General Dempsey Delights Audience with Strategies for Leadership, Teamwork, Innovation–and Humility

General DempseyLead with a “servant’s soul,” always be well-informed, select persuasion over force, and strive daily to win the trust of your colleagues.

That was some of the advice offered by U.S. Army General Martin Dempsey, the highest-ranking military officer in the country, during the keynote presentation at this year’s Geno Auriemma UConn Leadership Conference, sponsored by the UConn School of Business. Dempsey, the chairman of the Joint Chiefs of Staff, offered lessons from his military career that carry over to the corporate world.

The theme of the two-day conference, Oct. 22 and 23 at Mohegan Sun, was leading for innovation and change. He spoke to nearly 200 entrepreneurs and business executives from Connecticut and beyond.

Dempsey began his speech discussing the Cuban missile crisis in October 1962—exactly 52 years to the day of his presentation. He discussed how President Kennedy was confronted by a series of options and had the painstaking work of determining what course to take. Eventually he decided on a blockade of Cuba, and it worked.

“You make decisions always in uncertainty. There is never enough information,” said Dempsey, who is in charge of some 2 million military personnel and is the top military adviser to the president. “You can actually paralyze yourself in the effort to get just one more piece of information. Don’t overwhelm yourself and everyone around you with too many options.”

Trust is the underpinning of all leadership, Dempsey said, and is another trait that transcends military and corporate success. He talked about an Air Force para-jumper, part of a military rescue team, who 12 times rappelled off the side of a mountain in Afghanistan, while under machine-gun fire, to rescue his fellow airmen.

“I said, ‘What were you thinking?’ and he said, truthfully, ‘I wasn’t thinking about much except “I have to go…they’re my teammates,”‘ Dempsey said to the audience, which was quiet with intrigue.

“We are the finest military in the world, not because we have the coolest equipment. And we do. Or the finest uniforms. I think the Marines have those. It’s because we trust each other. In the military, you must trust the man or woman to your left and to your right; the chain of command; the medic who is caring for you; and the pilot who will stand a helicopter on its nose in any kind of terrain, altitude and weather to get you out of there.

“As we talk about leadership and innovation… I believe innovation might make you more efficient and effective, but it won’t make your team better unless it is built on that foundation of trust,” he said.

Other key speakers during the two-day conference included Andy Bessette, executive vice president and chief administrative officer at Travelers; Bob Diamond, former chief executive of Barclays and currently founder and CEO of Atlas Merchant Capital; Manon Cox, president and CEO of Protein Sciences; Matt Fleury, president and CEO of the Connecticut Science Center; Christine Potter, vice president of Stanley Black & Decker; Karen Munson, vice president of Munson’s Chocolates; and Michael Jackson, vice president at NIKE. Many of them referenced Dempsey’s comments in their own presentations.

“The whole conference was very thought-provoking for me,” said Mike Guido, vice president for product concept development at Prudential. He described the general’s speech as inspiring and said he learned a great deal from other speakers about embracing technology. “I work in financial services and I think our industry needs to evolve and make changes. We can learn a great deal from other industries.”

Another trait of an exceptional leader is adaptability, Dempsey said, noting that U.S. Special Ops forces didn’t use high-tech strategies in the early days of the conflict in Afghanistan. Their vehicle of choice was a horse.

“Our adversaries know if they stand toe-to-toe with the U.S. military, they will be defeated,” he said. “They have become very adaptable. They are thinking organizations, as we are. If we fail to innovate, even the finest military team in the history of mankind will fail.”

Dempsey noted that businesses, like the military, face a “drive for immediacy.”

“We’ve been in an air campaign for four weeks and people are asking ‘What happened? Why is ISIS is not defeated?'” he said. “It’s mind-numbing to think that we can overcome 20 years of unrest, disenfranchisement and sectarian- and religious- conflict in four weeks of an air campaign. But that’s kind of what drives us. Decision makers have a drive for immediacy right now.” He went on to say that good business practices, like a marriage proposal, come down to making the right decision at the right time.

He went on to say that no leader can do it alone and that an effective leadership style is something to master. He talked about trying to lead with “a servant’s soul.”

When asked how he succeeds in changing people’s minds, Dempsey said he welcomes divergent opinions.

“The more trust you build the better. The best argument generally prevails. I do my homework before I make a recommendation—and I find I’m generally one of the best prepared in the room,” he said. “But interact with a sense of humility. If I said ‘I know more about this than you,’ that wouldn’t get very far in the White House.”

“I carry around with me a card. On it is written: When is it I allowed someone to change my mind about something?” he said. “If you’re dealing with people and they know you’re open minded, it is a much different conversation than if it is you trying to overwhelm them.”

The general, who will retire next September, said he could ‘bludgeon his way through’ his job, but prefers to leave behind a group of prodigies and a legacy of leadership. Adding a nod to Auriemma, who is a friend, Dempsey said, “Look at the great coaches who get great results,” he said. “They also produce other great coaches.”

Dempsey peppered his talk with personal anecdotes, including a visit from actress Angelina Jolie, which drew thousands from their Pentagon offices, and his experiences with his own Facebook page, which he said sometimes attracts some strange visitors.

