Spring 2010 BGSIE

SPRING 2010

Corporate Sustainability How Going Green can be Good for Business

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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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EBL in Action: What Happens When Things Go Wrong?

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Corporate Sustainability: How Going Green can be Good for Business

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Sustainability Booming in B-Schools

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Q&A: Ellen Weinreb, Sustainability Recruiting

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Sustainability from the Ground Up

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BGS Member Survey: More than a Paycheck, BGS Inductees Expect More from Employers

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A Message from the BGS President

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s president of the Honor Society Beta Gamma Sigma, I’ve had the opportunity to meet and work with many outstanding people. Traveling to visit with deans and other business school personnel in the U.S. and in other countries has been particularly satisfying, as I have gotten a first-person view of the value of Beta Gamma Sigma on various campuses around the world. Participating in BGS alumni chapter events in the Cleveland area – my home – and in several other places has shown how important it is for the Society to maintain a meaningful, beneficial relationship with its lifetime members.

Along the way I’ve shared my personal thanks and expressed those of the organization to many, many people.

Alumni chapter officers, collegiate chapter representatives, deans, members – I’m sure over the years I’ve missed far too many, but each individual who is a member of Beta Gamma Sigma deserves our thanks. Without the collective talent and participation of every member, the Society would not be what it is today. For all those who have not crossed paths with me over the years, thank you very much for your service to our Honor Society.

However, there is a special category of BGS member that deserves a great deal more recognition than it gets.

There are a significant number of individuals who go above and beyond when it comes to supporting Beta Gamma Sigma; they provide more than their fair share. Those who make financial gifts to BGS – and make possible many of the Society’s benefits and special programs – are the ones I would like to thank in this column.

In 2009, lifetime members and friends of Beta Gamma Sigma gave nearly 3,000 gifts of various sizes in support of the Society’s activities. While some gifts were larger than others, each is vital and sincerely appreciated by the Central Office staff and the Board of Governors. Because, while we get the pleasure of working with outstanding students at the Student Leadership Forums, or distributing scholarships through the BGS Scholarship Program, or working with the very best in the corporate world while building the BGS Center for Ethical Business Leadership, none of these activities would be possible without the continuing – and growing – financial support of our contributors.

Unfortunately space is always tight when we put together the BGS International Exchange. With each issue we have much more to say than space allows. But I encourage and invite each of you to read through some of the names on pages 12 and 13 – the list of BGS contributors. Over the years we’ve had to make the point-size smaller and smaller on this list, but in fact we should be making it larger. We should be giving these individuals much more recognition than we currently do, but as the number of contributors has gone up the space available hasn’t changed much. That is unfortunate, because their value to the Society is much more than can be measured in five-point type.

While putting together this issue’s list of contributors, the staff was struck by the number of members who have given regularly through the years. We came across one man who, in his 23 years of BGS membership, has given a significant gift 22 times. I am 100 percent certain we have not thanked this individual enough, nor have we given him the recognition he deserves, but he continues to provide

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the vital support that allows us to do so many of the good things that make Beta Gamma Sigma stand out in the business school community and the professional world.

I want to once again thank this man and the thousands of others like him who continue to value their lifetime membership enough to support their fellow members with generous gifts to the Society.

There are so many worthwhile causes that rightfully grab our attention. All of us who are fortunate enough to live our lives in a time and place of unprecedented comfort do our best to support those causes that are nearest and dearest to our hearts.

Currently, the unimaginable suffering in Haiti plays out in our living rooms every night, and people around the world are reaching out and supporting organizations that attempt to improve the daily living conditions of those unfortunate people.

In our communities, we assist those organizations searching for cures to horrible diseases that cause immense suffering; churches, synagogues, mosques and other places of worship; children and family service organizations; our alma maters and other educational institutions; and many, many others. As I said before, there are so many worthwhile places to provide assistance with our time, talent and treasure, and Beta Gamma Sigma members are out there helping in all these examples and many others.

But once again, I wish to shine the spotlight on those members who put BGS on their list of charitable organizations to support each year. It’s quite humbling to think of all the individuals that did this last year. Just think: out of all the worthwhile charities and organizations doing great work throughout the world, 3,000 members decided that the activities and members supported by Beta Gamma Sigma deserved some level of support.

I want to personally thank those who made this decision. On behalf of the 1,500 members who have received BGS scholarships, I thank you. On behalf of the more than 1,100 student members who have benefited from participation in the Student Leadership Forum, I thank you. On behalf of the thousands of members who have taken part in alumni chapter activities, I thank you. And on behalf of the 650,000 lifetime members who received the certificate and lapel pin, which signifies they are lifetime members of the world’s premier business honor society, I thank you. Your gifts have raised the profile and prestige of Beta Gamma Sigma for all members.

Again, I invite you to look over the list of contributors on pages 12 and 13. The names are easily overlooked, with point sizes more appropriate for insignificant footnotes, but each has made a huge impact. On behalf of the BGS Board of Governors, staff, and the entire membership, I sincerely thank you if your name is included on that list.

George E. Stevens Kent State University President of Beta Gamma Sigma

What happens when things go wrong?

In spite of all the good ideas and well-meaning intentions, sometimes ethical transgressions do occur. When they do, a company must regain its reputation for conducting business with ethical intent and determined purpose. Then it must examine its policies and procedures to see how the problem behavior escaped the many safeguards. What went wrong? Why was this not foreseen? What checks and balances or training could have prevented this? What must we do now to ensure against similar or different transgressions in the future? How do we recapture the commitment to ethical business leadership?

The following interview excerpts provide some insight into what happens when things go wrong.

