Eccles Business Buzz

Season 8 continues with our conversations about the new strategic direction at the David Eccles School: societal impact. Todd Zenger is the N. Eldon Tanner Chair in Strategy and Strategic Leadership and Presidential Professor at the David Eccles School of Business  and Teppo Felin is the Douglas D. Anderson Endowed Professor of Strategy and Entrepreneurship at the Jon M. Huntsman School of Business at Utah State University. Todd, and Teppo discuss their collaborative efforts to encourage a scientific approach to management and entrepreneurship. Together with host Frances Johnson, they explore how this novel methodology replaces conventional wisdom with a structured, theory-driven process for value creation, using examples like AirBnB and SpaceX. Their discussion underscores the significance of contrarian thinking, interdisciplinary collaboration, and the potential for extensive societal impact.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University.fm.Eccles Business Buzz is proud to be selected by FeedSpot as one of the Top 70 Business School podcasts on the web. Learn more at https://podcast.feedspot.com/us_business_school_podcasts. Episode Quotes:On using a scientific approach and testing their own theory.[11:53] People, particularly entrepreneurs, are given a treatment where they're encouraged to, sort of, develop theories and then engage in experimentation that's, sort of, consistent with those theories and interpret the results of those experiments in a way that's consistent with the theories. And what they find is better outcomes for those that have been treated with this kind of theory treatment, or they also find that they're also more likely to pivot, that is, to shut down something that's really flawed because they recognize that it's actually inconsistent with [the] theory that they have. The hypotheses aren't confirmed as opposed to an alternative approach, which is sort of [to] tell them to fail fast and just keep trying things until it works. And the problem is that that isn't very resource-efficient experimentation, right? You can experiment till you're blue in the face trying to find a peak out there that's valuable, but unless you have a theory to guide you there, it's actually likely to be a long and arduous process. So we've outsourced in many ways the empirical piece of this, but we're thrilled at the current findings.Solving more than business problems: An interdisciplinary initiative[34:07] Todd and I have published, I don't know, 20 something articles over the last dozen years together but we've also collaborated with people in cognitive science. We've worked with a complexity scientist, Stuart Kauffman at the Santa Fe Institute and others. And so there's definitely, this is an interdisciplinary initiative where we're building on insights from other disciplines and then also trying to leverage it into other spaces as well. So for me, absolutely, this is an interdisciplinary initiative. and places like the University of Utah are fantastic research institutions that have the breadth and depth of all these different disciplines and areas.Todd and Teppo aim to drive a meaningful impact on society through their work.[36:30] What we're basically teaching is [that] people should be thinking about the process of value creation and creating contrarian future states in a scientific way that has application to essentially economic development; it has application to solving social problems; it has application to solving medical problems; [and] obviously, entrepreneurship. We see the potential for massive societal impact where in some sense, playing with and trying to sort of teach the architecture and try to create an intervention, an engine that helps really solve a whole set of problems that people are grappling with. And in that sense, we hope that the impact on society is enormous.Show Links:Todd Zenger | LinkedInTodd Zenger | David Eccles School of BusinessTeppo Felin | LinkedInTeppo Felin | Jon M. Huntsman School of BusinessDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

Season 8 continues with our conversations about the new strategic direction at the David Eccles School of Business with a particular focus on the second pillar of the strategic plan: societal impact. Alan Hall is the Founder, Chairman, and CEO of Blue Sky Energy Corporation, and a prolific angel investor in Utah area companies and institutions, including the David Eccles School of Business. Alan shares his insights on bridging the gap between academia and industry, focusing on how higher education can better prepare students for the workforce by teaching critical thinking and social skills. Alan also emphasizes the importance of salesmanship skills for all students, irrespective of their career paths, and Frances takes the chance to highlight his philanthropic work, including contributions to the Sales Innovation Summit at the Eccles School. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University.fm.Eccles Business Buzz is proud to be selected by FeedSpot as one of the Top 70 Business School podcasts on the web. Learn more at https://podcast.feedspot.com/us_business_school_podcasts. Episode Quotes:Sales skills are valuable no matter your major or the industry you land in.[10:58] The reason I believe that everybody should take a sales class, let's say sales 101, is to understand you need to know the customer first before you do anything else. That principle helps us throughout our life by understanding our audience really well.Why Sales Innovation Summit is an important part of Alan's investment at the Eccles SchoolAnd so, I look at wherever we've donated money to any institution of higher learning, we want that president and that dean of business and the faculty to say, “We need something on the topic of sales,” right? So, at the University of Utah, this is our starting initiative, is having the summit, because the summit is a wonderful venue where we bring all these students together. As you pointed out, there's some wonderful speakers and opportunities. But for me, this is just a starting place for the university. As I look ahead, I would like to see that you could actually get a bachelor's degree in professional sales at the University of Utah. Other institutions that have this going are graduating hundreds of students in this field, and they come from various industries and career points. But I like the fact that University of Utah, starting with this one, it's statewide. So, I look at this great institution of the University of Utah as a flagship. They can take these things and run with it. They've got the right people, the resources. So, this was a starting, sort of, an event, which I hope, in time, will lead to bigger things. That's what this is all about.How skilled graduates drive economic and social change[18:54] Those who really do this well of understanding who they are and understanding the employer, they're gonna rise to the top as best employees in that business. That's because they're really thinking you through understanding the needs of customers in the business and how they fit into that. And they're going to rise to the surface very quickly because they demonstrate those skills, so they're gonna be a leader in the business sooner than anybodyThe idea of salesmanship[20:39] You have to have a concern for your fellow man, fellow ladies too, right? You need to have a concern for people. Because no matter what we're selling a widget or a service, we're really taking care of somebody that has an important and compelling need. And if we don't have that fundamental about loving others, if you will, of having a concern and care for their welfare, we're not going to do well. We're not going to go very far. If it's always about me, me, me, taking care of me. Those sorts of personalities don't make it very far. Show Links:Alan Hall | LinkedInBlueSkyEnergyCorp.comDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

Season 8 continues with our conversations about the new strategic direction at the David Eccles School of Business with a particular focus on the second pillar of the strategic plan: societal impact. Zach England is  Chief Operating Officer at CR England, an alum of the David Eccles School of Business, and a member of the Eccles Advisory Board, continuing his family's generational and generous support of the Eccles School and students.In this episode, Frances and Zach explore the indispensable role of community and corporate partnerships in achieving ambitious goals, focusing on various collaborative efforts that support student success such as internships and the 'In a Pinch' Basic Needs Initiative. Zach also shares personal stories about the longstanding relationship between his family and the school, highlighting the mutual benefits and societal impact of their initiatives. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University.fm.Eccles Business Buzz is proud to be selected by FeedSpot as one of the Top 70 Business School podcasts on the web. Learn more at https://podcast.feedspot.com/us_business_school_podcasts. Episode Quotes:Hunger and homelessness as hidden barriers to student successI mean, you think about just when you're hungry, it's hard to focus on much else. And I was looking up for the In A Pinch Pantry, the statistics. So, it says on there, two out of five students struggle to put food on the table. So, 40% of the kids in the university world are food insecure to a degree. And it's just amazing. 17%, it says, were homeless in the previous year. Like, these are basics, that it's hard to really focus on your academic career if you don't have the basic needs that have been met. So, it's just, unfortunately, we're not an exception at the U. And so, I have two kids in college now. And they eat a lot of food, especially the boy. So, there's a big need, a big requirement for all that, but also just as they've... you know, I've been, kind of, reminded of the whole experience of being in school. It's been a minute since I've been in there. And just the stress, you know, all those things that they have on their plate, food shouldn't be one of those issues. And so, anything we can do to help out with that. And I love what the In A Pinch Pantry is doing to hopefully resolve that need for a lot of these kids.How students are bringing fresh perspectives and making an impact at CR england[18:21]: At a broader level, the Eccles School has just been a great partner. As I was mentioning before, we just appreciate the relationship so much, but you all have allowed us to use some facilities for leadership meetings and made professors available to speak at some of these leadership meetings in their areas of expertise, and they've all been amazing. And so, it's just—there's a lot of different levels where we've benefited as a company from this involvement. But specific to the students and kind of the intern program that I was talking about before, we've been really impressed with them so far. And we had done a couple of finance projects, I think, two years ago, and same thing—just the quality of the kids was just very, very impressive. Of course, none of them come to us with any knowledge or understanding of the trucking industry—understandably so. Not many people have that. On building a culture of family and fresh perspectives[21:49]: One of our core values is we are family. So it's a little catchy and memorable, but it's become just a huge part of our culture that we treat each other like we're family. And so, I feel like we're doing some really good things there, but the infusion of new ideas, like I mentioned—fresh perspectives before—will only help that. And so, we're excited to see as this kind of develops further, the impact that they'll have.Why supporting the whole student creates a greater impact[23:52]:The more the students are well-rounded when they graduate, the better off they're gonna be, and the better impact that they're gonna have. And so, all these things that we're talking about definitely contribute to that. I've been thinking about just the social element of a university experience as well.I mean, it's where you can find lifelong friends and mentors and things that just benefit you in your life—no doubt.Shaping future leaders with skills, ambition, and hard work[29:16]: Frances:  What do you hope these students have when they leave and start the next chapter of their lives? Zach England: I think it's kind of a combination of the things that we've been talking about, with definitely the practical skills—you have to have that foundation. But the things that we've been talking about, all the social side of it, to where you can fit into the team—that's been, by the way, what we've heard about this MBA student is that he was just a natural fit right into the team. And so, being able to interact that way and communicate effectively is so important. And so, I think, you know, what we're talking about with internships and experience—getting experience—all builds to that and helps put someone in position to be that well-rounded leader. And you combine that with someone with ambition and hard work—that's the kind of person we're looking for. And I think we found one, like I mentioned, with this MBA student and maybe some of the others as well. And, as an employer, that's what we're looking for—kids with that kind of background.Show Links:Zach England | LinkedInZach England | Eccles Advisory BoardIn A Pinch | Eccles Basic Needs InitiativeExplorers Program | Goff Strategic Leadership InstituteDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

Season 8 continues with a conversation about the new strategic direction at the David Eccles School of Business with a particular focus on student success. Greg Goff is  founder of the University of Utah's Goff Strategic Leadership Institute. Greg is also the founder and president of GJG Energy, the CEO of Clear Technologies, and founder and CEO of Manifest Energy Transition Company.In this episode Greg highlights the importance of early leadership skills, experiential learning, and the overarching goal of preparing students to be successful faster. He also shares insights from his rich career and early beginnings in a family business, emphasizing his own early lessons in responsibility, ownership, and teamwork. Greg and host Frances Johnson also also discuss the expanded reach and impact of the Goff Institute, thanks to a recent generous $10 million gift, and the broader implications that has for the University of Utah and its students.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Eccles Business Buzz is proud to be selected by FeedSpot as one of the Top 70 Business School podcasts on the web. Learn more at https://podcast.feedspot.com/us_business_school_podcasts. Episode Quotes:Helping Students Succeed Sooner: Greg's Vision for the Goff Strategic Leadership Institute[7:52] What I observed at work was this desire that I had to fundamentally help young people, and it was very targeted to young people. Develop [them] and be better prepared for work, but we call it leadership, and leadership is a lot because it can be how you influence people in that. But we've, myself and the people that I worked with when we started developing this here at the university, [it] was to help them be better prepared. It was just this strong need with my personal beliefs that we could help people be prepared for work and today we call that "Be more successful faster" because it's not that they're not going to succeed, but we can help them be more successful and do it faster because of the experiences that we provide.On why Greg brings these transformative experiences to the university[10:58] One of the most important things that they need to do is to learn how to think. So you can be studying finance, you could be studying mechanical engineering, whatever, but you actually need to learn how to think and that's what the university can help prepare people for, no matter what area of interest that they have in their studies. [Next] the importance of being able to think you can do incredible things by being able to solve problems, capture opportunities,and you can do things differently and better than other people if you've learned how to do that.How the Goff Strategic Leadership Institute offers invaluable learning experience beyond the classroom[13:20]  But we would hope that, by being able to… it's not to simulate, but it's to get experiences that you normally wouldn't get in any university for a degree, that, by being able to have experiences and that hands-on experience that reflect the real world, you are in the real world and in an environment where you need to work with other people, you need to work with customers or business owners or whoever the sponsors are for the different types of projects, and that allows you to be able to get a good feel for what it's like. And you, kind of, think, “Well, that's, kind of, easy.” But if you don't get that, then you're going to go learn it on the job. And if you're competing with other people who've had that experience, you're actually disadvantaged, in a way, from that standpoint, because we're not talking about graduate students or people that have a number of years of work experience. We're really focused on younger people as they come out with their undergraduate degree. And being able to hit the ground running, I guess that's really the best way to describe it, is you're better prepared to hit the ground running.On overcoming imposter syndrome[15:48] Frances Johnson: Talk a little bit about how students can overcome maybe a sense of imposter syndrome or a lack of confidence that they actually are prepared to make that impact. When you're hitting the ground running, right, it's not just with the skills and the experience, but that confidence. How do you think students can develop that?[16:08] Greg Goff: Well, one of the ways that we all develop confidence is through experiences, and  one of the valuable benefits of being able to participate in experiential learning is you actually are gaining those experiences that then you can apply to it.  And so the more experiences that  we can help people with,  I believe the better prepared they will be for hitting the ground running. And as you said, Frances, have more confidence and people can see that young people are very prepared for what they're going to be able to do. That's why I think the experiential part of the time at the university, at the Eccles School complimented with abilities to be a good thinker is invaluable.Show Links:Goff Strategic Leadership Institute | LinkedInGoff Strategic Leadership Institute | HomepageDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

