The economy is, thankfully, recovering, and entrepreneurialism has played a large role in helping it along. One of the most interesting parts of this recovery, however, is the emergence of new types of industry. Businesses have found all new niches to fill, and seven industries in particular have shown substantial growth in 2013:
By Don Harris
From two hours to two years, customized education programs are being offered to boost the performance and expertise of executive-level employees — and as a result improve a company’s bottom line.
Often, businesses struggle with putting the right person in the right leadership position. Even then, there might be gaps between what the person knows and needs to know. Customized programs are designed to fill those gaps.
The focus of universities is on education, not necessarily training. There is even an executive education program that puts upper-level employees directly into community service through nonprofits as a way to help those in need and at the same time generate new skills and ideals that will benefit the employee’s own business.
Andy Atzert, assistant dean of the W. P. Carey School of Business at Arizona State University, and director of the school’s Business Center for Executive and Professional Development, says the center aids companies by expanding the knowledge and skills of managers and leaders, but doesn’t do tactical training, such as how to write a business plan.
The types of industries that utilize the center, Atzert says, include financial services, health care, technology, semiconductors, automotive, agribusiness, supply-chain services, information systems, and two major out-of-state oil companies.
“There is a demand outside Arizona for the expertise that we have,” Atzert says. “In fact, a majority of the companies are from out of state, and many of those are engaged in our online program.”
When Atzert says customized, he means customized.
“Some companies want a two-hour seminar, others want a customized MBA program that will take two years,” he says. “We deliver the program at company locations, at ASU or online.”
Because many companies have global work forces, the online option is getting increasingly popular. It’s more costly to send a person to an off-site location, not because of the travel expenses, but because of the time involved in being off the job, Atzert says.
Many of the courses offered focus on supply-chain management, which is a business discipline that has to do with how goods and services are bought and moved from one location to another.
For example, Toyota faces several supply-chain challenges in obtaining all the parts and materials needed to build an automobile. Atzert identifies questions the ASU program helps answer, such as what is needed, where does it come from, how do they buy it, how do they decide what to buy, how do they work with their designers, and what’s the best way to optimize their efforts and expenditures?
At the University of Phoenix, AZ LeaderForce is a program that pairs key business leaders with local nonprofits in a yearlong project to help improve the various organizations’ services and train those executives seeking leadership guidance.
Rodo Sofranac, University of Phoenix curriculum developer, says the program benefits businesses in a number of ways, including quality-of-life awareness, increasing leadership skills, and ethics.
“The issue is for participants in a project to take what they have learned and experienced back to their workplace and incorporate it in their personal life,” Sofranac says.
The University of Phoenix, which provides classroom facilities, produces a curriculum and donates its services for AZ LeaderForce, works with the Collaboration for a New Century, an organization formed about 10 years ago through the efforts of Phoenix Suns Chairman Jerry Colangelo. Topics covered include ethics, integrity, leadership, critical thinking skills and the social responsibility of business.
Steve Capobres, executive director of the Collaboration for a New Century, says the organization targets poverty issues and enlists the business community to work with human service agencies.
“At the same time,” Capobres says, “we have an executive leadership development program going on. We not only want their time, we want to mold them, cultivate them to become the next generation of business leaders. It’s a yearlong curriculum that takes them through the issues of what a good corporate citizen is. What does it mean to work in the community? What is your own leadership style, your ethics? It’s all about building good corporate leaders who are going to replace our older, retiring leaders.”
Among the corporate participants are Salt River Project, Bank of America, UBS Financial Services, State Farm Insurance, Lennar Homes and American Express.
“By taking people outside the world of business and putting them in the community to deal with the issue of poverty,” Capobres says, “those employees are going back to the company to be a better manager.”
AZ Business Magazine October 2008 | Previous: Big Money… | Next: At Your Service