With a population of one billion and growing, China offers a tempting market for businesses looking to expand their reach. However, if multinationals view the country as one that continues to have traditional cultural values, they may not succeed in their marketing efforts.

   

Tiger Li

So say the authors of "Marketing to China's Youth: A Cultural Transformation Perspective," published in the November-December 2004 issue of Business Horizons. Dr. Tiger Li, associate professor of marketing in the College of Business Administration at Florida International University, and two of his colleagues point out that China's policy of one child per family has led to a marketplace dominated and directed by young people.

   The effects have been profound. These young people—often called "onlys" by China watchers—are the first generation exposed to Western-style capitalism. Influenced by the Internet, television, and other advertising messages, they seek out Western brands such as Nike, Starbucks, and Levis.

   This represents a massive cultural shift.

   "We describe how traditional Chinese values of balance, moderation, and harmony—the culture of restraint—have given over to a greater emphasis on individual desires and needs," Li said.

   The article also notes that young Chinese are shunning values such as saving and an aversion to borrowing in favor of using credit cards and getting bank loans. Since only five percent of urban residents there currently use credit cards, that opportunity is clearly enormous.

   The authors suggest that businesses should be aware of all these changes in values and adjust their marketing messages accordingly. They also urge western marketers to include Chinese young people in their plans.

   "This group dwarfs the same category in the United States and Europe and is likely to grow exponentially in the near future," Li said.

   Specifically, Li and his colleagues recommend that companies build their brand image carefully with an eye to Chinese needs and requirements, that they rethink their advertising strategies, and, ultimately, that they keep in mind the influence of parents.

   Harvard Business Publishing placed the article on Harvard Business Online, alongside Harvard Business Review articles and Harvard Business School cases for classroom adoption.

   "As far as I know, only a small number of articles from other journals have ever been collected by Harvard Business Online," Li said.

FOCUS ON

.: College participates in Carnaval Miami.

   This year, the College participated in the celebrated Carnaval Miami, organized yearly by The Kiwanis Club of Little Havana. Through its sponsorship of several events, including an 8K Run, Walk and Kiddie Dash, an Evening of Indulgence at the Biltmore Hotel, and Sunday on the Mile, the College contributed to the Kiwanis Club of Little Havana's mission to develop projects benefiting the growing Hispanic population in Miami. Additionally, the College reached out to alumni and potential students and established a presence among the estimated 45 thousand people who attended the festivities.

.: College welcomes its newest Alumni Circle members.

   Panther Pride from the Start! Mia, daughter of Alumni Circle member Rick Escudero (MA '93, BA '92) and Alejandra Giacomino-Escudero (BA '99).

   The Alumni Circle is a group of senior-level alumni who work closely with the College's administrators and deans to develop programs and initiatives to achieve the College's goals. Joining the Circle recently are Rick Escudero (MA '93, BA '92), executive vice president and CFO of Kramer Laboratories, Inc.; Miguel A. Horvath, Jr. (BBA '02), financial advisor for American Express Financial Advisors; Lance Benson (MBA '03), office broker for Cushman & Wakefield, and Howard Mark Shore (BA '91), partner of Elite Advisory Group, Inc. Returning members to whom we owe special thanks are Michael Gibaldi (BBA '84), Daniel Linares (BA '93, MBA '98), Miguel Rabay (BA '81), Josie Carreño (MBA '99), Gus Vidaurreta (BS '80), Alfredo Cepero (BACC '88, MAcCC '90), and Rich Danze (MBA '03).

.: Second in CEO Speaker Series was held March 3rd.

   Business Alumni Chapter members and guests convened on March 3rd at the Miami Airport Hilton for the second in the CEO Speaker Series, co-presented by the Business Alumni Chapter and SouthFlorida CEO magazine. Members and guests attentively listened as the charismatic Steven Hayworth, founder, president and CEO of Gibraltar Bank, discussed how he developed a strong group of expert shareholders, board members, and executives to propel Gibraltar Bank into one of the region's most thriving and profitable institutions. Hayworth also offered insight into the building process and the changes he and the bank experienced during its successful transformation.