In this episode of the Eccles Business Buzz podcast, host Francis Johnson welcomes Ruchi Watson, Managing Director of the Goff Strategic Leadership Institute, and Maya Jolley, Director of Student Experience and Marketing and Communications at Goff.Together they discuss the importance of experiential learning in the student experience at the David Eccles School of Business. They delve into how hands-on learning opportunities set students up for post-graduation success, and how the Goff institute can assist students to land and succeed in their first internships. The episode explores diverse examples of practical learning, from internships to multidisciplinary team projects, and discusses the impact of strategic leadership in student development. With the elevation of the Goff Strategic Leadership Institute, these programs aim to extend their reach across campus and beyond, fostering a mindset of continuous growth and value creation among students.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:The Goff Institute provides unique experiential learning that goes beyond the classroom.[02:44] There's so many different methods of engaging in experiential learning. I think one thing that we try and really do here at Goff is provide that self-reflection for those students to say, “Hey, you're here on this campus, and there are more opportunities than maybe you even realize that you're already engaging in to practice and build your resume and build your life skills and learn more about yourself so that you can be better set up for success after graduation.”On building students' confidence through experiential learning.[05:33] 51% of Gen Z graduates are not feeling prepared to enter the workforce right now. So, a lot of what we're doing is trying to bolster that so that we can say, "You're growing in confidence, you're getting these experiences here so that when you go into the workforce, you really know already a little bit of what you're good at, what to expect, and then also can really succeed in your future careers."Impactful experiences that students won't find anywhere else but at Eccles School.[10:55] People don't understand necessarily, if I go to a classroom and I learn something, is that valuable? When you pair what you learn with how you do things, then that really is magical. And experiential learning takes you to that place of taking what you know and figuring what to do with it to make it valuable. And so, as we think about that, that is really game changing and something that isn't necessarily happening everywhere. It's really unique to the Eccles School to have experiential learning not only baked in to the core required classes, but a student who's interested in impact investing can go do something at the Sorenson Impact Institute. A student that's interested in, gosh, policy could go work at the Gardner Policy Institute. We have a number of different experiences that you really cannot find anywhere else that are right here at the Eccles School. And that makes us really differentiated and something that, to be honest, not only do we not see in other places, but as we've worked with consultants and other folks that have come in to evaluate what we do, they've said they're not seeing it elsewhere, either. So, it's really exciting to talk about the things that we're doing because you're really not going to find it at other institutions the way that we have it here.Maya discusses how experiential learning pairs well with leadership training. [17:06] I think really blending the leadership education with teaching the how and learning to do is so key and because our programs are multidisciplinary, you're getting engineering students working next to psychology students, working next to finance students to really tackle these huge strategic challenges that are faced by our community partners, which might be a one person startup all the way up to a multi-billion dollar company. So they're working together to tackle these truly, really amazing and nitty gritty and ambiguous challenges. And that is the real world, right? We're not going to leave college and be working on our own. I mean, sure there are certainly silos in the real world, but our own academic silos, we're prepping these students to be able to speak across disciplines to be able to understand the value of acknowledging our own strengths and then acknowledging the strengths of our team members. Show Links:Ruchi Watson | David Eccles School of BusinessRuchi Watson | WebsiteRuchi Watson | LinkedInMaya Jolley | David Eccles School of BusinessMaya Jolley | LinkedInGoff Strategic Leadership Institute | David Eccles School of BusinessDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

Season 8 continues with a conversation about the new strategic direction at the David Eccles School of Business with a particular focus on student success. Jessica Taverna is the Associate Dean of Undergraduate Programs at the David Eccles School of Business. Frances and Jessica explore the department's comprehensive approach to enhancing the student experience, including new programs, retention strategies, and the importance of developing durable skills such as communication, resilience, and critical thinking. Jessica elaborates on reimagined programs like Business Scholars and Rising Business Leaders, emphasizing the need to create an integrated student experience that prepares students not just for immediate academic success, but for long-term career accomplishments and personal growth.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:Jessica discusses what it means to have student success as the leading strategic priority in the planning process of the Eccles School[03:16] Looking at ways that we can involve students in faculty research. Involve students in the work that our centers and institutes are doing that are impacting the community or in corporate partners, but also have a space for students to be part of that experience. And that's really one of the great ways that we can leverage those things to enhance the student experience.Embedding students in a community[07:37] We really focus on the whole student and we really think about, how do we embed students in a community, which supports them in developing some of these other skills, like resilience, for example, that makes getting through the classes easier? It makes getting to graduation in a timely manner easier if you're also being supported and feeling like a whole person and a well person and someone who belongs to a community. And then that community experience, you're in classes with people, you're joining clubs with people, you're interacting with faculty and staff in workshops and luncheons, that then translates into your network, which I think is the other main thing that we deliver that is key to student success, is this group of people that are going to be, you never know who's going to be that person that's going to help you get that first job or the second job or the internship. [08:43] I think universities and the business school, the programming, both in the classroom and outside, creates this environment where you get embedded in a community and then that community becomes your network.Eccles School addresses the skills gap by equipping students with essential durable skills employers need[06:43] Employers highlighted one of the key challenges with what they're seeing with college grads is a lack of these durable skills. And I really love that term. We're talking about things like communication, interpersonal skills, even things like resilience, a little bit of grit, understanding how to bounce back from challenges, critical thinking, creativity, right? All of these things that we've, again, previously called soft skills, but are really core to life. And I love the term “durable” because I think it signifies, one, these endure through all aspects of your life. This isn't just even about your job. It's also things that you need in personal relationships. And if you're volunteering, other roles that you might have and they endure throughout your life. And so, a university education in a space like the Eccles School is differently positioned to actually do the work of building those kinds of skills in students.Equipping the students with a learning mindset to prepare them for the future.[34:55] I think the most important thing is mindset, and it's a learning mindset. What we need to be doing is helping students understand that at the end of the day, the most important thing is less that you've mastered a specific software tool or specific AI platform or model, but that you understand how these things work in general. Show Links:Jessica Taverna | LinkedInJessica Taverna | Faculty Profile at the David Eccles School of BusinessDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

Season 8 of the Eccles Business Buzz podcast kicks off with a conversation about the school's recent strategic planning process, and the newly identified priorities of student success, societal impact, and legacy and reputation.Allison Boxer is the James Lee Sorenson Presidential Endowed Chair in applied research at the Eccles School, as well as an assistant professor at the Department of Entrepreneurship and Strategy and the Sorenson Impact Institute. Allison played a key role in guiding the planning process of the new strategic direction of the David Eccles School of Business.Frances and Allison discuss the importance of strategic planning, the school's focus areas for the future, and the efforts to gather extensive stakeholder input. The episode delves into the three strategic priorities of student success, societal impact, and reputation and legacy, and outlines the ongoing steps toward implementation.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:Why having new strategic plans and priorities now is important for the Eccles School.[02:28] The real point of strategic planning is to bring clarity to what's most important to an organization and align everyone, staff, faculty, [and] students around key priorities so that we're all rowing in the same direction. And especially when an organization has a new leader, as we do with Dean Dirks, a strategic planning process can really help set the context and lay out the key priorities so we're all on the same Putting student success as the top strategic priority[10:41] I think our job or the job of strategic planning is to synthesize those [differing] perspectives. And we can't take every perspective, but there is a lot of coalescence into specific ideas. And so that's really what we're looking for. The other point of strategic planning is to make choices. We said at the beginning we can't be all things to all people. So, look at the context and all of the data and decide where it might be the best direction to go. These three, I'm really excited about these priorities. For the business school, the first and foremost is driving student success. That is number one. There is no question about it, and it is due to our mission. We are here for the students. The students are the reason we exist. I think the students are the reason every faculty and staff member comes to work every day. So, the students are central to everything we do at core to our mission. The key here is really helping every student seek and reach their peak. Creating future leaders who will make a lasting impact in Utah and beyond.[11:42] We are seeing across the country in a fantastic way, universities, higher education institutions, really taking on this second mission area, which is creating societal impact. For a business school in our setting, thinking about our context, it's really about extending our reach beyond campus to help people, businesses, and the economy thrive in Utah and beyond. We think of this in a couple ways. We think of it as an academic impact. The research has long-term impact on how things are done, as well as business impact and how, the number one way we do that is by creating amazing graduates who go into the workforce and the economy. But there's so many other connections that we can have beyond campus walls to really have an impact on the business community in Utah and beyond. How Allison envisions these strategic plans to be implemented. [23:40] I want the strategic plan to be dirty, not dusty. I don't want this plan to sit on a shelf and gather dust. It was a really cool exercise we did for that one year. I want it to be on people's desks with dog-eared pages and coffee stains as a sign that it's a part of their daily life and being referenced and that we're really using it. I think that's the key implementation as this document lives over the coming years.Show Links:Allison Boxer | LinkedInAllison Boxer | Faculty Profile at the David Eccles School of BusinessAllison Boxer | Sorenson Impact InstituteDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine

I'm so excited to welcome you back for Season 8 of the Eccles Business Buzz Podcast! In just a few short weeks, we'll kick things off with fresh conversations about the new strategic priorities for the David Eccles School of Business and how we're building on our successes to reach ambitious new goals.This season, I'll take you behind the scenes of our strategic planning process, explore how our programs and experiential learning are shaping confident leaders, and dive into the cutting-edge research that's transforming the world of management. Plus, I'll check in with Dean Kurt Dirks as he reflects on his first year on the job.The first episode drops March 27th, with new episodes every other Thursday. Be sure to subscribe wherever you listen to podcasts, and invite a friend or fellow alum to tune in with you. I can't wait for you to join me!

We conclude our series of conversations about Artificial Intelligence and how it's changing the world around us. Today's episode focuses on the use of AI by businesses, specifically as a sustainable competitive advantage, and why AI may not be the magic pill that it seems like at first.Here to help untangle the whole issue is Jay Barney. Jay is the Presidential Professor of Strategic Management at the David Eccles School of Business.Jay addresses common misconceptions about AI's ability to provide a competitive edge, likening its impact to previous technological innovations such as personal computers and the steam engine. He asserts that while AI can drive innovation and efficiency, it cannot by itself offer sustainable competitive advantage as it is widely accessible. Jay emphasizes the importance instead of unique organizational processes and the human element in maintaining a competitive edge, and discusses the potential pitfalls for early AI adopters. Frances and Jay also explore how businesses can leverage AI within the context of strong organizational processes and culture to generate real value.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:Will Gen AI be a source of advantage or disadvantage for firms?[02:51] We're not arguing that Gen AI is not going to have a profound impact on the way we do business. In fact, because the impact is going to be so profound, all firms will have to respond to it. And that's not likely to be a source of advantage by itself for any firm. That's the great irony.What benefits do companies gain in deploying Gen AI? [14:59] Jay Barney: There are millions of things that Gen AI can do. Most of them fall in a couple of big buckets, right? One of them is pulling costs out. And by the way, how are you going to pull costs out? By taking human beings out of the process. Now, that has huge social implications. This started by the way in the sixties with lean manufacturing. We're pulling people out and using automation robots and supply relationships and all those things. And it's a continuation of that long-term trend of reducing human contact in our business, which, by the way, points to how important that residual human contact is. The stuff that's left over, all this other stuff…[15:39] Frances Johnson: Gets even more important.[15:41] Jay Barney: Even more important. Exactly right. And another one is going to be an innovation.Skills students need in the age of Gen AI[17:15] Frances Johnson: As you think about the students you're teaching, the students we have at the Eccles School, our recent graduates and alums who need to make themselves competitive in that leftover 10%, what do you see as the skills or the capabilities that are critical for them to have?[17:35] Jay Barney: Well, this is not specific to this Gen AI conversation, but it's all about building socially complex relationships among individuals so they are willing to share, work together, [and] create ideas that only come out of those kinds of human processes. For example, "Go Gen AI, give us a list of seven toothbrushes." Great! "How do we make those?" Ask Gen AI. It'll give you 15 choices on how to get them made, how to distribute. But at some point, someone is going to have to make creative decisions about, "Is there really demand out there?" Gen AI doesn't know that because it can only analyze what is, not what might be. And so, that's going to require another set of skills that may be even more human in nature. So, I think that the ability to build a team, to generate a sense of commitment to each other, to the organization, its purpose, to inspire are sources of sustained competitive advantage. I have yet to be inspired by a Gen AI experience, amazed, shocked, amused, entertained, uninspired.Show Links:Jay Barney | LinkedInJay Barney | Faculty Profile at the David Eccles School of BusinessJay Barney | jaybarney.orgJay Barney | Amazon Author PageDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Eccles Experience Magazine

We continue our series of conversations about Artificial Intelligence and how it's changing the world around us. In today's episode, Frances talks to an AI engineer at Google about the ins and outs of the newest crop of AI models and agents.Joining the show to give an insider's perspective is Derek Egan. Derek is on the Vertex AI team at Google Cloud where he works on helping developers build generative AI-powered agents for their own applications. Derek is also a graduate of the David Eccles School of Business with a degree in Operations Management. David and Frances discuss the difference between models and agents, and why humans are still very much integral to the process. They address the strengths and weaknesses of these types of systems and the ways in which they might be used by organizations most effectively to help them work more efficiently. Derek speaks to the realistic worries of some AI critics and gives some of his own real-life examples of how AI agents help streamline his work life and personal life. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Derek Egan | LinkedInVertex AI | Google CloudMaster of Science in Business Analytics - The David Eccles School of BusinessDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Eccles Experience MagazineEpisode Quotes:Google Cloud invests in explainable AI and safety filters to build AI that benefits everyone[09:06] How can we build AI that's beneficial for all is a critical question. At Google Cloud, we take that really seriously for responsible AI. It all starts with a set of AI principles that translates into multiple things in practice as we build these products and up front and not as an afterthought. A few examples of that are ethical reviews. So,  internally, there are dedicated teams that essentially conduct  ethical analysis and risk assessments for any new product that's going to launch and their job is to identify potential biases. [09:57] We haven't been perfect here and no one has been perfect here because it's a process and we're all learning. And that's also why, as we gain learnings and learn how to interact with these models and how to control the types of responses, we're also building explainability into the models themselves. That's really important. AI will not take away your job but someone who uses it better might. 18:35 If I'm a student at the University of Utah right now in the David Eccles School of Business or an alumni, I would be pretty anxious about this, right? Like, hey, how does AI impact my job? What I would encourage people though, is to think about reframing that question.  And the way I reframe it is I don't think AI is going to replace your job, and I don't think you're competing directly with AI for your job. I do think you're going to compete with other people who can competently use AI to do your job and that will lead to disruption. That will lead to a change in the way that works done, day in and day out. So, my guidance, my invitation would be to try it out, embrace AI and start using it. See how it can make you more productive. See how it can take the nitty gritty tasks off of your plate and help you to automate them on your behalf.Derek shares a developer's guide for building AI applications.32:39 If you are a developer and you want to build an application, my guidance would be to identify something that's fairly low hanging fruit, fairly simple, where you're going to get started. And where it's going to be an interaction between the person and the agent and not something that's going to go run autonomously and not have the right feedback loop. And then you can measure and get a sense for how helpful is that agent, and then iterate on it. And I'd encourage you to check out some of the use cases. We have like 185 customer use cases on a blog post published from Google Cloud. But there's a bunch of examples out there and there's a bunch of documentation that we offer as well to help people get started.

