Reflections on Winning The Total Impact Portfolio Challenge

This post was written by Alyssa Stankiewicz ’19, and co-written by Andrew Mallory ’19

EDITOR’S NOTE: A team of five students from The Sustainable Innovation MBA program recently took first place in the Wharton-sponsored Total Impact Portfolio Challenge, beating a field of finalists from Yale, Columbia, Fordham, and Boston University. Read more here.

When I came to this program in August 2018, I had never even heard the term “impact investing.” I planned to focus my learnings on innovations in social justice and sustainable agriculture. I dreamed of founding a self-sustaining weaving center that provided support and reflection to folks through art therapy. While this is still an eventual dream of mine (stay tuned!), I realized that what really motivated me about this dream was the opportunity to help people.

The mission of The Sustainable Innovation MBA program is using business as a force for good in the world, also described as “doing well by doing good.”  Through the mentorship and encouragement I received from Dr. Chuck Schnitzlein, I began to realize that not only does the world of Finance provide this same opportunity, but I possess a natural knack for the work involved. He presented us with two extracurricular opportunities to test and demonstrate our skills and studies. The first project revolved around developing an impact strategy for the UVM Endowment (for more on that, see this article), and the second was a Wharton-sponsored impact investing competition called the Total Impact Portfolio Challenge.

The competition was stacked, to say the least. 26 teams from 19 business schools including Yale, Columbia, Booth (Chicago), and Wharton (Penn) entered the competition, and with this being just the 5th cohort of our Sustainable Innovation MBA program, our team was ecstatic to find out in March that we’d been selected as Finalists. We had spent months taking extra classes with Dr. Schnitzlein in Portfolio Management and Evaluation, researching the companies who achieved “best in class” accolades, and developing our investment philosophy and strategy in our copious free time (“copious” might be an exaggeration). When they announced we won at the live competition in Philadelphia on May 1, we were completely over the moon.

We like to think that we had a competitive advantage because each of our professors integrates sustainability holistically into every single course. We learned about Entrepreneurial Business Design, Systems Thinking, and Cost Models from a sustainability perspective, so we were more fully prepared to incorporate sustainability into every piece of our portfolio.

The Total Impact Portfolio Challenge provided us with two fictitious investor profiles from which to choose, and our team selected a Family Office who wanted to achieve multi-generational wealth and sustainable impact in line with five themes, which we matched to the UN Sustainable Development Goals (SDGs). Our team took a unique and bold approach: we successfully invested the entire portfolio in companies and funds that are going beyond minimizing the bad; instead, each of our investments contributes to developing solutions for the greater good. We highlighted the innovations of Mary Powell at Green Mountain Power and the Reinvestment Fund’s success in the City Mission Project. We developed methods for measuring impact and adapted our findings to the unique characteristics of the various asset classes. Peter Seltzer even coined the SI-MBA Score, which goes beyond traditional ESG scoring systems to incorporate materiality. This is because, as we learned in our Strategic Corporate Social Responsibility course (and which was affirmed in this study written by Khan, Serafeim, & Yoon), companies that focus on the sustainability issues that are most material to their business actually see improved financial performance over the long term.

Where do we go from here?

I personally want to find ways to help accredited and non-accredited investors deploy their finances in ways that are more meaningful to them. I have a passion for efforts to democratize investment opportunities, and I’m working on an idea that incorporates my Linguistics background with my Finance interests to create a more effective system for financial literacy education. I look forward to exploring opportunities in place-based investing and community funding models as avenues to strengthen the resilience of local economies. Find me on LinkedIn!

Photo credit: Chris Kendig

Emily came to The Sustainable Innovation MBA program passionate about opening up venture capital investment to women and other underrepresented founders. Through projects studying everything from community capital initiatives to equity crowdfunding policy to this challenge on integrating materiality into ESG scores, she sees increasing opportunities to promote a more sustainable form of capitalism for investors and entrepreneurs. After the program, she is seeking a career in impact investing and hopes her involvement can promote responsible investment opportunities in the industry.

