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Conference will assess what’s been learned, discuss current issues and obstacles

T H E W I L L I A M D A V I D S O N I N S T I T U T E , along with the Center for Sustainable Global Enterprise at Cornell University, will co-host the conference, “Business with Four Billion: Creating Mutual Value at the Base of the Pyramid,” to be held September 9-11 on the campus of the University of Michigan.

An African shepherd uses a portable wireless computer to determine the best place to run his herd. Farmers in India gather around a community computer to track global price trends for their crops.

The conference will bring together 350 of the leading thinkers in the “base of the pyramid” — or BoP — field, including business managers, policy makers, social entrepreneurs, academics, non-profit experts, and development agency professionals. They will discuss what they have learned about operating at the base of the pyramid and explore current issues and challenges. Conference sponsors include the University of Michigan’s Ross School of Business and the Erb Institute for Global Sustainable Enterprise, and Procter & Gamble. To learn more about the conference or to register, visit the conference website at www.bop2007.org. “We are delighted to be organizing this conference with our partners,” said Ted London, conference chair and director of WDI’s base of the pyramid research initiative. “Combining the expertise and reach of our two institutions has allowed us to assemble a terrific set of speakers. The initial response has been outstanding, and we believe this conference will be the next watershed event for organizations interested in developing enterprise-based strategies for serving the BoP.”

Football being played in an African town.

Operating at the base of the pyramid is a rapidly growing field. In 2002, C.K. Prahalad and Stuart Hart — both of whom will speak at the conference — wrote a pathbreaking article on how business strategies could serve the needs of the four billion poor in the developing world. Two years later, Prahalad’s book, “The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits,” was named the best business book of 2004 by Amazon.com and Fast Company. That same year, the World Resources Institute held a large conference in San Francisco exploring this new and exciting innovation. Though the BoP field continues to generate increasing global interest from organizations in the corporate, nonprofit and development sectors, much has changed, Hart said.

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Research Updates Social Enterprise............................................................................................................4-5 Base of the Pyramid.......................................................................................................6-7 Globalization of Services ................................................................................................8

Program Updates Educational Outreach.....................................................................................................8 Executive Education .......................................................................................................10-11 Development Consulting Services ..................................................................................12-14

Supporting International Activities Cross-School Collaborations ..........................................................................................15 Speaker Series ...............................................................................................................16-17 Multidisciplinary Action Projects (MAP)..........................................................................18-19 Internships.....................................................................................................................20-21

News Stuart Hart to Spend Year at Michigan ...........................................................................23 New Arrivals: Three Join WDI Staff.................................................................................23 WDI Calendar.................................................................................................................24


L E T T E R

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Welcome

D I R E C T O R

3 to the eighth issue of the Davidson Review, the William Davidson Institute’s (WDI)

semiannual newsletter designed to keep you apprised of our activities and plans, and to encourage you to become involved in our programs. As you may recall from previous issues, for the past several years WDI has organized its activities into four broad areas — research, development consulting services, executive education, and supporting international activities at U-M. As I noted in the last issue of the Review, we have now added a fifth initiative — educational outreach. Our Development Consulting Services, with new director Khalid Al-Naif, is making very good progress. He has hired an experienced staff and they are hard at work raising WDI’s profile in the international development community. We look to expand our range of projects in the coming months. We have recently won several significant contracts and I anticipate more good news from our new team. Executive Education, led by Amy Gillett, had a record year. The initiative delivered 34 programs to more than 1,800 managers around the world, and for the third straight year posted a profit — which was reinvested into the Teeter Scholars program that facilitates participation by non-profit and government officials. Executive Education also held its first programs in Latvia and Turkey this past year. Training for Rwanda government officials has been a success and interest in WDI Executive Education programs in Latin America continues to grow. Our Educational Outreach, announced in the last newsletter, is being organized and new case writers are being trained. We anticipate a public launch later this year. The initiative’s goal is to help faculty members move their intellectual capital into the classroom in an effective way. The organization, directed by Professor John Branch, will work with faculty to develop case studies, videos, simulations, and other teaching materials. The group is also developing a website and will distribute these teaching materials to other schools, which should help build both the school’s and the Institute’s brand. All three research initiatives — Globalization of Services, Social Enterprise, and Base of the Pyramid — are progressing well. All are focused on content creation at the moment. Base of the Pyramid, led by Ted London, has really developed into a thought leader on its topic and will host a major conference in September. Globalization of Services, managed by Ajay Sharma, is developing a new MBA course for the Ross School of Business. Ajay and I are currently writing a book on this topic that is scheduled for release in summer 2008. Social Enterprise, headed by Kelly Janiga, received good reviews for its new MBA course at Ross. The initiative is ramping up its case writing work and other thought leadership pieces. WDI’s support of international activities at the university continues to grow. This past year we organized eight Multidisciplinary Action Projects (MAP). The projects, in conjunction with the Ross School, allow MBA students to work full-time with international organizations to create new business models, research new directions, and strategize for the future. And as you read this, 23 UM students are spread out all over the world as part of WDI summer internships. Fifteen students are working with organizations selected by WDI because they do work that closely associates with one of our three research initiatives. Eight students found opportunities on their own with organizations in emerging markets that are doing innovative work. In my last letter I talked about a dramatic expansion of WDI’s support for international activities at UM, funding research and internships at the School of Public Health and a clinical and administrative engagement with the School of Medicine. I’m happy to report that both are going well. I’m also pleased to announce what WDI has agreed to fund an additional program at the Medical School that involves pediatric medicine in Ghana. As you can see, WDI is involved in all sorts of interesting activities around the globe. If you are already engaged with WDI, we thank you for your involvement. If you are not, we invite you to become a part of WDI Sincerely,

Robert E. Kennedy Executive Director


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The Social Enterprise research initiative focused on content 4

creation the past year. Research Manager Kelly Janiga taught a successful new MBA-level course and took the initial steps towards publishing a practitioner book on the topic. Also, several papers were added to the SE working papers library.

Panelists at the “Innovations in the Third Sector” conference

August Brazil Conference to Highlight Latin American NGO Strategies The William Davidson Institute and Institute GESC are co-hosting the conference, “Third Sector Innovation: Sustainability and Social Impact” (TSISSI), on Aug. 16-18 in Sao Paulo. The conference is designed to shine a light on the valuable work of social enterprise leaders across Latin America as well as the broad range of business and organizational innovations that are occurring in the nonprofit sector in the region. More than 80 NGOs from Brazil, the U.S., Argentina, Colombia, Ecuador, Venezuela, Costa Rica, Chile and Nicaragua will be represented at the conference. “We have assembled some great speakers and some interesting panel sessions,” said Kelly Janiga, who leads the Social Enterprise research initiative at WDI. “We feel the conference attendees from all across Latin America will benefit from their three days spent in Sao Paulo, and will take home some important tools to improve their organization.” At the conference, case studies in three areas will be presented. The areas are:

social enterprises, including proven strategies to build capacity; management tools, such as issues related to developing leadership in the third sector; and IT innovation, including indicators and result of innovation initiatives.

There also will be a floor show for NGO participants to display and sell the products they are producing through their social enterprises, which will create another venue for networking. “It is our goal that participating NGO’s should leave the conference with new ideas and business models that will provide them with a new set of tools to enhance their sustainability and allow them to positively affect the social impact of their organization,” Janiga said.

The gathering will be an opportunity for conference attendees to discuss new approaches and develop relationships with their global colleagues. It will also highlight some of the innovative models developed by WDI partners in Central and Eastern Europe and the United States.

There also will be training sessions on technical assistance on relevant social enterprise topics such as business plan development, strategic, financial and human resource management, marketing strategy, and social capital and networking. The sessions will be led by the IGESC staff, and guests and top faculty from the University of Michigan’s Ross School of Business.

During the conference, social enterprise leaders from around the world will share best practices and strategies for becoming:

Conference sponsors are Microsoft, healthcare giant Roche, financial analysis firm Serasa, Instituto C&A, and BR Petrobras.

Increasingly self-sustainable (less donor dependent); More efficient by integrating appropriate management tools; More empowered by creating economic opportunity through IT; More independent through the creation of public-private partnerships.

