Our International Consulting Project Asia students will begin learning the ins-and-outs of this delicate dance this summer, with corporate governance being the research topic this summer and fall. Click here for a brief recent Radio Entrepreneurs interview on the planning for the course.
Thanks again to WBZ, Dan Rea and Nightside for the opportunity to join their national radio call-in show on Monday night to discuss our BC MBA excursion to Hong Kong, Vietnam, South Korea and China.
A huge thank you to so many people who tuned in to listen, as well. Here is the link. Background on the IME Asia program is here.
Joe Rosen was my guest today and is the head of the baseball division of Orpheus Sports where he represents and advises professional baseball players. He also runs the corporate department of Brown & Rosen LLC, and his practice focuses on mergers and acquisitions, licensing, private financings, contract work, trademarks, other corporate matters and sports and entertainment law. Joe additionally teaches entertainment law at Boston College Law School. Here’s his LinkedIn profile.
The focus of our August episode will be the Business of Sports. The other 3 guests will be Jay Fee, Dave Mingey and Tom McCarthy, whose biographies are below.
Jay Fee is actively engaged in the Sports Industry in a variety of capacities for almost twenty years as a corporate attorney and player agent. He chairs his firm's Sports Industry Practice Group comprised of several attorneys with experience in a variety of legal disciplines, including corporate, employment, tax, litigation, real estate, intellectual property, telecommunications, media and government relations. Jay will discuss corporate sponsorships and business transactions and you find his LinkedIn profile here.
Dave Mingey is the President & Founding Partner at GlideSlope, which is a team of management advisors that focus solely on the business of global sport. Through neutral, objective counsel, GlideSlope helps its clients seize opportunity for growth, address challenges and effect change. Here’s his LinkedIn profile. He’ll discuss merging sports-specific goals with overarching business objectives.
Tom McCarthy is the CEO of Beijing International Group, whose web site is on this link. Amongst other sporting events he runs, Tom’s firm is a company of some 200 full- and part-time employees in 13 cities, which markets the China Tennis Grand Prix Mercedes Benz Cup and its associated junior program. He’ll discuss moving to Asia in 1987 and building his company from scratch.
Congratulations to evening MBA grad Robert Herbstzuber whose start-up This Week in Town is being launched. Robert is hopeful over the long term that This Week in Town is "going to be the event information and social hub for the Town."
Robert further explained: "We have a long way to go, but we're starting with the Medfield library system as a partner since it is a community hub already, albeit for different reasons. It's going to be a social entrepreneurship venture and for profit business, focusing on providing both technology opportunities in the schools (for kids) and in the library (for everyone)."
Regarding his advice for MBA students, Robert offered this: "Stick with it...it can happen...believe in your idea...and don't let anyone tell you otherwise!"
Moving forward, we're excited to work with 20 new entrepreneurs beginning in September, in the BC MBA Business Planning and Entrepreneurship course.
Joe Abely, while CEO of LoJack Corporation, had seven different strategic options to consider, in conjunction with his Board of Directors, regarding the future of the company. What decision would you make?
Many, sincere thanks to the Online Journal of International Case Analysis for publishing the LoJack case study. The abstract is below, with the entire case available here.
The LoJack Corporation is recognized for its vehicle-tracking technology and recovery devices. In mid 1986, after eight years of development, LoJack obtained the proper government approvals and commenced the marketing of its products in Massachusetts. From 1986-2002, LoJack expanded to 20 states, including the District of Columbia, and to 26 countries around the world. Over that period annual revenues grew to approximately $101 million (MM). LoJack had become one of the country’s most highly recognized brands.
However, problems with the company’s growth started to surface in 1998. At that point in time, geographic expansion was slowing down. There were a limited number of states in the US and countries around the world with the right combination of new vehicle sales and theft rates that created a significant market opportunity. Revenues steadily increased, but pre-tax profits declined and were only $5.63MM in February 2002, off from a peak of $18MM in 1998.
There were two immediate problems that needed to be addressed: sales growth was slowing and selling, general, and administrative (SG&A) costs were increasing at a faster annual rate than the company’s gross margin. Investors began to lose interest in the stock resulting in a decrease in trading volume, a decline in the stock price, and a reduction in the company’s market capitalization from roughly $251MM to $100MM.
Joe Abely, the company’s CEO, has seven different strategic options to consider, in conjunction with his Board of Directors. There are other, derivative options, which might be considered, as well.
When is it time to move on from what you're doing...and go for the gold? Episode #13 of the Language of Business is now on-the-air!
The full 30-minute episode is below, featuring Mike Dreitzer, Bonnie Fendrock, Chuck Stravin and Andrew Wiener. Click on their names below for the individual interview segments. For the non YouTube version of the episode, click here. Each guest has featured content below, too.
Six jobs and 17 years later Mike Dreitzer is now the President of the North American division of a game technology company Ainsworth. Do most people follow his same circuitous path to success? His LinkedIn write-up is here.
What happens when you leave a company that you co-founded? Bonnie Fendrock knows all about that, as it comes with the territory in her career as a successful life sciences executive. Here's her profile.
Think you know a thing or two about what makes a product successful? Try comparing your knowledge with Chuck Stravin. He's been recruited and handpicked by multiple CEOs to bring structure and stability to their organizations. Here's his profile.
He's so proud of his work his company bears his own name. But, what happens if something goes wrong, or worse, everything is just mediocre? No one gets a 2nd chance, and especially not the caterer. The web site for Andrew Wiener's company is here: http://www.cateringbyandrew.com/.
Thanks for your support while we were on the road! Great job by our students and alumni!!
We are here safe and sound. Should be in Boston around midnight.
Let's face it; it IS a *great* wall and certainly lived up to expectations. The Forbidden City was fantastic, too, but the weather was extremely hot. Everyone was back by 5:30 and then used an hour to shower.
The Alumni Event should have been routine, but during dinner the power went out due to a huge wind / rainstorm. The restaurant tried to use their battery, handheld devices for credit card processing but they couldn't get them to work. One of our alums, myself & one of the restaurant staff hiked literally a mile in the rain to find an ATM but I couldn't get my Bank of America card to work. (I didn't expect to need cash so didn't have my Citibank card with me). It was POURING, wind driven cold rain and we're both soaked through and through. We eventually figured out payment, with lots of laughs along the way and the alumni took the students out to a 2nd venue.
Free morning tomorrow for last minute sightseeing / shopping, and off to Boston tomorrow afternoon.
Pictures below posted with permission.
|The Language of Business