March

The Robert C. McDermond Center for Management & Entrepreneurship The E­NEWSLETTER March 2009 From The Director PHOTO BY MARILYN CULLER Gary D. Lemon, Ph.D. Spring semester is off to a strong start for the Management Fellows Program. We have an impressive line­up for the lec­ ture series this semester. The Student Council planned an alumni/current student event to Indianapolis which included dinner at Champps followed by a Pacers game. You will read more about these events and speakers in this E­newsletter. This semester we have offered our first Management Fellows senior capstone course which features teaching experts from the DePauw alumni network who are helping students to reflect on their class­ room/internship experiences and relating that to the intel­ lectual life of campus. No Harm in Charm The 7th annual No Harm in Charm workshop which took place on January 13th was open to all students. Eighty­one students learned as alumni and DePauw staff taught sessions such as Dos and Don’ts of Cell Phones and Emails, Dating 101, Table Manners and How to Work a Room. Students were able to at­ tend four out of the ten sessions offered. Ballroom Dancing and Table Manners proved to be the most popular. When asked about Bobby Eberhard ‘12 and the experience, Kelly Kish ’12 Lindsay Camplin ’12 learn Ballroom Dancing commented, “I thought that the workshop was really helpful. The alumni and staff gave us information that I know will be truly useful to me both as a Manage­ ment Fellow and a student. It was very informative and I even got to have some fun during the Ballroom Dancing!” Katie Martin‘06 presenting Dress for Success at No Harm in Charm Management Fellows/Alumni Networking On February 10, 2009 the Management Fellows had a network­ ing opportunity during dinner with Management Fellow alumni and then while watching the Indiana Pacers play the Cleveland Cavaliers at Conseco Fieldhouse. The trip was planned by sophomore Management Fellow, Shelby Evans. Forty­six students, nine alumni and McDermond Center staff attended. The sold out game was even at­ tended by celebrities such as Pete Rose and Colts Head Coach Jim Caldwell. The teams certainly pro­ vided an entertaining competition with a last and questionable call on Meggie Huels­Dials’ 03 with LeBron James being the most con­ Caroline Baker ’10 at troversial. James was quoted, “The Champps
last call against me was not questionable at all. No contact was made. The pass was short. You couldn’t go to the rim. There was no way he could catch it and go up with four­tenths of a second. I was able to get a hand on it. Being the competitor I am, to have a game taken away like that, it hurts. It definitely hurts.” James was not concerned that he had drawn a foul on a similar play at the other end of the court. The Pacers grabbed the upset win from the favored Cavaliers by a final score of 96­95. Excitement for sure! Finals Study Break­Bowling To take a break from studying for finals, Management Fellows went bowling at Alex Alleys on December 12th, 2008. This annual study break continues to be one of the most popular events planned by our student council with over 45 Management Fellows in attendance. It is a great time of mentoring and bond­ ing with students from all four classes in attendance. Aaron Henry ‘12, Emily Schuler ‘12, Kelly Gebert ‘12, Allison Paul ‘12, Shreeya Neupane ‘12 and Catherine Napier ‘12 having fun bowling 1 The McDERMOND CENTER LECTURE SERIES Amber LaRue ‘00 Treasury Manager WellPoint, Inc. Career Management Tips
Amber LaRue ’00 gave a lecture on Tuesday, January 27 as part of the Spring 2009 McDermond Center Lecture Series. Currently the Treasury Manager of Wellpoint Inc., LaRue gave a presentation on Career Management Tips to the Management Fellows. LaRue’s focus at DePauw was in Political Science but after graduation her first job was in corporate banking with BMO Capital Markets. While working during the credit boom, LaRue became the “go­to girl” for private equity transactions. During her career in the credit market, the industry changed significantly. LaRue decided to leave the industry just before Bear Stearns’ mortgage fund collapsed. Clearly, she left the industry at the right time. As that point in her life, LaRue was unemployed while her husband went to graduate school in Bloom­ ington. It was very different from her fast paced life, and LaRue says she felt that she lost a bit of herself in the process. LaRue decided to throw herself back into the job market, taking a position in the treasury department of Wellpoint in January of 2008. It was uncharted territory for her as she took on a generalist role, as opposed to the very specific role in her prior banking career. After describing her own background and career path, LaRue shared with Management Fellows some personal tips. She began with advice on how to get a job. She recommended figuring out what you like and what you are good at. This includes not just subjects, but skills. Getting good grades and internships will only increase