Category: Classroom

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Using Design Thinking to Build A Better World

This post was written by Ian Dechow ’18 and Randy Baron ’18

Entering Kalkin 110 on a particular mid-April day was unlike any day before it; a lively if not curious environment awaited inside the classroom.

Against the auditorium style seating a table was set up and laid out with what could be confused as the tools from Dexter’s laboratory, a motley assortment of pliers, saws, metal files, and safety goggles were spread over a black tarp. On a second look around the room you notice a type of pinball style launching devices affixed to the front desk, a ping pong ball loaded into its cartridge, aimed at narrow vertical strip of peg board. On the ground in front of the desk beyond the pegboard barrier were two lines of tape outlining what we would come to learn was a landing strip of sorts. We were not sure what to think of this odd display as we took our seats, but were quickly informed by the excited and jovial explanation from Mike Rosen, our guest lecturer for the day.

Mike, an engineer and Research Associate Professor at University of Vermont, had come to the Grossman School of Business to teach a workshop on Design Thinking for The Sustainable Innovation MBA 2018 cohort. Mike, after telling us a little about his background, passed out an eclectic set of supplies to the pre-divided teams and told use what the challenge for the class would be. Using the launcher at the front of the room, the tools, and materials provided: pegboard, small metal sheets, PVC piping, ping-pong paddles, and various other connector type elements, we were to construct a device to divert a ping-pong ball around, over, or through the vertical pegboard barrier and land within the landing strip on the ground designated by red tape. Each team after understanding the challenge would get opportunity to ideate, prototype and test a device in order to achieve the unconventional task.

Continue reading “Using Design Thinking to Build A Better World”

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Practicum Scope Pitch Day!

The Sustainable Innovation MBA Class of 2018 is entering the home stretch.

On May 11, the cohort, faculty, and sponsoring companies gathered on UVM’s campus for what has become an inspiring demonstration of how the students have “put it all together.” Students spent the day “pitching” the scope and framework of their practicum projects — a capstone of The Sustainable Innovation MBA experience. Practicums call upon all the skills, insights, experiences, and learning the students have acquired over the past nine months.

The three-month practicum project is a full-time, hands-on experiential engagement with either existing companies or new ventures from the US and around the world focused on real challenges and opportunities in sustainable entrepreneurship. Practicum projects are composed of teams of 2-3 Sustainable Innovation MBA students each. Projects run from May until August, and culminate in a final report and presentation right before graduation.

Students pitched scoping for projects at companies such as Keurig Green Mountain, Griffith Foods, Essilor, Seventh Generation, and Caterpillar.

The deliverable for the practicum is a detailed and comprehensive business/action plan for the host organization.

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Biomimicry: Learning from Nature’s Innovation

This post was written by Julia Lyon ’18

On a day in April, The Sustainable Innovation MBA students started a particular morning considering the question: What is your favorite organism? With answers ranging from sea turtles to willow trees, to ants and fungus, we began to explore the organisms in nature that intrigue and inspire us.

Mike Dupee, Lecturer in The Sustainable Innovation MBA program and a Certified Biomimicry Professional, introduced us to biomimicry, which is the innovation approach centered on the “conscious emulation of nature’s genius.” As humans strive towards innovation – doing things faster, better, more creatively, and at lower cost – looking more closely at the natural world around us shows that this is one of the oldest processes on the planet. The plants, animals, and microbes that have survived the 3.8 billion years of our planet are the ultimate innovators and as businesses seek to solve problems and develop new strategies, there is much that can be learned from them.

“There are three core concepts of biomimicry: Emulate, Reconnect, and Ethos.”

There are three core concepts of biomimicry: Emulate, Reconnect, and Ethos. Emulation means that biomimicry is centered on learning from nature, not just copying it. Nature’s design can be learned from and adapted, and biomimicry is not simply using an exact design copy as found in nature. Reconnecting is based on the notion that biomimicry in practice will be better if you have a connection with nature and a relationship with the environment. Ethos asks the simple question: what kind of work is worth doing? This is our respect for the environment and the responsibility to our fellow species. Biomimicry in practice also centers on six central life principles that are lessons from nature based on design. These range from being resource efficient to adapting to changing conditions.

