FALL 2010
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what’s inside
BGS Corporate Contributors and Affiliates 2010
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A Message from the BGS President
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BGS Survey: What Student Members Think About the Current Economic Situation
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EBL in Action: Timothy P. Flynn, Chairman, KPMG International
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The Business Side of Sports
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A Message from the BGS President
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hen an organization starts a new project there is a period of planning and adjustment; basically an opportunity for everyone to get on board, buy in to the upcoming effort, and wrap their minds around the task at hand. Thankfully the Society’s leadership the past several years has laid a solid foundation and provided a tremendous starting point for us to now build. With the tasks and opportunities facing the Beta Gamma Sigma Board of Governors in 2010-12, it’s now time to do the work and get some significant things done for the future benefit of our lifetime members. I hope you’re ready to come along with us and join the effort. As the new president of the BGS Board, I would like to introduce myself and let you know that my fellow Board members and I are working for you. The lifetime members of Beta Gamma Sigma have always been our focus, but over the next two years we hope to enlist your support and involve you in Society business like never before. I believe my BGS membership compels me to assist my fellow members, work for the advancement of the Society, and strengthen the profession of business both within the United States and around the globe. Lofty goals, no doubt, but it’s important to stretch our collective thinking and expect unprecedented achievement at this critical moment in Beta Gamma Sigma’s history. My partners on the BGS Board include some incredibly talented and committed individuals. Those continuing their service from the last biennium – including George Stevens, our immediate past president – provide the expertise and institutional memory that will serve us well as we consider the details of our future. On the other hand, those joining the Board this year were recruited because of their energy, enthusiasm, expertise and willingness to hit the ground running as we get to work. I’d like to welcome and introduce those new members here: • Joyce J. Elam, Executive Dean of the College of Business Administration, Florida International University • Dennis J. Elbert, Dean of the College of Business and Public Administration, The University of North Dakota • Linda Livingstone, Dean of the Graziadio School of Business and Management, Pepperdine University • Brenda D. Lovell, Senior Vice President, Chief Education Officer, AACSB International • Barbara Sainty, Associate Professor, Brock University I would be remiss if I didn’t mention some great people, whose Board terms expired this year, including John Wholihan, David Blake, Micheal Kelly, Terry Maness, Willie Deese and Beck Taylor. I am confident these individuals will continue to serve your honor society in a variety of ways, but their leadership has been invaluable. I personally cannot thank them enough for their friendship and counsel over the years, and they deserve the sincere thanks of all lifetime members for the
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important work they have done for the Society. Now, you may be asking yourself, “What is the ‘critical moment in Beta Gamma Sigma’s history?’ that I mentioned above. In 2013 we will be celebrating the Society’s 100th anniversary, and in reality the celebration will begin in 2012 and continue into 2014. Significant anniversaries are great opportunities to look at past achievement, of course – and with 100 years and more than 650,000 members, we can all look back with pride. But the more important question is, “Where can we go from here?” The last Board, along with several nonBoard committees and focus groups, has been working on that question and considering next steps. A great deal of planning has already taken place, but we’re asking members to consider becoming more active partners throughout this process. Webster’s Online Dictionary defines the word “partner” as, “An associate in an activity or endeavor or sphere of common influence.” I challenge you to become a more closely aligned partner with Beta Gamma Sigma. I challenge you to get involved as we move toward our centennial celebration. That may mean you volunteer to assist with an activity we plan in your area; help the alumni chapter in your area reach more lifetime members; suggest to your employer that it considers hiring BGS members when there are critical openings; doing your part in a variety of large and small ways. I hope that you will want to be more active over the next few years and that develops into a more meaningful connection between you and the Society when the centennial celebration is over. In 2006, then-president John Wholihan issued a challenge to all BGS lifetime members: wear your BGS pin at professional and social functions (and if you don’t have one anymore, purchase one from the BGS Store and wear it), and prepare to answer the question, “What is that?” To go a step farther, I would suggest that as a lifetime member it is your duty and privilege to highlight your membership and what the organization means to you. It is one of the things I most enjoy about my close association with BGS – I get to discuss excellence and the role it plays in our honor society. My sincere hope is that every member can develop a stronger partnership between hisor herself and Beta Gamma Sigma. I couldn’t be more excited about the future of our Society. How are you going to become a closer partner of Beta Gamma Sigma as we head toward its second century? Now is the time to think, plan and act, and I look forward to your active participation.
Robert D. Reid James Madison University President of Beta Gamma Sigma
What Student Members Think About the Current Economic Situation
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By: Natalie Graf, BGS 2010, Truman State University
his past summer, Beta Gamma Sigma conducted a series addition, about 25 percent said that they or a family member of surveys geared specifically toward the Society’ newest have lost their job due to the crisis. A notable one-fifth (22 members. The third and final portion of the survey percent), in contrast, actually indicated that “no considerable examined individual reactions to the current financial crisis changes” have occurred to them or their family members. as well as its effect on personal well-being. Given the present Over one-quarter (26 percent) of the focus group members financial crisis and the coverage it has received in the media, as hold a full-time job, and more than half (52 percent) hold partwell as compounding concerns time jobs. Of the students with about the job market, BGS no job at all, 48 percent are thought it worthwhile to fairly to extremely concerned develop a survey addressing that they will not be able to these issues. get a job as a result of the Participants were crisis. Along those lines, Not Concerned Barely Concerned Somewhat Concerned asked their three greatest 45 percent of respondents Fairly Concerned Extremely Concerned concerns in the geographic believed there is some sort area they currently reside. of negative bias against job Unemployment and jobs led candidates who are currently the way with 76 percent of members unemployed. mentioning them, while the economy Two-thirds of students believe was right behind with 72 percent. Other this is a bad time to find a quality job. significant concerns garnering attention Participants were asked on a scale from BGS members included education of one to five, ranging from not to at 39 percent and healthcare at 28 extremely, how concerned they were percent. that they would be able to get a job in According to the survey, 78 the next year due to the economy. Of percent of students believed their those who answered, 77 percent fell in country is currently experiencing a the three to five range from somewhat recession. Furthermore, 77 percent of concerned all the way to extremely respondents believed that their country concerned. Only 9 percent said they will experience a double-dip recession. weren’t concerned. Some believe their country is already in a Students cited many insightful reasons double-dip recession; others justified their to support their answers, commenting on both position by citing over-inflation, increasing job the labor market and the hiring environment. losses, and government legislation. Of those who One student wrote: “Prospective employees have believe that their country might experience a no bargaining power due to the labor market double-dip recession, 73 percent also expect the being saturated.” Another said “it is difficult for economy in 2011 to stay the same or decline – nearly 25 percent people who are currently unemployed because they do not want more than the general response. to take a job they feel over-qualified for.” Individual hardships were often cited as ways that To request a copy of the survey results in their individuals know there is a continuing crisis. For 43 percent, entirety, please contact Beta Gamma Sigma at “limited possibilities for additional earnings” has touched exchange@betagammasigma.org. either the student or a member of his/her immediate family. In
“What’s the job situation like today? The economy is like a piñata. Picture this piñata at your little cousin’s birthday party, with 30 of his little friends beating it with a baseball bat. There are no indicators pointing to a significant economic recovery, but the piñata is still hanging up there and no one knows if these little 5-year-olds can break it (lets hope it stays intact). All we’ve had are mixed signals this summer.” Comment from survey participant
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As part of Beta Gamma Sigma’s Ethical Business Leadership initiative, the Society is seeking to spark a global discussion about this issue and its importance to the business community. To that end, members of the BGS Board of Governors have been meeting with corporate executives to discuss this important topic, and to learn what these companies and business leaders are currently doing to ensure ethics is a core part of their business. David H. Blake, Chairman of the Beta Gamma Sigma Center for Ethical Business Leadership, had the opportunity to sit down with Timothy P. Flynn, chairman, KPMG International to learn more about KPMG’s approach to Ethical Business Leadership. The following are excerpts from that discussion. David H. Blake: As a leader of a worldwide accounting firm, you really have sort of a bird’s eye view of many types of businesses all over the country and indeed the world. I would be interested to learn from you what you think it is that leads some companies to be effective in ensuring that ethical business practice is part of what they do. Timothy P. Flynn: What I believe is most important is engaging the entire organization…Everybody has responsibilities to be part of the ethical fabric of the organization, and to live its values. If you can create that sense of urgency, that sense of responsibility across the entire organization, that’s a great start. DHB: As the worldwide chairman, you’re the most visible person in the entire firm, or network of firms as it may be. What do you see as something that you have to do in order to make sure that this is understood and accepted and followed from the top all the way down to the bottom?
DHB: Sometimes things just don’t seem to go right. From your perspective, what has led to some companies having some problems with this kind of thing? TPF: You know, that’s a tough question, and I can’t foresee all the reasons why some companies might have strayed and some have not. I think it comes back to, “Do people understand why they’re in the role they’re in, what the organization stands for, and what their role is?” I tell our people that there are three things that I think have gotten people in trouble.
