and developing the role of social
networks in individual innovation and entrepreneurship. Since
Chancellor Larry Vanderhoef launched the fellows program in 2000,
37 fellows have been named, including the GSM’s Professor
Kimberly Elsbach (2004) and Professor Prasad Naik (2005).
�8 • sPrinG / sUMMer 2006
Professor Michael Hagerty
Professor Kimberly Elsbach
FacultY ReseaRch faCUlty researCh faCUlty researCh faCUlty researCh
�8 • sPrinG / sUMMer 2006
* * *
Professor Michael Hagerty and
Professor Kenneth C. Land of
the Department of Sociology at
Duke University had their paper
“Constructing Summary Indices
of Quality of Life: A Model for
the Effect of Heterogeneous
Importance Weights” published
recently in the journal Sociological
Methods and Research . In the arti-
cle Hagerty and Land construct
summary indices (e.g., quality of
life indices) for a social unit (e.g.,
cities, states, nations) that will be endorsed by a majority of its
citizens. They assume that many indicators are available to
describe the social unit, but researchers disagree about the rela-
tive weights that each should be assigned. The summary index
maximizes agreement among citizens, along with conditions
under which an index will be endorsed by a majority in the
social unit. The authors show that, in every case, intuition great-
ly underestimates the extent of agreement among individuals,
and that it is often possible to construct a quality of life index
with which a majority of citizens agree (at least in direction).
In particular, they conclude that the equal-weighting strategy is
privileged in that it minimizes disagreement among all possible
individual weights. When the actual distribution of individual
weights is known, one can improve agreement further. Hagerty
and Land demonstrate these propositions by calculating real
quality of life indices for two surveys of citizens’ actual impor-
tance weights.
Professor Hagerty has announced that he will retire from the
Graduate School of Management as of July 1. He will hold the
title professor emeritus. Hagerty plans to spend next year at the
UC San Francisco Medical Center, where he will study neurology
and brain imaging, with applications for consumer behavior
and satisfaction.
Professor Kimberly Elsbach’s new
book, Organizational Perception
Management (Lawrence Erlbaum
Associates) was published in April.
Her work summarizes research findings
from the relatively new domain of
study called “organizational perception
management” (OPM), which examines
how organization spokespersons
influence audiences’ perceptions of
their organizations in light of both
good and bad events (e.g., an orga-
nizational innovation or an orga-
nizational scandal). Although perception management has been
studied at the individual level since the 1960s, organization-level
perception management (i.e., tactics designed to affect perceptions
of the image, identity or reputation of an organization) was first
examined in the 1980s through the study of corporate annual
reports and their effects on organizational reputations. In the sub-
sequent decades empirical studies have expanded the domain of
OPM to include the management of organizational identities (e.g.,
what it means to be a “green” organization), as well as the strategic
management of specialized organizational images for specific audi-
ences (e.g., what images to present to stockholders vs. consumers).
Elsbach’s book draws on current case studies and empirical and
qualitative field research to provide a comprehensive understanding
of OPM and its effectiveness. The book is intended for students,
scholars and practitioners of organizational management.
In honor of Chinese President Hu
Jintau’s visit to the International Center
for Finance in April, the Yale School
of Management hosted a conference
to explore and assess the history, pres-
ent state and future prospects of various
Chinese industries. Assistant Professor
Ning Zhu, a specialist in finance and
statistics, was invited to present his
paper, “Chinese Bond Market, The Past,
Present and Future.” The paper reviews
bond issuances and transactions going
back to the 1860s, when China was ruled by the Quing Dynasty.
Zhu discussed the historical reasons for a relatively underdeveloped
bond market (compared to equity market) in China by considering
historical and political events as a cause of this underdevelopment.
Zhu, who earned his Ph.D. from Yale, concluded with an optimistic
forecast for the development of the bond market over the next few
years. Zhu plans to publish his recent work in a comprehensive book
in the near future.
Assistant Professor Ning Zhu
UC Davis GraDUate sChool of ManaGeMent • ��
Professor Anand Swaminathan
faCUlty researCh faCUlty researCh faCUlty researCh
International Scholars Share Breakthrough Researchby Jacqueline Romo
The Graduate School of Management hosted the sixth annual
Davis Conference on Qualitative research from March 24–26,
attracting top scholars to share their work, brainstorm new
ideas and explore possible future collaborations.
researchers from oxford’s Said Business School, the University
of Alberta’s School of Business, the yale School of Management
and the Paul Merage School of Business at UC Irvine were
among the eight invited presenters.
