Maine Business School MBSConnects - University of...

Orono, Maine • Summer 2014 • Volume 6, Issue 3

Maine Business School umaine.edu/business

MBSConnectsMBSConnectsFrom Orono

to Wall StreetMelissa Smith ’91, President and CEO of WEX

Story on page 5

2 Maine Business School

MBSNews

MBSConnects is published by the Maine Business SchoolIvan Manev, Dean

Written and edited by Ruth-Ellen Cohen • 207.581.1968Students, faculty and alumni are encouraged to submit information.

Layout and design by Val Ireland, Division of Marketing and Communications.Printed by University of Maine Printing and Mailing Services.

C arlos Martin-Rios of Madrid, Spainserved as visiting professor ofmanagement at the Maine Business

School last semester. A professor at the University Carlos III of

Madrid from 2006–13, Martin-Rios taughtPrinciples of Management to undergraduatesand Human Resource Management to MBAstudents at the Maine Business School.

“I enjoyed my semester here,” said Martin-Rios, a longtime friend of MBS Dean IvanManev and MBS assistant professor NiclasErhardt. Together, the three wrote articles about

organizational innovation — new ways work can be accomplished withinan organization to promote competitive advantage — that were publishedin the International Journal of Sociology last January.

“The MBS faculty was extremely friendly and welcoming and made mefeel at home from the beginning,” said Martin-Rios, who has been avisiting professor at numerous U.S., European and Latin Americanuniversities. This was his first time teaching in Maine.

“The students were eager to learn and brought interesting ideas andperspectives to the classroom,” he said. “While I tended to think in termsof large companies like Microsoft, Apple or Google, they liked to focus onsmall, local companies in Maine involved with such things as lobster,

Carlos Martin-Rios Visiting Professor of Management

Students and Faculty AwardsThe Maine Business School recognized students and faculty members duringthe 12th Annual Awards Night at the Penobscot Valley Country Club inOrono last April.

In addition to inducting 29 juniors, seniors and graduate students intoBeta Gamma Sigma, the business honor society, MBS presented studentawards to:

Janelle Tinker, AccountingRobert Brown, FinanceAlysha Mosher, International BusinessKathryn Smith, ManagementEmma E. Wilson, MarketingMalado Ba, MBAZachary Porter, Chicago Board of Options Exchange Award for Excellence

in the Study of Options; Finance Faculty AwardHelen T. Kearns, L.L Bean Award for Outstanding Performance in Business

Policy and Strategic ManagementJanelle Tinker, The Maine Business School’s Outstanding Student

of the YearDilasha Dixit, The Maine Business School’s Outstanding International

Student of the YearIn addition, professor John Mahon was presented with the MBS Excellence

in Teaching Award. He is professor of management and the John MurphyChair of International Policy and Strategy. Professor Patti Miles and professorGrant Miles were presented with the Excellence in Research Award for theirpaper, “Corporate Social Responsibility and Executive Compensation:Exploring the Link,” published last year in Social Responsibility Journal.

Faculty NotesMBS associate professor of human resource management Niclas Erhardt haspublished a paper, “The Dialectical Nature of Impression Management inKnowledge Work: Unpacking Tensions in Media Use Between Managers andSubordinates” in the May issue of Management Communication Quarterly.

Niclas Erhardt, an MBS associate professor of human resourcemanagement; Carlos Martin-Rios of Madrid, Spain, a former visitingprofessor at MBS; and Jason Harkins, an MBS associate professor ofmanagement, have written a paper, “Knowledge flow from the top: Theimportance of teamwork structure in team sports,” which is forthcoming inEuropean Sport Management Quarterly.

Faculty PromotionsCongratulations to Maine Business School faculty members Niclas Erhardt,Jason Harkins and Patti Miles, whose applications for promotion to associateprofessor with tenure were approved by the University of Maine SystemBoard of Trustees last spring.

Erhardt is associate professor of human resource management. Harkinsand Miles are associate professors of management.

They were among 26 UMS candidates to receive tenure.

Carlos Martin-Rios

blueberries, timber and logging. I appreciated them reminding me aboutthe importance of small companies. After all, 90 percent of companies inthe world are small.

“I also like that students here are obviously so proud of being fromMaine,” he said. “You don’t find that sense of belonging in other places.”

Dr. Martin-Rios earned a bachelor’s degree in economics andorganizational sociology at the University Complutense of Madrid andmaster’s degrees in statistics at the CIS (Center for Statistics and Research)in Madrid, in strategic human resource management at EOI (School ofIndustrial Organization) in Madrid and in management and humanresource management at Rutgers University in New Jersey. He received hisPh.D. in management and labor relations from Rutgers where he alsotaught classes.

“I love teaching because of the interaction with students,” he said. “Ilike vigorous debate and I welcome different points of view. I learn fromstudents just as they learn from me. I like to think of teaching as an organicexperience — I am always upgrading and changing my syllabi based onprevious classroom events.”

Martin-Rios is an authority on organizational innovation, whichinvolves work practices and methods that enable businesses and individualsto make the most out of technological innovations such as research anddevelopment, new products and patents.

“Organizational innovation enables us to get the best out of technicalinnovation,” he said. ■

University of Maine 3

Fromthe Dean

Dear friends,

As I travel around the state and the countryspeaking with Maine Business School alumni, Iam continually amazed at the outreach of theMBS and impressed with the caliber of ourgraduates. They hold prominent positions ininternational, national and Maineorganizations, run small and large businesses,and serve as CEOs, bankers, controllers,managers and consultants. Each, in his or herway, is helping to grow the economy andprovide job opportunities.

In this latest issue of MBS Connects, we areproud to bring you news about our alumni,faculty and students. As you read, pleaseremember that we need your help if MBS is tocontinue to serve as the center for businesseducation, research and outreach at the state’sflagship university. Tuition, fees and state fundsno longer cover the entire cost of a student’seducation, so additional support from loyalalumni and friends like you is more valuablethan ever.

MBS prepares students to meet theprofessional and social challenges of the futureby providing valuable real-world experienceand opportunities through the school’s ongoingrelationships with the business community andthrough organizations such as the StudentPortfolio Investment Fund (SPIFFY), whichmanages a portion of the University of MaineFoundation’s investment portfolio.

Our status as a business school accreditedby the Association to Advance CollegiateSchools of Business (AACSB) ensures thequality of our faculty, the relevance of ourcurriculum, and the prestige of your degree,while our facility, located in the D.P. CorbettBusiness Building, offers state-of-the-artinstructional classrooms and computing labs.

We hope you enjoy the Summer 2014 MBSConnects. Please let us know what’s happeningin your life by calling 207.581.1968 or sendingan email to [email protected]. We lookforward to hearing from you.

Ivan Manev, Dean

Ivan Manev

Twelve SPIFFY members attended an annual student investment fund symposium in NewYork City last March where they interacted with financial industry leaders, learned bestpractices in investment management and met students from 118 colleges and universities

across the globe. They were accompanied by finance professor Bob Strong, faculty adviser forSPIFFY, and finance professor Rick Borgman.

The Student Portfolio Investment Fund is the Maine Business School’s student-runorganization which manages $2.1million for the University of Maine Foundation. The groupcelebrated its 20th anniversary last year.

During the three-day Quinnipiac Global Asset Management Education (G.A.M.E.) Forum,students listened to keynote panels composed of well-known financial experts who discussed theglobal economy, global stock markets, alternative assets versus equities, corporate governanceand the Federal Reserve. They attended breakout discussion panels and workshops and gotadvice on career opportunities within the financial services industry.

Christopher Hammond ’15, a junior with a dual major in finance and political science, saidhe especially enjoyed the keynote speakers who included “some of my favorite investors/traders”such as Guy Adami and Michael Khouw from CNBC, Richard Bernstein from RichardBernstein Advisor, LLC, Abby Cohen from Goldman Sachs, Douglas Cote from ING USInvestment Management, David Kelly from JPMorgan Chase and Tom Keene from BloombergNews.

“By far my greatest takeaway from the event was the understanding of the U.S./globaleconomy which the speakers were able to provide for me,” Hammond said. “It was fascinatingto hear them detail their research concerning various asset classes and markets around the world.Since attending the event, I have used much of the strategy advice I received at the conference inmy own investment research for both my personal account and for SPIFFY.

“As far as career advice, I learned a great deal from talking to analysts about how to separatemyself from my competitors,” he said. “The event was truly eye-opening as I realized how hard Ihave to work if I wish to work on Wall Street someday.” ■

SPIFFY Members Attend Investment Fund Symposium

Left to right: Dylan Bousquet-Smith, Ashley Anastasoff, Bavo Gunther DeGroote, Jonathan Cairns,Professor Bob Strong, Zachary Nichols, Flavio Fetahu, Dan Sullivan, Abigail Davis, Rick Borgman.Not pictured: Garett Williamson, Chris Hammond, Matthew Mulveney, Daniel Kaepplinger


MBSNews

S ix Maine Business School students testedtheir skills during the spring when theyparticipated in one of the world’s most

comprehensive collegiate business competitions— a rigorous challenge requiring them to take -over and run a simulated manufacturingcompany.

Seniors Terri Bas tarache, Andrew Beaupain,Daniel Sipe, Scott Burian and Justin St. Johncompeted in the annual International CollegiateBusiness Strategy Competition in Anaheim,California. Faculty advisers were professors JasonHarkins and John Mahon.

For the competition, students were asked tochoose a product that would sell for less than$10, produce an annual report and 18-pagestrategic business plan, and give an oralpresentation to a panel of judges who served asthe simulated board of directors.

“Our students did an impressive job. Theyrepresented MBS at a very high level,” saidHarkins, who accompanied the group toCalifornia. “They worked together well and werevery much a self-managed team, which is reallyimpressive.”

The MBS students were among 33 teamsfrom business schools in the U.S., Canada,

MBS Students Compete in International Business Competition

United Kingdom and China to participate in theevent, which consisted of a remote phase thattook place in February, March and April, and anon-site — or intensive — phase in Anaheim onApril 25–27. The MBS team competed directlyagainst University of Wisconsin-Eau Claire;Loyola Marymount University in Los Angeles;HEC Montreal; and Missouri Western StateUniversity in St. Joseph, Missouri.

“This was an amazing learning experience forour students,” Harkins said. “They were respon -sible for running a company and building apremium product and a premium brand whilemanaging every aspect of the organization. Theyreally put it all together at the end. The judgestold them they were the only team among theirdirect competitors that could coherentlyarticulate their strategy.”

Deciding to sell cellphone cases, studentscalled their company Lime in the CocoCase.

“We picked the name because we thoughtit represented a fun, exciting and moderncompany,” said Bastarache, who served asCEO of the simulated company.

“We also decided to create a ‘coco code’ —a code of ethics in which we pledged totreat employees right, put customers first,

and be an honest and reputable company.”During the remote phase, students made

quarterly decisions for three simulated years, or atotal of 12 rounds of decisions about topics suchas product price; marketing, salary and transpor -tation costs; finance expenses; and eveninventory storage details. They shared theirdecisions online according to deadlines thatoccurred with increasing frequency over a 10-week period. The team’s performancedetermined the situation their company facedfor each subsequent set of decisions.

