maine business school mbsconnects
TRANSCRIPT
Orono, Maine ⢠Winter 2010 ⢠Volume 3, Issue 2
Rachel Hathaway â11 Interns at Grameen Bank in Bangladesh and India
Maine Business School student Rachel Hathaway â11 is determined to make adifference in the world.
After reading about Grameen Bank, an organization started in Bangladesh in 1983to bring financial services to poor, rural women in undeveloped countries, shedecided that replicating the model could be an integral component in the fightagainst social inequity and poverty. After spending last summer in Bangladesh andIndia as an intern with Grameen Bank, she came away convinced that it would beher lifeâs work.
âThe story of Grameen Bank is powerful and inspirational,â said Hathaway, asingle mother earning a dual degree in financial economics and businessadministration.
Located in Bangladesh with replication projects in more than 100 countries aroundthe world, Grameen Bank is based on the idea of microfinance or extending loanopportunities to poor people â mainly women â so they can become self-sufficient.Owned by the poor borrowers of the bank, Grameen doesnât require collateral andbelieves that credit is a basic human right, that all people are endowed with limitlesspotential, and that the poorest of the poor â those without land or assets â shouldreceive the highest priority in obtaining loans.
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From the Dean
Winter has settled in here in Orono.All of us here at MBS hope you
and those you love had a wonderful,warm holiday season.
There is much for us to be grateful forin the new year and this issue is burstingwith stories of how students and facultyare shaping the communities where theylive and work around the world.
Youâll read about Rachel Hathawayâsremarkable internship in Bangladeshand about MBS students who have beeninvolved in a project with the town ofOrono. Youâll learn about PaujoBornstein â06 who is working inCambodia, Rebecca Hawkins â09 whohas worked and studied in Spain,England and Turkey, and Anh Do â08who is working in London. And youâllfind out about MBA students whoreported to the Maine Tourism AdvisoryCommittee about their study of eco-tourism in Brazil last May. All of thesestudents give evidence to our theme atMBSâ âexpect the worldâ and they arerepresentative of many many others.
Also in this issue, youâll read aboutthree of our facultyâNatalie Steiger,Terry Porter, and Scott Anchors â andwhat they are doing in and out of theclassroom to engage students. This isonly a very, very small view of theirdevotion to students and to the learningprocess that is shared by all of our col-leagues here.
This issue is packed with good news.SPIFFY was honored by the Universityof Maine Foundation at the Foundationâsannual meeting last fall. MBS was select-ed for the second year in a row by aninternational committee in Paris asamong the best in the world (to be pre-ciseâin the top 3% of business schoolsworldwide). And, thanks to the efforts of
continued on page 2
Maine Business School www.umaine.edu/business
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Rachael Hathaway (right)
MBSConnects
2 Maine Business School
MBS Achieves 100%Membership Acceptancein International HonorSociety
The Maine Business School has a lotgoing for it. The oldest internation-ally accredited business school in
Maine, the MBS was ranked in the top 200business schools in the nation for twoyears in a row and is among 1,000 schoolsworldwide to be commended byEduniversalâs International ScientificCommittee.
The MBS has distinguished itself in yetanother way.
Over the last decade, it has achieved100% membership acceptance rate in BetaGamma Sigma, the international honorsociety recognizing excellence in businessprograms accredited by AACSBInternational â The Association toAdvance Collegiate Schools of Business.That is, each of the Maine Business
MBSNews
School of Economics and Maine BusinessSchool Receive $1.8 Million Grant
The University of Maine will partner with businesses and communities innorthern and central Maine as part of a new, three-year economic developmentprogram funded by a $1.8 million federal grant awarded last fall to the School
of Economics and the Maine Business School.Through the âKnowledge Transfer Alliance,â UMaine faculty, staff and graduate
students will provide various types of assistance to businesses and communitiesincluding help with marketing, accounting, finances, tourist-related businessdevelopment, and cultural development.
âOur plan is to integrate our efforts with local economic development agenciesand chambers of commerce,â said Professor George Criner, director of the School ofEconomics and a principal investigator for the grant. âSome agencies have businessvisitation programs and we want to coordinate with them. Now is not the time toduplicate efforts. We can coordinate with local agencies and chambers to see whichmay want some assistance to survive or expand. We can then assess their needs anddesign a team to help them.â Half a dozen businesses already have requestedassistance, he said.
Joining Director Criner as principle investigators are Dean John Mahon of theCollege of Business, Public Policy and Health and director of the Maine BusinessSchool, and Hugh Stevens, former graduate student and director of the School ofEconomicsâ Office of Special Projects. Dean Mahon will help coordinate businessfaculty project participation, as well as bring his wealth of strategy and planningknowledge to bear as faculty teams advise businesses.
The Advanced Manufacturing Center will assist businesses to investigateengineering needs and develop and design solutions. Cooperative Extension will helpwith micro-enterprises and community economic development, among other areas.
âThe University of Maine wants to help grow jobs, expand businesses, and turnaround the economic climate,â Professor Criner said. â˛
Schoolâs juniors, seniors, and graduatestudents who have been invited to jointhe elite group has accepted. Currently, 32students belong to the UMaine chapter;on average, 27 students are inducted eachyear.
âMembership in Beta Gamma Sigma isthe highest recognition a business studentanywhere in the world can receive,â saidProfessor of Management Natalie Steiger,advisor for UMaineâs chapter.
âItâs a feather in our cap to haveachieved 100 percent membership.â
âYour acceptance rate ⌠indicates achapter where academic excellence is val-ued and where the faculty officers of thechapter work diligently to enhance BetaGamma Sigmaâs stature on campus,âVicki Klutts, executive director of theMissouri-based organization, wrote toJohn Mahon, dean of the College ofBusiness, Public Policy, and Health anddirector of the Maine Business School.
Nearly 1,000 students have belonged tothe UMaine chapter since it was organ-ized in 1975.
To qualify for membership in BetaGamma Sigma, seniors have to be in thetop 10 percent of their class, juniors in thetop 7 percent, and MBA students in thetop 20 percent. Each year the UMainechapter holds a meeting that includes aninduction ceremony and a presentationfrom a professor, community businessleader, or successful alumnus. Also at theannual gathering, a $1,000 scholarship isawarded to a student based on his hergrade point average and faculty recom-mendations.
Stefan Lange, a senior accountingmajor who received the 2009 Beta GammaSigma scholarship, said membership inthe group âwill really enhance myresume.
âEmployers will recognize member-ship in Beta Gamma Sigma as somethingspecial.â
Professor Steiger said she enjoys guid-ing the group and getting to know theseoutstanding students. âItâs very uplifting.Iâm blown away by what so many of themhave accomplished.â â˛
Dean from page 1Dr. George Criner and Hugh Stevens,MBS received a $1.8 million grant foreconomic development in Maine.Aiming to help individuals buildtheir skills and talents so they cancontribute to improving the econo-my, the school is offering 25% tuitionscholarships to our MBA program tograduates from any college or univer-sity in Maine in 08, 09, and 10.
Thereâs a story noting that lastsemester we were graced with thepresence of Hollywood film producerLawrence Bender â79 who gave all ofus a message that we need to hearover and over again. And thereâsinformation about one of our own,Jon Sorenson '86, a member of theMBS advisory board, who washonored with the Marcus UrannAward for his leadership andsupport of both the MBS and theUniversity to aid economicdevelopment in Maine.
Also in this issue is a story aboutour continuing need for internships.
Please stay in touch! We need tohear from you to learn of your suc-cesses and to be informed of yourviews of YOUR business school. â˛
University of Maine 3
visit us on-line at www.umaine.edu/mbsnews
SPIFFYâs annual visit to New YorkCity typically ends up a fun andenriching experience and the most
recent trip last November was noexception.
âWe had a terrific time,â said DerekHardy â10, one of four SPIFFY studentleaders who travelled to New York alongwith Matt Ciampa â10, Matt Bouchard â09,Jack Keenan â10, and Finance ProfessorBob Strong, the groupâs faculty advisor.
