UCLA Anderson School of Management Blog

Professor Emeritus Eric Flamholtz Honored

UCLA Anderson Professor Emeritus Eric Flamholtz was honored by his alma mater, Olin School of Business at Washington University in St. Louis, as one of their 2014 "Distinguished Alumni of the Year.

Flamholtz, remembered by generations of Anderson students for his courses on managing entrepreneurial organizations, earned his MBA at Washington University in 1966 (and later earned his Ph.D. at the University of Michigan in 1969). His book, Growing Pains, is considered a bible for entrepreneurs. According to a press release "The Distinguished Business Alumni Award honors Olin Business School alumni who have attained distinction in their careers. Those being honored share the characteristics of leadership: progressive thinking, high standards, uncompromising integrity, commitment, courage, and confidence."

Flamholtz is currently the president and founder of Management Systems Consulting Corporation, which he co-founded in 1978. He continues to half-day seminars at UCLA Anderson through its executive education offerings. As for his latest honor, Flamholtz says, "I was overwhelmed when I was told I was getting this honor. I'm very humbled to have received this recognition."

Winning $75K Marketing Case Competition Prize Really Was About Team

L to R: Jenn Hyman, Breeana Bey, Cameron Snaza, Alisa Sommer and Fran Benjamin

by Alisa Sommer (MBA/JD '14) (with Fran Benjamin ('14))

The Wake Forest Marketing Summit, a marketing case competition which took place in Winston-Salem, North Carolina, at the end of February, is going to be one of my most cherished MBA memories. The Anderson team was the strongest group of people I’ve ever had the chance to work with – which is probably why we came home with a first-place win and a $75,000 huge novelty check!
 
Our Anderson team consisted of five people, with diverse backgrounds and skill sets. From a former operations manager in agribusiness to an event marketing manager at a film studio, we each brought a unique skill set to the table. One of Anderson’s strengths is our diversity of backgrounds and interests, and each of the team members helped us achieve our big win.
 
The case required us to create a go-to-market strategy for a new product at Reynolds American, from identifying the target consumer through developing the social media strategy, all within a $10M budget. As you can see, our diverse backgrounds helped us tackle this problem from many angles. Of course, our Anderson classes in Market Entry, Finance, Channel Strategy and beyond were constant reference points as we built a marketing plan from an idea to a 20-slide powerpoint deck with more than 30 appendix slides in 36 hours. Phew! Sleep is for the weak.
 
The final day, we had each slept about 10 hours over the course of four days, but with the adrenaline pumping and strong data to back up our recommendations we delivered a strong presentation. Reynolds executives commented on our polished presentation and in-depth recommendations, but I think one of the things the team was most proud of was that the executives noted we seemed to “really like each other” and our camaraderie seemed to have made the team a success. I couldn’t agree more – not only did we win the $75,000 prize and recognition, but we walked away better friends and colleagues for life. Go Anderson!

Solutions For Our City: Livable Communities

UCLA Anderson Lecturer Paul Habibi

by Paul Habibi

Next week, Los Angeles Mayor Eric Garcetti will headline the UCLA Anderson Forecast event, focusing on “Solutions for Our City.” He’ll stress the importance of not only attracting employers to Los Angeles, but also preparing our youth for the jobs of tomorrow.

In discussing the employment challenges facing the city, it’s essential to talk about how housing and transit needs fit into the equation. As of 2012, 51.3 percent of owners and 59.8 percent of renters in L.A. County were considered “housing cost burdened,” meaning they spent more than 30 percent of their income on housing. My recent report, the 2013 Livable Communities Report: A Call to Action, commissioned by the Los Angeles Business Council, recommends that the solution for easing this financial burden is to pursue workforce housing developments in less expensive areas that are connected to job centers via transit.

The report – which was released at the LABC's Mayoral Housing, Transportation and Jobs Summit at UCLA – applies a new Livable Community Opportunity Index to identify 104 public transportation stations/areas across the city with the greatest market potential for development. You can find the full report here.

Anderson Alumnus Produces Second Disney Acquisition Deal

Maker Studios CEO Ynon Kreiz (L) and Disney CEO Robert Iger (R)

In 1996, Ynon Kreiz (’93) helped launch Fox Kids Europe, which eventually sold to the Walt Disney Company in 2001. Yesterday he did it again. Disney swooped in and purchased online-content powerhouse Maker Studios—where Kreiz is currently CEO.

