MUSTANG BUSINESS JOURNAL VOLUME II, ISSUE II
10
BEST
Business Books
by Maggi Cerutti
John
OFENLOCH by Katie Stumbo
Mindfulness by Allison Catalani Dallas Jobs & Economy by Ben Newcome
WELCOME Shane Goodwin by Kelsey Martin
HOW TO
NETWORK & INTERVIEW
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IN THIS ISSUE
VOLUME II, ISSUE II 2 Letter from the Editor by Katie Stumbo 3 Welcome Shane Goodwin by Kelsey Martin 7 Alumni Advice 10 Featured Alumni: John Ofenloch by Katie Stumbo 13 My Path to an Internship: Balaji Venkatachalam by Maggi Cerutti 16 Beyond Tex-Mex by John Sampognaro 17 Ten Best Business Books by Maggi Cerutti 19 Dallas Jobs & Economy by Ben Newcome 21 Mindfulness by Allison Catalani 24 Cox Hacks 25 BLC Update by Kate Hoedebeck Nonprofit Consulting Program Top Ten Seminars Attended Last Year 27 Guess the Mustang 29 Club Spotlight Net Impact Finance Club Cox Christian Fellowship Energy Club 33 Cox Travels Energy Trek & Energy Finance Case Competition by Stephen Loughren Marketing Club Fall Trek & National Black MBA Association by Jordan Tylutki 37 Discovering Dallas by Kelsey Martin & Anirban Bhaumik 39 Our Team On the cover: Shane Goodwin, Associate Dean of Cox School of Business
LETTER FROM THE EDITOR Fellow MBAs, Thank you to the students, alumni and staff who contributed their creativity and advice to this issue of the Mustang Business Journal. It is a joy to work with each of you and create a magazine catered towards the life of an MBA student. This issue is focused on one of the sharpest of MBA pain points: finding an internship or full time job. The recruiting process can seem like an agility maze aimed to test and push your abilities to a breaking point. We hope the advice of our contributors will shine light on your way. Good luck everyone! We believe in you. Sincerly, Katie Stumbo MUSTANG BUSINESS JOURNAL VOLUME II, ISSUE II
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INTRODUCTIONS
WELCOME Shane Goodwin By: Kelsey Martin, FTMBA 2019
A new face on campus this fall is Shane Goodwin, PhD, Associate Dean and Professor of Finance. Get to know Dr. Goodwin and his plans for bringing a unique perspective and measurable objectives to SMU Cox.
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INTRODUCTIONS
PROVEN SUCCESSES Dr. Goodwin has 25 years of experience in various investment banking roles including M&A, corporate finance, and shareholder activism engagement. “For someone who loves to solve problems from the strategic level and, more importantly, execute a financial solution, it was a perfect job for me,” he said. While investment banking is a very challenging career with hectic travel schedules and demanding clients, he found it to be very rewarding. His experiences led him to start teaching seven years ago at The University of Texas at Dallas as an adjunct professor, as well as teaching an M&A course at Harvard. This foray into academia continued as he finished a PhD in finance, which Dr. Goodwin attributes to the changes in the shareholder activism landscape and his desire to disrupt the anecdotal conversations in the community with lawyers and bankers, advancing the debate with data and predictive analytics. A Financial Economics postdoctoral fellowship at Harvard Business School resulted in a departure from the corporate world. After a two-year stint at Columbia Business School leading a shareholder activism and engaged investor initiative that resulted in the launch of the Applied Corporate Governance Institute, Dr. Goodwin relocated to Texas for his current position at SMUCox School of Business.
PLANS FOR COX Leveraging his professional and academic leadership experiences, Dr. Goodwin has strategic plans to enhance the Cox MBA experience and equip students to be future business leaders. He shares the opinion with professors like Al Niemi and Harvey Rosenblum that Dallas is a booming business climate and a center of excellence for universities. “When you look at Dallas, we need a world-class business school,” he said. His plan to ensure a world-class experience includes 20 various initiatives, and he shared details regarding a few of them. One initiative is to enhance corporate connectivity. Not only is Dallas becoming a top location for Fortune 500 companies, but also middle and small market companies, and new venture capital opportunities. Together, these present a rich landscape to build relationships and careers in the Cox backyard. Another initiative is to examine the Cox curriculum, with a focus leadership, analytics, and experiential learning. These priorities are intended to enhance the coursework offered and bridge the gap between the classroom and the corporate office. Courses will include more consulting project opportunities, allowing students to leverage corporate partnerships in the Dallas community and around the world. “Our objective is not only to ensure students develop the required ‘hard skills’ employers expect, but to develop further the critical ‘soft skills’ the business MUSTANG BUSINESS JOURNAL VOLUME II, ISSUE II
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INTRODUCTIONS community requires for success. These skills include complex problem solving, critical thinking, adaptability, and business judgment among others. Through our experiential learning projects, we will provide our students the opportunity to develop those skills.” Culture is also important to Dr. Goodwin. With input from faculty, students, alumni and other groups, one question being asked is, “What does it mean to be a Cox alum?” This initiative will explore what culture looks like for current students, as well as what Cox is known for in the marketplace. “You want your currency later in life to be worth something. You want to be proud of what you’ve done – to say, ‘I’m a Cox grad,’” he said. This is more of a long-term strategy to fully understand the Cox experience and create the right programs and continue building the Cox brand. And for those of us wondering when or if the Cox buildings may be renovated, don’t worry. There is a plan in place for that, too.
