Published quarterly by UCLA Anderson School of Management
Dean Judy D. Olian, Ph.D. Takes the Helm
As the new year dawned at UCLA Anderson, so did a new era. On January 3, 2006, Judy D. Olian, Ph.D., took the helm as Anderson's eighth dean and holder of the John E. Anderson Chair in Management. Complete article>
|Taking the Lead in Social Entrepreneurship
The mark of a great leader can be measured by his/her legacy. The Haskamp Fund is one such legacy. Created by the Class of 1988 to honor their late classmate Heiko Haskamp, the Haskamp Fund grants fellowships to support first-year students working in non-profit or public sector summer internships. Complete article>
Bart Bronnenberg and the Start of Something New
For today's businesses, the battle to gain market share is intense. Modern consumers are often overwhelmed by a barrage of competing products and services, making it even more difficult to break into the marketplace with something new. Bart Bronnenberg, associate professor of marketing at UCLA Anderson, studies solutions to the problems associated with the growth and success of new products and has received several awards for his research. Complete article>
Anderson Puts the "L" in Leadership
Leadership, like any word, can be defined. Just open the American Heritage Dictionary and you'll find the aforementioned variations on the theme. Complete article>
Playing the Field
As with most skills, leadership is one that's best learned while doing. UCLA Anderson's Applied Management Resource Program (AMR) puts students in the position to do just that. Complete article>
|UCLA Anderson's Leadership Suite
The Right Executive Decision
Bettie Rabie works long and sometimes stressful hours as a manager in Hewlett Packard's Industry Standard Server (ISS) Division. When she learned HP tapped her to attend an invitation-only leadership institute at UCLA Anderson, the Houston-based executive's response was one of initial excitement, then curiosity. Complete article>
|Leading the UCLA Anderson Board of Visitors
Eugene Rosenfeld ('56), recipient of the 2003 UCLA Anderson Distinguished Alumnus Award, is the new chairman of the Anderson Board of Visitors. Since his days as an undergraduate at UCLA, Rosenfeld has demonstrated unwavering commitment to the university, its students and its mission. Complete article>
Dean Judy D. Olian, Ph.D. Takes the Helm
As the new year dawned at UCLA Anderson, so did a new era. On January 3, 2006, Judy D. Olian, Ph.D., took the helm as Anderson's eighth dean and holder of the John E. Anderson Chair in Management.
Dean Judy Olian comes to UCLA after five-and-a-half years as dean and professor of management at Pennsylvania State University's Smeal College of Business Administration. There, she led fundraising for a $68 million state-of-the-art facility, spearheaded renewals of all the school's degree programs and hired more than 50 faculty. She also oversaw the launch of the Smeal Trading Room; the eBusiness Research Center; the e-Incubator Lab; the Auctions Market Lab; the Nittany Lion Fund LLC, a student-run investment fund; and the Philadelphia-based Executive MBA. During her tenure, the college raised more than $55 million in private contributions.
Olian is widely published on human resource management and business alignment of management systems. At Smeal, she wrote a nationally syndicated newspaper column and hosted a monthly television program on business and management issues. She serves on the executive committee of the board of the Association to Advance Collegiate Schools of Business (AACSB International) and has chaired two industry-wide AACSB commissions addressing issues on the future of management education. Her honors include the American Council on Education Fellowship and the Maryland Association for Higher Education Award for Innovation.
Prior to serving at Smeal, Olian was senior associate dean and professor of management and organization at the University of Maryland's Robert H. Smith School of Business, where she developed an award-winning business-engineering undergraduate program.
A native of Australia, she holds M.S. and Ph.D. degrees in industrial relations from the University of Wisconsin, Madison, and a bachelor's degree in psychology from Hebrew University in Jerusalem.
As she settled into her new position at Anderson, Olian took the time to discuss with Assets her global vision for the school's alumni and the connections she hopes to foster during her tenure as dean.
As the new dean of UCLA Anderson, one of your key constituencies is an alumni population that spans the globe. The concept of "alumni relations" can be approached in different ways - the customer model vs. the community model, for example. How do you view your relationship to alumni, in general?
I view them as partners, in the most important sense of the word. We share the destiny of UCLA Anderson forever because the economic capital of our alumni is so intimately tied to the MBA degree and the reputation of the school -- and in our history, alumni have been a critical lever in advancing our reputation. They're a key ally not just in preserving the value of the UCLA Anderson brand but in enhancing it. The alumni serve as a tremendous resource in sending prospective students to us and in promoting Anderson in areas that business finds critical for emerging knowledge needs.
Of course we need to continue delivering valuable services in the form of lifelong education and career enhancement. In that sense alumni are customers, but I view them primarily as partners. Knowledge is always partnered. It is not just a one-way street.
What is the key to keeping that partnership strong year after year?