For Andrew, this challenge was a perfect blend of his two professional passions: finance and sustainability. Coming from a traditional finance background, he sees how important it is for impact investing and ESG integration to continue to evolve and grow, and he is encouraged by how many financial institutions are now incorporating ESG into their strategies. After graduation, Andrew is interested in pursuing public and private equity research, specifically analyzing companies who are embedding sustainability initiatives into their core operations to see how impact alpha can mitigate risk and provide long-term growth.

 Peter came to the program as a CPA with ten years of experience. Throughout his career, he has gravitated towards opportunities to support social causes, including serving on the boards of two non-profits and working for three years at The Food Trust, a Philadelphia based non-profit. While here, he discovered a passion for the Sustainable Accounting Standards Board (SASB) and began a certificate program in the fundamentals of sustainable accounting. The group utilized his research in developing the SI-MBA Score, which was a differentiating factor in our presentation. After graduation, he is pursuing opportunities where he can incorporate his SASB knowledge to help investors generate greater impact with their investments.

Maura, coming from the client services and business development side of the investment industry, saw the demand for responsible investment solutions from young investors and European clients. She hopes to use the skills developed during her SI-MBA experience and her involvement in the Total Impact Portfolio Challenge to re-enter the field and meet the needs and wants of the industry demand. Planting roots in Vermont, she looks forward to growing the responsible investing industry presence in the state.

We had great support from all of our classmates, but special acknowledgement (in no particular order) goes out to Andrew Oliveri, Alyssa Schuetz, Ryan Forman, Elissa Eggers, Caitlyn Kenney, Esteban Echeverría Fernández, Alexa Steiner, Emily Foster, Jeffrey Lue, Matt Iacobucci, and Keil Corey. In the spirit of The Sustainable Innovation MBA, this was truly a collaborative effort, and I believe that’s what ultimately gave us the competitive advantage. I’m personally looking forward to seeing where we go from here, and I wish good luck to next year’s cohort!

For other publications on this challenge and our approach, please see the initial post in the SI-MBA Review, as well as articles in CNBC, UVM, Poets & Quants, Forbes, and the Wharton Social Impact Initiative.

Breaking News: Sustainable Innovation MBA Team Wins Wharton’s Total Impact Portfolio Challenge

A team of Sustainable Innovation MBA students has emerged from an elite group of finalists as the winners of the Total Impact Portfolio Challenge, sponsored by the Wharton School of Business at the University of Pennsylvania. The team was comprised of Class of 2019 students Alyssa Stankiewicz, Pete Seltzer, Emily Klein, Maura Kalil, and Andrew Mallory. Their faculty advisor and coach was Prof. Chuck Schnitzlein.

More: Read CNBC’s coverage of the Challenge, featuring our team

The Total Impact Portfolio Challenge involved creating and analyzing a portfolio that met risk, return and ESG (Environmental, Social, and Governance) impact investing objectives. The team presented their work in Philadelphia on May 1 and 2.

The other finalists in the competition included Yale, Columbia, Fordham, and Boston University. Our group was named one of the “Final Five” back in late-March from an strong field of 25 teams that included entrants from the University of Chicago, Cornell, Georgetown, NYU, Wharton, MIT, and Northwestern.

This is a significant accomplishment, and an important milestone in the history of The Sustainable Innovation MBA program.

Beginning third from left, Emily Klein, Alyssa Stankewicz, Andrew Mallory, Maura Kalil, and Peter Setzer.

The Future of Sustainability is Female

This post was written by Emily Klein ’19

EDITOR’S NOTE: The MBA Women for Change, a student-founded and managed group, is about to conclude its first year of existence, and scored a number of significant accomplishments in 2018-2019 aimed at bringing the issue of gender equality in the workplace to the forefront.