We continue our series of conversations about Artificial Intelligence and how it's changing the world around us. Today's episode focuses on the use of AI in the financial sector and both it's potential strengths and weaknesses.Joining the show to help us start making sense of it all is Jessica Ellett. Jessica is a senior manager and lead modeler at Cambridge Technology, a financial services technology startup. Jessica is also an MSBA graduate from the David Eccles School of Business. Jessica shares her insights on developing AI-operationalized applications for large banks, highlighting tools like loan processing applications, financial report generation, and predictive trade outcome models. Frances and Jessica cover the concept of 'human in the middle' AI and the importance of human involvement in AI processes. Jessica also touches on concerns around AI bias, data privacy, and the critical need for business-led AI projects. Jessica also looks forward to what she predicts the landscape of her industry could look like in five years. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Jessica Ellett | LinkedInCTFSI - Cambridge Technology Financial Services Inc.Master of Science in Business Analytics - The David Eccles School of BusinessDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Eccles Experience MagazineEpisode Quotes:How the MSBA programme equipped Jessica to be a voice in the AI space[37:02]: When I first finished in 2018 with the MSBA program, I got multiple job offers afterwards when we moved here to Charlotte, North Carolina. And, often, it was kind of an undefined structure. Hey, what can you help us do? What can you help us know or ask? Help us do this in a better way, or help us ask the right questions. And so I think it's still young enough—I mean, the whole program, data science programs, MSBA programs—within the last 10 years, I would consider that a really young program. And so new talent coming out of those are going to be the thought leaders on how AI gets adopted and how these programs run at different companies. And think about that. So you come out of this program and you think, "Well, I don't know much. I just got this degree, or I don't have a lot of application." But people are willing to listen to you because you've had focused study on this topic more than they have, so for better or for worse, you're going to be a voice in that space.How AI works best with people by having the human in the middle[07:24]: Think of AI as the best assistant you've ever had, but you need the right systems or processes in place to interact with that assistant to get the most out of them, right? So, it's not just building or designing the perfect assistant. It's when am I going to use them? How am I going to use the output? How do I give it the right information to get out of it? What I want—all that interaction. That's human in the middle. You have to design that well to get the most out of it.Why do AI projects need to align with business goals?[41:18]: I'd say AI projects need to align with the business goals, not just tech advancements. You have a shiny new tool, and you want to use it but don't lose sight of what the business goal is. Using a shiny new tool could be expensive. If you suddenly have to build the whole machine that it fits with, that could get expensive. So, I'd say that transformation has to have a business-led approach because it has to align with the business goals. And if none of the business goals are ready or positioned to need AI—which is hard to believe—but it could be possible, then it doesn't fit in the plan or the goals.

Today we are starting our series of conversations about Artificial Intelligence and how it's changing the way we learn, work, and even play. AI is a hot topic with the potential to do a lot of good. But there are also a few pitfalls that we should all be aware of.Joining the show to help us start making sense of it all is Mark Sunday. Mark spent 20 years as the CIO at Oracle/Siebel, and prior to that role, he spent 10 years at Motorola. Retirement hasn't slowed him down one bit. He is still very engaged in the tech industry and currently serves on the boards of Vutility, Quantum Metric, Chassis, Kaltura, and 1440. He is also a member of the Eccles Advisory Board here at the David Eccles School of Business and was appointed by the Governor to Utah's STEM Action Center. He sits down with host Frances Johnson to dive into the evolution of AI technologies, the challenges of bias and discrimination in AI data, and the opportunities AI presents for enhancing human productivity. Emphasizing the importance of retraining and upskilling, this episode highlights the steps organizations and educational institutions must take to integrate AI into their curricula and work environments.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:Examining the risks of AI9:00 When I just type the word “Google,” it comes up with stuff that's relevant. Like, for me, I'm a big Michigan football fan, so Michigan football, AI, [and] a number of other topics. I like that it's showing me stuff, but I hate, hate that, based on what people have demonstrated they like,  it's really limiting what information and news and opinions that people get to experience. So, I think it's created an incredible amount of divisiveness  within our country. While data can buy a bias, but also using real data, and then just repeating patterns, whether it was hiring male engineers,  whether it was  suggesting that Black inmates are more likely to create repeat crimes  or just creating a filter bubble where we're only exposed to opinions that support or reinforce opinions that we've had, I think is hugely problematic.How should individuals and institutions respond to the rise of AI?11:42 We've always faced this, whether it be computers or the internet just has to change. Yes,  jobs are eliminated, should be eliminated.  It was underemployment to have people pump your gas, and then, when it became legal in all states except for Oregon, until very recently to be able to pump your own gas, I look at that as underemployment when people aren't reaching the potential of the contribution that they can do.  So, what's going to happen is roles are just going to have to change. We need to be aware of that. As individuals, we need to take personal responsibility. But also, as organizations, we need to invest in retraining because there are a lot of new jobs that are created—AI trainers, data scientists, ethics officers. But we're going to have to upskill and adapt.Despite the risks, Mark urges students to embrace AI's game-changing potential.21:11 We need for our students to be the very, very best at leveraging this technology. It's game-changing. It's as if calculators came out, and when I went to school, nope, we're going to have to select the slide rules, or computers came out and it's going to do the work for all of us, or the web came out and now people can do Google searches.  This is far, far bigger.  In fact, when we are recruiting for our new dean for the business school, I'm convinced that higher ed will change more in the next 10 years than it has in the previous 100. And AI is going to be the reason for that. And so, as we think of what we're going to be as a business school, as we think of what we're going to be as a university, we need to be prepared for this huge, huge transformation.Show Links:Mark Sunday | LinkedInOracleKahlert Initiative on Technology - The David Eccles School of BusinessSTEM Action CenterDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Eccles Experience Magazine

We are wrapping up our series of conversations with the Kem C. Gardner Policy Institute's 2024 Informed Decision Makers. Every year, the Kem C. Gardner Policy Institute at the David Eccles School of Business recognizes individuals and entities that contribute to the prosperity of our community here in Utah, often performing important work behind the scenes and without much recognition. Joining us today is Ross Van Vranken, the former executive director for the Huntsman Mental Health Institute, which is part of the University of Utah Health System. The Huntsman Mental Health Institute is a multi-million dollar enterprise supporting a behavioral health care system anchored by a 170-bed acute psychiatric and substance use hospital.In this episode, host Frances Johnson sits down with Ross to discuss the evolution of the mental health conversation, the importance of treating mental health with the same urgency as physical health, and the critical issue of access to mental health care. Ross shares his insights on the economic implications of untreated mental health issues, the impact of the social environment on mental wellness, and the transformative vision of the Huntsman Mental Health Institute. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:On defining what mental health is[05:12] When you're talking about mental health, you're talking about well-being, that sense of well-being. I'm okay. And I know how to navigate the problems in my life, and I get through it, and I have an adequate amount of resiliency and reserve to take on struggles. I ask for support when I need it. I'm willing to talk about what's going on with myself. And that's really what it is, just that sense of well-being. That's what mental health is where you're able to engage in your life in a way that represents who you are and what you want to do. The transformative vision of the Huntsman Mental Health Institute. John Huntsman's legacy is council. The nine children looked around and they've had mental illness in the family and substance use disorder in their family, and they wanted to make this their legacy. To actually change mental health on a national level across everything, including, uh, looking at policy reform on a federal level, payment reform, access to care, uh, best practice, specialty, personalized care, all those kinds of things. a big part of that, so what they're funding right now is this Stop Stigma campaign, which is a national campaign that's intended to go out the next 10 years. What contributes to the mental health crisis?[21:18] Mental health is the number 1 disability in the world now. And so part of what contributes to all that, as you know, is the whole social environment, particularly kids. How do you interact with your peers? How many people get bullied, isolated from the rest of the pack, don't feel like they belong early on and how that carries through. So, creating an inclusive environment where people just get accepted for who they are, and they can be a part of the overall social contract without having to be the popular kids or whatever, you can be whoever you are and fit into that is a critical piece. And of course, we all know that there are these different benchmarks that really require a lot of going from elementary to junior high, junior high to high school, high school to college. It's a critical thing. The more you can do to create that kind of wellness environment and inclusivity of everyone, the better, because we're social animals and what contributes as much to mental illness as anything is isolation. Show Links:Huntsman Mental Health InstituteRoss Van Vranken | University of Utah HealthRoss Van Vranken | LinkedInDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram 

Today we are continuing our series of conversations with the Kempsey Gardner Policy Institute's 2024 Informed Decision Makers. These are individuals and entities that are recognized for their unique contributions to the prosperity of our community here in Utah.Here today to get a little bit of the fanfare they deserve are Jerika Mays and Dr. Mark Johnson from the Seager Memorial Clinic.  The clinic's mission is to provide underserved populations and individuals with easy-to-access, nonjudgmental, medical, dental, vision, and mental health care. Everything the clinic does is 100 percent free to everyone seeking care. Jerika serves as the Executive Director of the Seager Memorial Clinic and Dr. Mark Johnson is Vice Chair of the Clinic's Board as well as the Clinic's Volunteer Medical Director. Listen in as Jerika, Dr. Johnson and Frances discuss the vital role of the Seager Memorial Clinic in providing free, nonjudgmental healthcare to underserved populations in Utah. Our guests highlight the significant barriers to healthcare access and how the clinic addresses these challenges. We'll also explore the clinic's volunteer-driven model, the economic and social impact of healthcare access, and plans for expansion. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:What it means to receive nonjudgmental healthcare according to Dr. Mark Johnson[Dr. Marc Johnson]: 19:05: We don't screen patients at the front door or the front desk to try to determine what their financial situation is. So, we don't ask, do they have insurance, do they have Medicare, do they have Medicaid? What's their demographics? We don't ask for W-2 forms. We don't ask for citizenship documentation, et cetera. So, in that regard, we just take all comers. Patients don't have to worry that they have to produce a lot of documents, you know, to prove that they are in need.I guess the second part would be the volunteers not judging the patients for, you know, why they are there. There are people there for lots of different reasons. We do see a fair number of patients who have addictions. We see a fair number of patients who are homeless. We see some patients who have just come out of prison. We see patients who speak different languages, come from different backgrounds, some have insurance, some don't. And I think the culture is that we accept them for who they are and withhold judgment. So, I think that helps patients feel welcome because I think, in a lot of cases, those circumstances, you know, they may feel judged before even being seen.Making healthcare more accessible to the community[Jerika Mays] 14:02: I think it's easy for patients who don't have insurance to put off their health. You know, they might need to be seen, but they put it off because they don't have a point of access or they aren't in a place financially to afford it.Even if they do have insurance, maybe the copay is a barrier, right? So, patients might often put it off until it becomes an emergency and they might go to the emergency room. And at that time, it can be a real financial challenge because that can be a big cost for the patient and their family. So, I think by making it more accessible, they feel more comfortable coming to us in those early stages and receiving care before it becomes an emergency.Plans for expansion: Creating more space to serve more people[Jerika Mays] 27:27: Something we're very excited about is we're in the process of transforming Ogden's former Family History Library on 24th Street into our new home, where we'll have much more space to expand our services, expand our hours, and see more people in the community. The space is over 7,000 square feet. And we'll include nine exam rooms, a dental suite with three dental operatories, a Class A charitable pharmacy, a room where we can start offering group classes like diabetes management or mental health wellness. We'll have three spaces dedicated for mental health therapy in the future. So, I feel like this space is really going to be a game-changer for our community.Show Links:Seager Memorial ClinicBoard and Leadership - seagerclinic.orgJerika Mays | LinkedInMillion-Dollar Murray | The New YorkerDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram 

The mission at Circles Salt Lake is “building community to end poverty in Salt Lake County.” They do this by building bridges of friendship and community that support individuals and families on their journey from surviving to thriving, ensuring that everyone they work with has enough money, meaning, and friends to thrive.Leading this critical mission is Executive Director Michelle Crawford. Starting out as a volunteer in 2017 and working her way up to run the organization, Michelle is a passionate and kind member of our community, working fiercely to help those with less.In this episode of the Eccles Business Buzz host, Frances Johnson sits down with Michelle to discuss eradicating poverty through community building, intentional friendships, personal transformation, and systemic change. Michelle shares insights on the challenges faced by people living in poverty, the role of social capital, and the importance of community support in achieving financial independence. The episode also highlights the significance of volunteers, the impact of economic instability on the community, and practical steps for fostering economic empowerment. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Show Links:Michelle Crawford | LinkedInCircles Salt LakeTeam - Circles Salt LakeUtah Department of Workforce ServicesEpisode Quotes:Being in the Circles program empowers participants to dream and forge their own path.07:35: Once somebody starts their Circles journey, they're going to start with the 12-week training. So, we do this as an introduction to what Circles is and to provide some training around just the understanding of poverty. So, they may be living it, but there's a lot that comes along with that, the social norms of the different income classes. And then they learn the things that we all want to learn, right? Budgeting, goal setting. We teach them to dream and pursue those dreams. And one of our sections of that 12-week training is dream boards. So, we're not here to tell them what their life looks like on the other side of poverty or how to get there. We're here to empower them, to support them, to say, what do you think life looks like for you on the other side of poverty? And then we build that social capital and the resources and the support around them to help them pursue those goals that they've set.Persistent poverty can perpetuate cycles of intergenerational poverty.18:37: When part of our population struggles with persistent financial instability, you can imagine the cost is significant. Financial instability leads to increased demand for those social services, higher health care costs, and even reduced productivity. All of these things strain our public resources.When individuals are unable to fully participate in the economy, it stifles our local business growth and reduces the overall economic activity. Persistent poverty can also perpetuate these cycles of intergenerational poverty, leading the long-term economic challenges for our community. And so, another area that Utah is unique, I mean, in a lot of great ways, and one of those is that our state's poverty level is lower than the average national poverty level. But we have a pretty unique high number of intergenerational poverty, which means this cycle that continues. So, for us, we know that investing in financial stability for all members of our community not only improves individual lives, but it strengthens the overall economic health and vitality of the community.Hope and dignity are deeply intertwined with financial independence.26:38: When individuals have hope, they believe in the possibility of a better future, and then they're motivated to take the steps towards achieving financial independence.The sense of hope can inspire perseverance, innovation, and then the willingness to seize those opportunities that lead to greater financial stability. Dignity, on the other hand, comes from the ability to support oneself and one's family without relying on others. So, financial independence then restores this sense of control and self-worth, allowing individuals to participate fully in society with confidence.

