Author: Joanne Lamphere Beckham

  • Speed still matters (and other topics)

    Speed still matters (and other topics)

    Joseph D. Blackburn, BE'63, the James A. Speyer Professor of Production Management, Emeritus. Photo by Daniel DuBois.
    Joseph D. Blackburn, BE’63, the James A. Speyer Professor of Production Management, Emeritus

    Joseph D. Blackburn, BE’63, had a much better idea. Blackburn, the James A. Speyer Professor of Production Management, Emeritus, declined to draft the content of a last lecture (he said it sounded too much like writing his own obituary) but offered to give Vanderbilt Business a transcript of what he’d say in a presentation similar to a TED talk.Here are excerpts from Blackburn’s “The Continued Relevance of Time-Based Competition,” which can be read in its entirety at vu.edu/blackburn.

     

    Faster than the other guy

    Time-based competition was once a buzzword, and many now consider it passé. A recent article in the Economist claimed that speed had lost its importance as a business strategy. I would argue precisely the opposite—that the speed with which businesses can respond to customers has never been more important.

    To win this competition among suppliers with equal capabilities, you simply have to be faster than the other guy. No one wants to wait any longer than necessary. From the Middle Ages on, competition among international traders has been based upon time. The principles of time-based competition are, ironically, timeless.

    Although the term first attained prominence through the practices of Japanese firms, many firms in America and elsewhere adopted a strategy based on speed that allowed them to dominate their industries (think of Toyota, Dell and Amazon).

    In the financial world, the time to analyze data and execute trades has become so important that firms will spare almost no expense to shave microseconds off their transaction times.

    With their convenience and exceptional delivery speed, Amazon continues to gobble up huge chunks of business in all segments of retail from their conventional brick-and-mortar competitors (including their online divisions).

     

    A new direction

    Through conducting studies of time-based competition, I became interested in the value of time in an industry—that is, what is the value to a firm of a specific improvement in response time? Taking it one step further, how does the issue of time impact businesses that are trying to develop more sustainable operations?

    This has been the basis for my latest and possibly last research projects. It is an interesting new area because of the need to improve the environment by making more efficient use of production resources and products. Our research has focused on how to extend the life of products beyond their initial use through remanufacturing, reuse and recycling. We found that, in industries with high time-value products such as computers and cell phones, delays in recovery and reconditioning of those products caused significant losses in profitability. Time-based recovery processes are needed to make reuse economically sustainable. I—and my fellow researchers—have explored the barriers to sustainability in these recently published articles in Science Direct  (vu.edu/blackburn1) and California Management Review (vu.edu/blackburn2).

    I remain interested in applications of value of time for product development and for supply chains, but I am doubtful if any major new projects will emerge. In retirement, the value of time takes on a much different, more personal meaning. I can play as much tennis as I’m physically able and travel as much as I’m financially able. Although I thoroughly enjoyed my teaching and research career at Owen, I haven’t found another teaching opportunity that is as appealing as having the free time for other activities.

     

    And now, lessons learned

    The pioneering work on time-based competition was done by visionaries at Toyota and the Boston Consulting Group. If I made a contribution, it was to describe and communicate the relevance of these concepts to business and academia. Hundreds of papers, conferences and several books have been written on the subject, and the principles have been adopted worldwide. For me and my career, time-based competition changed everything.

    Among the important lessons I’ve learned from research and teaching, three things stand out. First, the best research and teaching are informed by practice. You have to be in touch with, work with and learn from industry. Teaching, especially executive teaching, is enriched by an ability to relate the concepts to actual company experiences.

    Second, most of the major advances in the practice of business operations have come not from academia, but from industry. The time-based competitive practices we know today were first developed at Toyota. The quality movement of the 1980s and the development of modern supply chains also were practice-driven. The time I spent in industry learning about time-based competition gave my writings more impact on practice and changed my view about how to conduct research. Time in the field working with practitioners and learning from them can pay huge dividends.

