Innovatus

Volume 2 March 2012 Issue

CHALLENGING ECONOMIC CURRENTS

By Dr. Patrick Byrne, ELC Coordinator Page 8

KAUFFMAN FOUNDATION VISIT

Page 3

entrepreneurial leadership center

TABLE OF CONTENTS

KAUFFMAN FOUNDATION VISIT AND REGIONAL RECEPTION

The ELC is proud to partner with several local organizations to host a regional visit and evening reception on March 20th at Harrisburg University to welcome Ms. Katie Petersen, Program Manager from the Kauffman Foundation. This is a unique opportunity for regional leaders to network and share regional economic development efforts with a representative from the internationally recognized Kauffman Foundation. Ms. Petersen leads the development of the iStart and iBridge Kauffman Foundation projects. Both projects are designed to support innovative technology transfer and entrepreneurial development from their inception to fruition in the market place. By linking key players in both academic and business development and nurturing practical applications for innovative ideas, the international iStart and iBridge projects successfully encourage innovative economic development projects and partnerships. Starting in January, a team has been actively planning for Katies visit. The teams goal is to highlight similar partnership efforts in the Central PA region. To best capture a snapshot of the innovative and

Kauffman Foundation Visit and Regional Reception..............................................................................3 Speaker Series Continues...........................................................................................................................4 New ELC Leadership Team.........................................................................................................................5 SIFE and Alpha Kappa PSI Involvement...................................................................................................6 COB Logo Spring Social..............................................................................................................................6 How do I Efficiently Afford College and Avoid Debt?.............................................................................7 Challenging Economic Currents.................................................................................................................8 JDK Group CEO Speaks at ELC..................................................................................................................10 Pitch Competition a Success!....................................................................................................................11

entrepreneurial work of the region, Katie will be visiting the biofuels lab at Penn State Harrisburg, Shippensburg Universitys John Grove School of Business, JDK Groups Camp Hill facility, and Harrisburg Universitys campus. The culminating activity is a regional reception hosted by the JDK Group and Harrisburg Young Professionals. A diverse cross section of regional leaders will be in attendance to informally network and highlight Central PAs innovative and entrepreneurial efforts.
Katie Petersen from the Kauffman Foundation will speak at John Grove Hall, Room 401 at 3:30 on March 20th.

Jenn Delaye, Jim Carchidi, Jennifer Hammaker, and Patrick Byrne at the first planning meeting in January Kauffman Foundation Visit and Regional Reception Partner Organizations:

SPEAKER SERIES CONTINUES

By: Leeza ZhmurkinELC Student Coordinator The ELC was excited to have Jim Carchidi (CSP) of JFC Staffing Companies join us for our Speaker Series on February 21st in the Grove College of Business. Mr. Carchidi is the Executive Vice President of JFC Staffing and has been with the company for 12 years. His presentation focused on The New Economy: What defines business in the 21st Century? and was extremely insightful for college students. The JFC Staffing Companies are recognized as the most sought after staffing resource in the Central Pennsylvania region. Founded in 1975, they specialize in temporary staffing and professional search. JFC strives to give everyone a personal experience in supporting the recruitment process. They are known for their customer commitment, specialized service, and responsiveness. The JFC Staffing Companies comprise of JFC Temps, JFC Global, and JFC Medical; allowing them to reach across a variety of professional outlets. Mr. Carchidi spoke about how his company culture and its family of employees grew to be so successful and well-known, and offering advice to students about making it in the real world. Mr. Carchidi began his presentation about the culture of JFC Staffing and how it is very family and staff focused. There was a time when his parents were approached with the opportunity to sell the company, but they saw that as a loss of a family rather than a loss of a company, and chose not to sell. The same employees that worked for JFC at that time are still with the company today. Mr. Carchidi began working for the company during his sophomore year of college; he began at the grassroots level and worked his way up. Mr. Carchidi then graciously began to offer his advice on the interviewing process and how companies look to hire new employees. He stated that the number of people applying for jobs and the number of jobs available is disproportionate, thus the applicant needs to do something to make themselves stand out. This includes everything from being genuine and authentic, to having a cover letter that pops, to using social media to promote oneself, to being able to hold a level of engagement. Other helpful points that Mr. Carchidi gave us were to get involved in extra-curricular activities, learn to control knee-jerk hreactions that many students are so used to because of social media, and to highlight ones accomplishments and uniqueness rather than just the GPA. The ELC was very thankful to have such an insightful Speaker Series with Mr. Carchidi and we encourage all students to check out the webinar at this link: http://tinyurl.com/ELC-2-21-12. Students can also learn more about JFC Staffing companies by going to: www. Jfcstaffing.com