During the on-site phase, students completedtheir company’s quarterly decisions, madepresentations to judges and attended an awardsbanquet.

The students said they reaped benefits fromthe experience.

“The simulation allowed us to see firsthandthe consequences that can happen in the realworld,” said Bastarache. “Not only did we get tochallenge our education, but we got to improveour time management and teamwork skills.”

Sipe, the group’s vice president of operations,said, “[The competition] gave me a great chanceto bring together what I have learnedthroughout my years at UMaine. I enjoyeddiscussing the event with other competitors tohear their strategies and what worked or didn’twork for them.”

Burian, who served as vice president ofmarketing, said the team “really stood out at thecompetition.”

“Being able to run a company and makestrategic decisions gave me so much insight intowhat real-world management decisions will belike,” he added. “Through doing salesforecasting and determining marketing goals, Ihave established skills that I will use aftergraduation.” ■

Competing in the annual International CollegiateBusiness Strategy Competition’s Business PolicyGame in Anaheim, California, were seniors ScottBurian, Justin St. John, Terri Bastarache, Dan Sipeand Andy Beaupain.

“Our students did an impressive job — they represented MBS at a very high level.

They worked together well and were very much a self-managed team which is

really impressive.” Jason Harkins


M aine Business School alumna MelissaSmith ’91 shared lessons for asuccessful life and career with a

packed audience of 300 students, faculty, staffand community members in a talk titled, “FromOrono to Wall Street: One UMaine Grad’sJourney” at the University of Maine CollinsCenter for the Arts in April.

Reflecting on the experiences that helpedshape her life including a childhood in ruralMaine, her time at the Maine Business Schooland her career at WEX, Smith presented fivethemes which she summarized as: (1) thinkabout your experiences from your own uniqueperspective, turning them into positives; (2)cherish the people in your life; (3) do whatbrings you joy; (4) realize that sometimes yourexperiences will be hard; and (5) lean into yourfears.

Elaborating on the connections we makewith people throughout our lives, Smithcommented, “Relationships are what you’ll lookback on and realize are of foundationalimportance to you. As you grow and advance inyour career, make sure you keep the connectionswith those who are special to you.”

Smith joined WEX’s predecessor WrightExpress in 1998. After progressively gaininggreater responsibilities and participating inWEX’s growth, she rose to her current positionas leader of the South Portland-based globalcorporate payments company. She is passionateabout growing WEX to create challenging andrewarding careers where employees are able todevelop, contribute and advance within thecompany.

A finance expert by training, she previously

Melissa Smith ’91 President and CEO of WEX, Shares Life Lessons

Student viewsMBS students in business law instructor MarthaBroderick’s Legal Environment of Business classsaid they enjoyed hearing about an MBSgraduate who made it to the top, and came awayinspired and motivated by her message.

“It really just goes to show that with hardwork and perseverance, truly anything ispossible,” said Mitchell Mendonca. “You shapeyour own destiny.”

“Her story is very heroic,” said Paige Lewis.“It was neat to hear a speaker who was a

CEO of a company who not only wasinspirational but also a University of Mainegraduate,” said Sam Jenkins. “I am grateful thatI had the opportunity to see her. I think hermessage was important and worth sharing.”

“She was such an inspiring speaker and gaveme confidence as a woman with a plan to enterthe business world,” said Brianna Demir. ■

played a pivotal role as WEX’s chief financialofficer, leading the company through its initialpublic offering and focusing on its growth as apublic company. Her record of execution,continuous improvement, and increasedresponsibilities for WEX’s business operationsled to her appointment as president of TheAmericas, and ultimately as president and CEOof the entire company. As CEO, Smith hasresponsibility for the company’s day-to-dayglobal operations and its long-term strategicgrowth. She also serves as a WEX boardmember.

Smith is an active member of her communityand was named The Girl Scouts of Maine’s 2013Woman of Distinction, and a Mainebiz 2012Woman to Watch. In March of 2014, she washonored with the inaugural 2014 WomenDriving Payments Innovation Award byPYMNTS.com and W.net (Women’s Network inElectronic Transactions) and was also named to

PaymentSource’s 2014 Top 20 Most InfluentialWomen in Payments list.

Smith serves on the Center for GrievingChildren’s Board of Directors and participates inthe Executive Women’s Forum, which she co-founded to provide a support network for femaleexecutives in her local community. She beganher career at Ernst & Young and earned abachelor’s degree in business administrationfrom the University of Maine.

As a runner and triathlete, Smith hasparticipated in several major races, and co-founded sheJAMS, an organization for womenwho enjoy being active. ■

Flowfold Named Finalist in Business Plan Competition

F lowfold, a Peaks Island, Maine, business co-founded by MaineBusiness School graduate Devin McNeill ’10, was recently selected asone of five finalists in Gorham Savings Bank’s second annual

LaunchPad business competition.Started in 2011 by McNeill and Charley Friedman, a 2010 graduate of

the University of Maine College of Engineering, Flowfold manufacturesand sells wallets and other carrying gear made from recycled high-techsailcloth. McNeill and Friedman created the company with the goal ofusing local manufacturing and reclaimed material to create lightweight anddurable products. Flowfold has grown from an idea into a business withwholesale accounts across the world.

The company was among 130 Maine businesses and startups to

compete for $30,000. Contestants were required to demonstrate a businessplan and need for the funds. An independent panel of judges reviewed eachsubmission and selected the 12 semifinalists. A public vote determinedwhich five companies advanced to the finals where they presented theirbusiness plans at the Live LaunchPad Competition in April. A panel ofjudges selected Bixby & Co. of Rockland as the winning company.

Even though Flowfold didn’t win the grand prize, McNeill said he andFriedman were pleased that the company was named a finalist.

“The process was very competitive and we were honored to have achance to present our business idea. The amount of support we receivedfrom our fans during the voting process was quite remarkable,” McNeillsaid. ■

Melissa Smith


MBA Student David Farrington Is Making a Name for Himself Racing Stock Cars

W hen he’s not studying for his MBA,David Farrington ’15 can be foundindulging his passion for stock car

racing.The Maine Business School student races

every weekend at tracks all over New Englandfrom the beginning of April through the end ofOctober. When he’s not competing, he’s doingmaintenance on his two stock cars which arestored at his home in Jay, Maine.

Farrington, 22, who earned a bachelor’sdegree in mechanical engineering from UMainein 2013, started his racing career with go-Kartswhen he was only seven years old. After nineyears, he graduated to stock cars. During thepast 15 years, he has completed nearly 500 racesin what he calls a local version of NASCAR.

Today, he is making a name for himself onthe stock car circuit.

“In 2013 I had three wins out of 24 raceswhich was huge for me,” he said. “When you’recompeting against 25–30 cars, getting one win ispretty difficult. Also that year I had 10 top fivefinishes and 17 top ten finishes, so I am reallyproud of my record.”

How did you get involved in this sport and how has your racing progressed?

I am a second generation stock car driver. Myfather competed in stock car racing for nearly 15 years and I developed a passion for the sportwhen I was very young. When I won my firstgo-Kart race at age seven he saw my potentialand decided to stop racing himself to focus onmy racing career. I credit him with much of myracing success.

After 276 wins with go-Karts, we decidedwhen I was 16 that it was time to move ontostock cars. My parents were proud of my drivingachievements, but they set a goal for me. If Iwanted to keep racing I had to do well in school.It was my motivation to succeed academically.

My first two seasons in stock car racingproduced several top ten finishes on tracks acrossthe Northeast as far as New York and Quebec. Icompeted on a national level against some of thepeople who have since gone on to becomesuccessful NASCAR drivers. But during the nextcouple of years, my old car prevented me fromgetting the wins I had racked up earlier. Stockcar technology is always changing and evolving,and we found that my old car was no longercompetitive. In 2011 we purchased a new “latemodel” stock car manufactured by DistanceRacing in Fairfield, Maine. We painted the car a

fluorescent orange so it would be easy to spot atnight and chose the number 23 since it had beenmy father’s number. The new car made a bigdifference. That year we ended up with sixsecond-place finishes. In 2013 we decided tobuild a second car so we could have the optionof competing at different tracks in differentdivisions. We purchased a “super late model”car, painted it white and added more horsepowerand bigger tires. We run a Ford engine in our“late model” and a Chevy engine in our “superlate” model.

When did you create your business, DMD Racing LLC?

My parents and I decided to start treat myracing like a business in 2008 when I earnedmore than $10,000. (Prizes for stock car racingrange from $1,000–$50,000). My best year was2013 when I earned almost $19,000. We namedour business DMD Racing LLC after my father,David, my mother, Mona, and me, Dave Jr. Ourbusiness is funded by family members,sponsorships and donations from local com un -ities, businesses and friends. Our 2013 expenseswere about $18,000, more than half of whichwas used to purchase new tires. Our secondlargest expense is racing fuel which costs $12 pergallon. We typically go through 250 ga llons ayear. Maintenance and repair costs as well asentry fees also factor into our total expenses.

Why do you enjoy this sport?

It’s pretty much embedded in my blood and Ilove every aspect about it. The thrill of beingable to drive a race car at speeds over 160 mph atsome tracks is beyond exciting. Also, theopportunity to work on race cars takes you awayfrom everything else happening in the world andyou can just clear your mind and focus simplyon the cars. Maintenance on these stock carsusually takes 20–30 hours per week. I also enjoythe challenges and surprises that are inherent instock car racing. Last fall, my car was wreckedduring a qualifying race at Lee USA Speedway.We talked about going home, but decidedinstead to work all night, up until the racestarted next morning. Somehow we got it backtogether and, believe it or not, managed to winafter starting dead last.

What kind of endurance does it take to race stock cars?

Being a stock car driver is physically andmentally taxing. You can experiencetemperatures as high as 140 degrees. Goingaround corners at 120 miles an hour means youexperience a 3–5 G-force which is your body’sweight multiplied by the force of gravity. So ifyou’re 200 pounds and experiencing a 5 G-force,that’s 2,000 pounds pushing against your bodyfor between an hour and a half to three hours.You also need excellent peripheral vision and to

David Farrington’s first two seasons in stock car racing produced several top 10 finishes on tracks across the Northeast as far as New York and Quebec.

MBSStudent Spotlight


M BS Associate Dean Stephanie Welcomer spent a week in February teaching businessethics and corporate social responsibility to graduate students in the InternationalHuman Resource Management Program at the University of Angers in France.

Welcomer, who has been visiting the university annually for 10 years, said she always looksforward to the experience.

“The students who take my class are from France, Russia, Finland, Poland, Spain, SouthAmerica, Algeria and Morocco, so it’s a global class with very different views,” she said. “We havemeaningful discussions using a variety of descriptive perspectives and prescriptive perspectives toanalyze a wide range of ethical subjects, such as the 1970s Ford Pinto recall case, issuessurrounding marketing to children, Apple’s manufacturing practices in China, and the recentLance Armstrong cheating scandal.”

Conversations are free flowing and engaged, according to Welcomer, who said the class covers15 hours of material condensed into one intensive week. The 24 students — who all speak fluentEnglish — are concerned about ethical issues both in their own lives and around the world.

