Alumni Reunion

41 Pages·2004·1.96 MB·English

s u m m e r 2 0 0 4
A L U M N I M A G A Z I N E
Alumni Reunion
Connections that
run deep
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A New Tradition: The Wharton International Cultural Show took place on April
22 and 23 at the Annenberg Center. Already in its fourth year, the show is pro-
duced entirely by students and demonstrates the rich diversity of international
cultures at Wharton.
Save the Date
SEPTEMBER 2004
SEPTEMBER 23
Wharton Leadership Lecture: David Barger, President, Jet Blue Airlines
Time: 4:30 p.m.; Location: Philadelphia
SEPTEMBER 30
Wharton Leadership Lecture: Richard D. Fairbank, Chairman and CEO, Capital One
Location: Philadelphia
SEPTEMBER 30
Delivering Profits in the Global Economy
Sponsored by the Wharton/INSEAD Alliance
Location: London
OCTOBER 2004
OCTOBER 1
Student Conference: Consulting
OCTOBER 7
Wharton Leadership Lecture: Glenn Renwick, President and CEO, Progressive
Time: 4:30 p.m.; Location: Philadelphia
OCTOBER 13
Wharton Leadership Lecture: David Pottruck, CEO, Charles Schwab
Time: 4:30 p.m.; Location: Philadelphia
OCTOBER 15
Student Conference: Marketing
OCTOBER 28
DI Wharton Leadership Lecture: Linda LoRe, President and CEO, Frederick’s of Hollywood
AR Time: 4:30 p.m.; Location: Philadelphia
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M Student Conference: Investment Management
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R P For more information and updates on Wharton events,
VE visit <www.wharton.upenn.edu/whartonfacts/news_and_events/calendar/>.
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Summer 2004
A L U M N I M A G A Z I N E
Features
Connections That Run Deep 12
Anyone who attends Alumni Reunion knows:
10
there’s nothing like seeing a friend in person.
Friendships —
old and new.
The Value of Experience 20
Wharton’s Global Consulting Practicum has given
students real-world experience for 25 years.
You Are What You Buy 24
Wharton’s Lisa Bolton investigates the connections
between identity, judgment, and consumer behavior.
Departments
20
Wharton Now 2
Learning
MBA Class Gifts Set Participation Records
on the job.
Global Alumni Forums
Recent Alumni Books
Knowledge@Wharton 28
A New Strategy for Venture Investors: Hedge
Next Up at Wharton School Publishing 30
The Fortune at the Bottom of the Pyramid: Eradicating
Poverty through Profits, by CK Prahalad
Alumni Association Update 34
Events, announcements, and club presidents directory
Global Wharton Connections 38
24
Alumni Resources
Brand loyalty is a
matter of identity. Class Notes 39
Leadership Spotlight 81
Andrew Heller, WG’79
Wharton Now
MBA Class Gifts el of participation achieved
by this class is an inspiration
Set New Records
to all Wharton Alumni.”
Amid tough economic
MBA Reunion
times, the Wharton MBA
class of 2004 raised a to-
Weekend
tal class gift of $776,690
while setting new records Launches New
for class gift participation.
Alumni Programs
Combined participation
of the East and West coast
Veteran alumni now have a
MBA for Executives classes
network of their own. The
and the traditional MBA
Z Wharton Emeritus Society,
E class was 98.3 percent.
R
AMI The graduating East one of two new alumni
R programs launched during
E coast and West coast MBA
URIC for Executives classes had an 2004 Alumni Weekend, will
MA unprecedented 100 percent help create a formal network
and content-based programs
participation in raising a
of interest for graduates
total of $327,772, including
of 50 or more years. The
challenge gifts from Beth W.
second new program, MBA
Nelson, WG’82. In honor
Alumni March (depicted
of the participation record,
on this issue’s cover), invites
Ms. Nelson offered an ad-
reunion-year alumni to don
ditional gift to bring the com-
cap and gown and process
bined (East and West coast)
onto Franklin Field, usher-
Wharton MBA for Executives
ing new graduates into the
class gift total to $350,000.
world of Wharton alumni.
Following a record-
For more information on
breaking year in 2003, the
Alumni Weekend events,
MBA class of 2004 set its
visit <www.wharton.
own record with the high-
upenn.edu/ alumni
est-ever number of Wharton
reunion/2004index.html>.
class gift donors: 764.
