The George Washington University

School of Business: GWSB News

November 7, 2008

GW School of Business Makes Game Day Greener with “Green Sports Score Card”

Photo Courtesy of: Jessica McConnell

The GW School of Business’ Institute for Corporate Responsibility and Sport Management program have launched a “Green Sports Score Card” research initiative that will help sports organizations assess their environmental friendliness.

The Green Sports Score Card is an assessment tool that sports teams and other organizations, from youth to professional levels, may use to determine their “green score” and compare how they rank among peers. The GW Institute for Corporate Responsibility Sports Green Team, composed of students, faculty, and staff, will provide organizations with reports that suggest ways to reduce their environmental impact — ranging from immediate, no-cost ideas to long-range, budgeted items. The initial assessment will focus on a team’s front office, facilities, concessions, travel, equipment, policies, and event-management practices.

“This is a great opportunity to involve GW School of Business faculty and students in a research initiative vital to the sports industry,” said Lisa Delpy Neirotti, GW associate professor of sport management and leader of the Green Sports Score Card initiative. “As most teams and sports organizations are just now forming committees to tackle this issue, the GW Institute for Corporate Responsibility will lead the way in providing advice and assistance in finding the best practices.” Neirotti was inspired to promote the greening of sports in the United States after attending the 2007 International Olympic Committees Sports and Environment Conference in Beijing.

The GW athletics department and the Maryland SoccerPlex are currently testing the Green Sports Score Card on a pilot basis. Representatives from the following events and organizations have already committed to participate: the Eaglebank Bowl, the first NCAA-sanctioned, post-season bowl game played in Washington, D.C.; NCAA Men’s Frozen Four, the official college hockey championship; the SunTrust National Marathon; Washington Wizards; and the Capitol Hill Volleyball Tournament.

GW’s Green Sports Score Card initiative is a joint venture between the School of Business’ sport management program and the Institute for Corporate Responsibility’s environmental sustainability program. The institute also will serve as a resource for teams and sports organizations to research green best practices world-wide.

“Various environmental measurement tools have been developed for fields such as higher education, businesses, and individual households,” said Mark Starik, GW professor of strategic management and public policy and director of the Institute for Corporate Responsibility’s environmental sustainability program. “A ‘Green Sports Score Card’ is a natural and smart progression. It will offer not only a baseline, but an additional incentive, for teams and sports organizations to take this issue seriously. It will help them act now to reduce their impact on the environment.”

Hundreds Attend GW School of Business Panel Discussion on Financial Crisis: Experts Predict Recession Will Last Until 2010

(from left to right) Susan M. Phillips, John Glascock, Stijn Claessens, and W. Russell Ramsey

Predicting the inevitability of a recession stretching into 2010, a panel of experts assembled at GW cautioned against a move toward over-regulation of markets and called for increased transparency and the reduction of excess leverage in the markets. The group of business and academic leaders participated in a panel presentation convened on Oct. 27 by GW School of Business’ Center for International Business Education and Research (CIBER). A video recording of “Demystifying the Implications of the Financial Crisis on the World Economy,” may be viewed at

A veritable “Global Financial Crisis 101,” the panel answered questions for managers, investors, and policy makers, presenting a detailed analysis of the roots of the crisis, explaining its reverberations in economies around the globe, offering solutions, pointing to reasons for optimism, and appealing for calm.

The panelists included: Susan M. Phillips, GW School of Business dean and professor of finance and former governor of the Federal Reserve System; W. Russell Ramsey, BBA, ’81, chairman and CEO, Ramsey Asset Management, and chairman of the GW Board of Trustees; John Glascock, West Shell Professor of Real Estate Finance, University of Cincinnati, and former GW professor of real estate finance; and Stijn Claessens, assistant director of research department, International Monetary Fund. The panel was moderated by Robert Weiner, GWSB professor of international business, public policy and public administration, and international affairs.

Explaining how an overconfident economic outlook created a fertile environment for the crisis, Phillips cited the increased financial strength throughout the 1990s, and the successful navigation of previous crises such as Y2K and 9/11. She also pointed to the “easy money” that emerged as interest rates began to drop in 2001, and recalled concerns of deflation as recently as five years ago.

Glascock discussed financial mechanisms that he said were overused by highly leveraged institutions, including the use of short-term debt to finance the purchase of mortgage debt. He said the subprime-mortgage market triggered the crisis, while many special- purpose vehicles and organizations were created to fulfill specific or temporary objectives and isolate financial risk, were kept off the books. With institutions leveraged 300 to 1, he explained how a hiccup in the economy forced lenders to review balance sheets and curtail lending.

