When asked what I would be doing for Spring Break by fellow members of the MBA Class of 2013, I got some odd looks when I replied, “helping with an economic impact study.” Many of my friends and colleagues were going to places like Cuba and Thailand, and I was doing an economic impact study? Yes, indeed.

As it turns out, the economic impact study I was helping with would make for a very rewarding Spring Break. Going in all I knew was that I would be helping Brent Lane from the Kenan Institute with his research regarding the economic impact of the USS North Carolina battleship on Wilmington, NC’s economy. I had met Brent and the other researchers briefly in a meeting on campus. In addition to Genny King and I from Kenan-Flagler, we were joined by three UNC PhD students; one in public policy, one in planning, and one in economics. I was excited for the opportunity to work with other students from other programs.

This past February, I traveled with my teammates to Boston, MA to participate in the Hult Global Case Challenge.  Here we are, left to right, in the accompanying photo: Emily Dorfman, Sid Padgaonkar, Elissavet Abdelnour, our ambassador from Hult, Genny King, and Peter Brinkerhoff.

The mission of the Hult Global Case Challenge is to develop innovative solutions to some of the world’s most pressing social challenges and encourage breakthrough ideas from college and university students around the world. Our team was selected from a pool of more than 4,000 applications to participate in the competition. We were able to participate in the competition through support from the MBA Program Office and Center for Sustainable Enterprise.

Last November,five of my fellow Kenan-Flagler classmates and I competed in the annual National Real Estate Challenge at the University of Texas in Austin.  The case, written and organized by a team from J.P. Morgan’s asset management team, was a mock investment committee pitch based on a real life scenario the J.P. Morgan group had encountered earlier in the year.  The seventeen participating teams, all from top 25 MBA programs, were asked to evaluate a portfolio of office properties (owned by a  J.P. Morgan fund) and determine which properties should be kept, which should be sold, and how to execute the transaction to maximize investor value.  The group of judges, several of whom were from J.P. Morgan, was made up of twenty prominent real estate executives from around the country.

The case forced the teams to consider aspects like fund strategy and investment criteria, JV structures, debt term sheets, valuation methods, rent rolls, and forward-looking market conditions to name a few.  The final four teams, which consisted of UNC, University of California at Berkley, University of Virginia, and University of Michigan, presented in front of an audience of approximately 250 people.  It was particularly gratifying to have four public schools in the finals, despite having Duke, University of Chicago, Northwestern, and nearly every Ivy League program represented at the competition.

Can you tell what differs between sports and Budo (Japanese martial arts)? How often did the Prime Minister of Japan change in the last 5 years? What underlies Japanese unique culture and business? On November 28, 2011, we Japanese members of International Business Association (IBA) introduced various aspects of Japan at the event “Globetrotter Series Japan”. 

Globetrotter Series is an event of IBA, in which international students introduce the mother country. In the school year of 2011/12, the series will bring out Israel, Korea and Brazil. By attending this event, one can discover a vivid culture of the country along with the country’s cuisine, as if one is traveling there.

 Makoto Yasuda started the event as he welcomed and thanked all the participants. He discussed the excellence of Japanese from the three aspects of food, service and business, which often surprise people visiting Japan. It is the pursuit of achieving the highest level of hospitality, he says, that underlies Japanese excellence in those areas.

“It takes some luck, but be ready for it when it comes your way.”   Paul Fulton, former Dean of the Kenan-Flagler Business School, former president of Sara Lee Corporation and current Kenan Institute Board of Trustees member had this advice about career success and much more to give me and my fellow group of Kenan Institute Leadership Fellows on December 15^th, 2011.  As part of our ongoing series, Food for Thought, Paul was able to join us for an intimate and informal lunchtime conversation about his leadership style and lessons learned over the course of his career.

During our chat, Paul discussed his extensive career spanning through the ranks of Hanes Hosiery, Sara Lee Corporation, Kenan-Flagler Business School, and Bassett Furniture, as well as his extensive board memberships including, Bank of America, Carter’s Inc., and Lowe’s Home Improvement.  While his career path led him across the US, the native Walnut Cove, North Carolinian and current Winston-Salem resident’s love for Carolina was clear.  After many years in Chicago with Sara Lee, it was his desire to return to his home state, in part, that helped him transition into academia and accept the Dean of the Business School position in 1994.

