JOHNS HOPKINS SPRING 2018 MAGAZINE CAREY Scoring Success BUSINESS in the Sports Arena SCHOOL Meet three alumni with leadership roles in pro athletics

By the Numbers Consumers seek out companies that take a values-driven approach

COIN FLIP Cryptocurrencies are all the rage. But should they be in your wallet? JOHNS HOPKINS CAREY BUSINESS CAREY SCHOOL BUSINESS SPRING 2018

FEATURES

8 COIN FLIP Cryptocurrencies may be the money of the future, or a fraud. Carey faculty members are among the experts trying to answer the question: Should digital currencies be in your wallet? By Richard Byrne

14 BY THE NUMBERS More companies appear to be making a values-driven approach central to their business mission – because it’s the right thing to do, and consumers are demanding it. By Sue De Pasquale

16 THE SPORTING LIFE Meet three Carey Business School alumni who are key players in the high-stakes and increasingly profitable world of professional athletics. By Greg Rienzi

DEPARTMENTS

2 DEAN’S MESSAGE 22 OTHER BUSINESS  Your success depends largely on Carey’s burgeoning Executive the networks you build. Education program, $1 million prize for Flex MBA student, a visit by Barbara 3 EDITOR’S NOTE Mikulski, victories in case competitions,  Cal Ripken has nothing on this Carey library expansion, new high for Career professor’s 40-year streak. Fair, Kudos, and more. Workers in Haiti take part in an initiative by the footwear 3 CAREY IN THE NEWS 27 ALUMNI NEWS company Timberland to plant  Coverage by The New York Times,  News and notes about graduates 5 million trees over five years in The Washington Post, The Associated of the Carey Business School. Also, the Caribbean nation, targeting Press, The Guardian, Forbes, NBC the latest list of the members of the its severe decline in tree News, Knowledge@Wharton, Dean’s Alumni Advisory Board. populations. Since 2001, the Bloomberg, USA Today, The Globe company says, it has planted and Mail (Toronto), Inside Higher Ed, 32 CAREER FILE about 9 million trees worldwide. The Baltimore Sun, and more.  Advice from a Carey faculty expert See page 14 on management education and 6 PERSPECTIVES collaborative learning: Failure is most The #MeToo movement as a work definitely an option. in progress, and the power of diverse experience.

OPPOSITE: PHOTO BY ANDRES CORTES, COURTESY OF TIMBERLAND COVER ILLUSTRATION: MICHAEL WARAKSA

DEAN’S MESSAGE EDITOR’S NOTE CAREY More on page 4 > IN THE CASTING A WIDE NET PLAY BALL! NEWS Even the most casual sports fan knows that profes- Why build a network? sional athletics has grown into a huge industry. After many years in business, I still hear this question. My view is that Particularly at the top levels of pro sports, the money being made by players, teams, leagues, TV networks, ‘FILLER WORDS’ the extent of your network – the people with whom you foster strong and and advertisers reaches astronomical proportions. CAN BE SO HARD mutually beneficial relationships in both your personal and professional (Yes, we’re looking at you, New York Yankee Giancarlo Stanton, with your MLB-record contract of TO, UH, LIKE lives – often determines how successful you will be in the long term. $325 million for 13 years. Ditto for you, NFL, and the reported $3 billion that Fox will pay you for the rights An NBC News report March 9 on the pros and cons This is particularly important for business school San Francisco, and New York. Another opened to Thursday night games for the next five seasons.) of conversational “filler words” such as “umm,” “so,” graduates as they take what they’ve learned in in the Mid-Atlantic region last year, and we In this issue of Carey Business, we devote one of the classroom and use it to develop their careers. recently celebrated the launch of our new our full-length features, “The Sporting Life” (page 16), “like,” and “uh” featured an interview with Assistant Carey Business School alumni are fortunate club in Boston. Our first alumni club in the to the success that three Carey alumni have enjoyed Professor Steven Cohen, an expert on business to belong to a variety of networks, starting Midwest, based in Chicago, should be up and as key figures on the business side of sports. No, they may not make anything close to Giancarlo money, communication and the academic program director with family and friends. They can also count running in weeks. but they are doing themselves and their alma mater for Executive Education at Carey. Filler words on their Johns Hopkins family. The university’s These clubs have helped greatly in the proud, putting to good use the business insights they should be avoided, because alumni network has a total of 212,000 graduates growth and nurturing of our alumni network. gained while earning their degrees at Carey. worldwide. That includes more than 25,000 I invite all Carey graduates to reach out to the they distract from the from Carey. club nearest them so they might become better Someone who’s not a casual fan, especially when intended message and Indeed, the ranks of Carey alumni have been engaged with their fellow alumni. (Drop an it comes to her hometown Orioles and Ravens, is harm the speaker’s growing rapidly; nearly 6,000 full- and part-time email to [email protected].) Carey Associate Professor Toby Gordon. This past degrees have been awarded in the past five years. As alumni, you are the most important ambas- March 29, as she prepared to attend the Baltimore credibility, Cohen said. But what most impresses me about our sadors of the Carey Business School. The work Orioles’ Opening Day for the 40th year in a row, Toby One of his tips for killing graduates, beyond mere numbers, is that so you do and the support you give one another penned a short piece about her amazing streak and the filler: At a pause point, emailed it to friends and colleagues. many of them are eager to make Carey an play a significant role in elevating not just your skip “umm” and say, even better school. They give back by joining own careers but also the reputation of Carey. Because it’s spring, and because this issue a board, getting involved in a school event, And if you haven’t done so in a while, come includes a sports-related feature, I thought it would “That’s a good question” or AS ALUMNI, YOU ARE be fitting, and fun, to share Toby’s email here (with making a financial gift, finding employment home from time to time and visit the school. “Let me think about that THE MOST IMPORTANT her kind permission): opportunities for our graduates, and serving as See how we are continuing to thrive. Stay con- for a minute.” AMBASSADORS OF THE “Today my Johns Hopkins friend and colleague, mentors to our students, just to mention a few nected by completing our surveys, sending your [Children’s Center administrator] Ted Chambers, of the ways they contribute. professional updates to Carey Business, telling CAREY BUSINESS SCHOOL. and I are attending our 40th consecutive Baltimore Over the past 3½ years, Carey has been us the stories of your successes. We are looking THE WORK YOU DO AND Orioles Opening Day. Our streak started when we working to make it easier for our alumni in dif- forward to seeing and hearing from you. were in graduate school together at JHU’s public ferent parts of the world to stay connected with THE SUPPORT YOU GIVE health school in 1979. each other and with the school, through the ONE ANOTHER PLAY A “As part of our tradition, we wait for tickets to come establishment of alumni clubs. We started with SIGNIFICANT ROLE IN our way or buy them at the last minute. Over the years we’ve gone from buying them from scalpers to online a Beijing club in late 2014, and by the summer ELEVATING NOT JUST YOUR of 2016 clubs had been launched in Shanghai, Bernard T. Ferrari, Dean purchases. We’ve taken our kids to the game from OWN CAREERS BUT ALSO toddler days to adulthood. We are training them to THE REPUTATION OF CAREY. keep the streak going for us even if they have to roll us in wheelchairs when we are in our 90s. “It’s a laidback day, when once a year we rehash prior years and games, reminisce about the good old days at work and old friends, but mostly we just CAREY BUSINESS Carey Business is available in a print edition enjoy the game. We are proud that we were at Cal and online at careybusiness.carey.jhu.edu. Associate Dean for Global Marketing Please direct all correspondence to Editor, Ripken’s first Opening Day as an Oriole, when he hit and Communications: Kiera Hynninen Carey Business magazine, Johns Hopkins a home run (in his first at bat, as I recall), and that Director of Communications: Tim Parsons Carey Business School, 100 International our streak outlasted his. A few close calls threatened Drive, 6th Floor, Baltimore MD 21202- Writer/Editor: Patrick Ercolano 1099, or call 410-234-9290. To submit a the streak. I gave birth to my youngest son two days Consulting Editor: Sue De Pasquale class note, write to the above address or after the first game at Camden Yards, and we’ve had Design: Skelton Sprouls Inc email [email protected]. (By submitting a note, you give Johns Hopkins snow and rain on Opening Days. Eventually I will Photos: Homewood Photography (except where noted) University permission to edit and publish make a scrapbook with ticket stubs and photos that Administrative Support: Kelly Cumberledge your information in the print magazine and show us aging across the 40 years, though person- the online edition. Thank you.) ally I think we look the same as in 1979.” – PE

2 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 3 CAREY IN THE NEWS

QUICK HITS “ THERE’S A 1.5 BILLION-PERSON ENVIRONMENT AND ECONOMY ACADEMIC MINUTE article that India is underserved MARKET READY FOR THEM. “Health Benefits of a Congestion by traditional banking services, [STEPHEN] CURRY IS BELOVED Bloomberg Distinguished Professor Tax,” January 11, 2018. In an but the internet connectivity of THERE, SO OF COURSE CHINA Paul Ferraro, who studies the audio commentary for the nation- many millions of Indians could REPRESENTS AN OPPORTUNITY economic impact of environmental ally broadcast Academic Minute provide them with the financial FOR UNDER ARMOUR.” policies, commented in a January program produced by WAMC tools they need. "An entire gen- article in The Guardian on New CAREY'S RICARD GIL, QUOTED BY THE ASSOCIATED PRESS, ON THE York City’s five-year plan to divest public radio in Albany, New eration of Indians leapfrogged POPULARITY IN CHINA OF NBA SUPERSTAR STEPHEN CURRY, York, Assistant Professor Emilia the use of personal computers WHO HAS A PRODUCT ENDORSEMENT DEAL WITH its pension funds of approximately Simeonova described her research and laptops to connect to the BALTIMORE-BASED SPORTS APPAREL COMPANY UNDER ARMOUR $5 billion tied to fossil fuel showing that a tax on driving in internet via mobile devices. A production. “Divestment isn’t CAUTION FLAGS Stockholm, Sweden, decreased similar leapfrogging,” Aron about economically punishing businesses, it’s a tool of collective action that can politically isolate companies,” Ferraro said. “New Adjunct Professor Richard Koss published two articles in pollution and significantly low- said, “could take place in certain York is fabulous in this respect because it’s so visible and it gives early 2018 for the Bloomberg View website, one on the ered the rate of asthma among categories of financial services others room to create change. But it will only work if everyone government’s lackluster efforts to reform Fannie Mae and local children. (Academic Minute such as payments, lending, and follows, much like how everyone has to reduce their electricity Freddie Mac, and the other on the need for regulators to is also featured daily on the Inside wealth management." use collectively for it to have a consequence for climate change.” address the boom in nonbank lending. In the lead of the Higher Ed website.) Simeonova’s TECHNICAL.LY/BALTIMORE Ferraro also was quoted in a New York Times Magazine feature in latter piece, Koss didn’t mince words: “The last financial study also was covered in an “Baltimore students learned about March on federal proposals to revise the Endangered Species Act crisis occurred in part because unregulated lending in the extensive article in THE WASH- building games and tech careers at in a way that would give more consideration to the economic impact mortgage market got out of hand. Believe it or not, it’s INGTON POST on March 27, HackCarey,” February 19, 2018. of species protections. Economic and environmental trade-offs are starting to happen again, and could ultimately precipitate 2018 (“Congestion pricing also The technology-news website bound to happen when protections are determined, Ferraro told the another disaster unless regulators get their act together.” clears the lungs, researchers say”). reported on the fourth version Times: “The fact is that when you spend resources on one species, USA TODAY of HackCarey, an annual event you by definition are not spending them on another. In the end, “This kind of small-business in which a few dozen students you can’t get away from putting values on species.” thinking can lead to big changes from Baltimore public high SUPERSTAR, TRUST (and big bucks),” January 19, schools come to Carey’s Harbor SUPERHERO IS A MUST 2018. The national newspaper East campus for hands-on les- Two pop culture phenomena – boon for his apparel supplier, reported on the $1 million prize sons in computer coding and NBA superstar Stephen Curry Baltimore-based Under A research colleague of won by MBA student Kevin app development. and the movie megahit Black Armour. Gil observed in the Associate Professor Brian A HELPFUL White in the WeWork Creator Panther – were the subjects other article, in Bloomberg, NUDGE Gunia, Amit Nandkeolyar of Awards competition. (For more POLITICO of recent stories that quoted that Black Panther’s success the Indian School of Business on White, see page 24.) “Nonprofit generic drug venture Associate Professor Ricard with both black and white The Globe and Mail of Toronto in Hyderabad, wrote an could include third of hospi- Gil. In the first piece, for The audiences was not surprising reported in February on a recent NBC NEWS article that appeared last tal market,” March 19, 2018. Associated Press, the Carey given its similarity to other study co-authored by Associate “Hospitals made $21B on Wall fall in Forbes India about This article arose from the economist noted that Curry’s action/superhero movies Professor Mario Macis, which LET’S GET Street last year, but are patients their work on the role of trust Drug Accessibility and Pricing popularity in China could that have been big hits at the observed that expectant mothers DIGITAL seeing those profits?” February are more likely to donate the and distrust in negotiations. Symposium hosted at Carey’s produce a great marketing box office. 7, 2018. Assistant Professor Ge stem cell-rich blood from their The ups and downs of the cyber- (The piece originally Harbor East campus in March. Bai, an accounting expert whose babies’ umbilical cords currencies market has led many appeared in ISBInsight, the The piece focused on remarks by research examines billing in the if “nudged” with information journalists to seek out Assistant research publication of the keynote speaker Dan Liljenquist, health care industry, was quoted about the donation process. Professor Jim Kyung-Soo Liew Indian school.) “Ultimately,” vice president of Intermountain in this report: “We want the BENEFITS OF REGULATION The Toronto newspaper wrote for comment. Liew, an expert the article concludes, Healthcare in Utah, who spoke hospitals to be financially viable. Rather than suppress growth, Maryland’s regulation of hospitals that the study, published in on Bitcoin and other digital “trust matters the most in support of a new nonprofit However, it’s not clear to me that in the state has helped spur investment, Assistant Professor January in the journal Nature, currencies, was interviewed for in negotiations.” venture in which health care they’re channeling those profits Tinglong Dai said in a Baltimore Sun article March 1 on Johns “found that mothers who stories that appeared recently systems such as Intermountain to give patients lower prices.” Hopkins’s plans for a $469 million expansion and modernization of received the most nudges had in outlets including Bloomberg manufacture their own generic its Bayview Medical Center in Southeast Baltimore. “Conventional the highest donation rate: View, Forbes, and Institutional KNOWLEDGE@WHARTON medications. Carey faculty mem- Out of 850 expectant mothers, wisdom says that when you regulate prices, it will stifle invest- Investor. (For more on Liew and “What’s Driving India’s Fintech bers Stacey Lee, who organized 57 cord blood donations were ments and lead to low quality,” Dai told The Sun. “The opposite is this topic, see the lead feature Boom?” February 11, 2018. the event, and Ge Bai were among made when nudging was used, happening in Maryland: When hospitals have stable and predict- of this issue of Carey Business, Associate Professor Ravi Aron the nearly 20 other speakers at compared to 18 to 20 without able revenues and financial stability, they have every incentive to “Coin Flip.”) noted in an interview for this the day-long symposium. the intervention.” upgrade their facility and maintain high service standards.”

