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3 Dividend College of Business Dean: Eric R. Spangenberg Associate Deans: David Sprott Graduate, International, and Professional Programs David Whidbee Faculty Affairs and Research Dividend 2009 Vol. 23 Executive editor: Frances Ryan Contributing writers: Frances Ryan, Malia Jacobson, Patricia Jessup, Linda Infranco, Teresa Brewer, Anthony Tarnowski ( 10 MBA), Renee Parkins Photography: Bob Hubner, Shelly Hanks, Frances Ryan, Malia Jacobson, Renee Parkins Dividend is produced annually by the WSU College of Business, PO Box , Pullman, WA All correspondence, including changes of address, should be sent to the editor at Published and designed by University Publishing, Washington State University. Copyright September 2009, Washington State University. All rights reserved Admission to Washington State University is granted without regard to race/ethnicity, color, creed, religion, national origin, gender, sexual orientation, age, marital status, disabled veteran or Vietnam-era veteran status, disability, or use of a service animal. inside Dividend A Message from the Dean...2 Features The Online MBA...4 Small Business, Big Impact...8 WSU Ranks 18th...11 Business Plan Competition...12 college news Focus for New Center...15 Alumni Profile: Craig Schafer Student Travelers...18 Entrepreneurship Student Brings Real-World Expertise to the Classroom...20 Student Brings Life Skills to the MBA Experience...22 One Year Out: Bobby Enslow College of Business Awards...24 Ph.D. Graduates...25 CB Events...26 The Carson Center for Professional Development st Century Hospitality...30 China Center Update...32 Hospitality School Launches New Wine Major...33 Update on Graduate Programs in Business...34 WSU Professor Receives Lifetime Achievement Award...36 In Memoriam: Tom Nunamaker...37 National Board of Advisors...38 NBoA Member Profile: Rueben Mayes...39 Departmental Advisory Boards...40 Annual Report...42 A Message from the Director of Development...43 Calendar of Events Dividend 1

4 As I write this letter, many things in the world remain uncertain. One thing I am certain about, however, is that the College of Business will emerge from the challenges we are facing stronger than ever. With the recent State of Washington budget cuts, and the resulting cuts to WSU, many of you undoubtedly have concerns regarding the impact of the cuts on the College of Business. Although we ve suffered unavoidable cuts, our primary goals remain the same. We will continue to deliver high quality education to great students, produce worldclass research, and actively engage our various constituencies around the globe. When the fiscal crisis hit the world s financial markets in fall 2008, my leadership team and I braced for anticipated cuts by immediately rethinking how we deliver business education at WSU. Although we consolidated just a few years ago, we began a strategic realignment process in October 2008 with the goal of increasing operational efficiencies. Our faculty and staff were involved in every step of the process. This reorganization of the college was achieved concurrently with a curriculum revision led by our faculty that will allow CB students to continue to graduate in a timely manner. We have developed innovative curriculum to make best use of our faculty resources while exposing our students to a broader array of business courses. These changes will allow the CB to continue to serve a reduced, but still significant, number of students. We do, however, anticipate a brighter future. True to the spirit of a modern land grant institution, we ve recently launched an online MBA (page 4) to increase access to business education, as well as a unique wine business management major as part of the School of Hospitality Business Management (page 33). This new major is resource neutral, drawing on courses from several colleges in the WSU system packaged in a way to uniquely serve a burgeoning market segment. 2 WSU College of Business

