MARRIOTT ALUMNI MAGAZINE Entrepreneurs: Taking Healthy Risks Crisis of Confidence Managing Continuous Change MARRIOTT SCHOOL OF MANAGEMENT | BRIGHAM YOUNG UNIVERSITY | WINTER 2003 2003 marks the 20th anniversary of the Tanner Building—the first academic struc- ture on the BYU campus funded completely by donors. The building is named for successful businessman, Apostle, and three-time counselor in the First Presidency of The Church of Jesus Christ of Latter-day Saints, Nathan Eldon Tanner. The 120,000-square-foot structure is home of the Marriott School and serves 3,000 graduate and undergraduate management students and about 200 faculty, staff, and administrators. The building has a seven-story atrium and is finished in Rockville White Granite from Cold Springs, Minnesota. CONTENTS alumni exchange speeches at work special feature trends what tactics do you recommend to manage excessive stress? responses from building a family crisis of taking healthy risks— Managing 34alumni legacy: the 8 confidence 12 experiences of four 18 continuous marriott story An interview with fraud marriott school change By Richard E. Marriott expert W. Steve Albrecht entrepreneurs By Christopher By Grant R. Madsen B. Bingham NEWS 2 dean’s message 28 alumni news Entrepreneurship: The Modern Pioneer Spirit Fraser Bullock is named the Marriott School’s 2002 By Ned C. Hill Honored Alum. Alumnus is featured in Worth maga- zine, accountancy graduate receives highest CPA score 23 school news in Oregon, and an alumna competes in the Miss The Marriott School earns high rankings from The Wall America Pageant. This section also includes Street Journal and Business Week. CIBER changes name to Management Society news and class notes. Global Management Center and offers certificates for undergraduates. Faculty receives awards and recognitions, and thirteen new faculty members are introduced. Cover and inside cover photos by Bradley H. Slade. Visit Marriott Alumni Magazine online at marriottmag.byu.edu nder the inspired leadership of Our way of life today is a testament to ate, or even nonbusiness students—all U President Brigham Young, the the successes of yesterday’s entrepreneurs: BYU students can participate in entrepre- Mormon pioneers left the known and cell phones, personal computers, modern neurship programs. established world of the settled United agricultural products, CAT scans, cancer The center teaches the principles of States to venture into the largely treatments, etc. entrepreneurship through many different unknown frontiers of the West. They Entrepreneurship is the pioneering channels. Each semester the center spon- faced unimaginable challenges. Where spirit, and it’s a natural theme for the sors a lecture series featuring entrepre- would they find water? How would they Marriott School. Not only is the university neurs with fascinating stories. They share grow food in the harsh climate? Where itself named after the great entrepreneur with students both their successes and would they get the supplies they needed? Brigham Young, the school is named for failures. The center also offers courses in How would they take care of medical entrepreneurs J. Willard and Alice S. entrepreneurship. Each year the center problems? How would they protect them- Marriott. This illustrious couple started a sponsors a popular student competition selves against the elements? little venture in Washington, D.C., selling for new ventures. It offers cash prizes and critical reviews by entrepreneurs and sea- soned investors. One or two ideas regular- ly evolve into real ventures. Entrepreneurship: A few years ago, for example, an MBA student, Jonathan Coon, wrote a proposal The Modern to sell contact lenses over the phone and the Pioneer Spirit Internet. The proposal was well received and some angel investors determined that by dean ned c. hill the idea was worth an investment. Within a couple of years, 1-800-CONTACTS became a multi-million dollar company! Some entrepreneurs give students internship In spite of seemingly insurmountable ice cold A&W Root Beer. Later, they experience, while others serve as mentors challenges, they came forth by the thou- added hot chili and tamales to their for students, advising them on career paths sands having faith in themselves, in their menu, grew the business into a restaurant and critiquing resumes. leaders, and in God. And they succeeded chain, and then used the proceeds to The center is also a magnet for faculty marvelously. Thriving cities, communi- found the world-renowned Marriott providing material for writing business ties, and families all across the West are hotel companies. cases, funding research projects, and even living tributes to their achievements. In addition, the Marriott School is helping to launch