“At the beginning of the course, I ask them what issues they are interested in and they alwayscome up with a lengthy list including honesty in national leaders, human rights, pollution and— especially this year — immigration,” she said. “Many of their countries — including Russia,France and Poland — are currently debating immigration and integration issues, so studentshave been thinking about the rights of other populations.”

MBS has an exchange program with the University of Angers, which is located in the LoireValley in western France. Welcomer’s visits pre-date the program. She began teaching at theUniversity of Angers after former MBS Dean Diana Lawson asked if she would be interested.

“Since then I have been invited back each year,” she said. “I always appreciate theopportunity to teach in this environment and look forward to my interactions with theUniversity of Angers community. The students and faculty have been very helpful andenthusiastic, so my sessions there have been quite rewarding.” ■

Associate Dean Welcomer Teaches Business Ethics at the University of Angers

MBSNews

stay alert and focused throughout the entire ride.If you’re up front and leading, it can feel asthough the race is lasting forever. If you’re fifthand trying to catch the leaders, it feels like it’sgoing by way too fast.

Where do you race?

In 2013 some reporters called me the “travelingman,” because we race all over the Northeast. InMaine we race at Oxford Plains Speedway,Beechridge Motor Speedway in Scarborough andWiscasset Speedway. We raced more inConnecticut than in any other state. Wecompeted there 10 times in 2013.

When do you practice?

Practice usually happens the day of the event. Afew times a year we rent out a racetrack andpractice there for a few hours. We typically havea camera in the car so we can review the race andsee what we could have done differently.Cameras are thought by some to be a jinx. Somedrivers certainly believe in luck and I am one ofthose drivers.

What role does your MBS education play?

My classes have helped me leverage myaccounting skills which is important since I keepthe books for our racing business. I’ve learnedhow to set up general ledgers and incomestatements and to complete pro forma, which isa report of future forecasted revenues andexpenses. I’ve even been able to incorporate mystock car racing into my academics. Last fall Iwrote a research paper for Professor Patti Milesin which I compared the salaries of NASCARdrivers with those of NFL players over a 20-yearperiod. The professors here are great teachersand really care about making sure youunderstand the material. I have been able toparticipate in a couple of internships during mytime at MBS including at Verso Paper in Jay asan equipment reliability engineer and at GeneralElectric in Bangor as a quality productionengineer.

Where do you see yourself in five years?

I hope to be either a manager of anengineering firm or an engineer with a raceteam, whether NASCAR or another division ofprofessional racing. I still expect to continue torace. If I could find a career path involved withracing that would make the perfect lifescenario for me. ■

Angers is the historical capital of Anjou and was for centuries animportant stronghold in northwestern France.

“The students who take my class are from France, Russia, Finland,

Poland, Spain, South America, Algeria and Morocco, so it’s a global

class with very different views.” Stephanie Welcomer


MBSNews

“While explicit knowledge can be easily transferred in databases and through

email or traditional reports, “tacit” knowledge — resulting from cumulative

experiences, learning and reflection – requires more personal contact through

mentoring, apprenticeships or partnerships.” Nory Jones

Nory Jones Presents Research on Transferring Knowledge in High Velocity/Turbulent Environments

T o be successful, businesses must be able totransfer crucial organizational knowledge.But, as MBS professor Nory Jones told

faculty during a presentation in February, it’s notas easy as hiring smart people and letting themtalk to each other.

Referencing excerpts from “NimbleKnowledge Transfer in High Velocity/TurbulentEnvironments,” an article she wrote with MBSprofessor John Mahon that was published in theJournal of Knowledge Management, Jones notedthere are two types of knowledge: explicit andtacit.

The article has received more than 400online visits since it was published in 2012.

While explicit knowledge can be easilytransferred in databases and through email ortraditional reports, tacit knowledge — resultingfrom cumulative experiences, learning andreflection — requires more personal contactthrough mentoring, apprenticeships orpartnerships, she said.

Tacit knowledge can be difficult to pass onbecause many people don’t know how toarticulate and communicate it and may not evenknow that their knowledge is important orrelevant. However, tacit knowledge can be vitalto decision-making and strategic positioning,especially in a high velocity/turbulentenvironment (HVTE), or stressful situation withrapid and unpredictable changes wheninformation is often unavailable or inaccurate.

Through their research, which includedinterviews with firefighters and militarypersonnel, Jones and Mahon discovered thedifficulty of transferring tacit knowledge in anHVTE. Obstacles to knowledge sharingincluded fear of job loss and a recognition thatinformation and knowledge become obsoleteover time.

In conversations with a Navy Seal and agunnery sergeant in the U.S. Marine Corps,Jones and Mahon found that because military

members go through such intensive training,their knowledge becomes embedded, oftentermed “muscle memory.” But this may inhibitthe knowledge transfer since soldiers often don’trecognize when they are going through a uniquesituation in which an understanding of pastexperiences becomes irrelevant.

“The gunnery sergeant told us thatinsurgents are always coming up with new waysto hide IEDs,” said Jones. “He told us they were‘always a step ahead of us,’” thus making thetransfer of knowledge challenging.

After a crisis situation is over, according toboth military personnel and firefighters, it’scrucial to debrief or write an after-action reportas quickly as possible in an effort to “captureknowledge,” Jones said. However, in an attemptto put a more favorable twist on the situation, acommander may not always reflect everythingaccurately, thereby causing “knowledgecorruption.”

Based on their research, Jones and Mahonhave concluded that explicit knowledge is moreconducive in stable industries where change is

slow and where one has the luxury of time tosearch and query. While in dynamic industriesor HVTEs, command centers with access toreal-time tacit knowledge and intensive trainingare more useful.

In addition, HVTEs require people who canabsorb and adapt tacit knowledge on the fly,while stable environments favor those who knowhow to use and access embedded knowledge.Thus, the MBS professors recommendorganizations train managers to developdecision-making strategies emphasizing thedevelopment of tacit knowledge so they caneffectively deal with crises.

A major challenge for organizations is torecognize when a stable, predictableenvironment has turned into a more chaoticenvironment where tacit knowledge and skillsincrease in importance, Jones and Mahon wrotein their article.

They currently are exploring how culture andsocialization inhibit the transfer anddevelopment of tacit knowledge, including theproblem of corrupt knowledge transfer. ■

MBSAlumni Spotlight


Buffie McCue ’03, Director of Alumni Relations at Husson University

Enjoys Connecting People with Their Alma Mater

M aine Business School alumna BuffieMcCue ’03 is director of alumnirelations at Husson University in

Bangor. The Carmel, Maine, native whomajored in management at MBS, says her jobinspiring Husson graduates to keep in touchwith their alma mater matches perfectly with hertalent for organizing and influencing people.

“I have a strong affinity for finding ways tomotivate people and helping them find creativeways to pursue their own interests while workingtoward a common goal,” she says.

What was your career/educational path after graduating from MBS and what led you to join Husson?

After graduating from MBS in 2003, I was hiredas head cheerleading coach at Husson University.In 2010, I was asked to work with students todevelop a dance team and now I coach bothcheerleading and dance. Also during this time Ibecame involved in the hospitality industry. Iwas part of the team that developed the plan toopen Classics, a restaurant and pool room indowntown Bangor where Hero’s Sports Grillnow is located. I served as general manager forthree years. My time in the hospitality industryled me to become an event planner — a job Ienjoyed so much that I decided to start my ownwedding planning business in 2005. Buffie’sWeddings was launched, and with merely wordof mouth to advertise, we tripled business in justover 12 months. In 2011, I became a major giftsofficer at Husson. Nine months later I wasafforded the opportunity to become director. Iviewed the position as a chance to broaden myskills in building relationships.

Why do you enjoy your job and whatspecifically are your duties?

As a coach, I am blessed with the opportunity toguide young athletes and help them shape theiracademic successes. As director of alumni, Itravel the country to meet with Hussongraduates and hear their stories. Our alumnihave such an appreciation for their degree andfor the doors that have opened for them asHusson graduates. I organize events across thecountry, manage the Alumni Board, work todevelop more Husson alumni chapters in Maineand write an electronic newsletter that comesout every month. One of my most importantduties is talking with current students to helpthem become lifelong ambassadors for Husson. Istrive to educate them about what it means to be

an engaged, committed and generous alumnusor alumna and about the important role Hussoncan play in their lives.

What are the rewards and challenges of your job?

One of the best things about my job isreconnecting alumni with their alma mater andwith classmates they haven’t seen or talked withsince graduation. I also enjoy giving campustours to alumni who may not have seen theschool in more than three decades. They areastonished at all the changes we have made andat how the school has grown.

My biggest challenge is changing the culturefor our alumni and friends. Many of ourgraduates don’t think to come back to campus tovisit or join us for an event. My goal is todevelop a culture of giving and service and toengender a strong sense of Husson pride.

How do you use your MBS education in yourday-to-day duties?

I use the skills and training I acquired from theMBS every day in my job. My managementtraining at MBS has helped me understandpeople’s perspectives and discover different waysto motivate a wide spectrum of personalities.

Something else I learned at MBS is that if weare averse to change, we can’t be successful in thelong term. The solid foundation I received atMBS gave me confidence to go out into thiscompetitive, global, technology-driven businessworld prepared to predict and manage change.

Other critical tools I obtained at MBSinclude time management and organizationalskills, as well as how to think strategically andmanage a budget.

How did you choose MBS?

I was president of my high school class andformer UMaine President Peter Hoff was to beour commencement speaker. He and I werediscussing where I was to attend college. He toldme about the business courses offered at MBSand pointed out the opportunities a businessdegree from UMaine could present. He alsoconnected me with the cheerleading coach. Therest is history. I will be forever grateful toPresident Hoff for inviting me to explore whatMBS had to offer.

What specifically did you like about the program?

MBS professors have experience in the businessworld as attorneys, CPAs and consultants.Instead of citing something from a textbook,they shared their business experiences with us. Itwas a wonderful way to connect with studentsand help excite us about the “real world.”

What are your fondest memories of MBS?

During our final semester we were preparing forour senior project in which we presented a caseto the class and a panel of judges. Our groupended up winning the competition for overallbest project. We were so relieved that all ourhard work paid off.

You are a devoted MBS alumna whoparticipates in the annual networking eventsponsored by the American ManagementAssociation chapter and the University ofMaine Alumni Association. Why is it importantto you to guide students?

Anytime there is an opportunity to connect withstudents is a great day for an alum. It is apleasure to hear their excitement aboutgraduating and be able to provide real lifeexamples based on our experiences in thebusiness world.

What advice do you give to MBS students andrecent graduates about finding a job?

Network and make connections with as manyalumni as you can. There is a strong affiliationamong MBS graduates who want to help opendoors as you transition from the academic worldto the business world. ■

Buffie McCue


Local Entrepreneurs Share Advice with Harkins’ Small Business Management Class

MBS students heard firsthand what it takes tostart and grow a business after professor JasonHarkins invited several local entrepreneurs to telltheir stories during last semester’s Small BusinessManagement class. Speaking to students lastwinter were: Amber Lambke, executive directorof the Maine Grain Alliance and co-owner ofMaine Grains at the Somerset Grist Mill inSkowhegan; Terry Lacy, founder and owner ofOm Land Yoga in Bangor and Orono; PeterDegraff, owner of Bangor Pet Resort & Spa; andSummer Allen, owner of Valentine Footwear inBangor.

