UCF Business News

UCF College of Business Announces Capstone Competition Winners

Tue, 21 May 2013 10:30:00 EDT

A team of five students, known as “Advance Business Solutions,” won the annual Great Capstone Case Competition by proposing a plan for a smartphone wellness app.

Team members Salome Messam (leader), Brett Hannum, Juliana Restrepo, Justin Roszkowiak and Laureen Ramsey developed a smartphone app that would provide people with an interactive platform to better manage their decisions for living a healthier lifestyle. The team was from Regina Taylor’s lab, and was one of 18 teams out of 100 to make it to the semifinals.

(Above: The first-place team, "Advance Business Solutions," led by Salome Messam. Photo credit: Christopher Brown. View photos from the event on our Facebook page.)

The second-place team, named “Advantage Consulting,” came from lab instructor Chaim Letwin’s class and included Daniel Dirani (leader), Robert Costa, Danilo Cuellar, Christina Jones and Parker Kyle. The third-place team, “R. J. III,” was from the lab of David Wo and included Jose Poon (leader), Jordan Gibson, Jeff Simmons and Rachel Harmon.

The Capstone course is under the direction of Bob Porter, Ph.D., a lecturer in the UCF College of Business Administration’s (CBA) Department of Management. Judges for the semifinal round included: Stephen Goodman, Ph.D., Lauryn Migenes, Richard Quinn, Kathie Holland, Marshall Schminke, Ph.D., Shannon Taylor, Ph.D., Michael Ciuchta, Ph.D., Brendan Richard and Ghada Baz.

CBA Hall of Fame members Paul Gregg, ’74 & ’76, and Bob Case, ’70, accompanied by Target representatives Nick Padoan and Grace Blankenship, were the judges for the final round and selected the order of the five winners.

“The quality of these students and their ideas are outstanding,” said Porter. “The UCF College of Business is continuing to evolve and advance as a premier business school and our students demonstrate that in these kinds of competitions.”

The Great Capstone Case Competition is held at the end of each semester and is designed to help students strengthen their analytic, communication, presentation and teamwork skills beyond the classroom by developing recommendations for real-world business issues.

UCF Student Entrepreneurs Win Honors at Harvard Competition

Fri, 10 May 2013 15:46:00 EDT

A UCF student venture earned recognition at the International Business Model Competition (IBMC) held at Harvard University May 3-4. Care Capture, proposed by Mechanical Engineering major Tyler Salem and Computer Science major Juan Roa, took home honorable mention as one of the top eight proposals among the 28 competitors from leading U.S. and international university entrepreneurship programs.

Photo, L to R: Cameron Ford, Ph.D., Tyler Salem, James Davis, Malic Dekkar, George Gramatikas, '04.

Two other UCF venture proposals qualified for the competition. LightCloud was presented by Ph.D. candidate Malic Dekkar from the Institute for Simulation & Training, and Medical Laboratory Science major James Davis presented Optimed Lab Solutions. Both earned praise from event organizer Nathan Furr, Ph.D., for addressing important problems with innovative technology solutions. Over 1,000 venture proposals competed in regional events, and only 28 qualified for this international competition.

“Our students and their venture proposals were competitive with the top teams from Harvard, MIT, BYU, Wisconsin, and other elite universities. I’m extremely proud of how hard they have worked and how much they have learned,” said Cameron Ford, Ph.D., director of the Center for Entrepreneurial Leadership at the University of Central Florida College of Business Administration.

Tyler Salem’s company Care Capture offers a HIPAA-compliant software application that senior living communities can use to send wellness updates to family members. Some updates may include texts, videos, pictures and recent activities in which the patient participated. Salem has received numerous accolades for his venture, including a second-place finish in the UCF College of Business Administration/Center for Entrepreneurial Leadership Joust Business Plan Competition in April.