   Hayworth founded Gibraltar Bank in 1994. Today, it has grown to nearly $1 billion in assets with five offices located in Coral Gables, South Miami, Downtown Miami, Downtown Fort Lauderdale, and Ocean Reef. To get a glimpse inside Gibraltar Bank's incredible success story, visit the Business Alumni Chapter's web site and download Steven Hayworth's presentation, "The Evolution of a Dream: From Start-up to Maturity."

.: Business Partners Lunch was held February 24.

Attending the luncheon on Thursday, February 24th at Ragazzo's Restaurant in Coral Gables were: Top-Jose Aldrich KPMG; Executive Dean Joyce Elam; Bottom- Dennis Custage Custage International, and Rafael Garcia (BBA '94), PricewaterhouseCoopers.

.: 2005 Entrepreneurship Hall of Fame Luncheon is May 12th.

   Don't miss the event of the year! Join the College of Business Administration as we celebrate our ongoing commitment to entrepreneurship and honor our best. The Entrepreneurship Hall of Fame will be held on Thursday, May 12th at The Parrot Jungle, 1111 Parrot Jungle Trail (Watson Trail), Miami. 2005 Entrepreneurship Hall of Fame Inductees include: Agustin "Tino" Herran (BBA '91), president, General Real Estate Corporation; president, Sedano's Supermarkets; and president, Tire Group International; Larry Harris, (BS '81) proprietor, Mosaico and Salero Restaurants and co-founder Pollo Tropical. Our South Florida Entrepreneur(s) of the year are Jorge de Cespedes and Carlos de Cespedes, founders of the Pharmed Group. A Lifetime Achievement Award will be presented to Dr. Sandford Ziff, founder of Sunglass Hut/CEO Ziff Plaza Associates. Winners of the Howard J. Leonhardt New Venture Challenge will be recognized at the event as well.

   The Entrepreneurship Hall of Fame is the College's largest event each year, with more than 500 attendees. It's an ideal opportunity to reconnect with other business alumni and to network with business professionals.

   Register to attend today! Visit our web site.

.: Spring breakers headed further east for working vacation.

College and "Chula" students with Kloy Toey's students at show for parents.

   Twenty-two students from the College of Business Administration spent an Alternate Spring Break (ASB) in Thailand working on service projects in conjunction with a new partner: the International BBA Program (and its ToCUsmile Service Club) at Bangkok's Chulalongkorn University (Chula), the country's premier university. Natalia Sturla, a member of the College's International Business Honor Society served as ASB project leader for the trip.

   Most members of the contingent spent their time helping run Unity Camp, a day camp for a group of elementary school children in the Kloy Toey slum district of Bangkok. Three others worked at an organization that protects women-for example, those who have AIDS or who have become prostitutes.

   The ToCUsmile Service Club is new at Chula, founded in October 2004.

   "I had wanted to join a community service club but there was none, so I decided to form one," said Ketsiree Danpaiboon, a Chula senior who was Sturla's counterpart in Thailand. "I consulted with the dean of the BBA Program, who was very supportive, and I saw some interest in my friends. That is how ToCUsmile came alive."

   Because Chula's spring break did not overlap with that at Florida International University, students from the club were not able to be on site all day, every day at the camp. However, six to eight did attend daily, serving as translators and providing logistical support.

   "We envisioned the project as a community service vehicle for developing the values associated with global citizenship and global social justice," said Robert Hogner ("Dr. Bob"), associate professor of management and international business and coordinator of the College's Civic Engagement Initiative, who accompanied the College's students. "We never could have anticipated the degree to which the experience could have met these goals. It was a life-changing experience for everyone."

.: U.S. News & World Report's "America's Best Graduate Schools" 2006 again lists College in top 25 in U.S. for international business.

  For the second year in a row, U.S. News & World Report's "America's Best Graduate Schools," which hits newsstands April 4, 2005, lists Florida International University (Chapman School) among the top 25 business schools in the U.S. for international business education. In the 2006 ranking, in which the College moved up from #23 in the 2005 list to #22 (and ahead of UNC-Chapel Hill and George Washington University), we remained the only business school in Florida ranked in this business specialty area.

