McCombs Alumni Network News

With the Toyota recalls dominating headlines across the globe, Sridhar Seshadri–a professor in the McCombs School’s Department of Information, Risk, and Operations Management, and Daniel Laufer (MBA ’94, PhD ’04)–an expert on crisis management and associate professor of marketing at Yeshiva University, weigh in on the situation.

Seshadri, along with Ananth Iyer and Roy Vasher recently published, “Toyota’s Supply Chain Management: A Strategic Approach to Toyota’s Renowned System.” In a recent post on McCombs Today, the authors discuss the current troubles at Toyota as a test of the company’s supply chain process:

Toyota, the most venerable manufacturing corporation in the world, appears to have stumbled. Is this a simple misstep or is this a systematic failure?

In our book on Toyota, we identified five principles that drive supply chain design at Toyota: the choice of volume, variety, variability, velocity and the use of learning, or V4L for short. In addition, we devote a chapter that outlines Toyota’s crisis management process.

One wonders which of the V4L factors that have changed recently — the sudden growth and swings in volume, rapid increase in variety offered beyond the vanilla Camry and Corolla, demand swings accompanied with significant pressures to stay profitable or the expansion of the workforce without a 100 percent adoption of the Toyota culture — have resulted in stress on the supply chain.

Read the full article, “Toyota Recall Tests the Company’s Legendary Supply Chain Process,” on McCombs Today.

On CNN.com, Laufer offers suggestions on what Toyota should do next:

Despite the serious crisis Toyota is facing– which has now been exacerbated by Transportation Secretary Ray LaHood’s statements to a House committee on the need for consumers to stop driving the recalled cars– the company can still emerge and reclaim its position as a leading automaker. To do so, it must act swiftly and decisively.

First, the company needs to convince consumers that the problem has been solved– that its cars are safe and reliable. Both the U.S. government and safety experts have now raised concerns about the car’s electrical system. Toyota now needs support from outside parties, such as safety experts who are perceived by the public as more credible than Toyota itself, that its solution actually is the right one. Their endorsement of Toyota’s actions will go a long way in reassuring the public.

Read the full article, “Confusion Over Toyota Accelerates,” on CNN.com.

Peter Schwarz (right) with marquee client Ray Benson of Asleep at the Wheel

 For our February alumni spotlight, we’re featuring an article by Peter Schwarz, MBA ’01. Peter is the business manager for Ray Benson and Bismeaux Records, Productions and Studio, home to Asleep at the Wheel, Carolyn Wonderland, The Texas Tornados and the stage production “A Ride With Bob: The Bob Wills Musical.” His is the latest installment of Ask the Expert from Texas Magazine. Peter answers the question: what does it take to run a successful music business?

There’s the old joke about the kid who tells his dad that he wants to be in the music business, and Dad warns, “Son, you can’t have it both ways.” It is no secret that lifestyle choices compel long-term commitment to the music industry more than anything else (which is another way to say that the biz is made up of a select few people who just can’t bring themselves to do anything else).

Yet I’m happy to report that there are ways to sustain profitability in music. The following are a few of my lessons learned.

Set modest goals. In a winner-take-all industry, to provide a middle-class living for your employees year-in and year-out is a major feat. That will attract amazingly talented musicians who won’t wander off.

Understand your product. If you think it is a CD, then you are up against a profoundly over-saturated marketplace. But if it is “six people who know how to write and perform songs together,” then you have a lot more opportunities to explore.

Be willing to change direction quickly to find the cash. In eight short years, our team here has created a record label, a publisher, an academic training facility in our recording studio, a symphony, a Broadway-scale musical, a voice-over and jingle-writing service, and even a bar at the Austin airport.

Visit Texas Magazine to read the full story and download a free mp3 of “Hesitation Blues,” the lead track from the Grammy-nominated “Willie and the Wheel” album by Willie Nelson and Asleep at the Wheel (only available until Feb. 28).

