CSVC TEAM LETTER · To get the most out of this once-in-a-lifetime opportunity, Volunteers can give...
8
CSVC TEAM LETTER Hello from the Center for Social Value Creation, and happy 2015! The University of Maryland is back in session, the campus is alive with energy, and we’re gearing up for another exciting year! 2014 was a time for both reflection and for growth. We sadly said goodbye to our Founding Director Melissa Carrier, and we welcomed Dr. Christine Beckman as CSVC Academic Director. We took chances on new opportunities, amplified community engagement, and developed new partnerships outside of the Robert H. Smith School of Business. Within the walls of Smith we piloted five student programs, and engaged new faculty to deliver on our mission to create a better world through business principles. In 2015 we have even bigger plans. IN DEPT H SHAPING UNIVERSITIES & ENDOWMENTS' RESPONSE TO THE FOSSIL FUEL DIVESTMENT MOVEMENT By Nadine Payne, MBA '15 & Katie Tedrow, MBA '15 Robert H. Smith School of Business There has been a rising drumbeat of concern from university students across the country to compel their universities to divest endowment holdings from coal and oil companies. The fossil fuel divestment movement poses many challenges for universities and their financial advisors. How should universities manage the concerns of their student bodies and the climate impact of their investment choices, while choosing the best course of action to maintain healthy returns on endowment investments? Below are some suggestions for how a university can begin to address this very thorny issue. ALUMNI SPOTLIGHT: ALLIE ARMITAGE BS '08 STUDENT SPOTLIGHT: RAHUL SHAH MBA '15 FACULTY SPOTLIGHT: BILL LONGBRAKE PHD '76 WHAT'S NEW : SOCIAL ENTERPRISE SYMPOSIUM, FEATURING TOM’S SHOES! (FEB. 27) The countdown is on! The 7th annual Social Enterprise Symposium (SES) will take place February 27th at Stamp Student Union, University of Maryland, College Park. The Symposium will explore social, environmental, and economic change from a variety of lenses. Allies from schools and departments across campus will lead sessions and workshops in this one-of-a-kind event focused on interactive learning, entrepreneurial thinking, and positive social change. We’re delighted to welcome Shira Shafir, Director of Social Impact at TOM’s Shoes as our keynote speaker. Shira will be joined by an outstanding group of industry experts and UMD thought leaders, including Teji Ravilochan, CEO of the UnReasonabe Institute; Sabrina Quaraishi, Senior Program Manager at Grameen Foundation; and Sheri Parks, Associate Dean of the College of Arts and Humanities – to name just a few! Volunteers are needed. If you’re interested in volunteering (and receiving a discount!) please email [email protected] with your name and availability. JOIN US FOR THE 2015 ASHOKA U EXCHANGE There’s still time to apply for the Ashoka U Exchange, co- hosted by the University of Maryland and Ashoka U, February 26-28th. Join a community of 650 higher education thought leaders sharing new ways of teaching and learning social entrepreneurship. UMD faculty, staff and administrators will be featured in seventeen conference sessions, and the ChangeTheWorld.org Nonprofit Consulting Program, led by CSVC's own Pammi Bhullar, will be honored with an Ashoka U / Cordes Innovation Award. Applications for the Exchange are due by January 31, 2015. Volunteers are currently being accepted for all three days of the Ashoka U Exchange. If you’re interested in volunteering please email [email protected] with your name and availability. CALL FOR PROJECTS! MBA CONSULTING FOR SOCIAL VENTURES Applications are now open for the Fall 2015 MBA Social Venture Consulting Practicum (SVC). SVC provides mission- driven organizations the opportunity to address a specific business challenge with the support of a dedicated MBA team throughout the course of a semester. SVC can help your organization increase organizational capacity and social/environmental impact by receiving business consulting that covers a range of areas, including marketing, financial management, operations, human capital, and strategic planning. Past clients have included Amtrak, Mayorga Organics, the National Aquarium, and the U.S. Chamber of Commerce Foundation, among others. Use the MBA Social Venture Consulting Application to apply directly, or learn more about of the benefits of this opportunity by contacting Program Manager, Pammi Bhullar ([email protected]). Applications are due by Monday, March 30, 2015.
Transcript of CSVC TEAM LETTER · To get the most out of this once-in-a-lifetime opportunity, Volunteers can give...
CSVCTEAMLETTER
HellofromtheCenterforSocialValueCreation,andhappy2015!TheUniversityofMarylandisbackinsession,the
campusisalivewithenergy,andwe’regearingupforanotherexcitingyear!
2014wasatimeforbothreflectionandforgrowth.WesadlysaidgoodbyetoourFoundingDirectorMelissaCarrier,
andwewelcomedDr.ChristineBeckmanasCSVCAcademicDirector.Wetookchancesonnewopportunities,
amplifiedcommunityengagement,anddevelopednewpartnershipsoutsideoftheRobertH.SmithSchoolof
Business.WithinthewallsofSmithwepilotedfivestudentprograms,andengagednewfacultytodeliveronour
missiontocreateabetterworldthroughbusinessprinciples.
In2015wehaveevenbiggerplans.
INDEPTH
SHAPINGUNIVERSITIES&ENDOWMENTS'RESPONSETOTHEFOSSILFUELDIVESTMENTMOVEMENT
ByNadinePayne,MBA'15&KatieTedrow,MBA'15
RobertH.SmithSchoolofBusiness
Therehasbeenarisingdrumbeatofconcernfromuniversitystudentsacrossthecountrytocompeltheiruniversities
todivestendowmentholdingsfromcoalandoilcompanies.Thefossilfueldivestmentmovementposesmany
challengesforuniversitiesandtheirfinancialadvisors.Howshoulduniversitiesmanagetheconcernsoftheirstudent
bodiesandtheclimateimpactoftheirinvestmentchoices,whilechoosingthebestcourseofactiontomaintain
healthyreturnsonendowmentinvestments?Belowaresomesuggestionsforhowauniversitycanbegintoaddress
thisverythornyissue.
