Fall 2011 BGSIE

Fall 2011

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what’s inside

BGS Corporate Contributors and Affiliates

2

A Message from the BGS President

3

Introducting the Fayette H. Elwell Heritage Society

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Ethical Business Leadership in Tough Times

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Social Entrepreneurs: Agents for Change

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Giving the Gift of Mobility: Donald Schoendorfer and the Free Wheelchair Mission

Beta Level Sponsors

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One for One: Blake Mycoskie and TOMS Shoes

Bloomberg Businessweek

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Volunteering On the Clock: Employee Volunteer Programs

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The Little Give

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The Altruistic Millennial

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Volunteering Off the Clock

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BGS: Celebrating a Century of Excellence

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BGS Alumni Network

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Beta Gamma Sigma Alumni Chapter Award Recipients

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Beta Gamma Sigma thanks those organizations that generously support the Society’s programs and services

($50,000+) Fortune

Gamma Level Sponsors ($25,000-49,999) Bank of America GEICO Graduate Management Admission Council (GMAC) KPMG and the KPMG Foundation

Others 1-800-Baskets.com 1-800-Flowers.com

We are Beta Gamma Sigma: Harlan Steinbaum

AACSB International AACSB Accredited Business Programs Apple Store

Gifts from Friends

AVIS Rent A Car System, Inc. Becker Professional Education BGS Cell Phone Discounts Carperks Corporantes, Inc. Enterprise Herff Jones

BGS International Exchange Beta Gamma Sigma 125 Weldon Parkway Maryland Heights, MO 63043-3101

Fall 2011 Volume 10, No. 2 Circulation: 104,561

Hotels.com Kaplan Test Prep and Kaplan Schweser Lenovo LIFE, Inc. LTC Financial Partners McGraw-Hill Professional Pet Assure The PhD Project

email: bgshonors@betagammasigma.org phone: 314-432-5650 website: www.betagammasigma.org

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Wall Street Health Insurance The Wall Street Journal The Week A list of the many benefits available to BGS members can be found online at: betagammasigma.org/benefits.htm

bgs international exchange Fall 2011 www.betagammasigma.org 1

A Message from the BGS President “Beta Gamma Sigma is one of the best kept secrets in the business world.”

I

wish the statement above weren’t true, and I sincerely believe that someday soon it won’t be.

The organization impacts business students in a very positive manner, and continues assisting lifetime members long after graduation, but the fact remains that many important business people know little about it.

For a nearly 100-year-old honor society, we’ve all done too good a job of keeping Beta Gamma Sigma a secret.

The members of the BGS Board of Governors and Central Office staff work diligently to make the Society valuable to students and a value to those in the world of business. How? • The BGS Student Leadership Forum; • CareerCentral – The BGS Job Board; • The BGS Virtual Graduate School Fair; • The BGS Scholarship Program; • The BGS Center for Ethical Business Leadership; • The BGS Alumni Network – Alumni Chapter Program; • And much, much more.

But how much of this is getting out to the important decision makers in the business community? Not enough, to be sure. Members of the BGS Board of Governors travel for academic conferences on a regular basis, and interaction with business leaders is a regular occurrence as well. Unfortunately, however, while those in academic circles tend to know about Beta Gamma Sigma and its good works, business professionals don’t know us as well.

How can we change that? The truth is that we’ve made considerable progress and the corporate world knows us considerably better than it did even 10 years ago, but this remains one of Beta Gamma Sigma’s most difficult and important challenges. The world is a different place than it was 98 years ago when BGS was founded…or even 50 years ago…or five years ago. While technology has closed the distance between people, places and opportunities, that same technology has oversaturated the already crowded marketplace of information. But how do we stand out? There are great organizations doing great things in every corner of the world, and details about each are available with just a few key strokes. The more our honor society accomplishes, the greater the challenge to let the rest of the world know.

This isn’t an impossible task by any means but we’ve got to “strike while the iron’s hot” as the old saying goes. We’re presented with the perfect

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opportunity to grab attention through the upcoming BGS Centennial Celebration (see the announcement on page 23). How often does an organization celebrate the 100th anniversary of its founding?

Each of us must take responsibility for our part.

The Board of Governors has authorized a great many activities and events that will celebrate our past, look to our future, and perhaps most important, invite those in the corporate world to take another look at Beta Gamma Sigma. We must make sure they see the great things you are all doing and let them know how they can be a bigger part of the Society’s future.

The staff has spent the last couple years planning for this, and you will soon receive save-the-dates, kickoff announcements, and event information that will invite you to be a part of the Centennial. Please take the opportunity to help out and/or take part. The more you and your fellow lifetime members get involved, the more the corporate world will see value in joining us as well. As a side benefit you will gain access to even more of your fellow lifetime members, and you never know where a new connection with another high achieving business professional might take you.

Being a “best kept secret” can be very limiting but somewhat comfortable. If you remain in the shadows the spotlight shines elsewhere and less is expected of you. The impact of your mistakes is minimized and fewer people notice if you fall a bit short, but your successes don’t deliver as much impact as they could.

On the other hand, Beta Gamma Sigma is built on leadership, bold thinking and the collective strength of its more than 675,000 members around the world.

As an honor society we’ve been doing great things in the shadows long enough. Consider this the official notice that BGS doesn’t need or want to be a best kept secret anymore. We can and will be a part of the great opportunities presented in our next century, and we want leaders in every industry to see us and expect more from us. Undoubtedly there is pressure in stepping forward and announcing, “I’m willing to lead.”

But think of how much we can accomplish when we do.

Robert D. Reid James Madison University President of Beta Gamma Sigma

Introducing the Fayette H. Elwell Heritage Society

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eta Gamma Sigma is fortunate that nearly 4,000 lifetime members help finance its programs and services by making gifts each year. In many cases these annual gifts are designated to support a particular program – perhaps the BGS Student Leadership Forum or to help fund student scholarships. In other cases members make gifts and leave it to the Society to decide where it will have the most impact.

Beta Gamma Sigma is tremendously thankful to its friends and lifetime members who invest in their honor society’s future in this way. Without this help the Society would be unable to finance many of its most popular programs. For instance, the BGS Emergency Membership Fund, which pays the membership fee for those deserving students who don’t have the financial means to pay it themselves, is totally financed through member donations. It’s impressive that dozens of new members over the last two years are only members because others stepped up to help in this way.

But annual giving can only accomplish so much. The Society is preparing to celebrate its 100th anniversary in 2013 and building the programs and services needed for Beta Gamma Sigma’s second century will require additional investment. How does an organization like ours build for the longterm while staying committed to meeting its Mission in the short-term?

One way is by offering members and friends a new avenue to become involved and invest in their favorite BGS programs. Beta Gamma Sigma is pleased to announce the launch of its new planned giving program, which invites members to help the Society strengthen its long-term future, and the creation of the new Fayette H. Elwell Heritage Society.

“This new program is really an exciting development, and I hope members will remember Beta Gamma Sigma when they consider the causes they’d like to support long-term,” said Robert D. Reid, president of Beta Gamma Sigma. “It’s an opportunity for a long-time member to say, for instance, ‘I’d like to support student members by establishing a named scholarship but I don’t have the available cash to do that now.’ Well, with this new program that opportunity now exists. It can be done in a way that benefits the Society long-term and helps the member realize tax benefits while supporting a cause that is important to him or her. We’re excited about the possibilities.”

Those who make a gift through a bequest between now and the end of BGS’s Centennial year of 2013 will become charter members of the Fayette H. Elwell Heritage Society, named in honor of Beta Gamma Sigma’s first president in 1913.

Beta Gamma Sigma is asking members to consider adding the Society to their wills. By making a gift through a bequest, a member ensures the long-term funding of BGS, while still having the freedom to take care of his or her personal needs today. In addition, anything placed in a will is revocable – it can be changed at any time – so if circumstances change in the future the member can make adjustments accordingly.

“I’m excited about starting this program because I just don’t think we’ve given our members enough options,” said Jim Viehland, executive director of Beta Gamma Sigma. “We’ve communicated with many, many members over the last couple years, and they like the things we’re doing. For example, the development and subsequent expansion of the BGS Center for Ethical Business Leadership is one of the most significant projects we’ve ever undertaken. The great thing is our members seem to agree with us and they’re giving to help that project through many small gifts on an annual basis.

“But we’ve also heard that some would like to do more but they can’t free up funds to make a significant difference. With this new program we’re asking members to consider helping us long-term through the Fayette H. Elwell Heritage Society; ensuring that programs like the EBL Center are available to and benefiting members well into the future. This can be a great opportunity for those who would like to do more and invest in their honor society’s future.”

If you haven’t given before, consider how you as a lifetime member might assist Beta Gamma Sigma in its Mission: to encourage and honor academic achievement in the study of business, to foster personal and professional excellence, to advance the values of the Society, and to serve its lifelong members. If you’ve given to BGS in the past, we ask that you consider whether making a bequest to Beta Gamma Sigma might be an appropriate “next step” for you. You obviously care about your honor society, and you now have another way to make a significant difference.

We realize this is new and you probably have some questions, so please don’t hesitate to contact Tim Weatherby in the Central Office (tweatherby@betagammasigma.org or 314-4325650). We look forward to the opportunity to discuss with you whether making a meaningful gift through a bequest in your will is the right way for you to continue your support of Beta Gamma Sigma.

Fayette H. Elwell, the first President of Beta Gamma Sigma

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Ethical Business Leadership in Tough Times O

n June 17, 2011, the BGS Center for Ethical Business Leadership and the KPMG Foundation hosted a panel of experienced executives to discuss the topic of Sustaining an Ethical Culture: Ethical Business Leadership in Tough Times. Joining me in the panel discussion were Joan C. Amble, Executive Vice President, American Express; Kathleen Edmond, Chief Ethics Officer, Best Buy; and Jose R. Rodriguez, Regional Professional Practice Partner, KPMG LLP and Chairman, KPMG Foundation.

“Tough Times” refers not to the unstable economic conditions in the United States and other parts of the world but rather to situations where companies and other institutions – including universities, government, and not-for-profit organizations – are faced with highly visible ethical lapses that undermine the credibility and mission of the organization and individuals involved.

The panel did not address specific instances of ethical transgressions and missteps even though there were a number of significant breaches in the few weeks before our discussion.

Our purpose, instead, was to examine the role and actions of leadership in responding to such ethical lapses, and, equally as important, to explore steps that leadership can take to reduce the likelihood and the consequences of ethical transgressions.

A Company’s Ethical Culture: “Tone at the Top” “Tone at the Top” is a favored phrase used by business people and commentators alike to signify that the values, morals, and behavior patterns for the organization as a whole must be set by those at the top of the organization. Executives must demonstrate and live by those ethical expectations themselves – all the time and in highly visible ways. Not abiding by those same standards seriously undermines efforts to develop a strong and cohesive culture. In 2010, for example, the CEO of HewlettPackard was dismissed for failing to live up to the same rigorous expectations that he and his leadership team were promoting.

Our panelists carried this concept a step further, pointing out that nearly every employee in an organization is a “top” to others and therefore is in a position to influence for good or ill their ethical behavior. As such, ethical leadership is dispersed throughout the organization, not just concentrated in a few.

An experienced saleswoman in a branch office is the “top” for new recruits just as the regional boss is her top. A more seasoned metal worker has a similar relationship to those still learning the trade. Both individuals can and do have a significant impact on shaping and embedding the corporation’s ethical culture.

The tone at the top concept should also be viewed laterally and not just vertically. What goes on in the next cubicle or work station can support or undermine ethical business behavior among co-workers. Demonstrating, accepting or even excusing unethical behavior may create a mindset and behaviors in other employees that run counter to the company’s culture and values, as well as customer and shareholder interests.

Since ethical issues and dilemmas can occur any time, any place and at any level within a corporation, company employees should be prepared to deal with these complex issues when and where they arise, regardless of hierarchy or structure. Modeling ethical behavior and exercising ethical leadership should not 4 bgs international exchange Fall 2011 www.betagammasigma.org

By: David H. Blake, Director, BGS Center for Ethical Business Leadership; Professor Emeritus, Strategic Management, The Paul Merage School of Business, University of California, Irvine

be placed in organizational silos, but they can be consciously fostered by the company.

Policies, Processes, and People Ethical expectations can be emphasized through clear and well-understood processes and procedures. Specific and meaningful rules tied realistically into company practice can help break complex ethical issues into more manageable components that can guide employee behavior. However, the panelists cautioned that rules alone are not sufficient and are sometimes counterproductive as issues and circumstances change.

Joan Amble noted that thick binders of rules will not be remembered. Instead, clear and concise objectives for ethical conduct are much more feasible as employees understand the concept that objectives lead to action. She encourages companies to embed ethical constructs and behavior into specific business processes and procedures so that the ethical dimension is “routinely” incorporated into decision making and action.

As standard practice companies could insist that employees always consider the immediate and longer term ethical impacts of their decisions and actions. Such a practice, when solidly engrained, could prevent the series of short-cuts and compromises that eventually lead to industrial accidents like oil spills or short-sighted actions like foreclosure robo-signing.

Kathleen Edmond cautioned that ethics are situation and context specific. Top down decisions are not always appropriate.

At Best Buy, with its hundreds of stores, it is important to empower and entrust the local store manager to handle ethical situations. Each store has its own unique social and business context, and thus leadership on many ethical matters has to be pushed down the organization into the hands of local managers who are much closer to the situation than headquarters.

Jose Rodriguez stressed the importance of judgment. Rules can cover only so much, and when they no longer apply or provide helpful answers, it is the leadership of good judgment that has to take over. The effective exercise of judgment is not position-specific; rather it is more person- and situation-specific, once again supporting the concept that leadership on ethical issues can and should be dispersed throughout the company.

Further, time and timing can be critical in ethical dilemmas, as often time is short and intensity is high. The astute handling of a situation early on can result in a satisfactory resolution and prevent the escalation of the issue in complexity, magnitude, and decibels. Timely and effective action is often best undertaken at or near the point of immediate ethical concern and not after long bureaucratic travels and travails.

