GW Business Magazine | Spring 2017

T H E

G E O R G E

W A S H I N G T O N

U N I V E R S I T Y

S C H O O L

O F

B U S I N E S S

BUSINESS SPRING 2017

Duquès Hall C A T A L Y S T

F O R

A

R E M A R K A B L E T R A N S F O R M A T I O N

business.gwu.edu | 1

SPRING 2017 THE GEORGE WASHINGTON UNIVERSITY SCHOOL OF BUSINESS

F E AT U R E S

D E PARTME NTS

10 Duquès Hall: Catalyst for a Remarkable Transformation

16 Managing Star Performers: Critical Success Factor for 21st-Century Organizations 22

4 GWSB News Briefs

GWSB Supports Strong Capital Markets in Developing Countries

26 Learning by Doing: Putting Academic Knowledge to Real-World Use through Internships 30

2 Message from the Dean

20 Alumini Profile: Adam Wolken 25 Alumini Profile: Mary-Ann Guerra 34 Development + Alumni News

Why a Hippo?

38 Class Notes

Editor in Chief Dan Michaelis Copy Editor Mary A. Dempsey Contributing Writers Herman Aguinis Mary A. Dempsey Leah Kuppersmith Dan Michaelis Joan Ochi Ayman El Tarabishy Photographers William Atkins Logan Werlinger

2 | GWSB Spring 2017

Design GW Marketing and Creative Services GWBusiness magazine is published annually by the George Washington University School of Business Comments and letters are welcomed.

Please direct all correspondence to: GWBusiness 2201 G Street, NW Funger Hall 217 Washington, DC 20052 or: dmichaelis@gwu.edu

President Steven Knapp Dean Linda A. Livingstone Vice Dean for Faculty and Research James Wade Associate Dean for Graduate Programs Vivek Choudhury Associate Dean for Research and Doctoral Studies Angela Gore

Associate Dean for Executive Education George M. Jabbour Associate Dean for Undergraduate Programs Leo Moersen Senior Advisor to the Dean Denis Cioffi Assistant Vice President for Development and Alumni Relations Natalie Fleischman

business.gwu.edu | 1

Dear GWSB Community, It’s been a busy, exciting and very productive year at the George Washington University School of Business. Here in Washington, D.C., we have had a front-row seat for the change of administrations and all of the attendant challenges and opportunities that come with having a new president take office.

As you know, our location plays a major role in what sets us apart from other schools.

Just blocks from the White House, the State Department and the World Bank, GWSB is situated in the heart of Washington, D.C., where the public, private and nonprofit sectors intersect and interact. Of course, that doesn’t mean we’re parochially focused on what’s happening in “our neighborhood”—GWSB remains committed to engaging the world from the nation’s capital.

GWSB is also committed to providing the best business education available anywhere and to producing outstanding, ground-breaking academic research.

Thanks to our world-class faculty and top-flight student body, our efforts toward those goals are continuing to earn positive recognition—and it shows in the rankings.

Over the past year, the GW School of Business has done very well in some of the most important college rankings. U.S. News & World Report rated GWSB 38th in the nation, up five spots from 43rd in the previous year’s ranking. In the same survey, our highly rated International Business program also improved from 10th place to 8th place this year. In addition, the GW University was ranked 32nd among the “Best Colleges for Veterans,” up from 46th place the year before.

In other prestigious rankings, the Financial Times had GWSB 7th worldwide for International Business in its latest MBA survey and Bloomberg Businessweek rated our full-time MBA program 45th.

Message from the Dean

LINDA LIVINGSTONE “…GWSB remains committed to engaging the world from the nation’s capital…Thanks to our world-class faculty and top-flight student body, our efforts toward those goals are continuing to earn positive recognition—and it shows in the rankings.”

2 | GWSB Spring 2017

" In this issue of GWBusiness you’ll read about some of the people and programs responsible for driving our forward momentum in the rankings."

A separate U.S. News & World Report ranking of online graduate programs had GWSB’s online MBA program 29th in the United States, up from 44th last year, and the school’s non-MBA online graduate programs ranked 22nd. For “Best Online Computer Information Technology Programs,” a new ranking category this year, GWSB’s Online Master of Science in Information Systems Technology (MSIST) program was ranked 15th.

In this issue of GWBusiness you’ll read about some of the people and programs responsible for driving our forward momentum in the rankings. There is a lot of great, informative and entertaining material here, including an overview of Duquès Hall’s first decade, academic research on managing “superstar” performers, a report on our innovative Capital Markets Program, alumni profiles, a look at some fascinating graduate internships and—at long last—the answer to the question “Where did that hippo come from, and what’s he doing here, anyway?” I’m sure you’ll enjoy it.

Onward and upward,

Linda A. Livingstone, PhD Dean and Professor of Management The George Washington University School of Business

GWSB STATS U.S. NEWS & WORLD REPORT RANKINGS

38TH

IN THE NATION, FOR UNDERGRADUATE BUSINESS PROGRAM, UP FIVE SPOTS FROM 43RD FROM LAST YEAR

8TH

FOR UNDERGRADUATE INTERNATIONAL BUSINESS PROGRAM, UP FROM 10TH PLACE

32ND

AMONG THE “BEST COLLEGES FOR VETERANS,” UP FROM 46TH LAST YEAR

29TH

FOR ONLINE GRADUATE PROGRAMS, UP FROM 44TH LAST YEAR

15TH

FOR ONLINE MASTER OF SCIENCE IN INFORMATION SYSTEMS TECHNOLOGY (MSIST) PROGRAM

FINANCIAL TIMES RANKINGS

7TH

WORLDWIDE FOR INTERNATIONAL BUSINESS IN LATEST MBA SURVEY

BLOOMBERG BUSINESSWEEK RANKINGS

45TH

FOR FULL-TIME MBA PROGRAM

business.gwu.edu | 3

GWSB NEWS BRIEFS Curriculum

Event

GWSB Wins Major Grant “Through this grant we will have an opportunity to assist students in their pursuit of liberal arts skills which will ultimately help develop them into more effective and sophisticated global leaders.” — Anna Helm

AWARD

Joanna Shields, MBA ‘87, Wins GW Alumni Achievement Award Baroness Joanna Shields, OBE, MBA ’87, received a GW Distinguished Alumni Achievement Award during a ceremony kicking off Alumni Weekend 2016. A leading technology industry executive and entrepreneur, Baroness Shields currently serves as the United Kingdom minister for Internet safety and security and as Parliamentary under-secretary of state for both the U.K. Home Office and the Department for Culture, Media and Sport. Prior to her government service, she spent more than a quarter-century in the technology industry in key executive positions at leading companies including Aol, Facebook and Google.

“I really feel like without the leadership of my professors here, the entrepreneurship class that I took, the courage that it gave me to explore new technology and to believe in myself—I was very shy when I got here—to believe in myself enough to say I’m going to take a risk, and I’m going to jump in my car and move to California and be part of this digital revolution,” Baroness Shields said at the award ceremony.

Earlier in 2016, she was honored by AACSB International’s “Influential Leaders from Business Schools Challenge,” which recognizes business schools for their work in developing exceptional leaders and industry innovators. Baroness Shields delivered the keynote address at GWSB’s 2016 Master’s and Doctoral Commencement Celebration.

4 | GWSB Spring 2017

The George Washington University, the University of Miami and Washington & Lee University were awarded a Teagle Foundation grant for a joint-project, “An Internationalized Liberal Arts Curriculum for Undergraduate Business Education.”

The $170,000 grant will fund the project to develop and pilot curricular programming that embeds an internationalized liberal arts curriculum in undergraduate business schools, through sustainable collaboration between the liberal arts and business faculties at the three institutions.

“Our Teagle grant activities further strengthen the curricular improvements recently undertaken at GWSB that mobilize students to engage with disciplines outside of business,” Anna Helm, assistant teaching professor of international business and GW-CIBER business languages coordinator, said. “Through this grant we will have an opportunity to assist students in their pursuit of liberal arts skills which will ultimately help develop them into more effective and sophisticated global leaders.”

Seminar

Fall 2016 Career Fair Hundreds of GWSB students filled the 5th and 6th floors of Duquès Hall to meet with scores of recruiters from leading national and international companies during the F. David Fowler Career Center’s (FDFCC) Fall 2016 Career Fair. The event was sponsored

by Capital One, Deloitte and Macy’s Inc., and nearly 50 companies were represented.

The FDFCC Fall 2016 Career Fair gave students the chance to introduce themselves to company representatives, drop off their resumes, ask questions and learn about available internship and employment opportunities at dozens of top organizations, all in the space of a single afternoon. More than 450 students attended the event.

GWSB STATS 450+ STUDENTS ATTENDED THE 2016 CAREER FAIR 500+ STUDENTS PARTICIPATED IN CAREER WEEK A week prior to the fair, more than 500 GWSB students participated in Career Week, which brought to campus more than 50 executives from top companies for a program featuring panel presentations and one-on-one meetings with students. Career Week was presented by the Shenkman Career Services Fund, and sponsored by Capital One, Macy’s, Raffa and the Strategic Investment Group.

Diverse PhD Seminar “This unique seminar is built upon and reflects the goals of GWSB’s strategic plan, with its emphasis on multidisciplinary education and research, international focus and prime use of the school’s Washington, D.C., location…” — Herman Aguinis PhD students in the “Foundations of Management” doctoral seminar concluded the semester with presentations on their research on electronic performance management of employees, improving the

performance-review process, and successes and failures in nonprofit sector mergers and acquisitions, offering practical evidencebased recommendations on these critical business issues.

The “Foundations of Management” seminar is the first of its kind at GWSB, bringing together PhD candidates from the School of Business Management and Strategic Management & Public Policy Departments, the Organizational Sciences Program at GW’s Columbian College of Arts & Sciences, and GW’s Elliott School

Ranking

Moving Up! GWSB Climbs 5 Spots in U.S. News & World Report Ranking

“We appreciate the recognition for our innovative curriculum, highly professional advising services and outstanding co-curricular programming…”

— Leo Moersen, associate dean for undergraduate programs

“These numbers demonstrate why GWSB graduates are so in-demand with employers.”

— Gil C. Yancey, executive director, F. David Fowler Career Center

GWSB STATS

The latest U.S. News & World Report college ranking rated the George Washington University School of Business 38th in the nation, up five spots from 43rd in last year’s ranking.

GWSB’s highly ranked International Business Program also improved from 10th place to 8th place this year.

In addition, the GW University was ranked 32nd among the “Best Colleges for Veterans,” up from 46th place last year.

“We appreciate the recognition for our innovative curriculum, highly professional advising services and outstanding co-curricular programming,” Associate Dean for Undergraduate Programs Leo Moersen said. “Our faculty, staff, student body and alumni all deserve a share of the credit for helping GWSB move up in this prestigious ranking.”

“These numbers demonstrate why GWSB graduates are so in-demand with employers,” Gil C. Yancey, executive director of the school’s F. David Fowler Career Center, said. “We are very proud that our graduates leave here not only with a first-class business education, but also well prepared to pursue their career goals.”