Class participation was 95
percent, with 97 percent Meeting the
participation of interna-
World: Wharton
tional students. The total
gift raised was $426,690, Global Alumni
including $50,000 from an
anonymous challenge donor. Forums
Associate Dean for
External Affairs Steven Mexico’s economic growth
Oliveira stated, “The toward globalization and the
RDI Wharton MBA Class of future of Latin American
A
ON 2004 has made the larg- markets were among the
E
Y L est graduating class gift in dozens of panel discussions
MM the history of any business and speeches by government
O
T school. We believe that this and corporate luminar-
TOP: MBA FOR EXECUTIVES - WEST may also be the largest gradu- ies, including Fernando
MIDDLE: MBA FOR EXECUTIVES - EAST ating class gift in the history Canales Clariond, Mexico’s
of higher education. The lev- Economy Secretary, at
BOTTOM: MBA CLASS GIFT COMMITTEE
Wharton’s Global Alumni
2.SUMMER 2 00 4. WHA RTON NOW
Forum held on June 24-26 May, the Moscow Global innovations are being added: riential learning opportunity,
in Mexico City. The event, Alumni Forum addressed a business simulation ad- that is, something outside of
the last of three Wharton issues including emerging dition to the core market- the traditional lecture/media
Global Alumni Forums consumer markets and fi- ing course, a research pilot mode,” Kahn says.
held this summer, offered nancing investment globally program, and a firm-specific The new research pilot
alumni the chance to net- at a sold-out gathering the consulting project. The new program pairs a student
work and learn with top Moscow Times called “the programs are outcomes of one-on-one with a faculty
corporate and government first example in Russia of an Wharton’s recently completed member in a semester-long
leaders who are impact- international school putting curriculum review. research program. The “field
ing the business climate on a large, publicized event Widely recognized as the challenge” program, to be
of Latin America. Topics ...” Wharton’s presence was best undergraduate busi- piloted this fall, will take
included globalization strat- everywhere at the Shanghai ness program, Wharton’s teams of undergraduates
egy, the Hispanic market, Global Forum, held June curriculum blends liberal out into the business world.
energy, and pensions and 3-6, where welcome signs arts with core business con- Working with a faculty ad-
growth. Juan Toro, the tax hung the airport walls cepts, a combination that visor, the teams will come
commissioner of Chile, and on city buses while a gives students a wider un- up with solutions for indi-
Eduardo Wanick, CEO of Wharton-emblazoned blimp derstanding of the social vidual businesses.
DuPont Latin America and flew over the city. and cultural issues today’s “Wharton undergrads
Alfredo Elias Ayub, CEO The sold-out Shanghai businesses face. The recent are an incredibly bright
of the Federal Electricity event brought together busi- curriculum review looked and talented group. They
Commission were among ness and government leaders at ways to improve this are very eager and work
the roster of speakers. including Philip Murtaugh, undergraduate experience, very hard,” says Kahn, who
The Wharton Global chairman and CEO of GM bringing together two com- became the division’s vice
Alumni Forums are orga- China and Zhang Ruimin, mittees, an external one dean in 2003 and teaches
nized by alumni with the chairman of the Haier that consisted of deans from Introduction to Marketing
help of the School. In late Group, to discuss China’s Harvard, Princeton, and the to between 400 and 500
unique banking system and University of Michigan, and students each semester it
foreign direct investment, an internal task force that is offered. “They are here
KAHN
among other topics. During brought together nine fac- for a longer period of time
the Shanghai event, the ulty members from a variety than the MBAs, so you
School also presented its of Wharton departments, to can have more of a person-
highest honor—the Dean’s make recommendations. al relationship with them.
Medal—to K.P. Chao, Barbara E. Kahn, vice It’s a really nice opportu-
chairman of the board of dean and director of the nity to work with them.