The conference will kick off with a welcome from Jose Serra, governor of Sao Paulo,and Gilberto Kassab, mayor of Sao Paulo. The first plenary session features WDI Executive Director Robert Kennedy, Microsoft Executive Director Michael Levi, and Brasilprev President Eduardo Bom Angelo. The second plenary includes a talk by Melvyn Levitsky, who served as U.S. Ambassador to Brazil from 1994-98. Conference organizers have designed the event to be highly interactive and to provide ample opportunity for sharing experiences individually. There will be numerous opportunities for breakout sessions and small group discussions that will allow a deeper level of analysis.

www.wdi.umich.edu

WDI Hosts “Innovations in the Third Sector”Conference Managers and directors of non-governmental organizations (NGOs) and nonprofits from as far away as Central and Eastern Europe — and as close as Ann Arbor — shared their success stories on everything from forming an effective board to starting revenue-generating enterprises at the WDI conference “Innovations in the Third Sector.” The two-day conference, held at the University of Michigan Union on March 22-23, focused on innovations occurring in the nonprofit sector domestically and in EU Accession and new member countries. “I’m really pleased with how the conference went and all the great ideas and innovations that were discussed,” said Kelly Janiga, who leads the WDI Social Enterprise research initiative. The WDI conference gave a venue for nonprofit directors, business leaders, foundation

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representatives and academics operating in the broadly defined social entrepreneurship/ enterprise arena to share best practices and to network. Nonprofits in both the U.S. and in Eastern Europe are experiencing growing competition for increasingly limited donor funds. One positive development resulting from the intense competition, however, is that it encourages nonprofits to adopt innovative strategies to increase sustainability and independence. In addition to the William Davidson Institute, the event was sponsored by the European Union Center of Excellence (EUCE), the Ford School of Public Policy, CREES, and by a grant from the European Commission. Some of the key findings included the agreement by all participants that there are some really innovative strategies occurring in the U.S. and Eastern Europe. Also, all agreed that the third sector in both geographies is facing major constraints when it comes to sustainability, leading many organizations to be more thoughtful in adopting appropriate business strategies. The conference participants also agreed that funders, foundations, government and individuals are more interested in supporting innovative practices. Challenges, however, remain. In some countries, there is still a distrust of the third sector. In the U.S., the struggles are more related to how to grow specific, successful programs. The first day featured panels on promoting third sector sustainability, new sources of capital for enhanced social value, and leveraging student talent and providing social innovation opportunities. In addition, former U.S. Ambassador to Slovakia Ron Weiser gave one of two keynotes. He praised the important work NGOs and nonprofits do around the world. “Freedom and democracy can not be sustained and might not flourish without strong civil societies,” he said. Weiser said NGOs were the backbone of strong civil societies. That is why, he said, “we must do everything we can to help them flourish.” He told the crowd to “listen up today and tomorrow” at the conference, “then do a better

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job in pursuing your mission. It’s so important to mankind.” Mike Carscaddon, executive vice president of Habitat for Humanity, followed Weiser and talked about public-private partnerships. He spoke about the organization’s mission of building homes for those who need housing. Those who get houses from Habitat make mortgage payments to the organization, which puts it in a fund to build more homes. Carscaddon also talked about the huge volunteer effort used to build homes. He said volunteers enjoy doing something that changes a person’s life. “The volunteers benefit much more than the new homeowners,” Carscaddon said. On the conference’s second day, panel topics included public-private sector linkages, and accessing new markets. The conference audience also heard from three featured speakers. Mary Bright of Social Venture Partners International talked about the rise of venture philanthropy in the U.S. Earl Copus, president and CEO of Melwood, talked about his three organizations in the U.S., Brazil and Japan. And Jenny Dirksen, director of community investment for the Union Square Hospitality Group in New York, spoke of the many projects they undertake to help the neighborhoods around their restaurants. To wrap up the conference, organizers Kelly Janiga of WDI, Diane Vinokur, associate professor of social work at UM, and John Chamberlin, professor of public policy at UM, thanked the participants and attendees. They all agreed that everyone should keep in touch and continue to share their best practices.

aimed at providing essential goods and services to the poor. This pilot survey will be conducted in Brazil in August.

Latin America and Caribbean NGO Alliance Growing

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Fifteen new nonprofits and non-governmental organizations have joined WDI’s NGO Alliance. The aim of the alliance is to promote networking opportunities and the dissemination of best practices. Alliance members contribute to WDI publications, participate in conferences, and partner on technical assistance. The LAC NGO Alliance has 46 members from 10 countries, including Argentina, Chile, Colombia, Costa Rica and Ecuador. The 15 new members are all from Brazil. They are: Aprendiz School; Artesanato Solidario/ArteSol; Ayrton Senna Institute; Coopa-Roca; Fundacao Nacionalda Qualidade; Geledes; Gesto; Institute Abrace; Institute Effort; Institute Fonte; Institute Paradigma; Meninos do Morumbi; Oficina Municipal; Oxigenio; and Papa de Gente.

Social Enterprise Resources WDI’s Web site hosts hundreds of resources on Social Enterprise, including business and policy briefs, academic papers, reports from multilateral organizations and industry consulting firms, and scores of the latest articles from various media outlets. Go to: www.wdi.umich.edu and click on “Resources” under Social Enterprise in the left-hand column.

Survey Will Gauge Views on Organizations’ Work WDI, together with Ashoka and the Corporate Executive Board, has developed a survey aimed at assessing the perceptions that both private sector and citizen sector organizations have regarding the benefits and challenges to developing cross-sector partnerships

www.wdi.umich.edu

Danko Cosic, executive director of ProConcept in Serbia talks at the March “Innovations” conference


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The Base of the Pyramid research initiative, under the direction of Ted London, has spent the 6

past six months writing several articles, collaborating with partner organizations in the field and organizing the September BoP conference. To learn more about the conference (featured on the cover of this newsletter) or to register, go to www.bop2007.org.

Working Paper Discusses BoP Perspective on Poverty Alleviation A corner market in Namibia.

Ted London recently finished a paper for the United Nations Development Programme that reviews the existing literature on the BoP. He also presented this work to a standing-room only crowd at the World Resources Institute in Washington, D.C. London’s conceptual paper was part of the UNDP’s Growing Inclusive Markets initiative. The paper, “A Base-of-the-Pyramid Perspective on Poverty Alleviation,” puts forth a framework and set of principles that distinguishes the BoP perspective from other poverty alleviation approaches. These principles provide insight on when a BoP perspective is more effective than traditional approaches and how it can complement other poverty reduction efforts.

Ted London

“Most of the work around the BoP is about business strategy — how to be more successful,” London said. “Indeed, the BoP requires a unique market strategy, but what has not been articulated is whether it also offers a unique poverty alleviation perspective. Based on what has been written, there are some principles that, when combined, suggest that the BoP perspective offers unique insights on poverty alleviation. “In this work, I am not evaluating whether approach is good or bad. Rather, the focus is on understanding what is different about this perspective. Once the definitions and boundary conditions are in place, a more fruitful discussion can occur about the effectiveness of this perspective.” The literature review “ sets the stage for these more in-depth discussions,” London said. After London’s D.C. talk to a standing-room only crowd at WRI, Kristi Ragan, Development Alternative Inc.’s Strategic Advisor to USAID Global

Interest in BoP as a poverty alleviation tool is growing. However, most of the current research has focused on market entry strategies for commercial organizations interested in exploring these markets.

Development Alliances and an adjunct professor at Georgetown University, offered her comments. Robert Katz of the World Resources Institute’s Markets and Enterprise Program moderated a panel session.

Assessing the Impact of BoP Ventures on the Poor In a second new paper, Ted London addresses a key question in the BoP field: What are the impacts of BoP ventures on local poverty alleviation. Following field work with partner organizations over the past two summers, London presents a framework that provides a better understanding of how a venture at the base of the pyramid (BoP) impacts poverty alleviation in terms of measurable changes in economic, capacity, and relational well being. The framework also: ■

www.wdi.umich.edu

Provides guidance in developing future venture strategies to maximize poverty alleviation outcomes and minimize negatives ones Allows for a more complete articulation of these impacts to internal and external stakeholders Offers a tool for comparing poverty outcome across different enterprises Enables an in-depth analysis of the BoP hypothesis of mutual value creation.

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The framework is currently being tested in India with the Scojo Foundation and in Mexico with CEMEX with University of Michigan students Nina Henning, Juan Carlos Quintero, and Puneet Singh, who are part of the WDI summer internship program. “We need to have a deeper understanding of the impacts of BoP ventures at the local level,” London said. “Before, organizations have relied on anecdotes which are indicative of potential positive outcomes, but are not sufficient to gain a full understanding of the poverty alleviation implications. This framework takes a deep dive to take a look at who is impacted and how they are impacted.” London said the framework is necessary because BoP is a new approach. And in order to move the discussion forward on how effective the BoP is as a poverty alleviation tool, some sort of measurement is needed. “We tried to develop a tool or framework that can be used in the field,” London said. “Then we can begin to better address these kinds of questions about impact.”

products, handicrafts, housing, and other materials that are sold in non-local markets. Understanding what strategies these ventures employ and how effective they are in alleviating poverty is crucial in order to truly appreciate the role of market-based enterprises in poverty alleviation, London said. The project outline is: ■

Locate and summarize existing research on “BoP as producer” ventures Identify as many as possible “BoP as producer” ventures Identify key dimensions along which they vary Use these dimensions to cluster the ventures into a set of categories Collect data on the ventures to determine factors that influence effectiveness Summarize key findings in an article

“Through this project we will hopefully push the thinking in the field forward,” London said.

Research Project Looks at BoP as Producers WDI and CARE Enterprise Partners (CEP) have teamed up on a research project to identify and categorize the different types of “BoP as producer” ventures and to better understand the key factors that influence the poverty alleviation effectiveness of these ventures. The work will lead to a paper targeting the practitioner community. London, Professor Ravi Anupindi of the Ross School, Farouk Jiwa of CEP, and Sateen Sheth, joint degree MBA/Sociology student have undertaken the joint research effort. Most prior research on BoP ventures has focused on the BoP as a market to sell goods and services, London said. “The BoP as producers is often discussed but, to date, rarely studied,” he said. “Our goal is to look at the landscape of to see what types of ventures are out there and look at the different ways they have poverty alleviation impact.” In these ventures, those at the BoP are the producers of goods, such as agricultural

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enterprises in public contracting, while another employer worked in public education policy. At the Ford School, Allen is focused on international development policy with the career goal of working in the development field, either with private or non-profit firms.

BoP Resources WDI’s Web site hosts hundreds of resources on Base of the Pyramid, including business and policy briefs, academic papers, reports from multilateral organizations and industry consulting firms, and scores of the latest articles from various media outlets. Go to: www.wdi.umich.edu and click on “Resources” under Base of the Pyramid in the left-hand column.