Uncertain economic times create pressure for your business to come up with the right answers and strategies for success. Texas Executive Education’s open enrollment programs are designed to help you achieve results and manage change in a complex business environment. Upcoming courses include:

• Energy Finance, Feb. 20
• Advocacy: Championing Ideas and Influencing Others, Feb. 25-26
• Entrepreneurial Marketing, March 11-12
• View the full 2009-2010 course calendar

For more information, visit Texas Executive Education online or contact their office directly.

From the TimesRecordNews

Melanie Rae Rodriguez and Joe Kenneth Taylor were married Dec. 24 at the Warwick Melrose Hotel in Dallas. Gregory Hanson officiated.

Parents of the couple are Albert and Linda Rodriguez of Wichita Falls and Mr. and Mrs. Kenneth M. Taylor of Karnack, Texas. The bride is the granddaughter of Mrs. Pablo Rodriguez of Wichita Falls.

The bride and groom were hosts for a reception following the ceremony.

The bride is a graduate of Notre Dame High School and attended Texas Christian University, where she was a member of Alpha Delta Pi Sorority. She works in administrative support for Hazen Transport.

The groom is a graduate of University of Texas Red McCombs School of Business. He holds a master of business administration degree in international business from Amber University and a law degree from Texas Wesleyan University School of Law. He was a member of Acacia Fraternity and served on the Law Review at TWU. He is a member of the U.S. Tax Court Bar, the American Bar Association, the American Institute of Certified Public Accountants and the Texas Society of CPA. He is firm director of state and local tax services with Weaver, LLP.

The couple took a wedding trip to Ka’Anapali, Maui, Hawaii. They live in Austin.

From BusinessWeek

Last year, one of my best friends at McCombs introduced me to the concept of FOMO. In common parlance, it is used as a noun. For example, one might say: “I am having major FOMO about going out of town this weekend.” FOMO stands for Fear of Missing Out. Once I learned the concept, I realized I was a lifelong sufferer of FOMO. Like many MBA-types, I sign up for more things than I can possibly attend and wish I could be everywhere (except maybe at an advanced accounting course) because I’m always worried I’ll miss out on something.

While FOMO has been a constant companion of mine, it has never been as powerful as it is right now. Most of my MBA colleagues agree that the first semester of the second year of business school is by far the busiest and most stressful. A lot of this stems from the fact that we now hold ourselves to a higher standard. As second years, we have leadership obligations to the program. First-year students are counting on us to plan competitions, social events, and treks to continue the legacies of our student organizations and to provide advice and mentoring, just as last year’s second years did for us. Read the full story.

This year’s conference brings together current female MBA students and successful women in business to discuss how to develop and enhance your personal brand. Esteemed speakers and panelists will share their stories of trials and success with individual branding at various personal and professional milestones. The half-day conference will equip the rising generation of female business leaders with savvy to navigate personal brand evolution for life.

Through an exciting group of panelists and keynote speakers, the WBLC aims to:
• Improve the visibility of women in the McCombs School of Business.
• Provide support, insight and advice to women of McCombs.
• Provide a networking event for current female students, alumni and sponsors.
• Assist organizations serving women in our community.
• Provide relevant, educational material for women in a recessionary economy.
• Promote a spirit of camaraderie among our members and women in the business community. Read More…

Who: McCombs MBA Alumni
When: March 9, 12-1 p.m. CST
Where: Webinar
Presenter: Reuben McDaniel

RSVP Today

Increase your knowledge of global business issues through the March McCombs Knowledge To Go webinar with Professor Reuben McDaniel!

KTG gives McCombs MBA alumni the ability to continue their active learning relationship with the university through 1-hour webinars on the 2nd Tuesday of the month at noon CST. You’ll get a chance to learn about today’s most urgent business issues from the leading minds at McCombs at your desktop.

