UVM Family Enterprise Case Competition

AN INTRODUCTION TO THE FAMILY ENTERPRISE CASE COMPETITION

C O N T E N TS 3 A b out Us

Glob al Plat form

Continuing Excellence

Comp eting Universities 8 C omp etition

Design and Format

Benefits

Event Schedule

Continual Networking 1 6 G rossman Scho ol of Business

Family Business Institute

Student Ambassadors

Founder ’s Message 2 2 B urlington, V T

“FECC combines what are two of the most important factors contributing to family business sustainability: A motivated next generation and an innovative approach to education. We have greatly enjoyed watching this event grow year by year and become the global success it deserves to be.”

RAMIA M. EL AGAMY EDITOR-IN-CHIEF, THARAWAT MAGAZINE UAE AND SWITZERLAND

GLOBAL PLATFORM The Family Enterprise Case Competition (FECC) is hosted annually by the Grossman School of Business, at the University of Vermont in Burlington, VT; a business hub known for its entrepreneurial, locally driven economy and sustainable business practices.

FECC is the world’s premier competition for students, at both the graduate and undergraduate levels, to demonstrate their understanding of the critical issues that are unique to family enterprises, by applying their classroom knowledge and expertise towards solving complex family business cases.

During four tough rounds of competition, teams present their case analysis to a distinguished panel of judges, who determine which school best understood, analyzed and presented their case findings.

CONTINUING EXCELLENCE For the inaugural FECC in 2013, the Grossman School of Business hosted sixteen university teams from four continents, and more than sixty world-renowned judges; all with distinct backgrounds in family business.

Since then the size of the competition along with its reputation has grown on a global scale. In 2020, FECC hosted eighteen teams and over fifty judges from six continents and diverse countries including Australia, Canada, China, Colombia, Germany, India, Ireland, Spain, Thailand and South Africa.

“It was a great experience in Vermont, and the organization was just superb. Easily one of the most professional events I’ve been to among the 200+ events I have attended in the academic arena.”

MATTIAS NORDQVIST JÖNKÖPING INTERNATIONAL BUSINESS SCHOOL, SWEDEN WINNING COACH 2014 AND JUDGE ORIENTATION LEADER 2017

FECC has Hosted REPRESENTED

423 JUDGES 485 COMPETITORS 46

UNIVERSITIES

22

COUNTRIES

6 CONTINENTS

COMPETING UNIVERSITIES ARGENTINA Universidad San AndrĂŠs, Buenos Aires AUSTRALIA University of Adelaide - School of Business

CANADA

Bishop's University - Williams School of Business Brock University - Goodman School of Business Carleton University - Sprott School of Business Concordia University - John Molson School of Business Dalhousie University - Rowe School of Business HEC Montreal University of Alberta - Alberta School of Business University of Guelph-Humber University of Manitoba - Asper School of Business Wilfrid Laurier University - Lazaridis School of Business & Economics

CHILE

University of Chile Universidad del Desarrollo

CHINA

Zhejiang University

COLOMBIA

Universidad de los Andes

FRANCE

ICN Business School

GERMANY

Heilbronn University of Applied Sciences Munich Business School

GUATEMALA

Universidad Francisco Marroquin

INDIA

Indian School of Business

ITALY

Bocconi University

MALAYSIA Universiti Tun Abdul Razak MEXICO Universidad PanAmericana, Aguascalientes Universidad PanAmericana, Guadalajara NETHERLANDS Rotterdam University of Applied Sciences Windesheim University of Applied Sciences PANAMA Universidad Francisco Marroquin PHILLIPINES Asian Institute of Management SAUDI ARABIA University of Business & Technology SPAIN ESADE Business School SWEDEN Jรถnkรถping University - International Business School THAILAND Sasin School of Management UNITED KINGDOM Lancaster University UNITED STATES OF AMERICA Columbia University Grand Valley State University - Seidman College of Business Kennesaw State University - Coles College of Business Northwestern University - Kellogg School of Management Oregon State University Saginaw Valley State University St. Bonaventure University Stetson University Syracuse University - Whitman School of Management University of Massachusetts, Amherst - Isenberg School of Business University of North Texas University of Vermont- Grossman School of Business

COMPETITION DESIGN Each team will be composed of four members – three students and one coach/ advisor. All three students must be enrolled in either an undergraduate or a master’s program at the sponsoring institution.