I think pride is the driving element that keeps an alumni partnership strong. We need to ensure that our students -- when here -- have a transformational experience, that they change intellectually and emotionally forever, that they develop strong connections that draw them back to us, and that we continue to be a source of pride to them long after graduation, in fact, forever.
In addition, we obviously need to make it easy for alumni to return to us and maintain a sense of freshness in their knowledge base. Education is a lifelong experience; you never really graduate. In this economy, the rate of obsolescence of knowledge is increasing all the time. We should be the partner of choice for every UCLA Anderson graduate's lifelong education.
How do you best serve alumni who live across the globe - who can't necessarily "come back" in the physical sense?
It's incumbent on us to provide many moments of connection that can occur between an alumnus and UCLA Anderson no matter where one lives. This could happen through regular communications vehicles - this magazine, online newsletters, meetings in regional locations - that are available to alumni across the globe. And of course, information technology enables learning opportunities that are accessible no matter where one lives.
It's also important for alumni to connect not just to the school itself, but to their peers -- others in their network -- who are tied to the school. It's about making sure that alumni's association with UCLA Anderson is always a mark of excellence. The most relevant, powerful product we have to offer is a series of contacts -- connections that can endure for life. These connections are amazingly valuable in both tangible and intangible ways.
What are some key strategic areas that you feel are most critical to developing these valuable alumni connections?
At this early stage in my tenure, I am formulating strategic ideas, so the comments I'll share are preliminary. That said, there's no question that UCLA Anderson has enormous strength in entrepreneurship, and we need to keep being the destination of choice for those entrepreneurs - whether they work in large corporations or on their own - who are seeking strategies for managing innovation and creativity.
Entertainment and real estate are huge strengths of the region reflected in the school, and I see great opportunities for our students and alumni through our programs. Southern California also is emerging as a biosciences powerhouse. In addition, I look to parts of Asia and its vibrant, rapidly growing economies. These are areas that we need to amplify in a variety of ways, not just physically connecting with alumni, but also identifying partners that can enhance our position in global business.
The challenge - and actually, it's an opportunity -- is to leverage our strengths and positioning as a global school that facilitates global thinking. Attracting international students and faculty is important, but it's key also to use international alumni as an extension of our home base. And we need to create a presence in those locations, whether it's through partnering with other schools, creating opportunities for extended internships, field studies, and so on.
What measures, beyond "giving financially," do you feel are of greatest significance or impact when it comes to alumni participation at UCLA Anderson?
There are various forms of engagement, and any connection is important. It doesn't necessarily start with a gift. So it is critical to identify and maximize the forms of engagement that motivate or excite alumni: sometimes it's mentoring, sponsoring interns, hiring graduates, participating in classrooms or engaging with others in the network. It all comes down to the fact that pride in UCLA Anderson is the glue holding us together.
Every alumnus is, in a sense, an agent for the school who helps extend our visibility, who develops Anderson's reputation across the globe. We must ensure as an institution that once students have a transformational experience they don't disconnect as graduates. There's so much excellence at work here, so much differentiation and expertise among the alumni. There's always a great story to be told, and often it's the connections within the Anderson alumni network that create the story.
One of the key focuses of the school should be on drawing and attracting alumni back home to experience that which we do best: expanding knowledge horizons and honing new skills. This is where lifelong education and career management services come in. We provide extraordinary executive programs that recharge the intellect and reignite the minds of our alumni. And the Parker Career Management Center continues to enhance and broaden its range of services to all Anderson MBAs.
In essence, UCLA Anderson should be the partner of choice for building knowledge and creating connections. The power of our network is one of the most valuable assets we have to offer.
Taking the Lead in Social Entrepreneurship
The mark of a great leader can be measured by his/her legacy.
The Haskamp Fund is one such legacy.
Created by the Class of 1988 to honor their late classmate Heiko Haskamp, the Haskamp Fund grants fellowships to support first-year students working in non-profit or public sector summer internships. These internships typically pay less than 50 percent of more traditional corporate options, so the fellowships provide much-needed income to community-minded students.
The fund was created by the Class of 1988 with its graduation gift and endowed by the class' 15-year reunion gift. It is named for Haskamp, who perished in a drowning accident in 1987. Well known among classmates for his gregarious and lively personality, Haskamp was a West German national who'd been born and raised in Hong Kong. He worked for Hewlett Packard in Europe before attending UCLA Anderson.
Fundraising for the Haskamp Fellowships falls under the responsibility of Anderson's Net Impact Club, a student organization that promotes such initiatives as non-profit management, social entrepreneurship, corporate and environmental responsibility, and socially responsible investing. The fund is administered out of the Harold and Pauline Price Center for Entrepreneurial Studies, and has raised money from alumni contributions and a series of first-year class initiatives, including a pledge drive to donate one day's summer pay to classmates with Haskamp Fellowships.