4 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 5 PERSPECTIVES

“WILL THE MOMENTUM OutGrowth prides itself on creating the ulti- #METOO: STUDENTS mate immersive learning environment, with the GAINED FROM #METOO students and farmers alike reaping benefits by PLOUGH sharing their respective stores of knowledge. A WORK IN USHER IN A WORKING DIFFERENT By creating powerful partnerships, OutGrowth PROGRESS CULTURE THAT ESTEEMS is committed to lasting impact. WOMEN AND MEN COURSE I’m drawn to this pursuit because I feel Carey experts consider there are few causes in the United States as EQUALLY? EVENTUALLY, Business internships on farms movement’s next phases important as agriculture. It spans industries YES. IN THE PROCESS OF offer purpose, new experiences and issues, from business to education to health to sustainable living. Farming is deeply The hashtag #MeToo has become the symbol GETTING THERE, THOUGH, connected to purpose and community – a of a social revolution, generating public By Anna Fitzgibbon WE CAN EXPECT A connection that college students today seek reckonings from Hollywood to Washington TURBULENT RIDE.” As an avid traveler who spent five years after in their professions. of prominent men accused of sexual harass- college graduation working and volunteer- JAANA MYLLYLUOMA Farms, sustainable small businesses, and eco- ment. The movement also has made a mark ing around the globe, I believe strongly in the friendly companies are sprinkled throughout beyond the media glare, as organizations of power of diverse experience. It does wonders every state. These businesses are helping to all sizes around the world have begun ques- for your quality of life, your understanding and appreciation of other people, and the develop- solve issues surrounding food production. They tioning whether their workplace cultures are Jaana Myllyluoma, lecturer in the practice ment of your personal and professional skills. are creating social good by tackling the food- welcoming and safe for all employees. track with expertise in business leadership desert problems so commonly found in our Most of us tend to view travel as a means of and human values; also an empowerment cities. They promote health and wellness by For this issue of Carey Business, four vacation or escape. I believe it should be used practitioner and executive coach working giving communities access to fresh ingredients members of the Carey School’s full-time as a tool for self-discovery, connection, and and fostering a deep connection to the Earth. faculty with expertise germane to this historic primarily with women in management: purposeful development. moment were invited to express what they And like any business, they have to manage “I see the #MeToo movement in the I’ve long wondered why college students are systems and processes related to marketing, think the movement means and where it context of a larger moral revolution that is expected to go from the classroom to the partnership development, product line expan- might go in the months to come. transforming the way women are valued office with little if any opportunity for truly sion, and grant funding. Colleen Stuart, assistant professor in the Erik Helzer, assistant professor in the and consequently treated. Through the independent decision making, problem solv- Stacey Lee, associate professor in the ing, or even discomfort. The truth is that we That’s where OutGrowth comes in. Just as research track with expertise in collaborative research track with expertise in organiza- extraordinary courage of a few, much of practice track with expertise in business law, not only need to encourage students to build young people need a diversity of experience, work, social networks, and diversity; tional behavior, ethical leadership, and con- this moral revolution has been quietly ris- health law, and negotiation: sought-after career competencies in real-world farmers need the diversity of talent that smart a co-organizer of the fall 2017 “Broadening flict management; also a co-organizer of last ing in societies with culturally condoned “A year from now, I think, the #MeToo settings, we also need to encourage them and engaged college students can provide. Perspectives on Women in Work” fall’s “Broadening Perspectives on Women violence against women. The #MeToo My aim is to guide students toward hands-on, movement will enter its next phase. What to cultivate meaningful and purpose-driven conference at Carey: in Work” conference: movement, in contrast, has swept over project-based work situations that reflect their started out as a few courageous voices careers. How are they to do this if we don’t the entire globe because of its locus in create an environment where they are invited coursework and connect them to meaningful sharing their stories and speaking out “The #MeToo movement is an important “#MeToo teaches us to look beyond sim- the workplace. Social and public media to have new experiences, take a few risks, professional development. against sexual abuse has turned into a moment in history because it is encour- plistic explanations that attribute violence have provided a platform for collec- stumble a little, and perhaps fail miserably? Linked as we are to a school that teaches national, if not international, awakening. In aging long-overdue conversations about and workplace mistreatment of women to tive shaming of perpetrators as well as This spring, while finishing up the work for my “business with humanity in mind,” we are the United States, it is fair to say that the inclusion at work, not only for women ‘a few bad apples.’ The roots of this social empowering victims, with the ensuing Carey MBA, I have been devoting myself to obligated to tomorrow’s leaders, to small movement is accomplishing something but also for minority groups. How our ill are everywhere, from overt inequalities conversations taking place in organiza- creating dynamic experiential opportunities, businesses, and to the planet. If, through that sexual harassment laws have not. institutions respond to this challenge in promotion and status in the workplace tions large and small. The fear of lawsuits connecting students to real-world, project- OutGrowth, I can build a business that stays It is erasing stigmas that have allowed may be the best indicator of its staying to the subtle (and not-so-subtle) ways is no doubt driving some of the impetus based internships. true to those obligations, day in and day sexual harassment to continue – fear of power. Many in positions of power have our language and customs prioritize out, then I will have honored my own profes- for companies to sharpen anti-harass- The company I recently founded, OutGrowth, speaking out and not being believed. In turned a blind eye or even enabled these men over women. Where will #MeToo sional purpose. ment training and office policies; but a will begin this summer placing college the next year, the changing norms of the transgressions, and it is hard to imagine be a year from now? It has surfaced the lasting change has to come from eliminat- students as residential interns for a month movement will transform the law in the Anna Fitzgibbon (MBA ’18) is the founder of lasting change unless our organizational pervasiveness of this problem for us; the ing gender inequalities that largely have at working farms that practice sustainable, area of increased transparency by elimi- Outgrowth (outgrowthtoday.org). A different structures and systems of power funda- success of the movement depends on enabled the mistreatment of women. Will socially conscious methods. The students’ nating sexual misconduct nondisclosure version of this article appeared recently on the mentally change. Initiatives such as the the collective efforts of those with eyes the momentum gained from #MeToo credit-bearing projects will all relate to the agreements, extending statutes of limita- website of Fair Farms Maryland (fairfarmsnow.org). Time’s Up Legal Defense Fund (offering to see. All of us, including policy mak- usher in a working culture that esteems business development of the farms. Students tions for sexual harassment, and allowing legal and public relations support to vic- ers and those in positions of institutional women and men equally? Eventually, yes. will spearhead projects related to marketing, victims to sue perpetrators, enablers, and social media strategy, educational program tims of harassment) and 50/50 by 2020 power, can make a difference if we arm In the process of getting there, though, institutions jointly.” ourselves with behavioral science and development, and other initiatives. (an initiative to achieve gender equity in we can expect a turbulent ride.” leadership roles and pay) are important cultivate a genuine desire to improve life steps in the right direction.” for half of our population. The only thing stopping us is our own willingness.”

6 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL ILLUSTRATION: JENNIFER TAPIAS DERCH JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 7 FEATURE | CRYPTOCURRENCY

CRYPTOCURRENCIES MAY BE THE MONEY OF THE FUTURE. THEY MAY BE A FRAUD. CAREY BUSINESS SCHOOL FACULTY MEMBERS ARE AMONG THE EXPERTS TRYING TO ANSWER THE QUESTION: SHOULD DIGITAL CURRENCIES BE IN YOUR WALLET?

BY RICHARD BYRNE

8 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL ILLUSTRATION: MICHAEL WARAKSA JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 9 CRYPTOCURRENCY WALLET

