Undergraduate Commencement Keynote 2011

Posted on by Claire Hall

It has been almost twenty years since I last sat in this auditorium and listened to a speaker telling us not to do anything stupid.  But most of us, including myself, ignored the advice.  This time around, the roles have been reversed.  I am now the one standing here with the task of giving out words of wisdom.  I am honored to be here today.

This invitation gave me a moment to reflect upon how UConn has influenced my career since the very first day I stepped foot on this campus.  The professors who taught and advised me along with the many great individuals I have encountered here at UConn have helped me to become who I am today.

Over the next couple of minutes, I would like to share with you my experiences as an academic turned chief executive, and offer my opinion on the characteristics necessary to succeed in any of the fields you may find yourself in.

The first piece of advice I would like to offer you is that life is unpredictable.

My decision to attend UConn was out of sheer coincidence.  I used to work in the semiconductor industry in Taiwan, but my wife wanted to pursue her academic career, so we found our way to Storrs.

Initially, my family and I had a difficult time adjusting to the sudden change in scenery.  Before we came to Storrs we lived in Taipei, a bustling metropolitan city.  The plain but friendly New England country side was unlike anything we had ever encountered.  But after six years, with the help of numerous great Professors and friends, I successfully completed my Ph.D.

Upon graduation, I returned to Taiwan and my career quickly flourished.  I spent many years as a Professor but eventually left to pursue a career in the financial world.

I am deeply connected to UConn and view it as my second home, a place where many extraordinary things happened for me.  With that being said, four years ago, I asked my son to enroll in UConn for his bachelor’s degree.  Although he was at first reluctant and shocked by all the cows, trees, and more cows here in Storrs – like his father, he quickly embraced the new environment.

I believe God led me to Storrs for a reason.  I am grateful for everything that has happened to me and my family during my time in Storrs.  This is proof that sometimes life is unpredictable—and if you are willing to embrace your new environment and the challenges that it brings—then fantastic things will happen.

In your life, you will always have the opportunity to make your own decisions.  I offer my life experience as proof. I started my academic research in Mathematics at UConn, but ended up graduating from the Business School with a doctorate in Finance.  I joined academia after graduation, but am now a successful executive.  Life is not a race, but a journey to be chosen and savored each step of the way.

The second piece of advice I would like to offer you deals with the characteristics you should possess upon entering the business world.

Traditionally, MBA programs have taught students that the core principal of business is to maximize corporate value for shareholders.

However, in the real world, this dogma has been corrupted into maximizing stock prices for corporate managers, instead of maximizing corporate value for shareholders.  This distortion of values is especially evident in the financial industry.  Having witnessed three major financial crises in my lifetime, I am convinced that the unethical measures taken by top executives to pursue their personal wealth were contributing factors to the crises.  Therefore, I strongly believe in taking ethical actions to maximize firm value.

What other lessons can we learn from these crises?  I believe most of you are still dreaming of joining big name firms on Wall Street in hopes of a life filled with riches.  But sometimes we are blinded by these dreams and do not take time out of our lives for self-reflection.

After we succeed, we easily become arrogant and fail to appreciate the efforts of our team members.  Do not be conceited, but be self-confident and humble.  Humility is the one and only trait that all great leaders have.  Pursue your goals with this in mind.

Lastly, but most importantly, do not set your goals based on what others deem important, but set them based on what you, as an individual, believe to be important.  Instead of concerning yourself with the compensation offered by companies or stocks, you should focus on creating your exclusive value by tackling every obstacle that you may encounter in your career.

Lastly, I would like to convey my sincere gratitude to a person who has made a profound influence both on my academic life and my business career.

Gene Sellers, my mentor and teacher when I was at student at UConn, is the man I am deeply indebted to and will always remember with fondness.  He provides students not only with academic knowledge, but with ethical knowledge as well.  He is a great man who is always generous and amiable to students, but treats himself with stern discipline.

Being a doctoral candidate, I spent much of time conversing with him during my studies.  One day, I think it was the summer of 1989, he and I walked through campus discussing my future.

He asked me what I would like to do if I became successful after leaving school.  I told him I would like to do many things.  But most importantly, I would give back financially to the school to fund future talents.  As such, by taking this great moment and regarding UConn as not only my alma mater, but as my second hometown, I would like to make my regular donation to my beloved school.  Hopefully, it will allow talented individuals to discover their own true value and change the world.