There are many fascinating examples of how businesses have used biomimicry to create innovative designs. One such example is Sharket Technologies, which was created when the U.S. Navy was in search of a solution to prevent aquatic life from attaching to ship hulls; the only solution that had been found thus far was a toxic paint. It was realized, however, that sharks do not have the same problem of organisms attaching to their skin and researchers took a closer look at sharkskin under a microscope. It was found that the shape and pattern of sharkskin made it resistant to algae and barnacles attaching themselves. This insight was developed into a special material that has been used to create a commercial coating for boats as well as sterile surfaces for hospitals and laboratories that reduce bacteria growth.

During the workshop, student groups were given different organisms with innovative features to examine and design potential commercial uses. With organisms like the nautilus, red pine, and the abalone, and students designed eco-friendly adhesives for snowboard manufacturing, fire-retardant clothing, and sturdier bike helmets.

Though biomimicry is not a new concept, its approach can be applied to help solve sustainability challenges and improve life on our planet for generations to come.

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Innovator-in-Residence: Donald Reed

This post was written by Kevin Hoskins ’18

As part of the Innovator-in-Residence series, Donald Reed recently visited the 2018 cohort of The Sustainable Innovation MBA program. Reed is currently a managing director in PwC’s (PriceWaterhouseCoopers) sustainable business solutions practice. Reed is also a member of The Sustainable Innovation MBA’s Advisory Board.

Reed got his start in advocacy and grassroots work in Michigan. He discussed the evolution of his thinking from an “us versus them” mentality (environmentalists versus business) to understanding business’s role in society (and the part that sustainability-minded professionals can play).

Reed then worked on economically-targeted investing focused on creating market-rate return investments that created housing opportunities for health care workers. He stressed to the cohort the need to “not be bound by what’s already been done and what other people tell you is possible.”

In order to better understand the world of finance, Reed then went back to school, getting his MBA in finance from the Stern School at New York University. He subsequently went to work for the World Resources Institute, a think tank, where he felt he had found “his people.” That experience led Reed to ask questions of himself that he posed of the class: “how do I see myself and how do I explain to others what I’m interested in and the capabilities I bring to bear on that?”

“Don’t be bound by what’s already been done and what other people tell you is possible.”

Reed is extremely well-read and stressed the importance of integrative thinking, tying these seemingly disparate frameworks that you learn throughout your life in a way that you can understand other people’s perspectives and translate them to a new area. There may always be someone with deeper expertise on a topic than you, but it’s important to understand enough of it that you can converse intelligently on the topic at hand.

Reed also discussed his role as a consultant, becoming a trusted advisor to numerous large organizations. He described the challenges of consultants face: to understand enough to analyze the situation at hand, identify the key drivers and distill that down, but then engage your clients by listening and becoming trusted, in order to help the organizations change.

His previous company, Sustainable Finance Ltd. was eventually acquired by PwC. In his current role, Reed and his team focus on what they call “Sustainability Strategy through Execution.”  They are currently focused on four main areas: cities of the future, social determinants of health, the future of reporting, and total impact and measurement.

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Getting to Know the Class of 2018: Kevin Hoskins

Kevin Hoskins  brings management and leadership experience in the music business and creative industries to The Sustainable Innovation MBA program. He was interviewed by Isabel Russell, an undergraduate at UVM.

Why did you choose to attend The Sustainable Innovation MBA program?

I came back to Vermont because I craved the community and the spirit of entrepreneurship that seems to be part of the state’s DNA. I chose this program because I wanted to learn frameworks and strategies to better integrate my leadership, management, and entrepreneurial experience with the program’s sustainability and innovation focus. The Sustainable Innovation MBA program at UVM speaks to my goals and values: resisting business-as-usual, having the optimism to see challenges as opportunities, and needing to develop new business models (and market-based solutions) that incorporate sustainability and future-oriented thinking.

What has been your favorite part/element of the program thus far?

My favorite part of the program is the people: my cohort, the professors, and the greater community that surrounds this program. Every day, I’m grateful for the opportunity to spend eight hours in a room learning from people that want to get creative about solving challenging problems.

What are three things someone considering the program should be aware of?

First, be willing to listen…and embrace collaboration. You’ll be put in situations where teamwork is essential to achieving your goals. Remember to listen to your teammates and be willing to collaborate to achieve something greater.