SPIFFY (Student Portfolio InvestmentFund) is a club of approximately 25undergraduates who manage about $1.4million of the University of MaineFoundationâs assets. Students apply theirclassroom knowledge to obtain realinvestment experience and makeimportant investment decisions. Theymeet weekly to discuss changes to theportfolio using majority vote based onpresentations and research.
As in previous trips to The Big Apple,students toured the floor of the New YorkStock Exchange and met with otherUniversity of Maine Foundation moneymanagers. Their itinerary included aworking lunch at the investment bankingfirm of Sandler OâNeill, a long-timesupporter of the SPIFFY trip, and visits toLazard Asset Management, aninternational equity manager with alongstanding relationship with theFoundation, and Ivory Asset Management,a new manager which runs a long-shorthedge fund. The travelers also ate dinnerat Planet Hollywood and saw âWest SideStoryâ on Broadway.
âWe had a blast,â said Professor
Strong. âThe students really loved theStock Exchange with all its hustle andbustle. Itâs always fun to watch them takein all thatâs going on.â
The young men pronounced their jam-packed two-day excursion exciting andinformative and said they enjoyed talkingshop with professional money managers.They agreed that it was rewarding to beable to understand the complicated, in-depth conversations about economics.
âIt shows that the Maine BusinessSchool is preparing us well,â said Keenan.
Visiting three different companies alsoproved enlightening, the students said.
âSeeing the vast difference inatmosphere and culture of those threeplaces was really fascinating,â saidCiampa. âYou could tell that life at oneplace would be different than at another.At Lazard they were all wearing suits andties but at Ivory Capital they were dressedmore casually. Sandler employees got acatered lunch every day at their desksbecause they had to be there to answertheir phones.â
Regardless of the company at whichthey worked, the money managers allâseemed to have incredible work dayswith long hours,â said Hardy. âButnobody seemed to mind. They all seemedto like their jobs.â
For him, the highlight of the trip wasvisiting the NYSE. âSeeing that what westudy at the Maine Business School andwhat we do at SPIFFY actually happenswas really eye opening,â he said.
Bouchard was particularly excitedabout the networking opportunities.
âMeeting the professional moneymanagers was like getting your foot in thedoor of their companies,â he said. âTheywere all very nice and friendly. They gaveus their business cards and one womanfrom Lazard told us to send her ourresumes. You could tell they wanted tohelp us out and get us started on the righttrack.â
Talking to the asset managers abouthow they did their jobs turned out to be abig plus for Keenan. âWe got to sit downand have in-depth conversations about thedifferent techniques they used to managemoney,â he said. âI used one of thetechniques for a currency analysis projectfor one of my classes. I like that I was ableto pick up different ideas and tips andmake it a real learning experience.â â˛
SPIFFY Trip to New York City is Exciting and Informative
MBSConnects is published by the College of Business, Public Policy and Health John Mahon, Dean
Edited by Ruth-Ellen Cohen ⢠[email protected] ⢠581-1926
Students, faculty and alumni are encouraged to submit information. Sign up for the online version of this newsletter at www.umaine.edu/mbsnews
Layout and design by Val Williams, University Relations ⢠Printed by University of Maine Printing Services.
In complying with the letter and spirit ofapplicable laws and in pursuing its own goals ofdiversity, the University of Maine System shallnot discriminate on the grounds of race, color,religion, sex, sexual orientation, national originor citizenship status, age, disability, or veteransstatus in employment, education, and all otherareas of the University. The University providesreasonable accommodations to qualifiedindividuals with disabilities upon request.
4 Maine Business School
MBSStudents
Class Spotlight:
Students BecomeTeachers in ScottAnchorsâ âLeadershipfor Tomorrowâ Class
T raining tomorrowâs leaders is amajor goal of the Maine BusinessSchool. Professor Scott Anchors is
contributing towards this through hisupper level class entitled Leadership forTomorrow â a fast paced class whereleadership becomes personal and studentsare expected to examine themselves, learntheory, and demonstrate leadership inaction.âA significant aspect of leadership
involves engaging others, workingeffectively with a team, and developingcompetence,â said Professor Anchors, whotaught the class with MBA student MeganGrant. âStudents learning aboutleadership need to study theory and applythis knowledge in a leadership setting.âIn their MBS Leadership Class, Professor
Anchors and Grant carefully integratedtheory and practice through actualleadership.The central project for the class involved
an assignment that required all of theabove aspects of leadership. Students wereplaced in small teams and expected todevelop expertise about a particularleadership skill such as decision making,conflict resolution, effectivecommunication, team building, and timemanagement. At the end of the semester,they had to conduct a 45-minuteworkshop teaching that topic to studentsin âIntroduction to Management,â alower-level course that Professor Anchorsalso teaches.âStudentsâ grades were based on how
well they engaged the workshopparticipants, demonstrated competency inthe subject matter, and workedcollaboratively with their team,â saidProfessor Anchors. âAn A grade was onlyawarded if all of these criteria were met ata high level.âOne leadership group chose to teach a
workshop on situational leadership styles,which is based on the premise that leaderssometimes must be motivated by âtaskaccomplishmentâ and other times by
âconcerns with relationships and people,âsaid Professor Anchors.âDifferent situations require different
approaches.âThe leadership team engaged their
workshop attendees in an imaginary fireand had them respond in different waysdepending upon the style they wereassigned. âAttendees were fully engagedand experienced the different results ofdiverse leadership styles,â ProfessorAnchors said. âThe workshop teamwrapped up their leadership experienceby helping attendees understand thesedifferent styles and the situations they bestfit.âPart of being a good leader involves
working with a team, becoming an experton a topic, and knowing how to getpeople involved and passionate,â hecontinued. âBoth the leadership studentsand their attendees gave the workshopsession a great review â the leadershipstudents loved the challenge and thelower level students enjoyed theinteractive learning.âThe leadership students said the
workshop presentation helped them learnabout themselves as well as how to be aleader.Jasie Costigan â09 said the course was
âmore valuable to me than any other Ihave ever taken. It brought real lifechallenges to the table, made me thinkcritically, challenged me as an individual,and helped me further develop skills thatare crucial for the professional sector. Ourgoal was to teach students that we all needto be organized to be fully functional andeffective both in our school and in ourcareers. Conducting the workshop was agreat skill-building experience. Itâs onething to present your research to yourcolleagues and classmates, but to informand educate a group of individuals youdonât know is entirely different. Theexperience challenged me in a way thattextbooks and lectures canât do. It mademe work outside my comfort zone and itbuilt confidence.âMegan Grant, who helped Professor
Anchors create this experience, said itgave students a great perspective into howto motivate people and excellentexperience making a presentation underpressure. âIt was such a rewardingopportunity to see students evolve overthe semester âthey got to knowthemselves and each other at the sametime. They all left the course feeling more
confident and knowing that they haddeveloped significant leadership skills thatthey could take with them wherever theygo.âProfessor Anchors said, âOur assumption
in teaching this class was that the best wayto learn something is to teach it. Ourengagement of the leadership studentsresulted in increased confidence as a resultof mastering a topic, engaging a group,and working with a team â all importantthings that leaders do. This is an excitingprocess and I am so fortunate to beinvolved in helping these students shapetheir future as leaders.â â˛
Professor Scott Anchors ends hisIntroduction to Managementclass each semester by asking
recent Maine Business Schoolgraduates to speak to students aboutwhat they have learned in their firstprofessional job out of the Universityof Maine. Last December, eightmonths after they graduated, JenniferParent â09 and Mark Castonguay â09shared their reflections. Parent, whoworks at Eastern Maine Health CareSystems in Human Resources, saidMBS classes were like the real worldbecause students are required to beaccountable and to deal with thechallenges of working in teams. Sheencouraged students to consider thisas they take courses. Castonguay, adeli manager trainee at HannafordâsSupermarket, said students shouldnetwork and build their resumeswhile at UMaine. He saidrelationships with faculty andexperiences both in and out of theclassroom can pave the path toemployment and lead to moreenjoyment of college. âStudentsviewed these particular presentationsas very helpful,â Professor Anchorssaid. â˛
University of Maine 5
M aine Business School studentsfound that what they learn inthe classroom can have real-life
relevance when they helped the Town ofOrono research new policies ontransportation and energy use as part of aservice learning project in Professor TerryPorterâs Business and Society class lastsemester.