The pre-arrival case is sent to all teams seven to ten days before the competition. Teams arrive in Burlington ready to present their analysis and recommendations on the first day of the competition. A random draw at the opening lunch places teams into divisions.

Following the pre-arrival round students will compete in two additional divisional rounds in which each team will have four hours to read, analyze and prepare a presentation of their conclusions with supporting rationale. After three days of competition and subsequent daily rankings, winners of each division compete for the University of Vermont Family Enterprise Case Cup.

PRESENTATION FORMAT

20 MINUTE PRESENTATION and

10 MINUTE JUDGES’ Q&A

BENEFITS JUDGES Each judging panel is a mix of highly respected family business owners and managers, family business advisors, and academics. The ideas and expertise shared through the teams’ presentations, are designed to enhance all participants’ understanding of family business.

LEARNING: Judges learn from, and with, their fellow panel members, as well as being exposed to the thought-processes of the participating students.

NETWORKING: Since its inception in 2013, more than 420 judges from six continents have participated in FECC. RECRUITING: Most competitors and student organizers are close to completing their degrees. If you are interested in recruiting from among this highly talented, international group of over 120 undergraduate or graduate students, we can organize on-site interviews for you.

SPONSORS In addition to all of the advantages enjoyed by judges, sponsors realize: BRAND AWARENESS: Increase international recognition and exposure at both a company and individual level.

PRIORITIZATION: Sponsors have first choice of which days they would like to judge; higher-level sponsors are also guaranteed a prestigious seat on the finals round judging panel.

COMPETITORS PROFESSIONALISM: Competitors showcase their presentation skills and business acumen on a global stage, with the ability to impress and gain valuable feedback and guidance from a distinguished panel of judges.

NETWORK: Networking with peers, future business leaders, and highly regarded academics and executives from all over the world.

TR AVEL: Students visit and explore one of the best college towns in America, while simultaneously getting exclusive use of UVM’s renowned facilities.

STUDENT ORGANIZERS FECC is a student-run event where UVM leadership teams have the opportunity to organize, lead and deliver a world-class experience. FECC gives students the ability to gain real-world business capabilities through event planning, the recruitment of a large team of students and management of the numerous tasks associated with running the event; in addition to the significant exposure interacting with professionals & successful international business leaders.

“I am delighted and honored to serve as a judge at UVM's FECC. I am grateful to have the opportunity to share my experience with so many committed, enthusiastic students from around the world, and I'm sure that every year, I learn at least as much about family business as they do."

BRAM KLEPPNER, DANFORTH PEWTER, USA

JUDGE AND SPONSOR 2020

EVENT SCHEDULE DAY 1

Registration Coaches Meeting Opening Lunch Team Presentations Opening Reception Results Distributed

DAY 2

Breakfast Case Preparation Team Presentations Lunch Social Activity Results Distributed

CONTINUAL NETWORKING FECC also features many other opportunities outside of the competition for students and coaches to interact with each other, industry professionals and sponsoring organizations, through social events and local trips.

DAY 3

Breakfast Case Preparation Team Presentations Lunch Networking Event Finals Announcement

DAY 4

Breakfast Finals Case Preparation Finals Presentation Networking Reception Closing Ceremonies

FAMILY BUSINESS INSTITUTE

In 1998, the Grossman School of Business created several family business initiatives and has subsequently became a leader in the study, research and understanding of family business.

Now led by the distinguished scholar Professor Pramodita Sharma, the school and institute has gained global recognition, earning the accolade “A Top 25 Program for Family Business Globally”

by Family Capital. Through events such as FECC, the Family Enterprise Research Conference, and the UVM Family Business Awards, the Grossman School of Business continues to spearhead education and research focused on family enterprises – the most prevalent form of business organizations in the world.

As a significant number of Grossman School of Business students come from family business backgrounds, the numerous opportunities they have to study and experience the complexities of family business, in both a graduate and undergraduate setting, helps them launch their careers whether they choose to work in or with family firms.