Second, follow the threads that interest you. The year goes by quickly and there’s a lot of information coming your way. It’s easy to fall behind if you don’t stay on top of the work. But don’t forget that you can always dive deeper on the subjects that you’re passionate about. Adopt a learning mindset. And stay curious.

Lastly, be prepared to challenge yourself. Be willing to re-frame your mental models. Ask questions. Be flexible. And get comfortable with uncertainty. It’ll serve you well in the program, but also in your future work.

How has the Sustainable Innovation MBA helped you?

The Sustainable Innovation MBA has helped me learn analytical tools and financial models to help improve and thus transform businesses. This program is a great reminder that people are not only the greatest asset of any business, they’re our greatest tool for innovation and our greatest opportunity to build a better world.

Anything else?

Vermont is a unique place. And this is a unique program. Embrace the magic. And if you’d like to know more about the program, I’m happy to talk. I can be reached via www.kevinhoskins.net

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Getting to Know the Class of 2018: Madeline Brumberg

Prior to joining The Sustainable Innovation MBA program, Madeline Brumberg ’18  spent her career in the Geographic Information Systems (GIS) field and worked as an analyst for both the private and the public sector.

Why did you choose to attend The Sustainable Innovation MBA program?

I chose to attend The Sustainable Innovation MBA program because I want to find real-world solutions for the social and environmental issues we face today. I see deficiencies in the private, public and NGO worlds that are preventing each of these sectors from properly addressing these issues. I think that business has the most opportunity to transform itself to become an engine for change in the world. I hope to be a change agent in the business world to leverage its power for good.

What has been your favorite part/element of the program thus far?

I have loved the leadership and teamwork component of this program. I was not expecting this to be such a big focus of the program but I am eternally grateful that it is. I am so excited by it because companies are nothing without their employees so to make the best companies, you need to make your employees the best. I am excited to be gaining the skill set to help employees reach their full potential.

What are three things someone considering the program should be aware of?
1. There is a huge focus on leadership and you will learn more about yourself than you knew was possible.
2. This program is not greenwashing. Sustainability is truly at the heart of the program and we are reminded of it at every turn.
3. Community is a central tenant of this program and it will serve you well. You will be supported by your classmates and you will support them throughout the year. It will be frustrating at times but ultimately you will be in it together.
How has the Sustainable Innovation MBA helped you?
The Sustainable Innovation MBA program has helped me to see a future in business that is meaningful and has impact. It is a very fuzzy path that I am beginning to see but it is a path.
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Getting to Know the Class of 2018: Ariella Pasackow

Ariella Pasackow ’18 left her previous position as Program Officer for RefugePoint to join The Sustainable Innovation MBA program.  She was interviewed by Isabel Russell, an undergraduate at UVM.

Why did you choose to attend The Sustainable Innovation MBA program?

I grew up in Vermont, but built my career out-of-state and overseas, so The Sustainable Innovation MBA was the perfect bridge to return home and grow my professional network in Burlington. With a background in nonprofit administration and international development, I wanted to gain business tools and frameworks for growing sustainable enterprises and inclusive company cultures. I am passionate about social justice issues, gender equity, and refugee resettlement in Vermont, and plan to work in greater Burlington for the foreseeable future.

What has been your favorite part/element of the program thus far?

I have learned just as much from my peers as I have from my professors, and am so grateful for my cohort community. Unlike more traditional MBAs, we have cultivated an incredibly supportive learning environment, where all different types of learners can thrive. By building trust, respect, and strong interpersonal relationships, we have been able to communicate effectively through periods of stress, confusion, and anxiety. We cheered each other on before tests and presentations, and made sure to keep the the classroom energy high despite too many hours indoors.

What are three things someone considering the program should be aware of?

REST. Do whatever you need to do to take time off before the program starts, and allow yourself the time and space to transition. Classes start Day 1, and orientation is no breeze! Whether you are coming from undergrad or a career, moving across the country, or commuting from down the street, take time to rest and rejuvenate before the program starts. You will be nonstop for twelve months.

REFLECT. Taking one year out of your career to be a full-time student is an incredible privilege and opportunity. Don’t let the weeks slip away bogged down in the daily grind without reminding yourself why you are here, what you want to learn, and where you want to put your energy. You can’t do everything, but you can commit to prioritize, plan, and proactively work towards your personal and professional goals. The Sustainable Innovation MBA students have shared values, but often very different expectations for during and after the program. Celebrate this, and learn from each other.