TPF: As a leader, you clearly set the tone. You create an environment where everybody works, and you really set the definition of what’s acceptable and not acceptable behavior. Now there’s many ways you can demonstrate that. One is your own behavior, your own actions how you work, and clearly that’s critically important. You are under a microscope and everybody sees you, and watches. It has to be genuine. It has to reflect the person that you are because people can see through it if it’s not.
First of all its rationalization. They rationalize that I’m doing this for the benefit of the stockholders. I’m doing this for the benefit of my client. I’m just going to do this once. I won’t do it again. You rationalize this behavior, not for me, but some greater cause that I’m doing this – just to make this quarter one time, just get by this one issue, and then I’ll never do it again. I’ll save people’s jobs. We’ll be a stronger organization. All those rationalizations go through their minds.
That really creates the first leg of helping establish the culture. The other part is who you pick as your leaders alongside you. Do those leaders have the same shared values? They can have different perspectives, bring different points of view to the debate, which is extremely healthy, but do they share the same values? Do they live to advance in the organization, and do they bring that forward everyday in how they work, how they behave, how they interact with our people?
The second is implied permission. David knows I’m doing this. David’s my boss. David’s never told me to stop. David surely wouldn’t want to get me in trouble, so it must be okay. David must be giving me permission to do this, so I’m going to keep doing it.
DHB: KPMG has a number of very, very interesting and creative mechanisms to help evaluate people, but at the higher levels, you’re the guy that’s going to be making the decision ultimately. I would be interested in how you are able to choose between those that seem to carry forth and are really committed to those values as opposed to those that don’t meet your standards. TPF: I kind of have a simple test when I am making a decision. There are spectrums of things you look at when you make these decisions. My test is kind of, “If my mother read it in the Wall Street Journal tomorrow morning what would she think?” That’s not a bad question to ask yourself as you go through that final process. 4 bgs international exchange FALL 2010 www.betagammasigma.org
The third is fear. It’s not my job to raise my hand. I’m going to keep my head down and do my job. Somebody else can deal with David. I’m not going to deal with it. DHB: It seems to me that the implied permission and the rationalization is something that can be dispelled in a team concept. It is very hard to rationalize if you have four or five other people around you. It is very hard to assume implied permission. On the other hand fear is something that can’t necessarily be dismissed around the group because an individual feels fear. What is it that you’re able to do, or that the firm is able to do, to delay that fear of fear shall we say? TPF: I think you can go back and look at my firm. We had some problems in the early 2000s. We did some things in the organization on tax shelters that we shouldn’t have done. It shouldn’t have happened. We can’t change the fact that it happened. We’ve dealt with it. We’ve moved way beyond
“As a leader, you clearly set the tone. You create an environment where everybody works, and you really set the definition of what’s acceptable and not acceptable behavior.” Timothy P. Flynn Chairman, KPMG International that today. I think one of the things as I look back, there was some implied permission because a lot of people knew it was happening. There was some rationalization. I think most importantly people were afraid to speak up. They were afraid to raise their hand because when some tried, they got pushed down pretty hard. So from my standpoint, you have to create a culture and an environment where you tell people we want you to raise your hand. It is not something you should do, but you have an obligation to do it. So it’s not just something we want you to do, you have an obligation to raise your hand. We as an institution have an obligation to make sure when you raise your hand, we look at the information, we don’t pre-judge, we are respectful of the process, we are measuring how we deal with it, and we make sure you as an individual are rewarded for doing that and recognized, not pushed away and shunned. That’s what our challenge has been and that’s the environment we want to create. I have 130,000 people around the world, so I am positive I can’t stop everything from happening. Something bad is going to happen, but if those around it see it happen, raise their hand and bring it to light, we can stop it in its infancy. We will be much stronger, and it won’t grow into bigger things. That’s really what I want to create as a culture in this organization at KPMG. DHB: It sounds almost that a sense of obligation has become a part of everybody’s job description. TPF: Yes that’s a fair way to say it. We have created many avenues to raise that hand. You can go raise it to your performance leader. You can raise it to a mentor or a coach. You can raise it to a peer in the organization. You can raise it to a hotline. You can write me a letter. There are many ways you can raise your hand. Some will do it out in the open, some will do it anonymously. Then we as an institution have to take that, fairly understand it, don’t rush to judgment, and then deal with it. Don’t use the excuse, “I didn’t know how,” and don’t use the excuse, “It’s not my job,” because that doesn’t work throughout our organization. DHB: In terms of your bird’s eye view, things do go wrong. What do you think CEOs or top-level management need to do when the wheels fall off the wagon? TPF: We know problems will occur. Human nature is involved in this. There are many pressures on people to make decisions. Many things that we may not be aware of, what they’re going through, may impact their decision making process inside and outside of work. So things are going to happen. I think as an organization, it’s what happens at that point and time you became aware of it. Are you in denial? Do you try to sweep it under the rug? Do you try and say just that one time, it won’t happen again? Or are transparent about it? Do you raise it up? Do you look at it? Do you acknowledge it was wrong? Do you take the proper punishment of that individual, no matter what
level or importance they are to the organization? Then, do you talk to your people about it as examples? Issues have happened, actions have been taken; lessons have been learned from them. To me it’s that transparency. It’s that openness, and it’s dealing with those issues in a very open way, that the whole organization realizes the rules are for everybody. That everybody is accountable. As an organization we are going to do the right thing. Both for those that identify the issue and raise their hand, and the tough decision for those that might have done something wrong, we make sure that if the facts bear that out, they’re dealt with fairly but dealt with firmly within the organization. We don’t compromise our values. You can’t get down that slippery slope of rationalization, and then it’s hard to back up from that. DHB: So, KPMG uses these difficult decisions as teaching moments? TPF: Absolutely. We do annual ethics and compliance training programs, and we use real life stories, in that training program for people to go through. I go through the examples and I kind of give a couple, three, or four different examples. The lines are not always black and white, they blur…We try and bring examples to life. These are things that have really happened. Then we lay out what the consequences were for that individual. So here’s the issue, here’s the outcome, and here are the consequences. They can see as an organization how we dealt with those. DHB: What do you see that you can do, and those who follow you need to do, to ensure the lessons learned are with you for a long time? TPF: I think sometimes memories are short. What you want to do is make sure those hard lessons learned stay a very long time. I think it goes to succession plotting. Who are the next leaders to come into an organization? It goes to keeping the focus on the issues. We have done a lot around making sure that our people understand the kind of culture we want to create. We talk about it often, we communicate about it frequently, we talk about it when we are in front of groups, and as broad as myself or my close group of leaders is to try to drive it across the organization. When you first join us as an intern, or when you’re moving through your management ranks, as your responsibilities change. Reinforcing at every step along the way the role that you play in ensuring we have a values based compliance culture, and we don’t get outside those white lines. If someone goes down in the ditch you help prop them back up. I think it’s keeping it out in front, having success with it, growing the business, so that we can operate it in a way that it really works. Feeling good about the results, at the same time showing that there still are lapses, there still are issues, bringing those to light. Understanding the circumstances and the consequences so people see that, and being consistent in how you deal with those things. I think these are all critical parts of making sure this a living, breathing cultural transformation for a long time. bgs international exchange FALL 2010 www.betagammasigma.org 5
By: Josh McCarty, BGS Communications Associate
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he scene is Sun Life Stadium in Miami, Fla. The Indianapolis Colts and the New Orleans Saints take the field to compete for the National Football League’s (NFL’s) ultimate prize, a Super Bowl Championship. Over the next three hours, coaches, players and fans experience the many highs and lows of big-time competitive sports. For the Saints and their fans, the anticipation mounts as the final seconds tick off the game clock and the reality sets in that the team will win its first championship in franchise history. For the Colts, a season that seemed so promising is ending with the most bitter of defeats. The fans, players and coaches are left to reflect on mistakes made throughout the contest that let this championship opportunity slip away. When the game is over the Saints begin to celebrate, passing the Vince Lombardi trophy around from millionaire player to millionaire player; from billionaire owner to millionaire coach – all reveling under an immense shower of confetti. For both teams, the season is over, and there are no more victories to be had – or losses to be suffered – until the next season begins. After the stadium lights go dark and the last fan drives away from his $50 parking spot, there are many anonymous individuals within both organizations who continue to compete for their own victories – namely, what team is going to make the most money? Because just below the surface of all the dramatic moments that keep fans glued to the
action, the sports industry is a business. And the process of assembling, running and maintaining professional sports leagues and their franchises is in many ways similar to, but also very different than, the process of competing in other types of industries. Like any business in a capitalist society, the lure of making money is what drives success. For sports management professionals, there is no shortage of potential consumers and marketing targets, but the franchises that do the best job of creating excitement for their fans are the ones that will come out on top when it comes to the all-important bottom line. Super Bowl XLIV between the Colts and the Saints generated an estimated 106.5 million viewers, according to the New York Daily News, making the game the most watched program in television history. With that many viewers tuning into the CBS broadcast of the game, advertisers lined up to put their products in the prime-time spotlight. According to CBSNews.com, the network sold a total of 62 commercial ad spaces during the game, with some 30-second spots costing more than $3 million. Even in a down economy ad spaces sold out, proving once again that the NFL is unparalleled in its media supremacy. While the Super Bowl is a unique event, paying large amounts of money to be affiliated with an NFL broadcast is certainly not restricted to the sport’s most popular game. According to broadcastingcable.com, NBC pays approximately $600 million per year for the rights to broadcast the NFL Sunday Night Football package. The package includes 16 regular season games and two post-season games each year, as well as the Super Bowl every third year. During the two seasons NBC does not broadcast the Super Bowl, the network’s total cost for NFL television rights is more than $33 million per game. So why are television networks willing to pay so much money for NFL broadcasts? According to the Nielsen television ratings, NBC’s Sunday Night Football games can bring in more than 20 million viewers. To put it another way, the NFL makes money by providing the opportunity for other companies to make money by promoting their goods and services to one of the largest and most loyal audiences on the planet. Everybody wins. To put these numbers in perspective, the National Hockey League (NHL), another major professional North American sports league, recently experienced the most watched NHL game in the U.S. in the past 36 years. On June 9, 2010, the Chicago Blackhawks and Philadelphia Flyers – two big-market teams – faced off in the Stanley Cup Finals. The total number of viewers was just over 8 million, approximately 60 percent less than the number that watch a typical regular season NFL game on NBC. In other words, NFL football is king – by a long, long distance.
