Category: Student Spotlight

Tech students report on ‘market leakage’

Market leakage is a growing issue for Copper Country retailers, particularly online.

That was one of the takeaways at a presentation by Michigan Technological University students at the Keweenaw Economic Development Alliance meeting Wednesday. This is the second year School of Business and Economics Assistant Professor of Marketing Jun Min’s students have done the study, for which they received 71 responses.

In 13 product categories, this year’s study showed increasing market leakage in nine of them, including a 33 percent jump in electronics and office materials and 14 percent in cars. The four areas with stable and decreasing trends were household essentials, personal care products, groceries and medicine and drug.

Different areas benefitted the most from various areas of leakage. Online led for areas such as toys, clothing and telecommunications devices, while Marquette led in areas such as home improvement and outdoor living. The only area in which Green Bay absorbed the greatest market share was in automobiles, with 18.2 percent of respondents saying they had purchased a car in Green Bay.

It was a different story in services, where only four categories went up – rentals, real estate, household improvement and health/medical/dental. The largest decrease in leakage was 12 percent in airline and vacation services.

The bulk of the leakage was online, particularly in airline and vacation services, rental cars and education. Marquette’s strongest categories were restaurants and health/medical/dental. Green Bay again led in only one category: entertainment, museum and shows.

The local market trended downward in the Business Market Wellness index, which measures market attractiveness, satisfaction and recommendation.

The local market scored 3.35 out of 5, where 3 is neutral – behind online, as was the case last year, and also now behind Marquette and Green Bay. The weakest score was in market satisfaction, where the local market scored 3.06.

“That means people are attracted to our market, they like it, but they’re not satisfied,” said Tech student Cory Rokes. “This is something we want to rectify.”

Projections of future spending shows most to stay about the same, but with an edge toward online; 24 percent said they planned to spend more online in the next six months, more than twice the next highest total.

The group also conducted a separate leakage study for the Houghton County Memorial Airport. Of those surveyed, only four in 10 had used in the airport in the past year.

“The problem isn’t the market leakage, it’s promoting the airport,” said Tech student Sarah Ochs.

By GARRETT NEESE – DMG writer (gneese@mininggazette.com) , The Daily Mining Gazette

Business Intelligence Students Partner with Revenue Management Solutions

Students in Michigan Tech’s Business Intelligence class (MIS3400) spent less time hitting the books this semester and more time focused on an innovative, real-world project that was the result of an industry partnership with Revenue Management Solutions (RMS) headquartered in Tampa, Florida. In this upper-level class, the skills learned in previous courses were put to the test as five teams of students were provided access to a warehouse of test data from a simulated Michigan client. The assignment was to create meaningful business information from the mountain of data, and to formulate strategic recommendations for the coming fiscal year. And, creativity was a required element.

Before the project began, students chose critical roles within their teams – e.g. Consultant, Analyst, and/or Developer. During the final class session of the semester, the teams presented their prototypes and recommendations in person to the client liaison/RMS representative. Following the team presentations Ashley Johnson encouraged the students to seek out internships if they enjoyed the work performed in the class. She also commended the groups for communicating openly with her as a client throughout this scenario.

“You have done great work here,” said Ashley. “As you move forward in your careers, remember to add this to your resume, that you have created a data warehouse and are comfortable analyzing big data sets. This is exactly the type of work I would expect to see in my office,” said Ashley Johnson, Data Analytics Manager with RMS.

The student teams were told to approach the project as if the transactional data were collected from an actual client’s business enterprise. The two years’ worth of data were used to analyze performance in relation to the competition, item profitability, top product-drivers, etc. The expectation was that students learn database software skills including data extract/transform/load (ETL) using the SQL Server suite of applications, as well as Microsoft Visual Studio, Excel,  Access, and other Windows 7 software for completing the final proposal. This activity provided experiential learning that mirrors the work performed by IS/IT professionals in industry today. Lessons learned will be incorporated in the next course offering as we strive for continuous improvement of our innovative MIS curriculum.

Economics Major Elected USG President

Eli A. Karttunen, USG president, a senior in economics.