ALUMNISPOTLIGHT:
ALLIEARMITAGEBS'08
STUDENTSPOTLIGHT:
RAHULSHAHMBA'15
FACULTYSPOTLIGHT:
BILLLONGBRAKEPHD'76
WHAT'SNEW:
SOCIALENTERPRISESYMPOSIUM,FEATURINGTOM’S
SHOES!(FEB.27)
Thecountdownison!The7thannualSocialEnterprise
Symposium(SES)willtakeplaceFebruary27thatStamp
StudentUnion,UniversityofMaryland,CollegePark.The
Symposiumwillexploresocial,environmental,andeconomic
changefromavarietyoflenses.Alliesfromschoolsand
departmentsacrosscampuswillleadsessionsandworkshops
inthisone-of-a-kindeventfocusedoninteractivelearning,
entrepreneurialthinking,andpositivesocialchange.We’re
delightedtowelcomeShiraShafir,DirectorofSocialImpactat
TOM’sShoesasourkeynotespeaker.ShirawillbejoinedbyanoutstandinggroupofindustryexpertsandUMD
thoughtleaders,includingTejiRavilochan,CEOoftheUnReasonabeInstitute;SabrinaQuaraishi,SeniorProgram
ManageratGrameenFoundation;andSheriParks,AssociateDeanoftheCollegeofArtsandHumanities–to
namejustafew!Volunteersareneeded.Ifyou’reinterestedinvolunteering(andreceivingadiscount!)please
JOINUSFORTHE2015ASHOKAUEXCHANGE
There’sstilltimetoapplyfortheAshokaUExchange,co-
hostedbytheUniversityofMarylandandAshokaU,February
26-28th.Joinacommunityof650highereducationthought
leaderssharingnewwaysofteachingandlearningsocial
entrepreneurship.UMDfaculty,staffandadministratorswillbefeaturedinseventeenconferencesessions,andthe
ChangeTheWorld.orgNonprofitConsultingProgram,ledbyCSVC'sownPammiBhullar,willbehonoredwithan
AshokaU/CordesInnovationAward.ApplicationsfortheExchangeareduebyJanuary31,2015.Volunteersare
currentlybeingacceptedforallthreedaysoftheAshokaUExchange.Ifyou’reinterestedinvolunteeringplease
CALLFORPROJECTS!MBACONSULTINGFORSOCIAL
VENTURES
ApplicationsarenowopenfortheFall2015MBASocial
VentureConsultingPracticum(SVC).SVCprovidesmission-
drivenorganizationstheopportunitytoaddressaspecific
businesschallengewiththesupportofadedicatedMBAteam
throughoutthecourseofasemester.SVCcanhelpyour
organizationincreaseorganizationalcapacityand
social/environmentalimpactbyreceivingbusinessconsulting
thatcoversarangeofareas,includingmarketing,financial
management,operations,humancapital,andstrategicplanning.PastclientshaveincludedAmtrak,Mayorga
Organics,theNationalAquarium,andtheU.S.ChamberofCommerceFoundation,amongothers.UsetheMBA
SocialVentureConsultingApplicationtoapplydirectly,orlearnmoreaboutofthebenefitsofthisopportunityby
contactingProgramManager,PammiBhullar([email protected]).ApplicationsareduebyMonday,March
30,2015.
GETREADY!THE2015DOGOODCHALLENGEISHERE
ThispastfallsemesterCSVCandtheCenterforPhilanthropy
andNonprofitLeadershipdispersedover$7000inseed-funding
throughtheDoGoodChallengeBoosterFundtojump-start18
promisingstudentgroupsaspartofthe4thAnnualDoGood
Challenge.Thesegroupsrepresentjustafewofthemanywho
willcompeteintheDoGoodChallenge,startingFebruary9th.
Forthesecondyearstudentshavetheoptioncompeteintwo
separatetracks-DoGoodProjectsandDoGoodVentures–for
atotalof$20,000inprizes.Tolearnmore,visittheChallenge
online.And,besuretostopbytheDoGoodShowcaseatthe
SocialEnterpriseSymposium!
LIVINGLABPORTALLAUNCHES
TheLivingLabportal,launchedbytheCenterforSocialValue
CreationinFall2014withsupportfromtheUniversity
SustainabilityFund,connectsUMDstudentswithexperiential
learningprojectsfocusedonimprovingourcampusandlocal
community.Studentscansearchforopportunities,signupas
collaboratorsonopenprojects,orsubmitprojectideasdirectly
toparticipatingUMDorganizations.UniversityofMaryland
departmentscanalsopostandfacilitateprojects.Visitthe
LivingLabPortalnow,[email protected]
discusshowthePortalcanbenefityourdepartment,programor
organization.
RECAP:
'SOCIALENTREPRENEURSHIPLABORATORY'PILOTED
TheRobertH.SmithSchoolofBusinesspilotedtheSocial
EntrepreneurshipLaboratory(SELab)lastFallunderthe
leadershipofProfessorChristineBeckmanandAdjunct
ProfessorSaraHerald.TheLabisanactivelearning
environmentwherestudentstesthypothesesaroundthe
creationofsocialventuresanddevelopafirst-hand
understandingofhowthefieldworks.Thethree-creditcourse
welcomedsophomores,juniors,andseniorsfromacrossthe
UniversityofMarylandwithaninterestinlaunchingsocial
impactventures.Withthesuccessofthepilotcourse,theSE
LabwillbeofferedagainintheFallof2015.
SMITHWELCOMESNEWFACULTYCHAMPIONFORSOCIAL
INNOVATIONFELLOWS
NowinitsfourthyearattheRobertH.SmithSchoolofBusiness,Social
InnovationFellows(SIF)welcomedanewfacetotheprograminFallof
2014.ProfessorDavidKirschhastakenthereinsoftheSIFprogram,
challengingstudentstoconsiderhowthetoolsofbusinesscanbe
appliedtoproducesocialandenvironmentalprosperity,andhelped
studentshoneinontheirspecific‘impact’passionareas.Welook
forwardtohavingDr.KirschalsoteachthefifthcohortofFellows,
beginninginFall2015.
