2021 Annual Report: Ed Snider Center for Enterprise and Markets : simplebooklet.com

A MESSAGE FROM OUR EXECUTIVE DIRECTOR Our reprioritization efforts have led to a thoughtful and intentional restructuring of our Center Here we were aided by the 5 year external review which has been very positive We are thankful to the external review committee members for noting our many accomplishments and also for providing valuable suggestions on how we could become a leaner and more inspired organization and promote our mission more efficiently and effectively Looking forward we are excited to build on these strengths and successes in the coming year as we open our doors and classrooms to greet each other in person once again We are bringing back our live debate and discourse events These are critical to provide our engaged audiences with important alternative perspectives on issues that impact business economies and society We believe that promoting the principles of free enterprise and collaborative relationships and trade through markets is more important now than ever and we hope you will join us and be a part of the discussion We also look forward to the expansion of our Intentional Life Lab which you can read about later in this report We are eager to build upon the Lab s unique curriculum by offering a series of courses designed Disrupted is a word that is often used to describe life during COVID Our businesses our family life for impact across all majors within the University of Maryland our future plans And while disrupted or disruption sometimes has a negative connotation it also forces one to pause and reflect often leading to innovation We have witnessed inspirational While the challenges we face due to the pandemic and its socio economic consequences may not be stories in all walks of life as individuals and organizations stepped up to adapt to the health and over we will continue to support and inspire each other through positive action and our mutually bene economic disruptions during these trying times Pioneering innovations have ranged from the ficial relationships creation of small but critical conveniences of home delivery and telehealth visits to the incredible speed and efficacy of the creation of a vaccine that enabled us to return to some sense of normal I am really proud of the faculty staff and students affiliated with The Ed Snider Center It is an honor to cy All together a true hymn to human enterprise work with each of the individuals who have demonstrated an entrepreneurial mindset that has enabled us to learn grow and thrive Together we also extend a heartfelt thank you to our donors partners and Here at the Ed Snider Center we have matched this spirit to reflect adapt and innovate These are other supporters It is you that make it possible for us to continue to promote the spirit of freedom and the same skills we teach our students It has enabled us to continue to deliver on our mission in a enterprise thoughtful purposeful way Please continue to engage with us through our website and newsletters for updates on our most recent Our research productivity is at an all time high Faculty affiliated with The Ed Snider Center have activities We hope you are as excited as we are about all that we have accomplished at The Ed Snider examined how private enterprise solves social grand challenges historically and today Other re Center in 2021 and we look forward to seeing you in person again search utilized rigorous analysis of microdata to provide cautionary warnings that large scale government investment does not deliver effectively on lofty goals and instead increases opportunities for cronyism Sincerely Our teaching efforts have leveraged online platforms and hybrid learning environments to provide lifelong learners with knowledge to lead productive and purposeful lives These span the gamut to include the now college credit bearing summer course for high school students the Intentional Life Lab s courses and co curricular experiences and our educational offerings for executives Rajshree Agarwal PHD Our engagement efforts have built on the cutting edge research and teaching programs To do so Rudolph P Lamone Chair and Ed Snider Center Executive Director we have developed a multi media library of content in the form of engaging videos and topical opeds that translate insights for practice and policy 2021 Annual Report 3 2021 Annual Report 4

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Supporter Spotlight John Allison Thanks for talking with us John Do you mind starting by just telling us a little bit about your background I was raised in Charlotte North Carolina in a low to moderate income family My dad worked for the telephone company I was fortunate to be able to go to the University of North Carolina Chapel Hill where I majored in business administration I expected to pursue a law degree after college but I graduated in January and law school starts in the fall and I needed money in the interim I got a job at a little farm bank in Eastern North Carolina called BB T When I got into business I realized I was going to enjoy it more than the legal environment I saw what lawyers did At the bank I was fortunate to get involved with a couple of other young people that created a good quality training program that became essential for the bank s progress and subsequently I went into the lending business I started out as a farm lender financing corn soybeans wheat and livestock chickens turkeys hogs and dairy operations It was a great learning experience It will humble you trying to raise soybeans It was a challenge but it was a great learning experience After about 10 years I got promoted to head 2021 Annual Report 2021 Annual Report