But perhaps his most popular story was when he described how, as 40-year old tank battalion commander, he learned about confronting failure during a crucial exercise. Twice a year he had go to a tank range to prove his worthiness and ability to lead 500 soldiers. “Every six months someone looks you dead in the eye to see if you’ve got what it takes,” he said.

The daytime drill hadn’t gone well and to keep his commanding officer status, he had to perform almost perfectly during the nighttime exercise.

“Here I am the tank commander and I’m about to fail miserably. I was never so nervous in my life,” he said. “The sergeant major walks up to me and I expected he was going to give me a little encouragement. He said, ‘Here’s my advice. If you don’t get those points, turn that tank around and keep going. We don’t want any part of you.'”

“I think I learned more about confronting failure that day,” he said. “I passed and I never felt so good about getting a C in my entire life.”

The combination of leadership suggestions and personal stories resonated well with the audience.

Jennifer Runkle, HR manager at Electric Boat, said Dempsey’s speech was amazing. “We’re always looking for new ideas that have worked at other companies,” she said. “Even though we are part of the defense industry, we can learn from other types of businesses. It was very eye opening, very valuable.”

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Alternative Sabbaticals In Industry Develop Skills, Says Associate Dean Suresh Nair

Suresh NairHow do credit card companies decide when to boost your credit line or send you a new-card solicitation in the mail?

And how do banks save millions by carefully managing their cash reserves?

Professor Suresh Nair has worked on these, and other pivotal business-research issues, as a means to enhance his knowledge as an educator and as the associate dean for graduate programs at the UConn School of Business.

A project-based, research-focused sabbatical at a large company can be a wonderful alternative to a more traditional academic sabbatical experience, Professor Nair said.

Not only did his sabbaticals in industry save tens of millions of dollars for companies, he has also received research awards, started a company with seed funding from the National Science Foundation, and transformed and strengthened his teaching.

“This is a largely unexplored opportunity for our faculty,” Professor Nair said following his well-received presentation to more than 50 colleagues this fall. “I’ve participated in sabbaticals at General Electric, Merrill Lynch and Booz & Co., and have had excellent experiences.

“I wanted to use my sabbaticals to pick up new skills. Going back to industry helped me stay on top of current issues in financial services, healthcare and entrepreneurship, and also gave me the opportunity to help these companies achieve their goals,” he said. “I left each of my three sabbaticals with new topics to research, and many ‘war stories’ to share in the classroom.”

To a consumer, credit-card solicitations by mail (sometimes derisively called junk mail) may seem like a random process, Professor Nair said. In fact, it is very complex. Who gets offered a credit card, and at what rate, involves complicated analytics, Professor Nair said.

“A company may start out with 10 million contacts and narrow them down to a million or fewer,” Professor Nair said. “The marketing experts want more customers and the risk experts want fewer. If you go to a store and you’re close to your credit limit, and you want to buy furniture, how does the bank determine if it should increase your credit line? If they don’t, you’ll use another card. If they hike it up too much, they risk higher losses if you become delinquent.”

Professor Nair helped create an algorithm—using credit scores and other factors—to determine who would qualify for a credit increase. His work was so sophisticated and unique that it won the coveted Wagner Prize.

During another sabbatical, Professor Nair worked at Merrill Lynch, delving into research of banking reserves.

“The Federal Reserve requires banks to set aside about 10 percent of your checking account balances as reserves. The bank cannot invest these funds and gets very little interest on it from the Fed,” Professor Nair said. “This rule comes from the Depression era, to prevent a run on banks. However, it means that banks have millions of dollars that they can’t invest.”

Professor Nair helped Merrill Lynch optimize its “sweeps” program to save $4 million a year.

The program was so successful that Professor Nair wanted to develop a similar product for smaller banks. He began a successful start-up in South Windsor using a Small Business Innovation Research (SBIR) grant from the National Science Foundation.

“It gave me a good experience, the satisfaction of making payroll and creating and commercializing a new product,” he said. “It never would have happened without my sabbatical. It gave me a unique perspective as the founder of a company.”

Professor Nair said he began searching for sabbatical opportunities about a year prior to his leave, and that he was selective in the ones he considered. He found that industry was very welcoming, and wondered why more faculty don’t take advantage of similar opportunities. Industry is happy to host sabbaticals, since they are inexpensive to the firm, as long as an educator can demonstrate a skill that will complement and add value to the company.

Professor Nair worked on his sabbaticals without pay from the firm, since UConn continued to pay salary, asking that the corporations only cover his lodging and travel expenses. At the completion of his sabbatical, some of the companies asked that he continue his work as a paid consultant.

“It is difficult work,” he said. “I asked to be treated like an employee, with the badge, the email, the off-site meetings and everything. Sometimes I worked very long hours and I was away from home at least four days a week. It may not be for everyone. But the opportunities you get, and the real-life exposure to business problems and issues, really can’t be experienced any other way.”

After his presentation, many UConn colleagues said his work was eye-opening and that they would consider a similar, alternative sabbatical.