successful start-ups. Today’s business entrepreneurs are in housed in the Tanner Building, named Faculty are also involved with students in many ways the modern equivalents of after President N. Eldon Tanner, a coun- field studies. These are consulting projects those hearty pioneers. Indeed, one would selor to four Church presidents. Before he completed by a team of students who be hard pressed to find a greater entrepre- became a General Authority, President work with a faculty expert to solve a well- neur than Brigham Young. He led the Tanner led the largest and most successful defined business problem. founding of hundreds of business, agri- entrepreneurial venture in Canada (to The school’s Entrepreneurship cultural, and educational ventures and that time at least)—the trans-Canadian Center has been so successful that it has established hundreds of settlements from pipeline project. There are few universi- generously helped establish similar pro- southern Canada to the Mexican border. ties in the country that can boast such grams at our two sister institutions, Like Brigham Young and the early outstanding entrepreneurial namesakes as BYU—Hawaii and BYU—Idaho. In addi- pioneers, modern entrepreneurs leave BYU’s Marriott School. tion to funding support to jump-start the comforts of established organiza- To convey this pioneering spirit to our entrepreneurship programs on both tions and known business practices and students, the Marriott School established campuses, a business plan competition venture into the unknown frontiers of the Entrepreneurship Center in 1989. The has been held at BYU—Hawaii for the new and untested ventures. They, too, are center has become one of our most past three years. Marriott School entre- faced with often unimaginable risks. Will vibrant programs. Under the energetic preneurs visited the Laie, Hawaii campus anyone buy this new product? Where will leadership of Donald H. Livingstone, for several days to judge the plans, I obtain the funding to grow and to meet assisted by able staff and volunteers from instruct students in entrepreneurship, payroll? What are the legal minefields the entrepreneurship community, the and award the plan winners. I’m venturing into? In spite of these center provides students with resources to Entrepreneurship is the pioneering sometimes daunting challenges, entre- help them understand the principles of spirit. It will always be an important part preneurs go forth risking all to bring new entrepreneurship. It doesn’t matter of the learning experience for Marriott ideas to fruition. whether they are graduate, undergradu- School students. m 2 MARRIOTT ALUMNI EXCHANGE A forum for alumni to share ideas about challenges facing Marriott School graduates. what tactics do you recommend to manage excessive stress? industrious alaskans have developed 2) Have an eternal perspective. Think Marriott Alumni unique stress management techniques. about what life will be like in the hereafter. Many employers in the northern region No doubt you will see the stressors of life Magazine give employees “subsistence leave” as a in a new light. Focus on those things that negotiated benefit. How do the thrifty are most important and that you can con- winter 2003 natives use their subsistence leave? They trol. Reexamine your priorities and plan prepare for the cold months ahead by accordingly. Don’t take yourself too seri- drying and packaging hundreds of fish ously. It will all work out. Ned C. Hill, Publisher and enjoy family time together handpick- 3) Consider change. Sometimes you may Joseph D. Ogden, Managing Editor ing quarts of blueberries. need to change your environment perma- J. Melody Murdock, Editor This annual ritual gives us four useful nently by changing jobs, neighborhoods, Byron Bronk, Copy Editor insights to skillfully manage stress. or friends. You may also consider more Jeremiah Simpson, Art Director 1) Plan engaging ways to stockpile temporary changes like going on vacation Emily Smurthwaite, Assistant Editor necessities. You may initiate a small finan- to see things in a different way. Sometimes Jenny Stathis, Contributing Writer cial venture, plant a garden, learn new you may need to change you. Prayerfully Michael Johanson, Contributing Writer skills, or listen to and read uplifting and consider possible growth areas and Jessie Christensen, Contributing Writer motivating media. Target your plan to options. Sometimes you need to weather Nina Whitehead, Contributing Photographer relieve specific stresses in your life. the storm and exude the patience of Job 2) Invite family and friends to take before you will see the purpose and bless- Published by the Marriott School of part in this process. Loved ones give ings of the stresses in your life. Management at Brigham