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SPOTLIGHT INTERVIEW the banking division My predecessor passed away from a heart attack at a sadly early age and I became CEO of BB T When I became CEO the bank was worth about 4 5 billion in assets I was CEO for 20 years and we were able to grow it to 150 billion in assets to become the 10th largest financial institution in the United States When we started I think most analysts would have said that it was impossible It was a great time of mergers in the banking business There were lots of mergers and people expected us to get acquired but we didn t We did the mergers We acquired lots of companies We ve acquired 150 companies during my career And not only did BB T grow in size it was in the top 5 of banks in terms of financial performance Things like return on equity and return on assets which meant our stock price outperformed almost all of our peers which was good because you want to make your shareholders happy One thing we did at BB T was we decided and part of this was based on my study of philosophy and ethics that what we really wanted to do was sponsor programs that looked at the issue of the moral foundations of capitalism We asked the question is capitalism an ethical system We came to the determination that not only is capitalism successful but it is also ethical And the fundamental reason that it is successful is because it is an ethical system It s the only system consistent with man s nature as an independent thinking being who must pursue his own rational self interest After being CEO for 20 years at BB T I retired and ended up running CATO which is the world s leading libertarian think tank And I really enjoyed that That was a very interesting experience And now I m teaching in the graduate business school at Wake Forest University Why did you become involved with the Ed Snider Center When BB T was creating programs on various university campuses we created one at the University of Maryland I got involved in that program and the university was very fortunate to attract Rajshree Agarwal to the business school at Maryland She was able to attract Ed Snider who is a leading Objectivist thinker and also a very successful businessman By making a substantial contribution to the center it became The Ed Snider Center for Enterprise and Markets with Rajshree Agarwal at the helm Dr Agarwal is a true intellectual and a deep thinker She asked me to join the board which I was honored to do It was an honor to work with her and her team and work on a moral defense of capitalism 2021 Annual Report 7 SPOTLIGHT INTERVIEW From the cutting edge research to the renowned faculty the Center has a very thoughtful perspective and deep understanding of why the free market enterprise system is so consistent with man s nature as an independent thinking being I believe that there s a fundamental fight going on and for the future of our country and maybe the future of the world On one side there are those who believe that the government has all the answers They are quite willing to tell you what those answers are On the other side are those of us that believe that individual rights and the free markets are the answer that each of us has a right to life liberty and the pursuit of happiness We are in my view at the Ed Snider Center certainly defenders of the principles that made America great and as expressed in the Declaration of Independence And this is not a trivial fight because this is about the future of the world Progressive ideas have failed often and everywhere They sound good because they offer people a free ride and a free guarantee but that is not the way nature works You have to be productive and innovative and that requires freedom We are defenders of the free enterprise system which is absolutely part and essential to a free society I can t think of any more important work Why should individuals consider donating to the center I like everything The Ed Snider Center does I m interested in the work it does on self development and on self awareness in both The Intentional Life Lab and the SELF program 2021 Annual Report 8 I m also very interested in the work it does in an academic sense of what I call a credible defense of free markets and the free enterprise system Part of the battle for a free enterprise system truly is in academia and the quality of the academic work at the Ed Snider Center is superior From the cutting edge research to the renowned faculty the center has a very thoughtful perspective and deep understanding of why the free market enterprise system is so consistent with man s nature as an independent thinking being It comes from a very thoughtful perspective but with a deep understanding of why the free enterprise system is so consistent with man s nature as an independent thinking being I ll be honest I work with several universities and most of them are dominated by people that don t believe in the free enterprise system and those of us that do believe in it don t speak up enough and defend it As a result I think the consequences for our society both our economic well being and even more important what I call spiritual happiness are very negative The Ed Snider Center has become a beacon of light in a world that will become darker if we do not defend an individual s rights to their own life