As a new group of interns vies for fellowships in summer 2006, Assets caught up with some of the Haskamp Fellows whose leadership potential was impacted by alumni and their own classmates in 2005.
Matt Davidson, ‘06
"Currently, the Pasadena Humane Society does not have an accurate determination of what it costs to care for each animal that comes through its shelter. This information is crucial to the society's fundraising efforts and budgeting process, yet heretofore they have relied only on a rough estimate of this cost. The project I undertook was to determine this cost of care. I wish to extend my deepest thanks to the Haskamp Fund and my classmates. Without their support I probably couldn't have helped as many animals through the summer and still supported myself."
Amanda Gehrke, ‘06
"Last summer I conducted policy and real estate analysis for Livable Places, a small non- profit organization in downtown Los Angeles. Livable Places develops sustainable, transit-oriented affordable housing in Southern California, and works with local government and community organizations to promote healthy communities through policy reform. My main task was a feasibility study to determine possible levels of affordability given current land and construction costs in Los Angeles County. I presented my findings to the board of directors, and the results will be used to determine the strategic course of Livable Places as it matures. In addition, I wrote grants, did policy research, and constructed a framework for the strategic plan the organization will use to guide its expansion. Thanks to the Haskamp Fund and my classmates, I had the opportunity to focus on a project that will improve the quality and supply of affordable housing in Southern California."
Christine Safriet, ‘06
"Last summer, I worked as a Policy Research Analyst for the Transportation and Land Use Coalition (TALC), a leading Bay Area nonprofit. My project, the Sustainable Transportation Funding Initiative, covered a range of topics, including the legislative process, transportation finance, environmental justice and regional planning. I researched current transportation funding streams, vetted a broad range of alternatives for generating new transportation funding and focused in on several promising options. The results of my analysis serve as the foundation for TALC's emerging effort to secure community and political support for a new regional transportation funding measure. This internship was made possible by the generous support of the Class of 2006, via their contributions to the Haskamp Fund."
Ravi Sreerama, ‘06
"I worked for a group in Hyderabad, India, known as BASIX. The organization's mission is to create sustainable livelihoods for the rural poor by providing both financial and technical assistance. For example, I focused on a project that was designed to revitalize the dairy industry at the state level (before scaling up to the national level). Over the course of eight weeks, I met with farmers and inspected operations - learning about the dairy industry from the ground up. Aside from gaining invaluable field experience, I was also exposed to the challenges that are inherent to collaborations with government agencies as well as other NGO's.
"My summer experience was something that I'm eagerly looking forward to building upon. In fact, I am already in talks with BASIX management to explore a joint venture with them after graduation that would combine my agricultural background with my interests in social entrepreneurship.
"Thanks to Haskamp and my classmates for the support. It was much appreciated as it afforded me an opportunity to do something that I might not have otherwise been able to do."
For today's businesses, the battle to gain market share is intense. Modern consumers are often overwhelmed by a barrage of competing products and services, making it even more difficult to break into the marketplace with something new. Bart Bronnenberg, associate professor of marketing at UCLA Anderson, studies solutions to the problems associated with the growth and success of new products and has received several awards for his research.
The most recent evidence of Bronnenberg's achievements is the 2005 John D.C. Little Award for his paper, "Market Roll-Out and Retailer Adoption for New Brands," with co-author Carl F. Mela of Duke University's Fuqua School of Business. Bronnenberg is the third member of Anderson's marketing faculty to win this award in the past four years. Given by the Institute for Operations Research and the Management Sciences (INFORMS) and named for its first president, the award goes to the best marketing paper published in the Marketing Science or Management Science journals.
"Product innovation is a vital ingredient in a manufacturer's long-term profitability," says Bronnenberg of his findings. "And obtaining broad circulation with placement in many outlets is essential for the success of initial offerings, so understanding retailer behavior relative to repeat-purchase merchandise is meaningful."
Geography: The Background Supporting Separate Structures
The award-winning work is one of Bronnenberg's most recent studies in a series on his specific focus for the last few years. Looking at local branding and the geographic aspects of marketing, he has been examining national brands for a variety of consumer goods. The catalyst was his ground-breaking investigation in 2000 of the major U.S. labels for Mexican hot sauce (Pace, Tostitos and Old El Paso) and tortilla chips (Doritos, Tostitos and Santitas). The study uncovered a huge disparity in the percentage of the market held by each company when comparing one region to another, and 65 to 95 percent of the variance was attributable to the location. This spatial dimension had been largely ignored in prior research. Unfortunately, not taking it into account can skew results in calculations used to determine the best allocation of marketing resources.