PROFESSIONAL SUCCESS TIPS This issue of the Journal is focused on networking and recruiting, so we asked Dr. Goodwin for a few quick tips to share with students going through this process. One is simple: attitude. While many things in life cannot be controlled, attitudes can be. As he says, “We all have the ability to show up with an optimistic attitude and desire to win, and to have a positive impact on others.” Based on Dr. Goodwin’s experiences as a hiring manager, he assures that people enjoy working with others they like, and that attitude goes a long way. He also mentioned something that former Dr Pepper CMO Marty Allen said during Orientation Week to first-year students, “There is one thing we all have in common: 168. There are 168 hours in a week. What are you doing in those hours to accomplish what you want?” We thank Dr. Goodwin for his time and look forward to seeing his initiatives take shape on campus and in our future careers.
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INTRODUCTIONS
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FEATURED ALUMNI
Alumni Advice SMU MBA Graduates give expert advice on how to network, interview, and land your first job.
Meghali Parashar
PwC Management Consulting Senior Associate SMU MBA 2017, Strategy, Business Analytics, & Marketing Network with everyone - try to connect over a coffee or a phone call. Be open to all kind of work opportunities but choose a job where you actually fit in. Don’t hesitate to reach out to your seniors and school for guidance. Be yourself, be helpful, and don’t forget to enjoy your MBA.
Ross Kinnaird
7-Eleven Senior Analyst, Digital Marketing SMU MBA 2018, Marketing & Strategy My advice for the marketing job search is to focus on two areas: building hard quantitative analytical skills and relationship-based networking. Look at job boards in marketing right now and what you’ll likely find is more and more positions requiring hard technical skills (Alteryx, SQL, Advanced Excel, R), especially as businesses become more digital and look for folks that can produce insights and learnings to help in areas like paid media, acquisition, retention/ loyalty, and even data analysis or consumer insights. The other piece is building authentic connections with people at the companies you want to work for. Just focus on learning about their business and if you really show genuine interest in wanting to work there after learning about the company, it’s possible that person may help when openings at their company arise.
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FEATURED ALUMNI
Sarah Caldwell
ExxonMobil Financial Analyst SMU MBA 2018, Finance It sounds cheesy and too simple, but be yourself. Demonstrating genuine interest and curiosity goes a long way - remember they’re looking not only for someone to crunch the numbers, but also someone they want to spend half their day with. Fit is key at the end of the day, not just for the employer, but for you as well. I’ve always hated the word ‘networking’; to me it implies an activity where individuals are seeking out one another solely based on ‘what they can get out of it and from whom.’ I’ve always had the best response when I approached networking as just another way to meet different people that I can learn from. The opportunities will come to you when you’re being your authentic self and demonstrating genuine interest and curiosity.
Marshall Bailey Goldman Sachs Analyst SMU MBA 2017, Finance
Networking is key for business school students when pursuing fields of interest and also uncovering new opportunities they otherwise wouldn’t have known. Never shy away from reaching out to alumni or influential people, but do your best to make the interaction as meaningful as possible and alway follow up with a thank you.
Stephanie Rowe
Toyota North America Senior Analyst, Residual Value SMU MBA 2017, Business Analytics & Strategy One of my best interviewing practices is to research a company’s main pain points/challenges ahead of time, and be prepared to ask questions about them. What issues are keeping their managers up at night? When you ask your interviewer a question that is highly relevant for their particular industry/company, you clearly demonstrate a sincere interest in working for that company.
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“Life doesn’t always present you with the perfect opportunity at the perfect time… Opportunities, the good ones, they’re messy and confusing and hard to recognize. They’re risky. They challenge you.” Susan Wojcicki, CEO of YouTube
FEATURED ALUMNI
John Ofenloch President & CEO of Ranger Wireless Solutions By: Katie Stumbo, FTMBA 2019
T
he first five years after graduating with a MBA, I got a lot of lectures from my dad. He came from that generation where you work at the same firm until you retire.” John Ofenloch’s career path could not be more different. Since graduating from SMU’s MBA program 20 years ago, he has worked in a wide variety of companies in the telecommunications industry, leading through mergers, bankruptcy, going public, and growth. No carefully articulated five or ten-year plan could have predicted where he landed after graduation, and no amount of business courses could teach lessons learned from years of experience in the ups and downs of business.
