SOM Entrepreneur-in-Residence, Dr. Michael Witt, Guides Innovation in Alberta
As a member of the expert panel on technology commercialization and innovation engaged by the government of Alberta, Canada in the fall of 2013, Dr. Michael Witt, Entrepreneur-in-Residence and Lecturer of the School of Management, took part in creating a report that will steer the province's approach towards successfully competing in the global market.
The report, entitled Sustainable Prosperity Through Innovation, outlines six key recommendations that will form the foundation for innovation growth in the province, and played a major role in the government's decision to launch the Alberta Innovation Council.
SOM Awards $32,000 In Transfer Student Scholarships
Throughout the course of the school's history, the School of Management has forged partnerships with a number of community colleges across the state of Michigan to provide an easier transition for their students when transferring to UM-Flint in pursuit of a BBA degree.
This year, a new initiative was put in place to provide financial support to the highest achieving students from our partner schools. The School of Management is pleased to annouce that 18 top transfer students from six community colleges around the state of Michigan were awarded scholarships from the School of Management totaling $32,000 for the 2014-2015 academic year.
The School of Management proudly welcomes these outstanding undergraduate students who bring an average GPA of 3.6 and average accumulated credits of 63.
Entrepreneurs Society To Build Third Work/Live Home with HFH
Members of UM-Flint’s Entrepreneurs Society, an organization composed of School of Management students, helped Habitat for Humanity (HFH) build the first “Work/Live” house in Flint on West Fifth Street in June of 2012.
The Work/Live home contains both residential and commercial space, and provides the resident both affordable housing and an opportunity to become a self-sufficient small business owner. Now, the society will help HFH provide a third such house in the same neighborhood.
The success of the unique houses has attracted the interest of MasterCard. The company recently announced it is providing a $90,000 grant to the Genesee County HFH, and a total of $400,000 in grants to be awarded to five HFH affiliates in MasterCard target markets that will replicate the model created by Genesee County HFH and the UM-Flint Entrepreneurs Society. The five awarded affiliates will be visiting Flint in August for hands-on training.
The residents of the newest house will be small business owners Scott Hempel and Tyler Bienlein. They will soon have a new affordable space in the Grand Traverse District in downtown Flint for their tabletop gaming store, where they will work and live thanks to this innovative housing pilot.
“We are grateful to Genesee County Habitat for Humanity for their willingness to be creative and innovative in addressing the need for small business job creation, and to the University of Michigan-Flint Entrepreneur Society in making the connection and strengthening our business plan,” said Scott Hempel.
SOM’s Entrepreneur-in-Residence Michael Witt founded the Entrepreneurs Society in 2008. “We came up with the idea, along with Habitat,” said Witt. “Our management students learn how to start new businesses through this process by engaging in new company formation activities, such as conducting a needs assessment, define potential new businesses that meet those needs, recruit suitable candidates, help them create a business plan, set up financials, marketing plans, etc. We accommodate the needs of the new business and help them succeed.”
New Entrepreneurship and Innovation Management Major in 2015
UM-Flint's School of Management will introduce a major in entrepreneurship and innovation management in fall 2015.
The School of Management will also continue to offer assistance to students with entrepreneurial interests through our centers, one-on-one guidance from the entrepreneur-in-residence, and by continuing to support Entrepreneurs Society student organization.
Prof. Hemphill for RealClearMarkets - Will Tesla's Patent Policy Pay Off?
Dr. Hemphill, SOM Associate Professor of Strategy, Innovation, and Public Policy, provides perspective on Tesla's move to an "open-source" patent policy for RealClearMarkets.com.
CLICK HERE for the complete article on realclearmarkets.com.
Prof. Mark Perry on Fossil Fuels for Investor's Business Daily
SOM Alumnus John Sullivan Selected As New Treasurer of U-M
On April 1st, School of Management Alumnus John Sullivan will become treasurer of the University of Michigan. A link is below to read the complete press release on The University Record website.
Prof. Tom Hemphill for U.S. Chamber - Manufacturing Renaissance Councils: Models for Success?
