Archive for May, 2010

By Jeremy Macdonald ‘10, MBA in Global Management

It’s the end of the second week and already I am starting to enter into a nice flow at work.  However this entry is more about intern life outside of work.

Company softball has started and the intern team got beaten handily.  Interns are beginning to become friends and our post-softball game dinner was hopefully the first of a lot of fun activities.  This internship experience so far has shown me that future job selection will always have a lot to do with who I am working with, perhaps as important as what I am doing.

Amway offers its employees two days off this weekend ( as well as the fourth of July)  so I took my family to Lake Michigan.  It was wonderful.  The sand was soft and clean.  The air was warm and less breezy that I expected.  The water was clear and cold.  Jumping all the way in was an adventure.  Another lesson from this internship: the climate is a larger factor in my future job planning than I had originally anticipated.

The other major challenge to this internship is putting my family through so many changes and transitions.  It has been hard to leave our home and most of our possessions to come here.  We also left behind our network of support and friends.  How do you quantify that value when making the eventual decision at the end of the MBA; where are we headed next?  How do you know if the next location will have as good as people as the ones that you are leaving behind?

When it comes down to it, you will never have all of the information before you make the big decisions.  So you just do your best and pray for inspiration.  So as I sit and reflect on the first two weeks I am realize that this experience has been invaluable so far and I am only two weeks in.

By Ryan Conway, MBA in Global Management 2011

It’s hard to believe that it has been almost a month already since I started my internship at Gaia Development, a consulting firm specializing in LEED® (Leadership in Energy and Environmental Design) and sustainability located in Marina Del Rey, CA. LEED, developed by the U.S. Green Building Council (USGBC) in 2000, is a third party green building verification system that aims to improve performance across a wide variety of metrics including energy use, water efficiency, CO2 emissions reduction, indoor environmental quality, and management of resources and their impact.

LEED has come a long way since its inception and the USGBC has been updating the qualifications criteria ever since (currently on the third version). Total LEED registered and certified projects as measured by floor area in 2009 grew by over 40% compared to 2008. Taking into account the dramatic fall off in new non-residential construction starts in 2009—by some estimates almost 40% below the peak of 2007—this number is even more impressive. There is a categorical shift change as well. New Construction (NC), which currently accounts for 47% of all LEED projects, is set to be replaced by Existing Building (EB) as the primary source of LEED projects in the next decade.

Needless to say, green is hot right now. The PR benefits are great and unfortunately have led to many companies jumping on the bandwagon by “greenwashing” their products or efforts. Unfortunately this works. Remember BPs “Beyond Petroleum” campaign? BP has said its brand awareness went from 4% to 67% from 2000-2007. Top (Kill) that!
As for me, I couldn’t be happier with my internship thus far. I ride my bike along the beach to work every day (just trying to do my part), and am learning and contributing to a great company. Until next time, have a safe memorial holiday T-Birds, and I will see you in the fall.

Receiving some assistance on my resume from my furry friend

I am in the same boat as many of these students, with hopes of hearing some good news any day now. That being said, taking summer classes is not a bad idea either. Many of those who are still without internships are making good use of their summer by taking a light load to ease the remainder of the school year (or even graduate early!). And to be honest, I’d much rather take summer classes than say yes to an internship that I really wasn’t excited about because if it’s not going to challenge my abilities then why waste both of our time?

That being said, there are still plenty of opportunities out there if you look hard enough. I love hearing about how all of my classmates are doing during the first few days of their internships. Many are heading off to other countries and parts of the US this week. There is no doubt that the classroom discussion will be even more enriching when everyone returns in the fall!

by Nadia Karim, MBA in Global Management 2010

As I sat on the train rolling into Paddington, the news monitors informed me that the British government had called an emergency meeting to discuss the current status of the volcanic ash. Apparently, shifting winds I had enjoyed on my daily walk from central London were harbingers of doom, calling into doubt the chances that I would leave the city that day. Hurriedly, I switched trains to the airport and changed schedules onto the next flight to Glendale. Thanks to the helpful efforts of airport staff, random Londoners, and my Thunderbird friends, I returned to Glendale safely (and in time to prepare for my upcoming internship).