BoP Video Library Research Associate Joins BoP Initiative Erica Allen, a student at Michigan’s Ford School of Public Policy, is a new research associate with the BoP initiative. Allen, who received her bachelor’s degree in Urban Studies from Stanford University, has spent the summer helping with the marketing and organization of the September BoP conference. She also conducts research on ventures that try to engage the private sector in development and poverty alleviation. While in college, she studied in Chile and did a research project in Cuba. Following graduation, she worked in Oakland for three years in public policy consulting. One company she worked for dealt with minority and women business

www.wdi.umich.edu

Ravi Anupindi

The WDI BoP video library continues to grow. Recently added to the collection is an interview with journalist and Africa expert G. Paschal Zachary. Other video interviews available on the WDI website include Colin Beckwith, CARE’s director in Central America, Vijay Sharma of Hindustan Lever, Farouk Jiwa of CARE Canada, Hector Ureta of the Mexican cement-maker CEMEX, Marcos Neto of CARE USA, Patrick Donohue of BRINQ, Jesse Moore of CARE Canada, Dr. Jordan Kassalow of the Scojo Foundation, and Stuart Hart of Cornell’s Johnson School of Management. To see the interviews, go to: www.wdi.umich.edu/Publications/ VideoAudio/BoPVideos.

Erica Allen


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The Globalization of Services research initiative continues to focus on content creation. The graduate-level course on GoS being developed for Michigan’s Ross School of Business is coming

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together. It will be taught by WDI Executive Director Robert Kennedy and WDI Senior Researcher Ajay Sharma, who leads the Institute’s GoS initiative. Kennedy and Sharma also have reached an agreement with Pearson Education, the world’s leading educational publisher, to write a book on offshoring. The book will be published under the Wharton School Publishing label and is scheduled to be released in summer 2008.

A Current Look at Offshoring

Ajay Sharma

The globalization of services became a campaign issue in the 2004 U.S. presidential elections. The issue has already come up in the 2008 campaign and will likely be a hot-button issue among candidates all the way up to the November 2008 vote. In light of this, The Davidson Review posed a few questions to Kennedy about the current state of offshoring.

few years, managers will have to shift from a “moving low-end activities to India” mindset to one of “managing the global service value chain.” Today, few firms have the systems, capabilities, or mindset to make this move smoothly. DR: Globalization — and trade in natural

resources and manufactured goods — has been around for some time. Now, business services like F&A and innovation activities like R&D are also getting globalized. Is globalization of services any different?

DR: Give us a lay of the land on

Kennedy: The basic economic logic is

offshoring right now.

similar. In the aggregate, both countries gain from trade when a cross-border transaction is voluntary. But trade in services does differ in several important ways. First, services are generally provided synchronously. That is, the service is provided at the same time as it is consumed. With manufacturing, a factory might produce a component today that is not consumed for a month or a year. With call centers or teleradiology, production glitches are immediately visible. This makes everyone step up their game.

Kennedy: Offshoring — of both software

development and back office activities — continues to grow at a phenomenal pace. India has seen growth rates in the 25-30% range in each of the past two years, and smaller countries, like the Philippines, Uruguay, and Hungary, are seeing even faster growth. So, the “services shift” is alive and well. The type of activities going offshore has recently changed a bit. Three years ago, it was primarily software and back office stuff (think cubical farms with people answering phones, managing accounts receivable, or answering emails). Today, it’s no longer just low-end stuff. The fastest rates of growth are in high knowledge activities — things like teleradiology, equity research, paralegal work, and product design. Many activities that are done by a person sitting at a desk processing computer files are moving offshore. A second trend is that the phenomenon is becoming less India-centric. India is still, by far, the largest and most sophisticated offshore destination. But countries like Russia, Mexico, Costa Rica, Morocco, and South Africa are seeing very high growth rates. Over the next

Second, the developing countries have a much larger advantage in services than in manufacturing. Think about auto parts production. If Delphi moves a plant from Michigan to Mexico, most costs (steel, energy, machine tools) are about the same. Labor is only 20-25% total costs. They save a boatload on labor, but overall costs decline only slightly. Now think about a call center. In the U.S., labor costs are 65-80% of the cost base. If Convergys or GE moves a call center operation to India and cuts 75% off this line item, total costs go down by 40-60%. The advantage that offshore firms have in most services dwarfs that of most manufacturing activities. Finally, the shift of service activities is much more difficult to spot. If Delphi closes a Michigan plant

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and opens one in Tijuana, it’s pretty easy to track the flow of goods and jobs. If GE cuts a few jobs here and a few jobs there during lean times then, a year or two later adds a few positions in India, a few in Mexico, and a few in Hungary, chances are you will never notice. This makes regulating offshoring an almost impossible task.

Sharma Presents at Hong Kong Conference WDI Senior Researcher Ajay Sharma, who directs the Institute’s globalization of services research initiative, participated in the Sixth Annual International Business Research Conference in Hong Kong in early July. Titled “Global Economy, Markets & Management,” the conference focused on research for global advancement. It drew participants and attendees from 23 countries. Along with WDI Data Resource Analyst Patricia Loh, Sharma presented a paper on emerging trends in sourcing of business services. “Rapid changes in the business environment along with increasing corporate challenges are leading companies to critically look at and optimize various business process activities,” Sharma said. Besides increasing in scale and scope, Sharma said outsourcing and “offshoring” are moving up the value chain. Activities are being split into smaller units for servicing and a services supply chain is beginning to emerge. Some services are becoming industrialized and commoditized, Sharma said. “As manufacturing tools such as six sigma and lean are being applied to services, offshoring is becoming more of a ‘science’ rather than ‘art,’” he said.

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program

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In December 2006, WDI announced the creation of Educational Outreach to develop 9

high-quality, business school teaching materials. The initiative will focus on three goals:

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To support Ross School faculty efforts to move their research and other ideas into the classroom

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To raise WDI’s profile as a source and clearinghouse for cutting-edge ideas on international business and policy topics

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To provide a forum for academics around the world to share teaching materials. These materials will include case studies, conceptual notes, syllabi, videos, exercises, and simulations to provide a one-stop shop for course design and delivery.

John Branch, director of the initiative who was profiled in the Winter 2007 issue of the Davidson Review, is working with several newly-hired case writers, formulating strategy and sorting out logistical issues for a year-end public launch.

left to right: Grace Augustine and Moses Lee

Three case writers have been hired and are being trained on curriculum design, case writing, case teaching, and instructional design. A fourth case writer will start in August. Branch is also working with the IT staff to design an interactive website that will encourage educators to share teaching materials, discuss course design, and engage with each other. The site also will have an e-commerce component. Branch said that there is a great opportunity for both WDI and the Ross School to raise their profiles as sources of cutting edge ideas. The EO initiative will build a community of interest around these topics. It will do so in a sustainable manner by developing a business selling business teaching materials. “I have been very lucky to build such a great team of research associates,” Branch said of his writers. “They all have very different backgrounds — public policy, accounting, science, organizational studies — which we can leverage. They are incredibly enthusiastic, and are especially dedicated to the mission of WDI.” THE FOUR WRITERS ARE:

Grace Augustine received her bachelor’s degree from UM in organizational studies, an interdisciplinary program dedicated to the intensive theoretical, empirical, and experiential study of social organization. After graduation, Augustine worked in consulting for both the Consulting Academy in Rome, Italy, and Deloitte Consulting in Detroit. She has worked in numerous industries, including communications, manufacturing, retail, automotive, and healthcare.

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left to right: Mariana Orloff and Dave Vannette

Moses Lee graduated from UM with a bachelor’s degree in business and master’s degree in accounting. Prior to joining WDI, he worked as an investment banking analyst at Salomon Smith Barney, and as a senior auditor at Ernst & Young. Most recently, Lee worked as a senior financial analyst at General Motors. Lee is certified public accountant in the state of Michigan. Mariana Orloff has a master’s degree in public policy and urban planning from UM. She has worked as a consultant and researcher for the Inter-American Development Bank, the World Bank, United Nations Development Programme and the Buenos Aires Ministry of Finance in Argentina. She is from Argentina. Dave Vannette earned a bachelor’s degree in ecology and environmental policy from Calvin College. After graduation, Vannette spent a year as a personal assistant to a business executive. He plans to apply to the Ross School PhD program this fall.

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Executive Education had its most successful year ever. The 34 programs Executive Education 10

ran in FY07 were the most ever as were the number of participants — more than 1,800. For the third straight year, the initiative covered its costs. Executive Education has strong partners in Croatia, Latin America and Turkey. It also debuted its first program in Latvia. The training programs in Rwanda were enthusiastically received, prompting government officials to increase the number from 6 to 11.

John Branch Talks About Services Marketing Professor John Branch is teaching a program specifically designed for the William Davidson Institute in Services Marketing. The program debuted June 28-29 in Chile and again from July 5-6 in the Dominican Republic.

John Branch

“This is the ideal time to add a services marketing program to our growing list of executive education program offerings,” says WDI Director of Executive Education Amy Gillett. “As an emerging market country evolves, its service sector expands. This course teaches managers best practices and strategic tools to succeed in this sector.”

Q:

You have said that post industrial economies are dominated by services and that the key to success is to know how to manage them and commercialize them. Could you give us some ideas why it is and how to do it? Branch: Services are intrinsically higher-

valued added and more profitable. Companies (and countries), therefore, are motivated to move away from land-based and manufacturing activities to services. Some might even argue that this is the ‘natural evolution’ of an economy. It follows that managers must know how to market and manage services. The challenge, however, is that the management and marketing tools which most have learned were developed in a world of goods, and are most often not appropriate for services.