Amber Lambke“Starting your own business is not for the faintof heart,” said Lambke, who co-founded MaineGrains, a mill that manufactures all-natural andcertified organic locally grown grains fordistribution at natural food stores, groceries andbakeries throughout the Northeast.

“It’s an incredibly challenging endeavor —you have to be committed to the end goal, nomatter what comes your way,” said Lambke,who aims to preserve and promote graintraditions as a way to rebuild the grain-growingeconomy that was once critical to central andnorthern Maine.

“You have to stay calm through all sorts ofconflict and just put one foot in front ofanother,” she told the class. “Persevere andcelebrate every little success along the way.”

Maine Grains is the anchor tenant at theSomerset Grist Mill which is housed at theformer Somerset County Jail in downtownSkowhegan. The grist mill also houses a farmersmarket, cafe, pickup location for communitysupported agriculture (CSA) deliveries, and acounty wellness program. Referred to as theSkowhegan Food Hub, the building has becomea popular community gathering spot.

The 2007 Kneading Conference inSkowhegan sparked the creation of MaineGrains. The conference, which has become anannual event sponsored by the Maine GrainAlliance, features workshops by farmers, millers,bakers, chefs and wheat researchers — all ofwhom aim to build a grain economy.

During her presentation, Lambke mentionedkey events and dates involved in creating MaineGrains and some of the financial challenges sheand other community leaders faced as theyworked to establish the Somerset Grist Mill andrenovate the 120-year-old jail in which it ishoused.

“We are currently working to strengthen our brand identity by

communicating our unique story and the value of our products to

potential customers throughout the northeast.” Amber Lambke

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Peter DegraffPeter Degraff, owner of Bangor Pet Resort &Spa, never considered running a doggie day careuntil he started searching for a place for hisdaughter’s pet, he told students.

“After researching what it was all about, Idecided it would be cool to own one,” saidDegraff, who purchased the Essex Street businessin 2005 after spending 18 years at sea as amerchant marine.

Purchasing the jail for $65,000 in 2007,Lambke and her business partner, MichaelScholz, spent the next few years obtainingtenants and renovation funds.

“Funding was patched together from avariety of sources,” she said. “We got traditionalbank loans and then started working with SlowMoney Maine, a network of people who provideinnovative ways to finance local food and farmoperations. For example, lenders might chooseto be patient about payback or earn a lowerinterest rate. Our project was the first in thestate to obtain loans from Maine foundationswhich adopted the Slow Money principle callingfor investments in local businesses. Because wewere dealing with natural resources and werehelping to create jobs, we met the missionguidelines of a local economic developmentcouncil. This enabled us to fund three quartersof the project through grants.”

Lambke and Scholz launched the grist mill inSeptember 2012. Today, with six employees andthree floors of equipment that produces stoneground flour, whole wheat flour, oats andheritage variety grains such as barley and faro,the mill is thriving.

“That first year, we processed 100 tons ofgrain from six farmers in Aroostook County andcentral Maine,” she said. “Currently we purchasegrain from 12 farmers from across the state andour goal this year is to process 250 tons ofgrain.”

“During that first year we got our feet wet,learned about production, trained the staff andbecame familiar with Occupational Safety andHealth Administration standards,” she con -tinued. “It feels as though we are just scratch ingthe surface when it comes to the interest that isout there. Our goal is to reach the entireNortheast. We recently secured a commitmentfrom the Whole Foods production bakery inBoston for 10 tons of organic whole wheat flour.Now we’re planning to expand to include moregrains like rye, emmer, flint corn and Red Fifewheat. We hope to continue to drive the pro -duction and demand for organic grains grown inMaine. We think we’ll be able to increase thenumber of farmers since more are starting totake risks and grow different types of grains.”

With the grist mill flourishing, newchallenges have emerged, Lambke said. “We arecurrently working to strengthen our brandidentity by communicating our unique story andthe value of our products to potential customersthroughout the Northeast.

“Our real focus now is expanding ourdistributor relationships,” she continued. “I’mlearning as I go — understanding howdistributors work is a real education. We’reironing out details with new distributors now.”

Hoping to add business tenants at the GristMill, Lambke said, “We’re constantlybrainstorming ways to round out our foodindustry cluster. The facility lends itself to avariety of initiatives. Recently we connected witha local food bank which may have ways ofpartnering with us at our food hub.”

Degraff, a 1987 Maine Maritime Academygraduate who earned his U.S. Coast Guardlicense as Chief Engineer of Steam Vessels andFirst Assistant Engineer for Diesel vessels, saidhe was ready to start a new career. Although hehad no formal business experience, he said theskills and training he got from his shipping yearsstood him in good stead.

“As a chief or first engineer one has tomanage people, schedules and budgets,” he said.

Embracing his new role as entrepreneur,Degraff chose his business name after carefuldeliberation.

“After searching online I saw a few names Iliked,” he said. “I chose this one because itincorporates the city name and, at the time, wasthe first one listed alphabetically in the phonebook. Plus, the name indicates that we are not akennel — we don’t have our guests sleeping incinderblock, chain link cubicle cells. Ouraccommodations are more like little dorm roomswith televisions and toddler beds and heatedfloors.”

Providing day care, boarding and groomingservices to approximately 1,000 customers,Bangor Pet Resort is thriving. Each day,approximately 24 dogs — from pugs to GreatDanes — take advantage of the day carefacilities, Degraff said. The business serves aboutseven dogs each night and as many as 34 a nightduring the holidays. Overnight stays for cats areabout two or three a year.

With help from three employees — two fulltime and one part time — he offers a safe,welcoming and cheerful haven complete withsoothing music and aromatherapy. Testimonialson his website praise him for his animal-friendlyenvironment as well as his genuine love of pets.

“You have to be loving but firm,” saidDegraff, who has three dogs and a cat. “In theend, you just have to let dogs be dogs.”

Facebook is king when it comes toadvertising, he said. “Each day we post multiplevideos of the dogs carousing — behaving andsometimes misbehaving — so parents can seewhat their furry family member is up to andhopefully why the little critter is so exhaustedwhen he or she gets home.”

Enjoying his first foray into entrepreneur -ship, Degraff is proud of how far he has come.

“I started the day care part of the businessfrom scratch,” he told students. “Now, that partis the steadiest and the most lucrative, while thegrooming and boarding services are moreseasonal.”

“Young people should figure

out what their passion is and

then pursue that.” Peter Degraff


“What’s particularly rewarding is being ableto help pet owners who are at their wit’s endbecause their dog is misbehaving,” he continued.“It feels great when we get the dog socialized andwork out its energy and assist owners in properhandling. A month later the owners are thrilledbecause they have a well-mannered and well-behaved addition to their family. Thosemoments are what keep me going.

“But, of course, the best part of owning abusiness is that it enabled me to be with mydaughter during her high school years. I got towatch her grow, both as my employee and as aperson.”

Over the years, he has “learned tons aboutdog and human nature,” he said.

“The hardest part has been trying to keep inmind that Rome wasn’t built in a day. I had suchgreat ideas — all of which I wanted to finishyesterday. Now, some are still on the backburner,” said Degraff, who has made numerousimprovements over the years, including adding alarger play area and suites for dogs that stayovernight.

Launching an interesting and rewardingcareer takes soul-searching, he said. “Youngpeople should figure out what their passion isand then pursue that. With the right attitudeand a lot of diligence, they will be able to find away to make their passion pay the bills.”

If they are drawn to the teachers, they’ll be ourstudents for life.”

Business was slow at first, but Lacy wasdetermined, he recalled.

“That first year we had an average of 10clients a week,” he said. “Sometimes there wouldbe only one or two people in a class. But, luckily,year by year, we grew a little more and then alittle more. It has all worked out.”

Today, with 15 teachers who provide variouslevels of classes to about 300 clients, Om LandYoga has become a popular retreat for people ofall ages and abilities. In 2011 Lacy started ateacher certification program, which provides asteady stream of professional teachers for thestudio. In 2013 he opened a second location indowntown Orono with University of Mainestudents in mind.

Finding a space for the Bangor studio waseasy, he said. “Our current location at 9 CentralStreet was the first place I looked at. It’s on thefourth floor of a corner building with lots of foot

MBSNews

Terry LacyCo-owner and founder of Om Land Yoga, TerryLacy opened his studio — then called CentralStreet Yoga — in downtown Bangor in 2007.

“Bangor had no dedicated yoga studios at thetime, so talk about the perfect niche market,”said Lacy, a former dancer with the New YorkCity Opera Ballet who moved to Maine for amore balanced and peaceful life. As a longtimeyoga fan, the idea of spreading the word aboutthe ancient system of breathing practices,postures and meditation appealed to him.

“When I saw that no one else was teachingyoga here, I thought, ‘Maybe I can be the first,’”said Lacy, who founded Om Land Yoga with hispartner, Eric Sirois.

Perched on a desk in front of the class, Lacyinstructed students to sit on the floor and takeoff their shoes as he led them in a yoga sequencebefore sharing the history of Om Land Yoga andthe ins and outs of owning and managing thestudio.

“There are two big factors to consider whenyou open a yoga studio — atmosphere andteachers,” he told the class. “The atmospheregets people first. It’s the first thing theyexperience when they walk in the door. Theycome for the music, the incense and thecommunity. But it’s the teachers who keep them.

“Bangor had no dedicated

yoga studios at the time, so

talk about the perfect niche

market!” Terry Lacy

traffic. The 1,300-square-foot studio is linedwith windows. When I walked into the room forthe first time, the light was streaming in, and itjust felt like the right space.”

Previously used as a children’s theater andkickboxing studio, with 100-year-old windowsthat had never been changed, the room neededrenovations.

“A contractor who was a dancer I hadpreviously worked with agreed to renovate thespace. I had the ideas, he executed them and it’sworked out really well. We created what wethought was a really nice home and, over theyears, others have agreed,” Lacy said.

Obtaining teachers was more challenging. “There weren’t a lot of practicing yoga

teachers here,” he said. “I knew the businesswould not survive with just me as a teacher. Itwouldn’t be prosperous and active, and itwouldn’t be good for the community. Peoplegravitate toward different types of teachers.”

Lacy ended up meeting a trained yogateacher, and eventually found two more peoplewho agreed to become certified through atraining program in southern Maine.

“That program was OK, but we knew wecould do better,” he said. “So, we started ourown teaching training program and now weproduce our own staff which is really, really nice.It’s also a big part of our profit margin.”

All teachers are independent contractors whoare paid 50 percent of the earnings from theirclass.

Aiming to make yoga accessible andaffordable, Lacy charges $12 per drop-in session.Also helping boost attendance are low-costmonthly memberships and a bookkeepingsoftware program. The monthly membershipsenable him to populate the studio and provide acommunity for the drop-in clients who providemost of the financial support.

“In yoga, community is especiallyimportant,” he said. “We have found that ifthere are 20 people who are having a good time,and someone drops in and sees this, he or shetends to think, ‘Here are 20 happy people — Ithink I’ll stay.’”

Attendance and profits increased after thesoftware program was implemented.

“This enabled us to take credit cards andpeople to purchase memberships online andregister for class. It also has cut down on ourbookkeeping time. It used to take us a full day tofigure out the payroll. Now we can do it in 30minutes,” Lacy said.