Novel Enterprises Ltd., for Undergraduate Division You feel like you can really
his exceptional leadership in and the Dorothy Silberberg make a difference.”
advancing global business. Professor of Marketing, says
For more informa- these curricular additions
Knowledge @
tion on the Global strengthen and enliven the
Alumni Forums, visit School’s already ambitious Wharton to
<www.wharton.upenn. offerings. The business
Introduce Chinese
edu/alumni/forums>. simulation component to
the core undergraduate mar- Language Edition
keting course, for instance,
New Innovations
will bring undergraduates Few would deny that
to Undergraduate into teams that will manage China is hot. Companies
a firm, making key market- within China and around
Curriculum
ing strategy decisions. the world are searching
“One of things we think for credible answers about
In fall 2004, Wharton under-
differentiates the Wharton how to do business in this
grads will have new opportu-
ON undergraduate learning ex- must-play country, and
S nities to experience business
OL perience from other kinds of Knowledge@Wharton will
R in practice. Three curricular
TE learning would be this expe- soon provide the knowl-
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P
WH ARTON NOW .W HARTON ALUMNI MAGAZINE. 3
edge they need. Wharton’s really real. Then there’s Meets Practice,” the event their venture, and at least
online business analysis a great hunger in China drew alumni from both one with decades of experi-
and research journal will too about business in the coasts to hear speakers such ence – offered a portrait
launch a Chinese version West, and for them, hav- as John Dean, WG’74, for- of the entrepreneur that
in early 2005, adding to ing access to a place like mer CEO of Silicon Valley seldom makes it onto the
its English, Spanish and Wharton is crucial.” Bancshares, Jim McElwee, cover of Business Week: The
Portugese versions. As well, Wharton alumnus Hal WG’76, general partner of entrepreneur as mensch.
Knowledge@Wharton and Sirkin, W’80, a senior vice Weston Presidio, Michael Panelists emphasized less
The Boston Consulting president at BCG and leader Mortiz, WG’78, partner the solitary aspects of the
Group have partnered of the firm’s Operations at Sequoia Capital, and entrepreneurial life than the
to create four special re- Practice, says that for many Ted Schlein, C’86, general social ones. Forget genius,
ports on China, the first companies, China has risen partner of Kleiner, Perkins, they said; what really counts
of which, “China and the to the top of the manage- Caufield & Byers. most is building a strong
New Rules for Business,” ment agenda. “In many network to turn to for help
is now available on the industries today, operating and advice, treating people
Lauder Alumni
Knowledge@Wharton web- in China is no longer just with dignity, and serving
site in both Chinese and an option to consider — it’s and Business your customers well.
English <http://knowledge. an imperative if they are to Chaired by Lauder
Leaders Gather
wharton.upenn.edu>. remain competitive,” Sirkin Institute governor Edgar
The Chinese version of says. “Yet many questions for Global Bronfman Jr., the chairman
Knowledge@Wharton will and risks remain.” and CEO of Warner Music
target management leaders The Chinese version of Business Forum Group, the panel featured
in China as well as Chinese- Knowledge@Wharton will Tom Bendheim, the CEO
reading populations world- be funded by a combination Most images of entrepre- of Rheingold Brewing Co.;
wide with a mix of tailored of corporate sponsorships neurship tend to focus on George Bennett, the chair-
and existing content. The and donations from alumni, the vision and guts involved man and CEO of Health
project, a year in the making, parents of existing students in getting ventures off the Dialog; Luis Gonzales, COO
came together when both and friends of the School. ground. But at a recent pan- and founder of Vidalink,
Dean Patrick Harker and It comes on the heels of el discussion at the inaugu- a Brazilian pharmaceutical
Boston Consulting Group the fifth anniversary of ral Lauder Institute Alumni supply company; Charles
officials, led by a Wharton Knowledge@Wharton, Association Global Business Rashall, president and
alum, expressed a simulta- which now has more than Forum in New York, a founder of brandadvisors;
neous interest in creating 350,000 subscribers in group of entrepreneurs and Diane Ty, chairman and
real-world, online communi- 189 countries. – some just a few years into co-founder of YouthNOISE.
cations vehicles to tackle the
opportunities and challenges
Tech Leaders JOHN BUGGIE, WG’92; DICK PARSONS; LEONARD LAUDER, W’54
of operating in China.
“Our original strategy is Speak on VC
to have a two-fold engage-
at Inaugural
ment,” explains Mukul
Pandya, editor and director Wharton West
of Knowledge@Wharton.