While the conference receives much attention from qualitative
researchers nationally and internationally, “We maintained the
small size of the conference so scholars are comfortable sharing
their research, receiving substantive feedback from the other
participants and networking with one another,” explained
Professor Kimberly Elsbach, who co-organized the conference
with Assistant Professor Beth Bechky.
The conference focused on four main themes: constructing
industries and careers, creating organizations and jobs, shap-
ing and institutionalizing work practices, and conflict and
cohesiveness in organizations. The research presented included
studies of the impact of industrial technology design in shap-
ing jobs, an examination of individuals’ impact on institutional
change in the nursing industry, and a report on how relational
theory explains the benefits conflict can have in organizations.
Since the conference began in 2001, each year two scholars are
recognized with the conference’s Best Paper Award. Elsbach
compiled the winning papers from 2001–2004 into an edited
volume titled Qualitative Organizational Research (Information
Age Publishing, 2005). “The book is selling briskly on Amazon.
com and is a nice recognition for those scholars who participat-
ed and produced fascinating work,” Elsbach said. This year’s
awards went to Elizabeth Long Lingo of vanderbilt University
and Elizabeth Craig of Boston University.
The conference concluded with an overnight stay in napa
valley and a wine tasting hosted by Phil Hurst, founder of
Wineryexchange.com.
UC Davis GraDUate sChool of ManaGeMent • ��
Professor Anand Swaminathan,
a specialist in organizational theory
and strategy, joined forces with
Professor Arturs Kalnins of Cornell
University’s School of Hotel
Administration and Professor Will
Mitchell of Duke University’s
Fuqua School of Business to study
how a small, multi-unit organiza-
tion benefits from information
gathered from other markets in
which it competes. Their paper,
“Turnover Events, Vicarious
Information and the Reduced Likelihood of Outlet-Level Exit
among Small Multi-unit Organizations,” was published in the
January–February 2006 issue of the journal Organization Science .
According to Swaminathan and his co-authors, it is commonly
understood that organizations learn not only from their own
mistakes, but also from the experiences of other organizations.
The research team examined significant events that promoted
the release of vicarious information such as turnover events,
where a store or outlet changes ownership, or going-out-of-busi-
ness events. They collected data on exits and entries for non-
franchised pizza restaurants, drug stores and video rental outlets
within each zip code in Texas over the period 1991–1999. Their
analysis shows that the likelihood of an outlet’s exit declines
when there are many ownership transfers and exit-entry pairs in
other markets where the owner also operates. The authors offer
two reasons why ownership transfers are likely to release valuable
information to competitors. First, ownership transfers allow
competitors to relate differences in business strategies between
new and previous owners, and competitors adapt their own
strategies in response to the turnover event. Second, competitors
glean information from newly hired employees previously
employed by the outlet undergoing ownership change.
Anecdotal data in the form of interviews with owners of pizza
restaurants, drug stores and video outlets further support the
researchers’ findings.
Swaminathan and his colleagues Professor Premkumar Devanbu
and Professor Michael Gertz, both of the UC Davis Computer
Science Department, were awarded a $125,000 National Science
Foundation research grant for their paper, “Mining Problem-solving
Behavior from Open Source Repositories.” Their interdisciplinary
collaboration builds on existing work by explicitly connecting
software engineering imperatives to the techniques of social science.
Swaminathan also participated in the keynote panel on research
programs in international business at the annual meeting of the
European International Business Association in Oslo, Norway,
in December.
www.gsm.ucdavis.edu/alumni/aspn.htm
1986 Kevin skaggs: I’ve started a blog: http://theformofmoney.blogharbor.com/blog
1987 Brian Watnick, esq.: I have opened my own law firm and continue to represent employers and insurance companies in worker’s compensation defense. Additionally, I obtained my brokers license and am now the managing broker for the Ventura office of Goodwin & Thyne Properties. We help buyers and sellers with real estate transactions and save them thousands of dollars as we only charge 1.5% commission!