Always ready to try new ideas, Lacy hasbegun offering hot yoga sessions where the roomis heated to about 100 degrees. He also offersprivate yoga instruction, workshops and otherspecial events, as well as a wellness package withunlimited yoga and a monthly massage.


Summer AllenRunning a women’s shoe boutique is all aboutmultitasking, said Summer Allen, owner ofValentine Footwear in downtown Bangor.

“There are so many important piecesinvolved,” she said. “Sometimes people willcome in and say, ‘Oh, you get to play with shoesall day, you must have so much fun.’ But that’s

Over the years, yoga classes have cropped upelsewhere in the area, but Lacy says Om Land’sunique atmosphere sets it apart, and he believesthe more people who encounter yoga, the better.

“We figure people will say, ‘Where can I findmore?’ and come over to our studio,” he says.“But, even if they don’t, we prefer to havecompetition so more people have a path to aneasier life through yoga wherever it may occur.”

not what owning a shoe store is about. It’s moreabout managing your time, your employees,your products, your bills and your customers.You have to be able to switch gears quickly andgo from mopping the floor to answering thephone to talking with a customer. You’re dealingwith so many things at once that it’s easy tobecome disorganized.”

Opening Valentine Footwear in 2011 aftershe was laid off from her grant-writing job, Allennever saw herself as a small-business owner eventhough her family has owned Winterport BootShop in Brewer since 1974.

“I knew I never wanted to run my father’sshoe store,” she told students. “But the mostimportant thing I found through opening myown shop is that I really was interested in smallbusiness — just not necessarily his business. So,if you did grow up around a small business andthink, ‘This will never be me,’ maybe there’ssomething else you can take from thatexperience and do it in your own way.”

Growing up in Winterport, Allen said shealways believed downtown Bangor needed a“nice women’s shoe store — one that is not sohigh end that the merchandise doesn’t sell, butnot so low end that it competes with discountstores.”

Satisfied that her fun and funky boutiquefills that niche, she calls Valentine Footwear “aclassic shoe store experience with a moderntwist.” The store offers more than two dozenbrands of shoes, boots, socks, tights, shoe careproducts and more, such as Maine-made leatherbelts and jewelry. She features lines such asBirkenstock, Frye and Born.

Located in an office building on Main Streetbetween Penobscot Theatre Co. and Best Bib &Tucker, Valentine Footwear is in an ideal spot,according to Allen, who said downtown Bangoris experiencing a resurgence.

“The best way to foster business is whenpeople are wandering from this place to thatplace and running around on their lunch break.It only took me a couple of weeks to startgetting repeat customers who are positive aboutthe Bangor economy and want to shop local,”she said.

Her average customers range in age from 30to 60 and are mostly working women who traveland are willing to pay for quality items that are“more expensive than the big box stores, but notoutrageous.”

“Most women in this area want somethingcomfortable but they aren’t about to sacrificestyle,” she said. “They want to look put-together, with shoes that go with theirprofessional clothes.”

Preparing to open her business took time andsoul-searching, according to Allen whograduated from the University of Maine in 2003

with a degree in environmental managementand policy.

“I spent many months doing market researchto determine the type of customer I wouldappeal to, what items I would sell and for howmuch, and who my competition would be,” shesaid. “You have to educate yourself and makeyour business unique. Customers have so manyoptions. I knew my No. 1 competition wasZappos and other online stores. But I also knewthat people still prefer to try shoes on beforethey buy them.

“When I wrote my business plan, I knew Iwanted my shop to be comfortable and to lookhigh end for this area, which is a very differentthing than high end for Fifth Avenue inManhattan.

“I also knew I wanted it to be a funexperience for my customers and to have asalesperson on hand who could answerquestions. When you’re shopping at a smallbusiness, you have to trust that the salespersonknows a lot about the item. Once I settled onwhat I wanted my place to look like, I figuredout what people wanted to pay and what type ofproduct they wanted.”

Proud that her business is turning out asplanned, she has still encountered a surprise ortwo. “I had the idea that for the first year I’d doeverything myself so I wouldn’t have to worryabout paying anyone,” said Allen who has twopart-time employees as well as a part-timebookkeeper.

“In the end, I hired someone even before Iopened because I realized I would need anotheremployee to provide the type of service that Iwanted for my customers and to keep my ownwork load balanced,” she said. “Most of thework involved with owning a shop is notglamorous and it’s behind the scenes, so I neededanother reliable person to make sure I didn’tfocus only on the office stuff and run myselfragged. If you don’t love your work, you’re notdoing your customers any good.”

“Another thing I never thought about in mybusiness plan is how long it takes to put awaythe shoes that people try on. It takes a lot oftime and it’s really boring. There are alwaysgoing to be things that you forget to plan for.”

In the end, Allen loves owning a women’sshoe store.

“When you are selling items that people puton their bodies, it is a uniquely personalexperience,” she said. “I have some wonderfulcustomers. There’s a mother, daughter andgranddaughter who I always love to see — threegenerations all buying shoes and lovingly pokingfun at each other. It’s just hilarious. It’s like beingin a family’s living room and getting paid tohang out with them. I have developed someamazing relationships. That’s the fun part.” ■

“It only took me a couple of

weeks to start getting repeat

customers who are positive

about the Bangor economy and

want to shop local. “ Summer Allen


“My business degree has given me more confidence; I feel better

able now to take more risks and initiative and look for ways

that I can stand out.” Lisa Daniel with son Ryan


F or Maine Business School graduate LisaDaniel, earning a bachelor’s degree inmanagement in 2013 was an achievement

10 years in the making. “I took it slowly — one class each semester

for 10 years,” said Daniel, an administrativesupport supervisor in UMaine’s College ofEducation and Human Development. “Thatschedule worked well for me; allowing me tofocus on each class, hold down a full-time joband still find time for my family.”

Daniel, who has worked at UMaine invarious capacities since 2000, said hersupervisors were unfailingly accommodating andsupportive of her educational pursuits.

“They allowed me to be flexible with mywork schedule so I could attend class. I willalways be grateful to them,” she said.

Daniel lives in Old Town with her husbandDavid and their two dogs. Their son Ryan, whoearned a degree in secondary education last year,graduated from UMaine with his mother.

“Commencement 2013 was a proud time forboth of us,” she said.

What has been your education/career pathwayand why did you want to earn your businessdegree?

I spent most of my childhood in Washington,Maine, a small rural town outside Augusta. Aftergraduating from high school in Waldoboro, Iearned an associate degree in businessadministration from the University of Maine atAugusta and then decided to start a family. Afterhaving my son, I went back to school and earnedan associate degree in medical laboratory scienceat UMA and worked as a medical lab technicianon a per-diem basis for a few years. Working ona per-diem basis allowed me flexibility in mywork schedule so I could spend more time athome with my son. I started working at UMaine

Lisa Daniel ’13 Earns Business Degreeafter 10 Years

in 2000 at the National Center for StudentAspirations (NCSA) in the College ofEducation. While at the NCSA, I decided tostart taking courses toward my bachelor’s degreein business management. During this time Icontinued to grow and develop in my position,and when I had an opportunity to advance, Idecided to take on a new role in the Division ofLifelong Learning working for the dean. I thenadvanced again into a position at the Office ofDevelopment. I left there in 2011 to return tothe College of Education. Now that I havecompleted my bachelor’s degree, I hope to havemy own business one day, and I know that theskills and training I received at MBS will helpme in that endeavor.

What does your current job involve and why doyou enjoy it?

I handle all the financial and human resourcesmatters, as well as supervise four work-studystudents and one support staff member in theTeacher and Counselor Education Department.I enjoy my current job because every day I learnsomething new. There are always new processesand/or procedures to learn, as well as personnelissues to deal with. Learning new, creative waysto handle issues keeps me busy. My currentposition as a supervisor also allows me to besupportive of others around me and to providethem with the necessary tools and resources tobe successful and to help provide a positiveworkplace environment.

During my time in my supervisory post, Ihave come to realize that everyone has a differentmeaning of success. For some, it means reachinga certain level within their career and stayingthere, and for others it means learning all theycan and moving on to more challenging work.Being able to help others become successful —in any way — gives me great satisfaction.

How does your business degree help you inyour day-to-day duties?

My degree in management has strengthened myleadership, communication and problem-solvingskills and provided me with new techniques andtools. It’s helped me take a look at my ownmanagement style and figure out how to adaptto today’s current workforce. For example, I ammore aware now of the generational differencesin communication styles. Younger employeesmay not be as comfortable talking face to facesince they have grown up using texting andemail as the primary means of communicating. Ihave learned that, as a manager, I need to be ableto adapt the way I communicate to eachaudience and each situation and consider how Iwill be most effective.

My business degree has given me moreconfidence; I feel better able now to take morerisks and initiative and look for ways that I canstand out.

What was it like being a nontraditionalstudent?

I found it rewarding because I was old enough toreally appreciate the importance of getting mydegree, while at the same time intimidatingbecause I was the older one in a classroom full oftraditional aged students.

What will you remember most about MBS?

The people I met and the friendships Ideveloped were the highlights of my time atMBS. I enjoyed the diversity of the faculty whowere from across the globe and whoseexperiences in the real-life business worldenriched their instruction.

I will always be proud that I was able tograduate with honors. ■


The University of Maine Annual Fundoffers alumni, parents, friends, facultyand staff an opportunity to support themost immediate needs of the MaineBusiness School.

Gifts from the Annual Fund can beused to support student programs, suchas travel and internships, academicscholarships, facility improvements,technology enhancements and other areasthat help the Maine Business Schoolmaintain its reputation for excellence.The dean of the Maine Business Schoolrelies on the Annual Fund to takeadvantage of special opportunities and tomeet urgent needs. As costs continue torise and public support remains flat, yourgift will help ensure that the MaineBusiness School remains a source of prideand inspiration to alumni as well ascurrent and prospective students.

Making a gift to benefit the MaineBusiness School is simple. You can makea secure and convenient gift online(umaine.edu/business) by selecting theDonate Now menu option. Alternatively,you can call our gift processing office at207.581.1148 or toll-free at866.578.2156.

Gifts of $1,000 qualify donors formembership within the President’s Club.President’s Club members are invited toan exclusive brunch over HomecomingWeekend and receive a special pin.

For more information about givingopportunities within the Maine BusinessSchool, contact Janet Kolkebeck at207.949.1229.

Thank you for your support.

P hysicians today need strong businessskills, said Dr. David Carmack ’14, anMBA student focusing on finance at the

Maine Business School.“Traditionally, physicians practiced

independently and were able to functionsuccessfully as they worked side by side withhospitals and health care organizations,” saidCarmack, an orthopaedic surgeon at EasternMaine Medical Center in Bangor.

“But now health care is undergoing atransformation. With increased costs anddwindling insurance reimbursements onsurgeries and clinical care, more and morephysicians are finding themselves part of healthorganizations, which function like corporations.So it’s important that physicians have training inbusiness strategies, business operations, andbusiness finance and management so they canbetter understand the economic and financialaspects of medicine. Over the years, I was able tolearn some business skills on the job, but Iwanted to enhance and formalize them throughan MBA,” Carmack said.