NEW ELC LEADERSHIP TEAM

The ELC is happy to welcome two new students to its Leadership Team: ELC Student Coordinator Leeza Zhmurkin and ELC Project Manager Jeff Herman. Leeza is a junior Marketing and MIS major. She has attended Shippensburg since her freshman year in the fall of 2009. Leeza has focused her sights on professional growth by joining Alpha Kappa Psi, the professional co-ed business fraternity on campus. She is currently the Vice President of Membership of the fraternity and has been very successful with her three leadership positions within the fraternity in the past. Within the fraternity, Leeza has participated in many philanthropy and professional events throughout her time here at Shippensburg. She is excited to be coordinating her work at the ELC with Alpha Kappa Psis events within the Grove College of Business. Leeza will also be serving as the Ship Mens Lacrosse Team Manager this upcoming season. She is excited to continue learning and growing throughout her work at the ELC. Leeza brings a passion for writing and client service skills to the ELC. She also brings an international perspective to the ELC. Leeza was born in Russia but moved to the United States at a very young age. She recently visited family in Russia and learned about the cultural and economic differences that make Russia unique. Jeff is a junior Logistics Management major. Since coming to Shippensburg in the fall of 2010, Jeff has immersed himself in the community and culture of Shippensburg by joining several different types of service groups. He is currently serving his second term on the District Board for the Pennsylvania Circle K and next year will be the president of Ship Circle K. Along with his involvement in Circle K, Jeff also is part of SIFE, a group dedicated to serving the community though the power of business and will be serving as the Vice President for the group next year. Jeff has a passion for community involvement and has distinguished himself by planning group trips both within Pennsylvania and internationally. During the winter break, Jeff and a team of students went to Haiti to support community improvement efforts. Since joining the ELC, Jeff has been instrumental in planning engaging workshops and reaching out to university and community leaders who have shared their wisdom with students. Serving as a project manager, Jeff is very enthusiastic to be a part the ELC this semester.

ELC Coordinator Dr. Patrick Byrne, ELC Student Coordinator Leeza Zhmurkin, ELC Project Manager Jeff Herman

SIFE AND ALPHA KAPPA PSI OFFER OPPORTUNITIES FOR INVOLVEMENT

Students in Free Enterprise (SIFE) are international non-profit organizations that serve the community through the power of business. Ship SIFE is in its 8th year as a team and does not show any signs of slowing down. Every year the team focuses on improving old projects and starting new ones in hopes of allowing the team to continue its success. This year Ship SIFE added a project that had 5 members travel to Belize to work with mayor of neighboring Green Castle, PA. The mayor and his wife own and operate an orphanage for girls who have been abused in the past. The members took down crafts and used team-building exercises to help connect the girls with our members as well as each other. Along with projects, an important part of being part of a SIFE team is competition at the end of the year. Towards the end of the year, SIFE participates in regional competition where teams throughout the region present their projects and how they have impacted their campus, community, and the world. Shippensburg Universitys SIFE team in its 8 years as a team has only not made national competition once. Ship SIFE is currently preparing for competition April 4th in Baltimore. If you have any questions about our group, email Tracy Brenner, our secretary and president elect, for more details (tb9651@ship.edu). Alpha Kappa Psi is the co-ed professional business fraternity here on campus. Founded at New York University (one of the first schools of business) in 1904, Alpha Kappa Psi is focused on the principles of promoting institutions of business education, developing future leaders and fostering appreciation for higher ideals in business. Today the fraternity has grown to become the oldest and largest professional business fraternity in the world. The Xi Tau Chapter of Alpha Kappa Psi began in 1995 and has been thriving ever since. With a focus on educational programs, community service and a hands-on application of formal education, students gain skills that they would not otherwise learn in a classroom. Pairing these skills along with those skills taught in the classroom, members acquire life skills such as the art of compromise, consensus building, project management, interviewing and networking. The members of Alpha Kappa Psi share a solid bond. With a common mindset, these members not only see each other as friends for life, but also classmates and colleagues that they know they can always count on. As well as sharing a bond with each other, the members of the Xi Tau Chapter also share a bond with the faculty and staff of the Grove College of Business. We appreciate the knowledge and help that we have received from them, and are always happy to offer our assistance with any event or project. If interested in joining or working with Alpha Kappa Psi, please visit our website at webspace.ship.edu/akp or sending an email to xi.tau.president@gmail.com

HOW DO I EFFICIENTLY AFFORD COLLEGE AND AVOID DEBT?