It could be said that Ofenloch has an itch for the new venture. One of his first jobs after graduation was for the internet start-up company, Flashnet. He moved from a solid corporate job in financial planning, leaving friends and family bewildered as he joined the new world of the .com boom. His confidence paid off. He was the director of finance and the head of investor relations when the company went public. He received excited calls from investors as the company grew and flourished. Months later, the calls turned sour. Along with many other internet startups of the mid-nineties, Flashnet went under. Not long after, Ofenloch’s wife received an offer for a job in Miami. Through connections, he received an offer to work in the
finance department of a telecommunications firm. Once he started, it became clear to him that the Miami office was more of a showroom than a production center. Six months after moving to Florida, the senior management team was fired, and Ofenloch was moved up to corporate leadership. He was managing a finance department just a few years after graduate school. Eventually, the entire business was moved from Miami to Detroit in order to increase productivity in manufacturing. Unfortunately, the move to Detroit wasn’t enough to save the company. Within a year of the move, he helped the company navigate chapter 11 bankruptcy. I asked Ofenloch what it was like to go through this process. “I am an optimist,” he said,
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FEATURED ALUMNI “so I look at it as a learning opportunity. There are a wide range of things that can happen. Regardless of whether things are bad or good, I tend not to be reactive.” Ofenloch moved back to Dallas and joined CXO, a consulting company for interim management and restructuring that was led entirely by consultants who had spent time as CFOs, CEOs, COOs, etc. It was hands-on work. They did not simply fix the balance sheet, they asked tough questions and looked through contracts to fix the problem. All of their work came from word of mouth. There was no office, no tech support team, and no website. However, they had the freedom to make a difference in the companies they worked for and to pursue their preferred clients. At CXO, Ofenloch leveraged his experiences to help other companies avoid the same setbacks and succeed. Eventually, CXO was purchased by FTI Consulting. One of his positions during this time was a senior management role at CAH, a telecommunications
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holding company out of US Virgin Islands. At times he commuted Sunday through Friday from Dallas, successfully learning the unique island work culture and the challenges of acquiring and retaining talent in a remote location. After a few years, Ofenloch was asked to start doing more traditional consulting roles. While he enjoyed the company and opportunity, he was no longer able to make the same difference in the businesses as he had before. One day at the gym, Ofenloch met a man that worked for Satori Capital, a unique venture capital firm. They are founded on the ideals of conscious capitalism and look for companies to invest in as a partnership, not as just another investment firm writing a check. Each company is sustainable; they support creating value for others and a positive business ecosystem, which leads to higher growth, less risk, and better positioning for innovation. Satori Capital believes culture and company are deeply interlinked and each partner is
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experienced in running a business, so clients can expect support with an emphasis on long-term value over short-term profits. Ofenloch and Satori Capital began a partnership shortly thereafter. With Ofenloch’s
extensive background in leading telecommunications businesses, he is well positioned to evaluate new investments. After two years of searching, Satori Capital invested in
FEATURED ALUMNI Ranger Wireless Solutions and asked John Ofenloch to be the new CEO. Ofenloch continues to run Ranger Wireless Solutions and currently offices in the modern space of Satori Capital with vast views of the
downtown Dallas skyline. Since taking over Ranger Wireless Solutions, Satori Capital has invested in other telecommunications companies and are looking to acquire more.
After managing so many businesses, seeing their problems, and creating solutions, Ofenloch noticed patterns in those that failed. “The biggest issue is when people get complacent. They do not want to re-evaluate
things,” he told me. Each year at Satori Capital, they revisit the questions they asked companies they invested in the beginning. “We revisit, constantly questioning
and learning. Most of the companies that go into trouble did not continue to evolve and ask questions.” I asked Ofenloch how he likes his current role with Satori Capital and Ranger Wireless Solutions. Without hesitation, he said, “I love it. There is a lot of opportunity here and people you can rely on. I also have flexibility; if I do not like something, I can change it and make it what I want it to be.” For many MBAs, the ultimate goal is to become a CEO, but the last thing any of us want in our careers is to encounter business closure, corrupt management, and bankruptcy. After speaking with John Ofenloch, I argue that we should all embrace uncertainty. For him, early career hurdles led to exceptional opportunities and successes. We should seek out the best learning opportunities, regardless of whether they are in our 10-year plan.
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STUDENT SPOTLIGHT
MY PATH TO AN INTERNSHIP Second year Full-Time MBA student and Summer Associate at PwC, Balaj Venkatachalam recalls the recruiting process as an international student. By: Maggi Cerutti, FTMBA 2019
When I asked Balaji Venkatachalam to talk to me about his path to finding an internship, he immediately grabbed for an Expo marker and headed to the whiteboard. “This will be easier for you to understand if you have a visual.” As he drew several color-coded diagrams on the board in front of me, I immediately understood why he chose consulting as his career path. Balaji, a native of India and a 2nd year MBA student, took finding an internship seriously from the minute his MBA began. “That’s why I was so serious all the time,” he said jokingly. “Because I knew that as an International Student, you automatically have a smaller pool of positions to apply for. Every contact,
coffee chat, information session, and interview counted.” Balaji explained that there are a finite amount of work permits available to international students based on their country of origin. For example, the number of Indian students issued work permits may differ from the number of Chinese students issued work permits. As a rule, each international student is granted a 1-year work permit after graduation. Balaji, however, will be granted a 3-year work permit upon graduation. “It’s because I am majoring in Business Analytics at SMU. SMU is one of the few MBA programs that offers STEM extensions.” I asked him if this is one of the reasons he chose to go to SMU.
“Actually no,” he laughed, “I had no idea!” Even with the extension, Balaji still found that his employment options were limited. “I found that companies fall into three main categories: companies who won’t accept international students at all, companies who will only accept international students with the STEM extension, and companies who will accept international students regardless, which are few.” And how did he know which category companies fell into? “I looked at their history of hiring international students, which I found from the CMC and 2nd years. I never wanted to waste my time pursuing a company that didn’t hire international
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STUDENT SPOTLIGHT students.” Given this information, Balaji hit the ground running in August. Interested in pursuing a career in either Marketing or Consulting, he began attending information sessions, talking with the CMC, and networking with peers in order to gain company contacts. He set up as many coffee chats and lunches with these contacts as he could, establishing relationships to help him throughout the recruitment process. As soon as formal recruitment began on campus, he ramped up his efforts even further. “I would follow up with anyone I talked to,
schedule even more coffee chats, and take advantage of events like case prep workshops. I would also tailor my resume and cover letter to information I learned during these events.” Throughout this time, he
“Every contact, coffee chat, information session, and interview counted.”
was assiduously practicing behavioral and technical interviewing techniques. “As an international student, it is more likely that you will have less interviews than your peers, purely because less companies hire international students. As a result, you must make sure that you are nailing each interview. I never went into an interview with the mentality that I was just going to ‘wing it’.” Because of his efforts, Balaji landed an internship with PwC in consulting. “Once I got my internship, I was able to relax. For me, the up-front effort I put in was definitely worth it.”
