May, 2021 | Mays Impacts

Business Honors Students utilize Mays Transformational Leadership Mindsets in High-Impact Learning event

Mays Business School students Mia Barone ’21, Steven Gooch ’22 and Laura Key ’22 won top divisional honors at the Loyola Marymount University’s International Business Ethics and Sustainability Case Competition. This high-impact learning event, which was held virtually April 8-9, challenged participants to create a solution based on one of the United Nations’ Sustainable Development Goals. The Aggie team proposed that Amazon could protect the ocean’s viability by changing its maritime shipping approach.

Case competitions offer an opportunity for Mays students to further develop their transformational leadership mindset. “Participating in an international case study provides Mays students an opportunity to exhibit the culmination of business competency and experience gained in the classroom and through high-impact activities on a global scale,” said Katy Lane ’02, the director of Mays’ Center for International Business Studies, which sponsored the team in the case competition. “Working as a cohesive team to analyze and clearly communicate their solution is essential to succeeding in the high-pressure environment. In many cases, judges are from companies or organizations seeking to implement the winning solutions to make a positive social impact.  These teams clearly display the Mays Transformational Leadership mindset in action.”

Changing Course

Advised by Dr. Daria Panina of Mays Department of Management, the student team focused on the UN goal of conserving and sustainably using the oceans, sea, and marine resources for sustainable development. Their full presentation had to address the legal, financial, and ethical dimensions, and their recommendation had to be a solution that was viable on all counts. As part of this session, the Aggies, who are part of Mays Business Honors program, were questioned by a panel of judges who have executive experience in corporate ethics, compliance, corporate social responsibility, executive leadership, and sustainability. This panel did not include representatives from Amazon, which was the focus of the Mays’ team’s case.

The Aggies recommended integrating the practice of slow steaming into Amazon’s maritime cargo operations. “Right now, there’s a lot of sustainability work being done on the company’s consumer-facing, warehouse-to-door operations–electric delivery vehicles, sustainable mailers, shipment zero goal, etc.–but no responsibility is being taken for the impact of Amazon’s inbound logistics process through their shipping subsidiary,” said Barone, who is majoring in marketing and analytics.

The team’s presentation pointed out that a large proportion of the merchant fleet relies on bunker fuel, which contains a high amount of sulfur. The fleet’s fuel combustion releases large amounts of sulfur and nitrogen oxides, which acidify the marine environment and contribute to reduced calcification, erosion of coral reefs, and adverse effects on human health, especially in coastal communities. One cargo ship creates the same amount of pollution as 50 million cars[1].

Amazon ships approximately 3.2 million inbound shipping containers per year to warehouses globally; these containers hold $127.6 billion in products. The Mays team recommended that these ships adopt slow steaming. This approach, which reduces the ship’s speed from 20-24 knots to 12-19 knots, reduces the use of fuel and the resultant cargo emissions.

Wide Sustainability Implications

The Aggies also pointed out that slower travel does not result in lower profits. They cited University of Hamburg researchers, who found that profits for many container vessels decline when speeds surpass 20 knots.

The Mays team also believed that their proposal was feasible and environmentally beneficial. “Ultimately, the solution that we proposed is one that is easy to implement within a couple of months,” said Key, who is majoring in supply chain management. “It’s not a large-scale transformation. As they push forward with net-zero goals, making this small change can be very beneficial to the environment long-term. Using slow-steaming and slowing boats down reduces overall fuel consumption.”

The team advocated for more frequent, small shipments of each product to warehouses. Through using freight forwarding, Amazon would be able to combine small batches of multiple SKUs in containers, which would eliminate the need for holding additional safety stocks.

The Aggies believe these recommendations could have wider sustainability implications. “Amazon is a key player in the global shipping industry. Because of the economy of scale, they have the opportunity to set the standard for the industry,” said Gooch, who is majoring in marketing and analytics. “Adopting this practice would make it more acceptable for others to take on some more sustainable practices. Overall, this would have a greater impact on preserving our oceans and supporting those people in the coastal communities who depend on those resources.”

View the student’s winning presentation:

2021 Mays Business School IBESCC Presentation

Categories: Business Honors, Center for Business International Studies, Mays Business, News, Programs, Students, Texas A&M

By Stephanie Burns, McFerrin Center for Entrepreneurship in Mays Business School at Texas A&M University

COLLEGE STATION, May. 5, 2021 –

$13,000 awarded to High School Entrepreneurs.

On Friday, April 30, 2021 the McFerrin Center for Entrepreneurship hosted the 2021 Texas High School Ideas Challenge. The inaugural competition invited 30 finalist teams to participate in the first-ever state-wide entrepreneurship competition for High School students. Each team competed in 2 rounds of intensive pitching that included a 5-minute, AV free presentation and a 5-minute Q&A with multiple panels of judges. Throughout the day, judges regularly commented on the high quality of each idea pitched and, on the maturity and professionalism of each young entrepreneur.

Blake Petty ’98, Executive Director of the McFerrin Center for Entrepreneurship had the following to say about the competition “What a tremendous day full of exceptional ideas from some truly outstanding young entrepreneurs. As we began to build this inaugural Texas High School Ideas Challenge, we had hoped to see perhaps 25 high schools engage their students to compete. We were elated that over 40 schools from every corner of the state participated, and that the 167 high school competitors showed such incredible talent, creativity, and professionalism at such a young age! Our volunteer judges were immensely impressed with the young innovators who competed this year, and now we all cannot wait to see what ideas emerge in 2022.”

