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Michigan Ross Alum and Zoup! CEO Talks Creating Opportunities, Overcoming Failure, and “Paying It Forward”

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Michigan Ross Alum and Zoup! CEO Talks Creating Opportunities, Overcoming Failure, and “Paying It Forward”

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Eric Ersher, BBA ’86, beat the odds in the restaurant and franchise business with his vision for Zoup! 

Founded in 1998, Zoup! offers a wide variety of daily soups served with a generous portion of freshly baked bread. The menu also includes made-to-order salads and sandwiches. Soup recipes range from low-fat to gluten-free, vegetarian to dairy-free, and classic to spicy, but one thing remains consistent – delicious, high-quality soup at the heart of every meal. 

After Ersher sold his air duct cleaning business in 1990, he went to Law School, then attempted a change of pace by making proprietary spice blends for small restaurant chains. One of those restaurants wanted a blend for soup. Inspired, Ersher and his cousin leased the kitchen of a former General Motors auto plant in Detroit and built a small soup commissary. 

As Ersher explored the restaurant industry, he noticed that soup was often considered an afterthought to other foods. In addition to this, really good soup was hard to find – perhaps due to the homemade nature of the dish.

“When we told people we were in the soup business they would very often want to share recipes and stories of their childhood, their grandmother, travel,” Ersher said. “It occurred to us that soup, unlike any other food category, seemed to elicit thoughts of comfort, warmth, and well-being for many. Those early experiences were the inspiration behind creating the Zoup! brand and opening our first location in Southfield, Michigan.”

With more than 80 locations across the United States and Ontario, Canada, about a dozen unique daily soup options, consideration for increasingly dynamic customer dietary needs, and encouraged sampling, Zoup! has proven to be a success.

Zoup!’s success cannot only be attributed to the customer experience, but also Ersher’s desire to help people become successful independent business owners.

“After five company locations in five years, we began the process to franchise the Zoup! concept,” Ersher said. “I was thrilled when the first franchisee was from — and opening in —  Ann Arbor. I knew it was the right market for the brand.”

Ersher was no stranger to Ann Arbor; Michigan Ross was a key part of his journey to entrepreneurship.

“My business school experience taught me the value of working in teams and building relationships with other industry experts, and that I was more capable than I thought,” Ersher said. “That is what motivated me to attend law school and start my businesses.”

Constant growth and evolution are other forms of motivation that Ersher says have driven both his personal success and professional success at Zoup!

One of our Zoup!isms is Always Better – it keeps things interesting and challenging,” said Ersher. “Setting the vision, building and developing our team, and now having the ability to work with specialists so I, too, can create value by being more aligned with my unique abilities and strengths are all ways that Zoup! is relentlessly working on improvement.”

Overcoming failure is another way that Ersher remains a positive business leader. He says that throughout his experience he has learned that failure, embarrassment, and losses are never permanent.

“Missteps and shortcomings can be more accessible to entrepreneurs, but more often than not, I realize that my failures were inaction rather than an actual misstep.” 

It's readjustment of perspective that Ersher says can be most beneficial in times of perceived failures. He also believes that other business leaders and even students can benefit from a greater purpose and focus to keep them on track.

I, as well as much of our team, are motivated by serving the greater good, whether it is helping franchise owners become successful or providing the tools and coaching to create a great [company] culture, offering great service to our customers, and in many cases, entry-level workers who may have never had a job before. The idea of creating an environment that is supportive and nurturing moves all of us.”

Ersher says that developing the untapped potential in his team also motivates him to know that they can do almost anything they put their mind to when they rid themselves of past or external constraints. He reflects on the joys of helping others become successfully self-employed, and bringing out the best in people is one of the things he is most proud of as a business leader.   

Making a living doing what I love with a committed group o  professionals who challenge me is one of the things I enjoy most about my job,” Ersher said. “One thing I always try to remember is the excitement and enthusiasm I felt as a B-school student, and how charged up I was after business leaders came in and shared their wins and losses. Now, at any opportunity, I say yes to pay that experience forward to the extent I am able.”


Six Members of Michigan Ross’ Full-Time MBA Class of 2021 Featured As ‘Real Humans’ By Clear Admit

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Six Members of Michigan Ross’ Full-Time MBA Class of 2021 Featured As ‘Real Humans’ By Clear Admit

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Clear Admit highlighted six students from the Full-Time MBA Class of 2021 at the Ross School of Business in a new “Real Humans of MBA Students” series, which seeks to provide insight to prospective students on the real people in MBA programs.

Besides showcasing the unique perspectives of the students, the feature also emphasizes how the Michigan Ross MBA program is designed to help graduates have a positive impact in the global business environment. 

“Across the world within virtually every imaginable field, Ross alumni have garnered a reputation for taking on positions of significant social and cultural impact. And the Class of 2021 only seeks to perpetuate the Ross legacy,” wrote Clear Admit.

The Real Humans featured from the Ross MBA Class of 2021 are: 

  • Alexandra “Lexx” Mills - a former Fulbright teaching assistant in Malaysia and impact investor from Baltimore, Maryland

  • Arshaq Wazeem Razack - an e-commerce executive from Cochin, Kerala, India who worked at Flipkart (Amazon’s competitor in India)

  • Dave Horvath - a West Point graduate and former special operations troop commander with the U.S. Army serving tours in Iraq, Germany, and Djibouti

  • Ebrar Erdem, a pharmaceutical professional from Istanbul, Turkey, focused on digital initiatives in emerging markets 

  • Iman Shakeri, a consultant at Deloitte from Richmond, Virginia, whose long term goal is to become a professor and teach courses on the “social impact ecosystem”

  • Marcos Coppa Gomes Filho, a tech entrepreneur and mentor for a major business startup accelerator in Latin America 

Each student featured by Clear Admit answered questions about why they are pursuing their MBA at Michigan Ross, their experience in the MBA program, and their advice for prospective students. 

For Erdem, the choice to attend Michigan Ross came down to its action-based curriculum, strong alumni network, and the option to define her own MBA trajectory through the school’s new Pinkert Scholar program, where selected students interested in healthcare business and innovation are supported with a scholarship, mentorship program, and sponsorship for national conferences and workshops. “As a proud Pinkert scholar, I realized how Ross understands students’ interests, customizes its MBA program accordingly, and supports you with various resources,” she said. 

Other students  emphasized the diversity and values of Michigan Ross as why they chose to pursue their MBA at the school.  “Business school is an incredibly challenging environment and witnessing the diversity (in the Michigan Ross program) signaled to me that this was a space where I would be supported and a school that shared my values,” wrote Mills.

Shakeri mentioned one of the most valuable and surprising parts of his experience in the Michigan Ross MBA program to date: “Ross is a small world. Amongst the 420-plus students, you will surely find someone who at some point in time crossed paths with you and you were never able to make the connection. I have come to really value some of those friendships, and it has reinforced the notion that while business school can be stressful, you’ll always have people who can understand where you are coming from and what you’ve done.”

Read more about the Real Humans from the Michigan Ross MBA program and the school’s MBA programs here.