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Surviving – and Thriving The NFL is unique. The popularity of the National Football League has been so consistent over the years that it dominates any would-be competitors. Many outdoor professional football leagues have started in the U.S. and failed, including the well-financed USFL of the 1980s and the XFL of the early 2000s. One league that has bucked that trend is the Arena Football League (AFL), an indoor league founded in 1987. Despite a oneyear stoppage after the 2008 season to redesign the league’s economic model, the AFL was back running in 2010. So what is it about the AFL’s business structure that allows the league to survive when other leagues continue to fail? Steve Videtich, the general manager of the AFL’s Utah Blaze, says the AFL’s longevity can be traced to its business model and philosophy, which focus more on co-existence than competition. “We look at ourselves as a compliment to the NFL, not an opponent,” Videtich said. “At one point a while back, I think some in our league had ideas of becoming a fifth major sport in the U.S. We had to reassess and take it about two or three steps backward. We wanted to organize our business model. The AFL still has the potential to become a big thing, but you have to run the league in a manner that’s economically feasible.” Gene Nudo, president and general manager of the Chicago Rush, has been involved with the AFL since its beginning. Nudo said not only is the AFL not in competition with the NFL, but from a business perspective, he considers it a good thing when the NFL does well. “Anything that benefits football overall is great for the sport, which in turn is great for us,” he said. “Whether it’s the United Football League, the CFL or the NFL, I just want the sport to be successful. I’m a football guy. We’re not competing with any of those other leagues.” In 2010, the AFL signed a contract with the NFL’s flagship cable station, the NFL Network, which aired AFL regular season and playoff games, as well as the ArenaBowl Championship Game. With the NFL Network being geared to the hardcore football fan, it only made sense for the AFL to attempt to tap into that market. “Anytime you can associate yourself with the NFL, who I think is the biggest entertainment entity in the world, it can go a long way,” Videtich said. “We’re looking for the football fans and the sports fans; that’s where the football fans go. When you’re on any form of national network, in particular the network of the premier sports league in the world, that’s huge for us.” To continue to generate revenue, all professional sporting leagues must be concerned with the season ticket holders. In an effort to appeal to the sports fan, leagues and teams look for creative and unique ways to make the game experiences memorable. “We pride ourselves on the game-day experience,” Videtich said. “We try to not have one ounce of dead air during any point of our game. We have motorcycles, music and mascots. I always say that the Arena Football League experience is like going to a rock concert and a football game breaks out.”
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To make money in this competitive marketplace, leagues must find ways to stand out. “We also sell accessibility,” Videtich added. “After every game, every player of the home team must sign autographs for 30 minutes. Fans are allowed to come down on the field to take pictures. Players have to be out there. We go out and we talk to elementary schools. You want a player to come out and make an appearance, just ask. We also have a rule in the Arena Football League: If a ball goes into the stands, you get to keep it. If a player goes into the stands, you have to throw him back.” In order to ensure teams continue to have unique game day experiences, sports business professionals put a lot of effort into updating fan research, buying patterns and demographics. Jim Edmands is the vice president of marketing for the Hamilton Tiger Cats of the Canadian Football League (CFL). His responsibilities include promotions, advertising and branding, as well as the sale of tickets to the games. Prior to joining the Tiger Cats in 2008, Edmands spent 10 years as director of business operations for Maple Leaf Sports and Entertainment. He said finding out what the consumers want
Photo by Al Walter s
Business Side of Sports (continued from page 7)
can be as simple as asking them. “We do a lot of online surveys with our season seat holders and individual game seat holders,” Edmands said. “The most important fan is the season seat holder. Typically they’re the most engaged with us and most loyal to the team, so we like to see what we can do to enhance their experience.” Relying on the game day experience to drive ticket sales can be difficult, especially if teams are trying to market to customers who haven’t been to a game before. For leagues like the AFL and CFL, it’s vital that their teams maximize their visibility within their hometowns. “We have the ability and the responsibility to get out and be active in the community,” said Videtich. “If we’re out there, people are taking notice. But we also have a unique challenge of being associated with the community. We are the Utah Blaze, and anytime you have the community name tied to your business, you feel some added responsibility to not only represent the community well, but be an active member of the community.” Videtich used the example of a project the team undertook to help a young fan who was suffering from a rare disease. They helped organize a football clinic and had Blaze players attend and participate. It’s all a part of integrating the team into the community – and it’s a key to running a successful small sports franchise. While being a visible face in the community and running attractive promotions for the fans in attendance can help the sale of tickets, there are other challenges that franchises face when it comes to winning in the all-important money game. According to stubdog.com, a ticket provider for sports and entertainment industries, the current state of the economy is limiting, and in some cases prohibiting, spending by fans. For sports organizations, like any other businesses, the state of the economy has forced them to alter their plans and projections. “The economy definitely influences the amount of success we can have,” Edmands says. “It becomes more difficult to attract
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corporate sponsorships, and you also notice a decrease in ticket sales.” For the relatively small players like the AFL, ticket cost is very important. While the average cost for a family of four to attend a New Orleans Saints NFL football game is $404 (according to themoneytimes.com), the smaller professional leagues offer a relative bargain. “Arena football needs to stay as affordable entertainment,” Nudo said. “We’re doing a great job in Chicago. You can buy a seat in our game for $9, which is the same thing you can go to a movie for. And at the movie, you can’t get a beer, scream, cheer and interact with the entertainment.” The economy is causing challenges even for the biggest among sports businesses. Despite the overall success of the NFL, the league’s season ticket sales are down 5 percent from the 2009 season. The overall paid attendance is projected to fall 1 to 2 percent from the previous year, according to Street & Smith’s Sports Business Daily. “That’s becoming more of a concern,” Edmands said. “With digital television, the home experience is so good now, teams and leagues are looking for ways to provide other things to our fans that make the game experience and ticket purchasing unique.” In other words, staying home has become a powerful competitor, even though staying home and watching adds to the leagues’ bottom lines. While times are tough economically, the leagues must stress the positives and play to their strengths if they want to win the money game. “Our product is better in person than on television, which is unique compared to most sports leagues,” Videtich said. “If you’re sitting in the lower level halfway up, you’re still only 15 yards from the field. We have a 12,000-seat arena that we play in. You can see anything going on from any seat in the house. In the NFL, you can have a front row seat and still be 50 yards away from the players.” Organizational Structure Like any other company, the success of a sports league or franchise begins with hiring the right individuals. Organizations look for the best employees they can afford, and often have the luxury of hiring good individuals who are fans and like the culture of professional sports. For Edmands, who has been involved in sports since being a student athlete at Cornell University and being drafted by the Winnipeg Jets of the NHL, he draws many parallels between sports management and traditional business models. “A lot of the same business applications can be applied,” Edmands said. “It is a growing industry and becoming more sophisticated. Teams and leagues have had to become more sophisticated as well. The days of being able to just come to work and hang your team logo are gone. Successful sports franchises
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“The biggest difference is the high profile nature of our industry. Can you imagine if you were selling software and the newspaper showed daily rankings of the quality of your products, and you were in last? You don’t see it in other industries. It’s unique to what we do. But, it’s something you get used to.” Jim Edmands
Vice President of Marketing, Hamilton Tiger Cats
Business Side of Sports (continued from page 9)
rely on people who have a business background with expertise in marketing and advertising. “You not only have to manage your organization but you have to manage your customer base as well.” Victory on the field comes from outscoring your opponent, but from a business standpoint, victory has an entirely different meaning. “You tend to win from a promotional and awareness standpoint,” Edmands said. “We have an advertising budget, a personnel budget, and marketing strategies just like any other industry.” Under a Media Microscope The fan is the most important target audience for any sports organization. But it’s not the only one. The media is a true partner to professional sports, and represents the most important difference between sports businesses and other traditional businesses. After all, what accounting firm has five articles published in the local media the day after they hire a new accountant? Or the day after they fire an unsuccessful accountant? “The biggest difference is the high profile nature of our industry,” Edmands said. “Can you imagine if you were selling software and the newspaper showed daily rankings of the quality of your products, and you were in last? You don’t see it in other industries. It’s unique to what we do. But, it’s something you get used to.” In fact the media, while at times a difficult distraction, also provide a vital link between teams and their fans. With every game played, high ranking individuals in the organization will be scrutinized. Whether it’s the starting quarterback for throwing an interception, the head coach for having a poor game plan, or the director of personnel for hiring them to begin with, media outlets throughout the market spend countless
