Innovation Rides Through VMH - On a Segway

This semester’s class on Innovation & Entrepreneurship within an Existing Firm experienced a hands on demonstration of a new product, bringing to life an ongoing classroom discussion. Karyn Kemmerer, a second-year Smith MBA student, brought in Segnation, a company that produces the Segway Human Transporter. The speaker for the class was Richard Segar, president of Segnation, LLC, http://www.segnation.com/.

The class was discussing the topic of innovation, and had read the Segway case as an example. The main area for discussion was whether Segway would be successful if it were developed within a larger firm, or whether the small, independent nature of Segnation helped in the product’s uptake. Segar stated that the Segway can help improve production in many professions. For example, one security guard on a Segway can cover the same area as three on foot. Other potential professions for adoption include mail carriers, paramedics and security guards. Segways are currently used in tours given in Annapolis and Washington, D.C.

Professor Brent Goldfarb offered his thoughts on the class experience: "The Segway is a technology that has the potential to revolutionize transportation, and thereby cities. However, it faces many significant challenges in gaining acceptance in the marketplace. To better help understand these challenges, it was important to experience the technology first-hand. In addition, this was a student-driven event. I challenged the students to find someone who would be willing to come and demonstrate the Segway. They certainly rose to this entrepreneurial challenge.”

Currently, the product’s high price point (one Segway costs $5,000), and lack of adoptable infrastructure prevent mass market adoption. Challenges include lack of parking, roads infrastructure built for larger vehicles and theft of the property. These challenges were put aside for one afternoon, however, as students, faculty and guests were invited to ride the Segway. Once the riders learned to balance and steer, they were off to Chipotle for an afternoon lunch! Segar indicated his company was working to reduce the cost of a Segway to $2500, and to provide customization options for consumers such as colors and sizes.

Etim Edim, a second-year student in the class, commented, “It was a great way to bring alive our class discussion. The presenter was clearly excited about the future of Segway, and we were able to discuss product development, penetration and niche market introduction strategies with him. The in class demonstration also provided us a unique opportunity to gain industry perspective and discuss common problems of new product innovation within a small firm.”

Even Dean Howard Frank and Professor Joseph Bailey were able to join in the fun!

Smith School in the News

The Smith School’s new partnership with ChinaCast, to deliver executive education programs across China via satellite, was noted in a number of publications including the Financial Times (12/6), The (Maryland) Daily Record (12/1) and The (Singapore) Business Times (11/30). An article about the Smith School’s partnership with executive search firm Stanton Chase International appeared in the November/December issue of BizEd. Scott Koerwer, associate dean for executive education and marketing communications, and Cherie Scricca, associate dean for master’s programs and career services, authored the article. And Peter Morici, professor of international business, was quoted about jobs and the economy by CNN Money (12/2), Investor’s Business Daily online (12/3), and TheStreet.com (12/3).

For more Smith School media highlights and links to articles, visit Smith School in the News.

Chinese Business Association Holds Inaugural Event

 The China Business Association held its Inaugural Event on Wednesday November 17, 2004 with a guest speaker and gourmet Chinese food. Charles Vickery, former Undersecretary of Trade and former co-chair of the US-China Joint Committee on Commerce, spoke to a full house about the synergistic opportunities with increased trade among the U.S., China and India. Festivities continued at the China Garden restaurant in Arlington, Virginia.

Building on the current media buzz surrounding the potential of the so-called BRIC nations (Brazil, Russia, India, China) Vickery’s presentation examined the current purchasing price parity among the US, China and India, China’s economic development based on industry versus India’s economic development based on service, and the country’s different domestic savings rates. According to Vickery, if the three nations could move beyond their points of competition in natural resources, textiles, auto parts, and “great power” aspirations, then China, India and the U.S., working together, could accelerate growth in all three economies.

Following the presentation, members of the CBA and visiting scholars from Guangzhou, China, joined Vickery in celebrating the China Business Association’s current and future success over a bountiful and delicious meal.

The China Business Association is one of the newer student organizations at the Robert H. Smith School of Business. It was founded to introduce the Smith community to Chinese business practices and culture, to develop an appreciation for China’s impact on the global economy, to enhance the experience and professional development of all members by providing academic, professional, and networking resources and to have authentic Chinese food and fun.

If you are interested in participating, please write to china@rhsmith.umd.edu or contact club founder and president, Romeo Zhao at romeo_zhao@rhsmith.umd.edu.