BUSINESS TODAY
Beyond Tex-Mex By: John Sampangnaro, FTMBA 2019
While delicious tacos and BBQ are enough to convince even the most skeptical of non-Texans to join us in DFW, the the Dallas Regional Chamber (DRC) attracts employeers strategically. The Adam Smith Society recently met with economists from the DRC to learn how they encourage companies to move to the area. With the DRC’s help, the metroplex has gained corporate headquarters of Toyota North America, Jacobs Engineering, Fluor, Kubota Tractor, L3 Technologies, Jet Suite, Smoothie King, and Top Golf using low taxes and business friendly policies in governing. Dallas has continued to succeed through continuous improvement and by using an entrepreneurial approach to policy making. Below are some key takeaways from our conversation with DRC representatives to understand what makes Dallas a dynamic business community. Along with appealing taxes and laws, it’s international airports and central location play a major role in convincing employers to call Dallas home. The DFW airport served over sixty-seven million passengers in 2017 and is the fourth busiest airport in the world. It is undoubtedly one of the region’s strongest comparative advantages. Dallas’ central location also allows trucks to reach 37% and 93% of the American population in twenty-four and forty-eight hours respectively, adding to the appeal.
The success is demonstrated through population growth, with Dallas as the highest in the nation and the seventh highest in GDP growth from 2014-2017. The DRC recognizes that it must attract business and talent to support the businesses in unison, so it also increases standard of living for the thousands of employees moving to Dallas for newly created jobs. As a result of these efforts, Dallas’ growth is impressive in comparison with the growth of the region as a whole. On top of this, Moody’s, a measure of economic diversity of metro divisions in the US, scored Dallas, Fort Worth, San Jose (Silicon Valley), San Francisco, and Seattle at .80, .65, .23, .55, and .6, respectively, showing both Dallas and Fort Worth as the highest due to the wide variety of industries represented in North Texas. A high score indicates that growth experienced in Dallas and Fort Worth will be more stable, and better correlated with growth in the national economy. What does this mean for us as Southern Methodist University MBA candidates? Not only do we have hope for a wide variety of jobs in DFW post-graduation, but employers also are likely to stay here. If the trend continues, new businesses will continue to move to Dallas, indicating a potentially higher job stability in the long run.
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BUSINESS TODAY
10 BEST BUSIN
By: Maggi Cerut
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“How to Win Friends & Influence People” by Dale Carnegie Read this if you... want to learn six ways to make people like you, twelve ways to win people to your way of thinking, nine ways to change people without arousing resentment, and more. “Think and Grow Rich!” by Napoleon Hill Read this if you... want to learn how to become a billionaire. Through tireless research, Napoleon Hill cracked the code on how to experience financial success. “The Art of Innovation” by Tom Kelley Read this if you... want to learn the secrets of fostering a culture and process of continuous innovation. “The Innovator’s Dilemma: The Revolutionary Book That Will Change the Way You Do Business” by Clayton M. Christensen Read this if you... want a set of rules for capitalizing on disruptive innovation. Steve Jobs used this book as an explanation for why Apple needed to embrace cloud computing. “Emotional Intelligence: Why It Can Matter More Than IQ” by Daniel Goleman Read this if you... want to learn the five crucial skills of emotional intelligence and how they determine the success of every aspect of your life. VOLUME II, ISSUE II MUSTANG BUSINESS JOURNAL
BUSINESS TODAY
NESS BOOKS
tti, FTMBA 2019
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“The 7 Habits of Highly Effective People” by Stephen R. Covey Read this if you... want to be inspired to create personal change.
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“The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success” by William N. Thorndike Read this if you... want to understand what makes a successful CEO. This was #1 on Warren Buffets recommended reading list in the Berkshire Hathaway Annual Shareholder Letter in 2012. “The Art of War” by Sun Tzu Read this if you... want to learn how to navigate office politics and corporate strategy from a 6th Century BC master. “Business Adventures” by John Brooks Read this if you... want to find out how several iconic companies were defined by a particular moment. Bill Gates claims this is the best business book he has ever read.
“The Intelligent Investor” by Benjamin Graham Read this if you... want to learn how to develop long-term strategies for investing. It has been the stock market bible since its publication in 1949. MUSTANG BUSINESS JOURNAL VOLUME II, ISSUE II
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BUSINESS TODAY
DALLAS JOBS & ECONOMY Positions are available, but what will you get paid? Ben Newcome researches the correlation between Dallas unemployment and income over time. By: Ben Newcome, FTMBA 2019
The midterm elections have passed, and every day I felt like I was constantly bombarded by political ads. Democrats and Republicans seem to always bicker over who is ruining the country, while the current president loves to talk about how great the economy is doing. One comment I keep hearing over and over again is that unemployment is at an all-time low. In September, the Bureau of Labor Statistics reported that National Unemployment Rate was at 3.7%, the lowest it has been since the 1960s. But as an MBA Student in Dallas, I can’t help but ask a somewhat self-indulgent question: what does that mean for me? On the surface, a low
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unemployment rate translates to good news, especially for a growth market like the DFW metroplex. Assuming the laws of supply and demand apply to the labor force, it’s not a stretch to correlate falling unemployment rates with rising wages. Using data obtained from the St. Louis Federal Reserve, we see this relationship exists for the Dallas-Fort Worth-Arlington MSA. The chart on the next page displays unemployment rates (red line) from 1990-2016 with the cumulative per capita income increases from 1990-2016, adjusted for inflation. Notice that as unemployment dropped from 1990 to 2000, per capita income increased more than 24%.