Which are the keys to Services Marketing? Branch: The logic is quite simple, really.

It begins with the fact that goods and services are fundamentally different. These differences cause strategic challenges which are specific to services. And these challenges require specific services marketing and management tools. The keys to Strategic Services Marketing Management, therefore, are: ■ Understand the differences between goods and services ■ Appreciate the specific strategic challenges ■ Develop the marketing and management tools for addressing these strategic challenges How does it impact final results? Branch: In a competitive business world

— one which is becoming more and more global in nature — expertise in Strategic Services Marketing Management is a competitive advantage, and, before long I suspect, a basic requirement of all organizations. What are the main trends in the area, and their impact on strategic management? Branch: One interesting trend can be seen in

manufacturing industries, in which very traditional manufacturing companies are augmenting (usually very profitably) their production with services, and, in some cases, switching their strategic focus entirely to services. Another interesting trend is the focus on making services more experiential. That is, making every commercial transaction an experience, almost like a theatrical production.

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Could you explain further the 4I model, and how companies can apply it with measurable results? Branch: The 4 “I” model is one model

for categorizing the many differences which distinguish goods and services. The 4 I’s are: intangibility, impossibility, inseparability, and inconsistency. The model helps an organization understand itself and its activities, and identify the strategic challenges which it faces. Which are the main tools to manage intangibility, and where is it possible to apply them in a company? Branch: The two main challenges which arise from intangibility are: 1) the differences in the consumer ‘purchasing and consumption’ process; and 2) the differences in promoting and pricing services. Understanding these differences, therefore, is paramount to a services organization.

One of the main challenges of intangibility is price fixing. How can you do that? Branch: Traditionally, fixing a price is based on costs, competitors’ prices, and consumers (the 3 C’s). Because a service is intangible, each of these bases becomes more difficult. Competitors’ prices are more difficult to establish because services are more heterogeneous, services companies are often unwilling to give prices upfront, and prices are not always stated.

What kind of companies should be interested in applying this new approach? Branch: The tools of Strategic Services Marketing Management are important to all companies. In the past, managers made a great distinction between goods and services. “You either sell goods or you sell services.” This distinction, however, was debunked in

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Managers participate in the WDI SMP in Riga, Latvia.

the 1980s when managers realized that all companies are in the business of selling products, with products containing both goods components and services components. Some products are very goods dominated, like salt or laundry detergent, and others are very services dominated, like maintenance or financial planning. But even fast moving consumer goods have a services component — a guarantee, which as a ‘deed,’ is a type of insurance, and very much a service. Adopting this approach, therefore, forces companies to recognize that Strategic Services Marketing Management is absolutely fundamental.

WDI Debuts First Program in Latvia WDI ran its first Executive Education program in Latvia. Due to the overwhelming demand, another Strategic Management Program in Riga is planned. In cooperation with the Stockholm School of Economics in Riga, WDI organized a Strategic Management Program (SMP), an intensive, two-week executive education program designed for high potential and senior-level managers that began May 21. Many of the cases and examples used during the program were based on the Institute’s experiences with companies that operate in emerging markets around the world. The

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program combined both theory and practice. The SMP enabled participants to acquire a broad, cross-functional approach to general management. Participants left the program with an improved skill set and fresh ideas for approaching critical business issues. Upon completion of the program, participants received Strategic Management Program certificates issued by the William Davidson Institute and the Stockholm School of Economics in Riga. “Our Strategic Management Program in Latvia received excellent reviews from the participants,” said WDI Executive Education Director Amy Gillett. “We plan to run the program again in the spring of 2008 along with our partner, the Stockholm School of Economics.” One participant said: “This was an intensive and condensed program that allowed us to cover a lot of material. It was a very valuable two weeks!”

SMP To Return to Slovakia WDI will conduct its Strategic Management Program in Slovakia next spring. “We’re pleased to be running the Strategic Management Program in Slovakia in 2008,” said WDI Executive Education Director Amy Gillett. “The previous SMP we held there, in 2004, was very well received and drew a great mix of multinational and local companies as well as NGOs.”

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The program will be similar to the previous SMP, except for a slight change in module topics, Gillett said. The modules will be Marketing, Organizational Behavior, Finance, Strategy, and, instead of HR Strategy, there will be “Corporate Social Responsibility and Cross-Sector Partnerships.” The quality of the Strategic Management Program is unmatched in the region, Gillett said. The program will feature professors from the top-ranking Ross School of Business at the University of Michigan and other leading U.S. and European business schools. Five participants will receive Teeter Scholarships, full tuition awards granted on a competitive basis to managers of non-governmental organizations and small, regional firms. The Teeter Scholarships are named in memory of Robert M. Teeter, an advisor to U.S. presidents from 1968-1992 and a WDI board member. WDI will partner with Pontis Foundation, an independent, nonprofit organization operating both in Slovakia and abroad. It focuses on strengthening NGOs in Slovakia, promoting corporate philanthropy and corporate social responsibility, and assisting in democracy building projects abroad.


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In the past six months, Development Consulting Services Director Khalid Al-Naif has re-staffed 12

and re-engineered the initiative. Al-Naif, who joined WDI in January after a long and successful career in banking and international development, hired two experienced program administrators in Don Richardson and Ayako Ariga. The three have begun expanding the DCS portfolio and increasing the initiative’s profile around the world. “I’m very happy with the progress Khalid and his team have made,” WDI Executive Director Bob Kennedy said. “They are building on WDI’s strength in higher education reform and SME development. But the new team also brings new competencies to grow the initiative in areas such as policy reform, project management, and monitoring and evaluation.”

Management of Jordanian Natural Resources Target of WDI Project WDI has signed a three-year agreement with Higher Education for Development in Washington to implement the Jordanian Education for Water and Environmental Leadership (JEWEL) project. Higher Education for Development, as part of the American Council on Education, funded the project through a cooperative agreement with USAID.

(JUST); the University of Jordan; and the Jordan River Foundation. The JEWEL partnership focuses on developing leaders at all levels in the public, private and community sectors who understand how to use and how to develop new decision-support tools for natural resources management. The project will develop a masters of science degree in Integrated Natural Resource Management to train future leaders in applied Natural Resource Management. The focus of the project will principally be on water since Jordan is among the countries with the greatest water shortage. It also will develop modules to train mid-level private and public sector leaders on the development of optimization models and other tools, as well as develop an interdisciplinary course on salient natural resource management issues that will be required for undergraduate students at JUST and the University of Jordan. Wajih Owais, president of JUST, said JEWEL “is designed to empower leadership and decision making, and to create resources and knowledge networks to improve decision-making in integrated natural resources management in Jordan.”

Citadel Amman, Jordan

Partnering with WDI will be: the Erb Institute for Global Sustainable Enterprise at the University of Michigan; UM School of Natural Resources and Environment; the Center for Sustainable Global Enterprise at Cornell University’s S.C. Johnson Graduate School of Management; the Jordan University of Science and Technology

Khalid Al-Naif, director of Development Consulting Services at WDI, said that the JEWEL project goes beyond training and incorporates the principles of integrated natural resource management. He said the program balances hard and soft sciences, merges research and development, sets up a system for adapting and learning; focuses the right type of science at the right level, and changes scientific culture and organization. For example, JEWEL will develop

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a research center and lab where academics, practitioners, policy-makers, entrepreneurs and community leaders can work collaboratively to develop sustainable business models, optimization tools, research and data. “It will also create suitable spaces, physically and virtually, for sustaining the collaboration,” Al-Naif said. “It will bring in U.S. and other international models and state-of-the-art applications for use in the classroom and by practitioners. The JEWEL partners will translate academic research into formats appropriate for all users of natural resources.”

WDI Partners with BearingPoint The William Davidson Institute has partnered with the leading global consulting firm BearingPoint Inc. for the U.S. Agency for International Development (USAID) program, Support for Economic Growth and Institutional Reform (SEGIR). As a subcontractor for BearingPoint for the next five years, WDI is part of the consulting giant’s consortium that will bid on work for the Global Business, Trade, and Investment Services II (GBTI II) program, which is associated with SEGIR. Khalid Al-Naif, director of WDI’s Development Consulting Services, said he is pleased to be affiliated with BearingPoint and ready to leverage the Institute’s in-house experience and expertise in policy reform. “I’m expecting a good deal of work to come out of this,” Al-Naif said. “From here on we’re going

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Students at the Almatya Marketing Center in Kazakhstan

to have the opportunity to be involved in much bigger projects all over the world.” The primary program objectives for GBTI II focus on devising and implementing robust strategies to promote real economic growth, reduce poverty, graduate transitional countries from aid to trade, promote open competitive markets, develop the private sector, and mobilize private financing sources to supplement and eventually replace development assistance. GBTI II contractors will provide a full range of services to USAID missions and to USAID in Washington, D.C. in substantially all major areas of business, trade, and investment development and reform. The principal advantage of this competitively awarded indefinite quantity contract is that it provides a more efficient response to the needs of USAID missions overseas by establishing a competitive bidding process between only pre-approved GBTI II contractors. These contractors compete for individual contract requests on the basis of technical and cost proposals that are evaluated by USAID missions. Over the planned 2007-2012 implementation period of the GBTI II, USAID has projected that up to $3 billion of contracts could be issued.