So much of our lives are spent in a car. Whether it's driving to work, scooting around kids to friends houses and other activities, or running to the post office, we really are stuck in a car-centric culture. But today's guest is trying to get us out of that rut, one bicycle at a time.Donna Matturro McAleer is the Executive Director of Bicycle Collective, a group of non-profit bike shops refurbishing donated bicycles and putting them into the hands of those in need, focusing on children, Newly resettled refugees, immigrants, individuals experiencing homelessness or housing insecurity and more.In this episode, they explore the broader economic, environmental, and community impacts of making bicycles accessible as a form of sustainable transportation. We'll also hear about the Bicycle Collective's programs, sustainable business model, and pandemic growth.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Show Links:Donna Matturro McAleer | LinkedInDonna Matturro McAleer | 2024 CEO of the Year - Utah BusinessBicycle CollectiveDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Episode Quotes:In a car-centric country where transportation poses significant barriers to economic stability, bicycles emerge as a transformative tool. [03:32] If you think about it, Frances, In Utah, in our country, we are a car-centric country. But if you think about transportation, transportation is a formidable barrier to economic mobility. Access to nearly everything associated with economic progress and upward mobility, whether that's getting to school, getting to a job, getting to a job interview, fairly priced goods and services, medical services, healthcare, depends on the ability to get from one place to another efficiently and in an affordable manner. And that's where a bike can really be a transformative tool, especially in a place like Salt Lake City and throughout this state where so many resources may be concentrated within a few miles.Choosing a bike over a car can cut your carbon footprint by 67% and transform communities[08:22] Choosing a bike over a car just once a day reduces the average person's carbon footprint from transportation admissions by 67%. So, that's just once a day. Think about if you use it as your primary form of transportation, a moderate increase in bicycling each year could save 6 to 14 million tons of carbon dioxide. So, there's huge, huge impacts that bicycling has on the individual, on the community, on the economy, and on the environment, all in a positive way. It's not a trade off of one or another. We get to experience all those things with biking.Bicycle Collective is a resource for everyone[20:16] Bicycle Collective is really for everyone. Whether you are a first-time cyclist or maybe you want to try a new discipline, but you want to get in at an affordable level. So, maybe you never tried mountain biking and you want to get a mountain bike or you want to start road riding or, hey, I've been road riding, I've been mountain biking, but I want to be a bike commuter. We are a great resource for cycling enthusiasts, first-timers.

Our guest today calls herself an “unabashed promoter of Utah,” and has the resume to back it up.Theresa Foxley is a Utah native, and has spent her career championing economic growth in Utah and serves her community through numerous boards and initiatives. For example, Teresa's commitment to business recruitment as the President and CEO of the Economic Development Corporation of Utah brought numerous corporations to the state, with an eye on the distribution of economic impact for the entire state, especially rural Utah.Theresa is currently Chief of Staff to rPlus Energies, a national leader in utility scale, renewable energy, and energy storage development.She chats with host Frances Johnson this episode all about Utah's future in renewable energy, starting with the state's unique demographics, infrastructure, and economic strengths. Teresa shares insights on large-scale renewable projects, the balance between growth and environmental stewardship, and the promising intersection of renewable energy and economic development in rural Utah. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Show Links:Theresa Foxley | LinkedInrPlus Energies on LinkedInrPlus Energies WebsiteDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram Episode Quotes:How renewable energy bridges the gap between Utah's economic growth and preserving the quality of life[05:11] It is really important that we preserve these incredible assets that we have, these beautiful physical natural assets that we have as a state. I heard, over and over again, when I was leading the economic development organization, Economic Development Corporation EDC Utah, from employers that, gosh, I knew I would find a great local workforce in Utah, but I'm so pleasantly surprised at how easy it's been for me to recruit people in from out of state. I see it myself here now, being on the leadership team of rPlus Energies and being involved in our recruitment, how enthusiastic people are about, either, relocating to Utah or how happy they are to be able to, now, have a job in renewable energy in the state of Utah to be able to stay here. We do have a number of team members who found their way to rPlus Energies via another state and who seem to, kind of, say, "I never thought I'd be in Utah, but now I never want to leave."While renewable energy may create fewer jobs than thermal power plants, it brings significant benefits to local communities.[Frances Johnson] [20:56]: In rural Utah, in particular, what is the economic impact of bringing these projects online?[Theresa Foxley]: It's pretty significant. The Green River Energy Center with an over $1 billion capital investment really means significant impact to local property tax revenue. And this is property tax revenue that can be utilized by the taxing entities, the county, the school district, et cetera, to invest in roads, libraries, schools. There's a very significant injection of talent. During the construction process, we'll have some 500 workers on site at peak for the Green River Energy Center. And though you're correct in that the generating facilities for renewable energy projects don't tend to have the same number of jobs attached to them as maybe a thermal power plant, there are a number of other ways that these projects do benefit local communities, again, through their construction, through local design, engineering, consulting work, law firms, others that are hired to help to go and help support and to put together the project financings and the construction of these projects.The future of renewable energy in Utah[27:54]: And I just see Utah continuing to lead on this. We have all of the ingredients to be successful leaders in this future energy space because of the abundance of energy resources that we've had, whether those have been resources that come from underground or above ground, like solar and wind. I see a really bright future for Utah and energy development here in the state.

Welcome back to our 7th season of the Eccles Business Buzz! And what better way to kick it off than with our new Dean Kurt Dirks.Dean Dirks started his role just a few months ago, on July 1st, 2024. Prior to joining us here at the Eccles School, Dean Dirks was the Bank of America Professor of Leadership at the Olin Business School at Washington University in St. Louis. In addition to serving as a faculty member, Dean Dirks served in multiple senior leadership roles at WashU, including as Acting Provost, Senior Advisor to the Chancellor for Leadership, Vice Chancellor of International Affairs, and as Senior Associate Dean and Interim Dean at the Business School. Kurt sits down with Host Frances Johnson to share with us a bit about his journey as a first-generation college student, the critical role of public universities, and the importance of creating a culture of belonging at the Eccles School. Dean Dirks also discusses his vision for business impact, the significance of ethical leadership and trust, and the evolving landscape of business education and AI at Eccles.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The significance of ethical leadership and trust in shaping our approach to emerging technologies like AI [Dean Kirk Dirks] 22:01: We have a responsible AI initiative at the U, which is thinking about this, not just at the business school, but across the entire university. And so, it's something that we are a part of, our faculty are a part of, and thinking about that.On the other side of it is certainly thinking about helping our students understand their values. And when those values get challenged, how do they respond to them? Certainly, something important about being leader in whatever way we think about that, that term is really understanding your responsibility in society, in business to try to make the world better and how that applies in, you know, day to day life. And so, that's certainly one of the areas where I hope we can get each of our students to think about, that their role as a leader in society, making the world better and how that is steered by their values and their purpose.[Frances Johnson] And again, this idea that everything is business, right? We're not just learning to crunch numbers. We're not just learning to analyze data, but we're really thinking about, what's important to me? How can I bring that to an organization? How can I seek out organizations that align with that? And then how can I make a positive difference? So, the interconnection really continues.[Dean Kirk Dirks] Very powerful. There is no doubt that, if we help our students along all those facets, again, the values, the quantitative and economic skills that they have and the business mindset, I think we're going to serve them well for their life and career.How building trust can foster a unified community[Frances Johnson] 07:25: What role does trust play as we really try to build a cohesive community at the Eccles School where everyone has a place?[Dean Kirk] 07:44: In terms of the role of trust and how that fits with them, when we think about earning that trust, it really is around three things. And I think it speaks to this notion. One is a sense of competence and capability, that we have the knowledge and skills and support to really help them be able to succeed at what they want to do. Second is we talked about character, that piece of values that is important to allow students to feel a connection and that our values are consistent with theirs. And then the last piece, which really speaks directly to this is caring, that, often, when people want to be able to trust someone, they want to know that, we think about them and care about them. And I think that's a really important part of this set.Dean Kurt shares a piece of advice he wished he had when he was starting his college journey30:22: One of the most wonderful parts about being a university student is that self-discovery. You're certainly learning a lot about business, but equally important, learning a lot about yourselves and new paths. So, go out and try something new this semester. Meet a new group of people, try a new experience at the U, something that you may not have done before. And perhaps, you'll get a surprise that maybe it becomes your future.Show Links:Dean Dirks - The David Eccles School of BusinessKurt Dirks | LinkedInInstagram Post from Move-in Day 2024 at the US4E1: Helping Companies Do Good While Doing Well feat. Jim SorensonS6E7: Driving Economic Inclusion Through Entrepreneurship with the Eccles MBC w/ Rena Vanzo & Paul BrownDavid Eccles School of Business (@ubusiness) • InstagramEccles Alumni Network (@ecclesalumni) • Instagram 

Season 7 of the Eccles Business Buzz Podcast is just around the corner, and we are so excited to welcome you back. I'm your host, Frances Johnson. Join me this season for an introduction to the new Dean of the David Eccles School of Business and a series of conversations with the Kempsey Gardner Policy Institute's informed decision-makers of the year. We'll hear about how renewable energy and free bicycles are contributing to Utah's economic recovery and vitality, why accessible medical and mental health care is more important than ever, and how building community can help end poverty. We'll also explore one of the hottest business topics out there: AI. The first episode of Season 7 drops on September 19th with new episodes coming every other Thursday. I know you won't want to miss a single one, so make sure to subscribe wherever you listen to podcasts and invite a friend or fellow alum to listen with you too. We can't wait for you to join us again!Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In one of these standout episodes, we delve into the ongoing debate about the value of a bachelor's degree. Despite the rise in scrutiny of bachelor's degrees, research shows that having access to college is a key indicator of future economic and financial success as well as physical and emotional well-being. Studies show that people with bachelor's degrees have 57% more job opportunities than people with high school diplomas, and 60% of workers with bachelor's degrees reported being highly satisfied at work, while only 38% of workers without college degrees reported being highly satisfied. If a degree can play such a pivotal role in someone's overall future success, how can access to college be expanded so that students can not just get in but thrive while they're in school and graduate? Tara Hardison, assistant dean for undergraduate programs at the David Eccles School of Business, works on that question every day. In this episode from Season 6, she joins host Frances Johnson to chat about the real-world impacts a college degree can have on someone's life, the ways Eccles is helping first-generation and low-income students, and why that support doesn't end after students have been handed a degree. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:First Ascent Scholars Program Opportunity Scholars Program Tara Hardison | David Eccles School of Business

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from Season 5, we will talk about some solutions, and how the Eccles School is working to prepare women – and all students – for a more successful and equitable workplace experience.With us in this episode is Katie Abby, Special Advisor to the President of the University of Utah and Assistant Dean of Business Career Success and Corporate Outreach at the David Eccles School of Business. An experienced staffing executive, Katie graduated from the U in 1984 and, in 1990, co-founded VISTA Staffing Solutions, where she served as COO and then President. She transferred her skills as an entrepreneur to build a professional placement firm at the Eccles School and is now scaling this program to other colleges on the University of Utah campus. Katie sits down with host Frances Johnson and chats about building confidence, becoming comfortable with the uncomfortable, practicing empathy in the workplace, and what millennials and boomers can learn from each other.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Katie Abby | Eccles School of Business Bio Katie Abby | LinkedInVISTA Staffing Solutions 

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from Season 4, Simone Lawrence, manager of the IMPACT program at the David Eccles School of Business, discusses impact and inclusion. IMPACT is a partnership between the Eccles School and Historically Black Colleges and Universities to bring these students to the U for the summer. The goal of the program is to expose participants to new experiences and show them the difference they can make in places they didn't expect.  Simone joins host Frances Johnson to talk about having a real opportunity to make a difference during her internship with PluralSight, her hopes for the IMPACT program as Manager, navigating Utah as a person of color, and working with companies to implement meaningful DEI initiatives.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:IMPACT Program PluralSightSummer Bridge Program at the U Lantern House

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from Season 3, we'll be talking not just about curiosity but also about how pursuing our curiosity can help prepare us to make a positive and lasting impact on the people and the communities around us.That's just what Sadie Bowler has been doing. As a sophomore at the David Eccles School of Business and a resident at Lassonde Studios, Sadie is also running SadieB Personal Care, a personal care brand with a goal to empower Gen Z girls and change the health and beauty industry. She chats with Frances about creating a beauty brand that speaks to Gen Z girls like her, having an in-house mental health expert on her staff, SadieB's partnership with Girls Up United Nations Foundation, and how she is growing her business at Lassonde. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Sadie Bowler | LinkedInSadieB Personal Care's Website

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from season 2, we have Jolly Karungi, a graduate of the David Eccles School of Business and Eccles student of the year in 2020.During her time at the Eccles school, she participated in the Business Scholars and First Ascent programs in addition to a variety of other student organizations on campus. She graduated with a major in Information Systems.Jolly was born in the Republic of Congo and lived in a refugee camp in Uganda for several years before coming to Utah. She shares the struggles she had to endure living in different environments and the difficulties navigating systems without knowing how to speak the language. However, her passion for learning and adapting together with perseverance helped her overcome the challenges.Jolly also tells her plans after graduation, her future goals, and what excites her the most in going back home where her family is. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:LinkedInBusiness Scholars ProgramFirst Ascent Scholars ProgramCotopaxi Foundation

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from season 2, we have the honor of chatting with Gail Miller, President and Immediate Past Chair of the Larry H. Miller Company. Gail also oversees the Larry H.Miller Education Foundation and the Larry H. and Gail Miller Family Foundation. Gail shares with us details about her upbringing and what it was like to grow up in a large family where money was often tight. Listen as she tells us how she persevered through the challenges in her life - from being the supporter of her family to being a wife and mother and ultimately stepping to a new role of becoming the owner of a large company. We can all resonate with the biggest obstacle in Gail's life - fear. It's the reason she wrote her book, Courage to Be You: Inspiring Lessons from An Unexpected Journey. It's compelling how she overcame fear through faith and perseverance.We also hear why Gail got involved with the university community and what inspired her to get connected to higher education. She also has some pretty good advice for women who want to transition from being stay-at-home mothers to the workplace once again. Finally, we get to know the future of Larry H. Miller Group of Companies and what Gail hopes her legacy will be.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Larry H. Miller Group of CompaniesCourage to Be You: Inspiring Lessons from An Unexpected Journey