DIGITAL STORAGE itcoin. Ether. Litecoin. “THE UNDERLYING – known as the “blockchain” – will have far- So what did Nakamoto create – and how DEVICE FOR THE TWO is a leap into a different economic future. “If Whatever name you reaching impacts on how people make legal does it work? CRYPTOGRAPHIC KEYS you make these kinds of assets,” he observes, choose, the phenom- BLOCKCHAIN contracts or purchase health care. But the Cryptocurrencies such as Bitcoin are built REQUIRED FOR THE “that are open and widely accessible, and enon of cryptocurren- prospects for the emerging cryptocurrencies on the “blockchain” – a cryptographically trustworthy in the sense that people believe TECHNOLOGY IS SENDING, RECEIVING, cies is among the hottest themselves remain mercurial, even to those secured and widely distributed digital ledger that they won’t go to zero just because the business topics of the LEGITIMATE AND who are in the thick of the fight. for transactions. These currencies exist in AND HOLDING OF technology breaks down, then they will be past year. Matt Green, an assistant professor of com- digital space and take no physical form, but CRYPTOCURRENCY worth money. And once you have them – But the questions about these new digital HAS THE POTENTIAL the blockchain is where entries to the digital even if the prices are volatile and terrible puter science at the Johns Hopkins Whiting FUNDS currencies are manifold. How do they work? OF CREATING School of Engineering, helped create the ledger are secured and maintained. – and they can be traded electronically and What risks are attached to obtaining or protocol that fuels a cryptocurrency called Users access the blockchain via electronic efficiently, then you can build applications to investing in them? Can they actually become TREMENDOUS Zcash. He observes, “There is a lot of sketchy “wallets.” These devices hold the two cryp- do things that you could not do before.” a new currency? And what are the regulatory EFFICIENCY GAINS stuff going on. So it’s valid to ask if deploying tographic keys – a private key known only The lure of this promise of efficiency and tax implications? all these new currencies makes any sense.” to the owner and a public key established on “THE VOLATILITY is precisely what has Liew bullish about Such questions have created not only ACROSS MANY Cryptocurrency has also occasioned a the blockchain – that are required to store, OF CRYPTO- cryptocurrencies and the potential they hold confusion in markets but also a sharp divide lively debate among Carey Business School send, and receive cryptocurrency funds. to forge innovative ways to raise capital and in expert opinion. INDUSTRIES.” economists. Open your Bitcoin wallet to buy, say, a CURRENCIES IS WAY bring services to customers. “Blockchain Founders and early adopters see cryp- JIM KYUNG-SOO LIEW, Jim Kyung-Soo Liew, an assistant professor milkshake, and a number of things happen. TOO WILD TO DO technology can disrupt almost any industry tocurrencies as a way to bypass centralized ASSISTANT PROFESSOR in finance and real estate at Carey, is bullish. First, your request to spend on the milk shake that has a middle man,” he says. financial institutions and middle men and OF FINANCE AND REAL ESTATE, He co-authored a recent paper recommend- is broadcast to an entire network of comput- ANYTHING RELIABLE One part of the blockchain’s underlying CAREY BUSINESS SCHOOL create a more direct, more secure system ing that investors place a sliver of their port- ers (or “nodes”) that run the cryptocurrency’s strength, says Liew, is the way it distributes of monetary transactions. They are also folios in cryptocurrencies to get ahead of the software. That network (a) authenticates the WITH THEM.” benefits widely through the network that designed in a way that creates wealth for curve, despite the murky landscape. request via algorithms and (b) keeps a perma- NICOLA FUSARI, creates and maintains cryptocurrencies. those building the new currencies. “We looked at it purely from an empirical nent and time-stamped record of it. ASSISTANT PROFESSOR “The economics are very important,” says In late 2017, the financial media exercise and determined that 1.3 percent of Your approved purchase of that milk OF FINANCE, Liew. “The blockchain incentivizes the nodes trumpeted the fact that the number of a traditional institutional investor's portfo- shake with your Bitcoin funds is then welded CAREY BUSINESS SCHOOL correctly. If Satoshi had gotten the formula accounts holding cryptocurrencies at digital lio should have exposure,” says Liew. “Sure, together with other approved transactions wrong, it wouldn’t have taken off.” currency exchange Coinbase (13 million) there’s lots of fly-by-night stuff out there at into a “block” added to a pre-existing “chain” Liew says initial coin offerings hold the had exceeded the number of accounts at the moment, but the underlying blockchain of Bitcoin blocks that began with Nakamo- promise of even greater transformation. An brokerage firm Charles Schwab (almost technology is legitimate and has the poten- to’s very first block. ICO offers investors tokens – which they 11 million). Investors are flocking to tial of creating tremendous efficiency gains This process is how the “blockchain” gets purchase with popular cryptocurrencies or speculate in these new currencies on futures across many industries.” its name – and its growing record of collec- fiat money (physical currency declared legal exchanges or in so-called ICOs (initial Nicola Fusari, an assistant professor of tively authenticated transactions (cemented tender by a government) – to raise capital coin offerings), a cryptocurrency-based finance at Carey, is more skeptical about with cryptography and time stamps) is for a project in development. Closer in challenge to the traditional IPO (initial the immediate prospects. “The volatility of extraordinarily difficult to alter without the spirit to crowdsourcing than the ownership public offering). cryptocurrencies,” he observes, “is way too consent of the entire network that created it. stake offered in an IPO, most ICOs offer Yet the rush to embrace cryptocurrencies wild to do anything reliable with them.” What, then, is the incentive for members no ownership with the purchase of a token. has many vocal (and prominent) naysayers. of this network to authenticate Bitcoin trans- Purchasers may see a sharp rise in token Some economists see the entire concept as AN ASSET REVOLUTION actions? This is the “mining” – or creation of value if the project succeeds, and the use of worthless. Others point to precipitous plum- Even the initial creation of cryptocurrencies blocks – that is an essential part of building cryptocurrency pulls in a different investor mets in valuation. On the last day of trading is shrouded in mystery. Satoshi Nakamoto cryptocurrencies. class with an already existing stake in digital in March, Ether was trading at under $400 BLOCKCHAIN (or a team under that pseudonymous name) Creating blocks is not an easy process. currency networks. after having lost 47 percent of its value since produced the original cryptocurrency, It requires that a “miner” solve a complex INITIAL COIN OFFERING “It’s realigning where the benefits go,” the start of 2018. DECENTRALIZED, Bitcoin, in January 2009. Nakamoto shep- computational problem (also known as argues Liew. “Benefit usually accrues to the Berkshire Hathaway Chairman Warren DIGITAL PUBLIC herded it for more than a year, then handed “proof of work”). But successful completion UNREGULATED shareholders of the company. With an ICO, Buffett told CNBC in January: “I can say LEDGER THAT RECORDS over the controls to others and vanished. of the process allows a miner to claim newly METHOD OF RAISING value can accrue to the network. That is almost with certainty that cryptocurrencies Carey’s Alessandro Rebucci, an associate minted cryptocurrency offered as a reward really exciting. It’s shifting how people think CRYPTOCURRENCY FUNDS, THROUGH will come to a bad end.” professor of finance and real estate, likens for creating a block. about raising capital and who benefits. Who There is a growing consensus that the TRANSACTIONS IN Nakamoto’s innovation to a “white paper” Other cryptocurrencies have followed in THE SALE OF A NEW are the real stakeholders? Is it just the equity foundational structure of cryptocurrency CHRONOLOGICAL on the technology. Bitcoin’s wake. Green says establishing them CRYPTOCURRENCY shareholders, or is it the network?” ORDER TO INVESTORS

10 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 11 CRYPTOCURRENCY NODES

NETWORK OF THE SEEKING EQUILIBRIUM “THERE IS A LOT OF you are just buying the same thing.” come up with an idea and crank away at it COMPUTERS THAT scrutiny from regulators. Some governments, A challenge to business as usual is embed- Cryptocurrency also lacks some of the and have it up and running with real people. ARE RUNNING A such as China’s, have made tentative moves ded into the sinews of cryptocurrency. It SKETCHY STUFF safety nets – typically provided by govern- Very few actual advanced research projects CRYPTOCURRENCY’S to regulate cryptocurrency. In March, the intentionally stands apart from traditional ment regulations and protections – that ever do that in the rest of the world.” Trump administration announced a ban on GOING ON. SO IT’S SOFTWARE currency. Its structure aims to reward the would guard against a systemic failure such Liew is teaching a blockchain course at Venezuelan cryptocurrencies. work of creating and securing value in the VALID TO ASK IF as the bursting of the cryptocurrency valua- Carey this fall. “Advances in blockchain But aside from emergency actions for system. And in a financial industry riddled tion bubble. technology are rapid,” he observes. “MBAs fraud, most watchdogs are taking a wait-and- with hacks and identity theft from central- DEPLOYING ALL THESE Additionally, ICOs have offered investors may have to come back and get retooled for see approach. “Regulators are not leading the ized databases, the distributed network of the NEW CURRENCIES none of the protections found in IPOs, and the new economy. There are skills I’m teach- process,” says Rebucci. “They are just trying blockchain is extraordinarily difficult to hack it is an environment in which scams are rife. ing now that I didn’t teach even two or three not to make mistakes.” in any meaningful way. MAKES ANY SENSE.” In December, a newly-formed “Cyber Unit” years ago.” In part, observes Fusari, that’s because the Carey economists Nicola Fusari and Ales- MATT GREEN, in the U.S. Securities and Exchange Commis- The speed of innovation also may acceler- cryptocurrency movement is not yet a big sandro Rebucci agree on the technology’s ASSISTANT PROFESSOR sion took what it described as “emergency ate solutions to some vexing problems posed enough headache: “Right now, people don’t future potential. But they have questions OF COMPUTER SCIENCE, action” to halt an ICO called PlexCoin, which by cryptocurrencies and the blockchain. look at it, because the ecosystem is too small. about its current viability and functionality. JOHNS HOPKINS WHITING used fake experts and claims of a rate of “The sky’s the limit on the innovation side,” But as it gets bigger, they will look at it.” SCHOOL OF ENGINEERING “The whole technology and system is in its return of more than 1,330 percent to take in says Liew. Fusari adds that the still undefined “legal infancy,” says Fusari. “We’re trying to think $15 million from consumers. For instance, the race to solve complex risk” in holding cryptocurrency is perhaps about what the equilibrium will be down the “Economists know that there are market mathematical problems, which undergirds the largest unsolved element. “From a taxa- Fusari says that individual digital currencies road. Is it sustainable?” failures and government failures,” observes the “proof of work” model, requires an inten- tion perspective,” says Fusari, “it’s not 100 also are not differentiating themselves from The questions burrow down to the very Rebucci. “As economists, we want the best of sive use of energy and computing resources percent clear how you declare, or what you competitors in a meaningful way. “You believe foundations of blockchain technology. “Bit- both worlds in dealing with them – market to be profitable. Proposals to adopt a “proof declare. Is it a currency for those purposes?” you are buying many different kinds of cryp- coin and any other cryptocurrency is a set of solutions and government solutions. It’s dif- of stake” model – which prioritizes holders Liew says governments that overregu- tocurrency,” he says. “But the correlation of “THERE WILL BE rules that somebody created – and someone ficult to see how to strike that balance when of significant amounts of a cryptocurrency late may lose the chance to shape the new these currencies is almost one to one. You have can change the rules,” says Fusari. “With my it comes to blockchain technology.” as creators of new blocks for the block chain WINNERS AND landscape. “If regulators clamp down in their the appearance of diversifying investment, but skeptical eye, I also wonder, because this is Exposing cryptocurrencies to wider – holds the promise of drastically reducing LOSERS. BUT A home markets,” he observes, “all this stuff is the first time they wrote rules for it, what are market forces is becoming key to testing wasteful consumption. just going to move to other countries.” the chances that these are the optimal rules? their worth and stabilizing them. The One feature of Nakamoto’s design for Bit- NEW BUSINESS Despite the divide over how cryptocurren- Maybe some of these rules are too binding. Chicago Board Options Exchange opened coin was its utter transparency. Everyone with cies are functioning in today’s markets, there Maybe we need to relax them.” a futures exchange for Bitcoin in December access to the blockchain knows the details of MODEL HAS COME is broad agreement that they will eventually Rebucci says that efficiency, as well as 2017, and there is a significant consensus every transaction, which doesn’t square with ABOUT, AND IT’S take their place in the future of the global innovation, will govern the adoption of this that this is an important step in the evolution most consumers’ expectations of being able to economy. new technology to replace existing models. of cryptocurrencies. control knowledge of their finances. IMPORTANT.” “I don’t think we can put the genie back “The blockchain was a great way to illustrate “Investors can take a contrarian view that it’s Green’s work on Zcash aims to improve ALESSANDRO REBUCCI, in the bottle,” says Liew. “You have to learn the potential that we have to replace govern- a bubble and try to take it down,” says Rebucci on that aspect of the technology. “You don’t ASSOCIATE PROFESSOR about it, embrace it, and integrate it into ment with something administered by the of the exchange. “This is a stabilizing force.” want the rest of the world to know how OF FINANCE AND REAL ESTATE, your business or organizational processes. community,” he observes. “But, economically, Fusari adds that the futures exchange is much money you have,” he says, “or who CAREY BUSINESS SCHOOL If you don’t do it, but your competitor does, the blockchain is not necessarily the most also a bridge for investors. “When you buy you’re spending it with, or what you’re you will subsequently fall by the wayside.” efficient solution.” a Bitcoin future, there’s no exchange of spending it on.” Green thinks keeping an eye on the big Efficiency can be measured in something Bitcoin,” he observes. “Investors are saying, ‘I Green sees his work on building more picture is key. “What does matter is that this as simple as buying a cup of coffee. A grow- don’t want the complication of Bitcoin; I just capacity for privacy in cryptocurrency as tech has applications,” he says. “We don’t ing number of businesses do accept digital want to buy the value of Bitcoin.’” part of a larger debate: “If you start with the know what they are yet. But we have to pay MINING PROOF OF WORK currencies, but they lack the simplicity and most privacy as a technology, it’s easy to relax attention.” speed of paper currency or a debit card. REBOTTLING THE GENIE that if you want to. But you can’t go the other As with any emerging force in finance, PROCESS BY SOLVING OF A COMPLEX And precisely how many Bitcoins does it Cryptocurrencies and the blockchain are way very easily. Then there’s no privacy, and observes Rebucci, “you need to let the take to buy that coffee? The extraordinary WHICH DIGITAL moving into markets and other areas of busi- you are at risk.” COMPUTATIONAL process play out. There will be winners and volatility of cryptocurrencies also has caught TRANSACTIONS ARE ness and finance at a dizzying speed. Some inherent tensions in the burgeon- PROBLEM, A losers. There will be casualties. There are the eye of both economists. Green wrote his first paper laying out the ing cryptocurrency movement – especially already casualties. But a new business model VERIFIED AND THEN REQUIREMENT OF “The Bitcoin bubble is like nothing since structure of Zcash in 2014. “By 2016,” he its relationship with government – cannot has come about, and it’s important. It’s mak- the 14th or 15th century,” says Rebucci. “It is ADDED TO says, “it was a real currency, and it launched. be solved by technology and innovation, THE BLOCK-CREATING ing the world a more exciting, and better, and the largest in history ever.” THE BLOCKCHAIN That’s the neat thing about this. You can and digital currencies are drawing increased MINING PROCESS more competitive place.”