GWSB UNDERGRADUATE PROGRAMS MOVED UP FIVE SPOTS TO 38TH FROM 43RD

of International Affairs. Herman Aguinis, Avram Tucker Distinguished Scholar and professor of management, who teaches the seminar, said that the diversity of academic interest and backgrounds of the candidates broaden the scope of their research.

“This unique seminar is built upon and reflects the goals of GWSB’s strategic plan, with its emphasis on multidisciplinary education and research, international focus and prime use of the school’s Washington, D.C., location,” he said.

International

Asia Business Leaders Conference A group of noteworthy GWSB alumni—Dr. Soon-Young Chang, DBA ’86, founder and chairman of Midas International Asset Management; Simon Cheong, MBA ’83, founder of property developer SC Global Development Company; Dr. Jianhai Lin, DBA ’86, secretary, International Monetary Fund; and entrepreneur Sandiaga Uno, MBA ’92—visited campus take part in the GWSB Asia Business Leaders Symposium.

The businessmen participated in a panel discussion and Q&A session moderated by GWSB Dean Linda Livingstone, and afterwards met and chatted with audience members, including GWSB students,

faculty and alumni, during an informal networking reception.

“The panelists shared unique insights on their professional journeys and the leadership lessons they have learned along the way. They also noted the significant impact GWSB, their professors and their classmates had in shaping who they are today and the success they have achieved.” Dean Livingstone said. “It was a great honor to host these accomplished alumni for such an important, informative forum.”

Each of the special guests received an honorary Distinguished Research Professor in Residence award from GWSB.

business.gwu.edu | 5

GWSB NEWS BRIEFS Faculty

Program

Dean Livingstone One of D.C.’s ‘Women Who Mean Business’

GWSB STATS

Dean Linda Livingstone was one of 25 local leaders selected for the Washington Business Journal’s annual “Women Who Mean Business” feature, highlighting the contributions of an outstanding group of Washington, D.C.-area women in business, finance, the arts, media, the nonprofit sector, the medical and legal professions, and of course, academia. The publication

18 FELLOWS IN 12 NATIONS IN AFRICA AND ASIA “The eightmonth program aims to bridge the opportunity gap for… professionals from financial and regulatory institutions across… emerging economies…”

students are more willing to travel outside the United States for education than ever before.

Dean Livingstone and her fellow “women who mean business,” were honored at an event hosted by the publication in October.

Dean Linda Livingstone was one of 25 local leaders selected for the Washington Business Journal’s annual “Women Who Mean Business.”

Event

Capital Markets Program Speaking at GW, Mike Milken said the key to raising up disadvantaged populations in sub-Saharan Africa and other developing regions is giving them hope that a better life and more opportunities are ahead.

Mr. Milken, International Finance Corporation (IFC) Vice President and Treasurer Jingdong Hua, GW President Steven Knapp and other leaders from academia and the

Graduate Studies

MBA Marketing Class Helps Put Tysons ‘On the Map’ Two teams of MBA candidates spent part of the summer session working on a live client project for Tysons Partnership (TP), a public-private coordinating and advisory body dedicated to promoting the northern Virginia community. The project was a component of a course on strategic brand management taught by Salah S. Hassan, professor of marketing.

The project included analysis of the competitive space that the Tysons brand occupies in the marketplace.

One team focused on the residential segment while the second team looked into the commercial market.

Collaboratively, the two teams considered TP’s vision, mission, promise, programs and events.

Interviews with residents, employees and visitors helped define the strategic boundaries within which the brand competes. Further analysis of “Tysons the Brand” produced recommendations, including designing an integrated brand communication program.

6 | GWSB Spring 2017

described choosing the honorees for its 13th annual “Women Who Mean Business” recognition as “the most difficult selection we’ve encountered. We had innumerable nominations pour in from exceptional women all over our region.”

In her profile, Dean Livingstone discusses her background, her first two years at the GW School of Business and the evolving nature of business education. “The quality of business education is continuing to increase.

That makes it much more competitive to recruit students, particularly at the graduate level,” says Dean Livingstone, adding that

financial and development industries gathered at the GW Milken Institute School of Public Health for a luncheon to celebrate the Capital Markets Program, a joint endeavor of GWSB, the IFC and the Milken Institute.

The eight-month program aims to bridge the opportunity gap for mid-career professionals from financial and regulatory institutions

Graduate Studies

Grad Students Research the ‘Sharing Economy’

How is the “sharing economy” affecting the hospitality sector?

Stuart Levy, associate teaching professor of management, and a group of graduate students devoted a summer-session class to in-depth analysis of the emerging peer-topeer marketplace in the lodging, dining, transportation and attraction industries.

The course, “California: A Journey Through the Sharing Economy: Customer Experience Fieldwork in San Francisco,” was built around online

across developing and emerging economies and to provide them with technical expertise as well as hands-on exposure in capitalmarket development, an essential component to creating prosperous societies. There are 18 fellows in the 2016-17 cohort from 12 nations in Africa and Asia. (See article, pg. 22.)

classes and a seven-day field residency in the City by the Bay, where students conducted customer experience analyses and met with executives at AirBNB, Uber and Feastly to share their findings. The students also shared their research and impressions of the sharing economy on their blog about the course.

According to a 2014 PricewaterhouseCoopers report, nearly 20 percent of the U.S. adult population has engaged in a sharingeconomy transaction. Most consumers familiar with the sharing economy perceive that it promotes affordability, sustainability and builds stronger communities. At the same time, peer-to-peer experiences are often considered to lack consistency, and suffer from a lack of trust.

A Major League Presentation Faculty, staff and students— including members of the GW baseball team—got a unique look at the business of baseball during “A Conversation with Rob Manfred, Commissioner of Baseball.” Mark Hyman, assistant teaching professor of management, moderated a panel discussion between the commissioner and top baseball writers Richard Justice of MLB.com and Tim Kurkjian and Claire Smith of ESPN. Commissioner Manfred discussed the recently concluded collective-bargaining agreement between Major League Baseball (MLB) and the MLB Players Association, possible rules changes aimed at speeding up the pace of games, MLB’s youth baseball program in minority neighborhoods around the country, the positive impact of new ballparks on urban development, and the game’s global profile. On the last subject, Commissioner Manfred said he would like to someday see international expansion for MLB, with a new team in either Canada (already home to the Toronto Blue Jays) or Mexico.

In her welcoming remarks, Dean Linda Livingstone thanked Professor Hyman and Lisa Delpy Neirotti, associate professor of sport management and head of GWSB’s Sport Management Program, for organizing the event.

Commissioner Manfred discussed the recently concluded collective-bargaining agreement between Major League Baseball (MLB) and the MLB Players Association, possible rules changes aimed at speeding up the pace of games, MLB’s youth baseball program in minority neighborhoods around the country, the positive impact of new ballparks on urban development, and the game’s global profile.

Faculty, staff and students—including members of the GW baseball team—got a unique look at the business of baseball during “A Conversation with Rob Manfred, Commissioner of Baseball.”

business.gwu.edu | 7

GWSB NEWS BRIEFS Event

Lights, Camera, Action!

A video documentary crew was on campus to interview faculty and students for a segment of Voices in America’s “Leaders in the Future of Education” series.

Dean Linda Livingstone, Professor Vanessa Perry, Bryan Andriano, executive director, Global & Experiential Education, and students Hillary Kirtland, MBA’17, and Juan Clar, MBA ’17, sat for on-camera interviews to discuss the state of business education, and how GWSB prepares students to meet the challenges and take advantage of the opportunities in today’s rapidly changing business environment.

The interviews also focused on GWSB’s commitment to better business for a better world, through education and cutting-edge business research.

Voices in America’s business documentaries feature “[t]hought leaders and industry professionals” and “new and innovative concepts across various industries,” and its education segments highlight “groundbreaking institutions of learning,” so GWSB was a perfect fit for the series.

The all-day shooting schedule consisted of the interviews and footage of students, faculty and staff going about their business during a “typical day” in Duquès Hall.

The four-minute segment, hosted and narrated by popular, veteran actor—and one of the most distinctive and recognizable voices in show business—James Earl Jones, aired between programs on PBS stations nationwide.

Event

2016 D.C. ‘Climathon' Event

KMI: Strengthening U.S.-R.O.K. Ties In January, the Korean Management Institute (KMI) at the George Washington University School of Business hosted its annual conference on the current status of South Korea.

The conference program included a special introduction and welcome from GW President Steven Knapp, followed by a welcome address by Ambassador Ahn Ho-Young, Republic of Korea. A memorandum of understanding between GW and the PyeongChang 2018 Olympic International

GWSB Goes for the Gold Lisa Delpy Neirotti, associate professor of sport management and director of the Tourism Administration Program, and 27 GWSB students traveled to Rio de Janeiro, Brazil, last August, as part of Dr. Delpy Neirotti’s “Behind the Scenes at the 2016 Summer Olympic Games in Rio” course.

While in Rio, the students—two undergraduates in the Bachelor of Business Administration program, the rest 8 | GWSB Spring 2017

and Paralympic Winter Games was signed, with the goal of strengthening relations between the two countries and representing GW’s support for the upcoming games.

Dr. Hee-Beom Lee, president and CEO of the PyeongChang 2018 Olympic and Paralympic Winter Games and GWSB visiting professor of management, was honored for his connection to the university as an alumnus and a faculty member.

His keynote address, “Distinguished Past, Dynamic Present and Exciting Future,” provided an overview of the Republic of Korea’s path from a poor nation in the late 1940s to the economic powerhouse it is today, as well as a preview of the

graduate students in the Master of Tourism Administration and Master of Business Administration programs—conducted research on all aspects of the games, visiting various event venues and meeting with International Olympic Committee (IOC) members and staff, Rio Organizing Committee executives, U.S. Olympic Committee representatives, Olympic sponsors such as Coca Cola and GE, volunteers and athletes.

A major component of the students’ on-site experience was working with the IOC on evaluating the usage of space at

planned opening ceremonies for the 2018 winter games.

KMI’s Executive Director Ayman El Tarabishy, associate teaching professor of management, explained that the institute brings together a wide range of academicians, researchers, business people, policymakers, government experts, students and others who have an interest in U.S.- Korea relations.

Their interaction with the institute through a portfolio of diverse programs—classes, workshops, international exchange, executive education and research—is aimed at enriching their professional experience and contributing to a greater understanding of U.S.-Korea relations.

all 28 sports venues. They also conducted surveys of spectators and filed blog posts throughout their time in Rio. Prior to departing for the Olympics, students attended on-campus lectures and were assigned a research paper on one of a variety of topics related to the event, including: financing the games, security, licensing, sponsorship, media issues, ticketing, sustainability and the Olympic legacy.

The Rio games marked Dr. Delpy Neirotti’s 18th time attending the Olympics and her 14th with a GWSB class.

The event focused on diverting durable goods—such as furniture and small appliances—from the waste stream and reintroducing them back into the productive economy. Durable goods make up approximately 20 percent of the national waste stream.

Dozens of social entrepreneurs gathered at GWSB to tackle complex climate and waste-management issues as part of the international “Climathon.” The D.C. event was one of 59 taking place simultaneously in major cities around the world, aimed

at developing solutions to address global climate change at the local level.

The event focused on diverting durable goods—such as furniture and small appliances—from the waste stream and reintroducing them back into the productive economy. Durable goods make up approximately 20 percent of the national waste stream.