Individual and Corporate Learning The panelists recognize that judgment is difficult to teach but that it is important to take advantage of opportunities to do so. Much can be learned by conducting post-mortems of ethical challenges faced by one’s own company or others. Such efforts can sharpen useful employee skills of situation analysis, the understanding and management of stakeholder interests, the identification and exploration of options, the importance of time and timing, the role of transparency and integrity, and the need for internal and external communication strategies.

Joan Amble observes that most of those who initially encounter ethical issues have experience and expertise in more traditional business functions – not in the area of ethics.

Yet when ethical issues arise, they need to be addressed with understanding, creativity, and often speed. Employees need to be educated and then reminded how to approach ethical issues, how and where to get advice within the company, how to listen, and how to respond to the situation. Repetition, the panelists agree, is important to embedding the learning.

Kathleen Edmond has implemented a blog in which people openly ask questions about complex ethical issues. As the blog’s publisher she is able to address real issues for real people but with a much wider audience, important for a company with 180,000 employees. In the aftermath of a particularly serious and substantial ethical transgression, Kathleen invited a regulatory enforcement official to join her in a widely attended conference call with interested employees from Best Buy’s many stores around the world. In this interactive town hall meeting, the episode was discussed openly and candidly with the objective of learning from errors in actions and judgment. Active employee commentary and questioning was encouraged, and the thoughts of a few were reflective of the concerns of many. Real time learning took place across the Best Buy organization.

Assessment of Ethical Vulnerabilities Based on his auditing experience with KPMG, Jose Rodriguez recommends that companies rigorously assess their own operations for cues and clues about where ethical vulnerabilities may exist. These points of weakness are often found in the details of the operations or the basic business model and require a thorough understanding of the business.

Too often, those with this intimate knowledge are too close to the situation and fail to see the vulnerabilities. Familiar routines become accepted as good practices that do not have to be examined. They have worked in the past, and change is unnecessary as it is costly in time, money, or inconvenience. This kind of false thinking can come from the opposite end where arrogance convinces some that their new idea or business model is certain to succeed. The strength of conviction discounts or completely ignores the potential for serious ethical implications.

In September 2011 the Swiss bank UBS lost over $2 billion as a result of unauthorized trading by a single employee. The same thing happened to Barings Bank in 1995, when an employee singlehandedly brought about the total collapse of Barings – the oldest merchandise bank in London. In such a critical function as trading, was anything learned or changed?

The financial crisis of 2008 was largely brought about by the bursting of the subprime mortgage lending business and the development of new and risky financial instruments. To many old hands in the field, the business model made little sense. Yet, in the rush to make money, too few voiced their concerns. There seemed to be little or no consideration of the potential ethical disasters that would affect individual homeowners, destroy wealth for millions, bankrupt huge financial institutions, and create a worldwide financial crisis. The industry seemed to be ethically blind as many jumped on the bandwagon convinced that these new financial instruments were foolproof.

Ethical leadership needs to be continuously alert to business practices and trends, large and small, which may lead to complicated ethical dilemmas. Companies would be well served to encourage their employees to think boldly about these issues and to establish procedures that will gather the information and knowledge, which may serve as an early warning system.

Responsibility and Accountability Panel members agree that when confronted with ethical dilemmas personal responsibility and accountability are

David H. Blake (standing) with (L-R) Joan C. Amble, Executive Vice President, American Express; Jose R. Rodriguez, Regional Professional Practice Partner, KPMG LLP; and Kathleen Edmond, Chief Ethics Officer, Best Buy

essential to good ethical practice. A company can establish various supportive mechanisms, but ultimately it is people, corporate employees, who direct, develop, implement, condone, or cover up actions that violate ethical standards. Board members, CEOs, mid-level managers, sales people, accountants, and shipping clerks all have a role in ensuring that their own behavior furthers ethical standards.

Ethical dilemmas are often complex as competing values and interests collide. In such cases, the individual is confronted with several options of varying degrees of ethical complexity and with uncertain outcomes and consequences. Sometimes personal agendas clash with corporate expectations, which themselves are sometimes not clear.

The panelists introduced the concept of teamwork in addressing ethical issues. There is value in the judgment of others. Others bring different knowledge, different experiences, different perspectives, and different ways of looking at the same situation. A colleague can raise a well-conceived question, which causes one to reconsider a proposed course of action.

Many companies have established hot-lines where employees can turn for guidance. Others encourage formal mentoring relationships. Informal networks can also be effective in providing perspective. Whatever the mechanism, companies should legitimize reaching out to others in the corporation for input and advice. One should not feel alone in the exercising of judgment when addressing complex ethical issues.

Corporate Commitment to Ethical Behavior The panelists offered some valuable suggestions about how corporations can institute programs and policies that enhance the ability to identify and address ethical issues in the normal course of conducting business. There is unanimity that ethical considerations and implications should be routine to corporate actions – not something unique or special. The panel also stressed that the implementation of an ethical consciousness resides in the actions and behavior of individual employees.

Policies, procedures, training, assessments, mentoring, a strong culture, and other actions are all part of the corporate context and should be consciously and continuously improved to achieve a corporate ethos that is ethically aware and ready to lead. Nonetheless, it is the actions of people and their leadership that will determine the ethical impact of corporate behavior.

Video excerpts from the panel discussion, along with a variety of other resources, are available at the BGS Center for Ethical Business Leadership.

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here’s an old saying that money doesn’t buy happiness. And while money may or may not be the key to personal fulfillment, a successful entrepreneur knows its importance. For the social entrepreneur, however, another important ingredient for the business plan is the good that’s done for society.

The bottom line may be more difficult to measure than a strictly monetary view, but the impact can be tremendous.

What is a Social Entrepreneur?

You may have heard of some of history’s most famous social entrepreneurs. Examples include Susan B. Anthony, who fought for Women’s Rights in the United States, Florence Nightingale, founder of modern nursing, and Vinoba Bhave, founder and leader of the Land Gift Movement in India.

These individuals committed themselves to tackling major social issues. They are classified as social entrepreneurs because they sought to solve problems, not by attacking them on an individual basis, but rather by altering the system and infrastructure that caused the problem in the first place.

“There is an old adage, ‘If you give a man a fish you feed him for a day. If you teach a man to fish you feed him for a lifetime,’” said Rick Smith, founding director of the Center for Social Entrepreneurship at the Farmer School of Business at Miami University. “Social entrepreneurship is not about giving a man a fish or teaching a man to fish, it’s about revolutionizing the fishing industry. It’s about asking questions of not just why does this person not know how to fish, but how come? It’s about beginning to understand and address what are these things called social problems.”

While a typical entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems and then implements them on a large scale. According to the website for Ashoka (www.ashoka.org), an organization that invests in social ventures, social entrepreneurs act as the change agents for society, seizing opportunities others miss and improving systems, inventing new approaches, and creating solutions to change society for the better.

But for any venture to survive, whether it’s in the social sector or any other industry, the venture must be based on a well thought out business model. In the case of social entrepreneurs, that model just has an added consideration that goes beyond the profit margin.

“You have to have a solid value proposition and serve an unmet need, the same as starting any business,” said Alex Hoffman, co-founder and CEO of Changents, a service provider and a web platform that helps social entrepreneurs connect with companies and volunteers who want to assist them. “The challenges are greater, however, because there are preconceived notions that social enterprises carry additional baggage. We have set the bar higher for ourselves. It’s not just about making a buck; it’s about making a buck and delivering positive social return as well. It’s hard enough to manage one bottom line, much less two or three.”

While financial gain may not be the only goal, it is still a necessity. For social entrepreneurs, one of the biggest struggles can be staying the course when funds lag behind effort.

Paul Dixon is the co-founder of The Adventures of Papa Lemon’s Little Wanderers, a series of children’s books that feature the main character, Papa Lemon, teaching children about historically significant subjects like the California Gold Rush, Dr. Martin Luther King, Jr. and Harriet Tubman.

“We have books all over the world in Germany, Russia and even military bases,” Dixon said. “Unfortunately, to this point, it hasn’t been real profitable for us.”

Despite the lack of early financial success, Dixon and his co-founder Paul Lehman continue in their efforts to educate youth. It’s the passion to affect change that keeps driving them forward.

Academic Presence For an industry to thrive, the professionals of tomorrow must be interested enough to pursue an education in that field. In the last decade, the academic push for training in the social sector has steadily increased.

“This generation is more service minded,” said Stephanie Barksdale, special assistant to the university president at Tulane University, who manages the Office of Social Entrepreneurship. “They start in high school, with volunteering and community service being a big part of the college admissions process. They want the skills to improve society as well as have a livelihood. It’s not one or the other.”

Back at the Farmer School at Miami University, the Center for Social Entrepreneurship creates hands-on, experiential learning at the undergraduate level and strives to give students the tools and resources they need to leave their mark on the world.

“When we started in 2006, there were graduate programs for social entrepreneurs at Harvard, Stanford, Duke and Oxford, but nothing at undergrad,” Smith said. “We saw this as an opportunity to leverage an undergrad program.”

The Center doesn’t only teach the “how,” it invests in projects that make sense by sponsoring a campus-wide business plan competition.

“We offer up to $20,000 for students to launch their social ventures,” Smith said.

“They provide us with their innovative idea, marketing strategy and sustainability plan, which becomes a lot more than analyzing the financial impact. We look at the effect on society and the environment.”

In February 2011, two projects launched at Miami’s Center for Social Entrepreneurship were among the six finalists for Ashoka’s University Innovation Award in Social Entrepreneurship Education. The first, Edun Live on Campus, is an initiative launched in partnership with Bono, the lead singer of the rock band U2, to create Edun, a socially conscious clothing company. The student-run organization markets t-shirts that are made entirely in Africa from African-grown cotton.

The second award winner is the school’s Center for MicroConsignment. The program helps individuals in developing markets sell essential products and services to others in their community. These products include water purification buckets, eyeglasses, solar lamps and wood-burning stoves.

Networking With the rise of social media and the prominence of the Internet, creative social entrepreneurs have an array of tools at their disposal. Some companies have even sprung up with the sole purpose of assisting social entrepreneurs in their growth.

“We’ve developed a grassroots-driven public relations and social media campaign to raise awareness with the target consumers, to bring the consumers into dialogue with the companies,” Hoffman, of Changents, said. “Our business is to create mutually beneficial partnerships between good corporate citizen companies and our change agents (social entrepreneurs). Typically those are Fortune 1,000 companies that are trying to find innovate ways to connect with customers or stakeholders. The change

agents put a human face on what the company wants to stand for.”

Along with exposure to large companies, these change agents are able to share their stories with potential volunteers to assist them in any number of ways with their projects.

“We have change agents who have websites built for them through volunteer requests,” Hoffman said. “We’ve had several get invited to speak at various events for which they got paid. There are a number of ways our change agents have gotten access to financial resources and other exposure that they wouldn’t have received if they weren’t part of our community.”

The Non-profit Myth A common misperception about social entrepreneurs is that they work strictly within a non-profit business structure, relying on donations, charities and grants to fund their business.

The reality is quite different. Many successful social entrepreneurs are part of enterprises that rely on profits just like any other businesses.

“There is nothing explicit about being a social entrepreneur that your objective is not to make money,” Hoffman said. “Our objective is decidedly to make money. Stoneyfield Farm, Tesla Motors, Honest Tea, and Ben and Jerry’s – (they) are all social enterprises…that are decidedly profit seeking ventures, and have or had an explicit social-good component to what they’re doing. Despite their social conscience, they are all still business people.”

So the reality is that for-profit and non-profit are by no means mutually exclusive. In fact, the new trend in the social sector is a hybrid non-profit/forprofit model, with each entity fulfilling a need of the other.

“Social entrepreneurship is not about giving a man a fish or teaching a man to fish, it’s about revolutionizing the fishing industry. It’s about asking questions of not just why does this person not know how to fish, but how come? It’s about beginning to understand and address what are these things called social Rick Smith problems.”

Founding Director, Center for Social Entrepreneurship, Farmer School of Business, Miami University

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Social Entrepreneurs: Agents for Change (continued from page 7)

In 2005 the non-profit Mozilla Foundation, which is dedicated to shaping the future of the Internet for public good, formed a for-profit subsidiary, Mozilla Corporation, to handle the growing popularity of the Mozilla Firefox Web browser. In this instance the for-profit earns more than $104 million a year from standard business practices while the nonprofit brings in more than $220,000 in donations.

How to Become a Social Entrepreneur For those interested in pursuing a career as a social entrepreneur, you’re in luck. The early steps are similar to any other business venture and should be very familiar to business students and professionals (and especially BGS members – the “best in business”).

“In my opinion, the backbone of any social enterprise is initially applying business discipline and processes to launching or building an enterprise,” Hoffman said. “Whether it’s for-profit or non-profit, the only difference is there are one or more specific environmental or social outcomes that are core components of the venture.”

Attracting impact investors can be the key to successfully launching a social enterprise. Impact investors seek to place capital in businesses that can generate financial returns as well as a social or environmental goal.

“You have to have the guts to stick to your true north,” Hoffman said. “What kind of social or environmental value are you going after? And make sure you include that in your venture from the beginning. Start measuring right away. Impact investors aren’t going to be receptive to vague notions of what could be delivered, they want solid metrics.”

Financial capital is one thing, but successful entrepreneurs know there’s more to a successful start-up than money.

“We have lots of other forms of capital that are important to entrepreneurial ventures,” Smith said. “We have social capital. You have to begin to build and leverage relationships. We talk a lot about networking. We also have human capital – how do you find the founding teams, advisors and people who can help build and develop your organization?

Political capital also takes on increasing importance.”

“The backbone of any social enterprise is initially applying business discipline and processes to launching or building an enterprise. Whether it’s for-profit or nonprofit, the only difference is there are one or more specific environmental or social outcomes that are core components of the venture.”