hours debating the ability of these individuals to do their jobs. But the same media scrutiny that draws the rage of fans also can be viewed as a positive by the organizations. “You like that they’re talking about you,” Edmands said. “It’s free publicity, and even if what they’re saying is negative, it still feels like a win.” The amount of media attention given to a professional sports team depends on a number of factors. If a market has three or four notable sports franchises, the attention could be divided up more than if the team is the only show in town. But there are other factors. New York currently has seven franchises in the four big leagues – NFL and NHL, along with the National Basketball Association (NBA) and Major League Baseball (MLB). But with approximately 20 million people living in the New York metropolitan area, there is plenty of media attention to cover all seven organizations. By contrast, Hamilton, Ontario has a population of less than 500,000, but that doesn’t prevent the Tiger Cats from garnering their share of media scrutiny. “We are the only major professional (sports) organization in Hamilton,” Edmands says. “The amount of (attention) we get in the radio, print and television is a huge penetration in our market. What other industry has television stations dedicated to your industry?” As mentioned, personnel decisions are vital to any business, in any industry. Sports is no different. But for the players and coaches – the employees that garner the most attention – the “celebrity” factor must be considered. “Whenever we make a decision on a coach or a player, we always have to factor in the marketability,” Videtich said. “But the bottom line is, we are asked to put a product on the field that gives us the best chance to win, and if we win games consistently, the rest will take care of itself.” Edmands shares Videtich’s philosophy of hiring the most qualified employees, but also doesn’t ignore the value of having players or coaches that the fans can identify with. For the Hamilton Tiger Cats,
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Business Side of Sports (continued from page 10)
wide receiver Dave Stala is a Hamilton, Ontario native, which makes him more attractive to the Hamilton market. “He’s a Hamilton guy, but he’s also one of our most productive receivers,” Edmands says. “Given his local ties, we absolutely want to keep him. But it’s his level of production on the field that we care about. Our football people are always looking to get the best athletes we can get at the best price, and that’s how we can maximize the productivity of our team.” In sports, team productivity is directly associated with winning the game. Two rival teams playing in a must-win situation is the essence of the competition. The Tiger Cats are one of nine CFL teams competing for the league’s championship, the Grey Cup. And while the coaches and players are focused on doing whatever it takes to be victorious against their upcoming opponent, the competition from a
business standpoint is a bit different. “While we compete with the Toronto Argonauts on the field, we do not compete with them from a business operations standpoint,” Edmands said. “We want to win the game, but it doesn’t do us any favors as an organization or a league if the quality of their product is poor. “In the last 10 years, a lot of professional sporting leagues have taken best practices and shared information with the competing teams,” he added. “They have a whole business department that supports the teams. I don’t mind sharing information with a team in Calgary. Our athletes may be competing for a victory on the field, but they’re not competing for the dollars in our marketplace. If I steal a successful ticket sales idea from them, it’s not only good for us, but it’s good for the league, which in turn is good for them.” So as fans from rival organizations shout obscenities at one another and encourage the players on the field to do anything and everything they can to win the game, the Continued on Page 14
“We’re business partners. You want to see what they do well and they want to see what you’re doing well. The league’s success will be based on the weakest team, and we’re all rooting for each other in that regard.”
Gene Nudo President and General Manager, Chicago Rush
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Business Side of Sports (continued from page 12)
rival executives behind the scenes are basically associates. “We’re business partners,” Nudo said. “You want to see what they do well and they want to see what you’re doing well. The league’s success will be based on the weakest team, and we’re all rooting for each other in that regard.” In some other businesses, many rival companies aren’t heartbroken if they watch their competitor struggle from a business and marketing standpoint. But rivalries in some smaller professional sports leagues extend only as far as the field of play. That doesn’t mean teams don’t have to compete for business in their markets. “We’re not competing with other teams in our own league, but we are competing with the other (opportunities) in our marketplace for entertainment dollars,” Videtich said. “We try to differentiate ourselves from anyone else and make the experience of attending a Utah Blaze game as unique as possible.” In professional sports, the salaries that players and coaches receive are constantly scrutinized by the media and public. Especially in the case of the most
recognizable players, every penny of the agreed upon deal will be posted on the Internet within minutes. One aspect of the new Arena Football League business model that is particularly attractive to Videtich, Nudo and other front office personnel is the absence of the salary negotiation. “We have one salary that is the same for everybody across the board, with the exception of three marketing players who make more,” Videtich said. “But as a marketing player, they have to participate in local community events and marketing.” That is a dramatic difference from big-time professional sports, where entire $100 million contracts can be held up because a similar player on another team received 1 percent more. The business of sports continues to flourish. The big boys enjoy the greatest profits, while the small competitors fight for the attention – and money – that is left over. In many ways this mirrors traditional business, where the entrepreneur fighting to establish his small business must find new ways to compete and win in the marketplace. Whether it’s the struggle to get more fans in the seats at Ivor Wynne Stadium for Tiger Cats’ games in Hamilton, Ontario, or for the Utah Blaze to find innovative ways to entertain its fans during TV timeouts, the goals are the same: win on the field and make money at the same time. It’s just good business.
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The Dollars and Cents of Fantasy Sports It’s the final moments of a lopsided football game, and yet the fans remain glued to the action. With only seconds to go, and the outcome long ago decided, fans jump for joy as the team losing by a significant margin scores a touchdown that has no effect on the outcome of the game. Why so much excitement over a meaningless score? Either the fans have no familiarity with the rules of the game, or, more likely, the player who just scored the “meaningless” touchdown is a member of the cheering party’s fantasy football team. For those who don’t participate, fantasy sports might seem like a casual hobby played by people who have too much free time on their hands. But to those familiar, the fantasy sports’ community represents an ever-growing marketplace that, according to Forbes Magazine, is a billion dollar industry. Forbes reports more than 25 million people participate in some form of fantasy sport, which explains the countless television, print, radio and web space dedicated to this growing phenomenon. One web site dedicated strictly to fantasy sports is fantasysportsventures.com. According to the site, Fantasy Sports Ventures has aggregated more than 600 owned and affiliated sites, providing coverage of all fantasy sports, reaching more than 15 million unique visitors. This site, based around a “hobby,” has developed relationships with leading national advertisers such as Sprint, Coors, Coke and McDonalds. Evan Kamer, executive vice president and chief operating
officer of Fantasy Sports Ventures, develops the overall corporate strategy for the web site. “We provide content related to all fantasy sports,” Kamer said. “There is a contrast between sites that offer tools and applications. Our site focuses on information. We want to give our visitors all the tools they need to be successful in their respective leagues.” While Fantasy Sports Ventures provides content, other fantasy platforms like Yahoo!, CBSSportsline and ESPN.com create applications that keep track of wins, losses, rosters and all of the necessary statistics to keep the league running. Unlike being a fan of a team where your participation is limited to cheering from the sideline as the front office and coaches assemble a team of players and try to win a championship, fantasy sports puts the consumer in control of assembling a roster of players they think will be the most successful. This unique experience can, at times, create a stronger allegiance to a fantasy team than a favorite team for the sports fan. As Kamer put it, fans are not losing their affiliation with their favorite teams, they are simply evolving their interest in the game itself. “It’s made sports fans smarter about the sport,” Kamer said. “People who are playing are much more in depth.” Turning Fantasy into Profit According to the Fantasy Sports Trade Association (FSTA), a typical fantasy player spends an average of $467.60 per year playing fantasy sports. And while most of that money goes into league entry fees, the rest goes to research, paid subscriptions Continued on Next Page
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Dollars and Cents of Fantasy Sports (continued from page 15)
Partnership with Professional Leagues
through fantasy host sites and applications that make the fantasy experience easier and more enjoyable. The FSTA estimates $800 million is being spent on an annual basis on products and services for fantasy sports. Participants gladly line up to pay for any information that will give them an edge in their fantasy matchup because of one important factor. “Bragging rights,” Kamer says.”People are in it to beat their friends and they like beating their friends up.” Another appealing aspect of fantasy sports is the traffic generated to the web sites. Even sites like Yahoo! that give away free content can turn a profit with more than 3.1 million visitors per month coming to their fantasy site. “The fantasy sports player tends to be a very avid sports fan,” Kamer said. “They tend to skew higher on income and spending demographics, which is attractive to advertisers.” Forbes Magazine reports the average annual household income of a fantasy sports player in the U.S. is $95,000, which is more than 50 percent above the national average. Research also shows fantasy players tend to be heavily involved in purchasing online travel, sporting goods and automobiles. “That information is absolutely helpful to our efforts to sell ad space on our web sites,” Kamer said. Even the publications that don’t specialize in or feature fantasy sports benefit from the growing demand for fantasy content. According to Kamer, of the individuals who read newspapers and magazines looking for sports information, 80 to 90 percent participate in fantasy sports. According to a study done by Ipsos North America, the global market research company, fantasy sports consumers spend three to four hours per week online researching for their games.