Robert Corcoran Vice President of Corporate Citizenship, General Electric “It frequently happens because either there is no culture of right and wrong – just profit – or there is intensive pressure for profit. You’ve got to look at the weakest link in that chain. For a shareholder, for a company, there will always be weak links. When the link is lower in the organization or early in their career, or somewhere where it is not catastrophic to the entity, when it breaks, when it happens you deal with it. You deal with it with finality, and you carve that out, that individual, or you take that loss. You put in steps to detect it in the future. You put in remediation to fix it and you convey that to everyone else in the organization as, ‘This happened, this was bad, we fixed it, here’s what it cost us.’

“When it happens at the top, when that weak link in the chain is in the corporate suite, then you have a bigger issue. Then you have an issue that can just tank a company, can cause billions and billions of squandered shareholder value. That’s much, much harder. And it is either because up through the chain came an individual who always played it loose, or was hired in at a senior state into the company and the company didn’t vet it, or didn’t oversee it or gave them a lot of latitude.

“In GE we have a very strong pipeline of people coming up from within.

We acquire companies and bring in people mid-career, but the culture, the procedures, the controls, the audit mechanisms, the toll-gates that we go through regularly are as good as we know how to make them to bring people in and assimilate them at various states. But we don’t have a situation where the top five people in the company have less than 10 years combined service. In GE, the top 10 people in the company have well over 150 or 200 years of GE service. So they have a clear experience of growing up in an environment where integrity matters and lack of integrity has a consequence. Each of those individuals at the top of our company has clearly presided over and fired people for integrity violations.

Earlier in their careers, people within their lines of sight – who made poor ethical decisions willingly – were fired. And those folks get it. They understand it.

“It’s a part of culture. You can see the systems there, but does the culture – the environment – really mean it? When you look the other way, or when you say, ‘That’s okay,’ to the child that stole the candy bar, ‘next time you’ll pay for it,’ what the child learns is that there is no consequence to stealing it. Just don’t get caught next time because it’s okay. When you drag that child right back into that store, make him pay for it and let him know that this was a significant event, that child knows this is wrong, that there is a consequence, and it is far better to not steal it than it is to steal it and suffer the consequence.”

Timothy P. Flynn Chairman, KPMG International

Anne M. Mulcahy Chairman of Xerox Corporation “If things aren’t going wrong, then you just don’t know that they’re going wrong. Part of this is having a company where you’re surfacing things that are going wrong. We do audits throughout the company on a global basis. We report to our audit committee whether they’re satisfactory or not satisfactory, and some of these involve code-ofconduct issues. Lots of them just involve business failures – we were setting targets, we wanted 95 percent satisfactory, 98 percent trying to get better every year.

Finally I said, ‘What I think we need to do is actually take on the tougher problems and not be targeting perfection here.’

“What we ought to be doing is actually enabling people to bring forward the problems in the business. We have to take the burden of making sure that people are educated and they have the tools that they need to do their job; that they have the decision criteria that they need to make the right decisions. We try to enable an environment where mistakes can be made and corrected.

“Problems are generally known somewhere in the organization. The longer they stay undiscovered by the people who can solve them, the bigger they get and the uglier the issues become. One of the things that you have to have in a company like Xerox is people who have courage to give you the bad news, to be honest critics, to put problems on the table, because they are there. If you’re not hearing about them, they’re just getting bigger and tougher to fix.”

“Problems will occur. Human nature is involved in this. Many pressures are on people to make decisions. Many things that we may not be aware of are going to impact their decision-making process inside and outside of work, so things are going to happen.

As an organization, it’s about what happens at that point in time to make them aware of it.

“Are you in denial? Do you try to sweep it under the rug? Do you try and say, ‘it’s just one time and it won’t happen again?‘ “Or, are you 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 how important they are to the organization? And then do you talk to your people about it as examples – issues that have happened, action that was taken, and lessons that were learned from that?

“To me, it’s that transparency, it’s that openness, and it’s dealing with those issues in a very open way.

The whole organization will realize that the rules are for everybody, that everyone is accountable, and as an organization, we are going to do the right thing.”

Additional interview excerpts are available for viewing at the Beta Gamma Sigma Center for Ethical Business Leadership, www.eblcenter.org.

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Corporate Sustainability How Going Green can be Good for Business By: Lauren Scheidemantel, BGS Communications Associate

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or business and industry, the take-make-and-waste system that dominated much of the last century is no longer an acceptable means to productivity and prosperity. A new era has dawned, and a cause that once drew its earliest support from environmentalists has now evolved into a mainstream, global effort spearheaded by some of the largest and most powerful companies in the world. That endeavor is corporate sustainability – a strategic business practice that creates long-term shareholder value by accepting opportunities and managing risks related to economic, environmental and social issues.

Corporate sustainability is not a new business concept, but it has gained a lot of ground as corporations have realized that being sustainable can produce a number of business benefits.

Joel Makower, executive editor of GreenBiz.com and author, speaker and strategist on corporate sustainability, explained that when the sustainability movement began more than 20 years ago it was mostly fueled by a company or industry’s regulatory concerns.

“It really started off with simply the idea of, ‘Let’s be in compliance, and let’s stay in business,’” said Makower.

However, during the 1990s, “A growing portion of companies began recognizing there were opportunities to simultaneously improve their bottom line by cutting cost, and improve their reputations – not just among the public, but among job seekers, customers, regulators and the media,” he added.

“Over the past decade, what’s happened is, this has not only continued, but it’s gotten to the point that it’s not simply about improving the bottom line, but increasingly, being a green business is seen as a way to grow the top line – to innovate and create a foundation for new products, new services, and whole new lines of business.”

The realization that sustainability can actually create new markets has strengthened the movement.

“Business sees that is where the opportunity and the need is,” said Rick Bunch, managing director at the University of Michigan Erb Institute for Global Sustainable Enterprise. “Furthermore, so many of the kinds of products and services that our society and others need are related to social and environmental challenges. How are we going to provide fresh water to a huge part of the world? How are we going to provide protein to the growing population when we don’t have any more arable land available?