The goals of the project were toexamine the application of sustainabilityconcepts by helping to determine if theBlack Bear/Orono Shuttle Bus routebetween the town and the University ofMaine was efficient and was meeting itsgoals, and also to help establish a plan forOrono to reduce its carbon use.
To accomplish these goals, studentschose to either survey bus passengers orexamine the townâs heating oil andelectricity invoices. Students involved inthe bus survey asked riders questionsincluding where they boarded, where theywere going, and why they were taking thebus. Students inspecting the invoicesrecorded data on spreadsheets includinghow much heating oil and electricity hadbeen purchased over the past five yearsand how much the town was spending toheat each municipal building.
Presenting their findings and offeringrecommendations to town officials andbusiness leaders during class, studentssaid the service learning project enabledthem to develop their interview, research,organizational, and teamwork skills. Theysaid they enjoyed getting out of theclassroom and into a real-life situation, aswell as the opportunity to interact withtown residents and officials and generatetheir own understanding of classroomssubjects and ideas. They suggested,among other things, that the shuttle busadvertise more to students and that it offeradditional stops on campus and extendedhours on weekends.
They agreed that the service learningproject was a wonderful learningexperience.
âItâs good to see that what weârelearning in class is relevant,â said AllyHowatt â10.
The class was âdefinitely moreinteresting than writing a paper or a casestudy,â said Justin Labonte â10. âItâs alsopretty practical â youâre doing research forsomething that really matters to people.â
Mike Lemont â10 wished more classescould be interactive. âItâs nice to be able tolearn from experience rather than from abook or lecture,â he said.
âI think service learning projects aregreat and that more professors shouldutilize them,â said Carl Skillings â10.âThey are a win-win situation foreveryone involved because students getfirsthand experience while providinguseful information.â
For their part, town officials said theynow have crucial data that they wouldnâthave been able to garner without studentsâhelp. They will be able to make moreinformed decisions about whether thetown-university bus service route needsrefining. And, now that they have baselinedata on how much energy is being used inmunicipal buildings, they will be able tomeasure the effect of any buildingimprovements.
Officials also said that they enjoyedworking with the university and that theyhoped to be involved in similar projectsdown the road.
âIâd like to do this every semester,âsaid Town Planner Evan Richert. âItâsgreat to have students and professors whoare willing to provide a service as part of
their learning.â He said that although thiswasnât the first time that UMaine studentsand the town had worked together on aproject, it was the most organized effortand could be a model for futurecollaborations.
Thanks to the studentsâ data, Oronomerchants now know that most of theshuttle bus riders are UMaine studentsand employees traveling from their homesto campus, said Michele Goldman, ownerof Fiberphilia on Mill Street and presidentof the Orono Village Association.
âWe learned that very few people areusing the shuttle to visit downtownbusinesses. This was valuable informationbecause it tells us we need to focus ouradvertising within the shuttle andencourage more businesses that appeal tothe University community.â
Orono Town Manager Cathy Conlowsaid the students offered a newperspective. âThey look at things in a waythat we might not otherwise view things.They have no direct stake in the outcomestherefore they can view the issues moreopenly.â
Professor Porter congratulated studentson a great job. She said she, too, waspleased with the service learning project.
âCombining academic classroomcurriculum with meaningful service is awonderful way for students to increaseknowledge, develop skills, and clarifyvalues because it enables them to makediscoveries firsthand through observationand interactions instead of hearing orreading about others' experiences.â â˛
Class Spotlight:
MBS Students Help Town of Orono Through Service LearningProject in Professor Terry Porterâs Class
visit us on-line at www.umaine.edu/mbsnews
6 Maine Business School
MBSStudents
Hathaway from page 1âThe misconception is that people are
poor because theyâre lazy or not tryingwhen, in fact, in many developingcountries the women are hardworking,intelligent people who just lackopportunity,â Hathaway said. âGrameenbelieves that women have the skills torun a successful entrepreneurialendeavor, whether it involves handcraftsor weaving or operating a grocery store,farm, or rickshaw business.â
By providing women a chance to liftthemselves up, Grameen is changingtheir social status, according toHathaway. âBecause women arediscouraged or forbidden from working,they have been undeservedly labeled as asocietal and familial burden â as anothermouth to feed. But when Grameen comesin and gives a woman the chance to workand to start contributing financially to thefamily sheâs treated as a respected,capable member of society.â
No written contract exists betweenGrameen Bank and its borrowers.Repayments are made through tinyweekly installments.
âThereâs a big sense of responsibilityand honor that goes along with theseloans,â said Hathaway. âThatâs why therates of repayment are typically between98-100 percent. These are strong,wonderful women who donât think oftheir loan as a gift, but as a way to raisethemselves out of poverty and create abetter life for themselves, their families,and their community. Borrowers organizeinto small groups to empower andsupport each other and make sureeveryone conducts their financial affairsresponsibly.â
Based in a hotel down the road fromthe Grameen Bank headquarters inBangladesh, Hathaway spent most of her10-week basic training program andinternship traveling with staff memberswho conducted business at Grameenâcentersâ scattered throughout thecountry. Wearing traditional Bangladeshigarb in the blistering heat, she rode eachday on crowded, rickety buses, jouncing
along rutted roads that often dissolvedinto muddy paths.
âThe bus was like a sardine can onwheels,â she recalled. âThere were nolines on the road and weâd be dodgingrickshaws and weaving in and out of thetraffic that was coming and going in alldirections. People were driving like batsout of hell, and I spent the first few bustrips with my heart in my throat,wondering if Iâd ever make it back to seemy son.â
With her translator by her side,Hathaway would watch as borrowerslined up at the centers, bringing theirpassbooks with them so their transactioncould be carefully recorded.âThereâs a regimented set of rules,regulations and procedures each staffperson must follow,â she said. âI neededto observe what each person did, lookover their books, ask questions, andfigure out what elements I need to knowif Iâm going to replicate this in anothercountry.â
Hathaway said she came away awedby the job performed by the tireless anddedicated Grameen staff persons âin acity rife with inefficiencies, corruption,and poverty, where itâs hard to findmodern conveniences and wherecomputer technology and internet accessare practically nonexistent.â
There were other challenges, too.âAlthough thereâs a great deal of respectbetween borrowers and employees,people here are shy and humble and thatcan lead to a lack of dialogue anddifficulties obtaining, specific, detailedinformation,â she said.
Still, Grameen â which, along with itsfounder, Muhammad Yunus, won the2006 Nobel Peace Prize â is doing anamazing job. The organization workshard to overcome social inequities and toreduce gender oppression, eliminatedowries, and ensure that families enrolltheir children in school, eat three meals aday and have a sanitary toilet, a rainproofhouse, clean drinking water, andmosquito nets.
âEach borrower works diligentlytoward fulfilling these goals,â she said.âIt is a proud day when she can finallyclaim them all, for this symbolizes thatshe has, at last, crossed the poverty lineinto solvency. The progressive, socialagenda is by far the biggest goal forGrameen. The banking element is just ameans to an end â the end of poverty.â â˛
Dan Bouchard â83, â85Gand Shawn McKenna â77Join MBS Advisory Board
Welcome to new members of theMaine Business SchoolAdvisory Board, Dan Bouchard
â83, â85G and Shawn McKenna â77.Bouchard is senior managing director
and chief administrative officer of StateStreet Corporationâs Global Markets divi-sion in Boston, serving as the centralpoint of contact and liaison with criticalstaff functions including HumanResources, Audit, Compliance, Marketing,Legal and Finance.
McKenna is co-founder and CEO ofSDO Ltd., which includes Starlite Diner, achain of 50s style eateries in Moscow,Russia. The corporation also consists of 16corporate cafeterias, two airline cateringcompanies, a food production facility, andone of the largest banquet/catering com-panies in the city. His related businessesemploy more than 2,000 employees repre-senting more than 20 countries.
