Happy New Year!

Greetings & News from Susan Casey, Your Alumni Officer

Dear Management Alumni:

Happy New Year! I am so excited for you to read this version of our newsletter, where we feature the undergraduate CORE program. Alumni who took CORE in their junior year tell me it was highly rigorous, but also one of most invaluable aspects of their SMG education. I hope you enjoy reading on and seeing pictures of the innovative products our current juniors have designed—in addition to our regular newsletter features (and pictures!) of upcoming and past events, new faculty research, and more.

I’d also like to share with you some New Year’s news involving a personal transition. I am headed to a new position at Esperanza Academy, a middle school in Lawrence that I helped to found while I was working on my MBA at Boston University. I have been less involved with Esperanza in the last year, but recently I have felt "called" to renew my committment to it. When I discovered they were looking for a development person, I could not help but return to this endeavor, which my experience as an MBA student at BU helped me to plan and realize.

This was not an easy decision for me. I love BU and am very excited about where the University is heading under the leadership of Dr. Robert Brown. (Be sure to check out the report from the strategic Planning Task Force about the future of the University.) In other words, I would not leave for just any job. You can read more about Esperanza in this article from the NorthWest’s front section of the Boston Globe on Sunday, December 31.

I also plan to stay involved with Boston University as an alumna. As time permits, I will attend some of the amazing events the School of Management and the wider University offers. And, of course I will continue to support the University as a donor to the Annual Fund, one of the most convenient and effective way for us, as alumni, to stay involved. If, like me, you are looking for ways to remain connected to the vibrant BU community even after you move on to new life stages, here are some other great ways to stay involved:

• Stay current on the School's accomplishments by reading Builders & Leaders
• Subscribe to our faculty research newsletter
• Attend alumni events
• Refer students to our BSBA, MBA, MSIM and EMBA programs
• Consider BU for your company's executive education needs
• Invest in the Annual Fund and provide the School the operating flexibility it needs to compete against much more well-endowed competitors
• Hire our students. The value of your degree depends on the success of today's students!
• Mentor current students through the Career Advisory Network.
• Join the BU MBA group on Linked In, a powerful professional networking tool.
• Stay in touch with your friends and update your profile on the Alumni Link, your link to more than 200,000 fellow BU alumni.

I look forward to staying in touch with you through opportunities like these!

My best wishes to you in 2007.

Susan

 

core strengths: showcasing smg's best

SM323: The Cross Functional Core

Core Overview

“The Core provides an exceptional learning experience, challenging students to go beyond business theory by tackling real-world issues, providing a broader and deeper understanding of the business world. The School's global population and The Core's interactive learning experience prepare students to face the demands they will encounter once they enter into an internship or full-time position.” —Walter Taraska, Recruiter & Managing Consultant, IBM Global Business Services

SM323, The Cross Functional Core, is an award winning curricular innovation. It consists of four functional courses—Marketing, Operations, Information Systems, and Finance—all integrated into a unique sequence through a common semester-long project.

The SM323 New Product project is the cornerstone of the course, giving students hands-on experience working in teams to build a business plan and:

• design a new product that meets customer needs
• assess customers and markets
• develop operations processes and information systems to support their product
• understand the risks involved in implementing and financing the project

Core Successes

“My job is like The Core… only it’s real-life! I work in cross functional teams to create product proposals that include creative, product positioning, financial projections and industrial operations. My team members have a higher level of respect for me because I understand what they do. I can communicate with the other departments about balance sheets, financial forecasting, operations, and inventory." —Jeremy Lowenstein, SMG ’04 & Assistant Marketing Manager, AVEDA

In addition to winning numerous awards and recognition for curriculum innovation, SM323 is one of the key elements differentiating the Boston University School of Management undergraduate curriculum from other programs. In 2005, the School hosted a Curricular Innovations Conference in which The Core was the major focus. Approximately 50 schools from around the country and world, represented by deans and faculty, came to learn about Core and how to adapt some of its key learning elements for their institutions.

In addition, the School of Management was recently recognized by The National Consortium of Entrepreneurship Centers as the first award winner for Excellence in Entrepreneurship Teaching and Pedagogical Innovation, and SMG was lauded, in particular, for its cross-functional Core Course. The School has also been invited by the AACSB International, the organization that accredits business school, to present Core at several of their conferences, where Core faculty have shown how integration is achieved and discussed the benefits of this unique program.