According to Symantec’s 2011 State of Security Report, 41% of companies believe that cyber security is more important to their business today than just one year ago. With the expense of an attack to the average business of $416,000 and an 18 day resolution period, the cost of not investing resources into this arena could mean the end of an enterprise’s ability to operate. Furthermore, as mobile technology platforms (smart phones, tablets etc.) become an integrated resource for today’s workforce, the opportunities and attempts to exploit these platforms are expected to rise sharply in the coming years. It is clear that web and network security will be an on-going concern for future business success, which begs the questions – how can you, a future business leader, be an asset for your company?

At the Frank Hawkins Kenan Institute’s Business Across Borders Summit, Mr. Pete Ondeng, a Kenyan entrepreneur, author, and consultant, gave his account on Africa’s development while also inspiring audience members to seek ways of positively impacting society.

Ondeng gave the closing keynote speech titled “Making Africa Work,” which was similar in theme to his book, “Africa’s Moment.” “Africa’s Moment” explains the challenges Africa faces in growth and development while also providing a sense of optimism for the continent’s future.

“Africa is not just the next frontier but also a hub for game-changing innovation that could change the world,” said Biju Mohandas, director of Acumen Fund in East Africa. Mr. Mohandas was a key note speaker at the Kenan Institute’s recent Business Across Borders Summit. The summit’s theme was “Africa, The New Business Frontier” and the conference provided a unique perspective on business development and the many corresponding opportunities in Africa .

Through a number of panels, this year’s summit presented different points of view on an evolving Africa. It was refreshing to see Africa (to a certain extent) demystified in a business context, and to learn of how the continent is taking a robust stance in terms of its own evolution as opposed to the often archaic and monolithic impression that many have of African business. Walmart’s recent acquisition of South Africa’s retailer Massmart represents a renewed confidence in African business as well as the shifting attention the continent is bound to receive in the near future. This aligns with a notion brought up during one of the panel discussions, “People will go where the opportunities are;” there is clearly a multitude of attractive and relevant opportunities in Africa, and these are scalable in a way that even we as business students, can take advantage of.  Furthermore, in terms of perspective, Africa’s young population mirrors Asia’s growth dividend, suggesting the potential that can soon be harnessed from a human capital standpoint. Finally, the diverse sources of growth that have pushed small but sustained development across sectors, coupled with a more progressive governance proves that Africa really is the new business frontier that has already begun to shake things up in a dramatic way.

The recent headlines of the major tire manufacturer which decided to locate across our border in South Carolina or the controversial federal loan made to the Solyndra solar plant are representative of the types of headlines that are too often associated with economic development efforts.  Economic development professionals tend to talk about the “three-legged stool” of economic development: industrial recruitment, new business creation, and BRE–business retention and expansion.  Although it rarely makes headlines, the “third leg” of the economic development stool, business retention and expansion, is often the most successful means of creating jobs and spurring growth in local communities.

Sixty to eighty percent of all new jobs created in an area come from existing businesses.  Despite this successful track record, however, local economic development organizations face much more public and political pressure to land the next “big fish,” such as a major auto assembly plant, than to make regular site visits to existing local businesses.

Having lived in Thailand for a very long time, I thought I had seen everything the country has to offer. However, the internship with the Kenan Institute has proved that there are so many things I have not yet learned.  As many emerging countries are gearing towards economic development, some sectors of the countries are left behind or being exploited. Therefore, it is the responsibility of the corporations to ensure the sustainable developments of the community and people in all business decisions.

Kenan Institute Asia has been a major contributor in sustainable development in countries in South East Asia such as Thailand, Lao PDR, Cambodia and Vietnam. It has engaged in several projects ranging from economic development to public health in several countries. During my summer internship, I worked as a consultant intern in their quality of medicine program. My project objective was to formulate a sustainable strategy to combat against counterfeit medicine problem and to promote the public understanding of counterfeit medicine. In this project, I worked closely with my fellow intern, Jennifer Brown who is pursuing her master degree from UNC Department of Public Health, and my supervisor, Christopher Raymond, a representative from US Pharmacopeia which is a non-profit organization aimed to improve the quality of medicine worldwide.