5 In the midst of financial challenges, the CB has much to celebrate. Spring 2009 marked our review by the Association for the Advancement of Collegiate Schools of Business and resultant reaccreditation. This is significant as there are fewer than 150 business schools worldwide (out of over 10,000) accredited at this level. Reaccreditation is not a foregone conclusion and our faculty and staff are to be commended for this accomplishment. Although there has been a fiscally-related drop in the number of our students studying abroad, we remain the leaders in that area for WSU by a wide margin and the AACSB accreditation team noted our activities regarding internationalization as a best practice. Another big success was a record-setting WSU Business Plan Competition held this spring with over $100,000 in support and 130 competitors; teams joined us from around the world including entrants from our newly formed China Center at SWUFE in Chengdu, China (page 32) and our Swiss Center in Brig, Switzerland. Our program in entrepreneurship was recently ranked 18th in the nation by Entrepreneur magazine and the Princeton Review (page 11), and we are excited to count many successful entrepreneurs among our alumni. Another best practice noted by the AACSB reaccreditation team involves our activities and successes in development. Some notable examples include major gifts resulting in capital projects currently underway that will directly impact the quality and breadth of undergraduate and graduate education. Thanks to a generous contribution from the Boeing Company, construction on the Center for Behavioral Business Research on the third floor of Todd Hall should be completed this fall, giving the college great potential for real world, cross-disciplinary research projects (page 15). Additionally, thanks to a recent gift from the J. Willard and Alice S. Marriott Foundation, we are creating the J. Willard and Alice S. Marriott Hospitality Teaching Center on the second floor of Todd Hall (page 30). This issue of Dividend also showcases our increasingly diverse student population as well as some of our successful and innovative alumni who are working to make a positive impact on the business community in these difficult economic times. It is due to the generous support of our dedicated alumni and friends that we are able to continue our work toward being internationally recognized for excellent scholarship and educational programs. Together, we will continue toward our vision to transform the lives of students while positively impacting the business and academic communities of Washington state, the region, and the world. Trying times test the character of those faced with challenges and I cannot be more proud of the way our faculty and staff have rolled their sleeves up and continued working to ensure that our students and research output are not negatively impacted by the challenges we face. There are many other success stories from the College of Business and I look forward to many more, in partnership with many of you, in the years ahead. Best, Eric R. Spangenberg Ph.D. Dean and Maughmer Freedom Philosophy Chair Dividend 3

6 TheOnlineMBA Increasing Access, Reducing Barriers by Malia Jacobson This fall, the College of Business will launch the online MBA (OMBA) program, adding to the college s outstanding graduate programs. Students can earn traditional master of business, part-time master of business, executive master of business, master of accounting, and doctorate in business degrees. The new OMBA marries the college s 52-year history of success in graduate business programs with experience in distance learning and the growing demand for virtual business courses. 4 WSU College of Business

7 Offered in partnership with the Center for Distance and Professional Education, the online MBA will be offered part time during the academic year and full time beginning in fall Its courses will resemble those in the college s one-year accelerated MBA program with courses taught by fulltime professors. The program s most important characteristic, however, is that it opens the door to a WSU MBA degree for students everywhere. Increasing Access Although the current MBA offerings span the four campuses of WSU, all require face-to-face class sessions, creating an access barrier for place-bound students in other locations. CB Dean Eric Spangenberg believes the new online program will increase access to graduate business education, thereby helping the University fulfill its land-grant mission. Spangenberg notes that land-grant institutions were established to enable people to pursue viable professions; in short, to help Americans better themselves. Agriculture was prominent in the language of the Morrill Act of 1862, which launched land-grant colleges, because it was central to the 19th century economy; today, however, 95 percent of employed U.S. workers are engaged in nonfarm work and the mission of land-grant institutions has expanded. 1 The latest employment statistics from the U.S. Department of Labor show that the largest sectors of employment are government, education, and business services, employing 22.5 million, 19.1 million, and 17 million workers respectively. 2 The college is preparing students to work in business, an industry that employs 12 percent of our workforce. Business and commerce are vitally important today, and we see a clear need to continue preparing students to enter this arena, says Spangenberg. According to Spangenberg, the new OMBA program upholds the spirit of land-grant learning by increasing and protecting access to higher education something he feels is a clear directive of the Morrill Act. The Smith-Lever Act of 1914, which established cooperative extensions, further supports this idea by promoting the dissemination of university knowledge throughout each state, ensuring that access to education will not be limited to students living near a university. { Land-grant institutions were established to enable people to pursue viable professions; in short, to help Americans better themselves. Eric Spangenberg Dividend 5