"We observed that these brands, which were equally large on the national level, had extremely different market shares in specific locales, often with one as an undisputed local leader and the other relegated to being just a fringe player," Bronnenberg says. "Finding what amounts to a one-brand monopoly in areas throughout the system was surprising to say the least, and there was no good explanation for it."
The reasons behind this divergence can be of critical importance to strategic decision-making. As Bronnenberg explains, these are very large patterns in the data and represent huge profit opportunities. However, the firms involved seem to accept their positions, which is inexplicable. They are sizable food conglomerates, like Campbell's and Frito-Lay, with more than enough money for what would be easy break-in moves. The question is: why don't they? Bronnenberg surmises that their attempts are either not effective or they just choose not to do it.
"These are fairly similar products that we are tracking, and most people would not be able to tell them apart in blind taste tests," says Bronnenberg. "The accepted assumption had been that their manufacturers would be actively competing against each other almost everywhere nationwide. That they are not is significant, since the way in which players of this size contend for sales against their rivals is a basic marketing topic that everyone should understand."
In addition, Bronnenberg has since discovered that these market-share structures are very stable, having remained virtually unchanged since the 1930s. Whether or not a brand was an early entrant into a particular market determined where it ended up being a dominant presence. Bronnenberg uses the history of key coffee labels Folgers and Maxwell House to illustrate this first-mover advantage. Both companies launched in the mid- to late-1800s, with Folgers first in San Francisco, and Maxwell House later in Nashville. Eventually, they spread out until they met roughly halfway across the country. As a result, Folgers maintains control in the west and middle of the United States, and Maxwell House is predominant in the east. The empirical footprint of these roll-outs is still discernible many years later.
Tracking Movement Through Time and Space
One explanation for the persistence of these original roll-out configurations is the subject of Bronnenberg's "Market Roll-Out and Retailer Adoption for New Brands." The novel way that Bronnenberg and co-researcher Mela looked at their unique data set caught INFORMS' attention. It also helped that the proposed econometric model works well with useful implications for marketers.
Examining evidence from the introduction of two very successful new entrants in the frozen pizza category (DiGiorno and Freshetta), this award-winning paper is the first to trace the time and space elements in the evolving distribution of new packaged goods. Key points in the launch process, manufacturer entry into a market and retailer adoption of the brand, have an obvious impact on the buildup of demand and resulting market share.
Manufacturers usually stagger the release of new products in phased regional roll-outs, rather than a more risky and costly national launch. For these brands, Bronnenberg's findings reveal that the sequential entry decisions depended on the proximity of the target market to those already entered and on whether or not chains in the area were selling the product elsewhere. Retailers' choices were based on the percentage of competitors within the trade territory that had made a prior decision to carry the merchandise. Clearly, location within the structure of U.S. retail trade is relevant.
"Most extant research for nondurable goods focuses on promotion and price, rarely on place, though there are notable exceptions," says Bronnenberg. "Unfortunately, those do not appear to be the determining factors that drive the decision-making process in these cases. This paper attempts to describe and define the importance of distribution in the management of new product introductions."
Looking Further Down the Road
While still in the speculative stage, Bronnenberg notes that these early results from his recent series of studies seem to suggest a different course for marketers. Popular practice at the moment emphasizes short-term strategies, like promotion-induced or price-induced sales, which may be equally shortsighted. He hopes ultimately to contribute to an alternative view that shifts resources to a more long-term approach. To that end, he believes that managers who are planning product launches would greatly benefit from the lessons learned by looking at the influences at work on the local level.
Bronnenberg is training those future managers in his classroom right now. His research results are incorporated into the curriculum of his courses, helping to equip MBA students with cutting-edge career tools. He wants to be sure they know the important questions to ask when evaluating new markets and products or services for them.
"Teaching reinforces the research for me," says Bronnenberg. "I find it to be a very intense experience and assume the learning experience is probably equally so for my students. It's a wonderful part of the job."
Building a foundation for Better Business
- The position or office of a leader: ascended to the leadership of the party.
- Capacity or ability to lead: showed strong leadership during her first term in office.
- A group of leaders: met with the leadership of the nation's top unions.
- Guidance; direction: The business prospered under the leadership of the new president.
(Source: The American Heritage® Dictionary of the English Language, Fourth Edition)
Leadership, like any word, can be defined. Just open the American Heritage Dictionary and you'll find the aforementioned variations on the theme.
But walk into any bookstore and peruse the shelves. There you'll find dozens of books by as many authors, each claiming to define the concept of leadership and instruct in the art of leading. Not so simple after all. A vast difference exists between the dictionary's general definition of leadership and each individual's unique experience of the concept. And if the mission of a management school is to produce great leaders, the challenge is first to define what "great leadership" means, and then create a way to teach it.
UCLA Anderson's answer to that challenge is Leadership Foundations.
