May 16th, 2013 by Allison Elias
IBiS Academic Director Greg Fairchild’s interest in community development finance has led him to explore the social impact of opening new credit union branches in “unbanked” Latino communities. This work was recognized in December 2012 by the Jesse Ball duPont Fund as exemplifying how partnerships between universities and community development financial institutions (CDFI) can significantly strengthen local places and increase opportunity and access for all people.
In his research, Fairchild discovered that, on average, when the Latino Community Credit Union (LCCU) opened new branches in underserved areas, armed robberies declined by 22.6 percent and properties values rose by 3.8 percent. Read his research report coauthored with Kulwant Rai:
Fairchild also has coauthored a teaching case and technical note on the emergence and development of credit unions in Latino communities:
- Teaching Case: Credit Where Credit Is Due: The Latino Community Credit Union (UVA-ENT-0104)
Technical Note: The Dime That Started A Movement: The History and Development of Credit Unions (UVA-ENT-0103
Apr 25th, 2013 by Allison Elias
Germany’s Energy Transition: Any Lessons for North America?
Tuesday, April 30th, 1:30-2:30 p.m., Darden-Classroom 170
Please RSVP to Allison Elias
Germany has set aggressive renewable energy targets as well as goals for phasing out the use of nuclear energy. Dr. Hermann Ott, scientist and member of the German Federal Parliament (Bundestag) for the Green Party will join us for a discussion about Germany’s energy transition. He will also answer questions about potentially lessons for North America, as well as international collaborations to address climate change.
Born in 1961, Dr. Ott studied law and politics at universities in Munich, London and Berlin, attaining a doctorate in jurisprudence in 1997. He worked as a defense lawyer and attorney from 1992 to 1994, joined the Wuppertal Institute for Climate, Energy and Environment as a Senior Research Fellow in 1994 and later served as Director of its Climate Policy Division. From 2004 to 2009, he was the Head of the Wuppertal Institute’s Berlin office. From November 2000 to June 2001 he served on the Policy Planning Staff of the Foreign Federal Office in Berlin. Author and co-author of numerous books and articles on climate policy, environmental policy and global governance, Dr. Ott had been a member of the Supervisory Board of Greenpeace Germany from 2001 to 2007.
Dr. Ott will discuss the challenges and successes of Germany’s energy revolution, and his vision for how distributed generation by solar and wind energy enables democratization of energy resources. Bring your questions about traditional energy sources, business model challenges and opportunities for solar and wind companies, climate science and more!
IBiS is holding this event in collaboration with the Boell Foundation and U.Va.’s Center for German Studies.
Apr 2nd, 2013 by Allison Elias
The Initiative for Business in Society has partnered with the Law School’s John W. Glynn, Jr. Law and Business Program to hold a one-day symposium on Friday, April 5th, 8 a.m. to 3 p.m., Caplin Pavilion, UVA School of Law. This annual event will focus on the JOBS Act (Jumpstart Our Business Startups Act), featuring panels on the investor perspective, the entrepreunuerial impact, and the details of the legislation. Darden’s Sean Carr, Director of Intellectual Capital, Batten Institute, and Darden’s Susan Chaplinsky, Tipton R. Snavely Professor of Business Administration both will chair panels.
Thanks to Victoria Morphy, Editor-in-Chief, Virginia Law & Business Review, for her hard work in organizing many aspects of this symposium.
Mar 25th, 2013 by Allison Elias
IBiS Executive Director Dean Krehmeyer calls for changing conceptions of leadership to guide the increasingly intertwined realms of business, government, and society into the new global era. In his editorial piece, “Time for a New Era of Leadership,” in the Sunday, March 24th Richmond Times Dispatch, Krehmeyer writes:
National economies that were once largely autonomous are now intricately interconnected. Economic interconnections, however, are only one aspect of the new era of globalism. A recent report from the World Economic Forum (WEF) describes a global landscape that includes environmental, geopolitical, societal and technological interconnectivity.
Krehmeyer explains how IBiS can help to “navigate and innovate along all aspects of the new global era —environmental, geopolitical, societal, technological and economic.”
Mar 11th, 2013 by Allison Elias
In his January 5th “Case in Point” for the Washington Post, “Strategic Changes Should Take Context Into Account,” Assistant Professor Bidhan “Bobby” Parmar explains why business leaders’ initiatives for change often fail. He demonstrates that leaders need to consider an organization’s ecosystem when implementing their strategic plans. From reading case studies and doing consulting work, Parmar noticed similarities between the successful adoption of new organizational practices and the survival of biological distinct species in a new environment:
As an analogy, think about what determines the success of a species moving into an ecosystem. To survive, it needs food, water and a lack of such threats as predators. Successful adaptation is largely determined by the fit between the species and its new environment.
Parmar’s concept of organizational ecology means that instituting change requires attention to many factors that managers might not have identified as key to the success of an organizational intervention. Managers must also strive to have a complete understanding of the ecosystem, which requires an understanding of the relevant 1) assumptions (how stakeholders think and feel), 2) artifacts (tangible technologies, procedures, and physical spaces which shape behavior) and 3) interactions (patterns of behaviors and relationships).