While waiting for the newest season launching this fall, we have something special planned for your listening enjoyment. Get ready to revisit some of your favorite Eccles Business Buzz episodes with our timeless reruns.In this episode from season 1, we hear from Greg Kennedy who graduated from the Eccles School in 1987 and is one of our most dedicated Eccles advisory board members. Greg recently retired as Senior Vice President of Airport Operations at Delta Airlines where he was responsible for some of the busiest airports in the world including our very own Salt Lake International.Greg walks us through his family story and his experiences growing up, wrestling to go to college, and how he ended up at the University of Utah and eventually, the Eccles School.He narrates his extensive experience working in the airline industry, some of the ups and downs, dealing with major crises like 9/11 and COVID-19, and the importance of leadership through it all.Greg shares his definition of empathy and how his perspective has changed throughout his career. He also talks about the great attributes of a leader/mentor and the importance of having the right people to guide you in your journey.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Show Links:Greg Kennedy | LinkedIn

Despite the rise in scrutiny of bachelor's degrees, research shows that having access to college is a key indicator of future economic and financial success as well as physical and emotional well-being. Studies show that people with bachelor's degrees have 57% more job opportunities than people with high school diplomas, and 60% of workers with bachelor's degrees reported being highly satisfied at work, while only 38% of workers without college degrees reported being highly satisfied. If a degree can play such a pivotal role in someone's overall future success, how can access to college be expanded so that students can not just get in but thrive while they're in school and graduate? Tara Hardison, assistant dean for undergraduate programs at the David Eccles School of Business, works on that question every day. She joins host Frances Johnson to chat about the real-world impacts a college degree can have on someone's life, the ways Eccles is helping first-generation and low-income students, and why that support doesn't end after students have been handed a degree. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Access critical to business education[08:32]: Access is so critical for what we do here, and when we talk about a business education, we've got a large chunk of business-specific courses, but it's nestled in a broader liberal arts education, which does a lot for our students in everything that they'll do. We are teaching them about business fundamentals and practices in a series of topical areas. Finance, accounting, operations, right? We've got a series of majors. But the liberal arts piece is incredibly helpful, too. We absolutely teach critical thinking in our business education, but they learn these valuable skills in other aspects of humanities and social sciences, as well as their business-specific curriculum.What got Tara into academic advising?[24:06]: This is a 100 percent why I got into student affairs and why I started in academic advising. Because when I thought about what I wanted to be or, like, what I could do and how I could make an impact, I was like, "Oh, advising. Like that is the single most important impactful thing." And so I am incredibly passionate about our students' experiences, and I'm incredibly passionate also about our staff experiences, right? Because I don't think we can have good student experiences if we don't have good staff experiences and faculty experiences, right? We really think about the ecosystem, not these sort of different groups of what makes our ecosystem in silos necessarily.What makes David Eccles Business school unique? [12:48]: I think one of the things that makes us the strongest in the David Eccles School of Business is our ecosystem, in that it does not just include staff, faculty, and students; it really is a much broader ecosystem of our alum and the broader business community, which is something that makes us unique.Show Links:Eccles Basic Needs Initiative First Ascent Scholars ProgramOpportunity Scholars ProgramTara Hardison | David Eccles School of Business 

According to the U.S. Chamber of Commerce, small businesses employ nearly half of the American workforce and represent 43.5% of the country's GDP. However, not everyone in the American economy has the same access to the tools and resources needed to launch and sustain a new business successfully. The Master of Business Creation (MBC) program at the David Eccles School of Business is working to address some of these gaps by offering a degree program committed to helping entrepreneurs grow their startup companies. Paul Brown and Rena Vanzo will join me today to discuss the program and its impact on creating equitable opportunities for entrepreneurs. Paul Brown is Co-Director of the Master of Business Creation program at the Eccles School.  Rena Vanzo is a graduate of the Executive MBA at the Eccles School and is currently enrolled in the Master of Business Creation program. She is the founder of The Boob Bus, which offers mobile breast imaging services.They sit down with host Frances Johnson to explore the MBC program's unique approach to entrepreneurship education, combining aspects of an accelerator with an accredited master's degree program and focusing on practical, immediate application of business concepts. We will also hear how the MBC program helps founders from diverse backgrounds to develop successful businesses. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:When people create jobs they also create value[11:55] Paul Brown: I really am just a firm believer, Frances, that when people create businesses and create jobs, wherever they are, they're just adding to the overall productivity and wealth of a society. And it's a miracle to me, and I love it, whether it's a nonprofit dance company in Rose Park, a software company in Chicago, Rena's company here in Utah, the Boob Bus, or somebody having a food products company in Botswana. They're creating jobs; they're creating value. People are trading money for the products and services they have, and they're getting satisfaction and value out of that. So, I just want to continue to help hundreds and ultimately thousands of entrepreneurs create businesses that make our lives better. It's amazing. I love it.Business is impactful in a positive way[21:44]: Paul Brown: I believe business is inherently impactful in a positive way. So I'm not one of these people who believes that markets, capitalism, and free enterprise are somehow icky, and the only way they can be good is if they're explicitly pursuing a social purpose.Running a business can not only contribute economically but also to the community[16:45]: Rena Vanzo: The health impacts and potential health improvements of the Boob Bus, I think, are exponential, and they're really exciting. We literally launched within the last week. The bus was here. We've started seeing patients, and so far, 90 percent of my patients are women who have never had a mammogram before. They've called, and they've said, I haven't felt comfortable going, or it's been harder for me to get to the hospital. Simply the access that the mobile environment provides, and I think just the welcome atmosphere of a more outpatient facility that doesn't even feel like a clinic, you know, that isn't affiliated with a hospital, is a really big deal.How MBA gave Rena confidence [23:17]: Rena Vanzo: I think my MBA gave me some confidence and maybe develop that knack for me, but it's like the MBC; I'm developing the blueprint for my business that probably would have taken me years to do on my own, frankly.Show Links:Master of Business Creation (MBC)Paul Brown | David Eccles School of Business, University of UtahPaul Brown | LinkedInRena Vanzo | LinkedInThe Boob BusThe Boob Bus - InstagramThe Boob Bus - facebookThe Boob Bus | LinkedIn

In today's episode, we're focusing on the role of higher education in creating lifelong economic opportunities. Research shows that the average college graduate is 24% more likely to be employed than their peers who have only completed a high school degree. At the same time, college is not accessible to everyone. According to the National Center for Education statistics, over 85% of college students receive some form of financial aid. Here to talk about the role of scholarships in increasing college access and lifetime economic opportunity is Mbe Agbor.Mbe spent his career in the consumer packaged goods industry where he worked for Unilever and Reckitt. Mbe now invests in real estate and small start-ups. He also owns and operates Sosega Nigeria FZE, a cashew farming and processing operation in Nigeria.MBE earned his BS in marketing and business management at the David Eccles School of Business and earned an MBA from the Eccles School in 2001.Mbe and host Frances Johnson will delve into his personal journey and how his family influenced his pursuit of higher education, the added stress of overcoming financial barriers, and Mbe's belief that college is a great equalizer, providing students with the confidence to pursue their ambitions.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The impact of meeting your scholarship donor[11:55] When we talk about what kind of impact we could have in the lives of young people, we could all give something. It might not be money, right? It might be time and these resources, just to the fact that we just have more road miles than these college students and we've seen and maybe been through some pitfalls, that we can give a little bit of advice and be a sounding board.That was a part that I really enjoyed, even though I got to see Jack once a year. It was great; he asked about how school was going, and it was just great to talk to somebody that is directly involved in and invested in my future and my success.Real happiness comes from contributing[24:05]: I think this whole thing comes down to being happy. I think we substitute education for that and substitute money for that. We substitute a whole bunch of things for that. But at the end of the day, when we get to achieve the things that we set out to achieve, yes, happiness is quantified by a certain income level, but once we reach that, we don't have to worry about food for shelter and safety and have a car that works and things like that, and we're able to be happy, and not only happy, I want to be happy, but also happiness also comes from contributing, and so if that happiness can be shared by giving of themselves, whether financially or their time to someone else that needs a boot, then no matter where they go in life, no matter how successful they are, if they're happy and are contributing, that's making it right. That's being successful in life.Mbe's biggest takeaway from college [23:17]: College gave me the confidence to know that the only limit is me, and that's probably the biggest takeaway I took from the experience.On pulling yourself up by your bootstraps[09:05]: I think one thing that people don't realize is that there are a lot of people who don't have boots. And everybody just assumes that everybody has boots to pull themselves up by. And really, I think what scholarships do is give everybody boots, or bootstraps, I guess. I think once we get to the playing field, people can show what they're capable of. But if we can't even make it into the stadium, right? How is somebody going to get an opportunity to perform?Show Links:Black History Month - The David Eccles School of BusinessMentoring MomentsFirst Ascent Scholars Program | Undergraduate Advising Resources

As we continue exploring the topic of economic equality and the different factors that influence a fair and equitable economic experience, today we are tackling the topic of student loan debt. Americans owe $1.77 trillion in federal and private student loan debt as of the second quarter of 2023, and questions about whether and how borrowers should be required to repay that debt have become part of an ongoing national conversation.  Here to help us unpack all of this is Adam Looney. Adam is a professor and executive director of the Mariner S. Eccles Institute for Quantitative Analysis of Markets and Organizations here at the Eccles School. He is a nationally recognized expert on student debt, having testified before Congress multiple times on the topic of student debt forgiveness.With host Frances Johnson, Adam shares his thoughts on how we got to this place of burdensome student debt. He'll dive into the quest for equity in higher education accessibility, repayment options, and his thoughts on student loan forgiveness.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University.FM.Episode Quotes:Can we make higher education equitable and efficient?[23:48] The reality is that college is a very good investment for a very large share of Americans. And I think the problem is identifying programs and institutions that are effective at serving disadvantaged, low-income students who historically had not enrolled in very high numbers. If we could have increased enrollment at good-quality programs and provided better guidance to steer students into programs that they can complete and that lead to good-quality jobs, then I don't think we would have a repayment crisis.Why do we have student loan programs?[08:36] We have a student loan program for two reasons. One is to help people pursue. a college degree and graduate programs. And second, to make access to college more equitable in the U.S. and around the world, whether you go to college, whether you complete college, whether you go to graduate school, is closely related to family income, your family background, and whether your parents went to college.The uneven burden of student debt[11:18] On average, college students do well because student loan borrowers, to a large degree, reflect who goes to college; the outcomes of student loan borrowers look a lot like the outcomes of typical college students. And so, it's important to remember that student loan borrowers are more likely to have a job. They earn more, they're more likely to be able to own a house, and they're more likely to become married. So, it's not a universal impediment to being able to launch a career and a life.Why does Adam think that college is a high-quality investment?[10:10] I think college is a very high-quality investment. It is a key way where Americans move up the economic ladder. It's a vehicle of social mobility. It's obvious that there are huge inequities in terms of who gets to go to college, who's able to persist and complete a degree, and who gets to go to graduate school. But it seems like access to financial aid alone is not able to overcome those barriers and, in fact, seems to have made many millions of these often disadvantaged students worse off.Show Links:Adam Looney LinkedInAdam Looney - The David Eccles School of BusinessAdam Looney | Brookings

When it comes to creating more equitable access to economic opportunities, like buying a house or getting a loan to start a small business, financial technology innovations are moving the needle faster than almost anything else. Joining us today to talk about FinTech and the role it plays in economic equality are Ryan Christiansen and Steve Smith. Ryan Christiansen is the Executive Director of the Stena Center for Financial Technology at the University of Utah. In this role, Ryan directs and coordinates the labs, venture fund, incubator, and student programs at the center.Steve Smith is one of the co-founders and creators of the Stena Foundation and currently serves as Chief Engagement Officer, Global Open Banking for MasterCard. He believes that financial inclusion and quality education can be a catalyst for change and can break the chains of generational poverty to lift local economies.  Steve and Ryan join host Frances Johnson to discuss how FinTech innovations can help bridge the gaps in economic inclusion, how Utah plays a role in the greater FinTech landscape, and building out the intention and future of the Stena Center. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The small and medium-sized business success in global financial inclusion[25:24] Steve Smith: The success of the small and medium-sized business is really important in the world economy for driving economic impact and financial inclusion at a higher level. Think about this: if every small and medium-sized business, to the extent they hire employees, were more successful and able to hire just one more employee next year across the world, what level of economic impact would that have?You start thinking in terms of that, and then you start thinking about where the center can play a meaningful role in helping individuals, families, communities, entire nations kind of lift themselves from the foundation up, rather than trying to put band-aids on problem sets that are always repeat problem sets. So, I think that's where the focus is in fintech and financial services and really democratizing financial inclusion in very meaningful ways.The role of intention at Stena Center[15:00] Ryan Christansen: What I think is so important about the Stena Center is intention. So we've had a lot of success, as we've both talked about in the state of Utah around FinTech, and there's some other cities around the world or areas around the country that have had some success. I think what makes it really special here in Utah is truly that intention.Small and medium-sized businesses fuels the world economy[25:24] Steve Smith: What's really important for the Stena Foundation is: What are the fundamental building blocks of economic success and economic mobility—let's call it—that create enduring economic empowerment? For individuals, I think that you always have to wrap in small and medium-sized businesses because they fuel so much of the world's economy. And so, I think the center is great. A great example of bringing academics together with industry together with philanthropy, right? So you've got three verticals that sometimes operate independently and a center that does best in class, bringing them all together.On Utah as an epicenter for Fintech[09:05] Ryan Christansen: It's a really exciting place here in Utah when you look at it from various aspects. And I'll start with maybe the universities in Utah. You've got a lot of highly educated people coming out of the university system that have been starting these businesses, whether they're technology businesses or FinTech businesses, and there's really been a long history of that in the state of Utah...So you've got a lot of kinds of startup mentality with the educational system, doing a lot of innovation as well.Show Links:Steve Smith | LinkedInStena FoundationRyan Christiansen | LinkedInStena Center for Financial Technology