The two weeks that I spent in London were hectic, long, and filled with many meetings and underground trips. In those two weeks I learned more about the EBRD (European Bank of Reconstruction and Development), private equity, and project financing than I thought would be possible in such a short time frame. Above all, each business partner with whom we interacted knew the value of a Thunderbird education and treated us as equals and potential partners from the first handshake. This type of exposure was essential to the direct flow of information and value of the Summerim. Dr. Mathis clearly has retained some great relationships in the Thunderbird community.

Those certain of their direction in financial services were able to interact with leading professionals in that field. Those unsure heard from a variety of different functions and were able to make informed decisions about narrowing their career searches. Between meetings and commutes, Thunderbirds scheduled interviews, concert outings, shopping trips, and general sightseeing visits. One group even saw the queen herself attending church services!

Our trip coincided with a great event in United Kingdom history–an election in which a hung parliament would force a cooperative government for the first time in 65 years. This, coupled with the economic turbulence occurring in the European Union, lent great topics and direction to our conversations. We heard from the Bank of England the central bank perspective on shifting economic and political forces, then had the same conversation with a pub-owner as we waited for the votes to be counted. From any perspective, the trip to London was a sunny portion of our ThunderLives, both professionally and personally.

Our group was also fortunate to take the ThunderBear along with us, in order to document the sights and experiences of London. You can find the photo-chronicles of ThunderBear here on his Facebook page. Despite the sprints from tube to building and back and the long hours, the time in London was well spent and is a trip I would go on again tomorrow, volcanic ash or not.

By Nick Vasilius, ‘11 MBA in Global Management

I just completed the Asia-Pacific Dynamic High-Tech Business Environment Summerim. This program allowed me to travel to five Asian countries and to see, first hand, the business environments in those countries. As I sit here preparing for my studies abroad in the Czech Republic, I’ve had time to reflect on the wonderful opportunities that I had during the condensed program. One of the reasons I came to Thunderbird was to be encouraged to partake in international programs like the summerim. My time in Asia was filled with amazing experiences, from meeting with industry leaders in the high-tech industry in China, Vietnam, Malaysia and India, to attending the 2010 World Expo in Shanghai. This trip gave me some amazing memories, but also valuable insight into this complex and extremely dynamic region and industry.

One of the things I enjoyed the most was the ability to meet with Thunderbird Alumni from each of the countries that we visited. Whether it was having Peking Duck with T-Birds in Shanghai, or enjoying the best Singapore had to offer with some kindred spirits, I appreciated the hospitality and comraderie displayed to my classmates and myself.

During this trip I had a moment of clarity when I realized exactly why I had come to Thunderbird. In the recruitment literature that comes from Thunderbird, I frequently read about how the school was “truly global”. I always thought that this was somewhat unnecessary for me. I had traveled to over 38 countries, majored in International Political Economics, and volunteered internationally; I had already had many “truly global” experiences.

But the truth of what Thunderbird offers sincerely hit me when I was in Ho Chi Minh City, mere days ago. The group had just finished a reception with Thunderbird alumni for First Tuesday, and we were invited to a small Cuban bar down the street for further drinks and entertainment. When I went there I found a rocking bar filled with people having fun and dancing. At first I believed this to be a fairly standard affair, but as I looked around the room, I realized I was seeing something very special. I found myself in a Cuban-themed bar in Vietnam, listening to a Filipino cover band play American blues songs (with a couple Thunderbird alumni taking turns soloing on the harmonica), drinking German Hof Brau beer. As if this weren’t enough, there were Swedish expats dancing in the middle of this unlikely scene. I sat back and thought, this is what they wrote about. This is Thunderbird.

By Jeremy Macdonald ‘10, MBA in Global Management

Amway has gone to extraordinary lengths to help me feel welcome and supported. This included breakfast this morning and many friendly and helpful people.

Sometimes it is hard to believe that Amway is 50 years old. It is such a large and successful company. They are figuring a very important question that will help them grow for the future. After all is “AMerican WAY” an American company or a global company? Somehow Gloway does not have the same name appeal. Neither does Globaway. Made in America used to be a standard of quality, and now it is more of a standard of high cost. In some industries it does not even connote High Quality anymore.

The question that Amway and many companies have to figure out is “What does it mean to be a global company? Do we lose our identity or water it down to fit a global market?

