For all their attractiveness as a way to combine contributions from a variety of sources, joint ventures are not without risk. But these risks can be mitigated.

   Using a failed international joint venture between Coca-Cola and Nestlé's to distribute a canned coffee in vending machines, José de la Torre, dean of the Chapman Graduate School of Business at Florida International University, and a colleague traced the way the relationship unraveled and offered recommendations to help other companies avoid the pitfalls of such collaboration.

   Titled "Learning from Failure: Towards an Evolutionary Model of Collaborative Ventures," the article was published in Organization Science in a special 1998 issue on "Managing Partnerships and Strategic Alliances." The editors recently notified de la Torre that the paper has been the most frequently cited refereed article from the issue ever since. According to them, at last count by the Social Science Citation Index Data Base, his article had been cited 58 times.

   "When we published the article, we could not use the company names and had to mask all the details, but we were able to interview the proper principals, and we had access to key documents, such as board minutes," de la Torre said. "We tracked the downward spiral of the enterprise from the 1991 founding of the fifty/fifty venture to its closing a few years later, when what had been a bright idea now seemed like an albatross."

   According to the article, there are three critical matters that can foster success: positive feedback loops, relationship quality (in part, the degree of trust between the partners), and the existence of procedures to handle issues as they surface.

   "The article was rather theoretical," said de la Torre. "In 2001, along with two co-authors, I published a paper titled "Relational Quality: Managing Trust in Corporate Alliances," on the same subject in California Management Review, a premier practitioner-oriented journal. In it, we further explored the concept of relationship quality—how it works, and how it affects two partners working together."

   The article sets out a dozen specific suggestions that enable what de la Torre referred to as "a reservoir of good will" to remain filled as partners tap into it at various times. Among the suggestions: remember that nothing is set in stone, make first impressions matter, and monitor your own behavior and not just your partner's.

   If past experience can help head off future problems, Coca-Cola and Nestlé's are in a strong position.

   "About two years ago, the companies re-established a joint venture," de la Torre said. "It will be interesting to see what they learned from the last one."

FOCUS ON

.: Real Estate Alumni Affinity Council creates formal steering committee.

   Florida International University's College alumni interested in professional development in the field of real estate and current real estate students have already found the Real Estate Alumni Affinity Council a great source of support. Members of the group have now created a formal steering committee to design, manage, and implement the goals and activities of this exciting group.

   "Initially, the Affinity Council, which now includes more than eighty members, existed outside the University alumni structure," said John Zdanowicz, director of the Jerome Bain Real Estate Institute and professor of finance. "Thanks to its success, it has recently been brought under the umbrella of the College's Business Alumni Chapter as the Affinity Council."

   At the meeting to establish the steering committee, Paul Jones (BBA '78), president of Pyramid Realty Group, Inc. and a founder of the FIU Real Estate Alumni Affinity Council, welcomed attendees and provided background for the tasks at hand. Monique Catoggio (EMBA '03), College director of alumni and partner relations, described committees before the participants broke into planning groups at their Steering Committee meeting on June 16th.

.: Alumni Circle holds first mixer.

From left, Alumni Circle members Carlos Garcia, Lance Benson (MBA '03), Margaret Brisbane (BBA '80), Daniel Linares (MBA '98) and Howard Shore (BBA '91, MBA '96).

   The Alumni Circle, a group of mid- to senior-level executives who offer advice and support on major initiatives to the administrators and deans of the College, recently enjoyed an informal gathering at the Tarpon Bend restaurant in Coral Gables.

   "Even though Alumni Circle members know each other from the work they do to help the College, the mixers provide an opportunity for them to get to know each other in a social environment and to build camaraderie," said Cristina Jaramillo, the College's coordinator of alumni and partner relations.

   A new member of the Alumni Circle, Alex Soria (BBA '89), president of RBS Re, attended the get-together, as did Monique Catoggio (EMBA '03), the College's director of alumni and partner relations.

   A breakfast for Alumni Circle members is the next planned event. It will be hosted by Circle member Demian Bellumio (BBA '00), vice president, corporate finance and development, Terremark Worldwide, Inc.

.: CEO Mark Perlberg shares his story in Business Alumni Chapter’s Speaker Series.

Arturo Aviles (BBA '01), Business Alumni Chapter director of speaker series and credit manager at Wells Fargo, Executive Dean Joyce J. Elam, and Mark Perlberg, president and CEO, Oasis Outsourcing.