And all of our fish stocks are crashing? That’s the kind of problem that markets solve best.”

Bunch observed that governments simply are not getting the job done.

“Increasingly, the expectation and opportunity to provide that solution is with the private sector and people see that,” he said.

Big business is engaged in sustainability now more than ever. A recent study titled, “2009 Greening of Corporate America” conducted by the Building Technology Division of Siemens Industry, Inc. and McGraw-Hill Construction, found that 75 percent of the largest U.S. firms are implementing sustainable business practices.

Some of the most recognizable brands currently leading the pack in sustainability include Nike, Hewlett-Packard, McDonald’s, and surprisingly to some, Walmart.

Nike, for example, uses organic cotton and its entire manufacturing process generates less waste than its retail packaging; Hewlett-Packard is the first major IT company to report greenhouse gas emissions associated with its supply chain and has made efforts to remove toxic substances from its products; and McDonald’s only buys fish from sustainably managed fisheries, and is also working to eliminate Styrofoam packaging and the use of antibiotics in its food products.

But it is Walmart that has probably most radically committed itself to sustainability. The retail giant has set ambitious goals to operate solely on renewable energy, create zero waste, and sell products that conserve resources. Walmart will also require its more than 60,000 suppliers by 2012 to source 95 percent of their production from factories receiving one of the retailer’s two highest rankings in environmental and social audits. And the company most recently made headlines for its announcement

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of the development of a Sustainability Index that will eventually measure the sustainability of every product on its shelves.

What may be most interesting is that a lot of what companies are doing to make their business more sustainable is largely invisible to the public. In many cases, being more sustainable is an opportunity to enhance public relations, but it can also be problematic for companies to disclose all they’re doing.

“So much of it is about doing less bad,” said Makower. “And to say, ‘There are 40 percent fewer toxic materials in our processes than last year’ isn’t a very happy story to tell.

“Secondly, a lot of benefits don’t end up on the products. If McDonald’s potato suppliers use a closed-loop washing process and recycle the water when they wash the potatoes, saving tens of millions of gallons a year from going into the waste stream, that’s an environmental benefit. But they’re not about to put a green seal on their french fries.”

Despite the communications tightrope some companies walk as they become more sustainable, it isn’t causing them to scale back their efforts. More companies are clamoring to get a seat at the table. Traditionally, things like energy, toxins, climate and regulatory concerns have been the biggest drivers for sustainability, but increasingly other factors are influencing these changes.

“Sometimes it’s driven more by competitors than anything else,” said Makower. “If Dell does something then HP has to do it; if FedEx does something then UPS has to do it, kind of thing.

In some cases, it’s the ability to attract and retain talent. If you’re a high tech

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“You can only compete so much on salary and comp packages.

Particularly the new generation in the workforce wants to work for companies they perceive to be good companies – however they define that.”

Joel Makower

Executive Editor, GreenBiz.com

company in Silicon Valley trying to get the best and brightest engineers, MBAs and the like, you can only compete so much on salary and comp packages.

Particularly the new generation in the workforce wants to work for companies they perceive to be good companies – however they define that.”(See related statistics on page 11.)

Sustainability initiatives are being steered as much from the top of an organization as they are from the bottom.

“A lot of companies are responding to employees’ enthusiasm to (sustainability) and employees’ initiation of green products,” said Makower. “For a big global company, they’re finding there are ambitious and successful initiatives taking place in Europe, Latin America, India, China and South Africa in their

field offices or factories, and they are realizing they are in a middle of a revolution they didn’t even know existed within their own company.”

If a firm wants to become more sustainable, there are a number of things it can do, even within its own facilities.

“It can be as simple as a re-lamping program; doing an energy audit to see how much of the equipment that is on and within the building is being used,” said Thomas Taylor, general manager of Vertegy, a St. Louis-based sustainability consulting firm.

“It can be going through and doing what we call retro-commissioning, to find out if the equipment in the building is running as the manufacturer recommended. Are they consuming more energy than they need to?”

In fact, energy is typically one of the first areas companies look at when they decide to implement more sustainable practices. According to the “2009 Greening of Corporate America” report, nearly 91 percent of corporate America believes energy efficiency is a vital component of a firm’s sustainability program.

“In general, it usually starts with energy, because energy is a controllable cost and one of the things that companies are using fairly inefficiently,” said Makower.

However, even before a company decides what its sustainability initiatives are going to be, it is important a firm knows its impacts.

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Corporate Sustainability: How Going Green can be Good for Business (continued from page 5)

doing,” said Taylor. “Are you operating the way that you thought you were operating?”

However, companies sometimes have trouble with their assessments. For example, “They think it’s more sanitary to use Styrofoam,” said Taylor. “We found in our building that the cost to replace Styrofoam with washable mugs and glasses for coffee and water – we bought all the mugs and glasses we needed and the dishwashers to service those – was the same price as six months of Styrofoam and paper products.”

Once a company has properly assessed their impacts, it can start developing a sustainability program to figure out exactly what it is trying to accomplish.

“At the heart of all this, companies need to ask, ‘What’s the story we want to be able to tell about our company?’” said Makower. “’What’s the story that we can tell now, and how do we get from this story to that story?’”

The story a firm creates may be perfectly crafted, but many companies struggle when fully committing to its plot.

“Companies, like individuals, find change difficult – particularly if it’s not life or death,” said Makower. “If a

company is about to go bankrupt or is in a very competitive market, the people understand that kind of change – it’s critical to survival. If you’re all of a sudden needing to reduce waste and energy use, that usually requires behavioral changes or changes in processes or procedures. And even the best intended companies with the most committed leaders bump up against this.”

Keeping sustainability initiatives front of mind may always be challenging for a firm, but the need to find business solutions for environmental, social and financial problems is not going away.