8 As technology ushers in a new age of access to higher learning, the Morrill Act is more relevant than ever. Though President Lincoln surely didn t envision online discussion portals and podcasts, his intent to create a better society by increasing access to critical learning is clear. The college is dedicated to creating excellent programs and increasing access to them as we can, says Spangenberg. Breaking Down Barriers The origins of the online MBA program can be traced to 1997, when the college offered its first online courses. Today, the CB is one of the University s top providers of undergraduate distance degrees and many of its faculty members are seasoned online teachers. After offering graduate programs for over 50 years, the college expanded its offerings with the launch of the executive MBA program in The new OMBA program was then developed to meet the needs of place-bound students and mid-career professionals who might not be served by the executive MBA or the college s other programs. David Sprott, associate dean for graduate, international, and professional programs and the Boeing/Scott and Linda Carson Chair in Marketing, was tapped to lead the program. Drawing upon his experience launching the executive MBA program last year in Spokane, Sprott worked with the Center for Distance and Professional Education to launch the online MBA program just one year later. According to Sprott, Workers today have higher levels of technical sophistication and there are more people that are comfortable with online learning. People work in distributed environments all the time and that can easily translate to online education. These changes in the modern workforce mean that people are more ready than ever to tackle the rigors of graduate school in an online format, he says. Market conditions are good for this type of program, Sprott adds. While there are a number of online MBA programs, that figure drops quickly when you look for those that are accredited by the Association to Advance Collegiate Schools of Business (AACSB), the premier organization for accrediting business schools. According to the most recent AACSB figures, only 86 accredited schools offer at least one online MBA program. 6 WSU College of Business

9 The OMBA curriculum will be comparable to the college s current accelerated MBA program, but there will be no face-to-face class sessions. Instead, instructors will rely on a variety of online media to interact with students during discussions, assignments, team collaborations, and presentations. The program will be highly interactive, according to Sprott, and students will reap the benefits of teamwork as they would in a traditional program. The difference is that we ll be working in an asynchronous environment people will be contributing according to their own schedules. Work or family commitments won t prevent someone from participating in class discussions or projects. For example, the case discussions that are central to many MBA programs can be richer and more instructive in an online environment, says Sprott. In online classes, when people have some time to digest the topic, it allows the floodgates to open, so to speak. People can articulate their points more effectively in writing when they have some time to think. Online discussions are also free from the barriers that can prevent some students from contributing in traditional class environments. In face-to-face class sessions, only one person can speak at a time, and time limits often bring an end to the discussion before most class members can contribute. Students who don t enjoy public speaking or have concerns about their English may hold back and it s common to see two or three outgoing speakers dominate most class discussions. Because more people are drawn into the conversations, I find that the online collaboration is not only different in some ways it may be better, says Sprott. In an online environment, an instructor can facilitate simultaneous discussion topics on a specific case or chapter. For example, one discussion topic could relate to the main points of the case while another compares the case to a real-world happening, and a third discussion thread showcases a slide presentation about the case created by a team of class members. Face-to-face environments have advantages as well, says Sprott, because professors can respond to questions in real time and students have more signals and cues to help them interpret the finer points of a case. Though an online class doesn t have the immediate give-and-take of a classroom setting, many students can do very well and may contribute more to the class in an online environment. Fostering enhanced collaboration benefits all participants by adding richness and diversity to the MBA experience adding up to a program that enhances the lives, worldviews, and résumés of students from all walks of life. For more information about the OMBA, visit Notes 1. May 2008 National Occupational Employment and Wage Estimates. U.S. Department of Labor. May 29, Employment Situation Summary. U.S. Department of Labor. May 8, Dividend 7