Alex Hoffman, Co-founder and CEO, Changents Growing Trend Despite the recent recession, social ventures continue to spring up. According to The Guardian, a U.K. newspaper, estimates suggest that globally more than 40 million people are employed as social entrepreneurs, with 200 million more volunteering.

So, after all that, is social entrepreneurship for you?

You take an idea and develop it. You create a successful business plan, attempt to bring in the necessary start-up funding, and associate yourself and your idea with other qualified individuals to help your business grow. You continue to market your venture to investors and consumers, always keeping its potential impact in mind. It’s a long, tough process, but one that offers a great deal of satisfaction for the entrepreneur and real, positive change for the community served.

It doesn’t hurt to have a strong support network to lean on in the tough times.

“If I could give any advice to aspiring entrepreneurs, it would be to surround yourself with positive people who encourage you,” said Dixon, who is committed to building The Adventures of Papa Lemon’s Little Wanderers book series. “You’re going to go through times where you feel like you want to give up, but having a strong support system will keep you pointed in the right direction.”

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R

egardless of the venture, it all starts with an idea – that critical moment where inspiration strikes and passion takes over. No one can predict where these ideas come from, but for those imbued with the entrepreneurial spirit, they are inescapable.

For Donald Schoendorfer, founder of the Free Wheelchair Mission, that moment came while vacationing in Morocco with his wife Laurie. The pair witnessed a disabled woman dragging herself across a dirt road while passers-by simply looked away. The scene stuck with Schoendorfer and would serve as his driving motivation from that point forth.

His inspiration: to develop a wheelchair that could be built cheaply and assembled easily, but still rugged enough to handle the rigors of the underdeveloped world. Schoendorfer found a severe shortage of wheelchairs in

the developing world, where there was a tremendous need but no solution.

An inventor holding more than 50 patents in the medical field, Schoendorfer began tinkering in his garage, searching for the perfect combination of material and design that would meet his goal – a simple wheelchair that could be produced at a very low cost and could benefit the greatest number of people in the shortest period of time.

Repurposing materials that were readily available, Schoendorfer assembled his first wheelchair using plastic patio furniture and a pair of mountain bike tires. The finished product could be easily assembled for about $28 and shipped anywhere in the world for $41.17.

Using this basic design, Schoendorfer launched the Free Wheelchair Mission in 2001, effectively marking his transition from engineer to social entrepreneur.

Since that time, Free Wheelchair Mission has blossomed as an international organization, distributing more than 590,000 wheelchairs in 81 countries. It’s even diversified its product offerings, developing a second wheelchair model. The Gen_2 offers a few more bells and whistles than the original, but is still designed to be economically efficient to manufacture and distribute.

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bgs international exchange Fall 2011 www.betagammasigma.org 9

“I started off as a very successful inventor in the back room, and made the companies I worked for a lot of money. I was well compensated, but it wasn’t to the point where I could stop everything and do something with my own money. I got to the point where I wanted to do more, and I realized there will probably be many people with issues they deal with and it was important for me to help them.”

Donald Schoendorfer, Founder, Free Wheelchair Mission Giving the Gift of Mobility (continued from page 9)

The organization continues to pursue its raison d’être – giving the gift of mobility.

Beta Gamma Sigma recently spoke with Schoendorfer, a 2005 recipient of the Society’s Medallion for Entrepreneurship (nominated by the Loyola Marymount University chapter), about the Free Wheelchair Mission and the challenges of launching a social entrepreneurship venture.

Beta Gamma Sigma: In 1977 you earned a doctorate from Massachusetts Institute of Technology. With that on your resume, and numerous career opportunities at your fingertips, what made you decide to dedicate your professional career to social entrepreneurship?

Don Schoendorfer: I saw all of my peers, and their job opportunities were in electronics or aerospace. They were working for big teams doing very marginal improvement to incredibly complicated problems.

There was no sense that they felt they were doing something important. I started off as a very successful inventor in the back room, and made the companies I worked for a lot of money. I was well compensated, but it wasn’t to the point where I could stop everything and do something with my own money. I got to the point where I wanted to do more, and I realized there will probably be many people with issues they deal with and it was important for me to help them.

BGS: How did you develop the idea for Free Wheelchair Mission?

DS: I started to get this feeling that I wasn’t going to be the billionaire I always envisioned myself to be when I was in college. My wife and I began to have significant challenges raising teenage daughters that brought us to our knees to surrender to God for help, because they were problems we couldn’t solve. I started to gain a different attitude about life in general and started to appreciate what I did have, which was a creative mind, good education and a good (knowledge) of mechanical things. I began 10 bgs international exchange Fall 2011 www.betagammasigma.org

to ask myself, “Is there something I could just do to not worry about money for a while?” I looked into various things just imagining what someone would need in a developing country.

The wheelchair was one of the various ideas I came up with; it was a very broad concept at the time.

BGS: Why wheelchairs?

DS: I interviewed numerous groups around California who had spent years trying to solve the problem (of not enough wheelchairs for the indigent needy in the developing world).

They were getting used wheelchairs, trying to fix them up. I could see from the obsolete parts…what kind of problem this was going to be.

BGS: How did you come up with the unique design of the wheelchair?

DS: I started to think, ‘What would be a simple, durable and functional wheelchair that would also be the least expensive I could come up with?’ The first

thing you need to do is come up with wheels to fit it. Bicycles are the primary source of transportation for the world, so I thought that was a good place to start. Since they are using (bike wheels) in this part of the world, they would know how to fix them. And the least expensive chair in the world is a white resin lawn chair.

BGS: What were some obstacles you faced at the outset, and how did you overcome them?

DS: All the business people I met asked really good questions, which I had no answer for. Where would the money come from?

Who would make them, distribute them? Who would do the training? It doesn’t even look like a wheelchair. At that point it was just so overwhelming. All I said was, ‘Have faith. It will work out somehow.’ I just felt compelled to do this.

BGS: What response did you initially get internationally?

DS: I got to India and there was no interest from our partners to help us with this new idea. I got another good dose of what it’s like to be a human being, tending to ignore the things you can’t deal with. That was the attitude they had about disability, since they never had anything to give to disabled people, and they

were already too busy trying to get the job done in the things they did have to give away. They were no help at all.

BGS: What inspired you to continue your efforts in the face of adversity?

DS: We were out in the suburbs of India, and we had set up a table so the local people could come to see a doctor. The first patients are coming and I see these people walking down this dirt road carrying something, taking turns, so obviously it was pretty heavy. As they get closer, I see they’re carrying a 70-pound boy who I later learned had cerebral palsy.

The mom comes up, puts her kid in the chair and starts pushing him around, and you could see the relief. They had a place for him where they didn’t have to worry about him.

BGS: What was your strategic plan for getting this company off the ground?

DS: This wasn’t going to be a scientific push; it was going to be a push of passion and compassion. I got the Nonprofit Kit for Dummies book, went through it page by page, and they had the

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bgs international exchange Fall 2011 www.betagammasigma.org 11

By: Josh McCarty, BGS Communications Associate

O

ne for me. One for you. Two for me. Two for you. Children everywhere have been using this method since the dawn of time to divide playthings and treats. Now, one of the world’s most successful social entrepreneurs has borrowed the practice and made it the concept behind his very successful business model.

Blake Mycoskie, the founder and chief shoe giver of TOMS Shoes, has pioneered a new business model that is revolutionizing corporate giving: One for One. TOMS, which is short for “Shoes for a Better Tomorrow,” promises to give a new pair of shoes to a needy child for every pair sold. Through this program TOMS’ customers have given more than 1 million pairs of new shoes to children in

23 different countries.

The giving process is much more than random donations. Careful market research has allowed the company to identify communities that are in desperate need for quality footwear for children. For the recipients, the shoes are not a one-time gift.

“Children grow out of shoes fast,” Mycoskie said. “So we aim to give them repeatedly whenever possible. Repeat giving allows us to learn more about the needs of the community so we can continue to improve the way we give.”

Mycoskie, a recipient of the 2011 Beta Gamma Sigma Medallion for Entrepreneurship (nominated by the University of Hartford chapter), sits at the head of a company that has earned a great reputation. In October 2007, TOMS Shoes received the People’s Design Award from Cooper-Hewitt National Design Museum. In February 2009, former President Bill Clinton introduced Mycoskie on stage as “one of the most interesting entrepreneurs I’ve ever met.” Bill Gates highlighted TOMS in a special article he wrote for Time magazine entitled, “How to Fix Capitalism”. And in spring 2009, AT&T featured TOMS in an international ad campaign.

Giving the Gift of Mobility (continued from page 11)

documents for…how to set up a board, by-laws, etc. and I just followed it. And here we are 10 years later.

BGS: What personal challenges did you face early on in this process?

DS: My wife and I were fortunate enough to have money in savings, and my wife sacrificed a lot in this mission. I resisted having a salary until my board told me as president I should have a salary. Our family made a bunch of major adjustments to our lifestyle as well. Here we are living in Orange County, the kids are going to private schools, and their peers are getting convertibles for graduation. Suddenly we’re buying our kids $4,000 Saturns. We didn’t go on fancy vacations. You get to a point where you stop looking at everything you need because you don’t like what you have, you look at what you have and not needing anything more.

BGS: How did you go about soliciting volunteers and donations for the very first time?

DS: A year went by and I was just worried about getting these things made, not worried about where the money would come from. But people started to send money. So I had to find someone who would accept the money and give them a tax benefit, so I found a couple of organizations who would shelter us until we got our own 501(c)(3), which takes about a year. I go to a big church, and you can usually find someone who is interested no matter how crazy your idea is. Through word of mouth I could find people who were successful and I could work my way through people who had the most passion and ask them if they wanted to be on the board, and was blessed with a group of people.

BGS: What kind of effect has the recent recession had on volunteer rates?

DS: There have been a couple cycles in the last 10 years. We started out growing like crazy. When you start with nothing it’s 12 bgs international exchange Fall 2011 www.betagammasigma.org

easy to grow. In 2008 we cycled back though, with a decrease in total funding. Now we’re growing, but we have to do a lot more research on donors and thoughtful analysis on what we email out.

BGS: Throughout your professional career, you have received many prestigious awards, including the 2005 Beta Gamma Sigma Medallion for Entrepreneurship. Which award means the most to you?

DS: They’re all special. If I had to single one out, in 2008 I received the Above & Beyond Citizen Award from the Congressional Medal of Honor society. They got together four years ago and decided they wanted to have an award of similar significance, only for civilians. The Medal of Honor Society went through all 50 states and picked three winners and we were one of them. It was presented to me at the Arlington Cemetery, given to me by Colin Powell. I was able to spend the entire day with them and it was quite an honor.

BGS: What would your advice be to BGS members who may be considering a career as a social entrepreneur?

DS: One important piece of advice is associating with the end recipient of the social program to get an idea about the final benefit of the work. You could just answer ads in the newspapers for organizations trying to do social entrepreneurship, and it could be just like a regular job, and you wouldn’t know the end result. Some of these organizations get really big. You can get discouraged because it’s all work and no focus on the end result.

If you were able to go to a place and see someone who is poor or suffering, or crawling on the ground because he or she doesn’t have a wheelchair, that makes up for the sacrifices of being in this field. Chances are people in this field are not going to be billionaires. It’s not like setting up a business. The reward comes from seeing the effect on people you help through the process.

For more information on Free Wheelchair Mission, please visit their website, www.freewheelchairmission.org.

Running a Social Enterprise The challenges of running a social entrepreneurial venture are much like those of traditional enterprises.

For any business owner, the first challenge is finding and retaining a staff of qualified employees that buys into the corporation’s culture. Equally imperative, however, a new business owner must earn the trust and respect of employees at all levels. For Mycoskie, gaining credibility with his staff at TOMS started with active participation at the bottom.

“In terms of leadership, what I’ve found is you really do have to wear every hat before you can ask other people to do it,” Mycoskie said. “So with TOMS Shoes, even though we’ve grown really fast, I have kind of worn every single hat along the way. I might’ve only worn it for a week or two. But at least when I hired that person or brought that person on, I’ve been able to say, ‘These are the challenges. These are the opportunities, and go after it.”’

After the trust is established on both ends, Mycoskie believes there are times, from a management perspective, that less is more.

“One of the things that is a cornerstone of my business philosophy and leadership is really not to micromanage people,” he said. “Spend a lot of time making that decision on who to hire. Once you hire them, just let them go.”

As chief shoe giver, Mycoskie spends much of his time away from the TOMS office.

His busy travel schedule makes it imperative that he trusts his employees to get the job done.

“I’m only in the office maybe five or six days a month,” he said. “And there are times when I’m not in the office for two months at a time. So you can imagine a fast growing company of a lot of young people, who don’t have a lot of experience, with a boss that’s only 31 years old, who’s never around. So it really takes a lot of trust in the people that you have.”

Mycoskie believes that one of his strengths as a social entrepreneur and business leader is his ability to evolve.

“To be a good leader from afar, you’ve got to be able to use technology and tools available to lead people,” he said. “I really embrace the use of technology – writing a

blog, keeping the whole team kind of understanding what I’m doing every day when they don’t see me every day.”

How it All Started Mycoskie’s entrepreneurial career was launched following an injury during his sophomore year at Southern Methodist University.

“I was on crutches,” he said, “and so I couldn’t take my laundry, actually, downstairs. I came up with the idea to

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bgs international exchange Fall 2011 www.betagammasigma.org 13

“I was sitting in a café one day and met a couple girls doing volunteer work.They were collecting shoes for children who didn’t have them and needed them for school. I invited myself to go along with them. When I saw how happy and excited they were to get a new pair of shoes, I knew I had to do something.”

Blake Mycoskie, Founder and Chief Shoe Giver, TOMS Shoes One for One (continued from page 13)

start a business called EZ Laundry, where we’d pick up and deliver laundry. And I didn’t even know what an entrepreneur was at that point. But very shortly, the business started taking off. We started getting more trucks and employees. I started learning about all this stuff. It was then I realized that this was something that I loved and I wanted to continue.