    Finally, researchers should be bold and seek out interesting collaborators. Unless you are that rare innovator, you will not find the new, counterintuitive idea that characterizes good research—the research that changes how people think about things. Any success I had in research is because I have had outstanding collaborators or mentors. Chief among them was the late Bruce Henderson, founder of Boston Consulting Group and a great friend of Vanderbilt and the Owen School. ■

     

     

  • People person

    People person

    Belinda Grant-Anderson, BE’83, MBA’90, earned a Vanderbilt School of Engineering degree and is in leadership at one of the world’s largest telecommunications companies. So what does the engineer say is her company’s top advantage? People. “People are the greatest asset we have,” she says, “and diversity makes us a stronger, more competitive company. Research has shown that a diverse workforce is more innovative and able to come up with better solutions to problems.”

    Belinda Grant-Anderson
    Belinda Grant-Anderson

    As vice president for diversity and inclusion at AT&T, Grant-Anderson works both to create a supportive environment for employees from a variety of backgrounds and to help the company build a heterogeneous pipeline of talent.
    “Diversity helps us recruit the best workers,” she says. “Look at how the world and the demographics of our country are changing. People come here and see a lot of employees like themselves. We want our leadership to reflect a variety of backgrounds, and we hold them accountable for diversity and inclusion initiatives in their areas.”

    Starting with students
    “All companies use technology and need their employees to be computer-savvy,” she says. As a Fortune 500 telecommunications company, AT&T also needs employees with technical skills or aptitude. That can be a challenge when seeking people of diverse backgrounds. STEM jobs (science, technology, engineering and math) are in demand throughout the nation, but interest in technical careers is low among women, people of color and others who make up a diverse workforce.

    “The good news is that AT&T is able to attract talented people from different backgrounds because of our record of inclusion. We’ve been on the journey since 1968,” she says.

    Her job includes partnering with groups such as the Society of Women Engineers, the National Center for Women and Informational Technology, INROADS and other organizations for African-American, Hispanic and Asian students and those with disabilities.

    “We’re also investing in our future employees in middle and high school through organizations like the Girl Scouts and Girls Who Code,” she explains. “In addition, AT&T has a mentoring program called ASPIRE, which helps to keep at-risk students from dropping out of school.”
    The company also invests in its current, nontechnical employees to move them onto the tech track. “We help employees transform themselves through certification programs, online learning platforms and online master’s degrees in technology,” she states.

    Path to decision maker
    A native of Jacksonville, Florida, Grant-Anderson followed her father’s advice to study engineering, earning a bachelor’s degree in chemical engineering from Vanderbilt. Following graduation, she worked for Proctor & Gamble’s research and development division in Cincinnati for five years. Realizing that she needed an MBA to become a decision-maker who could influence a company’s future, she decided to return to her alma mater and enroll in Vanderbilt’s Owen Graduate School of Management.

    Belinda Grant-Anderson is a past member of Owen's Alumni Board and a current Board of Visitors member. In 2013, she was the keynote speaker at the school's Diversity Symposium.
    Belinda Grant-Anderson is a past member of Owen’s Alumni Board and a current Board of Visitors member. In 2013, she was the keynote speaker at the school’s Diversity Symposium.

    “I looked at a lot of programs,” she remembers. “Owen had a great reputation, and they focused on team work. That’s what I wanted—to be part of a team, learning from my peers in a cooperative environment.”

    With her MBA in hand, Grant-Anderson became a consultant with the Atlanta office of McKinsey & Company, a global management consulting firm. During her eight years with McKinsey, she rose from associate to senior engagement manager.

    In 1998, she joined the former Bell South, which later merged with AT&T. She has served as executive director, division president and vice president in several different areas, including people development, regulatory and external affairs, operator services and strategic management.
    Her current role includes partnering with company business units to achieve their annual diversity goals, overseeing the diversity and inclusion awards submission process and managing AT&T’s relationship with external research partners.

    “My personal formula for success includes consistently exceeding expectations, taking measured risks, being a team player and helping others develop,” she says.

    Outside measures of diversity
    During her tenure, AT&T has received numerous awards, including being named a Top Company for Diversity by DiversityInc, No. 1 Company for Diversity by Hispanic Business Magazine, a top 40 company by Black Enterprise, DiversityMBA’s Company of the Year and a top company for executive women by the National Association for Female Executives. It also has received a perfect 100 percent score on the Human Rights Campaign’s Corporate Equality Index for 12 consecutive years.