10 Big Impact Small Business Advancing the nation s economic future By Malia Jacobson

11 Small businesses are the foundation of the U.S. economy. This familiar maxim has perhaps never been more true than it is today, in the midst of a global financial crisis. With headlines dominated by stock market woes and job cuts at the nation s largest companies, it s easy to overlook the small firms found in virtually every neighborhood in the country, opening their doors each morning to conduct business. You don t need to look far to find them. According to the U.S. Small Business Administration (SBA), in most industries a small business is one with fewer than 500 employees, though most fall well below this mark. More than half of all small businesses are home-based, and three out of four are one-person firms. 1 The most recent U.S. Census Bureau data show that 95 percent of small businesses have fewer than 10 employees. When small businesses succeed, they create jobs at an amazing rate the latest figures from the SBA show that small businesses create 75 percent of the net new jobs in our economy and make up 99.7 percent of all employers. Many small firms do succeed, despite harsh times; four years after startup, half of all small businesses with employees remain open. 2 When small businesses do fail or downsize, the impact on the economy is relatively small. When small companies go out of business they don t lay off thousands of employees maybe dozens and it s easier for them to start up again. Small businesses are more nimble, says faculty member Jerman Rose, who returned to the classroom this fall after spending three years as associate dean for undergraduate programs and director of international initiatives. In a challenging economic environment like this, there is going to continue to be a lot of job creation. Small and medium companies are being created, and those surviving are going to expand. Though innovation may help to fuel an economic recovery, The problem is that innovation takes a long time to develop, says Rose. Small firms are more efficient than large firms they produce 42 percent of all innovations even though they represent only a very small part of total employment. It s a well-established fact that small companies account for 20 percent of research and development investments while generating technologies on a more efficient basis. According to the SBA, small patenting firms produce 13 to 14 times more patents per employee than large firms. Small business entrepreneurs represent the new innovation and new values in this economy, says Len Jessup, Markin Endowed Chair in Business Leadership and director of the Center for Entrepreneurial Studies. Dividend 9

12 Decagon Devices and Schweitzer Engineering are two examples in Pullman of local companies led by entrepreneurs. They are thriving and hiring. Nobody is bailing them out. They are doing it on their own. Private investor and former managing partner of Northwest Venture Associates Robert Wolfe, a member of the CB National Board of Advisors, says that today s small business owners need to be more creative, resourceful, and flexible. Lenders and venture funds are reducing their exposure to early stage companies and raising their standards. There are a new set of challenges. Entrepreneurs looking for financing are likely to encounter significant hurdles. I ve worked with several entrepreneurs recently with great ideas for new businesses who are looking for funds. In a different time they would have been funded very quickly, he says. Venture firms themselves still have money, while many angel investors are smarting from stock market losses and are more risk adverse. The first option for anybody starting a new business right now is to tough it out on your own and work with your own resources. Entrepreneurship is both an art and a science, particularly when firms are dealing with a turbulent economy. The best teachers draw on real-world experience something WSU s entrepreneurship students experience firsthand. The program recently ranked 18th in the nation, according to a ranking published by Entrepreneur magazine and the Princeton Review. The ranking considers faculty and staff experience in entrepreneurship, giving WSU an edge because all of the program s faculty have small business experience. The program s newest experiential projects instructor, Debra McCarver, became involved with a social entrepreneurship project called Khmer Krafts in February 2006 and brought the project with her when she joined WSU in The company, started by Oregon businessman Bob Petrik and his wife Kay, teaches Cambodian women to sew and sells purses that they make. The women are paid per piece, and the top earner makes $150 per month an excellent figure in a country where $40 is considered a good monthly wage. At WSU, McCarver quickly involved the Students in Free Enterprise (SIFE) club in the project. In 2008, a SIFE team wrote a business plan for Khmer Kraft s first retail operation in Cambodia, a gift shop at a new four-star hotel in Batdambang. The students researched and wrote an in-depth plan, even working up a floor plan complete with cabinets and retail display space. They made recommendations for the operation of the shop, which would sell other items in addition to the purses. The team won first place in the SIFE National Market Economics Competition, a prestigious award. Khmer Kraft purses are now available online McCarver enlisted a CB management information systems class to develop an e-commerce Web site at This is a life-changing business development project for our students, she says. Two veteran entrepreneurship faculty members, Joe Harris and Jerman Rose, played critical roles in now-successful startups experiences that allow them to offer invaluable lessons and advice to their students. 10 WSU College of Business