Speaking from a global, historical, perspective, Claessens predicted that while we have weathered 124 crises since the 1970s, this systemic financial crisis will be longer and deeper. Noting that a speedy response is critical, he observed that inaction on the initial subprime crisis caused it to develop into a much larger problem. He advised that leaders plan for uncertainty and develop contingency plans.

Ramsey explained that nothing in the market has really changed, that owners of assets simply “got a big global margin call.” He pointed to over-leveraging in the market as the greatest culprit in its rapid decline. “A healthy market is based on good information and confidence,” said Ramsey, explaining the markets’ speedy and shocking declines since Sept. 6.

“We must recognize that this is a diverse country. It will be very messy. Different areas of the country will recover at different rates,” said Phillips. She called for “not too much, or too little, regulation, but the right regulation.”

GWSB to Host “Peace Through Commerce” Conference

Join leaders from major corporations, government, academia, and non-governmental organizations for a three-day “Peace Through Commerce” conference where they will discuss “Combating Terrorism: A Socio-Economic Strategy,” “Economics in Peacemaking: Lessons from Northern Ireland,” and “The Global Peace Index,” among other topics.



WHEN: Thursday - Saturday, Nov. 13 - 15, 2008

WHERE: The George Washington University
Cloyd Heck Marvin Center
Cafritz Conference Center, Suite 204
800 21st St., NW, Washington, D.C.

COST: Three-day, single-day, and student discount registration and conference schedule can be found at:

- Louis D’Amore, president, International Institute for Peace Through Tourism
- Roger Dow, president, Travel Industry Association of America
- Timothy Fort, executive director, Institute for Corporate Responsibility, GW
- Ritu Sharma Fox, founder, Women Thrive Worldwide
- Ambassador Shirin Tahir-Kheli, senior advisor for women’s empowerment, U.S. Department of State
- Steve Killelea, founder, Global Peace Index
- Walter Robb, president and chief operating officer, Whole Foods Market
- Michael Strong, chief visionary officer, FLOW
- John Sullivan, executive director, Center for International Private Enterprise
- Carolyn Woo, dean, Notre Dame University School of Business

Per capita gross domestic product correlates strongly with peacefulness, and peace can be correlated with a company’s international business activities, according to the Global Peace Index (GPI). For every 10 places along the GPI, per capita income increases by approximately US$3,000, and retail expenditure increases in line with per capita income. The economic benefits of peace are real and measurable. It may be possible to transform the world through business-led initiatives.

The “Peace Through Commerce” conference is sponsored by The George Washington University Institute for Corporate Responsibility, FLOW, Global Peace Index, International Institute of Peace Through Tourism, the U.S. Institute of Peace, Business Roundtable Institute for Corporate Ethics, AACSB, and APCO Worldwide.

HBO Executive Will Visit School of Business

Bob Zitter, Home Box Office (HBO) executive vice president, technology operations and chief technology officer, will speak to students and members of the GWSB community. He will provide an insiders view of the cable industry. Zitter is responsible for HBO’s technology interests worldwide, overseeing distribution, origination, and production operations and engineering. He also oversees HBO’s new technology planning.


WHEN: Thursday, Nov. 20, 2008
5:30 p.m. —7:00 p.m.

WHERE: The George Washington University
Jack Morton Auditorium
Media and Public Affairs Building
805 21st St., NW, Washington, D.C.

COST: Free and open to the GWSB community.

RSVP: Contact Kathleen Rogan at 202-994-9130 or

Argentine Political, Business, and Academic Leaders Visit GWSB

(from left to right) Buenos Aires Senator Marta Helena Helguero, Michele Manatt, GWSB CLAI Director Jim Ferrer, and Ambassador Otto Reich. Manatt and Reich worked as advisers to the Obama and McCain campaigns, respectively.

The School of Business’ Center for Latin American Issues (CLAI) hosted a diverse delegation of 22 Argentine leaders in collaboration with Universidad de Ciencias Empresariales y Sociales (UCES), a business school in Buenos Aires, Argentina, October 22-24. The group came to Washington to gain first-hand knowledge about important developments taking place on the regional and international scene, including the U.S. presidential elections and the financial crisis and its aftermath.

In addition to seminars with GWSB faculty on the U.S. electoral process and the federal response to the financial crisis, CLAI organized meetings for the group with senior officials from the State Department, Department of Defense, the World Bank, and the Organization of American States. Additionally, the group participated in a roundtable discussion with political advisors to the Obama and McCain presidential campaigns. CLAI plans additional programs with UCES, including student visits.