Six teams presented innovative design solutions to a panel of local experts.

Project proposals included modular furniture and designer clothing created from reused durable goods, college moveout collection and resale, and an electronic appliance salvage service. The D.C. Climathon was sponsored by a partnership between the George Washington University and the D.C. Department of Energy & Environment.

Six teams presented innovative design solutions to a panel of local experts. Project proposals included modular furniture and designer clothing created from reused durable goods, college move-out collection and resale, and an electronic appliance salvage service.

Duquès Hall C ATA LY S T

F O R A R E M A R K A B L E

T R A N S F O R M AT I O N

By Mary A. Dempsey

10 | GWSB Spring 2017

business.gwu.edu | 11

“Duquès Hall was a catalyst for so many things,” Dr. Phillips said. “As we created this new space and got the entire faculty under one roof, they started working more together, facilitating joint research. Morale went up.

We began to attract even better faculty.”

“It’s about people like me taking classes and loving the experience and wanting to give back...”

Henry “Ric” Duquès, BBA ’65, MBA ’69

12 | GWSB Spring 2017

W

hen Henry “Ric” Duquès, BBA ’65, MBA ’69, and his wife Dawn, BA ’69, donated $5 million to a new School of Business building a decade ago, they wanted to help consolidate the thenfragmented business education program under a single roof.

They succeeded. But they also kicked off changes that reverberated across the entire George Washington University.

“I had a wonderful experience at GW, and I was grateful for the basketball scholarship that allowed me to study at the university,” said Mr. Duquès, a partner with DD Hotels, a private company that invests in hotels in New England. “I loved accounting, and the head of the accounting department when I was there, Professor E.J.B. Lewis, mentored his students. I was always grateful

for his involvement.” Recognizing the critical role that faculty play, Mr. Duquès first considered funding a fellowship for professors “because I know you need top professors to get top students.” But he discarded that idea after a 2005 tour of the Hall of Government building at 21st and G streets, the de facto anchor for the business school since 1938.

“In 40 years since I studied there it hadn’t changed a bit,” he said. Students had no study rooms so they sat on the floor outside the dean’s office on the second floor. The business school’s board met in a basement classroom. Classes and faculty offices were scattered across the Foggy Bottom Campus.

Thanks to the Duquèses’ generosity, the School of Business was transformed into a cutting-edge facility with a revamped

curriculum and rising rankings. But the impetus went even further. The building project introduced energy efficiency standards to GW’s campuses, pioneered a new alumni financial support mechanism for schools and helped speed GW’s transformation from a commuter school to a world-class university that attracted students from across the country and around the world.

At the time of his 2006 gift, Mr. Duquès was CEO of First Data Corp. and a member of the GW Board of Trustees. In 1993, he had received the university’s Alumni Distinguished Achievement Award. Dawn Duquès, meanwhile, earned a bachelor’s degree in education at GW followed by advanced degrees from Columbia Teacher’s College. Dr. Duquès remains engaged in the field of education.

In some ways, the couple’s philanthropy was a thank-you to the university that brought them together.

“Ric was in a fraternity and one of his closest friends was dating one of my closest friends,” said Dr. Duquès, who transferred to GW in her junior year from Boston because the serial killer known as the Boston Strangler was still at large. “We married nine months from the date we met.”

Mr. Duquès is more precise: “We met on Sept. 12, 1964, and we married on June 12, 1965.”

Two of the couple’s four children— David Duquès, BBA ’97, and Tiffany Callaghan, BBA ’02—attended GWSB. David is an investor in the Miami area.

Tiffany is in New York.

Alumni respond to the challenge It has only been 10 years since Duquès Hall replaced what had been a parking lot.

However, most students—and even some faculty—are unaware of the multiplier effect created when D.C. architectural firm SmithGroupJJR was hired to design

a 167,000 square-foot structure adjacent to Funger Hall. Construction company Whiting-Turner was tapped to build it.

“When I came to GW in 1998, the university administration knew that the business school needed a new building. And our previous accreditation by the AACSB [Association to Advance Collegiate Schools of Business] mentioned that we did not have adequate facilities,” said Susan Phillips, the former GWSB dean who shepherded the construction of the new school.

“Originally we were thinking of just putting a freestanding building up. But when you start figuring out how many faculty you need and the need to get everybody under one roof, it became clear that we had to connect to Funger Hall.”

The price tag for the new complex was estimated at $30 million, with $10 million to be raised through a fundraising push that engaged alumni. That three-year campaign was expanded to include the naming gift from Mr. and Dr. Duquès, as well as separate gifts for rooms in the building, some furnishings and the new school’s cuttingedge technology.

Norma Lee and Morton Funger, AA ’52, BA ’53, for whom the connecting building was already named, provided a generous contribution to upgrade Funger Hall as part of the construction. Mr. Funger is a GW trustee emeritus and the founder and chairman of FedEx. Plaques on rooms throughout Duquès Hall provide a “Who’s Who” of the alumni behind other major gifts. Many also sat on the project’s steering committee, which was chaired by former GW Trustee Clifford Kendall, MBA ’65, co-founder of Computer Data Systems and former president of the Greater Washington Board of Trade. Mr. Kendall and his wife, Camille, funded the first-floor auditorium that bears their name.

Partners at KPMG provided the funds for the F. David Fowler Career Center, named for their former colleague and the dean who preceded Dr. Phillips. A classroom bears the

name of Shenkman Capital Management President and Chief Investment Officer Mark Shenkman, MBA ’67. A corner lounge is named for Dr. Phillips’ father. The list goes on.

Duquès Hall set new standards for “smart” classrooms. GW trustee George Wellde Jr., MBA ’76, and his wife, Patricia, donated funds to equip the Capital Markets Room, one of the most groundbreaking features of the school. This space allowed the launch of an MBA portfolio fund through which students invest and manage real money.

Profits are reinvested and the $1 million seed money from financier Russell Ramsey, BBA ’81, and his wife, Norma, has swelled toward $2.5 million.

Dr. Phillips raised another $250,000 for a similar undergraduate fund; the GWSB Board of Advisors and alumni later boosted that to nearly $1 million upon her retirement. Today the Phillips Student Investment Fund contains close to $1.5 million.

A tiered lecture room carries a plaque in memory of Benjamin Burdetsky, a professor and dean of the school who served on First Data’s board of directors from 1992 until his death in 2000. The great hall on the first floor of the building is named for Raymond J. Oglethorpe, MSAdmin ’69, former president of America Online. Deloitte provided a corporate gift to name the lobby on the building’s sixth floor.

With a new building, the GWSB Board of Advisors became more active and local businesses began engaging with the school.

Alumni started returning to their alma mater to give lectures and mentor students.

Embedded in the floor of the Duquès Hall lobby is a global map, a reminder of the school’s well-regarded international business program—not far from the Elliott School of International Affairs, the World Bank and other international agencies—and a bellwether of the cross-disciplinary research and partnerships the university now embraces.

business.gwu.edu | 13

“The building has an influence on our ability to recruit and support students and faculty,” Dr. Livingstone said. “It gives us a sense of identify and place. It allows us to effectively provide a coherent experience for the students.”

14 | GWSB Spring 2017

“Duquès Hall was a catalyst for so many things,” Dr. Phillips said. “As we created this new space and got the entire faculty under one roof, they started working more together, facilitating joint research.

Morale went up. We began to attract even better faculty.”

Indeed, GWSB became a general selling point for students considering a GW education.

“I got a chuckle when, as soon as the building opened, the student tours made Duquès Hall No. 1 on their list of stops,” said Dr. Phillips. Non-business majors started taking their elective courses at GWSB. During exams students—and not just business students—petitioned the dean’s office to keep the beautiful new building open late.

Beyond GWSB itself, several of GW’s dormitories also owe their existence to the new building. In a GW appeal that went as far as the U.S. Supreme Court, which declined to hear it, the District of Columbia Zoning Commission put a condition on the new school’s construction: It had to come in tandem with more student housing. Three new dorms were planned or erected even before ground was broken on Duquès Hall.

Today from her light-filled office on the top floor of Duquès Hall, Dean Linda Livingstone can watch the sun rise over the Washington Monument, a reminder of both the school’s coveted location and the university’s namesake.

“The building has an influence on our ability to recruit and support students and faculty,” Dr. Livingstone said. “It gives us a sense of identify and place. It allows us to effectively provide a coherent experience for the students.”

She added that the design of the building, including the multiple study and lounge areas (refurnished in 2016 through a gift from GW Trustee and RBC Wealth Management Senior Vice President Steven Ross, BBA ’81) encourages student interaction with one another and with faculty.

Mr. Duquès admits a small thrill when he returns to the building bearing his name.

“It’s about people like me taking classes and loving the experience and wanting to give back,” he said. GWSB

business.gwu.edu | 15

Managing Star Performers: CRITICAL SUCCESS FACTOR FOR 21ST-CENTURY ORGANIZATIONS

By Herman Aguinis, Avram Tucker Distinguished Scholar and Professor of Management

STAR PERFORMERS are those individuals who produce a disproportionately large amount of results and value for their teams and organizations—be it basketball points, shareholder wealth, Emmy awards, sales or scientific publications.

Using a pizza analogy, although their slice is usually larger than those of others (e.g., higher salary, better perks), star performers have the effect of making the pie larger for the entire organization because, through their behavior and results they produce, they improve the productivity of those around them.

16 | GWSB Spring 2017

M

any of us are familiar with highly visible star performers such as Tesla Motors CEO Elon Musk, who created the online purchasing service PayPal, and CEO Howard Schultz, who turned Starbucks into the largest coffeehouse company in the world. We are also familiar with star performers in the domain of sports. For example, quarterback Peyton Manning led two different teams (the 2006 Indianapolis Colts and the 2015 Denver Broncos) to Super Bowl victories and set numerous individual records along the way, including most passing touchdowns in a season.

Because of Mr. Manning’s influence on the team, the 2013 Broncos broke the previous record and had five players with 10 or more touchdown catches in a season. In a nutshell, star performers produce more than other individuals, help increase the productivity of those around them and have an important impact on the performance of their organizations as a whole.

Research we have conducted over the past eight years on more than 600,000 professional and collegiate athletes, CEOs, politicians, electricians, fundraisers, call center employees, researchers, and people in many other occupations has provided evidence that star performers are not only found in the executive suite or in the form of extremely successful entrepreneurs and athletes, but they exist throughout all levels of the organization. Also, our research debunked a belief that has influenced organizational practices for decades: The myth that performance follows a bell-curve distribution. If performance is believed to follow a bell curve, the majority of scores should fall close to the mean (i.e., the center of the distribution), with relatively few scores falling at either the low or the

high extremes. What this implies is that the majority of people are assumed to perform close to the average level, with very few people actually achieving a level of performance that would place them in the category of being a “star.” This is the distribution that many organizations, such as GE, IBM and Sun Microsystems, have used in requiring managers to assign a set percentage of their people to each of the performance categories. This practice restricts the number of employees who can get in the top bracket and instead clusters the majority around the average (i.e., center) of the distribution.

STATS

high number of scientific publications. The contrast between what was expected based on a normal curve and what the empirical results showed is included in Figure A. This number is more than 13 times as many as what would be expected if the normal distribution were true. This same result was replicated across a variety of jobs as well.