1992 Karol aure Flynn: Matt and I are still living a remarkable life on the Flynn Ranch, with open space and fresh air for Lucy, 2, and Elsa, who is 2 months old. I’m taking on a few consulting projects but mostly loving my role as a mom.
dave Roughton: I recently was promoted from CFO to executive vice president, chief operating officer at SAFE Credit Union. In addition to my CFO responsibilities, which I retained, I am now responsible for the retail sales channel. My wife, Karen, continues to teach in the art department at American River College. Our daughter, Sydney, is a sophomore at the University of San Francisco. Our son, Patrick, is in eighth grade in Davis, experiencing all that it means to be a teenager.
1996 steve spadarotto: I am now senior vice president at Diageo Chateau & Estate Wines Co.—probably a reflection of how darned old I’m getting. I was recently appointed to serve a three-year term on the board of the Carneros Wine Alliance to assist them with enhancing their strategic focus. The Carneros Wine Alliance was the first trade association to give equal weight to the importance of both vintners and growers, when it comes to what is poured into a wine glass. I am looking forward to this opportunity.
1997 anne peairs cullen: My husband, Shawn, ‘97, was recently promoted to director, government and industrial products, for CamelBak Products. Shawn, Tucker, Chloe and I are enjoying life in Sonoma County.
Rory Jaffe: As executive director of medical services for the University of California Office of the President, I have management responsibility for oversight of clinical activities throughout the UC system. My role includes providing medical leadership and direction to the clinical policy review process; developing system-wide clinical policy, guidelines and best practice models for UC academic medical centers and medical staff; and ensuring compliance with UC, federal and state policies, laws and regulations.
Byron streitz: My wife, Cyndy, and I have relocated to Eagle, Idaho. We love it here. The people are very friendly. There is some beautiful country, and the real estate market is both hot and affordable compared to California. I’ve started a new career in real estate and am having a ball.
1998 Rosanna trevisan: 2006 is an exciting year for me and my family. My husband, Geoff, was offered an 11-month expat assignment at Intel in Malaysia. Since we both work for Intel, I was able to arrange an assignment managing a group of 16 planners in Intel’s assembly and test operations in Penang, Malaysia. Our son, Brian, 2 1/2, is attending a local Montessori school. Penang’s three main ethnic groups—Malay, Chinese and Indian—each have a unique cuisine and their own celebrations. In between the challenges of our assignments, we are planning to travel in Malaysia, Thailand and even Australia in the fall.
1999 Janet Brown: My husband and I began 2006 with a great blessing: the birth of our son, Francisco Javier. We’re exhausted but having a great time. In early summer I’ll return to work as a marketing brand manager for Valent USA.
marla denning: Jeff Oldberg ‘99 and I welcomed our son, Jackson Davis Oldberg, on March 8. I am taking a six-month maternity leave from Hewlett- Packard, which is one of the benefits of working for H-P. Jeff’s real estate business is going well.
matt mynttinen: May 1 was my last day at BearingPoint, and after seven years in Big 5 consulting I plan to take some time off. I will be spending the summer working on my house in Oakland and traveling in the U.S. In the fall I will head to Southeast Asia, India and maybe Europe for a few months. At the end of the year I expect to announce either a new job or early retirement on a Thai beach. Wish me luck!
mark schmidt: After being a member of SunPower’s IPO team (NASDAQ: SPWR) as the corporate finance manager, I’m transitioning to a new role. I’ll be the finance manager for SunPower’s North American distribution business, which is aiming to revolutionize the way solar systems are sold in this country. This new role will allow me to contribute to strategic decisions in a fast-growing business that is truly making a difference in the world.
Bert Wallace: I had a great time at Waste Expo in Las Vegas. But as the saying goes: what happens in Vegas, stays in Vegas.
2000 Ryan chin: I am on the board of the CAPITAL Foundation, www.capitalfoundation.org, a 501(3)c that is forging community strength through education and partnerships. Please contact me for information about becoming involved.
Kelly corliss: On July 20, baby number three was born. Sean was 9 pounds, 7 ounces; he loves being a baby brother to Nicole, 2 ½, and Justin, 4 ½. I am enjoying staying home full time.
tom Kindle: Jennifer and I are pleased to announce the birth of Elise Morgan Kindle on July 20, 2005. Elise weighed 5 pounds, 4 ounces and was 18 inches in length at birth. At 8 months she weighs a whopping 16 pounds and is 24 inches in length.