“On one hand, there’s a Conference
huge hunger for informa-
tion about how to do The state of venture capital
business in China among was one of the many topics
Western executives. All addressed at Wharton West’s
they have been getting is a first venture capital confer-
lot of hype, or horror sto- ence, held May 11 in San
ries. Our opportunity is to Francisco and organized by
tell stories for the benefit Professors Andrew Metrick
of a Western world that and Chris Geczy. Called
wants to figure out what’s “Venture Capital: Theory
4 .SUMMER 2 004 . WHARTON NOW
The Global Business type in the world, with de Balboa, in April. The Ron Wilson, WG’95
Forum was held in April at more than 220 programs award is conferred to citi- and Brian LeGette, WG’95,
the Metropolitan Club in for 8,000 to 10,000 execu- zens of the Republic who were featured in an article
New York City and was at- tives annually. He was in- have made outstanding about their company,
tended by more than 300 strumental in founding the contributions to the country EntreQuest, producers of
Lauder/Wharton alumni. Directors’ Institute in 1993, over the years. performance wear merchan-
In addition to the partici- the Wharton Electronic Peter Murphy, WG’88, dise (Baltimore Sun, 4/6/04).
pants noted above, over 30 Commerce Forum in 1996, was featured in an article Jay I. Kislak, W’43, was
industry leaders served as and Knowledge@Wharton about his career as senior featured in an article about
keynote speakers and pan- in 1999. During 1996- executive vice president his gift of 4,000 artifacts of
elists, including Leonard 99, he headed Wharton’s and chief strategic officer of early America to the Library
Lauder, W’54, CEO of Estee external affairs division, the Walt Disney Company of Congress (Washington
Lauder; Dick Parsons, CEO including fund raising, (Daily Variety, 4/2/04). Post, 4/7/04).
of Time Warner; A.G. Lafley, public relations, communi-
CEO of Procter & Gamble; cations and alumni affairs
Sir Martin Sorrell, CEO functions. He also led the
of WPP; Paul Fribourg, startup of Wharton West as
CEO of ContiGroup; Shiv the initiative’s interim vice
Khemka, WG’90, G’90, dean during 2000-2001.
Upcoming Patagonia Alumni
CEO of Sun Group; and While at Wharton, he also
Richard Haass, president served as associate director Leadership Venture; January 7 –
of the Council on Foreign or director of a number of
16, 2005 (Includes flying time
Relations. To read more programs including: the
about the Business Forum Leonard Davis Institute from the U.S.)
(including coverage from of Health Economics;
Knowledge@Wharton), visit the National Health Care In January 2005, the Wharton Leadership Ventures
<www.lauderalumni.com>. Management Center; the will offer its first Venture to South America for
Wharton Applied Research alumni. This trip takes participants into the heart
Robert E. Center; and the Wharton of Patagonia to the famous “Torres Del Paine.” Led
Innovation Center. by Professor Mike Useem, Director of the Center
Mittelstaedt: 13 Dean Patrick Harker for Leadership and Change Management, and un-
said, “I am deeply grateful der the expert guidance of Vertical SA’s world-class
Years as Vice
to Bob for his outstand- mountaineering team, the Venture will provide a set
Dean of Executive ing work at Wharton. His of engaged, hands-on experiences for exploring and
appointment to the W.P. mastering the capabilities for effective individual and
Education Carey deanship is much team leadership in business and beyond. Participants
deserved recognition of his will have the opportunity to improve their capacities
Robert E. Mittelstaedt has abilities as a leader and his to think strategically, communicate effectively, and
resigned from his position commitment to business act decisively.
as vice dean of the Wharton education. We wish him the This week long program begins the afternoon of
School’s executive education very best of success in his January 8, 2004 in Punta Arenas, Chile. Participants
division, a role he has held new position.” will spend the week trekking in the Torres Del Paine
for 13 years. Mittelstaedt
National Park alternating between lodges and camp-
left his post to become dean
Newsmakers ing. A key highlight of the trip will be an afternoon of
of the W.P. Carey School of
walking and ice-climbing on Grey Glacier. It prom-
Business at Arizona State
Joseph E. Harari, ises to be a challenging and invigorating program at
University, effective July 1.