Reuben McDaniel is the Charles and Elizabeth Prothro Regents Chair in Health Care Management in the Department of Information, Risk, and Operations Management. He received his B.S. from Drexel University, his M.S. from the University of Akron and his Ed.D. from Indiana University. McDaniel has been a member of the university’s faculty since 1972 and his research and teaching interests include healthcare management, strategic management, organizational design and policy analysis. Register now and view other Knowledge To Go webinars.

From Running Commentary by Trent Thurman, MBA Alumnus and Director of the Texas Evening MBA Program

By my count, I’ve conducted 547 interviews for the various Texas MBA programs since I returned to McCombs in 2005. At roughly an hour each, that’s almost 23 full days of interviewing. I’ve met many great people and heard countless fascinating stories. It’s honestly one of the best parts of my job. 
 
I’m often asked by current students and alums if I remember their particular interview. Most of you guys know me well enough to guess that I usually respond with an enthusiastic yes, even though the truth is that many of these interviews-–the faces and the stories-–collide into a mosaic of dark business suits and lofty career goals. Let’s just say it’s a good thing I take detailed notes.
 
Every now and then though, I’ll remember an interview in its totality. One of those was with Keith Bilski, a 2008 Texas MBA at Houston graduate. At the time of the interview, Keith was transitioning into a career in commercial real estate and I was just coming off my ten-year stint in that very industry. 
 
I vividly remember our animated discussions about real estate investment. I further recall Keith’s confident response to my question about his long-term goals and dreams. He fully intended to open and build his own real estate investment and development firm. The MBA was the next logical step in that journey. I referenced these goals in my write-up and noted that Keith had the “determination and drive” to achieve them.

If interviews are difficult to remember, then essays are next to impossible. I’ve read thousands of essays over the last five years and can probably count on my fingers the ones I can now link to a certain person.  One of those rare essays was penned by Neil Martin, one of Keith’s classmates in the Texas MBA at Houston program. Read the full story.

Where: University Club of New York, One West 54th Street, New York, NY 10019
When: Thursday, Feb. 11 (6:00 p.m. Registration and light refreshments, 6:30 p.m. Panel discussion and networking reception)
Cost: $10 per person. Advanced registration is requested

The overhaul of the U.S. health care system has prompted a heated national debate and many questions remain unanswered. Are all U.S. citizens entitled to health care coverage? If so, who will pay for it and how? If not, who should have health insurance? How will proposed regulatory changes impact our medical institutions?
 
Join University of Rochester alumni, parents and friends at the University Club in Manhattan as we propose answers to some of these questions. The evening will feature a panel discussion moderated by Simon School Dean Mark Zupan. 

Click here to register!

Distinguished Speakers Include:

• Bernard Ferrari, Chairman, Ferrari Consultancy, Former Director and Partner, McKinsey & Company
• Steven I. Goldstein, President and Chief Executive Officer, Strong Memorial and Highland Hospitals
• John Mosley, Senior Vice President of Strategy and Business Development, Spectrum Health
• Gerard J. Wedig, Associate Professor of Business Administration, Simon Graduate School of Business

Please e-mail advance questions for panelists here.

When: Feb. 23, March 2 and March 9, 12 noon or 6 p.m. CST
Where: Webinar
Cost: $75

Are you as successful leveraging your network of contacts as you could be? Are you confidently engaging with your network, in a style that fits your personality and style? Do you have a networking plan that promotes your success? Join alumni from other major business schools–including Berkeley’s Haas, Indiana University’s Kelley and University of North Carolina’s Kenan-Flagler, to go beyond the basics of networking to mastering the principles, strategies and tools that will help you succeed now and far into the future.

In Networking Naturally, a three-part webinar series presented by Carol Ross, experienced career coach and social entrepreneur, you will learn to create and nurture the connections needed to thrive in difficult times. Through Networking Naturally, you will interact in a variety of ways (including social media) and test a variety of approaches, all while staying true to your personal style.  

Click here to register!

Session topics include:
• Avoid Common Traps in Networking
• Create Meaningful Conversations and Develop Lasting Connections
• In-Person + Online Networking – Put it All Together Read More…