GWSB and RAFFA, P.C. - Working Together on Supply and Demand in the Washington Job Market

GWSB provides a world-class education and prepares its students to compete – and succeed – in the increasingly demanding, modern business environment. The School’s Washington, D.C. location is the salient feature of the GWSB experience, giving students access to a plethora of employment opportunities in business, government, and public policy. GWSB graduates are very much in demand in the D.C. job market – nowhere more so than at RAFFA, P.C., a Washington-based consulting firm that specializes in serving the nonprofit sector.

The GWSB-RAFFA relationship is a shared success story. RAFFA offers graduates an outstanding opportunity to work for a great firm in D.C. (RAFFA earned an honorable mention in Washingtonian magazine’s “Great Places to Work” survey); and GWSB alumni have proven to be a particularly “good fit” for RAFFA. “The George Washington School of Business is the focus of a relatively large part of our recruiting effort,” said Michael Caggiano, RAFFA’s chief operating officer. “GWSB graduates account for about 50% of our new hires each year.”

RAFFA provides a broad range of training and services for its clients. Founded in 1984, RAFFA evolved from an accounting firm into a full-service “strength trainer” and “solution provider” for the nonprofit community. Its clients include the Society for Human Resources Management, Brookings Institute, Freedom Forum, Washington National Cathedral, the National Geographic Society, the Washington Performing Arts Society, and the White House Historical Association. The firm has approximately 200 employees. Check out their website at:

“RAFFA is a close partner that supports our students’ career development efforts in very concrete ways,” Gil Yancey, executive director of the F. David Fowler Career Center, said. “They conduct company information sessions to educate students about relevant career opportunities; spend quality one-on-one time with students at Beta Alpha Psi’s ‘Meet the Firms’ night; participate in several School career fairs; and actively hire students as interns and regular employees. This is the type of partnership that we highly value, where employers are engaged with our students beyond traditional, on-campus-recruiting.”

The GW School of Business Named one of Princeton Review’s “Best 296 Business Schools”

GWSB has been named among the 2009 Princeton Review’s annual “Best 296 Business Schools,” for the fifth consecutive year. Students at the School ranked their academic experience at 91 percent. The school also was ranked No. 6 in the “Best Opportunities for Women” category.

“We are proud that at the end of their experience, our students ranked their overall academic experience at GW so highly,” said Susan M. Phillips, dean and professor of finance. “That is a strong testament to our whole team’s dedication to our students.”

In an accompanying survey, the students also ranked professor accessibility highly – at 95 percent. One student wrote, “The small size of the program results in individual attention from the faculty and administration.” The survey list also included first-rate preparation in teamwork, extensive guidance in conducting business in a global economy, and inclusion in a stellar peer network.

The Princeton Review compiled the lists based on its surveys of approximately 19,000 students at 296 business schools listed in the publication. The student surveys were conducted during the 2007-08, 2006-07, and 2005-06 academic years, and were primarily completed online.

Hotel Executive Serves as GWSB Guest Lecturer

Alison Rubin, BF Saul Hotels vice president of sales and marketing served as a guest lecturer on October 13. She shared her hotel sales / marketing experiences and insights with GWSB tourism and hospitality management students.

Getting to Know: Erica Prakop

Title: Senior Secretary, Office of the Dean.

Job Duties: I perform the job duties of maintaining a normal business office environment...with an occasional pumpkin decorating assignment.

Years at GW: Almost four weeks!

Best part of working for the GWSB: Being part of a motivated and accomplished community.

Favorite place on campus: The intersection of 23rd and Virginia Avenue, with its views of the Lincoln Memorial and the Washington Monument.

What co-workers don’t know about me: My Nigerienne name is Erzaganat; some of my friends call me Zags.

Family: My parents and two younger sisters live in Massachusetts.

Favorite things to do on the weekends: Walk, explore, and museum hop.

Favorite Vacation Spot: Anywhere with sunshine and a hammock!

Favorite Book: “No Shortcuts to the Top” by Ed Viesturs.


Douglas C. Frechtling, professor of tourism studies, presented, “Minding the Roots: Incorporating Values-based Learning in Distance Tourism and Hospitality Masters Curricula,” at the annual conference of the International Association of Travel and Tourism Educators in Dublin, Ireland, Sept. 30—Oct. 2. The paper was co-authored by Polly Rodriguez. Frechtling, also presented, “Measurement and Analysis of Tourism Economic Contributions for Sub-national Regions through the Tourism Satellite Account,” at the United Nations World Tourism Organization International Conference on Tourism in Malaga, Spain, on Oct. 30.