�0 • sPrinG / sUMMer 2006
www.gsm.ucdavis.edu/alumni/aspn.htm
GsM GraDs: let’s Do BUsiness
Alumni Strategic Provider Network By Vinny Catalano ‘97
We all went to the same outstanding business school, so why not do business together?
That’s the idea behind the new Alumni
Strategic Provider Network (ASPN), kicked
off in March. We are bringing together
Graduate School of Management alumni
involved in business-to-business services
such as law, tax, consulting, real estate,
financial planning, wealth management,
banking and employee benefits who you can
call upon to meet your company’s corporate
and your personal needs.
ASPN is being piloted in the Sacramento
region, where the group will meet monthly
to share referrals, network and hear about
current issues of interest to the group.
Once established, we plan to expand ASPN to
include all GSM alumni. We are looking for
leaders to spearhead the expansion into the
Bay Area and Southern California.
Questions? Please contact Alumni
Board member Vinny Catalano ’97 at
vcatalano@benefitinsurance.com.
To find out who is currently in the network and to join, visit:
�0 • sPrinG / sUMMer 2006
A l u m n i A s s o c i A t i o n c l A s s n o t e s
www.gsm.ucdavis.edu/alumni/update.htm
eric saldanha: After much deliberation, I decided to move back to my hometown of Buffalo, N.Y., in November 2005, to be closer to my family. I dearly miss my GSM “family” and hope that if any of you come to New York for business or travel, you’ll let me know.
dave setton: Rachel and I have a new arrival in our family. Zoe Hannah was born on February 22 at 2:10PM. She weighed in at 6 pounds, 13 ounces, and we think she is cute as a button.
2001 sara desmond: We are thrilled to announce the arrival of Lily Perini Desmond, who joined us on February 3 at 2:28AM after a pretty fast delivery (phew!). Born a healthy 7 pounds, 11 ounces and 20 inches long, she’s already put on lots of weight. Everyone is doing great, including big brother Rowan, who likes to give her big kisses and look at her “tiny legs.”
manish gajjar: My wife, Neeta, and I and our two beautiful kids, Aryan and Amani, are enjoying our time with my parents. With the tools I acquired getting my MBA, I find it easy to manage cross-country projects. I am today very proud to say that I graduated from the GSM. I just miss those hectic classes and friends.
Blake Johnson: Desiree and I are enjoying our move to Oregon, where I am currently work-ing for the state as a budget and policy analyst.
2002 cy aram: I am coming up on one year with Hewlett-Packard. I’m having a great time, and part of a—get this—all-male staff, most of them MBAs and all very bright. Makes for some good poker nights, too. I’m trying to find time for a Six Sigma certification. On the home front, I am looking to take a few vacations to warm, sunny, non-connected locations this summer. Cheers to all!
anna Becker: I am working at Microsoft, loving Tahoe living…and surprise! Jim and I have a new addition to our little family. Tommy joined big sister Kate in early March. We’re all doing well and are looking forward to a second informal Class of 2002 reunion some time this summer.
andy Bernadett: Sign of the apocalypse: I just read that fellow alumnus Pete Anderson is heading toward adulthood. That can’t be good. I am really having a great time: four kids in high school, lots of sports—especially basketball and tennis—and a really great wife. Pete, I’ve talked to some people who know, and they say adulthood is way overrated. Just don’t do it.
2003 Joe Kazmierczak: If you’re looking for something to read, check out The 33 Strategies of War by Robert Greene.
eric olson: Heather and I are happy to announce the arrival of Anna Faith Olson. She entered the world on March 3 and has been well received by big brother Grant.
gwynne spann: Last August, Jason and I welcomed our first child, Kayla Shelbourne, into our lives. I have since transitioned into a part-time position at Intel so that I can spend more time with our little one.
Jennifer vogt: As a senior internal auditor at Hewlett-Packard, I was recognized for outstand-ing leadership for overall Sarbanes-Oxley effort in 2005. I lead global treasury SOx testing. I moved to IT audit on February 1.
matt Weeks: Norma and I moved to Fresno in May, 2005, when I accepted a position as finance manager for E. & J. Gallo’s Fresno winery. We welcomed our son, Bryce, into this world on January 2006. He is the first grand-child on his father’s side of the family and has been showered with love and gifts.
daniel Weinreb: After a year in business-to-business marketing and a year consulting for Gartner’s public sector group, in 2005 I decided to go into non-profit work as a VISTA volunteer. The organization I’m with appreciates my MBA skills, and it is likely that I will join on as director. In my spare time I continue to enjoy puppetry and baking, and have taken up hunting and horseback riding. I am also work-ing on two start-ups, one in solar, the other in real estate.