In a sample of 3,300 entertainers that were nominated for a Grammy, five would be expected to receive at least 10 nominations under a normal performance distribution.

However, 64 artists have received more than 10 nominations (see Figure B). Out of 8,976 individuals who have served in the U.S. House of Representatives from 1789 to 2009, 13 are predicted to have served 13 terms or more if the normal curve represented the data well. However, 173 representatives have served over 13 terms (see Figure C). This same pattern appeared time and time again, regardless of the type of industry and job. It is becoming apparent that the performance distribution is not normal in most cases and, consequently, star performers are more common than previously assumed.

One reason why our research uncovered

RESEARCH — 8 YEARS & 600,000+ PROFESSIONS "…star performers are not only found in the executive suite or in the form of extremely successful entrepreneurs and athletes, but they exist throughout ALL levels of the organization" — HERMAN AGUINIS

Our research discovered that in the majority of industries and occupations the performance distribution follows a heavytailed distribution rather than a bell curve, and these distributions are very different from each other. Under a heavy-tailed distribution, we expect to see many more star performers than under the normal distribution. For example, we gathered journal publication data for more than 25,000 researchers across more than 50 scientific fields including physics, dentistry, history, mathematics, social psychology, social work and many others. If the data followed a normal distribution, there should be approximately 35 researchers with about 10 publications or more each (three standard deviations above the mean). In contrast, results showed that there were 460 individuals who have produced in that

that star performers are more frequent now than in 20th-century organizations is that in the last century the economy was driven by manufacturing. In 1913, Henry Ford perfected the assembly line in helping to build the Model T automobile, and other manufacturing companies quickly adopted this method. Subsequently, the majority of individuals were working on assembly lines. In this type of work environment, the normal distribution describes performance well because individuals had little control over the pace of production The majority of workers fell around the average, and only a few star performers could possible emerge.

In 21st-century organizations, the majority of people are not working on assembly lines, but instead are working to produce services. In this type of a work environment, machines no longer control the rate of

business.gwu.edu | 17

production, but instead individuals are able to take control of their own performance.

What we are starting to realize now is that under these conditions, a greater number of people are emerging as star performers and the normal distribution usually does not fit the type of work done in the 21st century.

Given our research results, what should managers do differently now that we know performance is usually not distributed following a bell curve? How can managers implement practices that help to recruit, motivate and retain those stars that provide the most valuable results to their organization, while at the same time taking care of everyone else in the organization?

RECRUIT, MOTIVATE AND RETAIN STARS AND TAKE CARE OF EVERYONE ELSE

1. Discontinue bell-shaped distribution as basis for performance evaluation

First, if an organization implements a performance evaluation system that forces a normal distribution when performance actually follows a heavy-tailed distribution, several star performers will be rated as average performers. This could have a demoralizing effect on the individual and result in loss of motivation, drops in performance or even turnover of some of the organization’s most valuable human capital.

So, in most cases, bell-shaped distributions should be discontinued as the basis for evaluating employee performance.

2. Transparent, fair policies

Second, transparency and fairness in policies are fundamental principles to managing and producing star performers. Fairness does not mean equality in terms of rewarding everyone the same. Rather, fairness means that everyone is given the same opportunity to become a star performer. It is important to be transparent regarding the relation between specific employee behaviors and results with rewards. For example, Chipotle Restaurants is an example of an organization that has focused on treating employees fairly.

It has placed a large emphasis on allowing employees to move up the ranks based on their performance. Thanks to those efforts, employees who now work on the burrito line have the opportunity to move up in the organization to senior management

18 | GWSB Spring 2017

positions. By creating a fair and transparent promotion process through which all employees can benefit, Chipotle has been able to identify and produce stars in its organization.

3. R emove situational constraints

Third, it is important to remove situational constraints that can hinder star performance. For example, if an individual is bogged down by paper work following a sale, the organization could consider providing an assistant to ease the workload and allow the salesperson to continue to be productive. It is in the best interest of the manager to find and eliminate situational constraints that stand in the way of individual productivity. However, in most situations, it would be impossible to eliminate situational constraints for all individuals. For instance, it would not be a feasible solution to hire an assistant for every individual in the workplace to reduce the amount of paperwork that they need to complete. Instead, managers are likely to see the greatest benefit if they are able to allocate their limited amount of resources to help star performers continue to produce at a high level—or even higher.

4. A wareness of stars' networks

Fourth, managers also need to be aware of the stars’ developmental networks. Stars have networks both within and outside of work. At work they have teams, contacts, friends, managers and subordinates.

However, outside of work people also rely on large networks. For instance, significantother and family needs and concerns may dictate whether an individual stays with an organization or finds work in a different geographic location. Organizations can help retain stars by also focusing on embedding their developmental networks within the organization as well.

5. Stars can help train and develop others

Fifth, managers should use stars to help train and develop others within the organizations.

For example, at Bell Labs, which has produced eight Nobel laureates, those who receive coaching from star performers are more likely to increase their own performance and become stars themselves.

Association with star performers is an

important way that organizations can help to improve individual performance of a wide number of people in the organization.

6. H andle compensation strategically

Sixth, compensation should be handled strategically to manage and produce star performers. Managers need to link compensation to individual performance to enhance star motivation and minimize turnover. If star performers feel that they cannot achieve personal gain by working harder, they are unlikely to put forth the effort to make any kind of improvement—or even sustain their high level of performance.

Additionally, star performers are also more likely to seek out other employment opportunities when they feel that their compensation does not match the positive results that they produce. A star’s departure results in a double hit to organizations, as it will not only lose a valuable performer but will also likely lose that person to a direct competitor.

7. “ I-deals”

Finally, in addition to rewarding individuals based on performance, managers should also consider implementing idiosyncratic deals (I-deals). I-deals are individually tailored working arrangements that can help to attract, motivate, retain and produce stars.

These I-deals can include arrangements that change the working situation, such as allowing the star to work remotely or a daycare package. In essence, they take into account the specific needs of the individual in developing a tailored package of benefits.

IBM has recognized the advantage of rewarding individuals based on personal needs. As a company, it has made an effort to allow employees to telecommute at least some of the time. In fact, many of the jobs that IBM currently offers are geared toward allowing flexibility in time and location for individuals within the organization.

In addition to allowing flexible work arrangements, IBM's benefits packages are customizable, allowing employees to make decisions that will have the greatest beneficial impact on their personal lives.

This includes benefits outside of the normal package, such as taking time off to volunteer outside of work. I-deals such as these provide a perfect opportunity to help leverage talent in the workforce, especially from star performers. In addition, they can

also motivate average performers to become stars themselves.

Our recommendations for managing stars may get us closer to reaching one of the most coveted “holy grails” in management: Turning human capital into an unbeatable and long-lasting source of competitive advantage.

Star performers are game changers for organizations regardless of size and industry. Their impact makes or breaks organizational success and also impacts the long-term sustainability and very survival of an organization. As the former CEO of General Electric Jack Welch famously said, “The team with the best players wins.” Our recent discovery that the distribution of individual performance in most industries and types of jobs does not follow a bell curve means that organizations are now tasked with identifying, motivating, retaining and producing stars to succeed in today’s hyper-competitive and global market. These stars are the individuals who produce disproportionate results and value. Organizations that succeed will be those that keep a close eye on their current and future stars—those whose extreme scores are overlooked and often eliminated in recruiting, selection, performance management and compensation systems that assume a bell-shaped performance distribution that typified work in the 20th century. Our recommendations for managing stars may get us closer to reaching one of the most coveted “holy grails” in management: Turning human capital into and unbeatable and long-lasting source of competitive advantage. GWSB

Star Performers Evidence Through Charted Data Figure A

HERMAN AGUINIS DEGREE: PhD Avram Tucker Distinguished Scholar GWSB Professor of Management

Figure B

Figure C

Herman Aguinis, PhD, joined the George Washington University School of Business in June 2016, having previously held the John F. Mee Chair of Management at the Kelley School of Business, Indiana University.

He is the author of five books, including Performance Management (2013), which is used in business schools and organizations worldwide and has been translated into Chinese and Arabic. He has written more than 130 scholarly articles on human capital acquisition, development and deployment, and has consulted with organizations in the U.S., Europe, and Latin America.

Also, he served a five-year term on the Board of Examiners for the United States Foreign Service (U.S. Department of State) and has provided expert testimony and written briefs for several high-profile court cases, including the Ricci v. DeStefano U.S. Supreme Court case involving firefighters in the City of New Haven (Connecticut). His research has been featured by numerous media including The Economist, Forbes, BusinessWeek, National Public Radio, and USA Today. For more information and to download his publications, please visit http://hermanaguinis.com

* This article is based in part on the following research articles: Aguinis, H, & Bradley, K. J. 2015, “The secret sauce for organizational success: Managing and producing star performers,” Organizational Dynamics, 44: 161-168; Aguinis, H., O’Boyle, E., Gonzalez-Mulé, E., & Joo, H. 2016, “Cumulative advantage: Conductors and insulators of heavy-tailed productivity distributions and productivity stars,” Personnel Psychology, 69: 3-66; and Aguinis, H., & O’Boyle, E. 2014, “Star performers in twenty-first-century organizations,” Personnel Psychology, 67: 313-350.

business.gwu.edu | 19

Engaging The World

GWSB ALUMNI PROFILE

ADAM WOLKEN

From The

Nation’s Capital

BBA, Finance, ’15; Master of Accountancy, ’16 CURRENT POSITION: I am on the assurance staff at Ernst & Young (EY) in McLean, Va. I also serve on the GW Alumni Association (GWAA) Board of Directors, representing the business school community.

“I started networking with EY professionals my sophomore year and was able to attend various externships and finally got the internship my senior year. Throughout the process, GWSB was extremely supportive and helped introduce me to so many different professionals.”

20 | GWSB Spring 2017

FIRST JOB: My first internship was at JetBlue Airways in N.Y. with its treasury department, but my first full-time job is here at EY. BIGGEST CHALLENGES: I would have to say simply starting my career at EY. I’ve loved every minute of the opportunity, but, of course, it has been a slight challenge transitioning to the full-time workforce.

EY does a great job with continuous learning, so it has been a constant but incredibly rewarding experience so far.

BEST B-SCHOOL MEMORY: Delivering the Commencement speech at the GWSB graduation my senior year.

It was an incredible honor and I felt so lucky to be able to share some words in front of my business school friends, family and professors.

HOW GWSB HELPED LEAD TO YOUR CAREER: My freshman year I was lucky enough to meet Kathleen Duffy in the F. David Fowler Career Center. She was instrumental in helping mentor me throughout the career-search process. I started networking with EY professionals my sophomore year and was able to attend various externships and finally got the internship my senior year. Throughout the process, GWSB was extremely supportive

and helped introduce me to so many different professionals.

GOALS: I haven’t written my 2017 goals yet, but I will be planning a trip with friends to Colorado in the spring and trying to run in my first half-marathon next fall.

Professionally, I would love to reach out to other GWSB alumni around the country to get their perspective on ways to help create a more enriching alumni community as part of my role on the GWAA board. (Feel free to reach out to me with any comments, concerns or ideas that you have to help bring GWSB alumni together!)