Miguel Lejeune, assistant professor of decision sciences, presented, “Probabilistic Portfolio Optimization Under Skewness Conditions,” at the INFORMS conference in Washington, D.C., last month.

Lisa Delpy Neirotti, associate professor of tourism and sport management, organized and participated in the “Greening Sports” panel at the TEAMS 2009 (Travel, Events, and Management in Sports) conference in Pittsburgh, Pa., Oct 21-25.

Tjai M. Nielsen, assistant professor of management, presented, “Seeing Through Rose-Colored Glasses? Exploring the Role of Extraversion and Agreeableness in Follower Perceptions of Transformational Leadership,” at the 68th annual meeting of the Academy of Management. The paper was co-authored with George Hrivnak, GWSB management doctoral student.


Miguel Lejeune, assistant professor of decision sciences, published, “Preprocessing Techniques and Column Generation Algorithms for Stochastically Efficient Demand Trajectories,” in the Journal of the Operational Research Society, vol. 59, pp. 1239-1252, 2008; “Showcase Scheduling at Fred Astaire East Side Dance Studio,” in Interfaces, vol. 38 (3), pp. 176-186, 2008, the paper was co-authored with Nevena Yakova.

Tjai M. Nielsen, assistant professor of management, published, “The ASA Framework: A Field Study of Group Personality Composition and Group Performance in Military Action Teams,” in Small Group Research. This paper was co-authored with Terry Halfhill from Pennsylvania State University.

Getting Ink

Susan M. Phillips, dean and professor of finance, was interviewed by Radio Australia . The program was about the Federal Reserve cutting interest rates for a second time in October. “Clearly these are very unusual times and I don’t think that the Fed cut will make as much difference as you would normally expect. In some sense it will bring it into alignment with market expectations, but it will still make some difference,” commented Phillips. The GW Hatchet also quoted Phillips in the article, “BoT chairman, experts weigh in on global financial crisis.”During a panel discussion hosted by GWSB Dr. Phillips was asked about the impact the economy is having on admissions. “Our flow of applications for admissions and enrollment is still strong,” Phillips said.

Susan Aaronson, adjunct professor of strategic management and public policy, published the op-ed, “Financial Crisis Hurts U.S. Soft Power,” in Policy Innovations. (10/29)

Murat Tarimcilar, associate dean for graduate programs was quoted in the Washingtonian magazine article, “Surprise! Lobbyists and Lawyers Will Be Winners.” The story was about winners and losers of the financial bailout. “Murat Tarimcilar, associate dean for graduate programs at George Washington University, says his school’s career center is urging MBA students with a focus on finance to select a backup field. Because the school’s curriculum emphasizes globalization, he’s encouraging students to consider financial jobs in Mumbai or Tokyo while they wait for the U.S. job market to make a comeback.” (10/28)

Catherine Lee and Karan Rajput, GWSB MBA students, were interviewed by Fox Business News reporter Adam Shapiro during the network’s “Money Matters,” segment. Lee asked a panel of financial experts about their predictions for the market by the time she graduates. “Because I’m graduating in May 2010, I want to know what you think is going to happen to the market by 2010,” asked Lee. The students were visiting New York investment firms, non-profit organizations, and media companies as part of the School’s New York Career Trek. (10/24)

“Demystifying the Global Financial Crisis: Implications for the World Economy,” was attended by the following media: China Central Television America, the GW Hatchet, and Urban Revival Media. (10/27)


Lisa Delpy Neirotti, associate professor of tourism and sport management, was recognized for her service to the sport tourism industry by SportsTravel Magazine.


ICSB Economics Policy Forum Aimed to Improve Small Businesses Worldwide
The 2008 Policy Forum addressed policy issues and questions related to stimulating a more conducive environment for entrepreneurship SME (small and medium sized enterprise) development to contribute to economic growth. Speakers included government policymakers, policy oriented researchers and business association representatives from Europe, the U.S., New Zealand, and Canada (click here to learn more)

ICSB Features Blog Series on “Surviving the Economic Crisis”
ICSB Executive Director Dr. Ayman El Tarabishy shares his perspective on what happens with small businesses in the U.S. and around the world. The blog outlines a basic strategy for surviving the economic crisis through communication technology and external communication via the Internet. “Surviving the Economic Crisis” was featured on the Dell, Inc. web site (click here to learn more)

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