  Last fall, U.S. News & World Report ranked our undergraduate international business programs in the top 10 in the U.S.

.: Evening of Stars launches Building for Business Campaign.

   While the set-up Wednesday for the College's "Evening of Stars" on Thursday, March 10, was a bit soggy, the day of the event itself was picture perfect, and the production crew and a host of College staff worked all day to prepare the venue for one of the most significant milestones in the College's history.

   More than 400 people—faculty, staff, students, alumni, key donors, members of the media, and friends of the College—came to celebrate the launch of the "public" phase of the Building for Business Building Complex Campaign. Attendees were given blinking stars and a Campaign brochure at registration, which fronted the "Walk of Stars" denoting significant contributors during the "silent" phase of the Campaign.

   Alumnus Ivan Taylor, anchor for Telemundo 51, served as Master of Ceremonies. President Modesto Maidique spoke about the growth of the University and the role the College has played in propelling its success. Executive Dean Joyce Elam addressed the College's need for a "home" and described how the building complex will realize a dream conceived by a team of faculty, staff, students, alumni, and architects from Kohn Pederson Fox, New York, and BEA International, Miami. She also thanked the key donors who had contributed to the Campaign to date:

• R. Kirk Landon, in recognition of whose gift we named the Landon Undergraduate School of Business
• Alvah H. Chapman, Jr., whose gift led to the naming of the Chapman Graduate School of Business
• Ocean Bank, whose gift will be honored with the naming of the Ocean Bank Auditorium in Academic Hall.
• Bank of America, whose gift will be honored on the new Bank of America Career Services Center, to be housed in Student Hall.
• Morrison, Brown, Argiz & Farra, LLP, whose gift will be recognized in Academic Hall by naming a 40-seat Collaboration Classroom the Morrison, Brown, Argiz and Farra, LLP Classroom.
• Wachovia Foundation
• Armando Codina
• Guarded Networks, Inc.
• Regions Bank
• Graham Family
• Augusto ("Gus") Vidaurreta and his wife, Jeanie

   Following Elam's remarks, the audience was treated to a virtual tour of the new building complex, which is available for all to view online.

   Culminating the festivities was a dinner provided by Outback Steakhouse and a concert featuring the FIU Jazz Big Band with FIU star Nestor Torres. Guests were provided with a Tortuga Rum Cake, courtesy of alumnae Monique Hamaty-Simmonds, as they left the event.

   "The evening was a tremendous success," Elam said.

   To learn more about the Campaign and to make a pledge, visit our web site or contact Annabelle Rojas, (305) 348-3339, rojasa@fiu.edu.

.: Professor Von Glinow receives high honor from the Academy of Management.

   

Mary Ann Von Glinow

Mary Ann Von Glinow, professor, Management and International Business, and director, Center for International Business Education and Research, recently received word that she has been selected as the 2005 recipient of the Academy of Management's "Distinguished Service Award." This is one of the highest honors the Academy bestows on its members, as it is given for "excellence in developing and/or enhancing a field of study; founding or creatively editing a journal; and/or building institutions, for example, through creative or unusually effective service to a major professional organization." Von Glinow will receive her award at the "Presidential Luncheon" on Tuesday, August 9, 2005, during the Academy's annual meeting in Hawaii.

.: Executive MBA class explores China.

   "It's one thing to hear about Westerners doing business in Asia during a class and another thing to hear from the people themselves," said James Picou, an Executive MBA student who participated in this year's international trip, now a required part of the program's curriculum.

   Picou was one of twenty students and two program alumni who traveled to Beijing, Shanghai, and Hong Kong in January. The trip followed the fourth "international quarter" during which the class studies international business and global finance.

   The group visited Chinese corporations, foreign companies doing business there, and Chinese government organizations. Sumit Kundu, professor of international business, and Sarah Perez, director of the program, accompanied them.