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PROGRAM UPDATES I ve increased my self awareness financial literacy teamwork and communication skills I also improved my presentation skills Student SELF 2021 SELF and grow in knowledge of both business and themselves From 2015 2019 SELF served high school ju 2021 Pitch Competition Winner Rent Space niors and seniors first as a one week then as a two dents cultivate entrepreneurial and leadership skills pitched at the conclusion of the course Final pitch The Snider Enterprise and Leadership Fellows week residential summer program With the onset that empower self satisfaction and advancement ideas included SocialPreneur a website that allows SELF program is a residential summer program of the pandemic SELF successfully transitioned to This intensive course allows students to go through young business students to connect with one an that empowers rising high school juniors and a two week virtual program in 2020 Most recently the process of creating a new business venture in other and mentors to make their ideas and future seniors to become the CEO of My Enterprise ME in collaboration with the Terp Young Scholars TYS a highly collaborative group setting while simul businesses the best they can be Fusion a company Inc Young adults explore the power of individual program at the University of Maryland in July of taneously exploring their individual creativity and dedicated to creating a greener planet through creativity and free markets to deliver solutions 2021 the SELF program expanded to a three week empowering themselves to become the CEO of ME gas to electric car conversion RentSpace an app to problems in the world that they are passionate virtual credit bearing course Enterprise Leader My Enterprise Inc The students are challenged designed with landlords and tenant communication about solving and develop a personal leadership ship and Markets to identify their values abilities and aspirations at the forefront Solar Skimmer a smart solar pow while defining and developing their mission strate ered skimmer that removes the green from your Since the beginning students enrolled in the SELF gy value proposition personal leadership plan and pool while being green for the environment Cloud program have been guided to think introspectively personal elevator pitch Consolidated a subscription based service that plan They work in teams and engage with leading faculty and business executives The SELF program has undergone many changes ultimately leading them to a renewed viewpoint of since its inception in 2015 yet it remains an invalu their personal life goals SELF has always sought to Student teams in the 2021 cohort ultimately ing power to meet specific clients needs and Solar able opportunity for high school students to learn introduce the value of business in society as stu created six remarkable startup projects that were Gridz the better looking customizable solar panel provides easily accessible and affordable process Meet The SELF Faculty Staff Dr R ajshree Agarwal Dr Joseph Bailey Prof Tricia Homer Design Thinking Pitch Formation and Lean Canvas Presentation Skills Story of Me and Elevator Pitches Dr Robert Sheehan Dr Evan Starr Dr Protiti Dastidar Prof S arah Wolek Business Ethics Market Based Economics Strategy Personal Finance Dr Pamela Armstrong Prof Jacqueline Manger Dr Judy Frels C aitlin Stiffler Reframing and Communication Managing Director Ed Snider Center Lean Startup Lean Canvas and Pitching Marketing Student Programs Coordinator Ed Snider Center Fostering Enterprise and Personal Leadership 2021 Annual Report 9 Prof Christine Masterson Schaaf 2021 Annual Report 10

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PROGRAM UPDATES PROGRAM UPDATES with visualization through their pre purchase app mindset throughout the course SocialPreneur is These pitches were the culmination of many weeks designed to connect young entrepreneurs to poten of hard work dedication and collaboration between tial collaborators and mentors in a new and inter team members One student explained The SELF esting way In an interview after the course Jordan program had a fantastic impact on me It allowed me explained how he and his teammates came up with SURE 9 The 2020 2021 cohort of Snider Undergrad Research Experience SURE fellows came from to gain experience with a wonderful team to build this idea He explains we noticed a problem of how a variety of disciplines across the University of business ideas that could legitimately be made into most young people didn t have the connections and Maryland College Park campus and successfully a real business I also had a great experience look guidance to kind of make successful businesses so completed their independent research projects ing inwards at my strengths and goals to develop a basically we want to provide them with those tools We are pleased to have had many of our