Photo by Jeff Downie
by Kathleen Osborne
I
t didn’t take long for Kevin Purpura to discover a surefire strategy for success in Hathaway Brown’s high school business curriculum: Invest in the girls themselves.
The school’s burgeoning Center for Business & Finance is designed to give students real-world connections and experiences that will allow them to put their own ideas into action. “My role is to facilitate, not to micromanage,” Purpura says. “That’s the new model of entrepreneurial education.” Part of HB’s signature Institute for 21st Century Education, the Center was launched four years ago with a pilot course in business and finance for ninth graders. A host of curricular offerings and off-site initiatives have been added to the program in the ensuing years, and now students have the ability to earn diploma designation as Business & Finance Scholars upon graduation.
Students enrolled in Center courses meet once per each six-day rotation cycle. In addition to normal coursework, sophomores have the opportunity to try their hands at the Junior Achievement Titan business simulator. This program creates a world in which players are CEOs of their own companies. During game play, students must run a manufacturing company and master six key business decisions: price of product, production levels, marketing expenses, research and development costs, capital investment level, and charitable giving. In the junior year, students are invited to participate in a special entrepreneurship program, which is designed to let them choose a field of interest and pursue specific objectives related to business, finance, or economics. Normally, the developmental process begins in the 10th grade and the hands-on experience follows. Students can start their own businesses, participate in a business plan competition, manage an existing business or organization already established by the school, or delve deeply into the inner-workings of business and management through a series of site visits and other hands-on experiences. (See Diversified Portfolios page 23 to read about some of the projects HB students are undertaking.)
In order to graduate as Business & Finance Scholars, in addition to completing the 10th and 11th grade Center offerings, students must enroll in an honors-level capstone course and complete a required thesis paper with an economics basis. Defending the thesis is also a Center requirement. Course choices include Contemporary American Politics and Society, Economic Policy, Ethics and Leadership, International Relations, and American Government and Law. “We’re trying to create an experiential program that more closely resembles the real world of business,” Purpura says. “Along the way, students are gaining a wide range of skills that will benefit them no matter what career path they ultimately choose.” With more than 3,000 alumnae scattered around the world and engaged in a variety of enterprises – including as corporate CEOs, business owners, and financial advisors – HB also has a veritable treasure trove of knowledge from which students can draw. (See Taking Charge on page 26 for a small sampling of HB women in business.) A unique relationship with global audit, consulting, financial advisory, risk management and tax firm Deloitte also puts HB students in one-to-one contact with young women working in the finance industry. These personal mentors discuss the opportunities and challenges of the industry and teach the girls the value and importance of networking. “The goal is to connect students with professional women at a range of different levels,” Purpura says. “We’re
HB
Those who have an interest in studying business in college certainly will gain an advantage by participating in the Center’s offerings, but Purpura is quick to point out that the programming is designed to benefit everyone. “We’re trying to get girls to think about themselves as consumers and to be financially prudent and responsible in their own lives,” he says. “We’re orienting them for life beyond HB.”
One very exciting entrepreneurial endeavor now in the works is the “Hath Caff ” – a new student-run coffee shop that will soon be constructed in the Martha Frohring Geisel Library in the HB Upper School. The shop should be up and running in the next few months. Athena Haloua ’14 is spearheading the project with a team of her classmates who are researching equipment, pricing inventory, developing menus, mapping schedules, making purchasing decisions, and approving design sketches. The girls have met numerous times with HB’s Associate Head for Finance and Administration Valerie Hughes, Director of Plant Operations Terry Churchill, and even representatives of the Shaker Heights Health Department to ensure that their plans meet all necessary criteria and are in keeping with the mission of the institution. With generous support from the Hathaway Brown Parent Association, the coffee shop will give girls an avenue to gain additional funding to support the Center for Business & Finance. All proceeds will be funneled back to the school to assist with ongoing initiatives. “It’s a lot of work, but it’s a really fun project,” Athena says. “I’m so thankful that I’m learning how a business runs from the ground up.”
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hose who have an interest in studying business in college certainly will gain an advantage by participating in the Center for Business & Finance, but Center Director Kevin Purpura is quick to point out that the programming is designed to benefit everyone. “We’re trying to get girls to think about themselves as consumers and to be financially prudent and responsible in their own lives,” he says. “We’re orienting them for life beyond HB.”
giving them a chance to see the industry through others’ eyes so that they may begin to understand those narratives.” Several HB parents have been extremely helpful in establishing, enhancing, and refining the Center’s offerings. The JA Titan simulation was run this past school year with the help of Denise Farkas, chief investment officer for Sigma Investments and mother of Zoe ’15. The unique “Business School in a Box” curriculum that’s used to teach girls the ins and outs of leadership, finance, accounting, marketing, economics, strategy, and values was developed specifically for HB by Peter Zale, marketing director for Multi-Radiance Medical Laser Therapy Products and father of Elizabeth ’10 and Charlotte ’13. The Deloitte mentorship program was conceived and initiated by Deloitte consumer and industrial products practice principal Paul Wellener, whose daughters Lesley ’11, Haley ’14, and Carly ’17 are HB girls. And Steve Marcus, owner and president of First Select Medical Staffing and father of Ashley ’99 and Taylor ’04, is the advisor for the Hath Caff coffee shop launch. Even with all this support in place, Purpura maintains that the students construct most of the Center’s value themselves. “In this setting and in the business world at large, we have to let girls know that they should be willing to take risks and even sometimes to fail. We can’t do the work or make the decisions for them,” he says. “In the end, they learn that they can adapt, adjust, and rely on themselves. They are the owners of their own education.”