PAR’90, member of the once fostering an environment for further leadership
During his tenure at
School’s Executive Board development as well as providing the opportunity for
Wharton, Mittelstaedt was
for Latin America, was alumni to reconnect.
responsible for building the
awarded (along with his Enrollment opened on July 1, 2004. For fur-
Aresty Institute of Executive
three brothers) Panama’s ther information and to enroll please e-mail Aldo
Education into one of the
highest civilian honor, Boitano at [email protected] or Penny Bamber at
largest organizations of its
The Order of Vasco Nunez [email protected].
WH ARTON NOW .W HARTON ALUMNI MAGAZINE. 5
William Lauder, W’83, pointed to senior vice presi- Robert B. Goergen, UK, a Japanese clothing re-
has been named CEO of dent of finance and CFO WG’62, Wharton Over- tailer (Retail Week, 3/19/04).
Estee Lauder Companies of Coley Pharmaceutical seer, authored an article in Michael Steinhardt,
(Wall Street Journal, 4/23/04). Group, Inc. (Health & the Executive Life Column W’60, was featured
Angelo Koo, WG’93, Medicine Week, 4/26/04). about his career and role in an article about his
member of the School’s Steven Zwiener, as chairman and CEO success as a hedge-fund
Executive Board for Asia, WG’89, was featured in of Blyth, Inc. (New York manager (Investor’s Business
was featured in an article an article about Wolfgang’s, Times, 3/14/04) Daily, 3/24/04).
abut his career at China his family-owned Manha- Tarun Tahiliani, W’84, Kelly Wallace, W’87,
Trust Financial Holding ttan restaurant (New York was featured in an article currently with CNN, served
Company, and his manage- Times, 4/28/04). about his international rep- on a panel of national cor-
ment and leadership skills Kim Saunders, W’82, utation as a leading couture respondents to lead discus-
(Tapei Times, 4/23/03). has been appointed pres- fashion designer in India sions on the September
Donna S. Morea, ident of Consolidated (The Hindu, 3/18/04) 11th attacks (CNN: On the
WG’80, was featured in an Bank & Trust (Black Peter M. Kendall, Story, 3/27/04). ◆
article about her career as ex- Enterprise, 3/1/04). WG’70, was featured in
ecutive vice president of the Zane Tankel, W’62, an article about his suc- For more news, visit
public sector group for was featured in an article cess as CEO of Coors <www. wharton.upenn.
American Management about his success in the Brewers, Ltd. (The London edu>.
Systems (Washington ownership of 21 Applebee’s Times, 3/18/04).
Post, 4/26/04). franchise restaurants in Masayuki Nagatake,
Charles Abdalian, New York City (New York WG’97, has been named
WG’77, has been ap- Times, 3/10/04). managing director of Uniglo
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Recent Alumni Books
Throw Me the Bottom Marketing to the
Line . . . I’m Drowning Campus Crowd
in E-mail! Bob’s Rules
for Managing the By David A. Morrison,
E-mail Crisis WG’99
Dearborn Trade
By John S. Fieldon, Publishing (2004)
W’45, PhD, Jean D.
Gibbons, PhD and “David Morrison has
Ronald E. Dulek, PhD discovered the Fountain
Pioneer River Press of Youth. Marketing to
(2003) the Campus Crowd is an
all-encompassing-brilliant-
“I highly recommend review of what to do and,
this little book to anyone always more importantly,
aspiring to advance their what never to do.”
career. The authors offer - Rich Appel, Director of
many practical ideas for Market Research, Sony
influencing others using Music Entertainment
certain simple communi-
cation principles.”
- Arthur C. Neilson, Jr.,
Chairman Emeritus,
A.C. Nielson Co.
A Soldier and IBM Organizing for Profit
Machines in World in China: A Case
War II Study Approach
By John J. DiMino, By David S. Wu, WG’82
WEV’53 iUniverse (2003)
The Historical Society
of Montgomery County “David S. Wu has written a
(2001) terrific book on doing busi-
ness in China. Don’t miss
“DiMino’s book . . . this guide into the land of
provides an excellent the world’s first capitalists.”