George Gramatikas, ’04, UCF College of Business Administration Hall of Fame member and founder of Turbine Technology Services, traveled with the team and served as a coach. “UCF students proved worthy competitors in the ‘World Cup’ of business model competition. We should be very proud of how quickly we have arrived on this scene, and the work of UCF staff to enable this achievement, “ he said.

The competition is based on strategic principles such as Lean Startup and Customer Development. It serves as a basis for helping young entrepreneurs become innovative leaders for their own startup companies. The goal of the IBMC is to promote entrepreneurship education and to reward those who are making a difference in the startup business community.

The first-place winner received $25,000 towards his or her company’s startup plan. Second place received $10,000 and third place received $7,500. The judge’s panel was comprised of several leaders in the industry, including Nathan Furr, assistant professor of entrepreneurship at BYU and founder of the IBMC. Also judging the competition were Alex Osterwalder, creator of the widely used Business Model Canvas; Steven Blank, who co-founded E.piphany and wrote the book Four Steps to the Epiphany; and Thomas Eisenmann, the Howard H. Stevenson Professor Of Business Administration in the Entrepreneurial Management Unit at Harvard Business School.

Students Support Prominent Non-Profit Orgs Through One of World's Largest
Service Learning Initiatives

Fri, 3 May 2013 14:40:41 EDT

Recently, students took part in the annual Cornerstone Social Entrepreneurship Competition at the UCF College of Business Administration. Each year, approximately 2,500 business students taking the Cornerstone class work over 40 hours as social entrepreneurs, helping to promote and execute the social missions of non-profit organizations around the Central Florida area. The competition, one of the largest social entrepreneurship service learning initiatives in the world, helps to highlight outstanding groups who have had a significant impact through their hard work and dedication to community and service organizations. The students are nominated and then evaluated by the Cornerstone Competition Nominating Committee, with the top teams advancing to the Cornerstone Competition Semi-finals.

Photo, above: The first place team, Heroes, with Cameron Ford, Ph.D. View other photos from the event on our Facebook page.

About this year’s Cornerstone Social Entrepreneurship Competition:

This year, 22 teams took part in the competition, which was sponsored by community leaders Jim Balaschak, ’86 & ’92 (CBA Hall of Fame 2007), and his wife Debbie Balaschak, ’88, and judged by prominent local business professionals Carol Ann Dykes, Amy Zeh, Roy Reid, ‘88, and Cathy Mathwig. The finalists were:

The Wild Knights (Instructor: Nasser Kutkut, Ph.D.)

Harry Atys
Jennifer Bellorin
Joshua Garrett
Hector Gama
Thomas Travers
Diana Whitney

Wonder Women (Instructor: Ghada Baz)

Sommer Andrews
Alina Gubanova
Lauren Heben
Oanh Hoang Le
Amy Messerschmidt
Christine O’Connell

Business As Usual (Instructor: Ghada Baz)

Yasin Arshad
Carlos Cortes
Mariah Garcia
John Greene
Helen Riddle
Caitlin Swan

Team Heroes won the event and the Out of the Life team took home the Sustainable Social Entrepreneurship Award.

Heroes:

Team Heroes, led by Management Lecturer Nasser Kutkut, Ph.D., consisted of:

John Olivares
Aisse Baradji
Brandon Bowen
Camila Rocha
Heloisa Moneiro
Jude Jean

Their non-profit partner was the Coalition for the Homeless in Central Florida. The goal was to raise $1000 to purchase school supplies for the homeless children residing in the care of the shelter. To help achieve this goal, the students put on charity events, including a Zumba fundraiser and a 5-on-5 Soccer Tournament (watch the team's promotional YouTube video)

Out of the Life

One very special team, coordinated by Lonny Butcher, director of Career Connections, was recognized by the judges for their philanthropic efforts in serving those who have been victimized by human trafficking.