12 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 13 BY THE NUMBERS

FINDING VALUE TOP 15 ‘MEANINGFUL BRANDS’ The 2017 Meaningful Brand Study, BLACK FRIDAY $$$ conducted by the Havas Group 1 GOOGLE In November 2015, REI shut down on In fall 2016, Patagonia announced and covering 1,500 global brands 2 YPALPA Black Friday – the day after Thanksgiving it was donating IN VALUES and more than 300,000 interviews 3 WHATSAPP and the company’s busiest day of the While socially conscious millennials are driving in 33 international markets, found: By Sue De Pasquale 4 YOUTUBE year. Through its #OptOutside initiative, the trend, they aren’t alone. Baby Boomers, REI closed business distribution centers % Tom’s Shoes has given more than 5 SAMSUNG Meaningful brands (defined as those that many of whom spent their younger years advo- and retail locations and headquarters, 75 million pairs of new shoes to 6 MERCEDES-BENZ promote 12 different areas of personal 100 cating for equality, sustainability, and social and urged all 12,000 employees to take of its global Black Friday sales to children in need through its One and collective well-being, including social, justice, find themselves in (or near) retirement, 7 NIVEA the day off and spend it outside. “We’re charity – specifically to grassroots emotional, and environmental) have out- for One program. Microsoft has with some degree of disposable income. “Their 8 MICROSOFT closing our doors, paying our employees environmental groups. performed the rest of the stock market by pledged $50 million to “AI for search for purpose is taking up more of their 9 IKEA to get out there, and inviting America Earth”– a commitment to leverage time,” notes Long-Tolbert. “They are raising the 10 LEGO to OptOutside with us because we artificial intelligence technology bar for concern about the world they thought 11 TECOLGA % love great gear, but we are even more they had changed.” to combat climate change. 12 WIKIPEDIA passionate about the experiences it $ Timberland has promised to Additionally, the rise of social media has made 206 unlocks,” noted Jerry Stritzke, president million 13 AUDI between 2006 and 2016. and chief executive officer of REI. 10 plant 10 million trees by 2020. it easier to find and communicate with like- 14 TTMARRIO Amount brought in on Black Friday 2016 — minded individuals and advance grassroots 15 BMW Increasingly, companies large and small, across consumer movements. “Our social identity of us expect brands the United States and around the world, appear heavily influences what we buy and what we % more than expected. to be making a values-driven approach key to SOURCE: 2017 Meaningful Brands Study by the to make more of a x consume,” says Long-Tolbert. “And it allows us Havas Group, Paris-based advertising and public their business mission – and not just because contribution to our 5 to put pressure on the collective to do better.” relations company 75 million it’s the right thing to do. It’s because consum- well-being and quality of life, yet only 1.4 Number of people who posted the SOURCE: Patagonia In the months and years ahead, look for more ers are demanding it, says Carey Assistant #OptOutside hashtag on their social pages. Professor Sylvia Long-Tolbert, a marketing businesses to follow the lead of values-driven believe brands expert who has been watching this trend gain pioneers such as REI and Patagonia (see % are doing so. accompanying statistics), says Long-Tolbert. traction over the past decade. 40 According to a study published “Companies that go off the balance sheet to live “Doing good and doing well is now the new % in Harvard Business Review: up to altruistic, purpose-driven goals are going People wouldn’t care if imperative in business,” says Long-Tolbert. to be the winners.” 7,000 of consumers From the consumer’s perspective, “capital- Increase in annual social media mentions of the brands they % surveyed who said ism has gone unhinged … and individuals are % for REI in 2015, compared with 2014. use every day they had a brand trying to reclaim their voice in terms of what’s disappeared. 64 74 relationship cited shared values as the important to them,” she says. “Collectively, primary reason. consumers can shift the tide around the types Fewer than % of decisions that businesses are making. The said the brands they SOURCE: CEB Study in Harvard Business Review, top-down approach, saying, ‘It’s good for use notably improve 23 by Karen Freeman, Patrick Spenner, and Anna Bird Increase in REI’s digital sales shareholders,’ is no longer the best answer. I % their quality of life in 2015, over 2014. don’t know if it ever served social and environ- 27 and well-being. mental well-being, but it certainly has broken down at this point.” The generation that demands most from brands is millennials, million of whom demand 1 % Record number who joined the useful, interesting, members-only retail co-op in 2015. 77 or meaningful content, along with services that go SOURCE: REI Co-Op Newsroom beyond a brand’s core mission.

SOURCE: 2017 Meaningful Brands Study

14 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL ILLUSTRATION: SCOTT ROBERTS JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 15 FEATURE | ALUMNI IN SPORTS

KEN BABBY MBA ’08, Owner, Akron RubberDucks and Jacksonville Jumbo Shrimp

TOM WYATT MBA ’10, Senior Director of Corporate Partnerships, Detroit Lions

JOSH GOODSTADT MS, Marketing ’05, Executive VP of Licensing, Think450, National Basketball Players Association

MEET THREE ALUMNI WHO ARE KEY PLAYERS IN THE HIGH- STAKES AND INCREASINGLY PROFITABLE WORLD OF PROFESSIONAL ATHLETICS.

In Super Bowl LII, the perennially never- quite-good-enough Philadelphia Eagles vanquished a dynastic New England Patriots team led by arguably the greatest coach and the greatest quarterback in National Football League history.

You probably watched it all unfold live on TV. According to Nielsen ratings, more than 103 million viewers worldwide tuned in. With that many eyes affixed to screens, it’s not surprising that a single 30-second commercial slot cost an average of $5 million. NBC alone shelled out close to $1 billion this past year for the rights to broadcast the Super Bowl and and other NFL games. >

BY GREG RIENZI

16 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 17 ALUMNI IN SPORTS

Professional sports mean big business. The didn’t. I imagined if I was ever in a position North American sports industry brought in to call the shots, what I might do differently.” more than $69 billion in ticket and merchan- He took notes and talked to fans about dise sales, media rights, and sponsorship their impressions of the game-day experi- fees in 2016, according to Pricewater- ence. Before long, he developed a plan to houseCoopers, and that number is expected buy a team. When one became available, to reach $78.5 billion in 2021. Beyond the live he pounced, and in 2012 Babby acquired action, sports-branded merchandise rules the Akron Aeros, the Double-A affiliate of both the fashion and gaming worlds. The jer- the Cleveland Indians. A year later, Babby seys of National Basketball Association stars renamed the team the Akron RubberDucks, such as LeBron James and Stephen Curry in a nod to Akron’s claim to fame as the sell worldwide. The console video game NBA “rubber capital of the world.” 2K18 has to date sold more than 8 million As a team owner, Babby says, he has leaned copies; last year it was the second-biggest on the knowledge he gained at Carey, noting, seller among all categories of video games. With such large and growing coffers, the “It’s at Carey I learned that you need to hire sports industry attracts not just fans but busi- the best people and put together a phenom- ness-savvy people who want to work outside enal leadership team.” the lines. Meet three such individuals, Carey In 2015, Babby acquired a second ball club, alums who are wielding their considerable the Jacksonville Suns, the Miami Marlins’ business acumen in the worlds of profes- Double-A affiliate, now called the Jackson- sional basketball, baseball, and football. ville Jumbo Shrimp. He went on to invest $1.8 million in renovating the team’s home, the Baseball Grounds of Jacksonville. A TEAM Today his company, the Fast Forward Sports Group, operates both his teams. Babby OF HIS OWN says he learned early on to cater to “Mom,” KEN BABBY who often holds the role of family decision MBA ’08 maker. He reduced ticket prices, revamped the Owner, Akron RubberDucks and concession stands to offer healthier foods, and Jacksonville Jumbo Shrimp renovated bathrooms. “I thought if we didn’t get the details right, Mom was not as likely to degree in computer science and economics. In just under two years, the UFC went from “I FOUND MYSELF want to come back,” he says. Growing up, Ken Babby had an He tried out for Wheaton’s baseball team but GOOD relying on sponsors such as T-shirt companies The second year of his ownership, the enviable baseball education. He FIXATED ON THE FAN didn’t make the cut. His sophomore year, and obscure energy drinks to inking deals Akron RubberDucks saw a 27 percent TIMING learned the nuances of the hit EXPERIENCE. THE FOOD. he landed an internship in The Washington with Anheuser Busch, Kraft, Microsoft, Sega, increase in attendance, and in 2016 the team TOM WYATT and run play from Hall of Famer Post’s technology department. Sony, NBC/Universal, and Harley Davidson. THE PROMOTION. WHO won the Eastern League championship. MBA ’10 Frank Robinson and watched close-up as Cal Babby gradually worked his way up to Wyatt also helped convince Dodge/Ram to The Jacksonville club was honored in 2017 Senior Director of Corporate Ripken and teammates took batting practice DID THESE THINGS become the chief revenue officer and general become the first official vehicle of the UFC as the Southern League’s Organization of the Partnerships, Detroit Lions at Oriole Park at Camden Yards. For spring manager of the newspaper’s digital compo- and the presenting sponsor of UFC Facebook WELL, AND WHO DIDN’T. Year, and team general manager Harold Craw break, Babby worked as a bat boy at the O’s nent while taking night classes to complete Fights – long before live digital sports stream- I IMAGINED IF I WAS was named the league’s Executive of the Year In professional terms, Tom spring training facility in Sarasota, Florida. his MBA at the Carey Business School. All ing was in vogue. As the lead sales represen- (the first time an African-American won the Wyatt’s sense of timing is acute. Such was life as the son of Lon Babby, EVER IN A POSITION the while, he maintained his passion for tative for the UFC, Wyatt created a book of award in minor league baseball). Wyatt joined the Ultimate the one-time general counsel for the Wash- baseball. “My whole life I wanted to work in $22.5 million in sponsorship business. TO CALL THE SHOTS, Babby says he’s living a dream. On most Fighting Championship in 2009, ington Redskins and Baltimore Orioles, and baseball,” he says, “and I would do whatever I “[These deals were] not just about achiev- WHAT I MIGHT DO days, he attends games so he can sit with the just as the mixed martial arts organization later a long-time NBA player agent whose could to get there.” ing legitimacy as a sport but positioning fans. But he still sweats every detail. Is the began its upsurge. client list included Tim Duncan, Grant Hill, —KEN BABBY DIFFERENTLY.” By his early 30s, he was spending most of While poised for mainstream success, the UFC as a marketing vehicle to reach the most and Ray Allen. food hot enough? Should that scoop of ice his vacation time attending minor league UFC was still viewed as a fringe sport in attractive, hardest-to-connect-with demo- “I was fortunate to grow up around pro- cream be bigger? baseball games throughout the East Coast the eyes of sponsors who wanted to target graphic – millennial males,” says Wyatt, today fessional sports and get exposure to a lot of “I can be obsessive,” he says. “I sit there in the and Midwest. “I found myself fixated on the the coveted 18- to-34-year-old male demo- Senior Director of Corporate Partnerships talented athletes,” says Babby. late innings worrying less about the score and fan experience,” he says. “The food. The pro- graphic. Wyatt, as UFC sponsorship sales for the NFL’s Detroit Lions. “We legitimized Babby attended Wheaton College in Mas- more about how we can serve the fans better.” motion. Who did these things well, and who account executive, would help change that. the UFC in the eyes of Fortune 500 marketers sachusetts, where he graduated with a dual

18 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL PHOTO: AGNES LOPEZ, POSE WELL IMAGES PHOTO: JOSH MANDUJANO JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 19 ALUMNI IN SPORTS