introduction to the spe- - Dr. Bob Rosen, CEO
cialized wartime mobile of Healthy Companies
record units.” International, author
- Keith Phucas, of Global Literacies
The Times Herald
WH ARTON NOW .W HARTON ALUMNI MAGAZINE. 7
Brainy Winners: 2004 Business Plan Competition
REPRINTED FROM THE GET IT STARTED NEWSLETTER < WWW.WEP.WHARTON.UPENN.EDU >
Health science trumped the Internet “For the purpose of raising funds, Naik had worked at Medtronic, a
— and everything else — at the 2004 this is extraordinary PR,” said Minnesota medical-device maker be-
Venture Fair, the culmination of the InfraScan founder Baruch Ben Dor, an fore coming to Wharton. Thanks to his
2003-2004 Wharton Business Plan Israel-trained physicist who moved to background, he quickly sensed the
Competition. The grand prize went to Philadelphia in hopes of launching an HematoScope’s potential.
InfraScan, which has created a device entrepreneurial venture. “My problem “I asked Baruch tons of questions.
to detect brain bleeding; the second was getting through the first five sec- And the more I questioned him, the
prize went to CelfCure, which would onds with a venture capitalist. Winning more I realized that the technology is
treat neurological ailments with trans- the Business Plan Competition gives me very simple and low cost. It’s mobile,
planted stem cells; and third place the first five minutes of his attention.” too. And I found out there’s a huge un-
went to BioSpectrum, which aims “Nearly 200 student teams par- met need.”
to improve the way pharmaceutical ticipated in this year’s competition,” Naik, with Banerjee’s assistance,
companies screen for potential drugs. said Emily Cieri, managing director of wrote the business plan and delivered
Distributed Resource Imagery, a com- Wharton Entrepreneurial Programs, the team’s 10-minute presentation at
puter animation company, won the which co-manages the event with a the Venture Fair. After that, the compe-
Frederick H. Gloeckner Award as the student team. “We touched over 700 tition’s panel of eight judges — inves-
best Wharton undergraduate team. students across campus, whether tors, entrepreneurs and a journalist
they competed or just attended our — peppered him and Ben Dor with
workshops. We had submissions from questions for 10 more minutes.
10 of the 12 professional schools “This is not just a concept,” Naik
across campus.” Any team that in- said during his talk. “We have a work-
cludes a University of Pennsylvania ing prototype and have conducted
student can participate. human clinical trials on 305 patients.”
InfraScan’s entry was built on its He argued that the HematoScope could
HematoScope. The handheld device help reduce health care costs by elimi-
would let emergency room physicians nating unnecessary scans on expen-
and emergency medical technicians sive-to-operate CT and MRI machines.
do quick scans of people with head InfraScan’s scanner grew out of a
BEN DOR; NAIK, WG’04
; trauma to determine the extent of their patent on research by Britton Chance,
AND BANERJEE, WG’05
injuries. About the size of a personal an emeritus professor of biophysics,
PHIL LEFF
digital assistant, it could help hospi- biochemistry and radiology at Penn.
As the winners, InfraScan’s team
tals, especially those in the developing Chance is something of a legend within
members — two Wharton MBA stu-
world, more efficiently use scarce CT his field and at the University. Though
dents and an Israeli physicist — col-
scanners and MRIs. A patient would be 91 years old, he still does research,
lected $20,000, entry into Wharton’s
sent for a CT or MRI scan only if the traveling to his on-campus lab by bi-
Venture Initiation Program and a chance
HematoScope detected brain bleeding. cycle. In 1952, he won an Olympic gold
to present their business plan at the
Ben Dor met his teammates — medal in sailing as part of a three-man
Global Start-up @ Singapore competi-
Sandeep Naik, WG’04, and Samonnoi team in the 5.5 meter class.
tion (Co-organized by INSEAD and
Banerjee, WG’05 — through a posting Ben Dor, a former Israeli Air Force
the National University of Singapore
he placed on a Wharton web site. He captain, was familiar with Chance’s
Entrepreneurship Center). CelfCure
sought help with his business plan and research and sought him out. Chance
received $10,000, and BioSpectrum,
investor presentation. Naik responded, decided to hire Ben Dor as chief execu-
$5,000. All three teams also will re-
suggested they enter the competition, tive of a dormant company he’d created
ceive $10,000 worth of combined legal
and enlisted Banerjee. called NIM, which stands for noninva-
and accounting services.
8 .SUMMER 2004. WHARTON NOW