What is Amway? Quality products and direct selling. The fact is that direct selling is the most effective sales method across cultures. It is perhaps more widely accepted outside the United States than in. Has Amway’s incredible growth come from adopting an American business model for other cultures, or is it that they discovered and continuously improve a method that has universal appeal? Amway is a global company, but it is also an American company in the hearts of many Americans and employees. What if we begin to manufacture in foreign countries? Are we still American then? Is it fair to American customer to continue to produce in a method that is not the most cost effective?

If I had to sum up the American Way (not the company, but the quintessence of America) I would say: innovation and adaptability, and possibly impatience, and finally: hard work and perseverance will overcome any obstacle. Is there anything in these ideas that is uniquely American? Not really. Global might not even be the most appropriate term, though it is certainly more fitting. These are some of the fundamental tenets of the human race.

But if we try Universal Way (Unway, Uniway) the name starts to sound like a church.

My time at the company (in just two days) and with research into their projects to refine their supply chain make it clear that they are accepting the fact that American company does not have to mean manufacture and export solely from the US. Amway is eliminating processes that import raw materials to the US for manufacture and then export them back at high tariffs. Amway is being refined and becoming a stronger competitor across global markets. It has all of the pieces for long term growth and that is the global/American way.

I was introduced to my first project at the end of the day, coordinating with all of the departments to (technical to marketing to legal) to find the right way to benchmark the sustainability of Amway’s products, to do the benchmarking with a simulation software, and to make recommendations on the best first steps to take. Awesome. Help.

By Kelly Fuson, ‘11 MBA in Global Management

Studying abroad in Prague during the second module was an incredible experience, but what impressed me the most was the amount of effort that our professors put into our experience as well. They understood that we wanted to enjoy our surroundings and travel to as many places as possible and yet they challenged us with an appropriate workload and made sure we learned topics that would make us competitive candidates for the “real” world.

In fact, the volcanic ash erupting from Iceland wasn’t enough to stop Barbara Petitt, our amazing finance professor. Her schedule permitted her to fly from the UK, where she lives with her husband and children, to teach us four lectures every other week. When the volcanic ash stopped all flights within western Europe she was grounded in France with her children. Once all possible travel options were exhausted she resorted to using Thunderbird’s online classroom system, Tegrity, to record our lessons.

Not only was Professor Petitt a fantastic lecturer on video — which, let’s be honest, who wants to talk into a camera for hours on end with no audience? — but she also made herself available via Skype for hours on end to answer our questions in addition to responding to emails in lightning fast time. She even organized a time for all students to come together and watch the videos in unison while participating in a Skype group chat to get questions answered at the same time.

All of this happened the week before finals. I’ll admit that when I first heard she would not be able to lecture us in person I was concerned about being able to retain the information any other way. However, I could not be more impressed with how the situation turned out. For someone who is not naturally gifted in the ways of Finance, I am happy to report that I am very satisfied with my final grade and all credit must be given to Professor Petitt and her ability to teach and accommodate students, regardless of the situation.

Keep an eye out for my next post which will include stories about another amazing Thunderbird professor, Graeme Rankine, who teaches all levels of accounting. It wasn’t until I took his classes that I actually thought of accounting as fun!

By Melanie McKinney, ‘10 MBA in Global Management

The Renewable Energy/Cleantech Summerim debuted for the first time May 3, 12, 2010 on Thunderbird campus with 24 students. Focused on the basic technologies of renewable energy and the drivers that push its development (policy, finance, technology, etc.). The 2-week 3.0 credit intensive course featured 10 speakers and six off-campus field trips including companies/visits like: APS STAR Center, SRP Arizona Falls, Wells Fargo, Raser Technologies (geothermal), Central Arizona Project (CAP), Clipper Windpower, Palo Verde Nuclear facility, Redhawk Power Plant, Southwest Windpower, Arcosanti, eTec, APS Energy Services, AKA Green, and American Solar Electric.

As the TA for the course, I had the responsibility to arrange the speakers/field trips, but also the freedom to choose who would participate in the program. It was a great experience learning about these local companies in the area and how they are doing business in this hot field. It was the perfect way to end my time here at Thunderbird.

One of the last deliverables I gave Professor Unruh was a proposal to hold next year’s Renewable Energy/Cleantech Summerim in Hawaii because all of the renewable energy resources are there, and hey, the location isn’t so bad either. Hope to see you there!