By: Leeza ZhmurkinELC Student Coordinator On March 1st, the ELC held the next event in its Workshop Series in Grove College of Business. We were pleased to have James H. Heile from Members 1st and Dr. Sandy Tarbox from the Shippensburg financial aid office to give students insight on the best ways to plan for their futures financially. The workshop began with a brief overview and then continued with a question and answer session. About twenty-five students attended the workshop. The first set of information presented was that regarding financial aid. A majority of students have some form of financial aid throughout their college careers, and one of the first things that Sandy said was you are not alone everybody has anxieties about financial aid. She also said that there are two types of students those that are afraid of borrowing; this keeps them from utilizing their full college experience (ie. Study abroad), and those that borrow more than necessary. Many students see their refund check as extra money every semester. What they dont realize is that they will be paying off that money for years to come. One might consider doing work study and receiving a paycheck rather than a loan with a refund check. Sandy strongly suggested working on campus; she said that students who do so are more capable of integrating into the campus community. They create a network for resources, meet new people, and broaden their social skills overall. Students should also continue to look for scholarships even after their freshman year. Many students dont realize that there are still scholarships available for continuing students. Finally, the biggest point Sandy made was to cut expenses. This is the best thing students can do to keep themselves from worrying about having to pay for the big expenses. Students should step back and evaluate, Where is my money going? Which expenses are necessary? Is this expense a luxury or a necessity? When one sits down and begins to budget his or her money and track expenses, their eyes are opened to the amount of money that he or she is spending on necessary things. Jim shared a sobering statistic - the average person spends $940 on Starbucks Coffee per year. With each individual purchase, it doesnt seem like much, but the money does add up. James Heile who has been with Members 1st for 31 years, spoke to students about credit. He explained how when one payment on a credit card is missed, the interest rate skyrockets. Students should try to establish good credit by paying off their loans ahead of time. There are many repayment options available and the companies are willing to work with students. He also gave a breakdown of how students should budget their money. First, pay yourself (put some money away), then with the remainder, use 70% on expenses, 20% into savings, and invest the remaining 10% in yourself. Try to focus on how each decision affects you from a credit standpoint. Jim also told students to consider whether or not they could afford a credit card. If they could afford the minimum monthly payment on a card, he suggested getting one. If not, it is a risk that should not be taken by college students. Finally, the panel ended by telling students that education is not a solo enterprise; everyone is here to help the students succeed and they should always be using the resources available to them. Next in our Workshop Series is How to launch a career in the private sector? on Thursday, March 22nd at 3:30 in Room 404 John Grove Hall. Hope to see you there!

COB Logo Spring Social

The College of Business has reached three new milestones again this year and it has been designed into the new logo. The logo has been put onto 4 x 10 Banners which will be hung on the outside of Grove Hall for everyone to see. to be a grand event for the students, faculty, and staff to commemorate these milestones. We will be grilling hamburgers, hotdogs, having Goosebrothers Ice Cream, having a Dunk Tank and having the infamous kickball game between the faculty/staff A CoB Spring Social is and students. Please mark planned for Thursday, April your calendar now to come 26 @ 4:00 p.m. This is going to this great event!
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CHALLENGING ECONOMIC CURRENTS PROPEL SHIP TO NAVIGATE THE WATERS OF INNOVATION