fellows plan for myself in the future in a kind of mentoring website using this research program as a tool to gain a 32 students successfully completed the course As a rising senior at Thomas Wootton High School These students were asked to rank various skills on in Rockville Maryland Jordan is looking towards his a scale of one to ten based on their level of comfort future and finding opportunities to better himself with them On average the students ranked their and connect with others Jordan explained that his comfort level one point higher in each of the fol motivation for enrolling in SELF was two fold I per and presented their findings via the virtual lowing areas from their pre assessments to their wanted to do a business program or a business re SURE Poster Presentations on April 23 2021 in post assessments self confidence creativity deci lated program over the summer and chose the front of their peers mentors and many Ed Snid sion making solving problems with no clear solu course through the University of Maryland website er Center affiliates In the words of the student tion emotional intelligence organization planning I applied because I wanted to learn more about co directors the SURE 2020 2021 cohort epit initiative drive financial comprehension teamwork business and also network with people However cooperation leading others verbal communication upon completion of the program Jordan found that and presentation skills he took away much more than he initially thought Students Completed the Program 25 deeper knowledge of business and more specifi he would In fact the biggest takeaway for Jordan cally enterprise and markets Under the guidance Applicants of Faculty Champions experts in the associated fields the fellows each completed a research pa omizes the future of research that in the face of challenging circumstances innovation and inquiry will always prevail Topics from the 2020 2021 cohort include Impact of Smartphone Penetration Rates on Fintech Adoption in Emerging Markets Bid Ask Spreads Around M A Announcement Movie Theatres Outlook in the Face of COVID 19 and Rapid Modernization COVID 19 Contact Tracing Applications Com We look forward to welcoming our next cohort of was that it is never too early to define your personal parative Analysis of Legislative Frameworks for SELF fellows onto campus in the summer of 2022 mission statement He stated I thought I needed Privacy Protection and Lessons Learned when we return to an in person residential expe to have more experience to know what I wanted to rience again in partnership with TYS Registration do and who I wanted to help but after we did all the opens in Spring of 2022 different assignments I was able to create a mission statement I could keep track of and also resonate Jordan Smith SELF 2021 Student with Idea creator for SocialPreneur a Moving forward armed with the knowledge he website based network designed gained from the course Jordan hopes to launch to connect young entrepre his own tech startup that solves a problem revolv neurs to potential collaborators ing around AI and robotics and he plans to keep Jordan Smith exemplified the in contact with those he met in the program to SELF entrepreneurial spirit and work on future business ideas 2021 Annual Report 11 We are proud to share the SURE 2020 2021 Research Journal The 2020 2021 cohort of SURE fellows presented their independent research projects virtually in April 2021 Annual Report 12

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PROGRAM UPDATES Ed Snider Center Leadership Award The Third Annual Ed Snider Center Leadership Award recognized three winners and one grand prize winner on April 30 Thank you to our wonderful 2021 Judges ceived her MBA from the The Enterprise through Literature ETL program The Ed Snider Center is excited to announce a re Dr Dastidar is the Associ Robert H Smith School of intellectually stimulates and empowers high school turn of our ETL program this fall The Ed Snider Cen ate Clinical Professor and Business an Associate Area Chair in the following areas 1 helping an organization meet its goals at the Robert H Smith School of Business at the University of Maryland the future through their work in the community 3 championing She also serves as a goal oriented collaboration and created positive outcomes for Research Fellow at the Ed all members of a team and 4 embodying integrity and exhibited an entrepreneurial growth mindset Enterprise Through Literature Protiti Dastidar Ph D 2021 Winners were selected based on their accomplishments for growth and change 2 demonstrating an optimistic vision of PROGRAM UPDATES Snider Center David Mitchell Mitchell is a Market Ex students by intro ter plans to host ducing our 2021 cohort them to the guiding ethical this an alumni of the Univer philosophies found the University of sty of Maryland where he in literature that Maryland campus underpin Educators ecutive with Synovus and earned his Bachelors in Economics Frank Goertner enter October on create prise and markets classroom ready Through materials Goertner a retired Naval Greg Rafal Officer is the Director of Rafal is the Executive Each winner embodied the above criteria for the Ed Snider Cen Military Veteran Affairs Director for the Center shops and on line make ter Leadership Award COVID has created a