THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley NONPROFIT ORG Haas School of Business US POSTAGE 545 Student Services #1900 PAID Berkeley, CA 94720-1900 S.M.I BerkeleyHaasFall 2015 14 DREAM MAKERS 8 MODERN BRANDING 24 DEAL FLOW Danae Ringelmann and Eric Schell, MBA 08s, Prof. Emeritus David Aaker reflects on The Berkeley-Haas alumni network powers revolutionize the crowdfunding industry branding trends past and future new ventures 2015 Business Leader of the Year 1996 · 200 91 · 1 · 2 19 00 · 6 86 · 9 20 1 1 · 1 1 · 8 E 9 M 1 · B A 6 7 April 29-May 1 1 9 4 Progress 1 · · 2 1 0 7 1 9 5 1 REUNIONREUNION in a Bold WEEKENDWEEKEND Quest 2016 Joseph Jimenez, MBA 84, the CEO of Novartis, has set his firm in a battle against various forms of cancer. And the Relive the best of your Berkeley-Haas experience! outlook is promising. Catch up with classmates, listen to engaging lectures, make new connections, and bring your family back to campus. Everything you loved about business school—without the exams. haas.berkeley.edu/reunion #haasreunion Question the Status Quo Fall 2015 FEATURES AND DEPARTMENTS The Confidence Without Attitude Issue EXECUTIVE EDITORS Confidence Without Attitude Richard Kurovsky UP FRONT Ute Frey Students Always MANAGING EDITOR Beyond Yourself Amy Marcott DESIGN Cuttriss & Hambleton, Berkeley Berkeley-Haas alumni STAFF WRITERS Laura Counts, Kim Girard, enjoy open- Pamela Tom 15% off MBA Classes Fed Reserve Chair Janet Yellen enrollment programs. 2010–2015 2 Haas List CONTRIBUTING WRITERS Berkeley-Haas economists John Deever, Mandy Erickson, rule the financial world. Kate Madden Yee, Mike Rosen, Are eligible for Nate Seltenrich, Bill Snyder, 4 Haas News Autumn Stephens 2 free days of Patrick Awuah, MBA 99, Executive Education within wins a genius grant; Philan- PHOTOGRAPHY thropy University debuts. Eric Don Arthur, Jim Block, Upcoming Programs 5 years of graduation. 6 Power of Haas Ideas Maryana Hordeychuk, Karl How nonverbal cues affect Nielsen, Genevieve Shiffrar, racial discrimination. Ted S. Warren ILLUSTRATOR IN THE BACK Richard Mia BerkeleyHaas magazine is published by the Haas School of Business, University of Since assuming the helm of Novartis in 2010, Joseph Jimenez, MBA 84, has streamlined the largest California, Berkeley. For company in Europe by market value to focus solely on pharmaceuticals, eye care, and generics and further information, contact: has taken special aim at cancer. Jimenez, 55, came to Novartis from consumer goods, giving him a unique vantage from which to re-envision the pharmaceutical industry. Page 11 BerkeleyHaas Magazine Editor Haas School of Business University of California Berkeley, Slack’s April Underwood, MBA 07 CA 94720-1900 8 Modern Branding 16 Your Haas Network BerkeleyHaas Fall 2015, On the occasion of his induction into the Marketing Hall of Fame, Haas Alumni from Slack, Kinara, Number 90. Prof. Emeritus David Aaker reflects on branding’s emergence 25 years ago Shoes of Prey, Airbnb, GE For change of address, email and its future. Healthcare, Backblaze. [email protected]. 20 Campaign for Haas Jacobs Fellows improve 11 Progress in a Bold Quest the developing world. Women’s Executive Leadership Negotiation and Influence Berkeley-Haas’ Business Leader of the Year Joseph Jimenez, MBA 84, the 22 Worldwide Events CEO of Novartis, has positioned the pharmaceutical giant to anticipate Homecoming and more. April 25–28, 2016 March 21–23, 2016 future health care trends and to make momentous strides against various 24 Connections Faculty Director: Laura Kray Faculty Director: Holly Schroth forms of cancer. Jimenez isn’t afraid of risk or failure, and his leadership has Michael Berolzheimer, been focused, confident, and, at times, bold. Ideal for: Women in mid-senior-level Ideal for: Product management, sales, marketing, and MBA 07, champions entre- executive positions business development preneurs and investors. 14 Dream Makers 26 Alumni Notes Danae Ringelmann and Eric Schell, MBA 08s, have been awarded 39 In Memoriam Berkeley-Haas’ Leading Through Innovation Award for revolutionizing 40 Personal View the crowdfunding industry and helping turn dreams into reality. Prof. Jenny Chatman, Find the right opportunity for you and your team PhD 88, on life at Amazon. executive.berkeley.edu CONTACT: +1.510.642.9167 Fall 2015 1 Haas List Alumni Students Entrepreneur’s 5 Playbook Faculty & Alumni Wondering where to Power Base connect with seasoned Economists 2 founders for frank Berkeley-Haas’ gender equity efforts Students discussions? Looking for continue to pay off. Women now Social Impact talent? Have questions Case Study with Clout Metrics about research and make up 43 percent in the Full-time technology transfer? Berkeley MBA Program