Bouchard, who earned a bachelor ofscience degree in business administrationin 1983 and a master of business adminis-tration degree in 1985, lives in NorthReading, Mass. He would like to see a 20-30 percent increase in business schoolenrollment and wants to help MBS find aniche. âDean Mahon has some great ideasand he wants to make things happen, buthe canât without the proper resources.One of the boardâs roles should be to helpsecure funding to grow the school. Weshould provide guidance, but we alsoneed to make sure the people making theday-to-day decisions have the properresources to do their job.â
McKenna, who earned a degree inbusiness management in 1977, lives inBowdoinham, Me., and commutes toMoscow every two weeks. âI would liketo help raise money and work with theuniversity to develop a work study/co-opprogram for business students. Thiswould enhance the reputation of our busi-ness school, help Maine businesses, andenable students to make an easy transi-tion from education to employment. Iknow the school is rated as one of the top1,000 programs in the world, but I wouldlike to see it move into the top 500. I alsowant the school to gain a reputation forquality work-study programs and suc-cessful job placement. â â˛
University of Maine 7
The University of Maine helped propel him to fame and fortune,Hollywood film producer Lawrence Bender â79 told students at theMaine Business School convocation last October.
Bender, who earned a degree in civil engineering from UMaine, produced suchbox-office hits as Kill Bill, Good Will Hunting, Pulp Fiction, Reservoir Dogs,Anna and the King, and Inglourious Basterds. During his speech at the D.P.Corbett Business Building he kept students at the edge of their seats, regalingthem with anecdotes about the goings-on in tinsel town.
But his own story turned out to be the most compelling.âIt took me a long time to get to where I am,â said Bender, who lives in Los
Angeles. âI worked really hard. I tried dancing and I tried acting. I spent manyyears poor and broke. But the training and inspiration I got here at UMainebecame the foundation of who I am and ultimately was what made me good atwhat I do now, which is producing movies.
âAs a movie producer I have a foot in two different worlds,â he continued.âOne world is poetic, ethereal, creative, and inspirational. The other worlddemands practical problem solving; I have to put cash together and I have toput people together. At UMaine I received an education in both those worlds.The civil engineering program is very rigorous and I came away feeling asthough I could solve any problem that was thrown at me. But I also found mycreative side here at UMaine. I learned to do pottery, I took art history andmusic, and I joined the school dance department and got involved with theRobinson Ballet Company. Sometimes my engineering professors would evencome and watch me dance. I was involved in two different worlds here atUMaine and I enjoyed it and was inspired!
âWho knew that years later Iâd be making movies with Brad Pitt and BruceWillis!â
This was Benderâs second visit to UMaine in four months. Last June heattended the University of Maine Foundationâs 75th anniversary celebrationwhere he was one of five alumni honored for their career achievements andcontributions to society. There he met Dean John Mahon of the College ofBusiness who asked him to return to campus in October to give the convocationspeech to Maine Business School students.
âDean Mahon is wonderful and persuasive and he made me feel like itwould be a really nice thing to do,â Bender said. âThen I began to do someintrospection and I came away realizing what an enormous impact my timehere at UMaine had on my life.â
His message to students was simple: follow your passion.âIt can be incredibly tough on both you and on your parents,â said Bender, who moved to New York after he graduated from
UMaine to try and make it as a dancer.âThen I got injured and decided to become an actor,â he said. âI moved to Los Angeles and struggled and struggled and ultimately
became destitute for so long that I ended up working on a movie set. From that moment I decided that producing films was what Iwanted to do. I met (film director) Quentin Tarantino and my life took off from there. Following your passion doesnât necessarilymean it will actually become your career, but it will bring you through a series of choices where eventually you will find your place inlife.â
As successful as he is, Bender says he is always trying to do better and be better. He has become a political activist on a couple offronts. He produced Al Goreâs âAn Inconvenient Truth,â and he currently is working on a documentary about the dangers of nuclearproliferation.
Young people today âhave an amazing opportunity to make a difference in the world,â he told students. âThe entire country needsyour help.â
Bender had another message.âNever give up,â he said. âThereâs a little bit of serendipity in life and opportunities will arise. You may not know theyâre
opportunities so itâs important to keep your eyes open. People can open doors all the time, but if you donât walk through youâll neverknow what youâre missing!â â˛
Hollywood Film Producer Lawrence Bender â79 Speaks to Maine Business School Students
SPIFFY was honored last Octoberat the annual meeting of theUniversity of Maine Foundation,
the group that gave the StudentPortfolio Investment Fund its start in1993 when it entrusted them to man-age $200,000 in assets.
Today, SPIFFY has helped growthat initial allocation to $1.4 million.
âWe are very impressed with theseyoung people and we have been sinceday one,â said UMF President andCEO Amos Orcutt. âSPIFFY is a verysuccessful operation. It has benefittedall parties including the university aswell as the students who have beenable to learn about financial manage-ment and even land jobs because oftheir experience with SPIFFY. We atthe University of Maine Foundationare very proud of the students ofSPIFFY and we are pleased with therole that the Foundation has played intheir success.â
Speaking at the UMF annual meet-ing, Finance Professor Bob Strong,SPIFFYâs faculty advisor, told the audi-ence of nearly 200 that 16 years ago hepresented to the UMF board of direc-tors âthe radical idea of entrusting stu-dents with some of the Foundationâsassets.
âThe board thought it was a goodway to extend the Foundationâs reachand liked the educational experiencethat SPIFFY would provide,â ProfessorStrong said.
âIt turned out to be a great experi-ment. Now itâs no longer an experi-ment, but a useful extra-curricularactivity. We typically manage about1% of the Foundationâs assets.SPIFFYâs fund under management isnow at an all-time high â a great thingin this day and age.â
SPIFFY funds are handled solely bystudents who apply their classroomknowledge to obtain real investmentexperience and make important finan-cial management decisions. Membersmeet weekly to discuss changes to the
investment portfolio using majorityvote based on presentations andresearch. The executive board of theclub consists of two co-presidents andseveral vice presidents who managethe day-to-day operations.
âSPIFFY is completely student run,âProfessor Strong said. âWhen membersdecide to buy or sell, they donât haveto run it by me.â
Nearly 1,000 UMaine students haveparticipated in SPIFFY since its incep-tion, according to Professor Strong.SPIFFY alumni are spread all acrossthe United States as well as interna-tionally. They have become investmentbankers, portfolio managers, stock bro-kers, credit union managers, and ener-gy traders. They work on Wall Streetand at bank trust departments inMaine, at big firms in Boston, and atthe Mayo Clinic.
As faculty advisor, Professor Strongsaid he has helped at least a dozenother schools interested in organizinga similar program and has offeredadvice to around 75 schools with exist-ing student investment funds. âEachyear I get phone calls and emails fromother universities asking about SPIFFY.I know for certain that UMaineâs repu-tation in the business school communi-ty has been enhanced by the qualityand success of our program.â
SPIFFY participates in two annualtrips that provide members with theopportunity to learn even more aboutfinance management. In November,Professor Strong and four studentstravel to New York City to visit WallStreet and meet with a few of theFoundationâs other money managers.Helping to organize the clubâs annualvisit to New York City and Wall Streetis Mike Boyson, senior investmentmanagement consultant with SmithBarney in Portland, who handles bro-kerage duties for SPIFFY and theFoundation.
In March, 8-12 students andProfessor Strong head to the
University of Dayton in Dayton, Ohio,to participate in the RISE (RedefiningInvestment Strategy Education)Symposium which brings togetherleading students, faculty and profes-sionals to discuss issues facing theworld of financial investment.
âWe rub shoulders with studentsfrom Ohio State and Penn State and werealize we know just as much as theyknow,â Professor Strong said. âItâs agreat feeling. Five times we have beenone of a very few schools invited tomake a presentation on investmentstrategies to a panel of Wall Streetjudges.â
Thanks to a pair of $10,000Citigroup grants that the Foundationhas received, SPIFFY members havetaken to the road, visiting low-incomemiddle schools throughout Maine totalk about the stock market, the impor-tance of saving, the concept of com-pounding interest, and the basics offinance. The seventh and eighth gradestudents are fascinated by the SPIFFYpresentations and even those whonever considered going to collegebegin to think differently about highereducation, according to ProfessorStrong.