By Dr. Patrick Byrne, ELC Coordinator In 1873, worldwide economic collapses lead to what was first known as the Great Depression. After the downturns lingering effects continued into the mid-1890s and became usurped by the 1930s Great Depression, the late 19th century economic stagnation became labeled the Long Depression. The 1930s Great Depressions incredible challenges still pervade modern policy debates about the current economic slowdown currently termed the Great Recession. Economic slowdowns that produce significant gains in the unemployment rate challenge families and are fertile ground for pessimism. Finding a silver lining can be hard. However, challenging economic times provide an ancillary opportunity for individuals or teams who are able to manage the risk inherently associated with beginning a new business venture or a company willing to use a slow business environment as an inflection point for restructuring. Great innovations and fervent entrepreneurial activity often stem from economic slowdowns. Following the Long Depression, the Industrial Revolution gained steam and propelled incredible economic growth and a pervasive globalization which was only stifled by World War I. Decades after the Great Depression, advances in production, communication, and technology, plus the recognition of how onerous war reparations hinder global growth, led to burgeoning free markets and the democratization of many nations previously stifled by authoritative rule. While Shippensburg University and other PASSHE schools dont face the painful change associated with whole sale political restructuring, finding hope in the myriad of changes needed to propel excellence with less revenue can be daunting. Our current economic slowdown has been painful but it comes during a time of rapid technological advances of sometimes bewildering magnitude. While historical comparisons do little to comfort displaced employees, or college graduates facing a discouraging job market, they do provide a potential consideration for those with the drive, skills, and knowledge to leverage their strengths and innovate rather than stagnate. Funding pressures, scare resources, and market changes culminate into a need for Shippensburg University to perhaps examine historical models that have met and overcome similar pressures and challenges. Because entrepreneurial organizations have survived and thrived throughout history, they may serve as a model to examine and possibly emulate. As Dr. Alison Morrison, from the University of Strathclyde wrote in 2001, It is proposed that entrepreneurs are travelers through time. Times may change, but the motivation, emotion, drive, purpose, and mania of entrepreneurs remain constant Often . the fruits of these entrepreneurial characteristics helped to reinvigorate and change existing paradigms among organizations or whole industries. Dr. Donald Kuratko from Indian University summarizes what many other entrepreneurial researches find when he describes the organic nature of change promoting innovation. He wrote in 2007 entrepreneurshipis an inte, gral part of the renewal process . Chancellor John Cavanaugh identified the potential opportunities inherent in our current economic environment, writing in a December 2011 open letter he noted, Colleges and universities across the country are responding to similar challenges by changing the way they do things, including how they teach, to better reflect current research-based understanding of how students learn and access information. The choices that lie ahead for us include taking the innovations that many of our faculty has developed and spreading them across our System. The ELC Entrepreneurial Leadership Centers mission is to support Chancellor Cavanaughs call for innovative incubation among faculty, community members, and, most importantly, our students. Our belief is entrepreneurial endeavors and leadership development serve as fertile ground for innovation and drives individual growth and personal fulfillment. Through experiential learning opportunities, collaborative endeavors, and openness to innovative ideals, the ELC hopes to support organizational growth and meet the needs of a highly technical, globalized economy. The emphasis on students not only aligns with Shippensburgs core mission but it also recognizes a global need succinctly stated by Katie Petersen of the Kauffman Foundation, Students today are becoming entrepreneurs by necessity. Because of this, access to new ideas and innovations is more important than ever. The Kauffman Foundation supports both the iBridge Network and iStart as a means of providing transparency and access to innovative ideas and business models that can be harvested to provide the entrepreneurial underpinning of the next new companies. To promote more experiential learning, the ELC has embarked on several initiatives. A precedent setting endeavor in September brought together a partnership among a private marketing company, art and computer science departments, and propelled Jessica Burns from Shippensburg senior to paid brand consultant. A video which captures Jessicas transformation and the overarching goals of the ELC can be found at: http://www.youtube. com/watch?v=rOVRI29Bnsg. The ELC has enlisted seven experienced innovators to come and share their wisdom through the ELC Speaker Series which has its culmination on March 20th with a special visit from the Kauffman Foundation. Workshops focused on intensive and practical experiences including needs assessments, marketing plan development, and interviewing skills are offered monthly. To encourage venture development, the ELC in conjunction with F&M Trust hosted a business plan pitch competition in February. Finalist efforts were recognized and rewarded with monetary prizes. Dr. Norris Kreuger who directs economic development efforts at Entrepreneurship Northwest and has developed numerous entrepreneurial programs for Boise State University and other nationally renowned organizations says, If Yeats was right and education is not about filling a pail but about lighting a fire then that has to be true for entrepreneurship even more. Meanwhile, arent we trying to move people from a more novice mindset toward the mindset of an expert? A great entrepreneurship program or course or center is all about nurturing that mindset while fanning the fire. Not easy to do; most underachieve. The crew at Shippensburg gets this. They understand that the only way to create the kind of deep cognitive change required to move toward being an expert entrepreneurial thinker is to focus on the mindset. And the best way to support that is to get deeply immersed in the entrepreneurial ecosystem. Not just engaged but immersed. New York Times best-selling author Sylvia Nasars book The Grand Pursuit: the Story of Economic Genius provides a rich historical narrative about similar efforts to revitalize economic growth during challenging times through wholesale paradigm shifting. Her quote from John Maynard Keynes captures our current challenge and subsequent efforts of the ELC, Keynes notes ...the political problem of mankind is how to combine three things: economic efficiency, social justice, and individual liberty. By focusing on leverag ing Shippensburg Universitys strengths of human capital among students, staff, and community members the ELC strives to not simply find a silver lining to the current economic malaise, but to create an optimistic gold core that propels student potential to future successes and ensures Shippensburg Universitys relevance in the 21st century globalized economy.