And I haven’t stopped since then.”

Mycoskie’s entrepreneurial spirit would continue to grow, and several start-up ventures would follow.

Between business ideas, Mycoskie found time to compete in CBS’s primetime series, The Amazing Race.

Partnered with his sister Paige, Mycoskie raced around the world for 31 days and came within four minutes of winning the $1 million grand prize.

After losing The Amazing Race, Mycoskie approached the winning team and persuaded them to invest in his next business venture. He then approached winners of other reality shows, such as Survivor, and got them to invest, too. That became the seed money for Mycoskie’s cable TV channel, which was, appropriately, the first channel dedicated entirely to reality programming.

“It was a time, in 2005, that we’re on the end of kind of this boom of launching new cable channels and beginning of the boom of kind of digital networks, and so we were kind of right in the middle,” he said. “And the only way that you could really pull it off is if you had a ton of money or a ton of programming already, which we didn’t really have either.”

Mycoskie’s reality network did not work out. For some budding entrepreneurs this would have been a discouraging set-back, but Mycoskie said if he could offer one piece of advice to aspiring entrepreneurs, it is to make sure you get as much as you can out of any situation, and then it will never be a failure.

“We did everything we could,” he said. “So I learned a lot from that. I don’t think it was a failure, except for the fact

that financially it wasn’t a success.”

A vacation trip to Argentina led to the idea behind TOMS Shoes.

“I was sitting in a café one day and met a couple girls doing volunteer work,” he said. “They were collecting shoes for children who didn’t have them and needed them for school. I invited myself to go along with them. When I saw how happy and excited they were to get a new pair of shoes, I knew I had to do something.”

Mycoskie’s initial modest goal was to help 250 kids with the One for One model.

However, it proved much more effective than Myscoskie anticipated, providing for 10,000 shoes in its first two months.

Future of TOMS “I think with TOMS we’re at that stage that you get to, as an entrepreneur, where we’re just reaching, just beginning to really take off,” Mycoskie said. “We’re helping a lot of people. But I still think it’s just the beginning.

“For me, as an entrepreneur, it’s really focusing on getting systems in place for this explosive growth that’s getting ready to happen and spending my time building relationships with CEOs and other companies that can benefit by participating in the TOMS Shoes model.”

Mycoskie’s story is one of perseverance and innovation. To achieve his level of success, one might think it comes down to dollars and cents, careful financial planning and a well-designed business model to start. But much like the majority of his business ventures, Mycoskie’s advice to the entrepreneurs of tomorrow could be categorized as unconventional.

“Just try to launch your idea for the least amount of money you possibly can and with the least…barriers to entry,” he said. “And then if it works, you can go back and write the business plan and put together the funding and all that. But I think so many people spend so much time trying to raise money for funding and business plans and focus groups that, by the time they actually prove it, they’ve missed the opportunity because someone else has already done it.”

Best-selling Author In September 2011, Mycoskie added another accomplishment to his resume, becoming a New York Times best-selling author for his first book, Start Something that Matters. The book not only focuses on lessons Mycoskie has learned from his time with TOMS, but also shares stories of other social entrepreneurs. Among those mentioned in his book include Lauren Bush, co-founder of FEED Projects, and Tim Ferriss, author of “The 4-Hour Workweek.”

Staying true to his One for One model, for every copy of Start Something that Matters sold, a children’s book will be donated to a child in need.

(Comments from Blake Mycoskie were taken from an interview Mycoskie gave to bigthink.com. The interview in its entirety can be found at bigthink. com/blakemycoskie.)

14 bgs international exchange Fall 2011 www.betagammasigma.org

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Volunteering On the Clock Employee Volunteer Programs By: Seth Treptow, BGS Communications Director

I

n today’s ever challenging business world, corporations are constantly on the lookout for ways to engage, excite and re-vitalize their employees.

One avenue that many companies have explored is that of corporate sponsored volunteer programs.

The idea behind such programs is a simple one. Companies compensate their employees for the time that they give to community organizations and causes. In return, employees gain a greater appreciation for their employer and a deeper sense of belonging. But does this really work? Will an individual appreciate their employer more because of such programs?

There is evidence to suggest they do just that.

According to a 2010 study conducted

by Cone Communications, a large majority (77 percent) of Americans believe it’s important for companies to provide employees with opportunities to become involved with causes. And when a company gets their workforce highly involved in such efforts, employees are 18 percent more likely to feel a sense of loyalty and 17 percent more likely to take pride in their organization.

A 2010 study conducted at The University of Florida backs up these findings. The study found that employees who volunteered felt more connected to their companies and were more likely to work harder on tasks. Respondents also reported speaking more positively about their employer in public and being less likely to daydream, cyber loaf or take

extra time off work. Employees felt a stronger bond with their company because they believed it shared their ideals in caring about the community.

And the benefits might not stop there. A 2010 study conducted by VolunteerMatch and UnitedHealthcare found that companies reported improved physical health in those employees that volunteer. Specific health benefits included reduced obesity and stress, increased levels of activity, a more positive emotional state and higher levels of satisfaction – not with their job, but with life.

The idea of corporate and employee volunteering is by no means new, but it is picking up steam. A pair of studies published in the Journal for Business Ethics found that one-third of corporations in the United States now embrace some form of employee volunteering, representing a growth of nearly 150 percent in the last three decades.

“It’s been around in one form or another since the turn of the 20th century, but it’s really become a phenomenon as of late,” explained Chris Jarvis, co-founder and senior consultant for Realized Worth, a leading employee volunteering and corporate social responsibility consulting firm. “The economic collapse in 2008 really helped catapult it forward. After that, instead of donating philanthropic dollars to causes, companies started donating warm bodies – their employees.”

According to Jarvis, employee volunteer programs worked for companies on several fronts.

“One, they felt it was more affordable; two, it would help morale; and three, it could actually be used as a business strategy to keep employees working,” he said.

“Toyota had to cut back on production at some of their plants, and instead of letting their employees go, they put them to work in the community.

“It served a number of strategic purposes and at the end, companies realized that this wasn’t all that bad,” Jarvis continued. “Because it goes beyond philanthropy, and because there are some definite succinct business benefits, this has continued to grow.

As a practice it has really taken off in a big way over the last few years.”

The size, scope and style of employee volunteer programs vary greatly. Some companies establish relationships with existing non-profits and loan out teams of employees. Some companies provide paid time off, or other compensation, for employees to volunteer for an organization of their choice. Some are year-round programs. Some are concentrated efforts, focusing on a single month or weeklong push towards volunteer service.

More often than not though, volunteer programs start with one big event – what some might call the “work day.”

16 bgs international exchange Fall 2011 www.betagammasigma.org

“You need something that will also capture the hearts and minds of the one out of three that do volunteer. You need something to support their efforts, something that will create a win-win situation for them where they are active in the community, but able to bring that energy and enthusiasm back to the accounting department as well.”

Chris Jarvis, Co-founder and Senior Consultant, Realized Worth “We always recommend the one big event that you can point to on the horizon. It’s simple, it’s accessible and everyone can get involved. It’s going to be fun and it’s a great experience,” Jarvis said. “The fact is that two out of three employees won’t volunteer. So this is something you can invite them to and turn them on to it.”

But if a company has any plans of reaping the long-term rewards of an employee volunteer program, they can’t stop there.

“You need something that will also capture the hearts and minds of the one out of three that do volunteer,” said Jarvis. “You need something to support their efforts, something that will create a win-win situation for them where they are active in the community, but able to bring that energy and enthusiasm back to the accounting department as well.”

One common mistake is a lack of planning around brand alignment.

“What are the resources the company has that can be used to make an impact?

What are the skills that we have that can address the issues at hand? All too often it’s just what is going to look interesting and splashy, and what will make the most impact in the newspaper.

“We are working with companies to figure out how to do it and how to integrate

it into their overall business strategy,” he said. “There’s no one-size-fits-all approach. You can have a uniform, centralized approach, but how it works in Canada will be a lot different than in Johannesburg, South Africa.”

Given that there is no “program in a box” kind of option available, corporations interested in launching a program of their own must resort to planning. The key though, is starting with the right questions.

If you are reading this article and wondering “Why should my company start a volunteer program?” then the rest of this piece may not be for you.

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bgs international exchange Fall 2011 www.betagammasigma.org 17

Volunteering On the Clock (continued from page 17)

“In all honesty, if you are asking why, I would say that you aren’t ready,” explained Jarvis.

According to Jarvis, companies have to evolve through several phases of corporate citizenship before any kind of volunteer program will begin to pay benefits to employer or employee.

Stage 1: Stay Out of Jail “First, they go through the ‘Stay out of jail’ phase. They see good corporate citizenship is paying their taxes and abiding with the law. That’s the most basic level.”

Stage 2: License to Operate “This means companies that don’t want to pay extra for permits, that want to get along with their neighbors, that want to get zoning passed. They want a license to operate that will allow them to be more productive and popular in the community.”

Stage 3: Making the World a Better Place “You begin looking at your company in terms of the easy things – recycling, turning off lights, saving water – that save money but also will make the company a

better citizen of the planet.”

It’s at the third stage that employers begin thinking about employees getting active in the process. It’s also at this stage that companies will reach out to firms like Realized Worth for help.

“They have a sensibility about them and they want to do this because it makes sense. Now they need to know how, not why,” Jarvis explained. “How do we do this, and how do we get where we want to go? At this stage, where they want to go may be woefully misinformed, but that doesn’t matter. It’s a different conversation, rather than why.”

Jarvis compares the progression of the development of an employee volunteer program to a different set of steps – the twelve-steps.

“You can’t convince someone they need to go to rehab, or tell him or her why they need to be clean and sober. Everyone has to reach his or her own bottom,” he said. “You have to be sick and tired of being sick and tired. For companies it’s the same thing. They have to reach a point of crises. The ones that come to us are asking, ‘How can we get clean and sober?’ not why.”

For companies at this stage of corporate social responsibility sobriety, the first step is giving a voice to employees.

“You have to understand what the employees think about the brand as it relates to their corporate citizenship and what has their experience been. We have to figure that out,” explained Jarvis. “We go through what we call the listening phase, where we do a lot of talking with employees at every level and division of the company.”

During this listening phase, Jarvis is looking for two kinds of people – those who already volunteer, and those who don’t.

“We are looking for the one-out-of-three who are active in the community. They probably aren’t doing it through the brand. It’s something they are doing on their own time. It’s very personal, and the idea that the company is now going to try to co-opt their good intentions and efforts can come off very offensively,” Jarvis said.

One way to counteract this potential negative is to develop a sense of collaboration.

“We need to capture that one-third, and capture their hearts and minds,” said Jarvis. “We collaborate with them to determine how to do it and what we’re after.”

For the other two-thirds of the company, the ones who don’t volunteer, the key is to

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18 bgs international exchange Fall 2011 www.betagammasigma.org

convert them into potential volunteers.

“We have to offer them an outstanding experience. We work with the company to design an experience that will create an interest in this group,” explained Jarvis. “Not all of them will become involved, but many will. And if it’s a good experience they will try it again.”

Once a company has gathered the necessary information from listening and collaboration, they can move on to program design and implementation.

Following a program’s implementation, the potential benefits to employer and employees are many and varied, many stemming from an increase in employee “flow.”

“Flow is a great concept. When you are in the moment, in the zone, things just kind of click. Your hand-eye coordination is better, your brain is on, you have better reflexes, you’re hot. In sports this happens all the time. A hockey player stick handling down the ice is in flow. You can achieve flow in the workplace as well,” explained Jarvis. “You just have to have meaning. When your work has meaning and you have a sense of purpose about what you are doing – that it matters – you are far more likely to have these moments and periods of flow.

“A study done in Hungary found that employees of a particular factory who volunteered in the community didn’t lose as many thumbs. They were more aware of what was going

The Little Give There is no universal employee volunteer program, no one-sizefits all. But to be successful – providing value to the company, the brand, employees and the community – corporations must do their homework.

One organization that has done just that is Edelman Canada, the Canadian branch of the international public relations firm Edelman, through its program “The Little Give.”

Here’s how the program works: • To ensure cross-practice and cross-level interaction, Edelman’s Toronto office is divided into 10 teams.

• Each participant donates 48 hours of his or her time to help 10 local charities and non-profit organizations with the public relations challenges they are currently facing.

• At the end of the program, teams gather in celebration to present the results of their time spent volunteering while a panel of judges determines who “wins.”

Edelman employees benefit from The Little Give as they build teams and gain new skills. The community benefits from problems solved and money donated, and the company benefits as their employees become better, more-educated people and their reputation increases in the community.

So what makes the program successful? Here are five key points.

1. The volunteer activities align with the brand.

As a large public relations firm, Edelman Canada’s employees include graphic designers, marketers, writers, advertising experts, web designers and software engineers. For The Little Give, Edelman engages in projects that utilize these skills. Some of the non-profits they work with needed help promoting an event, some needed to create a business plan, and others needed a website overhaul. Each of the projects selected for The Little Give align with the services provided by Edelman, and build upon the specific skill sets offered by the company’s employees.

2. The volunteer activities are high impact, meaning: without Edelman, these activities could not take place.

This point connects directly with point #1. There’s nothing wrong with taking employees out to plant trees, but anybody can do that.

Excellent employee volunteer programs depend on a company’s unique resources in order to function.

3. The volunteer activities make the company better at what they do.

When Edelman employees were engaged, they found themselves practicing essential business skills, including: project management, problem solving, resource identification, public presenting and teamwork.

While the task itself required skills regularly used in their everyday jobs, the work that surrounded it served to make them higher functioning employees overall.

4. The volunteer activities are so integrated with the business that extra costs are minimal.

Edelman plans each year to donate a certain amount of money to their partner charities through The Little Give (this year each charity received $2,500 to be used as part of the project), but the running of the program itself is light on cost. Because the skills and materials necessary are built into the employees themselves as well as that initial $2,500, Edelman does not have to put piles of cash down for trees to plant or experts to hire or even materials for promotion. They didn’t even pay for their postproject celebration space – it was provided by a client, Labatt Brewing Company.