PRIORITIZE TEAMS. Every module, you will be assigned a small group to work with for eight weeks on every class assignment and deliverable. Teamwork is both the most challenging and most rewarding part of The Sustainable Innovation MBA experience. It will be fun, frustrating, time consuming, and hilarious. You will design and create products you would never think of alone, and test processes and procedures on how to best work together, designate roles, delegate, and download. You will learn how to brainstorm without judgement, make decisions under stress, and maximize the quantity and quality of your work despite minimal time and resources. Individual assignments are few and far between, and readings can always wait until later. Your grad school success is dependent upon the success of your team. Cherish them.

How has the Sustainable Innovation MBA helped you?

The Sustainable Innovation MBA has introduced me to more people, ideas, and resources in the last eight months than I could have ever imagined. I have gained a vocabulary and confidence to ask questions and solve problems I had only thought about through a nonprofit lens. It has shown me the immense value of my previous work experience, and the endless possibilities for leadership, growth, and opportunities in sustainable business with a triple bottom line approach (people, profit, planet).  The Sustainable Innovation MBA could have not come at a better time in my life as I seek to pivot into for profit ventures and social entrepreneurship. I am immensely grateful for my peers, professors, and alumni network that has grown to create a true community.

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Getting to Know the Class of 2018: Julia Lyon

Julia Lyon left her previous position as an Internal Communications Manager  for Enel Green Power to join The Sustainable Innovation MBA program. She was interviewed by Isabel Russell, an undergraduate at UVM.

Why did you choose to attend The Sustainable Innovation MBA program? 

When I was an undergraduate student at UVM and took my first course on corporate social responsibility (CSR), I had an epiphany. I knew that I wanted to create environmental and social good using the power of business and that earning an MBA was likely in my future. I chose to attend The Sustainable Innovation MBA for several reasons. I was drawn to the one-year accelerated program, the program’s holistic approach to incorporating sustainability in all coursework, and the opportunity to return to beautiful Vermont.

What has been your favorite part/element of the program thus far?

My favorite part of the program has been getting to know my peers. We’re a group with a diverse set of backgrounds and interests and I find that I’m continuously learning from my classmates. With the amount of team assignments required throughout the coursework (there are a lot!), you get to know your classmates very quickly.

What are three things someone considering the program should be aware of?

  1. The leadership component of The Sustainable Innovation MBA curriculum. If developing strong leadership capabilities is of interest to a potential student – I recommend this program. We have multiple leadership-focused courses, a year-long leadership seminar, and many opportunities to connect with local business leaders to learn from their experiences.
  2. The amount of team collaboration that’s involved. At various points in the program you’ll have as many of three different teams that you complete projects and coursework with. This is a great opportunity to learn from one another that really develops your time management, communication, and collaboration skills.
  3. Practicum projects. These summer consulting projects are a way to apply the skills you’ve developed over the year, so it’s important to explore early on what you’re looking to gain from your practicum experience.

How has The Sustainable Innovation MBA helped you?

The Sustainable Innovation MBA has helped me explore my quantitative skills in finance and accounting and made me realize that I do really enjoy finance. The leadership component of the program has also helped me understand the importance of leadership of any business and think more about my future impact as a leader.

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Getting to Know the Class of 2018: Kathrin Kaiser

Kathrin Kaiser ’18 left her previous position as EU Associate Category Manager – Business Manager for Wayfair to join The Sustainable Innovation MBA program.  She was interviewed by Isabel Russell, an undergraduate at UVM.

Why did you choose to attend The Sustainable Innovation MBA program?

I always knew I wanted to get an MBA in the U.S. to learn all the necessary skills it takes to be an entrepreneur, but after working in an exclusively profit-driven environment, I wanted to make a career change and use my resources to do “something good.” I felt that The Sustainable Innovation MBA would teach me fundamental business skills and combine them with a sustainable perspective to create profitable businesses that benefit the environment and society — plus Vermont seemed like the perfect environment for a green MBA program.

What has been your favorite part/element of the program thus far?

I really enjoyed the quant classes of the program – we were lucky to have had amazing finance and economics teachers who made learning about numbers really fun. I would say in general, the teachers are the greatest part of the program – they are so enthusiastic, caring, patient and knowledgeable.