The deal is reportedly worth $500 million, with $450 million more on the table if the company meets “aggressive” growth targets. Maker Studios locks down 5.5 billion views per month from its 380-million-user YouTube base. With more than 55,000 channels of online content, Disney clearly hopes for an empire-sized increase to its new-media bandwidth.

"This gives a presence online to reach the millennial group that is increasingly getting its video online," Kevin Mayer, Disney executive vice president for corporate strategy, told Reuters. "And it gives us a lot of data to help promote our other businesses to them."

Kreiz will continue to run Maker and try to squeeze more value for its investors, which reportedly include Time Warner Investments, Elizabeth Murdoch, Greycroft Partners and Kreiz.

“Maker brings to Disney a substantial digital audience, some of the biggest stars in the space and also a real understanding of how to manage big brands on YouTube,” Brent Weinstein, who leads United Talent Agency’s digital media division, told The New York Times. “Look at what Maker has done for Epic Rap Battles and Snoop, and imagine what they can do for Iron Man, Mickey and Yoda.”

Before Maker, Kreiz ran Endemol, the world's largest independent television and digital production company, from 2008 to 2011. He is also one of Anderson’s “Inspirational 100 Alumni.”

Solutions For Our City: Los Angeles Renaissance

Senior Associate Dean Al Osborne

by Al Osborne

Los Angeles has always been and continues to be a place of amazing innovation and world-changing ideas based on boundless creativity. Sustaining that momentum is the topic of the upcoming UCLA Anderson Forecast event, focusing on “Solutions for Our City.”

Los Angeles has spawned film, television and music industries, as well as sports, a massive aerospace industry and a thriving hub for technology startups. To enhance that energy, much needs to be done to reduce costs and gain efficiencies—and we look to technology, which is leading the way.

Much of the job creating will come from businesses in the digital sphere and in innovations taking place in established industries, such as manufacturing, entertainment, education and the government. Healthcare, too, will likely remain an integral part of the landscape in southern California, as world class hospitals respond to changes in service that should create employment opportunities in a variety of ways. 

Amid efforts to grow business and become more efficient, it is critical to emphasize the importance of early education. We need to ensure that teachers are trained to deal with the human development of kids at an early age. They are the ones who will help Los Angeles to become the frontier of business in America.

Los Angeles Mayor Eric Garcetti knows the value of developing the resources needed to attract and sustain job growth in the city. Just look at some of the initiatives sponsored by the Mayor’s Council on Innovation and Industry (LAMCII). They range from startup partnerships and export programs designed to grow business and create new jobs to public transportation plans that will help better connect people to employment opportunities.

Working together to enhance jobs in our home town—it's a sign of the renaissance that's occurring in Los Angeles.

UCLA Anderson’s Geoffrion Wins INFORMS Award

UCLA Anderson’s Arthur Geoffrion, James A. Collins Professor of Management Emeritus, has received the 2013 President’s Award from the Institute for Operations Research and the Management Sciences (INFORMS). The award recognizes contributions to the welfare of society.

Geoffrion, who’s taught at UCLA since 1965, is co-founder and past president of INFORMS and its predecessor, The Institute of Management Sciences, both associations for professionals in analytics. Geoffrion’s work to solve the problems of business and government, as well as his impact on colleagues and students, were cited by INFORMS as part of his contributions to the discipline during a nearly 50-year career.

“The 2013 INFORMS President’s Award is awarded to Arthur Geoffrion for his seminal contributions in the field of management science and operations research, his leadership in connecting OR/MS theory to practice, and his influential mentoring and teaching of OR/MS professionals who continue to use his ideas and applications to impact business, government, and greater society,” said INFORMS President Anne Robinson of Verizon Wireless, speaking at the INFORMS Annual Meeting in Minnesota.

For more on the award click here. Professor Geoffrion’s webpage is here.

UPDATE: INFORMS Past President Anne Robinson presented the award on February 28 at an award ceremony arranged by the Decisions, Operations and Technology Management area. All faculty and Ph.D. students attended the event, which was followed by one-on-one meetings with Robinson.

Anderson’s Got Talent

By Ayushman Jain and Mike Hirshman

Anderson Creative and Challenge for Charity (C4C) hosted a highly anticipated show featuring the breadth of talent among Anderson’s student body. From a keyboard performance to salsa dancing to a photography display, the event showcased students’ abilities outside of the classroom.