4THANNUAL‘IMPACT’CAREERSWORKSHOPPROVIDES
ACTIONABLEADVICE
Forthefourthyearinarow,CSVCandSmith'sOfficeofCareer
Servicesco-hostedahands-onworkshopthatprovidedSmith
studentswithconcrete,actionableadviceonhowtolandwell-
paying,"impact"jobsinsocialenterprise,CSRand
sustainability.Thistwo-hourinteractiveworkshopfeaturedDr.
MrimBoutla,socialentrepreneurandco-founderofMoreThan
MoneyCareers.ParticipantsincludedSmithundergraduates
andMBAs,whoasabonusreceivedonemonthoffreeaccesstotheMorethanMoneyCareerse-learningplatform.
FROMTHEBLOG:
'TISTHESEASON:7WAYSTOJUMPSTARTYOURNEW
YEAR
Winterbreakisoverandit'stimetodiveintoanewsemester
andanewyear!Ifyou'vecommittedtomake2015ayearwhere
youmakebigthingshappenandcreateabetterworldthrough
businessprinciples,thisisthepostforyou.Hereareseven
waystojumpstartyourNewYear(andSpringsemester!)to
makeapositiveimpactontheworldaroundyou.‘Tisthe
season…Let’sdothis!
Sharethisemail:
5REASONSTOVOLUNTEERATSES&ASHOKAU
EXCHANGE
Ifyouenjoyedthe2014SocialEnterpriseSymposium,then
you’regoingtolovewhat’sinstorefor2015!Takeyour
experiencetoawholenewlevelbyconnectingandengaging
moredeeplyasanEventVolunteer!Inthisroleyou’llmeet
studentsfromacrosstheUniversityofMarylandandbeyond,as
the2015Symposiumwillcoincidewiththe2015AshokaU
Exchange(Feb.26-28)–theworld’slargestgatheringofsocial
entrepreneurshipinhighereducation.UMDistheleadhostof
the2015ExchangeandonFriday,February27,the
Symposiumwillbethefeaturedstudentprogrammingtrackof
thisexcitinginternationalevent.Togetthemostoutofthisonce-in-a-lifetimeopportunity,Volunteerscangivea
portionoftheirtimetotheSymposium(Feb.27),andanotherportiontotheAshokaUExchange(Feb26&28).
connectwithus:
Manageyourpreferences|OptoutusingTrueRemove™
Gotthisasaforward?Signuptoreceiveourfutureemails.
Viewthisemailonline.
RobertH.SmithSchoolofBusiness|TheUniversityofMaryland|Suite2410VanMunchingHall
CollegePark,MD|20742US
Thisemailwassentto.
Tocontinuereceivingouremails,addustoyouraddressbook.
Sharethisemail:
CSVCTEAMLETTER
HellofromtheCenterforSocialValueCreation,andhappy
2015!TheUniversityofMarylandisbackinsession,the
campusisalivewithenergy,andwe’regearingupforanother
excitingyear!
2014wasatimeforbothreflectionandforgrowth.Wesadly
saidgoodbyetoourFoundingDirectorMelissaCarrier,andwe
welcomedDr.ChristineBeckmanasCSVCAcademicDirector.Wetookchancesonnewopportunities,amplified
communityengagement,anddevelopednewpartnershipsoutsideoftheRobertH.SmithSchoolofBusiness.
WithinthewallsofSmithwepilotedfivestudentprograms,andengagednewfacultytodeliveronourmissionto
createabetterworldthroughbusinessprinciples.
In2015wehaveevenbiggerplans.Christinehasjumpedinwithbothfeetgettingtoknowtheteamandexploring
curricularofferings.And,thehigh-qualityprogrammingthatCSVChascometobeknownfor(likeour
ChangeTheWorld.orgNonprofitconsultingprogram,MBASocialVentureConsultingPracticum,andtheMaryland
SocialEntrepreneurCorps)continuestogrowandadvance.
InFebruaryCSVCwillhelpleadthechargeastheUniversityofMarylandco-hoststhe5thAshokaUExchange-the
world’slargestconveningforsocialentrepreneurshipinhighereducation-onFebruary26-28,2015,inWashington,
DC,andCollegePark,MD,bringingtogether650universityfaculty,staffandadministratorsfrom150institutions.
TheExchangeissupportedbytheOfficeoftheProvost,theRobertH.SmithSchoolofBusiness(asleaderofthe
hostingcommittee),aswellastheSchoolofPublicPolicy,theCollegeofBehavioralandSocialSciences,andthe
AcademyforInnovationandEntrepreneurship.TenUniversityofMarylandfacultyandstaffhavebeenselectedto
present,includingthreeofusfromCSVC–Sara,Pammi,andKim.
Further,theCenter’s7thAnnualSocialEnterpriseSymposium(SES),isscheduledforFriday,February27.This
yearwe’llexploresocialimpactandvaluecreationfromavarietyoflensesandembracepartnersfromacross
campustofacilitateinteractivebreakoutsessionsandworkshops.We’llalsowelcomestudentsfromcollegesand
universitiesthroughoutthenationaspartoftheAshokaUExchange.And,we’rethrilledtohostShiraShafir,Director
ofSocialInnovationandImpactatTOM’sShoes,asourSymposiumkeynotespeaker.
We’realsogearinguptorunthesecondcohortoftheCommunityWealthBuildingPracticum(withSaraHeraldat
thehelm!),co-hostthe4thAnnualDoGoodChallenge(Maryland’slargestservicelearningandsocial
entrepreneurshipcompetition),andexpandthenewlylaunchedUMDLivingLabPortal–acampus-wideplatform
thatconnectsstudentswithexperientiallearningprojectsfocusedonimprovingourcampuscommunity.
WehopeyouenjoyreadingourNewsletter,andwelookforwardtokeepingintouch!Ifyouhaveanyquestionsor
comments,pleasedon’thesitatetoreachout.Finally,wehopetoseeyouattheSocialEnterpriseSymposiumon
February27!Checkouttheeventwebsite,andregistertoday!(DiscountsareavailableforUMDAlumniandevent
volunteers)
OnbehalfofCSVCwelookforwardtoseeingyousoon!