renewed focus on National Security Pro for Global Business at the courses approved dystopian themes grams at Maryland Smith Robert H Smith School of Business for continuing ed relevant He earned his MA in ucation credit by life the University of learn to use litera Professor of History at Maryland ture to explain the the University of Mary works with English teachers to develop curricula relationship between the individual and the state that highlights the principles of enterprise and the and to emphasize the value of creating win win rela role of the individual in society tionships both personally and professionally public and mental health issues and each of this year s winners showed determination and achievement in creating innovative solutions for multiple facets of societal challenges Veeraj Shah was awarded the grand prize and Kevin Tu Tesia Shi and Sanketh Andhavarapu were our three other winners The Ed Snider Center is inspired by our winners drive and determination to ease access to health services educate consumers about these services and demystify the process We are proud to have been International Relations from UMD and his MBA from the Robert H Smith School of Business land and an Ed Snider Horick is the Assistant Center Research Fellow Dean of Undergraduate Programs at Maryland Smith He also earned his MBA from the year s Ed Snider Center Leadership Award winners and their Robert H Smith School of community Raianu is an Assistant Brian Horick able to recognize the positive and impactful leadership of this work that is crucial to the ongoing success of the university Mircea Raianu Business Manger is the Managing Director of the Ed Snider Center and teaches Entrepreneurship in the EMBA program at Maryland Smith She also re ETL powerful to an advisor to a variety of businesses A former partner at Grossberg The ETL course has inspired me both individually and professional his BS in Accounting from the University of Maryland ly to expand my horizons on teaching English in new ways making the content more relevant in a philosophical and entrepreneurial sense I found the course helpful in challenging my own personal growth and in meeting students needs in ways that went beyond Teacher Miami FL 2021 Ed Snider Center Student Leadership Award Recipients and Runners up virtual recognition ceremony 2021 Annual Report 14 real Participants Rosenblum is currently dystopian fiction 2021 Annual Report 13 that Lawrence Rosenblum Company LLP he earned Jacqueline Manger work

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PROGRAM UPDATES PROGRAM UPDATES Lastly for graduate learners The Lab is participating in an Executive MBA EMBA workgroup to enhance purposeful self exploration and self creation The committee is aiming to enhance the student experience for the incoming 2022 EMBA cohort by first mapping the amazing existing course content and mastery sessions across the program for an integrated focus on personal and purposeful leadership and second by guiding the students to create a portfolio of their work across this journey In the next academic year we expect to launch a new course on the Intentional Leader and actively explore on cam The Intentional Life Lab s mission is to support the life long learner in their efforts to create and lead purposeful authentic lives We made tremendous progress this academic year in realizing our mission for high school undergraduate and graduate students to enable their growth mindset and focus on life long learning pus partnerships to support scaling of all Lab courses The Intentional Life Lab s mission is to support the For undergraduate learners we continued formaliz life long learner in their efforts to create and lead ing the curriculum this spring with the faculty ap purposeful authentic lives We made tremendous proved course The Intentional Self as a three credit progress this year in realizing our mission for high elective within the Management and Organizations school undergraduate and graduate students to Department We also launched the course Careers in enable their growth mindset and focus on life long Impact within the Politics Philosophy and Economics Program in the learning College of Arts and For our highschool Humanities ers our Snider En were 25 students in terprise and Leader the initial course and ship Fellows SELF student experience now the course was an ex impressive 3 9 out of a is three credit There rating for perience as part of 4 University of Mary Choosing your Major land s summer Terp and Career with 14 Young Scholars TYS incoming program Finally we delivered The only the business and man We also piloted first freshmen Maryland agement course in TYS SELF is part of Maryland s Smith Transfer Experience with about 80 incom curriculum offerings to highschoolers interested in ing undergraduate students and trained supporting taking college level courses during their summer coaches and mentors 2021 Annual Report 15 2021 Annual Report 16