Introduced with the Class of 2005, the two-unit Leadership Foundations course emerged in part as a response to feedback from recruiters and industry partners, who'd increasingly cited "excellent leadership skills" as a trait they were seeking in the school's newly minted MBAs. But while teaching management comes with specific criteria, the faculty soon discovered that "teaching" leadership brings a whole different agenda.
"Leadership Foundations is not based on and does not espouse one model of leadership," says David Lewin, senior associate dean and Neil H. Jacoby Chair in Management. "The faculty who designed and teach Leadership Foundations believe there is no one dominant feature of leadership, no single set of perspectives on the concept."
Instead, Leadership Foundations is designed to "enhance student knowledge and competency in leadership," according to the syllabus. The course begins with an emphasis on leadership at the individual level of analysis, moves on to consider leadership at the group or team level, and then takes up leadership at the organizational level.
Upon defining the curriculum, the faculty chose to introduce the course during orientation, recreating the incoming first years' experience around the concept of leadership. Professor Corinne Bendersky, who has participated in Leadership Foundations as one of several co-creators and an instructor since the program's 2003 inception, explains, "We decided to make orientation more rigorous."
Leadership Foundation runs five days, and as with the core, it is divided into sections. Faculty includes Lewin and Bendersky, along with professors Sam Culbert, Craig Fox, Sanford Jacoby and Barbara Lawrence.
On the first day, individual leadership strengths are assessed using the Strength Deployment Inventory (SDI). SDI measures an individual's orientation toward two different situational contexts: when things are going smoothly, and conversely, when conflict and opposition create unforeseen obstacles. Days two and three are devoted to leadership in the context of small groups and activities, including an outdoor "leadership odyssey," participation in conflict management scenarios and improvisational exercises.
Day five considers leadership on every level. Students analyze and assess the SDIs, this time working in small groups where each solicits and delivers feedback based on recent experience. The rest of the day is devoted to the completion of a "leadership map," or journal of sorts, which includes a summary paragraph detailing each student's leadership aspirations, an overview of his or her strengths and weaknesses (incorporating analysis by classmates) and a leadership development plan.
Coursework concludes with guest presentations by members of the UCLA Anderson Board of Visitors, who speak to students about their own leadership style and professional experiences.
The whole concept raises some philosophical questions: What makes a good leader? What are the most effective qualities of a leader? And, perhaps most importantly, can leadership be taught?
Since participating in Leadership Foundations, Nicole Adrien ('06) has become a leader in her own right: she is president of the Anderson Student Association (ASA). She says the best part of Leadership Foundations was the creation of her leadership map. "I liked the fact that we were able to document the specific course of action we planned to develop once we evaluated our strengths and weaknesses.
"The dynamic of being in a team, getting early feedback while surrounded by very talented people who were recently in the workforce, is great," she continues. "It's good to understand how your peers think and to adjust yourself accordingly as you enter a new world."
Lisa Castaneda (‘06) knows a thing or two about leadership herself. Her pre-Anderson career includes five years in the United States Navy. She cites the case studies and outdoor activities among her most memorable Leadership Foundations experiences. As for the former, Castaneda says the cases provided a safe, situational forum for each person to think about how they would approach different scenarios. "It's a muscle that needs to be developed," she says.
Adds Adrien, "Leadership Foundations definitely puts you out of your comfort zone and forces you to look at leadership in different ways. It's style specific. You learn that different lead ship styles and perspectives are necessary in the workplace. And one of the great things about business school is that you are able to test different styles of leadership without consequence. You are able to tweak yourself to see what works best for you."
This was the goal set by faculty who designed the course, says Professor Bendersky. "We intentionally built into the framework different ways of looking at leadership," she says. "We talked about how there was no one theory of leadership and we don't present any one leadership paradigm. The most important thing is for each student to hone their own style and skills."
That fits well with Castaneda's personal experience, her naval background providing another view on leadership -- one that is occasionally stereotyped by those who have not served. She says there is a perception of the military that suggests it embraces just one type of leadership. But that simply isn't so. "In my experience, the person you liked best had the better style," Castaneda reflects. "What I realized is that some people are charismatic leaders, but horrible managers. The leaders who were leaps and bounds ahead took a quieter approach but were savvy managers. They balanced the two.
"That's where I thought Anderson did a great job [in Leadership Foundations]," she continues. "I compared it to my ROTC instructors who didn't teach things like empathy and support. But Anderson did a great job developing empathy skills, getting people to know one another. It's easy to boss people around, but we're taught how to get people to follow."
In addition to Leadership Foundations, an associated required course titled Lifelong Leadership is presented to second-years just prior to graduation. The purpose there is to revisit lessons learned during the original Leadership Foundations course, and to examine how those lessons were reinforced (or not reinforced) throughout the MBA experience. It's an opportunity to reflect upon and revise leadership strategies and styles just prior to re-entering the workforce.