your attractiveness to a future employer after college. There are more internships out in the business world than just what the Management Fellows Program offers. Time should be spent making good friends and getting to know your Management Fellow peers. College is too short and meaningful to take for granted. Students should enjoy every moment and every opportunity. Campus resources are also of the utmost importance, according to LaRue. You must utilize your re­ sources such as The McDermond Center and Career Services. Practicing your “elevator speech” is crucial. In 30 seconds, you must be able to describe who you are and what you are looking for. Finally, practicing interview skills is critical. Stories should be known and practiced, and there should be preparation on providing clear, suc­ cinct answers to questions. Finally, LaRue addressed the problem of the generation gap in today’s world. In order to combat the gap, you must be professional and overly formal in every situation. You must also know your audience and clean up your Facebook and MySpace pages. For more information on upcoming presenters, you can access the entire McDermond Center Spring 2009 series on our website: http:// www.depauw.edu/honors/management/current_lecture_schedule.asp 2 The McDERMOND CENTER LECTURE SERIES Rick Fairless Owner Strokers Dallas, Strokers IceHouse, Strokers Ink Get Up Early, Work Hard All Day, and Good Things Will Happen
This year, DePauw was lucky enough to have Rick Fairless speak to the Management Fellows again as part of the lecture series. Fairless, the owner of the Strokers Dallas, Strokers IceHouse and Strokers Ink in Dallas Texas, provided a unique view on the business world. Openly admitting that he was once a misfit youngster, Fairless decided as a teenager to turn his life around and “make something of it”. He got a job working first in a warehouse for a paint company. There, he worked at becoming the best at what he was doing and working hard to achieve his goals. He succeeded and was recog­ nized for his tenacity and hard work. He was promoted to working on one of their stores. Then a spot as top sales­ man led to the position of store manager. Fairless then set his sights on a bigger venture. With the support of his friends and family, he began to work on gathering funds to open a customizing motorcycle shop. Originally facing opposition from many sources, Easyriders eventually supported Fairless and helped him open a franchise in the Dallas area. Fairless later dropped the designation as a franchise and gained full ownership of his shop and renamed it Strokers Dallas. Building upon success, Fairless followed his customizing shop with a bar and grill, Strokers IceHouse. The Ice House was a huge success and was even voted the “Best Biker Hangout in Texas” by the readers of Ride Texas magazine. His tactics worked and sales also increased in the nearby motorcycle shop as the bar and grill patrons wandered over to the store while stopping to get a bite to eat or simply relax. As another complement to his existing business, Fairless opened Strokers Ink in 2007. Strokers Ink is a Tattoo and Piercing Parlor that is already showing promise of being another huge Fairless success. The main point that Fairless wanted to stress to the students was the fact that anyone can succeed with determination and hard work. In his own words, he said, “The bottom line of my lecture to them was that if a “Lucky Chump” like me can become successful – then they can too.” Another unique section of the lecture was Fairless’ explanation of Strokers’ close relation to him. He considers himself to be completely representative of his three businesses. When you get Strokers, you get Rick Fairless. His dedication can be seen through his con­ stant presence at all of his shops, working right next to the waiters, salespeople, or artists. Fairless can be found at the shops every day of the year (including holidays!), working hard and doing what he loves. For more information on upcoming presenters, you can access the entire McDermond Center Spring 2009 series on our website: http:// www.depauw.edu/honors/management/current_lecture_schedule.asp 3 INTERN SPOTLIGHT Brendan Belz Cummins India Limited Pune, India 1. What type of company is Cummins India? Cummins India is one of eleven Cummins Inc. entities in India. They manufacture industrial engines for a variety of applications including automotive, power generation as well as several industrial applications. Cummins Inc., headquartered in Columbus, Indiana, is a worldwide leader in the design, manufacturing and distribution of indus­ trial engines and power generators. The company is subdivided into business units, mainly the Engine Business Unit (EBU), the Power Generation Business Unit (PGBU), and the Distribution Business Unit (DBU). 