2005 sean Foster: In April I moved from Peju to become the winemaker for Merryvale Vineyards. We are opening a new facility in south Napa this summer. Our goal is to craft elegant, complex, world-class wines in the finest European style that also reflect the exuberant fruit from Napa Valley’s finest vineyards.
connie Ward: After completing the MBA program, I was fortunate to start a new career working with GSIC Biologicals. Without my education, it would have been unlikely that I would secure such an excellent position.
UC Davis GraDUate sChool of ManaGeMent • �1
www.gsm.ucdavis.edu/alumni/update.htm
commencement ceRemonY & Reception
saturday, June 1� • 10:00aM – noon
Ceremony at Freeborn Hall, UC Davis Campus
Keynote Speaker: William Sullivan, President & CEO, Agilent Technologies
Reception in gsm courtyard (aoB iv)
noon – 1:00PM
executive leadeRship consoRtium WoRKshop
Wednesday, July 12 • 8:00aM – noon
Professor Kimberly Elsbach, UC Davis Graduate School of Management
Topic: Personalized Leadership Profile—Based on the Widely Acclaimed “Leadership Challenge” Model of Leadership by Jim Kouzes and Barry Posner
One Capitol Mall, Sacramento
www.gsm.ucdavis.edu/execed
executive leadeRship consoRtium WoRKshop
Wednesday, september 6 • 8:00aM – noon
Professor Joseph Harder, The Darden School of Management
Topic: Leadership in the Trenches: How Professionals Lead Everyday
One Capitol Mall, Sacramento
www.gsm.ucdavis.edu/execed
“looKing BacK, moving FoRWaRd”25th anniveRsaRY celeBRation KicK-oFF
friday – saturday, october 6–�
UC Davis Campus
• Dean’s Fall Luncheon on Friday Featured speaker: Bruce Bodaken, chairman, CEO and president, Blue Shield of California
• Silver Celebration, featuring time capsule, BBQ, presentations
• Special reunion for the Classes of ‘86, ‘91, ‘96 and ‘01
• Gala Celebration Saturday evening
uc davis gsm Fall 2006 mBa caReeR FaiR
thursday, october 12 • 6:00PM – 8:00PM
Freeborn Hall, UC Davis Campus
Alumni are encouraged to recruit MBAs for their companies.
Register online @ www.gsm.ucdavis.edu/MBACareerFair
executive leadeRship consoRtium WoRKshop
Wednesday, november 15 • 8:00aM – noon
Professor Daniel Cable, University of North Carolina, Chapel Hill
Topic: Organizational Culture and the Employee Value Proposition
One Capitol Mall, Sacramento
www.gsm.ucdavis.edu/execed
c A l e n D A R
UC Davis GraDUate sChool of ManaGeMent • �1
A l u m n i A s s o c i A t i o n c l A s s n o t e sof Alumni Events
tell Us What’s neW! senD Us yoUr Class notes online @
For the 11th consecutive year, the University of California, Davis, Graduate
School of Management has been recognized as one of the best business schools
in the country by U.S.News & World Report.
In U.S.News & World Report’s most recent annual survey, the magazine places
the UC Davis MBA program 21st among business schools at public universities
and 46th overall.
The UC Davis MBA program has been ranked in the top 50 every year since 1996,
and continues to be the youngest business school within a public institution ever
ranked by the magazine. With 117 full-time MBA students, it is the second smallest
business school ranked in the top 50.
The UC Davis Graduate School of Management is one of only 35 business schools
to be ranked in the top 50 for 11 consecutive years.
i n t h e t o p 5 0
11 Years
UC Davis GraDUate sChool of ManaGeMent
fall 2006 MBa Career fair
thursday, october 12 • 6:00PM – 8:00PM
freeBorn hall • UC Davis CaMPUs
reGister online @
R ec R u i t e R s — s a v e t h e d at e
www.gsm.ucdavis.edu/MBaCareerfair
www.gsm.ucdavis.edu
Nonprofit Org.
U.S. Postage
PAID
UC Davis