Students Use Faculty Research To Develop Real-World Applications For Reducing Inequality At The +Impact Studio at Ross

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Students Use Faculty Research To Develop Real-World Applications For Reducing Inequality At The +Impact Studio at Ross

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Around 60 students from six schools across the University of Michigan gathered in the +Impact Studio at the Ross School of Business on Nov. 21, to take insights from Michigan Ross faculty and create ideas on how to reduce inequalities around the world. The event was the second workshop in Business+Impact's new Faculty Research for Impact (FR4I) series this year.

Each workshop in the series takes on a different UN Sustainable Development Goal (SDG) and features a panel of faculty experts who present their related research to students. Then, the students participate in a design activity to develop ideas for real-world applications of the research directly addressing the goal.

“The purpose of these events is to take a very high-level impact issue like a UN SDG, view it through the lens of relevant scholarly research, and then have the students distill and articulate specific avenues we could pursue,” said Jeffrey Sanchez-Burks, faculty director of the +Impact Studio course, who led the FR4I workshop. 

For this event, Jun Li, associate professor of technology and operations, shared her research into discrimination in the sharing economy; Yesim Orhum, associate professor of marketing, shared her research into how liquidity constraints impact low-income households’ ability to take advantage of price promotions; and Chris Rider, associate professor of strategy, shared his research into racial disparity in promotion rates for NFL coaches and, specifically, the effectiveness of the Rooney Rule (a highly replicated rule that requires at least one member of a racial minority group to be interviewed for each open head coach position).

Following the research presentations, students were divided into small groups, with each one using a specific faculty member’s research for the design activity. 

The students’ first assignment was to generate as many ways as possible to think about the problem of reducing inequality. The goal was to discover different ways the problem could be understood, and then to identify the most viable and impactful idea. Teams took the idea and converted it into a “How Might We” opportunity statement that could direct next steps. Finally, the students considered reasons they want to solve the problem and what obstacles are preventing people from solving the problem now. 

After the design activity, the students came back together and explained their final statement to the group and shared how to help others use these tools to design for impact.

“Using Professor Orhun’s research, we shifted the conversation away from changing consumer behaviors to instead focusing on a mutually beneficial opportunity for big-box stores and these consumers who pay the poverty penalty (the notion that poor people end up spending more on everyday goods),” said Jane Xie, MBA/MS ’22. “We are curious how these retailers can capture this customer segment that isn’t currently shopping in their stores, but could hugely benefit from the lower price per item they could buy.”

Xie, who has participated in design activities before, said she really enjoyed the FR4I event and the opportunity to take on such an important problem. “I specifically liked the exploration process of this activity, which enabled my group to focus on the gaps surrounding the problem, rather than trying to solve the problem,” she said.

Sanchez-Burks left the students with this final thought to consider: “We need to spend more time trying to understand big problems if we are going to solve them. And, in doing so, we need to take on really important issues like inequality as we did tonight.”

Michigan Ross Alum Is Working To Lower The Cost Of Internet Access In Africa

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Michigan Ross Alum Is Working To Lower The Cost Of Internet Access In Africa

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Connectivity looks very different in emerging markets, and especially in Africa, where historically the cost of internet and mobile devices have prohibited the majority of the population from accessing the internet. That’s now changing, thanks to advances in technology, the falling price of smartphones, and the work being done on the ground by leaders like Alicia Levine, MBA ’11. 

In 2015, Levine moved to Kenya and became COO of Surf Kenya, a newly launched subsidiary of EveryLayer, a company that uses its proprietary software stack to deliver high-speed, affordable broadband.

Advancements in mobile digital services, particularly in critical areas such as communications, financial services, and healthcare, are causing a huge spike in demand for access to the internet globally, including in Africa.”
-Alicia Levine, MBA ’11
Director of Business Transformation, BRCK

“In Kenya and much of Africa, people use their mobile devices as their primary means of accessing the internet, oftentimes in one location — such as their local market, a local eatery, or a frequented beauty shop — and we knew that a network of public hotspots would be extremely effective and much cheaper than a large mobile network, said Levine. “We also knew that the network was only half of the equation. We also needed a new way of doing business to ensure affordability for our customers.” 

To dramatically lower the cost, Levine said Surf innovated new business models to pay for internet, scaling lower cost networks and subsidizing costs by awarding data bundles in exchange for engagement such as sponsored app downloads, video advertisements, or consumer surveys. 

Thanks to a strategic, local approach to technology deployment, by the time Surf was acquired by BRCK in February 2019, the company had 65 employees and was connecting more than 200,000 people a month to the internet in Kenya. 

For students considering pursuing similar, more nontraditional career paths, Levine advised: 

“Don’t be afraid to jump in and try something new and take a chance on a new technology or business model. If you want to do tech in Africa, take the leap and move to where you want to be. You’ll be energized and inspired by what’s happening around you every day.”  

Online MBA Student’s Startup Featured In Forbes, Credits Michigan Ross For Helping Her Grow The Business

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Online MBA Student’s Startup Featured In Forbes, Credits Michigan Ross For Helping Her Grow The Business

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Along with starting in the new Online MBA program at the Ross School of Business this fall and working full time at Fannie Mae, Liza Kameen, OMBA ’22, has been focused on building her own business. Paintru, an e-commerce site she launched with her husband in 2019, was recently profiled in Forbes for its potential to “revolutionize the market for made-to-order art.”

Paintru specializes in turning photographs into works of art by connecting customers with local artists via an online platform. Kameen said the motivation behind Paintru stemmed from a desire to have a beloved photo painted for an anniversary, but discovering that the options were very expensive and had long production times. “We realized there had to be a better way,” she said. 

While Kameen and her husband began hiring website builders and developing the business plan for Paintru, she was also applying to the Michigan Ross Online MBA program. 

“I recognized that I was launching a company and didn’t know about certain areas of running a business, such as marketing and finance,” she said. In addition, Kameen thought an MBA would help accelerate her career at Fannie Mae, where she works in human analytics. 

After only a few months into the online MBA program, Kameen said she has already been able to apply knowledge gained in the accounting and statistics classes directly to managing Paintru’s growth. As Forbes noted, the company has taken off thanks to an innovative partnership with a framing startup, Framebridge, and expansion into corporate and commercial markets. 

“I’ve been acting as CFO of Paintru, and taking the concepts taught in just those two classes has allowed me to build out our financial statements and conduct market segmentation analysis of the stats behind our customer base,” said Kameen. 

Beyond teaching the skills she needs to successfully grow Paintru, Kameen credits the flexibility of the Ross online program in enabling her to handle her heavy workload and still maintain family life. 

“Between the asynchronous and synchronous classes, the program is flexible enough that I can time block coursework in throughout the week where I have time,” she explained.

Flexibility also was a key factor in Kameen choosing Michigan Ross for her MBA, as the online program allowed her to pursue a degree from an elite business school while not leaving her current position at Fannie Mae, or moving from California, where her husband is stationed in the military. 

So far, one of Kameen’s favorite aspects of the online program has been the synchronous classes with her OMBA classmates and Ross faculty members. 

“The live classes are super interactive, and the professors really include students in conversations — they’ll even cold call you,” she said. “The technology is also amazing; it is even capable of allowing us to break out into group discussions.” 

Looking several years into the future, Kameen said she’d ideally like to be working full time at Paintru, focused on expanding her business. Or, if that doesn’t work out, she plans to use her MBA to move into a more senior level leadership position at Fannie Mae. 