A FAVORITE BOOK: My favorite book of all-time is The Little Prince by Antoine de Saint-Exupery. I’m currently reading Spaceman by Mike Massimino.

PERSONAL INFORMATION: I grew up on the north side of Chicago with two brothers (one of whom is my identical twin).

Four of us in the family have worked in the Big 4 as auditors, with my twin working at PwC in Chicago. My little brother just started his first year at NYU Stern, and I look forward to traveling around the world with him during his international program.

In my free time, I have my pilot’s license and enjoy exploring the D.C./Virginia area from the air and planning trips down the coast.

MISSION

VISION

HAVE A LASTING IMPACT BY INNOVATING IN PROGRAM DEVELOPMENT, ENGAGING IN RIGOROUS SCHOLARSHIP, AND CONTRIBUTING AS GLOBAL CITIZENS

DISTINGUISH THE SCHOOL AS A LEADER AT THE NEXUS OF PUBLIC, PRIVATE AND NONPROFIT SECTORS

STRATEGIC THEMES ENHANCE

LEVERAGE

CREATE

GLOBAL FOCUS TO ENABLE PROSPERITY

LOCATION TO DEVELOP COMPETITIVE ADVANTAGE

INNOVATIVE INTER-DISCIPLINARY OPPORTUNITIES FOR LEARNING

VALUES COMMUNITY

RESPECT

INTEGRITY

ACTIVE ENGAGEMENT

GOALS EDUCATION

Develop distinct learning experiences to prepare global leaders

OUTREACH

Engage as citizen-leaders

SCHOLARSHIP

Advance knowledge through rigorous research

business.gwu.edu | 21 SB_1516_53

GWSB SUPPORTS

STRONG

CAPITAL MARKETS IN

DEVELOPING COUNTRIES

By Mary A. Dempsey

“This unique partnership has the potential to bring millions of people in the developing world out of poverty by developing effective capital markets and stronger financial institutions,” said GW President Steven Knapp.

N

ormally Daniel Warutere is found at Kenya’s Capital Markets Authority, where he helps shape the regulatory framework for his country’s equivalent of the Securities and Exchange Commission. This year, however, he is immersed in a first-of-its-kind executive education program created by the GW School of Business in partnership with the Milken Institute (MI) and International Finance Corporation (IFC), a member of the World Bank Group.

Mr. Warutere is one of 18 mid-career executives—nominated by central banks, finance ministries, stock markets, regulatory agencies and other organizations in developing countries—who were competitively selected to take part in the IFC-MI Capital Markets Program at the George Washington University. The men and women in the program will take with them the expertise needed to develop robust capital markets in their home countries.

In effect, they will form a new vanguard of change makers.

“This unique partnership has the potential to bring millions of people in the developing world out of poverty by developing effective capital markets and stronger financial institutions,” said GW President Steven

22 | GWSB Spring 2017

Knapp. “The program will make the connection between classroom instruction and real-world experience that is a hallmark of the George Washington experience.”

The certificate program was announced last spring at the Milken Institute Global Conference, an annual gathering that explores innovative ways to address pressing challenges in the financial markets, industry, health, government and education. The AACSB International, the accreditation organization for business schools around the world, singled out the IFC-MI Capital Markets Program at the George Washington University as one of 31 “innovations that inspire.”

“This is a unique program and valuable for what we’re trying to accomplish,” said GWSB Dean Linda Livingstone. “It’s also unusual in that it’s an intense collaboration with a development finance institution, an NGO and a business school, all of which bring their own expertise to the program.

At the same time, it’s a partnership with the participants’ home organizations, whether the stock market, the central bank or the finance ministry in a country.”

The focus of the program’s first cohort is sub-Saharan Africa. Seventeen of the students are from Africa; one is from India.

PREPARING A NEW GENERATION OF ECONOMIC LEADERS “These are professionals who need certain skills and training to advance in their home countries,” said Reid Click, associate professor of international business and international affairs and the program’s faculty director. “All have at least five years of experience. One is 47 years old. They have been nominated by their employers so we view them as the most talented people identified for forward advancement where they work.”

Dr. Click said the program is designed so that the students walk away not only with the knowledge to support economic growth in their countries and across borders but also with a deep network of capitalmarket contacts.

“This program means quite a lot to me and to my work,” said Mr. Warutere. “I don’t want to be involved in developing regulations that will kill business. So I am seeing how the capital market works in the United States, and I am interacting with colleagues in other countries to get a broader perspective.”

For example, he and Onkar Phadnavis, the program participant from the National Stock Exchange of India, have been

GWSB STATS

18

MID-CAREER EXECUTIVES

COMPETITIVELY SELECTED TO TAKE PART IN THE IFC-MI CAPITAL MARKETS PROGRAM AT THE GEORGE WASHINGTON UNIVERSITY

business.gwu.edu | 23

GWSB ALUMNI PROFILE

discussing an economic indices model that Mr. Warutere said may have relevance in his country.

Mr. Warutere is one of three participants from Kenya. A colleague from the Capital Markets Authority is in the program, as is an executive from Kenya’s central bank.

Program participants spent their first semester on the Foggy Bottom Campus, attending graduate-level classes tailored to address challenges specific to developing economies, including macroeconomic issues and regulatory and legal aspects of capital market development.

This spring, program participants are getting hands-on experience via semester-long internships, in Chicago, D.C., New York and San Francisco, developed through IFC and the Milken Institute.

The participants also attend a speaker series jointly organized by the Milken Institute and IFC. The presentations feature private sector partners of the Milken Institute and seasoned practitioners from IFC. Immaculate Nakato, a program participant from Uganda’s central bank, said the seminars have been particularly helpful.

“The speakers bring their special understanding about concepts that I deal with,” she said.

“They also look at issues in the private sector, which is different for me.” Already she has sent back to her central bank colleagues “a few ideas on where I want us to position ourselves.”

This spring, program participants are getting hands-on experience via semesterlong internships, in Chicago, D.C., New York and San Francisco, developed through IFC and the Milken Institute.

Jennifer Spencer, GWSB’s vice dean of faculty and research and the George Coelho Distinguished Scholar, said GWSB was a natural partner for the program. “We like the idea of using the skills and capabilities we have to help economic development in the region,” she said. “It’s an exciting way to help the world.”

She noted that many faculty members are deeply interested in emerging markets and developing countries and in fostering economic development around the world.

She also said the program leverages GWSB’s connection to Africa, complementing student case-study programs in Rwanda and strengthening the existing alumni

24 | GWSB Spring 2017

MARYANN GUERRA

MBA ’88

CURRENT POSITION: BioAccel, chairman and CEO; founder, CEO of Aesthetics Biomedical, Inc. network. Going forward, Dr. Spencer said there is interest in expanding the number of participants in the program as well as its geographic reach.

PROGRAM BENEFITS FACULTY, TOO Four GWSB faculty members currently are involved in the program. Danny Leipziger, professor of practice of international business, is teaching a new macroeconomics course focused on financial crises in emerging markets. “The program is a really great vehicle for [the participants] to get outside views on issues happening real-time in their countries,” he said.

Unlike other executive education programs that draw from across industry, the Capital Markets students are tightly focused, in this case on the financial arena.

Their professors also describe them as highly motivated.

“These are young policymakers, and as a cohort they are very interesting,” said Professor Leipziger, who also is managing director of the Growth Dialogue, a network that works to support economic growth around the world. “I don’t think these students would necessarily be interacting at home on a daily basis —the Ministry of Finance of Malawi with the Stock Exchange Commission in India and the Capital Markets Authority in Angola—but a lasting professional connection is being established here.”

According to Carole Biau, the IFC-MI program director, the alumni network is an instrumental component of the program and

is expected to be very active in years to come.

“Applications for next year’s class are currently open and we are excited to see who will join the ranks of this dedicated and inspiring cadre of international capital markets experts,” she said.

The program also benefits faculty.

Professor Leipziger, for example, said in-class discussions resonate with his past work at the World Bank, where he headed the Poverty Reduction and Economic Management network.

He said that the program supports the Milken Institute’s interest in developing strong capital markets and IFC’s aspiration to boost the professional development of people working in capital markets. “And I have my objective,” he added,” to prepare these people to deal with the international macroeconomic financial environment.”

Dean Livingstone noted that the program dovetails with GWSB’s interest in policy issues and global prosperity.

After completing the program in May, the participants commit to working on local capital markets in their home countries for at least two years.

“I noticed when we first met the students in the fall how seriously they take this commitment. They feel a significant responsibility to get value from the program and to take that value back to the organizations in their country,” said Dr. Livingstone. “They see this as more than a job or educational opportunity. They see it as a way to help their countries.” GWSB

“My MBA helped teach me about the formal business side of commercialization, and it fit right in with my goals to do a better job at NIH and for my future… That led me to taking a job as the COO of TGen and eventually president of TGen Accelerator…”

FIRST JOB: While in high school I worked for Dairy Isle selling ice cream. My first job after college was as a drug and alcohol counselor at the VA Medical Center in Washington, D.C. What an experience that was!

BIGGEST CHALLENGES: I’ve always worked in male-dominated industries—medical research (on the business side of the house) or in the government—so I had a few strikes against me. I’m also petite, so I appeared to be an easy target. However, the great training I got as a drug counselor working with a very tough group of addicts off the streets of D.C. made me a pretty tough cookie! I had to earn respect for myself as a woman and a businessperson and show them that I could make government work for them. I rarely take “no” for an answer. I am very persistent and don’t give up before the game is won. I love creativity, so I’m always open to new ideas no matter how “out there” they seem. I’ve used these skills to address the challenges of the industry I was in and to take jobs that are real “fix-it” opportunities, where the only way to go is up!

BEST B-SCHOOL MEMORY: One memory was of my first meeting with my business school adviser. I had an undergraduate degree in speech pathology and planned to go to business school at night while working full time at the National Institutes of Health. He asked me, “Do you realize it will take you 60 hours to get an MBA?” I said yes. He asked, “Do you realize it will take you five years part time to do this?” I said yes. He asked, “Are you sure you don’t want to do the executive MBA program?” At that point, I asked him if he didn’t want me to get into the program, as I was getting a bit discouraged! But I was determined,

and so after five years, I got my MBA. My fondest memory, though, was working on the required group project at the end of the program. We had a great team!

HOW GWSB HELPED LEAD TO YOUR CAREER: I felt it critical that NIH do a better job at getting research outcomes commercialized, both from NIH intramural research as well as extramural research. NIH spends $30 billion a year—that’s a lot of taxpayer money that should be serving the public.

My MBA helped teach me about the formal business side of commercialization, and it fit right in with my goals to do a better job at NIH and for my future. That led to me heading up the business side of the largest institute at NIH, which had the largest tech-transfer function. That led me to taking a job as the COO of TGen and eventually president of TGen Accelerator, both groups dedicated to taking genomic research outcomes and creating new businesses. And that led me to forming BioAccel, a nonprofit dedicated to early stage start-up companies in the biosciences. And that led me to recently founding my own for-profit company, Aesthetics Biomedical.

A FAVORITE BOOK: Seven Spiritual Laws of Success by Deepak Chopra.