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Doors Open at Kazakhstan Marketing Center A center designed to improve marketing expertise in Kazakhstan has opened, the result of a partnership between the International Academy of Business (IAB) in Almaty, Kazakhstan, and the University of Michigan’s William Davidson Institute (WDI). The project was under the administration of Higher Development for Education (HED) and funded by the U.S. Agency for International Development. Under the leadership of Olga Kuznetsova, and Alyona Penchukova, the president and director of IAB, respectively, the center forms a bridge between the academy and business community. It provides opportunities for IAB students and faculty members to develop professionally. IAB, a leading management school, has more than 2,000 students across its undergraduate, MBA, and DBA degrees. The marketing center has already conducted a multi-week marketing research project for an Almaty-based computer company. Ten undergraduate students were involved, all of whom were then placed in summer marketing internships.

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Also, John Branch, a marketing professor at Michigan’s Ross School of Business and director of educational outreach at WDI, and Tom Baker, a WDI consultant, conducted several marketing seminars in May in Almaty, both for students and professors. A marketing textbook is currently being translated, which will then be used internally as well as sold by the marketing center. Planned activities at the center include marketing internships in top international and local companies, a mentoring program, marketing seminars and conferences, and marketing competitions. “These kinds of activities will allow students to gain practical skills for the marketplace and, additionally, will enable professors to make their materials more interesting, localized, and current,” Baker said. Since its independence in 1991, Kazakhstan has grown at a fast pace. Almaty, the one-time capital and current cultural, educational, and commercial center of Kazakhstan, is brimming with upscale restaurants, luxury clothing shops and Western-style malls. “This rapid development, however, is not matched in business training,” Branch said. “And consequently, there is a sort of vacuum for well-educated, professional young managers, especially in the field of marketing which, during the Soviet period, was taboo.” “It is exciting to see the marketing center take shape,” said another WDI consultant, Max Yutsis. “Its impact can be seen almost immediately.”

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A new career center has been established at Algeria’s Institute of National Commerce (INC), a result of a Middle East Partnership Initiative (MEPI) in higher education between INC and the University of Michigan’s William Davidson Institute (WDI). The center is Algeria’s employment service for students and will fulfill the need of Algeria’s growing economy for well-educated managers. Historically, the hiring of recent college graduates had been via informal networking among friends, family and colleagues.

Career Center students in Algeria

The project is funded by the Higher Education for Development (HED) which is part of USAID’s Bureau of Economic Growth. The partnership, called Educating Managers, Promoting Linkages and Opportunity Integration — or EMPLOI — commenced implementation during January 2007. Tom Devlin, the WDI consultant, visited INC and assisted in developing a framework for the career center. He worked with Abdenour Slaouti, INC project director and a professor. Slaouti said that “the INC faculty and students are very excited about the new career center, which will serve as a bridge between students and employers.” Khalid Al-Naif, director of Development Consulting Services at the William Davidson Institute, said that Algeria’s population will continue to increase at the relatively modest rate of 1.5 percent a year, but the working population will grow more quickly because of the country’s young demographic profile. “As a result, unemployment will continue to be a chronic problem despite indications in official statistics that the jobless rate has fallen sharply over the past two or three years,” he said. “The new career center offers a structured means of linking private sector employers to young entrants into the workforce who are interested in internships and postgraduate employment. This will create more opportunities in the private sector and stop the exodus of Algeria’s

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most talented professionals to Europe and North America.” After a comprehensive selection process, Ali Belhkiri was hired as the center’s part-time director and Nassima Arheb was named his assistant. The combination of Belkhiri’s extensive business and teaching experience, along with his commitment to students, places him in an excellent position to build the career center at INC into a model for other institutions of higher learning, Al-Naif and Slaouti said. Objectives for the career center’s first year of operation include: identifying summer employment opportunities; identifying post-graduate employment opportunities; promoting and marketing the career center to students and employers; gathering information about the labor market and learning about the needs of employers; and, establishing a mentoring network for female students with female managers. In just its first few weeks of operation, the career center in Algeria has already made substantial progress with 60 students submitting their resumes and a growing number of employers posting job announcements. In addition, the center has already made contact with managers to begin establishing the foundation of its female mentoring network. The center held its first career fair in June, a two-day event designed to give students and employers an opportunity to meet and exchange information.

New Rector Selected for SFB in Rwanda Krishna Kistan Govender, the academic director at the University of South Africa School of Business Leadership, has been chosen at the new rector at the School of Finance and Banking (SFB) in Kigali, Rwanda. He takes over from interim Rector Gerlinda Melchiori, a former director of development at the University of Michigan, who served in the top post at SFB for three months. In June 2006, WDI signed a five-year agreement to provide capacity building for the SFB

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in Kigali. The government wants to transform the school into an internationally accredited, regional center of excellence delivering high quality management education programs. There are five parts to WDI’s work at SFB. They are: ■ ■ ■ ■ ■

Administrative restructuring Curriculum reform Development of high potential faculty Engagement with the business community Strategic plan for financial sustainability

In the past year, WDI has also delivered four workshops for faculty and administrators at SFB. Govender started his career as a teacher in 1979 at the University of Natal in Durban, South Africa. He worked as a teacher for seven years before joining the Department of Business Management at the University of the Transkei in Umtata, Eastern Cape, in 1986. He held various positions at the University starting off as Lecturer, moving to senior lecturer and Acting Head of the Department 10 years later. In 2000 he was appointed vice dean of the faculty of Economic Sciences. A year later, he was offered a new position at the Wits Technikon in Johannesburg as executive dean in the faculty of Business Management. He served there until 2005, when the Technikon was merged with the Rand Afrikaans University. He served as interim executive dean for the business management faculty at the University of Johannesburg for one year before joining SBL in 2007. Govender, who has extensive senior academic management experience, has a PhD in Marketing from the University of Cape Town. He also has experience in implementing and managing academic capacity building projects in South Africa. “We have spent the past year building a solid foundation,” WDI Executive Director Bob Kennedy said. “Hiring a new rector and starting the curriculum reform were key pieces. We look forward to working with Professor Govender to build a strong, internationally-recognized school.”

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Cross-School Collaborations Continue WDI has long supported international activities at U-M. But until fall 2006, the vast majority of this support was focused on activities at the Ross School of Business, the Ford School of Public

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Policy, the Department of Economics, and several joint degree programs. The Institute’s board of directors wanted to expand beyond these traditional activities and asked Executive Director Bob Kennedy to engage with various schools to better understand their international priorities and to evaluate if these programs fit with the Institute’s mission and existing capabilities. Kennedy was interested in funding programs that focused on development or policy issues in developing countries, with the potential for high impact. In fall 2006, WDI selected its first two collaborations: ■

Research on global health issues and student internships at the School of Public Health; and

A project to improve clinical and administrative performance at a Uganda hospital sponsored by the Medical School.

In spring 2007, WDI added funding for a second program at the Medical School for work in Ghana that will begin in FY2008. The three distinct programs at the School of Public Health are off to a good start, Kennedy said. The first program involves internships in the Cancer Epidemiology Education in Special Populations program, aimed at master’s degree students with a special interest in research in international settings. The program has partial funding from the U.S. Department of Health and Human Services. The funding from WDI has supported expansion of the program. Institute funding also allowed the expansion of a summer internship program at the school’s Center on Global Health (CGH) and its Global Health Interdepartmental Concentration (GHIC). The GHIC focuses on public health issues resulting from the globalization of the world’s economy.

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Also at SPH’s Center on Global Health, WDI provided funding to support research that leads to better understanding of global public health interventions and the enterprise solutions that makes programs successful. WDI continues to look for ways to collaborate with the School of Public Health, including opportunities that may arise from contracts and grants won by the Institute’s Development Consulting Services. At the Medical School, WDI has funded an intensive clinical and administrative engagement at the Virika Hospital in Fort Portal, Uganda, about three hours from the country’s capital city of Kampala. A relationship has been developed with A Mountain of the Moon University in Fort Portal. The first part of the engagement was a Multidisciplinary Action Project (MAP) with a team of Ross MBA students this past spring. The students spent five weeks at Virika. At the same time, a medical student and a physician from the Medical School reviewed the clinical practices of Virika and came up with a set of recommended changes. “The teams identified some basic challenges the hospital faces such as data gathering, understanding of costs of certain procedures, and how to price in a way that is self sustaining,” said Paul Clyde, director of the evening MBA program and a faculty member at the Ross School. “Based on these findings some priorities were recommended.” Clyde said the combination of medical school and business school teams has had a significant impact on the overall recommendations so far. Clyde will return to Virika this summer to conduct a two-day workshop with the leadership of the hospital determine the direction the hospital will take over the next few years.

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The medical and business school teams will then work with the hospital to achieve the goals that come out of the workshop. Already planned for the remainder of the year are student projects on both the business and clinical sides focusing on data gathering and analysis. In the next three years, teams of physicians and students will make three trips per year, focusing on one particular clinical area during each visit. Also, physicians or administrators from Virika will come to Ann Arbor to observe clinical practices at UM Hospital. A Mountain of the Moon University will be incorporated in projects related to the management of the hospital. The information developed from Ross School faculty visits, the MAP project and summer internships will provide the material and ideas for curriculum and programs that A Mountain of the Moon could offer to health care provider customers. WDI funding for a second program was recently approved. Beginning in FY2008, the Institute will sponsor a program in Ghana with the Medical School. It will focus on pediatric medicine and will include training for staff and physicians in Ghana, exchange programs with doctors in Ghana visiting UM and a project aimed at retaining local physicians. “The first two programs are off to promising starts,” Kennedy said. “Health care delivery is a major issue in most developing countries. Our partnerships with the schools of Public Health and Medicine are already making a difference on the ground. I look forward to learning from these experiences and using the findings in other settings — both for new geographies and by incorporating them into WDI’s other activities, such as Research, Educational Outreach, and perhaps even Development Consulting Services.”

