Students Take Fourth Place in a Non-Profit Case Consulting Competition

BHP students Robert Ma, Thomas Pigeon, Jane Tedjajuwana and Shannon Wey took fourth place at the McDonough-Hilltop Business Strategy Challenge at Georgetown University in Washington, DC this month. Twenty teams competed, 11 from the U.S. and nine international, in this unique non-profit case consulting competition. This year’s case centered on expanding job opportunities available to members of the National Institute for the Blind (NIB).

MCC

From left: Jane Tedjajuwana, Robert Ma, Thomas Pigeon, Shannon Wey

“The main goal of NIB is to help the blind become independent personally and financially. Our job in the case competition was to find ways for the NIB to open up job opportunities not only within the federal government, but in the private sector and in the service industries,” said Shannon Wey.

The team presented a three-pronged solution which involved starting an internship program allowing blind people to get a foot in the door with employers, building a stronger network of partner companies across the nation, and implementing a talent showcase open to companies to show what blind people are capable of with current assisted technologies.

The unique emphasis on non-profit organizations altered the way the students view not-for-profit work, “We realized all the different obstacles that are placed in front of a non-profit, be it people’s biases against the people the organization is trying to serve, to limited opportunities, to financial restrictions,” said Thomas Pigeon. “It gives you a greater appreciation for how they maximize every dollar they are given.”

“Non-profit put such a huge twist on it. I’ve done six or seven case competitions and this is the one I’ve enjoyed the most because the nature of the case made if feel more fulfilling because I felt like I was contributing to a greater cause,” said Robert Ma. The students were also able to dedicate more of their efforts in areas, which may not receive as much attention in typical business case competitions. “Because it’s a nonprofit we didn’t just focus in on revenue,” said Jane Tedjajuwana. “We didn’t look at the financial projection at all in the first round because they just wanted to hear our ideas and gage how realistic it was because ideally they wanted to be able to implement the solution.”

The team also enjoyed meeting other competitors from outside of the U.S. and hearing their global perspective on the case. “It provided a really unique experience for all of us. We appreciated how international it was. We met people from Hong Kong, Australia, Germany and Singapore,” said Robert Ma.

After taking a closer look at non-profit organizations, all of the team members said they would now definitely consider working with non-profits after college.

The trip was not all work. The group managed to find time to visit the Washington Monument, Lincoln Memorial and made sure to make a pit stop at Georgetown Cupcake.

 

BHP Sophomore Recognized For Outstanding Leadership Across Campus

CharlieAComing to UT was an easy decision for sophomore Charlie Adkins. Bleeding orange since birth, Adkins grew up watching Vince Young take the national title and cheered on the Longhorns in every sport possible. When asked why he came to McCombs Adkins replied, “McCombs is the best business school in the Southwest. BHP offers me smaller classes and I’m around the brightest individuals I’ll ever meet. Being around driven people pushes you to take on things you initially wouldn’t have.”

Adkins was most recently chosen as the only sophomore recipient of the Texas Exes Presidential Leadership Award, an award that recognizes undergraduate students who have demonstrated outstanding leadership within the student community at The University of Texas. “I am incredibly honored and humbled to receive the Texas Exes Presidential Leadership Award,” said Adkins. Six students are chosen annually from the UT student body to receive the award.

Adkins has been an outstanding student and shown stellar leadership across campus, especially in McCombs. He has been heavily involved with the Undergraduate Business Council (UBC) as chair for the VIP Distinguished Speaker Series, which hosts interviews with CEOs of Fortune 500 companies. “UBC represents students and it’s something I really enjoy doing,” said Adkins. “The Speaker Series allows CEOs to see how high caliber our students are, and encourages them to come back to donate and recruit.”

Along with UBC, Adkins is also part of Student Government and has been appointed director of the 2014 Longhorn Run, a 10K race that raises over $25,000 for the Student Government Excellence Fund, which benefits student organizations. “This year, I am looking to grow Longhorn Run and cement its place on campus as a UT tradition,” said Adkins. “Longhorn Run is a unique way for students to give back to other students.”

Adkins is interested in the sports industry and was a marketing intern with the Round Rock Express last summer. After earning his degree in accounting, Adkins hopes to go into baseball operations and manage an organization. When asked where he sees himself in his future career, he replied “Texas forever.”

Annual HBA Company Field Trip Brings Students to Washington D.C.

CFT 2014

Written by Jace Barton

Four days. 23 students. Three companies. Good memories? Too many to count.

The Honors Business Association recently traveled to Washington D.C. for its annual Company Field Trip. A broad mix of students, from freshmen to seniors, marketing to finance, took advantage of an incredible opportunity to network with executives at top companies in the city while learning more about the non-traditional doors a McCombs major can open.