There have been three trials of Leadership Foundations to date and the responses, according to Dean Lewin, have been overwhelmingly positive.
"Each of the three times we've offered the course it's been similar," Lewin says. "The degree of specifics has improved, such as using a daily journal to inform the leadership maps. The specifics of the map also have improved: now we allow two separate opportunities for each participant to receive feedback and to use that feedback to redraft their map."
But as Lewin and the Anderson faculty continue to hone and refine the course, one question still remains: Can leadership really be taught?
Adrien offers this opinion: "Everyone has the potential to lead," she says. "But not everyone wants to lead. Leadership Foundations was an excellent opportunity for each participant not only to explore their own leadership styles, but also to gauge one's own leadership desires."
She pauses a moment to reflect. "After all, this is why we came to business school."
Playing the Field- Anderson's AMR Leads to New Careers
As with most skills, leadership is one that's best learned while doing.
UCLA Anderson's Applied Management Resource Program (AMR) puts students in the position to do just that. Commonly known as "field study," AMR is a required component of the full-time MBA experience. It is a prerequisite to graduation, comprising two academic quarters - 20 weeks - during which student teams consult on real-world, real-time issues. Such major firms as Hewlett Packard, Starbucks Corporation, Northrop Grumman Corporation and Microsoft are among the long list of client companies that pay a $5,000 fee to participate.
"Anderson's AMR program is the longest and most rigorous experiential learning program [among top-tier business schools]," says AMR Director Sarah Tucker. At the conclusion of each study, Anderson students are required to submit a detailed analysis of the field experience, which is reviewed and graded by a faculty committee. As Paul Brandano, associate director of the program, points out, "We are the only school to use field study as a comprehensive exam."
Technically, AMR serves as an "exit project" culminating in graduation and conferral of an MBA degree. But some projects manifest as an entry of sorts, with client companies so impressed by a field study's outcome that jobs are offered and careers begun.
Real World Leadership
One such project was conducted by Jonathan Bailly (‘03) of Dorchester Capital Advisors, a fund of hedge funds with over $900 million. Dorchester asked Bailly's AMR team to look at several issues, including a competitive analysis of the "fund of funds" industry, an investigation of distribution channels for the firm and the development of a framework for strategic growth.
"We were a strong, dedicated team in field study," Bailly says. "We actually sourced Dorchester ourselves, scoped out the project in advance of our summer internships and worked with Dorchester for six months during our second year, meeting with the company every week, either via conference call or face-to-face.
"They liked the results," he continues. "We gave them a mid-point evaluation to show what we had learned up to that point. Then they were really pleased with the results of the presentation and final paper, which we purposely did as a guidebook, or roadmap, of what the firm should expect as it got larger."
After the field study, Dorchester asked Bailly to stay on as a consultant, re-writing the firm's marketing collateral. In 2003, one of the partners recruited him to join the firm full-time as Dorchester's research director. He now co-manages funds with the portfolio managers, supporting the partners in new products and business development.
The roadmap that Bailly and his teammates wrote still exists, he says, but it's since evolved. And while the firm was impressed with the work, Bailly believes that 90 percent of why he was offered a full-time position resides in the personal relationships nurtured during the field study. "More important than just the deliverable was the camaraderie we developed over the nine months," he says, adding that Anderson receives due credit for making that happen.
"For me personally, one of the reasons I chose Anderson was that the school offered so many experiential opportunities outside the classroom," Bailly says. "Whether manifested by AMR or the ASAM fund, Anderson's culture is appealing to ‘can-do' personalities."
Dorchester continues to participate in the AMR program. In 2004, Bailly recruited Nicolas Amato ('04), and Amato now oversees the field study teams with whom Dorchester consults. The experience with UCLA has been a good one, Bailly says, and includes the participation of Professor Pedro Santa-Clara as an academic advisor. "We're a Westwood-based firm and we're small, so we have to be resourceful, including tapping into the talent at a leading business school," he says. "In the grand scheme, the AMR project fees and time involved are a small price for the value we get."
As for his own experience, Bailly says, "Being part of AMR was a great leadership experience -- pacing people, sharing work appropriately, managing client expectations. AMR is much closer to what you're going to experience in the real world than what you get in the classroom."
"An Unbelievable Opportunity"
Dan Mahoney ('04), VP of development for CJA Corporation, agrees, noting that "the whole concept of AMR is to add value to a business: applying the skills you learn in business school - the marketing course, the finance course, the real estate course - and putting them to use in the marketplace."
That's exactly what he and AMR teammate Jason Tolleson ('04) did with CJA, which at the time was a small, family-run real estate investment company. "Over the years they had compiled a nice real estate portfolio, but they wanted to become more active in developing residential real estate," Mahoney reflects.