Virika Hospital MAP team members in Uganda.


speaker series WDI recently hosted 6 guest speakers as part of its Global Impact and Social Enterprise speaker 16

series. The Global Impact Speaker Series features leading thinkers who work in emerging markets. The goal of the series is to spur discussion around development and developing country issues. The S U P P O R T I N G

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Social Enterprise Speaker Series features leading academics and practitioners in the social enterprise field. Visitors discuss the expanding role of NGO’s and corporations in achieving social impact and interact with the growing number of University of Michigan students who are interested in social enterprise. In addition to their talks, the speakers also sat down for one-on-one video interviews which can be found at: www.wdi.umich.edu/Publications/VideoAudio.

Theodore Kattouf, former U.S. ambassador to the United Arab Emirates and Syria, said cross-cultural understanding helps the United States achieve influence in the Middle East. Kattouf, the WDI Global Impact Speaker on April 4, said that nongovernmental organizations inhabit a special public space. “Their services provide a bridge between officialdom as well as between other societal elements — individuals, institutions and corporations,” said Kattouf, president and CEO of AMIDEAST, a nonprofit that aims to strengthen understanding between Americans and those living in the Middle East and North Africa. “I think NGOs have great potential to make a difference.” AMIDEAST was founded in 1951 and is headquartered in Washington, D.C. The private, nonprofit provides English language and professional skills training, educational advising, and testing services to hundreds of thousands of students and professionals in the Middle East and North Africa.

Ed Potter

, director of Global Labor Relations and Workplace Accountability at Coca-Cola, outlined during his March 7 Global Impact talk how globalization and other factors make his work challenging. In the past, Potter said, someone in his position was solely concerned with collective bargaining. But the growth of non-governmental organizations (NGO) and the Internet have changed all that. Local issues escalate quickly and public expectations for large companies like Coke are higher, he said. “Most of my job is not about labor relations but about things such as child labor laws and workplace rights,” Potter said. Some of the changes he has made since joining Coke in 2005 is to establish an early issue identification system, resolve workplace rights issues quickly, create alignment with bottlers, and engage external critics. “We are accountable for what happens in our workplace or that of our suppliers,” he said.

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Paul Farmer entertained a capacity crowd at Rackham Auditorium on Feb. 12, mixing humorous anecdotes with the serious talk of treating HIV patients in Haiti and Rwanda at a reasonable cost. He also challenged research universities to do more outreach to communities. Farmer, co-founding director of Partners In Health, was the special guest at a lecture sponsored by the Ross School of Business and the William Davidson Institute. In addition to filling the 1,100-seat auditorium, Farmer’s talk — “Building a Health Care Movement: From Haiti to Rwanda” — also drew large crowds to eight locations around Ann Arbor, Detroit and on campus to view the live video feed. Farmer, the subject of the New York Times bestseller, “Mountains Beyond Mountains” by Pulitzer Prize-winning author Tracy Kidder, spoke about his work in Haiti. He has worked in the Caribbean island nation since 1983, living in a squatter’s settlement.

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Partners In Health (PIH), an international charity organization that provides direct health care services and undertakes research and advocacy activities on behalf of those who are sick and living in poverty, now works in nine regions across the country and ranks as one of the largest nongovernmental health care providers in Haiti. It is also the only provider of comprehensive primary care, regardless of ability to pay, for more than half a million impoverished people living in the mountainous Central Plateau. PIH’s success in Haiti led to invitations from several African countries. “I said we couldn’t in good conscience say yes unless we found partners,” Farmer said. PIH, with help from the Clinton HIV/AIDS Initiative (CHAI) and private donors, began working in two rural districts in Rwanda in April 2005 to launch HIV care and treatment. In a 2006 Fortune magazine article, former President Bill Clinton predicted that Farmer would one day win a Nobel Peace Prize. “Rwanda is a very inspiring place,” Farmer told the crowd. “With the right help we knew what to do. Rebuild this place. Train local people to do the work as we had done in Haiti. Take care of the sick from the beginning and it can’t be for just one disease or two like HIV and tuberculosis.”

G. Pascal Zachary, a journalist, spoke Feb. 7 as part of the Global Impact Speaker Series. His topic was why Africa was poor. Zachary, a journalism professor and New York Times columnist, first visited Africa in 2000. He said it is the only part of the world where poverty is on the rise.

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“There are 75 million more Africans living in poverty than 10 years ago,” he said. “The percentage of Africans living on $1-2 a day is growing.” Zachary has focused recently on African agriculture and what role it might play in lifting the continent up. “Since independence some 50 years ago, African agriculture has been a very poor performer,” he said. “The consensus is if African farmers can improve productivity, you can raise incomes very quickly.”

Mari Kuraishi, president of the GlobalGiving Foundation, also spoke Feb. 7 but as part of the Social Enterprise Speaker Series. GlobalGiving uses the Internet to create a highly efficient marketplace, enabling more funding to reach projects throughout the globe, and, at the same time, providing a more transparent, engaging way for donors to give. “We deliver value to both the entrepreneur in the field and also the donor,” she said.

Timothy Zak, the co-director

G. Pascal Zachary,

of Carnegie-Mellon University’s Institute for Social Innovation (ISI) and former CEO of the Social Innovation Accelerator in Pittsburgh, spoke Jan. 24 as part of the WDI Social Enterprise Speaker Series.

middle. Timothy

far left. Mari Kuraishi, Zak, right.

Zak, who also is executive director of CarnegieMellon’s Heinz School of Public Policy and Management branch in Adelaide, Australia, said innovation is the “intersection of ideas and implementation that yields economic and social benefits.” He listed eight possible changes in the future that would benefit social enterprises. They include: social innovation becoming an academic discipline; global social innovation efforts getting tracked; Wall Street using social impact indicators to value companies; governments creating fertile ground for social innovators. “Business leaders of the future must figure out how to navigate this space,” he said. “It’s one of the most interesting opportunities to make your mark in the world.”

The typical donors using Global Giving’s platform give $150 and are usually in their 30s, slightly younger than most donors, Kuraishi said. There are usually 200-400 projects listed on Global Giving’s site at any one time and all have been vetted to ensure they are doing the work they say they are and the money is being used properly. Most projects come from approved sponsors such as Ashoka and the World Bank. “This ensures a diversity of projects as well as an accredited pool of social entrepreneurs,” Kuraishi said.

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Paul Farmer


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in 2007. The projects, in conjunction with the Ross School

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of Business, allow MBA students to work full-time with international organizations to create new business models, research new directions, and strategize for the future.

WDI identifies and develops the project with the host organization. The Institute also provides financial and faculty support. On some projects, WDI may also provide logistical and administrative support. Here is a brief synopsis of each project. the Indian subsidiary of Unilever, has identified rural areas as a strategic priority. Shakti, which Hindustan Lever launched in 2001, is an entirely new model designed to reach small villages, create livelihood opportunities and enhance the quality of life in communities that are not part of is traditional market reach. The students — Dawnette Edgerton, Erika Lewis, Orquidea Escrojin, Jean Henning, and Preetum Chenoy — worked on a business model for Shakti to help strengthen its offerings in the community and enable effective and focused communication in otherwise media-dark areas. H I N D U S TA N L E V E R,

Members of the Clinton Foundation MAP team in Papua

C A R E C E N T R A L A M E R I C A is committed to evolving its current NGO model to a model that incorporates both for-profit (revenue generating enterprises, or RGEs) and non-profit entities. The students — Evan Appleby, Falguni Mehta, John Gearen, Shannon Baker, and Shara Senior — used WDI’s report, “Exploring Structural Options: Strategic Management of Revenue-Generating Enterprises,” as a basis for providing greater

New Guinea.

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detail on the key structural and operational issues that need to be explored as CARE develops an entity to manage a growing portfolio of RGEs. is the world’s leading eye care hospital with a mission to eradicate needless blindness. The students — Annie Ju, Daniel Korich, Jacqueline Hurley, Kevin Dundek, and Rishiraj Das — focused on the development of financial statements that will be used as important determinants of the decision-making process. These metrics will help Aravind transfer best practices among its many facilities. A R AV I N D E Y E H O S P I TA L

A second A R A V I N D project had two broad objectives: to investigate process improvement in the retina clinic and outpatient facility of Aravind Eye Hospital; and to create a framework for the hospital, and develop their internal capability to undertake ongoing and continual process improvement. The students on this project were: Ambra Heard, Timothy Johnson-Aramki, Emily Heneghan, Julian Diaz Renyi, and Sarah Gearen. The V I R I K A H O S P I T A L MAP in Uganda is the first in a series of projects that will involve both the medical school and the business school at UM. The first project was designed to develop a business plan that would allow the hospital to operate independently possibly by building on the lessons learned from UM’s work with Aravind. The students on the project were: Brooke Reilly, David Erbstein, Sahana Shetty, and Vikram Vaishya.

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is a non-profit global venture fund that uses entrepreneurial approaches to solve the problems of global poverty. On this project, the students — Jennifer Anderson, Anusha Venkatachalam, Brian Harley, and Daniel Wang — developed an entry strategy for Acumen to support their goal of investing in sustainable energy enterprises providing energy goods and services to the poor in India.

