Rundown

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RICE BUSINESS WISDOM RICE BUSINESS WISDOM: THE IDEAS MAGAZINE OF THE JONES GRADUATE SCHOOL OF BUSINESS AT RICE UNIVERSITY WINTER 2018 CULTURE CLASH How will Amazon and Whole Foods work together? HOLDING OUT FOR A HERO Businesses need leaders who do the right thing. STORMNESIA: Houston’s fog is lifting GUILTY PLEASURES Are overeaters more likely to overspend? ICYMI Rice Business Wisdom debuted a print magazine this past January. Here’s a little bit of what Dean Peter Rodriguez had to say about it.

Within the walls of academia, research is cherished and revered, the genuine ‘coin of the realm’ for any serious scholar. Outside the walls, research often appears more like a dalliance, the luxurious hobby of the academic’s lifestyle or the abstruse and unproductive exercise of impractical but well-funded scientifi c minds.

The failure of academic leaders to communicate the fundamental honesty, rigor and power in great research is our most humbling marketing failure. It keeps us up at night. And it keeps the good stuff, the scientifi c wisdom, the very hard-won stuff, out of reach for so many who really need it. Now, more than ever, the value of science and of proven research and scholarship needs to be smartly and widely shared. We can do better, by working hard to craft well-written, honest and authentic pieces on the best research done by scholars at Rice. I am immensely proud of the engaging, brief and refreshingly smart pieces in this inaugural print edition of the best of Rice Business Wisdom. There’s nothing more gratifying to a professor than knowing they helped make someone smarter — and through these works on our research, we can. “

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Changing the Face of Parkinson’s

Nancy Flatt and Honoree Robert Flatt

The Houston Area Parkinson Society hosted their Annual Awards Gala Changing the Face of Parkinson’s. Robert Flatt, adjunct professor in management, received the Lillie Cullen Quality of Life Award last November. His acceptance speech brought down the house. I am a fi rm believer in serendipity. Much of life is spontaneous. That is why it is so thrilling to be alive. You never know what will happen next, winning the World Series, a hurricane or waking up one day to fi nd you have Parkinson’s disease. Thank goodness for HAPS. When we are diagnosed with Parkinson’s disease, we are immediately surrounded by a support group, where we can learn new skills to cope with life and to thrive with the capabilities that we have left. “

As our bodies degenerate, due to disease or aging, we can no longer do some things we really have enjoyed. Over 10 years ago, I could no longer work at my job. Then I could no longer play tennis or drive a car. I will not be able to teach much longer. I have a choice: I can spend my time worrying about these changes, or I can decide not to let them ruin my day and get on with my life. It’s never too late to change your major.

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In November, the College of Business, City University of Hong Kong named Haiyang Li a distinguished alumnus in recognition of his outstanding achievements and contributions to the profession, the university and society.

Li is a Rice Business professor of strategic management and innovation and area coordinator of the strategy and environment group. The College of Business has accumulated more than 40,000 alumni since its establishment in 1990. Many of the young, energetic alumni have used their professional or scholastic knowledge to contribute signifi cantly to Hong Kong and the global community. Li graduated in 1998 with a Ph.D. in management.

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Congratulations to Babur Ozden ’04 who was recognized as 2017 Technology Pioneer by the World Economic Forum.

Aaron Davis ’10 was named one of Forty Under 40 by Oil and Gas Investor. He started Fortuna Resources LLC in 2016 with three partners and received $75 million in funding commitments from Oz Management to focus on the Delaware Basin. He says one of the most important elements of a successful business plan is to have the right team. “Most of my partners had worked alongside me at one point, so I knew their strengths and weaknesses. The result was partners that fully complemented each other.” Fortuna Resources quickly built an asset base in the Delaware Basin and sold in two separate transactions in 2016 and 2017. Davis’ second company, TNM Resources LLC, secured a new commitment from Oz Management and is focused on proving up the horizontal San Andres play on the Central Basin Platform while also remaining a Delaware non-op player.

Adi Rangarajan ’19 and Teddy Bucher ’19 snap a quick selfie before tackling another exciting day at the 2017 ROMBA Conference in Boston.

Are you ready to ROMBA?