2. What are your daily functions as an intern? Brendan Belz participating in the Pooja Ceremony, an Indian tradition, where you decorate the equipment at your workplace. This enables you to be productive and make a living. As an intern I worked on several different projects within the Finance department. In my first assignment I assisted the Planning Forecasting and Reporting team (PFR) in completing the 2009 Annual Operation Plan. I specifically worked with a world­wide forecasting model. In my second major project I worked in the Treasury department on a new foreign exchange management system. I was in charge of the testing and implementation of this new system which better positioned CIL to hedge risk through forward covers. 3. What has been your favorite part of the internship? My favorite part of the internship was the cultural experience. I had amazing cultural experiences both in and out of the office. I feel very fortunate to have done so much traveling throughout India. Additionally, to observe the cultural differences in the workplace and adapt to them was a very special experience. 4. Is this something that you want to pursue after graduation? I have always been interested in international business. Now, after having had such a fabulous experience working and living abroad I know international business is something I will pursue after gradua­ tion. Ideally, I would like to work abroad for several years after graduation in either South America or Asia. 5. After completing Management Fellows coursework, did you feel prepared for this internship? Belz at the Taj Mahal. I think Management Fellows prepared me well for my internship. Between the workshops, lectures, and required coursework I was well equipped to handle the assignments. Specifically, I felt financial accounting was by far the most relevant course for my specific internship in the finance department. contd. on page 5
4 INTERN SPOTLIGHT, contd. 6. Do you have any advice about interviewing for an internship that you would like to share with current Management Fellows? Most likely as a Management Fellow you will have little to no experience in the field for which you are applying. My advice is to go into the interview and stress your adaptability, flexibility, and desire to succeed through past experiences. 7. Do you have any advice about interning that you would like to share with current Management Fellows? Try and get the most out of your internship experience as possible. Don't feel afraid to ask for more work if you have some idle time. Going into my internship experience, I was fearful that I would not be successful and not be able to do what was asked of me. My advice is don't worry about these things; DePauw and the Management Fellows Program have prepared you well. There will be many times when you don't understand something you are working on and that is okay. No internship host is expecting you to know everything. Don’t be afraid to ask questions. You have the skills necessary to be successful. Belz and fellow DePauw Management Fellow intern, Elizabeth Stannard, with friends on their last night. Belz and Stannard are wearing traditional Indian dress; a Sherwani and a Sari, respectively. Senior Capstone Course The rollout of a new senior capstone course was offered to juniors and seniors this year. The capstone course will replace the sophomore colloquium as a required course for Management Fellows. The course has two components: alumni facilitated discussions and a group project of writing a business plan to help develop downtown Greencastle. Topics have ranged from emotional intelligence (EQ) to entrepreneurial corporate culture. The classes have often run over the 7‑10 p.m. scheduled class time as students pull stories from their internship experiences to share with the class which then prompts further discussion. Interestingly enough, none of the stu­ dents seem anxious to leave at 10 p.m. to rush over to The Fluttering Duck (a large bar and restaurant on campus with Thursday night jazz) when the intellectual stimulation in class is so great. The group project, Dr. Lemon has made clear, has no limits and in all actuality could be ideas that Dr. Casey and Mayor Sue Murray act upon. At the first class meeting, big names from the Greencastle community (Mayor Sue Murray; Ken Eitel of Eitel's flowers; Bill Dory, Executive Director of the Greencastle/Putnam County Development Center; Carol Steele, who taught a winter term course on entrepreneurship; and Dr. Casey the recently inaugurated President of DePauw) came to tell the class what they love about Greencastle and what they would like to see changed. This class is one of the great­ est opportunities ever offered on campus. Kelly Marchant comments, “I believe there should be more classes struc­ tured around the ideas of shared experiences and discussion of life skills. I do not see this as a Management Fellow capstone, but rather a liberal arts course the way it should be topping off a great four years at DePauw.” Others who will be helping facilitate the course include Tom Porter ‘65, Ryan Miller ‘97, Phyllis Ferrell ‘94, Tom Fagan ‘98, David Becker ‘75, Newt Crenshaw ‘85, Than Powell ‘00, Beth Owens ‘89, Rosalia Morquecho ’96 and Tina Fitzgerald.