We are exploring economic inclusion this season, and today we are diving into the history of banking and financial structures in the United States and how they have often excluded minority groups. Ashley Bell is the co-founder and general counsel of the National Black Bank Foundation, which provides nonprofit expert legal, regulatory, and operational support to Black-owned banks. And Sui Ling Panoke currently serves as Senior Vice President of Diversity, Equity, and Inclusion for Zions Bank.In this episode, Ashley and Sui Lang sit down with host Frances Johnson and discuss how banks were leveraged against people of color from the very beginning, finding a bank that supports your values, minority depository institutions, and some exciting developments right here in Utah, aimed at addressing and closing the racial wealth gap. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The power of risking in yourself[14:14] Ashley Bell: There's been several studies that show there's been over a trillion-dollar impact that discrimination and lack of access to capital to underserved communities is costing us a trillion dollars annually in our economy in spending. This is spending power that communities would have more of if they had access to the capital. And when you think about it holistically, the more you stymie the economy by telling people they can't have access to capital to take a risk and start their own business, to be able to receive the right capital to own their own home and create assets that way through appreciative home value. Then you take a marginalized community, and you leave them with fewer options, many of which become the burden of the state. Many of that, which becomes welfare programs, become more government assistance, and these people have to be reliant on that to be able to survive. So if you really want to see less reliance on the government having to step in and take care of people that can't make it work, then give them the opportunity to take a risk on themselves.There's no greater act of self-determination than entrepreneurship[15:05] Ashley Bell: If you really want to see less of a reliance on the government having to step in and take care of people that can't make it work, then give them the opportunity to take a risk on themselves. There's no greater act of self-determination than entrepreneurship. And you have so many entrepreneurs in these marginalized communities that just need access to create businesses. And many times, these are small businesses that could easily be sustained in these small economies in their own community, but they don't get the access to do so.On Zion's bank commitment to close the gaps[22:33] Sui Lang Panoke: One of our core values is equality. Equality, opportunity, and access. So, we are very committed to closing gaps. So, it could be the gender pay gap, it could be the racial wealth gap, and it could be the trust gap and opportunity gaps that still exist in our communities as well. So, it's very important to us to invest not just monetarily but through building relationships, right? Mending those trust gaps that still exist in ways in which we can build meaningful relationships, meaningful partnerships, and work towards building the world's most inclusive economy.What is the core of redemption?[18:54] Ashley Bell: Throughout our history, people in marginalized communities have not received any grace or mercy from our financial system. This is what redemption is about. With grace and mercy, there can always be redemption. And we think that we can give that opportunity to people who are looking for it. And we'll start in Salt Lake, but be the center of gravity for an entire nation.The key to institutional sustainability[24:38] Sui Lang Panoke: A critical part of building a long-term sustainable and profitable institution in our industry is staying true to who you are and focusing, honing in on what your values are, who you are as an institution, and what is going to carry you through the next generation.Show Links:National Black Bank FoundationReady LifeRedemption Holding CompanyAshley Bell LinkedInAshley Bell X/Twitter Ashley Bell InstagramZions BankSui Lang Panoke LinkedInSui Lang Panoke Instagram

We are exploring economic inclusion this season, and today we are focusing on the intersections of gender inequality and finances. Here to talk a little bit more about this is Jackie Zahner. Jackie refers to herself as an enthusiastic and dedicated financial feminist. In 1996, she became the youngest woman and first female trader to be made partner of Goldman Sachs. Today, she works to provide women with the tools to grow social capital and achieve financial freedom through her companies ShePlace and SheMoney. She chats with host Frances Johnson in this episode all about the false narratives many women have around money, building community through talking about money, starting active money management earlier in our careers, and what stigmas we might have attached to money that don't belong there.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Time is the biggest variable when it comes to money[26:44] My biggest thing to remember, like a big money tip, is to know that time matters. Time is the biggest variable when it comes to money and having a healthy financial future. So the earlier we educate our kids, the earlier we take responsibility for our money. The compounding effect of that is extraordinary, and one of the things that hurts my heart the most is to be in conversation with people that are my age or older, saying, "Shoot, why didn't someone tell me to talk, think about this, do it, take care of it earlier?" It's like our health—the same thing. Don't wait for a crisis to catalyze your curiosity or necessity.How do women experience inequality financially?[05:16] The wage gap is one of the biggest ways that women experience inequality. Of course, we have the investing gap, which is women, in general, invest later, invest less. So what that means is in the context of the investing experience or those participating in wealth creation through investment, and we can talk about the reasons for that, there's   also a big gap. There's also the wealth gap and, equally, the retirement gap. And you can imagine if you make less because they all build and interconnect with each other. If you make less and invest less, and again, these are huge averages, and talking about sort of these bigger macro things, not how that might manifest at an individual level, but that means, and women live longer, so what that means is you have less money in your later years, which means a different, perhaps, standard of living, on average, and less money to take care of your future self. And there are other gaps, too, as it relates to money, which is, again, one of the reasons I started SheMoney: is confidence gap.Talking about money is not bragging about money[17:27] Talking about money is not bragging about money. Talking about money is not making money; it is something bigger than it is, which is a resource, a medium of exchange, and a store of value…[17:51] And we tell a story about money too, that is especially tied up with status and achievement—that, if you were smart, you'd have a lot of money. If you were this and made good life choices, you'd have a lot of money. And that's just not true. There's a lot of luck involved.On normalizing money talks[18:31] I think we all have these beliefs and behaviors that came from somewhere, and to be able to debunk those myths and normalize talking about money in the context of recognizing its value around our own well-being is, I hope, going to take away from those fears that we all have that we're going to be judged either for not having enough or having too much.Show Links:Brene Brown Money talk (Jacki references posting it in the show) New York Times Article - Women in India (Frances references in show)SheMoney | LinkedInWomen Who SucceedSheMoney Summit Summer 2024Ray ArataGuest Links: Jacki ZehnerJacki Zehner | LinkedInJacki Zehner (@JackiZehner) / XJacquelyn Zehner (@jackizehner) • Instagram photos and videosSheMoneyShePlaceWomen Moving Millions

Welcome to Season Six of the Eccles Business Buzz podcast. We are so glad to have you back as we kick off another series of great conversations with our Eccles Community. This season, we are continuing our discussion of equity, diversity, inclusion, and empathy by focusing on economic inclusion. A key part of building an economically inclusive experience for ourselves and others is understanding what is actually happening in the economy. We all hear economic terms and forecasts in the news, but do we really know what they mean and how they should impact our decisions? Here to help dispel some of the mystery is Yung-Yu Ma.  Yung-Yu is Chief Investment Officer at BMO Wealth Management in the U.S. He joined the organization in 2016, bringing a dynamic combination of academic achievements and industry experience to the Investment Strategy team. Yung-Yu is also an Eccles alum, earning his PhD here in Finance.He kicks off season six with host Frances Johnson by helping us understand the economy. He'll touch on inflation, interest rates, navigating the job market, and how to stay informed while not becoming overwhelmed by it all.  And if you'd like to hear even more from Yung-Yu, join us for our next Eccles Alumni Network Forum on Thursday, February 1st, from noon to 1 p.m. Yung-Yu will be here on campus in conversation with Adam Looney, executive director of the Marriner S. Eccles Institute to discuss the 2024 Market and Economic Outlook and considerations amidst global tensions, political choices, and the year ahead. Register to attend the event in person or via live stream today! Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The value of experience[12:31] One thing that I would always coach students about is, early on in your career, by far, what matters is the experience you get in a particular job. Whether or not you get an extra few thousand dollars or whether your salary is a little bit more or a little bit less is not going to impact your long-term trajectory. But in those early years in your career, having a good mentor, building a good foundation, and learning a lot of skills and knowledge can then benefit you later in your career when you do actually get into the higher-earning years. Having that skill set, that knowledge that you built up early in your career, is going to be tremendously valuable.The importance of investing on yourself[21:25] I think that daily action, or consistent action, in terms of building out one's knowledge and skill set, or reading up on topics that could be beneficial to them, or learning skills—whether it's presentation or communication skills or technical skills, any of the above, depending on what fits with their interests and career trajectory—that is, first and foremost, the investment that people should be thinking about when thinking about investments.What's the advantage of consistent investing?[18:15] I think for most investors, it doesn't pay or it's not favorable to try to make short-term, small changes. What's the Fed doing this month versus what it might do in two months? The big thing is really keeping a consistent investment program and being aware of the times. When there might be bigger events taking place.When is a good time to invest and where is a good place to invest?[21:53] How do I look for investments or things we recommend to clients? It can take a few different flavors, but certainly investing in equity markets overall, and that refers to stocks, whether it's in the U.S. or internationally. One favorable aspect of the structure of investing in stocks is that when you take on risk, the stocks in the marketplace are priced in a way that should benefit you over time for taking on the risk of ownership. Now, that doesn't mean in any given year, stock, or investment, it can't turn out unfavorably. It certainly can. Everybody knows that there's risk involved, but the reason that people still invest in the stock market, in companies, in mutual funds, or whatever vehicles is because, over time, there's a risk premium that plays in your favor. So you should benefit over time by investing in the equity markets, or even the fixed-income markets, and investing in bonds.Show Links:Yung-Yu Ma, Ph.D. - BMO Wealth ManagementYung-Yu Ma LinkedIn

The countdown is on to season six of the Eccles Business Buzz podcast. In this new season, we are focused on economic and financial inclusion and how economic and financial empowerment contribute to opportunity in our personal, professional, and academic lives. I'm your host, Frances Johnson. Join me to get an Economy 101 crash course and learn what all those terms you hear on the news really mean for your economic future and decision-making. We'll hear from one of the nation's foremost experts on student loan debt and from a self-proclaimed financial feminist. We'll learn about how innovations in financial technology are helping to even the economic playing field. And we'll hear from investors in Utah's first minority depository institution about efforts to make the country's banking system more racially diverse. And we'll be highlighting the great work happening right here at the David Eccles School of Business to create a culture of belonging for students on campus and alums out in the world. The first episode of season six drops January 25th, with new episodes coming every Thursday. I know you won't want to miss a single one, so make sure to subscribe wherever you listen to podcasts and invite a friend or fellow alum to listen with you too. We can't wait for you to join us again.

We've been talking this season about the challenges women face in the workplace, especially here in Utah. But today, we are going to pivot to talk about some solutions, and how the Eccles School is working to prepare women – and all students – for a more successful and equitable workplace experience.With us today is Katie Abby, Special Advisor to the President of the University of Utah and Assistant Dean of Business Career Success and Corporate Outreach at the David Eccles School of Business. An experienced staffing executive, Katie graduated from the U in 1984 and, in 1990, co-founded VISTA Staffing Solutions, where she served as COO and then President. She transferred her skills as an entrepreneur to build a professional placement firm at the Eccles School and is now scaling this program to other colleges on the University of Utah campus.In our last episode of season 5, Katie sits down with host Frances Johnson and chats about building confidence, becoming comfortable with the uncomfortable, practicing empathy in the workplace, and what millennials and boomers can learn from each other.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Expanding company perspectives on women's skills11:25: We encourage employers to treat women differently. The key point is, women have different skill sets. They have different things that motivate them. They bring a different set of values to the organization. So if you try to hire a group of women or individuals from underrepresented groups and then treat them as you would the white male population in your organization, you're probably not going to succeed. We encourage employers to do bias training for all of their staff, and in particular, people in management and leadership positions.On teaching the value of speaking up18:03: We want our female students to stop saying, "My work should speak for itself," and teach them how to speak up for themselves, know and appreciate how important they are to any employer, and know and appreciate that they have a unique skill set.The importance of articulating your strengths and value as women in the workplace09:24: It all starts with building that confidence, understanding what it is that you bring to the table, and then learning how to articulate that.Why putting employees first is the key to a successful workplace03:52: We decided to create this incredible environment where our philosophy is that the customer comes second. And by that, we felt it was very important to put our staff and our employees first.Show Links:Katie Abby - Eccles School of Business BioKatie Abby - LinkedInVISTA Staffing Solutions

This season, we are focused on the experience of women in the workplace, and, as we've heard, women are facing a lot of challenges when it comes to professional opportunities, balancing family and work obligations, advancing to executive leadership, and more. But we've also heard some great advice and some solutions for the unique challenges women face in the workplace, and that is what we are going to talk about today. Here with us today is Kate Cañas, a professor in the management department at the David Eccles School of Business. Her teaching currently includes courses on managing diversity and business communication. She is also the author of the book, “Opportunities and Challenges of Workplace Diversity.” Kate and host Frances Johnson sit down to discuss the up-and-coming generation of women in business, opportunities companies have to create inclusive workplaces, the role of empathy in DEI work, and how COVID-19 has changed us as a workforce. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The power of allyship in amplifying diversity[11:35] I am all about voicing yourselves. I try to teach it in my classroom, but I do think it's the responsibility of other women and other people, like men, in the company to be allies so that women don't have to feel like they're alone to advocate for themselves. People are already doing it for them. So an ally is, the definition is a person who supports diversity and wants to learn more, right? So, it's that person who is supportive, that person who participates in DEI initiatives, and who is there for other people. Sometimes, those allies, if they do have more power, they can speak on behalf of those with less power.Empathy is a quality of a great leader[13:54] Empathy is a quality of great leadership. In my mind, if you want to create this ethos of empathy, it has to come from the top, and it's so important. And I talk about leadership so much, and we do case studies and all the CEOs and chief diversity officers, but really, the CEO has to show empathy toward human beings. And there are some characteristics of an inclusive leader, whether they have to have some courage. They have to back up what they're saying with actions, right? So we have some famous CEOs who will march in women's marches or march in a pride parade, right? So it's showing like I'm talking about it, but now I'm going to do it. Also, in terms of leadership, they need to know their leaders, their kind of DEI shadow. That's what they call it—how people view them as leaders in light of DEI. And so there's all this stuff in terms of great, inclusive leadership. And empathy is one of those characteristics.Creating a workplace where everyone belongs[06:04] The whole idea around diversity, equity, and inclusion is that you want to make sure that every single employee in your organization has a sense of belonging so they can bring their whole selves to work…So that happens in a systemic way, but really, it becomes this idea of everyone should be able to bring their whole selves to work, right? And they shouldn't have to hide part of their identity. That's the biggest problem, and usually when they're hiding part of their identity, it is connected to diversity.What Kate hope's to see in her students future in the workplace[21:15] I hope to see some of my students I have right now in leadership positions. I mean, they are so amazing. I hope they never lose their spirit. So, for that to happen, we have to have intentional strategies in the workplace. Following, when I attempted to talk about my integrated model, that has to be working on all levels. Recruiting, retention, you know, metrics, leadership, communication, outreach to the community—so many different levels. So people can walk in; these women can walk into these organizations and feel that I have a sense of belonging. I can be a leader. And I can have a family if I want to, if that's a choice. It doesn't matter. That's just a piece of it, but I can feel empowered. I can see myself as a leader in this organization. These organizations have to be welcoming to women.Show Links:Kathryn Canas | David Eccles School of Business, University of UtahKathryn Canas - Professor - University of Utah | LinkedInOpportunities and Challenges of Workplace Diversity (3rd Edition)Out for Business - Undergraduate