The team, representing the local organization Out of the Life, not only stunned the judges in their description of what is was like working directly with trafficking victims, but they also delivered a powerful presentation on their efforts to preserve the mission of the Cornerstone initiative. Unlike any other team, the Out of the Life team was comprised of 120 students. The five students presenting on behalf of the group were:

Amber Marken
Coral Martinez
Josh McCarthy
Alexis Norwich
Monet O’Brien
Lidia Rodriguez

Each student played a key role in the team’s efforts and helped raise over $16,000 for the organization.

The team also:

hosted an art show at the UCF Art Gallery showcasing pop art from victims
hosted a 5K called Zombie Insanity, which was held at Omega Ranch in New Smyrna Beach
helped Out of the Life gain new corporate partnerships, secure an additional safe house with eight new beds, and administer two additional staff members to the board of directors

About Jim and Debbie Balaschak:

The Balaschaks are very community-oriented people who have volunteered their time, talent and treasure to many organizations throughout the community. Their commitment to community and to UCF is demonstrated by their support of the Cornerstone program and the competition. They wish to encourage students to learn the value of volunteering and hope that the experiences gained in the Cornerstone program will continue after graduation. It is thanks to the Balaschaks’ generous financial support that UCF is able to recognize the outstanding students’ activities.

Entourage Red Wins Annual Joust Tournament

Fri, 19 Apr 2013 14:45:00 EDT

The CBA, in conjunction with the Center for Entrepreneurial Leadership (CEL), hosted its annual Joust Business Plan Competition finals showcasing students and their innovations and business models. The format for the event is much like the television show, Shark Tank, involving presentations in front of a panel that decides how the teams rank and receive rewards.

Team Entourage Red LLC won first place at the Joust. Students Taylor Cheeley and Nicole Enterlein were the winners of the event and were congratulated by their peers for the ingenious branding of the SMARTWAY Sanitary Cup, which is a disposable urine funnel for women. The SMARTWAY Sanitary Cup enables women to stand and urinate while facing the commode, reducing chances of contracting diseases by eliminating unnecessary contact with contaminated surfaces. The product is inexpensive, mess-free and hygienic.

“I talk constantly about the need for students to get out of their comfort zones, accept the possibility of failure, and use data to drive their decision-making, said Paul Jarley, Ph.D., dean of the college. “Taylor and Nicole took everyone way outside their comfort zones. They learned from their past experience and used data along with a crisp presentation to allay fears, overcome social norms and pitch a potentially disruptive product that no one had given a chance at the beginning of the day.”

“Winning the Joust validates that SMARTWAY Cup is a revolutionary product with serious market potential,” commented Taylor Cheeley. “We’re honored to receive the prestigious recognition, and poised pursue national contracts. We believe the Joust has refined our business model and changed our lives.”

The Joust Business Plan Competition is an annual event that the College of Business Administration hosts on campus. Students get together and form teams that will then present to the judges a strategic business plan along with a business proposition and pitch. For more information on the competition, visit the Center for Entrepreneurial Leadership’s website.

Finally, Good News for the Florida Economy

Thu, 11 Apr 2013 11:25:00 EDT

Florida’s economy appears to be breaking free of the dark ages and is poised to live up to its moniker – the Sunshine State.

“Florida’s economy may not be experiencing a full-blown Renaissance right now, but it is beginning to shake off the effects of the housing plague on its economy. 2013 is shaping up to be a year for Florida to transition back into higher growth,” said economist Sean Snaith, director of UCF’s Institute for Economic Competitiveness.

There are still some dangerous potholes to avoid, which can send the economy crashing, such as the Euro crisis and the impacts of the sequester in the United States which are expected to really be felt in the second quarter of this year.

The housing market is enjoying some recovery, but Snaith cautions that banks need to loosen the purse strings. According to data from Florida Realtors, 51 percent of single-family and 77 percent of townhome transactions were cash sales in February. He says this high share of cash transactions is a threat to the sustained recovery of the housing market. But if purse strings loosen a bit, the housing market can spur even healthier growth that will translate into every part of the economy.

