Monday, November 29, 2010

Community-Building: A Growth Industry

On the eve of Black Friday, I found myself reflecting on what a pure holiday Thanksgiving is. The only expectations are food and family – no gifts, no jingles, no tensions between the secular and holy. It is a simple time of thankfulness.

Perhaps I will eat my words as an executive one day, but I find it unfortunate that Black Friday and its inauguration of ‘consumerism season’ continue to eat away at the quaint holiday of Thanksgiving. Thanksgiving should not just be the calm before the storm. Those 90 minutes around the dinner table should always trump the 4am deal for a $298 40-inch flat-screen LED Toshiba.

But we live in the age of the deal. We sit around our computers for hours just waiting for the eBay auction to finish or for the next Groupon. But what are we missing? I’m all for thrift, but isn’t our family time worth something as well?

According to the Consumer Electronics Association, it seems that the merriness of Christmas is not quite dead either, as the thing most adults still wish for during the holidays is happiness or peace. I was surprised. I was less surprised when laptops and iPads were close runners-up, but it reminded me that people still desire to know and be known by others. The eggnog with brothers may in fact be worth far more than the stereo system after all.

However, a corporation can only sell the eggnog; the brothers and sisters are not included. Nonetheless, it raises a very interesting proposition: how can corporations create goods that facilitate community? Most commercials over the next month will include either a kissing couple or a family opening presents Christmas morning, so community obviously sells widgets. But how are corporations not just marketing their goods via emotional persuasion, but also producing goods that bring friends and family together?

The food and drink industry easily has the largest market share when it comes to “community-building,” but social networking may not be far behind. As technology evolves and transportation becomes cheaper, the business of “community-building” will continue to grow. One can quickly find cross-industry success stories in this space: Chick-Fil-A, Southwest Airlines, Mattel, and Disney are just a few that come to mind as companies producing goods that facilitate community interactions alongside billions of dollars in revenue.

Hosts of people have retreated to technological innovations such as Facebook and Twitter to recreate the lost sense of kinship, but more creativity is needed to capture this market for “community.” However, anyone who thinks it will be an easy market to enter should be forewarned. After all, you are competing with turkey and eggnog.

Happy Thanksgiving!

Monday, November 15, 2010

Net Impact Conference Recap

Nearly a year to the day after I first visited North Grounds as a prospective student, I found myself en route to the 18th Annual Net Impact Conference in Ann Arbor, Michigan, with a group of twenty-four of my new Darden friends and classmates.

Net Impact is an organization with chapters around the world seeking, “to inspire, educate, and equip individuals to use the power of business to create a more socially and environmentally sustainable world.” It is precisely that vision and my own desire to make a global impact in my career that led me to business school.

Amidst the frenzy of our first hundred cases, however, it became easy to focus only on t-accounts that didn’t balance, on models that didn’t actually forecast, and on club meetings offering pizza before learning team. The conference encouraged me to stop and reflect on the bigger picture.

Net Impact reminded me of the transformative power of ideas. Corporations are tackling issues of environmental sustainability and corporate responsibility with new and creative initiatives. Nonprofits are collaborating in unprecedented ways. Entrepreneurs are developing innovative plans to address market needs while also serving the community. I was excited to see that there are opportunities for all of us to engage in each of these sectors.

The conference created an important forum of exchange for the growing number of students and professionals committed to these ideas. We spent the weekend with 2,500 attendees, including MBA students, founders of non-profits, corporate executives, leading scholars and accomplished entrepreneurs. Whether discussing a business plan at breakfast or corporate social responsibility over dinner, it was inspiring to delve into conversations with so many diverse individuals. I returned to Charlottesville feeling recharged.

Maybe most importantly, the weekend showed me the strength of the vibrant Net Impact community right here at Darden. We sent our largest delegation yet to a Net Impact conference with the support of the Business Roundtable Institute for Corporate Ethics and the Olsson Center. It was an important opportunity not only to build our network beyond Darden but also to interact with each other outside the classroom. We have a committed and engaged group in Net Impact, and I look forward to sharing the next 18 months with them.

Back on Grounds, Term 3 is now in full swing with bond pricing and storyboard building. I am hoping that these are the skills and experiences I will need to create the more socially and sustainable world that Net Impact envisions.

Sunday, November 14, 2010

Welcome to Our New Blog!

Net Impact is a national organization with a mission to “inspire, educate, and equip individuals to use the power of business to create a more socially and environmentally sustainable world.” Here at Darden, our Net Impact Chapter has focused its initiatives around engaging the student body on social initiatives and providing new paradigms to look at business opportunities and challenges.  We have focused our current efforts to align with student interests around the areas of:
  • Social Entrepreneurship
  • Socially Responsible Investing
  • Corporate Social Responsibility
  • Environment & Green Business
  • Microfinance
  • International & Community Development
  • Non-Profit Management & Foundations
We are excited to introduce this blog as a way of communicating our thoughts and ideas with the Darden student body, Net Impacters at other schools, and greater community members who share the passion and vision to strive for a more socially and environmentally sustainable world.