WarmestRegards,
Kim,Sara,Pammi,Ryan&Christine
connectwithus:
Manageyourpreferences|OptoutusingTrueRemove™
Gotthisasaforward?Signuptoreceiveourfutureemails.
Viewthisemailonline.
RobertH.SmithSchoolofBusiness|TheUniversityofMaryland|Suite2410VanMunchingHall
CollegePark,MD|20742US
Thisemailwassentto.
Tocontinuereceivingouremails,addustoyouraddressbook.
Sharethisemail:
DEEPDIVE
ShapingUniversitiesandEndowments’Responsetothe
FossilFuelDivestmentMovement
WrittenbyNadinePayne,MBA'15&KatieTedrowMBA'15
RobertH.SmithSchoolofBusiness
NadinePayneandKatieTedrowparticipatedintheYaleLow
CarbonCaseCompetitionlastNovember.Thefollowingpiece
isasummaryoftheconclusionstheydevelopedforthecase
competitiononeffectivestrategiesforUniversitiesfacing
studentpressuretodivestfossilfuelsfromtheirendowments.
Therehasbeenarisingdrumbeatofconcernfromuniversitystudentsacrossthecountrytocompeltheiruniversities
todivestendowmentholdingsfromcoalandoilcompanies.[i]Thefossilfueldivestmentmovementposesmany
challengesforuniversitiesandtheirfinancialadvisors.Howshoulduniversitiesmanagetheconcernsoftheirstudent
bodiesandtheclimateimpactoftheirinvestmentchoices,whilechoosingthebestcourseofactiontomaintain
healthyreturnsonendowmentinvestments?Belowaresomesuggestionsforhowauniversitycanbegintoaddress
thisverythornyissue.
Beforeoptingonacourseofaction,someveryimportantquestionsshouldshapetheapproachselected.First,how
shoulduniversityendowmentsandfoundationsframetheirinvestmentpoliciesregardingcarbonandwhatshouldbe
theobjectiveofsuchapolicy?Afterpolicyobjectivesareidentified,howshoulduniversitiesgoaboutimplementing
thoseobjectivesandwhatwillbetheeffecton,andpossiblelimitsof,thefiduciaryresponsibilitiesuniversity
endowmentsowetodonorsandthestudentbodyatlarge?Weoffertheanalysisbelowasablueprintfromwhich
universitiesmayaddressthequestionoffossilfueldivestment.Thisanalysisisunderpinnedbythekeenawareness
thatresponsibleinvestmentisaprocessthatmustbetailoredtofiteachorganization’sinvestmentstrategy,
approachandresources.Otherfactorstobetakenintoconsiderationincludeuniversities’investmentstyles,
institutionalrisktolerance,andthemyriadoffiduciaryecosystemsthatsupportuniversitiesandendowments.
Ourrecommendationsfallintofourbroadcategories:
1. Policy:Universitiesandendowments,inconsultationwithfinancialadvisorswherewarranted,shoulddevelop
anendowment-wideEnvironmental,SustainabilityandGovernance(ESG)investmentpolicythatallowsfor
sociallyresponsibleinvestingtobeincludedwithintheendowment’sscopeofactivities.
2. UniversityActivism:Universitiesshouldengagetheirstudentsandstakeholderstocreateon-the-ground
optionsforaddressingclimatechangeattheuniversitylevel.Bydoingso,universitiescanrespondtoand
empowerstudentstocreatesolutionsforalternativeenergyinvestmentoptionsandon-campusprojects.(See
theUniversityofMaryland’sSustainabilityFundasaworkingexample.)
3. EndowmentEngagement:Universityendowmentsshouldactivelyencouragestakeholderstoadoptand
employthewidelyacceptedsocialresponsibleinvestmentmetricssuchasthosepromulgatedbyGlobal
ImpactInvestingNetwork(GIIN)andtheIRISreportingstandardsdevelopedtostandardizeESGreporting
fromcompanies.[ii]
4. ProactiveEndowmentMitigation:Universitiesshouldestablishalternativestrategiesforengagingportfolio
companiestomaximizeclimatemitigationstrategies.Anexamplewouldbethefosteringofcarbonoffset
targetsat,orequalto,themarketvalueofthecarbonintensityofindividualequityholdingscontributiontothe
endowment’sportfolio.
Attheircore,thesesuggestionsproposethatuniversitiesandendowmentsmustseebeyondthedivestment
position.Theymustengagethestudentsandtheuniversitystakeholdersinproactivesolutionsthatgototheheart
oftheconcerns,ratherthanwrestleoverdivestmentasanimmediatereaction.
Werecognizethattheseprescriptionsmaynotbeeasytoimplement.Evidenceofthedifficultyinmanagingimpact
investingwheredivestmentisthemodelabounds.[iii]Theserecommendationsalsoacknowledgethataprimary
concernofanendowmentistheimpactthatanyapproachwouldhaveonthefiduciaryresponsibilitiesofthe
managerstotheendowment.Asafiduciary,afoundationisalsoresponsibleforinvestingandmanagingthe
underlyingassetsintheendowmenttomaximizethefinancialreturnonthoseassets.Thatresponsibilitymustby
necessityincludebuildingadepthofunderstandingoftheexposureoftheportfoliotocarbonassetrisks.Oncean
understandingoftheriskshasbeensecured,universityendowmentscancreateapolicytoaddressthequestionof
divestmentinlinewiththerisk/returnobjectivesofthefoundation.Atthesametime,thesesuggestionscreatean
opportunityforuniversitiestoproactivelyaddresstheunderlyingclimateimpactoftheinvestmentchoicesoftheir
endowments.Webelievethisisaprudentmethodforstartingtheprocessofrespondingtothisissue.
[i]Seehttp://350.org/
[ii]http://www.thegiin.org/cgi-bin/iowa/resources/research/625.html
[iii]http://www.nytimes.com/2014/11/20/us/harvard-students-move-fossil-fuel-divestment-fight-to-court.html?_r=0
connectwithus:
Manageyourpreferences|OptoutusingTrueRemove™
Gotthisasaforward?Signuptoreceiveourfutureemails.