As a woman in my mid-twenties, I am constantly thinking about my future—crafting my next move, creating my career path, and navigating the opportunity costs of personal and professional decisions. My decision to attend business school solidified my personal statement of purpose: I am capable, confident, and powerful, and I will bring about meaningful change in the world. For me, business school was intimidating and, to be honest, sometimes I felt like an imposter; however, if there is one thing I’ll take away from the SIMBA program, it is  the idea that challenges bring about great opportunities.

We started the MBA Women for Change group to actively promote women in business leadership roles. Female leaders are and will be key drivers of sustainability efforts around the world; we see great opportunity in recognizing and capitalizing on the unique perspectives of women as we pursue sustainability and innovation in business.

MBA Women for Change has three goals in mind for our short year together: spurring deeper conversations around women in leadership and sustainability roles; organizing professional development opportunities; and building networks of support within the university and in the Vermont business community. In our first semester, we have accomplished quite a lot in pursuit of these goals:

Conversations around women in business: Serving as a support group and forum for women in the current cohort, Women for Change has encouraged discussions on topics ranging from Sheryl Sandberg’s “Lean In” to communication and confrontation. The group has also facilitated cohort-wide conversations around gender, identity, and leadership.

Professional development: Women for Change has hosted several professional development workshops, including a session on power and leadership in conjunction with the UVM Women’s Center, lunch with guest speaker Lori Smith on organizational wellbeing, and an interactive situations workshop with our own Alexa Steiner.

Outreach: Coordinating with the Alumni MBA Women’s Group and women on the SIMBA Advisory Board, Women for Change is working to create a more tight-knit SIMBA community of female leaders. Group members have also attended community networking events with Vermont Womenpreneurs, Vermont Women’s Fund, and the New England Women’s Investor Network, and have connected with local businesses such as Generator, a makerspace in Burlington.

In pursuit of these goals, we have sparked deeper discussions, forged stronger connections, and created a more supportive and inclusive learning space. Our hope is these conversations, interactions, and networks empower women to take the lead toward a more sustainable future. By growing the pipeline of female leaders in the sustainability space, UVM and others are effecting long-term change. As many before me have said: this is not a women’s issue, it’s a human issue.

They say to be the change you wish to see in the world. The MBA Women for Change group envisions a more sustainable and equitable future; our cumulative individual efforts power a driving force within our program and beyond to achieve this vision. For the twelve months we have together in the SIMBA program, we work to change the conversation around female MBA students and leaders.

Come August 2019, we will have a powerful network of women behind us as we move into corporations and create our own companies. From finance and marketing to supply chain and social responsibility, we are the leaders we wish to see in the world. I am proud to study alongside tenacious women and supportive men – together, the 41 of us are a force to be reckoned with.

Women for Change: A Lesson in Determination and Perseverance

This post was written by Lauren Masters, Emily Klein, Meryl Schneider, Caitlyn Kenney, Maggie Robinson, and Alyssa Schuetz of the Class of 2019

What started as an idea in September turned into the first formal public event hosted by The Sustainable Innovation MBA (SI-MBA) program’s Women for Change group. Seven months ago, Lauren Masters, a current student of the SI-MBA program said, “I think Holly Dowling would be a great speaker to catalyze and legitimize our group within UVM’s Grossman School of Business and the greater Burlington community.”

With this goal in mind, a group of six women combined their skills, experiences, and minimal free time to jumpstart a new endeavor. The event planning committee included current MBA students Emily Klein, Lauren Masters, Caitlyn Kenney, Alyssa Schuetz, Meryl Schneider, and Maggie Robinson. Little did they know the amount of grit, determination, and perseverance that would be needed to legitimize the Women for Change’s first event held for the Greater Burlington community.

Throughout this process, students learned valuable lessons on how to navigate the world of fundraising, legitimize a club on campus, and overcome challenges that arose in unexpected places. As time passed and checklists seemed to grow, the planning proved to be difficult as students juggled their full-time schedules. There were even moments when they questioned whether, or not they would be able to pull-off the event.  Ultimately, the cumulative shared values of the planning committee proved to be enough as the group banned together until the very end.