    Grant-Anderson credits the company’s top leadership with making those accolades possible. “You absolutely have to have support at the top of the company,” she says. “Our chairman and CEO, Randall Stephenson, and his officer team understand the value of diversity. They drive the support throughout the organization.”

    p28a[1]Grant-Anderson and her staff of 10 oversee a dozen employee resource groups (ERGs) composed of 110,000 employees. The groups support African-American employees, Hispanics/Latinos, Native Americans, Asian/Pacific Islanders and Asian Indians. There also are groups for military veterans, people with disabilities, the LGBT community and employees of different generations. All ERGs are open to all AT&T employees.
    She also manages nine domestic and international employee networks (15,000 memberships) focused on particular business fields (for example, AT&T Women of Finance) and professional development matters. One employee network supports international employees who have children under age 13. All of the networks are open to all employees.

    Currently a resident of Dallas, Grant-Anderson and her husband of 21 years are the parents of two daughters. As a 10-year survivor of breast cancer, she stresses the importance of annual mammograms and encourages others facing the disease. She is a member of the Owen’s Board of Visitors and a past member of Vanderbilt’s alumni board.

    “I think Vanderbilt University is one of the best schools in the country,” she says. “I had a great education in a supportive, win-win environment at Owen. Whatever I can do to help the school, I’ll do it.” ■

  • Perfect Fit

    Perfect Fit

    iStock
    iStock

    When Michael Scanlon accepted an internship, and then a job, with Apple Computer in 2001, his friends and relatives thought he was making a big mistake. The dot-com industry had just crashed, the job market was tight and then 9/11 happened. Apple had just introduced the iPod and the iPhone was another six years away.

    “They told me I was going to be out of a job in a year or two if I chose to stay with Apple. But working there that summer made me feel otherwise,” Scanlon says. “I fell in love with the company and couldn’t see myself going anywhere else.”

    Today Scanlon, MBA’02, is senior manager of worldwide store operations for Apple. As such, he oversees a team of managers and employees at centers in London, Shanghai and Cupertino, California.

    During his internship, Scanlon worked on the company business plan for 2002, which came to $6 billion for the entire year. “Recently we announced quarterly revenue of close to $50 billion,” he notes by way of contrast.

    All Vanderbilt MBA students, except those whose employers are paying for their education, are required to do a paid 10-week internship between their first and second year. Finding the right fit that leads to a full-time position, as Scanlon did, is one of the major benefits of the internship program, says Emily Anderson, director of the school’s Career Management Center.

    “I fell in love with the company and couldn’t see myself going anywhere else.”—Michael Scanlon, MBA’02

    “We help the students figure out possible career avenues and understand the longer-term career progression,” Anderson says. “For the past two years, 50 percent have come back with job offers right after their internship.”

    For every Michael Scanlon who finds the perfect fit, others find what they don’t want to do. Anderson says those experiences lead them to better decisions about companies for the job hunt during their second year.

    A good deal for recruiters

    Internships are a good deal for the recruiting company, too. “A lot of companies would like to do full-time recruitment through internships and fill three-quarters of their recruiting class that way,” Anderson says.

    John Kingston, MBA'07
    John Kingston, MBA’07

    John Kingston, MBA’07, former director of the Global Industries Group at Bank of America Merrill Lynch, says he preferred to hire most of his associates through internships. “An internship is like a 10-week job interview,” he says. “What better way to feel confident about a hire?

    “Interns gave us a new pool of valuable resources. They were part of our team,” he says. “By the end of the internship, some were operating at a higher level than our full-time associates. That momentum carried over when they were hired. In a fast-moving, competitive job, it makes a real difference.”

    When interviewing interns, Kingston looked for certain traits: “First, a high level of comfort with numbers; second, the ability to organize and prioritize; and finally, a good attitude and real interest in the job.”

    Right fit, right company

    “An internship is like a 10-week job interview.”—John Kingston, MBA’07

    Recruiting is part of the job for Janet Nelson, MBA’07, senior human resources manager of Procter & Gamble’s North American Feminine Care and Baby Care division. Although her first responsibility is providing HR support for her vice president, she also has recruited Vanderbilt MBA interns for P&G for the past eight years.