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Clearly, there exists an inverse relationship between unemployment rates and income. Great news, right? Maybe not. The data tells us that during the 1990s, unemployment in DFW dropped from 6.9% to 3.1% and wages grew by 24%. However, this pattern seems to be repeated in the 2000s with less than stellar results. The early 2000s saw the .com bubble burst along with the terrorist attacks on September 11th and subsequent wars in Afghanistan and Iraq. By 2003, unemployment in DFW hit 6.6%, eventually falling to 4.2% by 2007. If the 1990s are a baseline, then per capita income should have grown roughly 20% over this period. However,
BUSINESS TODAY cumulative wages per capita only rose to 30% by 2008, or net 6% from 2000 to 2008. It seems that wages increased, but not nearly at the same rate as the 1990s. This cycle repeats again after the Financial Crisis, with unemployment rates hitting a high of 8.1% by 2010, then dropping to 3.9% by 2016. Once again,
we would expect this dramatic drop in unemployment rates to be correlated with a roughly 20% increase in per capita wages, similar to the effect during the 1990s. But by 2016, wages had increased to 38% above 1990 levels, or an 8% increase from the 2008 level. So what does it all mean? If I had a DeLorean with
a Flux Capacitor, I would crank that bad boy up to 88 miles per hour and head back to 1992. But sadly, they no longer make DeLoreans and I have yet to crack the code on time travel. At this point I think it’s safe to assume that a low unemployment rate will lead to higher incomes over time, which is a good thing because May will be here before we know it!
1990-2018
UNEMPLOYMENT V.S. CUMULATIVE INCOME
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TIPS
MINDFULNESS OVERCOMING MBA STRESS By: Allison Catalani, FTMBA 2019
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TIPS Your mind IS your greatest asset. The root of who we are and what we want to become begins and ends with our minds. Your mind is going to be with you for your entire lifetime. Your mind will always provide positivity and an unconditional balance to your life. It’s just a matter of how to tap in and ignite our good vibes. Good vibes don’t always emerge on their own or stick around for long. I found this to be true during my first year as a Full-Time MBA student. My mother suffered from a spinal stroke right before I was accepted to Cox, and I debated even pursuing the program. I wanted to be in my hometown of San Antonio and help with her rehabilitation process, involving constant physical therapy to help her walk again. Imagine if you couldn’t walk and were wheelchair bound. You wouldn’t be able to stand in the kitchen to make yourself a meal. You wouldn’t be able to drive. You would be helpless. Questions flooded my mind throughout the first semester. Why was this happening to her? Why didn’t it happen to me instead? Why was I wasting my time trying to comprehend topics in school that I didn’t even care about? I felt so much anger and guilt that I never even felt sad, but my mom never felt sorry for herself. She always had her mind set to walking again and being able to drive to Dallas or Houston to visit me or my sister. She stayed positive and focused. She encouraged me to go to graduate school. By Christmas Eve, she was able to use a walker to enter the Church doors on her own.
her goal. I knew she would be okay. I knew her recovery process was going well without me. I knew I needed to maintain these new positive thoughts, reset, and refocus to do better in school. In January, I quit drinking alcohol, stopped eating processed foods, and increased the quantity of yoga classes I attended on a weekly basis. For me, these methods enhanced my mindset and fueled positivity in my actions. I appreciated school more and found balance amidst my endless checklist of tasks. For others, this may seem extreme and not feasible, but I can suggest an easier way to tap inward and be mindful no matter where you are or what you are doing. I call it the Five Sense Steps (see the next page). The Five Sense Steps technique is a great means for instant relaxation and feeling grounded in the present. If we can shift our thinking toward uplifting thoughts, we can truly reset, refocus, reimagine, and get back to it. Your mind can be a powerful ally or a formidable opponent. You get to choose. Whether or not we have it all together, a mindful moment will benefit all. It’s not selfish to spend time learning how to redirect your thoughts; it’s crucial to be able to live in your power, in your center, in your certainty. There’s no better time than right now to start making it work for you. As Buddha said several thousands of years ago, “Your mind is everything. What you think, you become.” Become great, become grateful, and become your greatest self by being mindful.
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TIPS
THE FIVE SENSE STEPS By: Allison Catalani, FTMBA 2019
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Feel the rise and fall of your chest as you breathe. Notice your breath, start to deepen each inhale, and slow down each exhale.
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Hear everything that hits your eardrum (this may be silence), but don’t respond or do anything. Simply witness your experience.
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See your immediate surroundings and focus on a particular object. Recognize the beauty in what’s around you.
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Taste a sip of water or something as simple as residue of gum, and be grateful for the ability to nourish your body.
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Smell the scents of the present. This builds upon step one, feel, in which you have already brought your awareness to your breath and in the present moment.