“As 2013 gives way to 2014, Florida’s economy will begin to grow more rapidly, labor markets will improve, and housing prices will benefit from the improving fundamentals. Economic and demographic growth will provide a solid foundation upon which a housing sector can once again grow in a healthier manner. Once these key drivers are back in place for Florida, the state’s economic outlook will be rosy once again,” Snaith said.

Read more about Snaith's Florida economic forecast on UCF Today.

Orlando Lawyer and UCF Professor
Builds School In Cambodia

Tue, 9 Apr 2013 14:35:00 EDT

A local attorney and professor in the Executive and Professional Program at UCF, Kay Wolf, raised over $86,000 to build and equip a school in Cambodia. With her firm, FordHarrison LLP, a national labor and employment law firm, fully supporting the initiative, she was able to complete construction of the school in less than a year.

Wolf was inspired to build The FordHarrison School in a rural village in Cambodia. The day she came to her partner Lash Harrison about her inspirational idea, he simply told her-“go for it!” Upon completion, Wolf made a trip to see all of her hard work in action. Holding back tears, she opened the door of the van and was greeted by 420 gracious children. It was in that moment that Wolf knew she had done the right thing, and that the school would continue to bring hope to the community and inspire her to keep dreaming big dreams.

“I grew up believing that education is the key to financial independence and stability—both of which are desperately in need of in Cambodia,” she said.

With the help of the firm’s $20,000 donation, and the constant support of friends, family, and colleagues, Wolf was able to build the FordHarrison School and enable the young children in that village to succeed in something greater. Her legacy will continue to live throughout the entire community for years to come as she has inspired the village to live an educated life.

Wolf has practiced law in the Orlando area in both private and public sectors since 1976. Her practice is devoted to providing management with the necessary tools to meet the challenges in today's employment arena, through proactive legal advice, training, and litigating complex cases in both trial and appellate courts. She represents employers in a variety of industries, including health care, defense, energy, construction, telecommunications, financial, hospitality, public and non-profit sectors, in discrimination and retaliation, non-compete and wage and hour matters.

Growing Optimism for the
Real Estate Industry-At Last!

Tue, 9 Apr 2013 14:00:00 EDT

The University of Central Florida’s College of Business Administration hosted a real estate conference for more than 215 community leaders. More photos from the event can be viewed on the college's Facebook page.

Called Growing Optimism for the Real Estate Industry - At Last!, this meeting was co-presented with the Dr. P Phillips Institute for Research and Education in Real Estate. This was the inaugural event for and annual program targeted at gathering preeminent commercial real estate owners, practitioners, and key decision makers in Central Florida.

The Conference program focused on real estate’s emerging landscape in 2013 and beyond. The program featured key influencers and industry leaders including:

Randy I. Anderson, Ph.D., CRE, Howard Phillips Eminent Scholar Chair and Professor, Department of Finance and Dr. P. Phillips School of Real Estate, UCF College of Business Administration
Marshall S. Cohn, ’11, President, The Dunhill Companies
Mayor Buddy Dyer, City of Orlando
Paul Ellis, President, CNL Commercial Real Estate
Joshua Harris, Ph.D., CAIA, ’04, ’07 & ‘12, Director, Dr. P. Phillips Institute for Research and Education in Real Estate, UCF College of Business Administration
Paul Jarley, Ph.D., Dean, UCF College of Business Administration
Mike Lafitte, Global Chief Operating Officer, CBRE
William S. “Bill” Moss, Senior Managing Director, CBRE
Jaime Patterson, ’06, Senior Associate Director, Degree Programs, Executive Development Center, UCF College of Business Administration
Sean Snaith, Ph.D., Director, Institute for Economic Competitiveness, UCF College of Business Administration
Rasesh Thakkar, ‘84, Senior Managing Director, Tavistock Group

For more information on the Dr. P. Phillips School of Real Estate, visit their website.