   "It was a wonderful learning experience for everyone," Perez said. "The students were exposed to a number of different industries and types of companies, which gave them a good understanding of business in the region."

   Among their stops: HLT Special Converters Co. Ltd., Legend Computers, Beijing CLTC, and Zhen Property Management in Beijing; Shanghai Qin Xu Plastics, Unilever Shanghai, and Heraeus Kulzer Dental Ltd. in Shanghai; and HKNET and HK Institute of Certified Public Accountants in Hong Kong.

   In addition, networking took place across the cultures. For example, Picou, a project manager at Ryder Systems, Inc., identified several potential business opportunities in logistics and EDI.

   Participants also took in cultural and historic sites that included the Great Wall of China, the Summer Palace, Tiananmen Square, and the Forbidden City. And there was another valuable result.

   "Traveling is a bonding experience," Picou said. "For starters, when you're on a plane for sixteen hours, you do get closer as a group."

.: Recent MSF graduate gets shot at the big time in the Big Apple.

   Come May 23, 2005, Juan Rodriguez, armed with his undergraduate degree in mechanical engineering from California Institute of Technology and his Master of Science in Finance from the Chapman School, will be interning at Bank of America in New York City.

   

Juan Rodriguez

"This is my chance to see if I can play in the big leagues," said Rodriguez, who found out about the opportunity through an e-mail from Florida International University's Career Management Services office and decided to submit his resume. "I'm very excited to have been interviewed—and selected—by one of the major players in the financial industry."

   Though he does not yet know the industry group—such as healthcare or media—to which he'll be assigned, he does know that he will be in the Corporate and Investment Banking division.

   "I want to go in the direction of corporate and investment banking for my career," he said. "This experience will be an important stepping stone for me."

   Rodriguez doubts that he'll have much time to enjoy the many attractions of New York during his ten-week stay, but he doesn't mind.

   "I wasn't drawn to the internship because of the city," he said. "I was drawn to the industry and the firm. I know that New York is exciting, but I don't plan to see much of it. I plan to focus strictly on the position. If I work sixty hours a week or more, that's fine with me."

.: Chapman Executive Committee will play vital role in School's future.

   A newly-formed group—the Chapman Executive Committee—is bringing together prominent business executives from the area, chairs of the graduate programs' advisory boards, and members of the executive staff of the Chapman Graduate School of Business.

   "The purpose of the committee is to provide guidance and support on a number of matters of strategic importance to the School and to Florida International University," said Natalia Echeverría, corporate relations manager at the School. "The group also provides oversight to the existing program-focused advisory boards for our masters' and MBA programs."

   The committee—which currently consists of sixteen participants from the upper echelons of a wide array of industries that includes healthcare, manufacturing, and financial services—meets every other month for breakfast.

   "Not only will the committee's input help shape the direction of the Chapman School, but also its members will get first-hand knowledge of the rationale for the School," Echeverría said. "For example, Dean José R. de la Torre is very open to direction, works closely with key corporations of international scope, and is in step with the business community as the School address major initiatives, such as writing our ten-year plan."

.: Seminar planned for high-end real estate and development investors.

   "Investing in Real Estate," an intensive five-day seminar, will provide an opportunity for people seriously interested in investing in high-end real estate or development to network, visit development sites, and tackle a case study, among other activities.

   The seminar, planned for the summer of 2005 and sponsored by Steel Hector & Davis, PricewaterhouseCoopers, and Ocean Bank, is being organized through a partnership among the College's Office of Executive Education, Chapman Graduate School, and Jerome Bain Real Estate Institute.

   "Class discussions and other activities will take place during the day, and there will be three evenings of networking—each hosted by one of our sponsors—to give participants a chance to interact with them. Other prominent members of the real estate community also will attend the evening gatherings," said Erica Gjorven, executive education manager in the Chapman Graduate School. "At the end of the week, everyone will have extensive background in investing in real estate or development and an excellent portfolio of contacts."

   The session will focus on South Florida, but the principles that will be taught will apply everywhere, she said.

   For more information, contact Gjorven at 305.348.1144 or gjorvene@fiu.edu.