It seemed almost as if time had laid Anderson's showbiz equipment to rest and covered it in a thick blanket of dust, a silent memory of Korn Hall's days as not just a venue for orientation and Dean's speakers, but as a stage where talent would come alive every now and then. Anderson Creative helped bring back the glory days and once again set Korn to life, as the house lights went down and the spotlight came out once again. Michael Heafey, the man behind the scenes in every event that happens at Anderson, became superman for the night, pulling all the stops to make the logistics work.

MC’s Dan Reiss (’15) and Neil Kapur (’15) were stars of the show. Their jokes fed off each other and made the intermission between acts as riveting as the performances. Approached just before the show began, Reiss noted that he and Kapur had no script, saying jokingly, “It’ll be interesting to hear what comes out of our mouths.”

Lily Abagyan’s photography was another highlight. Her photos ranged from a picture city hall in Yerevan, Armenia, to a picture of a boy with an ice cream cone. A common theme in the artistic displays was not only the talent of Anderson students, but the range of their travels. Molly Hogan's intricate artwork was another surprise in the first of its kind exhibition.

Binh Hoang (’15) described the timing of the talent show as “perfect,” noting it was a good break before final exams. He came, he said, to cheer on his section, as well as to enjoy the rest of the show.

A delightful audience from both years of the Full-time MBA class attended the show, as well as many members of the faculty and staff. The Special Olympics Dancers kicked off the show and amazed the audience with their bright smiles and high energy levels. Anderson acts followed, interspersed with Dan and Neil's attempts at recreating the Oscars magic, complete with a badly taken selfie. They later informed us that the L.A. Monica's Pizza guy had been abducted by an angry second year who had gained 20 pounds eating the same pizza at every speaker event.

Anna Accorsi (’14) and company's delightfully sensuous salsa complemented John Mar (’14) and Daisha Chung’s  (’15) acoustic camaraderie over romantic ballads, with Chase Shi and Lucy Han’s (’15) Bruno Mars cover acting as the cherry on top. The dance numbers got the energy levels soaring, with the Texas-themed "Timber,” Bollywood-themed "Dhoom Again" and hip hop-style "Animal Party" making the audience groove in their seats.

Even the faculty did their part, with an elaborate Star Wars themed skit showcasing Asst. Dean "Darth Vader" Gonzalo Freixes and Asst. Dean "Jedi" Susan Judkins' master plan to make Anderson the No. 1 school by tapping L.A.'s biggest (and unmentionable) industries—you could probably guess. After a brief intermission with MBA 2015's showcasing their Hetch Hetchy pre-orientation trip video, Anderson's homegrown bands Dusty Bottoms & the Five Knuckle Shuffle and Manderson School of Rock v5 singing "Wrecking Ball" and "Sweet Home Chicago” wrapped up the night.

Jenny Lai and Ayushman Jain (’14), Anderson Creative co-presidents, thanked everyone for making the show the best in at least recent memory.

Check out the Anderson Creative Facebook page here and video of the show here.

Survivor Producer Achieves Through Faith

Mark Burnett, producer of the “Survivor” series and “The Bible” miniseries, has made quite an impact on the television and, now, faith-based communities. But, beyond a desire to do good, he says there’s a familiar motivator driving him on. “People are driven by fear—running away from fear or to pleasure,” he says. “I am running away from pain. My pain is the fear of not doing anything great. I’d much rather fail than look back thinking I did nothing.”

And that powerful motivator has served him well on his journey from young U.S. immigrant to powerful Hollywood insider. “My first couple years in America were down the street from here. I was basically a servant for the first two years, working as a housekeeper and a nanny,” he told the crowd at the UCLA Anderson Center for MEMES second "Entertainment That Matters" event last week. “My first job was emptying a dishwasher down the street from here. I was 18 and had never seen a dishwasher before.”

Working his way up, he—and wife Roma Downey (of “Touched by an Angel” fame)—have turned their positions into a platform for producing projects that reflect their faith-based lives. “We are completely clear that we are a Christian family and what we believe is what we believe,” he said. Having now produced the Emmy Award-nominated “The Bible” series and the film “Son of God,” Burnett said the message is easy. “What we’ve managed to do is a mix of faith and our jobs. Just because you’re Christian doesn’t mean you have to make crappy films,” he jokingly told the audience.