“Cross functional teams are at the center of the educational philosophy at SMG. After all, this is the manner in which most businesses function. As management educators, we have long been convinced that to train effective business leaders, we have to educate them to think across functional silos and prepare them to work effectively in teams.” —Jonathan Hibbard, Core Course Coordinator & Assistant Professor of Marketing

More details about Core's success are outlined in this article (pdf), written by SMG faculty Frederic Brunel and Jonathan Hibbard (Core Course Coordinator), "Using Innovations in Student Teaming to Leverage Cross-Functional and Marketing Learning: Evidence from a Fully Integrated Undergraduate Core." The article uses several years of course data to show how student members of teams who are operating in a cohesive manner perform better on their own individual exams. It was recently published in Marketing Education Review (Fall 2006, Vol. 16 Issue 3, p. 15-23).

2006's SM323 New Product Showcase: Wednesday, December 13

“We speak here of ‘fusing the art, science and technology of business. The ‘art’ of business, so difficult to impart, is a missing element in management education. The required Cross Functional Core, involving student teams with a measurable stake in each other’s learning and success, is one of the ways we instill appreciation for the art of business.” —Louis Lataif, Dean, Boston University School of Management

Each year, the Core Showcase is set up as a tradeshow capping the fall SM323 Core course. It allows approximately 50 student teams to display the results of their semester-long work by demonstrating product prototypes and showing marketing materials, business plans, and web sites that they developed for the new product development focused course. The winning teams each have their product names engraved on the Showcase trophy and receive framed certificates.

About 600 students, parents, and alumni attended this fall's 2006 showcase, involving the School’s largest-ever class: comprising 9 sections totaling 415 students taught by 20 faculty members. The winning teams, as voted by their peers, for Fall 2006:

Best Product Concept (tie):

The Brushing Buddy
The Brushing Buddy is a children’s toothpaste dispenser shaped like a puppy dog which holds different sizes toothpaste tubes from the leading manufacturers. It is designed to make brushing fun for a child and easier for parents. When a child presses a button, a pea-sized amount of toothpaste is dispensed and a song plays for two minutes – the recommended brushing time by dentists.

Team members, L to R: Phillip Weed, James Pang, Jay Sinha, Jessica Moore, Jennifer MacDonald, Brad Speiser (not pictured Sue Huang)

Faculty Advisors: Jeff Allen, Ted Chadwick, Jonathan Hibbard, Feng Tian

Grab’n Go Collar
The Grab’n Go is a new dog nylon collar that shares that also functions as a retractable dog leash. It’s lightweight yet durable design allows it to be worn by the dog at all times.

Team members: Sarina Accime, Shawn M. Amand, Danielle M. Goryl, Michael O’Day, Alexander Ryan, Sheila R. Swedberg, Noel Wimmer

Faculty Advisors: Jeff Miller, Keith Osher, Deb Utter, Stephanie Watts

 

Most Likely to Succeed:

The Sphan
The Sphan is a spherical shaped, portable fan that circulates air 360 degrees. Designed to create the highest level of customer comfort, the Sphan spins eight vertically positioned blades, attached to a vertical axle to quietly circulate air. Adjustable to be used on a table or the floor.

Team members, L to R: Cole Bramley, Dennis Labbancz, Shavata Gupta, Elizabeth Baker, David Cobbeni (not pictured Hyojin Kwon, Anuj Shelat)

Faculty Advisors: Jeff Allen, Ted Chadwick, Jonathan Hibbard, Feng Tian

Best Trade Show Booth:

The Adjustable Garden Stake System
The Adjustable Garden Stake System is a set of four, four-foot steel garden stakes. Two stakes function as ‘bottom’ pieces with hooks, while two are slotted ‘top’ pieces. The stakes can be arranged according to individual needs; a customer can hook bottom and top pieces together, creating an adjustable stake ranging from 4-7 feet, or use each stake independently. Gardeners are no longer forced to purchase multiple sizes of plant supports.

Team members: Becky Isaacson, Stella Widjaja, Parita Patel, Cannon Stamm, Kevin Broomell, Ann-Marie Crain, Sam Hellman-Mass

Faculty Advisors: Jeff Miller, Keith Osher, Deb Utter, Stephanie Watts

Faculty advisors Deb Utter and Keith Osher give the The Adjustable Garden Stake System a whirl.

More pictures from 2006's SM323 New Product Showcase

 

upcoming events

2nd Annual Dean’s Host Reunion: January 19, 2007

A great opportunity for past Dean’s Hosts to reconnect with SMG, talk to current SMG students who are also Dean’s Hosts, and hear from Dean Lataif. This event is being held during Winterfest Weekend so you can plan to stay on campus for more events!

A free buffet dinner will be served.