On March 21st, over 50 young professionals, business leaders, and SI-MBA students alike were able to see this event come to fruition. Henry Vogt, a SI-MBA student said, “I found the Holly Dowling event to be fun, exciting and inspiring. Not only was it a great networking opportunity, but it was also exciting and thought-provoking. When Holly presented it felt like she was speaking directly to members of the audience. She offered perspective and inspiration on how to be successful, depicted personal stories of how she persevered through adversity, and gave tips on how to live a more fulfilling life. Additionally, it was very impressive that this event was organized by a passionate group of women MBA students, who put in a massive amount of work to successfully fundraise and organize an excellent event.”

As the adrenaline wore off, this small group of women looked at this event as one of the many highs of their overall SI-MBA experience.  Grad student Lauren Masters adds, “We knew we were all working towards a bigger picture of empowering female leaders not only within our cohort but also the greater Burlington community area and beyond. We hope that some of the key insights gained from this event will stick with attendees throughout their careers.”

For more information on the specifics of this event, please check out the following article: Leaning In

MBA Women for Change Hosts Holly Dowling

This post was written by John Turner, Marketing & Media Relations Specialist at the Grossman School of Business.

In a recent study of women in the workplace by McKinsey & Company, the consulting group reported that while for the last four years, companies have reported that they are highly committed to gender diversity, that commitment has not translated into meaningful progress. Women continue to be vastly underrepresented at every level, and only about one in five senior leaders is a woman.

With that as the backdrop, the role and empowerment of women in the workplace was addressed by globally renowned leadership speaker Holly Dowling recently at a special event in Burlington.

Hosted by the MBA Women for Change, a student group of The Sustainable Innovation MBA program at the Grossman School of Business, and Westport Hospitality, guest speaker and change management and leadership expert Holly Dowling led a spirited conversation about women in leadership at the Courtyard Marriott in Burlington.

The event was the brainchild of the MBA Women for Change, a group started in the fall of 2018 to promote and advocate for gender issues in the workplace within The Sustainable Innovation MBA program.

The idea for the event gelled when a personal connection to Holly Dowling surfaced, and the group saw the opportunity to host an event that not only started a conversation around these issues, but was an appropriate way to widen the discussion out into the community, strengthen relationships with other organizations such as the Vermont Women’s Fund, as well as raise the profile and awareness of the program itself.

“Holly was a perfect speaker for us, having an aligned focus and goals of getting women into leadership as a conversation and she gave us this gift with her time and energy to be able to come here,” said organizing committee member Emily Klein ’19.

Meryl Schneider ’19, another committee member said,“it was great to be able to invite other women from all over the community, friends and family, and men, to this event to take part in something like this.”

The event also provided a platform to build bridges, extending the network and encouraging collaboration. Alyssa Schuetz ’19 noted, “it was great being able to establish relationships with other community groups like the Vermont Women’s Fund, the Burton’s women’s group as well as with our donors, to further connect and establish lines of communication.”

She continued, “We deliberately invited men and asked Holly to tailor the conversation so that it was inclusive to all genders, so everyone could get the benefit. Because we know that it’s not just the women who have to make a change, men are a huge part in this. We wanted to make it as open and accessible to as many people as possible.”

Emily continued, “I liked Holly’s message that companies are letting go of diversity and inclusion and are now only talking about inclusion. Because how far are we going to get if there’s all these separate interest groups with all these separate conversations? Acknowledging diversity and creating pockets within an organization is not fully solving the issue.”

Meg Smith, Director of the Vermont Women’s Fund, a nonprofit organization that provides support for women’s economic self-sufficiency, entrepreneurship and an event sponsor said, “this event that brings people together to have a conversation is important as everyone gains strength from one another. The realization that by collaborating, the sum is greater than the parts. There is an ongoing need for women in the workforce, and to create an inclusive, friendly workplace. My organization is focused on positive change for women, but it cannot happen in a vacuum, you cannot do it alone.”