Carmack, who has been taking one nightclass each semester since 2010 and plans tograduate in August, said pursuing his MBAhelps him be a more informed physician andhealth care leader.

“My motivation is to be a more effectiveclinical physician, a more effective physicianleader, and a strong business innovator within

MBA Student David Carmack ’14 Uses Business Training to Enhance Medical Practice

our organization so I can help the payers realizethe value and costs of excellent clinical care,” hesaid.

MBS was a good fit from the start, accordingto Carmack, who, with his pediatrician wife Dr.Adrienne Carmack, has six children ages 14–21.

“We are busy with work and family activitiesso it was logical to attend school part time atnight,” he said. “Everyone here has beenwelcoming. The professors are excellent, andworking on team projects with students who arenear my kids’ ages has been great fun.”

On his way to Niclas Erhardt’s Managementof Contemporary Organizations class, Carmacksaid he was enjoying “learning a whole newlanguage.”

Skills he has learned from his MBS classeshave been directly applicable to his clinical andleadership duties at the hospital. A project hewas working on in management professor JohnMahon’s capstone strategy class jibed perfectlywith one he was involved with at the hospital.The project looked at supply chain economicsand the benefits of standardization to increaseclinical quality and control/decrease direct costsin the operating room.

“I crafted a proposal for the EMMC projectand used it for my MBA class,” he said. “I wasable to get valuable input from students andfrom Dr. Mahon. I took their comments back tomy team at the hospital, and we were able tosuccessfully get the initiative off the ground.” ■

David Carmack

M aine is a great place to start anew business, said DesmondFitzGerald, entrepreneur-in-residence

for the Maine Venture Fund, and keynote speaker at“Making it in Maine,” the first Black Bear BusinessConference hosted by the University of Maine AlumniAssociation and sponsored in part by the Maine Business School last April.

“There is startup business help here in Maine that is wanting — in fact,waiting — to be activated,” FitzGerald told the audience of more than a100 alumni, business owners and entrepreneurs, UMaine students, facultyand staff who gathered at the Buchanan Alumni House.

The half-day event was aimed at showcasing university resourcesavailable to help Maine entrepreneurs further their business plans andaspirations: MBS, Cooperative Extension, Foster Center for StudentInnovation, Target Technology Incubator, Advanced ManufacturingCenter, Innovative Media Research and Commercialization Center, theSchool of Economics, UMaine Composites Center, Process DevelopmentCenter and Forest Products Laboratory. The conference also featured

facility tours and a panel of Mainebusiness owners who discussed their

experiences and provided advice on successfullycreating a new business.

Working with the MVF, a state-funded organizationwhich finds and mentors startup businesses with potential for

growth, FitzGerald said he has come to realize that “Maine has a far morerobust community of funders and business assistance agencies andorganizations than I ever thought.”

Noting UMaine’s “diverse and multidimensional resources that everybusiness person in Maine should take advantage of,” he listed numerousstate organizations and agencies that provide funding and assistance fornew businesses. These include the Maine Department of Economic andCommunity Development; Blackstone Accelerates Growth; the MaineCenter for Entrepreneurial Development and their many initiativesincluding the Top Gun Program; the Maine Technology Institute; CoastalEnterprises, Inc.; Maine Angels; the Finance Authority of Maine; and theMaine Venture Fund.


MBS Helps Sponsor “Making It In Maine,” the First Black Bear Business Conference

Hosted by the UMaine Alumni Association

MBSNews

“The thing about luck — a close cousin to timing — is that it is not available

if you retreat and don’t try. To be a recipient of it requires that you be

in the game.” Desmond FitzGerald


MBS Students Develop Idea for Black Bear Business Conference

T he first Black Bear Business Conference, hosted by theUniversity of Maine Alumni Association and sponsored in partby the Maine Business School, was the brainchild of three

recent MBS alumni. Daniel Kaepplinger ’14, Nikita Kacer ’14 and Charles “Chuck”

Hastings ’13 (MBA) were student interns at the University of MaineAlumni Association (UMAA) in 2012. While helping organize theBlack Bear Network (BBN), an online database that connects UMainestudents and alumni to discuss career pathways and job availability, thestudents decided a conference could demonstrate how the network andother university resources can help Maine’s small businesses succeed.

“Our goal was to give students and alumni the opportunity tointeract and exchange ideas, as well as to showcase the BBN and all theservices at the university that are there to help student and alumnibusiness owners and entrepreneurs,” said Kaepplinger.

“We thought it would be good to create a large-scale event thatwould grow over time and create value for the community and thestate,” said Hastings. “We saw this as a way to help promote economicdevelopment in Maine.”

The students shared their vision with Todd Saucier ’93, ’97 (MBA),executive director of the UMAA; Susan Mullaney, director of marketingand communications for UMAA; MBS Dean Ivan Manev; and severalbusiness school faculty members. Using LinkedIn, they also reachedout to alumni for feedback.

“Everyone was enthusiastic,” said Kaepplinger. “So in the spring of2013 we hit the ground running and started putting the piecestogether. It’s great to know that we were able to bring our vision tolife.”

Mullaney praised the students for “uncovering a real market needand proposing a practical solution.”

“Their biggest contribution was that they were able to demonstratethe feasibility of their concept to UMAA and convince us to devote thetime to pursue it,” she said. “We were able to bring the proposal toother areas at UMaine and bring an implementation committeetogether using most of the interns’ ideas. This is a great reminder ofwhat the fresh perspective students have to offer can achieve.” ■

Charles “Chuck” Hastings ’11, ’13 (MBA); Nikita Kacer ’14;and Daniel Kaepplinger ’14

“What makes us different from most other venture capital groups isthat we are state funded, and born into our DNA is the goal of helping tocreate meaningful ‘making it in Maine,’ if you will, jobs,” said FitzGeraldwho has worked for MVF since 2012. Over the years, MVF has investedin more than 50 companies and currently works with 23 Maine companiesinvolved in everything from lumber drying machines, fashion and windenergy to compost, life sciences and guitar and food making.

MBS Professor Jason Harkins helped organize the first-ever Black BearBusiness Conference while student members of the American MarketingAssociation (AMA), whose adviser is MBS professor Harold Daniel,handled logistics and promoted the event to fellow students. Explaining tothe audience that MBS faculty and students work with business ownersand CEOs to help them learn to manage their companies, Professor PattiMiles said faculty “don’t just teach out of a book,” but bring businessowners into their classes so students can learn firsthand the challengescompanies face. In addition to analyzing the issues facing specificcompanies and presenting recommendations to owners who often use theiradvice, students have opportunities to develop their own business ideas andlearn the challenges involved with starting a new business and how to pitchtheir ideas to potential investors, she said.

FitzGerald, who co-taught a class on “Leadership for the 21st Century”at MBS in 2007, is himself an entrepreneur who founded or co-foundedcompanies including Ducktrap River Fish Farm, Dirigo Wind andBlueMarvel, Inc., and has worked as a CEO and management consultant.In 2008 he became vice-president of business development for PrinciplePower, Inc., a deep-water wind technology company based in Seattle,Washington.

Something else FitzGerald said he has learned during his time at theMVF is that there is a plethora of successful Maine companies in additionto the more familiar ones like Cianbro and L.L.Bean. He noted examplesincluding a restaurant in Rockland whose owner is the only chef to everwin the James Beard Award twice; a company based in Brunswick hired tomanage event planning and operations by the public safety community inNew York City for the 2014 super bowl; and a multinational companybased in Portland with more than 7,000 products including the felt formost of the world’s tennis balls.

Help is out there, but entrepreneurs have to do their part, saidFitzGerald. Citing the three “essential elements to success,” he called luck“an important ally.

“The thing about luck — a close cousin to timing — is that it is notavailable if you retreat and don’t try. To be a recipient of it requires that yoube in the game.”

Business owners also should realize that nothing replaces hard work andthat the foundation of a successful company is honesty — with themselvesand their co-workers, customers, vendors and investors.

Recounting what he learned from his own business failures andsuccesses, FitzGerald advised entrepreneurs to resist debt, but not be afraidto look for capital; network, listen and learn everything you can; create abusiness plan, but be able to adapt to change; understand that just becauseyou can’t shake an idea for a business startup doesn’t mean it has merit; hireinitially to compensate for your weaknesses; and strive to be yourcustomers’ best vendor.

“Get started!” he said. “The path to make it is the fun of it all.” ■


MBSAlumni Spotlight

Dan Namowitz ’98, ’99G Writes for World’s Largest General Aviation Association

interesting and exciting stories. It never getsold.”

What was your career path?

Among other things, I served as press officer forthe New Hampshire State Senate for a year, wasNew Hampshire correspondent for NewEngland Business Magazine in the early ’80s,and did occasional commentaries for MainePublic Television’s old “Media Watch” program.I also worked at Putnam Investments during abrief foray into the world of finance afterearning my MBA, when Putnam was running awork-at-home project in Maine. So at that timeI had two jobs — both home-based — one infinance and one as a writer. One little homeoffice, two desks. I spent a lot of time in thatlittle room.

Why do you like your job writing for AOPA?

I work with the best team in the business. Thetwo editors I confer with on a daily basis arefirst-rate professionals as well as great writerswho are immersed in aviation. Most AOPAwriters and editors are pilots and/or flightinstructors. Like any news organization, AOPAhas writers like me who are generalists as well asthose who specialize in such topics as turbopropaircraft, aviation weather, or new aviationproduct development. Writing for AOPA is awonderful challenge because I am addressing awell-informed, sophisticated audience, and Ihave to be on my game. If I’m not, they’ll let me know.

How did you become interested in learning to fly?

My uncle was a World War II fighter pilot so Igrew up with stories and pictures, although Inever thought it was something I would do. In

1981, as a city reporter for the NashuaTelegraph, I covered the air traffic controllersstrike; the Boston air route traffic control centerwas located in Nashua. Later, I asked someoneon the Nashua City Council who was an airlinepilot how a civilian would go about becoming apilot. He told me that a new flight school hadopened at the airport in Nashua. I ended upbeing in one of the school’s first ground schoolclasses. So, while I always had a curiosity aboutflying, like a lot of people, I never realized it wasso accessible. I just happened to ask the rightperson. I soloed for the first time in January1985 in a two-seat, 110-horsepower Cessna 152.It was an exhilarating experience. Even now,each time I take off, I feel that same excitementand fascination.

Why did you want to earn a business degree?

I started at MBS as an undergraduate financemajor in 1996 when I was 43. In addition towriting for AOPA, I was working as a part-timepilot and flight instructor for Acadia Air at theairport in Trenton, near Bar Harbor — jobs Icontinued all through my undergraduate andgraduate years. As an independent contractor, Iknew I had to address issues about such things asmanaging my finances, taxes and retirementplanning. Also, I thought business school wouldbe a nice departure from my years in newswriting.