5. The volunteer activities are fun.

Never underestimate the power of turning work into play. The Little Give is something Edelman employees eagerly look forward to each year. It is a sense of intrinsic motivation rather than obligation that drives them. From working as a team with colleagues they’ve never met before, to practicing long-forgotten skills, to solving a major problem for a non-profit that needed the help – and celebrating well at the end of it all – the elements of fun in The Little Give are nearly endless. bgs international exchange Fall 2011 www.betagammasigma.org 19

The Altruistic Millennial

P

erhaps more than any other, one employee demographic – the Millennials – have responded positively to employee volunteer programs.

This group – also known as Generation Y, the Net Generation, Generation Next and the Echo Boomers – has been a concern for many employers since their initial entry into the workforce. So much so that many large corporations have sought the help of consulting firms to determine how best to handle the transition from a baby-boomer fueled work force to one run and maintained by the Generation Y sect.

Who knew that paying them to volunteer might be just what the doctor (or consultant) ordered?

Millennials have been stereotyped as a self-involved and self-important lot. The common perception has been that Millennials are needlessly impatient and demanding; that they come to the workforce with unrealistic expectations for salary, advancement opportunity and flexibility; and that they don’t know the meaning of the word “no.” Whether you agree with these sentiments or not, the perception is still out there.

A 2008 episode of 60 Minutes provided a good summary of the group’s reputation.

“They were raised by doting parents who told them they are special, played in little leagues with no winners or losers, or all winners. They are laden with trophies just for participating and they think your business-as-usual ethic is for the birds. And if you persist in the belief you can take your job and shove it.”

Johnny Paycheck references aside, this has been the over-riding characterization of those born between 1980 and 1995. Regardless of whether this is accurate or not, the fact remains that employers have struggled to find a way

to connect with the Gen Y crowd.

This group has also earned a bit of a reputation with corporate recruiters for their non-traditional perspective on employment and employer selection. Instead of salary and benefit packages, Millennials are inquiring about a potential employer’s corporate social responsibility efforts. A 2010 report issued by Net Impact found that almost half of Generation Y interviewees raise the issue of CSR during the hiring or interview process.

Furthermore, more than half of the Millennials responding to the 2011 Deloitte Volunteer IMPACT Survey said they were likely to factor a company’s commitment to the community into their decision if choosing between two jobs with the

Volunteering Off the Clock Of course, not all volunteering is done on company time.

According to the Corporation for National and Community Service (CNCS), 62.8 million adults volunteered 8.1 billion hours in 2010. That’s roughly the same as if every single person in the U.S. volunteered for an entire day without sleeping.

In total, the CNCS estimates the value of volunteer service in 2010 at about $173 billion.

So who is volunteering the most, and who is doing what? Here is a glimpse of what volunteers have been up to lately:

What Volunteers Are Doing

23.5% work to meet the needs 20.3% contribute sweat hours 18.5% help students succed of their neighbors by collecting, through general labor or in school and prepare for the preparing, distributing, or providing transportation future by tutoring and teaching. serving food.

20 bgs international exchange Fall 2011 www.betagammasigma.org

17% mentor youth.

same location, responsibilities, pay and benefits.

Once in the workplace, the Deloitte survey found that Millennials who frequently participate in workplace volunteer activities are far more likely to be proud, loyal and satisfied employees compared to those who rarely or never volunteer.

Specifically, the study found that Millennials who frequently participated in their company’s employee volunteer Not NotLoyal Loyalatat AllAll activities were: • Twice as likely to rate their corporate culture as very positive (56 percent vs. 28 percent); Not Not Very VeryLoyal Loyal

• More likely to be very proud to work for their company (55 percent vs. 36 percent);

• More likely to feel very loyal toward their company (52 percent vs. 33 percent); • Nearly twice as likely to be very satisfied with the progression of their career (37 percent vs. 21 percent); • More likely to be very satisfied with their employer (51 percent vs. 32 percent); and, • More likely to recommend their company to a friend (57 percent vs. 46 percent).

So in addition to their impatience and general hyperactivity, it turns out that Millennials tend to be idealists, altruists and philanthropists. Go figure.

Somewhat SomewhatLoyal Loyal

Q) To what extent do you feel a sense of loyalty to your company?

Millennials who Always/ Often Volunteer

connect with

Beta Gamma Sigma

Very VeryLoyal Loyal Millennials

who Rarely/ Never Volunteer

online.

Facebook

Become a fan of Beta Gamma Sigma www.facebook.com/betagammasigma

LinkedIn

Very Loyal

Join the Society’s group of over 31,000 members www.betagammasigma.org/linkedin

Very Loyal Somewhat Loyal Very Loyal Somewhat Loyal Very Loyal

Very Loyal

Not Very Loyal Somewhat Loyal

Somewhat Loyal

Not Very Loyal Somewhat Loyal

Not Very Loyal

Twitter

Follow Beta Gamma Sigma on Twitter www.twitter.com/bgshonorsociety

Not Loyal at All

Not Loyal at All Not Very Loyal Not Loyal at All Not Very Loyal

Top-Ranked Volunteer Activities

Not Loyal at All

Volunteer Rate

Not Loyal at All

(of the U.S. population)

Millennials Ages 16-28

#1

#2

#3

#4

Fundraising

General labor/ transportation

Mentor youth

Collect, prepare, distribute or serve food

Fundraising

Tutor/teach

Collect, prepare, distribute or serve food

21.2%

Generation x 29.2% Ages 29-45

Mentor youth

Baby Boomers 28.8% Ages 46-64

Older Adults Age 65+

Fundraising

23.6%

Collect, prepare, Professional distribute or serve food management assistance

Collect, prepare, distribute or serve food

Fundraising

Professional management assistance

General labor/ transportation

General labor/ transportation

Source: Corporation for National and Community Service’s Volunteering in America 2011 report bgs international exchange Fall 2011 www.betagammasigma.org 21

Volunteering On the Clock (continued from page 19)

on because they had meaning and purpose in their lives,” he said. “But, the volunteer work has to be meaningful; it has to connect with the person’s motivations – what we call an intrinsic motivation. That’s the key. They have to be achieving a sense of purpose out of it. Those things lead to flow.”

And the benefits do not stop with the one-third of the company that will actually volunteer. While they may not reach the full sense of flow gained by those who do engage in volunteer activities, non-volunteers still tend to be more engaged.

“Just being at a company where CSR is more prevalent, where there is a mandate to get involved in the community, and where there is visibility for their colleagues being involved in the community, does raise employee satisfaction and pride in the company,” said Jarvis. “They’ll be happier to be at a company where it’s happening, but they won’t have the direct benefit.”

Of course, there will always be naysayers who will point to corporate volunteer programs as being nothing more than an attempt at good press in the local paper – a point which Jarvis concedes as sometimes being the case.

“A lot of companies just want a good photo op. Their peers are doing it and they want to do it to. It’s not because these people are bad or evil, it’s usually because they have never thought beyond the visual,” said Jarvis.

Along those same lines, there are some in the business world who don’t see the value in having a corporate sponsored volunteer program at all.

“There are a handful of Milton Friedman type people who say that companies have no business doing philanthropic work in the community. I don’t think companies should be doing charity either,” Jarvis said. “Companies shouldn’t be doing things that don’t contribute to the bottom line. If your employee volunteer program cannot be measured and demonstrate its benefit to the productivity and profitability of the company, you shouldn’t be doing it, because it’s not sustainable. That’s the key. Employee volunteer programs need to be sustainable.”

Regardless of where you stand on this issue, the fact remains that corporate volunteer programs are on the rise.

More and more companies are jumping on this trend and its potential benefits to employee engagement, morale and corporate branding.

It may not be a new concept, but it’s one that is growing fast. So if your company isn’t paying you to volunteer yet, they may be soon.

What did you think about this issue of the International Exchange?

Share your thoughts with the editor: exchange@betagammasigma.org

“Wow! I passed all 4 parts the first

Enjoy the Benefits of Your Beta Gamma Sigma Lifetime Membership. time. I could not have done it without Becker. The materials are great and

the national instructors are amazing.

Thanks so much to everyone at Becker for helping me pass.”

- CPA Candidate and Becker Alum

Beta Gamma Sigma strives to provide a lifetime of benefits for prepared for Society members. Whether you are new to the career front, or You’ve got this test covered. Becker Professional Education helped accounting professionals pass the CPA exam with have been in the has workplace for years, BGS is pleased to offer confidence for more than 50 years.

With Becker you can: · Pass at double the rate of non-Becker candidates* a variety of valuable benefits and offers. ·

Join over 400,000 successful candidates who prepared with Becker

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Log on to becker.com/cpa and prepare to succeed.

* Becker Professional Education students pass at twice the rate of all CPA exam candidates who did not take a review course from Becker, based on averages of AICPA-published pass rates. Data verified by an independent, third-party firm. ©2010 DeVry/Becker Educational Development Corporation.

All rights reserved.

®

View the complete list of the many benefits available at:

www.betagammasigma.org/benefits.htm 22 bgs international exchange Fall 2011 www.betagammasigma.org

BGS: Celebrating a Century of Excellence As you may know, Beta Gamma Sigma will mark its 100th year as an Honor Society in 2013. The Centennial Celebration will officially kick off on the Society’s 99th anniversary – February 19, 2012 – and will run through the end of 2013.

BGS has several projects and programs in the works to recognize this momentous occasion, and to better engage with you – the Society’s lifetime members. You will be hearing more about the Society’s plans in the coming months, but we wanted to give you a preview of a few of the things ahead.

BGS is Everywhere As the world’s first truly international honor society, Beta Gamma Sigma members can be found around the world. Members will be encouraged to send photos of themselves from wherever they might be located…along with a special new friend to BGS. More on that at a later date.

BGS Gives Back Imagine the level of charity that could be accomplished if only 5 percent of Beta Gamma Sigma’s 675,000 members volunteered their time. Now imagine what would happen if that number doubled or tripled. How many hours could be donated? How many organizations could be served? What impact could be made? Beta Gamma Sigma wants to know. Beta Gamma Sigma is a powerful organization with extremely talented and knowledgeable members, and BGS Gives Back will provide the opportunity to demonstrate the positive impact the Society and its members have on the world.

B-Zine: Centennial Edition BGS will launch a new monthly edition of its email newsletter, the B-Zine. The new edition will focus on the Society’s Centennial activities including celebrations, projects and programs. Issues will also include feature articles on BGS members who have or are making a difference. If you know of a BGS member that should be featured, let us know.

Meet the Leaders of Business There is no way that BGS can hold a single event featuring a notable keynote speaker and expect members from around the globe to be able to attend. So, we are bringing the keynote speaker to you. Starting in Spring 2012, BGS will hold a series of videoconferences that will provide BGS members with access to several key world business leaders. These events will be simulcast in a variety of locations, allowing attendees at each site to participate and interact.

We hope that you will join us in celebrating the Society’s Centennial, and that you’ll take this opportunity to form a deeper relationship with Beta Gamma Sigma. After all, this is your honor society, and we are happy to have you as part of the “Best in Business.”

Don’t miss any information about Beta Gamma Sigma’s Centennial programs and activities! Please make sure the Society has your most current and used email address. bgs international exchange Fall 2011 www.betagammasigma.org 23

With 26 chapters around the globe, the BGS Alumni Network always has a great deal going on. Some events provide attendees the opportunity to learn about a key business topic from someone in the know. Others give the chance for attendees to meet, mingle and network. Still others offer a well-deserved chance to kick back and have a good time.

Regardless of the type of event being held, one thing is certain: BGS Alumni Network events provide a great opportunity to connect with your fellow “Best in Business.”

To give a better idea of some of the activities taking place at the alumni chapter level, here’s some information about a few recent Alumni Chapter events.

Los Angeles Area Alumni Chapter The Los Angeles Area Alumni Chapter went to the Hollywood Bowl for a Tchaikovsky concert with fireworks and the University of Southern California marching band on September 10, 2011. Attendees were provided with a great opportunity to make new friends and enjoy some excellent classical music.

Seattle Area Alumni Chapter On September 25, 2011, the sun came out for members of the Seattle Area Alumni Chapter, as they hiked along the Preston-Snoqualmie Trail. The four-mile hike provided attendees with a great opportunity to get to know fellow Beta Gamma Sigma members while enjoying the natural beauty of western Washington, including a beautiful overlook of Snoqualmie Falls.

South Florida Area Alumni Chapter More than 50 business professionals were on hand July 27, 2011 for an event presented by the South Florida Area Alumni Chapter. The evening, hosted in partnership with the National Association of Women MBAs, featured Birame Sock, founder of two successful technology companies: the wireless entertainment provider Musicphone and MyReceipts, the leading digital receipts platform recently noted as one of the top 25 women-led startups to watch by Fast Company. Sock delivered an inspiring and personal presentation about lessons learned on her rise to leadership as a woman in the male-dominated world of high technology.

Beta Gamma Sigma Alumni Chapter Award Recipients The BGS Alumni Network seeks to add value to the Society’s lifetime membership by providing networking and educational opportunities for members who have moved beyond the college campus. Without hard working Alumni Chapter volunteers, and compelling chapter programming, none of this would be possible. As such, each year Beta Gamma Sigma selects one chapter member and one chapter program for special recognition. This year’s alumni chapter award recipients are: Thomas A. Schroeder from the Atlanta Area Alumni Chapter was named the 2011 BGS Outstanding Alumni Chapter Member.

Tom works tirelessly towards the mission and goals of the Atlanta Alumni Chapter by creating bold new opportunities and initiatives and launching them.

The 2011 Alumni Chapter Award for Best Program or Activity goes to the South Florida Area Alumni Chapter for its Executive Speaker Series, which consists of regular speaker based events. The series featured notable guest speakers, providing attendees with interesting new perspectives on a variety of timely business and leadership-oriented topics.