The first company visit was to Marriott. We toured sample rooms from six of Marriott’s brands and learned about the intricate process behind crafting the perfect hotel rooms. We also gained insight to the subtleties of hotel branding, and how even the smallest details can make a difference in guest experience. The Marriott visit also included a tour of the Innovation Lab, where Marriott is testing new designs to place itself at the cutting edge of the hospitality industry. The visit concluded with a quick tour of the rest of the headquarters building and a question-and-answer panel with two Longhorn alumni.

Thursday night, the group was treated to even more alumni interaction through the annual Alumni Dinner. Four local BHP alumni joined us at the Texas-themed Rhodeside Grill. We chatted with the alumni to enquire about their career paths and gathered advice on fun classes to take and quirky hole-in-the-wall restaurants to try. With outstanding food and even better company, the night was a treat for all involved.

Friday started with a tour of the White House. While not all of us have political ambitions, it was hard not to fantasize about one day calling 1600 Pennsylvania Ave. home. After the White House, we trekked to one of Lockheed Martin’s Advanced Technology Laboratories. Various company executives talked to us about multiple facets of the company’s business, including aerospace & defense, space, and information technology. At the end of the visit, we took turns piloting Lockheed Martin’s F-22 and F-35 simulators. While no student has voiced intent to leave the Business Honors Program to become a fighter pilot, several were tempted!

Friday concluded with a visit to the Central Intelligence Agency. We were treated to a tour of the Main Hall and museum, where the history of the agency is illuminated through photographs, artifacts, and exhibits. After the tour, two officers from the Agency’s recruiting division talked to us about how business majors make an impact in the CIA. We departed extremely impressed with the level of excellence the CIA attains. We would tell you more, but we’ve been sworn to secrecy…

Saturday, we started the day with a tour of the Capitol. Following this, we broke off into small groups to explore all Washington D.C. has to offer. Popular destinations included the Newseum, the National Zoo, several Smithsonian museums, and many of the national monuments.

Sadly, the trip needed to end sometime, and the group returned home Sunday. While the trip was finite, we all knew that the memories of good times with great friends in an amazing city would last forever.

Barton

Alumni Spotlight: Cindy Lo – Owner of Red Velvet Events, Class of 1998

Cindy Lo, BHP ’98, was the McCombs BBA commencement speaker this past weekend. Cindy was also honored with the McCombs Rising Star Award this year, which is given to only two McCombs alumni annually who have been successful professionally, and have helped strengthen the McCombs Alumni Network. Cindy is the owner of Red Velvet Events, a full-service event management company based in Austin. She is also extremely involved in UT and her community. We were happy to chat with her recently about her career path and lessons learned along the way.

Tell me about your career path leading up to what you are doing now and what prompted you to change from consulting to event planning.

When I was at UT, I started as a BHP and accounting major, but I did my first internship with one of the big accounting firms and realized it wasn’t for me. That prompted me to switch to BHP and MIS as I always had fond memories of my computer science class back in high school. I graduated in 1998 and worked for a startup software company called Trilogy Software. When I started in my career, I thought I was going to go down the traditional business path, which is work your way up, then go to graduate school and continue down the executive track, but then it all changed. Working in a startup environment, I learned so much and I no longer had the desire to go on to get my MBA. I was at Trilogy for five years. When 9/11 happened, the company saw a shift in client’s pausing their existing contracts, so an opportunity came up for me to take a leave of absence without immediately affecting my employment status. I took advantage of this leave of absence option, and during that time reflected on what I wanted and realized I wanted to get into events and meeting management. I had difficulty getting hired to do what I do today because I didn’t have any formal background in this industry. I thought about starting my own event planning business, but was very hesitant because I knew how much work that would take. I had just come off of working 80-100 hour weeks and I wasn’t sure I wanted to do that again. Out of necessity, I did end up starting my own company because no one would hire me. I put together my business plan with the intent of going to work for someone else after I had some experience. That never happened because surprisingly the business took off. I would never have guessed that this is where I would be.

Describe the services offered by Red Velvet Events.

We offer full service event management. We will pair you up with the best caterer, florist, hotel, etc. We are the event architects. We help design your event program and manage all the details. We make sure everything happens the way you had envisioned. We do it all.

You started your company as a one-woman show and now have a staff of 13. Tell me about the growth of your company and what plans you have for the future of Red Velvet Events.

We have seen the most amount of growth in the last six years. We are bringing on three more in January 2014. In 2007, we started really aggressively growing our company (yes despite the downtown turn in the economy in 2008). Destination management and graphic design became a core part of our company during that time. I have another idea I am trying to launch in the next two to three years, but I am not ready to talk about it yet. I will stay true to events though.

In your industry I would imagine that innovation and creativity are very important. How do you encourage innovation and creativity amongst your staff and yourself?

Yes, they are important. I always ask my team to look around them and be a tourist in their own city. Look at things that are influential. When TV shows are a big hit, clients start wanting to incorporate them into their events. Knowing how to spot the trends and hits early is the key. Always be hungry and looking for ideas. I try to read as much as I can so I can stay on top of what is going on. Travelling internationally has also been great to get new ideas.