“The same issues are going to be around – energy, water, waste and toxics,” said Makower. “Companies are sharpening their pencils and recognizing that there needs to be a business case for everything they do. I think that’s helping them move from random acts of greenness to a much more strategic look at what their impacts are and how they can save money, create business opportunities, and as a result, make themselves more competitive.”

Share your company’s sustainability efforts with Beta Gamma Sigma. exchange@betagammasigma.org

Sustainability Booming in B-Schools

By: Lauren Scheidemantel BGS Communications Associate

While the sustainability movement certainly has industry buzzing, it has also roused business schools to “green” up their programs – specifically, their graduate degree offerings. Increasingly over the last decade, business schools have been integrating sustainability into their MBA curriculums to educate and train the next generation of leaders to tackle economic, environmental and social issues with costsaving, innovative business solutions.

According to Beyond Grey Pinstripes, a survey conducted by the Aspen Institute that ranks and evaluates full-time MBA programs based on how well they prepare and educate their students for the environmental, social and ethical complexities of business, the percentage of schools that require students to take a course dedicated to business and society issues has significantly increased: from 34 percent in 2001 to 69 percent in 2009.

Business school faculty and administrators say the development of programs that incorporate solid MBA competencies – management, finance and entrepreneurship with a core understanding of environmental and societal issues – were largely created in response to student demand and a shift in the market.

“Businesses were seeing environmental issues morphing from being operational and tactical issues – things like, stay out of jail, don’t pay fines, and don’t have a lot of waste – to more strategic issues that could create opportunities to offer new products and services in the marketplace – the kind of stuff MBA students dream about,” said Rick Bunch, managing director of the Erb Institute for Global Sustainable Enterprise at the University of Michigan.

The Erb Institute, which Beyond Grey Pinstripes survey ranked #1 in the U.S. and #2 in the world for its incorporation of social environmental

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stewardship into its MBA curriculum, is just one of many visionary programs recognizing business education’s role in moving industry and the world towards a more sustainable future. The Erb Institute, created in 1996, is a partnership between the Stephen M. Ross School of Business and the School of Natural Resources and Environment (SNRE) and offers a three-year joint Master of Business Administration and Master of Science degree.

This interdisciplinary approach to the curriculum, Bunch said, equips students not only with strong MBA skills, but also with an environmental science and policy background to understand what is required of business and the society.

“It gives them the ability to see opportunities or obligations faster than someone who only has an MBA, because they have a much stronger appreciation of the science, natural science and the science of environmental technologies,” he said.

The Erb program offers students a variety of courses and real-world experiential learning opportunities to hone their knowledge in sustainability and meet the demands of the changing business landscape, a key reason for its high regard and reputation. For example, during the last seven weeks of their first year in the MBA

program, students take on a fulltime consulting assignment, a Multidisciplinary Action Project (MAP), assisting corporate and nonprofit clients in addressing specific problems – developing sustainable business strategies, streamlining processes to reduce waste, and developing models to measure organizational effectiveness in the pursuit of sustainability.

In addition, the program also requires students to hold summer internships that support their studies.

Last summer, Bunch said, a third of the Erb students pursued internships with nonprofit and government organizations.

“We had an intern at the White House working on climate policy. We also had interns at Environmental Defense who were placed with big companies around the country to help reduce their energy and carbon footprint.”

The final applied learning experience of the Erb MBA/MS program is the Master’s Project/Thesis that students must complete as the culmination of their Master’s of Science degree. For a majority of students this involves a group project working with external client organizations such as Ford, Dow, Detroit Edison and others on issues surrounding sustainability.

The joint degree format of the Erb program and the bevy of experiential learning opportunities has been a major draw for those seeking more from a standard MBA program. In the last 18 months, Bunch said enrollment has doubled with a majority of students coming from the private sector.

“They come here because they’re in an organization and can see this is becoming a major strategic issue and opportunity, and know that it is going to advance their professional horizons to get a degree like this,” he explained.

First year Erb student Adam Carver, who previously worked as a CFA and trader of financial securities at Morgan Stanley, believes his dual MBA/MS degree and training at the Erb Institute will be his “differentiator.”

“Anybody can study environmental business, and that two-year MBA may graduate still with only the skills to evaluate a company based on financial statements. I wanted to be able to see it through a different lens,” said Carver. “I have the financial analysis background, but now I’ll be able to understand the technology, the environmental issues, challenges and disputes that firms will be

facing in the future.”

Carver, who is focusing his studies on sustainable energy systems said, “Eventually I want to say to a company, ‘You want to invest in water? I I know you’ll like know water. I studied it. what we came up with.

I did an internship on it.

I worked on a professor’s research in this area.’ The Erb program gives me that Get your best GEICO rate on auto insurance opportunity.” as a Beta Gamma Sigma member.

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Donahue Graduate School of Business offers an accelerated 12-month Sustainable MBA program that weaves sustainability into the fabric of its curriculum.

“The one-year format is obviously important in the marketplace. For people who want to study full-time, to leave their jobs for extended periods isn’t a good thing,” said Alan Miciak (BGS 1994, Kent State University), dean of Duquesne’s Palumbo School of Business and Donahue Graduate School of Business. “In many ways, we’re trying to integrate what the other schools have to offer into the curriculum and the experience the students are getting here.”

Students enrolled in Duquesne’s Sustainable MBA program complete a series of consulting projects with corporate, nonprofit and government clients, which includes two international experiences.

“We spend two trips that focus more on a developed economy’s sustainability practices – traditionally those might be in Europe or Germany or Japan with some partner organizations and partner academic institutions,” said Dean Miciak. “We have other trips that really focus more on the developing world. This year, those will be in India and Ecuador.”

In the early stages of the Sustainable MBA program, he admits it was somewhat challenging to recruit corporate project partners and communicate how its graduates could serve their organizations. However, during the last few years, the program ©

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Sustainability Booming in B-School (continued from page 7)

has grown to have a backlog of client opportunities and a higher job placement rate. He attributed this to two key factors.