24 bgs international exchange Fall 2011 www.betagammasigma.org

Alumni Chapter Activities Atlanta Area Alumni Chapter November 15, 2011 Speaker Event, Michael J. Coles, Executive Chairman and President of Global Onboard Partners; Founder, Great American Cookie Company; Former CEO of Caribou Coffee Company

Cleveland Area Alumni Chapter November 10, 2011 Celebrity Bartending at the Club at Key Center

December 13, 2011 Speaker Event, Connie Engel, Partner at Childress Klein Properties

Denver Area Alumni Chapter March 11, 2011 BGS at the Colorado Avalanche Game

January 24, 2012 Speaker Event, Daniel S. Papp, Ph.D., President, Kennesaw State University Boston Area Alumni Chapter June 28, 2011 Speaker Event: “Managing thru Turbulent Times: How one Non-Profit has Weathered the Economic Storm” Charlotte Area Alumni June 16, 2011 BGS and Baseball Social at the Charlotte Knights Game September 21, 2011 Mary Schweitzer, Ph.D., “How Anthropology Drives Global Business Success” October 19, 2011 Chip Dillman, CPA, CFE, “Business Fraud and the Accounting Perspective” Chicagoland Alumni Chapter July 21, 2011 Speaker Dinner Series: “Consulting: Building and Maintaining Client Relationships”

January 14, 2012 Second Annual Technology and Innovation Conference at the Idea Center

July 18, 2011 Presentation and Discussion: “Ethical Business Leadership” September 19, 2011 BGS night at Coors Field for the Rockies vs. the San Diego Padres Hong Kong Alumni Chapter July 20, 2011 Happy Hour Gathering October 20, 2011 Happy Hour Gathering Los Angeles Area Alumni Chapter May 3, 2011 Sons of the American Revolution Dinner Meeting, Jonna Doolittle Hoppes, “The Extraordinary Life of Jimmy Doolittle” August 6, 2011 Networking Event at Angel Stadium September 10, 2011 BGS Night at the Bowl – Tchaikovsky and Fireworks

September 22, 2011 Speaker Dinner Series: “Finance Across Industries”

New York City Alumni Chapter October 26, 2011 Dwayne Spradlin, President and Chief Executive Officer, InnoCentive, “The Innovation Revolution: It’s All about Crowdsourcing” November 26, 2011 10th Annual All MBA Soiree New Zealand Alumni Chapter June 8, 2011 Networking Event, Discussion on “What is the most important skill for career success in the 21st century?”

Northern Germany Alumni Chapter October 22, 2011 Kickoff Event and Election of Officers Philadelphia Area Alumni Chapter July 12, 2011 Luke Tilley, Regional Economic Advisor for the Federal Reserve Bank of Philadelphia, “Economic Update and Current State of the Financial Regulatory Reform”

South Florida Area Alumni Chapter July 27, 2011 Birame Sock, Founder and CEO of Third Solutions, Inc., “Breaking Though – Rising to Leadership as a Woman in a Male-Dominated Industry” August 13, 2011 Family Night at the Florida Marlins, Networking Tailgate and special presentation

by Marlins Executive Chad Johnson September 29, 2011 2011-2012 Kickoff Event, R. Michael Brown, “Traditional Marketing vs.

Marketing & PR 2.1” November 1, 2011 Speaker Event: “Business & Law” a Discussion with former Chief Justices of the Florida Supreme Court Spain Alumni Chapter October 19, 2011 Carlos de Torres Gimeno, General Director of the OEM Division for Microsoft Ibérica, “Microsoft: Strategic Decisions for the Last 10 Years”

September 22, 2011 Educational Seminar: “Networking Skills to Build Your Sales Culture”

St. Louis Area Alumni Chapter May 26, 2011 Networking and Speaker Event: “Ethics in Decision Making: Why is doing the right thing so hard? Can you see the long term benefits of enduring short term pain?”

Phoenix Area Alumni Chapter June 15, 2011 Speaker Series Event: “Starting a New Business”

September 22, 2011 Networking and Speaker Event: “Wines of the World: Selection of Wine for Various Moods”

September 21, 2011 Speaker Series Event: “Estate Planning 101” San Diego Area Alumni Chapter June 12, 2011 Private Wine Tasting and Tour at Orfila Vineyards & Winery August 21, 2011 Botanic Garden Tour San Francisco Area Alumni Chapter August 25, 2011 Networking Event in San Jose August 31, 2011 Networking Event in San Francisco

Left Photo: Tom Schroeder (L) receives the 2011 BGS Outstanding Alumni Chapter Member award from Jeffri Epps, president of the Atlanta Area Alumni Chapter.

Seattle Area Alumni Chapter August 30, 2011 Speaker Series, Kevin Wilhelm, CEO of Sustainable Business Consulting, “Sustainability, Entrepreneurship, and the future of the ‘Green Movement’”

Right Photo: Dean Ellen Harshman (L), BGS Board of Governors, presents Jesus Rodriguez, president of the South Florida Area Alumni Chapter, with the 2011 Alumni Chapter Award for Best Program or Activity.

September 25, 2011 Informal Hiking on the PrestonSnoqualmie trail

Switzerland Alumni Chapter June 16 & 22, 2011 Second Anniversary Event in Zurich Networking Event Washington, DC Area Alumni Chapter September 21, 2011 Poornima Rai, Chief, United States Peace Corps, “In-depth Look at how Large Organizations Like the Peace Corps Manage IT across Global Operations” October 12, 2011 Networking Social October 19, 2011 Joaquin Gamboa, Partner in Levine, Blaszak, Block & Boothby, “Anatomy of Cloud Computing Deals”

bgs international exchange Fall 2011 www.betagammasigma.org 25

Profiling the Best in Business

T

Harlan Steinbaum - BGS 1954, Tulane University

ake a moment and think back on all the decisions you have made today. Some are small ones – what to eat for breakfast; which route to take to work; which evening news to watch. Others are more important – selecting the right candidate for a new hire; responding to a critical marketing issue; choosing to read this magazine.

Now take another moment and think back even further.

Think beyond this day, this week, this month and even this year. Think back over the course of your career – over the course of your life. Was there one particular instance that stands out over the rest? Think about how that one moment, that one choice, from that point forth altered your path.

That one moment exists in each of us. And it is that one moment that inspired Harlan Steinbaum to put pen to paper to write his first book, “Tough Calls from the Corner Office – Top Business Leaders Reveal Their Career Defining Moments.”

Through the book, Steinbaum provides access to a variety of business leaders and executives, creating an avenue for each of these leaders to recall their own defining moments.

Participants in the book include, but are by no means limited to: Sanford M. McDonnell of McDonnell Douglas (now Boeing), Benjamin Edwards of A.G. Edwards, Gen. John Handy of the U.S. Transportation Command, Tadataka Yamada from the Bill and Melinda Gates Foundation, Reginald Brack of Time, Inc. and Monty Hall from Let’s Make a Deal.

“I felt these were really interesting stories that should be told,” explained Steinbaum. “These are stories for anybody who likes good stories that are interesting, uplifting and compelling.”

Steinbaum confesses that he’s no professional writer. In fact, he never considered writing until leaving the business world.

“I never thought about it. I was always interested in running my business and trying to do the very best job that I could,” he said. “I never even thought about writing a book until after I retired and started to think back on all the decisions I had made.“ Long before his career as an author, Steinbaum was the president and CEO of Medicare-Glaser Corporation, a familyowned chain of retail drug stores. Under his leadership, the company expanded into new territories and pioneered many concepts that have since become standard practice in the pharmaceutical industry.

“We tried to find some ways and means to provide our customers with medication at a much more affordable price. We were the first people, to my knowledge, to buy pharmaceuticals at large quantities and break them down into small quantities,” Steinbaum explained. “If we bought a drum of 10,000 of something we could break it down into hundreds; we could sell them at the stores at a lower cost.”

Another key innovation that Steinbaum helped pioneer was the first chemical interaction database.

“It allowed our pharmacists to know if one or more of the drugs a customer was taking could interact adversely and be harmful to them,” he said. “If that was found to be the case, the pharmacist could call the customer’s doctor, and the doctor could prescribe a medication that wouldn’t react adversely.”

It was in this role that Steinbaum experienced his own defining moment.

“We were a family business that was growing rapidly. We were looking for ways and means to grow our company. We determined that we had to raise additional capital. One way was to go public, another was to be acquired. While this process was taking place we were approached by Pet, Inc. They made us an offer to acquire our company and we were enthralled,” Steinbaum recalled.

“It would provide us with the means to grow and compete even with the largest drug store chains in the country. So we made the deal and shortly after I became the group president of Pet. I had the responsibility of six of their 17 operating divisions.

From that vantage point I really had the opportunity to view Pet management up close. I found that they were extremely risk adverse. They were good people, but they deliberated about deliberating.”

“My partners and I felt that we could reacquire our company and complete our growth plans even without Pet’s resources. That then became my defining moment. After a very tough negotiation, we were able to buy our company back. We grew our company in an orderly and productive way and were able to transform the industry.”

Under his leadership, Medicare-Glaser continued to innovate and grow. One key innovation was the launch of a mail order prescription service that would become Express Scripts.

Steinbaum became the first chairman of Express Scripts, which would grow into a Fortune 500 company.

“I’m not a professional writer. I’m a businessman who decided to write a book. When I sat down with these business leaders I really had a lot in common with them. I could identify with them. I think they opened up to me in a way that they might not have if I were a professional writer who was just interviewing them.

Harlan Steinbaum Author, “Tough Calls from the Corner Office – Top Business Leaders Reveal Their Career Defining Moments”

26 bgs international exchange Fall 2011 www.betagammasigma.org

Medicare-Glaser was sold in 1989 and Steinbaum ran Express Scripts for a stint before retiring from business.

It was while enjoying his retirement that the inspiration for “Tough Calls,” came to him.

“I was on a motor trip with my wife Jo Ann, and I started to think of all the decisions I made as a CEO,” recalled Steinbaum. “There were literally thousands of those decisions, but there was one that stood out above all the rest. I call that my defining moment. As I discussed this with my wife, I realized that I wanted to talk with other CEOs to see if they possibly had defining moments of their own that were interesting stories and compelling experiences. She encouraged me to write a book.”

To accomplish that goal, Steinbaum decided to talk to as many CEOs as possible.

“Some of them I knew, others were recommended to me.

I found that their stories were fascinating. I came away with a treasure trove of information, advice and wisdom,” he said.

“These are not theoretical stories or classroom stories.

These are lessons learned, the hard way, by the executives who went through them. They really depicted some crises situations that these people found themselves in, and they had to find ways and means to solve these problems in order for their businesses to succeed.”

As a former business leader himself, Steinbaum was able to relate to the subjects he interviewed – an asset that he sees as a huge advantage in writing “Tough Calls.”

“I’m not a professional writer. I’m a businessman who decided to write a book. When I sat down with these business leaders I really had a lot in common with them. I could identify with them,” he said. “I think they opened up to me in a way that they might not have if I were a professional writer who was just interviewing them. We had a lot in common.

“As we would do an interview, I would talk about something that happened to me, and they would talk about something that happened to them. And we would wind down

these various paths together. It was very interesting. So many of the things they had to overcome I was confronted with. So many of the things I would mention they were confronted with.

It led us to discuss things that went way beyond the interview.

“It’s interesting.

Nothing that any of these CEOs said surprised me, but I learned from every single one of them,” said Steinbaum. “Each and every story was interesting in and of itself. Each person had a ‘defining moment’ decision to make.

They all approached it in their own way.

Some sought advice from others. For some it was intuitive.

They all approached these issues differently. Some were successful, some were not.

Regardless, these moments were defining for them, and were still the most important decisions in their business careers.”

For more information about Harlan Steinbaum, or his book “Tough Calls from the Corner Office – Top Business Leaders Reveal Their Career Defining Moments” go to harlansteinbaum.com.

The BGS Store From our Business Professional items to t-shirts, sweatshirts, caps, certificate frames, lapel pins, coffee mugs and much, much more, the BGS Store has something for every member.

Show your pride in your BGS membership.

Wear and display official Beta Gamma Sigma apparel and merchandise.

www.bgsstore.org bgs international exchange Fall 2011 www.betagammasigma.org 27

Gifts from Friends Beta Gamma Sigma gratefully acknowledges the support of the following individuals, as well as the organizations listed on page one. Without this assistance, the Society would be unable to continue adding value to the lifetime membership.