This season, we are exploring the experience of women in the workplace, especially here in Utah. In a recent study published by Wallet Hub, Utah ranked as the worst state for women's equality. The study put Utah last for women in education and health and 49th in both political empowerment and workplace environment for women. The study also found that the income gap between men and women was worse in Utah than in any other state and that Utah is seriously lacking when it comes to women in executive leadership positions. Here to help us make sense of the numbers and to paint a picture of the landscape for professional women in Utah and beyond are Dr. Susan Madsen and Nubia Peña. Dr. Susan Madsen is the founding director of the Utah Women & Leadership Program and the inaugural Karen Haight Huntsman Endowed Professor of Leadership at Utah State University, and Nubia Peña is the Senior Advisor of Equity and Opportunity for the Cox/Henderson Administration and the director for the Utah Division of Multicultural Affairs.Listen to this dynamic conversation as these three women discuss women who live at the intersection of sexism and other marginalized communities, working on making workplace culture a more intentional product, and their shared optimism for the future of working women in Utah.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Turning gaps to opportunities[10:13] Nubia Peña: I created the opportunity framework for our team that follows a three-pronged approach, which is data-informed, opportunity-driven, and people-inspired. By using the data to understand employee climate, culture, and satisfaction, we can then identify the gaps that may cause us to lose great talent to other companies. And those gaps would then be turned into opportunities so that we better serve our employees, which are our most important assets. So, we really want to tell the story of Utah. While we know that there are challenges, we also know that there are some great successes coming out of our industry and corporate leaders. We know that Utah is probably, and most likely, in the next five to ten years, going to be leading for being some of the best and family-friendliest corporations in the nation.The power of collaboration in leadership[15:48] Dr. Susan Madsen: Don't just do a side women's network; connect with your leadership team, align your goals with the goals of the company, be strategic, and help your leaders understand how important this is. And I'll tell you, there's numbers, research, and there's the business case. It's going on and on that when men and women work together in more equal numbers on teams, in leadership roles in the C-suite, on corporate boards, there are so many benefits for the teams, for the individuals, for the communities, but then in society as well. When you learn things at work, you take them to your family, your congregations, and your community.Utah's unique approach to empowering women in the workforce[21:59] Dr. Susan Madsen: Utah is unique, and the leaders of this, as we're calling it in A Bolder Way Forward, are looking even differently than other states. There are so many women who want to work professionally but want to work part-time; that is unique. And so the leaders in that spoke and another one on workforce development are working on helping companies understand that women can work part-time and contribute, and it can benefit everyone involved.Utah way: Having the value of choice for women[18:14] Nubia Peña: Our desire in championing the beauty of all of these pathways that can create thriving for women in the workforce and women to choose to stay at home is the value of choice. And as we partner with our corporate leaders with our legislative sector, when we're thinking about all the people that are needed to create the type of state where there is an abundance of opportunities, there is something that many of us know, which is called the Utah way. And we think differently and out of the box.Show Links:Susan Madsen | Huntsman | USUSusan R. MadsenSusan R. Madsen - Inaugural Karen Haight Huntsman Endowed Professor of Leadership - Utah State University - Jon M. Huntsman School of Business | LinkedInSusan R. Madsen (@SusanRMadsen) / XSusan R. Madsen (@susanrmadsen) • Instagram Utah Women and Leadership Project | USUNubia Peña | Governor Spencer J. CoxNubia Peña - LinkedInA Bolder Way Forward | USU

This season, we are focusing on the experience of women in the workplace – especially here in Utah. And today, we are exploring the experience of women in leadership positions in particular. Why is this so important? According to a recent study published by Wallet Hub, Utah ranks 48th in the nation when it comes to women's representation in executive leadership positions.  Here to talk about her experience as a woman in the C-suite is Amy Frampton. Amy is the Chief Marketing Officer at NoFraud, the leader in eCommerce Fraud Prevention and Revenue Protection. She also served as Head of Marketing at BambooHR and Vice President of Product Marketing at SmartSheet.  Amy is a proud graduate of the U and is passionate about mentoring young women on their own college and career journeys. Amy and host Frances Johnson discuss speaking up to make an impact for yourself and the women who come after you, remembering women are not a homogenous group, pressure testing our thinking, and how a good mentor can change your career journey.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The role of mentors in academic and career success10:35: People that are willing to give you their time are our mentors. Sometimes, it's an explicit corporate program where every executive is supposed to mentor X number of people, and every person that's identified as high potential is supposed to have many mentors, and those can work great because they facilitate introductions. They kind of help all of us understand the importance of mentorship, but a lot of it has just been, for me, really organic for people, men and women, that I've worked with that have been willing to take the time. To say, "Hey, here's something to think about," or why don't you run that by me before you go through it with everybody else?How empathy empowers women to shape inclusive culture19:04: All of us need empathy. And I think as women, we can model that and hopefully help change the culture that allows everyone, no matter the space they come from, to be their whole selves and have an impact on the business. I just think there's a real opportunity for all of us to grow in that way, and that women can leave that in a lot of ways and help change the culture.How do you distinguish a great mentor?11:55: Great mentors give you time and understand the value of bringing new people into conversations and helping them find their place and their voice.On pressure testing your thinking 19:17: The more diversity you can get in a room to test ideas from different perspectives, whether that is finance testing this from their perspective, a person of color testing this from theirs, or a different gender testing this from theirs, whatever it is, the more testing we can do before we go to market. This is so important to the great running of a business, from my perspective, to great marketing and to helping your salespeople know how to go out and talk to folks. All of that is lifted by diversity of questioning and thought.Why are women's unique perspectives important in executive leadership?05:43: Women aren't all the same. Men aren't all the same. Humans aren't all the same. It's always hard when someone says, Well, women bring this, right? Because we all bring different things, but I do think that what we know from brain chemistry is that women do have the ability to look across kind of situation and see all of the dots and connect them in a really unique way, and to have empathy and understanding of where people are coming from, that is often something that women are good at. And then we just bring our own perspectives from where we are, whether we're moms or grandmothers or in marketing.Show Links:Amy Frampton | LinkedInNoFraudTed WilsonChiefWomen Tech CouncilWomen in Business - Campus Connect

As we continue our season focusing on women in the workplace, today we want to examine some of the cultural and policy frameworks at play that put Utah so far down the national rankings when it comes to women's equality and workplace experience. In a recent study published by Wallet Hub, Utah ranked as the worst state for women's equality and was ranked 49th in workplace environment for women. So, what is going on, and how can we all work to make it better? Here to help us understand the landscape for professional women in Utah and beyond are Michelle Smith and Jennifer Robinson. Michelle is the Chief People Officer for The Larry H. Miller Company and interim president for LHM Sports + Entertainment, and Jennifer is the Chief of Staff at the Kem C. Gardner Policy Institute and oversees the institute's communications, human resources, and finances.  Listen as these women join host Frances Johnson to talk about their experiences as women in the Utah workforce, how company cultures can perpetuate these challenges, fostering a sense of belonging in your company's culture and learning to speak up when we need help or flexibility at work.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:On creating workplaces that value diversity, work-life integration, and child care24:22: [Jennifer Robinson]: 23% of our population is a racial and ethnic minority. And that's just projected to continue to increase. We want to continue to create workplaces that create a culture of belonging for the workers. And we absolutely have to do that with the type of migration we're having and those population changes, those demographic changes that we're experiencing.The second thing is I want to keep the cultures growing in our businesses, governments, and nonprofits that value that integration of work and home life. It's very important, and we see how that changed, that pivoted during the pandemic. And that relates to flexibility in the workplace—flexible work hours, flexible work locations, those kinds of things. And then the last thing that's on my mind is really a concern for child care and the availability, affordability, and quality of child care in our communities. And I would love to see our business community lead out on this issue.The importance of creating a culture of belonging15:37: [Michelle Smith] If you're running out to a doctor's appointment with your aging parent, or if you're running out to a middle school volleyball game that starts at 3:15 in the afternoon, which is not convenient in any way, shape, or form but you can't have that again, right? You can't create those memories again. Then people understand that I'm not trying to be lazy or don't care about my job. I'm trying to integrate my life into the priority that I have and the commitment I have to my job to the people that I work with, and to the responsibilities that I have. And so it's so powerful when you can just have conversations, know who people are, and create a culture of belonging.Coping with change: A skill that benefits all areas of life22:58: [Jennifer Robinson] To be able to have the muscle to cope through change could be such a differentiator on how they enjoy work and the things they're able to accomplish. And I would say home or community, family, friends, or their other spaces in their lives. That is a skill set that absolutely translates.Fostering supportive work cultures for all12:38: [Jennifer Robinson] I would encourage any office to try to create a culture that does something at the individual level to help their employees, whether it's dealing with coming back from maternity leave or while their kids are in school, and you're trying to make sure you're doing all those things you want to do, like see your kids performances or get to your daughter's high school soccer game or as we have aging parents, a lot of us are stuck in what we call the "sandwich generation," where we have children at home and parents who are aging that need a lot of help. And those are not unique to women. I think they apply to men as well. And I would just love to see our culture changed to continue to allow more flexibility for working families individuals, whether they have children or not. But it turns out that the ability to be a user of language presupposes that you're also able to reflect on language.Show Links:Michelle Smith - LinkedInMichelle Smith - Larry H. Miller CompanyJennifer Robinson, Ph.D. | Kem C. Gardner Policy InstituteJennifer Robinson - Chief of Staff - The Kem C. Gardner Policy Institute | LinkedIn

This season, we are focusing on the experience of women in the workplace – particularly here in Utah. A recent study published by Wallet Hub ranked Utah last in the nation when it comes to income equality for women, 48th in women's representation in executive leadership positions, and among the lowest when it comes to women's educational attainment. Female entrepreneurs face additional challenges, both in Utah and nationally. For example, nationwide, only 2% of venture capital goes to women-founded firms.Here to talk about the challenges and experiences of female entrepreneurs is Heather Barber. Heather is a highly-rated speaker and facilitator with 18+ years of experience as an entrepreneur, business owner, college professor, coach, and workshop leader. Her specialty is helping leaders amplify their authenticity and become better versions of themselves.Heather and host Frances Johnson discuss dealing with the networking that happens outside of the standard 9-5 office setting, the importance of having mentors that look like you, reverse mentoring, and being able to be your whole self at home as well as in the workplace.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The value of learning to say “NO”15:47: The single most valuable thing you can learn to do is say no. If this is what you want to do, be laser-focused, and you can be nice. You can be kind; you don't have to be a jerk about it. But say no if it doesn't fit within your exact parameter specification. Say no and politely decline, but be firm with your boundaries. And if you look at any business leaders, Warren Buffett, Steve Jobs, and all of these different people, they'll say no to 99% of anything you bring to them. Because they're laser-focused on (what I call) their top five goals. If it doesn't fit within these five things, it doesn't fit in their life.What is the role of empathy in a corporate culture?24:46: That's one of the things that the Eccles School is focusing on is empathy, because you rarely hear that in any business situation at all. Usually, it's very black and white, and empathy is one of those soft skills that can be learned and taught, but it might not be in the workplace that it's learned and taught. It's a skill that needs to be acquired in other places.The power of women's representation in success12:58: Having someone that looks like you, acts like you, comes from the same background that you do, and is in a position where you want to be is invaluable.What is the role of empathy in a corporate culture?24:46: One of the things that the Eccles School is focusing on is empathy, because you rarely hear that in any business situation at all. Usually, it's very black and white, and empathy is one of those soft skills that can be learned and taught, but it might not be in the workplace that it's learned and taught. It's a skill that needs to be acquired in other places.Empowering young women with reverse mentoring18:43: Here's a little piece of advice to you, young, hungry women out there: Let's say you're 21 or 22. What are the things that you know how to do well? Social media, advertising, and marketing I mean, you have got this stuff down. Just put a little bug in your ear. What if you reverse-mentored the CEO of a company?Show Links:Heather Barber - LinkedInAchievement Consultants

This season, we are focusing on the experience of women in the workplace – particularly here in Utah. A recent study published by Wallet Hub ranked Utah last in the nation when it comes to income equality for women, 48th in women's representation in executive leadership positions, and among the lowest when it comes to women's educational attainment. For example, women hold less than a third of tech positions, and of the 50 largest tech companies in the world, only 2 have female CEOs. Here to share her own experiences as a woman in the tech field is Trina Celeste. Trina is founder and CEO of RizeNext, a social good for-profit company focused on rising up the next level of diverse technologists and leaders. Trina also spearheaded the launch of the Tech Moms program and is educating and supporting the transition of women's careers into the technology industry. She joins host Frances Johnson to talk about the unique features of the tech world that make it a great space for women and moms to work, misconceptions about what working in tech is like, and working to become an empathetic leader.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:We need to have a stronger voice, not a thicker skin11:33: We need to have a stronger voice, not a thicker skin. We need to start speaking up and saying this isn't okay, and I think we're getting to a climate. You had the Me Too movement, but it didn't create awareness. It's real, but what do we do about it? Get educated on the various forms of sexism, what they are, be able to identify them, and have some ready statements of ... The easiest one is to say, "Can you explain that to me?" If you're feeling it and having an emotional reaction, most likely it was a biased statement. So, how do I respond to that? How do I take it and go? "I'm not trying to be difficult, but that's not okay."On overcoming self-limitations to forge a better world07:42: What's missing in the world is that we're holding ourselves back from creating the greatest changes that could come and solve some of the world's biggest problems.On women's growing role in the skilled workforce23:02: One of the things that's been coming up is that the enrollment of women in universities is higher than men. On average, nationally, only a few colleges don't have more female graduates than male. And the skilled workforce is shifting: women are entering into tech, and some of the work there isn't just tech moms. There's a lot of organizations helping create awareness here and shifting the narrative. Show Links:Trina Celeste - LinkedInTrina Celeste - InstagramTrina CelesteTech MomsRizeNext YouTubeTrina Celeste - TikTokRizeNextHow Women Rise: Break the 12 Habits Holding You Back from Your Next Raise, Promotion by Sally Helgesen and Marshall Goldsmith

This season, we are exploring the experience of women in the workplace. We are going to hear from a lot of powerhouse women in a lot of different industries, sharing their own challenges and their tips and advice for overcoming the roadblocks women often face in the workplace. But today, we are going to zoom out a bit and talk about the workplace more generally. Joining Host Frances Johnson today is Amelia Stillwell, assistant professor of management at the David Eccles School of Business. Her research focuses on the norms and stereotypes that maintain group distinctions inequality. Listen as they chat about her research related to voice in the workplace and how it influences inclusivity and psychological safety for marginalized groups. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Amplifying diversity20:43: You can get more creativity and innovation if you have a culture that facilitates that open sharing where people feel like they'll be supported, even if they take a bit of a risk in making a new suggestion. But on the other hand, if it's not a culture that's conducive to that open sharing, those different points of view can create negative conflict, personal conflict between people that's more harmful than helpful.The importance of psychological safety in the workplace05:41: People have to feel that it's safe to take risks in their organization to put themselves out there. Otherwise, they're going to be less inclined to speak up because they're going to feel like that'll come back on me.Why you should call people in instead of calling them out05:41: What you often get when you publicly shame people is defensiveness. They don't even think twice. They're not thinking critically about the points you're making. It's kind of an emotional reaction to a perceived threat. Because no one wants to feel like a bad person, focusing on growth, being a good-ish person, the best you can each day, and improving each day is more effective as a call-in strategy for getting people to change their behavior going forward.Show Links:Amelia StillwellAmelia Stillwell - LinkedIn Elizabeth Tenney - The David Eccles School of Business

Season 5 of the Eccles Business Buzz podcast is just around the corner. This season, we are exploring the experiences of women in the workplace and how empathy is a key ingredient for creating companies and communities that are welcoming and inclusive to everyone. I'm your host, Frances Johnson. Join me to hear from women in the Eccles community about the challenges they have faced in their careers and what advice they have for women who are going through the same thing. We'll learn about how government and higher ed are teaming up to address Utah's last-place ranking for women's equality and hear why tech jobs are the perfect fit for moms in the workforce. We'll talk about voice in the workplace and why speaking out about discrimination against anyone helps everyone, and we'll hear what role the David Eccles School of Business is playing in preparing the next generation of female business leaders to succeed.The first episode of Season 5 drops on September 28th, with new episodes coming every Thursday. I know you won't want to miss a single one, so make sure to subscribe wherever you listen to podcasts and invite a friend or fellow alum to listen with you, too. We can't wait for you to join us again. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.

