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12 May/June 2014 BizEd WE LF AARON /TH I N KSTOCK (TAB LET); J U PITE R I MAG ES/TH I N KSTOCK (M E ETI NG) headlines C M Y CM MY CY CMY K McGuire Center_BizEd Ad FP 2014.Final.v.6.(RESIZE) OTL.pdf 1 3/18/14 3:05 PM Empowering Entrepreneurs In Emerging Economies FREE BUSINESS TRAINING has been provided to 100,000 women entrepreneurs in Peru through a pro- gram known as Proyecto Salta ("project leap"). The goal to reach 100,000 women was set when the ini- tiative was launched in 2010 by Thunderbird School of Global Management in Glendale, Arizona, and its partners: the Multilateral Investment Fund of the Inter- American Development Bank, Grupo ACP, Mibanco, and the Australian government through Australian Aid. Proyecto Salta delivered business concepts to its audience through a telenovela format—that is, a TV soap opera. The three episodes of "El Gran Salto," or "The Big Leap," followed the trials of various women entrepreneurs as they struggled to run their own busi- nesses. As the stars navigated business obstacles, view- ers learned essential information about accounting, marketing, and balancing their books. Thunderbird professor Christine Pear- son helped create the pro- gram's educational frame- work and materials, which were then developed into the telenovela. The training was deliv- ered to about 200 women at a time through semi- nars in cities throughout Peru; it was augmented with one-on-one mentor- ing, access to microloans, and other educational resources. Thunderbird MBA students provided more than 4,000 hours of one- on-one or small-group mentoring to 591 women. A December 2013 study by Peruvian company SASE Consultores found that 75 percent of the women sur- veyed after receiving Proyecto Salta mentorship were able to better analyze their businesses. In addition, more than 30 percent reported an increase in sales, and 24 percent had reduced their costs since implementing the suggested changes in their businesses. Watch the second episode of "El Gran Salto" at www.youtube.com/watch?v=w2DzHTHJ40Y. One Key to Success? Hiring the Right Staff THE TOP MANAGEMENT of a new or growing company must hire qualified employees and allow them to do their jobs so the CEO can devote all efforts toward keeping the business on track. That was one of the key takeaways at CEO Evolution, a panel discussion sponsored in January by the University of Connecticut School of Business in Storrs and held at UConn Stamford. Four roundtable panelists, all Connecticut CEOs, discussed the challenges they've faced while leading their businesses through tremendous growth. Speaking at the event were Linda McMa- hon, co-founder and former CEO of World Wres- tling Entertainment; Austin McChord, founder and CEO of data solutions company Datto; Paul Senecal, partner of facilities contractor United Services of America; and John Votto, president and CEO of the Hospital for Special Care. All four emphasized the importance of work- force management, including assembling the right talent, influencing the talent, communicat- ing with and enabling employees, and creating accountability for workers. They also observed that empowering employees to contribute to the growth of the business is a way to instill commit- ment to the company and clients—key ingredients in expanding operations. Panel moderator Mark Fagan of accounting firm Citrin Cooperman noted that CEOs should focus their attention on strategic activities versus tactical ones, adding that the success of a company depends greatly on a CEO's understanding of the business, anticipation of changes, and strategic thinking.