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PROGRAM UPDATES RESEARCH UPDATES The Ed Snider Center s research seeks to explore the roles individuals organizations and systems play in creating an environment that supports enterprise and well functioning markets Through our engagement with more than 25 affiliated researchers we draw on academic excellence from across the University of Maryland and beyond This allows us access to the best thinking in business and related disciplines including anthropology economics history philosophy and political science Our affiliated scholars continue to meet monthly in the Snider Research Conversations series curated by Research Director Serguey Braguinsky while the number PODCAST of active sponsored grant projects at the Center continues to grow The Inc Tank podcast hosts Christina Elson and David Yang interview entrepreneurs policymakers and researchers on the front lines of disrupted industries The Inc Tank is a podcast produced in partnership The Inc Tank s latest episodes include topics such with The Ed Snider Center and Center for the Study as Weather Forecasting to Offset Financial Risk of Capitalism at Wake Forest University Hosts Fundraising with Cryptocurrencies Rethinking and Christina Elson and David Yang provide a platform Rebuilding Healthcare Ecosystems the emerging for entrepreneurs and thought leaders to discuss space ecosystem and more The Inc Tank continues the impact of leading edge technology on business to be a major part of the Ed Snider Center s initiative and society Elson an anthropologist and business to educate both current and future thought leaders strategist together with Yang an expert at cut by arming them with information about market dis ting edge digital transformation initiatives have ruption and the show continues to attract a larger fascinating and informative conversations with audience both on and off of the University campus O ur cutting edge research spans four key areas Human Enterprise Innovation entrepreneurship and leadership their guests about technologies that could transform existing revenue models and unlock fierce competition in the marketplace 36 2021 Annual Report 17 Market Supporting Institutions Regulation formal and informal institutions enabling preventing the functioning of free markets and competition EPISODES Evolution of Capitalism Industry evolution technological progress innovation and education 2021 Annual Report 18

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LATEST RESEARCH ACTIVITIES LATEST RESEARCH ACTIVITIES The Markets and Management Network Research Highlight Consortium for Innovation in PostHarvest Loss and Food Waste Reduction management scholars from across the U S and the Ed Snider Center research affiliates Rajshree The SUGECO Agrifood Entrepreneurship Ini world to discuss critical issues regarding freedom at Agarwal John Haltiwanger and Vojislav Max tiative has garnered the interest of over 200 the intersection of markets and management with Maksimovic are among 18 researchers from applicants eager to participate in our ground implications for how individuals organize and trade Maryland named in the top 2 of the most cit breaking entrepreneurship training program with each other under different politico economic ed scholars and scientists worldwide The The initiative began its implementation phase systems Today the Markets and Management net study published in the journal PLoS Biology when the training began in late summer Our work is a robust group of more than 80 dedicated ranks researchers for their career long impact partnership with the Consortium for Innova scholars meeting monthly to engage in discourse based on citations of their work within 22 sci tion in Post Harvest Loss and Food Waste Re and discussion on a variety of research topics entific fields and 176 subfields The Center s duction continues with the monthly webinar affiliated researchers consist of distinguished series The most recent webinar on June 24th In addition to presenting their own research senior academics from across the University of Mary featured distinguished scholars from Wagenin scholars lead and facilitate communities of learn land and worldwide who seek to understand gen University in the Netherlands speaking on ing among junior scholars so they can provide con and explain how enterprise and markets create Efficient Food Loss and Waste Protocols Intro structive feedback and guidance value and progress for society ducing the Final Phases Since its inception in 2017 the Markets and Management Network has brought together leading Virtual seminars include such topics as Machine Learning Has a Flaw It s Gullible In research Maryland Smith s Spontaneous orders entrepreneurship and the Rajshree Agarwal and Evan Starr creation of markets in comparative perspective along with Harvard s Prithwiraj Dynamic capabilities at the governmental level Choudhury explore the potential biases that Civil liberties in the time of national limit the effectiveness of Machine Learning ML emergencies process technologies and the scope for human Privacy and civil liberties in a data driven world capital to be complementary in reducing such Entrepreneurial responses and hurdles in the biases Prior research in so called adversarial response to pandemic crises and national ML looked closely at attempts to trick ML technologies and generally concluded that it s extremely challenging to prepare the ML technology to account for every possible input and manipulation In other words ML is trickable 2021 Annual Report 19 2021 Annual Report 20 Research Highlight Research work by Dr Rajshree Agarwal Seojin Kim and Mahka Moeen focused on Leveraging Private Enterprise Incubation of New Industries to Address the Public Sector s Mission oriented Grand Challenges Forthcoming in Strategy Science the research examines six public sector grand challenges and identifies success factors associated with creating market mechanisms and leveraging private enterprise