The field study came about as a result of CJA's connections at Anderson's Richard S. Ziman Center for Real Estate. The AMR team was charged with investigating local infill development opportunities in which underutilized buildings would be replaced with more profitable structures. The team identified a single-family home on a local lot zoned for high density. Mahoney says his group recommended the lot be purchased and the house be replaced with a 10-unit condominium. CJA concurred. By the time Tolleson and Mahoney were collecting their MBA degrees, the company had completed the design and entitlement work and construction was set to begin.
Mahoney and Tolleson went on to work for CJA and the company now has a long list of projects. They've formed Serrano Development Group (www.serranodevelopment.com) to develop the properties they've purchased, bringing in friends and classmates from Anderson as investors. Even their mortgage broker is an alumnus, Steve Orchard ('04).
CJA continues to support the AMR program, Tolleson says. "Last year [the Anderson AMR] team looked at different geographic regions, and now they are looking at different project types."
For his part, Tolleson says, "an AMR project is a much better way to fulfill a thesis requirement than what you do at other business schools. It got us out into the real world and created an unbelievable opportunity."
If you represent a company that would like to participate in UCLA Anderson's AMR Program, please contact Paul Brandano at 310-206-8209 or email@example.com.
UCLA Anderson's Leadership Suite: The Right Executive Decision
Bettie Rabie works long and sometimes stressful hours as a manager in Hewlett Packard's Industry Standard Server (ISS) Division. When she learned HP tapped her to attend an invitation-only leadership institute at UCLA Anderson, the Houston-based executive's response was one of initial excitement, then curiosity.
Rabie's sentiments morphed once again as she became immersed in the Women's Leadership Institute, one of four separate executive education programs that comprise the UCLA Anderson Leadership Suite. Its counterparts include the African American Leadership Institute, the Latino Leadership Institute, and the Lesbian, Gay, Bisexual and Transgender Leadership Institute. Under the direction of Anderson's Office of Executive Education Programs, the week-long institutes examine management and leadership issues that pertain to each audience of high-performing executives.
"I was very surprised from day one," Rabie says of her experience in the Women's Leadership Institute. "There was value right from the beginning, and in every single session there was something in it for me." The majority of Rabie's classmates held MBA degrees and several worked in the high-tech industry, she notes.
The institutes have their origin in research done in the ‘80s by UCLA Anderson professor William Ouchi and his colleagues. They studied the voluntary termination rate of Asian American managers at several major defense and technology companies. Research findings indicated that cultural variables determined specific management styles and behaviors. Ouchi and his colleagues went on to create Leadership Education for Asian Pacifics (LEAP), which still exists today as an entity separate from Anderson.
Like LEAP, the four Anderson institutes delve into various aspects of team leadership, personal leadership, networking, mentoring and career planning. The emphasis changes from audience to audience, recognizing that race and gender issues inform each target group in unique ways. Participants walk away with tools and a framework in which to lead that is consistent with who they are.
Ongoing research remains an essential element driving the curriculum of Anderson's Leadership Suite. Says David Porter, assistant professor of management at Howard University and the faculty director of Anderson's African American Leadership Institute, "The core issues are the same, how to exert authority, for example, but we always keep the material current, bringing cutting-edge research into the program along with real-life anecdotes shared by faculty and participants. All of this combined makes the experience a much richer one."
The institutes employ a variety of teaching methods. Standardized tests such as Meyers Briggs are used, research and case studies are examined, and guest speakers are brought in to share expertise and insight. Self-assessment workshops, role playing and other small-group exercises stimulate participants to identify individual strengths and weaknesses when it comes to honing such skills as negotiation, problem-solving and career advancement. In-class discussion and debate is often lively and enlightening, as the participating managers, executives and high-potential leaders discover common ground with peers. New professional networks naturally form, and participants return to their jobs with a fresh perspective on management challenges.
A case in point: David Hayes-Bautista is professor of medicine and director of the Center for the Study of Latino Health and Culture in the division of General Internal Medicine and Health Services Research at UCLA's David Geffen School of Medicine. As faculty director of Anderson's Latino Leadership Institute, he presents a program that encourages Latino and Hispanic leaders to incorporate the "whole self" into their management style.
"In business and in the public sector, we encourage Latino executives to bring their ‘whole self' to work -- including their heritage," Professor Hayes-Bautista says. "It's better for their organization and it helps them become more effective leaders."
Both Hayes-Bautista and Porter emphasize that the institutes do not advocate any particular leadership style, but rather enable executives to identify and possibly modify an existing mode to achieve better results in business. Most importantly, the institutes are not taught from a victim's point of view.