    “We’ve had great success,” she says. “Owen is one of our core recruiting schools for the HR function.” Vanderbilt MBA alumni currently hold five HR management positions at the company.

    Nelson, whose MBA focus was human and organization performance, became interested in P&G during her first year at Owen, when the school encouraged her to attend the National Black MBA Conference. After an initial interview at the conference, she had a second interview at the company’s Cincinnati headquarters. She completed an internship in 2006 and joined the company after graduation in 2007.

    Janet Nelson, MBA'07
    Janet Nelson, MBA’07

    “What drew me to P&G is the same thing I look for in interns,” she says. “We want ethical people who can win by doing the hard, right thing, rather than the easy, wrong thing.

    “As a recruiter, I look for someone who has a track record of delivering results in a collaborative way, someone who works well with others but also takes initiative. Since P&G builds from within, we want people who not only have drive and ambition, but also feel a sense of obligation to build those around them.”

    During her internship, Nelson worked in product supply operations and helped with P&G sponsorship activities at the National Underground Railroad Freedom Center in Cincinnati. While working on the latter, she had the opportunity to interact with P&G’s current and former CEOs, A.G. Lafley and John Pepper, respectively.

    “It’s not often that interns get to engage with company leaders at that level,” she observes.

    As a single mother, Nelson found the company’s commitment to work-life balance and job flexibility very attractive. “The level of trust, support and responsibility are what drew me to P&G, and they are what keep me here,” she says.

    Developing leadership

    Hillary Carroll Jeffries, MBA’14, entered the career development program at DaVita Inc. following her internship with the company, which is one of the largest providers of dialysis services in the United States.

    Jeffries and 18 other graduates of the nation’s top business schools participated in DaVita’s nine-month Redwoods Resident Leadership Development Program based in Denver.

    “During the first three months, we explored different aspects of the business,” she says. “I traveled to all the corporate departments in the U.S. and was exposed to many company leaders. For the next six months, I worked as the facility administrator of a dialysis clinic, responsible for running the clinic.”

    Today, Jeffries is on track to become director of business relationship management for DaVita’s IT organization.

    “I support three vice presidents of clinical enterprise who are responsible for major clinical changes. I help develop the right IT solutions for initiatives they are working on,” she says.

    Hillary Carroll Jeffries, MBA’14 (right), in 2013 with fellow Owen interns Tyler Narveson, MBA’14, and Allyson Mariani, MBA’14, at DaVita company headquarters in Denver.
    Hillary Carroll Jeffries, MBA’14 (right), in 2013 with fellow Owen interns Tyler Narveson, MBA’14, and Allyson Mariani, MBA’14, at DaVita company headquarters
    in Denver.

    Jeffries secured the DaVita internship through Vanderbilt’s recruiting process. “DaVita has a close relationship with Owen,” she says. “It’s a core recruiting school for the company. Two other Owen students were recruited for internships with DaVita my year, and all of us accepted job offers.”

    During the fall semester of her first year at Owen, Jeffries spoke with a Career Management Center career adviser. “My adviser helped me decide between the two internship offers I received,” she recalls. “I chose DaVita because it has a collaborative culture like Owen’s.”

    Unsure whether to go into finance, IT or some other aspect of the health care field, Jeffries appreciated being introduced to companies with a leadership development program.

    Anderson says the CMC helps students like Jeffries understand how their career aspirations and skill sets fit into different companies’ cultures. The center coaches students on how to interview and make a positive impression, holds career fairs, and helps students network with alumni, faculty and visiting companies.

    “We’re going to have 80 companies on campus throughout the year,” Anderson says. “We currently have 617 job postings for interns and full-time positions. We like to have relationships with companies that will recruit year in and year out, and our students gravitate toward them.”

    Consulting and international business

    Peter Attwater, MBA'14
    Peter Attwater, MBA’14

    As a senior consultant in strategy and operations at Deloitte Consulting, Peter Attwater, MBA’14, has a variety of responsibilities. “My job includes analyzing data, conducting interviews, synthesizing information, mentoring junior staff, and developing materials to provide insights, analysis and recommendations to our clients,” he says.