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The S C O J O F O U N D A T I O N is broadening global access to reading glasses and training local entrepreneurs. The MAP showed Scojo how to best design and implement a franchise model that leverages infrasturcture of existing organizations. The students — Anne White, Cassie Luxa, Faizan Husain, Karen Biddle, and Matthew Friedman — analyzed this strategy, developed a return on investment for partners interested in purchasing a franchise, and provided recommendations on the development, pricing and strategy for the model.

in Uganda.

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partners with governments and drug manufacturers to make treatment for HIV/AIDS more affordable and to implement national programs to reach patients in need. For this MAP, the students — Divyesh Modi, Emily Reyna, Laura Chin, Amit Nangalia, and Purvi Ravani — prepared an analysis of the current logistics system, particularly surrounding distribution, and where bottlenecks exist.

H I V / A I D S I N I T I AT I V E

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Scojo Foundation MAP team members in India. Two members of the CARE MAP team at CARE’s Village Bank in Guatemala. Virika Hospital MAP team members

Hindustan Lever MAP team members in India.


internships 20 S U P P O R T I N G

Assignment: The World

I N T E R N AT I O N A L A C T I V I T I E S

AT

M I C H I G A N

From New York City to South Africa, Cambodia to Malawi, 23 University of Michigan students have spread out across the world for WDI-sponsored internships in a number of fields.

The students’ work assignments vary, from writing business plans to working on scaling up production of a device that can carry large amounts of water over all sorts of terrain. The summer internships are broken up into two categories — self-generated and initiative driven. Students who chose to do a self-generated internship identified and contacted an organization in an emerging market that is doing innovative work. They co-defined an opportunity, received a commitment from the organization, and submitted a proposal to WDI. Students who chose a WDI initiative driven internship partnered with an organization identified by the Institute that is doing work related to one of its three research initiatives: social enterprise, base of the pyramid, and globalization of services. Last summer, 20 students worked around the globe for internships sponsored by WDI. Juan Carlos Quintero who is working with the cement giant Cemex in Mexico said some of the things that he finds interesting about what he is doing include learning about how a for-profit company thinks and works in a non-profit initiative, and what it is looking for. “The most interesting thing about my internship is that it uses theories from different disciplines but requires effectively combining them to deliver results in a real — not only an academic — project,” Quintero said. “Also, talking to people in the field and getting a sense of the gap between theories of program evaluation, the company’s perspective and the beneficiaries’ reality,” he said. “How far apart are they in a “developing” country framework? And I’m looking forward to getting to know more about Mexican culture, its history and its people.”

INITIATIVE DRIVEN INTERNSHIPS

Acumen Fund

DMC

NEW YORK CITY

GERMANY

Kipp Baratoff and Molly Christiansen are acting as research consultants for the fund, working on the health and energy portfolios to develop metrics, perform due diligence, and support high-potential investments.

Kirsten Noland is formulating a growth strategy for the Stuttgart-based IT services firm. Noland is looking at growth as it relates to markets as well as where to set up locations.

Ashoka: Innovators for the Public BRAZIL

Renata Sonores is shaping the scaling-up strategies of selected social entrepreneurs and their organizations in order to advance system change ideas designed to serve low income producers and consumers through sustainable business models.

CARE Central America E L S A LV A D O R

Blair Miller, Steve Spaulding, Shara Senior are developing the business plan for a holding company that will invest in small businesses in Central America.

Cemex

E+Co NEW YORK CITY

Erin Cready is analyzing and recommending effective training techniques to provide business development support to adult learners. She is recommending components of a training curriculum, creating a training template that incorporates disparate business development resources, and assessing approaches that build accountability for knowledge development and transfer within E+Co.

EquaTerra NEW YORK CITY

Aparna Sundaram is supporting key strategic activities while simultaneously providing firsthand insights into, and practical experience with, today’s global outsourcing market and its leading buyers and service providers.

MEXICO

Juan Carlos Quintero is working with the cement giant Cemex in Mexico to expand their Patrimony Hoi program, which aims to make housing affordable to low income populations. His project will involve both a strategic assessment of the initiative’s business model and an evaluation of its poverty alleviation impacts.

www.wdi.umich.edu

IDEAAS (Institute for Development of Natural Energy and Sustainability) BRAZIL

John Gearen is conducting a customer profile study, drafting a business plan, collecting data to form the development of an appropriate calculation of CO2 emission reduction, and documenting the technological and business innovations realized through the project.

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Minlam Asset Management

S E L F- G E N E R AT E D I N T E R N S H I P S

NEW YORK CITY

Jen Anderson is researching the equity market for MFI and other low-income financing entities such as low income mortgage originators and consumer finance companies focused on the base of the pyramid. In addition, she is identifying target countries for the fund and identifying the specific value propositions to the MFIs.

NextServices

Mitra Technology Foundation

Hippo Water Roller

INDIA

SOUTH AFRICA

Chawla Kaveesh is writing a business plan for Mitra Technology Foundation’s new online platform — microfinancejobs.com — which is designed to recruit microfinance professionals. This project is aimed at creating a sustainable source of revenue for Mitra Technology Foundation.

Cynthia Koenig is working with Hippo Water Roller, an organization that has designed a product that can carry large amounts of water more easily. Children and the elderly can manage a full roller over most types of terrain. Approximately five times the normal amount of water can now be collected in less time with far less effort. Koenig is working with the organization to scale up the distribution and production of the water roller.

INDIA

Munish Ghandi is focusing on product development, additional investment capital from venture capital and private equity funds, and the development of a market expansion strategy.

Scojo INDIA

Nina Henning is evaluating the impact of the Scojo Foundation on entrepreneurs, consumers, and partners. She is analyzing Scojo’s current data on customers and entrepreneurs in order to evaluate economic and social impacts; identifying gaps in the foundation’s current data collection and recommending priority indicators and metrics for further data collection.

Vital Wave Consulting COSTA RICA

Michelle Brown is reviewing and analyzing data to identify trends and correlations that contribute to the development of a unique and powerful database that will enable the market sizing and forecasting of base of the pyramid markets.

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MacDonald Associates BRAZIL

Henrique Costa Oliverira is conducting research for MacDonald Associates on the alternative fuel experience, specifically ethanol, in Brazil.

National Smallholder Farmers Association

The Mountain Institute N E PA L

Jeff Martin is conducting a feasibility study and business plan for ecotourism in Katmandu.

Teang Tnaut

MALAWI

CAMBODIA

Jessica Goldberg is examining the relationship between credit, insurance, and technology adoption for small farmers in Malawi. Specifically, she is focusing on the risks small farmers face in order to identify the applications of credit, insurance, and technology.

John Scott Railton is training local low income populations in Cambodia to use GPS tracking systems to map the rural areas around Phnom Penh, improving the community’s capacity to collaborate in small scale improvement projects.

ServLife International SOUTH AFRICA

Patrice Harduar is working with ServLife to develop a sustainable enterprise that helps HIV/AIDS victims create small sewing businesses. She is writing and evaluating the business plan for this project.

www.wdi.umich.edu

University of South Africa SOUTH AFRICA

Roxanne Ryan is working at the Johannesburg university, helping to establish an entrepreneurship academy in Soweto. Responsibilities include developing a needs assessment, writing curriculum, and potentially leading a class.


> CONTINUED FROM COVER

22

The conference is “a rare opportunity to be able to cash in and understand in a much deeper way what has happened over the past two years in a setting that will be a more intimate, ‘less-is-more’ deeper understanding of some of the important questions and really glean something usable out of it,” he said. Mark Milstein, director of the Center for Sustainable Global Enterprise at Cornell, said the time is right for another BoP conference.

B o P

“And that’s a tremendous learning opportunity.”

Milstein, a conference plenary speaker,

The conference will be organized into three “tracks,” each of which focuses on an important and timely issue facing organizations that are interested in operating at the base of the pyramid. The three tracks are:

“Other conferences have a smattering of subject matter thrown together and held together by a loose, weak story,” he said. “I think what we have here are plenary sessions that will set us up as attendees to focus on a specific area. Then we have concurrent tracks that are running to really dive deeply into that particular topic area. That will produce a level of dialogue and interaction that will actually be valuable for most people.”

Cultivating a deeper awareness of the landscape at the base of the pyramid

Identifying the real needs of the poor and the resource gaps they currently face

Examining how to enhance existing capabilities and how to build new local capacity at the BoP

Exploring the best leverage points for employing enterprise-based approaches and social entrepreneurship at the BoP

Evaluating the development implications of a BoP approach to poverty alleviation

Examining how the BoP approach fits relative to other development strategies for poverty alleviation

Understanding the role and boundary conditions of enterprise-based approaches and the private sector in poverty alleviation

Designing appropriate frameworks to measure success in this space

Developing new organizational capabilities needed for successful BoP ventures

S P E A K E R S

Kobus De Klerk Global Lead The Solae Company Alonzo Fulgham COO U.S. Agency for International Development Helene Gayle President and CEO CARE USA Al Hammond Vice President World Resources Institute Scott E. Johnson Vice President SC Johnson & Son Robert Kennedy Executive Director William Davidson Institute Ted London Director of the BoP Research Initiative William Davidson Institute

Luis Alberto Moreno President Inter-American Development Bank Carter Roberts President and CEO World Wildlife Fund

“It’s been a while since the community got together to discuss BoP,” he said. “The last time it was done it was, ‘What is this space?’ Here we have an opportunity to come together to hear what we’ve learned so far, what are we really doing in the field, what have our experiences been, what’s succeeded and what’s failed.”