13 After earning an MBA from WSU in 1982, Harris started Decagon Devices Inc., a Pullman-based manufacturer of agricultural research instrumentation, with brother-in-law Gaylon Campbell, a WSU professor of soil physics who retired in In the early days, I was president and CEO, and I did everything, including clean the toilets, says Harris. When he left Decagon in 1990, the firm had just surpassed a million dollars in sales. Today, Decagon is a world leader in biophysical research and was named one of the Wall Street Journal s Best Small Workplaces of The company is now led by President and CEO Tamson Jolly. Students learn best when they hear stories real stories of success and failure. He gives an example of the latter: I lived in France for a couple of years right after college. The women over there used mesh bags to carry their groceries the kind that expand to hold almost anything. I wanted to bring the idea to the United States, so I went to China and had the bags manufactured. I had a whole ton of them shipped over here. The thought was that grocery stores would buy them and customers would bring them back. I convinced a grocery store to let me try it out and worked for two weeks bagging groceries and handing out the bags and waited and waited for people to bring them back. No one did. The moral of the story? Do your market research! At that time customers didn t want the hassle of remembering to bring their bags. The timing was wrong. Today, Harris advises students to invest in market research early unless they want to end up with a garage full of product that they can t sell. More recently, Harris became part-owner of Sentinel Online, a company created by his former student Casey Brazil ( 03 Entrepreneurship and Real Estate) to allow universities to send transcripts securely online. Brazil came up with the idea after delays in the traditional transcript mailing process left him unable to obtain an Idaho real estate license in time to close a big sale. Brazil worked with Harris to vet the idea, hired two programmers (fellow CB graduates Chris Bloom and Chris Strahl), and approached the WSU Registrar s Office, where the software is currently in testing. Now a married real estate broker in Coeur d Alene, Brazil has stuck with the business, despite a start-up and testing phase that has stretched out longer than he anticipated. At WSU, he learned to expect the unexpected a lesson that has served him well as he navigates the winding path of a start-up. The professors in the program gave me a road map. Longtime entrepreneurship instructor Jerman Rose draws on his experience as co-founder of the Maids Home Services, a company he helped to build from the ground up. Based in Nebraska, the company now ranks in the top 50 franchises in the country. Rose knows that times of economic crises can be rich with opportunity for small businesses. When we were starting up in early 1980s, that was another time of economic turmoil, he says. We provided business opportunities for people who were being laid off by bigger companies and wanted to get into their own business. That was one of the advantages we had in creating our company then. If necessity is the mother of invention, as the saying goes, then economic hardship may be the birthplace of opportunity. As small businesses continue to adapt, expand, hire, and thrive, they ll continue moving the nation forward one entrepreneur at a time. Notes 1. U.S. Small Business Administration U.S. Small Business Administration WSU Ranks 18th in Nation for Entrepreneurship From over 2,300 schools surveyed by Entrepreneur magazine and the Princeton Review, Washington State University was distinguished as having one of the top 50 entrepreneurship programs. The Center for Entrepreneurial Studies in the WSU College of Business ranked 18th in the undergraduate category. The sixth annual ranking reveals the nation s top 25 undergraduate and top 25 graduate programs for entrepreneurship. The WSU College of Business was evaluated based on key criteria in the areas of academics and requirements, students and faculty, and outside-theclassroom experiences. Amy Cosper, vice president and editor-in-chief at Entrepreneur, says, Each school that made the list demonstrates excellence in one or more areas whether in regards to course offerings, the success of students post-graduation, sponsored mentorship programs, or other important factors. Schools that made the ranking are an excellent research starting point for prospective entrepreneurship students. Dividend 11