Notable Winners

Vista Ridge High School in Cedar Park and Boerne Champion High School in Boerne made an impressive showing. Multiple students from each High School took home an award at this year’s competition. Students from 2 separate High Schools in Frisco also took home prizes. In addition, a local College Station student also took home a prize, illustrating the entrepreneurial prowess of students in Aggieland.

Although public viewing of the competition was not available, the winners of the day long competition were announced via live stream on Facebook. Those interested in viewing the Awards Presentation can do so at tx.ag/TXHSIdeasAwardsCeremony.

Listing of Winners.

The winning teams and their respective High Schools and cities are included below.

  • $750 Honorable Mention Prize: Farmer Adam – A&M Consolidated, College Station
  • $750 Honorable Mention Prize: CollegeHype – Clint ISD Early College Academy, Clint
  • $750 Honorable Mention Prize: Allowance – Vista Ridge High School, Cedar Park
  • $750 Honorable Mention Prize: Student Power – The Village School, Houston
  • $1,000 Sixth Place Winner: SOle Cold – Boerne Champion High School, Boerne
  • $1,250 Fifth Place Winner: Environmate – Centennial High School, Frisco
  • $1,500 Fourth Place Winner: DropaBall – Boerne Champion High School, Boerne
  • $1,750 Third Place Winner: PRACTICE PALS – Klein Cain High School, Klein
  • $2,000 Second Place Winner: S.A.P.P.E. by MC – Frisco High School, Frisco
  • $2,500 First Place Winner: WalkThru – Vista Ridge High School, Cedar Park

About Texas High School Ideas Challenge

The Texas High School Ideas Challenge motivates high school students to explore entrepreneurship and discover the benefit of an entrepreneurial mindset. There is no business plan or product development required for the Texas High School Ideas Challenge. Students must prepare and submit a compelling application that illustrated the creative, careful, and methodical planning that has gone into their idea.

About McFerrin Center for Entrepreneurship

The McFerrin Center for Entrepreneurship provides experiential programs, events, and education for entrepreneurs at Texas A&M University and across the state of opportunities for entrepreneurial students at Texas A&M University. We are committed to the success of entrepreneurs and believe that they are the cornerstone of a robust economy and nation.

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Media contact: Stephanie Burns, Communications Coordinator, McFerrin Center for Entrepreneurship, (979) 458-8631, s.burns@tamu.edu.

Categories: Uncategorized

Established in 1983, the Center for Retailing Studies at Mays Business School has developed future retail leaders to advance the world’s prosperity.

 

Texas A&M’s Center for Retailing Studies (CRS) launched a fundraising campaign today titled, “Supporting the Future of Retail,” to engage strategic partners from across the retailing community in support of the Center’s critical mission of Inspiring the Future of Retail. From its founding in 1983 as the first university center of excellence in retail through today, the mission of the Center remains focused on developing retail leaders and business knowledge for tomorrow.

The COVID-19 pandemic has accelerated change in the retail industry, including the growth of eCommerce, the integration of digital and physical retail operating models, and opportunities to engage the industry in a dialog about the talent needs of retailers and consumer brands for a more integrated and omnichannel approach to the business moving forward. The campaign will feature a breadth of content developed to educate, engage, and energize the retail industry. The desired outcome of the campaign includes to bringing more organizations along with the mission of the Center by investing time, talent, and financial support critical to student success and developing future leaders of the retail industry.

Join CRS in your preferred channel to gain a well-rounded view of opportunities from now through the end of July 2021:

Highlights of partnership with CRS include:

  • Access to talent and future organization leaders from a recognized and valued business school
  • Access to research faculty and the ability to collaborate on relevant retail research that advances knowledge of a rapidly evolving business and consumer from a recognized and acclaimed Tier One research institution
  • Engagement in industry networking and thought leadership, providing access to the collective wisdom of leaders from across the retail ecosystem as well as the brand recognition
  • Influence on the future of retailing education, by playing a role in identifying the skills needed for future leaders of their organization, the industry at large, and investing in capabilities they view as critical to their future success.
  • Industry updates on recovery from the pandemic, and the impact of retail on serving the American consumer early into, during, and after the crisis

For information on becoming a corporate partner of the Center for Retailing Studies or to request a sponsorship proposal, please contact Lauren Osborne at 979.845.0325 or email losborne@mays.tamu.edu. We gratefully acknowledge and thank our current partner companies for investing in retailing education at Texas A&M University.

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About the Texas A&M Center for Retailing Studies (CRS)

Since opening in 1983, the Center for Retailing Studies has been respected throughout the world as a leading source of industry knowledge and a pipeline for developing future retail leaders.

In collaboration with the outstanding performance of the faculty at Mays Business School and excellence in student education programs, each year, more than 150 students complete coursework, internships, and leadership programs that prepare them for professional careers within the industry in store management, buying, merchandising, planning, business analytics, and supply chain.

Explore more on CRS: https://mays.tamu.edu/center-for-retailing-studies/

 

About Mays Business School

At Mays Business School, our vision is to advance the world’s prosperity. Our mission is to be a vibrant learning organization that creates impactful knowledge and develops transformational leaders. Mays Business School educates more than 6,400 undergraduate, masters, and doctoral students in accounting, finance, management, management information systems, marketing, and supply chain management. Mays consistently ranks among the top public business schools for its programs and faculty research.

Say Howdy to Mays: https://mays.tamu.edu

Categories: Center for Retailing Studies, Centers, Donors Corner, Executive Speakers, Featured Stories, Marketing, Mays Business, News, Programs, Research, Staff, Students, Texas A&M