Photo above, L to R: Bill Moss, senior managing director, CBRE; Paul Jarley, Ph.D., dean, UCF College of Business Administration; Mayor Buddy Dyer, City of Orlando; Bill Bagley, sales and leasing associate, The Dunhill Companies; Rasesh "Sesh" Thakkar, '84, senior managing director, Tavistock Group. In back: Sean Snaith, Ph.D., director, Institute for Economic Competitiveness, UCF College of Business Administration.

Millionth Exam Taken in UCF’s
Thomas L. Keon Testing Center

Tue, 9 Apr 2013 13:57:00 EDT

A University of Central Florida student took home an iPad Mini for completing the one millionth exam at the Thomas L. Keon Testing Center. Josh Frongello, a junior in the College of Business Administration, double majoring in Finance and Accounting, received the honor. He was taking an exam from Associate Professor Hoon Park who teaches in International Business. He also interns at Disney’s Animal Kingdom as a food and beverage associate and plans to work in the theme park industry after graduation.

“I really like the Testing Center. It is extremely convenient and allows me to schedule around the hours that I work,” says Frongello.

The Thomas L. Keon Testing Center is the hub for students to take their exams. There are over 196 computers in the center, plus an additional 75 in the overflow room. The testing center is one of UCF’s initiatives to keep the students engaged in their studies and allow them to work within the digital space. The center first opened in 2003 and nearly 7,504 exams were taken during that academic year. In the Fall Semester of 2012, 70,755 exams were taken with 16,220 taken during the finals period. That is a staggering number and proves just how important the testing center is for the university system.

The Testing Center is a fully-secured facility in which business professors can allow students the flexibility to take exams on their schedules. For more information, visit the website.

DECA Chapter at UCF Receives Chapter Leadership Passport Award

Mon, 8 Apr 2013 13:20:00 EDT

The University of Central Florida’s Collegiate DECA chapter received the Chapter Leadership Passport Award for the 2012-2013 academic year. UCF is the only school in Florida to receive this prestigious award. UCF is also receiving the Presidential level, which is the highest level of award honored by the DECA program. The award recognizes those chapters who have excelled at ensuring that their members are actively engaged in the Collegiate DECA program and who have far exceed their chapter goals related to DECA.

The UCF Collegiate DECA chapter will be presented with this award at the International Competition in Anaheim, California this month. There are only 20 chapters in the country that will be receiving this award at the Presidential level.

DECA is an international organization for college students preparing for careers in marketing, merchandising, management, entrepreneurship, advertising, sales, hospitality, culinary arts, criminal justice and other business and marketing related areas. Its local chapters are a division of the Florida Association of Collegiate DECA. You can find out more about UCF’s chapter on our website.

Young Investors Club Wins Motley Fool Campus Challenge

Fri, 5 Apr 2013 10:26:57 EDT

The Young Investors Club (YIC) took home the $5,000 cash prize for winning the Motley Fool Campus Challenge. The club is now the first registered organization on campus that can trade and invest money as a club.

Kaley White, secretary of the club, says after earning the cash prize, “We’re going to start making a name for our club now.”

Chief Investment Officer Joey Solitro surely made a name for himself at the competition. Solitro crafted posts for the blogging network that were comprehensive research pieces in which he aggregated information from experience and personal research papers. Ultimately his dedication to the YIC’s success and his attention to detail bolstered UCF far beyond any of the other teams in the competition.

“It was an honor to represent UCF in the competition. We had a great time working with our current members, and we succeeded in all the right places. I am beyond thrilled we received the award and the $5,000 cash prize that will help out our club tremendously,” said Craig Bolz, club president.

The contest was free for anyone 18 and older and enrolled in the university. Only the contestants associated with an investing club and business entity were able to win the team prizes. The point system was broken down into three different categories; base points, bonus points, and double bonus points. These points were awarded based on the team’s participation in the Motley Fool Blogging Network. UCF earned a total of 267 points. The next closest team who placed was the University of Texas with 88 points. Needless to say, the Knights dominated the competition.

For more information on the Young Investors Club, visit their Facebook group.