With the success of this initial event, the group hope to continue their work including hosting guest speakers from the Women’s Center and an International Women’s Forum dinner with PhD students and the dean from UVM’s Rubenstein School. The group also realize that with The Sustainable Innovation MBA program being just one year, it’s a challenge to maintain momentum from cohort to cohort.

They plan to stay involved after graduation and provide assistance wherever possible, as some from previous cohorts have done, and hope that future cohorts will continue to build out the work of the group, and keep advocating and pushing for gender issues and equality.

The Twelve Days of SIMBA*

Okay! Now that finals are over for Module 2, and the Class of 2019 has reached (almost!) the halfway point, it’s time to begin celebrating many things, including the upcoming holidays. Enjoy this lighthearted take on “The Twelve Days of Christmas” by Maggie Robinson ’19.  *Oh — by the way — SIMBA stands for The Sustainable Innovation MBA. We guess we’ll allow it…

On the first day of SIMBA, my professors gave to me, Classmates that become family.

On the second day of SIMBA, my professors gave to me,
2 Vermont Weddings, and Classmates that become family.

On the third day of SIMBA, my professors gave to me,Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the fourth day of SIMBA, my professors gave to me, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the fifth day of SIMBA, my professors gave to me, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the sixth day of SIMBA, my professors gave to me, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the seventh day of SIMBA, my professors gave to me, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the eighth day of SIMBA, my professors gave to me, 8 weeks a module, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the ninth day of SIMBA, my professors gave to me, 9 daily coffees, 8 weeks a module, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the tenth day of SIMBA, my professors gave to me, 10 module teams, 9 daily coffees, 8 weeks a module, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the eleventh day of SIMBA, my professors gave to me, 11 Office references, 10 module teams, 9 daily coffees, 8 weeks a module, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

On the twelfth day of SIMBA, my professors gave to me, 12 rewarding months, 11 Office references, 10 module teams, 9 daily coffees, 8 weeks a module, 7th gen speakers, 6 toolkit workshops, Porter’s 5 Forces, 4 intense modules, Fusco’s 3 part test, 2 Vermont Weddings, and Classmates that become family.

Photo by erin walker on Unsplash

A Conversation with Our International Students

EDITOR’S NOTE: Four members of our current cohort are international students, coming to the program from around the globe, attracted to the program’s perspective on the role business can play in addressing global challenges. Esteban Echeverria, Noelle Nyirenda, Bhargavi Montravadi, and Alexa Steiner sat down recently to talk about coming to Vermont and settling into the challenges of The Sustainable Innovation MBA program. Their bios (along with the entire Class of 2019) can be found here.

The Sustainable Innovation MBA program has been quite the adventure so far. Between hours of class work, group work, readings, guest speakers, and more, the first few months of the program have challenged and inspired us. For a few of us in the 2019 cohort, the experience leading up to the first day of the orientation was an adventure in itself.

Esteban – Costa Rica

Coming from Costa Rica to this program is one of the best decisions I have ever made. I never thought I was going to encounter such a developed and community-conscious city in Burlington. Its citizens, apart from being some of the nicest people I have known, are very aware of social and environmental issues, as well as politically active and full of insights that will make you think about the status quo. From the community-owned grocery stores, to the amazing Lake Champlain, this city has what it needs to be the best place as the home of The Sustainable Innovation MBA.

“The MBA program itself dives in many of the world challenges we currently face, and most of its solutions lie in empowering entrepreneurial projects in developing countries. I recommend this experience to any international student interested in contributing to the economic growth, as well as the environmental and social prosperity, of their countries. The networking and potential connections you will find at this program will be beneficial to your future projects and endeavors.”