The class discussions are also one of my favorite parts – sometimes we completely lost track of time because we had such engaging and interesting discussions and its amazing how much you learn from hearing all the different perspectives from your class mates and their large variety of backgrounds. The level of engagement in our cohort is just amazing!

What are three things someone considering the program should be aware of?

  1. You might not notice the amazing development you and your classmates make throughout the year – suddenly, it will be March and you will look back and compare yourself and your cohort to last summer and realize what amazing progress you all have made together.
  2. Your cohort will be more than just your classmates — your classmates will become a big family that supports, encourages, and empowers each other.
  3. You will become very confident with public speaking.

How has the Sustainable Innovation MBA helped you?

One of the greatest things is the broad network we’ve been building in the program and all the different perspectives we get to hear about — numerous guest speakers, events with the Advisory Board, or just engaging in discussions with my classmates have tremendously broadened my horizon and changed the way I look at things.

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Wellington Management Talks About Investing in a Better Future

This post was written by Shari Siegel ’18

According to the Global Impact Investing Network (the “GIIN”), the financial markets will have to provide several trillion dollars annually if the U.N. Sustainable Development Goals (“SDGs”) are to be met by 2030.[1]  Thus far, impact investing has been mainly the realm of a small group of institutional and wealthy individual investors, but that situation is now poised for change.  The GIIN’s new framework is calling for impact investing to be “made more accessible by developing new products suited to the needs and preferences of the full spectrum of investors (from retail to institutional) and to accommodate the capital needs of various types of investees.”[2]

The Sustainable Innovation MBA Class of 2018 started Module 4 of its program with a visit from Meredith Joly, Christopher Kaufman, and Quyen Tran from Wellington Management arranged by Professor Charles Schnitzlein.  The Wellington trio came to discuss how the privately held Boston-based investment manager is making impact investing a viable option for a larger pool of investors.

First, A Little Vocabulary.  “Impact investing” differs from “ESG investing.”  ESG investing is a strategy in which investments, usually equity in publicly traded companies, are chosen because the issuers have environmental, social or governance practices that align with the investor’s values; the companies in question may or may not offer products or services that are intended to address social or environmental problems.  (For example, an ice cream manufacturer that is well known for its advocacy of better environmental practices and equality issues may be an ESG investment, but wouldn’t be an impact investment.)  Impact investing is a strategy in which the investor chooses investments with a view to addressing specific social and environmental issues.  The core businesses of the companies that the impact investor invests in are specifically aimed at solving one or more social or environmental problem.  (For example, a healthcare technology company that enables people in remote locations to have “virtual” doctor visits so that they can obtain otherwise unavailable or cost-prohibitive care could be an impact investment.)  The social and environmental issues impact investing usually attempts to address are subsets of the SDGs, including addressing adequate housing, access to education, healthcare, climate, water resources, etc.

Traditionally, impact investing has largely been done through large private investments in private companies.  Such investments would normally be limited to institutional investors or Very or Ultra High Net Worth individual investors (i.e., investors with more than $5 million to invest).  The Wellington team came to talk about how impact investing can be done through selecting publicly traded stocks, bonds and mutual funds, which are much more liquid and have much smaller minimum investment requirements than private equity, thus making such strategies more widely accessible.

The SDGs establish a common language for NGOs (non-governmental organizations), foundations, governments and private investors as they each work in their own ways to solve the world’s most pressing problems.  Supported by its large, centralized research team, Wellington has identified hundreds of publicly traded securities that provide capital for companies and projects whose core businesses and missions address SDGs in one of three impact themes: life essentials (housing, clean water/sanitation, sustainable agriculture/nutrition, and health), human empowerment (education and job training, digital divide and financial inclusion) and environment (alternative energy, resource efficiency and resource stewardship).  As the manager of its own equity and bond funds and subadvisor for third party funds, Wellington monitors and measures not only the financial performance of the securities in its portfolios but also the social and environmental impact the companies and projects are having to ensure that investor goals are being achieved.  This is an example of one more way business is being used as a force for good.

[1]           Global Impact Investing Network, Roadmap for the Future of Impact Investing: Reshaping Financial Markets (March 2018) at 9.

[2]           Id. at 49.