By David Ford ‘10, MS in Global Management

I recently had the opportunity to experience the sweet joy that accompanies an internship offer. I hope that I did not come across as too eager as I cried out “I’ll take it!” The conversation that followed was an eye-opener for me as I learned what made the difference to the recruiting team when deciding to hire me.

Originally I had approached this employer for an entirely different internship. I did my homework and approached both in-person interviews as well as email and phone contacts with the careful preparation that we are told to do by the CMC. I did have my doubts about this preparation as there have been MANY job applications sent out and employers contacted, but it worked! After every conversation I had with a member of the recruiting team I was sure to send a follow-up email to thank the person who I talked to and ask if there was anything else I could do for them.

Following my last interview and follow-up. I felt confident in my chances at receiving an offer. To my disappointment I received a phone call thanking me for my time but that another person would be receiving an offer for the position. The initial disappointment I felt was soon replaced by gratitude, I had at least been a final contender for this position. I had made many good contacts at this company and if there were future jobs I wished to pursue there I had several people I could call for help and advice to get the position. Wanting to ensure the greatest chance for success in the future, I quickly drafted two emails, one to my interviewer and one to the main HR representative I had been in contact with. I explained how grateful I was for the opportunity to interview with them and for how impressed I was with their correspondence with me (they really were great). I expressed my desire to be considered for future positions and asked them for any critiques they had for me. Within two days I received a phone call from the main HR representative that I had worked with, he told me that he had passed on my resume to another group that was looking for a summer intern and that, if I was interested, they wanted to interview me the next day.

The next day I had a brief interview with two new individuals and, within the day, I received a call from the HR representative informing me that I had been offered the job. When I asked him why I had been recommended for the position he told me that when he was asked for recommendations for this position there were several to choose from but that I had differentiated myself with my follow-up emails. After everything, all the networking, the research on the company and the interviews, the difference in getting a job came down to promptly sending an email to say thank you.

Good luck to all of my fellow t-birds who are still hunting for their own jobs and internships! I would also like to express my thanks to Tara Lacey, Thunderbird graduate working with the Frankfurt School of Finance & Management, who commented on my last post about internship opportunities with her organization. If you want to focus your internship hunt to a specific city try www.indeed.com, I found this to be a helpful website.

by Nadia Karim, MBA in Global Management 2010

Welcome to all the new ThunderBloggers, and hello from London!

As a participant in the London Financial Markets Summerim, I am experiencing a whirlwind of intense scheduling. Between being in awe of the fantastic architecture, running from one underground stop to the next, and hearing from some of the greatest financial minds available in this city, I have had little time to update the blog!

However, photos of this incredible city, its landmarks, and ThunderBear among them, have been collected and I promise to share them with you shortly!

Our morning began with a relaxed session on project finance with William Clark of Taylor-Dejongh. We reviewed the segmentation of project finance objectives and metrics, and then were put through a case study with which to practice our newfound understanding (think fast: how many hours in a year?). Any of our professors would have been proud of the anti-calculator math-skills methods used to quickly assess the myriad of variables needed in valuing a single Liquified Natural Gas project.

The afternoon found us all in the old London Financial District. We met with Fidelity’s Technical Strategy director Jeff Hochman (Thunderbird 1990) to discuss how technical strategy applies on short term and long term bases to company valuation and investment selection. Not only did we get to visit the Fidelity chart room, but we were separated into teams and asked to play our own buy, sell, or hold decision. Each team was given analyst statements, an annual report, interim financials, and thirty minutes in which to confer. At the end, we presented to Jeff and a member of the Fidelity senior analyst staff regarding our decisions. In true Thunderbird style, each team had a different perspective on the issue that tackled one of the major questions which Fidelity analysts face when selecting investments.

Back at our host conference room (many thanks to Berne Union for the tea & biscuits in constant supply), we heard from Alberto Piedra, former Head of Global Banking for Dresdner Kleinwort. It was interesting to hear the perspective of the financial crisis and the resulting changes in financial products from the perspective from a firm that was acquired in the resulting changes.

These long days have been exhausting, but I am very much looking forward to tomorrow’s meetings (and have come to enjoy my ability to sleep between stops on the tube).

Until tomorrow, ThunderBlog followers! I am excited to hear of the travels of our fellow students and to fill in more London adventures!