Finally, as a parent attending my son’s commencement ceremony later this evening, I am deeply touched and extremely grateful for all that this institution has done for my family.  As a father, I am very proud of him and would like to thank UConn for its part in making my son who he is today.

One day, when I have a grandson or granddaughter, I would hope that he or she might one day step foot on this campus as a student.

Best of luck, every one of you, and congratulations my fellow UConn graduates!

University of Connecticut

Storrs, CT
April 28, 2011

About the Speaker

Gwo-Duan “David” Jou ’89, ’92 Ph.D.
Founder and Chairman, Bigrock Asset Management Company

Dr. Gwo-Duan “David” Jou is the Founder and Chairman of Bigrock Asset Management Company. The company focuses on direct investments, providing consulting services to major life insurers in Taiwan and property development. Prior to Bigrock, Dr. Jou served as Chairman and Chief Executive Officer of Hontai Life Insurance Company, Ltd. in Taipei, Taiwan from 2005 to 2010 where he successfully turned the company around during his first year of service. Under his leadership, Hontai Life enjoyed a buoyant asset growth with CAGR over 20% and a decline in funding costs from 5.1% to 3.9%. Dr. Jou has over 20 years of experience in the Taiwan life insurance industry and plays active roles in regulatory entities, including Chairman of the Taiwan Insurance Institute, Commissioner of the National Pension Fund and Commissioner of the Financial Institution Reform at the Republic of China. He is also on the boards of TaiKang Life China, Taiwan Life Insurance Company, and is Chief Advisor in the Greater China Market for the Zurich Financial Group as well as the Chief Advisor for the Taiwan Insurance Market at Credit Suisse. In 2004, he served as Chairman of the Insurance Anti-Fraud Institute and as Director of Taiwan Life Insurance Company and the Bank of Overseas Chinese. During Dr. Jou’s term as Chairman of the Taiwan Insurance Institute, he successfully conducted the first ever case of liquidating a local insurance company: Kuo Hua Property and Casualty Insurance Company. Dr. Jou earned a Master of Science in Mathematics from the University of Connecticut College of Liberal Arts and Sciences in 1989 and a Ph.D. in Business Administration from the University of Connecticut School of Business in 1992. Dr. Jou and his wife, Frances ’90 MS, are International Alumni Ambassadors for the UConn Alumni Association and live in Taipei, Taiwan. Their son, Geoffrey, is graduating at this year’s Commencement from the University of Connecticut School of Business with a degree in Finance.

CCEI Holds University-Wide Business Plan Competition

Posted on by Claire Hall

For the second year in a row, the Connecticut Center for Entrepreneurship and Innovation (CCEI) at the University of Connecticut School of Business held a business plan competition. However, this year the competition was expanded university-wide to include any unique business ideas and innovation from all academic levels and majors at UConn, attracting 76 UConn teams to submit their intent to compete. “We are thrilled with the level of interest in entrepreneurship we discovered through this competition,” states Christopher Levesque, Director of CCEI. “The finalists not only submitted strategically sound and well expressed business plans, but also greatly impressed the judges with the refined delivery of their presentations.”

There were many interdisciplinary teams, which helped bring a broader array of perspectives and ideas to any project. Part of the promise of this competition was that all submitted plans would be reviewed by experienced entrepreneurs, investors and UConn faculty. Additionally, this year, The CCEI hosted a workshop in late March dedicated to helping teams improve and polish their plans to help maximize their prospects for success. At this workshop, the competitor teams were presented a brief seminar on what makes a successful business plan and were then given one-on-one time to work with professional and student mentors.

There were 36 official competition entries and ten finalists. The finalists were offered additional mentoring meetings, and many teams took advantage of this in order to continue to improve their plan under the guidance of an experienced entrepreneurial mentor. The finalist presentations were held in late April at the School of Business. The judges for this competition were: Christopher Levesque, Director of CCEI; Kevin Bouley, President & CEO of Nerac, Inc.; Mark Van Allen, President of UConn R&D Corporation; Danny Briere, CEO of TeleChoice; Mary Anne Rooke, President of the Angel Investor Forum; Eric Knight ’82, President of Remarkable Technologies; and Amit Kumar, Senior Business Consultant at UTC Power.