PERSONAL INFORMATION: I have two children: Joseph (27) and Raleigh (24). I’m married to Lee Evans. I love to exercise and go to the gym or run every day. I love tennis, camping, fishing and the great outdoors in general. I enjoy music, as my husband manages a few bands. I’m a big, big fan of my undergraduate alma mater, The Ohio State University—but a bigger fan of GW!

business.gwu.edu | 25

LEARNING

BY DOING PUTTING ACADEMIC KNOWLEDGE TO REAL-WORLD USE THROUGH INTERNSHIPS One of the truly outstanding advantages enjoyed by GW School of Business students is the unmatched opportunity to maximize their educational experience through internships at some of the world’s leading companies, non-profits, U.S. government agencies and international organizations.

In the heart of Washington, D.C., GWSB is located in a city like none other, where business and policy intersect and interact.

GWSB’s location plays a major role in what sets it apart from other schools.

Just blocks from the White House, the State Department and the World Bank, GWSB’s location affords its students unmatched access to dynamic speakers, unique learning experiences, and excellent internship opportunities— opportunities that can often result in offers of full-time employment after graduation.

This access is amplified and enhanced by the school’s diverse, successful and highly engaged alumni network. And because GWSB is an international institution in an international city, that network extends around the world.

26 | GWSB Spring 2017

business.gwu.edu | 27

GWSB places a high degree of importance on internships as an integral component of a complete business education. The value of the hands-on, learn-by-doing aspect of student internships cannot be over-stated.

Student-interns have the opportunity to put into practice what they have learned in the classroom, get real-world exposure to the careers they have been preparing for and benefit from the multiplier effect of combining theoretical knowledge with practical experience.

Another key factor in GWSB’s ability to deliver a vast selection of excellent career-oriented internship opportunities to its students is the outstanding array of services and support offered by they F. David Fowler Career Center (FDFCC). Allowing GWSB graduate students to explore their career options, the FDFCC is staffed by a team of experienced professionals who provide expert one-on-one advice, coaching and guidance on every aspect of career management.

Students can connect with the FDFCC in person or via social media on Twitter, Facebook, LinkedIn or YouTube for information on the center’s latest programs and events, including career fairs and on-campus recruiting visits.

Internship and career opportunities can be accessed online on the center’s GWorkSB site. The FDFCC is an indispensible resource.

All of these qualities—our location, the excellence of our faculty, the expertise of our career center staff and resources, and a worldwide network of alumni with strong ties to their alma mater—work together to give GWSB students internship opportunities that complement their academic work and help prepare them for career success.

The following are just a few examples of the types of internships made possible by all that GWSB has to offer.

28 | GWSB Spring 2017

Juan Clar, GMBA ’17

Internship: U.S. Department of State: coordinator for Cuban affairs As a Thomas R. Pickering Foreign Affairs Fellow, Juan Clar was required to do his internship with the U.S. Department of State. Working as a coordinator for Cuban affairs, his internship could not have come at a more interesting time, given the recent historic changes in U.S.-Cuba relations.

During his internship at State, Mr. Clar’s responsibilities included: writing policy guidance memos for U.S. firms seeking to do business in Cuba; advising 16 major U.S. software firms that had blocked services in Cuba about policy changes; planning and support for two U.S.-Cuba claims dialogues at the State Department; managing the Cuban aviation portfolio and monitoring negotiations on airport security agreements.

“One of my favorite activities was meeting frequently with American business leaders to discuss market opportunities in Cuba, complex regulatory frameworks and prospects for greater economic interaction between the two nations,” he said.

Mr. Clar, who looks forward to working as a “business-focused diplomat” upon graduation, said that his studies at GWSB had prepared him well for his State Department internship. “I applied my understanding of foreign markets gained at GWSB to U.S.-Cuba economic policy,” he said. “In addition, the theoretical framework learned in the Consulting Abroad Program with Dr. Radhashyam Giridharadas [adjunct professor of management] was useful in understanding how U.S. firms could engage with different markets in Cuba and what strategies could they employ.”

In turn, Mr. Clar was able to apply what he learned at the State Department to his academic coursework. “I learned about the U.S. regulatory framework for companies seeking to do business abroad, and understood more profoundly the realities of political, financial and currency risk in international business,” he said.

Gwennan (Gwenn) Hollingworth, GMBA ’17 Internship: The Coca-Cola Company

Gwennan Hollingworth’s internship with the soft-drink giant helped to reaffirm her commitment to a career in corporate sustainability. “My work focused on the governance of sustainability commitments at the company and looked at emerging sustainability trends to provide recommendations for incorporating industry-leading standards into future work,” Ms. Hollingworth said of her assignment in Coca-Cola’s Office of Global Sustainability.

Ms. Hollingworth was able to put to work knowledge and experience gained in GWSB’s Global MBA program while serving her internship. “During the spring break of my first year, I was fortunate enough to participate in a study-abroad program in Copenhagen, Denmark. The class I took over that week, ‘CSR and Sustainability in Scandinavia,’ offered great exposure to the leading trends in sustainability reporting and governance. Scandinavia is, unsurprisingly, at the forefront of this,” she said. “My Consulting Abroad Program experience also served as a great learning experience for understanding how to: a) define a problem, b) define and conduct research, and c) present results that are meaningful to a client in a short time.”

Ms. Hollingworth also credits FDFCC senior career consultant Annie Rao with helping her secure the internship opportunity. “She was instrumental in helping me prep for my interviews including the nuances of Skype interviews!,” she said.

The internship provided real-world reinforcement of what she had learned on campus. “It reminded me of the complexity of working at a business and how all the classes you take in the MBA program— finance, accounting, ethics, organizational behavior, etc.—intersect daily.” The internship was a great educational experience for Ms. Hollingworth—and one not without its perks: “As a major Diet Coke fan, I was thrilled to work at a place where I could get a can every 10 feet.”

Hillary Kirtland, GMBA ’17 Internship: BDO USA, LLP

Hillary Kirtland’s internship with the public accounting, tax and advisory firm provided her with an exceptional level of hands-on experience. “I was able to completely own a client project from the statement of work to the presentation of recommendations.

They completely trusted me to run my own meetings, conduct my own research and compile everything into a client-ready deliverable.”

During her internship, secured through a GWorkSB posting and the assistance of the FDFCC, Ms. Kirtland managed a number of key projects for BDO. She worked on organizational change, developing four strategic recommendations and a 90-day on-boarding action plan to increase retention, productivity and effectiveness of M&E employees at an international human rights organization.

She also handled an impressive series of business-development, processimprovement and knowledge-management projects, working with key stakeholders, performing market analysis and adapting lessons learned from case studies into actionable recommendations.

The complementary combination of her academic studies in the GWSB Global MBA Program and the real-world experience gained through her internship helped Ms. Kirtland decide her career path.

“Working with BDO was probably one of the most meaningful experiences of my career to-date,” she said.

“I had previously interned in federal consulting and have now accepted a fulltime, post-graduate job working as a senior consultant in the public sector.

It definitely confirmed my belief that this is where I was meant to be,” Ms. Kirtland concluded.

RECENT GWSB GRADUATE INTERNSHIP PROVIDERS ADP Apeiron Systems Atlantic Council Audi of America Bank of America BDO USA, LLC CEE Corporation Center for Strategic and International Studies The Coca-Cola Company Collaborate UP Cozymeal Dannon Deloitte Delphos International Delta Air Lines Distributed Sun, LLC Glenmede Trust Google Groupe Nduom Hewlett Packard Enterprise Hobsons IFC Insight Property Group Kaboom Lidl US M. Powered Strategies Marriott International, Inc. The Mayhood Company McKesson Nationwide OPIC PepsiCo Shiseido Group USA SocialChorus Sonoco Sunrise Tegna Tgs Nortex ThinkBox U.S. Commercial Service U.S. State Department Office of Congressman Tim Walz

business.gwu.edu | 29

Why a Hippo?

By Ayman El Tarabishy, Associate Teaching Professor in Management

The now famous and beloved bronze “water horse� (from the Greek), standing guard in front of Lisner Auditorium was something of a mystery when it was first installed. What does a hippopotamus have to do with George Washington or the university that bears his name? How and why did GW decide to adopt the hippo as its unofficial mascot?

Intrigued by these questions, I set out to investigate the origin and meaning of the popular campus landmark. What I discovered was a remarkable and unknown connection between George Washington, the George Washington University and former GW President Stephen Joel Trachtenberg.

30 | GWSB Spring 2017

business.gwu.edu | 31

It all started when thenPresident Trachtenberg bought a bronze statue of a hippo from an antique store while on a vacation in Rhode Island in the summer of 1996. During the trip, Francine Trachtenberg, Dr. Trachtenberg's wife, was called away unexpectedly to return to D.C. for an emergency workrelated meeting. Spending the day by himself, Dr. Trachtenberg decided to walk downtown and do a little window-shopping to pass the time. Coming across the bronze hippo in one of the small shops—and thinking it would perhaps make a nice garden ornament for his home in Washington—Dr. Trachtenberg purchased the hippo, arranging to accept delivery at a later date when the antique store owner would be making deliveries in the D.C. area.

Two months passed, and the shop owner drove down to Dr. Trachtenberg’s residence in D.C. to deliver the hippo. Mrs. Trachtenberg, who was home when the shop owner appeared on her doorstep with a large bronze hippo, decided it was either a mistake or another of her husband’s zany ideas. (Dr. Trachtenberg is known to collect strange items.) She called her husband and confirmed the hippo was not a mistake, and then did what most wives would do in the face of such an intrusion on the home—she immediately banished the hippo, assigning her husband the responsibility of “dealing with it.”

Dr. Trachtenberg wisely accepted his wife’s decision without argument and called upon a member of his staff, Rhonda Fisher, to phone the GW loading dock with instructions to accept the delivery. Mrs. Fisher also took it upon herself to provide a short-list of possible locations for the hippo.

Lisner Auditorium was honored as the chosen site.

In addition to making his wife happy, Dr. Trachtenberg’s motivation for moving the hippo to campus was perhaps rooted in his desire for a more “ferocious” mascot for GW. He had long had a minor, but persistently nagging concern that, unlike say, “bulldogs”or “tigers,” “Colonials” did not really instill fear or respect in opponents.

So the hippo was installed as a “presidential gift to the GW Class of 2000.”

It was an immediate hit with students.

They started touching its nose for good luck, hippo T-shirts were made and

32 | GWSB Spring 2017

…the hippo was installed as a “presidential gift to the GW Class of 2000.” It was an immediate hit with students. They started touching its nose for good luck, hippo T-shirts were made and the hippo started appearing at home sports games to scare opponents.

the hippo started appearing at home sports games to scare opponents. The GW visitor’s bureau altered its tour route to include a stop by the hippo.

Of course, the kind of man who would buy a large bronze hippo, essentially on a whim, couldn’t just let it go at that. Dr. Trachtenberg included on the plaque that identified the “presidential gift” a bit of theretofore unknown “history” about how George and Martha Washington enjoyed watching hippos “cavort in the [Potomac] shallows from the porch of their beloved Mount Vernon.” (Dr. Trachtenberg tells the story of passing the hippo one day and overhearing a conversation between a GW mom and dad. The mom was arguing that hippos did not exist in the Potomac, with the dad citing the learned authority of the university, as they “know better.”)