“One, our program is gaining recognition and visibility and people understand it better. But at the same time, businesses are under increasing pressure to understand what sustainability issues mean to their organizations and are looking for people who understand how business and the environment interact, how business and society interact, how this affects financial performance, and so forth. I think that has gained a lot of steam.”

Business has gradually embraced new notions of sustainability and with that acceptance has come the realization that it also represents a market opportunity to create and develop new products and services. Thus, some business schools have designed graduate degree programs that specifically focus on the growing area of sustainable entrepreneurship, such as Colorado State University’s Global Social and Sustainable Enterprise (GSSE) program in the College of Business.

The GSSE program offers a Master of Science in Business Administration (MSBA) degree to those interested in solving environmental, social and economic issues with entrepreneurial private sector approaches. Since 2007, each fall the program admits a small group of 25 students who spend 18 months learning traditional MBA skills and working in teams to create new ventures that have the potential to change the world.

“That really is the big differentiator,” said Carl Hammerdorfer, director of the GSSE program. “Our students actually form and own companies in the program.”

Many of the students choose to develop these new ventures overseas. In the summer of 2009, Hammerdorfer had a team out in the field in Ethiopia testing the market for irrigation pumps and motors, and this year a team will go to Ethiopia to develop an organic nitrogen venture.

“They’re not just building a venture in the classroom; they’re taking the venture out to the field and to the customer and the market,” he said. “That requires a pretty extensive amount of entrepreneurship training, cross-cultural management training and managing highly effective teams training.”

Hammerdorfer said the program tends to attract and recruit social and economic entrepreneurs that have spent some time working on environmental, poverty or social and economic issues in the Third World. Early on in the program, a majority of students were returned Peace Corps volunteers, engineers, and people that had worked in environmental non-government organizations – not really people from industry. But that is changing.

“Each cohort has attracted an increasing number of business students,” he said.

“And what I’m seeing happening is a convergence of sorts. Sustainability used to be the domain largely of the hard sciences and social sciences, and businesses now have woken up and embraced it.”

As far as students’ career aspirations, some are interested in going the traditional

Q&A:

corporate route, working for a Fortune 500 company, but that is really a minority, he said. The program has only graduated 45 students, so there isn’t a lot of data, but the biggest landing spot for GSSE students seems to be in the entrepreneurship realm.

“I recently met with a student who graduated a year-and-a-half ago and is continuing to develop a motor and irrigation pump set that he thinks he can sell to several hundred million small farmers around the world. I have another group of students who launched a company called Panda Bicycles who are building bicycles out of bamboo. A couple other recent grads are in Kenya now developing an in-home water filtration system and are already selling it,” said Hammerdorfer. “In each case, these students want to make money and the beauty of their products is that they are triple-bottom-line products – they have a financial bottom line, an environmental bottom line and a social bottom line.”

Regardless of the specific graduate business school curriculum and degree offerings that have cropped up in the last decade, the opinion of business school faculty and administrators is that this shift in business education is permanent.

“Things have changed, and they aren’t small things and they aren’t likely to change back. We see it as a permanent change in the context of how business will be conducted in the U.S. and globally.

Therefore, we need permanent changes in how business education is going to be affected,” said Dean Miciak. “We really see this is as a future thing. It’s not here, it’s not done – it’s still being defined and it’s still unfolding.”

Beta Gamma Sigma recently spoke with Ellen Weinreb, founder of Sustainability Recruiting - a company dedicated to fulfilling the hiring needs of socially responsible businesses. The following are excerpts from that conversation.

BGS: How are sustainability jobs changing?

Ellen Weinreb: It’s getting more towards to the c-level, closer in that direction. The position itself is getting a promotion in general.

BGS: Why? EW: The companies are seeing that it is very strategic to be responsible for their own corporation and that it’s affecting all parts of the business.

BGS: What types of candidates are companies looking for? What do they need to know?

EW: Somebody who understands sustainability from the inside is really required. Also, somebody who understands the players – the organizations, the leaders, the books, authors and thought leaders – somebody who’s just built something internally within a company. That’s largely what these roles are doing, they’re building something new. Getting buy-in from all aspects of the company and understanding how to work with the resistance, because there is resistance.

Companies don’t have minds of their own. They could say this company believes in sustainability, but that doesn’t mean that

everybody there believes. The CFO, the general counsel, might have a lot of questions about it. So you need to build support from within. Understanding how to work with the politics and how to grow something and how to make it successful is really important.

BGS: What advice do you have for job seekers?

EW: If you are new to the area, I suggest taking courses and understanding specific issues to narrow your expertise and your interests. If you’re just interested in sustainability, that is too broad, so it is important to narrow the interest. Also the corporate experience for these corporate sustainability jobs is absolutely required. A lot of these jobs are actually filled internally. To be part of a green team or start a green team within your company is a really good step if you’re currently employed.

Sustainability from the Ground Up

By: Seth Treptow BGS Communications Director

R

egardless of the industry, sustainability is a term that continues to grow in importance within the business world. The concept, along with its triple bottom line of planet, people and profit, has been building steam within the new economy. Companies large and small have heeded the call to increase environmental and social stewardship while also maximizing profit margins.

This shift in corporate mentality has brought with it a shift in building practices.

More and more, companies investing in capital projects – new buildings, expansions, renovations or modernization – are incorporating sustainable concepts into their construction plans.

“It’s kind of a ripple effect,” explained Thomas Taylor, vice president and general manager of Vertegy, a full-service sustainability consulting firm. “As industry leans (more) towards sustainability, the more it affects the design and construction industry and what we are expected to deliver.”