As a BSBA Kenan Institute Leadership Fellow, I’ve had the opportunity to meet some truly outstanding people. In early December 2010, Mr. Aidan Walsh, KPMG’s Partner in Charge, International and a trustee of the Kenan Institute of Private Enterprise at the University of North Carolina, was our guest for the second Food for Thought conversation of the year.

Jeremy Bergwerff, MBA 2011 and Kenan Institute Leadership Fellow, describes the Food for Thought lunchtime series as a low pressure, high impact opportunity for the Trustees of the Kenan Institute to speak directly to the Kenan Institute Leadership Fellows in a relaxed environment.

We stood in a run-down shed behind the fancy 4 and 5 star resorts that litter the beaches of Phuket, Thailand. I tried my best to comprehend the housekeeper with my limited Thai and helpful hand-motions, but eventually whispered “What is he saying?” My project partner, Kitt, replied “He said that he was once very sick. He had some kind of stomach disease then he drank that and he was better the next day”. I watched as if on cue the man poured a bottle cap of the substance and swallowed it. My eyes grew big as I realized the man had just swallowed a chemical used to clean hotels and the reason for our visit: green cleaners. This hotel visit was one of many in our summer initiative to encourage more stringent environmental measures in the hotel industry of Phang Nga, Thailand.

As TRAI (Tsunami Recovery Action Initiative) interns for Kenan Institute Asia, my partner and I worked closely with the hotel association to create a handbook on sustainability and green marketing. The experience itself was bursting with challenges and opportunities from cultural to professional. However, I never would have guessed that one of the biggest challenges would occur before the program even began.

I am a junior here at the Kenan-Flagler Business School, and I —like many other students at Kenan-Flagler, walked by the Kenan Institute every day not knowing what was inside. After getting involved with the Institute as a Leadership Fellow, I have been exposed to many different facets of the organization, as well as improved various skill sets that will ultimately help when entering into the ever frightening job market.

The Kenan Institute has a large focus on applied business research and forging strong networks between business leaders across the globe. I have had the privilege of attending two luncheons over the past semester. The first was at the “Food for Thought” lunch and learn with Kenan Trustee John McNairy, owner of Harvey enterprises. John shared many great insights into the world of business that relate to all of our undergraduate careers. He told us that an MBA should actually be called a MWA (Masters of Walking Around) because of the importance of applied knowledge when going into an MBA program. When you are in classes, whether they are finance or marketing, you should try to find a way to apply the knowledge to the real world of business. Also, after talking with Mr. McNairy I was given a different perspective of the “MBA.” While an MBA is wonderful in that it gives you applied knowledge and real world scenarios, it is essentially going to be valueless unless you have experience in a work setting. If you go onto any top tier MBA program websites, you will see the average work experience is between 5 and 10 years. The programs know that their degree will offer more to all of us if we have experience that we can bring in to the classroom. So I urge you — before immediately paying hundreds of dollars and sending out countless MBA applications your senior year — to think about what you want to do with your life and if the direct MBA path is right for you.

Emerging market supply chains are evolving from low-cost labor sources to value-added, strategic resources. Boeing, the world’s largest aerospace company, recently turned to UNC Kenan-Flagler Business School to help research supply chain issues in emerging markets. In a 2007 presentation at UNC Kenan-Flagler, Boeing Vice President Jim Brunke said that one of Boeing’s key challenges is “creating the industry’s most advanced distribution network.” Sponsored by Boeing and in collaboration with the Kenan Institute’s Center for Logistics and Digital Strategy, UNC Kenan-Flagler’s Global Supply Chain Management Club selected five MBA students to conduct ground-breaking research on supply chain issues in emerging markets.

Opportunity! According to Vice Admiral John Ryan USN (RET.), this is exactly what today’s V.U.C.A. world provides us, the community and organizational leaders of tomorrow. V.U.C.A., in case you were wondering, stands for Volatility, Uncertainty, Complexity, and Ambiguity. At this point, you may be wondering how such a tumultuous environment can lend itself to opportunistic potential, and the beauty of Vice Admiral Ryan’s answer to this question lies in its simplistic foundation – authenticity.