Participating teams are paired with a student ambassador upon arrival in Burlington, who guides and assists them through the intense days of competition and their visit.

As a competition known for its friendly, welcoming atmosphere and deep student involvement, ambassadors share their insights on not only event logistics, but also local attractions such as what are the best restaurants in town or places to visit. This ensures our guests experience is as enjoyable and positive as possible.

“FECC has been one of the best experiences I have had not only within the Grossman School of Business, but at UVM as a whole" RYAN WAYSTACK STUDENT LEADER FECC 2020

STUDENT AMBASSADORS

FOUNDER’S MESSAGE When we launched the Family Enterprise Case Competition (FECC) in 2013, research established that 60% to 98% of all businesses in most countries are family firms. In addition, it was estimated that by 2025, family-owned businesses will represent nearly 40% of the world’s largest companies, up from 15% in 2010. The need to bring this fast-growing sector of the economy to the center stage of business school education was evident to us.

Although there were hundreds of case competitions in the world on topics as diverse as strategy, marketing, finance, and sustainability, not a single case competition focused on the unique issues of family enterprises. The goal of FECC was to bring together student teams from leading family business educational institutions from around the globe, to compete, analyze and present their family business case recommendations to thought-leaders in family business studies and practice. As a global first in this field, we hoped FECC would bring business education closer to the lived realities of the majority of enterprises wherever they operated.

Since its inception, we are proud that 150 student teams representing 46 universities from 22 countries have competed in FECC; and more than 1,000 individuals from six continents have participated as competitors, judges, and organizers. The Undergraduate and Graduate winners have come from schools in Australia (Adelaide), Canada (John Molson, Lazaridis, twice, and Sprott), Mexico (Universidad PanAmericana Aguascalientes), Panama (Universidad Francisco Marroquin), Spain (ESADE, twice), and Sweden (JIBS, three times).

Each FECC judging panel is comprised of at least one family business owner/manager, an advisor/service provider, and an educator. The caliber of competition has consistently impressed the judges, while the competitors describe FECC as simultaneously intense and stressful, welcoming and fun, and an incredible learning and networking experience. The exceptional caring professionalism of the student leaders, staff and faculty who host FECC, continues to amaze our guests and bring pride to the Grossman School of Business.

We welcome you to join us and experience this incredible lifechanging competition!

Pramodita Sharma Professor and Sanders Chair in Family Business Grossman School of Business University of Vermont

EXCITING TIMES FOR THE GROSSMAN SCHOOL OF BUSINESS Among Top 25% of Business Schools in the U.S. (2020) – US News and World Report

#1 Ranked “Best Green MBA” in the U.S. (2018, 2019 & 2020) – The Princeton Review UVM MAcc program students are in the Top 3% in the nation for success in the CPA exam One of only 8 business schools in the world, ranked as Transformational (2020) - Positive Impact Rating

Among “50 Most Innovative” in the U.S. – Business Management Degrees

“Interacting with the diverse scholars, practitioners, and students enables me to deepen my understanding of the diverse issues and perspectives related to family business. I feel privileged to be associated with the FECC and to have developed this relationship with UVM.” DANNA N. GREENBERG, WALTER H. CARPENTER PROFESSOR OF ORGANIZATIONAL BEHAVIOR, BABSON COLLEGE, USA JUDGE AND SPONSOR

BURLINGTON VERMONT

FECC is hosted in Burlington, Vermont – regularly voted as a top co and Travel+Leisure, and was recently called a “Top 10 Tech Hub” b Burton, and Seventh Generation, the city is famous for its sustain can experience the values taught in the classrooms of the Grossm

ollege town in America by media outlets such as Huffington Post

by Forbes. As home to legendary companies like Ben & Jerry’s, nable business expertise and farm-to-table food scene. Teams man School of Business in action.

STAY SOCIAL FACEBOOK @UVMSchoolofBusiness INSTAGRAM @Uvmgrossman TWITTER @UVMBizSchool

CONTACT US psharma@bsad.uvm.edu thomas.chittenden@uvm.edu

uvm.edu/business

Contributing Photographers: Andy Duback, Sally McCay, John Turner