When more than 1,800 LGBTQ business leaders and MBA students from across the globe descended on Boston for the 20th Annual ROMBA Conference, 100 percent of the Rice Business LGBT student population attended. Students and professionals intensely networked, vying for internships and full-time positions at leading edge companies such as Google and BCG, and at night, gathered together to laugh at the comedy of Margaret Cho and be inspired by the heartfelt and personal stories of Anderson Cooper.

Over three days, the student-led event hosted educational sessions ranging from “How To Make a Gay [Car/Drink/Pop Star]” to “Human-Centered Design and Empathy in Health Care.” Throughout the entire weekend, a small crew from Rice Business dominated the conference. Of the 70+ universities attending, Rice was one of the few able to boast that. The mighty pack consisted of three faculty, four alumni, five Class of 2018 and seven Class of 2019. In true Rice form, they did not just attend and watch from the sidelines, but actively worked to shape and improve the conference for all.

• Rhett Chase ’18 worked over the past year on the Student Planning Committee, a group of eight students who applied and were chosen by the ROMBA board of directors, to create, plan and execute all aspects and content for the conference. • Katherine Dextraze ’18 and Mitchel Robertson ’19 volunteered to lead panel discussions on “How Big Data is Revolutionizing Marketing” and “Scalability: The Growth Elephant in the Room.” • Two case teams competed among 20 in the Liberty Mutual Consulting Case Competition, with Team Ascent — Roger Liu ’18, Mitchel Robertson, John Blake ’19 and Adi Rangarajan ’19 — taking home third place and a check for $1,000. • Alumni Kendall Toarmina ’17 and Elliot O’Glasser ’17 returned with their companies to not only recruit and interview great LGBT talent but also to speak on leadership panels for their respective fields. Rob Mark ’15 has held a position on the board of directors for the past three years, influencing the conference and the $6.5 million dollars in scholarships granted. • As a testament to the strength of the Owl Network, when two of the four speakers for Mitchel Robertson’s panel backed out last minute, Will Pike ’10 stepped up to help out. Pike, a senior manager at Kalypso Consulting working on a project in New York, found out about the conference and Mitchel’s predicament and hopped on a train to assist a fellow Owl in need.

Every day, every session and every moment, the mighty crew from Rice Business walked into each room proudly wearing their custom rainbow owl pins, garnering praise and acknowledgement from not only recruiters and business leaders, but also fellow students for their warmth, poise and intellect. I am humbled to be chosen as their club president and could not be prouder of their incredible accomplishments. Rice Business at ROMBA was not only a success, but dominated the conference. And we will be back next year to do it all over again.

David Laborde ’18 Out & Allied President

VALUE ADD

What’s new for students this year? IREP. A homegrown student initiative that stands for integrity, respect, excellence and professionalism. This simple statement of shared values is meant to formally educate incoming students on the culture and serve as a guide for how to navigate a lifelong journey as part of the Rice Business community.

Envisioned by alums DG Gaus ’17 and Jerry Peruchini PMBA ’17 with help from Andrew DiBello and Matt Craig, both PMBA ’17, IREP came to life over the past year. Led by Ed Clark ’18 and Dave Bonem PMBA ’18, the official rollout began last summer during Immersion for first-year students and shortly after Hurricane Harvey for staff, faculty and second-year students. Other members of the Deans’ Student Initiatives team included Katie Fetterman PMBA ’18, Elena Engles ’18 and Stephanie Antosh PMBA ’18.

#IREP #RICEBUSINESS Check out the fall issue of Rice Business for a longer story about IREP, the IREP awards given out twice a year and how alumni can be a part of it.

This year’s sold-out Women in Leadership Conference focused on empowering rising women leaders to create their own paths to success. Students from the Rice Business chapter of NAWMBA organize the conference. <

12 RICE BUSINESS “The topic of conversation flowed from ‘critical factors for successful leadership in an instant information economy’ to ‘the future of oil and gas industry in the face of emerging renewable sources of energy.’” — Arjit Bansal ’18 commenting on the Thought Leadership Series with Lee Boothby ’92, who is chairman, president and CEO of Newfield Exploration Company. <

Rankings Recognition

Rice Business ranked No. 10 in Bloomberg Businessweek’s analysis of the best full-time MBA programs in the nation in November. This marks the second year in a row that the school ranked among the top 10.

The U.S. News full-time ranking bumped up six places to No. 23 in the country.