Prof. Mark Perry for Investors.com - U.S. Energy Superpower Status
Mark Perry, SOM professor of economics and resident scholar at the American Enterprise Institute, provides perspective about America's Energy Superpower status for Investors.com. Read the full article here.
SOM Prof. Mark Perry's Editorial on Investors.com - Persian Gulf Oil Dependence
SOM Faculty, Sy Banerjee, to Present at MobiU2013 Summit in Chicago
Over the past seven years, Sy Banerjee, Assistant Professor, Mobile Interactive Marketing, has been researching exact details on how the location freedom of mobile is affecting consumer behavior - and what that means for marketers. This is not theoretical discussions that ad agency execs have on a conference panel. This is what is really happening. He has been analyzing little known public data and been using it to create insights into the behaviors of the mobile population. The downside is that it will inform you on just how woefully behind your marketing plan is behind your consumer. Read the complete Heartland Mobile Council article and see the conference details.
New Dean of UM-Flint’s School of Management Has Broad Agenda
The new dean of the University of Michigan-Flint School of Management (SOM) has already established a long list of goals that includes, among other items, gaining more input from community members and building the SOM brand.
UM-Flint to Host Event to Increase Impact of Internships in Michigan
Employers and educators are invited to attend an August 6 event focusing on growing internship opportunities and advancing the impact they have for students, businesses, and communities throughout Michigan.
"Intern Advantage: creating a talent pipeline through community partnerships and resources" will be hosted by the University of Michigan-Flint at the Riverfront Center. It will feature workshops designed to launch, expand, and engage new stakeholders in internship programs. UM-Flint School of Management Dean Scott Johnson will be a speaker at the event.
The Michigan Career Educator & Employer Alliance (MCEEA), a statewide collaboration aimed at creating relationships and leveraging resources for the advancement of career and internship opportunities across the state, is coordinating the event. The Prima Civitas Foundation (PCF), Michigan State University (MSU), UM-Flint, and Davenport University are among the MCEEA partners.
"Many employers are looking for ways to attract and retain talent, but aren't sure where to begin," notes Amanda Dumond-Avila, Prima Civitas Foundation's director of talent initiatives and co-creator of the Michigan Internship Initiative. "By the end of the event, attendees will have resources and information to immediately develop an internship program."
Internships are increasingly becoming important hiring tools for employers. According to the National Association of Colleges and Employers' 2013 Internship & Co-op Survey Report (download PDF), 48.8 percent of interns were later hired as employees with the companies they interned for, and 88.9 percent of those hires remained after a year. With nearly 40 percent of recent graduates moving out of the state, internships remain an important talent retention method.
In addition to workshops focusing on "traditional" internships, the event also features a presentation on working with international student interns. Speakers will include Athena Trentin from Global Talent Retention Initiative (GTRI) and Malin Clark from UM-Flint's International Center.
"Many employers could benefit from working with international students, but haven't taken that next step," said Dumond-Avila. "Our focus on international internships will demystify the process and highlight the benefits of connecting with international students."
Attendees will receive an Employer Internship Toolkit, advice on developing job descriptions from HR professionals, information about Michigan Economic Development Corporation (MEDC) talent programs, contact information for local colleges and universities, and other resources.
The cost is free but seating is limited. Registration and event information are available at EventBrite.com.
SOM Alumna Michelle Goff Named CFO of the Year by Crain's Detroit
The School of Management congratulates alumna Michelle Goff, BBA '83, the CFO and senior vice president of R.L. Polk & Co., for being awarded CFO of the Year - large private company by Crain's Detroit Business.
Goff received her BBA from UM-Flint in 1983 before continuing her education on the Ann Arbor campus. Since receiving her MBA in 1986, she has held a number of senior finance positions for large companies.
In her role as CFO and senior vice president of R.L. Polk & Co., Michelle Goff oversees more than 70 employees and a $19 million dollar budget. Her team is responsible for mapping out the future of the company's financial operations, including risk-management, securities, real estate, insurance, taxes, accounting, assets, banking, credit, and treasury activities.
The Crain's Detroit Business decision to award Goff the CFO of the Year recognition stems largely from insights she provided Polk in 2009, and the leadership role she flourished in when actions were taken based on those same insights.