As a member of the Kenan-Flagler Veterans club and a Kenan Institute Leadership Fellow, I had the opportunity and honor to attend a lunchtime discussion with Vice Admiral Ryan, a distinguished Naval Officer and current President and CEO of the Center for Creative Leadership. Like many exceptional leaders, his humble charisma and passion for molding young minds captivated his audience as he imparted five key leadership elements for driving success in a V.U.C.A world. Collaboration, creativity, communication, a growth mindset, and judgment are the keys to success. He spoke energetically about these tools, each valid in its own right, but for me the true inspiration he imparted was rooted in the foundation of his leadership framework – remaining authentic.

As a Kenan Institute Leadership Fellow we have a unique opportunity to interface with several high profile and very experienced individuals in the business community. Some of these folks are guest speakers with a connection to the school while others are more intimately involved as, for example, a trustee of the Kenan Institute.

Last year, the Leadership Fellows class before me started a lunch time series entitled Food For Thought, which is branded as:

The Food for Thought lunchtime series is a low pressure, high impact opportunity for the Trustees of the Kenan Institute to speak directly to the Kenan Institute Leadership Fellows in a relaxed environment. The trustees can share life lessons from their seasoned career to students just beginning theirs. This unique opportunity provides rich dialogue in an intimate setting for a select group highlighting a two way conversation rather than a one way speech. The series was initiated by the Kenan Institute Leadership Fellows class of 2010.

I wrote that, so I hope you like it.

I joined the Kenan Institute as a summer intern through the Kenan Institute Economic Development Analyst (KEIDA) program in 2010. Soon after joining the KEIDA summer program I was assigned to assist the STEM (Science Engineering Technology and Math) initiative in Lenoir County. The project involved developing a business plan document for STEM East organization. The project required extensive research to effectively develop a comprehensive plan for STEM East. The goal of the STEM East initiative is to assist local leaders enhance the economic growth in Lenoir County. Andrea Hartman and I, under the supervision of Thomas Stith consulted for STEM East to deliver the business plan project for the STEM East organization.

The summer of 2010 was indeed a remarkable time in the history of Lenoir County as STEM East was officially inaugurated. To mark the major achievement in the history of STEM education in Lenoir County , July 8, 2010, the date of completion of the draft business plan, was declared as “STEM Day,” where stakeholders gathered to celebrate STEM East.

I enjoyed the opportunity to meet the new MBA students and speak to them during orientation this summer. Since I continue to receive inquiries from the MBAs, asking about my Kenan Institute experience, I thought I would jot something down.

I first became aware of the opportunities available at the Kenan Institute when I applied for the Thailand Recovery Action Initiative (TRAI) internship. Even though the internship didn’t align with my long term goals, I was impressed by the many opportunities and resources provided by the Institute. After a lengthy discussion with the Director of Outreach, Lingmei Howell, I applied and was selected to be a Kenan Institute Leadership Fellow.

As the sun begins to set on my MBA career, it’s time for me to capture on paper where I was when I arrived, where I’m headed when I leave, and the path I followed. Prior to my arrival in Chapel Hill, I had spent eight years in the U.S. Army and almost three of those years deployed to Kosovo and Iraq. I had no idea what finance or supply chain management were. Now that I’m close to graduating, I can’t claim to be an expert in either of those subjects but I can certainly say that my interaction with the Kenan Institute has provided me some fantastic opportunities to observe and apply business school concepts in the real world!

Working with the Kenan Institute as a Kenan Institute Leadership Fellow has been a rewarding and eye-opening experience in two primary ways. First, it has been incredibly inspiring to see how far reaching one man’s legacy and impact can be. Frank Hawkins Kenan gave a large part of his estate and legacy to education and we, as students at Kenan-Flagler, have reaped the rewards through our exposure to leaders, such as Muhammad Yunus, project-learning opportunities and internships, and learning about business in Africa and Brazil. Mr. Kenan knew that which he was passionate about and established an institute that would promote education and research in business for years to come.