Indeed, the Potomac Basin does form a vibrant ecosystem teeming with myriad flora and fauna, but sadly, no hippos. That is not to say that there is no link between the George Washington University and hippopotamus beyond Dr. Trachtenberg’s whimsical bit of branding genius.

In the course of my research, I discovered a real connection between the George Washington University and the hippo.

In 1785, during his brief retirement from public service, George Washington corresponded at some length with a Mr. Levi Hollingsworth about a new

innovation called the Hippopotamus. The Hippopotamus was a piece of agricultural equipment used to raise mud from a riverbed. Hollingsworth wrote to General Washington after learning from “Mr. Samuel Jackson of your neighborhood” about “the desire your Excellency had of raising manure from the mud in the bed of the River Potomack for the purpose of manuring land.” The inventor, Mr. Donaldson, showed Mr. Jackson “his new invented machine for cleansing our docks,” which, when operated by one horse and three hands, was capable of raising 60 to 80 tons of mud per day.

Mr. Hollingsworth described Mr. Donaldson as being “amongst men of the first abilities in point of invention” and attested to the fact that he had seen “his Hippopotamus often at work” and could “assure your Excellency of its great facility in raising mud or Sand from any depth of water.” He also told General Washington that Mr. Donaldson (whom he further lauded as “the Ingenious Inventor”) asked him to say that he was willing to send any information or models that might be desired to Mount Vernon.

In his response to Mr. Hollingsworth, George Washington noted that he had “long been convinced, that the bed of the Potomac before my door, contains an inexhaustible fund of manure; and, if I could adopt an easy, simple, and expeditious method of raising, and taking it to the Land, that it

may be converted to useful purposes. Mr. Donaldson’s Hippopotamus far exceeds anything I had conceived with respect to the first; but whether the manner of its working will answer my purposes or not, is the question.” General Washington requested more specific information about the machine.

Mr. Donaldson was thrilled at the thought of having such a prominent client. He wrote back directly to General Washington, answering the request for more information and offering to send a model. Mr. Donaldson also sent a description and engraving of the Hippopotamus from the May 1775 edition of Pennsylvania Magazine. This exchange of letters and interest of George Washington sheds light on his appetite for innovation and willingness to experiment so as to make do with what the environment provides and re-purpose it for better use.

So there was a hippo in the Potomac after all. It was not one from sub-Saharan Africa, but an innovation from the United States. George Washington’s entrepreneurial spirit, which gleaned inspiration from Mr. Donaldson’s hippopotamus, may have carried over to how he envisioned a national university.

Did then-President Trachtenberg find the hippo? Or could it be that the hippo found Dr. Trachtenberg, serving as a reminder of how President George Washington sought innovation, and how the GW continues to advance innovation?

George Washington was born, surveyed and spent most of his life in the Potomac Basin, and his interest in farming the basin and dredging the river is directly tied to the founding of the George Washington University. In addition to “Father of His Country,” Washington was considered to be the “Father of the C&O Canal,” which linked the nation’s capital to the resourcerich Midwest. He bequeathed his shares of the Patowmack Company (a.k.a. Chesapeake and Ohio Canal Company or C&O Canal), which had been given to him by the state of Virginia, “towards the endowment of a University to be established within the limits of the District of Columbia.” Eventually, his wish became a reality with the creation, by an Act of Congress on February 9, 1821, of

Columbian College, which would later be renamed the George Washington University in 1904.

Did then-President Trachtenberg find the hippo? Or could it be that the hippo found Dr. Trachtenberg, serving as a reminder of how President George Washington sought innovation, and how GW continues to advance innovation?

As I walk by the hippo now, I see it as a promising symbol of what lies ahead for GW. The hippo is a reminder to all GW trustees, faculty, students, staff and alumni to continue to explore, try new things, experiment and not sit idly by. The world is rapidly changing, and we need a hippo on our side. GWSB

Professor Ayman El Tarabishy has written two previous articles about George Washington and the history of the George Washington University for GWBusiness magazine.

References September, 1798- April, 1799 (The Papers of George Washington: Retirement Series, Vol. 3) by George Washington (Author), W. W. Abbot (Editor), Edward G. Lengel (Editor) https://www.potomacriver.org Special Thanks for the following for their support in writing this article: Former GW President Stephen Joel Trachtenberg The Fred W. Smith National Library for the Study of George Washington Dean Linda A. Livingstone Paul Swiercz, Professor of Management

business.gwu.edu | 33

GWSB DEVELOPMENT + ALUMNI NEWS GWSB DONORS AND ALUMNI ARE MAKING HISTORY. HOW WILL YOU LEAVE YOUR MARK? PHILANTHROPY REPORT The GW School of Business continues to innovate, build on our strengths and develop new competitive advantages.

To advance our strategic priorities and fulfill our bold vision to become an elite institution engaging the world from the nation’s capital, philanthropy is essential.

We are grateful to our donors who have invested in GWSB and supported Making History: The Campaign for GW, the university’s $1 billion philanthropic initiative.

Contributions help to elevate the school and situate it among the world’s leaders in business and management education.

Here are a few highlights of recent gifts:

1| Endowed Gift to F. David Fowler Career Center

Mitchell E. Blaser, BBA ’73, made a $1.2 million blended gift to the F. David Fowler Career Center within the GW School of Business to endow the center’s executive director position. In recognition of this gift, the directorship will be named the Blaser Family Executive Director. Mr. Blaser, one of the center’s leading advocates, has hired over two dozen GWSB students over the years. He is known to ask, “Have you hired a GW student today?”

alkable Urban Research 2 | W Receives Foundation and Corporate Support

Around the world, metropolitan areas are structurally transforming, shifting from lower density, segregated development patterns to higher density, integrated walkable development patterns. Led by Christopher B. Leinberger, Charles Bendit Distinguished Scholar and Research

34 | GWSB Spring 2017

Professor and chair of the Center for Real Estate and Urban Analysis (CREUA), GWSB has implemented a methodology that creates a census of 100 percent of the real estate (office, retail, apartments, industrial, schools, hospitals, civic, for-sale housing, etc.) in a metropolitan area. This methodology, which was developed by Mr. Leinberger at the Brookings Institution, examines land-use forms and their economic functions and has been completed in Washington, D.C., Atlanta, Boston, Detroit and Grand Rapids, Mich.

Metropolitan New York faces significant challenges: social inequities exacerbated by rapidly rising housing prices, transportation systems in need of massive repair and climate resilience brought to the fore by Superstorm Sandy. These issues are directly addressed by the economic growth of the region—growth that is needed to expand economic opportunity and provide the resources to upgrade infrastructure and quality of life. But unless development patterns are adapted to the rapidly

evolving needs and demands of changing demographics and businesses, growth will put even greater strain on affordability, transportation and other systems. These are the issues directly affecting the Regional Plan Association (RPA) as it undertakes its Fourth Regional Plan for metropolitan New York City.

To support development of the RPA plan, CREUA is partnering with RPA to provide essential research that will measure both economic performance metrics (real estate valuation, tax generation for local government and place-based GDP) as well as social equity performance (housing and transportation affordability).

Philanthropic support across sectors is enabling this research. The Rockefeller Foundation contributed $240,000, which is being matched by corporate sponsors including Silverstein Properties; Taconic Partners; Mack-Cali Realty Corporation; RXR; Cushman and Wakefield; and a number of others. Sponsors will receive the full report prior to its public release in April 2017 and will have access to analysis, findings and data sets. The findings are being presented at 4 World Trade Center and other locations throughout the metro region.

planned gift to establish the John Rollins Endowed Fund for Entrepreneurship at GWSB. A long-time friend of GW, Mr. Rollins has served as adjunct professor for entrepreneurship at GWSB, vice chair of the GWSB Board of Advisors and as chairman of the board at StreamCenter, Inc. He is the former CEO and chairman of the AZTECH Software Corporation, a computer systems and software company he founded in 1970 and led until its sale in 2000. Prior to founding AZTECH, Mr. Rollins worked as a management consultant and systems analyst at NIH while serving as a commissioned officer in the U.S. Public Health Service.

The GW New Venture Competition provides students, faculty, staff and alumni with a real-world educational experience in developing, testing and launching their own startup ventures, and has grown to be the fifth-largest collegiate business plan competition in the United States.

anonymous donor made 4 | Aa n$4.8 million bequest commitment to fund an endowed professorship.

apitol Advertising Club 5 | CSeeks Crowdsourced Contributions

ew Endowed Fund for 3 | NStudent Entrepreneurship John W. Rollins, founder of the GW Business Plan Competition (recently renamed the GW New Venture Competition), has made a $100,000

The National Student Advertising Competition (NSAC) is the premier student advertising competition and one of the core activities of the Capitol Advertising Club. Each fall, the American Advertising Federation publishes a case study that outlines the history of a client’s product and its current marketing situation. The case studies reflect a real market situation.

The GW student team—under the guidance of longtime GWSB Professor Lynda Maddox—forms its own agency to research the product and its competition, identify potential problem areas, devise an advertising/marketing campaign and produce written plan books that address media, budget, creative, promotion and evaluation issues. Each team has a chance to “pitch” the client through a 20-minute presentation. GW Capitol Advertising alumni also come back to campus to support

the team as it prepares for the competition.

Last year, the GW team made it to the nationals and hopes to do the same this year. Money raised through the Colonial Crowdfunding student fundraising platform will enable the team to bolster its market research effort, address past-years’ critiques and improve the quality of assessment tools. The money raised also will help cover travel expenses and registration costs. The team set a $2,500 goal through the Colonial Crowdfunding effort, which ran through December 2016.

For the final phase of the campaign, raising funds to support GWSB students is a top priority. In the face of rising college costs and student debt, our Power & Promise student aid initiative—which provides undergraduate scholarships and graduate fellowships— is critical in helping GWSB attract and retain top students, and enable their success.

For more information about supporting GWSB, visit campaign.gwu.edu/gwsb

business.gwu.edu | 35

GWSB DEVELOPMENT + ALUMNI NEWS ALUMNI ENGAGEMENT With more than 55,000 graduates, the GW School of Business (GWSB) alumni network is a global community that plays a key role in the overall success of GWSB. Alumni contribute their work, wealth and wisdom, creating a powerful network and culture of philanthropy that benefit students and alumni alike.

From July 1, 2015, to June 30, 2016, 214 alumni in eight different countries generously gave of their time and talent for a variety of activities and programs including MBA Institute, GWSB Career Treks, case competition judging, MBA Roundtables, student mentorship, admissions fairs, class reunion committee and classroom speaking roles. Their contributions are invaluable to building a strong alumni network and modeling a culture of giving back.

If you are able to participate as a volunteer—either in person or online—we encourage you to complete our online volunteer form at: business.gwu.edu/ alumni/volunteer.

For those already supporting GWSB efforts, thank you for enabling our success and helping build the foundation for our future endeavors.