This ripple effect is picking up speed. In recent years, the level of corporate involvement in sustainable construction efforts has increased steadily. According to the 2009 “Greening of Corporate America” study conducted by the Building Technologies Division of Siemens Industy, Inc. and McGraw-Hill Construction, 21 percent of firms responding reported at least 60 percent of their building portfolio was green. That’s up from 2006, when only 10 percent of respondents reported a 60 percent or higher green building portfolio. According to many experts, the trend will continue upward, and by 2012, the number of firms reporting 60 percent or higher green building is expected to increase to 42 percent.

Remarkably, this growth in sustainable building comes during a downturn in overall new construction. Since 2005, the market share of green projects has increased from only 2 percent of new construction – a $10 billion value – to 15-20 percent of new construction – a $36 to $40 billion value – in 2008.

And there is legitimate reason to believe this shift towards sustainable construction may be good for business and ultimately the bottom line. A 2008 study conducted by the U.S. General Services Administration found that in addition to emitting 33 percent less greenhouse gas compared to the national average, sustainably designed buildings consume 26 percent less energy and have 13 percent lower maintenance costs. As an added bonus, the study found that occupants of sustainably designed buildings reported a 27 percent higher rate of satisfaction.

“Each building is unique,” said Taylor. “Depending upon what an owner chooses to focus on – as far as what’s important to them and their building – it’s going to

Corporate Involvement in Sustainable Building Over Time Source: Building Technolgies Division of Siemens Industry, Inc. and McGraw-Hill Construction, 2009

42% 36%

2010

2009

2008

2012 (projected)

21% 17%

2011 (projected)

30%

Companies Largely or Fully Dedicated to Green Building (Companies reporting at least 60 percent of their building portfolio as green)

determine what the benefit is and what the payback will be.”

According to the “Greening of Corporate America” study, energy savings appear to be the primary driver for the business world’s sustainability efforts. A full 91 percent of participants in the Siemens and McGraw-Hill study cited energy savings, while 71 percent of participants said they expected to realize additional cost savings as a result of their efforts.

However, a growing number of firms now see sustainability as a source of revenue in addition to a means of cutting expenses. More than half (56 percent) of the companies participating in the study said they provide sustainability related products or services to clients.

One company that has followed this trend is Vertegy.

“A lot of clients don’t really understand the impact of sustainability,” said Taylor. “We’ve been through it.

We live it. We’ve done it with our own building.”

A subsidiary of St. Louis-based Alberici Enterprises, Vertegy was founded following the construction of Alberici’s corporate headquarters. Converted from a 50-year-old manufacturing facility atop a brownfield site, the building has been recognized as one of the most sustainable office spaces in the world. It was awarded LEED Platinum certification from the U.S. Green Builders Council, as well as various green design and construction awards.

Completed in 2004, the building incorporates a variety of features that are both environmentally and economically friendly.

“There are lots of things that people might notice, and there’s lots of stuff that people wouldn’t notice at all that adds to the building’s sustainability,” explained Taylor. “The types of paints we use, the types of caulk, the types of adhesives that were used in the building, the way we use drywall with a high amount of recycled content – those types of things people don’t see.”

Among the hidden features of the building is an innovative system that collects and stores rainwater runoff from the building’s roof in a 38,000 Continued on Next Page

bgs international exchange Spring 2010 www.betagammasigma.org 9

“It’s kind of a ripple effect. As industry leans (more) towards sustainability, the more it affects the design and construction industry and what we are expected to deliver.”

Thomas Taylor General Manager, Vertegy

Sustainability from the Ground Up (continued from page 9)

gallon cistern. The water is then treated and used for sewage conveyance, saving nearly 150,000 gallons of potable water per year.

The bathrooms don’t seem different than any other, but they are.

“You wouldn’t notice them as being different from any other bathroom in a commercial building,” said Taylor. “Unless someone told you, you wouldn’t know that to flush the toilets and urinals, it is all using rainwater instead of water from a municipal supply.”

Among the more noticeable features of the property are retention ponds to capture and hold storm water runoff; solar panels that accommodate the building’s hot water needs; the addition of a saw-tooth patterned wall of offices that allows for a southfacing orientation; operable windows that allow for efficient comfort and ventilation during free cooling seasons; and a wind turbine capable of generating 20 percent of the building’s energy needs.

All totaled, the Alberici headquarters is 60 percent more energy efficient than a conventional building. The company estimates that the additional investments required to provide that level of efficiency will pay for themselves in less than eight years.

In terms of the project’s total expense, Taylor said the construction costs were comparable to those of traditional non-sustainable buildings.

“In our case, the financing for the project was locked in and established before the decision to go green was even made. The budget was based upon a traditional construction,” he said. “That was the budget we had to deliver it for, even after they had made the decision to go for a LEED Platinum building. That decision was made before any true design was started.”

One factor that can inflate the cost of sustainable construction efforts is

Motorized operable windows allow for cooling, reducing energy use.

A weather station tells the building management system when to automatically open windows for natural ventilation.

timing. Companies considering the implementation of sustainable innovations within their new constructions are best served by incorporating those ideas early on in the design process.

“If it hasn’t been put in the planning process, if it hasn’t been incorporated into the construction documents, then the alternatives that might be offered in order to bring that sustainability to them is really going to be additive,” said Taylor.

“The size of a change can be very large and if it’s done very early in the process it has almost no monetary impact. As you move through the construction phase, even a minor change has a major cost impact.”

Regardless, as Taylor asserted, when brought to the table early in the process, “sustainability doesn’t have to cost any more.”

Low-e glass provides low solar heat gain and low visual transmittance, while bringing in abundant natural light and saving energy at the same time.

Solar panels provide 90% of the building’s hot water heating needs.

Garage parking eliminates the need for surface parking lots.

Highly reflective white roof membrane keeps the heat out.

Well-insulated roof, skin and glazing keep the building protected against the extremes.

20% of energy needs provided by wind turbine.

Sunshades block out sun, keeping interiors cool.

Retention ponds hold all stormwater runoff.

Manually operable windows allow for occupant comfort during free cooling seasons.