   The Business Alumni Chapter, together with SouthFlorida CEO magazine, hosted the first lecture of the 2005-2006 South Florida CEO Speaker Series on July 27th at the Omni Colonnade in Coral Gables. The lecture, titled "Identifying and Implementing Sound Management Principles in Rapidly-changing Environments," featured Mark C. Perlberg, president and chief executive officer of Oasis Outsourcing.

   Perlberg delivered an informative talk providing a glimpse inside one of the nation’s leading Professional Employer Organizations (PEO). He shared the triumphant story behind Oasis Outsourcing and gave an overview of the fast- growing PEO industry and his personal management style. By applying his management principles, Perlberg has led his company, which has well over 50,000 employees and more than $1.3 billion in revenues, to great success.

.: Alumni Career Fair returns by popular demand!

   The Alumni Career Fair, hosted by Florida International University’s Alumni Association, provides an opportunity for University alumni to find the job they’ve always wanted. A variety of companies from around the nation and region will be present, so alumni should come dressed to impress and be sure to bring several copies of their resumes. Free resume critique will be available.

Alumni Career Fair
   Date: September 12, 2005
   Time: 6:30 pm- 9:00 pm
   Location: Graham Center Ballrooms, University Park Campus
   Cost: Free, on-campus parking available
   Light refreshments will be served.

   For a complete list of employers attending the fair, please visit http://career.fiu.edu. For more information, e-mail alumni@fiu.edu.

.: Master of International Business student helps chili company see green.

MIB student José Carlos Ortiz (far right) with Carlos Soto of Technoserve and José Alfredo Garcia of Chacon Agro Industry, the host company for Ortiz's assignment.

   One of the most important chili sauce companies in Honduras, Chacon Agro Industry, founded in 1986, initially relied on nearby producers, depended on a manual process using windmills, had only one employee, and served a local market. Still a family business and run by the founder's grandson, Carlos Chacon, the enterprise currently purchases raw materials (cayenne, Tabasco, habanero, and jalapeño) from 160 small independent producers and is looking for ways to extend its customer base.

   The John Ogonowski Farmer-to-Farmer program, funded by USAID, has helped—in the form of José Carlos Ortiz, a Master of International Business (MIB) student in the College's Chapman Graduate School of Business. He analyzed the company's marketing chain during a three-week assignment that had him traveling the country to examine supermarkets and their buying preferences, among many other tasks—and the answer came up green.

   "I looked for product differentiation and exclusiveness," Ortiz said. "In supermarkets in Florida and Puerto Rico, there are three or four chili sauces on a shelf, but in Honduras the sauces occupy six or seven shelves with more than ten or twelve products. In order for Chacon's product not to disappear I recommended they commercialize green chili sauce at a premium price."

   Based on his detailed analysis of the company, the market, pricing, and distribution, he also suggested that Chacon offer just the chili paste—the basis for chili salsa—and not the finished sauce for international markets.

   As an essential part of his contribution, Ortiz examined marketing issues, including ways to improve the product label.

   "The company has not invested in marketing activities, but they show interest in starting to do so," he said.

   Though he had traveled to Nicaragua and the Dominican Republic before, he had never been to Honduras, and he had never before lent his business expertise to someone in another country.

   "I am grateful that I took this assignment," he said. "It was an unforgettable experience and I would not hesitate to do it again."

   Part of the enjoyment came from applying his academic background to practical matters.

   "I liked being able to use what I have learned in my classes, such as doing a SWOT analysis to figure out what the company should or should not do, what recommendations would be most effective, and what would be a good starting point," he said. "Everything in my studies was a guide to the things I should keep in mind to make a sound analysis."

   While recognizing that the assignment will advance his career, helping others factored more heavily into Ortiz's positive response.

   "The feeling that you can help a company achieve its goals or help it do things better is what makes it all worthwhile," he said.

   For more information about the program, visit www.entrepreneurship.fiu.edu/usaid. To learn how to participate, contact Carmen Algeciras, director, USAID Farmer-to-Farmer Program in the College, at 305-348-0399 or e-mail algecira@fiu.edu.

• Agustín "Tino" Herrín (BBA '94) president of Sedanos Supermarket, president of General Real Estate Corporation, and 2005 FIU Entrepreneurship Hall of Fame Inductee, was featured in July's issue of South Florida CEO magazine.

