Chapter Handbook 2•0•1•6 Welcome to Smith Soc Welcome to Smith Soc Chapter Handbook 2•0•1•6 Table of Contents I. WELCOME TO SMITH SOC 06. Mission & Introduction 07. General Principles & History 08. About Student & Professional Chapters II. YOUR CHAPTER 11. Budget & Funding Guidelines 12. Chapter Expectations 14. Starting a New Chapter 15. Events 17. The Academic Calendar 18. The Speakers Bureau 19. Social Media & Promotion Guidelines 20. Annual Awards III. BEYOND CAMPUS 23. National Events 24. Professional Chapters 25. Smith Soc Treks 26. Special Opportunities IV. Appendices 28. Contacts 30. A. Sample Chapter Agreement 32. B. Our Forms 39. C. Chapter Plan & Budget Guidelines 40. D. Recent Speakers 5 5 WELCOME TO SMITH SOC Mission & Introduction The Adam Smith Society is a nationwide, chapter-based association of MBA students and business leaders who believe that business, entrepreneurship, and commerce are wellsprings that keep this country vibrant, creative, prosperous, and free. We aim to build an influential network of future business leaders dedicated to preserving and strengthening the free-market economic system. In concert with dedicated MBA student leaders, the National Office of the Adam Smith Society underwrites and helps to coordinate a series of exclusive events that give MBA students and alumni access to prominent business leaders, academics, journalists, and public officials. Speakers discuss their experiences and offer insights about the connections between successful businesses, the maintenance of our nation’s free institutions, and a robust civil society. The Adam Smith Society also convenes national and regional programming for student and professional members. We hope to inspire business students and young professionals to think about their own responsibility in seeing our economic system endure. As a Chapter Leader, you have accepted a critical role in preserving the spirit of the Society by encouraging debate and discussion about our economic system. The Society relies on the talent and dedication of individuals like you to ensure that business remains characterized as a noble endeavor. To run a successful chapter, you must be able to organize and creatively promote interesting events, participate in robust recruitment, and, in general, attempt to always be an engaging and inclusive ambassador for the Adam Smith Society. Your success will ensure that your chapter has a lasting impact not only on your university, but also on the business world as a whole. Welcome to Smith Soc General Principles America’s heritage of liberty and prosperity owes much to innovators and entrepreneurs; those who imagined new products, processes, and organizations; who took risks; and who embraced the freedom to create and build. Historically, captains of industry have not only driven the growth of the economy, but they have also been among the foremost advocates of the free enterprise system, publicly expounding the broader societal benefits of the market economy. The future prosperity of our nation will depend on tomorrow’s business leaders’ ability to continue this tradition of promoting free markets. The Adam Smith Society works to provide a venue where this discussion of foundational ideas can be explored and applied to the current economic environment. We believe that MBA students should acquire more than just expertise in areas such as management, marketing, and quantitative analysis, as important as these skills are. They should also come to understand—and be able to defend—the nature of the economic system that fosters job creation, wealth generation, the alleviation of poverty globally, and scientific innovation. History In late 2010, the Manhattan Institute partnered with the Marilyn G. Fedak Capitalism Project and began to explore the possibility of building programming at elite U.S. business schools. Taking the Federalist Society and their success at reinvigorating a discussion of constitutionalism and America’s founding principles within law schools as a model, our goal was to create a new organization that would provide future business leaders with access to contemporary thought leaders who were at the forefront of understanding and promoting the market economy, while giving young men and women the tools they needed to promote a positive and thoughtful understanding of the free market system on their campuses. We began recruiting MBA students to found chapters of the Adam Smith Society at their home business schools in 2011. These students were committed to engaging in dialogue about individual liberty, limited government, and free enterprise— “big picture” ideas—amongst MBA students. With financial assistance and programming guidance from the Manhattan Institute and the Marilyn G. Fedak Capitalism Project, chapters began to host events with prominent business leaders, journalists, and public officials who inspire students to think about their own responsibility in seeing our economic system endure. In our first five years, we launched 25 student chapters, five professional chapters, and grew our membership to over 4,000 members. Looking ahead, we anticipate that one of the biggest impacts of the Adam Smith Society will emerge vis-à-vis our Professional Network. Just as the Federalist Society’s network now includes Supreme Court justices and attorneys at prestigious law firms, we envision our members having commensurate success in business, politics, the media, and other fields. These executives, financiers, and entrepreneurs of tomorrow must be willing to assume a responsibility for perpetuating—and, in key areas, restoring—America’s commitment to a fair, open, and competitive market economy. Over the long term, we hope to see members of the Adam Smith Society emerge as articulate, passionate advocates for free enterprise. We envision professional members in upper management, on boards of Fortune 500 companies, and in leadership in key government institutions. About Student & Professional Chapters The Adam Smith Society is composed of two types of chapters: student chapters and professional chapters. Our student chapters are located at most of the nation’s top MBA programs, and we continue to actively grow the number of participating schools. The goal of our student chapters is to sponsor programming for MBA students interested in the free market and a free society, and give these chapters opportunities to connect with business leaders and experts who share this vision. Although guided and supported by our National Office, the student chapters are organized and led by current MBA students on each campus. Additionally, the Adam Smith Society is committed to maintaining and growing a community of market-minded professionals outside of MBA programs. We maintain a professional network for this reason. Our professional chapters provide the key to this network, and are currently active in six cities and counting. Professional chapters are comprised of Smith Soc alumni, as well as professionals in each city who are interested in our mission, but either did not have a chapter on their campus or missed the opportunity to join as a student due to timing, location, or other factors. Professional members receive invitations to industry and policy specific salon dinners, receptions, and talks with established business leaders, journalists, academics, and other thought leaders as featured guests. The connections between our professional and student chapters are multifaceted and strong. Smith Soc alumni are welcomed as professional members after graduation. We may approach student chapters in areas with a professional chapter to participate in collaborative events when such opportunities arise. We also encourage our alums to actively participate in professional chapters in other ways. Active members are invited to serve on the host committee for their city’s professional chapter. Alumni in cities without professional chapters can help us in our efforts to start chapters in new cities. Additionally, all alumni are welcome to participate in programs in existing professional chapters, should travel find them in a city with active professional programming. Finally, the online Smith Soc Member Directory (available on our website to Smith Soc members) gives student and professional members the opportunity to connect and network one-on-one. Welcome to Smith Soc 9 YOUR CHAPTER Your Chapter A. Budget and Funding Guidelines FUNDING The Adam Smith Society requires that all chapters submit a plan, including an estimated budget, for their yearly activities. The budget should include event and venue costs as well as speaker travel. A sample Chapter Plan and more information on approximate costs can be found in Appendix C. Following are the requirements that all chapters must conform to when budgeting and running their operations. SPEAKERS ◆ Speaker honoraria are paid directly by the National Office. These costs do not come out of your chapter budget. ◆ For this reason, the National Office must approve all speakers and National Office staff must sign any and all funding agreements between speakers and/or outside (see sections on Events and Speakers Bureau, below). ◆ Chapter leaders may not sign agreements with outside organizations. ◆ Note that while the National Office covers honoraria directly, travel costs incurred by speakers do count against your chapter budget. ADDITONAL/SPECIAL EVENTS ◆ If a chapter wishes to host an event or activity outside of their approved plan, or that requires additional budget, it has the option to apply