    “I worked on a project in St. Paul, Minnesota, for a four-hospital health system that needed to implement its new electronic health-record system in time to meet the federal deadline,” he recalls. Because of his pre-Owen background in revenue cycle consulting for hospitals, he was given the opportunity to lead a client workgroup during the project. “It was a great opportunity to leverage my past work experience and accelerate learning all the steps required to implement a new technology solution,” Attwater says.

    “I left knowing exactly what kind of client I wanted to work with.”—Mary Hsu

    Internships are not limited to MBA programs. As part of Vanderbilt’s one-year Master of Accountancy, Mary Hsu, MAcc’09, completed a winter internship with PricewaterhouseCoopers that led to a job offer after graduation. Today she is on her second multiyear international rotation, based in Geneva as an assurance manager in audit practice.

    Her PwC internship led Mary Hsu, MAcc’09, to assignments around the globe.
    Her PwC internship led Mary Hsu, MAcc’09, to assignments around the globe.

    “I primarily serve large U.S. multinationals,” she says. “I help oversee our audit teams, work with clients on various accounting issues, and act as a liaison between different client service teams.”

    Hsu met PwC and other big accounting firms through the MAcc program’s campus recruiting events. She spent months networking—even before classes started—and then had formal interviews during the program’s Immersion Week.

    “The internship was a good chance to see what a typical ‘busy season’ was like for a public accountant,” she says. “I left knowing exactly what kind of client I wanted to work with.”

    During the past six years, Hsu has lived in the U.S., Singapore and Switzerland. She has done stints in China, India, Canada, France, Belgium and Northern Ireland.

    Michael Scanlon, MBA'02
    Michael Scanlon, MBA’02

    Multiple advantages

    In addition to securing a job offer at the end of their internships, alumni point to other advantages of the experience.

    “I got to meet a ton of new people that I am still good friends with today,” Attwater says. “Whether it was the Owen alums that came back to campus to recruit, the members of my project team, or the other MBA students in my internship class, I had significant opportunities to meet new people and expand my network.”

    Hsu agrees. “I still work with a client from my internship today,” she says. She also works in Switzerland with the PwC associate who was assigned to be her peer buddy during her internship.

    Scanlon says that his Apple internship allowed him to apply what he learned in school to a real-world environment. “It helped me understand if I was going in the right direction with my MBA,” he says. “It validated my career goal.” ■

  • The Man Millions of Baby Boomers Turn to for Investment Advice

    The Man Millions of Baby Boomers Turn to for Investment Advice

    If you’re one of the millions of investors who invest in managed accounts or mutual funds at Fidelity Investments, then you know Derek Young’s work. Young, MBA’91, is president of Fidelity’s Global Asset Allocation division and vice chairman of Pyramis Global Advisors. He leads an investment division at Fidelity that provides investors with solutions that can help them meet their financial needs from retirement and college planning to wealth management and tax-sensitive investing. His division’s clients include individuals, intermediaries and institutions.

    “We try to make investments simple for the investor,” he says, “by devising strategies for today and through retirement.”

    Derek Young
    During a roundtable discussion last year, Young talked about the Owen culture and how it shapes leaders. Watch the roundtable video

    Those investment strategies are included in 401(k), 403(b) and defined benefit plans, including the popular Fidelity Freedom Funds.

    Young’s business is responsible for $568 billion in assets under management. His team is responsible for managing an array of investment solutions as well as for the online retirement planning and calculation tools on Fidelity.com. It also provides personalized wealth management strategies for Fidelity’s high net worth clients looking to build, preserve and transfer their wealth.

    “One size fits me” investment plans

    Today’s investors, Young says, are increasingly choosing plans designed specifically for them. “Our clients are transitioning from ‘one size fits all’ to ‘one size fits me,’” he says. “More people are transferring their retirement planning to an investment manager.”

    Whether using an investment manager or not, Young says that the most important piece of guidance he can share is “develop a long-term strategy and stick with it.”

    “Young’s business oversees $568 billion in assets.

    “The problem for most people,” he says, “is that they pull their money out when they see the market falling and get back in when it goes up. That means they’ve sold low and bought high, which is very different from how they make other purchases.

    “In asset allocation, we favor building a well-diversified portfolio consisting of multiple asset classes focused on your unique risk and return needs to achieve your specific investment goals.”

