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Strengthening Latino Communities

May 16th, 2013 by

UVA-darden-study-2011IBiS 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)

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Germany’s Energy Switch–Lunch Discussion on April 30th

Apr 25th, 2013 by

Germany’s Energy Transition: Any Lessons for North America?2Hermann Ott 043013

Tuesday, April 30th, 1:30-2:30 p.m., Darden-Classroom 170

Lunch provided

Please RSVP to Allison Elias

(eliasa@darden.virginia.edu)

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.

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Law & Business Symposium this Friday

Apr 2nd, 2013 by

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.

 

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EMDC brings social entrepreneur to Darden to share experience, vision

Apr 1st, 2013 by

Kerry Hilton at Darden

Kerry Hilton at Darden

Founded by Kerry and Annie Hilton in 2001, Freeset is a fair-trade business operating out of India that makes jute and cotton bags and shirts for customers around the world.  It offers employment to women trapped in the Sonagichi red-light district of Kolkata, giving them the opportunity leave their work in the sex trade.  Freeset profits are used exclusively for the benefit of the women (and of the few men) who are working there.

Initiated and organized by CJ Jain, Darden 2014 student and President of the Emerging Markets Development Club (EMDC) (read the EMDC blog here), Mr. Hilton came to speak at Darden on February 25th.  The lunch discussion was co-sponsored by the Darden South Asian Society, Net Impact at Darden, and EMDC.  Darden 2014 student Patrice Yao has shared her perspectives on the event below:

 

This past week, I had an opportunity to hear from FreeSet founder Kerry Hilton and volunteer Anna Kim as part of Darden’s ‘chai & samosas’ leadership speaker series.  Kerry and his wife founded an organization called FreeSet to provide employment to women in Kalcutta, India who were trapped in human trafficking and prostitution.  The presentation was not easy to digest- there were personal stories of women who had been forced into prostitution- it made me think of both the freedoms that I have, but also the responsibility I have as a civic and business leader.  Kerry’s organization has grown to employ 200+ of the estimated 10,000 women that are trafficked in the Kalcutta region.  They have started to research other business opportunities that could grow and employ women, either in Kalcutta, or other areas around the world experiencing similar issues.

In the midst of our fast paced FY courses and looming exams, this presentation gave me pause to remember the impact that we can all have as business leaders in our local community and as far away as Southeast Asia.  Kerry mentioned several times that he didn’t have a formal MBA or business degree- he simply had a heart for the people of Kalcutta, and a desire to make an impact for the local women.  Many of us stayed after the presentation to chat with Kerry and Anna, and asked about volunteering our time and skills to help as they expand their global operations.  It is my hope that Darden will continue to bring in speakers and non-profits like FreeSet to help us understand the impact that we can have, and the organic/grassroots approach that business leaders can have on communities so far away from Charlottesville, VA.  Given our talented and civic-minded students, I’m certain we will produce many Kerry’s, Anna’s, and FreeSet’s in our time after Darden.IMG_5110

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Time for a new era of leadership

Mar 25th, 2013 by

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:

Krehmeyer

Krehmeyer

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.”

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Strategic Changes Should Take Context Into Account

Mar 11th, 2013 by

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).  

Bobby

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.

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Registration Now Open: Freeman’s New Models of Business in Society

Mar 1st, 2013 by

ed teaching2IBiS 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.

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Container Store CEO Kicks Off 2013 Business in Society Conference

Feb 27th, 2013 by

Tindell3 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.

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Freeset Bags and Apparel Founder to Speak at Darden on 25 February 2013

Feb 18th, 2013 by

Lunch discussion with Kerry Hilton

 Registration – In Business for Freedom

Co-sponsored by EMDC, Net Impact & DSAS  – Samosas & Chai provided

Freeset Kerry Hilton

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!

 

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With IBiS Backing, Senator Warner Visits UVA to Discuss National Debt

Feb 14th, 2013 by

Dan Addison, U.Va. Public Affairs

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.

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