Prior to working for Fantasy Sports Ventures, Kamer worked as the General Manager of NFL.com from 1998 to 2005. During his tenure, he attempted to get the National Football League to embrace the fantasy football marketplace. “We did some extensive research to show how real the business was,” Kamer said. “The process took a number of years, but we were about to show that people who play fantasy football watch three more hours of football per week than the average sports fan.” There is no denying that fantasy sports brought fan interest to the game that otherwise wouldn’t be there, but with all of these pros of fantasy sports factored in, professional leagues still remained cautious about fantasy sports because of the perceived connection to gambling. According to profootballtalk.com, a partner of NBC Sports, The National Football League makes every effort to distance itself from gambling. Players, coaches and officials are banned from betting on games, and the league discourages any mention of gambling or point spreads during NFL broadcasts. So while onlookers with vested interest are tuning into the games and increasing the television ratings, the NFL takes actively tries to stop the spread of sports gambling outside Nevada. Currently, NFL.com has an entire section of their web site dedicated to fantasy football including videos, articles, blogs, mailbags and trends to give the fantasy sports player any edge they can get.
Where it Began Today we tend to take for granted the ease of which we can jump from news source to news source with the click of a mouse. The first fantasy sports league, according to NewsGames research, was the Greater Oakland Professional Pigskin Prognosticators League (GOPPPFL). Founded in 1963, the league consisted of journalists who covered the American Football League and only included players from that league. Participants would wait for the box scores in the next day’s newspaper to tally up the winners. Throughout the next few decades, this little known endeavor would grow in popularity. By 1990, USA Today estimated a little more than 500,000 people were playing fantasy sports. With the Internet boom of the late 1990’s, fantasy specific web sites began popping up throughout the World Wide Web. From this, the Fantasy Sports Trade Association (FSTA) was founded to provide a forum of interaction between existing and emerging companies in the fantasy industry, according to FSTA.org. 16 bgs international exchange FALL 2010 www.betagammasigma.org
Room to Grow The 25 million fantasy sports participants represent a little more than half of the sports audience. So while fantasy sports are already a billion dollar industry, there is still plenty of room to grow within the sports market. The evolution of fantasy sports is now reaching out beyond the hardcore fan and attracting the casual spectators who may not have as much time to dedicate to their fantasy rosters. “New sports are coming online,” Kamer said. “Football is by the far the biggest and most followed online. Tennis and Nascar are picking up. There also is a world of mini-games that are less time consuming than a standard draft-style league.” With the demand for fantasy content at an all-time high, media outlets are scrambling to get their hands on a piece of the proverbial pie. In July 2010, SIRIUS XM Radio launched SIRIUS XM Fantasy Sports Radio, which is a channel dedicated exclusively to fantasy discussions and content. Hosts on the channel not only include fantasy professionals giving analysis and advice, but also current and former athletes, including Maurice Jones-Drew of the National Football League and former National Hockey League All-Star Jeremy Roenick. With the number of participants continuing to grow on an annual basis, the demand for content continuing to rise, and the demographic of players representing an ideal market for leading advertisers, the potential for continued fantasy development is very much a business reality.
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Smartphones and the Work-Life Balance By: Seth Treptow, BGS Communications Director Please allow me to introduce you to an old friend, the IBM Simon. Simon, these are the Lifetime Members of Beta Gamma Sigma. Lifetime Members, this is Simon. Released to the public in 1993 by BellSouth, the Simon was no average cellular phone. Simon boasted an ahead-of-its-time touch screen display and its features included a calendar, address book, world clock, calculator and note pad. Simon was capable of sending and receiving e-mails and faxes and, if one were so inclined, you could even play games on it. Yes, Simon was certainly an above average phone. One might even call it a “smartphone.” Thankfully for today’s smartphone users, things have changed a bit since Simon’s heyday. Whether it’s an iPhone, Blackberry, Android or any other of the similar products to hit the consumer market in recent years, the smartphones of today have become as sleek as they are powerful. They provide a level of accessibility that would no doubt impress their forefather. Couple that high-end performance with advancements in mobile network technology and declining prices and it should come as little surprise that these devices are proliferating in the market at an astounding rate. A 2010 survey conducted by Nielsen found that nearly 30 percent of the phones currently being sold in the United States are smartphones, and 45 percent of respondents indicated that their next cellular device will be a smartphone. By the end of 2011, Nielsen expects the majority of cellular phones in the United States to be some sort of smartphone. The reasons for this groundswell of smartphone interest are many, but a key factor in these devices emerging as the productivity tool of choice is they allow users to do more work, on their own terms. “One of the biggest advantages is that you can take it anywhere,” explained
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“There’s a certain danger to work-life balance that comes with this as the ‘start’ and ‘stop’ time that previously existed for your day can easily vanish as those people expect you to be available at anytime.” Phil Montero Founder, TheAnywhereOffice.com
Phil Montero, founder of TheAnywhereOffice.com. “If you’re standing in line at the bank, that used to be down time. Now you can catch up on your email so you don’t have so much to do that night. There are certainly some huge advantages to it. “Being able to access email, and attachments as well, is huge. In the past, if someone sent me a Word document or a PDF that I had to review, maybe I would have got pinged that there was an email, but I would have had to travel into an office to be able to review that information and reply in a timely fashion. The ability to respond to clients in a timely fashion can be the difference between getting a client or not getting a client, or keeping a client happy or not keeping a client happy.“ Another advantage that Montero points out is access to a rich web based experience. “Prior to the iPhone, what you had was a very crippled web experience when using the World Wide Web on a phone. You could see text, but no pictures,” he said. “Some sites wouldn’t come up at all. But now with the latest round of smartphones you can see a web page that pretty much looks the same as you would see it on a laptop. That allows you to do research, fill out forms and use web-based tools from anywhere.” Smartphones have put the power of the Internet in the palm of the user’s hand, and with great power comes great responsibility. But some research has indicated that many smartphone users have been failing to live up to that responsibility. A 2009 survey conducted by CareerBuilder.com found that more than half (54 percent) of workers who have a smartphone or similar device said they check it when driving a vehicle. “You can work from anywhere, but that doesn’t mean you should work from everywhere,” said Montero. “Smartphones are like any technology. They can be very empowering, but like any tool it’s important to know how and when to use that tool.” Beyond risking life and limb on the highway, smartphone users also admitted to connecting with work at various formerly private settings, including: • During a meal - 62 percent • On vacation - 60 percent • While in the bathroom - 57 percent
• • • • • •
Lying in bed at night - 50 percent At a movie, play, musical, etc... - 25 percent On a date - 18 percent Working out at the gym - 17 percent At a child’s event or function - 17 percent At church - 11 percent
“One of the big dangers with something like a smartphone is that you are always accessible,” Montero said. “People before could only reach you by email when you were in the office, but suddenly they can send an email or a text message to you and expect you to check them no matter where you are.” One of the factors driving the enhanced demand for constant connectivity is the globalization of business. “A lot of companies that used to be small or local are now dealing with global clients or global partners. Because of the time-zone shift, suddenly you are dealing with people who are 12 hours different from you,” Montero explained. “That has had a huge impact on the shift of turnaround times. Where before, working nineto-five east coast time was fine for the type of clients you had, suddenly you are working with clients and vendors across the globe.” Montero places a portion of the blame on technology itself. “When I was much younger, the thought of having to wait in line at a bank on a Saturday was just something you accepted. But then the ATM came along and all of a sudden if you go to one ATM and its broken, and have to drive to another one, you’re frustrated because of the extra few minutes of inconvenience,” he said. “It’s a different world. Microwaves, the fax machine, FedEx next day delivery – any advancement like that brings with it the expectation of greater immediacy and quicker turnarounds. “There’s a certain danger to work-life balance that comes with this as the start and stop time that previously existed for your day can easily vanish as those people expect you to be available at anytime,” Montero said.