• Benjamin F. Gilbert Jr. (MBA '94) has been appointed to the board of the Children's Trust by Governor Jeb Bush. He is vice president of Montenay Power Corporation.

• Fernando Mesia (MBA '97) has been named vice president of corporate lending at Commercebank.

• Lisa Bernardo (MBA '03) joined Palms West Hospital as director of marketing and community relations.

• George Bermudez (BBA '03) has been appointed senior vice president, middle market manager, at Commercebank.

   Have you been promoted or changed jobs? Update your information.

.: Fifth International Executive MBA cohort graduates in Jamaica.

Members of the fifth cohort of the International Executive MBA (IEMBA)—Jamaica graduated on June 12, 2005 at a ceremony in New Kingston, attended by eighteen of the students, including Susanne Lyon, second row, second from left.

Since its launch in 1999, the International Executive MBA (IEMBA)—Jamaica program has enabled 116 working business professionals to earn an MBA without interrupting their careers. The eighteen-month, lock-step program is a collaborative effort between Florida International University's Chapman Graduate School of Business and University College of the Caribbean (UCC), Kingston. The fifth cohort—25 members strong—graduated June 12, 2005.

   Harry Smith, commercial director of Digicel Jamaica, the country's largest mobile service provider, was the commencement speaker. Flavia Iuspa, program manager of the College's Global Programs Office; Donald Roomes, academic director, José de la Torre, Chapman Graduate School Dean; and Deanne Butchey, visiting instructor, Department of Finance, participated in the ceremony, which took place at the Knutsford Court Hotel in New Kingston.

IEMBA—Jamaica graduate Leroy Crooks receives his diploma from José de la Torre, Chapman Graduate School Dean, while Flavia Iuspa, program manager of the College's Global Programs Office, looks on at the commencement ceremony on June 12, 2005.

   Fifteen years after completing her undergraduate degree in urban estate management in London, Susanne Lyon is delighted to have her Executive MBA in hand. She chose the program because of its flexible fee payments and schedule and its up-to-date lectures.

   "I enjoyed the exposure we got to current thoughts, the student-centered approach, and the access to abundant material and resources to enhance our learning experience," said Lyon, who plans to come to the United States. "I can look ahead to this move with confidence because of my degree from Florida International University. It's great."

At the June 12, 2005 graduation ceremony of the IEMBA—Jamaica, Jeremy Richards received the Academic Award of Excellence for the highest GPA in the cohort—a 3.89. He is pictured with José de la Torre, Chapman Graduate School Dean, Flavia Iuspa, program manager of the College's Global Programs Office; and Donald Roomes, academic director of the IEMBA—Jamaica.

   She credits the program with sharpening her professional skills at work and as a teacher.

   "The IEMBA gives me more credibility and confidence in my management decisions and directions," she said. "I'm pleasantly surprised to find that activities and initiatives that I now pursue instinctively align with management and operational directions used by CEOs of Fortune 500 organizations. Also, I lecture part-time at the University of Technology, Jamaica, and the IEMBA has enhanced that experience."

.: BBA+ program reaches major milestone.

Students and professors attend BBA+ Sunrise graduation ceremonies.

   The first two cohorts to take the BBA+ program at Florida International University's Pines Center in Pembroke Pines have graduated. The eighteen students from the BBA+ Weekend and the eleven from the BBA+ Sunrise classes were feted on July 8, 2005, at a dinner reception in the Faculty Club at the University Park campus. They walked in the May Commencement exercises.

   The BBA+, with its lock-step, technology-enabled, customized curriculum, gives students who have associate degrees and are majoring in either management or international business the chance to conveniently and quickly earn a business degree. BBA+ Weekend takes just seven twelve-week sessions to complete, while BBA+ Sunrise (known as the Early Bird BBA when the cohort members began their studies), can be finished in as little as eighteen months.

   At the reception, Donald Roomes, director of the BBA+ programs, congratulated the graduates, thanked them for selecting the College of Business Administration at the University, and commented, "I challenge you to consider your own success as a matter of decisive action, determined by your commitment and continued persistence toward set goals."

   Donald Fair, the College's associate dean of finance and budget, conveyed greetings from College Executive Dean Joyce J. Elam.