International Exposure for Thanksgiving Tradition

In its second major event since its inception, the International Club hosted a thanksgiving dinner on Monday, November 22nd in Van Munching Hall's second-floor executive dining room. The event was aimed at introducing international students to the beautiful American tradition of taking time out to be with one’s family and friends to celebrate life’s abundance.

The dinner consisted of traditional Thanksgiving dinner fare including; turkey, sweet potatoes, cranberry sauce, pumpkin pie and stuffing. “The stuffing may seem to be a simple item but making it well actually requires good culinary skills,” explained Jaclyn Rubin a first year American student.

The highlight of the event was a short speech by Tom Nowaczyk, the club’s vice-president, tracing the roots of the Thanksgiving dinner. “The pilgrims had a very tough time in 1620, their first year in Plymouth Rock, as they tried to learn how to work the land” he explained. With the help of the native Indians, the pilgrims learned how to grow corn by using fish fertilizer. “The first thanksgiving dinner was a celebration of the fact that the pilgrims had enough harvest to see them through the winter of 1621,” Nowaczyk said.

That theme gained national acceptance and today, Thanksgiving is considered to be the last true American holiday. Its special place is also attributed to the fact that it has not been commercialized in a similar manner to Christmas. Most of the American students in attendance agreed that Thanksgiving was mainly about being with members of their family.

While Thanksgiving is not observed internationally, most students had similar parallels from their home countries. In China, it is the 15-day New Year’s Day celebration. To the Chinese, the New Year represents a chance to gain happiness, wealth and longevity. The celebration is especially important to children as they get good luck money wrapped in little red envelopes.

The evening was one of camaraderie as students shared stories of their home countries. The International Club’s next event is the Japanese night which is slated for early spring 2005.

Graduation Candidacy 2005

The graduation process should be started at the beginning of a student's last semester of coursework. It is the student’s responsibility to check with his or her advisor regarding graduation deadlines and procedures. Failure to submit the paperwork in a timely manner could delay your official graduation. Graduation can be stopped for the following reasons:

• Incomplete grades or grades not submitted in time.
• If students take consortium or transfer credits their last semester, often those grades are received and processed after the initial approval process (two weeks after graduation). If you are in this situation, please transfer your credits in as early as possible.
• Changes in the Approved Program Form (you will receive information about this form at the beginning of your last term). Changes include any course drops, course additions, or any other alterations to your schedule.
• MEI (written test of English) provisions not removed. This was stated in your letter of admission. This is not a business school provision, we do not offer this test. We cannot remove this block. This can only be cleared up by the MEI office.

Diplomas are mailed 4-6 weeks after graduation. They will not be mailed if students have outstanding financial obligations to the university (example: parking tickets, overdue books or unpaid tuition bills). Contact the Diploma Office (301-314-8270) for questions regarding a diploma not received six weeks following the semester’s completion.

DECEMBER GRADUATES:
You must RSVP by Tuesday, December 14!

Too busy to plan a graduation party? Then leave it to us! As our gift to the December 2004 graduating class, the Smith MBA Alumni Committee is planning a graduation party for YOU and your family or guests!

Save the date for Friday, December 17, 6:30-9 p.m. at Staccato in Adams Morgan as we celebrate your accomplishments and welcome you as the newest members to the Smith Alumni Community. We'll be providing food and dessert (graduation cake!), plus we've arranged for drink specials and all are welcome to stay for the band starting at 9 p.m.

Please RSVP with your name, campus, and the number of attending to Louise Hayden or Stephanie Bauer no later than December 14. Alumni who RSVP will receive a Smith Alumni welcome kit!

USF International Business Plan Competition - Call for Proposals

The University of San Francisco School of Business and Management invites all University Graduate Students to submit business plan proposals for participation in the USF International Business Plan Competition. (www.BusinessPlanCompetition.org)

• Competition Dates: March 9 - 12, 2005

• Venue: San Francisco, California

• Judges: Silicon Valley Venture Capitalists

• Submission deadline: January 25, 2005

Please submit a 3 - 7 page executive summary of your business plan for full consideration to Professor Mark Cannice.

• Via e-mail attachment: cannice@usfa.edu;

• Or by mail: Professor Mark Cannice, Ph.D.
                       University of San Francisco--School of Business
                       2130 Fulton Street
                       San Francisco, CA 94117