10 bgs international exchange Spring 2010 www.betagammasigma.org

Windows take in direct sun on the south side of building.

The angle of the saw-toothed additions allow for a true South building orientation.

More than a Paycheck

BGS Inductees Expect More from Employers In the summer of 2009, Beta Gamma Sigma surveyed the Society’s recent junior-level inductees to gauge their viewpoints and opinions on a variety of topics. Included within the survey were questions related to environmental policy, corporate social responsibiltiy and ethical business behavior.

The following are some survey highlights: Environmental Policy • Nearly nine out of 10 participants (88 percent) think business organizations should consider social and environmental responsibilities when making business decisions.

• 14 percent of respondents said it was very important for their employer to have a stated, clear set of “green” or environmental standards; 50 percent considered it as somewhat important.

Corporate Social Responsibility (CSR)

Would you consider accepting a position with significantly lower salary in order to work for a company that practices good CSR and ethical business conduct?

No 38%

Of those that answered yes, how much less salary would you consider taking to work for an ethical company?

Yes 62%

• 68 percent of participants reported that it is not enough for companies to be legally compliant.

• 67 percent disagreed that CSR distracts from the fundamental economic role of business – profit.

$1,000 - 4,999

44%

$5,000 - 9,999

40%

$10,000 - 14,999

9%

$15,000 - 19,999

4%

$20,000 or more

3%

• 62 percent were willing to take a significantly lower salary in order to work for a company that practices CSR and conducts itself ethically.

• Respondents saw the following as benefits of adopting CSR: “It can help maintain the company’s valuable reputation with employees, customers, and other businesses” (91 percent); “it can help differentiate the company in a competitive market” (78 percent); “it can aid in the recruitment and retention of quality employees” (66 percent).

Ethical Business • Over half (53 percent) of students surveyed regard a company’s “ethical leadership” record as very important when considering a future position with a company.

As a member of Beta Gamma Sigma, you are part of a global network of business leaders and high achievers.

connect with

Beta Gamma Sigma online.

• Regarding the most important attributes of an ethical leader, the following were most highly rated by respondents: “Honest and fair” (83 percent); “able to lead by example” (63 percent); “appreciates and respects differences” (34 percent); and “has knowledge to judge and act prudently” (34 percent).

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• 83 percent of respondents either moderately agree or strongly agree that they would “blow the whistle” on their own organization if they witnessed a terrible ethical breach.

Join the Society’s group of over 18,000 members www.betagammasigma.org/linkedin

• 66 percent believed that the ethical business climate in the United States has improved since the Enron and WorldCom debacles.

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

LinkedIn Twitter

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

bgs international exchange Spring 2010 www.betagammasigma.org 11

Gifts from Friends

GENEROUS DONORS SUPPORTING BETA GAMMA SIGMA January 16, 2009 through January 15, 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.

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Northeastern University Charles D. Baker Thomas P. Brady James M. Fowler William F. Krock Baker A. Smith Northern Arizona University James O Carnes Daniel F. Stortz Northern Illinois University Denis M. Desmond Michael E. Marciniak Northwestern University Melvin S. Adess Rudolf Carl Charles R. Enever Kurt L. Janavitz Elaine J. Ksander Edward C. Messinger Brian J. Schaenzer John S. Thode University of Notre Dame Charles B. Ammann Dennis C. McInerney Leo V. Ryan Thomas S. Taylor The Ohio State University John R. Ervin Barry S. Feldman John F. Flowers Stephen E. Houck Charles R. Kinskey James G. McMillan Press C. Southworth University of Oklahoma T. ‘Chuck’ Doyle Michael F. Farren Robert Hamilton Robert E. Robertson Sandy Harland Singleton Elizabeth K. Willard Oklahoma State University Paul A. Porter Old Dominion University Edward B. Bricka David W. Green University of Oregon James C. Lynch Kevin W. O’Neill Thomas M. Swain Oregon State University Lea Ann Hart-Chambers Pace University Eric P. Szekrenyessy University of Pennsylvania George Akel William R. Asher Michael F.. Barry Michael S. Blechman Anthony J. deLeon Frank M. Hatheway Edward R. Koch William V. Ledford Thomas L. Markl Lawrence J. Marks Robert C. Nevin

The Pennsylvania State University John T. Fogarty James B. Miller Paul H. Yeagle The Pennsylvania State University, The Capital College Susan E. Gregg Pepperdine University Thomas Dudley University of Pittsburgh William H. Alexander Richard D. Hopkins Edward W. Kay John C. Lauchnor Donald H. Peters Richard S. Pizzedaz University of Portland Craig Christenson Portland State University Arthur G. Buck Purdue University Robert G. Gibson Allen R. Merriman Andrew D. Ortstadt University of Rhode Island Sean P. McKenna James A. Viehland University of Richmond Hector Alonso John D. Robbins Robert S. Ukrop Rider University Karol N. Tariska Robert Schimek University of Rochester Ramachandra Bhagavatula Christine M. Palamone Paul R. Ratoff Bruce H. Watkins Rollins College David M. Currie Roosevelt University Clara Uche Awe Jacqueline J. Goldberg James F. O’Bert Rutgers- The State University of New Jersey Ward C. Bourn Michael T. Bucci Leslie E. Goodman Sanjay V. Mirpuri Debra A. Purfield St. John’s University James F. Giordano Christopher A. Pappas William A. Rabl Lorenzo T. Vanore Anne R. Wennington Saint Joseph’s University Mary Lou Quinlan Saint Louis University Ellen Harshman Arthur L. Meyer Salisbury University Laura Lee Dean