“Your mind can be a powerful ally or a formidable opponent. You get to choose.” 23
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TIPS
COX HACKS Trickiest Interview Questions Scott Thomas: What is worth more money, a barrel of oil in the ground or a barrel of oil on the surface? Ben Newcome: I got asked to develop a strategy for maximizing the revenue on an American Airlines flight by changing the seat configuration. Sean Lee: What do you notice on your commute to school? Stephen Loughren: If you have three lightbulbs and one switch, how can you tell which lightbulb is connected to the switch? Ryan Burch: What would your pricing strategy be for flights going from Chicago to Miami? Thuan Tran: They are not trying to trick you. Good interviewers want to know that you truly are interested in the position and the field of work.
NETWORKING TIPS Taylor Ready: Don’t make it about you. Look at this as an opportunity to meet 3-10 cool new people. Ask people about their story. Don’t just pitch yours. Courtney Condit: Approach it as an opportunity simply to learn something interesting about someone. Be interested to be interesting! Sailesh Ramanathan: I try to remember that they’ve been in our shoes beforehand know what we’re going through. They know we need a job/internship; it’s ok to be upfront about it. Thuan Tran: Practice. Network with companies that you’re not even interested in. Those are the best ones to totally fail with. That way, once you get to the group of companies you are really interested in you’ll be as smooth as butter.
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TIPS
BLC UPDATE Nonprofit Consulting Program By: Kate Hoedebeck
The Nonprofit Consulting Program gives students real world experience. The Business Leadership Center’s Nonprofit Consulting Program offers students the chance to establish leadership within our community while strengthening their own business skills. During the Spring Semester, six local nonprofit organizations will identify nine or ten business issues which will require Full-time, Professional, and MS students to solve some of their most pressing strategic challenges. Now in its 16th consecutive year, projects have included marketing plans, impact studies, financial modeling, staff retention plans and contract recommendations. Past year’s partner organizations include Akola, Austin Opera, Encore Park, Prism Health North Texas, St. Philip’s School and Community Center, and Texas Scottish Rite Hospital for Children. On Thursday, January 10th, 2019, the BLC will kick off the program with an information session which will provide details on the projects and the nonprofits. You will be able to sign up to attend this information session when you register for Spring Seminars at the end of November. After the January information session, students will submit their top three choices from the projects. Based on demand and BLC participation, students will be assigned teams of 5-6 to tackle these projects during Mod A. Right after Spring break, students will present their recommendations to their nonprofit. Our partner nonprofits are excited to receive valuable strategic recommendations while our students gain valuable real-world experience to apply in future careers. According to Jordan Smith, PMBA 80, “The BLC’s non-profit consulting program was a fantastic experience that gave our team the rare opportunity to apply the technical and interpersonal skills we’ve learned at Cox and add value to an organization making a tremendous impact in the Dallas community. We played a [small] role in facilitating the evolution of an incredible organization and it was an unprecedented learning experience.” For more information contact, Kate Hoedebeck, BLC Associate Director at khoedebeck@smu.edu.
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TIPS
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Top 10 BLC Seminars Attended Last Year 1. 6 Steps to Reclaim Your Career Cornelia Shipley 2. Managing Disruption Nelson Weil 3. Principles for Delivering Customer Loyalty Steve Zipkoff 4. Underdog Advertising Paul Flowers 5. Drive Decisions, Drive Business Will Leach 6. Conducting Business in the Age of Globalization Lothar Katz 7. Creating a Culture of Excellence Randy Pennington 8. International Business Negotiation Lothar Katz 9. Accelerated Learning Dave Gunby 10. Accountability Principles Henry Evans Sign up on the Business Leadership Center website.
GUESS THE MUSTANG
?
See page 39 to find out the answers!
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Tell us a fun fact no one knows about you. 1. “There is a statue of me in front of University Park Methodist Church.” 2. “I have a Hawaiian shirt collection that could impress Sir Tommy Bahama himself.” 3. “I am a fountain pen collector.” 4. “I don’t own a pair of jeans.” 5. “I have won a giant baked potato (loaded with brisket, all the fixings) speed eating contest.” 6. “I was a contestant on Global Guts.”
VOLUME II, ISSUE II MUSTANG BUSINESS JOURNAL
BUSINESS TODAY
Beyond Tex-Mex While delicious tacos and BBQ are enough to convince even the most skeptical of non-Texans to join us, the Big-D attracts employeers strategically. By: John Sampangnaro, FTMBA 2019
The Adam Smith Society recently met with economists from the Dallas Regional Chamber (DRC) to learn how they attract companies to the area. With the DRC’s help, the metroplex has gained corporate headquarters of Toyota North America, Jacobs Engineering, Fluor, Kubota Tractor, L3 Technologies, Jet Suite, Smoothie King, and Top Golf. Their success is also demonstrated with the highest population growth in the nation and the 7th highest GDP growth from 2014-2017. The DRC doesn’t only help businesses, but also increases standard of living. The DRC must attract business and the talent to support companies in unison. Dallas’ growth is impressive compared to the growth of the region as a whole. Moody’s, a measure of economic diversity of metro divisions in the US, scored Dallas, Fort Worth, San Jose (Silicon Valley), San Francisco, and Seattle at .80, .65, .23, .55, and .6, respectively. Dallas and Fort Worth, unlike San Jose, San Francisco, and Seattle, are not saturated with a single industry.
