Darden Global Conference

Tomorrow, six Darden student clubs and the Center for Global Initiatives will host the second annual Darden Global Conference. The theme this year is “Challenging the Status Quo” and will include sessions focused on doing business in tough environments, impact investing and global financial markets.  Keynote speakers include Rakesh Mohan, Executive Director at the International Monetary Fund and Joaquim Souza (MBA ’99), CEO of Caixa Banco de Investimento.

Global-Conference-Flyer_Jan

Leave a comment

Global Executive MBA Residency in India

The Global Executive MBA program spent January 3-16 in Mumbai and New Delhi. The international residency in India is one of the six the GEMBA students will complete over the course of earning their degrees.

The 29 Class of 2015 students travelled with Raj Venkatesan, Marc Modica, Gal Raz, Robert Carraway, Scott Snell, and Larry Mueller.  They spent their first week in Mumbai and, in addition to class sessions focused on competitive analysis, consumer behavior, operations management, and marketing, the students conducted a variety of company visits, listening to local leaders in their fields.

The students learned about social enterprises by visiting Lijjat Papad. At Danaher (Portescap), they spent time exploring supply chain management and new product development, hearing from Portescap’s Vice President and General Manager in India.  The CEO of Eureka Forbes also spoke to the class about marketing.  Additional company visits in Mumbai included Lowe Lintas and Naan Dan Jain. After busy days discussing pressing global business challenges with Indian business leaders, the students spent their evenings preparing for the next day’s case studies and discussions.

Students and faculty flew to Delhi, settled in, and then spent Saturday in Agra before returning to Delhi.  On their first night in New Delhi, the students attended an alumni and prospective students reception, where they had a chance to network with Darden alumni based in India and share their experiences with individuals considering a Darden program.  Company visits in New Delhi included The Times of India Group, Maruti Suzuki, GenPact, Coca Cola, and Dunia.

The GEMBA Class of 2015 will conclude their program this April with their final residency at the Darden School and then graduate in May.

The Global Executive MBA Class of 2015 in front of the Taj Mahal in January 2015

The Global Executive MBA Class of 2015 in front of the Taj Mahal in January 2015

Leave a comment

Darden Faculty International Reach in Winter 2014

The Darden faculty brings their global perspectives and experience not only to the classroom but by also conducting thought-leading research and convening thought leaders from around the globe.  Below are some of the highlights of the recent international reach of our faculty:

HONORS/AWARDS/RECOGNITIONS:

  • Ed Freeman received a Lifetime Achievement Award at the Humboldt Conference on CSR in Berlin, Germany in October.
  • In November, Ed Freeman received an Honorary Doctorate in Economics (Doctor Honoris Causa) from the Hanken School of Economics in Helsinki, Finland.
  • Rajkumar Venkatesan was recognized as top 5% of marketing strategy scholars measured in terms of impact in top tier marketing journals in the past 10 years.

PRESENTATIONS & CONFERENCES:

  • Gal Raz was invited to speak at the World Remanufacturing Summit in Rochester NY that had participants from all over the world on his research “Environmental and Economic Assessment of Remanufacturing for Product + Service Firms.”
  • In October, Liz Demers attended the Contemporary Accounting Research journal conference in Halifax, Nova Scotia, Canada.
  • Andrew King, Senior Researcher at the Batten Institute and a PhD candidate at Darden, travelled to London in September to deliver a presentation on his work with Jeanne Liedtka on design thinking at the Design Management Institute’s annual academic Design Management conference. This year the conference explored “Design Management in an Era of Disruption.”
  • Ed Freeman presented “Rethinking the Purpose of the Corporation” at the 10th Politeia Forum at the University of Milano, Milan, Italy. Ed also presented the keynote address, “Stakeholder Theory and CSR: Where are we and where can we go,” at the Humboldt Conference on Corporate Social Responsibility at Humboldt University in Berlin, Germany.  Additionally, Ed presented at INDEG-IULL in Lisbon and at the University of Tampere and Hanken School of Economics in Finland. Ed also conducted a Research Workshop with RESPMAN Group at Tampere University in Finland and was an opponent on the dissertation defense of Anna Heikkenen of Tampere University.
  • Pedro Matos presented “Asset Management within Commercial Banks Worldwide: International Evidence” at the Luxembourg Asset Management Summit (Luxembourg), at the University of Alabama, the Securities and Exchange Commission and the Stockholm School of Economics (Sweden). Pedro also presented “Foreign Portfolio Investment and Corporate Innovation” at the University of Pittsburgh, University of Kentucky, Manchester University (UK), University of Exeter (UK), University of Bristol (UK) and Virginia Commonwealth University.
  • Kieran Walsh presented “Asset Pricing and the One Percent (joint with Alexis Akira Toda)”’ at a Faculty Macroeconomic Seminar, University of Cambridge in November.
  • Veronica Cacdac Warnock was a featured speaker at the Australian Conference of Economists in Hobart Tasmania, where she presented “Building Sustainable Housing Finance Systems.”  She also presented “Developing Housing Finance Systems: A Global Perspective” at the Indian Institute of Management Bangalore / International Monetary Fund Conference on Housing Markets, Financial Stability and Growth in Bangalore India. With Frank Warnock, she also presented “U.S. Investment in Global Bonds: As the Fed Pushes, Some EMEs Pull” at Banque de France.
  • Frank Warnock presented “Capital Flow Waves” at the Banco de México/IMF high level meeting in Mexico City on “Regional Macroeconomic Strengths and Challenges”.  In Hobart Tasmania, he presented “U.S. Investment in Global Bonds: As the Fed Pushes, Some EMEs Pull” at the Econometric Society Australasian conference. He presented both “The Many Forms of International Capital Flows” and “Housing Finance in Latin America: What is Holding it Back?” at the Indian Institute of Management Bangalore. In Wellington, New Zealand, Frank both served as a panelist in the session “Policy issues related to cross-border financial linkages in Asia and the Pacific” and presented “Cross-Border Portfolios: Assets, Liabilities, and Wealth Transfers” at the RBNZ-BIS Conference on Cross-border Financial Linkages.
  • Sean Carr,  Executive Director of the Batten Institute, and W. Bernard “Bernie” Carlson, Professor, Department of Engineering & Society, SEAS, travelled to King Fahd University of Petroleum & Minerals in Dhahran, Saudi Arabia from 1-5 November 2014 where they gave presentations and led panels during the University’s 2nd Entrepreneurship Forum. Carr originally presented at the first conference at KFUPM in the fall of 2013.  This led to the Saudi delegation making a reciprocal visit to Darden in January 2014. The Saudis continue to learn as much as they can about creating an entrepreneurial ecosystem, with Sean now serving on KFUPM’s Global Advisory Board. Last year this engagement led to a Darden Case Writing & Teaching Workshop at KFUPM, led by Jim Clawson and Gerry Yemen. Outcomes from this burgeoning relationship for Darden this year may include custom Executive Education opportunities with regional corporate partners, such as Saudi Aramco (petroleum extraction & refining) and the Aramco Entrepreneurship Center.

JOURNALS

  • Frank Warnock is the editor of a special issue of the Journal of International Money and Finance on “International Dimensions of Conventional and Unconventional Monetary Policy”.

BOOKS

  • Rebecca Goldberg and Elliott Weiss published a book The Lean Anthology: A Practical Primer in Continual Improvement with CRC Press.

TEACHING MATERIALS

Leave a comment

Fall 2014 Global Field Experience Round-up

Darden’s Global Field Experiences (GFE) program offers second year students an innovative way to learn about solving real, pressing global business challenges.  Student teams, with 2-4 members each, work on a project directly with an organization and produce deliverables designed to shed new light on the challenge and/or solve it.  The students, supported by faculty advisers, consult remotely during most of the project, but also conduct onsite visits in order to further scope the challenge or to present their deliverables.

The following photographs and quotes offer a glimpse into the Fall 2014 GFE experiences from both the student and client perspective.

William Walton (MBA '15) working in Venda, South Africa. William explained, "The project provided great experience managing across different cultural business norms and focusing to meet unique client needs. My trip to Venda to meet the clients was an amazing experience and allowed for important context for the project."

William Walton (MBA ’15) working in Venda, South Africa. William explained, “The project provided great experience managing across different cultural business norms and focusing to meet unique client needs. My trip to Venda to meet the clients was an amazing experience and allowed for important context for the project.”  His client later shared that “the project, improving the webpage, will increase our visibility and accessibility by all our customers.”

Will also had a chance to visit Kruger National Park during his GFE visit to Venda. He saw elephants, zebras, and giraffes!

Will also had a chance to visit Kruger National Park during his GFE visit to Venda. He saw elephants, zebras, and giraffes!

Four students worked on a GFE project that took them to China. The client stated that "

Four students worked on a GFE project that took them to China. The client stated that “the students helped identify important information regarding raw material sourcing and developed a procurement and transportation model around this information. The process was centered around solid interviews, research, and data so the recommendations from it are very practical. This work laid down a good foundation for our company to further refine its supply chain system and saved the company a lot of time and energy during its very busy start-up stage.”

Joe Bright (MBA '15) and Gen Izutsu (MBA '15) conducted field visits during their GFE trip to China.

Joe Bright (MBA ’15) and Gen Izutsu (MBA ’15) on a field expedition as part of the GFE onsite visit in China.  Joe said that the GFE “was a chance not only for Darden students to help a foreign company capitalize on a unique business opportunity, but also a chance for us to learn how business is conducted in another country.”

A group of three students traveled to Manila, Philippines to meet with their client, another higher education institution. They met with top administrators at the school to share their research and suggestions.

A group of three Darden students traveled to Manila, Philippines to meet with their client, another higher education institution. They met with top administrators at the school to share their research and suggestions.                                                                                                                                                                                                                                                                                One administrator commented, “The Darden team gave valuable inputs toward a better implementation of the project . . . they delivered more than what was expected.”

During their onsite visit to Amsterdam, a GFE team had a chance to share their knowledge with a group of young entrepreneurs. This photo shows Rafael Barbosa (MBA '15) and Vaibhav Laddha (MBA '15) presenting.

During their onsite visit to Amsterdam, a GFE team had a chance to share their knowledge with a group of young entrepreneurs. This photo shows Rafael Barbosa (MBA ’15) and Vaibhav Laddha (MBA ’15) presenting.                                                                                                                                                                                                                                                    This GFE client shared that “We are now starting a pilot with the suggestions done by the [Darden] students to improve international recruitment.”

Inkeun Song (MBA '15) takes in Amsterdam during his GFE onsite visit.

Inkeun Song (MBA ’15) takes in Amsterdam during his GFE onsite visit.

Aleksandr Fomin (MBA '15) hard at work with his client in Stockholm, Sweden. Alek's TaskRunner teammate, Amit Rozeman (MBA '15) shared "We met with grad students who worked on a similar project for the company and it was really interesting to share insights with them.”

Aleksandr Fomin (MBA ’15) hard at work with his client in Stockholm, Sweden. Aleks remarked about his experience “I saw the atmosphere of start-up culture in Sweden. I re-confirm for myself that this is the type of culture that I want to be in during my future career . . . start-up is something that I really enjoy.”                                                                                                                                                                                                                                                                                                                                Alek’s teammate, Amit Rozeman (MBA ’15) shared “We met with grad students who worked on a similar project for the company and it was really interesting to share insights with them.”

Michael Filipowski (MBA '15) and Aina Ayodeji (MBA '15) conducted interviews in London for their GFE project.

Michael Filipowski (MBA ’15) and Ayodeji Aina (MBA ’15) conducted interviews in London for their GFE project.

Additionally, Michal (MBA '15) conducted research in South Africa for his GFE client. He also had a chance to visit the top of Table Mountain!

Additionally, Michal (MBA ’15) conducted research in South Africa for his GFE client. He also had a chance to visit the top of Table Mountain!

Darden students take time to explore Kathmandu during their Global Field Experience onsite visit to Nepal.

Darden students take time to explore Kathmandu during their Global Field Experience onsite visit to Nepal.

Leave a comment

Chair of Aston Martin Visits Darden as Executive-in-Residence

In late November, Darden welcomed Dr. Ulrich Bez, Chair and former CEO of Aston Martin, as a distinguished Executive-in-Residence. Darden first connected with Dr. Bez during a GEMBA residency in Europe last year.

Dr. Bez shares his perspectives on Aston Martin as a global brand with Darden students.

Dr. Bez shares his perspectives on Aston Martin as a global brand with Darden students.

While at Darden, Dr. Bez spent his time meeting with faculty and students. He had lunch with the Retail and Luxury Goods Club and discussed the topic of global business and branding with the International Business Society and the European Society. Jack Oakes, Assistant Dean for Career Development,  moderated a discussion between Dr. Bez and a small, selected group of students who had previously expressed interest in careers in the automotive industry.

Edward McDonnell (MBA ’16) shared “I was impressed with Aston Martin’s growth in recent years and Dr. Bez’s attention to detail and focus on differentiating from other luxury brands. For example, Aston Martin puts a lot of emphasis on having each part be beautiful in isolation. The result is fit and finish (gaps and symmetry of the vehicle) that are amazingly consistent and clean.”

Dr. Bez also addressed the community as part of the Leadership Speaker Series.   Some of his key tips for students as they embark upon their careers were:

  1. Fail, but only do it once the same way
  2. Make something new only when making it new makes it better
  3. Take small, but fast steps
  4. Evolution is better than revolution
  5. Manage unavoidable compromises to your advantage
Dean Bruner presents Dr. Bez with his Executive-in-Residence plaque.

Dean Bruner presents Dr. Bez with his Executive-in-Residence plaque.

Dr. Bez’s visit to Darden occurred during the same week as the regional Aston Martin Owner’s Club gathering in Keswick. Darden hosted an exclusive evening event to allow alumni, faculty, and a few selected students to meet and enjoy the company of the Aston Martin owners in town. Dr. Bez charmed the crowd with his remarks after dinner.

Professor Jay Bourgeois explained, “Darden and Aston Martin owners club had a unique opportunity to join forces and host Dr. Ulrich Bez, Chairman of Aston Martin Lagonda.  The combination of Dr. Bez’s insights in reviving a premier global brand and Darden’s world class students, faculty and facilities, provided the Aston Martin Owners Club and Darden alumni with a signature prestige event.  All involved were energized by what some owners described as a glamorous experience.  As one owner confided, “I’ve never seen anything like these facilities!  The food, the setting, and, most important, the quality of the experience was truly memorable.”

Throughout the day, six Aston Martins sat on display in Wilkinson Courtyard and they were lit up during the evening with special lighting for the joint Darden-Aston Martin Owner’s Club event.

Darden students listen to Aston Martin's Chair discuss an Aston Martin on display at Darden

Darden students listen to Aston Martin’s Chair discuss an Aston Martin on display at Darden

Admirers walk past Aston Martins on display in Wilkinson Court at Darden.

Admirers walk past Aston Martins on display in Wilkinson Court at Darden.

Leave a comment

U.S. Ambassador to Sweden Mark Brzezinski Visits Darden

Ambassador Mark Brzezinski visited Darden last week in order to speak with a variety of students, faculty members, and Darden leaders. The Ambassador has been a wonderful supporter of Darden and particularly the Global Business Experiences in Sweden. Read more in this post from this spring.

The Ambassador presented an address open to the entire U.Va. community about the relationship between the United States and Sweden.  He described modern diplomacy as “global approach that is not just about burden sharing, but is instead focused on engaging and consulting with others around the world.”  He emphasized the importance of people to people connections and his, and other diplomats, role in reaching and inspiring young citizens of the millennial generation.

Social media is one of the key platforms the Ambassador uses to communicate with the people of Sweden: “I use Facebook, I use Twitter, I use YouTube to digitally connect with and to bear witness to the people within my jurisdiction. . . using social media as a vehicle for transparency, bringing folks inside the Embassy walls, getting them to engage with us in a respectful, mutual conversation about the challenges of our time, whether it is foreign fighters or the arctic or overseas development assistance.”

Watch Ambassador Brzezinski’s community address here:

A U.Va. undergraduate student, Will Evans, with a strong interest in economic and environmental policy, enjoyed meeting the Ambassador after his community address. Will shared his thoughts on the Ambassador’s comments with the Cavalier Daily in this piece.

During his visit, the Ambassador spoke passionately about his environmental concerns, efforts to raise awareness and to bring the Arctic countries together to combat climate change.  He discussed the work that he has done to increase sustainability and to address the issues facing the Arctic to the Net Impact Club at Darden.  After the presentation, students engaged the Ambassador in a question and answer session, sharing their perspectives and delving deeper into the challenges facing the Arctic.  The students were also curious how the Ambassador’s education and time in Virginia serves him in his career.  The Ambassador, who is a graduate of the U.Va. Law School, explained that, “I love the Virginia outdoors and that is something that I brought to Sweden with me. My strong commitment to the natural resources started in Virginia and really became part of me.”

Watch this short clip to learn more about how the Ambassador’s time in Virginia influenced his perspectives and career:

Leave a comment

Darden and Insper Football Match

Darden welcomed a group of 18 Executive MBA students from Brazil last week for an international partner program, Extensão Darden Insper 2014. In addition to learning about “Networks and Narratives,” the group had time to meet current Darden students, visit Monticello, and play a soccer match with full-time Darden students and faculty.

Click on any photo below to enlarge it and then click the large photo to move to the next one in the series.

Leave a comment

Scandinavia and U.S. Businesses: Is Mutual Imitation a Good Idea?

The Darden Institute for Business and Society just posted an excellent piece on their blog by guest writer UC Berkeley Haas School of Business’ Robert Strand.  Read about Dr. Strand’s concerns about the Americanization of Scandinavia in preparation for the U.S. Ambassador to Sweden, Mark Brzezinski’s, visit to Darden on October 15.

Leave a comment

Darden in Shanghai Fall 2014

Curious about Darden’s recent and upcoming engagement in China?  Check out the latest version of the Darden in Shanghai newsletter.

Also, please save the date for the second annual Darden Shanghai Investing Summit, which will take place on May 8, 2015. More soon!

Leave a comment

Leadership Lessons From Normandy Invasion

By Abena Foreman-Trice

Lessons in leadership are gleaned from the way in which wars are fought and won.

But they aren’t just for the enlightenment of military personnel. B-school students and business leaders benefit a great deal from these lessons as well.

Listen to commentary from Gordon Rudd, dean of academics and professor of strategic studies at the U.S Marine School of Advanced Warfighting…

… as he explains the important connection between military history and business leadership.

First Year MBA students and alumni of the University of Virginia Darden School of Business explored the historic battlegrounds of Normandy, France this past spring in search of leadership lessons that applied not only to the world’s largest seaborne invasion, but that also resonate in the business word.

Normandy exploration

Darden’s First Year Students on the Normandy Ride

The pilot program, called the “First Year MBA Normandy Global Leadership Ride,” challenged Darden students to examine the components of the Allied sea, air and land assaults of D-Day and draw parallels between the leadership actions displayed by soldiers on the battlefield and the leadership actions that the students can take into the boardroom.

The Normandy invasions, which began 6 June 1944, required extensive planning, including military strategy development, the use of communication technology to fool the enemy and lots of practice. Ultimately, the preparations led to the successful execution of a plan to overcome Nazi Germany’s stronghold over France and much of Europe.

The first portion of the program took place on Darden’s Grounds, where students studied the command structure, leadership and operations the invasions required. The experiential learning portion took place over three days in Normandy. Students visited:

  • Omaha Beach, St. Lo
  • Utah Beach, Cherbourg
  • Arromanches and the British Sector

At each location, two students provided a briefing of the events from the Allied and German sides, followed by a 20-minute discussion on leadership and how the actions translated into business.

Full-time MBA student Sonja Pedersen Green led a discussion with the group at St. Lo.

“Hedgerows limited visibility for the Allies and prevented them from seeing the snipers who were firing at them,” said Pedersen-Green. “To improve visibility, an infantryman came up with the idea of attaching devices onto tanks to cut down the shrubbery and improve visibility for the Allies.”

Pedersen-Green, whose summer internship will involve work in strategy and business development, believes this type of bottom-up creativity shows the value in getting ideas from people working on the front lines.

“Getting firsthand accounts is important in business and vital in determining and implementing business strategy,” she said.

She also noted inflexibility as a contributor to Germany’s ultimate failure in the war.

“There were big differences between the Germans and the Allies,” she said. “Allies could make quick decisions on the ground, whereas the Germans had to go through their bureaucracy before they could pivot in a new direction. The Germans operated with more of a hierarchy, and the Allies had a more streamlined reporting structure.”

Normandy cemetary

A moment of contemplation and respect

Not only did the experience evoke lessons in business leadership, but the visits also awakened the students’ senses and allowed them to imagine the dangers that the soldiers faced.

“Looking at the shrubbery and imagining gunfire coming at you that you can’t see allowed you to feel a sense of fear,” said Pedersen-Green.

“We did all the right advance work by diligently studying the extraordinary challenges facing leaders at all levels of the Invasion of Normandy. But being in the field with experienced military leaders and scholars made all the difference,” said Peter Rodriguez, senior associate dean for degree programs at Darden. “The enduring imprint of being engaged at the key touch points of history can’t be replicated anywhere else.”

The pilot program was created through collaboration with Darden faculty members and Gordon Rudd, dean of academics and professor of strategic studies at the U.S Marine School of Advanced Warfighting.

Normandy walking

First-hand experiences leading to greater leadership understanding

“I have had an interest in MBA programs in general for some time and the Darden School in particular due to its reputation. MBA programs are about a great deal more than business and have application to other endeavors involving leadership and management critical to military planning and operations,” said Rudd.

“I think the overriding theme was that events do not always go according to plan, and the questions is: What, as a leader, are you going to do about it? The American attack at Pointe du Hoc emphasized this point,” said Gaither Shaw (MBA ’71), one of the two Darden alumni to attend the pilot program.

Shaw explained that the commander for this particular mission, Major Cleveland A. Lytle, spoke against the campaign and was under the influence of alcohol the night before the attack. Against orders and in the face of seemingly impossible odds, Lieutenant Colonel James Earl Rudder took command and went ashore, leading his men to accomplish the mission.

“Also, the importance of trained, lower-level commanders stepping up under duress was repeated time after time,” said Shaw.

As in war, business is filled with surprises and uncertainty. Darden strives to develop leaders who can make decisions while dealing with unforeseen challenges.

Normandy beach

Darden students and faculty leaders explore the Normandy beach

Leave a comment