Friday, January 19, 2007
6:00-8:00pm
Executive Leadership Center
4th Floor
School of Management
595 Commonwealth Avenue

Hosted by Dean Lataif and the current School of Management Dean’s Hosts.

Please RSVP by Monday, January 15, to smgalum@bu.edu or by calling Jenn Tobin at 617-353-5618. (Please be sure to indicate your current place of work and contact info for distribution to all attendees at the reunion).

Health Sector Management Club Social Event: January 19, 2007

The Health Sector Management Club is hosting this special social event, enabling alumni to reconnect with your old friends and meet current students in the program:

Friday, January 29, 2007
6:30-8:30pm
Vox Populi
755 Boylston Street, Boston

Appetizers will be provided. Free drinks for the first 40 attendees!

Please RSVP by January 14 to Natalie MacDonald, ndm@bu.edu.

(If you have new contact information or would prefer to be contacted at a different email, please let us know. And please stay tuned for information on the Health Sector Panel Discussion January 24th!)

Winterfest 2007: January 20-21, 2007

January sparkles once again, at BU’s second annual weekend of winter family fun! See old friends and meet new ones, learn something unexpected in Alumni College classes, and root for Terrier men’s hockey and basketball teams as they take on visiting rivals! Warm your hands with a cup of hot chocolate as you stroll the promenade of student and alumni ice sculptures—or jump in and sculpt a creation of your own. Enjoy festive food, ice skating at the Agganis Arena, and kids’ activities, along with courses on Hitchcock’s films, personal finance, and more. Come celebrate your alma mater, and create winter memories to cherish.

For more info, please contact Alumni Relations at 800-800-3466 or alumni@bu.edu.

WMBAA Networking Event: February 2, 2007

All GSM alumna are invited to enjoy an evening of conversation, camaraderie, and fun with the Boston University Women’s MBA Association (WMBAA):

• Friday, February 2nd, 6:00–9:00 p.m.
• The home of Dr. Sue Reamer (GSM ’83 and leader in women’s education, volunteerism and philanthropy) in Chestnut Hill, MA
• Please RSVP by Monday January 29th, by email at wmbaa@bu.edu, or by calling Caitlin MacDonald at 207-319-6046. If you need directions and have not already gotten them by mail, we'll give them to you when you RSVP.

This event will enable current MBA students, alumnae from the Greater Boston area, and faculty to get to know each other better and to make new connections within the School of Management community. A robust turnout by GSM alumnae will help us to provide women MBA students as well as fellow alumnae a great networking opportunity.

The WMBAA is a student-run organization created to provide a forum for students, alumnae, faculty, and staff to discuss issues facing women in today’s diverse workplace. This is one of a number of events planned and hosted by the WMBAA throughout the academic year.

This year we are making a strong effort to reach out to alumnae and better connect current and past members of the WMBAA. Should you be unable to join us on the 2nd, please email us @ wmbaa@bu.edu with your current contact information so that we can update our database.

We hope to see you there!

Asian Business Club Networking Event: February 2, 2007

BU's Asian Business Club will host this event for all alumni and current students to reconnect
with the school and meet some of the current MBA students. Hors d'oeuvres, a free drink per alumni, and great networking will be provided!

Friday, February 2, 2007
6:30-9:30pm
Saint @ the Copley Square Hotel
90 Exeter St Boston, MA 02116

To RSVP or for more info, please email us at buabc@bu.edu with your name, graduating year, and contact information (preferred email, phone, etc.), and we'll get back to you.

MBA Symposium 2007: February 10, 2007

"Turning Vision into Strategy": An Annual Forum for Current and Future Business Leaders

Featuring keynote speakers Kenneth Feld, Chairman and CEO, Feld Entertainment, Inc.; and Jim Koch, Founder and Chairman of the Board, The Boston Beer Company.

MBA Symposium 2007 Web site

Downtown Lunch Club at Davios Restaurant: March 9, 2007

Friday, March 9, 2007
12:00pm
Davio’s
75 Arlington St. Boston MA , 02116
Cost: $25 payable at the door by check or cash

Join fellow GSM/SMG for alumni for the first Downtown Lunch of 2007 at Davio’s restaurant, owned by Steve DiFillippo, SMG 1982, who was featured in the most recent issue of Builders and Leaders. Email invite to follow. For more information, please contact Jennifer Tobin at jentobin@bu.edu or 617-353-5618.

Women’s Leadership Forum: March 24, 2007

The Women's MBA Association presents the 2007 Women's Leadership Forum, a day-long conference including panels with successful female business leaders, skill-building workshops, and ample opportunities for networking with current students, alums, and special guests. Please save the date and stay tuned for more details!