This means that growth experienced in Dallas and Fort Worth will be more stable, and better correlated with growth in the national economy. While typically people consider Texas’ low taxes as the reason companies move to Dallas, Dallas’ airports and central location play a major role as well. The DFW airport served over 67 million passengers in 2017 and is the 4th busiest airport in the world. It is undoubtedly, the region’s strongest comparative advantage. Centrally located, trucks can reach 37% and 93% of the American population in 24 and 48 hours respectively from Dallas, leaving them well placed for transit across the Americas. Dallas and Texas have succeeded in attracting new companies because of its low taxes and business friendly approach to governing, and have continued to succeed through continuous improvement from an entrepreneurial approach.
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CLUB SPOTLIGHT
BETTER TOGETHER Net Impact Presidents: Taylor Ready & Michelle Clark, FTMBA 2019 tready@smu.edu, clarkmg@smu.edu Net Impact members study and work in a variety of industries and functions, not limited to non-profits or social enterprises. Through Net Impact, you can learn how to leverage your career regardless of your role in an organization and help to create a better future. Net Impact is a global community of students and professionals who want to become the most effective change agents they can be. Over 100,000 strong, our emerging leaders take on social challenges, protect the environment, invent new products, and orient business toward the greater good. We help our members turn their passions into a lifetime of worldchanging action.
Finance Club President: Sandra Carlson, FTMBA 2019 scarlson@smu.edu The Finance Club is a supportive resource for students interested in opportunities within the financial sector through learning opportunities, interview coaching, and exposure to finance professionals in the Dallas market. Our plans for Mod B include A private equity panel, a modeling workshop, HHS, mock interviews and more.
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CLUB SPOTLIGHT
Energy Club President: Zach Hodge, FTMBA 2019 zhodge@smu.edu The Energy Club’s goal is to facilitate and assist in the job and internship search for club members, and to make SMU Cox the premier source for informed and educated MBA talent for the Energy Industry. The Energy Club is a student-run, crossconcentration organization designed to educate and prepare current graduate students for careers in the Energy Industry (E&P, Midstream, Power, Marketing, Banking, and Integrated Producers). This is done primarily by partnering with the Maguire Energy Institute and the Advisory Board of industry professionals in addition to our vast network of industry contacts. Join the club to stay plugged in to all things oil and gas at SMU Cox!
CLUB SPOTLIGHT
Cox Christian Fellowship President: Katie Stumbo, FTMBA 2019 kstumbo@smu.edu The mission of the Cox Christian Fellowship is to provide Christian fellowship to graduate students within the Cox School of Business and to explore the intersection between faith and vocation. We are a student-led Christian organization. All are welcome; whether you are just starting to explore or have been a Christian for years, we look forward to meeting you. Our goal is to build a strong foundation for believers at SMU Cox so that students can share their faith, grow closer to God, and get to know one another. Every Wednesday at 8:00 am, we meet in Maguire 253 for a Bible study; we hope to see you there! Other events for the year include dinners, a Theology of Work seminar, the Believers in Business Conference, and a Generous Giving JOG.
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COX TRAVELS
ENERGY By: Stephen Loughren, FTMBA 2019
Energy Club Trek Each year, the Energy Club travels to Houston to network with investment banks, o&g operators and private equity shops. This year we visited Guggenheim (IB), Quantum (PE), Drill-Quip (Services), Wells Fargo (IB), Credit Suisse (IB), Jefferies (IB), and ExxonMobil. Students are introduced to recruiters, alumni, and executives and encouraged to ask basic, technical, or recruiting logistical questions in a lowpressure environment. Many students left with a stack of impressive business cards to initiate future contact. To best prepare for these conversations, it is important to do basic research on the company: recent transactions, key assets/deal size, and industry news as well as prepare specialized questions for each company. These treks are critical for career success, as they create introductions that lead to coffee chats, technical phone screening and eventually super days (the banking industry’s naming of full-day interviews). In fact, Wells Fargo provided all attendees of last year’s trek with the Vault Guide – 400+ technical interview questions and their answers. If you are interested in receiving this invaluable resource, please email sloughren@smu.edu.
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COX TRAVELS
Industry Case Competition Case competitions change lives, or at least it did for me. Every fall during the weekend after Mod A finals, five poor souls of SMU’s UT/Chevron Energy Finance Case Competition team postpone socializing, and spend 80 hours grinding on campus. The 2017 case required our team to develop a drilling schedule based on petroleum decline curves and a midstream marketing strategy, assessing any environmental/legal considerations, and bundle it all into a 30-minute package to deliver to senior-level executives from Chevron, GE Financial, Lazard, and Wells Fargo. The 2018 case required upstream, downstream/retail, and financial statement models to recommend initiating exploration into Mexico. Case competitions are a great way to apply the skills we learn in school, learn new information, and make helpful connections with companies outside of the traditional recruiting channels. In fact, my involvement directly led to my post-MBA offer at Chevron. Case competitions encourage you to challenge yourself and truly test the cumulative learning experience that Cox has instilled in you. I encourage each of you to find a competition, whether advertised through SMU or not. Get a team together and test your skills!
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COX TRAVELS
MARKETING By: Jordan Tylutki, FTMBA 2019
National Black MBA Association National Black MBA Association (NBMBAA), or any other national job recruiting conference, is a great opportunity to expand your network and benefit from the opportunity to interview for a large variety of roles. Conferences like NBMBAA and PROSPANICA are open to all MBA candidates as an opportunity to recruit and network. This year’s conference was held in Detroit Michigan and featured companies from around the country. Your return from the conference is only as great as what you put into it. Taking the time to prep beforehand can result in greater interview opportunities and stronger connections with employees and recruiters.