"One thing that surprised me was there was nothing at all about pitting women against men," says HP's Rabie of the Women's Leadership Institute. "It was very clarifying to me to understand that when your values are different, perception is different. When being assertive is a value in a company and a woman is being collaborative, she could be perceived as weak, when in fact, she's quite strong. It's a whole different perspective. The focus the entire week was about understanding ourselves in the workplace and interpreting the data so we could be even more successful in business."
Spoken like a true leader.
Enrollment is now taking place for the African American Leadership Institute, (June 26-30, 2006), Latino Leadership Institute (November 13-17, 2006) and the Lesbian, Gay, Bisexual and Transgender Leadership Institute (June 12-16, 2006). More information is available on the web at http://www.execed.anderson.ucla.edu.
Eugene Rosenfeld ('56): Leading the UCLA Anderson Board of Visitors
Eugene Rosenfeld ('56), recipient of the 2003 UCLA Anderson Distinguished Alumnus Award, is the new chairman of the Anderson Board of Visitors. Since his days as an undergraduate at UCLA, Rosenfeld has demonstrated unwavering commitment to the university, its students and its mission. At Anderson, that commitment is embodied in the Eugene and Maxine Rosenfeld Library, one of the most visually striking buildings on campus. As Rosenfeld takes on his latest role as BOV chairman, Assets asked him to discuss his plans for Anderson and the board in the coming years.
What went into your decision to become Chairman of the UCLA Anderson Board of Visitors?
Well, I've had long history at UCLA and at Anderson. I came from a poor family and the business school at UCLA changed my life and I've always wanted to give back.
I was asked to become chairman, but I would have volunteered. I took the assignment and was happy to take it.
I'm the third chairman. John Anderson ('40) was first and Peter Mullin was second. John is a legend, with the school named after him. Peter's role was to move the board into becoming more active. Peter did an outstanding job, particularly with fundraising. I'm stepping into the role after two extremely talented people, and I'm honored to be able to follow those two guys.
The Board of Visitors, and you personally, were integral in Campaign Anderson. Could you please reflect back on the Campaign, which just ended in December?
The Campaign launched 10 years ago with a goal to raise $100 million. We started off very slowly, picking up momentum in the middle and ultimately surpassing our goal by $3 million. Really, the job was to sell people as to why we needed the funds. There's still the perception that we're a public university, so why do we need money? But state support has declined steadily over the years - just 21 percent of the school's budget came from the state last year. Once we had everyone's attention, and they realized the state doesn't support everything we do, things started to happen. Funding was raised to create new research centers, like the Richard S. Ziman Center for Real Estate and the Center for Finance & Investments. Alumni, friends and other donors saw the momentum and became convinced they should be a part of the campaign. I would like to give special mention to BOV member and campaign co-chair Kip Hagopian ('66), Senior Associate Dean Al Osborne and the Development team, led by Associate Dean Marcia Shackelford, for playing a major role in the campaign.
What's the role of the Board of Visitors, in your mind?
The board serves the school in an advisory capacity, but we aren't decision makers. We are a group of business people, for the most part, lending our knowledge and contributing money, suggesting ideas about where the school should be heading. There are a lot of smart people on the board and we have a really good relationship with the dean and the faculty.
We advise on the key issue of to how to make the school a better place. But it's members of the faculty, staff and administration who make the decisions.
The curriculum is one area where the board recently made some suggestions that the administration agreed to and acted upon. We had some thoughts on what the core subjects ought to be and how to better transform our students into leaders. We created a task force that suggested some courses and areas to be covered. There was a lot of emphasis on entrepreneurship, since so many BOV members are entrepreneurs themselves.
You mentioned leadership. This issue of Assets has leadership as its central theme. What type of leadership style will you employ as chair of the board?
Even though I'm the chairman of the board, it's not like running a company. It's more of a cooperative enterprise, setting the agenda. Each member is a leader; it's not a case of "I'm in charge and here's what I want." I look at it as a collaborative group, bringing forth ideas and formulating strategies on how to make the school better.
My hope is to keep everyone on the board enthused. I'd like to invite guest speakers, faculty -- even faculty from the outside -- to participate in our quarterly meetings. I want everyone to be engaged, find the meetings interesting. We plan to make things more interactive when we get together, engaging in workshops, striving to set goals and making recommendations to the administration.
Any particular pet projects you hope to work on?
I don't have a pet project at this stage. The Ziman Center has developed well. The new Center for Finance & Investments and the Harold and Pauline Price Center for Entrepreneurial Studies are both great projects and I would like to develop additional centers using the expertise of people on the board.
I also would like to keep attracting top faculty and students to Anderson. To do that we need to continue to raise funds to support endowed faculty chairs and student scholarships. At top schools like Harvard and Stanford, that's an important issue for them. It needs to be a top priority here, as well.
Anderson Assets welcomes input from alumni and the UCLA Anderson community for letters to the editor, articles, or ideas on themes.