âThey get all fired up,â he said.ââIâm going to Orono!â they tell eachother.ââ
Middle school outreach will contin-ue to be part of SPIFFYâs agenda,according to Professor Strong.
âItâs been a great experience,â hesaid. âSPIFFY students have been goodstewards of the University.â
Former SPIFFY member AdamParker â03, who decided to attend theFoundationâs annual meeting afterfinding out that SPIFFY would be fea-tured, said Professor Strongâs presenta-tion about the club âmade me proud.â
Recalling his own years as a SPIFFYmember, Adam said the club âgave mea good opportunity to learn the finan-cial market by actually participating.
âI learn best hands-on.â â˛
MBSHonors
University of Maine Foundation Honors SPIFFY
8 Maine Business School
University of Maine 9
T eaching keeps Professor ofManagement Natalie Steiger onher toes.
âYou have to be constantly ahead ofstudents since theyâre constantly chal-lenging you,â she said. âBecause of allthe questions they ask, Iâve developeda better understanding of the material Ilearned as a Ph.D. student. One of thereasons I like to teach so much is that Iget to learn, too!â
Professor Steiger, who has been atthe University of Maine since 2000,teaches operations management andstatistical analysis to juniors, seniors,and graduate students.
âIn my operations managementclass we touch on planning, schedul-ing, inventory control, quality manage-ment, location analysis, and transporta-tion,â said the professor who aims inher classes to eliminate the anxiety thatthe quantitative nature of the subjectcauses some students.
âItâs nice to see students who may
have been apprehensive initially comeout of class feeling pretty good aboutstatistics and other mathematical meth-ods,â she said.
Teaching is Professor Steigerâs sec-ond career. After earning bachelorâsand masterâs degrees in mathematicsfrom the University of SouthernMississippi, she served as a junior engi-neer for South Central Bell in Jackson,Mississippi, and as an analyst andmanager for City Service Oil and GasCo. in Tulsa, Oklahoma.
In 1993, after being a stay-at-homemother for eight years, she was readyto return to the work force. But timeshad changed.
âWhen I left the oil industry I wasstill working on those huge, mainframecomputers. In the interim everythinghad gone to personal computers, so Iwas woefully inadequate on the tech-nology end of things. I knew I had toget re-educated, and since I alreadyhad my masterâs degree, I decided to
go for a Ph.D. so I could become auniversity professor,â saidProfessor Steiger who was 42when she returned to school.
A part-time student, sheenjoyed her classes at NorthCarolina State University inRaleigh. But she soon learned todread the 75-mile commute fromher home in Burlington, N.C.
âTraffic on the busiest high-way in the U.S. was always hor-rific,â she recalled. But her hardwork paid off and in 1999 she washired as a visiting assistant pro-fessor at the University of NorthCarolina at Greensborough busi-ness school. The next year, sheand her husband, David Steiger,professor of managementinformation, came to UMaine.
âWe decided we wanted to bein a small, university town, so we
were fortunate to be able to comehere,â Natalie Steiger said. âThe coldweather is challenging. Growing up inthe South, I was used to spring comingin March. But we like the small-townatmosphere â it was great for ourkids.â
In addition to her teaching duties,Professor Steiger serves as advisor toBeta Gamma Sigma, the business hon-ors society. âI enjoy being part of theMaine Business School,â she said. âIlike the camaraderie here.â
With her days chock-a-block full,Professor Steiger likes to unwind onthe weekends by reading and exercis-ing. âBallet used to be my hobby andIâd like to get back to it someday,â shesaid. âItâs rigorous but I like having toconcentrate. When Iâm on the treadmill,my mind wanders to all the chores Ihavenât done. I like having to focus onjust one thing.â â˛
Faculty Spotlight:
Professor of Management Natalie Steiger Aims to Allay Studentsâ Anxiety
When Paujo Bornstein graduatedfrom the Maine Business Schoolin 2006 he wanted to travel, land
a job in finance, and make a positive socialimpact. He has achieved all three goals.
Now living in Cambodia, Paujo worksas a consultant at the microfinanceinstitution AMK(www.amkcambodia.com) where hewrites policies that help the institutionextend loan opportunities to poor people âmainly women â so they can start theirown businesses and become self-sufficient.
âCambodia is one of the poorestcountries in the world and itâs coming outof a rough time in history,â said Bornstein.âI wanted to work at something in which Icould use the skills I learned at theuniversity and also perform some sort ofsocial mission. Microfinance seemed like agood crossroads for those two things. Ilike what Iâm doing and I like to think Iâmmaking a difference.â
Although he gets great satisfaction outof knowing heâs helping poor people liftthemselves up and become successfulentrepreneurs, Bornstein said his job canat times be as frustrating as it is fulfilling.âThe big issue in Cambodia is that thereare many microfinance institutions andlots of overlap in coverage areas. That canlead to over-indebtedness where peopleget multiple loans from more than oneinstitution. Sometimes they get one loan topay off another which leads to a viciouscycle. There are no credit bureaus here, soitâs difficult for one institution to knowthat a client already has a loan fromsomeone else.â
Aiming to help people make bettereconomic decisions, Bornstein plans tostart a business teaching financial literacyto microfinance clients. âPeople withbetter financial literacy skills will be lesslikely to take out multiple loans and willbe able to run their businesses better,â hesaid.
More than three years after graduatingfrom the Maine Business School, Bornsteinsaid he continues to rely on theknowledge he obtained there. âI had a
great experience atUMaine. Theprofessors areexcellent and I feellucky to have builtstrong friendshipswith some of them,particularlyProfessor RickBorgman andProfessor Bob Strong.I took numerousclasses with both. They are top notchprofessors who were always interestingand who gave me a good businessfoundation.â
Armed with solid business skills aswell as with the confidence that comesfrom being mentored by caring professors,Bornstein has become involved in a coupleof exciting business ventures in Cambodia,which, he said, is on the cusp of economicrecovery.
He and a business partner havepurchased the rights to movies and,through collaboration with a mobilephone provider, now offer the films onmobile phone networks.
âWe have a lot of long term visions forthe business,â he said. âThereâs a ton ofpirated software and DVDs in Cambodiawhich is a member of the World TradeOrganization. The WTO says that by 2016all the DVDs and software must be legal.That means that big studios are going tocome here because they wonât be afraidtheir movies will be pirated. We want tobe an integral part of that. Weâre signingagreements with the government so thatwhen these studios come weâll be able toprovide them with services that will helpthem navigate Cambodiaâs businessenvironment.â
Always looking to fulfill what he callshis âsocial mission,â Bornstein has anotherbusiness plan which involves opening amovie theatre and a bar or cafĂŠ. âWeâdlook to partner with an international NGO(non-governmental agency) that trainsstreet children to work in restaurants sothey can acquire job skills. A bar or cafĂŠ is
slightly different than what NGOs arecurrently involved in, and it would beanother skill the children could learn.â
âIn Cambodia there are lots of optionsto perform social good,â he said. âWhat ismore difficult is to find a way to set up abusiness that has a strong socialcomponent, but that can also be profitablefor long term sustainability.â
Bornstein isnât sure how long heâllremain in Southeast Asia. His plan is tomove to Germany and enroll in auniversity that partners with some U.S.universities. By studying for one year inthe U.S. and one year in Germany hecould earn a degree from both countries.One of these would be a masterâs degreein finance.
âIt would enhance my education andhelp me move in the direction of a careerin finance,â he said. âBut it all depends onhow my businesses here go. Iâm keepingmy options open.â
A world traveler who backpackedthrough Europe after graduating fromhigh school in Readfield, Maine, Bornsteinstudied in Spain and Mexico while atUMaine. He calls travel âaddictive.â
âI like learning and seeing othercultures,â he said. âI think travel isespecially important for business studentsbecause businesses are global and thereare no boundaries anymore. To becompetitive in the business world, it helpsto have a world perspective and itâs mucheasier to have this when youâve traveledand when youâre aware that thereâs aworld that can be very different outside of
continued next page
10 Maine Business School
MBSAlumni
Alumni Spotlight:
Paujo Bornstein â06 Works asMicrofinance Consultant inCambodia
University of Maine 11
Rebecca Hawkins
As a student at the Maine BusinessSchool Rebecca Hawkins did lotsof traveling abroad. She taught
English in Spain and she attendeduniversities in England and Turkey.Along the way she also toured WesternEurope.