    Instead of “buy and hold,” Young recommends “buy and review.” He points to Fidelity’s Freedom Fund, for example, which targets the investor’s retirement date. The diversified, age-based portfolio of mutual funds is reviewed regularly and the allocation becomes more conservative as the retirement year approaches. After the target date passes, the fund becomes even more conservative.

    Save, save, save

    For young investors, he has three words of advice: save, save, save. “What people save in their 20s and 30s is most important for wealth creation and having enough money for retirement,” Young says.

    “One of the most difficult situations I’ve had to watch is baby boomers who are nearing retirement and find that they haven’t saved enough. That means they’ll have to work longer than they planned, or change their lifestyle significantly, or both,” he says.

    Young keeps a steady eye on market activity and world trends, which affect the balance of assets in any portfolio. He notes that currently, the overall U.S. economy is expanding and benefiting from a decline in oil prices.

    “This backdrop should be generally constructive for domestic equities,” he says, adding that global economic trends remain slower. Young does caution, however, that trying to time the market by predicting change is difficult for even the very best investors. “It is often the source of significant losses for individual investors in particular,” he says.

    Career kick-start

    Young began thinking about a career in investment management following an internship with the State of Tennessee between his first and second year at Owen.

    “I worked with the state pension plan, where we were dealing with large sums of money,” he recalls. “After that I decided to work toward becoming a chartered financial analyst.” His career received a kick-start one afternoon in 1991 at a gathering in the Management Hall courtyard.

    “Bill Taylor from the Federal Reserve Bank spoke to Professor Dewey Daane’s class that day,” recalls Young, who was then in his second year. “After class I invited him to come to the party. We were talking about the tough job market for MBAs at that time, and he said, ‘If you send me your résumé, you’ve got a job.’”

    Young took Taylor up on the offer and after Commencement, became a senior financial analyst in charge of derivatives and capital markets for the Federal Reserve Board in Washington, D.C.

    He later joined KPMG as a senior manager in regulator risk management practice. “I was trading derivatives, which are important tools when used appropriately,” he says. “My finance professor, Hans Stoll, had a strong background in derivatives, which was cutting edge at the time. His instruction was helpful to me at the Federal Reserve and with KPMG.”

    Since joining Fidelity in 1996, Young has served as portfolio manager of various funds, managed multiasset-class asset allocation portfolios, served as co-lead of the Fidelity Canadian Asset Allocation team, led Fidelity’s U.S. Asset Allocation Committee and represented North America on the firm’s global asset allocation committee. Before his promotion to president of the company’s global asset allocation division in 2011, Young was Fidelity’s chief investment officer for asset allocation.

    Drawn by collegiality

    A native of Georgia, Young came to Vanderbilt after earning a bachelor’s degree in 1986 from Troy University in Alabama. He was attracted by the business school’s reputation for faculty and student collegiality.

    Today, the 50-year-old father of two college-age daughters lives and works in Boston. He is a member of the Owen School’s alumni board and says the school’s supportive culture has also stood him well professionally.

    “Vanderbilt MBAs have a unique ability to work in teams and partner with their peers rather than achieving their personal goals at the expense of their teammates,” he says. “The sum of the whole is more than the sum of its parts.”

  • Beyond the Famous Name

    What do the Milwaukee Brewers, the Emperor of Japan, and a famous shipwreck have in common with the Owen Graduate School of Management? The answer can be found in the life of the late Edmund B. Fitzgerald, adjunct professor of management and Owen benefactor, who died Aug. 28, 2013.

    Edmund Fitzgerald
    Edmund Fitzgerald

    The retired chairman and CEO of Northern Telecom Inc. (now Nortel Networks Corp.), “made life-changing contributions to students at the Owen School as a teacher, mentor and philanthropist,” says Joseph D. Blackburn Jr., the James A. Speyer Professor of Production Management, Emeritus.

    “In Fitzgerald’s popular course on globalization and international business, he drew on his vast corporate experience to teach students the importance of a global mindset long before it was popular to think in that way,” Blackburn says. “The scholarship he established gives a deserving student full tuition to complete their studies and begin a career in international management.”