By identifying which of these factors supports or hinders the change initiative, managers can help their efforts flourish in the organization.
Parmar more fully fleshes out his ideas in a technical note, UVA-G-0631, A Framework for Improving Organizational Interventions, released in July 2012 by Darden Business Publishing.
Mar 1st, 2013 by Allison Elias
IBiS Academic Director R. Edward Freeman is teaching one of the first massive open online courses, or MOOCs through Coursera, an online education platform. Registration is free for this six-week course and can be completed here.
“New Models of Business in Society” offers a revolutionary perspective on the role that business plays in society, drawing on Freeman’s development of the field of stakeholder theory. He examines the emergence of a new story about business, a story that locates business within a societal framework. A number of new models of business can be built on this idea of business within society such as corporate responsibility, philanthropy, shared value and sustainability. The course demonstrates that profits and stakeholder value go together. The final session explores the idea of how to become a stakeholder entrepreneur and create a business that makes money and makes the world a better place.
By offering “New Models of Business in Society” through Coursera, Freeman is allowing students from around the world to have access to the thought leadership that Darden students enjoy. Freeman is one of the University of Virginia’s most distinguished professors, holding the title of Elis and Signe Olsson Professor of Business Administration, and being the first faculty member in Darden’s history to be named a University Professor. This rare honor is accorded to less than 20 professors among the more than 2,200 professors at UVA.
The University of Virginia partnered with Coursera in July 2012. Coursera co-founder Daphne Koller spoke to a room of students, faculty, and staff at Darden that was filled beyond capacity on February 20th as part of the Leadership Speaker Series. Her talk can be viewed here (55:22). When asked about potential revenue models, Koller emphasized the importance of keeping the courses free as part of her original mission of expanding access to world-class university classes. She and her partner Andrew Ng are exploring other ways to generate revenue, including charging for certifications or providing student data (with student consent) to employers for a fee.
Feb 27th, 2013 by Allison Elias
Kip Tindell, Chairman and CEO of The Container Store, spoke to an engaged audience on Thursday, February 7th as the keynote speaker for the 2013 Business in Society Conference, an event co-sponsored by IBiS and Darden’s Net Impact Club. His visit was also part of the Leadership Speaker Series, which has brought corporate leaders, such as CEO John A. Luke Jr. of MeadWestvaco, an IBiS founding corporate partner, to Darden to share insights and expertise with student, faculty, and staff.
Tindell maintains an employee-first culture, which has landed The Container Store on Fortune magainze’s list of “100 Best Companies to Work For” 13 years in a row. He is involved in Conscious Capitalism, Inc., a community of like-minded business, thought and academic leaders working to elevate humanity through a conscious approach to business. Along with Tindell, IBiS Academic Director R. Edward Freeman also serves as a Director in the Conscious Capitalism organization, providing thought leadership based on his renowned stakeholder theory approach to business.
Read the Darden Media release and watch the video of Tindell’s speech here.
The Olsson Center for Applied Ethics is writing a case on The Container Store that will be released through the Darden Case Collection soon.
Feb 18th, 2013 by Lisa Stewart
Lunch discussion with Kerry Hilton
Registration – In Business for Freedom
Co-sponsored by EMDC, Net Impact & DSAS – Samosas & Chai provided
In 2001 Kerry founded Freeset Bags & Apparel as a means to provide alternative employment and economic freedom to women who were victims of India’s notorious sex trade. Operating in Sonagacchi, India’s largest red-light district, Freeset has enabled ~200 women to escape debt, servitude and social exclusion and brought light to the issue across the world.
Today, Freeset is excited to take the next step and use sustainable businesses to bring economic freedom to the heartland of India. Attendees will learn about what has been done thus far and discuss what is possible for the future!
Feb 14th, 2013 by Allison Elias
Dan Addison, U.Va. Public Affairs
On Monday, February 11th, as the highlight event of the Up to Us campaign at UVA, U.S. Senator Mark Warner (D-Va.) spoke about the national debt at Newcomb Hall. Up to Us is a student-led campaign on ten college campuses across the nation, aiming to increase awareness about the rising federal debt. Along with Darden’s Initiative for Business in Society (IBiS), the UVA campaign has received backing from other University programs including the Batten School of Leadership and Public Policy, the School of Law, the Miller Center, the Department of Politics, and the School of Engineering and Applied Sciences.
Warner told around 500 audience members that the national debt “is the most important issue we face in our nation” and that “both sides [the Republicans and the Democrats] have got the blame on their hands.” The federal deficit increases by $3 billion every 24 hours. However, Warner believes that lawmakers could eliminate $4 trillion off the total debt in the coming decade, as “our economy is poised for a dramatic recovery.”
Watch Senator Warner’s Speech (1:00:39)
Or for further information see coverage on Senator Warner’s website, in The Daily Progress, in The Cavalier Daily, and by UVA Today.