Continued on Next Page
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Smartphones and the Work-Life Balance (continued from page 19)
portable and mobile.” One example of work-life integration that Montero points out is doing work while on vacation. “In the past, that’s a vacation that I couldn’t take. I wouldn’t be able to go away with my family or spend time with my friends because there was work that I needed to attend to, work wasn’t as portable, and I didn’t have a smartphone that would allow me to connect from anywhere,” he said. “Suddenly though, if I have to do a little work while I am on vacation, but in turn it allows me to take that vacation, then that’s a win.” According to Montero, there is still a balance, just not the clear-cut separation one might typically expect. “Traditionally, we think there should be a time for work and time for play. With work-life integration – which we are seeing a lot more of – it’s both,” he said.
As far as their benefits to users, one of the biggest advantages provided by smartphones is enhanced flexibility, freeing users from their desk and office, allowing them to respond to professional and personal needs at their convenience. “If your organization gives you a smartphone, and tells you that they want you to be as effective as possible but without putting any parameters on that, to me that is really powerful,” said Julie Cohen, career coach and author of the book “Your Work, Your Life, Your Way: Seven Keys to Work-Life Balance.” “If you work for a company that is results-based not facetime based, it means you can be out and about accomplishing the job in your own time and style. Smartphones may work really well for you. “They allow people to mingle their work and life based on their terms. Smartphones give them added flexibility and choice in how and when they can respond Julie Cohen to professional Career Coach and Author of the book “Your Work, Your Life, Your Way: Seven Keys to Work-Life Balance” needs that come to them through technology,” “It allows me to do a lot of things, and spend more time Cohen said. “The point of flexibility is to enjoy other things with family and friends and have the lifestyle I choose to have, besides one’s work.” more than I could in the past. It really is though, a personal One side effect of this enhanced flexibility has been the discipline and choice how to use that technology to balance your blurring of the traditional separation between work and home life.” life. That said, Montero still believes that it is important to carve “The term ‘work-life balance’ has been surrounded by a bit out time when you are separate from the technology. of controversy of late as the term is really a myth,” said Cohen. “As much as I believe in work-life integration, for sanity, “The concept of balance is really hard to attain in general, and personal development and a rich life outside of work, it is once we get there it’s like a seesaw or a spinning top, you can’t important to have times when you are really present in the other maintain it. A seesaw stops. A top falls over.” things you are doing.” Cohen instructs her clients to reframe work-life balance Ingenhuett-Quinn agreed on the need for occasional and approach it as a personal journey. “We move a few steps smartphone separation. forward, then a few steps away. Each individual person has to “Everyone needs to be able to shut things down,” she define what that preferred destination of that journey looks like. said. “If we don’t really manage ourselves, we will never be Each person has to define what work-life balance means to him productive enough to put out what is required of us. We have to or her.” have that down time to be able to rejuvenate. We need that down Another person that has noticed the impact that time to be creative.” smartphones, and similar technology, have had on the work-life To that end, it’s important for smartphone users to establish balance is Lynn Ingenhuett-Quinn, Director of WorkLifeBalance. guidelines and in turn clearly communicate any personal limits org. and boundaries to colleagues, employers and clients. “When you think about the way things used to be, where “Are there sacred spaces, sacred places, sacred time periods we would do our work and then just go home, in some ways that where you are not going to connect? If so, you need to be very was a positive thing. You were able to leave your work totally clear with that to the people who need to know,” Cohen said. at work and then focus at home,” Ingenhuett-Quinn explained. “If it’s an employer-issued phone, you really have to be clear “There was no way for them to reach you at home, and you on the expectations of your boss or organization as to how and couldn’t do any kind of work from home. Now that we have when they want you to use it,” she added. “The challenge arises flexibility, and work with our phones wherever we want to go, if there are unusual expectations on the part of the employer or the big caveat is that we have to be very good prioritizers.” client, such as being accessible 24-7. You then have to determine One approach to work-life balance that taps into the whether that fits with the way you want to operate.” flexibility and ability to priortize afforded by portable Ultimately, such expectations may prove detrimental to the technology – and one that is becoming more prevelant with the employer. According to Ingenhuett-Quinn, the companies that growth of telecommuting and the mobile workforce – is that of pull ahead in this area will be the ones that take their employees’ work-life integration. personal needs into consideration, and are willing to integrate “I’m a big proponent of work-life integration, rather than them into professional expectations. work-life balance,” said Montero. “It is harder to cut clear lines between your work and personal life when work becomes more Continued on Page 22
“Are there sacred spaces, sacred places, sacred time periods where you are not going to connect? If so, you need to be very clear with that to the people who need to know.”
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Smartphones and the Work-Life Balance (continued from page 20)
“Organizations have to be open to listen to individuals about their needs, too. Things need to be done on both ends,” she said. “Because a happy employee will be much more productive than an employee that is frustrated.” Along with establishing guidelines for others, smartphone users may be well-served to set guidelines and restrictions for themselves. “It’s almost being abused at this point. I honestly think people have a hard time being disconnected,” said IngenhuettQuinn. “It really needs to be looked at from a personal perspective, and also in terms of etiquette. Unless there is an emergency, most of us can manage 80 percent of our time much more efficiently than we think we can.” While most smartphone users see it as a tool, and are capable of self-control as to when to turn it off, others have a much harder time putting the phone down. Accordiing to Cohen, some people feel they need that constant connection. “That’s where a lot of problems arise, when people don’t feel they can shut it off,” Cohen said. “I have seen this lead to interpersonal and family problems. One partner is always connected and the other is like ‘Hey, what about me? What about our kids?’” Recent studies suggest that this kind of technological dependence may be more concerning than one might think. A 2010 study, conducted by the International Center for Media & the Public Agenda at the University of Maryland, challenged 200 students to abstain from using their computers or smartphones for one full day. Participants reported withdrawal symptoms similar to those suffered by drug and alcohol addicts. “Texting and IM-ing my friends gives me a constant feeling of comfort,” wrote one study participant. “When I did not have those two luxuries, I felt quite alone and secluded from my life. Although I go to a school with thousands of students, the fact that I was not able to communicate with anyone via technology was almost unbearable.” “They don’t call it a “Crack-berry” for nothing,” said Montero. “There are some people – and I have colleagues and friends and family members who are like this – who can’t separate from it. Especially with social networking growing so large – where there’s Twitter and Facebook and other sites that you can easily get caught up in – you see some people who just can’t break away,” he said. Beyond the concern of chemical addiction to technology, there is a matter of simple etiquette that is also a cause for concern.
22
“Since there have been cellular phones, there has been a cell phone etiquette issue – people taking calls where they shouldn’t take calls, people talking loudly about things people shouldn’t necessarily be privy to in public places – so I really think a lot of it is an etiquette issue,” Montero said. “I would be hard pressed to say that the etiquette will ever fully catch up with the technology. I think some people are just inclined to not think about that, and use it however they decide to use it. It’s a personal choice. “Sometimes the conversation taking place in a person’s hands seems more important than the conversation they may be having with you. I see that happen quite a bit where people are texting, or updating twitter, and they get very involved with that. Sometimes it is hard to put the device down and create that separation.” While smartphones certainly give users the ability to work wherever they want, whenever they want, and however they want, Cohen recommends regular self–evaluation to determine whether the flexibility granted by the device is proving to be more of a help or a hindrance to the operator’s work-life balance. “It helps to have some kind of process to check in regularly to see if your smartphone is actually working for you. You have to ask yourself whether it is actually making you more efficient and effective or is it draining and overwhelming you,“ Cohen said. “Work-life balance does not happen by itself,” she said. “It requires pause, evaluation and deliberate choice. With that you have to say ‘no’ to certain things in order to be able to say ‘yes’ to other things.” In the end, the bevy of options and accessibility provided by the smartphones of today – just as they were in the days of the IBM Simon – are just tools, and it is up to the user to determine the best way to use them. “Everyone has his or her own tool of choice,” said Cohen. “The tools you use should support you living and working the way that you want.”