For the third year in a row, Rice Business was mentioned in Poets & Quants’ list of 10 business schools to watch — “programs whose courageous visions and underlying fundamentals have positioned them to increase the value of their degrees,” according to the magazine.

Rice Business also made the Texas A&M/University of Georgia’s list of top 10 business schools based on appearances in management publications.

SPRING 2018 Student leaders from other top business schools exchange ideas and best practices with Rice Business students at the MBA Student Government Leadership Summit in November. Pictured: Ed Clark ’18, JSA president. <

Tilman Fertitta showcases Houston mattress company you’ve never heard of Professor Utpal Dholakia comments on how small companies can compete against larger companies — offer something different, like expert customer service.

By Paul Takahashi February 28, 2018

Meet India’s top MBAs from the Class of 2019 Vishruti Jakhar ’19 is featured as one of the top MBA students from India.

By Jeff Schmitt February 26, 2018

Facebook has invented a new unit of time, ‘the fl ick.’ Why stop there? Rice Business staff writer Jennifer Latson proposes Facebook-related time units such as “the memute,” the amount of time you have to respond to the latest viral meme.

By Jennifer Latson and Andrew Sessa January 30, 2018

Rice University to now host annual Veterans Business Battle The annual business plan competition for military veterans-turned-entrepreneurs is slated for April 13 and 14 at Rice.

By Andrea Rumbaugh February 12, 2018 ExxonMobil plans to invest big, expect other energy companies to follow suit Professor Bill Arnold breaks down the reasons for ExxonMobil’s investment plans and what to expect from other energy companies.

By Bill Arnold February 1, 2018

Current oil prices offer lesson in supply and demand, Rice Business prof breaks it down Professor Bill Arnold refl ects on rising oil prices and why we can expect continued equilibrium between supply and demand.

By Kelly Vo January 17, 2018 When high prices attract consumers and low prices repel them Professor Utpal Dholakia writes on the informational value of pricing.

By Utpal Dholakia February 5, 2018

Why you should not brag on social media Professor Utpal Dholakia writes on how boasting about professional accomplishments can have negative repercussions.

By Utpal Dholakia February 19, 2018

A Cure for Disconnection Loneliness is worse for our health than smoking or obesity, research shows. In the cover story for the March issue of Psychology Today, Rice Business staff writer Jennifer Latson reports on the ways we can deepen our connections.

By Jennifer Latson March 7, 2018

14 RICE BUSINESS We’ve heard a lot of bad apologies lately. What makes a good one? Professor Anastasiya Zavyalova explains how apologies can fall apart and when organizations should stay quiet.

By Claudia Feldman February 27, 2018

Is our speech still free? Professors Jing Zhou and Jennifer George’s research shows that stifl ing free expression can also stifl e innovation.

By Jennifer Latson February 20, 2018

Mittal, Sridhar: The urgent matter of school safety Professor Vikas Mittal explains how research on school safety and parent satisfaction ties into the national conversation about school shootings.

By Vikas Mittal and Hari Sridhar February 16, 2018

My dad’s cancer has made it clear: Our health care system is sick Professor Ken Janda refl ects on his personal experience with and professional expertise in Houston’s health care system.

Is getting an online MBA worth it? A discussion about online MBAs that mentions MBA@Rice.

By Poets and Quants February 20, 2018

Why did so many Texas state employees quit in 2017? Professor Scott Sonenshein comments on the problems created by high turnover and especially how this affects government processes.

By Florian Martin January 5, 2018

Iconic Midtown store not the only Sears to close doors for good Professor Utpal Dholakia comments on why big retailers are shutting down and what to expect next.

By Florian Martin January 29, 2018

Houston’s not eating that well. Can a new mobile grocery help? Assistant Professor Doug Schuler weighs in on ways to change Houstonians’ eating habits, including alum Dustin Windham’s (’15) Grit Grocery.

By Allyn West December 29, 2017

Update: Academy gives stance on gun regulations after Dick’s alters policies Professors Utpal Dholakia and Vikas Mittal argue that consumers should consider the big picture when companies speak out — or keep quiet — about polarizing issues.

By Jack Witthaus February 28, 2018

The most beautiful gym in the world hits Houston A feature on The Preserve, a full-service health and fi tness facility founded by Rice Business MBA Molly Carter (’15).

By Annie Gallay January 19, 2018