With plans to produce further faith-based projects, Burnett says the important message is to keep moving forward and keep self-awareness at the fore. “The challenge is one of awareness, of not being aware of the outcomes of your action,” he said. “‘Is my action taking me toward my goal or further away?’ Some people set the course and then end up away from their goal because they forget to adjust based upon changes.”

While he laments not getting an MBA, it’s action that counts most, he said. “You’re getting the best possible education, but it doesn’t guarantee anything,” he said. “If you do things like I did, you can apply that great education. But too much knowledge might make you paralyzed. Analysis is paralysis.”

For more on MEMES, head to their homepage. Check out more images from the event on Flickr.

Knapp Venture Winner Sews Up Pre-Launch Coverage on Yahoo

by Sylvia Duzaryan

Anderson alumnae Kelsey Doorey’s (‘13) and Anna Baxter’s (’13) big idea continues to generate buzz. Yahoo! Finance highlighted the company this past week, giving the startup a big, public pre-launch boost. Their company, Vow to be Chic, is reinventing the stressful and expensive process of bridesmaid dress shopping by allowing bridesmaids to rent designer dresses at significantly discounted prices and then return them after the big day.

The two won last year’s UCLA Anderson Knapp Venture Competition and were awarded $15,000 to bring their idea to fruition. The competition is an annual student-run event that allows UCLA Anderson students to develop and enhance new business ideas, which they then present to a panel of judges in the hopes of winning the endorsement prize.

After winning the competition and graduating from Anderson, Doorey teamed up with new partner Amy Walker ('14) and struck exclusive deals with several of the top bridesmaid dress designers. Each bridesmaid provides their measurements and the company sends them dresses in two different sizes to ensure the best fit. Essentially, the once stressful process of picking a bridesmaid dress and making sure it is both affordable and flattering is now hassle free thanks to Vow to be Chic.

As Doorey told Yahoo, being a bridesmaid is “an honor, but an expensive honor.” Thanks to Vow to be Chic being a bridesmaid is an honor with no strings attached.

Check out Vow to be Chic's online, and more on their Knapp win here.

L.A. Mayor Eric Garcetti to Speak at UCLA Anderson Forecast's "Solutions for Our City" Conference

After last December's prediction of three percent GDP growth by the second quarter of this year, the UCLA Anderson Forecast economists return to take stock and gaze once again into their economic crystal balls. And, in addition to presenting prognostications for both the national and state economies, the Forecast will present Los Angeles Mayor Eric Garcetti and a pair of expert panel discussions addressing the theme, "Solutions for Our City."

According to the Forecast, "Los Angeles, Detroit and Cleveland share the dubious distinction of cities with the weakest job growth since 1990." Mayor Garcetti will give the keynote address as part of the larger discussion including job creation, city revenues and education.

Senior Economists David Shulman and Jerry Nickelsburg, and Economist William Yu will present the current state of economic affairs and discuss the national, state and local outlooks. From the polar vortex to competitive Los Angeles-based industries, they'll break down the data and dissect the issues facing stock prices, the Los Angeles job market, drought and more.

“Life for our new mayor will be a lot easier if the Los Angeles job engine starts moving full steam ahead again,” says UCLA Forecast Director Ed Leamer. “We are looking forward to hearing what the mayor’s plans are in this area and others. To help out, we have two panels of experts who will shed a comprehensive light on the two aspects of the job engine – getting our kids ready for the good jobs of the future and making sure those jobs will be here in LA.”

Participants in the preparedness conversation include Jan Perry, general manager of the Economic and Workforce Development Department for the City of Los Angeles; Frederick Zimmerman, chair of the Department of Health Policy and Management of UCLA's School of Public Health; and Michael Stoll, chair of the Department of Public Policy and professor of public policy and urban planning at UCLA's Luskin School of Public Affairs.

The job availability conversation includes Matt Toledo, president and publisher of the Los Angeles Business Journal; Miguel A. Santana, city administrative officer for the City of Los Angeles; and Matthew Kahn, professor in the Institute of the Environment of the Department of Economics and Public Policy at UCLA's Luskin School of Public Affairs.

The event takes place Wednesday, April 2 at JW Marriot L.A. Live in downtown Los Angeles from 7 to 11:30 am. Registration is required.