Page 7

CarlsonSchool_Spr_2014

Student Venture Tests New Social Business Model Full-Time MBA student Jeff Ochs is helping build a new sector of business that combines the public good mission of a non-profit with the profitability and private ownership structure of a for-profit company. In addition to supporting a variety of initiatives to fuel statewide growth of “social business,” he recently launched Cornerstone Stories to examine the model in action. Storybooks promote understanding and learning Cornerstone Stories offers custom children’s storybooks that reflect a family’s unique blend of values and culture. To create a book, customers choose four stories from a sizable catalog of illustrated fables and parables from around the world. They can also select the language for each story and add personalized dedications. Cornerstone Stories then prints, binds, and ships the customer a special book. Social business model combines public good and profit Cornerstone Stories is a social business: It follows a mission of public good while building financial value for investors. Ochs designed the venture as a testing ground for the new business model. “Social business is about pursuing a double bottom line. Within the same business, we’re trying to make a concrete social impact as well as make a profit,” he says. “Cornerstone Stories is a way for me to push the envelope as a practitioner while I help develop the sector as a whole.” BY BRIDGET AYMAR Read an expanded version of these stories at carlsonschoolmagazine.com BY BRIDGET AYMAR SPRING 14 CAR2L0SON SCHOOL GOEFM ENT MANA5 get their products sold in Target, Walmart, Best Buy, HSN, QVC, and others. In 2012, after 13 years in sales, Barr took notice of a new business opportunity on the TV show Shark Tank. During that fateful episode, Freaker USA founder Zach Crain solicited an investment in Freakers: one-size-fits-all drink insulators that keep beverages cold and hands dry. Barr was instantly intrigued by the invention and reached out. He took on the start-up as a client and began shopping the product to major retailers. PHOTO BY WALLY AGBOOLA MBA Students Dominate 2 Prestigious International Case Competitions Carlson School MBA students captured top honors at the John Molson MBA International Case Competition in Montreal in January. MBA students Ian Williamson, Timothy Byrne, Sam BeVier, Katie Williams, and Associate Director of the Graduate Business Career Center Stephen Glomb prepared for months for the grueling competition. When severe weather grounded Williams in Chicago, alternate Johannes Effenberger from Munster University competed in her place. Also in January, a Carlson School MBA team was one of two groups selected to compete for the grand prize in the National Investment Banking Competition in Vancouver. Matt Born, Robert Tinkham, Andrew Tsai, Dave Unhjem, and Nicolas Horns took second place among more than 250 entries from students representing 43 universities across the globe. BY BRIDGET AYMAR Soon after Barr became involved, the company’s growth threatened to outpace its employees’ competencies. It was then that Freaker USA appointed Barr to president and COO. In his new role, he fortified the supply chain, managed risk, connected with large retailers, and performed other duties Crain and company were less than inclined to tackle. Grounded by the business foundation Barr brought to the start-up, Freaker USA has enjoyed tremendous growth. Since 2011, sales have grown four-fold annually. THE CARLSON SCHOOL ARCHIVES


CarlsonSchool_Spr_2014
To see the actual publication please follow the link above