What did you think about this issue of the International Exchange? Share your thoughts with the editor: exchange@betagammasigma.org
On Sept. 12, 2010, the Atlanta Area Alumni Chapter hosted a very special event that attracted more than 100 guests. The evening was highlighted by the comments of John G. Rice, vice chairman of the General Electric Co., as he discussed the changing world of business for multinationals like General Electric. Rice also spent more than an hour after his remarks answering questions from the audience, and his insights and candor about business in Atlanta, across the country, and around the world were much appreciated by those in attendance. The event was sponsored by the BGS Atlanta Area Alumni Chapter, the Terry College of Business at the University of Georgia, and Argus Benefits. To find out more about the BGS Atlanta Area Alumni Chapter, please go to www.bgs-atlanta.org. Some of Rice’s comments from the Sept. 12, 2010 event: Defining Leadership... Some people think that you define leadership by title. That really has nothing to do with it. In fact we find that some of our best leaders are in their twenties. They get things done, and they don’t have anyone working for them. They get a lot of things done. And they are able to do that based upon the power of their ideas, their commitment and passion, and their ability to influence. I don’t want someone to do what I say, because of where I am on the organizational chart compared to where they are. If that’s the only reason they’re doing that, then that’s the wrong reason. I want them to do it because they believe it; they get it; they agree with it; and they think it’s a good thing. Even where I am in General Electric, my effectiveness is going to be governed by my influencing skills, not my title. I love to see people working with their peers, getting stuff done, because that’s true leadership. We look for that from your first day. Even before that, when you are just an intern. We look for influencing skills. We look for teamwork. We look for passion. Who wants to work for someone who is not passionate about what they do? Does anyone look forward to going to work when you work for someone who doesn’t care about what they do? I don’t think so. If you think about the most fun people you could work for, the job that you would really enjoy, I bet there are a lot of passionate people around. I look for people who can get excited about the little things. It doesn’t have to be the brand new jet engine. Anyone can get excited about that. I remember a pitch that some guy gave Jack Welch back in the mid 90s about a new travel and living process. I remember thinking to myself, “This guy’s heading into the wood chipper.” This guy was so passionate. Jack really didn’t care about the pitch, but he loved the passion and that guy ended up getting promoted. That taught me something. Everybody loves being around passionate people and passionate leaders get the most out of their teams.
On Developing Nation Infrastructure... The big difference today is that people know what they don’t have. Fifteen years ago, if you were in the middle of China, you barely knew how the people in Shanghai or Beijing were living. You certainly didn’t know how the people in Atlanta or New York were living. I was in Morocco a few months ago. I got to my hotel Sunday morning and I had a meeting in the afternoon. I was getting ready to go to my meeting when I looked out the window and noticed a row of shops, then a wall, and on the other side of the wall was the poor section of town. Two-story homes and apartments crammed together for as far as you could see, and every one had a satellite dish, every single one. I took a picture because I couldn’t believe it. Obviously, these were people that didn’t have a lot of money, but they chose to use whatever disposable income they did have to give themselves access to a bunch of television stations. So they’re watching some of the same programs that you and I watch, and are seeing how you and I live. If they don’t have a satellite dish, they have a cell phone; and all the stuff you can do with a cell phone, they can do with a cell phone. They can, from the middle of China, check the latest NBA scores. They can do all that stuff. So they’re just sitting there thinking that, “Wait a minute, I don’t have to live like this. Why can’t I live like they do?” How do the people of Iraq measure the time before Saddam Hussein was deposed and the time after? The number of hours a day that they have electricity. If it’s not more, they don’t think they have a better life. There are some very simple things that people in these countries do that matter – things that you or I might take for granted. So it is up to us to play a role in the development of these countries. In our heart, General Electric is an infrastructure company. When we look at what has to happen for two billion people around the world that lack access to the basics, it ought to be right in our strike zone. It’s not going to be easy. These problems took decades or centuries to create, and they are going to take a while to fix. That’s part of our role.
bgs international exchange FALL 2010 www.betagammasigma.org 23
Recent Alumni Chapter Activities
San Francisco Area Alumni Chapter
With 24 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.
October 21, 2010 Networking Event in San Jose
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 a list of recent events.
Atlanta Area Alumni Chapter
Cleveland Area Alumni Chapter
September 21, 2010 John G. Rice, Vice Chairman of the General Electric Co and President & CEO of GE Technology Infrastructure
July 17, 2010 Pre-season tour of the Cleveland Browns Stadium
October 19, 2010 John Ulzheimer, Nationally Recognized Credit Expert November 16, 2010 Leonard Witt, Robert D. Fowler Distinguished Chair in Communication; Executive Director, Center for Sustainable Journalism, Kennesaw State University Boston Area Alumni Chapter June 21, 2010 Dr. Sheila Moerschen and Dr. Andy Aylesworth, “The Group Mind: Building Productivity through Communication and a Shared Vision” July 28, 2010 Social & Networking at Watch City Brewing Company September 15, 2010 Sixth Annual Scholarship Dinner/Speaker Event, Renee McLeod, “Overcoming the Challenges of Starting and Running Your Own Business” Charlotte Area Alumni Chapter July 21, 2010 “France & the US: Examining Cultural Differences and Similarities” September 15, 2010 Social Event at Rock Bottom Brewery October 20, 2010 Larysa Masiero, “Farm to Plate: Comparative Overview of Parallel Food Systems” Chicagoland Alumni Chapter July 29, 2010 Ben Hockenberry, President of Artemis Search Group, “Headhunting: Horrible Name, Excellent Resource” September 22, 2010 Willie L. Carter “Creating Customer Value”
September 16, 2010 Chris Connor, Chairman and CEO of the SherwinWilliams Co, “Succeeding in Today’s Corporate Environment” October 9, 2010 Youngstown State U Football Game and tour of the Williamson College of Business Administration led by Dean Betty Jo Licata Dallas/Fort Worth Area Alumni Chapter September 23, 2010 Reorganization/Strategy meeting Denver Area Alumni Chapter March 31, 2010 BGS at the Colorado Avalanche Game July 28, 2010 Jon Wilkerson of International Funny Business, “How Can You be at Your Best When You Need it the Most?”
Los Angeles Area Alumni Chapter August 7, 2010 Networking Event at Dodgers Stadium October 25, 2010 Football Networking Mixer in Fullerton New York City Alumni Chapter October 12, 2010 Welcome Reception for newly inducted BGS members New Zealand Alumni Chapter September 8, 2010 Networking Event Philadelphia Area Alumni Chapter October 6, 2010 Networking Happy Hour at Table 31 October 28, 2010 Educational Seminar, Diego Calderin, Anexinet President and Co-Founder San Diego Area Alumni Chapter
Detroit Area Alumni Network
July 1, 2010 Networking and guest speaker event, Steven Bellach, VP, North America Marketing at Jenny Craig
August 18, 2010 Networking/ Happy Hour Event
November 4, 2010 Networking Event: Stone Brewing Co. Tour
August 24, 2010 Pre-game Social and Night at Coors Field
November 4, 2010 Speaker Event, Brian Bosley, “The Courage to Change” Hong Kong Alumni Chapter
October 20, 2010 Networking Event in San Francisco
Seattle Area Alumni Chapter August 4, 2010 Networking Event October 25, 2010 Networking Event South Florida Area Alumni Chapter September 14, 2010 Networking and Reorganization Meeting October 19, 2010 Susan J. Toepfer, Esq., “How Social Media Can Affect Your Job” South Texas Area Alumni July 22, 2010 Elections and Speaker Series Event, Dr. Teofilo Ozuna St. Louis Area Alumni Chapter June 3, 2010 Networking/Happy Hour Event September 17, 2010 Social Night at Busch Stadium Switzerland Alumni Chapter November 9, 2010 Dinner Event in Zurich Washington, D.C. Area Alumni Chapter September 23, 2010 Speaker Series Event, Entrepreneurship Discussion and Q&A October 28, 2010 Networking Event
Members of the Cleveland Area Alumni Chapter July 17, 2010 tou at the r of Cleveland Br owns Stadium
July 22, 2010 Happy Hour Gathering September 18, 2010 Volunteer Event with HKU Houston Area Alumni Chapter August 19, 2010 Margie Dorrance, Houston Association Realtors Chair, “Economic Effects in the Greater Houston Area.”