Eric Knight noted, “The University has unlocked a fertile, untapped business energy that could be of tremendous benefit to the State of Connecticut. From this one competition alone, perhaps a dozen real businesses will be born. Who’s to say we don’t have the next Facebook percolating in our midst? Or the next generation of fuel-efficient transportation?”

Among the finalists, Tennis Professionals, a team comprised of two senior Resource Economics majors, Andrew Marcus ’11 and Jesse Silkoff ’11, presented the most well-developed business plan. The CCEI is pleased to award them the grand prize in our 2011 UConn Student Business Plan competition. Second prize went to Hemskies, and third to Combat to College.

“Jesse and I entered the CCEI competition with plans of expanding TennisProfessionals.com after we graduate. It was a great experience writing the business plan, making the finals, and presenting the business plan to respected business executives,” notes Andrew Marcus. “It is one thing for Jesse and I to believe in our own business idea, it is even more satisfying to win a competition and see that others believe in our business as well.”

This competition was an extremely effective and successful way to tap into the burgeoning entrepreneurial spirit here at the University and throughout the State. With the success of the 2011 CCEI Business Plan Competition and the strong student interest in entrepreneurship, the competition organizers plan to run next year’s event over a longer and more continuously mentoring and refining period. In the meantime, the CCEI is extending an invitation to all teams who submitted a letter of intent to compete in the competition to continue discussions and guide them to take advantage of resources The CCEI can bring to bear.

“Our ultimate intent at the Center for Entrepreneurship and Innovation is to identify, mentor and help develop new businesses here in Connecticut, and Tennis Professionals, along with the other finalists, represent terrific examples of such promising firms,” stated Christopher Levesque.

For more information about CCEI, please visit http://ccei.business.uconn.edu.

UConn Graduates Travelers EDGE Scholars

Posted on by Claire Hall

The University of Connecticut proudly celebrates the graduation of the 2011 Travelers EDGE Scholars. Travelers EDGE (Empowering Dreams for Graduation and Employment), is a partnership with  Travelers, the University of Connecticut, Central Connecticut State University and Capital Community College.  The goal of the EDGE initiative is to improve access to and success in post-secondary education for undeserved communities and to build awareness of insurance and finance careers in this population. UConn’s EDGE initiative has three components: financial assistance, academic support services and activities for undergraduate students as well as outreach programming for middle and high school students.  Since its inception, 58 deserving students (including some who transferred from the EDGE program at Capital Community College) have been awarded Travelers  EDGE scholarships.

Through Travelers EDGE, the graduates participated in a wide variety of activities including resume critiques, mock interviews and improving their personal finance, project management and computer skills. Additionally, Travelers employees took part in the development of the students; in fact, since the program’s 2007 launch, approximately 200 employees have supported scholars as mentors and managers.

“Travelers is committed to removing barriers to education and career success faced by underrepresented students,” said Marlene Ibsen, Vice President of Community Relations. “Through our relationships with local colleges and universities, we are able to provide hands-on work experience in our industry as well as financial assistance to students who, when given the opportunity, are able to excel.”

Program Director, Seanice Austin says, “we are pleased with the partnership with Travelers and the opportunity EDGE affords our students. Students in this program are better prepared academically as well as professionally.  As employees, our graduates will be able to contribute immediately to Travelers and any other organization they work for”.

This year’s graduation celebrates the graduates from the three EDGE partner institutions; University of Connecticut, Capital Community College and Central Connecticut State University.  The UConn graduates are  Omar Cassells, Business & Technology; Teresa Frausto, Accounting; Sandie Gong, Math & Economics; Eric Jain, Accounting; Elliot King, Accounting; David Macklem, Actuarial Science; Emily McDonnell, Management & French; Xiomara Ortiz, Business & Technology; Christian Osorio, Electrical Engineering; Sneha Parikh, Communication Disorders; Daniel Ratner, Management; Jayna Velez, Management; Prasant Venimadhavan, Accounting & Mathematics; Rex Winful, Business & Technology; Tracy Wright, Business & Technology.

At the graduation, held at the Hartford Marriott Downtown, Travelers EDGE scholar Sandie Gong talked about her experience as a Travelers intern. In addition to representatives from Travelers, CCSU President Jack Miller, Capital Community College President Wilfredo Nieves, and UCONN Business School Dean Dr. P. Christopher Earley also attended the event.

Pictured (left to right): Omar Cassells, Teresa Frausto, Sandie Gong, Emily McDonnell, Elliott King, Xiomara Ortiz, Rex Winful, Sneha Parikh, Jayna Velez, Tracy Wright, Seanice Austin

UConn Teams Among Finalists in Statewide Business Plan Competition

Posted on by Claire Hall

Four teams from the University of Connecticut were amongst the 15 finalists out of over 80 submissions in the Statewide Business Plan Competition run by the Entrepreneurship Foundation.  The competition was held on Friday, April 22 at the New Haven Lawn Club.

The competition presented four awards. UConn undergraduate team, “Innovrr”, led by senior business student Wen Jie (Jolina) Li, won the Best Pitch Presentation Award.  Also in Jolina’s team were fellow business students Yuan (Eva) Xue, Lucian Stroie, and May (Maggie) Li.   Other awards went to teams from Quinnipiac, Yale and the University of Hartford.

For more information on this competition, please visit .

Pictured (left to right): Lucian Stroie, Wen Jie (Jolina) Li, Prof. Luke Weinstein, and Yuan (Eva) Xue.

Entrepreneurship Bootcamp for Veterans at UConn to Benefit from $1M Wal-Mart Foundation Gift

Posted on by Claire Hall

At a White House event today hosted by First Lady Michele Obama and Dr. Jill Biden, wife of Vice President Joe Biden, the Wal-Mart Foundation announced a two-year, $1M grant to support the continued development and expansion of the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) program, an experiential business development initiative provided through a network of some of the best business schools in the United States,  including the University of Connecticut.

The EBV program was founded in 2007 to offer training in entrepreneurship and small business management to post-9/11 veterans with disabilities resulting from their military service. The aim of the program is to open the door to economic opportunity for veterans by developing competencies in the many steps and activities associated with creating and sustaining an entrepreneurial venture. More than 300 service-disabled veterans have graduated from the EBV program since its inception and graduates are responsible for the creation of more than 150 new, small businesses. The training is provided at no cost to eligible veterans and is currently offered at UConn, Syracuse, UCLA, Purdue, Florida State, Louisiana State University and Texas A&M University.

The University of Connecticut joined the EBV consortium in 2010 and conducted its first training program last fall. The EBV training consists of three stages: an online curriculum for 45 days; resident training on campus at an EBV university for 9 days; and mentoring and continued support for 12+ months. More than 20 returning Iraq and Afghanistan combat veterans attended UConn’s initial classes on the Storrs campus. At the graduation ceremony held in Hartford, UConn School of Business alumnus Bill Simon ’81 , Walmart U.S. president and CEO, was the featured speaker.

“I cannot think of a single more important endeavor for us than helping support those individuals who have committed so much of themselves on behalf of their nation,” says Dean Chris Earley of UConn’s School of Business. “The EBV program is unique and compelling in that we not only reach out to these highly deserving individuals, but we also help foster the economy through their business successes at a time that the nation needs such ingenuity and impact. We are extremely proud to be one of the host schools for the EBV program.”

In all, the $1 million gift from the Walmart Foundation will help send 300 veterans with disabilities to entrepreneurship bootcamp at one of the university partners, as well as facilitate the expansion of the program to two additional schools. The funds will also support small business training for more than 100 military family members. UConn, as a member of the consortium will share equally in the proceeds from the gift.

More information about the EBV Program at UConn is available at http://ebv.business.uconn.edu.

UConn Business Students Win Annual Campus Case Competition

Posted on by Claire Hall

Three UConn School of Business students win The Hartford Financial Services Group’s inaugural Annual Campus Case Competition at The University of Connecticut.

On Friday, April 1st, Christopher Laliberte, Seth Rosenberg and Christopher Meyer, all juniors, won 1st prize in a case competition which was focused on a team’s ability to research and analyze a business technology issue and to provide creative solutions.  The other participants were Elizabeth Gingrave, Michael Ford, Daniel Hanley, Michael Koltracht,
Kevin Milot, Loi Nham, Ava Xue, Kyle Haythorn, Dominick Fatibene, Jeff Scapinni, Jovanni Valentini, Christopher Czarnowksi, Mike Keller, Kellie Morrissey, Darryl Blain, Jose Cabanero, Juan Ramos, and James Dey.