New members have been elected to the Executive Board of Undergraduate Student Government (USG)  for one-year appointments.  The School of Business and Economics is proud to announce that one of our own, Economics major Eli Karttuenen, has been elected to serve as president.

2012 USG members and Titles:

* Eli A. Karttunen, president, a senior in economics

* Donnie L. Palmer, vice president, a junior in chemical engineering

* Jennifer M. Zarzecki, secretary, a senior in mechanical engineering

* Abhishek Gupta, treasurer, a senior in civil engineering

As a member of the USG for the past 2 years, Eli has seen many ways in which USG could improve student life on campus by making student’s opinions heard, which is a big reason why he chose to run for president. USG is supposed to be the collective voice of students on campus.  Eli hopes improve the current relationship between students, USG, and the administration during his time as president.

When we asked Eli about his goals as president, he responded “My first priority is to improve the relationship between USG and the students. An organization only has as much influence as its constituents afford, and this is one area USG has been lacking. I know how this organization works and what students need.”

We wish Eli and the rest of the Undergraduate Student Government the best of luck in attaining and surpassing their goals during their appointments!

Michigan Tech Takes Second in Project Management Competition

On April 9th, two, four-person Michigan Tech teams traveled to Grand Rapids, Michigan for A Project Management Collegiate Competition presented by The Project Management Institute, Western Michigan Chapter. Out of eight teams, Michigan Tech placed second, ousted only by Grand Valley State University for the top position. Other competitors from Aquinas College, Kalamazoo College, Davenport University, and University of Phoenix were also in attendance. The day was devoted to presentations, networking, and sharing knowledge about the future of project management.

“Our teams have been preparing over the past two semesters to present project management plans at the competition,” said Professor of Operations and Supply Chain Management Dana Johnson. “Being able to use the skills and tools that students learned in class will help them prepare for their future careers.”

The student teams, along with their school, business, and PMP mentors, had to create a project management plan for a business seeking B Corporation certification. B Corps permits and protects businesses in making social and environmental decisions. Instead of being accountable only to shareholders, B Corps businesses must also consider their impact on employees, their community, and the environment.

Team A: Dani Revord, Drew Randall, Emily Jensen, and Sarah Zimmerman. This team was mentored by Ashley Livingston, PMP and Andrew Gill, PMP.

Michigan Tech’s Team A was composed of Davi Revord, Emily Jensen, Drew Randall, and Sarah Zimmerman. The A Team was mentored by Ashley Livingston, PMP and Andrew Gill, PMP. Team B was made up of Jane Koivisto, George Olszewski, Ashleigh Juday, and Samuel Eberhard and mentored by Jeff Hazy, MBA, PMP and Derek Mazurek, MBA, PMP.

“This was a wonderful experience for all of us, and we were very fortunate to place in the competition, meet our mentors, and socialize with the WMPMI board,” said Samuel Eberhard of Team B. “All of us are extremely happy we had the opportunity to compete in this competition , and we hope future Michigan Tech students take part in it.”

Team B: Samuel Eberhard, Jane Koivisto, Ashleigh Juday, and George Olszewski, Team B was mentored by Jeff Hazy, MBA, PMP and Derek Mazurek, MBA, PMP.

The event is the first collaboration between Western Michigan Project Management Institute (WMPMI), Universities, and West Michigan Business Leaders.

This trip was supported by the Michigan Tech Parents Fund and the Western Michigan Chapter of the Project Management Institute.

Students Hit the Jackpot in Venture Competition, $40K with Two Awards; Third Place Brings Home $5K

Ben Mitchell works with a villager while a new tube is pictured in the background.

April 2, 2012—

Michigan Technological University students placed first and third in the New Venture Competition held recently on the campus of Central Michigan University. The first place team also was named Best Social Venture.

Ben Mitchell and Wade Aitken-Palmer won for creating better bicycle components for rural Africans who depend on their bicycles for their livelihood. Their idea, called Baisikeli Ugunduzi (Swahili for “modern bicycle”), captured a $30,000 first prize and another $10,000 for Best Social Venture, for its sustainability and social impact, among other criteria. The invention is a tube that eliminates flat tires.