In 2007, R.L. Polk & Co. invested an undisclosed sum to acquire a substantial stake in RoadToData, a Swiss automotive price and specifications data supplier with operations in 10 countries. Soon after the acquisition, Polk found itself dumping cash into RoadToData when the auto industry nearly collapsed during the economic recession. With profitability projections sliding into the distant future, Goff and other senior executives called for divestiture and a refocus on Polk's core operations.
Although there were a variety of viewpoints amongst Polk leadership team on which direction was the best option for the future, the difficult decision was made, and Goff was called on to conduct the financial and legal aspects of the RoadToData closure in 2009. "It was a great decision in hindsight," said Goff, as Polk's profitability from core operations increased 31 percent between 2009 and 2013, and projects to perform even higher in 2014.
R.L. Polk & Co. assembles comprehensive automotive sales and forecasting data. The company also provides vehicle recall services for auto manufacturers, presents annual awards and has a diversity marketing services arm. In 2012, Polk generated $401 million in revenue.
Professor Mehdian lectures at Romanian American University in Bucharest
Two years ago, the University of Michigan-Flint and the Romanian American University (RAU) of Bucharest signed a Memorandum of Understanding to work together in sharing faculty expertise to increase the quality of education for the students of both Universities.
During the Fall '12 semester, Professor Seyed Mehdian, Professor of Finance for the School of Management, became the first SOM faculty member to participate in teaching at RAU in Romania. During his visit, Professor Mehdian delivered several iterations of his lecture titled "Financial Management Issues" to RAU students and faculty.
Professor Mehdian is seen in the image above with Dr. Ovidiu Folcut, the Rector of Rau, Mrs. Despina Barbieru of the Office of International Relations (RAU), and students who attended Dr. Mehdian's lectures.
SOM Student, Amanda Nielsen, One Of The First Interns At New Landaal Packaging In Burton
FLINT, MI -- Amanda Nielsen had her sights set on Chicago for an internship.
That was before the Grand Blanc resident and University of Michigan-Flint student met with Burton-based Landaal Packaging Systems about an opportunity.
While the Windy City is still on the minds of Nielsen's friends, she said Vehicle City is looking like the better choice.
"A lot of people want Chicago, I wanted Chicago at first, but I like it more here now," she said.
Nielsen will be part of the staff moved Jan. 2 to Landaal Packaging's new offices at 540 Saginaw St. in Flint.
It was announced in June that Landaal Systems would open its "innovation center," in Flint, relocating its design and marketing teams to the offices.
The center will employ about 10 people and company officials have predicted two new sales and marketing positions could be added as part of the expansion.
"The two main goals of that office for us was a commitment to help with what's going on," said Robert Landaal, vice president of sales and marketing for Landaal Packaging. "Our family believes our downtown is well on its way back.
"The other piece is to provide a great environment for our creative teams and our marketing folks that will absolutely without a doubt foster innovation and creativity as we look to grow in other markets."
Three seats at the center will be made available for students studying packaging, graphic design and marketing.
The internship opportunities could result in full-time positions, depending on the level of talent and ability.
"We are growing our marketing department and ... after the first of the year, we'll be meeting with MSU's school of packaging to formalize a program with them," Landaal said. "There's a couple of schools that have pretty good graphic arts programs, U of M-Flint, Baker, Cornerstone (University)."
The center will also help bring awareness to the packaging industry, as well as keep talent from leaving the state, he said.
Keeping and attracting young professionals has been a target in recent years for many business leaders, universities and politicians.
The U.S. Census Bureau in 2010 found there are about 283,916 people who are 25 years and older living Genesee County.
According to the bureau, 34 percent, or about 97,779 of those individuals, are high school graduates. Twenty-six percent, or 73,870 people, have some college experience, but no degree.
The bureau found 8 percent, or 24,539 people, have an associate's degree and 12 percent, or 34,962, have a bachelor's degree.
Six percent, or 19,108 people, have obtained a graduate or professional degree of some kind.