Viewthisemailonline.
RobertH.SmithSchoolofBusiness|TheUniversityofMaryland|Suite2410VanMunchingHall
CollegePark,MD|20742US
Thisemailwassentto.
Tocontinuereceivingouremails,addustoyouraddressbook.
ALUMNISPOTLIGHT
AninterviewwithAllieArmitageBS'08
Founder,MindIntoMatter
WrittenbyRyanSteinbach
CommunityEngagementManager,CSVC
CSVC:TellmealittlebitaboutMindIntoMatterandwhatledyouto
startit.
ARMITAGE:Mypersonalexperienceinthestart-upworldafter
collegewastransformativeandamazing.Throughthatexperience,I
realizedtheskillswe’reusingtocreatesocialchangecanalsobe
usedtoconstructourlives.SowhatI’mtryingtodoatMindInto
Matterisapplytheconceptsusedforstart-upstoourpersonallives.
Iwanttohelppeoplefigureoutwhattheywanttopursueandhowtomakethatpossible.Wecanbeentrepreneurial;
andnotjusttostartacompany.Myprocessisablendofemotionalintelligenceandself-discovery.It’sabout
reflectingonwhatdrivesandmotivatesus.Whatgetsusupinthemorningandgivesuslotsofenergy?It’snot
necessarilywhatweinitiallythinkitis.Idoalotofworkaroundenergytrackingwithpeopletohoneinonwhatthey
reallyliketodo.Andthenoncethat’sclear,webuildapathforbringingthethingsthatgiveusenergyintoourlives.
CSVC:Hassubject#1beenyourself?
ARMITAGE:Absolutely!Ico-foundedastart-upcalledweBike–auniversitybikesharingservice-attheUniversity
ofMarylandin2012.Whenwedecidedtodiscontinueitforamyriadofreasons,Iwasn’tsurewhatIwantedtodo
next.I’dinvestedfiveyearsofmylifeintothatstart-upandreallythoughtthatwaswhatIwantedtodo.Iasked
myself,“WhatdoIdonow?”
SoIstartedtakingalotofclassesandworkedwithacoachtofigureoutwhatwasgoingtohelpmefindmynext
step.Ididalotofself-discoveryandrealizedtherehavealwaysbeensignspointingmetowardwhatI’dliketodoin
mylife.WhileIlovebikesharingasaconcept,thatwasn’twhatIgrewupdreamingofdoing.Alotofmyskillsand
strengthsweren’tbeingused.
IrediscoveredthatI’mreallygoodatone-on-oneworkwithothersandwanttoworkwithpeopleeverysingleday.It
wasn’tarevolutionaryidea,butitwasanimportantrealization.Idon’twanttositinfrontofacomputer.Idon’twant
tobeonthephoneallthetime.Iwanttoworkwithpeoplefacetoface.AndsowhatI’mtryingtodonowis
reconstructmyjourneyforotherssothattheyhaveamorestructuredwayofmakingthatsametransition.
CSVC:WhatabouttheDesignThinkingandLeanStartupmethodologiesmakethembetterstrategiesforpersonal
developmentthanwhat’sbeingusedbyotherlifeandcareercoaches?
ARMITAGE:Ithinkwhatotherpeoplearedoingisgreatandtherearealotofgoodfoundationalresourcesoutthere.
WhatIlikeabouttheinnovationtoolkitisthatthey’reveryconcrete.Ithinkalotofthepersonaldevelopmentspace
canfeelsoft.Therearen’talotofconcrete,measurablestrategiestouse.
Gettingreallyspecificandclearisoneofthebiggestadvantageofusingtheinnovationtoolkit.Afterall,theseare
provenmethodsformakingthebestofabstractsituations.Startingabusinessisridiculouslyabstract.There’sso
muchambiguityandsomanyunknowns.Thatsituationtranslatesreallywelltofiguringoutwhattodowithyourlife.
Nopersonknowsexactlywhattheanswerisandsowecangothroughthesameprocessthatentrepreneursgo
through.It’sallaboutgettingoutthere,tryingdifferentthingsandfindingwhatworks.Ihavesomuchexperiencein
thatprocessandsawtheparallelsreallyquickly.ThebestexampleIhaveforwhyIthinkthisconnectionisso
poweristheattitudemanyentrepreneurshaveaboutlife.It’ssopowerfultobeokaywithfailure,understandthe
conceptofajourney,andthatthey’renotonalinearpathtosuccess.Entrepreneursexperienceupsanddownsas
theypursuetheirambitions.Thatsoundsalotlikelifetome.
CSVC:Outsideofwork,areyouengagedwithotherorganizationsorgroups?Whatdrawsyoutothem?
ARMITAGE:I’mpartofacommunitythatuntilrecentlywascalledSandbox.Nowit’sknownasOne/Thousand.It’s
basicallyaglobalfamilyofyoung,innovativeleaderswhoarepassionateabouttheworkthatthey’redoing.Webring
peoplewithlikemindedvaluestogethertoinspireandsupporteachother.Thefounderswantedtocreatean
incubatorofpeopleratherthananincubatorofideas.It’saboutgettingreallyenergetic,excitedpeopletogetherto
helponeanothergrow.
Iamco-leadingthehubinDCrightnowsothatmeansIorganizeevents,welcomenewpeopleintothecommunity
andmakesurethateveryone’sgettingachancetohangoutandseeeachotheronaregularbasis.
CSVC:WhatdidyoudoattheUniversityofMarylandthat’sinformedwhereyouarenow?
ARMITAGE:TheQuestProgram!AtthetimeitwasledbyDr.Suarez.Theimmersiveexperienceoftheprogram
gavemetheopportunitytolaunchWeBike,getintothestartupworld,learnwhatdesignthinkingwasandstart
applyingityearsagobeforeitwastrendy.Theexperiencereallyallowedmetogetcomfortableusingmethodologies
likedesignthinkingandalotofwhatIteachnowisthesamehands-on,immersiveapproachatQUEST.