Now that she has graduated she plansto see even more of the world.
âIâd like to teach English inArgentina,â said Hawkins, who earned abachelorâs degree in management andinternational business in December.âThen Iâd like to work in Asia. I want togain some real-world experience before Igo to graduate school.â
Real-world experience always has beena priority for Hawkins. When she was ajunior at the University of Maine, shespent her spring semester working inWashington, D.C., as a trade intern for theMexican Embassy in the North AmericanFree Trade Agreement (NAFTA) division.Her main duties involved helping
American companies doing business inMexico.
âWorking as trade interns, we metwith businesses, attended congressionalhearings, conducted research and wroteabout trade laws, as well as advocated thebenefits of NAFTA,â she said. âNot onlydid we have our internship duties, but wetook classes at Washington InternshipInstitute and toured the capitol. Wevisited the World Bank, the InternationalMonetary Fund (IMF), and the CIA.â
Her experience in Washington led toanother internship at the MaineInternational Trade Center in Portland inthe summer of 2009. âI assisted Mainebusinesses that were looking to export,and a large majority of these businesseswere looking to establish relationshipswith Canadian firms,â she said. âI alsohelped host a Japanese delegation that hasstrong business ties to the state of Maine.Thereâs a big market for Maine seafood inAsia.â
The internships âhelped me learnabout economics and complemented mystudies, since trade is a huge part ofinternational business,â she said. âYoucan learn so much from internshipexperiences. They should be mandatoryfor all UMaine business students.â
She praised the Maine Business Schoolfor helping her broaden her horizons.âThe faculty is very supportive ofstudents having experiences outside the
âEverything is great in Spain âthe weather, the language, theculture. I loved it.â
â Rebecca Hawkins
Alumni Spotlight:
Rebecca Hawkins â09Says InternshipsEnhanced Her MBSExperience
classroom. They encourage internationaltravel and are flexible about transfercredits. Professors (Gloria) Vollmers and(Ivan) Manev were particularly helpful.â
Traveling is vital today, especially forbusiness students, Hawkins said.âEverything is global now â the servicesyou use, the products you consume. Asmuch as possible, students need todevelop an awareness of other cultures,places, and languages. You need to do asmuch as you can to connect with otherparts of the world.â
âI fell in love with Portugal andItaly. Scotland and Ireland werealso impressive, but cold.â
â Rebecca Hawkins
For Hawkins, the future is filled withpossibilities. She has applied for aFulbright Teaching Assistantship inArgentina and ultimately will pursue agraduate degree in international business.
For now, though, she looks forward tobecoming certified in English as a SecondLanguage and teaching students in otherparts of the world. She will be on her ownas she tours the world, but she doesnâtfind that the least bit daunting.
âIâm pretty independent, and I liketraveling alone. You can have your ownadventure and customize it to exactlywhat you want it to be.â â˛
Readfield, Maine. I like to think that mytravel has allowed me to have a decentunderstanding of different people,different cultures, and different religions.
âIâve had people say to me that it mustbe awful to travel alone, but I mademany, many good friends because itâseasier to meet people when youâre byyourself,â he said. âAlso, I think you learnto be resourceful when you travel alone.You figure out whatâs important to you.
âThe world would be a better place ifpeople traveled more.â â˛
Paujo Bornstein continued
12 Maine Business School
The days are flying by forAnh Do! Working inLondon as a risk
management analyst forCitigroup is keeping the 2008University of Maine finance andaccounting graduate nonstopbusy.
âThis is a very excitingexperience,â said Do, who tookon her new position with theworldâs largest financial servicescompany last September. âMyjob is to help evaluate andanalyze the risks Citigroup takeson every day in their ongoingbusiness activities, whether it istrading, investment banking, orasset management. We assesswhether Citigroupâs risk exposure isappropriate and from that we advise thebusiness side of the company so we canensure that the company is makingintelligent and calculated risks.â
Do has been on the move sincegraduating from UMaine. After workingas a research analyst with the brokeragefirm of Sterne Agee in New York City forfour months, she decided to attend theUniversity of Cambridge in Englandwhere she earned her masterâs degree infinance. Then it was back to Manhattanwhere she spent 10 weeks training withCitigroup before starting at her desk inLondon. Her first week was a whirlwindof activity.
âIâm learning peopleâs names, going tomeetings, participating in conferencecalls, and getting familiar with thecompany,â she said. âIâm doing a greatdeal of analytical work that includes a lotof reading, writing, and financialmodeling.â
People are paying more attention torisk management analysis in light of thecurrent financial crisis, according to Do.âFinancial institutions â as well asregulators such as the Federal Reserveand the U.S. government â realize nowhow important it is and itâs very excitingto be part of the whole process.â
Do said she continually finds herselfhearkening back to the skills and trainingshe acquired at Orono. âEvery day I recall
the concepts, financial knowledge, andterminologies I learned at UMaine. Nowthat Iâm actually in the industry I realizehow much I know and how well preparedI am thanks to UMaine. This makes a bigdifference in my confidence. I feel asthough I measured up well to theCambridge students who attendedschools like Harvard and Berkeley, and Iknow that I can hold my own with mycolleagues here at Citigroup.â
A native of Vietnam, Do is one of theMaine Business Schoolâs most inspiringsuccess stories. Salutatorian of hergraduating class, she was namedOutstanding Graduating Student in theCollege of Business, Public Policy andHealth, as well as that collegeâsOutstanding International Student for2008. She was a member of All MaineWomen Honor Society and was active inthe International Student Association, theOffice of Multicultural Programs, SPIFFY,and Student Government where she wasvice president for financial affairs. Sheserved as a resident assistant on campusand was a member of numerous honorsocieties including All Maine Women,Golden Key, Beta Gamma Sigma, and PhiKappa Phi which awarded her afellowship and an award of excellence.During her four years at UMaine, Anhreturned home to Hanoi annually whereshe interned at KPMG, an auditing firm,and at HSBC, a UK commercial bank.
âFinance is a very exciting field to be
in because it is crucial tounderstand it in order tosucceed in both business andsocial activities,â she said. âIhave always wanted to work inthe business field since I was asmall child, but of course wasnâtsure exactly what I wanted todo. As I grew up and learnedmore about different things atschool, I just found my naturalpassion for finance.â
Calling her time at UMaineâchallenging and rewarding,âDo said the faculty wereknowledgeable and helpful andthat she made âa lot of lifelongfriendships that I really treasure.
âI have lots of goodmemories of UMaine,â said Do, whoplans on visiting the campus as much aspossible and becoming an active andinvolved alumna.
While the university provided herwith a solid, practical business educationthat has led to her burgeoning career infinance, Do also credits it with âshapingmy personality and making me who I amâ someone with confidence who iscapable of doing things and having apurpose in life.â
After spending long hours on the job,Do said she looks forward to unwindingon weekends. âIn my free time, Inormally go to the gym, cook, read, ortake a walk to one of these beautiful parksin London. Cooking is one of my passionsâ I enjoy trying different cuisines fromdifferent countries and then making themmyself. Other than that my weekend isnormally spent on catching up withfamily and friends and catching up withsleep as well!â
Each day brings new challenges andopportunities as she gains experiencewith finance, investment, and banking.But sheâs keeping an eye on the future,too. At some point she plans to return toViet Nam to help set up a moredeveloped financial system.