5 INTERN SPOTLIGHT Caroline Baker Independent Purchasing Cooperative (IPC) Miami, Florida 1. What type of company is IPC? IPC is a purchasing cooperative responsible for the purchasing and distribution of all products necessary to run North America's 24,000 SUBWAY® restaurants. 2. What were your daily functions as an intern? I was the Distribution and Logistics Intern, and the team I worked with was responsible for getting the product from the vendor to the distribution centers. I worked on a variety of projects from evaluating financial impacts of truck unloading charges and preparing a presentation, auditing data, and creating data tables and charts. 3. What was your favorite part of the internship? My favorite part of my internship was that one of my projects has the potential to save IPC/SUBWAY® several million dollars. The analysis I did for the unloading charges will be used to eliminate excessive charges currently being paid by the franchisees. Being able to work on a project with such great importance was a really great experience. 4. Is this something that you want to pursue after graduation? Caroline Baker during her IPC internship with IPC board members
I could definitely see myself pursuing something in supply chain management. Everything from hotels to restaurants and manufacturers have some sort of supply chain, and it is something I find fascinating. 5. After completing Management Fellows coursework, did you feel prepared for this internship? I felt like material covered in the Management Fellows coursework did not directly prepare me for the internship because there is no supply chain specific class. It did help develop my thinking skills and definitely helped me perform better during my internship. What specifically helped me was the Management Fellows field trip to the Wal­Mart distribution center, because that sparked my interest in the field of distribution. 6. Do you have any advice about interviewing for an internship that you would like to share with current Management Fellows? Research the company with which you are interviewing and make sure you have plenty of questions to ask the interviewer. It shows you are genuinely interested and want the position. 7. Do you have any advice about interning that you would like to share with current Management Fellows? Embrace every opportunity that you are given because, at least with my experience, I was given responsibilities beyond typical "intern jobs.” Also, don't be afraid to ask questions. In the end, you will do a better job and will give your bosses exactly what they want. 6 ADDITIONAL PICTURES Bowling Elliott Ross ‘12 and Matt Newill ‘09 dressed in costume Seniors Tom Walz ‘09, David Morefield ‘09, Amanda Doherty ‘09 and Kelly Marchant ‘09 Staff members Joanne Mijic and Sandy Smith stop for a picture in the office before bowling. Jordan Havercamp ‘10 and John Scott ‘11 at Alex Alleys. Allison Paul ‘12 and Kelly Gebert ‘12 pose before throwing strikes.
7 ADDITIONAL PICTURES Pacers vs. Cavs Game Kelly Gebert ‘12, Emily Schuler ‘12 and Allison Paul ‘12– dinner at Champps before the game. Ryan Tinker ‘09 and Joanne Mijic No Harm In Charm Workshop Morgan Battrell and Aliya Beavers teach students Ballroom Dance. Kelly Kish ‘12 and Kelly Gebert ‘12 pair up to learn how to dance.
Management Fellows Program Continued on next page The Management Fellows Program is one of DePauw’s five highly selective Programs of Distinction. It was established in 1980 to build lead­ ers through academic and real life experience, all within a distinguished liberal arts environment. Today, Management Fellows are prepared, confident leaders at the world’s top public, private and not­for­profit enterprises. 8