I had taken some classes at City College ofNew York, but had been out of school for manyyears, so of course I had reservations. But, then-Dean Virginia Gibson was encouraging andwelcoming when we met to talk about enteringthe program. She made me feel as though Icould do it. I enjoyed my time here, and aftergraduation, I decided to continue on to earn myMBA, which seemed like a natural progression,

A viation journalist and MBS alumnusDan Namowitz ’98, ’99G has aflourishing career that combines his love

for writing and flying.A licensed commercial pilot for single and

multi-engine airplanes since 1985 and a flightinstructor since 1990, Namowitz is a freelancewriter for the Aircraft Owners and PilotsAssociation (AOPA), the largest and mostinfluential general aviation association in theworld. Based in Frederick, Maryland, AOPAworks to educate pilots, aircraft owners andaviation enthusiasts; support activities thatensure the long-term health of general aviation;and ensure that the interests of its nearly400,000 members are promoted and safeguardedat all government levels.

The days are packed for Namowitz, a formerreporter and editorial writer for newspapers inMaine, New Hampshire and Massachusetts.Working from his home in Bangor, he writesfeatures and daily news articles for AOPA’swebsite, email newsletter and print magazines,helping members stay updated on the generalaviation world. He also writes weekly flighttraining columns for advanced pilots and forstudents working on their private pilotcertificate.

Last fall, AOPA published the first e-bookcompilation of his columns, “Flight Training’sTraining Tips,” which is available for the Kindleon Amazon.

“It’s wonderful to be able to write aboutsomething in which you have expertise,” says theNew York City native who has been with AOPAsince 1990. “There are lots of pilots and lots ofwriters, but few people who do both. It’scertainly a media niche and I’m happy to be apart of it. I never know what issues will come upfrom day to day, and I get to cover some really

“My MBS education would be a huge help to anyone running his or her own business.

The skills and training I received at the Maine Business School taught me how make

sound financial and management decisions.” Dan Namowitz at the Hampton, N.H., airport


and which the flexibility of working as afreelance writer made possible.

In those days, before the Internet hadbecome such a dominant form of mass media, Iwrote mostly for print publications on a lesshectic schedule than today. These days my workis much more like the old days writing for dailynewspapers on very short deadlines. But I lovethe excitement and challenge of that kind ofpressure to get the story out.

How does your MBS degree help you today andwhy did you like the program?

My MBS education would be a huge help toanyone running his or her own business. Theskills and training I received at MBS taught mehow to make sound financial and managementdecisions.

One concept MBS was emphasizing was theteam concept of organizations.

I enjoyed my classes. I had good professorswho made the subjects interesting andchallenging. During the late 1990s, the stockmarkets were heading toward a bubble, defyingthe conventional wisdom that had been taughtfor many years. So it was interesting getting myprofessors’ perspectives. There was a lot to talkabout.

I came to appreciate how important it is tounderstand the major private- and public-sectorfinancial institutions. Frankly, if I had receivedmy business education before I ever became anews reporter, I would have asked differentquestions and handled many stories differently.News people aren’t always numbers people, sothey tend to emphasize the political perspectiveof the news, and readers don’t always get the realsubstance of the story, in my opinion.

What are some of your fondest memories ofMBS/UMaine?

I enjoyed meeting students from all over theU.S. and from around the globe. There wereclassmates from Thailand; former SovietRepublics including Moldova and Kazakhstan;Morocco; Korea; and Germany, to name a few. Ikeep in touch with a number of classmates andprofessors. I also was a flight instructor for theUniversity Flying Club, and I really enjoyedbeing part of an organization that is dedicated toproviding an affordable way for students andcommunity members to learn to fly and haveaccess to an airplane.

I also edited an edition of the MBS Review,the business school magazine that, at the time,published several scholarly papers written byfaculty members. And I had the honor of beingnamed to the MBS Student Advisory Board. Mytime at MBS was a great experience. ■

MBSNews

A dvanced managerial accountingstudents grabbed mixing bowls andspoons last semester as part of lecturer

Wendy Coons’ granola-making exercise thatrequired them to apply cost methodologiesthey learned in the classroom.

“My goal was to have them put principlesto purpose in a real-life scenario in which theyhad to figure out the cost of creating aproduct without referring to a neatly givenexample in a textbook,” said Coons.

The 19 juniors and seniors — allaccounting majors — were divided into self-organized and directed teams. A raw materialsdepartment doled out the ingredients to thethree production groups that made andpackaged the granola bars, and a finishedgoods department stored the granola barsuntil they sold.

“The idea also was to get them to workeffectively in teams, which is a Maine BusinessSchool learning goal,” said Coons.

Each group had its own assignment.Students in raw materials recorded the cost ofmaterials issued into production and recon -ciled the ending materials inventory. Usingprocess costing, those in the work-in-processgroup tracked the costs of the materials, laborand overhead as the bars were being produced,and reconciled the ending work in processinventory. The lone student in the finishedgoods department served as quality control

inspector and recorded the bars that were soldto Coons who posed as a customer andpurchased granola bars at several pointsthroughout the class.

“At the end of the accounting period, wemade a rough calculation of the cost of eachfour-bar bag and added a 50 percent markup,”said Coons. “We made sure that this pricejibed with what one might expect to pay for asimilar product in an upscale shop.

“During the next class, students give metheir final cost reports. Then, we tie it alltogether. We sit down and reconcileeverything and show that the cost of thematerials we started with, plus the costs oflabor and overhead, equals the cost of the barswe sold and the cost of the inventory wehaven’t completed or sold.”

A member of the MBS faculty since 2000,Coons regularly includes experiential learningactivities in her classes.

“Ultimately, students learn by doing,” shesaid. “Experiential learning develops creativity,piques curiosity and helps studentsunderstand how to apply what they’ve learnedin unfamiliar circumstances. As instructors,we spend a lot of time teaching concepts andprinciples. But when students can apply theseto a purpose, they can synthesize informationand really understand it much better. This isgreat preparation for the business world when

Students in Wendy Coons’ Class Learn by Doing

A member of the MBS faculty since 2000, Wendy Coons regularlyincludes experiential learning activities in her classes.

Wendy Coons continued page 20


A fter graduating in August with hisMBA, Christopher Dunn ’14 will wasteno time starting his next endeavor. In

September, the Auburn, Maine native will enterthe University of Maine School of Law topursue a concentration in business and financialservices law.

“I have always been intrigued by the legalsystem, its intricacies and how it works topromote justice,” said Dunn, who earned abachelor’s degree in economics and two minorsin business administration and resource

economics and policy at the University of Maine in 2012. He completedhis MBA program in one year by taking summer classes and acceleratingthe coursework.

“Getting a law degree on top of my MBA will allow me to access aniche market and differentiate myself from other corporate professionals,”he said. “I believe the diverse skills I obtained through completing myMBA and that I will ultimately obtain through my JD will make meextremely desirable to potential employers. As an attorney, it will help toknow the ins and outs of the business world and to be able to use theleadership and management skills I acquired at the Maine BusinessSchool.”

Why did you want to earn an MBA?

I wanted skills and training that would be useful in a real-world businessenvironment. With a background in economics, I learned a lot of theory.But I was interested in seeing how that theory applies and what actuallyworks or doesn’t work in the marketplace. You can have all the charts andgraphs in the world — if they don’t work in the real world, what do theymatter? Applying theory and strategy to solving real-world businessproblems is a valuable skill that the MBS has helped me develop.

What was your career path after earning your economics degree?

After graduation, I worked as a secondary market analyst at Bangor Savings


MBA Student Christopher Dunn ’14 Heading to Law School

they won’t be able to refer to a textbook. In reallife, where there’s a great deal of uncertainty,students need to know how to makeassumptions and come up with estimates theycan communicate to management.

“In the end, it not only challenges students,but it also challenges me as an instructor,” shecontinued. “I don’t have a solutions manual forthis. I have to look at their reports and listen totheir assumptions to see if they are reasonable. Ihave to be willing to say, ‘I don’t know theanswer to this, so let’s think it through.’”

The room was abuzz with activity as students

mixed, shaped, cut and wrapped the bars whileconferring with each other about costs andamounts.

“This type of interaction is lots of fun,” saidstudent Katie Hathaway who was on anassembly line. “We always do a lot of cool thingsin this class.”

“I enjoy learning by doing,” said herteammate, Kyle Morrison.

Reflecting on his experience after class,Arthur “Dodge” Tucker, who was in charge ofthe finished goods inventory, said, “There was alot going on in that small classroom during the

exercise. I can only imagine what it is like at amassive food factory. I learned that noteverything goes smoothly even in a verystructured manufacturing environment like wehad. As a professional, you have to be on yourtoes at all times and be able to react to events.”

Brandon Briggs said he gained teamworkskills as well as a better understanding of how tocreate a product.

“Professor Coons always comes up withinnovative ways to teach us the fundamentals,”he added. ■

Bank until I started my MBA classes. I sold mortgages to investors andhelped determine the optimal interest rate pricing. Last semester I was ableto complement my MBA classes by completing an internship as a memberrelationship officer at the Katahdin Federal Credit Union. My job, which Iwill have through the summer, involves helping to increase KFCU’spresence in southern Penobscot County and the Bangor market.Specifically, I work to expand and improve the indirect lending programand the creative financing options that KFCU offers. I was able to land thejob in a rather unique way. Alaina Daisey, the CFO at the credit union,who coincidentally is an MBS student, was giving a presentation inprofessor Nory Jones’ Creating and Capturing Value in a Digital Economyclass, and said she was looking to create a position to increase KFCU’spresence. I thought the job sounded interesting. I spoke with Ms. Daiseyafter class. She took it to the KFCU board and it became a reality.

Why did you like the MBA program?

I love the Maine Business School. There is a strong sense of camaraderieand a feeling of belonging here. You really get the feeling that you and yourclassmates are all in it together. The quality of the faculty is amazing. Thepersonalized attention that each student receives really makes theexperience. As a graduate assistant for professor Harold Daniel, I helpedcreate a case study on the Uacari Lodge in Brazil. This case has proven to bevery interesting and represents the power of the Maine Business School inanalyzing global issues. This case study is only one example of the amazingexposure and opportunities to broaden my horizons that I never thoughtwas possible.

How has MBS changed you?

The Maine Business School has helped me reach my potential and developinto the person I am. My professors and advisers at MBS provided me witha toolbox of skills and the confidence to continue my education. Withouttheir stamp of approval, my dream of earning an MBA and a JD wouldn’thave been possible. ■

Wendy Coons, continued from page 19

Christopher Dunn


J ames Ciejka plans to launch a successfulstint in the military by leveraging the skillsand training he learned at the Maine

Business School.Once he graduates from MBS in August,

he’ll be commissioned as an active duty U.S.Army second lieutenant infantry officer. After a17-week basic officer leadership course at FortBenning, Georgia, he’ll serve as a platoon leader,supervising 30 people as he does tasks such asevaluating soldiers’ abilities and making surethey are physically and mentally prepared forcombat, planning and executing training andtactical operations, managing the logistics ofsupplies and resources, ensuring equipment ismaintained, conducting mission briefs,preparing risk assessments, enforcing Armystandards and establishing the morale for theplatoon.

“I’ll have a lot of duties and responsibilitiesas a platoon leader,” says Ciejka, a managementmajor. “But I know the leadership, criticalthinking, teamwork, communication andorganizational skills I learned at MBS will beextremely useful. These abilities are just asimportant in the military as they are inbusiness.”

Where were you born and raised?