Are there any events you have planned that really stand out to you or that you are most proud of?

I have some favorite corporate, social and other events that stand out because they were just really challenging and in the end, we were excited we pulled it off. A client came to us once with a very simple idea and we made it a huge production. They wanted Santa Claus to come to their house to take some photos, but I turned it into something more elaborate and we basically turned their house into the North Pole. We did it all with only one week’s notice. I like to push the envelope to see where they want to take it, but we don’t push beyond what they want to do. I always want to bring the wow factor.

What would you say are the top 3 lessons you have learned as an entrepreneur.

1) If you think you have communicated enough, you haven’t. Never think you have over communicated.

2) Always be learning. You may think you know what to expect, but new problems come up every day. I am always pushing to see what I could have done to be better. If you think you are done learning, you need to move on to another career.

3) Always be thankful. Tell people you appreciate them, no matter how busy life gets.

What do you love most about what you do and what do you find the most challenging?

It is so rewarding to see my team grow both professionally and personally. It is a great feeling. I also enjoy seeing the event come to life; being able to put it all together and pull it off. I love seeing the end result and love the challenges that come with it. It is problem-solving and creativity rolled into one.

Your company was selected by the Austin Business Journal as one of the best places to work this year. What sets your company culture apart from others and what did that honor mean to you?

I have to thank my team for nominating the company. I felt very touched that my team took it upon themselves to do that. As far as the culture, we are very open office. If there is something bothering them, they can come to me and tell me. I am trying to take care of our team so that they take care of the clients. For example, we pay full medical benefits for everyone. They shouldn’t have to worry about that. I want them focused on our clients’ needs, and not worried about things like paying for medical coverage.

How do you think BHP prepared you for what you are doing now?

The teamwork we practiced in the classroom was really beneficial. It was useful to learn to work with different personality types. We were required to take all of the different business courses, which helped me a lot because I had to do it all when I started the business. The networking skills helped me find people who could help me along the way. I couldn’t have asked for a better network. It also taught me to be goal oriented and break down big goals into small chunks.

You just received the McCombs Rising Star Award, honoring your professional accomplishments, as well as your commitment to the McCombs Alumni Network. Tell me more about your involvement in UT and McCombs and why you think it is important to stay connected.

I started giving back because I was one of the lucky few who got a full-ride to UT. I wanted to pay it forward. The more involved I got, the more I realized it was good for not only my business but also help me with my soft skills. I served on the MIS Advisory Board, then the university’s 1883 Council, which then led to getting involved with the Forty Acres Scholarship Board. I love meeting the new students and seeing how driven they are. Giving back is very important to me. I value education and want to help in that realm. I know who made it possible in my life to receive the education I did and am so grateful.

What advice would you offer current BHP students?

Take the time to enjoy school. Get involved with the things that you love doing. Do something non-academic; try to be more than one-dimension. Make genuine friends and find friends outside of the business school. I was involved a lot in the business school, but love the friends I made outside of the school. I think it is very important. Keep in touch with your friends beyond just sending Facebook notes for their birthdays.

BHP Students Take First Place In SCI Case Competition

It is no secret that Austin, Texas is the place to be right now for anything to do with business. Entrepreneurs are flocking to get their startups off the ground, businessmen and women are migrating from the Silicon Valley to the Silicon Hills and everyone who’s anyone is talking about ATX. As businesses are growing, they’re also presented with bumps along the way, which is when consultants are able to lend a helping hand. The UT Student Consulting Initiative (SCI) is more than happy to offer their services to the booming business of Austin.

SCI hosted their Annual Fall Case Competition Saturday, November 23, which was sponsored by the BBA Alumni Excellence Foundation, EYAdvisory, OSL, Student Government and SCI alumni. The competition lasts two months and teams were tasked with assisting a local business with their needs from internal communication to marketing and more. Nine teams competed in the competition pairing with different local businesses. “We were very impressed with the results this year,” said SCI Co-Chair, Holli Wertheimer. “The students created a wide range of deliverables from marketing campaigns to inventory management tools to compensation requirements among many others.”

The winning team worked with Fair Bean Coffee on their internal communications and employee retention for a prize of $1,200. The team consisted of Jason Prideaux, BHP, Finance and Plan II ’16, David Kaplan, BHP & Corporate Finance ’16, Douglas Berkman, BHP ’16, and Catherine Anne Prideaux, BHP & Plan II ’16.

“This was a tremendous learning experience,” said Douglas Berkman, a member of the winning team. “The case competition provided me with insight on what it is like to be a consultant for a real company with real employees and a real owner.” Many of the students felt it was a good experience even for those not currently pursuing consulting, “I entered the competition for experience,” said Catherine Anne Prideaux. “I would highly recommend doing SCI even if you’re not considering consulting!” All four team members noted that their group meetings were one of their favorite parts of the competition.

If you’re interested in learning more about SCI, visit their website.

This article originally appeared on BBA News.