Governors’ Council $5,000-$9,999 Saint Joseph’s University Erivan K. Haub School of Business

Chairman’s Board $2,000-$4,999 Jacksonville State University Carl W. Gooding James Madison University Robert D. Reid Marquette University Theodore C. Rogers University of Massachusetts Thomas E. Berube The University of North Carolina at Greensboro James K. Weeks Ohio Northern University James W. Fenton, Jr. University of Rhode Island James A. Viehland

Director’s Table $1,000-$1,999 University of Arkansas John M. Norwood Baruch College-The City University of New York William E. Oakley University at Buffalo, State University of New York Paul F. Eckel University of California, Irvine David H. Blake California State UniversitySan Bernardino Anh M. Nhieu Georgia Southern University Dan T. Cathy Indiana University Christopher T. Winkler Miami University Robert J. Kamerschen The University of Michigan John W. Madigan Michigan State University Bruce D. Bottomley Midwestern State University Kay R. Dillard New York University Graduate School of Business Robert Kaufman North Carolina A&T State University Bernard J. Milano Northern Michigan University Scott L. Holman Northwestern University Ernest C. Styberg University of Pennsylvania John C. Hanson University of Pittsburgh Donald R. Beall Purdue University Jerry S. Rawls The University of Texas at Arlington Daniel K.C. Wu Texas State University-San Marcos Denise T. Smart Valdosta State University Jerry J. Jennett Villanova University Debra A. Arvanites Western Carolina University James A. Valkenaar, Jr. Western Illinois University Vicki C. Klutts

President’s Cabinet $500-$999 The University of Alabama Marinda J.C. Wood The University of Arizona Robert A. Eckert James W. Grantman Case Western Reserve University Franklin T. Kudo The Claremont Graduate University John W. Bachmann DePaul University Tucker Tyler Drake University John Pappajohn Fordham University Bert W.M. Twaalfhoven John Carroll University Jack J. Kahl, Jr. McNeese State University Joe T. Miller, Sr. University of Miami Marlies R. Ledford-Kraemer Miami University Scott D. Schweinfurth University of Minnesota James B. Dagnon

University of MissouriColumbia Carl S. Quinn Missouri State University William H. Darr The University of North Carolina at Chapel Hill Paul H. Broyhill North Carolina A&T State University Bowman K. Burton John J. Fernandes Northwestern University Ronald N. Paul Paul R. Seegers Ohio University Albert J. Weatherhead III San Francisco State University Wesley R. Petit Southern Methodist University Cher E. Thomas Jacobs Stephen F. Austin State University Brian K. McAlpine The University of Texas at Dallas Patrick M. Murray Tulane University Lance B. Young Wayne State University Paul A. Glantz University of WisconsinMadison James F. Kress University of WisconsinOshkosh Lawrence C. Bittner

Dean’s Club $250-$499 The University of Akron Henry S. Belden The University of Arizona David P. McElvain Margaret J. Rice Arizona State University William Weise University of Arkansas Thomas F. McLarty Aston University Sir Adrian Cadbury University of Baltimore Barry A. Benz Baruch College-The City University of New York Murray H. Neidorf Beta Gamma Sigma Staff Timothy J. Weatherby Boston College Mary G. Desimone Henry K. Kelly Bennett S. Yee Boston University Harvey A. Creem Thomas A. Greenquist University at Buffalo, State University of New York Kenneth P. Ferris Case Western Reserve University Henry Ott-Hansen University of Cincinnati Hugh H. Hoffman Clark University Dawn Murphy Colorado State University Anne L. Binkley Columbia University Richard M. Cryan Barratt H. Jaruzelski Washington Sycip University of Connecticut Dolores J. Katzenberger University of Dayton Anthony J. Ballmann Drake University Anne E.D. Hilton Drexel University Kathleen M. Kiernan Duquesne University Steven R. Berlin James M. Zillian East Carolina University Kimberly J. Shores Allan K. Shores East Tennessee State University Allan D. Spritzer Emory University William L. Westbrook Fairleigh Dickinson University-Teaneck William C. Kulkens University of Florida Louis F. Morr Florida International University Joyce Elam

Fordham University Robert J. Cummins Philip M. Halpern Vincent R. Reinhart The George Washington University John M. Cibinic Georgia Southern University Albert J. Roesel Georgia State University Michael T. Borgia University of Hawaii at Manoa Arlene Cabalce Indiana University Shirley Spiegel Deutsch The University of Iowa Victor W. Wilson Kansas State University Robert C. Salem, Jr. Kent State University George E. Stevens University of Kentucky Richard L. Hooker Lehigh University Paul Caster Loyola Marymount University Gregory J. Martin University of Miami R. Chad Brenner Scott A. Voorhees Miami University Keith L. Bremer The University of Michigan Philip L. Smith Michigan State University Craig D. Brown Steven J. Frisbie Philip E. Lippincott University of Minnesota Thomas R. Sedlack Mississippi State University Fred O. Cornett, Jr. University of Missouri-St. Louis John E. Jacob Monmouth University Elizabeth E. Cotter Montana State University Jack Dinos University of NebraskaLincoln Elif N. Akcayli University of Nebraska at Omaha M. Gene Newport University of Nevada, Reno Richard A. Cable Robert A. Cashell, Sr. New York University Ruth E. Denk North Carolina A&T State University Quiester Craig The University of North Dakota Dennis J. Elbert University of North Texas Swathi Dhoopati Sandra Jacaman Northwestern University Charles R. Enever John R. Hannah University of Notre Dame Thomas S. Taylor Jeffrey W. Yingling The Ohio State University Norman S. Crystal The University of Oklahoma Homer H. Hulme Old Dominion University Andrea M. Kilmer Oregon State University Joan Austin Ken Austin University of Pennsylvania Stephen A. Bansak Robert C. Nevin Hugh J. Zimmer University of Richmond Robert S. Jepson, Jr. University of Rochester Ramachandra Bhagavatula St. John’s University Iris Altilio Saint Louis University Brian L. Brau St. Mary’s University Cynthia H. Munch Sam Houston State University Preston Johnson, Jr. University of San Diego Kathleen L.H. Green San Diego State University Monty Dickinson Debra A. Ernst University of San Francisco Linda M. Rigas Santa Clara University Robert J. Emmons

28 bgs international exchange Fall 2011 www.betagammasigma.org

Shippensburg University Marie R. McDonald University of South Florida Loretta S. Loftus Anonymous University of Southern California Doreen L. Gee Teena M. Hostovich Southern Illinois University Carbondale Roy A. Causey Southern Illinois University Edwardsville Deborah L. Johnston Syracuse University Walter W. Hemming Temple University Stephen H. Morris John W. Wilchek The University of Tennessee at Knoxville Kenneth W. Patton The University of Texas at Arlington Susan M. Williams The University of Texas at Austin Jason H. Downie Earl C. Huse The University of Texas at El Paso Woody L. Hunt Texas State University-San Marcos C. Patrick Oles, Jr. Vanderbilt University John F. Stein Virginia Polytechnic Institute and State University James A. Hixon Francis L. Leonard Washington University John P. Wareham West Virginia University E. Eugene Byrd, Jr. Thomas J. Krzys University of WisconsinMadison Thomas G. Ragatz Wright State University Scott A. Hewitt Xavier University Alexander Weber, Jr.

Century Club $100-$249 The University of Akron Michael J. Berthelot Willard R. Holland David Leshner The University of Alabama Thomas W. Armstrong Herbert A. Barr Jeffrey S. DeMond Ulysses V. Goodwyn Margaret E. Hudson George W. Jeter Barbara Dubis Merino Rance M. Sanders University of Alabama at Birmingham Jeffrey I. Stone University of Alaska Anchorage Donna M. Conrad University at Albany, State University of New York Edward J. Wehle The American University Francis D. Tuggle The University of Arizona Thomas J. Nichols Hugh Rose Gerald E. Snyder Arizona State University Heidi Choy Janet R. Getz David G. Polis University of Arkansas James L. Ashmore Gus Blass Richard M. Bushkuhl Gene Cogbill Robert R. Estes Walter P. Henry John W. Ingraham David R. James Jay Johnston David R. Malone Ward N. Marianos Donald F. McNiel Harry Shipley Bryan A. Speed Robert P. Taylor Albert G. Vasser Arkansas State University Graham J. O’Neal Auburn University at Montgomery Micheal Evans

Augusta State University Paul S. Simon Babson College Tirthankar Chatterjee Baruch College-The City University of New York Hal Helmut Beretz William Copulsky Wayne Danson Martin P. Davis Irwin Ettinger Lee A. Feldman Seymour Gartenberg Charlie C. Hwang Emilio F. Iodice William J. McCarron Edwin B. Morris Dr. and Mrs. Samuel G. Ryan, Jr. Jerome A. Seidman Abraham L. Seiman Saul H. Wadowski Joseph D. Weisberg Shing W. Wong Baylor University Tim D. Brewer Paula A. Clark Robert A. Fitz Bentley College David P. Demarco Omer D. Lizotte Matthew R. Wizeman Boise State University Pieter M. Ytsma Philip A. Bertolo Thomas F. Faherty Michael G. Faucher Mary Ann E. Hart James R. Kearnan Michael A. Petkewich Hector Reichard, Jr. Boston University Arthur C. Anton Simeon Chow Theodore R. Fick Robert C. Gorin Gregory E. Hudson Annabelle C. Kellogg Terryl G. King Gitta M. Kurlat Donald F. Morrison Alan J. Rosenblum Richard A. Scheid Charles Siegel Bowling Green State University Richard L. Foran Michael W. Hoffman Gloria A. Lefevre University at Buffalo, State University of New York Calvin J. Haller Richard A. Shick George H. St. George Kenneth I. Tuchman University of California, Irvine James F. Elliott Lyman W. Porter California State University, Bakersfield Frank L. Blystone David F. Glossbrenner Donna J. Goins California State University, Chico William A. Spooner California State University, Fresno Susan D. Derpinghaus Eric G. Juline California State University, Fullerton Andrea M. Evans Cecile L. McKee California State University, Long Beach Smita Y. Katbamna Beate M. Morrow Susan V. Parsons James A. Pearson Robert L. Pitts Richard A. Sundell Susan L. Volmer Russell E. Walker California State University, Los Angeles Beverly A. Hood Gerald A. Minter California State University, Northridge Jo Ann Costa Christopher J. Curry William R. Hollinger California State University, Sacramento David W. Moen Canisius College Reginald B. Newman Nicholas F. Urbanski Jeffrey G. Wagner

GENEROUS DONORS SUPPORTING BETA GAMMA SIGMA October 1, 2010 through September 30, 2011 Case Western Reserve University Howard A. Glassroth Monsogo Moukwa University of Central Florida Jacqueline E. Keith College of Charleston Anita Zucker University of Chicago John T. Baily Thomas G. Baker Edward J. Cheskis Catherine A. Daniels Richard J. Weiland Kuno A. Wyler Christopher Newport University Margaret A. Bevelacqua University of Cincinnati Robert E. Dobbs Clarion University of Pennsylvania Dalph S. McNeil Clark Atlanta University Hubert D. Glover Clarkson University Mark J. Stevens Clayton State University Victoria L. Williams Clemson University John P. Harman Ronnie L. Jowers Marvin J. Pinson, Jr. Cleveland State University Marilyn L. Hatfield Cleveland State University Linda H. Rogalski University of Colorado at Boulder Makoto Fletcher Robert S. Graham Jeffrey D. Lovell Thomas C. Nelson Kenneth J. Stark Pamela J. Timmerman University of Colorado at Colorado Springs Eileen S. Burnley Monica E. Tucker University of Colorado at Denver Joanne R. Casper Colorado State University Richard L. Robinson Steven J. Vander Wal Dennis W. Wagner Columbia University Jennifer N. Bater Steven N. Brody Oscar B. Garfein Mark W. Grayson Cyril H. Hermele Earle W. Kazis Richard T. Lebuhn John E. Meyer Richard T. Morena Paul P. Morimanno John T. Quinn Robert J. Ruben Diana M. Sattelberger H. Ronald Weissman University of Connecticut Robert C. Burrill Lindley M. Franklin Michael Friedman John R. Harvey Edward J. Majkowski Gregory K. Phelps H. Douglas Porter George G. Roller Carl S. Smith Wayne Spooner Creighton University Bryan K. Brown University of Dayton Terry D. Carder University of Delaware Larry D. Fitzwater University of Denver Mark H. Alldredge Lowell A. Hare John S. McCatharn Marcia C. Newhart DePaul University David Bouvier Jerome F. Catalo Thomas E. Deming Howard S. Goss Ellen Miller James T. Schaefer University of Detroit Mercy Kathleen Dul Aznavorian Mark R. Carver Lynn Ellyn Jaime F. Encinas Frederick Z. Herr Jacob Rehmann Patricia A. Tourney Francis Westmeyer Drake University Richard M. Grier Bruce G. Kelley Daniel B. Peterson Daniel E. Prall Steven J. Roy

East Carolina University August F. Malson Frances B. Phillips William H. Powell Joseph M. Tomkiewicz Eastern Illinois University Greg Bonnell Eastern Michigan University Lisa J. McGrath Eastern Washington University Clifford D. Davis Emory University Katherine Buckman Gibson James E. Herring Solon P. Patterson Homer E. Smith Fairfield University Thomas J. Tinghitella University of Florida John C. Appel Robert C. Norris John J. Slaboch John C. Sollee Florida Atlantic University Carlene R. Walker The Florida State University Mark R. Arrigo Lowrie W. Brown Kee Juen Eng James S. Howell, Jr. John A. Lemine David C. Williams Fordham University Doris R.F. Duignan Ford J. Levy Diane Turner Francis Marion University Frank H. Avent George Mason University Carol Shapiro The George Washington University Jillian Campbell Edward F. Dube Mary M. Lewis Allan I. Nappen Philip D. Reiff Ibou Thior Georgetown University Robert J. Almerini Gregg J. Felton The University of Georgia Billy B. Beazley Johnnie L. Clark John J. Ossick Georgia Southern University Chenzira Q. Bohannon Mary Frances Hazeldine Lewis M. Stewart Georgia State University Jay A. Bernath Janet R. Cordano Dale N. Davis Carol Hunter Jenkins Larry F. Miller Richard S. Novack Louise Osborne Gary B. Roberts Rita C. Scoggins Suzanne M. Sideris Ann E. Sutton David Zell University of Hawaii at Manoa Hammond S.K. Hu Wallace Sung Tim Kam Roger A. Peterson Barry Taniguchi The Hong Kong University of Science and Technology Tak Lok Cheng University of Houston Dan Jolly Paul S. Lindholm Anne Thatcher Parrish Kenneth Y. Rosenzweig Virginia K. Simons Kathy J. Welch Howard University Docia Hemphill Randolph University of Illinois John H. Barnes Clifford R. Buys Ronald J. Domanico Michael E. Fox Thomas W. Hough Thomas B. Sleeman Henry D. Strunk John M. Tucker University of Illinois at Chicago Mary Smoley Blust Anne Marie Drougas Sabrina A. Thorne