Noelle – Zambia

“Moving to Vermont for the program was not without its challenges, and they included but were not limited to: finding accommodation from another continent, completing a visa application in three weeks and moving two chunky pieces of luggage between four flights. But the most difficult part about the whole move was explaining to friends and family where Vermont was, and what it was (there are still some skeptics who aren’t convinced it is an actual state).

“It was easier to explain the existence of the state to some more than others. For instance my father, being an avid political news reader, was aware that the senator was Bernie Sanders, who was also a candidate for the Democratic nomination for president and that the state has some of the more progressive policies when it came to the environment. He was quite proud that his daughter was going back to engineering school to find a way to solve global warming. Unfortunately, I had to explain that I was actually going to business school for an MBA. He is now rather heartbroken that I am not getting a Ph.D. Here I should note that African parents are always up-selling their children when it comes to education.

“Then there was a friend from high school who said she had heard of Vermont, which was a great relief, until she explained what she meant. “It was mentioned in an episode of Scandal,” said she, “Vermont is in Canada! It’s where scandalous American politicians retire to.”  I was confident enough about Vermont’s membership in the United States of America to correct the former statement, however, I could offer no opinion on the accuracy of the latter.”

Bhargavi – India

“Fortunately, I didn’t have the problem of explaining where Vermont is to my family and friends like Noelle, because I was already living in Vermont. But, when I was moving from Boston, I received  lot of questions on where Vermont was so, I took the easy route and told them that it’s near Boston. So now they must be thinking that Vermont is somewhere in Massachusetts close to Boston.

“I always dreamed of doing an MBA. But whenever I tried to pursue my dream, an enticing job offer drifted me away. After my engineering, a job offer in Infosys and in Boston, it was the job offer at Deloitte. Not sure if I chose the program or the program chose me; I am elated to be in The Sustainable Innovation MBA program and enjoying every moment of it. ‘The amalgamation of my career initiative MBA with my passion of integrating sustainability into the businesses/daily life was a dream come true’- This is a statement from my Statement Of Purpose, a part of the application process. As any middle-class Indian family, mine was delighted and excited that I will be doing MBA in the USA.  Still, I was pretty apprehensive about sitting in an American classroom, but after Module 1, It felt like I knew Kalkin 110* from my previous life.

“My initial thoughts were that the American education system is so different to Indian education system. Yes! They are different, but what brings us together is the quest for knowledge, care for people, and responsibility towards planet. There are odds of living in a different continent – 8,000 miles away from homeland across 2 oceans and keeping fingers crossed, checking Twitter for new immigration policies. But, the global potential for this program, especially its importance in developing countries, makes it appealing to any world citizen.”

Alexa – Canada

“Here are my Top 5 things to know as a Canadian studying in Burlington:

“One. The school helps so much with the process of getting a student visa.

“Two. It’s hard to find a place to live in Burlington — start your search early!

“Three. Be prepared for your American classmates to make fun of your accent and your hockey team.

“Four. Try to tame your politeness — sometimes it’s okay to just talk without raising your hand.

“Five. Everyone in Vermont is friendly and warm — even if you’re far away, it still feels a lot like home.”

Esteban, Noelle, Bhargavi, and Alexa: If you are a prospective international student reading this blog post, please reach out to us. We would love to discuss our experiences so far, what it took to get here and why choosing UVM and The Sustainable Innovation MBA program is a great decision.

The Sustainable Innovation MBA Co-Hosts Global CEO Forum

On a beautiful autumn day in mid-October — the kind of day Vermont is famous for — the International Academy of Management came to the campus of UVM to host the Global Forum on Sustainable Innovation and Business Transformation.

The event, co-hosted by the Grossman School of Business and The Sustainable Innovation MBA program, featured a keynote speech and conversation with Muhtar Kent, chairman of the Coca-Cola Company. Our MBA students also had the opportunity to listen to and network with some of the U.S.’s and Vermont’s most innovative business leaders.