“I AM TRULY EXCITED His success with the UFC didn’t go unno- A GAME OF TO BE A PART OF WHAT ticed. In 2011, Feld Entertainment lured him away to serve as the company’s director of PROMOTIONS WE ARE BUILDING HERE national sales. In that role, Wyatt worked with JOSH GOODSTADT AT THE DETROIT LIONS. Fortune 500 companies across the company’s MS, Marketing ’05 WHEN THE POWDER portfolio of live events. Wyatt later re-joined Executive Vice President of Licensing, the NBA, this time as director of corporate Think450, marketing arm of the KEG OF CONSUMER partnerships for the Houston Rockets. In 2017, National Basketball Players Association ENGAGEMENT AND TEAM after he had spent three years in Houston, the Detroit Lions hired Wyatt as senior director of In 1997, as a fresh-out-of-college SUCCESS EXPLODES, corporate partnerships. intern for Major League Soccer, IT’S GOING TO BE A With the Lions, Wyatt says, he has not Josh Goodstadt found himself only come full circle in his sporting industry SIGHT TO SEE.” —TOM WYATT braving wind gusts on the roof career, returning to the NFL, but he’s also of RFK Stadium just before D.C. United’s able to synthesize all the lessons learned home opener. Someone had to put up the about sports promotion. The sports industry team and league flags. has evolved “light years” in just the past two “I didn’t have a huge fear of heights, but it years, he says. Today, team and sponsor work and paved the way for the UFC to achieve its was not ideal [being up there.] My philoso- more closely as partners, finding “synergistic groundbreaking broadcast rights deal with phy back then was to just jump in and do touch points” that build the brand of team, Fox and plant the company’s flag as a main- whatever needed to get done,” says Good- company, and even home city. stream global sports property, built upon the stadt, whose career has since taken him to “This is why I am truly excited to be a part passion of the entire fan base.” well-known entertainment and sports giants and marketing subsidiary retail of consumer products worldwide, of what we are building here at the Detroit “THE BUSINESS Wyatt – who had worked in corporate sales such as HBO, the NFL, and more recently the of the NFL Players Associa- such as launching a True Blood cosmetic and Lions,” Wyatt says. “When the powder keg PRINCIPLES I LEARNED with the Chicago Bears of the NFL, just after NBA. Currently, he is executive vice president tion (NFLPA). fragrance line and slot machines bearing the of consumer engagement and team success graduating from the Indiana University with for licensing at Think450, which he refers to Goodstadt said he leapt AT CAREY WOULD theme of another HBO hit, Sex in the City. explodes, it’s going to be a sight to see.” a public affairs degree, and then as a corpo- as the “innovation engine” of the National at the opportunity to get HELP PROPEL ME Then along came the behemoth of Game rate account executive with the NBA’s Min- Basketball Players Association. (The NBPA into product licensing and of Thrones. To help promote the show, nesota Timberwolves – enrolled in the Carey controls the group licensing and marketing work with companies such THROUGHOUT THE Goodstadt and his team got really ambitious, Business Fellows program to earn an MBA rights for all 450 active NBA players, hence as Topps, Upper Deck, REST OF MY CAREER.” creating a live music arena tour – a spectacle because he was intrigued by the nontradi- Josh Goodstadt the Think450 name.) and McFarlane Toys. His —JOSH GOODSTADT with orchestra, vocalists, and giant screens tional, project-based educational experience. Major League Soccer was only in its second day-to-day responsibilities included the that sold out venues such as Madison Square Through the Carey program, Wyatt year of existence, so Goodstadt essentially negotiation of commercial licensing terms Garden. During Goodstadt’s tenure, HBO also worked on a project for the BM&FBOVESPA, joined a startup – an ideal way to wet his feet and the review of trading cards for errors launched its first-ever mobile game, Game of the Brazilian stock exchange based in Sao in various elements of the professional sports and typos, and ensuring that action figures Thrones: Conquest, and worked with Brewery Paolo. His cohort was tasked to help design industry, including marketing, ticket sales, and and other collectibles offered good represen- From playing cards and action figures, Ommegang in Cooperstown, New York, on a strategies for human capital management game-day operations. “I loved sports growing tations of the players. Goodstadt graduated to video game line of Game of Thrones-inspired beers. and stakeholder on-boarding for the stock up. I would call myself a sports fanatic,” says Before long, Goodstadt realized he needed licensing, which included the giant John Today, Goodstadt finds himself back in exchange, now known as B3. Working Goodstadt, who played on his high school’s more grounding in business, so he attended Madden game franchise. As assistant vice the sports realm. When the NBPA recently from both Baltimore and Sao Paulo, Wyatt varsity soccer team. He earned his undergrad- the Carey School to earn a master’s degree in president for licensing at NFL Players Inc., took back its group licensing rights, a former discussed best practices with officials from uate degree in kinesiology at the University of marketing, working full time during the day Goodstadt managed the business relationship colleague recommended Goodstadt to lead major multinational companies. Maryland at College Park. and taking classes at night. of more than 25 licensees for the video game, the new endeavor. “NBA players are really “At the time, this was extremely helpful to Goodstadt turned the MLS internship into “Carey refined the way I thought about wireless, and fantasy categories. unique,” he says, “whether it’s rookies like my career: understanding the cultural and a full-time job. Before long, he went from marketing and communication,” says Good- In 2007, Goodstadt’s career in sports took Jayson Tatum or more established players like interpersonal norms outside the U.S. and how ticket selling to a marketing account posi- stadt. “In my days at D.C. United and starting a detour, when he became director of global Kevin Durant who have transcended the league to negotiate effectively in Brazil,” says Wyatt, tion in the area of in-stadium promotions out with the NFLPA, I went mostly by gut. licensing and retail for HBO. A film and TV and have a big social presence. They are young, who joined the UFC during his time at Carey. with clients such as Honda, Budweiser, and The business principles I learned at Carey buff, Goodstadt joined the cable company cool, fashionable, and intelligent. I thought “The UFC at that time was really concentrat- Irish Spring. After five years, he left to take a would help propel me throughout the rest at a time of transition. Within a year, HBO if I was going to leave HBO, I would want a ing on sponsors and advertisers in global position in the trading card and collectibles of my career.” had a new hit show in the vampire camp fest, really unique opportunity. And I found it.” markets, with the priority being Brazil.” segment of NFL Players Inc., the licensing True Blood. In his role, Goodstadt oversaw all operations pertaining to licensing and

20 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL PHOTO: JOSH MANDUJANO ABOVE: GOLDEN STATE WARRIORS VS. SAN ANTONIO SPURS; MARK SOBHANI, GETTY IMAGES JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 21 CHECK OUT THE OTHER NEW LIBRARY In February, the Carey Business School BUSINESS completed construction of a new library NEWS FROM INSIDE at the school’s Harbor East campus in THE CAREY BUSINESS SCHOOL Executive Education presents, on average, youth. The group focused on the target percent different. You Williams says that 40 short courses and executive certificate demographic. What sort of marketing would need to keep your while the courses Baltimore. The expanded library adds programs per academic year, in sessions they respond to? How do we reach them? credentials current, are rooted in 50 percent more study space for students and four new group study rooms. at the school’s Harbor East campus. This One group suggested interactive, educational and it’s short courses research and spring, the program rolled out five new exhibits that would move around the city in like this that enable empirical evi- The new library also provides access to EXEC ED IS offerings: Women in Leadership, Risk Man- a “pop-up” fashion. you to do that.” dence, they are several Bloomberg Financial Services terminals. Specialized financial software ALL THE BUZZ agement, Budget and Strategic Performance Pamela Williams, While the program more experiential Measurement, Project Management, and than academic. To and analytic tools, including SPSS, Oracle’s assistant dean for targets the business Crystal Ball, and ArcGIS statistical mapping By Greg Rienzi Cross-Cultural Management. drive home points, the executive education community in the software, are available to students as well. instructors use case stud- In her class Design Thinking for Innova- Courses such as Design Thinking, Kim says, at Carey, says that Baltimore-Washington ies and group exercises rather Carey’s Harbor East Library is a branch of tive Problem Solving, Sharon Kim starts offer a new approach to problem solving that’s courses such as these metropolitan area, the majority than death by PowerPoint. the Sheridan Libraries at Johns Hopkins with an icebreaker. She’ll hand out common inherently more creative and empathetic. offer hands-on, practi- of participants to date have been University, which provides library services household items, such as a cardboard box, a Whether designing a physical space such as cal, research-based Johns Hopkins staff and faculty Most courses are taught by a Carey at Carey’s Baltimore and Washington, newspaper, and a pencil, and then ask the 20 an office or a waiting room, or implement- PAMELA WILLIAMS, instruction for how to who seek personal development. faculty member and supplemented D.C., campuses. Students and faculty can ASSISTANT DEAN FOR to 30 participants to brainstorm uses for the ing a new protocol or policy, design thinking better perform a busi- A faculty member or research with guest speakers, including receive reference consultation, instruction, EXECUTIVE EDUCATION and book delivery services from any Johns objects. Some might envision a doghouse, or has you shape a solution with the end user in ness task or navigate a scientist moving into a director or industry experts. To make the Hopkins campus library catalog. a shoe bin, or maybe a child’s game. mind. For that new office space, some staff problem. Since the participants are working lab management position may not content relevant to most of the might ask for windows, others for a tall ceil- professionals whose time away from work class, instructors will send out There’s no prize for the best idea. Kim just have a financial or budgeting back- may be limited, the courses don’t run more surveys or otherwise prescreen the wants people to think, well, outside the box. ground, so a course such as Finance CAREY, NER ISRAEL than three or four consecutive days, with all roster to better understand everyone’s back- What if the group comes up with 20 differ- COURSES SUCH AS DESIGN for the Non-Financial Manager can offer tips AGREE TO the subject matter condensed. ground and level the playing field. ent concepts? All the better, she says. THINKING OFFER A NEW on financial statement analysis, investment COLLABORATE Glen Steinbach, senior associate dean for opportunities, and capital budgeting. “This is not a class where you get to learn “The more variety in responses, the more The Carey Business School reached an APPROACH TO PROBLEM finance and administration at Carey, says the things about [the participants] over the term creative the group, I’ve found,” says Kim, a One of the program’s more popular courses agreement with the Ner Israel Rabbinical SOLVING THAT’S INHER- school wanted to offer something unique in – you have one or two days to get to know Carey Business School assistant professor to date has been Strategic Negotiation, College, a rabbinical school in Pikesville, this growing field of professional education. your audience and learn what they bring to who focuses on management and organiza- ENTLY MORE CREATIVE AND taught by Brian Gunia, an associate profes- Maryland, to offer its students enrollment in the table,” she says. tion. “But one of the goals of this exercise is EMPATHETIC. WHETHER “We asked ourselves: How could we take the sor at Carey whose research has appeared in Carey’s degree programs and non-degree certificate programs. The Carey Business that there’s not one answer. It gets them into assets we have at this school – a great faculty, academic journals and popular media outlets The program has had nearly 1,000 par- DESIGNING A PHYSICAL School programs are available to select a mode to think creatively when it comes to a great location, and a track record of edu- such as The Economist, The Wall Street Jour- ticipants to date, with a quarter of those students who have completed all or most of SPACE OR IMPLEMENTING A cating people – and turn that into something nal, and Forbes. Steinbach points out that we registered for two or more courses. With problem solving.” their studies at Ner Israel. NEW PROTOCOL OR POLICY, widely appealing to mid-level managers and negotiate every day with co-workers, clients, increasing demand, there are plans to expand Design Thinking for Innovative Problem those moving up to executive positions?” and others; what we might lack, however, to the school’s Washington, D.C., campus in Johns Hopkins University has a long history Solving is just one of the dozens of courses DESIGN THINKING HAS YOU Steinbach says. are the strategy and psychology expertise Dupont Circle, and to offer online courses. of collaboration with Ner Israel dating back currently offered by the Carey School’s SHAPE A SOLUTION WITH to the 1950s, including a prior agreement to negotiate most effectively. Attendees in Executive Education program, aimed at The program helps address the need for “We are growing solidly. The word is out with the School of Professional Studies in THE END USER IN MIND. this course participate in interactive and those in middle management positions but “stackable education,” Steinbach says, refer- that this is a quality program,” Williams says. Business and Education, a precursor to the increasingly complex negotiation exercises to open to anyone looking to sharpen his or her ring to the concept of adding on to an MBA “There’s a lot of energy and buzz in these Carey Business School. practice their skills. They learn to cope with business acumen. ing; others want art or objects to hang on the or other graduate-level degree that might be classes. It’s not like you’re going to school. It’s “We are delighted to forge a new walls. “You piece this all together. What are 10 or more years old. Many employers, when win-lose situations, and to find those win- active. It’s innovative and transformational. The program, launched in 2015, offers both relationship with Ner Israel to support the they really asking for?” Kim says. “Maybe we looking to promote or hire, will want to see win opportunities. The best part, what you learn you can apply customized seminars for groups and “short business education of its students,” said can’t give everyone what they want, but what that an individual has kept his or her educa- “Sometimes people will lay a stake in the the very next day.” Kevin Frick, professor and vice dean for courses” for individuals in content areas such do these elements all have in common? Then tion current, he says. ground prematurely: I’m going to ask for education at Carey. “The mission of the as innovation and human-centered design, we can define the problem to overcome and this,” Steinbach says. “What about sitting To learn more about the program and to register Carey Business School is to train business health care, leadership, business communica- “Quite frankly, that MBA from 20 years start to think of a design that will work.” back and listening first? You’re looking for for a course, go to carey.jhu.edu/exec-ed. leaders who are exemplary citizens, which tion, and management competencies. In 2017, ago is somewhat out-of-date now. Things complements the educational mission of outcomes. What are the outcomes? Every- This article originally appeared on the Johns the program started to offer executive certifi- For example, in one class she presented a are changing so fast,” he says. “How we do Ner Israel.” one can learn something in a course like Hopkins University website The Hub at Work. cates in business communication and health design challenge for reimagining Baltimore’s marketing today versus 20 years ago is 100 Ner Israel was established in 1933. It trains “Rethink your drink” campaign, which that, whether you have to negotiate with a care leadership and management. students in religious scholarship and Jewish was aimed at reducing the consumption of boss, a vendor, or your spouse. These skills living, including critical thinking, finance, sugar-sweetened beverages among the city’s come in handy.” commercial law, and business ethics. – Tim Parsons