overall— Some nonprofits Prof. Patricia Access Haas and Scaling 1 don’t have the re- Dechow Berkeley resources for which may be the highest percentage sources to measure the 4Faculty entrepreneurs or those among the top-ranked business Fair effectiveness of their thinking of launching a programs. A new class Accounting startup on our new page: schools. Not bad for a student body aims to change that, Accolades haas.berkeley.edu/ that was less than one-third female Trade thanks to a multi-year alumni/entrepreneurship. How can Fair Trade USA, the leading third-party partnership between Prof. Patricia Dechow’s just two years ago. In August, Haas’ 8certifier of fair trade products in North America, grow biotech firm Amgen research has made quite Senior Assistant Dean and Chief despite increasing competition from other certification and Berkeley-Haas’ a mark. Her 2002 paper organizations like Rainforest Alliance and Utz? How Center for Social Sector “The Quality of Accruals Rankings Strategy & Operating Officer Jo can the Fair Trade USA label be more prevalent amid Leadership (previously and Earnings: The Role Journal , shared Haas’ general market confusion over consumer packaging known as the Center for of Accrual Estimation Envy Mackness, MBA 04 labels? These are some of the questions explored Nonprofit and Public Errors,” has received more 6 Once again, efforts at a meeting of 47 B-schools in a new case study by Professor Laura Tyson and Leadership). than 2,500 citations, California Management at the White Berkeley-Haas Social Impact Fellow Jennifer Walske. Berkeley MBA stu- according to Google Review beat competitor They focus on the challenges and growth strategies dents taking the Social Scholar. This work also journals Harvard House. There, that Founder, President, and CEO Paul Rice, MBA 96, Impact Metrics course earned her the prestigious Business Review and the schools and his team are debating. The case is available from the are helping four cancer 2015 Distinguished MIT Sloan Management Berkeley-Haas Case Series: cases.haas.berkeley.edu. patient advocacy groups Contribution to Review in the number of committed to measure the outcomes Accounting Literature times its articles are of specific initiatives— Award from the American cited in academic best practices to such as a support Accounting Association, publications. The school’s close the gender helpline and website along with her co-author, interdisciplinary journal, features—and will rec- Emory University Prof. Industrial and Corporate gap and cultivate Faculty ommend solutions. Ilia D. Dichev. The award Change (ICC), also scored leaders who can Ultimately students recognizes accounting high. ICC focuses on Honors from Canada aim to create best research that has technological change and manage diverse In a Scottish Clockwise from top left: Severin Borenstein; David I. Levine; James Wilcox; Janet Yellen; Robert Seamans, practices for many non- significantly impacted organizational processes ceremony featuring PhD 09; Jay Stowsky; Laura Tyson; Jonathan Leonard; Michael Katz; and Carl Shapiro. workplaces. profits to measure the the discipline for at least and structures. 9 bagpipes and a impact of their efforts. five years. Incoming students bond over dramatic introduction by an Berkeley-Haas economists, quite simply, rule the financial tug-of-war at the orientation orator, Professor David J. Teece week Cohort Olympics. world. As Federal Reserve chair, Professor Emeritus Janet received an honorary doctorate from the Yellen’s decisions affect markets worldwide. But many University of Calgary’s from the Haas community lend their expertise to the federal Haskayne School of Business in Alberta, government. The most recent appointment is Robert Canada, in June. He Prof. David J. Teece Seamans, PhD 09, who’s serving as a senior economist on was recognized for his work as “a great management the President’s Council of Economic Advisers. This Council thinker and a role model for research has had many from Haas among its ranks, including Senior and leadership.” Teece, who is also director of the recently launched Asst. Dean for Instruction Jay Stowsky and Professors Tusher Center for the Management Jonathan Leonard, David I. Levine, Carl Shapiro, Alumni of Intellectual Capital at Haas (see Facebook Network p. 4), researches the theory of the James Wilcox, and Laura Tyson, who was also chair of the firm, strategic management, the Silicon Valley likes Berkeley-Haas. Among economics of technological National Economic Council under President Clinton. Haas business schools, Haas has the most alumni 3 change, and more. He has been working at Facebook—68 according to a new list by economists have also served at the Dept. of Transportation