Professor Nair acknowledged that there is some trepidation on the part of faculty, who are under pressure to publish and might find an industry sabbatical a distraction. But Professor Nair has demonstrated that excellent published papers in top journals can result, and allayed some of those fears through his presentation.

“I felt I could navigate a path which would provide both research expertise, topics for publication, and also improve my teaching,” he said. “To me, it hit all the sweet spots I wanted.”


American Bullion College Scholarship

Scholarship Essay Rules

  • Scholarship essay must be a minimum of 500 words, maximum of 2,000 words.
  • Applicant must be currently enrolled at an accredited high school, college, or university within the United States.
  • Applicant must be a legal resident of the United States or hold a valid U.S. student visa.
  • One submission per person, per year.
  • Essays that fail to meet the above requirements will be disregarded.
  • Winners may have their essay featured on the American Bullion website, Facebook page, and blog. For up-to-date information on the scholarship and other American Bullion announcements, follow American Bullion on Twitter and Facebook.

Scholarship Deadlines

  • Application Deadline: January 1, 2015
  • Winners Selected: January 15, 2015
  • Winners Contacted: January 30, 2015

Scholarship Application

To apply for this scholarship opportunity, please complete the following form and include a 500-2,000 word essay answering the question: “Why is gold a good investment for future generations?” –

For more information and to submit your scholarship application go to American Bullion.


The Excel Builders Scholarship

Excel Builders are proud to announce their first-ever college scholarship for the 2015 school year. It is their hope that this $1,000.00 scholarship will make a big difference towards helping one student achieve his or her dreams. The scholarship is available to college students and high school students entering college. Entry close date is December 30th, 2014. Winner will be chosen January 15, 2015.

About Excel Builders Scholarship

Few industries are as close to the changing way that people live their lives as home construction. We’ve seen amazing changes in the way people live their lives since we started in this business, in everything from style to comfort and efficiency. We know that new life-changing innovations are always just around the corner. Who better to tell us about the homes of the future than the nation’s students? Your mission, should you choose, is to prepare an essay on one of the following topics:

  1.      Luxury Topic: With Companies Like Nest Popping Up, Home Design and Customization Has Never Been So Interesting. What Features would You Like to See on the Homes of the Future?
  2.      Sustainability Topic: Environmentally Friendly Home Building is a Hot Topic. How Can We, As Potential Home Buyers, Come to the Aid of our Planet?
  3.      Novelty Topic: Oh no! A zombie plague has swept across the land. Tell us about the defensive and comfortable features of your post-apocalyptic pad.

Learn about the good work we are doing in Maryland and Delaware.

Scholarship Entry

Apply here: scholarship entry form

See official scholarship rules


Diwali

Date: October 24, 2014

MSBAPM hosted a Diwali event, a Hindu festival, that was celebrated this year on October 24th. GBLC’s Observation deck was decorated with lights and craft throughout. “Housie,” a tradition game in India similar to bingo was played and prizes were given out. There were two amazing dance performances and a solo singer who performed that night. The evening concluded with all attendees dancing and enjoying traditional Indian food.


Chairman of the Joint Chiefs Visits Connecticut, Talks Leadership

WNPR News – The nation’s highest-ranking military officer delivered the keynote address at this year’s Geno Auriemma Leadership Conference organized by UConn School of Business. U.S. Army General Martin Dempsey, the chairman of the Joint Chiefs of Staff, spoke about the tenets of leadership that exist in both the military and civilian world.



Costa Rica Immersion Experience: Company Tours

On March 13 – 21, BCLC students will embark on their journey to Costa Rica. During this time they will have the opportunity to visit a number of  Costa Rican companies such as: Grupo ICE & Carton Surfboard Factory.

As soon as students land in Costa Rica, they will travel to a Costa Rican company.  There they will meet with an executive level representative. Students will enjoy a presentation on Finance & Accounting, followed by a panel discussion and tour of the facilities. Proceeding the presentation, lunch will be served.

Day 2, students will make their to another Costa Rican campny. They meet with an executive level representative. Students will enjoy a presentation on Marketing followed by  a panel discussion and tour of the factory.

For more information about the trip please click the following link…

Costa Rica Immersion Trip Details


UConn Doubling Capacity to Cultivate Business Startups

UConn Today – A new construction project now underway on the UConn Health campus, funded by Bioscience Connecticut, will double the University’s total business incubator space for the cultivation of startups throughout the state. Timothy Folta, faculty director of the Connecticut Center for Entrepreneurship and Innovation at the UConn School of Business, notes that incubators provide a variety of benefits to both the startup companies and the University.


Call for Participation: Spring 2015 Innovation Accelerator

CCEI is excited to announce the re-launch of the Innovation Accelerator for the Spring 2015 semester!

We are now seeking applications from students interested in earning experiential learning credit through this program. After an interview process, students will be selected to form interdisciplinary teams and assigned a consulting assignment from a Connecticut-based startup or early stage company. For more information about the program, click on the Innovation Accelerator tab in the menu on this homepage. We look forward to hearing from you soon!