Welcome back to our final episode of Season Four!  Today we are wrapping up our discussion of impact, and looking ahead to the relationship between our confidence to make a positive impact and our ability to create safe, inclusive spaces and experiences for the people around us.  Here to talk about impact and inclusion is Simone Lawrence, manager of the IMPACT program at the David Eccles School of Business. IMPACT is a partnership between the Eccles School and Historically Black Colleges and Universities to bring these students to the U for the summer. The goal of the program is to expose participants to new experiences and show them the difference they can make in places they didn't expect.  Simone joins host Frances Johnson to talk about having a real opportunity yo make a difference during her internship with PluralSight, her hopes for the IMPACT program as Manager, navigating Utah as a person of color, and working with companies to implement meaningful DEI initiatives.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Failure makes us see what we can do better[21:50] I know everyone's afraid to fail, but that's part of life. If you don't fail and see the areas that you messed up in, how do you know how you can do better?The impact of community building[28:32] I think building that community, learning what you like and don't like, having the opportunity to experience new things and expand from someone who cares about you and just being that person that I can impact other people has made an impact on my life. When it comes to diversity, it's not the lack of information; it's the lack of access.[27:07] A lot of times, people want diversity just because, right now, that's the cool thing to do. So, you don't really know too much about it. You just know, everyone has a DEI, EDI, or whichever variation of equity, diversity, and inclusion that you have. And one thing is there's not a lack of information out there. It's just a lack of people having access to it. I always consider myself a liaison between people and information.Show Links:IMPACT ProgramPluralSightSummer Bridge Program at the U Lantern House

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. Our guest today is Eccles alum Brian Pham, who is here to talk about his experience at the Goff Strategic Leadership Center and how his time as a Goff Scholar prepared him to be an impactful leader after graduation.Brian graduated from the Eccles School in 2022 with a degree in marketing and became a minor celebrity as the student speaker at his commencement ceremony. During his time at the Eccles School, Brian served as the Executive Director of Out For Business, an LGBTQ+ student organization that aims to increase inclusivity and representation within the broader business community. He also served as SEO lead at Sorenson Impact Center, where he led a website design project for the Bill and Melinda Gates Foundation and was part of the Goff Scholars program. Brian and host Frances Johnson cover a lot in this episode, starting with why it seems like Brian's generation is really interested in impact-oriented work and making a difference. They also discuss getting encouragement from Eccles professors to think outside the box, advocating for better LGBTQ+ workplace rights & protections, and struggling to overcome imposter syndrome and a lack of confidence.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:The impact of micro-relationships[01:32] When I think of impact, I think of it mostly in the context of impact in relation to others rather than impact on the world. Personally, I prioritize impact on other people and/or recognizing how they impact me as well. It's those little micro-relationships that, I think, really make up your entire life. The goal of Out for Business[24:56] Our goal isn't to be able to change everything. We recognize that, but it's that small impact we have. If we can change the opinion of three people who are classmates, I consider that success.On learning to ask the right ask questions[18:44] If you don't ask the right question, then you'll be solving completely different problems. the wrong problems, right? I've carried that principle everywhere, not just in my work but also in my life. Making sure that you're asking the right questions every step of the way changes how you view the world, work, problem-solving, and the broader scheme.Show Links:Goff Strategic Leadership CenterOut for Business at EcclesSorenson Impact CenterBill and Melinda Gates FoundationMicrosoftMirador Basin ProjectBonita AustinMegan Kawaguchi

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. In this episode, we are joined by Yasmin Khan, a graduate of the Master of Business Creation program at the David Eccles School of Business, and founder and CEO of Khalm Skincare. Yasmin also provides mentorship and scholarship funding to young women pursuing their college degrees through the Women Who Succeed program.Yasmin and host Frances Johnson talk about finding the confidence to dive in fully to your goals and ideas, the value and impact of being a part of the MBC program at Eccles Business School, and getting cozy with failure.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes: On the impact of inclusion[06:47] I think that impact of inclusion in the beauty space is super important right now. And, so when a young girl sees something, sees someone that looks like her creating something that she can use, that harks back to her history, her traditions, and her heritage, it's impactful on that woman because that woman will then go on to university, will go on to being an entrepreneur, or will go on to being a successful member of the community.Why failing is magical[16:22] We all fail, and we learn from those. In fact, failing is magical, and I tell them that all the time because you're going to learn how to ski, you're going to fall, but then you're going to get back up again, and that's what's most impactful for you as young women, that you tried something and you got to a certain point, and it grew you.Khalm is more than just a skincare brand[07:55] Khalm is connecting you back to those old traditions that really are more impactful today than ever before.Confidence in the face of failure[10:39] You may fail or you may succeed, but it leverages another opportunity and increases your confidence along the way. Just grab the opportunities and go for it.Show Links:MBC Program at Eccles Khalm SkincareWomen Who Succeed

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. Today we are exploring some new and exciting opportunities student athletes, in particular, have to make a positive impact for themselves and for others in their communities. Here with us is Gavin Van Wagoner, Assistant Athletics Director for Name, Image, and Likeness – also known as NIL – and major gifts for Utah Athletics. His responsibilities include helping equip student athletes with a comprehensive toolbox to make the most of their name, image, and likeness ideas.Gavin and host Frances Johnson dive into all the new NIL regulations, what that means for our student athletes, and how this extra income and business opportunity can make an impact on the communities supporting our students as well. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Student-athletes look for schools that meet their needs10:34: One of the things that is important to remember is a student-athlete picks a school because of multiple factors, whether that's the program's wins, they love the coaches, and obviously, we have great coaches. The facilities are really great, and we love this. And then the education, which is, you're a student athlete, you're here to get an education, and Utah provides a great education. So those four factors, probably prior to NIL being a thing, were weighed.The ripple effect of impact[30:37] I think these student-athletes look up to their peers, NIL and business, in general. There's probably some copycat strategies, like Oh, she did this, and I want to use my brand to go create this, as inspiration in a good way. They're probably going to do great things no matter what, in my opinion. But this gives them that early advantage.How the NIL is changing the game for student-athletes[25:09]: Some might say, "Well, the money that would've gone to the department is now going to student-athletes." We love it. They're creating their own opportunities to make that money. So a deal happens, and that money is going directly to the student-athlete. And we've found that to just be additive in the process because it changes the dynamics all of a sudden.Show Links:Gavin Van Wagoner - Assistant Athletics Director for NIL and Major GiftsElevate U 

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. We are so grateful to be joined by mother/daughter duo Brenda and Morgan Williams. Brenda and Morgan established the Cameron Russell Williams Legacy Scholarship at the Eccles School, in honor of their son and twin brother, who passed away from a brain tumor in June 2021 at the age of 33. Cameron made a massive impact in his short lifetime, emerging as a star and innovator at Goldman Sachs and Utah tech firm Domo and starting his own transportation logistics company, EverWoke. A civic leader and advocate for underrepresented communities, Cameron also served as Chair of the Utah Black Chamber of Commerce and as an advisory board member of the Young Professionals of Salt Lake City and Utah Chapters of the National Association of Black Accountants and National Society of Black Engineers.In this episode, both Brenda and Morgan join host Frances Johnson to share their favorite memories of Cameron, how they continue to honor his personal and professional legacy, and what it means to carry on his memory throughout Utah. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:The courage to move forward despite the fears[19:53] Morgan Williams: Entrepreneurship, just as a role, is scary. I made a decision on my own that I was going to figure this out. That's scary. Everyone said, "Morgan, you don't have to do this." "Morgan, do you even know how to do this?" Regardless of all the fears, I decided to move forward anyway. And to me, that's a part of the confidence needed as an entrepreneur and a sister carrying on a brother's legacy.The impact you made is measured by the lives you've touched[26:52] Brenda Williams: At the end of the day, when you are no longer here on this planet, the impact you make is measured by the people that you have touched and the things that they continue to do. And that is how we, as a family, look at Cameron's very short life.On writing your own story[24:49] Morgan Williams: It is not always about creating the next new big thing, but it is about deciding what story you want, writing that story. And if you need a little plot twist here and there, go ahead and do it. And then make sure you share it so others can be inspired by it as well and change possibly their story as well.On Cameron's desire for impact[06:16] Brenda Williams: Cameron's desire for impact is something that is part of the value system of this family. We have a saying in our family: Never stop thinking. Always look for new ways to do things. No is just a statement. It's not necessarily the answer. And so there may be another way to look at and do things. And from the time they were little children, that is what they were taught.Show Links:Cameron Russell Williams Legacy Scholarship - David Eccles School of BusinessCameron Russell Williams Diversity Impact ScholarshipDomoMorgan Williams LinkedInEverwokeBlendyd StudiosUtah Chapter - National Association of Black Accountants Utah Chapter - National Society of Black EngineersUtah Black ChamberNBA FoundationNBA All Star WeekendNBA All Star Pitch CompetitionMaster of Business Creation - David Eccles School of BusinessKenneth Boggs Suits

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. Our guest today is Abukar Hassan. Abukar is a junior at the David Eccles School of Business, studying finance and entrepreneurship. He is a business scholars intern, a presidential intern, and a resident at Lassan Studios. Abukar is also one of only 100 students nationwide to be awarded the inaugural Obama Chesky Scholarship for Public Service, also known as the Voyager Scholarship, and he is the only recipient of that scholarship from the State of Utah.As a first-generation college student, Abukar shares with host Frances Johnson how the impact of his mother influences his mission of service, the long list of organizations he is involved with on campus, how a number of University of Utah & Eccles scholarships got him to where he is today, and how to find your place and voice on campus. Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University FM.Episode Quotes:Impact is a reciprocal experience [16:55] You don't have to go into the community and try to change it, right? You will never experience somebody's perspective or experiences, but if you allow them to tell their story, you'll slowly understand what they love about this university and what they love about their community, but also understand the improvements and what they want to see change. And that's the biggest impact a person really can make: just listening, then letting them and helping them by being behind them and supporting them make those changes.On finding a community of belonging in the campus[30:16] If we have more people who have that mindset saying, "I want to amplify those voices of my community. I want to make those changes for my community," We will slowly turn into a community where we love and find belonging for every student here on campus.On being the only Voyager scholar in Utah[20:02] To represent our state in a positive way and hopefully bring in that impact that the state constantly needs to see, and have that leadership mentality of saying, "How can I help lead this initiative?" It's a blessing, and I'm excited to work with young millennials and people in general who are trying to do the same thing as our state does a great job at it already, but there are definitely parts where we can improve on.Show Links:Lassonde StudiosObama Chesky Scholarship for Public ServiceFirst Ascent Scholars President Taylor Randall

This season we are talking all about impact – the people and experiences that have impacted us, the ways we are impacting others, and what we can all do to build confidence in our ability to make a difference. Programs at the David Eccles School of Business are preparing students, alums, and others in the community with the skills and confidence they need to make a difference. And joining us to talk about one of those programs is Dana Taylor, project director for Project DEEP. Project DEEP is an initiative of the Sorenson Impact Center at the Eccles School that aims to disrupt the entrepreneurial status quo by empowering women and people of color entrepreneurs through on-demand training and support from industry experts. As a woman of color entrepreneur herself, the mission of Project DEEP is especially important to Dana. She sits down with host Frances Johnson to share an overview of Project DEEP, talk about her personal experiences as a black woman entrepreneur, and how we can all work to create systems to overcome the barriers they face.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University fm.Episode Quotes:What Project DEEP can do to help you scale up as an entrepreneur[12:35] With Project DEEP, everyone has direct access to these instructors, and there is so much value in having access to people with this level of expertise provided in a program like DEEP. So having access, gaining that knowledge, having that opportunity to connect with them outside of the project, it's huge. And when you're serious about your business, other entrepreneurs take you seriously. Investors take you more seriously.The importance of your network[26:18] When you come across people who see you and what you bring to the table and want to see your success, you hold on to them forever and ever.A place where people understand your value contributes to your confidence[27:15] Women and people of color are often undervalued in mainstream business. And we know when we're being undervalued. And so to be in a place where people understand your value, don't question it, and make sure that you get compensation or funding or whatever you need at your value level is huge. So, that's also a huge part of what would be in a successful ecosystem.The goal for Project DEEP[24:49] I do hope that we can build new ecosystems that enable people who didn't have ecosystems for themselves before to become a part of and grow in their entrepreneurship and their investing. Show Links:Project DEEPSorenson Impact Center Women's Business Center of UtahNew Pattern