14 WSU Business Plan Competition Awards $100,000 Ecowell, undergraduate first place winners, left to right: Andy Whitaker (electrical engineering), Reid Schilperoort (finance and entrepreneurship), and Brian Boler (electrical engineering and Chinese). Lucid Diagnostics, graduate first place winners, left to right: Brad Hansen ( 09 WSU MBA), Siris Silva ( 09 WSU MBA), Jacob Pierson (University of Idaho MBA), Michelle Vachon (University of Idaho MBA), and Brandon Holbrook ( 09 WSU MBA). The Business Plan Competition, organized by the Center for Entrepreneurial Studies in the College of Business, included 22 teams and 52 competitors in the virtual competition held in fall The two-day spring event included more than 130 competitors in four divisions. Forty-eight teams presented their plans to a panel of 45 judges from the business community, with the winning teams sharing cash and prizes totaling $100,000. WSU leagues included both undergraduate and graduate teams, with participants from campuses in Pullman, the Tri-Cities, and Spokane, and the college s international partner campuses in Switzerland and China. For the second time, the competition included a high school league, consisting of three teams from Sammamish High School in Bellevue, Washington. This is the third year that the competition included an open league, sponsored by the Port of Whitman. The open league included three teams from Pullman and one from Colfax. The business plan competition continues to be an outstanding, real-world learning opportunity for all of the participants, and this year went way beyond our expectations both in terms of the quantity and quality of entries, says Len Jessup, director of the Center for Entrepreneurial Studies. Not only did the competition essentially double in size with the addition of the international preliminary rounds, but we were also very pleased to see 30 different individuals and organizations donate this year toward $100,000 in awards and the additional funding we needed to underwrite the competition itself. The first place winners were Brian Boler, Reid Schilperoort, and Andy Whitaker for Ecowell in the undergraduate league; Brad Hansen, Brandon Holbrook, Jacob Pierson, Siris Silva, and Michelle Vachon for Lucid Diagnostics in the graduate league; open-league participant Heath Barnes for his hummus manufacturing plant to be located in Whitman County; and high school participants Nabeel Chowdbury and Amanda Nelson for Dolce. Honorable mention awards were given in three areas. The award for the most green project went to Enervide, RenuIT, and Ecopoxy Solutions; the award for best social entrepreneur was given to Kabul Karts; and the award for best first presentation was presented to Platform Chefs, Voyagers, Symptum Cycles, and Pass Portal. 12 WSU College of Business


16 Pullman, Spokane, Tri-Cities, Vancouver, Online A graduate degree in business from WSU can advance your career. We offer a variety of MBA options, an MAcc program, and several Ph.D. tracks to fit your needs and interests. Visit graduate or call Discover Yourself and the World College of Business Study Abroad Global Learning China Greece Italy Korea Mexico Switzerland Thailand Earn credits toward your business degree while studying abroad. Easiest way to travel Won t interrupt progress toward your degree Scholarships and financial aid available WSU professors travel with you and teach most of the classes When you can understand the perspective of another, you can also evaluate yourself from their point of view. In a world where we work together this is an invaluable tool. Sarah Tharp ( 08 Business/International Business) COLLEGE OF BUSINESS

17 By Malia Jacobson Cross-Disciplinary Behavioral Research Focus for New Center Construction on the Center for Behavioral Business Research (CBBR) in the College of Business is scheduled to finish this fall, and Director John Wells has big plans for the new space. An associate professor of management information systems, Wells sees great potential for crossdisciplinary research projects in the new center, located adjacent to the CB Department of Marketing on the third floor of Todd Hall. The center will be set up for research in marketing and information systems as well as any other discipline interested in behavioral research, says Wells. We re open to anyone who can take advantage of the resources. These resources include high-end video and audio usability equipment that allows researchers to track how subjects interact with a Web site or a product. The space also includes a control room equipped with two-way mirrors and audio/video controls, a dedicated entrance where subjects receive pre-experiment information, small rooms for focused research on stimuli responses, and a flexible space dedicated primarily to focus groups and post-experiment debriefing. Involving students in real-world research projects is a key element of the center s purpose, says Wells. The Boeing Company provided significant resources to launch the project, and will partner with the center on a research project for students in a marketing course scheduled for spring Associate Dean and Boeing/Scott and Linda Carson Professor of Marketing David Sprott will teach the course, intended for a small group of senior-level students. Wells hopes to partner with other outside organizations in the future, offering them state-of-the-art research while allowing students to experience real-life projects. Boeing is leading the way and providing a great model for other firms to leverage the center and involve students in realworld research projects, says Wells, whose own research focuses on human computer interaction in a business-toconsumer electronic commerce context, and has appeared in outlets including Information Systems Research, Journal of Management Information Systems, and European Journal of Information Systems. For more information on the CBBR, please contact John Wells at or Justin Marquart, director of development and college relations, at Dividend 15