Center Syllabus The Center for Business & Finance educates future civic leaders, corporate and non-profit managers, and entrepreneurs on all matters related to business and finance. Although it is committed to teaching the rudiments of individual budgeting, planning, and investing, the Center ventures far beyond the world of personal finance. Students in grades 10-12 explore institutional financial management, corporate marketing and accounting, micro- and macroeconomics, and business and professional standards and ethics. The Center is committed to training future leaders to be wise and responsible with money, whether public or private, and to be keenly aware of the positive consequences of sound financial management and ethical, informed decision-making.
Program Highlights
Grade 10
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Junior Achievement Titan Simulation
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Mentoring Program
Grade 11
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Business School in a Box
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Entrepreneurship
Grade 12
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Financial Wellness Speakers’ Series
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Capstone Course
Field Work Michele Zhou ’14 creates a curriculum for banking execs While most 17-year-olds look forward to hanging out at the pool during the summer months, Michele Zhou ’14 couldn’t wait to spend time in the halls of Key Tower in downtown Cleveland. Pursuing diploma designation as a Hathaway Brown Business & Finance Scholar, Michele will take the knowledge she gains at KeyCorp, one of the largest financial services companies in the United States, to craft a training program for aspiring professionals. “The reach of this program is potentially unlimited,” Michele says. “I can’t wait to see how it all comes together.”
To that end, Michele got to know Linda Heselton, Senior Vice President and Director of Training at Key, who developed a comprehensive itinerary of meet-and-greet opportunities for Michele. “She did everything she could to make sure that I got to spend time with people in any areas that interest me. She also advised me on developing my program and she’ll continue to play an indispensable role in my project and overall experience,” Michele says. In July and August, Michele worked closely with Key executives and associates to learn how the organization is structured and what type of information must be mastered for advancement. Throughout her senior year, she’ll add to her knowledge base and translate her findings into five or six training modules that can be picked up and taught by instructors at Key. The curriculum she creates will be patterned on HB’s signature “Business School in a Box” model, which addresses seven key business topics: leadership, finance, accounting, marketing, economics, strategy, and values. A gifted student who aced the ACT in May, Michele is not daunted by the idea of undertaking such a large initiative for a major corporation with $91 billion in assets. In fact, she sees this as a way to dive right into a business career. Her older brother, Wei, majored in economics and now works at a hedge fund in Greenwich, Conn. “He always talks about how much he loves it,” she says. “I speak Chinese and I’m thinking about minoring in it in college. Then I’d love to find a way to get into international business. This project with Key seems like a good start toward that goal. What’s particularly interesting about this experience is that I’m discovering not only an outstanding amount about the inner-workings of Key but also a number of things I could see myself learning and doing throughout college and beyond.”
Ariana Iranpour ’14 hopes to make her bakery business a household name A nationally ranked tennis player, Ariana Iranpour ’14 always is on the lookout for healthy foods that will help her to feel full and energized while maintaining a healthy weight. She’s had some difficulty finding something that really fits the bill. So she decided to create it herself. Competitive by nature, Ariana and her father, Safa, had a bake-off of sorts in their home kitchen last year. The goal was to bake the best tasting and grainiest bread they could. Ariana won the contest with a loaf of “Morning Nuts & Bolts.” Through many trials and adjustments, she perfected the recipe for the all-organic bread that contains no preservatives so that it tastes delicious and maintains its shape. In place of flour, Ariana uses ground millet and flax seeds. The bread also includes pecans, almonds, and sunflower seeds. “Two pieces of toast can hold you over for quite a while,” Ariana says. Good nutrition is extremely important to Ariana. She didn’t start playing tennis until she was 11. Within four years, she already was competing in the International Children’s Games in Lanarkshire, Scotland. There, she earned a bronze medal in doubles. That same year, she qualified for the Division II state tournament in singles. She continues to play for the Blazers and she works out at the North Ridge Racquet Club, sometimes for 8-12 hours at a time. “A lot of people like me need to supplement their diets with healthy and filling snacks,” she says. Ariana has big aspirations for her bread business. She hopes to launch a website which will allow her to fulfill online orders and she ultimately would like to secure a distributor that will make Morning Nuts & Bolts available in grocery and health-food stores. She’s already created a business plan, which she showcased and defended at an in-school competition organized by HB’s Center for Business and Finance in January. She took the top prize in that contest and moved on to the TyE young entrepreneurs business plan competition in April. Although she didn’t place in the event, she gained some valuable insights. “I realized that I have a knack for public speaking,” Ariana says. “And the questions the judges asked were really instructive – they gave me some ideas for how to be more hands-on in the process.” Before she graduates as an HB Business & Finance Scholar in June 2014, Ariana plans to have developed all of the packaging and nutrition information for Morning Nuts & Bolts, to refine her business plan, and get the bread into the hands of customers. She’s now working with LaunchHouse, a Shaker Heights-based business accelerator and business investment funder, to get her company off the ground. Ariana would like to major in business and chemistry in college, and to become a plastic surgeon. “I can’t wait to see how all of this turns out first, though,” she says.
HB
This unparalleled opportunity arose because of Michele’s relationship with Amy Brady, Key’s Chief Information Officer and HB mom. Brady is the mother of Michele’s good friends Amanda ’14 and Madison ’15. Michele was interested in crafting a unique project and Brady gave her an avenue to do it. “Amy works closely with a lot of top-tier people who said they wouldn’t mind sharing their points of view,” she says.
Breadwinner
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