October 21, 2010 “Social Media in Practice”
For more information about the BGS Alumni Network or to connect with the Alumni Chapter in your city, go to www.betagammasigma.org/alumni.htm 24 bgs international exchange FALL 2010 www.betagammasigma.org
Profiling the Best in Business Joe Traum - BGS 1963, Baruch College
“…and Paul is a real estate novelist, who never had time for a wife. And he’s talking with Davy, who’s still in the navy, and probably will be for life.” - Billy Joel, 1973 eal Estate Novelist isn’t the typical job description for a lifetime member of Beta Gamma Sigma (or anyone else for that matter). For Joe Traum (BGS 1963, Baruch College) however, it’s the most appropriate way to describe the latest chapter in his life. What is a real estate novelist exactly? The term signifies the combination of his passion for writing as well as his 40year career in real estate banking, which in March 2010 resulted in the release of his first published novel, “Waking Up.” “Waking Up,” as described by Traum, is the story of a man, Michael Hayes, whose life seems to be in a downward spiral following the murder of his 11-yearold son, the disintegration of his marriage and the collapse of his real estate career. After the police show a lack of progress in finding the killer, Hayes embarks on his own investigation that leads him to a world of drug smuggling and duplicitous real estate deals in the U.S. and Japan. While “Waking Up” is a fictional novel, Joe Traum’s journey to becoming a novelist is a more unlikely story. “Growing up, I loved to write,” Traum said. “I took a journalism class in high school and there was another guy in my class who the teacher said would be the next sports editor. That motivated me because I felt like I could do the job better than anyone. I began working for my high school paper writing short feature stories, and eventually worked my way up to editor in chief. I enjoyed the aspect of having people read and comment on my articles.“ Traum’s passion for writing carried over into his career goals, as he initially set out to pursue a career in journalism. But the allure of financial success drew him in another direction. “I started doing some research, and realized how much money you can make in accounting,” Traum said. “I was accepted to Northwestern University for journalism, but I thought I would be better off pursuing accounting, earning wealth and then attempting my writing career in a few years when I had a nice financial cushion.” The plan never came to fruition as Traum continued his climb in the job market after graduating from the Bernard M. Baruch Business School of City College of New York in 1964. Traum worked at an accounting firm before he enlisted in the U.S. Navy. After his time with the Navy, he began his career as a real estate investment banker, working for companies in the U.S. and Japan. In 1994, Traum was approached by author John R. White to join other leading practitioners of shopping center development to contribute a chapter to the book, “Shopping Centers and
R
Other Retail Properties: Investment, Development, Financing and Management.” This would be his first opportunity to attempt writing a published work longer than short feature stories. The work, published by John Wiley & Sons, Inc. in 1996, has been selected as a textbook for many top graduate school MBA programs, and was also marketed and sold successfully in Europe, according to Traum. “Having a chapter in that book was very prestigious,” Traum said. “I embarked on writing on real estate investment viability. I never knew how long 10,000 words were until I had to produce them. It took me back to my journalism days trying to take something dry and boring and make it an interesting read.” During the final 13 years of his real estate career, Traum worked at Nomura Real Estate in Japan, where he was responsible for overseeing their U.S. assets. During his time in Japan, Traum learned what he refers to as “the Japanese way,” which would be prevalent in his future novel. After his retirement from real estate banking in 2005, Traum decided it was finally time to chase his passion of writing. “I realized that I wanted to write, but I didn’t know how,” Traum said. “Just as you have to learn the real estate business, you have to learn the writing business. I needed to find a place where I could go to writing classes and get trained. It turned out there is a place in New York called the Gotham Writers’ Workshop, which was perfect for people like me. “The first day I walk in, and everybody is 30 to 40 years younger than me,” he added. “These groups were run by teachers, authors and editors. I was told they teach you how to write literary fiction, and not genre fiction. I was only one sentence into my writing career, and I already had no idea what they were talking about.” Initial confusion aside, Traum was ready to go to work, and work he did. Any idea of rest and relaxation during the first year of retirement quickly gave way to the rigorous demands of the workshop. “The training program lasted one year,” he said. “During that time, I wrote 10 to 12 short stories. The one thing I had going for me was since I didn’t have any writing habits, I hadn’t had the opportunity to develop bad habits, and the instructors loved that. Writing short stories was a great training method because if you write a novel and it’s not any good, you have wasted a lot of time. If you write a short story and it’s not any good, you just write another. The hardest thing was coming up with what am I going to write about. I would see somebody walking on the street, and try to pick something about them.” Coming up with the right topics and putting them into words may have been an obstacle early on, but Traum’s primary objective was gaining the approval of his instructors when he Continued on Next Page bgs international exchange FALL 2010 www.betagammasigma.org 25
“I always intended to use real estate as the grounding point of my stories,” Traum said. “Real estate is something that people can understand, whether they have negotiated a lease or bought or sold a house. It’s an easy background for people to grasp.” Joe Traum (BGS 1963, Baruch College- The City University of New York) Author, “Waking Up” handed in the finished product. As he continued to grow as a writer, he struggled with one person in particular who enjoyed criticizing his work. “There was one instructor in the group who kept attacking my writing,” he said. “She told me my writing was so awful that she doesn’t know why I wasted my money buying a pen.” Nearing the end of his training program, having endured a year’s worth of criticism and insults from this instructor, he had something happen that changed his direction. He just completed another short story for the class, and it was time to hear what the instructors thought. “I show up for the workshop and I’m told the instructor is looking for me,” Traum said. “I get in front of her not sure what she is going to say, and she tells me that she took my story with her to Maine while she was visiting her mother. Her mother read it, and she loved it. I couldn’t believe it, coming out of her mouth, a compliment. Of course, she then added, ‘my mother is a very stupid woman.’ “The short story I had written was called ‘Waking Up,’” he added. “When I looked at my notes from all the instructors, I found the comments were more positive than negative.” “Waking Up” took many elements from Joe’s life experiences as a real estate banker and applied them to the plot of the story. “I always intended to use real estate as the grounding point of my stories,” Traum said. “Real estate is something that people can understand, whether they have negotiated a lease or bought or sold a house. It’s an easy background for people to grasp.” Having received praise for “Waking Up”, Traum became motivated to attempt to turn the 30-page short story into a 400page novel.
“I had plenty of experience writing short stories and feature stories, but taking on a novel was something completely new to me,” Traum said. With “Waking Up” published by Cambridge House Press earlier this year, Traum intends to continue writing. He is currently working on another fiction novel based on real estate. He prefers fiction to non-fiction, for of all things, the realism. “Fiction has to be more honest than non-fiction,” Traum said. “You’re allowed a little fluff in non-fiction, but in fictional stories, you have to make the reader believe what’s happening is real. “I was hoping the first draft would be finished by the end of the summer. I had no idea how much time I had to spend promoting the first book between bookstore signings, radio shows and library presentations.” Traum does enjoy his time with one group. “I enjoy the book clubs,” he said. “They read it and they read it hard. They have a lot of questions, especially about my ending. I love my ending. I tried very hard to make the ending meaningful and yet ambiguous enough.” Traum learned early during his days at the Gotham Writers’ Workshop that the quality of the ending can make or break the entire novel. “The ending at first should make the reader say ‘oh my god’, but after thinking about it, they say ‘but of course’. I’m confident the ending of ‘Waking Up’ accomplishes that.” For more information on Joe Traum, the real estate novelist, or to purchase “Waking Up” in paperback or Kindle edition, please visit his web site, JoeTraum.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.
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Gifts from Friends
GENEROUS DONORS SUPPORTING BETA GAMMA SIGMA October 1, 2009 through September 30, 2010
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. Chairman’s Board $2,000-$4,999 Business Achievement Award Joseph W. Moeller The University of Georgia Ogden O. Allsbrook James Madison University Robert D. Reid Loyola Marymount University John T. Wholihan Marquette University Theodore C. Rogers Ohio Northern University James W. Fenton, Jr. University of Pennsylvania John C. Hanson Texas Christian University Gordon R. England Director’s Table $1,000-$1,999 Arizona State University Brig. Gen. William Weise 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 Fordham University Bert W.M. Twaalfhoven Kent State University George E. Stevens University of Massachusetts John F. Smith, Jr. University of MissouriColumbia Carl S. Quinn New York University Graduate School of Business Robert Kaufman North Carolina A&T State University Bernard J. Milano The University of North Carolina at Greensboro James K. Weeks Northwestern University Ernest C. Styberg University of Pittsburgh Donald R. Beall University of Rhode Island James A. Viehland Rutgers-The State University of New Jersey Newark Gerald H. Lipkin Saint Joseph’s University James J. Maguire Valdosta State University Kenneth L. Stanley Villanova University Debra A. Arvanites Western Carolina University James A. Valkenaar, Jr. President’s Cabinet $500-$999 The University of Alabama Col. Marinda J.C. Wood University of Alabama at Birmingham M. Gene Newport University of Arkansas Thomas F. McLarty Aston University Tim Watts Auburn University at Montgomery Kath M. Carter Baylor University David M. Jacobs University of California at Berkeley Robert R. Kirkpatrick University of California Irvine David H. Blake California State University, Chico Henry W. Wright California State University, East Bay Atul Dhablania California State UniversitySan Bernardino Anh M. Nhieu Clark Atlanta University Janice D. DuBose Drexel University Chad W. Tursi Duquesne University James M. Zillian East Tennessee State University Allan D. Spritzer Indiana University Christopher T. Winkler University of Iowa William C. Hunter University of Kansas W.C. Hartley University of Maryland Curtis L. Scribner Russell F. Smith
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