18 Catapult Your Career When you join the WSU Alumni Association, you ll gain instant access to our new Career Support Services and these valuable benefits: LinkedIn with Cougars: Join the most popular and expansive online networking tool around Cougar Business Network: Find Cougar-owned businesses across the state, nation, and world Cougar CareerBeam: Launch yourself into a massive job-search database and resource center, and find Cougars in management roles WSU CareerLink: Discover a growing suite of Webbased résumé, job posting, and recruiting tools Northwest wines have brought richly deserved, worldwide acclaim to the region. Washington State University has educated many of today s wine-industry leaders and is helping to educate the industry leaders of tomorrow. The Wine-By-Cougars (WBC) wine club was established to celebrate the premium, hand-crafted wines Cougars produce and the significant role WSU alumni play in the northwest wine industry. Kaplan Test Prep: Receive discounted rates on preparation courses for advanced degree and professional licensing exams And for those alumni over the age of 40, North 40 Network offers one-on-one career assessment, consultation, and career action plan development Join today and connect with thousands of Cougars, advance your career, prepare to achieve your professional goals, and enhance the success of Cougar-owned businesses. Whether you attended WSU or not, you can enjoy premier Cougar-connected wines by joining WBC. As a member of WBC you will receive four times per year a selection of Cougar-connected wines which showcase some of the best the state of Washington, the region, and the world have to offer. We invite you to join WBC today and start enjoying superb Cougar-connected wines delivered right to your doorstep.

19 A l u m n i P r o f i l e Hotel Entrepreneur Craig Schafer 76 WSU was the catalyst By Malia Jacobson Every would-be entrepreneur needs training, discipline, and patience particularly those in the hospitality industry, where the capital investments, and the stakes, are often sky-high. Craig Schafer ( 76 Hotel and Restaurant Administration), owner of the Hotel Andra in downtown Seattle and the newly-opened Hotel Modera in Portland, has all three. Over the past 15 years, Schafer has owned various hotels in the Seattle area, and from 1985 to 2000 he served as founder and president of Colliers International Hotel Realty, a first-of-its-kind hotel brokerage in the United States and Canada. Hotel ownership was a lifelong ambition for Schafer, a native of Tacoma, Washington. I just wanted to be the one calling the shots. After beginning his career with Westin Hotels and Resorts in 1976, he returned to school for more business training, earning an MBA from the University of Puget Sound in Afterward, he worked for a national CPA firm that specialized in the hotel industry. There he learned the financial side of hotel operations and development experience that was critical to his success as a hotel broker and owner, he says. I see a lot of younger people who want to come out and own their own business without understanding the broader aspects of ownership, says Schafer. They need to spend several years working in the industry before they re mature enough to own a business and be successful. Breaking into hotel ownership can be especially tough for newcomers because of the high capital requirements. Young people who want to own a hotel need to work toward ownership from a young age. It takes disciplined saving, and getting people to trust you, he says, adding, The first deal is the hardest deal. The current economic climate is a complicating factor, although Schafer sees the downturn as a time of opportunity. He says this is the fastest, steepest decline he s seen in his career. It s going to take quite some time to get back to where we were in terms of profitability and valuation. For those with patience and access to capital, however, recessions are a great time to build or improve a property. Hotel Andra is slated for a $2 million bathroom upgrade this year a project that would have cost $3 million two years ago. Schafer lives in Seattle with his wife and two children and gives back to his community through volunteer leadership. He is immediate past chair of the board of the Seattle Convention and Visitors Bureau, a member of the Pike Place Market Foundation Board, treasurer of the WashingtonFilmWorks Board of Directors, president of Tourism Alliance of King County, and president of Advocates for Convention Center Expansion. Discipline, patience, timing and world-class training are keys to success in hotel entrepreneurship, he says. Without the hotel program at WSU, I wouldn t own this hotel. It s what put me in the position to work for Westin, and get my start. Without a doubt, my education at WSU was the catalyst. Dividend 17

20 Student Travelers Promote Study Abroad Global learning is a top priority for the WSU College of Business, and is reflected in the college s Global Learning Requirement. The best way for students to fulfill this requirement is through study abroad and immersion in a different culture. In , the college will offer programs in Switzerland, China, Greece, Thailand, and Italy. Student interns with study abroad experiences help to promote these programs to students looking to participate in study abroad for the first time. Here are some of their stories. 18 WSU College of Business

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