Shippensburg Senior and ELC Student Coordinator leads a needs analysis workshop.

Students collaboration to create viable business ventures is at the heart of ELC programming efforts.

JDK GROUP CEO SPEAKS AT THE ELC

By Leeza Zhmurkin, ELC Student Coordinator The Entrepreneurial Leadership Center began its second semester Speaker Series on a great foot. The first speaker to come in was Jen Delaye, owner and CEO of the JDK Group in Camp Hill, Pennsylvania. JDK group is the largest event service group in the central Pennsylvania region, and it achieved this title through the dedication and values of its owner and employees. The title of Ms. Delayes presentation was: Resetting the New Normal: How the Recession Saved My Business. She gave a variety of very interesting points; one of these was the fact that throughout all the ups and downs that her business experienced, Jen stressed the fact that her values were never compromised. These values are as follows: Constant Innovation, Flawless Execution, Unparalleled Customer Service, and Talented Employees. Ms. Delaye also made the point that you must live your element. This is a combination of ones natural talent and his or her passion. When those two are combined, an employee can perform to their full potential, as well as love what they do. With the goal of being the biggest and the best, and these values and ideas to drive the business, JDK Group was off to a great start. However, like any other business, the company did face some hardships along the way. Ms. Delaye realized that she was spending more time on losing money than she was on making money. This realization, although startling, gave Ms. Delaye the motivation that she needed to restructure her company. She noticed that times were changing and people were being driven to make purchases based on core values rather than what looked, sounded, or cost the most appealing at the moment. This was one of the huge lessons that Jen had learned: embrace change. Once she had done so, she was able to begin saving her company. When beginning the restructure of her company, Jen Delaye also began to rethink what services her company had been offering. For the longest time, JDK was only known for one thing: catering. Jen then realized that they could do more than just provide food. They began to provide linens for events, rent out spaces, and even plan weddings. In embracing the idea of hyper focus, the JDK Company went from being JDK Catering to JDK Group. The company was able to hit a completely new set of markets and please more customers, all without ever forgetting their core values.
Sarah Ripperger, JDK CEO Jenn Delaye Leeza Zhmurkin

PITCH COMPETITION A SUCCESS THANKS TO AN INCREDIBLE NETWORK OF SUPPORT!!!

The ELCs inaugural Pitch Competition was a collaborative success. Partnering with F&M Trust, the ELC gave high school and college students an opportunity to develop their entrepreneurial goals and business skills. Students were given the chance to submit their business proposals or ideas, and the judges selected those students whose ideas seemed the most plausible. Five out of the six proposals made it to the first round. The first round, held on February 2nd, consisted of five venture ideas. The venture leaders had many different ideas and each came prepared with a presentation and supporting information. The ELC was happy to have the support of four seasoned business professionals to judge during the first round: Rache Baird from Tilt.inc, Brooke Rhodes from ReMax, Malcom Furman, MBA, and Stephanie Burns from Chic Ceo. Each venture leader was asked one major question: How will I prioritize and spend the pitch competition prize money to accomplish plans in the following domains? The domains were as follows: Effectual Entrepreneurship, Innovatus (continuous improvement), and Transformational Leadership. Venture leaders were told ahead of time that depending on where they placed, they would receive a certain amount of money towards their entrepreneurial goal. First place was to receive 500 dollars, second would receive 350, and third would receive 200. Three leaders went on to the final money round on February 9th. Five judges determined their progress from the first round, particularly looking for clear improvement in each domain based on first round feedback and support from three groups: Underdog Social Ministries, Chic CEO, and VC Mentor . The winners were: 1st Place: Will Tolleson - The Caf in Chambersburg, 2nd Place: Adam Rachko, Tyler Schmitt, and Doug Baker -Recruitment.com, 3rd Place: Tyler Harris Fortunate Lifestyle The ELC appreciates all the feedback that we have received and cant wait to start planning for our competition next year! Thank you to all who participated and congratulations to our winners!

It is great that you have offered the high school students this opportunity. I would like to get more kids motivated to pursue opportunities in entrepreneurship. -Joe Wagner, Business Education Teacher at Carlisle High School

I left round one inspired even though I didnt make it to the finals. The insight into transformational leadership is worth more than a few dollars. I thank you for the experience I have taken a few next steps in my plan - Austin Silla, Round One Contestant This is really great feedback from the judges-- not just for the competition itself, but as a model for me and others when we find ourselves in similar situations that call for evaluation and reflection. Objectively, I think it strikes a good balance between being informative, helpful, concise, practical, and personal. -Kase, VC Mentor

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