San Diego State University Victoria E.J. Condos Katherine R. Janes Carla M. Kuhns Gene A. Lynes Charles M. Medvitz University of San Francisco George W. Parkerson Louise Chee Ping Wong San Francisco State University Chris E. Kovach Wesley R. Petit San Jose State University Dave L. Coles Kam S. Lam Santa Clara University Jane G. Evans John Fabbro David W. Gervais Anthony J. McKeon Leslie Ann Roberts Savannah State University Michelle Compton Seattle University Bruce E. Eliasen Terrence C. Kabanuck Shippensburg University Marie R. McDonald Michael A. McGinnis University of South Carolina Travis A. Heneveld Donald K. Murphy Harold P. Pruitt Bjorn B. Thaler University of South Dakota Amy L. Caffrey Bruns Charles A. Jacob University of South Florida Loretta S. Loftus University of Southern California Arnold G. Anisgarten Robert S. Brezovec Edward M. Casselman Steven D. Crowe Jay H. Grodin Penny Whitcomb Halgren Terrence O. Hughes Brigitte E. McBride John S. Patton Roseanna L. Purzycki Robert L. Rodriguez Jason White Southern Illinois University Carbondale Roy A. Causey Southern Illinois University Edwardsville Arnold G. Franke Leon Kaplan Robert E. Leckrone James A. Morrell Sandra G. Noe Mildred L. Willmont

Southern Methodist University Robert W. Calloway Gary E. Fish Robert E. Henderson Christopher C. Loy William O. Morriss Stephen F. Austin State University Shannon E. Dunbar Oliver Christopher Simard Craig G. Townsend Suffolk University Susan O. Olivier Susquehanna University Raymond C. Lauver Syracuse University Gustav J. Braun Richard A. Frank, Jr. Frederick H. Weeks The University of Tampa Janette R. McDugald Temple University David L. Balint Daniel R. Burkus Arnold Glaberson Arnold J. Hoffman James R. Krouse Gary Mozenter Philip D. Weinstock John W. Wilchek University of Tennessee at Knoxville R. Gale Manley The University of Texas at Arlington Mark C. Hensel Jr. Susan M. Williams The University of Texas at Austin Donald R. Broadland Donald G. Calhoun Donelson M. Houseman Susan Bonner Mead Owen R. Messenger Myron H. Newman Glen A. Rosenbaum Carol A. Shepherd The University of Texas at San Antonio Deborah A. Pool Cynthia A. Schweers The University of Texas at Tyler Billy G. Hartley Jack L. Phillips Cadmus Williams Texas A&M University David E. Hairston John P. Hearn Texas Christian University David E. Bell Janeen M. Lamkin Texas Tech University Coburn A. Buxton Barbara A. Frankhouser Gene H. Johnson

Thunderbird School of Global Management Slobodan Jaksic University of Toledo Robert E. Hansen Borge R. Reimer Susan A. Smotherman Tulane University Charles J. Marsman Rhett L. Weiss University of Tulsa Jackie D. Loertcher Nancy B. Quigg-Young University of Utah Francis A. Madsen Jr. Robyn L. Ragsdale Utah State University Danette M. Taggart McGilvray Valdosta State University W. Ed Crane Jeana F. Beeland Vanderbilt University David H. Windley A. J. Kazimi Villanova University Richard P. Caporaso University of Virginia Stephen C. Adams David E. Houseman Anne B.L. Stone George C. Williams Jr. Thomas H. Wilson Virginia Commonwealth University Vernon A. Querstein Mark P. Vergnano Virginia Polytechnic Institute and State University James A. Hixon Edward M. Mazze James E. Pearman Jr. John E. Wilson University of Washington Philip R. Bogue Gerald W. Christensen Lorin H. Wilson Washington and Lee University Reid T. Campbell Robert C. Gammon

Washington University Clarence E. Darnton Frank E. De Pauli Whitney D. Erickson Howard E. Lovely Rowland Ricketts Jr. John K. Wallace Stephen Waltman Bernard W. Weitzman Wayne State University Paul A. Glantz Debra L. Bernstein Richard M. Hillbom Mark D. Schmidt Gustaf A. Stinstrom University of West Georgia Robert J. Stone West Virginia University Richard M. Gardner Russell L. Isaacs Western Michigan University Sandra M. Gores Quenten T. Wilber Western Washington University Wenderly J. Porterfield Wichita State University Barbara G. Zody Widener University Liliane E. Miniscloux-Yoos College of William and Mary Walter D. Brickman Hays T. Watkins University of Wisconsin-Madison Bruce R. Ellig James Fetek David Geraldson Daniel L. Goelzer Richard J. Howell Kimberly K. Peterson Anton T. Vanek University of Wisconsin-Oshkosh Sharon F. Alferi Larry R. Koeppen Wright State University William M. McCullough, Jr. University of Wyoming Margaret H. Williamson Youngstown State University Kristin B. Hawkins

Matching Contributors Aetna Foundation Joseph T. Doyle John C. Lang Cathy J. Wilton AIG Joseph E. Amicucci Graceann Laforgia American Multi-Cinema, Inc. Janet Buttery Amsted Industries Foundation Marilyn Franson Aon Foundation Robert Boumann AXA Foundation Jay Johnston Anton T. Vanek, Jr. Bristol-Myers Squibb Foundation Joseph C. Hriso Clarkston Consulting Marie McDonald The Duke Energy Foundation Stephen P. Schultz First Horizon Foundation Robert Dugan GE Foundation James Nuttall Laura Salma Deborah Wight Donald Wrhel Houghton Mifflin Harcourt Thomas E. Deming Diane McGinn Merrill Lynch & Company Foundation, Inc. Julia Peloso Microsoft Mark Theissen Monsanto Fund James Morell Morgan Stanley Paul Baeske Pfizer Foundation Cynthia Holway E. Thomas Thurber Denise Wakim Toys”R”Us Children’s Fund Bruce Fishstein The UPS Foundation Dennis Arneson Verizon Foundation Stanley Kuenn Arthur Schmidt Wachovia Foundation Virginia K. Simons

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Corporate Sustainability How Going Green can be Good for Business