“Regardless of what happens, I’m confident that my MBA degree from Michigan Ross and the connections made in the program will get me to where I want to go,” Kameen said. 

Michigan Ross To Recognize Distinguished Business Leaders For Outstanding Contributions To Accounting Education

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Michigan Ross To Recognize Distinguished Business Leaders For Outstanding Contributions To Accounting Education

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The University of Michigan Ross School of Business has announced the 2020 recipients of its Honorary Paton Fellow Award. Ross alumni Robert M. Patterson, BBA/MAcc '96, and Jack S. Darville, MBA ‘70, will be recognized during a special induction ceremony on March 26, 2020.

The award is presented annually to individuals who are seen as “rising stars” within the accounting profession, for their lifetime contributions to industry, or for their service that has positively impacted Michigan Ross accounting education. In addition to naming the Honorary Paton Fellow Award recipients, Michigan undergraduate juniors and seniors with exemplary academic performance are named Paton Fellows. Senior fellows who go on to pursue a Master of Accounting degree from Ross, and maintain a 3.5 cumulative GPA, will receive tuition assistance of at least $15,000.

“It is an honor to recognize Patterson and Darville as the Honorary Paton Fellow Awards recipients this year,” said Reuven Lehavy, faculty director of the Paton Accounting Center. “I extend sincere congratulations to them on their achievements from the Paton Accounting Center, the Paton Advisory Board, Michigan Ross, and myself. We look forward to celebrating their leadership within the accounting industry, their dedication to advancing accounting education, and their support of the next generation of accounting professionals in March.”

Patterson

Patterson is a two-time Michigan Ross alum, earning his Bachelor of Business Administration and his Master of Accounting degree in 1996. He serves as chairman, president, and CEO of PolyOne Corp., the world’s premier provider of specialty and sustainable polymer materials, services, and solutions. PolyOne is an ACC Responsible Care® company and a founding member of the Alliance to End Plastic Waste. Patterson joined PolyOne in 2008, as senior vice president and chief financial officer, and went on to become chief operating officer before rising to CEO. Prior to PolyOne, he worked at Novelis, Inc., an Atlanta-based international manufacturer of aluminum-rolled products, holding the position of vice president, controller, and chief accounting officer. In addition to his professional accomplishments, Patterson served on the Michigan Ross Alumni Board of Governors from 2010-2015. He is a strong supporter of accounting education and consults with Ross professors on current industry trends.

Darville

Darville received his MBA from U-M in 1970, where he was a Paton scholarship recipient. He spent 24 years as a partner at PricewaterhouseCoopers LLP and its predecessor firm Price Waterhouse, retiring as an audit partner in 2006. Darville has been a director for public corporations, and for numerous voluntary organizations in the social services, health, and education sectors. For example, he served as a board member for the Paton Advisory Board for Excellence in Accounting Excellence, including as Board chair. He has endowed several scholarships, including the Pamela Jane Bryant Scholarship in 2000 for women in the Master of Accounting program at Ross. Additionally, Darville is a graduate of McMaster University in Hamilton, Ontario, Canada, where he received his bachelor of commerce degree in 1968. He was inducted into the Alumni Gallery of McMaster University in 2005, and is a Fellow of the Ontario Institute of Chartered Accountants.

About Michigan Ross

The Stephen M. Ross School of Business at the University of Michigan is a vibrant and distinctive learning community grounded in the principle that business can be an extraordinary vehicle for positive change in today's dynamic global economy. The Ross School of Business' mission is to develop leaders who make a positive difference in the world. Through thought and action, members of the Ross community drive change and innovation that improves business and society.

Ross is consistently ranked among the world's leading business schools. Academic degree programs include the BBA, MBA, Part-time MBA (Evening, Online, and Weekend formats), Executive MBA, Global MBA, Master of Accounting, Master of Supply Chain Management, Master of Management, and PhD. In addition, the school delivers open-enrollment and custom executive education programs targeting general management, leadership development, and strategic human resource management.

New Proposal In Congress Would Implement Ross Professor’s Ideas On Bank Mergers

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New Proposal In Congress Would Implement Ross Professor’s Ideas On Bank Mergers

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A new bill in the U.S. Congress this week would strengthen standards for bank mergers in several ways advocated by Jeremy Kress, assistant professor of business law at the Ross School of Business. 

Kress, who is also a lawyer, worked with congressional staff members to draft the proposed legislation, based substantially on a recent paper he published. The bill would strengthen the legal standards under which federal regulators analyze applications for bank mergers in several different ways, largely paralleling the arguments in Kress’ paper.

The Bank Merger Review Modernization Act is sponsored by Sen. Elizabeth Warren, D-Mass., who is currently a candidate for the Democratic Party presidential nomination; Rep. Chuy Garcia, D-Ill.; Rep. Rashida Tlaib, D-Mich.; and Rep. Jan Schakowsky, D-Ill.

If approved and signed into law, the bill would:

  • Give the Consumer Financial Protection Bureau the authority to stop a bank merger if the banks have poor records on consumer protection.

  • Require that merging banks have records of consistent lending in low- and moderate-income communities, and that they develop formal plans to meet future credit needs of these communities.

  • Add new requirements for the merging banks to demonstrate their financial strength and stability.

  • Instruct regulators to consider specific effects on competition of any proposed bank merger.

  • Require more transparency in communications between banks and regulators.

  • Give citizens the ability to challenge merger approvals in federal court.

A press release from Warren about the bill quotes Kress as saying, “Lax oversight of bank mergers hurts consumers and endangers the financial system. This bill will restore rigor in the merger review process and ensure that banks may merge only when it is in the public interest.”

Kress has been making quite an impact in Congress this year. In July,U.S. Rep. Chuy Garcia quoted from an American Banker op-ed that Kress wrote on the Federal Reserve being a rubber-stamp for bank mergers, in front of the House Financial Services Committee on the proposed merger of SunTrust and BB&T. And, in March, Kress appeared in front of the  U.S. Senate’s Committee on Banking, Housing, and Urban Affairs to warn about the dangers of failing to properly regulate nonbank financial institutions. 

READ MORE ABOUT THE LEGISLATION

READ A Q-AND-A WITH JEREMY KRESS

READ THE FULL PAPER

One-Third Of Michigan Ross Full-Time MBA Class Of 2020 Donates To The Give-A-Day Fund, Receives $10,000 Match On Giving Blueday

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One-Third Of Michigan Ross Full-Time MBA Class Of 2020 Donates To The Give-A-Day Fund, Receives $10,000 Match On Giving Blueday

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During the University of Michigan’s Giving Blueday, the student-run Give-A-Day Fund at the Ross School of Business received thousands of dollars in donations from nearly 100 students, faculty, and staff, which unlocked a $10,000 matching grant from an anonymous donor.

So far in 2019, more than one-third of the Michigan Ross Full-Time MBA Class of 2020 have donated to the Give-A-Day Fund, which supports full-time MBA impact interns with funding from their fellow students. 

A total of 97 donations came in from the Michigan Ross community on Dec. 3 — the most ever received for this fund on Giving Blueday, the annual day of giving at U-M that coincides with Giving Tuesday, a global day of giving following Thanksgiving weekend. The donations received to date this year will provide a 70 percent increase in year-over-year funding for first-year MBA students who pursue nontraditional, impact-focused internships.