Mitchell, a PhD student in mechanical engineering, and Aitken-Palmer, a student in the Peace Corps Master’s International program, have been working on the business idea since last year. Mitchell said the inspiration began with his stint in the Peace Corps a couple of years before that.

Thanks to the big win, he is planning a trip to Kenya in May to begin with more market testing.

“We are working with bicycle taxi drivers, who can go through many tubes in a month,” Mitchell said. “The tubes will have to be produced in Taiwan, as there are no production facilities in Kenya.”

Assembling will take place in Africa, however, and that will create some jobs.

“Our first hire will be a mechanic,” he said. “And he could do some modifications as well.”

Phil Musser, executive director of the Keweenaw Economic Development Alliance and mentor to the winning team, was not surprised at their success.

“It was clear from the beginning that they were serious about this business,” he said. “It was just a matter of them following through with organizational details and financial projections. It was a pleasure to work with them. Their work will have a serious social impact,” Musser added.

Jim Baker, executive director of innovation and industry engagement for Michigan Tech, was the key liaison between Central and Tech.

“I stepped in when Bob Mark passed away,” Baker said, referring to the late professor of practice who started the collaboration with Central. “John Leinonen (program director of the Michigan Tech Enterprise Corporation SmartZone) and student Travis Beaulieau were instrumental in keeping the teams moving forward and better prepared for the competition.”

Mitchell said, thanks to the all the help and the win, Baisikeli Ugunduzi has secured additional local funding assistance too.

When they began, Mitchell said, he had some catching up to do on the business side of things, but they did have a more thought-out design and a more developed prototype than most, thanks to their engineering backgrounds.

He has high hopes for the future.

“Some 50 million sub-Saharan Africans depend on bicycles,” he said. “As our mission statement says, we work with mechanics and bicycle taxi unions to design, produce and distribute products that add value to working bicycles and improve the livelihoods of bicycle taxi drivers, messengers and others who earn a living on their bicycles.”

Musser said it was a great experience for the six Michigan Tech teams who traveled to Mt. Pleasant and advanced past the first round. Teams actually began their work on projects in August and met weekly since then. On the Tech campus, Elevator Pitch Competition and New Business Venture Competitions helped prepare them for Mt. Pleasant. A total of thirty teams squared off at Central Michigan University.

Mitchell also praised Central Michigan for hosting the event.

“They did a tremendous job coordinating the whole event, with all the judges and student teams,” he said. “It was very well orchestrated.”

Central has also invited Baisikeli Ugunduzi back to talk about how it all develops in the future.

The New Venture Competition is a joint Central Michigan/Michigan Tech event. Locally, the competition is sponsored by the MTEC SmartZone, the Keweenaw Economic Development Alliance, and the School of Business and Economics.

Runner-up in the finals at Central Michigan was MVMT Media Products, an entry of Central Michigan students Sean Armstrong and Jeff Wegner. Their business would manage high-quality online video content. They took home $10,000.

Winning third place and $5,000 was Picket Books, the brainchild of Michigan Tech students Kyle Johnston, a biomedical engineering major, and David Shull, who is studying computer engineering. In their business, students rent textbooks from each other online, streamlining the process and reducing the costs.

“The prize money will be re-invested in the Houghton area,” Shull said. “We are hoping to find students to be a part of a startup to assist in our development work over the summer. We are looking to launch Picket Books by spring 2013.”

Shull talked about the overall experience.

“Over the weekend, I began to realize what makes Michigan Tech so special,” he said. “Most of our CMU competitors were majors in entrepreneurship or business, while many of the students competing for Tech were engineers or majors other than business. I think Tech’s emphasis on entrepreneurship while educating a generation of engineers proves Tech students can build businesses that will lead the world in innovation and creativity. The investment in competitions like this one are creating Tech’s future in the world of business, one student at a time.”

The prizes were awarded by Michigan’s Lieutenant Governor Brian Calley.

Michigan Technological University (www.mtu.edu) is a leading public research university developing new technologies and preparing students to create the future for a prosperous and sustainable world. Michigan Tech offers more than 130 undergraduate and graduate degree programs in engineering; forest resources; computing; technology; business; economics; natural, physical and environmental sciences; arts; humanities; and social sciences.