CSVC:What’syouradviceforotherstudentswhowanttogetinvolvedinthestart-upspace?
ARMITAGE:Testthewaterswhileyou’reinauniversityenvironment.It’ssoeasytostartthingswhenyou’rein
college.IlookbacknowandI’msogladandthankfulthatIstartedacompanywhileIwasincollege.It’salmosta
nobrainer.TherearesomanyfreeresourcesoncampusandtheUniversityofMarylandissuchanentrepreneurial
institution.It’sallthekindofstuffwetakeforgranted,graduateandthenrealize,“wheredoIgetthisstuff?”Asa
studentit’salsosoeasytobeinthemindsetofnotlettingthebarriersandobstaclesgetinyourway.That’sthe
typeofmindsetyouneedtoactuallycreatesomething.
Myotherpieceofadviceistobereallyhonestaboutwhatmakesyouhappyandwhatfeelsright.Youdon’tneeda
lifepurposethat’sclearandwelldefined.That’shardanddauntingtofigureout.Focusinsteadonjustnoticingthe
thingsthatraiseyourenergylevels,makeyouexcitedandgetyoureallyenthusiasticforreasonsyoucan’texplain.
Thosearethethingsweneedtoincreaseinourlives.Andthey’rethethingsthatwe’lllikelybeverysuccessfulin
pursuing.Withthatkindofexcitementandmotivationtogetyouthroughtheroughpatches,you’remorelikelyto
excel.
CSVC:Whatisafunfactaboutyourselfthatmostpeopledon’tknow?
ARMITAGE:WhenIwasakid,mydreamwastogrowupandbecomeanOlympicfigureskater.Iwantedtobe
MichelleKwan.Weusedtogooutinourdrivewayandcomeupwithalltheseiceskatingroutines.Quitedifferent
thanwhereIamnow!
CheckoutAllie’sDesignThinkingworkshopinactionatGeneralAssemblyonFebruary11th.
Applications2015-2016QUESTcohortsaredueFebruary13,2015.
connectwithus:
Sharethisemail:
STUDENTSPOTLIGHT
AnInterviewwithRahulShah,MBA/MFin‘15
WrittenbyRyanSteinbach
CommunityEngagementManager,CSVC
CSVC:Tellusalittlebitaboutyourself.
SHAH:Iamathird-yearPTMBA/MastersinFinancedualdegree
candidateatSmithfinishingthisMay.IgrewupinMontgomeryCounty
andliveinSilverSpring,MD.IcurrentlyworkinFinanceandMarketing
OperationsatAetnaHealthcare,butamfullycommittedtoacareerin
thesocialsectorafterfinishingmydegrees.Specifically,Iintendto
movetoIndiaandwouldliketopursueacareerinnon-profitconsulting
orwithalarge-scale,highimpactNGOthere.
CSVC:What’sdrawingyoutothesocialsectorinIndia?
SHAH:Aftergraduatingfromundergrad,IspentayearteachingEnglish
intheurbanslumsofAhmedabad,Gujarat,India.Thiswastrulyalifechangingexperience.Itexposedmetothe
uniquechallengesfacingtheurbanpoorinIndiaandsparkedagenuinepassionforservice.
AfterreturningtotheUS,IbecameveryactiveincommunityengagementeffortsandawidevarietyofDCareanon-
profits.Mytimeinservice,bothinIndiaandintheUS,reallyreaffirmedwhatmypassionsareandwhereIwantto
takemycareerprofessionally.TherearealotofsocialneedsinIndiaandtherearemanyopportunitiestopositively
impactthem.
CSVC:Doyouhaveanyspecificareasthatyou’reinterestedinwithintheSocialSector?
SHAH:Specifically,Iamveryinterestedinpovertyalleviation,internationaldevelopmentandmarket-based
approachestoempowerthebaseofthepyramid.Iamdeeplyalignedwithmanymissionsthatbenefitthosein
poverty,fromaddressinghungerneeds,education,youthdevelopment,financialinclusion,accesstowater,
affordablehousingandhealthcare,farmerwell-beingandmuchmore.ThisiswhyIwouldliketopursueacareerin
non-profitconsulting.
BeinganMBA/MastersinFinancedualdegreecandidate,Iamalsoveryinterestedinhowtousefinanceasatool
tohelpimprovethelivesofothersinareassuchasimpactinvesting,micro-finance,socialimpactbondsandother
innovativefinancialinstrumentswiththispurpose.
CSVC:IsthatultimatelywhyyoudecidedtogetanMBA?WhydidyoudecideonSmith’sPart-TimeMBA
program?
SHAH:IdecidedtogetanMBAbecauseIwantedtogainmoretechnicalskillsinfinance.However,Ididn’twanta
dilutedMBAthatwasfocusedonfinancebecausetherearesomanygreatcoursesinstrategyandmarketing.So,I
decidedtoaddontheadditionalMasterofFinancedegreesothatIcouldtakemorestrategyandmarketingclasses
whileincreasingmyunderstandingoffinance.Ichosethepart-timeoptionbecauseIthoughtitwouldbemore
practicalfinancially.Ialsowantedtobuilduponmyprofessionalexperiencewhileapplyingtheknowledgefrommy
courseworkonthejobimmediately.IfIwentfull-timeIwouldhavehad2-3yearsofexperienceandanMBAwhereas
nowI’llhaveoverfiveyearsofexperienceandanMBA.Ithinkthat’sprettysignificantatthisstageinmycareer.
Smith’sPTMBAwasmytopchoicebecauseofthestrongreputation,diverseofferings,flexibilityofbeingabletogo
atyourownpace,andtheproximitytowork.Thesatellitecampusesmakeitaloteasierforaworkingprofessional.
CSVC:Outsideofclassandwork,whathaveyougotteninvolvedinatCSVCandSmith?