2007 Reunion & SMG Alumni Awards: May 18-20, 2007

Featuring the Golden and Silver Terriers Reception, Class of 1987 Dinner, Fire and Ice Dessert Party, Picnic on the Mall and Block Party, Scarlet and White Reception, All-University Buffet Celebration, Young Alumni Reunion Reception, 93rd B.U. Night at the Pops, 16th Annual Comedy Night, and special SMG events. Stay tuned for more details, or click to schedule a reminder!

 

Past events & pictures

GSM Reunion: October 7, 2006

Reunioners from the GSM Classes of 2005, 2003 and years ending in -1 & -6 enjoyed a weekend back at Boston University, reconnecting and networking with old friends and meeting new ones:

More GSM Reunion Photos

Dean’s Host Duck Tour: October 27, 2006

Current Dean's Hosts were treated by the staff of the SMG Alumni Relations Office to a Boston Duck Tour and dinner at Fire & Ice in appreciation for all their hard work on behalf of the School of Management:

 

Downtown Lunch Club @ The BU Club: December 15, 2006

Undergraduate and MBA alumni came together for the annual holiday lunch at the Boston University Club. They enjoyed celebrated views of the city, reconnecting with old friends, and making new professional contacts, while Dean Lataif gave an update on the School's latest achievements: (Jenn to provide photos)

Past Presidents Lunch: November 28, 2006

Retired SMG Alumni Board presidents Don Heaton and Bob Nordstrand were honored for their many years of service to the school and the University, at this luncheon hosted by Dean Lataif:

From L to R:
Peter Kelly, Assistant Dean of Alumni Relations and Development
Mark Naylor, SMG’92
Roseann Colot, SMG’80 GSM’87
Bob Nordstrand, SMG’51 GSM’64
Debby Dunphy, SMG’73 GSM’81
Pat Bibbo, SMG’57
Ruth Gallagher Murray, former Director of Alumni Relations and Development
Don Heaton, SMG’68 GSM’70

Dean's Holiday Party: December 6, 2006

Leadership donors to the School of Management Annual Fund were invited to a reception at the home of Dean and Mrs. Lataif:

The staff of the SMG Alumni Relations and Development Office get ready to greet the guests. Pictured are Jennifer Tobin, Susan Casey, Peter Kelly and Kim Purdue.

Young Alumni Committee Financial Planning Workshop: December 13, 2006

Certified Financial Planner Alex Tanguay, SMG'02, presented "Financial Management 101: Personal Finance for Generation Y," a financial management seminar geared towards the young adults. Participants learned about current financial issues and challenges, and how to ensure financial health.

 

focus on faculty

Book Buzz

Jonathan Hibbard, Assistant Professor of Marketing and Faculty Coordinator of the Undergraduate Program’s Cross Functional Core, recommends..

The Strategy and Tactics of Pricing: A Guide to Growing More Profitably, by Thomas Nagle and John Hogan

Here at the School of Management, and in particular in the Undergraduate Cross Functional Core—which consists of courses in marketing, operations, information systems and finance—we emphasize the value of thinking horizontally to break down a functional “silo” mentality. This sentiment is echoed in The Strategy and Tactics of Pricing, as Nagle and Hogan argue that one must not treat pricing decisions as tactical (functional) issues that are only relevant from one specific view (finance, marketing, sales). Rather, pricing products and services needs to be much more strategic, requiring coordination across many functional areas. In fact, more than any other strategic decision, a firm’s ability to effectively manage price most directly affects its growth and profitability.

In the Core course, teams develop a business plan for a new consumer product, and an important aspect of the project is pricing the product. We teach our teams to follow one of the guiding principles from the book—price for value—rather than using a cost-plus based pricing approach. Value-based pricing puts customers' perceptions at the heart of the process. The other two guiding principles of strategic pricing are that it must be profit-driven and proactive: meaning marketers should not merely react to competitors' pricing moves.

While these principles may appear simple, as mangers know, they can be very complicated to implement. Fortunately, the authors provide a number of real world, time-tested tools to guide these principles and more effectively price one’s products to reflect true value and generate maximum returns.

Overall, The Strategy and Tactics of Pricing provides a practical and managerially-focused guide to pricing as business strategy. The book can accommodate those looking for new ways to approach pricing, or it can provide step-by-step formulas for those performing more detailed pricing analyses.

New Faculty Research

Check out the latest faculty research from SMG's thought-leaders.

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