By Meredith Woodward King
Tim Mashrick didn't know what to expect when he signed up for the University of Vermont's five-day intensive program on "Sustainable Business: Practices in Support of People Profits and Principles." A financial analyst with New England Federal Credit Union, he was exploring the idea of obtaining an M.B.A. from UVM, and he wanted to take a business course or two.
He was happy to discover that the annual summer "Sustainable Business" seminars – available for one- to five-day options – have benefited him in his work and also helped him build credits for his eventual acceptance in the M.B.A. Program.
"There's a multi-pronged approach that people have to take. They have to look at minimizing waste – not just garbage, but efficient use of resources, of capital, of space," said Mashrick, who took the seminars last summer and soon will begin the M.B.A. Program. "That plays into the financial dimension. It's easier to be responsible if you have the financial means to do so. Sustainability can't go on unless you're financially sustainable on top of it."
Companies also need to build a sound business model. "The more places that your business model dovetails with your community responsibility," he said, "the more successful you will be in terms of sustainability and financial success."
Mashrick hopes to reinforce ways in which the credit union can build sustainability into its business model. "You might not think of a financial institution as a company that embraces all areas of sustainability, but in fact we do have a significant paper reduction and paper recycling program here," he said. "We work with Secure Shred. We're protecting members' financial data at the same time we're recycling all that waste."
This year's "Sustainable Business" program is being offered from Monday through Friday, July 9-13, on the UVM campus. Daily topics include "Ecological Economics: Integrating Social, Built, Natural, and Human Capital in our World"; "Introduction to Sustainable Venturing and Marketing"; "Values-Led Leadership: Winning with Principles from the Inside Out"; "Creating a Workforce Management Strategy through Socially Responsible Business Practices"; and "Research in Action."
The five-day program is offered for three college credits or for a Professional Certificate in Sustainable Business Practices. Or students may attend for one to four days for non-credit.
Similar to last year, students who attend most days will divide into two teams, meet with representatives of Ben & Jerry's and work on sustainable marketing projects under way at the company. During Friday's "Research in Action" seminar, they will report on their team's progress, in addition to reviewing sustainable venturing, marketing, leadership and performance measurement.
Mashrick especially enjoyed the group project with Ben & Jerry's. His team visited the corporate headquarters, met with staff members and developed a plan for marketing Ben & Jerry's organic ice cream. They wrote a 20-page report at the end of the course.
"There was a lot of proprietary information that was shared with us (by Ben & Jerry's), so you really felt like you were a part of that team," he said. "This was a real business problem, and we were working in almost a consulting relationship with them. That really added value to the class."
Overall, Mashrick would highly recommend the "Sustainable Business" program. "It really opened people's minds to the possibilities of finding viable business solutions that are also sustainable solutions," he said.
Last modified May 24 2007 11:55 AM