   The students themselves presented a number of awards. Brian Schriner, Department of Speech and Forensics, received the Circle of Excellence from the BBA+ Weekend cohort, while the BBA+ Sunrise students awarded the Circle of Excellence to Wendy Gelman, School of Accounting. The BBA+ Weekend cohort made three additional awards to professors: most informative—José Lopez-Calleja, Department of Economics; most motivational—Clifford Perry, Department of Management and the College's associate dean for undergraduate studies; and most enthusiastic—Thomas Tarangelo, School of Accounting.

   From its side, the program made two awards to students, each for achieving the highest grade point averages in their cohorts. The valedictorian for BBA+ Weekend was Wei Moo Young; Mickey Shuman captured the award for BBA+ Sunrise.

   "It was important to me to have my degree, but I couldn't go to school during the day," said Shuman, who is married, has three children, and works fulltime. "It would have taken me years, enrolling in a course here and there, especially since the classes I needed might not have been available when I needed them. The BBA+ Sunrise was a great opportunity for me to finish my degree and finish it quickly, and I see it as a great investment in my future."

   Among the attendees was Martin Luytjes, Department of Management and International Business, who teaches in BBA+ Weekend.

   "These students give up 48 weekends a year," he said. "They have fulltime jobs and go to school fulltime, taking a very demanding curriculum, on the weekends. It was a special honor to participate in an event that recognized such a dedicated group."

.: Chapman School's new MBA for Public Managers meets pressing need.

Clark Wheatley, associate professor of accounting, meets with Jacqueline Carranza, Carolina Lopez and Gustavo Knoepffler, three students in the MBA-MDC program, the popular program on which the new MBA for Public Managers is based.

   With the worldwide push to ensure that government behaves like a business—accountable, efficient, and able to maximize resource use—county, state, and federal offices are seeking programs to help them achieve these goals. The MBA for Public Managers, offered through the Chapman Graduate School of Business in the College of Business Administration at Florida International University, provides an excellent solution.

   Based on the School's prestigious Executive MBA program and building on the success of its earlier MBA-MDC (customized for Miami-Dade County employees), the cohort-based offering includes thirteen business courses. It also includes two electives in fields related to public administration, social welfare, and international relations. Classes for the newly-forming cohort will take place Friday evenings and Saturday mornings at the Downtown Campus of the College's Chapman Graduate School beginning in August.

   "We developed the MBA-MDC with the input of Miami-Dade County officials and will now expand it to other public employees," said Flavia Iuspa, program manager.

   Now only does the program give any public manager the opportunity to earn an MBA in approximately eighteen or nineteen months, but also, participants can opt to specialize in an area such as accounting, finance, or human resources and obtain an academic certificate.

   Plus, it promotes networking among public managers.

   "With students coming from across our community and from different government branches, the chance to share best practices and problem solving efforts is always there," said Luis Casas, director of marketing and corporate relations for the Chapman School. "This mix will make the experience more enriching and will lead to the cross pollination of ideas across many agencies and government departments—a benefit to the participants and the publics they serve."

   For more information on the MBA for Public Managers, contact Iuspa at 305-348-1987 or e-mail iuspaf@fiu.edu.

.: International business students get on track for success in China.

   Beginning with the August, 2005, cohort, the International MBA (IMBA) program in the College's Chapman Graduate School of Business will offer a new option to its students: a China track. Students who opt for this track will be able to study Mandarin while they pursue their IMBA coursework. In addition, they will be able to put their language skills into practice at a prestigious university in China during a month-long study abroad opportunity, replete with scholarships for tuition, room, and board.

   "We recognize that language proficiency is key for people who want to expand their careers into China where some of the most exciting business opportunities in the world now exist," said Paola Moreno, program manger for the IMBA. "For example, China is second only to Latin America as Florida's largest trading partner. Also, firms in China need managers from the United States—people who know the country's language and culture."

   To support the program, the College has signed an agreement with the Chinese Ministry of Education. Under the agreement, the College and Florida International University are one of six HSK centers in the United States. HSK is the official language test that Chinese universities and firms require. In addition, the China National Office for Teaching Chinese has given the Chapman Graduate School twenty scholarships to support the first one-month study abroad in China, slated for the summer of 2006.

   "We're thrilled that we're able to offer our students this new opportunity," Moreno said. "It adds more global breadth and greater depth to the successful program we already have in place."

   For more information on the IMBA China track, contact Moreno at 305-348-6880 or e-mail morenop@fiu.edu.