SHAH:I’monmythirdsemesterasaChangeTheWorld.orgNonprofitconsultant,I’veattendedtheImpactCareers
workshopcohostedbyCSVCandSmith’sOfficeofCareerServicesandIwenttolastyear’sSocialEnterprise
Symposium.WithinSmith,IserveasVPofCommunityDevelopmentwiththePart-TimeMBAAssociation,where
oneofmygoalswastoincreasecommunityengagementandreplicatesomeoftheresourcesandexperiencesfor
part-timestudents.
IalsoserveasanEquityAnalystwiththeGlobalEquityFund,haveparticipatedintheshort-termglobalstudies
consultingtrip,takenclassesintheSchoolofPublicPolicyandamafrequentcontributortothePTMBABloginan
attempttoincreaseengagementofPTMBAstudentsbysharingmyownpositiveexperiencesintheprogram.
CSVC:Soyou’vebasicallydoneeverythingweoffertoPart-TimeMBAs.
SHAH:Justabout.
CSVC:WhatareyouinvolvedinoutsideofSmith?
SHAH:IserveontheboardfortheNetworkofSouthAsianProfessionalsasthecommunityservicechair.Ienjoy
myrolealotbecausenotonlydoIdevelopandimplementthestrategyofourorganization,butIalsoworkwith
manyotherlocalnon-profitorganizations.EachsetofcommunityserviceeventsIplanreallybecomesalearning
experience.Ilearnmoreaboutthemodels,strategyandimpactofeachpartnerorganization.
CSVC:WhatadvicewouldyougivetoPart-TimeMBAstudentstryingtogetinvolvedinsocialentrepreneurshipand
socialinnovation,bothhereatUMDandbeyond?
SHAH:ReallytakeadvantageofalltheopportunitiesandresourcesatSmith.Thisiswhataddsvaluetoyour
experienceandconnectsyouwithlike-mindedstudentsacrosscohorts,campusesandprograms.Cateryour
curriculumaccordingly.Therearesomanyawesomeclasseslikesocialentrepreneurship,marketingforsocial
value,nonprofitfundraising,andnonprofitstrategy.TakeclasseswithPublicPolicystudentsaswellandparticipate
inasmanyofferingswithCSVCaspossible.
BeyondUMD,keepup-to-dateonalloftheresearchandinnovationgoingoninthesocialsector.Findorganizations
whosemissionyouarealignedwithandbecomeanactivevolunteerorevenaboardmember.Opportunity
recognitionusuallybeginswithpersonalexperiencesandadesireforsocialchange–sogetoutthereinthefield
andworkhand-in-handwiththoseyouwanttoserve.ThebestpartofmytimeinIndiawasactuallyworkingwiththe
underprivilegedchildrenthere.
CSVC:Whatisafunfactaboutyourselfthatmostpeopledon’tknow?
SHAH:Ispent9yearsofmychildhoodinOmaha,Nebraskaandwastheonlyminorityinelementaryschoolthere.
ThiswasquiteadifferencefromspendingmiddleschoolandhighschoolinSilverSpring,MDwherethestudent
populationwasunder20%white.
connectwithus:
Manageyourpreferences|OptoutusingTrueRemove™
Gotthisasaforward?Signuptoreceiveourfutureemails.
Viewthisemailonline.
RobertH.SmithSchoolofBusiness|TheUniversityofMaryland|Suite2410VanMunchingHall
CollegePark,MD|20742US
Thisemailwassentto.
Tocontinuereceivingouremails,addustoyouraddressbook.
FACULTYSPOTLIGHT
AninterviewwithBillLongbrake,ExecutiveinResidence,
RobertH.SmithSchoolofBusiness
WrittenbyRyanSteinbach
CommunityEngagementManager,CSVC
CSVC:WhataresomeoftheprojectshereatSmiththatyou’re
mostexcitedabout?
LONGBRAKE:Iamparticularlyexcitedaboutmyadvisoryroleon
theMBASocialVentureConsultingPracticumprojectwiththe
ChesapeakeBayTrustFund.Ialsoenjoywritingamonthly
economicletterfortheCenterforFinancialPolicyandamcurrently
collaboratingwithCFPonamediaforumscheduledinMarch.As
anexecutiveinresidence,I’mavailabletodowhateverI’maskedtodo.
CSVC:WasthereanythingaboutthisTrustFundProjectthatwasparticularlycompellingtoyou?
LONGBRAKE:Myprofessionalexperienceisinfinance,financialinstitutionsandcapitalmarkets.Doesthe
environmentalaspectgrabme?Ithinkit’sabsolutelycriticaltothefuturewell-beingofournation.Gettingitright
posesimportantpublicpolicyandfinancechallenges.I’vebeeninvolvedinpublicpolicyinavarietyofways.Not
specificallyontheenvironmentalside,butpublicpolicyrunsthegamutofalldifferenttypesofissues.
Ihavedeepknowledgeandexperienceinaffordablehousing.Itinvolvescreatingfinancingsolutionsthatmake
decenthousingaffordableforpeoplewithlowandverylowincomes.Muchofthatexperiencewillprobablycomeinto
playwiththisparticularproject.
CSVC:Speakingofyourworkinaffordablehousing,isthatapaththatyoujustfoundyourselfonorwasitmore
intentional?
LONGBRAKE:Backinthelate1960’stheFairHousingActwaspassedshortlyaftertheVotingRightsActand
othercivilrightslegislationwasadopted.Thenin1978,anotherlawwaspassed,theCommunityReinvestmentAct.
TheFairHousingActandCommunityReinvestmentActcombinedmandatedbankstoservetheircommunities.I
wasoneoftheregulatorswhohelpedcraftthebankregulationstoimplementthislegislation–everythingfromwhat
behaviorswereexpectedtohowweweregoingtoenforcecompliance.
Myinterestinhousingalsowaspromptedbythefailureofthefederalgovernment’smasshousingpolicythat
becameincreasinglyapparentaboutthesametime.Thehousingprogramfromthe50’s,whichledtothebuildingof
gigantichighrises-USHousingActof1949,wasatotaldisaster.Thesehighriseswerecentersofcrime,drugs
andotherillegalactivitybecausetherewasnosenseofcommunity.Ahighriseisn’tacommunity.