Understanding how to create and manage the organizational change needed to address the opportunities and challenges of serving BoP markets

Evaluating which kinds of alliances and partnerships are most effective in jointly achieving business growth and poverty alleviation

Developing the new capabilities required to effectively reach and serve the BoP space

The conference will feature a plenary session on each topic, as well as concurrent sessions that provide an opportunity for participants to engage cutting-edge thinkers on specific issues.

likes the conference design.

Prahalad, the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the Ross School and a Distinguished Fellow of WDI, and Hart, the Samuel C. Johnson Chair in Sustainable Global Enterprise at Cornell University and a Distinguished Scholar of WDI, lead an impressive list of conference speakers (see list of speakers at left). Hart said his talk will be about what has happened around BoP the past three years. “Having spent a fair amount of time out there with companies from different parts of the world, the whole idea of the BoP — it’s a moving target — so I think it’s important for us to understand the evolutionary path that this business concept is on and to see where it might be headed,” he said. He said the conference will be valuable because participants will come from different sectors. “One of the things that has become clear is that you can’t achieve success at the BoP by doing it alone,” Hart said. “The only way it makes sense to think about it is partnership, usually with civil society organizations, sometimes with government but definitely with partners. So for the conference, it’s enormously important that we have the full range of partners in the room.” Justin DeKoszmovszky of SC Johnson said the conference is a good opportunity for his company to talk about their work and hear what others are doing.

phase because there are NGOs, there are social entrepreneurs, there are MNCs, all of which are now interacting in this same space and coming at it from different angles,” he said. “Some are doing very similar things, some are doing very different things and we’re all skinning our knees. We’re coming up with different solutions to those challenges so it’s an opportunity to interact with folks who are working in this space and who are dealing with the some challenges that we’re surely dealing with in our BoP business.” He said the diversity and intimacy of the conference is what he finds most interesting about the conference. “Having a diverse set and also having a limited number of attendees gives an opportunity to interact with people at a relatively deep level and over a fair amount of time to really have a conversation where you can really exchange some deeper information rather than a quick business card exchange and have that be it,” he said. The conference also will feature three sessions that will enable interested parties to share their activities with other attendees. These organized “interactive sessions” are designed to let a set number of conference participants share their ongoing work with colleagues. Milstein said the conference has a chance to be very successful because it will bring many people together from different sectors and encourage collaboration. “It will really start to break down walls between disciplines,” he said. “It’s not clear what NGO activity is, what private sector activity is, what government sector activity is. None of these organizations can act as silos, as individual islands anymore. And so what we’re seeing in the field is real collaboration going on at all levels of initiatives and projects. “The conference will give a chance for those to be brought to light, to get people to think where does success come from, what leads to failure, and how we do things better.”

“It’s an interesting space that really requires that type of interaction at this

www.wdi.umich.edu

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Hart to Spend Year at Michigan S T U A R T H A R T , a leading thinker on the base of the pyramid and sustainable enterprise, will be on sabbatical for the 200708 school year at the University of Michigan.

“The two places where there’s the greatest concentration of work focused on things I’m interested in is Cornell and Michigan,” said Hart, the S.C. Johnson Chair of Sustainable Global Enterprise and Professor of Management at Cornell University’s Johnson School of Management. “And since I’m already at Cornell, Michigan was the obvious choice, given the people there and the work going on.” Hart said he will be at Michigan jointly with WDI and the Erb Institute for Global Sustainable Enterprise, a partnership between the Ross School of Business and the School of Natural Resources and Environment. The Erb Institute uses a collaborative approach to help business, government and civil society organizations to achieve meaningful progress toward sustainability. “I’m coming there to see if I can bring (the two Institutes) closer together,” Hart said. “There’s not a great deal of interaction even though there’s a great deal of connectivity. The Erb students are increasingly interested in the stuff that WDI is doing. There’s not a lot of tie-in there.” “Given that I know both cast of characters I thought I could play a role in bringing those two groups together and bring some synergy,” Hart said. WDI Executive Director Robert Kennedy said he is looking forward to collaborating more with Erb and working with Stu. “He is a leader in thinking about both sustainable enterprise and base of the pyramid,” Kennedy said. “His research and writing brings these two important trends together.” Hart said he will not teach while at Michigan but will be available to give talks around campus and lecture in class. He will also spend time

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writing and focusing on “where I want to go in the next 5-10 years.” He also said he would contribute to WDI’s BoP research initiative. “I’ll be there, I’ll be available to offer whatever insight or assistance I can to the program,” Hart said. Before joining Cornell in 2003, Hart was the Hans Zulliger Distinguished Professor of Sustainable Enterprise and Professor of Strategic Management at the University of North Carolina’s Kenan-Flagler Business School, where he founded the Center for Sustainable Enterprise and the Base of the Pyramid Learning Laboratory. Previously, he taught corporate strategy at the University of Michigan Business School and was the founding director of the Erb Institute’s MBA/MS Program (formerly known as the Corporate Environmental Management Program). Hart’s research interests center on strategy innovation and change. He is particularly interested in the implications of environmentalism and sustainable development for corporate and competitive strategy. He wrote the seminal article, “Beyond Greening: Strategies for a Sustainable World,” which won the McKinsey Award for Best Article in Harvard Business Review in 1997, and helped launch the movement for corporate sustainability. With C.K. Prahalad, Hart also wrote the pathbreaking 2002 article “The Fortune at the Bottom of the Pyramid,” which provided the first articulation of how business could profitably serve the needs of the four billion poor in the developing world. His book, Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World’s Most Difficult Problems, was published by Wharton School Publishing in March 2005. In it, Hart shows companies can become the catalyst for a truly sustainable form of global development—and profit in the process.

www.wdi.umich.edu

NEW ARRIVALS

Three Join WDI Staff WDI welcomed three new faces in the past six months. All three bring a wealth of experience in their fields and provide valuable knowledge to the Institute. The new employees are: D O N R I C H A R D S O N , Senior

Projects Administrator in Development Consulting Services, has been working in emerging countries since he left the Stanford Graduate School of Business in 1961. He was one of the first Peace Corps volunteers and worked with a fisherman’s co-op in Chile. He had spent 11 years with Citibank as the Senior Officer in Bolivia after having served previously in Colombia. Don worked with USAID in Honduras, was Chief of Party for two projects in Bolivia and Nicaragua, served with USAID in the Republic of Georgia as the Senior Advisor in Banking and Finance, in Jordan as the Senior Private Sector Advisor, and last year spent a year in the Marine/Army forward operating bases in Ramadi and Baquba in Iraq as the USAID Regional Representative. Don joined WDI early in 2007 and is overseeing projects in several countries including Rwanda, Algeria and others. joined the William Davidson Institute in March 2007 as Assistant Projects Administrator in Development Consulting Services. Ayako was formerly with the Japan Bank for International Cooperation, the financial institution of the Japanese government that is equivalent of USAID in the US. There as Ex-Post Program Evaluation Officer and later as Country Loan Officer for India and Turkey, she conducted various program evaluations, organized institutional capacity building seminars for the counterpart government officials, and led a loan appraisal team. Ayako earned a master’s degree in public policy from the University of Michigan’s Gerald R. Ford School of Public Policy and served as Policy Fellow at the Executive Office of the Governor of Michigan in Lansing while at school. She is an integral member of the team at the Development Consulting Services and oversees projects in Kazakhstan, Cyprus and others.

AYAKO ARIGA

is WDI’s new application programmer. He began programming with punch cards as a University of Michigan Aerospace Engineer student. After graduation, he worked as a spacecraft propulsion engineer at Hughes Aircraft, also performing spacecraft launch operations at the Kennedy Space Center and Cape Canaveral. Christopher later returned to Michigan where he entered the IT world as a software support tech, a college computer instructor, a desktop publisher and finally, once again, a programmer. And when the World Wide Web merged programming and content creation, he started on his web development path. He programmed web applications in the finance, manufacturing, contact management and mortgage industries before joining WDI in February 2007.

CHRISTOPHER SIMMONS

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07|08calendar 24

executive education Operations Management July 31-August 1, 2007 | Chile Sales Management September 6-7, 2007 | Costa Rica

Sales Management September 13-14, 2007 | Chile

Sales Management September 10-11, 2007 | Panama

HR Management Program October 2-5, 2007 | Costa Rica

Big Picture Marketing September 12-14, 2007 | Turkey

Big Picture Marketing October 15-16, 2007 | Turkey General Management Program October 15-26, 2007 | Croatia HR Network Workshop October 18-19, 2007 | Czech Republic

conferences

Talent Management October 24-25, 2007 | Chile

Innovation in the Third Sector: Sustainability and Social Impact August 16-18, 2007 | Sao Paolo, Brazil

Oracle Custom Program November 12-16, 2007 | Latvia

Business with Four Billion: Creating Mutual Value at the Base of the Pyramid September 9-11, 2007 | Ann Arbor, Michigan

Strategic Management Program April 7-18, 2008 | Slovakia HR Network Workshop April 17-18, 2008 | Slovakia

NON-PROFIT U.S. POSTAGE

PAID ANN ARBOR, MI

AT THE UNIVERSITY OF MICHIGAN

PERMIT NO. 144

William Davidson Institute 724 East University Avenue Ann Arbor, Michigan 48109-1234 Tel 734.763.5020 Fax 734.763.5850 www.wdi.umich.edu

Creating, aggregating, and disseminating intellectual capital on important business and policy issues in emerging markets

â–ź

THE WILLIAM DAVIDSON INSTITUTE


WDI Davidson Review Summer 2007  

The summer 2007 newsletter of the William Davidson Institute.

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