"We sometimes see students educated here and, even in Genesee County, can't find employment or want to seek out other areas," said Landaal, adding they want to position their family-owned company to attract talent coming out of area schools.
"We want to show there are some cool things going on in our organization and it's going on right in downtown Flint," he said.
The internship opportunity has been great for Nielsen, who said she's learned how larger companies function and how the sales people interact.
"I think a lot more people are moving downtown, a lot more businesses are moving down there," she said of Flint. "I think it will build the cultural area and definitely the college part of it, too."
SOM Students Win Oakland University International Case Competition!
Congratulations to UM-Flint School of Management students, Todd Ackerman, Alex Benda, George Joubran, and Logan McGrady, for winning the first ever Oakland University International Case Competition!
In February, the Oakland University School of Business invited teams of top undergraduate students from more than 200 highly respected international academic institutions to take part in their International Case Competition (OUICC). Aimed at building and practicing teamwork and leadership skills, the competition consisted of three elimination rounds of judged case presentations, with prizes and awards going to the three finalists.
In the initial round, all participating teams were required to submit a video presentation and case summary to the OUICC judging panel by email. From all the first round submissions, only 12 teams were selected to advance to the next stage of competition. In round two, the teams delivered their presentations via interactive live feeds, and were required to defend their strategies and arguments during Q&A sessions with the OUICC panel of judges.
Then with only twelve hours between rounds two and three to make improvements based on Q&A feedback, the top three teams made their best case in the third round. In the end, the School of Management student team's presentation won the day and took home the first place award.
Congratulations again to our outstanding students - Todd Ackerman, Alex Benda, George Joubran, and Logan McGrady!
UM-Flint Opens New Transfer Advising Office at Mott Community College
The University of Michigan-Flint will have a new presence at the Mott Community College (MCC) University Center (located in the Mott Memorial Building), where MCC students can get in-person information and advice about UM-Flint.
UM-Flint will staff the new space Monday through Friday during normal business hours. On occasion, special events may extend past normal hours. Staff from UM-Flint's Office of Undergraduate Admissions and School of Management will handle the operations of the new office.
Mott students who seek to transfer to UM-Flint upon completion of their associate degree can receive advising service. Advising will also be provided to students in the newly established Mott2UM-Flint Concurrent Enrollment program.
The presence of UM-Flint admissions advisers at MCC University Center facilitates a much smoother transfer process for Mott students who wish to transfer to the University of Michigan-Flint. It enables these students to seek quality advising about UM-Flint academic programs and their degree requirements.
"We are extremely grateful to President Dick Shaink and Vice President Amy Fugate for their support, particularly in allowing UM-Flint to have a presence at the University Center where Mott students will have more convenient access to UM-Flint staff," said Vahid Lotfi, Senior Vice Provost for Academic Affairs and Dean of Graduate Programs.
ABC12 News interviews Dr. Vahid Lotfi about Princeton Review recognition of UM-Flint
The School of Management is in the new 2013 edition of the Princeton Review's annual guidebook, "The Best 296 Business Schools." This latest recognition comes less than a month after SOM was named one of the Best Undergraduate Business Programs in the Midwest by U.S. News' "Best Colleges 2013."
UM-Flint Entrepreneurs Society Wins National Awards
(Chicago, Ill) The Entrepreneurs Society of the University of Michigan-Flint received special recognition and honors in two categories last week at the National CEO Conference. This premier event, in Chicago, featured three days of meetings, workshops and competitions (www.c-e-o.org) where the best universities compete in a number of categories. Out of 130 universities and more than 1400 students, representatives from University of Michigan-Flint placed 2nd in two categories: Best Fundraising Event, and Best Chapter Leadership.
Gannon O'Reilly, Chapter President, was honored as one of the best CEO leaders in America. His efforts at leading the Entrepreneur's Society for the 2011-2012 year featured such innovations as the Work/Live Space launch in June, in partnership with the Flint Habitat for Humanity. This new business initiative was the first of its kind and is leading the way in urban re-development initiatives.
Another Entrepreneurs Society Member, Brooke Dziurman, led UM-Flint to the second place prize for the best fundraiser. This monumental effort resulted in $32,000 being raised and donated to a severely ill person battling brain cancer, all done in a 5 week period.
The Entrepreneurs Society was formed in 2007 as an academic club at the School of Management, University of Michigan-Flint. It presently has 109 members and a number of involved alumni and supporters in the greater Flint community.
UM-Flint Featured in the Princeton Review's "Best 296 Business Schools: 2013 Edition"
The University of Michigan-Flint School of Management (SOM) is an outstanding business school according to the education services company The Princeton Review.
The School of Management is in the new 2013 edition of its annual guidebook, "The Best 296 Business Schools." This latest recognition comes less than a month after SOM was named one of the Best Undergraduate Business Programs in the Midwest by U.S. News' "Best Colleges 2013."
"We consider UM-Flint's School of Management one of the best institutions a student could attend to earn an MBA," according to Robert Franek, Princeton Review Senior VP-Publisher. "We selected the schools we profile in this book, 280 of which are in the U.S.A. and 16 are international, based on our high regard for their academic programs and our reviews of institutional data we collect from the schools. We also solicit and greatly respect the opinions of students attending these schools who rate and report on their experiences at them on our 80-question survey for the book."
The Princeton Review's survey asked 19,000 students at the 296 schools their opinions of their school's academics, student body and campus life as well as about themselves and their career plans. The student surveys analyzed for this edition were conducted during the 2009-2012 academic years.
"We are very pleased to have been recognized by Princeton Review in their 2013 annual guide book of Best Business Schools. This recognition succinctly reflects the quality of our academic programs. It could not have been achieved without the dedication and hard work of our faculty and staff," noted Vahid Lotfi, senior vice provost and acting dean of SOM. The recognition is also partly based upon feedback from our students, many of whom face complex lives. We are truly proud of them."
Some of the comments from students attending SOM in the profile include: "If you are looking for a 'prestigious top school for management' that offers a great deal of 'flexibility,' then consider the University of Michigan-Flint School of Management. The MBA program is 'very structured and organized.'"
SOM's Young Entrepreneurs
Two young entrepreneurs from the School of Management launched a successful website, mylifesecret, which already have postings from 10 different countries, and more than 900,000 page views since May 2012. Philip Pirkovic graduated with a dual degree in business management and economics. His brother, Saso, will graduate from the School of Management at the end of this year. A fellow School of Management marketing graduate, Taylor Hinds, designed the branding and graphics. The website provides a safe outlet for individuals to express themselves and seek out help when they have nowhere else to turn. The rates of cyber bullying, depression and suicide are skyrocketing among the young individuals. The two brothers found this unacceptable and wanted to make a difference. They are donating 20% of proceeds from their shirt sales to the National Suicide Prevention Lifeline. In the coming year, they plan to start the My Secret Life Foundation to combat bullying, suicide and depression alongside a mobile application.
Philip and Saso feel very strongly about the revitalization of the struggling economy in Flint, and they want their ventures to reflect this sentiment. The School's Associate Dean, Dr. Yener Kandogan, says "It is this kind of entrepreneurial activity that provides the best hope for the region's economy." The brothers are looking at office spaces in the up and coming downtown corridor of Saginaw Street in Flint. All promotional printing is also done in the Flint area.
SOM Partners with Citizens Bank for Internship Program
The School of Management is partnering with Citizens bank to offer an internship program. The interview process for the program was held in April with ten students chosen for internship positions. Students with majors in Accounting, Finance, International Business and Marketing will participate in the intense training program May 14 through September 1.
Click here to read more from University of Michigan-Flint News.
Click here to read the article featured on MLive.
Dr. Brian Blume Receives the UM-Flint Scholarly and Creative Achievement Award
Brian Blume, Ph.D., Assistant Professor of Organizational Behavior and Human Resource Management was presented with the Scholarly and Creative Achievement Award. This awardrecognizes outstanding faculty performance at the University of Michigan-Flint. Dr. Blume was nominated for the award by other faculty members of SOM. He has served as faculty at SOM since 2006. Brian is an active member of the Academy of Management organization and serves on multiple committees for the School of Management.
Michelle Tolin Received the Detroit Chapter of the Institute of Internal Auditors Scholarship Award
Michelle Tolin, a BBA alumn was presented with the Detroit Chapter of the Institute of Internal Auditors Scholarship Award. Qualified candidates submitted a three-page essay on the following topic: Discuss the benefits of using social media in the internal audit process and provide specific examples.
Michelle is the first student from U-M Flint to submit an essay. Michelle received a bachelor's degree in business administration with a concentration in Accounting and a GPA of 3.81. She is the national reporter for Beta Alpha Psi and will be the incoming Treasurer. She is also a member of Beta Gamma Sigma. She also volunteered with VITA and various food banks.
Dr. Mark Perry Testifies Before the U.S. House of Representative's Committee on Oversight and Government Reform
SOM Professor of Finance, Dr. Mark Perry, was invited to testify in front of the U.S. House of Representative's Committee on Oversight and Government Reform hearning on May 31, 2012 on the topic of "Rhetoric vs. Reality: Does President Obama Really Support an "All-of-the-Above Energy Strategy?".
Click here for Dr. Perry's full written testimony.
New Master of Science in Accounting Program Being Offered
The University of Michigan-Flint School of Management (SOM) is excited to offer a Master of Science in Accounting (MSA) program for graduate students. The MSA program is designed to successfully prepare students for advanced careers in accounting. The MSA program enables students to fulfill the 150 credit hours required to become a Certified Public Accountant (CPA), and prepares them to successfully complete the exam. Students will graduate from the program with a superior understanding of accounting concepts and procedures.
"We look forward to offering the Master of Science in Accounting program at the University of Michigan-Flint. We're excited about enhancing our program offerings to prepare students to become certified public accountants as well as work in other rewarding careers in accounting and business," states Dr. Keith Moreland, Professor of Accounting.
The MSA program is taught in the NetPlus! format. NetPlus! is an innovative, mixed-mode program that blends the personal interaction of traditional classroom activities with the anytime, anywhere convenience of modern online learning making it accessible to busy students from a wide range of geographic areas. Applications are now being accepted for Fall 2012.
For more information on the MSA program click here .
International UM-Flint School of Management MBA Team Captures First Round Victory in the Association for Corporate Growth Chall
On Saturday, January 28, 2012, three teams of MBA students faced-off against each other by presenting their analyses of a merger and acquisition case to an expert panel of M&A professionals during first round of the ACG Cup competition.
In what was called, "the best and closest competition in its three year history at UM-Flint" by lead judge Michael D. Malaga the team consisting of Xiaoyi Chen, Jaylen Etefia, Damir Galic, and Masih Siddiqui pulled out a narrow victory over their competitors.
"It was quite suspenseful," noted professor Dale Tuttle, "as the panel of judges deliberated for nearly an hour before returning" to one of the new case rooms in the Riverfront Center where this year's competition was held. "All the teams did a great job with both analyses and presentations. Knowing everyone had put so much effort into the process, it was a bitter-sweet moment when the winners were announced."
Along with the satisfaction of winning, Xiaoyi, Jaylen, Damir and Masih will share a $1000 scholarship and go on to represent UM-Flint's School of Management on February 11 during the regional ACG Cup Championship to be held at Wayne State in Detroit. Our students will be competing against teams of MBAs from UM's Ross School, MSU's Broad School and others as they vie for the $5000 first prize scholarship.
Tuttle noted that this year's competition was part of a two-pronged approach to qualifying the MGT 589 Strategic Management MBA capstone course as a civically engaged course. "Aside from providing students with a very realistic case study judged by highly experienced professionals, each team was provided with three hours of mentoring over a two-week period by a member of a M&A professionals group. This kind of exposure is invaluable in preparing our students for successful careers post graduation." In addition to the ACG Cup, MGT 589 students will taking part in a Community One project, analyzing the competitive positioning of a local business, meeting with its owner, and presenting their findings and recommendations at the end of the semester.
"It's an exciting outcome to see a diverse team of MBA students representing China, Croatia, India, and the U.S.A. coming together to achieve success."