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Q A Q A A look back a look ahead Dr Rajshree Agarwal Executive Director Jacqueline Manger Managing Director It s been a challenging couple of years for demonstrated that we are a resilient population all of us as both individuals and society as building off of our innovative and entrepreneurial a whole How has it shaped you and how spirit The Snider Center has had to face its own has it shaped the Ed Snider Center s work challenges but the Center represents just a micro and research cosm of that global resiliency drive to both create a groundbreaking new vaccine a particular solution to a problem Kim myself and Mahka Moeen looked at this no In other research PhD student Drew Smith has tion of public and private partnerships when facing teamed up with Prithwiraj Choudhury at Harvard these kinds of emergencies and we found that it s Gilad Chen and myself to trace post COVID financial not necessarily the public sector leading the drive performance of companies that vary in employee but rather it is the public sector leveraging private level of organizational identification the extent to enterprise We looked at a number of health chal which employees perceive high alignment of their lenges across the last 100 years from the develop personal identity with their organizational identity ment of penicillin as the first antibiotic all the way The research indicates that post COVID firms with to artificial hearts and the human genome project high organizational identification recovered fast Our research shows that in all of these cases the er and attained higher market capitalization than public sector harnesses private enterprise by bring firms with low organizational identification This ing people who have the requisite complementary exemplifies that when you are being purposeful capabilities together and aggregating information about the things you do profit also follows so that we can have as rapid a solution as possible we ve worked on in the last year The Ed Snider Cen is leading a second research project involving en ter not only produces high quality research it also terprising solutions to grand challenges examining translates our research into actionable practical how the global mobile money ecosystem evolved implications for business leaders both current and Particularly because this industry is desperately future Center staff are busy creating video mate needed and is booming in developing countries Her rials and curriculum so that we can distill the es research shows that 2 3 billion people who were sence of this research and make it easily accessible unbanked around 1995 were able to get access to to thought leaders and students both in the class mobile money accounts because of the enterpris room and online ing solution offered by for profit enterprises These has taken on in the last year and a half The first enterprises took seriously the challenge of provid one of course is having to find a vaccine Science ing financial access and independence has come to bear and created a vaccine in record time so that individuals can focus on resuming life of challenges that have affected each and every to some normal extent again Our research faculty one of us globally It has impacted our sense of life has focused on challenges such as vaccine devel and our relationships and it has impacted the way opment Most people assume that the government that we view our social legal and democratic insti should provide a solution to these types of public tutions We have faced a series of punches as indi health emergencies yet in the race towards find These are just some of the many research projects Audra Wormald a student at the Ed Snider Center What are some of the grand challenges that society These last two years have presented a whole series 2021 Annual Report 23 as well as our complementary capabilities towards and distribute it worldwide Research by Seojin viduals and as community members but we have Dr Rajshree Agarwal ing a solution it was private enterprise that led the All of these challenges require us to harness what we call human enterprise which encompasses not just our wealth of experience and education but also our aspirations Our willingness to engage in daring and difficult action to rise up to the challenge of the times by harnessing both our purpose 2021 Annual Report 24 the Ed Snider Center not only produces high quality research it also translates our research into actionable practical implications for business leaders both current and future