HOW TO PREPARE 1. Apply to roles through the job portal before attending. Most companies provide phone screens for potential candidates prior to interviewing at the conference. Applying ahead of time gives you the best chance to interview on-site. 2. Practice your elevator pitch and interview responses. Grab a friend or your career coach and spend some time each week refining your pitch and practicing generic interview question responses. For interview questions STAR (situation, task, action, result) stories can be particularly helpful. 3. Send follow-up emails. Connecting with employees or recruiters with a quick thank you will help them remember the conversation you had and lead to meaningful connections.
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COX TRAVELS
Marketing Club Fall Trek The marketing trek to Portland in October, consisted of fall leaves, breweries, and visits to impressive companies such as Nike, Wieden+Kennedy, and Columbia Sportswear. Our visit with Nike allowed us to tour the enormous campus and hear countless tales of interactions with Lebron James. The buildings on the campus are named after Nike sponsored athletes and while the Joe Paterno daycare building was recently renamed, Tiger Woods is still a mainstay. We met with a panel of SMU undergrad alums and learned that the hustle to get a job at Nike is real. Most joined the company after several years in retail or agency life. Our afternoon consisted of great local coffee and a trip to Widen+Kennedy, the ad agency responsible for Nike’s “just do it.” The atmosphere in the vast industrial space was a stark contrast to the sprawling Nike campus filled with runners, bikers, and soccer players. We saw a reel of the agency’s best work and toured several of the pods of client teams. Our first day of touring wrapped up with an alumni happy hour where we met with our new friends from Nike and other local companies. Day two was a quick stop at Columbia where we learned about how a family business operates when publicly traded. After a panel with a variety of marketing and purchasing functions and a tour, we headed to the airport and back to classes.
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LIFESTYLE
DISCOVERING DALLAS By: Kelsey Martin & Anirban Bhaumik
1 ATWATER ALLEY
HIGHLAND PARK
Dallas 1
OAK LAWN
LOWER GREENVILLE KNOX/ HENDERSON
UPTOWN DESIGN DISTRICT
5 3 DEEP ELLUM
6 2
4
DOWNTOWN
Knox/Henderson @atwater_alley Not sure what you’d like to drink? The staff at Atwater Alley is here to help. Located at the back of Henry’s Majestic, enter this bar through the restaurant or approach an unmarked door in the alley. Tell a bartender what you’re in the mood for or have one of them help you decide and they’ll whip up a unique cocktail just to your liking. It’s a perfect date spot and good for groups, but is usually packed on the weekend.
2 BOURBON & BANTER Downtown ■ bourbonandbanterdallas.com Located in the basement of the newly-renovated Statler hotel, this underground lounge used to be the hotel’s beauty salon. Look for a payphone to enter and enjoy an extensive cocktail list with unique options like a crème brulee-ed drink that requires a tiny mallet to crack then sip. It has a similar vibe to The Midnight Rambler, the basement bar in the Joule (a popular post-MBA prom spot last May).
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LIFESTYLE
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5 THE KENNEDY ROOM
SANTOS Y PECADORES
Uptown kennedyroom.com
Uptown @cantinapachanga
Cozy fireplaces and leather chairs make The Kennedy Room a perfect atmosphere for colder weather. The cocktail menu is extensive, but the website also encourages you to share your favorite recipe and have a bartender concoct it for you. It’s open seven days a week with an afternoon happy hour Tuesday-Saturday, as well as a tasty food menu. Our top pick? Lobster mac & cheese.
People know and love Bowen House on McKinney Ave, but not many know that in the back hides a uniquely new mezcaleria. It’s a closet-sized space that boasts an impressive mezcal collection, with knowledgeable staff who will help you choose flavors to create a perfect cocktail. Luchador masks adorn the walls, and even sometimes the faces of the bartenders.
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4 PUREPECHA
TRUTH & ALIBI
Deep Ellum @perpecharoom
Deep Ellum @TruthAndAlibi
Calling all taco aficionados: this tiny spot located in the back of Revolver Taco Lounge is the secret spot of your dream. With a 14-person max occupancy and set seating times with a mouthwatering pre fixe menu, this Mexican gem is located in the back of Revolver Taco Lounge. Enjoy time with your own chef on a date night or consider booking the whole space for a group (reservations are available). It’s quieter and more intimate than the main Revolver, and visitors highly recommend octopus.
End a night out in Deep Ellum at this speakeasy…if you can find it. It’s hidden behind a faux candy shop and requires a password to enter (find it on their Facebook). Once inside you’ll find a unique ambiance that mixes chic chandeliers with a slight seediness that you’ll only find in this Dallas neighborhood. Dance to the DJ or sit in one of the thronelike armchairs with a cocktail and enjoy the people watching.
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Photo Credit: Kate Trimper
OUR TEAM Katie Stumbo Editor-in-Chief Kelsey Martin Managing Editor Maggi Cerruti Copy Editor
INTERESTED IN JOINING US?
We are always welcoming new writers, photographers, and graphic designers. Email kstumbo@smu.edu for information. Answers to “Guess the Mustang” on page 27: 1. Clark Long, 2. Scott Thomas, 3. Jared Shoemaker, 4. Sean Lee, 5. Courtney Condit, 6. Taylor Ready