36 | GWSB Spring 2017

ALUMNI ENGAGEMENT PROGRAMS Asia Business Leaders Symposium

GWSB alumni including Dr. Soon-Young Chang, DBA ’86, founder and chairman of Midas International Asset Management; Simon Cheong, MBA ’83, founder of property developer SC Global Development Company; Dr. Jianhai Lin, DBA ’86, secretary, International Monetary Fund; and entrepreneur Sandiaga Uno, MBA ’92, came to campus in October 2016 to participate in the GWSB Asia Business Leaders Symposium. The businessmen participated in a panel discussion moderated by Dean Linda Livingstone, followed by an informal networking reception with students and faculty. Each of the guests received an honorary Distinguished Research Professor in Residence award from GWSB.

Career Treks Since 1998, finance and marketing students in GW’s undergraduate business program have led an annual career trip to New York City to visit companies and network for internships and jobs. Since then, sports management, consulting and real estate have been included. A student committee, with the help of staff and alumni volunteers, organizes all aspects of these treks, which are open to GWSB sophomores, juniors and seniors, with priority given to juniors in marketing and finance. The F. David Fowler Career Center is an active partner, hosting

information sessions to brief students on the organizations they will visit and help them prepare to make lasting connections. Alumni volunteers typically host company site visits; participation has increased, with more than 80 alumni participating over the past few years, particularly as alumni have become increasingly interested in connecting with students as a source of talent.

In 2016, career treks were divided to respond to the unique recruiting cycles for specific industries. Finance, consulting and real estate students made company visits in September, and marketing, sport management and data analytics students made visits in November. Over 100 students and alumni gathered for networking receptions at the Princeton Club during each of the trips.

a generous endowment gift from Trustee Blackburn to GWSB. The endowment underwrites an annual distinguished lecture by a business leader addressing themes related to the importance of civility in discourse and integrity in business conduct.

The 2017 lecture featured speaker Noah Feldman, American author and the Felix Frankfurter Professor of Law at Harvard Law School.

This lecture serves as a capstone event for undergraduate business students, underscoring both the lessons of the curriculum and the legacy of George Washington’s moral rectitude. The event engages students in a discussion about the impact of civility and integrity in business relations and discourse within the foundation of their education.

The Richard W. Blackburn Lecture

Alumni Weekend 2016 Overview ■ B aroness Joanna Shields received the

Distinguished Alumni Achievement Award, the highest recognition given by the university. Baroness Shields is a British/ American technology industry veteran and parliamentarian currently serving as the United Kingdom’s minister for Internet safety and security and under-secretary of state for both the UK Home Office and the Department for Culture, Media and Sport.

“ The panelists shared unique insights on their professional journeys and the leadership lessons they have learned along the way. They also noted the significant impact GWSB, their professors and their classmates had in shaping who they are today and the success they have achieved. It was a great honor to host these accomplished alumni for such an important, informative forum.”

— GWSB Dean Linda A. Livingstone

The Richard W. Blackburn Endowed Lecture on Civility and Integrity was established through

For 2017, GW will combine Colonials and Alumni weekends, hosting a unified Colonials Weekend for alumni, families, students and friends Oct. 19-22. Reunions for the full-time MBA classes of 2007, 2012 and 2016 will be celebrated, with undergraduate class reunions for years ending in 7 and 2.

Other highlights of Alumni Weekend— held in October 2016—included: ■ A ’90s themed alumni reception hosted

by Dean Livingstone; ■ T aste of GW, featuring a number of GWSB participants (Pierre Abushacra, BBA ’89, founder, Firehook; Amy Trout Hughes, MBA ’12, owner, Marshmallow MBA; Bill Blackburn, BBA ’00, co-owner, Pork Barrel BBQ; Rea Pyle, BBA ’01, partner, Potomac Pizza; and Susie Selby, MBA ’85, owner, Selby Winery).

■ E ntrepreneurship Founders Panel featuring GWSB alumni Ken Chaletzky, BBA ’71, president and CEO, Copy General Corp., and Randy Sakowitz, BBA ’02, vice president and co-founder of First Line Technology.

■ M BA reunions for full-time classes of 2006, 2011 and 2015 convened for their 10, five and one year reunions at Pinstripes in Georgetown.

ENGAGE WITH GWSB 1. GIVE A DONATION 2. PARTICIPATE IN AN ALUMNI ROUNDTABLE 3. SUPPORT THE ADMISSIONS OFFICE 4. HOST A CAREER TREK EVENT 5. MENTOR A GWSB STUDENT 6. CONNECT WITH OTHER ALUMNI

GWSB CLASS NOTES Jade Ademiluyi, MSPM ’16, is working fulltime with TxDOT. Haiyi Chen, MA ’15, is working as an accounting assistant for the Environmental Investigation Agency.

Kristin and Nick Messina, (both) MBA ’15, launched YonderWork, an “international travel experience” for remote workers, which combines travel, co-working and professional development.

Greg Vallarino, MBA ’15, started with a goal of visiting all 30 major league ballparks shortly after he committed to GWSB in 2013.

Just over three years later, he has visited 23 parks.

Aditi Anand, BBA ’14, accepted a position at Invest India.

Ovie Mughelli, EMBA ’14, worked with the White House and various Fortune 500 companies to advocate environmental sustainability and corporate social responsibility.

Joshua Pavano, MBA ’14, co-founded Jonas Umbrellas, which dedicates 40 percent of its profits to fund clean-water wells.

Rebecca Peress, BBA ’14, launched a unique food-product line, Swapples™, an all-vegetable alternative to traditional waffles.

Matt Scott, BBA ’14, after two years with the GWSB alumni-operated digital-marketing agency Social Driver, accepted a position at SecondMuse.

Thabani Mthiyane, WEMBA ’13, is the first African elected to the helm of the Civil Air Navigation Services Organization (CANSO).

Usha Chaudhary, WEMBA ’12, landed a chief operating officer position at Kettler.

Peter A. Korbel, MBA ’12, co-founded BLENDER WORKSPACE, located at 135 Madison Avenue, New York City.

38 | GWSB Spring 2017

Kristen Gaerlan, BBA ’11, was a speaker at BinderCon NYC, a conference for female and gender nonconforming writers.

Michael A. Brown, BBA ’98, was selected as the 2015-2016 Department of Homeland Security Fellow at the RAND Corporation.

Solomon Kassa, MBA ’11, producer and host of “Tech Talk with Solomon,” filmed an episode at GW.

Dallas Independent School District Trustee Mike Morath, BBA ’98, was appointed state education commissioner by Texas Governor Greg Abbott.

Ari Astles, MBA ’10, married 1st Lt. Erin Elizabeth Bevacqua, Feb. 22, 2016.

Natalie Hunter, MBA ’10, launched a consulting start-up, Sherhunt Solutions, following her U.S. Army service.

Michael Rossetti, BBA/MS ’10, was named a fellow of the 2016 Code for American Fellowship class.

Aaron Leong, BBA ’08, MTA ’09, was promoted to senior revenue manager for the Crystal Gateway Marriott and the Courtyard Arlington Crystal City, Va. Jeff Blake, MBA ’07, published an article in Becker’s Hospital Review, “Applying Restaurant Customer Service Principles to Healthcare.”

Ahmad Ishaq, MSIST ’07, founder of ByteCubed, celebrated “a spectacular year of growth.”

Ben Trajtenberg BBA ’06, and Ariel Wade, BA ’06, JD ’10, married on Sept. 6, 2015.

Roberta Miller, BA ’04, MS ’05, was promoted to senior internal auditor for the Maryland University system.

Tony Dokoupil, BBA ’03, was named a correspondent for CBS News in New York.

Catherine Hogan, EMBA’03, left Verizon after more than 30 years in the telecommunications industry, and joined the Greater Washington Urban League as chief program officer.

Kuandyk Bishimbayev, MBA ’01, was appointed Kazakhstan’s minister of national economy.

Toya L. (Atkinson) Evans, BBA ’85, launched her first Tropical Smoothie Cafe franchise.

Gerald L. Patterson, MBA ’82, retired as director of training for the U.S. Equal Employment Opportunity Commission after 41 years of serving the federal government.

He currently serves as an adviser to Oratorio Media and Presentation Training for its government contracts.

John Pavlovsky, MS ’80, was recognized by the American Volkssport Association (AVA) for completing 10-kilometer walks in all of the 50 U.S. state capitals, plus Washington, D.C. Mr. Pavlovsky has accumulated 5,500 kilometers walking in events sponsored by the American Volkssport Association.

Irwin D. Nathanson, MS ’74, is currently focusing on pursuing large, multi-year opportunities with the air navigation service providers (i.e. FAAS) in Germany and France.

I AM ADVANCING THE GLOBAL ECONOMY “Coming from a low-income immigrant family, for me an institution such as GW was only a dream—this scholarship has allowed me to live that dream.”

- Erjon Baballari, GWSB ’18

Support business students like Erjon by making an annual gift.

Ruth J. Person, MSA ’74, received an honorary Doctor of Humane Letters degree from Indiana University in May. She currently holds the position of professor of management at the University of Michigan-Flint.

campaign.gwu.edu/gwsb business.gwu.edu | 39

STAY IN TOUCH The GW School of Business Alumni Network is with you wherever you go.

Name

Degree and year of graduation

Home address

City/State/Zip

Is this an address change?

Use this form to update your contact information so we can stay in touch, and continue to receive GWSB news, event announcements and access to networking opportunities.

Keep us current on where you work, promotions, new business ventures and any business or academic honors.

Complete this form and send it to: GW School of Business Office of Development & Alumni Relations 2033 K Street, NW, Suite 230 Washington, D.C., 20006

* Yes * No

Phone

Email

Social Media Handle

Business Title and Company

Business Address

City/State/Zip

Is this a job/address change?

* Yes * No

Phone

Email (if different from above)

Preferred Mailing Address

Or email your information gwsbalum@gwu.edu.

Please use a ballpoint pen to write your information on the form.

May we include your email address in your class note?

* Yes * No

News

Don’t forget to send us photos via mail or email–wedding photos, baby photos, class reunion photos, etc. (Photos mailed will not be returned)

40 | GWSB Spring 2017

Indicia HERE School of Business Office of the Dean Duquès Hall, Suite 660 Washington, D.C. 20052

FSC LOGO HERE

Join the GW Legacy Challenge If you document a gift in your will or make any planned gift to the GW School of Business, you can immediately direct GW Legacy Challenge matching funds to a cause you care about. For every $10 of your pledged planned gift, $1 in matching funds (up to $10,000) will be directed now to the GWSB purpose you select—to support professors in your favorite department, the Fowler Career Center, student scholarships, or any area you choose.

GW thanks the generous group of GW alumni and friends who have donated matching funds for the GW Legacy Challenge. Many new or increased planned gifts have already been received. Act now—matching funds are limited!

To learn how your gift can make an immediate impact visit go.gwu.edu/GWLegacyChallenge.

DAR2991

CALL: (877) 498-7590 EMAIL: pgiving1@gwu.edu

MITCH BLASER, BBA ’73 Chair, GWSB Board of Advisors

“As a GWSB stakeholder, I have a keen interest in growing the endowment to help drive the school’s resources and rankings. My planned gift will assist the GWSB Fowler Career Center to help our students and provide more opportunities to hire a GW student today!

Let’s all take advantage of the Legacy Challenge, as together, we can make a real positive impact on GWSB.” business.gwu.edu | 4