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Q A derstand today and we want to find a way to bring How have those global challenges impacted your classroom environment What changes or new activity highlights can we expect to see in the Jacqueline Manger coming year Dr Rajshree Agarwal virtual environment setting And like many edu One of our future activities that I m particularly cators across the world we have had to innovate excited about is the launch of our Challenge the overnight to think about how to create engaging Conversation Series We are going to take import classroom experiences The modular development ant issues that are worthy of discourse and debate of content using multi media have become the an and present both sides of the issue to our audienc chor points in our Intentional Life Lab and we are es People need to learn to come together to think working hard to create an entire resource library about issues thoughtfully We need to teach our so that we can help our faculty community enrich students how to think about and discuss difficult their curriculum with our resources questions such as Do we trust science or do we question our scientists What is the role of corpo We also ran our SELF program virtually again this rations in public health Is censorship the domain year and for the first time ever we offered the pro of governments or does it also translate to private gram as a three credit college bearing course for enterprise and social media What does diversity the participating high school students We had stu and inclusion really mean dents participate from all over the world and our lead purposeful lives by collaborating in a team environment and focusing on the problems that they wanted to solve Those are just a few of the ways that we in the Ed Snider Center have responded to the challenges that we ve all faced over the last two years our long term aspirations and grow ter is hoping to host a series of these Debate and our impact that a university is a marketplace for ideas and we find collaborative solutions People need to learn to come together to think about issues thoughtfully We need to teach our students how to think about and discuss difficult questions to those in your networks We want to make our reach Jacqueline Manger bigger and we need your help to do that We are grateful for the generosity of our existing donors and We are also excited about the growth of the we need to build the future of the Ed Snider Center Intentional Life Lab The Lab is now in its sec by continuing to find more like minded donors and ond year and we are now moving to expand and partners Your generosity continues to support our develop it into multiple courses including a new efforts to make the world a better place by creating course on becoming an intentional leader The more free creative and enterprising individuals purpose of the Lab is to help individuals define their own purpose so that they re not just doing what they think others want them to do We encourage individuals to identify what it is that they really want to accomplish What problems do the process even if they re not necessarily in a designated power leadership position These are all issues that we re hoping to present to our students so that we can offer them a way to live their lives intentionally and purposefully so that they can achieve happiness and they can flourish and contribute to society in a meaningful way These are problems that we are struggling to un 2021 Annual Report 25 To our existing donors we hope that you re willing to partner with us and to help us explain our relevance want to engage in How can they lead others in Jacqueline Manger ideas need to be bandied and wrestled with before they want to solve What relationships do they enrollment has never been higher The eleven SELF fler made sure that the students learned how to and discuss them rationally The Ed Snider Cen is truly characteristic of a university the notion students get the best quality education within a faculty members and program director Caitlin Stif How can our donors help us achieve Discourse events so that we can embody what Like every other institution we have also had to adapt our approach to teaching to ensure that our both sides together and think about them logically 2021 Annual Report 26

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WHO WE ARE Our Staff Advisory Board John Allison IV Thank you to our many donors and supporters who continue to play a pivotal role in our success Richard S Levick Esq Robert Posner Jennifer Schubert Akin Tina Suzanne Snider Here are just a few David E Welch Executive Fellows Dr Rajshree Agarwal Executive Director Jacqueline Manger Managing Director Sarah Wolek Director Intentional Life Lab Robert Fredley Daniella Taveau David E Welch David Yang Oscar Santana Zeballos Affiliated Faculty and Researchers Joyce Koo Marilee Dragsdahl Program Manager Grants Engagement Saul Stoogenke Media Specialist 2021 Annual Report 27 Program Manager Curricula Engagement Nicholas Appleton Research Grants Coordinator Caitlin Stiffler Student Programs Coordinator Joe Bailey Kimberly Lumpkins J hanna Krist n Birnir Vojislav Max Maksimovic Serguey Braguinsky Chris Morris Christy Ford Chapin Erin Mosely Joonkyu Choi Atsushi Ohyama Adina Dabu Mircea Raianu Francesco D Acunto Jeremy Reid Protiti Dastidar Alberto Rossi Paul Dragos Aligica Felipe E Saffie Christina Elson Christine Masterson Schaaf Alfonso Gambardella David B Sicilia Brent Goldfarb Steve Sonka John C Haltiwanger Evan Starr Kylie King Chad Syverson David Kirsch David M Waguespack Brian Kogelmann John Wallis 2021 Annual Report

2021 Annual Report: Ed Snider Center for Enterprise and Markets

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