Thishousingprogramwascentrallyadministered.Therewasnosenseofcommunityownershiporgrassroots
engagement.WhenIfiguredthatoutinthe70’sandthenmovedtoSeattlein1980tojoinWashingtonMutual,I
engagedearlyonwithsomeoftheSeattle-basedgrassrootsorganizationsandpublicdevelopmentagencies.
Seattlewasatrailblazerofgrassrootsaffordablehousingorganizations.Todaythey’vebecomeverymature
organizations.ButwhenIarrivedinSeattlein1982,thiswasgroundbreakingwork.Ijoinedtheboardofmy
neighborhoodhousingpublicdevelopmentagency.Weacquiredrundownapartmentbuildings,cobbledtogether
financingfromvarioussources,renovatedthemandthensetupthetenantmanagement.Wewereessentiallya
smallbusiness.
Sothat’swheremypassionforaffordablehousingcomesfrom.I’mafirmbelieverthatthegrassrootsapproachis
thebestwaytosolvesignificantpublicservicesneeds,butputtingallviablesolutionstogethergetsvery
complicated.That’swhereIseeaclassicsmallbusinesssolutionoftenworkinginpartnershipwithgovernmentas
trulyeffective.
CSVC:Outsideofyourprofessionalwork,youserveonseveralnonprofitboards.Whyhaveyoumadeservingon
boardssuchalargepartofyourlife?
LONGBRAKE:I’mretired.AndpeoplelaughwhenIsaythat,butIconsidermyselfretiredbecauseIhavenoofficial
employerotherthantheUniversityofMarylandwhichisa40houramonthcommitment.But,beingretiredgivesme
thefreedomtochoosehowIspendmytime.Atthisstageinmylife,I’mjustdoingthingsthatarefunand
interestingtome,butalsowhereIcanutilizemyexperiencetoworkwithotherstosolveproblemsanddogood
work.
Mostofmyactivitiesnowarewithnonprofitorganizations.Theonefor-profitorganizationI’minvolvedwithlocallyis
CityFirstBankofDC,whichisactuallyownedbyanonprofitbankholdingcompany–CityFirstEnterprises.City
FirstBankmakesmoney,butitsfocusisonfosteringcommunitydevelopmentthroughlendingandotherprograms.
IliketothinkI’velearnedafewthingsovermylifespanandcanbeavaluablecontributorandadvisoronallsortsof
projectsandorganizations.Ialsooftenamabletoconnectpeoplefromdifferentwalksoflife
CSVC:Overthelastfewyears,financehasreallydevelopedareputationofbeingatoddswithsocialand
environmentalprogress.Whatadvicedoyouhaveforstudentswhowanttousetheirfinanceskillstopositively
impactontheworld?
LONGBRAKE:IactuallythinktheChesapeakeBayTrustFundprojectdoesagoodjobofmakingacaseforjust
that.Essentiallyitsays,ratherthanhavethestateadministeraprogramthroughanexistingagency,whichisthe
traditionalapproach,insteadcreateagovernmentpartnershipwiththeprivatesector.Havethestateprovidethe
capitalandcreatethestructuresandgovernance,butruntheprogramintheprivatesectorwhereyouhavethe
motivation,efficiencyandincentiveofprofit.
Profitisn’tnecessarilyabadthingifyougetbetteroutcomes.Theobjectiveisahealthierenvironment–inthiscase
cleaningupthewaterandvariousrelatedsystems.Alotofpeoplewillsay,“cool,that’sgoodstuff”,buthowcanyou
makestateresourcesstretchtocovertheinnovation,ingenuityandcreativityneededtodoit?Allofthisneedsa
financingstructurethatprovidesincentives.That’swheretheprivatesectorcomesin.Somepeoplemaystandto
makesomemoneyoffthistypeofinvestment.But,ifit’sawin-win,thenthatisgoodforeveryone.
CSVC:Itseemslike“takingcareoftheearth”or“protectingtheenvironment”canbeadismissivepointforbusiness
andfinancepeople.Itcanbeviewedas“crunchy”or“treehugger”tosuggestthesethings.Whydoyouthinkthat’s
thecase?
LONGBRAKE:“TreeHugging”isastereotypingofpeoplewhoaresopassionateabouttheenvironmentthatthey’re
notalwayspracticalabouthowtheirideasimpactothers.Theywantregulatorsandbusinessestofixthingsby
chargingtaxes,settingrules,inshort,doingwhateverittakes.Inmanycases,thesekindsofactionscanhave
deleteriousconsequencesforthebroadersystem.
Peoplegoonmarchesandprotestsandsit-inswhichcanhaveapositiveimpactingeneratingawareness.But
craftingworkableandeffectivesolutionsneedstoencompasstheinterestsofallparties.Ithinkmostbusinesses
wouldsay:“Yes,weagreewithyourconcerns,butdon’tforceustoaddresstheminwaysthatwillharmour
businesses.Let’stalkandfindcollaborativewaystoshapesolutions."That’sthebasisofapublic–private
partnership.Wecanprotecttheenvironment,anddosoinawaythatbenefitseveryone.I’mnotsayingwewon’t
havetodosomepushing.Businessesneedsomepushing.Butwecanpushtheminawaythatdoesn’tkillthemor
overwhelmthem.
Myexperienceisthatthisisaclassicproblemofcommunication.Wehavethesegroupsthatappeartobeopposed
toeachotherbutneveractuallytalktoeachother.Whenwebringthemtogether,werealizethatalotoftheirgoals
arereallyalignedandcollectivelytheycanbuildprogramsthatmeettheobjectivesofbothgroups.Andthat’sreally
whereIseemyrole,facilitatingcommunicationandconnectinggroups.
CSVC:Whatareacoupleofthingsyouenjoyoutsideofwork?
LONGBRAKE:I’maprettygoodpianoplayer.IhaveagrandpianoinmyhomeinSeattle.I’vebeenplayingsinceI
wasseven.I’mnotconcertquality,butI’mnottoobad.IalsohavefourchildrenandfivegrandchildrensoItryand
spendasmuchtimeasIcanwiththem.
connectwithus:
