Tag: WashU at Brookings

Sarah Kaplan, BFA 2018, wrote this post on behalf of the Bauer Leadership Center.

Through a panel discussion cohosted by the Bauer Leadership Center and the Century Club Business Series, the 2018 Distinguished Alumni Award honorees shared how value systems have shaped their career paths.

• Zack Boyers, MBA 01’, chairman and CEO, U.S. Bancorp Community Development Corp., St. Louis.
• Shirley Cunningham, MBA ’08, executive vice president, AG Business and Enterprise Strategy, CHS Inc., Inver Grove Heights, Minnesota.
• Munir Mashooqullah, MBA ’98, founder and custodian, Synergies Worldwide, Thailand.
• Richard Ritholz, BSBA ’84, partner, senior portfolio manager and head of global commodities trading, Elliott Management Corporation, New York City.

A defining theme throughout the discussion was the significance of having a global perspective while relying on a focused value system.

Global Thinking

Richard Ritholz described not understanding globalization as going into a fight with one arm tied behind your back. In an increasingly “fast-changing and globalized world,” an appreciation for how other people think is incredibly important.

Having spent time abroad in England, Italy, Norway, and Holland working for Mobil Oil, Ritholz had to assimilate across many cultures.

“It really opened up my mind,” he said. “Without the experience of internationalization, I just don’t think I would have thought about things with as open a mind as I was able to, and I am not so sure I would have been as successful.”

Shirley Cunningham likewise shared how in her experience working around the world, a global perspective makes you think more broadly. “It makes you think in a more rounded way if you think about the globe as the opportunity versus just a narrow strip.”

With global opportunity also comes global responsibility. Munir Mashooqullah pointedly stated that all of us now have a global footprint.

“You cannot be a leader or a manager or have skills without understanding how things work around the world,” he said. Mashooqulla shared a tip he picked up from the president/CEO of Bain: CEOs have to be the leader of an ecosystem, not just a singular asset. This applies to not only global corporations, but also national organizations.

As Zach Boyers shared that working in a primarily US-based company, technology and global change still affect national organizations. In handling these global shifts and changes, it is important to have a dedicated core set of values to act upon.

Focused Values

In addressing a global business world, all four alums agreed on the importance of not just having core values, but focusing on implementing them within one’s own organization. Boyers got to the heart of the matter: “The question really becomes, what do values mean in practice and in an operating model in your business?”

To implement a core value of teamwork into his own operating model, Ritholz starts by understanding the impact of teamwork, then “I work backward and try to figure out what we need in order to engender that type of teamwork, spirit, and camaraderie.”

Mashooqullah shared another strategy implementing a values-based culture: Values must start at the top.

“We put on our website that reputation is what other people think of you, and that character is what you are,” he said. “Culture is important because without that, you cannot pre-populate an organization with what you think.”

Without a cultivated culture, it is difficult to act on specified values. Cunningham also emphasized a values-based culture. She shared an experience working in a blame-oriented culture.

From relying on her core values of integrity and problem solving, she was able to re-align with a business environment, which also supported that belief system. When it comes to values in a global world, a resounding reminder from these alums is that you cannot just talk to the talk, but you must walk the walk.

Be sure to click this link to see the Distinguished Alumni Symposium on April 12, 2018, or view the video below.

Don Dorsey, pictured in 2004

C. Donald Dorsey, a member of Olin’s National Council, a longtime scholarship supporter, and distinguished alumnus, died on Thursday (May 3, 2018). He was 76.

Mr. Dorsey served as a senior executive for PetSmart during its rapid expansion from seven stores to more than 500. He even served a stint as interim CEO for the company’s operations in the UK, where he was credited with stabilizing its operations in the late 1990s and positioning the overseas unit for continuous improvement at that time.

Longtime members of the Olin community recalled Mr. Dorsey as a tireless booster for Olin and Washington University, where he received his BSBA degree in 1964.

“He was pretty close to me,” said Robert Virgil, dean emeritus at Olin. “He was one of my very first students when I started teaching. I go back a long way with him. I remember him well as a good student, a leader of his class and after graduating, a dedicated alum of Washington University—very generous.”

Virgil recalled Mr. Dorsey being very active in Washington University’s Scholarship Initiative Campaign. Indeed, he and his wife have been benefactors of the Donald and Lydia Dorsey Scholarship since 2006. Two years earlier, Mr. Dorsey had received Olin’s Distinguished Alumni Award for his career accomplishments.

“Don was a very special friend for Olin Business School and Washington University,” said Mahendra Gupta, former Olin dean and Geraldine J. and Robert L. Virgil Professor of Accounting and Management. “He loved his school and his university and was always there to support them and to be a great ambassador.”

Gupta recalled recruiting a reluctant Mr. Dorsey to the National Council by inviting him to a meeting, where he was impressed by the membership of the group and the intense dedication each member shared for the future of the school. He joined the council in 2009.

“Don was an engaged member of the Olin community through his service on our National Council,” Dean Mark Taylor said. “His commitment to supporting students is inspiring and I am grateful for how welcoming he was during my first year as dean.”

Career Highlights

Mr. Dorsey was a St. Louis native through-and-through, graduating from Normandy High School, attending Washington University, and signing on for his first job with Price Waterhouse locally. He worked there 12 years before moving into general management with retailers in the grocery, automotive, and eye-ware industries.

In 1989, Mr. Dorsey joined PetSmart—three years after it launched—as senior vice president and chief financial officer, helping the company through enormous growth. The chain had blossomed to more than 500 stores and Mr. Dorsey helped guide the company through its 1993 IPO before he retired in 1999.

“Being a CPA was a strong background for moving into general management,” Mr. Dorsey said upon receiving recognition as a distinguished alumnus. “In building PetSmart, we began by working with consumer focus groups to discover what our customers really needed. From that basis, we built on the concept of one-stop service for their pets.”

At about that time, after his leadership, the company’s UK unit was acquired by UK-based Pets at Home in December 1999. PetSmart later went private after its 2015 takeover by BC Partners for $8.7 billion.

Following his retirement, Mr. Dorsey worked as an adviser and investor for several development-stage consumer-related companies such as Ulta Beauty and Five Below.

His wife Lydia and his children were with him at the time of his death. Mr. Dorsey is survived by his wife, Lydia; daughter, Lisa. and son-in-law, Ken Stewart; daughter, Christine Dorsey; stepsons, Eric Bazarnic and Cliff Bazarnic; daughters-in-law, Lynn Ducey and Zoja Bazarnic.

Funeral arrangements are pending.

Pictured above: National Council member and BSBA ’64 Don Dorsey with Frank Duan, BSBA ’16, recipient of the Donald and Lydia Dorsey Scholarship.

Joe Piganelli, MBA ’18, wrote this post on behalf of Bauer Leadership Center. Olin Blog is running it today, the day of the Cardinal’s home opener against the Arizona Diamondbacks.

While the common fan may not view baseball this way, running a baseball team is just like running a business. Both require focus, discipline, and leadership skills. There are revenues, expenses, profits, and losses that must be managed for the team owners.

John Mozeliak, president of baseball operations for the St. Louis Cardinals, holds these responsibilities. He has implemented a unique system of coaching and feedback spanning the entire Cardinals organization.

Recently, the “Defining Moments” class at Olin had the opportunity to hear Mozeliak. He told us what leadership means to him, sharing the correlation between leadership and success within the Cardinals organization. What stuck out to me most about Mozeliak’s leadership tactics were his discipline and adherence to systems and his ability to focus on areas where he can have the most impact.

In the Cards’ organization, individuals receive bimonthly feedback on whether they are at a constant level of performance, improving performance, or declining performance. Those with constant or declining performance levels learn how they can achieve improving performance. This system sounds simple and intuitive, but is difficult. It requires amazing discipline, prioritization, and consistent management to stick to and maintain it.

Mozeliak’s strict adherence to systems, routines, and concepts of organizational management have provided him the means to sustain and enhance the mystical “Cardinal Way.” The key element to managing these systems is his ability to not micro-manage.  The “Cardinal Way”—the organizational philosophy of the team—depends not only on discipline, but also trust.

Mozeliak trusts his people and likewise his people trust him. He provides his team the autonomy and space to run these systems, creating a stronger team on and off the baseball field.

The privilege of listening to our (favorite) baseball team’s president of baseball operations was unforgettable. Mozeliak gave us a window into the hard work and discipline that goes into leading any organization to success—especially a winning baseball team.

Written by Ross J. Brown, BSBA 2018, on behalf of Bauer Leadership Center.

Treat others the way you want to be treated. Do right by the organization. Stick to your values. Don’t be afraid to speak up. Last Thursday, Michael Holmes imparted his lessons of leadership during his presentation at Olin’s Defining Moments course.

Holmes is chairman and founder of Rx Outreach. This nonprofit company focuses on providing medicine to individuals who cannot afford it. Since its inception in 2010, after originally being a part of Express Scripts, the company has been able to provide 670 medication strengths, by more than 70 employees, serving more than 210,000 patients. Rx Outreach patients have saved than $320 million.

Throughout his career, Holmes has worked at variety of companies and in executive positions with Edward Jones and Express Scripts.

With his charismatic personality, Holmes’ presentation captivated the audience with his story of success—and mistakes—that allowed students to understand his underlying points of respect, values, and reflection. With consistent excellence in his career path, he was also able to demonstrate consistent and equal respect to all his coworkers—from secretaries to superiors.