As a child, I was fortunate to be able toexperience many diverse cultures. My fathertraveled extensively as a manager for Citibank’sHuman Resource Department, so my family

MBS Prepared James Ciejka ’14 for the Military

lived all over the world. I was born in HongKong and then moved to Prague, Dubai andMoscow. We eventually returned to the U.S. andI graduated from high school in Glen Rock,New Jersey.

Why did you want to major in managementand why did you want to join the military?

Growing up, I saw how my father enjoyed hiscareer in business. I chose management once Irealized it involved interacting with people andengaging in problem solving. I was inspired tojoin the military because I love discipline andstructure as well as the core values they teach:loyalty, duty, respect, selfless service, honor,integrity and personal courage.

Why did you choose MBS?

I tried other business schools, but found theyweren’t right for me. Meanwhile, my sistergraduated from UMaine and had good things tosay about the school. I perused the MBS websiteand was intrigued by the variety of businessclasses that were offered. After my parents retiredto Maine it seemed only natural to come here. Itwas the best decision I could have made — theschool was a good fit from the start.

What did you like about MBS?

I like that so many of the teachers have priorbusiness experience. The real life examples theyprovided added a lot of value to their classes.The decision-making and problem-solving skillsI learned will help me down the road no matterwhat I choose to do. I particularly appreciatedthat business owners came in to talk aboutowning and running a company. Thesepresentations definitely affected myentrepreneurial outlook.

Where do you see yourself in five years?

I’m leaving my options open. If I decide to leavethe military in six years when my contract is up,my dream is to purchase a turnkey business.When the time comes, I plan to researchbusinesses that are on the market and arerunning successfully. If I continue with themilitary, I plan to return to school to earn anMBA since the military offers programs tofurther higher education. ■

MBS Advisory Board

Dan BouchardSenior Vice President at State Street BankFormer Senior Managing Director, Global MarketsUMaine Class of ’83

Marc R. Brunelle, ChairPresident, Sportshoe Center, Inc.UMaine Class of ’80

Dennis CareyFormer CFO, Home DepotUMaine Class of ’68

Jay CromartyPartner, International Entrepreneurship CenterUMaine Class of ’78

Ivelin M. Dimitrov, CFAChief Investment Officer, Fifth Street Finance Corp.UMaine Class of ’03

Andrew FrawleyPresident, Marketing Technology EpsilonUMaine Class of ’84

Joel P. GardinerPrincipal, Deloitte Consulting LLPUMaine Class of ’83

Shaun A. Hutchinson, Esq.Vice President, Sales, Merrill Communications LLCUMaine Class of ’87

Chris KeatingManaging Director, Cutwater Asset ManagementUMaine Class of ’79

Edward J. KeefeChief Financial Officer, M/C Venture PartnersUMaine Class of ’86

Patrice Krant, Vice ChairUMaine Class of ’78

Matthew R. McHattenExecutive Vice President and COO, Maine MutualGroupUMaine Class of ’90

Shawn McKennaCEO & Chairman of the BoardStarlight Development Overseas (SDO) Ltd.UMaine Class of ’77

Ralph Seferian

Group Vice President, OracleUMaine Class of ’81

Jon F. SorensonPresident & COO, Competitive Energy ServicesUMaine Class of ’86

Kristin Stewart Vice President, BNY MellonUMaine Class of ’81

James Ciejka


MBSNews

L eading a sustainable lifestyle is a work in progress for people who livein eco-villages, said MBS professor Ebru Ulusoy when she spoke toNet Impact members last fall about her research on the small,

planned communities that strive to practice low-impact, environmentallyharmonious living.

Ulusoy visited eco-villages in Belfast, Maine, and Ithaca, New York,interviewing residents about the rewards and challenges of this increasinglypopular alternative lifestyle that focuses on environmentalawareness and sustainable practices.

“United by shared ecological, socio-economicand cultural-spiritual values, eco-villageresidents see themselves as learningcommunities,” said Ulusoy, who hasstudied dozens of eco-villages nationallyand internationally. “Although theideal eco-village doesn’t exist andresidents haven’t yet reached theirdesired level of sustainability, theyare continually learning aboutsustainable life technologies and arealways trying to improve.”

Terry Porter, faculty adviser to NetImpact, asked Ulusoy to speak to thegroup because members were planningto visit the eco-village in Belfast. NetImpact is a nonprofit membershiporganization for students and professionalsinterested in using business skills to supportsocial and environmental causes.

Eco-villages focus on three levels of sustainability: socialsustainability, ecological sustainability and economic sustainability,according to Ulusoy.

“The social aspect is most important to eco-village residents,” she said.“Most of these people have lived pretty traditional lifestyles, but feltisolated from others and from nature, so that was the impetus for movingto an eco-village. Many residents told me that because they had beenisolated for so long, they were experiencing challenges living in such aclose-knit group in which each member is required to contribute to thecommunity. They also said it was difficult to adjust to a simpler lifestylewith smaller homes and cars and fewer belongings. But almost everyonementioned that getting rid of their belongings turned out to be a freeingexperience.”

Aiming to minimize their ecological impact, eco-village residents reducetheir footprint by relying on as few resources as possible. They try to

Ebru Ulusoy Talks to Net Impact About Eco-Villages

“United by shared ecological, socio-economic and cultural-spiritual values,

eco-village residents see themselves as learning communities.” Ebru Ulusoy

recycle all water for reuse on site, generate most of their own energy,contribute to their food needs through organic farming and permaculture,and use solar panels and energy-efficient windows.

“Residents of the Belfast eco-village told me that during one recentwinter they turned on the heat only two times,” Ulusoy said.

None of the eco-villages Ulusoy studied have been able to achieveeconomic sustainability, she told students. “The dream is to

have businesses within the community owned bythe residents themselves. But so far, the eco-

villages are independent incomecommunities with residents earning a

living on the outside. Although thereare three bed-and-breakfastbusinesses in the Ithaca eco-village,they are owned by individualresidents and not the wholecommunity.”

Eco-villages function as anonprofit business model in avariety of ways, according to

Ulusoy. “To date, they have been

developed by groups of peoplerather than traditional developers,”

she said. “These people either start anonprofit organization or contact a

local nonprofit organization to partnerwith them.“For example, members of the eco-village in

Ithaca started a nonprofit organization with a boardof directors made up of members and nonmembers of the village whosteward the land and finance the organization. Each individual orhousehold leases a small plot of land for a monthly fee. Leaseholders don’town the land, only the improvements such as buildings, orchards andgardens. In most eco-villages, the nonprofit owns the land. In Canada, thegovernment owns the land but gives it to eco-village residents for free.”

Also as part of their business model, eco-villages have a communitysupported agriculture (CSA) program in which they grow their ownvegetables and hire professional farmers to care for the farm and harvest theproduce. Residents earn money by offering educational workshops topeople on the outside, charging $200 to $600 per class.

“They teach organic gardening, green-building, eco-village design andfood preservation,” she said. “Eco-village residents believe in utopia andwant to spread the idea to everyone.” ■


C ontinuing its mission to develop futurebusiness leaders and equip students withthe skills demanded by today’s top

employers, the Maine Business School is creatinga Capital Markets Training Laboratory, expectedto open fall 2014, to expose students to theprofessional atmosphere of a small investmentfirm trading floor. Anticipating theannouncement of a naming gift, the facility willbe housed on the first floor of the D.P. CorbettBusiness Building. Additional generous fundingfrom MBS alumni, faculty and friends isproviding operating costs for the first five years.

The sophisticated, interactive lab willreplicate an authentic environment in whichundergraduate and graduate students learn tomanage investment funds, experience whattrading is like in the real world, and learnsoftware programs that analyze financial marketinformation. It will enhance students’ learningexperience and serve as a showcase forprospective students and their parents and as avenue for guest speakers from a variety ofcompanies and industries.

MBS Creates Capital Markets Training LabStudents to Experience the Excitement of Authentic Trading Floor

The lab will imbue an air of excitement andproductivity with multiple big-screen monitorsproviding instantaneous access to real-timeglobal financial data as well as current eventsworldwide, a wall board with scrolling newshead lines, and electronic tickers seen onbroker age walls and on financial televisionnetworks.

The room will be equipped with a dozenBloomberg terminals which provide access toreal time and historical price information andanalysis on equities, fixed income securities,derivative contracts and foreign exchange.Students will be able to engage in much moresophisticated financial analysis than what theycan do from the ordinary Internet or librarysources. They will be able to retrieve thefinancial market information used by majorfinancial firms, build and maintain stock andbond portfolios, monitor news on a company,industry or economy, and find stock prices andinformation about commodities and currencies.

Using the Bloomberg computers, studentswill be able to conduct research on capital

markets, on business models for commercializ -ing UMaine products, and energy pricing for theUniversity System. In fact, the Bloombergterminal in the current computer room alreadyhas been used to help price components of theuniversity’s wind power initiatives. Thanks to thesophisticated computer system, students’learning experiences will be enriched — not justin finance, but across the curriculum andespecially in classes dealing with investments,derivatives and financial institutions. TheBloomberg terminal’s supply chain function, forinstance, shows which companies sell to aparticular firm and to whom that firm sells. Thistype of information can be helpful in thecapstone business policy class.

“The new lab will be an important resourcefor our students and the whole university, and atrue differentiator for the Maine BusinessSchool,” said MBS Dean Ivan Manev.

MBS finance professors Bob Strong andRick Borgman worked with Manev to developthe purpose and design for the lab, conferringwith faculty from other business schools andsurveying “finance labs” at other universities andcolleges.

SPIFFY students will find the new labparticularly useful, according to Strong, adviserto the Student Portfolio Investment Fund, MBS’unique student-run organization which manages$2.1 million for the University of MaineFoundation.

“The new lab will change the way SPIFFYstudents conduct their security analysis,” Strongsaid. “Many of our students already completedthe Bloomberg certification process, but thisnew lab will make developing this expertisemore universal within the finance curriculum.”

Borgman said the training lab will be alearning opportunity for him as well as students.“I look forward to integrating moresophisticated analysis into my classes by utilizingthe data and analysis capabilities of the lab.”

With the lab as a first stage in a multiphasedstrategy, future plans include building a newwing to accommodate the potential enrollmentincreases, establishing a new professorship infinance and a graduate student researchassistantship in finance, and hiring a dedicatedtechnical assistant to supervise the facility. ■

“The new lab will change the way SPIFFY students conduct their security analysis.

Many of our students already completed the Bloomberg certification process, but

this new lab will make developing this expertise more universal within the

finance curriculum.” Bob Strong

Maine Business School5723 D.P. Corbett Business BuildingOrono, Maine 04469-5723

umaine.edu/businessThe University of Maine does not discriminate on the grounds of race, color, religion, sex, sexual orientation, including transgender status and gender expression, national origin, citizenship status, age,disability, genetic information or veteran status in employment, education, and all other programs and activities. The following person has been designated to handle inquiries regarding nondiscrimi-nation policies: Director, Office of Equal Opportunity, 101 North Stevens Hall, 207.581.1226.

“MBS prepares students to meet the professional and social challenges

of the future by providing valuable real-world experience and

opportunities through the school’s ongoing relationships with the

business community and through organizations such as the Student

Portfolio Investment Fund (SPIFFY), which manages a portion of the

University of Maine Foundation’s investment portfolio.” Ivan Manev

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