In addition, Section 2 of the Ross FTMBA Class of 2020 achieved the highest participation of any section in the event’s seven-year history, and as a result, will receive funds from the Business+Impact Initiative at Michigan Ross to help defray the costs of that section’s annual holiday party.

Launched in 2012, the Give-A-Day Fund provides financial assistance to full-time MBAs at Ross interning with impact organizations and is a first-of-its-kind initiative among U.S. business schools. As its name implies, MBA students are asked to donate a day of their summer internship salary to make the fund’s support possible. Managed by Business+Impact, funding is given to students based on financial need and the focus of their impact internship. 

For Giving Blueday 2019, U-M raised more than $4,242,531 from 15,887 gifts made by the global Michigan community, including many from Michigan Ross, in just 24 hours. The university uses donations raised from the event to provide impactful support for programs, scholarships, and research across its three campuses.

LEARN MORE ABOUT BUSINESS+IMPACT


Michigan Ross BBAs Share Business Concept For Achieving Carbon Neutrality At U-M With President Schlissel

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Michigan Ross BBAs Share Business Concept For Achieving Carbon Neutrality At U-M With President Schlissel

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Working toward carbon neutrality is a major priority at the University of Michigan, and students at the Ross School of Business have embraced this challenge and are exploring business solutions to help the university achieve its goals.

For the Ross Integrative Semester (RIS) Challenge, all 625 juniors at Michigan Ross worked in teams to develop creative business solutions to help U-M reimagine building standards, develop new models of energy consumption and transportation, and improve sustainable food systems in university dining. 

As part of the RIS Challenge, the BBA student teams pitched their ideas to a panel of expert judges at a competition sponsored by the Zell Lurie Institute in October, and the winning team had the opportunity to discuss their business concept with U-M President Mark Schlissel and Scott DeRue, Edward J. Frey Dean at Michigan Ross, in November.  

The winning team, Greener Dining, consisted of Ross juniors Brenda Bekins, James Nedeltchev, Katie Xu, Keaton Berger, and Maxwell Abrams. The team focused on increasing energy efficiency in university dining. To achieve this, the team pitched an automated appliance management system for campus dining halls, allowing machines to be automatically turned off during times when they are not being used as well as monitoring their energy usage. 

“Achieving carbon neutrality at the University of Michigan is a tremendous opportunity and challenge that will require rethinking and reimagining sustainability across nearly every facet of the university,” said DeRue. “President Schlissel and I were very impressed with the creativity and innovation demonstrated by the student teams, and in particular the Greener Dining concept. I’m also proud that Ross students are taking an active role in tackling this university-wide challenge, which reflects our desire to create purpose-driven leaders who seek to make a positive difference in the world.” 

The RIS is a signature experience of the Michigan Ross BBA program where all juniors take the same curriculum of highly-integrated, interdisciplinary courses. During the RIS experience, students work in teams to develop business solutions to the grand and global challenges of our generation, such as the United Nations’ Sustainable Development Goals. This was the first year that the RIS Challenge focused on making an impact at U-M; in previous years, student projects addressed issues globally, nationally, and in Detroit. 

“By connecting the RIS Challenge to the U-M carbon neutrality initiative, we dramatically increased the quality of the experience, as the projects became even more meaningful and tangible to students,” said Amy Young, faculty coordinator of RIS and lecturer of business communication. “This is a wonderful example of ‘think globally, act locally.’”

Last year, President Schlissel committed U-M to establish an effective path toward carbon neutrality for the university community and beyond. In February, the President’s Commission on Carbon Neutrality (PCCN) was appointed to develop recommendations for how to achieve carbon neutrality for U-M, as well as develop scalable and transferable strategies that can be used by other institutions and larger communities. 

As evidence of the importance of Ross BBAs’ projects, the ZLI competition was included in the Fall 2019 Interim Progress Report the PCCN released on Dec. 2. 

“The goal of the RIS Challenge is to get students to use all of what they are learning, across the Ross curriculum, to recognize how their business knowledge can be applied to real-world business problems and important societal issues,” said Norm Bishara, associate dean of Undergraduate Programs at Michigan Ross. “We are thrilled that the juniors' work was recognized by President Schlissel and the PCCN for their role in crafting a creative business approach to pursuing U-M’s carbon neutrality goals.” 

Based on the success of the 2019 RIS Challenge, Young said future challenges will also focus on sustainable development at U-M. 

Meet The 2019 Reaching Out MBA Fellowship Recipients From Michigan Ross

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Meet The 2019 Reaching Out MBA Fellowship Recipients From Michigan Ross

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Since 2016, the Ross School of Business has participated in the Reaching Out LGBTQ MBA Fellowship as part of its efforts to attract a more diverse student cohort. This year, Michigan Ross welcomed two full-time MBA students, Sean Drimmel, MBA ’21, and Kate Reardon, MBA ’21, as Reaching Out MBA Fellows. 

The Reaching Out MBA Fellowship was created to develop the careers and leadership potential of out LGBTQ business students. Each fellow is awarded a minimum $10,000 scholarship per academic year or $20,000 total, and also receives exclusive mentorship and leadership development programming through Reaching Out.

Reaching Out MBA asked Drimmel and Reardon a number of questions on their backgrounds and why they chose to attend business school. We’re proud to have them represent Michigan Ross.

Sean Drimmel

Prior to coming to Michigan Ross, Drimmel worked in go-to-market strategy and operations at Salesforce. He also worked as the San Francisco lead of Outforce, Salesforce's group for allies of sexual orientation and gender diversity, spearheading programming and partnerships throughout the year for events such as San Francisco Pride, World AIDS Day, International Day of Families, and Spirit Day.

During his undergraduate education at the Haas School of Business at UC Berkeley, Sean co-founded Out 4 Business, the university's first LGBTQ business student organization. In addition, he was heavily involved with Out for Undergrad, a national nonprofit that helps high-achieving LGBTQ undergraduates reach their full potential. 

The reason Drimmel chose to pursue his MBA and come to Michigan Ross: “I strongly believe that the lessons, relationships, and experiences acquired both inside and outside of the classroom cannot truly be replicated elsewhere. Through student organizations, course offerings, group projects, and other action-based learning opportunities, business school — and Ross, specifically — will help me transition into tech product marketing and become a successful overall leader.”

Kate Reardon

Originally from the Boston area, Reardon earned her undergraduate degree at Connecticut College, majoring in mathematics and anthropology. She stayed active during those years playing on the field hockey, ice hockey, and lacrosse teams, then used her athletic background as a springboard for coaching collegiate ice hockey while earning a master's degree in sport management.

Kate’s passion for sport-based youth development led her to explore a career in secondary education, including her most recent role as the director of athletics at a startup school near Boston, where she built an educational athletics program anchored in the school's mission to educate, enlighten, and empower young women.  

Her reason for selecting Ross is clear: “I am most excited by the abundance of hands-on learning opportunities at Ross and the large portion of these opportunities with a social impact focus. Having been in education for an extended period, I am looking forward to meeting and working with people from a diverse array of professional backgrounds on projects like these.”

CREATING AN INCLUSIVE COMMUNITY AT MICHIGAN ROSS

In addition to partnering with Reaching Out MBA, Michigan Ross strives to create an inclusive community for students. The school is home to many LGBTQ clubs and associations, including Out For Business, an LGBTQ and ally student association, which hosts activities such as the National Coming Out Week awareness campaign; MBgAy, an annual charity fundraiser; and other professional development events.

​Hear from other members of the Michigan Ross LGBTQ community on the Student Voices Blog.

Gift Guide 2019: Make the Season Bright with these 10 Products from Michigan Ross Alumni

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Gift Guide 2019: Make the Season Bright with these 10 Products from Michigan Ross Alumni

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It’s that time of year again and holiday shopping is in full effect. We all know that it can be tough to decide on the right gifts, so with just a few days to spare, we’re here to offer a helping hand. 

We’ve compiled a list of the great products and companies led by Michigan Ross alumni. From unique clothing designs to companies with a cause, these gift options are sure to paint the town blue! 

Here are our top 10 picks for 2019:

KITCHEN APPLIANCES

SARDEL 

Andrew Kamhi, BBA ‘15

Sardel is a direct-to-consumer kitchen brand. Their mission is to improve and disrupt the kitchenware industry by creating luxury products sold at an honest price through an engaging customer experience.

“We challenged ourselves to create a line of essentials that would provide the upgrade our kitchens so desperately needed – products that are beautifully classic in design, crafted with high-quality materials, and vastly more attainable in price than the high-end brands we were accustomed to seeing,” the company says.

“We also wanted to create a cookware brand that actually helps people in the kitchen, encouraging people to feel comfortable with their cookware and how to properly use it.”

MORE ABOUT SARDEL


DRINKMATE

Jim McElroy, BBA ’76/MBA ’82

Based in Ann Arbor, Drinkmate proclaims to be “the world’s first home carbonation system that allows the customer to directly carbonate (their own) beverages.” The drink machine can create carbonated juice, tea, cocktails, or even healthy alternatives to traditional soft drinks. 

Drinkmate comes in various finishes, colors, and kits, offering customers limitless possibilities to create any drink their heart desires.

MORE ABOUT DRINKMATE


APPAREL

MADHAPPY

Peiman Raf, BBA ’16

A lifestyle and streetwear brand co-signed by Cardi B and Gigi Hadid aiming to spread positive, inclusive, and unique messages in a typically exclusive fashion world. Driven by their mental health mission, Madhappy creates products and experiences to uplift people, and offers “an optimistic approach to the Millennial generation”, as described by Forbes.

Madhappy places social good at the forefront of the brand by building an inclusive community and safe space for its supporters both online and through pop-up events around the U.S.

The company says that everyone can interpret “Madhappy” differently, “It’s recognizing that everything isn’t perfect because it shouldn’t be,” they continue. “It’s realizing that the lows make the highs.”

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MATA TRADERS 

Christine Kwon, MBA ’13

These spirited, original prints and designs are perfect for anyone on your mind this holiday season. And the best part? You don't have to sacrifice ethics for style. Mata partners with fair-trade artisan cooperatives in India and Nepal where members promise fair wages, safe working environments, and access to childcare and workshops on topics like computer training, finances, and nutrition. In many cases, it means artisans are able to send their children to school, helping to break the cycle of poverty.

Special Offer: Use discount code GOBLUE for 20% off your first order!

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HOLLY KEITH LINGERIE

Holly Meyers, MBA ’19

Large-bust lingerie expertly crafted for true luxury. After years of research, Holly Keith Lingerie invented a new bra-sizing system with real women’s bodies in mind. The system allows women to focus on fit instead of standard sizing labels.

“Women should feel confident in their lingerie, no matter their size.”

MORE ABOUT HOLLY KEITH LINGERIE


SWITCH

Elliott Darvish, BBA ’11
 “Be you. Do you.” That is the mantra that Switch uses to empower their customers to discover and express their best selves. How so? By becoming a Switch member.

Switch is a jewelry membership service that allows you to access curated jewelry collections, including iconic fashion houses like Hermes and Chanel, couture brands, and emerging designers.

The membership grants customers boxes of jewels that they can enjoy for as long as they like, and “switch” when they’re ready to make an exchange for something new. Each month, they also earn credit toward buying pieces at special member prices.

Plans start at $29/mo.

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GIFTS & STATIONERY

GRANDPA SHORTER’S GIFTS, INC

Jennifer Shorter, BBA ’96

Since 1946, this family-owned shop has provided unique, Michigan-themed gifts and Petoskey stones for all occasions. An array of gifts including hats, shirts, signs and more keeps customers searching for their next perfect selection each holiday. With special orders, handcrafted local items, and personalization options, you’re sure to find something for even the toughest recipient on your list.

MORE ABOUT GRANDPA SHORTER'S GIFTS


TRUE BLUE AUSTRALIA

Daniel Gordon, BBA ’07

True Blue Australia is one of Australia's largest manufacturers of postcards, greeting cards, and locally-produced souvenirs. The company produces glass and clay jewelry in-house, and also offers glass art, books, cards, accessories, and beautiful canvas art that is sure to add flair to any space. 

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THE BUSINESS CASUAL YOGI

Vish Chatterji, MBA ’05

This book puts a spin on modern wellness using ancient yoga traditions to create powerful new processes – perfect for the business professional in your life. The Business Casual Yogi stands on the premise that “as yoga pervades mainstream society, its philosophies, frameworks, and techniques are proving increasingly relevant to the modern business world’s obsession with personal leadership development.” 

The book offers physical and mental exercises, personalized guides for diet and lifestyle, and tools such as meditation and breathing exercises.

“This practical guidebook provides accessible methods to leverage the yoga tradition as a tool to unlock one’s fullest creativity, leadership potential, and overall well-being,” the company says. “The simple framework will help you attain greater happiness, balance, and success.”

MORE ABOUT THE BUSINESS CASUAL YOGI


BABY

LALO

Michael Wieder, BBA ’10

Lalo is a modern baby and toddler brand built for today's families. The company offers minimalist high chairs and stroller designs derived from their commitment to education, honesty, safety, and quality. 

“Our products are thoughtfully designed to fit right into your life,” Lalo says. “While our design philosophy is less is more, we bundle our products to give you more for less. We're also committed to making family life better by donating a portion of sales to nonprofits focused on issues of fertility, perinatal care, and education.”

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VIEW OUR 2018 GIFT GUIDE
  VIEW OUR 2017 GIFT GUIDE

 

Michigan Ross BBA Alum's Bicycle Generator Featured in the Leading Trade Industry Publication

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Michigan Ross BBA Alum's Bicycle Generator Featured in the Leading Trade Industry Publication

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Adam Hokin, BBA ‘19 and co-founder of PedalCell, was highlighted by Bicycle Retailer and Industry News for creating an alternative bicycle power source called CadenceX.

 

According to the article, Hokin and PedalCell followed Apple’s blueprint to “devise a closed system more powerful and efficient than what’s on the market.” Bicycle Retailer recognized PedalCell for introducing an innovative power source capable of sustaining advanced devices, like smartphones and cycling computers, in a way that the industry has not yet seen.

CadenceX, a weather-proof bicycle generator and charger, powers up to two USB devices at a time and generates 15-20 watts of energy, compared to 3-6 watts from a typical generator. PedalCell’s patent-pending firmware uses supercapacitors, instead of a battery, to convert energy from the bicycle's motion into steady and stable electricity to power devices. 

According to Hokin, CadenceX is the answer to a major problem for cyclists who previously had to worry about running out of juice. Now, cyclists can ride easy knowing that the device will continue to work regardless of speed with minimal drag.   

CadenceX is a part of several larger movements including urbanization, micro-mobility, health and fitness, and global sustainability, but it is PedalCell’s work as a whole that is especially intriguing.

“Sustainability and health are core concepts of our business – they’re inherently a part of what we do,” Hokin said. “Decongestion, healthier people, reducing carbon emissions, promoting people to bike more often, and how we position ourselves in the market are all ways that our business behavior is closely tied with bettering society.”

Hokin believes that companies can make a positive impact without carrying the title of a nonprofit organization. “If people buy and use our products, we make a change,” he said.

The idea for PedalCell came about while Hokin was still in high school, but Michigan Ross gave him the support and knowledge he needed to grow. Hokin described an integrated B-school experience that allowed him to apply what he learned in class as he worked on the launch of CadenceX.

“Michigan Ross really prepares you and offers such a broad scope of resources,” Hokin said. “I couldn’t have asked for a better environment to learn what it takes to build a business.” He specifically cited his experience with Business+Impact, Zell-Lurie Institute for Entrepreneurial Studies, his independent studies course, and the action-based curriculum that helped him succeed.  

“When launching CadenceX, I didn’t evaluate the volatility of certain areas of the market in the beginning, and so many professors helped guide me to prime my go-to-market strategy in a way that was ultimately sustainable, attainable, and financially feasible,” Hokin said.

Hokin leaves students with piece of advice, “Talk to your professors – the professors at Ross love helping and talking to their students,” he said. “You can tell it reinvigorates them and it makes for such a cool relationship.”

“Utilize your resources there, you have access to such amazing avenues to do research, to validate your industry,” he continued. “Don’t let this advantage fall away, you have something so valuable before you even start your business.”

 

MORE ABOUT CADENCEX

MORE ABOUT THE ROSS BBA

Top Recruiters at Michigan Ross Among WSJ’s Best Managed Companies

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Top Recruiters at Michigan Ross Among WSJ’s Best Managed Companies

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There’s no doubt that graduates from the Ross School of Business go on to work for many of the top companies and organizations around the world. Recently, many of the largest recruiters to Michigan Ross were featured in the Management Top 250 ranking published by the Wall Street Journal.  

The ranking, developed by the Drucker Institute, measures corporate effectiveness of the top U.S. publicly traded companies by examining performance in five areas: customer satisfaction, employee engagement and development, innovation, social responsibility, and financial strength. 

Top recruiters of Ross BBA and MBA graduates ranked highly on the list, including Amazon and Microsoft, who placed first and second, respectively. Alphabet took the #4 spot, followed by Walmart at 14, and JPMorgan Chase at 26, among others. 

Beyond landing great positions at top-performing companies, this has been an exciting year for career outcomes of Michigan Ross graduates. The Ross BBA Class of 2019 had an all-time high median salary of $88,500 ($78,500 median base salary + $10,000 median signing bonus). The Full-Time MBA Class of 2019 had a record-setting job placement rate, with 96 percent of students accepting job offers within three months of graduation.

 See the full Top 250 Management ranking

MetroMBA Highlights Five Online MBA Students, Emphasizes New Program Is Extremely Personable, Flexible

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MetroMBA Highlights Five Online MBA Students, Emphasizes New Program Is Extremely Personable, Flexible

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As their first semester comes to a close, five students in the new Online MBA Program at the Ross School of Business were recently featured by MetroMBA as part of the publication’s “Real Humans” series, which seeks to provide insight into the real people who are enrolled in MBA programs around the U.S. 

Beyond featuring the students, MetroMBA also describes the Ross online program as “one of the most personable options among the world’s elite business schools,” mentioning that students have the option to attend electives on campus in Ann Arbor. In addition, MetroMBA calls out the flexibility of the program, including how students can finish the MBA in between two- to three-and-a-half years.

Among the 72 accomplished and diverse business professionals that Michigan Ross welcomed into its first-ever cohort of online MBAs this fall, the five students highlighted by MetroMBA are: 

  • Evie Tzelios, who works in data partnerships at The Trade Desk and lives in Edgemont, New York

  • Nathan Piechocki, who works for the U.S. Department of Defense in analysis and product management and lives in Baltimore, Maryland

  • Monique Malone, who works in the consumer packaged goods industry at Unilever and lives in Flower Mound, Texas

  • Sritheja Gulukota, who works at a health startup that provides preventive care to high-risk Medicaid recipients and lives in Westborough, Massachusetts

  • Andrew Green, who works as a data scientist at a technology startup and lives in Seattle, Washington 

MetroMBA asked each student about their background, why they decided to pursue the Ross Online MBA Program, and their experience in the program so far, along with advice to prospective students. 

When asked why he decided to enroll in the new program, Piechocki said, “Michigan Ross is consistently rated among the top business schools in the country, and its alumni network is far-reaching and impactful. A lifelong goal to earn a Michigan degree was also at odds with living in the DC-Baltimore metro, and the Online MBA Program provided me a rare chance to have my cake and eat it, too.” 

While she loves her current job working on Unilever’s Target Business, Malone has clear goals for what she wants to achieve after graduating from Ross. “My short-term goal from a Ross MBA is rooted in developing a more robust skill set for problem solving, data analytics, and leading cross-functional teams to drive sustainability in my current job. Long term, I aspire to lead a purpose-driven company to positively impact people’s lives and our planet.” 

Based on the first few courses in the online MBA, Gulukota exclaimed she was surprised by the level of interaction in the live, synchronous sessions despite them being taught virtually. “The professors conduct lectures from what seems like a TNT halftime studio with an open space and all of our webcam feeds on the TV behind them. This, combined with the breakout sessions, is really helpful to bring collaboration and active participation despite not being there in person.” 

READ THE FULL ARTICLE

This is the second time MetroMBA has highlighted Michigan Ross students in the Real Humans series. In May, a handful of exceptional students from the Weekend MBA were featured.

This Just In: Michigan Ross Jumps into the Top Two in P&Q’s 2020 Best Schools for Business Majors Ranking

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This Just In: Michigan Ross Jumps into the Top Two in P&Q’s 2020 Best Schools for Business Majors Ranking

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In what Poets&Quants dubs an “impressive” climb, the Ross School of Business has earned the No. 2 spot in the publication’s ranking of Best Undergraduate Business Schools this year. This result marks the best finish for Michigan Ross to date, rising from No. 4 last year, and No. 13 two years ago.

To compile the ranking, P&Q equally weighs data on admission standards, academic and co-curricular experience as measured by alumni, and employment outcomes gathered from extensive school and alumni surveys. 

The 2020 results show Michigan Ross continues to make large gains in the alumni portion of the ranking. The school placed second in alumni satisfaction, just a few points behind the top place finisher, and up from 11th last year and 32nd the year before. 

The article mentions the change in the Ross BBA from a three-year to four-year direct admit program, as well as impressive stats of the newest and most recent graduating classes: “Of those accepted in 2019, the average SAT score was 1500. Graduates from 2019 averaged $75,575 in salary in their first jobs.”

P&Q spoke with Norm Bishara, associate dean of Undergraduate Programs at Michigan Ross, for his thoughts on the BBA program’s climb in the rankings. Bishara said in the article that Ross has done a lot of work to make the program more cohesive, which he believes carries over to the student and alumni experience.

Bolstering the student experience, Bishara said cross-campus entrepreneurial endeavors are popular for business majors at Michigan Ross. “Students are taking classes all over the university,” he explained. “We have students getting dual degrees. We have students who are learning things from other schools and bringing them back here — their projects and startups.”

Additionally, Bishara said that students are taking advantage of the opportunity to study abroad in the winter term of their junior year as part of the Ross Semester Exchange Program. Nearly half of BBA juniors are slated to participate in the program in 2020, up from 147 students in 2017.

Along with publishing its rankings, P&Q posted the results of the alumni report card survey that it used for the rankings, which revealed that Michigan Ross received nearly all A’s and A+ 's from the Class of 2017. 

Among the questions grads rated Ross highly were: would you recommend the business program to a close friend or colleague; how would you judge the business program’s alumni network and connections that can help you throughout your career; and how would you appraise the effectiveness of the business program’s career advising, where Ross was one of only six schools to receive an A. 

SEE THE FULL RANKINGS HERE


ICYMI: Four of the Most Exciting Developments at Michigan Ross this Fall

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ICYMI: Four of the Most Exciting Developments at Michigan Ross this Fall

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With so much going on this semester, here’s a recap of four really exciting new developments at the Ross School of Business in case you missed them.

First-ever class of online MBA students

Michigan Ross welcomed its first cohort of 72 accomplished and diverse business professionals into the school’s new Online MBA Program, making Ross the first top-ranked U.S. business school to offer such a program. The students were immediately immersed into the rigorous Ross business curriculum, taking classes taught by senior faculty members in accounting and statistics via live, interactive sessions in the new Digital Education Studio

Outside of class, many online students enjoyed getting to know each other and the Michigan Ross community by joining clubs and virtually participating in events. Next semester, the students will have the opportunity to experience Ross in person when they visit campus for their first residency in January. They will participate with other graduate students in the Leadership Crisis Challenge

Launch of the Michigan Ross FinTech Initiative 

In September, Michigan Ross announced a new program in partnership with Chicago-based PEAK6 Investments to prepare students for successful careers in the rapidly growing fintech sector, aiming to produce a robust pipeline of top talent well-versed in technology and finance. The Michigan Ross FinTech Initiative includes educational offerings; fintech-related clubs, events and activities; and action-based learning experiences that connect students with the most innovative fintech companies in the world. 

As part of the initiative this semester, Michigan Ross held the 2019 FinTech Challenge, where nearly 50 student teams participated in a month-long competition to develop an impactful and commercially viable fintech solution to increase financial inclusion in rural Michigan. In addition, Ross hosted University of Michigan Professor Adrienne Harris for a talk with students in which she shared practical career advice and fintech industry analysis based on her experience working at a successful fintech startup, as a special advisor to the Obama administration, and a lawyer in NYC financial services.

Grand opening of the +Impact Studio

With the goal of translating faculty insights into tangible business solutions to the world’s challenges, the new +Impact Studio officially opened at the Ross School of Business. The +Impact Studio, which is part of the Business+Impact initiative at Ross, encompasses an interdisciplinary action-based learning course; a collaboration space; and a campus hub for programming and events.

In the +Impact Studio course this semester, MBAs and other U-M graduate students were divided into two different groups: one focused on using the latest fintech research to improve financial inclusion, and the other on scaling a technology on how to identify lead in Flint water pipes so that it can have a greater impact in Flint and beyond. Ross also hosted several workshops in a new Faculty Research for Impact series focused on taking the UN Sustainable Development Goals and using faculty research to develop ideas that directly impact those goals, such as reducing inequality.

Rollout of the Pinkert Scholar Program

Sixteen incoming Michigan Ross full-time MBAs were the first students to receive full-ride scholarships through the Pinkert Scholars Program, which is awarded to a select group of Ross MBA students each year who are focused on the business of healthcare and healthcare innovation. As part of the program, scholars are matched with alumni mentors who are leaders in the healthcare field of interest to the scholar. Additionally, the scholars have funding to participate in healthcare-specific learning experiences and career and professional development programs, including career treks to meet with healthcare innovators and executives across the country, conferences, workshops, and other experiences designed to help scholars get ahead in their desired healthcare career. 

Beyond those opportunities for the scholars, the gift from the Pinkerts that established the program will create a $500,000 venture capital seed fund for healthcare startups to be launched in 2020, allowing students the opportunity to compete for financing to launch their ventures.

Business Forecast 2020: Michigan Ross Faculty Analyze the Year Ahead in Healthcare, Fintech, Social Media, and More

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Business Forecast 2020: Michigan Ross Faculty Analyze the Year Ahead in Healthcare, Fintech, Social Media, and More

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We asked Michigan Ross faculty experts for their thoughts on critical business topics heading into 2020. Here are some of their insights:

 

Andy Hoffman

Andy Hoffman on Sustainability: Action on Climate Change; Big Changes in Transportation and Agriculture

“The insurance sector is driving tremendous shifts in the market. 2017 was the second costliest year on record, with $330 billion in storm losses. In the end, insurers act as neutral brokers in communicating the reality and the dangers of climate change. They are looking at the numbers and have no political interest in this debate, framing the issue in terms business people can understand.”

Read more

 

Sarah Miller

Sarah Miller on Healthcare: More Medicaid Expansion, But No ‘Medicare for All’

“I think it's possible that a lot of progress towards improved coverage could be made within the framework that we already have. For example, many low-income people remain uninsured because their state has not adopted the Medicaid expansions under the Affordable Care Act. If all states adopted these eligibility expansions as originally intended by the law, we'd see a lot of progress towards full health insurance coverage.”

Read more

 

Marcus Collins

Marcus Collins on Social Media: More Election Influence; Greater Pressure on Facebook

“Social media is people media, and we, the people, rely on other people to understand the world and where we fit into the world. We collectively negotiate and construct beliefs and norms among our people to inform what we do and where we go. It’s been this way since the beginning of time so, of course, we should expect much of the same election influence as we have seen in the past. It may become even more hyperbolic, due to how identity-driven our political landscape has become.”

Read more

 

Jun Li

Jun Li on Retailing: More Integration of Online and Physical Stores; Online Groceries Starting to Take Off

“Retailers will continue to find new ways to leverage, integrate, and expand their channel strategies. This could mean more brick-and-mortar retailers offering online services, or more online retailers offering pickup and return services through physical locations. The desire to achieve better channel integration will likely spur new rounds of mergers and acquisitions or strategic partnerships, such as the merger of Amazon and Whole Foods or the partnership between Amazon and Kohl's.”

Read more

 

Robert Dittmar

Robert Dittmar on Fintech: Innovations in B2B payments; struggles for cryptocurrencies

“There have been massive innovations in consumer-to-business and consumer-to-consumer payments, but business-to-business payments remain relatively idiosyncratic and analog. I’m interested to see to what degree fintech innovators can streamline business’ ability to pay other businesses and improve efficiency.”

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Joel Slemrod

Joel Slemrod on Taxes: Income Inequality May Get Attention, While the Budget Deficit Needs More

“Ordinarily, the rapid growth and high levels of federal government debt would be getting considerable attention in the policy discussion. This has not happened in part because the supposed negative consequences — such as rising interest rates and crowded-out private investment — are not visible. But debt-financed spending is not costless, and these costs will eventually appear.”

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Media Contacts:Bridget Vis, Public Relations Specialist, visb@umich.edu; or michiganrosspr@umich.edu

These Rankings Highlight Why Ann Arbor Is a Great Place to Go to Business School

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These Rankings Highlight Why Ann Arbor Is a Great Place to Go to Business School

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Students and alumni of the Ross School of Business have a new reason to rave about life in Ann Arbor. Ann Arbor recently landed on top of the lists for America’s best college towns, most educated cities, and top tech hubs.  

In WalletHub’s 2020’s College & University Rankings, Ann Arbor was ranked the best small city to attend college or university, and No. 5 overall out of the 400 U.S. cities in the report. To compile the rankings, WalletHub used data on 31 indicators of academic, social, and economic opportunities for students.

Ann Arbor also earned the No. 1 spot on WalletHub’s list of the Most Educated Cities in America, which compared the 150 largest metropolitan areas on the level of educational attainment and quality of education and attainment gap. A-squared received an impressive 94.5 total score, nearly 12 points ahead of second place San Jose-Sunnyvale-Santa Clara, California.

Broken down by degrees, WalletHub’s data showed Ann Arbor had the highest percentage of associate’s, bachelor’s, and graduate/professional degree holders of all the cities included in the ranking. 

Additionally, Ann Arbor was No. 3 on the list of top U.S. tech hubs of 2019 as ranked by the Bloomberg Brain Concentration Index, which measures the share of residents employed in STEM occupations, and those who hold advanced degrees or science/engineering undergraduate degrees. 

Of course it never hurts to hear from students about why this southeastern Michigan town is a great place to attend business school. Hear Michigan Ross full-time MBAs’ thoughts on what it’s like living, working, and playing in Ann Arbor in a recent Business Beyond Usual podcast

Michigan Ross Alum Is Designing Rules for Emerging Technology Policy at the World Economic Forum

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Michigan Ross Alum Is Designing Rules for Emerging Technology Policy at the World Economic Forum

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There’s no one more central to the discussion on how technological advancements — and concerns about control of information — are affecting our world than Sarita Nayyar, MBA ’87. 

Nayyar is a member of the managing board, managing director, and chief operating officer, USA, of the World Economic Forum, which is an international organization for public-private cooperation. She led the international expansion of WEF’s Centre for the Fourth Industrial Revolution, a collaboration hub that brings together regulators, legislators, and executives to develop policy frameworks that can help address the worldwide challenges related to emerging technologies. 

“We want to make sure that government mechanisms for the regulation of these technologies will maximize benefits and minimize risks, while actually helping all individuals,” she said. 

One of the mechanisms Nayyar and her colleagues helped design is Rwanda’s pioneering framework of performance-based regulations for drones, allowing drones to deliver goods and services nationwide. The regulations are the first of their kind in the world and have created a system that enables companies to deliver medical supplies, the government to monitor endangered animals, and farmers to make agriculture yields more efficient. 

“After being implemented, principles of that policy have been shared across Africa and Asia,” Nayyar said. “There is now a Drone Innovators Network created by the center connecting drone manufacturers with government officials and civil aviation authorities to help them work together to create these kinds of policies where they are needed.” 

The center has also recently released a drone operations toolkit that will help accelerate and scale its learnings internationally. But drones are just one of six areas of focus for Nayyar and the center. They’re also developing collaborative protocols and policy frameworks for artificial intelligence and machine learning, the internet of things, blockchain, autonomous vehicles, and data policy. 

That last one, data policy, proves the most complex.

“As a society, we are generating huge amounts of data that have enormous value,” Nayyar said. “If all the data can be made available so that everyone could safely access it while protecting individual privacy, we could probably see much greater and much faster progress.”

“But countries are looking at data like a national currency now and want to control it and monetize it. It makes these negotiations and discussions about regulation incredibly important, and very challenging.” 

Dean DeRue Predicts What’s Ahead for Business, Society, Technology in 2020; Sets Ambitious Goals for the New Year

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Dean DeRue Predicts What’s Ahead for Business, Society, Technology in 2020; Sets Ambitious Goals for the New Year

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As the new decade begins, Scott DeRue, Edward J. Frey Dean of the Ross School of Business, shared his predictions and resolutions for 2020 with Poets&Quants, including how he believes accountability in business will be increasingly important, given the huge public policy challenges leaders will face. 

In P&Q’s article“B-Schools Predict What 2020 Has In Store,” DeRue said:

“In 2020, I anticipate that society will continue to be challenged in many profound ways. In business, CEOs will be expected to be more engaged than ever in policy-related issues and social causes. Employees, customers, and investors will increasingly demand that companies explain how they are diversifying leadership, addressing climate change and sustainability, and improving equitable access to jobs and economic opportunity. It will be a challenging time for leaders across all sectors, wherein missteps will be very public, and purposeful leadership celebrated.” 

In addition, DeRue predicted technology will also have a growing impact on businesses and business education as it becomes more deeply embedded into people’s lives.

“We will encounter further benefits of artificial intelligence, yet also be confronted by moral challenges that arise in its application,” he told P&Q. “Businesses with a clear vision, positive leadership, and sound execution will thrive. Business schools will continue to launch new courses that explore the intersection of business and technology.” 

At Ross, DeRue said the new Michigan Ross FinTech Initiative is one example of how the school is expandings its curricular and co-curricular offerings to teach students the skills they need to lead in emerging technology industries. 

Along with including thoughts from DeRue, P&Q included insight from Andy Hoffman, professor of management and organizations at Michigan Ross, into what 2020 may hold in the sustainability field from a blog posted on the Ross website. 

READ THE FULL ARTICLE

A Year of Big Goals

Poets&Quants also featured DeRue’s resolutions for the new year in an article alongside other top B-school deans. DeRue said he has big goals for himself and Michigan Ross in 2020: continuing to transform business education; building a remarkable community; and renewing a commitment to act with purpose.

“At Michigan Ross, we have long aspired to set a new standard for business education,” said DeRue. “We pioneered a distinctive approach to higher business education through action-based learning. Our Ross Experiences in Action-based Learning (REAL) initiative is vibrant and growing. It affords our students real-world experience, connections with leading companies and organizations, and a more effective way to learn. In 2020, my goal is to build on our progress, as we support initiatives that are defining our next chapter.”

DeRue mentioned the +Impact Studio, which officially opened this fall at Ross, as one of those new developments. The studio is meant to be a platform for translating faculty insights into tangible business solutions to the world’s challenges. 

Personally, DeRue said he’s seeking to find moments of purpose this year: 

“In 2020, I resolve to seek out a moment of purpose each day that reminds me why we do what we do, and use that to fuel my actions. It might be a new research study that changes how we think about a topic; a student who has an ‘ah-ha’ moment; or, an alum who conveys what attending our school meant to their life. These moments become booster shots of purpose by reminding us why we do what we do, and inspiring us to aim higher and embrace the opportunity for impact.”

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