âThe country is developing and thereare a lot of opportunities there,â Do said. â˛
Alumni Spotlight:
Anh Do â08 Works at Risk Management Analyst at Citigroup
University of Maine 13
This yearâs incoming MBA/MSAstudents got a head start on theirgraduate program thanks to
Residency Week.Held annually at the end of August,
Residency Week enables new students tobecome familiar with the Maine BusinessSchool curriculum and to get to knowtheir colleagues even before classes start. Itincludes intensive seminars on marketing,accounting and finance; team buildingphysical activities through the MaineBound Adventure Center; and anopportunity to solve real-life businessproblems using case analysis.
âResidency Week is designed to helpnew MBA students understand the typesof activities theyâll encounter, the level ofacademic rigor and performance thatâsexpected, and the tools theyâll need tosucceed,â said Professor Paul Myer, whoorganized the program along withProfessor Nory Jones, director of graduateprograms for the College of Business, andprofessors Jason Harkins and Patti Collett.
âThe program also aims to create asense of community among the MBAstudents themselves,â Professor Myer said.
Residency Week 2009-2010 was arewarding and enjoyable experience,according to several participants who saidthey appreciated the opportunity to meetMBS faculty and fellow graduate students.They said the mini-classes werestimulating and the physical activitiesprovided a fun way to get to know theirclassmates quickly.
âI canât think of a better way to kick offmy MBA experience than with ResidencyWeek,â student Shannon Byers said.
Although students typically arerequired during Residency Week toanalyze and solve challenges faced bylocal businesses, this year they were askedto analyze UMaineâs MBA program andthen create a marketing plan to grow it.
Divided into teams, participants cameup with a variety of recommendations thatincluded reaching out to international andnon-traditional students, using alumnirelationships to increase awareness of theMBA program, and developing a schoolbrand.
Making their presentations to DeanJohn Mahon and faculty, students werepoised and articulate as they explained
details of their marketing strategies andanswered questions from the audience. Itwas obvious from the laughter and goodnatured ribbing that they already werecomfortable with each other and withtheir professors.
âResidency Week definitely helped usdevelop a sense of camaraderie with theother first year MBA/MSA students, saidNicole Gogan who also âgained a bettersense of the strength of the MBS programsas well as an appreciation for the depthand experience of the faculty.â
Student Jonathan Charette calledResidency Week a âuseful tool forintroducing us to many aspects of theUMaine MBA/MSA program,â and saidhe was pleased to be able to get an idea ofthe curriculum.
Residency Week helped her understandhow to communicate effectively, saidstudent Shannon Byers. âThe combinationof physical activities and lectures and thetask of analyzing and solving real businessproblems solidified the importance ofgood communication in a way I havenever experienced.â
Thanks to the case analysis assignment,student Amy Irish came away with âabetter understanding of how to meetdeadlines, incorporate last minute details,and work as a team,â she said.
As they evaluated the Maine BusinessSchool program, students happilyreflected on their own reasons forenrolling. They said they were impressedthat the school is accredited by AACSBInternational â the Association to AdvanceCollegiate Schools of Business â and likedthat the curriculum combines traditionalbusiness skills with hands-onopportunities including the internationalfield experience and theconsulting/internship program.
âI knew the MBA program at theMaine Business School would provide theright base from which I could build mycareer,â said Charette.
MBA/MSA Students Are Introduced toTheir Program During Residency Week
14 Maine Business School
The Maine Business School wantsgraduates to head into theworkforce feeling prepared and
confident. Thatâs why we encourage ourstudents to participate in internships.These short-term, temporary, supervisedemployment opportunities help themgain valuable professional experienceand build leadership skills.
We would like to see many morestudents reap the benefits of internshipsâ particularly internships with alums.But to boost participation we needadditional opportunities.
Consider offering an internship atyour workplace. Youâll be engaging thenext generation of Maine BusinessSchool graduates and providing themwith a fantastic opportunity to follow inthe footsteps of another University ofMaine graduate. And youâll become arole model who represents what UMainealumni can do. While MBS studentsbring their talents and enthusiasm toyour firms and businesses andstrengthen our identification as a school,
youâll increase your productivity andhave a chance to groom a potentialemployee who is familiar with yourcompany. Youâll also be giving back tothe university in your own unique way.
And, if you do business in Maine,youâll be doing your part to help stemwhat has been dubbed the brain drain!
âWe want to keep people in thestate after graduation andMaine-based internships are thebest way to support that,â saidMBS Professor Scott Anchors.
MBS instructors say internshipsbroaden studentsâ horizons, help themsee if theyâre headed in the rightprofessional direction, and teachteamwork and leadership skills. Studentssay internships complement theirclassroom work and enable them to seethe relevance of what theyâre learning.
Businesses also consider internships a
boon. âInterns bring with them the latestand greatest technology skills and freshideas gained from their business classes,âsaid Cathy Nugent, talent acquisitionspecialist for Hannaford Supermarkets.
Internships enable a company toâscout out potential employees in arealistic format,â she said. âTo really getto see how someone acts in a jobsituation is a huge plus for us. If you hiresomeone who has been an intern, youcan count on them getting up to speedfaster because theyâre already aware ofcompany culture. They can hit theground running.â
Sherwin Williams also uses summerinternships at stores around the state toscreen potential employees, according toTom Pitts, district manager. He said theBangor store has hired at least one interneach summer during the past severalyears with help from UMaineâs CareerCenter which âdoes a nice job helping topre-qualify interns and set up interviews.
âInternships are a two-way street,âsaid Pitts. âStudents get to see if they
Alums Encouraged to Provide Internship Opportunities to Maine Business School Students
Student Travelers Speak to Maine Tourism Advisory Committee
MBA students who visitedBrazil last year to learn abouteco-tourism told the Maine
Tourism Advisory Committee that theinformation they acquired while in Brazilcould be applied right here in Maine.
Student travelers Brenton Murray,Nicholas Nadeau, Amy Sundberg, andJustin Jamison said during a presentationat The Senator Inn in Augusta last fallthat Maine could replicate the thrivingeco-tourism industry in Amazonas, Brazil.Although the two states are distinct in anumber of ways, there are similarities:they both have native populations and astrong ethic to preserve their culturalheritage and they both are rural andunder pressure to preserve the naturalenvironment. In both cases that meansforest management and preservation.
Eco-tourism, a way for travelers to
engage in sustainable tourism whilevacationing, is becoming increasinglypopular. But to be successful, an eco-tourism venture must meet a number ofcriteria, the students said. It should be agrassroots community effort with thelocal population heavily involved in theprogram; contribute to the local economy;preserve the stateâs natural resources andcultural heritage; include a variety ofactivities; and provide opportunities forvacationers to learn and to respectfullyconnect with the local culture and fellowtravelers.
Composed of industry andgovernment leaders, the Maine TourismAdvisory Committee serves as theadvisory board for CenTRO, the Centerfor Tourism Research and Outreach,based at the University of Maine. CenTROcoordinates research, outreach and
educational programs related torecreation and tourism, and is directed byUMaine Professor of Marketing HaroldDaniel, who accompanied the students toBrazil and asked them to give apresentation to the advisory committee onwhat they learned about eco-tourism.
âThis is a big gift from the students toyou,â he told the committee.
The Maine Business School requiresMBA students to participate ininternational travel structured as courses.Travel expenses are covered by feesadded to their tuition.
The students said they experiencedtwo very different types of eco-tourism inBrazil: Ariau Towers, a luxury hotel in themiddle of the Amazon Jungle completewith cable TV, air conditioning, andgourmet meals; and the Uacari Lodgewhich floats on the Amazon River, relies
University of Maine 15
on solar energy, and is owned andmanaged by the local population.
Regardless of their approach, eco-tourism vacations can be marketed to alltypes of travelers â whether they like tosee and do new things or prefer familiardestinations, whether they are from out ofstate or live locally, or whether they areseeking adventure or yearning for arelaxing retreat, according to the students.These vacation spots should offer a broadrange of activities that reflect their naturalsettings including hiking, rock climbing,swimming, boating, and beach lounging.However, eco-tourism works best when itprovides visitors with an educationalexperience about the local culture andenvironment. Students said eco-tourismdestinations should form partnershipswith hotels, cruise ships, andtransportation companies so accessibilitywonât be an issue for travelers.
Committee members praised thestudents for their informative, wellexecuted presentation and said theyprovided valuable insight. Peter Daigle,
chief operating officer of Lafayette Hotels,said the tourism industry needs toâdevelop every potential new source ofbusiness. Maine has so much to offer ineco-tourism, the great outdoors, and all ofthe activities associated with our forests,lakes and seacoast. A perspective fromanother country as the students presentedgives us a view that we might notconsider otherwise. I think the board willadd this to its library of resources to helpbusiness get into the young field of eco-tourism.â
Another committee member, BowdoinCollege Economics Professor David Vail,said âif, as I hope, CenTROâs AdvisoryCommittee launches a serious discussionabout eco-tourism quality labeling andcertification in Maine, then we will needto address several issues raised by thestudents.â For example, he said, thecommittee would have to decide how tocreate mutually beneficial relationshipsbetween eco-tourism ventures and localcommunities and how to ensure that theecosystem isnât degraded and that local
cultures and residents experience thefewest negative impacts. The committeealso would be called upon to evaluate therole of eco-resorts as destination magnetsand determine how to train employees toensure the highest level of service quality,Professor Vail said.
Students said after the presentationthat they enjoyed relating theirecotourism experience to the CenTROadvisory committee.
âIt was nice to see that the audienceappreciated hearing our perspective andthat it seemed to offer food for thought,âsaid Amy Sundberg. âIt feels greatknowing our work could have aninfluence on how the tourist board makesdecisions.â
Providing information that couldinfluence public policy is âincrediblyrewarding and a testament to thetremendous value that the MaineBusiness School MBA program offers tothe state and the University of Maine,âsaid Nick Nadeau. â˛
want to work for us after graduation andwe get to see if we want them to workfor us after graduation. Meanwhile, theyhave the opportunity to learn how ourbusiness is run and we have theopportunity to groom someone who isless likely to be overwhelmed as a full-time assistant manager. It works outwell.â
Kevin Williamsâ09, who applied for asummer internship at Sherwin Williamsin Bangor through the UMaine CareerCenterâs CareerLink job postingdatabase,(http://www.umaine.edu/career/careerlink.html) now has a full time job withthe company managing the Yarmouthstore.
As an intern, Sherwin Williamsâbasically handed the reins to me,âWilliams said. âIt was my responsibilityto oversee all day-to-day operations so Icame away with a good understandingof all the really important stuff â how toorganize purchase orders, buildrelationships with customers andemployees, provide good service, andcontrol business expenses.â
Mark Castonguay â09 said heobtained some valuable practicalexperience as an intern with Hannaford
Supermarket in Bangor, also listed inUMaine CareerLink. âItâs nice to havethe classroom theory, but itâs entirelydifferent to actually see the numbers andimplement the strategies,â saidCastonguay, who was offered a full-timejob by Hannaford and now is a delimanager trainee at the Rockland store.
âThrough my internship, I came tounderstand the ins and outs ofscheduling, budgets, payroll, inventories,and even dealing with customers. I gotan overall view of what it takes frommorning to night, week to week, andmonth to month to operate a business.My internship also gave me more insightinto what a career with Hannafordwould entail.â
Hannaford makes it a point toprovide interns with meaningful,challenging projects that require studentsto use their research, analytical,communication and leadership skills,said Nugent. âWe make use of their fullpotential. But in our experience, UMainestudents enjoy any task we assign them.They are very grounded. They roll uptheir sleeves and arenât afraid of hands-on work.â
Sherwin Williams also takesadvantage of internsâ abilities. At the end
of their stint, students are asked to makea presentation to managementrecommending ways that the companycan improve. âWeâre looking for newideas,â said Pitts. âWe figure that maybean intern will have new thoughts abouthow we can approach a problem.â
Internships can take place during theschool year or the summer. They can beany duration and they can be paid orunpaid. Itâs up to you and the student todetermine the details. To provide aninternship or obtain more informationabout providing internships, contactCathy Marquez [email protected] or 581-1353. For more information about settingup a formal internship, includinganswers to legal and liability concerns,go tohttp://www.umaine.edu/career/employerservices.html. The Career Center ishosting its annual All Majors CareerFair on Wednesday, Jan. 27, at theStudent Recreation & Fitness Centerfrom 10 a.m. to 3 p.m. This is a greatopportunity for employers to talk to newgraduates seeking full-time employmentas well as undergrads and MBS studentsseeking internships. â˛
Jon Sorenson â86, chair of the MaineBusiness School Advisory Board, wasgiven the first-ever âMarcus Urann
Leadership in Actionâ Award for his sup-port of the University of Maine at theboardâs Fall meeting at Point Lookout inNorthport. He was presented the awardby UMaine President Robert A. Kennedyand Dean John Mahon of the College ofBusiness, Public Policy and Health anddirector of the Maine Business School. âIam very humbled to be given such a dis-tinguished award,â said Sorenson, a part-ner with Competitive Energy Services, aPortland, Maine-based energy manage-ment firm that helps institutions, indus-tries, and commercial and manufacturingcompanies procure and manage theirenergy. âMy goal as a contributor isalways to help â help the university havesound economic policies as they relate to
energy, help improve the high level ofeducation already offered by the universi-ty, help attract students, and help alumniunite, reconnect, network, and, in time,give back to our great alma mater. I verymuch appreciate that President Kennedyand Dean Mahon have recognized theeffort that I have put forward.â CallingSorenson âa force of nature who brings atsunami-level passion to all that he does,âDean Mahon said, âWe are fortunate tohave him so committed to UMaine and tothe Maine Business School.â MarcusUrann, captain of the first UMaine footballteam, is largely credited with being themoving force behind the creation of PhiKappa Phi, the worldâs largest honor socie-ty. Urann, an attorney and cranberrygrower, created the cooperative that laterbecame Ocean Spray Cranberries. â˛
MBSNews
Nonprofit Org.U.S. Postage
PAIDOrono, MainePermit No. 8
Maine Business School5723 Corbett Business BuildingOrono, Maine 04469-5723
www.umaine.edu/mbsnews
Jon Sorenson â86 Receives First-Ever âMarcus Urann Leadership in Actionâ Award
Coming EventsFebruary: MBS faculty addressesethics across the curriculum in allcourses for one week.
Thursday, Feb. 11, 6-9 p.m.: World ofCoke, One Coca-Cola Plaza N.W.,Atlanta, Ga. Dinner with Dean JohnMahon and UMaine AlumniAssociation President Todd Saucier.Host: Patrice Krant, director, GlobalProcurement Best Practices
Friday, Feb. 12, noon: Wine CellarRestaurant, North Redington Beach,Fl. Lunch with Dean Mahon andTodd Saucier. Hosts: Paul and NanDesmond
Saturday., Feb. 13, noon: Polo Grill,Lakewood Ranch, Sarasota, Fl. Lunchwith Dean Mahon and Todd Saucier.Hosts: WBRC Architects/Engineers
Sunday, Feb. 14, noon: The ClubPelican Bay, Naples, Fl. Brunch withDean Mahon and Todd Saucier.Hosts: Honorable William and VivianTreat
March 1-3: Dean John Mahon travelsto Brussels, Belgium
Thursday, April 8, 5:30-7:30 p.m.:Boston Executive Club of theUniversity of Maine, CDM, 50Hampshire St., Cambridge, Ma.Presentation by Dr. Habib Dagher,director of UMaineâs AdvancedEngineered Wood CompositesCenter, on development of deepwater wind farms along the MaineCoast. Host: Richard Fox
Thursday, April 22, 9:30 a.m â 4 p.m.:MBS Advisory Board spring meeting
Thursday, April 22, 5-8:30 p.m.: MBSHonors and Awards Banquet, WellsConference Center
Tuesday, May 4, 5:30 -7:30 p.m.:Spring Reception, Portland, Me.Location: TBA
Saturday, May 8, 10:30 a.m.:University of Maine graduation
May 24-May 27: Dean John Mahontravels to England â˛
Jon Sorenson (center), member of the Maine Business School Advisory Board, receiving Urann Award. DeanJohn Mahon is shown on the left and President Kennedy is pictured right.