22 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 23 OTHER BUSINESS

MAKING A STRONG Competition in Wash- MIKULSKI SHARES CASE FOR CAREY ington, D.C. Their challenge was INSIGHTS IN to examine the public’s By Luke Lavoie perception of business FIRESIDE CHAT Two teams of Carey Business School students and recommend ways took first-place honors in recent national to reinforce the message Barbara Mikulski, who represented Mary- case competitions, earning $5,000 in one and that business plays a land in the U.S. Senate for 30 years, spoke at $12,000 in the other. crucial role in society. the Carey Business School last November, In the fifth annual Pfizer Case Competition, “Our presentation addressing a host of topics ranging from held last November at the Carey campus, a team strategy was focused on women’s leadership to the economy in a of three Global MBA students and two students a ‘different’ solution as lively one-on-one discussion with Carey from JHU’s Bloomberg School of Public Health VICE DEAN KEVIN FRICK (LEFT) WITH THE CHAMBER OF COMMERCE COMPETITION WINNERS. opposed to just a ‘better’ Dean Bernard T. Ferrari. defeated teams from Harvard, Columbia, of the Bloomberg School – employed a design- one. Our solution incorporated elements of a Mikulski, now a Homewood Professor of University of Chicago, University of South- thinking approach that focused on creating a proposed summit, blockchain accelerator, and Public Policy at Johns Hopkins University, ern California, Berkeley, Duke, Dartmouth, catch-all for pitfalls within possible solutions. tailored consulting opportunities. By creat- sat for a fireside-style Q&A at Carey’s Harbor Northwestern, and New York University. They won the $5,000 first prize, while the ing a strong slideshow and preparing well in East campus. In her trademark matter-of- The challenge was to create a strategy for University of Southern California took second advance, we were able to pull through,” team fact and animated style, Mikulski spoke on increasing compliance with a pneumonia vac- place and $3,000, and the University of Califor- captain Douglas says. a wide range of issues, weaving in anecdotes cine in either children or seniors. The teams were nia at Berkeley finished third and won $2,000. More than 100 teams from 42 business and insights from her political career. told to lean on behavioral economic theory to In December, a group of four Carey MBA schools entered the competition, but only LIVELY DISCUSSION: FORMER SENATOR BARBARA MIKULSKI WITH CAREY DEAN BERNARD T. FERRARI. create and defend a unique strategy for the case. students – Ryan Douglas, Chirag Potdar, three in addition to Carey reached the final: When asked to critique the strengths and Mikulski said the biggest risk to the U.S. The Johns Hopkins team – Priya Arunacha- Marcus Tan, and Nariman Ziaee – earned the business schools of George Washington opportunities of business that future leaders “FOR BUSINESS TO REALLY economy is also a national security issue: lam, Stephen DeMars, and Misha Isran of first place and $12,000 at the U.S. Chamber University (second place) and runners-up should examine, Mikulski said business was SUCCEED, IT HAS TO LOOK Carey, and David Buxton and Dexter Waters of Commerce Foundation’s 2017 MBA Case Stanford and Berkeley. good at creating and adapting to techno- international trade. Noting the importance logical change but slow on the uptake for AT THE NEW DEMOCRACY— of trade, Mikulski said she is not in favor of social progress. THAT MORE WOMEN ARE multilateral trade agreements but instead is “a bilateral trade agreement gal.” GREAT OPTICS White, a former Marine, became interested White, on track to graduate this year, also “For business to really succeed, it has to COMING TO WORK, THE in vision while running humanitarian assis- cites his classroom experience as critical to look at the new democracy – that more FACT THAT WE HAVE A She said political efforts to renegotiate trade FOR KEVIN WHITE tance projects for the military. After retiring helping him develop his business: “Every pro- agreements are “putting into tatters interna- women are coming to work, the fact VERY DIVERSE SOCIETY from the Marines, he set out to develop a fessor I’ve had has let me use my own com- that we have a very diverse society and tional security agreements and international By Tim Parsons business solution that would address the pany for projects. I’ve been able to develop are moving toward a majority black and AND ARE MOVING TOWARD trade agreements, and we are wrecking our Kevin White, a Flexible MBA candidate at the unmet need for corrective eyewear. my business plans with input from professors brown country.... The welcoming of A MAJORITY BLACK AND relationships with allies that have been built and fellow students while earning my degree.” Carey Business School, has done it again. “I realized there was a lot I didn’t know LGBT people – it’s a changing democracy,” over years. And I think business should raise BROWN COUNTRY.” hell about it.” Carey Business previously reported that about running a business, so I thought Being at Carey, he adds, has helped she said. “I think business has to look at it White had been announced as one of four maybe I should go to business school,” says him gain access to other areas of Johns and be a force for society. Society is open, – Luke Lavoie going to be driven by the board of directors winners in National Geographic’s “Chasing White. “In my search, I found Johns Hopkins Hopkins, including its renowned schools so should opportunity be.” and shareholders.” Genius” competition to promote world- and connected with Carey’s message of of public health and medicine. White has Later on this topic, Mikulski said the Mikulski came to Carey in the school’s changing innovations. White was awarded ‘business with humanity in mind.’” already completed clinical trials at the Dana Mikulski said one of the keys to addressing Center for Preventive Ophthalmology at the strongest push should come from within Leaders+Legends speaker series. Her visit was $25,000 to further develop his idea for USee, White explains that he was also drawn to the dearth of women in leadership roles in Johns Hopkins Wilmer Eye Institute, and he an organization – not from the govern- also part of a series of events at the business an affordable, easy-to-use diagnostic tool Carey by the idea of studying with Kevin both the public and private sectors is identi- school focusing on women’s leadership. is working on an economic impact study. ment – and that the tone for corporate and lens kit that can provide eyeglasses in Frick, Carey’s Vice Dean for Education. fying and developing talent. As she recounted culture is set at the top. parts of the world where corrective lenses Frick has conducted numerous studies on The World Health Organization estimates her rise from a community organizer to the are difficult to get. the economic impact of eye care worldwide, that 253 million people worldwide have an “Culture trumps rules, regulations, and Baltimore City Council to the U.S. Congress, In January, White and his USee concept an issue that White is trying to address unmet vision impairment and that more than so on. How does [your business] create a Mikulski touted the importance of resilience. with his invention. White says that he told half of these cases are linked to a lack of bagged an even bigger prize when he was positive culture that is welcoming, inclusive, Frick at orientation, “You probably don’t corrective eyewear. Other estimates suggest “We heard ‘no’ so often in our life, but we named one of two $1 million prize winners and that looks at talent?” she said. “That is at the first WeWork Creator Awards Global hear this very often, but you are one of the the number of people with vision problems took every ‘no’ and turned it into a ‘yes,’” Finals in New York. reasons I came to this school.” could be as high as 2.5 billion, although Mikulski said, recounting the challenges that many of them use eyewear to see better. she and others faced. 

24 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 25 OTHER BUSINESS ALUMNI NEWS n Associate Professor n Assistant Professor Jim Kyung-Soo Liew was Craig Enger (MS, Information and Telecommunica- KUDOS Stacey Lee was chosen one of the six speakers at the annual Center for tion Systems ’99) is a principal consultant and team for the roster of the International Securities and Derivatives Markets lead at CACI International, a multinational professional DON’T BE A STRANGER Recognizing Accomplishments services and information technology company based Fulbright Specialist Conference, held last October at the University of We want to hear from you, Carey alums. of Carey Business School in Arlington, Virginia. He also has released Wish, a Program, an initiative Massachusetts in Amherst. The event’s keynote Send us news of your professional of the United States speaker was Robert Merton of the Massachusetts new music album. Leadership and Faculty accomplishments so we can publish Department of State’s Institute of Technology, who received the Nobel 1970s–1980s them in Carey Business. Bureau of Educational Prize in economics in 1997. Kenneth G. Koller (Certificate in Business Manage- n Bloomberg Distinguished Professor Paul and Cultural Affairs ment ’70; Bachelor of Science, Business, ’73) is 2000s The magazine’s class notes section is Ferraro was an invited speaker at the National n A paper co-written by Assistant Professor Emilia chief executive officer and chief operating officer of and World Learning. Lilly Cheng (MS, Information and Telecommunica- a great way for the growing number Academy of Sciences’ Sackler Colloqium on Stacey Lee Advanced Ceramic Fibers in Idaho Falls, Idaho. The As a member of the Simeonova, “How Does Awareness of Financial tion Systems ’00) is a senior program director and of Carey graduates to share their company has developed a process to convert high- Economics, Environment, and Sustainable roster, Lee is eligible to be assigned to a project Incentives Affect Physician Behavior?,” won the counselor at Oakton Academy in Oakton, Virginia, professional news. We welcome your strength carbon fiber for use in extreme environments. Development, held in January in Irvine, California. that matches her expertise at a host academic best-paper award at the Conference on Health IT which offers academic enrichment, college admission information about new jobs, awards, That same month, he gave the inaugural lecture institution in any of more than 150 countries. and Analytics last November in Washington, D.C. Alfred Calabria (Master of Administrative Science advice, and standardized testing tutorials. board appointments, and other career at the Inter-American Development Bank’s Her tenure on the roster began December 1, ’74) is founder and principal of Calabria Advisors Gregory “Rocky” Goins (MBA ’00) is president achievements. Sustainability Research Seminar Series. n Assistant Professor Shubhranshu Singh Inc. He reports: “Most recently I’ve been serving on 2017, and continues until December 1, 2020. of Leading Light Development and Construc- Additionally, Ferraro has established and serves was appointed a senior editor of Production and the committee of the ACG Cup Northwest, an event Please email your update (with your After being matched with a host site abroad, a tion Consulting. He reports that the firm has been as the director of the Environmental Program Operations Management in the POM-Economics sponsored by the Association for Corporate Growth. name, year of graduation, degree Fulbright Specialist works in partnership with the awarded construction management services for new Innovations Collaborative (EPIC). According to Interface Department. This is a business-case competition that pits teams earned, current organization and institution on projects that support its priorities assisted living communities in Brentwood, Tennessee, its mission statement, the Carey-based initiative from Washington state universities against those from title, and a message of up to 100 and goals. The activities might include delivering and Simi Valley, California (combined value of $90 n A paper co-written Oregon. The event offers MBA and finance majors a “works with environmental program managers a seminar or workshop, consulting on faculty or million). Leading Light also successfully completed words, subject to editing) to carey. by Assistant Professor real-world experience not available in the classroom and their partners to develop evidence-based workforce development, developing academic or acquisition services for new assisted living sites in [email protected] for the next Zhaogang Song, “A tale and exposes them to potential hiring managers in the programs that can change human behaviors in training curriculums and materials, lecturing at the Mt. Juliet and Gallatin, Tennessee, as well as in Palm issue of Carey Business, due to be of two option markets: business world, in addition to cash awards.” ways that benefit the environment and society.” graduate or undergraduate level, and conducting Beach County, Florida. Goins also serves as a board published in fall 2018. Pricing kernels and EPIC’s goal is to “create evidence-based program needs assessments or evaluations for a program Karen Peetz (MS, Behavioral Science and Manage- member for the Tulsa, Oklahoma, chapter of the volatility risk,” won an Thank you. designs that achieve greater levels of efficiency, or institution. After the three-year period ends, ment ’81), the retired president of BNY Mellon, was American Cancer Society. He and his wife, Lynn, will honorable mention in the broad satisfaction with the programs, and specialists are encouraged to continue working elected to the board of directors of Ingersoll Rand. chair the 2018 Cattle Baron’s Ball in Tulsa, an annual competition for the 2017 improved environmental outcomes.” with the host institution. Lee said she expects that fundraiser for the American Cancer Society. Dennis J. Aigner Award Hilary Robertson-Hickling (Master of Applied her work in the program will involve issues related Behavioral Science ’85) is a senior lecturer at the n Assistant Professor for the best article in to health care, negotiation, and conflict resolution. Zhaogang Song Mona School of Business and Management at Semih Uslu received the empirical econometrics Corporation as a senior analyst working on the University of the West Indies in Jamaica. She Hakan Orbay Memorial published in the Journal of Econometrics in 2015 A PLACE TO PIVOT n Associate Professor Alessandro Rebucci recently was named to the National Library of Jamaica internal financial controls. Prize for his study was appointed a research fellow at the Centre or 2016. Song’s article appeared in the journal in Commemorative Exhibition Committee for the 70th “I came to business school to make a pivot – “Pricing and Liquidity for Economic Policy Research, based in London, January 2016. Anniversary of the Empire Windrush’s journey from a pretty significant pivot – and Carey did that in Decentralized Asset England. Jamaica to England. Markets.” The prize n Associate Professor Ravi Aron, an expert for me,” Hemingway said. in information technology strategy, health care Cavan Redmond (Master of Administrative Science is awarded annually n Assistant Professor Tinglong Dai was He credits members of Carey faculty and strategy, and health care information systems, ’87) was appointed as an independent member of by Sabanci University a co-supervisor and co-writer of the study staff with aiding him during his pivot. He the board of directors of Alameda, California-based School of Management “Service Design under Acclimation and Non- presented his research last September at the Semih Uslu BioTime, a late-stage, clinical biotechnology company says the Career Development Office helped in Istanbul, Turkey, to the homogeneous Memory Decay,” a finalist for the Sasin School of Management in Bangkok, developing and commercializing products addressing him land an internship with Exelon, which best paper in microeconomics and finance written IBM Service Science Best Student Paper Award Thailand. Members of Thailand’s royal family and degenerative diseases. He will be the chairman of the ultimately led to his full-time position. He by a young researcher. In January, Uslu presented at the annual meeting of INFORMS (the Institute government attended the presentation. Corporate Development Committee. recalls the advice he received from the CDO the study at the annual meeting of the American for Operations Research and the Management n Paul Gurny of the adjunct faculty before his interviews at Exelon. Finance Association, in Philadelphia. Sciences) last October in Houston. In January, co-authored the new book The Search for MAHDI HEMINGWAY at the international conference of the Production “I came in with a certain level of skill and Excellence in Clinical Practice: A Handbook and Operations Management Society’s Hong 1990s Mahdi Hemingway’s life experiences belie hustle, and they reminded me to tap into that on Clinical Process Improvement for Providers, Kong chapter, the study won the competition for Patricia Likakis (MS, Information Services and Tele- his youth. The New Jersey native has served in and sell my strengths – my true self. Not to from Sentia Publishing of Austin, Texas. Gurny the best student paper. The student, Yifu Li, is communications, ’95) is an author and blogger who the Marine Corps, volunteered on one of Pres- pretend to be someone I’m not,” he said. wrote the book with Roger Orsini, who also a visiting scholar at the Carey Business School, has published her second book, Streamline Your Life: ident Barack Obama’s presidential campaigns, has taught as a member of the adjunct faculty He recalls similarly reassuring advice from conducting research on service design under 5 Fundamentals to Simplify Your Life, Reduce Stress and is a Carey alumnus (MBA ’07). and worked on Wall Street as a stockbroker. Associate Professor Ricard Gil and Professor Dai’s supervision until this August. and Have More Joy, under the pen name of Ariel Paz. And yet Hemingway reached a point in 2015 James Calvin, who he said gave him tips and David Hewett (MS, Business and Finance ’96), when he was looking for a career shift. confidence. n Assistant Professor Shabnam Mousavi managing director/U.S. surety leader at Marsh, an was elected president of the Society for the insurance and risk management firm based in New Fast-forward to spring 2017. Hemingway “I had never had relationships with profes- Advancement of Behavioral Economics. Her two- York, was featured in a Q&A article in Engineering delivered the student remarks at the Johns sors like that,” he said. “These are folks I year term in the position will begin this July. News-Record. Hopkins Carey Business School gradua- really appreciate getting to meet and devel- tion, where he received his MBA degree. oping a relationship with.” After graduating, he took a job with Exelon — Luke Lavoie

