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Global MBA LATAM

Eight traits guide entrepreneurs at life's crossroads

Successful entrepreneurs think alike at life’s crossroads, the director of Thunderbird’s Walker Center for Global Entrepreneurship told graduates June 13 at the Global MBA for Latin American Managers commencement.

“Entrepreneurs are very much the same,” keynote speaker Robert D. Hisrich said. “It’s scary how similar we are.”

The Global MBA program, administered by Thunderbird and Tecnológico de Monterrey in Mexico, delivers coursework with a Latin American focus. Professors at both institutions teach the students in a virtual academic environment, and degrees are granted jointly by both institutions.

Hisrich has authored or co-authored 25 books, including the world’s top-selling book on entrepreneurship. His latest book, scheduled for release in November, will share practical tips for starting, developing and managing global ventures.

He told the 159 graduates at the Carefree Resort & Villas in Carefree that history is filled with examples of these like-minded men and women such as Peter the Great, Benjamin Franklin and Bill Gates.

Hisrich said global entrepreneurs share at least eight traits. They embrace change and take action, they pursue their visions with passion, they develop teamwork, they build strong coalitions of support, they are “ethical doers,” they persist despite failure, they take calculated risks and they build strong, meaningful relationships.

Full-Time Programs

Students help U.S. Olympic squad build its brand

The U.S. men’s water polo team has passion, talent, muscles, charm and a chance to win an Olympic gold medal in Beijing. What the team lacks is brand awareness.

Four students in Rick Baer’s global brand management class at Thunderbird are working to change this.

“Water polo can be a really popular sport in the next generation in the United States,” said brand management student Tzu-Yao “Robin” Lin of Taiwan. “Almost everybody knows water polo in California. If the sport can be popular in California, then why not in the whole United States?”

Lin and three teammates in a global brand plan competition at Thunderbird traveled to Los Angeles this month to meet the Olympic athletes and learn about men’s water polo. The students are analyzing the brand strengths and weaknesses of the team, gathering market research and putting together a plan that the U.S. squad can incorporate in its overall business strategy.

“We want to win our class competition,” said Thunderbird student Jeffrey Sinor of Hawaii. “But we feel a stake in U.S. men’s water polo. We feel part of this team. They came to us with a problem, and we want to help them find a solution.”
Sinor and his Thunderbird teammates said they knew little about water polo when they started the project in May, but they have been impressed by the athletes who train in the pool for eight hours a day.

“We didn’t know these guys would be built like football players,” Sinor said.
Thunderbird student Yusuke Ishizaka of Japan said the water polo athletes are intelligent and well-spoken, and many of the teammates he met attend top California schools such as Stanford University.

“They’re not looking to make money or gain fame,” he said. “They just want a challenge.”

Ai-Ting Wang of Taiwan, another Thunderbird team member, said she appreciates the chance to apply brand management theory to a real-world problem.

“We are lucky to have this kind of project,” she said.

Other teams in Baer’s class are developing brand plans for a Taiwanese bakery that has expanded to China and the Target human resources department in India.
The students will present their plans to a global council near the end of the summer trimester in August.

“This is the best class at Thunderbird,” Sinor said. “This is not pretend. This is it. This is what we’re here for. It’s everything I wanted in my Thunderbird education.”

Cold Stone exec stays true to the brand in Japan

Consultants warned Cold Stone Creamery in 2004 that singing for happy customers just wouldn’t work in Japan.

That didn’t sit well with Cold Stone executive Lee Knowlton, who spoke June 25 in Rick Baer’s global brand management class.

He said Cold Stone’s brand strategy focuses on creating the ultimate ice cream experience for unapologetic ice cream lovers, and singing for tips is part of the company’s fun-loving personality. He refused to let go of the practice when the Scottsdale-based chain expanded to Tokyo — despite warnings from consultants that Japanese customers don’t tip.

“Stay true to your brand,” he told the students. “If it’s not going to be Cold Stone Creamery when you walk in, then what’s the point?”

Knowlton, the president of international and new business development for Cold Stone, decided to replace the tip jars in Japan with donation jars for a Tokyo children’s hospital.

“It blew the Japanese customers away,” Knowlton said. “They were happy to donate, and our crew members were happy to sing.”

Since assuming responsibility for Cold Stone’s international development in January 2005, Lee has helped the company expand into many other markets, including Korea, Taiwan, China, United Arab Emeritus, Saudi Arabia, Indonesia, Singapore and Malaysia. Projects under way include finalizing agreements in Mexico and conducting research in Canada, India, Australia and England.

In all of these regions, Lee said the company has spread its brand effectively without relying on huge advertising and marketing budgets. From the beginning, he said, the company has relied mainly on word-of-mouth advertising from happy customers.

“What others say about Cold Stone is more important than what we say about ourselves,” he said.

Lee joined Cold Stone in January 2003 and has held a number of positions, including overseeing all U.S. operations, area development, research and development and quality assurance for the chain that includes more than 1,380 stores worldwide.

EMBA

EMBA classes meet in Prague

Fifty-two students from EMBA 17 and 25 from EMBA Europe V cohorts completed a joint module May 30 to June 7 at the CMC campus in Prague. Students took Operations Management and Global Leadership with Professor Karen Brown and Personal Leadership Development with Professor Christine Pearson. Besides taking three courses, students visited the Pilsner brewery and Brandys castle.

EMBA graduates open restaurant

Three EMBA XVI graduates, Amol Khade, Govind Arora, and Venkat Nallapati opened The Dhaba, a restaurant that explores the flavors of India. The business resulted from an opportunity assessment project in their entrepreneurship/ intrapraneurship course with Professor Steven Stralser. The restaurant opened June 21 at 1872 E. Apache Blvd. in Tempe. Visit The Dhaba Web site for grand opening specials and coupons.

CMC

Kip Harrell named president of MBA Career Services Council

Kip Harrell, who has served as the Associate Vice President for Career Management and Professional Development at Thunderbird since 2002 has been appointed president of the MBA Career Service Council.

Founded in 1994, the council is a professional association for individuals in the field of MBA career services, and those that recruit MBAs directly from MBA programs. The council includes more than 500 career services professionals at more than 200 business schools worldwide. Harrell previously served as chairman of the council’s standards committee.