Indiana University Theophilus B. A. Addo Stephen A. Bodzin Mary E. Bonhomme Rhett W. Burgess Terri L. Clark Clarence H. Doninger Thomas L. Dusthimer William D. Fischer Ray H. Garrison John D. Grant E. Jan Hartmann Jolaine L. Hill Thomas S. Hoelle Douglas A. Jentilet James A. Kayler James M. Krueger Blair W. MacDermid Gail E. Mullin Robert G. Nettles David B. Pearson Michael Pierce Allen E. Rosenberg Thomas F. Veldman Indiana State University James M. Gutting Iona College Devlin L. Lansburg The University of Iowa Jeffrey B. Warner Margaret Macomber Wendt IQS- Institut Químic de Sarrià María José Esteban Ferrer James Madison University Joyce Woodson Guthrie John Carroll University Kerry L. Kipfstuhl University of Kansas Janet L. Buttery Edward J. & Helen B. Healy Phyllis Wales Kansas State University Patrick R. Robinson Kent State University Dallas P. Lutz Robert A. Slater Kenneth E. Wertz University of Kentucky Allison A. Willoughby King’s College David G. Martin La Salle University William J. Andreoni Susan C. Borkowski Todd J. Warner Lehigh University Joan B. Cole Sandra Goldfarb Aimee P. Jalazo Michael E. Kroboth Philip R. Peller University of Louisiana at Monroe Sam Davidson Saul A. Mintz Louisiana State University James E. Taussig Louisiana Tech University Bruce W. Berry Loyola University Chicago Deborah J. Bowen Nelia D. Castillo Vivian Guang-ying Chiu Maria Tabrizi Lisa C. Williams Loyola University New Orleans Brandt J. Dufrene, Jr. Loyola Marymount University Anita G. Aguilar John Paul Lambert Loyola College in Maryland Michael B. Adams Ronald R. Howell University of Maine John I. Simpson Marquette University Steven J. Borkenhagen Keith O. Hanson David J. Hushek Mark W. Loper Paul M. Neylon Richard A. Romano Robert A. Schneider Lois A. Smith University of Maryland Robert H. Carmack Morton H. Offit Richard L. Vogel, Jr. University of Massachusetts John B. Bayley Paul D. Bodin Patricia A. Van Blarcom The University of Memphis Christopher W. Bear Thomas M. Parzinger University of Miami Arthur H. Hertz Monika Nerger Jorge P. Sala The University of Michigan Arthur P. Bartholomew, Jr. John P. Byrne Norma G. Heller John C. Morley Gail Ayn L. Richmond Richard C. Slayton Richard C. Viinikainen

Michigan State University Richard W. Bergson Dennis W. Duquette John S. Flintosh Edward E. Hagenlocker Douglas M. Klein Richard J. Lewis Alexander C. McKeen James T. Morton Ronald J. Patten Andrew G. Sall Terrence A. Tollefson Midwestern State University Carol C. Gunn University of Minnesota Charles H. Clay William E. Berry Gary W. Patterson Lee W. Randall Mississippi State University Nancy L. Anderson Ronnie G. Michaels Ronald D. Niemeyer University of MissouriColumbia William L. Howard Howard G. Sholl, Jr. University of MissouriKansas City Joan L. Hartung Richard S. Loraine University of Missouri-St. Louis Jennifer R. Cole Kenneth M. Mensio Missouri State University John E. Wanamaker Monmouth University David Wong Montana State University Jack Ostrovsky Molly F. Lee Frank X. Nelson University of NebraskaLincoln Walter Figel Alice L. Franks David N. McCammon Aloysius P. Rieman University of Nebraska at Omaha Patricia L. Davis University of Nevada, Reno Gene R. Sheldon The University of New Mexico Kimberly S. Hallatt New Mexico State University Michael J. Lagana University of New Orleans Thomas R. Mataconis David J. Mumfrey Charles E. Price Ann E. Vockroth New York University Joseph E. Adiletta Gregory J. Altman Mario P. Borini Leonard A. Brams Marvin A. Cooper John J. Creedon Paul Farber Stuart S. Flamberg Alan P. Gallo William A. Heineman Robert C. Larose Gerald A. Leboff Lester A. Leight David M. Levine Leroy S. Lowenfeld Willis W. Martin Joseph P. Martori Sanford J. Moster Richard C. Nerod Richard J. Obetz David K. Owens Herbert A. Posner New York University Graduate School of Business Virginia Carson Ashcraft Everitt Calvin R. Carver, Jr. Anne Manbeck Chamberlain Daniel E. Davies Matthew T. Feldman Susan C. Fink Donald E. Foley Geoffrey M. Parkinson, Jr. Julia A. Peloso Martyn R. Redgrave Elizabeth Ann M. Sherman Nicholls State University Marguerite Knight-Erwin Norfolk State University Santosh K. Choudhury The University of North Carolina at Chapel Hill Lacy G. Baynes Rajib Ghosh Lisa J.S. Hendel William K. Rollins The University of North Carolina at Greensboro Gloria Leebrick Keesee Charlotte Roberts North Carolina A&T State University Barbara Jean FulmoreSingleton The University of North Dakota Lyle C. Kasprick

North Dakota State University Randolph E. Christianson University of North Florida Robert A. Humphrey Alvin L. Sack Michele A. Stanley University of North Texas Stephen K. Brewer Hugh D. Erskine Gary M. Shultz Patricia S. White Northeastern University Richard C. Cloran James M. Fowler Gary H. Stein Northern Arizona University Douglas P. Busch James O. Carnes Daniel F. Stortz Northern Illinois University Denis M. Desmond Michael E. Marciniak Harman J. Ziev Northwestern University Rudolf Carl Rudolph E. Farber Kurt L. Janavitz Lawrence R. Kosinski Jerome Lamet Edward C. Messinger Gordon G. Rockafellow John S. Thode University of Notre Dame Charles B. Ammann Dennis C. McInerney Leo V. Ryan Jeffrey H. Weir Oakland University C.S. Bud Kulesza The Ohio State University Stephen J. Hopkins Bonnie L. Kaser Steven M. Katko Charles J. Lano Marilyn Myers William B. Patrick Press C. Southworth The University of Oklahoma Nancy L. Gray Cheek Robert W. Lewis Lucille Ann Poniatowski Sandy Harland Singleton Cynthia Bingman Smith Elizabeth K. Willard University of Oregon James C. Lynch Greg L. Mettler Kevin W. O’Neill University of Pennsylvania William R. Asher Michael S. Blechman Peter C. Brockett Ian M. Comisky Anthony J. Deleon Dwight R. Fearins Albert Greenbaum Edward R. Koch Thomas L. Markl Lawrence J. Marks Kathleen A. Walters Frederick D. Watkins S. Robert Winstanley The Pennsylvania State University Chih-yang Chiu Mark G. Elter John T. Fogarty James B. Miller Jack W. Sharer Alan F. Woolslare The Pennsylvania State University at Erie, The Behrend College Albert L. Maxson The Pennsylvania State University Great Valley Grete B. Greenacre Tai-Seng Yeoh Pepperdine University Thomas Dudley University of Pittsburgh John R. Davies Edward C. Jesteadt Jens T. Jung John C. Lauchnor James A. Maochi Donald H. Peters Richard S. Pizzedaz Joanne M. Shore University of Portland Robert B. Pamplin Purdue University Sigmund L. Cornelius Kenneth J. Wilson University of Rhode Island Louise A.H. Bookman Ann M. Vessella University of Richmond Hector Alonso John D. Robbins Franklin C. Tiller Robert S. Ukrop Robert Morris University Kristina A. Fausti Rande Somma University of Rochester Stefan Heinrich Enno Bodenstab Karen E. Jaskolka Gary P. Johnson Paul R. Ratoff Nicholas D. Trbovich Bruce H. Watkins

Rochester Institute of Technology Herbert W. Jarvis Rollins College David M. Currie Rowan University Anthony J. Galvin Rutgers-The State University of New Jersey Camden John Marino-Deabler Rutgers-State University of New Jersey Newark Michael T. Bucci Gary F. Dornbush Frederick D. Vanduyne Sandra L. Wepprecht St. John’s University Anthony M. Deluise James F. Giordano Margaret M. Healy Theresa Spreizer Kontogianis Mary E. Lynch Deborah M. McDermott Lorenzo T. Vanore, CPA Saint Louis University Ellen Harshman Sam Houston State University Charles E. Amato San Diego State University George G. Callaway Victoria E.J. Condos George T. Hornby Katherine R. Janes Carla M. Kuhns Charles M. Medvitz Barry J. Shillito University of San Francisco George W. Parkerson Louise Chee Ping Wong San Francisco State University Catherine A. Sousa Kenneth Zee San Jose State University Dave L. Coles Roxanne V. Harbor Santa Clara University David W. Gervais Anthony J. McKeon Mary D. Niemiller Mugdha Pendse Seattle University Bruce E. Eliasen Terrence C. Kabanuck Seton Hall University James Malgieri Sonoma State University Wallace M. Lowry University of South Alabama Sheryl Breaux Daniel University of South Carolina Elmer F. Frick James S. Harrison, Jr. Ruth A. Moyer Harold P. Pruitt A. Eugene Rountree University of South Dakota Charles A. Jacob Kenneth Kurz University of South Florida Joanne M. Freeman Lois A. Sorensen Jane K. Whitney University of Southern California Arnold G. Anisgarten Robert S. Brezovec Lance D. Crain Steven D. Crowe Jay H. Grodin Kenneth D. Hill Terrence O. Hughes James Muller John S. Patton Shuhui Peng Richard Phegley Jason White William R. Woodward

Southern Methodist University Ashley Arendale Jonathan E. Bennett Robert W. Calloway Robert E. Henderson Christopher C. Loy Stephen A. Titcomb University of Southern Mississippi Cecilia C. Hickman Stephen F. Austin State University Cadence R. Morris Shannon E. Dunbar Oliver Gerald W. Schlief Christopher Simard Craig G. Townsend S. Ann Wilson Suffolk University Susan O. Olivier Syracuse University Gustav J. Braun Michael A. Dritz Richard A. Frank, Jr. Charles E. Kunkel Frederick H. Weeks The University of Tampa Craig C. Lewis Temple University Daniel R. Bradford Daniel R. Burkus Eric A. Girardi Arnold Glaberson George Goldstone Ronald S. Gross Gary Mozenter Simon P. & Barabara Shore Pines Kathleen Tregear The University of Tennessee at Knoxville R. Gale Manley Barry P. Sebralla The University of Texas at Arlington Mark C. Hensel, Jr. The University of Texas at Austin Orville A. Armstrong Donald R. Broadland Donald G. Calhoun Donelson M. Houseman Vicki G. Keiser Owen R. Messenger Carol A. Shepherd The University of Texas at San Antonio Deborah A. Pool The University of Texas at Tyler Billy G. Hartley Joseph Z. Ornelas Jack L. Phillips Texas A&M University Randall C. Present David J. Watlington Texas Christian University Forrest H. Goodall Texas Tech University Coburn A. Buxton Patrick J. Killman University of Toledo Robert E. Hansen William S. Keesor Borge R. Reimer University of Tulsa Jackie D. Loertcher Nancy B. Quigg-Young University of Utah Terry R. Collins Francis A. Madsen, Jr. John G. Pickard Villanova University Abigail Butkus Richard P. Caporaso Jeffrey P. Evans Harry R. Halloran, Jr.

University of Virginia Stephen C. Adams Robert P. Black Gregory F. Hagood Brian S. Roberts Anne L. Stone W. Frederick Thompson Thomas H. Wilson Virginia Commonwealth University Vernon A. Querstein Virginia Polytechnic Institute and State University Hermann Buerger Michael J. Gronsky Lee P. Martin Edward M. Mazze John G. Rocovich, Jr. Muzzo Uysal John E. Wilson Washington University John F. Danahy B.C. Downs Sam Fox Diane E. Harrison Jill Ackerman Jones Howard E. Lovely Robert E. Markland John H. Renth Rowland Ricketts, Jr. Henry L. Seifert Joe E. Strawn, Jr. University of Washington Philip R. Bogue Donald W. Gonzales Washington and Lee University Reid T. Campbell Robert C. Gammon Julian B. Mohr Robert W. Moorhead Glenn O. Thornhill, Jr. Washington State University Elizabeth H. Jones Wayne State University Debra L. Bernstein James C. Fyffe John A. McFeely Eugene R. Morabito The University of West Florida Stephen J. Basel University of West Georgia J. Mark Miller West Virginia University George G. Bauernfeind Peter F. Bogart Richard M. Gardner Patrick C. Mann Western Kentucky University Doug Polk Jeffrey S. Fecko Sylvia A. Smith Quenten T. Wilber Western Washington University Wenderly J. Porterfield Wichita State University Melvin L. Bird Harold R. Martin Douglas L. Yoder College of William & Mary Rosemary Leach Spell Hays T. Watkins Winthrop University Brian D. Seymour

University of WisconsinMadison James Fetek David Geraldson Daniel L. Goelzer James Schommer University of WisconsinMilwaukee Robert J. Abramowski Lea E. O’Day University of WisconsinOshkosh Daniel A. Bollom Larry R. Koeppen University of WisconsinWhitewater James A. Karpowicz Wright State University Frank James University of Wyoming Randall W. Ludden Margaret H. Williamson Matching Contributions Aeatna Jospeh T. Doyle AIG GraceAnn LaForgia Amgen Foundation Woflgang Goetzinger Assurant Health Foundation Kurt Janavitz AXA Foundation Jay Johnston Bank of America Beverly Bodine Michael Lamb Chevron Humankind Kenneth Zee Clarkston Consulting Marie McDonald Coach Anthony Galvin Conoco Phillips Sandy Singleton GE Foundation David Bottles Deborah Wight James Nuttall Laura Salma Walter Peters Houghton Mifflin Diane McGinn Intuit Foundation William B. Hollis JP Morgan Chase Foundation Brennan Clark David Maslekoff Iris Altilio Macy’s Foundation Dorothy Moran Microsoft Karen Jaskola Monsanto Fund James Morrell PCS Administration (USA) Inc. R. Luzwick Pfizer Foundation Denise Wakim Thomas Thurber Wells Fargo Sophia Prountzos

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Beta Gamma Sigma congratulates its 2011 Scholarship Recipients For a list of recipients, go to: betagammasigma.org/scholarshiprecipients11.html