This equal respect came from his religious beliefs, which he also proudly speaks about. I find this impressive. Religion can be a controversial topic, but Holmes is confident enough in himself and who he is to share this part of his background with others.

Finally, Holmes mentioned that he believes we should “enjoy every step of the journey”—enjoy every victory, learn from mistakes, and ultimately, have fun. The time spent with Michael Holmes was inspiring and enjoyable as we learned how to become better employees, better leaders, and overall better people in and out of the work place.

A day hardly passes without an urgent headline focused on the economic transformation underway wrought by blockchain technology. The software is the power behind bitcoin and other cryptocurrencies, but Olin experts have been plumbing the deeper implications of the technology.

Here are five things business leaders should know right now about blockchain from Panos Kouvelis, director of Olin’s Boeing Center for Supply Chain Innovation, and Ohad Kadan, H. Frederick Hagemann, Jr. Professor of Finance and Associate Dean for Global Degree Programs. Then, watch for a way to learn more.

Peer-to-Peer Transactions—Like Cash

Blockchain technology has been developed as an efficient method for completing financial transactions, based on the principle of peer-to-peer involvement and fully decentralized and shared networks. It functions as a distributed ledger that provides visibility of all transactions to all parties in the chain, and it is built on an immutable database.

Early Applications

Beyond cryptocurrencies such as bitcoin, etherium, and litecoin, the blockchain has been used in supply chain finance in areas such as clearing financial payments, using digital ledgers, and executing “smart” contracts.

Digital Inventory Tracking

Key inventory and asset resources can take on a digital footprint, which provides additional security and tracking capabilities. Applications have been built, relying on the blockchain, to track and trace goods involved in the supply chain for industries such as the diamond trade, food, and pharmaceuticals.

Applications Still Being Conceived

Blockchain has the potential to revolutionize supply chains and it requires the immediate attention of supply chain managers. Many are scrambling to understand how a technology developed to support cryptocurrencies might be applicable to supply chains and, in particular, to the supply chains of their companies. Experts say the technology will reduce friction in global shipping operations and complex supply chains that involve goods flowing across borders, through ports, and involving governmental agencies, manufacturing, and retail firms.

Kouvelis and Kadan will help business leaders get further up-to-speed on the ways blockchain technology will enhance (or disrupt) their industry in a two-day seminar May 22-23 called “Blockchain Innovation Strategies: Early Lessons from an Emerging Technology.” Click for more about this workshop.

The workshop is structured as a forum to learn more about the technology and equip attendees to know what questions to ask as they explore the implications of blockchain for their business. Coming out of the workshop, attendees should better understand the potential application of the technology in their supply chains, gain inspiration about possible immediate benefits the technology can provide, and confront obstacles and challenges in implementing it.

Guest post by Steve Friedman, chief strategist and principal at CPG Agency, and Fred Bendaña, vice president of sales at Express Scripts.

“The employer generally gets the employee he deserves.”

–J. Paul Getty

Getty’s quote cuts right to the heart of why employee engagement is so important. Unless you purposely align your internal and external brand strategies with and through your people, you cannot expect to generate the success that other well-respected, people-centered brands are experiencing.

We view engagement as the critical intersection where passion meets action and where the “employee first” values, beliefs, and attitudes a company intentionally focuses on drives the day-to-day practices of their organization. Engagement occurs when you establish a lasting emotional connection with employees. You accomplish that when employees feel these five basic needs are being met:

• You genuinely care about me.
• You appreciate me (and tell me so).
• You listen to me.
• We have open communication and mutual trust.
• We share a meaningful purpose.

Brands that lean into their culture, such as Southwest Airlines, Panera Bread, Ulta Beauty, and Express Scripts, are leveraging creative, experiential strategies to engage their people. This critical step is what transforms employees into brand ambassadors. And that’s how you sustainably grow business.

We understand how impactful “belief through experience” can be. We’ve worked together with each of these aforementioned brands to drive success through live events and internal communications.

On February 9, from 8:00 a.m. to 4:00 p.m., we will join Olin Business School for an all-day seminar to share how to integrate engagement, collaboration, and formal recognition within an organization.

During this interactive workshop, we’ll share how brands such as Southwest Airlines activate high-performing teams and bring their own mission and values to life. When it comes to driving stakeholder engagement, we’ll help identify the different tools and innovative methods that connect a workforce and builds powerful brands.

Limited seats remain, so register for Building a Brand Through Workforce Engagement and discover how to engage and retain the employees your brand deserves.

PLEASE NOTE: This seminar qualifies for one day out of four in the Talent Management & Organizational Development Concentration. Earn a concentration by taking four seminar days in this area within two years, or complete 16 seminar days across four defined concentration areas to earn your Advanced Management Certificate.