    Edmund Bacon Fitzgerald was born on Feb. 5, 1926, to a prominent Milwaukee family. His father, also named Edmund, was president and chairman of Northwestern Mutual Life Insurance Co.

    After serving as an officer in the United States Marine Corps during World War II and Korea, he earned a degree in electrical engineering from the University of Michigan and joined Cutler-Hammer, a Milwaukee-based electrical products manufacturer founded by his maternal grandfather, Frank R. Bacon. He rose through the ranks to become chairman and chief executive officer of the company.

    Play ball!

    Fitzgerald, along with Bud Selig and two others, brought major league baseball back to Milwaukee in 1969 a few years after the Braves left for Atlanta. Selig, who became president of the new Milwaukee Brewers franchise and later commissioner of Major League Baseball, has said that Fitzgerald played a crucial role in recruiting the Brewers to Milwaukee. Fitzgerald became the Brewer’s vice president and chairman of the board. He was also a member of the MLB Executive Council.

    In 1980, Fitzgerald became head of the Nashville-based subsidiary of Northern Telecom, a multibillion-dollar Canadian telecommunications company. According to one account, Fitzgerald’s “contacts, credentials and Yankee know-how… helped the Canadian firm overcome its unfamiliarity with more free-wheeling U.S. business practices.”

    “Big Ed … was a consummate gentleman, team builder and a good listener …”

    His success in Nashville resulted in Fitzgerald being named president and CEO of the parent company, which he helped transform into a global communications leader. Author John Tyson writes in his book, Adventures in Innovation: Inside the Rise and Fall of Nortel, that Big Ed (as his employees affectionately called him) was “a consummate gentleman, team builder and a good listener who embraced the (Canadian) corporate culture with ease.”

    He served on President Ronald Reagan’s National Telecommunications Security Advisory Committee and chaired the U.S. Committee for Economic Development. In 1997, the Emperor of Japan awarded Fitzgerald the Order of the Rising Sun, Gold & Silver Star, in recognition of his long devotion to improving trade relations between the U.S. and Japan.

    For many years, Fitzgerald and his wife, Elizabeth McKee Christensen Fitzgerald, lived in Toronto and Nashville. The pair was married for 65 years until Elizabeth’s death in 2012. They were the parents of four and grandparents of nine.

    Connection to tragedy

    Fitzgerald’s name is known to many through association with one of America’s most tragic shipwrecks, made famous by singer Gordon Lightfoot in his ballad, “The Wreck of the Edmund Fitzgerald.”

    In the 1950s, Northwestern Mutual named its new freighter after its chairman, Fitzgerald’s father. The Edmund Fitzgerald was one of the largest ships ever to navigate the Great Lakes. On Nov. 10, 1975, it sank in icy Lake Superior, drowning all 29 sailors aboard. The reasons for the wreck are still uncertain, but the connection followed Fitzgerald throughout his life.

    Edmund Fitzgerald
    Fitzgerald as most of his Owen students remember him.

    Unpaid and loving it

    After Fitzgerald’s retirement from Nortel in 1990, Owen Dean Martin Geisel persuaded him to teach globalization courses on a pro bono basis, which the businessman continued until 2008.

    Fitzgerald gave more than his teaching salary. He used a combination of annual and planned gifts to establish the Edmund B. Fitzgerald Scholarship in Global Competitiveness at Owen. Awarded annually to a second-year student who exhibits an extraordinary grasp of and commitment to global issues, the scholarship has already benefited six Owen students.

    “Education was very important to my father,” says his daughter Kathleen Fitzgerald Picoli. “He was very impressed with the talented students and faculty at the Owen School. He wanted to leave a gift to the next generation of students who shared his commitment to global issues as a way to improve the world.”

    Matt Clemson, MBA’10, was one of those students.

    “The Edmund Fitzgerald scholarship provided me enormous financial assistance as an over-indebted first-year business school student,” says Clemson, now a senior manager with RockTenn, an Atlanta paper manufacturer. “But taking Professor Fitzgerald’s class and reading his book Globalizing Customer Solutions had an even greater lasting impact on me. It gave me a framework for evaluating decisions with an appreciation for and understanding of different cultures, perspectives and tactics, and for that I’ll be ever grateful to Professor Fitzgerald.