Kent, who has made innovation and the transformation of Coca-Cola a vital focus of his time at the helm of one of the world’s most recognizable companies, told the Forum’s 150 attendees that, at Coca Cola, innovation flows from the power of partnerships — that the best ideas are often found on the outside.

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Kent also made the case that a “golden triangle” of forces — business, government, and social-mission organizations —  must come together to solve the world’s most pressing problems. Therefore, he said, business leaders must be master relationship builders.

The Forum also featured reflections by three forward-thinking business leaders. Mary Powell, CEO of Green Mountain Power; Brian Griffith, chairman of Griffith Foods; and Joey Bergstein, CEO of Seventh Generation, shared their own personal and organizational stories of transformation and innovation.

Family Matters

This post was written by Jeffrey Lue ’19.

EDITOR’S NOTE: For an enhanced experience with this post, please take a listen to this 1990’s throwback.

The Sustainable Innovation MBA Advisory Board member Don Droppo, CEO of Curtis Packaging (and UVM ’96) accepted the U.S.-based Multi-Generational Family Enterprise Award.

It’s a rare condition, this day and age, to find emphasis being placed on the importance of family businesses. But at the Family Business Awards in early October, the Grossman School of Business and supporting community has the opportunity to acknowledge family businesses who are leaders in their respective industries. This year, we celebrated Lake Champlain Chocolates, Curtis Packaging, and Foster Brothers Farm / Vermont Natural Ag Products Inc. for their innovation and commitment to sustainability.

Hearing the stories of the three 2018 winners and their 2017 counterparts were a beautiful example of love and tradition of the grand design. Since 1983, Lake Champlain Chocolates has been aspired to providing extraordinary chocolate moments. In addition to creating wonderful chocolates, LCC has demonstrated their commitment to sustainable business practices with their certifications (B Corps, Fair Trade) and community service.

It’s impressive enough to find a business in operation since 1845, but some people say it’s even harder to find one with the vision to incorporate environmental stewardship into its core competencies after all those years. Curtis Packaging achieved both accolades, becoming the first packaging company in North America to use 100% renewable energy, be carbon neutral, and a zero-waste-to-landfill facility.

The Lampman family of Lake Champlain Chocolates.

What’s the secret to the success of these small businesses? Well there must be some magic clue inside these gentle walls in the new dairy barn at Foster Brothers Farm. This fifth-generation farm has innovation engrained in their DNA. They built one of the first of New England’s methane digesters back in the early ’80s, expanded their portfolio to include an organic line of compost (MOO), and recently implemented a heat recovery system designed to capture and repurpose the heat created during the aerobic composting process.

These families are an inspiration of how business should be done. At today’s ceremony, there was real love burstin’ out of every seam of Ifshin Hall, and it was clear to see that it’s the bigger love of the family that will keep these businesses going strong. Congratulations again to all the 2018 winners!

Getting to Know the Class of 2019: Alyssa Schuetz

A recent graduate of Drexel University, Alyssa brings a passion for apparel, textiles, and product development to the The Sustainable Innovation MBA program. Connect with her on LinkedIn.

Why did you choose to attend The Sustainable Innovation MBA program?
As the #1 Green MBA program in the country, I knew the program could give me the skills, tools, and knowledge that I would need to in order to further my career in sustainability and the fashion industry.
What has been your favorite part/element of the program so far?
My favorite element of the program is the diversity of my cohort — it makes for lively class discussions that have taught me so much more than a textbook ever could.
What are three things someone considering the program should be aware of?
1) There is a huge focus on leadership and teamwork to make you the best leader and team player that you could be, 2) The group work bonds you to your cohort, and 3) Your cohort will become your extended family.
How has The Sustainable Innovation MBA benefitted you so far?
I have learned that there are so many ways to implement sustainability in a business model that is both ethical and cost-effective.
Anything else you’d like people to know?
The program’s location in Burlington, Vermont is inspirational as the culture here lives and breathes sustainability and the great outdoors.