26 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL ILLUSTRATIONS: GLUEKIT JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 27 ALUMNI

John Sadowski (MBA ’00) is executive vice presi- Marc J. Gerstein (MS, Marketing ’07) was appointed In its article, Fast Company sang the praises dent and chief information officer at Sandy Spring national media marketing manager of Maserati North means that any individual, whether it's the THE COMPANY Bank, based in Columbia, Maryland. America, in Auburn Hills, Michigan. SOMETHING VENTURED, of emocha’s “HIPAA-compliant mobile founder, investor or employee of the start-up, THEY KEEP app that lets patients record a video of Jahansha (John) Behzad (MBA ’03) is principal at Heather Bowen Ray (MS, Marketing ’07) is a SOMETHING GAINED can achieve their fullest potential... [and] that the Bronwood Group, a Los Angeles-based health healthy habits coach and consultant, helping clients their differences are celebrated as a value-add, themselves taking their meds and send it Elizabeth Galbut, a care management and consulting firm that works with reduce stress, improve sleep, lose weight, and rather than a value-detractor.” to their care provider. Hospitals and public 2015 graduate of the health agencies around the country are using health care provider organizations. Behzad previously increase mobility, among other beneficial steps. served as the first chief executive officer of the Cali- MBA/MA in Design This past February, Galbut described SoGal emocha to support people with tuberculosis, Kassandra Saridakis (MS, Real Estate ’07) is a fornia Rehabilitation Institute in Los Angeles. Leadership program Ventures and its mission in a live interview on vice president at NKF Capital Markets in Washington, opioid use disorder, HIV, and hepatitis C – offered jointly by CNBC’s Squawk Box. Oleg Naydonov (MBA ’03) is founder and president D.C., specializing in originating and executing debt and demonstrating medication adherence the Carey Busi- rates as high as 95 percent.” of VisaHQ. He writes: “Spurred by growth in Asia- and equity placements for the firm’s debt and struc- This isn’t the first time Forbes has recognized Pacific nations, the online visa and passport company tured finance team, with annual transaction volume ness School and the Galbut. In 2015, she was invited to participate Fast Company added: “The app has proven opened five new offices in 2017. With these addi- exceeding $1 billion. She was named to the DCA Live Maryland Institute ELIZABETH GALBUT in the magazine’s annual summit that brings particularly valuable when natural and man- tions, VisaHQ has 24 offices in 12 countries and is 2018 Rising Stars of Real Estate, nominated by peers College of Art, has together 250 notable women leaders to discuss SEBASTIAN SEIGUER MORAD ELMI made disasters impact normal infrastructure. available to over 3.5 billion people worldwide.” in the D.C. real estate community and selected for been named to Forbes magazine’s 2018 list of major social, political, and business issues. demonstrated performance in the field. Additionally, In late 2016, emocha donated services to Kathy Mignini Walsh (MS, Marketing ’03) was “30 Under 30” in the venture capital field. she was recently named an advisory board member Before entering the Carey/MICA program, Baltimore-based emocha Mobile Health, Puerto Rico, where a financial crisis had recently named the director of strategic marketing Galbut, 28, is the co-founder and managing at Airport Sherpa, the first inside-the-airport mobile Galbut worked as a strategy and operations co-founded by Sebastian Seiguer and frozen funds for health care, and helped head and communications at the John Carroll School, an ordering and delivery platform. partner of SoGal Ventures, a New York- consultant at Deloitte, focusing on clients in the Morad Elmi (both MBA ’13), made the top off an outbreak of TB among patients at a independent, coeducational, Catholic high school in based venture capital firm that specializes in Bel Air, Maryland. Previously she served as director of Sean Doordan (MS, Real Estate ’08) was recently health care industry. Once in the dual-degree 10 of Fast Company’s 2018 list of the most remote facility for mentally ill patients. In diverse organizations, particularly those led marketing for the Fallston Group, a Baltimore-based promoted to senior vice president of acquisitions program, she became a co-founder of A-Level innovative companies in the health sector. the wake of Hurricane Harvey in 2017, the by women. Since launching in 2015, the firm reputation agency, and owned JigSaw Marketing at St. John Properties. He has been with the company Capital, a venture firm run by Johns Hopkins Established the year chief executive officer health department in Houston used emocha has invested in more than 40 start-ups in the Seiguer and managing director Elmi to keep TB patients in treatment, helping Solutions, a marketing and public relations firm twice since 2005. students with the goal of funding innovations named a “Fastest Growing Woman-Owned Business” United States, Europe, Africa, and Asia. graduated from Carey’s Global MBA contain an outbreak there.” Selena Rezvani (MBA ’09) was appointed in Janu- by other JHU students and young alumni. by the Baltimore Business Journal. ary as vice president for consulting and research at “We started SoGal Ventures because through program, emocha was recognized for its In addition to naming “The World’s 50 Most In addition to her MBA/MA in Design Leader- innovative use of technology to increase Dan D’Orazio (MBA ’05) was named chief executive Be Leaderly, a Cedar Rapids, Iowa-based company our global community reaching over 50,000 ship, Galbut earned a bachelor of arts degree Innovative Companies” for 2018 across all officer last September of Sage Growth Partners, a that specializes in the development of women leaders. patient adherence to medication. The diverse founders and funders, we saw that the in economics and government from George- categories (Apple, Netflix, and Square led the Baltimore-based health care research, strategy, and In addition, she was quoted in the article “How to Use company was ranked ninth in the health biggest problem for these founders is raising town University. She also studied at Stanford way), the magazine listed a top 10 for each of marketing firm. He started at the firm in 2005 and Your Alumni Network for Business Success,” which category, which was led by CVS Health, money,” Galbut said in a June 2017 interview University, the London School of Economics 36 sectors, ranging from artificial intelligence rose to become president in 2016. He was profiled ran in March on the website of Business News Daily. followed by 23andMe in second place. with Vator, a news website that covers entre- to finance to transportation, as well as health. in March in The Baltimore Sun. and Political Science, and the Universitat Jeff Ryan (MBA ’09) was promoted to chief operat- preneurship and investing. “We're true believ- Autònoma de Barcelona. Wendy M. Edmonds (MS, Marketing ’05) is a ing officer of Cancer Treatment Centers of America ers that women are one of the last remaining lecturer at Bowie State University. She was presented in Philadelphia. Ryan, who has been at CTCA since arbitrage opportunities for investment, both Jarrett Bauer, a 2012 graduate of the Carey with the 2018 Idahlynn Karre Exemplary Leader- 2012, will continue in his position as senior vice in private and public markets, but we're also Business School's Global MBA program, was ship Award (Team Award) at the Chair Leadership president of finance. named to the Forbes “30 Under 30” list for 2016 Chief executive officers in several other big believers, and this comes from my design A SOLID Academy’s 27th Annual International Leadership in the area of health care entrepreneurship. While categories were acknowledged in the annual background and education, that diverse teams Conference in Denver, Colorado. in his 20s, Bauer co-founded Health Recovery REPUTATION honors. The newspaper hosted a dinner for are much deeper than just gender.” Paul Christo (MBA ’06), an associate professor in 2010s Solutions, a New York-based firm that works the honorees last November. She added, “Our DNA is centered around The Daily Record, the the pain medicine division at the Johns Hopkins School Faizun Kamal (MBA ’10) is a franchise coach with with hospitals to help patients with high risk of investing in start-ups with a culture where Baltimore newspaper Besides his role at Fallston Group, Weinhold of Medicine, is the host of the radio show Aches and the Franchise Consulting Company. Kamal works with readmission avoid return visits. diversity is cherished and celebrated. That covering business and is a published writer. He authored, with Gains, which airs Saturdays on Sirius XM. It has fea- professionals in the midst of a life transition, helping legal issues in Maryland, Maryland writer Kevin Cowherd, the book tured experts in therapeutic techniques, as well as every- them find their “perfect fit” franchise businesses selected Rob Weinhold The Art of Crisis Leadership: Save Time, day people and celebrities who have overcome chronic based on an assessment of their personal, career, pain. He also has released a new book, a layman’s guide (MS, Marketing ’03) as Money, Customers and Ultimately, Your Career, and income goals. Maryland region for St. John Properties. His new Ted Simpson (MBA ’12; MS, Information Systems to pain management, titled Aches and Gains: A Com- duties include directing entitlement efforts for ground- ’12) was promoted to managing director at global one of its Most Admired released in 2016 by Apprentice House. Jonathan Williams (MS, Real Estate ’10) is owner- prehensive Guide to Overcoming Your Pain. up construction activities and working with local juris- consultancy Huron, focusing on the education busi- ROB WEINHOLD CEOs of 2017. principal at Real Projectives in Laurel, Maryland, a In his career in public service, Weinhold dictions to obtain necessary approvals and permits. ness. With more than 20 years of experience in the Seing Youn (MS, Finance ’06) is an associate consulting services firm that he founded and that is Weinhold heads Fallston Group, a Baltimore- served as public affairs director for the higher education field, he has helped universities plan principal examiner at the Financial Industry Regulatory marking 10 years in operation. It employs 10 people, Claudia Bellony-Atanga (MBA ’12), an economic based firm designed to build, strengthen, and Baltimore Police Department, chief of staff for and implement financial, human resource, and Authority. three of whom are also Carey graduates. The firm pro- research specialist with the Charles County, Mary- defend reputations around the world. He was for the United States Department of Justice, student information systems to improve operations. Samuel C. Durso, MD (MBA ’07) is the Mason F. vides professional project management and advisory land, Department of Economic Development, received recognized in the category of private company and senior executive in the Maryland Steve Chaplain (MBA ’13) is operations manager at Lord Professor of Medicine and director of the Division services to owners, investors and users of income- the designation of certified community researcher Social Progress Imperative in Washington, D.C., work- with 50 or fewer employees. Governor’s Office. of Geriatric Medicine and Gerontology at the Johns producing real estate throughout the United States. last December from the Council for Community and Economic Research, an Arlington, Virginia-based ing as an operations management professional and Hopkins School of Medicine; and executive vice chair Nigel Assam (MS, Marketing ’11) is a Realtor organization that promotes excellence in community implementer of numerous organizational enhancements of the Department of Medicine at the Johns Hopkins with the Bordon Team of Keller Williams Integrity and economic research. She is reportedly the second and strategic systemic change in various nonprofit Bayview Medical Center. He was named editor in chief in Ellicott City, Maryland. organizations. Also, he has volunteered for the past two of Current Geriatric Reports and editor of the seventh person in Maryland to earn the designation and the first years as the treasurer and fundraiser for the Bancroft edition of Reichel’s Care of the Elderly: Clinical Danny Severn (MS, Real Estate ’11) was promoted African-American woman in the United States to do so. Elementary School Parent Teacher Organization. Aspects of Aging from Cambridge University Press. to director of development for the Virginia/Central