Six teams participated in the competition, assisted by mentors provided by The Hartford Financial Group.  At the conclusion of a week long process, the teams presented their solutions to a panel of judges consisting of senior executives from The Hartford.  Mark Gelinas, College Relations Director, stated that his team was impressed by the UConn School of Business students’ passion, creativity and professional style during the presentations.

First Annual Etiquette Training Event

Posted on by Claire Hall

The UConn School of Business hosted its first annual Etiquette Training event on April 6, 2011. The event speaker, Dan Post-Senning (the great-great grandson of Emily Post), explained to students that etiquette is not just about knowing which fork to use; more importantly, etiquette is the power that fuels our business relationships and offers a guide to success by combining manners and principles.   The Emily Post Institute’s principles have been guiding business professionals since 1922 when Emily Post first wrote “to make a pleasant and friendly impression is not only good manners but equally good business.”

Two events were held on April 6th, each specifically geared toward MBA’s and Undergraduates, respectively, for a total of over 145 students. These events were both sponsored by our corporate partner Pepperidge Farm, located in Norwalk, Connecticut.

UConn MIS student wins an information systems security scholarship from ISACA

Posted on by Claire Hall

In Fall 2010, students from the University Of Connecticut School of Business participated in an opportunity to compete for a $500 scholarship sponsored by the Greater Hartford Chapter of ISACA. ISACA is a leading independent, nonprofit, global association for the promotion of information, guidance and certifications in the field of auditing security controls for computer systems. The competition was held in conjunction with the undergraduate elective course IT Security, Governance, and Audit, offered by Professor Dmitry Zhdanov of the Department of Operations and Information Management (OPIM).

Student presentations were evaluated based on the following criteria:

Relevance of the presentation to the audit and risk management profession

  • The extent of the student’s work including depth of research, ability to communicate and synthesize the materials, approach taken and completeness of the subject matter
  • Delivery of the presentation.

This year’s award was presented to Bryan Sovinsky (pictured), a senior in Management Information Systems (MIS).  His project presentation covered the topic of Steganography, the art of concealing secret messages within ordinary computer documents, akin to writing in invisible ink. The Chapter also awarded five other participants – Gregory Coppola (MIS), Daniel Turcotte (MIS), Juan Ramos (ACES), Pathik Patel (Accounting) and Lori Gupta (Finance) – an annual membership in ISACA for their presentations which covered a wide range of topics on computer security.

The awards were presented and their achievements celebrated at a February 16, 2011 chapter meeting.

ISACA is a leading non-profit global provider of knowledge, certifications, and education on information systems (IS) assurance and security, enterprise governance and management of IT, and IT-related risk and compliance.  ISACA hosts international conferences, publishes the ISACA Journal, and develops international IS auditing and control standards, which help its constituents ensure trust in, and value from, information systems. ISACA also advances and attests IT skills and knowledge through the globally respected Certified Information Systems Auditor™ (CISA®), Certified Information Security Manager® (CISM®), Certified in the Governance of Enterprise IT® (CGEIT®) and Certified in Risk and Information Systems Control™ (CRISC™) designations.

From 1978, the Greater Hartford Chapter of ISACA has promoted the professional education and development of its members in the field of technology auditing and risk management.  For more information, visit .

The Department of Operations and Information Management (OPIM), which offers the highly acclaimed Management Information Systems (MIS) undergraduate program, is consistently ranked in the top 25 in information systems graduate education (US News) and among the most productive and impactful research departments in the world (OR/MS Today, Communications of the ACM, Communications of the AIS, and AISNET). For more information, visit http://www.business.uconn.edu/opim/

UConn Announces MSBAPM Program

Posted on by Claire Hall

The University of Connecticut School Of Business is pleased to announce a new and innovative master’s degree program from the Department of Operations and Information Management (OPIM).  The Master of Science in Business Analytics and Project Management (MSBAPM) is designed to meet the growing demand for professionals who can analyze, organize and manage high-value business solutions in today’s complex business environments. This 33-credit program, offered in Hartford, Connecticut, allows students to pursue the program either full or part-time beginning in any regular semester.  Applications are now being accepted for the program kickoff in Fall 2011. Continue Reading