28 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL JOHNS HOPKINS CAREY BUSINESS SCHOOL • SPRING 2018 | 29 ALUMNI

BOSTON U. BUSINESS From 2010 through 2013, he was a senior NEW ALUMNI DEAN, JHU PROVOST advisor to KKR. CLUBS SET FOR TO SPEAK AT CAREY Kumar, JHU’s senior vice president for aca- BOSTON AND GRADUATIONS demic affairs as well as provost, will deliver CHICAGO the featured speech at the Carey School’s summer graduation ceremony August 2 at Boston University Questrom School of Busi- Carey Business School alumni joined the Meyerhoff Symphony Hall. Dean Bernard T. Ferrari and other ness Dean Kenneth W. Freeman and Johns Kumar also is a tenured faculty member of members of the school’s leadership Hopkins University Provost Sunil Kumar the Carey Business School and holds a joint at an April 17 kickoff celebration for will be the featured speakers at the Carey FREEMAN the new alumni club in Boston. Business School graduation ceremonies appointment in the Department of Applied planned for this spring and summer. Mathematics and Statistics at the Johns Hop- The event, held at the State Room kins Whiting School of Engineering. overlooking Boston’s downtown Freeman will speak at the spring event to be and harbor, marked the launch of held May 22 at the Joseph Meyerhoff Sym- Before arriving at Johns Hopkins in 2016, he Carey’s sixth alumni club. From late phony Hall in Baltimore. He was appointed was dean of the University of Chicago Booth DEAN FERRARI AND MEMBERS OF CAREY LEADERSHIP FIRE CONFETTI CANNONS TO MARK THE START OF BEET WEEK 2014 through mid-2016, chapters the Allen Questrom Professor and business School of Business, as well as the George were opened in Beijing, Shanghai, school dean at BU in 2010. A study of global Pratt Shultz Professor of Operations Man- San Francisco, and New York. A BEETS ARE GOOD FOR YOU business leadership conducted at INSEAD agement. During his five-year tenure as dean Mid-Atlantic chapter was established In late April, the Carey Business School held can stay connected to the school and the at Booth, Kumar focused on student recruit- a year ago at a reception at the Hay- business school and published in 2013 in the its inaugural Beet Week. The Carey community university; and lots of fun activities including a Harvard Business Review named him one ment, expanded courses for undergraduates, Adams Hotel in Washington, D.C. gathered at the Harbor East campus to pie-eating contest and a wrap-up Beet Week KUMAR of the 100 best-performing chief executive and helped establish the Polsky Center for A seventh alumni club, based in celebrate the transition of soon-to-graduate Beach Bash at the Sandlot restaurant on spun off as Quest Diagnostics Incorporated officers in the world. Entrepreneurship and Innovation. Chicago, is scheduled to be opened students to alumni status, and to honor the Harbor Point, just a beet’s throw from campus. soon thereafter. He led the turnaround of this spring. philanthropic legacy of William P. Carey. The (Why “Beet Week”? The name acknowledges Freeman began his career at Corning Incor- Quest as chairman and CEO through 2004. – Tim Parsons and Andrew Blumberg four-day event, spearheaded by the Office of William Carey’s commitment to cover the debt porated in 1972, going on to lead several of For more information about Development and Alumni Relations, featured of American beet farmers who worked for a In 2005, Freeman joined Kohlberg Kravis its businesses. He joined Corning Clinical Carey’s alumni clubs, contact a festive kickoff celebration with remarks company in which the Carey family held stock Roberts & Co. (KKR), serving as a managing the Alumni Relations office at by Dean Bernard T. Ferrari; presentations by and who suffered major financial losses when Laboratories in 1995, and the company was director and partner until joining Boston U. [email protected]. Carey alumni and others on how graduates the company was forced to liquidate.)

Ken Rothfield (MBA ’13), who also has a medical segment about “must-have holiday gifts” last Novem- She provides business development marketing Benjamin Cirka, MS ’06 Sam Huleatt, MBA ’08 Mark Schaper, MBA ’10 degree, is chief medical officer at HCA Medical City ber on ABC’s Good Morning America program. strategy and support to real estate brokerage teams DEAN’S ALUMNI Founder and Executive Director Co-Founder Vice President, Business Strategy Dallas. He writes: “After completion of my MBA, I tran- across all service lines. She was previously with Park- ADVISORY Community Hospitality Healthcare Heights Media, LLC & Corporate Development Ryan Beres (MS, Health Care Management ’16) is sitioned from the full-time practice of anesthesiology to ing Management Inc. as director of marketing. There, Services MCP Asset Development Group a medical economics manager at ChenMed in Miami, BOARD 2017-18 John Meduri, MS ’94, MBA ’00 a leadership role as chief medical officer at Ascension she was in charge of the multi-channel marketing Florida. Beres previously worked at Highmark health Garry Choy, MD, MBA ’13 Head of Business Development Sachin Shah, MBA ’10 Health’s hospital system in Jacksonville, Florida. After efforts for the company. Andrew Klein, MD, Chair care in Pittsburgh, Pennsylvania, where he began Chief Medical Officer of Q Bio Inc. Accelerate Diagnostics, Inc. Program Manager three years there, I accepted a position with HCA as Certificate Business of Medicine ’99, as an associate consultant in client delivery for the Spencer Twigg (MS, Health Care Management ’16) and Co-Founder/Chief Medical Officer Food and Drug Administration CMO of its tertiary care hospital in Dallas, Texas.” MBA ’02 Katherine Pinkard, MBA ’14 consulting services arm and was promoted to project was recently promoted from administrative specialist of CredSimple Esther and Mark Schulman Chair in President Ted Sniffin, MS ’97 Firas Rabih Maad (MBA ’14) is vice sector head, manager in the medical economics department. to assistant chief executive officer at the Carolinas Surgery and Transplant Medicine Charles Constable, MBA ’05 Pinkard Properties Executive Vice President Deputyship of Sectorial Affairs, Ministry of Economy Hospital System in Florence, South Carolina. Jingyang Jiao (MS, Finance ’16) is an assistant to Director of the Comprehensive Head of Private Client Business Booz Allen Hamilton, Inc. and Planning in Saudi Arabia. He writes: “Since June Allison Reardon, MBA ’07 two financial advisors at Cathay Bank in Industry, Jeffrey Woolford (MBA ’16), a United States Air Transplant Center Brown Advisory 2017 I have been advising the Ministry of Economy Associate Vice President, Julie Teahan, MS ’98 California. She has worked at the bank since Febru- Force lieutenant colonel and a single-seat qualified Professor and Vice Chairman of the and Planning on projects/initiatives in the areas of William Enright, MS ’96 Client Executive Principal ary 2017 and was preparing to take the California pilot physician, was profiled last December in his Department of Surgery transportation and logistics and Special Economic President and CEO AT&T PricewaterhouseCoopers, LLP insurance license exam and the General Securities hometown newspaper, the Carroll County (Maryland) Cedars-Sinai Medical Center Zones within the Kingdom of Saudi Arabia.” Altimmune Representative Exam this May. Her near-future goal is Times. He also earned a master of public health degree Randy Russell, MBA ’01 Sally Turner, MAS ’94 Chris Barnhill, MBA ’12 Kandarp Patel (MBA ’14), based in Portage, Michigan, to become a junior advisor at the bank. in 2014 from the Johns Hopkins Bloomberg School of Anita Holloway, MD, MBA ’02, Managing Director IT Strategy and Business Development Manager, New Business Development is a program manager in the automotive business of the Public Health. He received his medical degree in 2008 Certificate Business of Medicine ’09 Americas Head of Media & Consultant Gregory Petrossian (MS, Health Care Manage- Verizon Wireless Wholesale Eaton Corporation. He graduated from Eaton's Global from the Uniformed Services University of the Health Market Vice President and Telecom Coverage ment ’16) is a business transformation consultant with Hao Yu, MBA ’12 Leadership Development Program in 2016. Sciences, F. Edward Hébert School of Medicine. Jonathan E. Bradley, MBA ’09 Medical Officer Deutsche Bank Securities, Inc. CSG Pro, a Portland, Oregon-based firm that assists President and Chief Commercial Officer Founder and Portfolio Manager Wisconsin and Michigan Market Ashley Miller (MBA ’15) is marketing director for in Agile software development, data warehouse archi- Shiqing Huang (MS, Finance ’17) wrote the article QuanDx Cristata Wealth Solutions, LLC Humana, Inc. Aid Through Trade, an Annapolis-based company that tecture, and data visualization. “A Study on the Motivation of APEC Volunteer and Its creates sustainable fair trade opportunities through Relationship with Job Satisfaction,” which appeared Rachel Ross (MBA ’16) recently joined CBRE as innovative design of fashion accessories. Aid Through in the December 2017 issue of the Journal of Service marketing manager in Washington, D.C., supporting Trade products were featured in a “Deals and Steals” Science and Management. the D.C., Bethesda, Tysons, and Baltimore offices.

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RICHARD MILTER Professor on the practice-track faculty of the Carey Business School. INVEST IN THE Education: PhD in organizational behavior/policy analysis, University at Albany - State University of New York. FAILURE IS As researcher and instructor, AN OPTION FUTURE OF has expertise in the areas of management education and Hard-Earned Advice for collaborative learning. Aspiring Corporate Leaders: Designer of an MBA program awarded “best practice” status “ Take an opportunity to as a benchmark for “Technology- prepare by failing” Mediated Learning: Enhancing BUSINESS By donating to Carey, you can the Management Education I believe that if you’re always succeeding, you need to seek out greater Your investment in the Experience” by the Association support the school’s mission to Advance Collegiate Schools opportunities to fail. It is only through failure that we learn. Not seeking out and inspire our students with of Business and the American those failure opportunities is like being an athlete who smokes. You’ll never Johns Hopkins Carey your commitment. Productivity and Quality Center. know how good you can be unless you kick the habit. Associate editor, Advances in People say, “Once you’ve learned to ride a bike, you never forget.” But do Business School helps To make a gift by credit card, Business Education and Training. we ever talk about what it was like to learn to ride the bike? How many of visit carey.jhu.edu/give. you read a book on how to ride a bike? How many of you heard a lecture on us provide the best Editorial board member for the book series Research how to ride a bike? Chances are you learned to ride because you failed in You can also go to rising.jhu. in Management Education your first attempts. education for tomorrow’s edu/giftplanning to explore gift and Development. If you get good at something, and you keep doing it that way, and you’re planning strategies, including: Editorial board member, safe, then you’re never going to fail. You’re never going to change. business leaders. Innovation and Change in You might get locked into the tyranny of expertise. That’s when you get • Gifts of stocks and bonds Professional Education. trapped in “unconscious competence,” where you have all you need to know, and you’re not aware that you’ve become unconsciously incompetent. • Gifts that pay you and your The idea is to take an opportunity to prepare by failing. Let’s jump in loved ones a lifetime of income and try something with very little information initially. But let’s try it, let’s • Bequests through your will experience it, let’s go back to learning to ride the bike. My challenge to you is to consider failure a true option. During the Apollo • Designating the Johns Hopkins 13 mishap in 1970, the statement that was never made (but was used in the Carey Business School as film about the accident), “Failure is not an option,” could only have been beneficiary of your employer- made because NASA had already considered hundreds of failure options in sponsored retirement plan, anticipation of such an event. Individual Retirement Account (IRA), or life insurance policy

THE BOTTOM LINE: • Gifts of real estate

“IF YOUR CONCERN IS ‘I WANT TO BE SUCCESSFUL,’ MY SUGGESTION IS TO WORK TO FIND THE FAILURE OPPORTUNITIES.” Professor Richard Milter during his remarks (which have been edited here) at the TEDx JHUDC event held February 24, 2018, on the Washington, D.C., campus of the Johns Hopkins School of Advanced International Studies. For the full video of his presentation, search "Rick Milter Failing to Succeed" on YouTube.

32 | CAREY BUSINESS • JOHNS HOPKINS CAREY BUSINESS SCHOOL ILLUSTRATION: SERGE BLOCH Non-Profit Org. U.S. Postage Paid Baltimore, MD Permit No. 1235 3400 N. Charles Street Baltimore, MD 21218